The Bank of England has released a Proof-of-Concept paper (PoC), together with Blockchain startup Chain, that examines how to configure a distributed ledger system which would maintain privacy between participants, keep data shared across the network, and also enable a regulatory body to oversee all transactions, as outlined April 11.
The paper investigates a scenario in which the DLT system includes a central authority (such as a central bank), a regulator, and several participants involved in the transfer of a hypothetical asset.