Project Khoka

Comes out of the EEA

"Problem: Banks struggle with compliance and payment settlements are often slow which increases friction and wastes capital.

Solution: Project Khoka. In a consortium with seven commercial banks, the South African Reserve Bank conducted a proof-of-concept trial with Quorum, an enterprise-grade implementation of Ethereum, to process the typical daily volume of payments with full confidentiality and finality in less than two hours.

Future Implications: Transactions of money and digital assets via a blockchain are approaching fast and will reduce friction for customers, prevent fraud, and provide greater transparency for financial systems."

In a consortium with seven commercial banks, the South African Reserve Bank conducted a proof-of-concept trial with Quorum, an enterprise-grade implementation of Ethereum, to process the typical daily volume of payments with full confidentiality and finality in less than two hours. Adhara, a ConsenSys venture, is building a multi-currency liquidity management and international payments platform to optimize banks’ capital deployment, manage risk, and leverage liquidity effectively and globally.