@misc{29972,
title = {Cross-Border Payments with Blockchain},
author = {Allende López, Marcos and Leal Batista, Antonio},
editor = {Gutiérrez, Rubén and Da Silva, Marcelo and Pardo, Alejandro},
year = {2021},
doi = {10.18235/0003189},
abstract = {This document describes the proof-of-concept (PoC) developed by the Inter-American Development Bank, the IDB Lab, LACChain, Citi Innovation Labs, and ioBuilders to demonstrate cross-border payments between entities in different countries that involve currency exchange, using digital money represented by tokens -tokenized money- in the LACChain Besu Blockchain Network. For this PoC, Citi played the role of the bank holding the funds; the IDBs headquarters in the U.S. played the role of the sender of tokenized dollars; an individual in Dominican Republic played the role of recipient of tokenized Dominican pesos; LACChain provided the blockchain infrastructure and developed the back end, the smart contracts and the integrations; and ioBuilders provided technical advice and developed the front end.},
url = {https://doi.org/10.18235/0003189}
}