全球四大銀行合作研發新數字貨幣大綱

Four of the world’s biggest banks have teamed up to develop a new form of digital cash they believe will become an industry standard to clear and settle financial trades using blockchain, the technology underpinning bitcoin.

全球最大的四家銀行已經開始合作研發一種新形式數字貨幣，他們相信這種數字貨幣將成爲利用區塊鏈(blockchain)清算和結算金融交易的行業標準。區塊鏈是支撐比特幣(bitcoin)背後的技術。

UBS, the Swiss bank, pioneered the “utility settlement coin” and has now joined forces with Deutsche Bank, Santander and BNY Mellon — as well as the broker ICAP — to pitch the idea to central banks, aiming for its commercial launch by early 2018.

率先研發出“多功能結算幣”(utility settlement coin)的瑞銀(UBS)，已聯手德意志銀行(Deutsche Bank)、桑坦德銀行(Santander)、紐約梅隆銀行(BNY Mellon)——以及經紀公司毅聯匯業(ICAP)——一道向各國央行推介這一理念，爭取在2018年初將其投入商用。

The move is the first example of a group of leading banks coming together to co-operate on a specific blockchain technology to harness the power of decentralised computer networks and improve the efficiency of financial market plumbing.

此舉是一組大型銀行首次聯手就一種具體的區塊鏈技術進行合作，以充分利用分散化的計算機網絡的威力，提高金融市場運轉效率。

“Today, trading between banks and institutions is difficult, time-consuming and costly, which is why we all have big back offices,” said Julio Faura, head of R&D and innovation at Santander. “This is about streamlining it and making it more efficient.”

“如今，銀行與機構間的交易困難、耗時且費用巨大，這就是爲什麼我們都擁有龐大的後臺辦公室，”桑坦德銀行研發與創新主管胡利奧•福拉(Julio Faura)說，“這樣做可以精簡運作，提高效率。”

Blockchain technology is a complex set of algorithms that allow so-called cryptocurrencies, including bitcoin, to be traded and verified electronically over a network of computers without a central ledger.

區塊鏈技術是一套複雜的算法，讓所謂的加密貨幣（包括比特幣）無需中央賬本即可通過計算機網絡進行電子交易和驗證。

Initially sceptical because of worries over fraud, banks are now exploring how they can exploit the technology to speed up back-office settlement systems and free up billions in capital tied up supporting trades on global markets.

起初因擔心欺詐而持懷疑態度的銀行，如今正在探索如何利用這項技術加快後臺結算系統的速度，騰出捆綁在支持全球市場交易上的鉅額資本。

The total cost to the finance industry of clearing and settling trades is estimated at between $65bn and $80bn a year, according to a report last year by Oliver Wyman.

奧緯諮詢(Oliver Wyman)去年發佈的一份報告顯示，金融業每年清算和結算交易的總成本估計在650億至800億美元之間。

Setl, a London-based group founded by hedge fund investors and trading executives, also aims to settle financial market payments with digital cash linked directly to central banks.

由對衝基金投資者和交易高管創立、總部位於倫敦的SETL公司，也力求利用與各國央行直接連接的數字貨幣爲金融市場結算支付。

Citigroup is working on its own “Citicoin” solution, while Goldman Sachs has filed a patent for a “SETLcoin” to allow trades to be settled nearly instantaneously. JPMorgan is also working on a similar project.

花旗集團(Citigroup)正在研究自己的“Citicoin”解決方案，高盛(Goldman Sachs)已經爲可以讓交易近乎瞬間完成結算的“SETLcoin”申請了專利。摩根大通(JPMorgan)也在推進類似項目。

The utility settlement coin, based on a solution developed by Clearmatics Technologies, aims to let financial institutions pay for securities without waiting for traditional money transfers to be completed. They would use digital coins convertible into cash at central banks.

多功能結算幣基於由Clearmatics Technologies研發的一種解決方案，旨在讓金融機構無需等待傳統轉賬完成就可以爲證券進行支付。他們會在各央行將數字貨幣轉換成現金。

The coins would be stored using the blockchain allowing them to be quickly swapped for the securities being traded.

利用區塊鏈存儲的數字貨幣，可以與被交易的證券迅速實現交換。

“You need a form of digital cash on the distributed ledger in order to get maximum benefit from these technologies,” said Hyder Jaffrey, head of fintech innovation at UBS. He said the project team would aim for a “limited and low risk” commercial launch by early 2018.

瑞銀金融科技創新主管海德爾•傑弗裏(Hyder Jaffrey)說：“你需要一種分佈式賬本上的數字貨幣，才能從這些技術中獲得最大效益。”他表示，項目團隊的目標是在2018年初投入“有限、低風險”的商用。

The US Federal Reserve, the Bank of England and the Bank of Canada are among central banks examining the potential benefits of digital currencies. But concerns include the security and the impact on banking stability.

美聯儲(Fed)、英國央行(Bank of England)、加拿大央行(Bank of Canada)等央行都在考察數字貨幣的潛在好處。但各方仍存在對其安全性以及對銀行業穩定性影響的擔憂。