After months of research on the application of distributed ledger technology by the Bank of Japan and European Central Bank, the two central banks determined that DLT is not advanced enough for large-scale applications like real-time gross settlement (RTGS) systems.

The two banks combined forces last December on “project Stella,” whose purpose was to figure out the use of DLT applications for financial market infrastructures.

According to a report  released by Finextra, the banks stated:

Given the relative immaturity of the technology, DLT is not a solution for large-scale applications like BOJ-NET and Target2 at this stage of development.

Read more at Finextra and CoinDesk.