August 14, 2020 U.S. Federal Reserve publishes details on FooWire DLT trial.

In a press release Thursday, the U.S. Federal Reserve revealed details surrounding a 2019 trial of distributed ledger technology for certain payment uses, dubbed ‘FooWire.’ The report, which highlighted the need for further experimentation with distributed ledger technology, stated that Hyperledger Fabric was chosen as the basis for the FooWire experiment because of its closed network, maturity, and enterprise compatibility. The report comes alongside an announcement that the Fed is partnering with the MIT Digital Currency Initiative for a multi-year effort related to central bank digital currencies.