Eleven member organizations are taking part in the experiment focusing on the United Kingdom’s RLN.
UK Finance, a banking and finance trade association based in the United Kingdom, has announced the beginning of an experimental phase focusing on the U.K. Regulated Liability Network (RLN). Eleven member organizations are taking part.
The experimentation will examine technical and legal issues and customer benefits in three use cases. First, it will consider payment-upon-delivery for physical products with an eye to reducing fraud online.
It will also look at the homebuying process to improve customer transparency to reduce conveyance fraud — the practice of selling an asset to avoid paying a claim by a creditor. The final case study will use digital money for digital bond settlement.