Non-RTGS settlement system & Bitcoin.

Select one type of non-RTGS settlement system that exists in the existing financial system and highlight how it could theoretically work, in a Bitcoin-centric ecosystem The National Settlement Service (NSS) is a non-RTGS settlement system in the United States. Designated agents submit electronic files on behalf of participants in a clearing arrangement. The participants are depository institutions with accounts at a Reserve Bank. Once a file is submitted, verified, and processed the settlements are final. Each debit is checked against the account balance and intra-day credit of the participant in their Federal Reserve Bank. The NSS is owned and operated by the Federal Reserve Banks. In a Bitcoin-centric ecosystem there are more than one way to implement such a system. In

Read more