There is actually an ethereum PoA public blockchain that acts as a testnet. Tokens are transferred via secure queue to aprivate, proprietary, parity-based AFX Ethereum proof-of-authority blockchain. So another way of doing Ameribor could be as a smart contract within ethereum’s public and global blockchain. Within those ethereum base rules you can then have Turing complete additional rules in the smart contract, in its own mini-network. Within the private blockchain instead, it depends on how many participants there are presumably but arguably it can never reach the same level as the public blockchain because it simply wouldn’t have as many eyes on it.
Jerome Powell, the Chair of the Federal Reserve Banks has encouraged commercial banks to use a blockchain based inter-bank lending rate setting platform.
“We have been clear that the [Alternative Reference Rates Committee’s] recommendations and the use of [Secured Overnight Financing Rate] are voluntary and that market participants should seek to transition away from Libor in the manner that is most appropriate given their specific circumstances,” Powell said before adding:
“Ameribor is a reference rate created by the American Financial Exchange based on a cohesive and well-defined market that meets the International Organization of Securities Commission’s (IOSCO) principles for financial benchmarks.
While [Ameribor] is a fully appropriate rate for the banks that fund themselves through the American Financial Exchange (AFX)...
Read the full article @ TrustNodes