{"id":1087,"date":"2016-06-27T19:48:00","date_gmt":"2016-06-27T19:48:00","guid":{"rendered":"https:\/\/blog.holytransaction.com\/2016\/06\/dutch-central-bank-tests-bitcoin-blockchain.html"},"modified":"2023-01-14T01:56:17","modified_gmt":"2023-01-13T23:56:17","slug":"dutch-central-bank-tests-bitcoin-blockchain","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/06\/dutch-central-bank-tests-bitcoin-blockchain.html","title":{"rendered":"Dutch Central Bank Tests Bitcoin Blockchain"},"content":{"rendered":"<div style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"https:\/\/1.bp.blogspot.com\/-j__4I38nQ0Y\/V3GCzJWFaLI\/AAAAAAAAAk4\/6l9NAwj8xXsXZIuQTy3XvT55-NZoSPgLQCLcB\/s1600\/dutch-central-bank-400.jpg\"><img loading=\"lazy\" decoding=\"async\" title=\"dutchcentralbanktestblockchain.jpeg\" src=\"https:\/\/1.bp.blogspot.com\/-j__4I38nQ0Y\/V3GCzJWFaLI\/AAAAAAAAAk4\/6l9NAwj8xXsXZIuQTy3XvT55-NZoSPgLQCLcB\/s400\/dutch-central-bank-400.jpg\" alt=\"dutch_central_bank_test_blockchain\" width=\"400\" height=\"225\" border=\"0\" \/><\/a><\/div>\n<div style=\"text-align: justify;\"><b>\u00a0<\/b><\/div>\n<div style=\"text-align: justify;\"><b>Dutch Central bank<\/b> presented the results of their digital currencies tests whose goal was to better understand the <b>Bitcoin blockchain<\/b> to adopt it within the main bank institutions.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">After this test conducted in 2015 by <b>De Nederlandsche Bank<\/b> (DNB), the bank presented the results earlier this month.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">On 20th June <b>Ron Berndsen<\/b>, head of the bank\u2019s market infrastructure policy department, explained to <b><a href=\"http:\/\/coindesk.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Coindesk<\/a><\/b>:<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><i><i>&#8220;The general idea was that by adapting the Bitcoin software ourselves we could learn deeper how an actual implementation of the blockchain really works than if we would only perform desk research and go to conferences such as these, no matter how interesting.&#8221;<\/i><\/i><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<h3 style=\"text-align: justify;\">Dutch Central Bank test number one<\/h3>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">To do the first test the DNB created a working group who acts as fictional participants in the digital currency world, as they want to replicate how the bitcoin environment seemed in the first two months of its existence.<\/div>\n<div>\n<p>Also, they sent each other several coins, testing the process.<\/p>\n<h3>DNB Second test<\/h3>\n<p><i>\u201cThe second DNBcoin prototype takes the other extreme of bitcoin by jumping to the year 2140, the year when the last fraction of the 21 million bitcoins will be issued,&#8221;<\/i> said Berndsen.<\/p>\n<p>For this second test, the team mined all of the <a href=\"https:\/\/holytransaction.com\/blog\/2016\/03\/dutch-central-bank-to-develop-its.html\">DNBcoins<\/a> in advance, beginning with a block reward of 1 billion of DNBcoins.<br \/>\n<i><br \/>\n&#8220;In doing so we were able to generate 3 billion DNBcoins in 30 seconds. In addition, we observed that after all DNBcoins had been generated, blocks could still be mined and added to the blockchain. The reward was reduced to zero but transaction fees were still collected by the miner who finds the next block.\u201d<\/i><\/p>\n<div>\n<h3>Blockchain central bank adoption<\/h3>\n<p>Central banks are increasing their interest in the blockchain.<\/p>\n<p>Recently, in fact, we talked about several central banks who studied, tested and adopted the blockchain.<\/p>\n<p>For example, you may be interested in the news related to the <b><a href=\"https:\/\/holytransaction.com\/blog\/2016\/06\/central-bank-of-canada-revealed-the-digital.html\">Central Bank of Canada that revealed its new digital currency called Cadcoin<\/a>. <\/b><\/p>\n<\/div>\n<\/div>\n<h3><b><br \/>\n<\/b><b>Universal Wallet\u00a0<\/b><\/h3>\n<div style=\"clear: both; text-align: center;\"><a style=\"clear: right; float: right; margin-bottom: 1em; margin-left: 1em;\" href=\"https:\/\/3.bp.blogspot.com\/-JrNqe9Ufa_I\/Vw5xWCp-4uI\/AAAAAAAAAX0\/ewYa_sJ1mD4ybIYjXMRYkneGId0Sd_RPACKgB\/s1600\/HTBannerOrange.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/3.bp.blogspot.com\/-JrNqe9Ufa_I\/Vw5xWCp-4uI\/AAAAAAAAAX0\/ewYa_sJ1mD4ybIYjXMRYkneGId0Sd_RPACKgB\/s200\/HTBannerOrange.png\" width=\"200\" height=\"166\" border=\"0\" \/><\/a><\/div>\n<div>You are now ready to open a wallet, where you can store Bitcoin and other digital currencies in an easy and safe way.<\/div>\n<div><\/div>\n<div><a href=\"https:\/\/holytransaction.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Open your HolyTransaction wallet here for free.<\/a><\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>\u00a0 Dutch Central bank presented the results of their digital currencies tests whose goal was to better understand the Bitcoin blockchain to adopt it within the main bank institutions. After this test conducted in 2015 by De Nederlandsche Bank (DNB), the bank presented the results earlier this month. On 20th June Ron Berndsen, head of [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55,76,101,146,252],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dutch Central Bank Tests Bitcoin Blockchain -<\/title>\n<meta name=\"description\" content=\"Dutch Central Bank exploring potential uses of Bitcoin blockchain in pilot program. 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