🇩🇪🏦We can now add Germany to the list of countries supporting $QNT. The Germany Banking Industry Committee had begun a PoC for Commercial Bank Money Transfer (CMBT) last April. Earlier they published a report about it. Let me explain how all this ties into Quant & their standards. First off we can see that there were 5 leading German banks participating: • Deutsche Bank • Commerzbank • Unicredit • DZ Bank • Helaba Additionally, there are 5 enterprises participating in this, as the focus is on commercial bank money for business purposed transactions. • Mercedez Benz • Siemens • BASF • Evonik • Airplus Huge names on both the banking and business side. By leveraging CMBT, they were able to have various clients send payments across different networks. In other words, there was agnostic DLT interoperability. They had used multiple DLTs in this PoC as well: • R3 Corda • Nexi HL Besu + SIAChain • EU's Ethereum The way they enabled interoperability was via a method we're all quite familiar with. This was through locking assets on one chain before transferring to another, just like what we've seen with HTLC with the likes of Project Leonidas. In short assets are locked from a single chain when interoperated to another to be minted on another chain. Then the reverse happens once it's sent back to the original network. As we know, this is how SATP is standardized as well. Right off the bat, we notice that these DLTs don't natively connect with each other. The use of Nexi & SIAChain is especially interesting as we know Quant had partnered with them early on for DLT interoperability... Exactly what's needed here. (Reminder Nexi & SIA merged together in 2022) To have CMBT be agnostic, they would require an overlayer to interoperate the assets on these different blockchain networks & exisiting infrastructure. When we take a look at the report itself, we can see exactly what was used for this. The answer? APIs as per usual. We see Nexi & SIAChain also highlighted here with the discussion of banks connecting to the platform via APIs. The next steps of CMBT is to work with exisiting bank systems and corporate systems. Interestingly enough, they seem quite confident about their ability to interoperate with such systems. "It works across a variety of DLT platforms, has the potential to scale and should present no barrier to integration into existing systems via APIs." We've seen this connectivity succeed before with the likes of Rosalind, Meridian FX & others. No wonder they're so confident!

Google just stepped into tokenised bank money, and it could split the $QNT crowd right down the middle. On 16 Oct, Jack Henry, a US banking tech company with more than 7,200 clients, said it will be the first core provider to plug into Google Cloud Universal Ledger. Community banks and credit unions can then offer digital versions of their deposits. No public blockchain involved. Big Tech runs the record. One camp will say the giants just walked in and the industry lost the race. Others will say every private ledger is another separate network that has to talk to the rest, and connecting them is the work Quant was built for. New buyers, old holders, people still on the fence: is this a threat to $QNT, or the best thing that could happen to it?