The Bundesbank’s new block chain project does not seem to be related to a digital currency of its own.
According to a supplement to the Official Journal of the European Union, the Berlin-based block chain company BigchainDB GmbH has been commissioned to set up a decentralised data exchange protocol for the Deutsche Bundesbank.
According to the German Central Bank, the company’s Ocean Protocol, which is rather unknown in the industry, was the only contractor to be considered because of „the lack of comparable competitors“.
In its announcement, the Bundesbank further states that the objective of the contract is „to establish a decentralised network approach which allows equal participants permanent, symmetrical data access for the realisation of real-time updates of statistics while preserving data sovereignty“.
By supporting the Ocean Protocol, the financial institution intends to develop a platform based on block chain technology for the secure processing and transmission of data.
As Cointelegraph reported on 21 October, the German central bank is considering an alternative to its own digital currency (CBDC). It is conceivable that the block chain platform described above could be a first building block in this respect.
In July, the Ocean Protocol again announced that it had launched a pilot project with Daimler AG, which belongs to Mercedes-Benz.