The Nederlandsche Bank (Dutch National Bank) released its Payments Strategy for 2018-2021 on June 5th. The central bank speaks of fostering innovation and its desire to improve payment processing. Three major objectives are cited for the coming years:
- Stimulating innovation
- Promoting a solid electronic payment infrastructure
- Working on a well-functioning cash payment chain
The DNB clearly states that it is not pursuing a cashless payments system and that it will continue to support cash as a central tool for Dutch society.
The DNB is pursuing an instant payments solution in collaboration with the country’s financial institutions, which will hopefully be launched in the coming years. This system will most likely include distributed ledger technology – the foundation of bitcoin - in order to reduce costs and improve processing speed.