Observations from the FooWire Project: Experimenting with DLT for Payments Use

Posted: 16 Sep 2020

See all articles by Jillian Buttecali

Jillian Buttecali

Board of Governors of the Federal Reserve System

Zachary Proom

Board of Governors of the Federal Reserve System

Paul Wong

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures

Date Written: August 13, 2020

Abstract

In 2019, a team at the Federal Reserve Board (Board) conducted small-scale experimentation, named the "FooWire project," to build a payment system using distributed ledger technology (DLT). The team built the system using Hyperledger Fabric, a popular DLT platform, because it generally met the team's design requirements of a closed network, mature technology, and enterprise readiness.

Suggested Citation

Buttecali, Jillian and Proom, Zachary and Wong, Paul, Observations from the FooWire Project: Experimenting with DLT for Payments Use (August 13, 2020). FEDS Notes No. 2020-08-13-1 https://doi.org/10.17016/2380-7172.2737, Available at SSRN: https://ssrn.com/abstract=3693850

Jillian Buttecali

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Zachary Proom (Contact Author)

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Paul Wong

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

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