PROJECT AGORÁ AND THE BANKS' SHARED LEDGER Imagine a payment leaving a bank in #Tokyo for a company in #London. It hops through a chain of correspondent banks, each sitting on the money while messages crawl along. Project Agorá, convened by the #BIS, with the Institute of International Finance, asks, what happens if all of that lived on one programmable ledger. On this unified ledger, tokenised central bank reserves and tokenised bank deposits sit side by side, while each central bank keeps control of its own currency. Because the message and the money travel together, both legs of a payment settle in one atomic step, so either everything completes or nothing does. This summer, central banks and many private firms settled real money across several currencies in a controlled test. But please note that, this is still a prototype, and not wired into live banking systems…yet. The old guard is now chasing the problem, which $XRP was built for.