Miguel Cárdenas , Carlos Madeira , Raúl Morales-Resendiz , Miguel Musa , Mario Sanclemente , Leon Sanz-Bunster
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Tiered access in RTGS systems: A DLT-based approach
Distributed ledger technologies (DLT) are increasingly considered to enhance payment systems’ and market infrastructures’ functionalities like their accessibility and interoperability. We explore DLT architecture options to enable a new tiered access in the RTGS system of Chile for new payment service providers (PSP). We find that by introducing decentralized apps (DApps) the RTGS system would become more accessible and interoperable by enabling a tiered access to new participants. Our work also suggests that central banks exploring design alternatives for retail Central Bank Digital Currencies (CBDC) could find relevant our approach as a pivot to build a far-reaching PSP network.