UK banks have completed the first live customer transactions using tokenised sterling deposits, and they ran on the #GBTD platform built by Quant.
Delivered through the Great British Tokenised Deposit initiative, convened by @UKFtweets with @Barclays, @HSBC_UK, @LloydsBank, @monzo, @Nationwide, @NatWestGroup and @santanderuk, the transactions included:
➡️ Two remortgage completions, with funds locked and released automatically at completion
➡️ A marketplace purchase from a private seller, with payment released only once the goods were exchanged
Payments that execute the moment agreed conditions are met give customers more control and can help reduce fraud. More pilots are expected in the coming months, including digital asset settlement.
We're proud to have built the shared infrastructure behind this milestone, alongside @UKFtweets, the participating banks, @EYnews and Linklaters.
Read the full announcement: https://t.co/WaycMtvjCq
#TokenisedDeposits #ProgrammableMoney #Payments
Prices in the UK have absolutely lost the plot
£12 for fish and chips
Almost £2 per litre for fuel
£45 for a driving lesson
Over £2 for a bottle of pop
£20 for a takeaway for one person
£20 for a 15 minute taxi
Weekly food shop for one person £80
£100 a night for a "cheap" hotel
Rent prices through the roof
At this point we're just getting robbed.