Abstract
When studying the interbank money market (IMM), it is common to model banks as agents interacting through loans to tackle its complexity. However, the use of agent abstraction in the IMM is mostly limited to some specific cases. Besides, recent advancements show that it is promising to use blockchain technology to improve its security in a decentralized way. Based on this observation, this paper proposes an agent-oriented, blockchain-based design of the IMM trading systems, where the main objective is to decide on the times and methods of liquidity supply and demand by various market players based on what has been learned from the information available. The models in this paper are suitable for use by both academics and practitioners in this field.
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Notes
- 1.
Society for Worldwide Interbank Financial Telecommunication, https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication, last access on 21/02/2021.
- 2.
How Blockchain Could Disrupt Banking, https://www.cbinsights.com/research/blockchain-disrupting-banking/, last access on 21/02/2021.
- 3.
Interbank Market Sees Live Deployment of Blockchain Technology in Reconciliation Process, https://financialit.net/news/blockchain/interbank-market-sees-live-deployment-blockchain-technology-reconciliation-process, last access on 21/02/2021.
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Acknowledgements
This research is funded by the Initiative d’excellence (Idex) Université Grenoble Alpes, under grant C7H-LXP11A95-IRSMMI, and conducted at the Centre d’Etudes et de Recherches Appliquées à la Gestion (CERAG) in collaboration with the Laboratoire d’Informatique de Grenoble (LIG).
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Alaeddini, M., Dugdale, J., Reaidy, P., Madiès, P., Gürcan, Ö. (2021). An Agent-Oriented, Blockchain-Based Design of the Interbank Money Market Trading System. In: Jezic, G., Chen-Burger, J., Kusek, M., Sperka, R., Howlett, R.J., Jain, L.C. (eds) Agents and Multi-Agent Systems: Technologies and Applications 2021. Smart Innovation, Systems and Technologies, vol 241. Springer, Singapore. https://doi.org/10.1007/978-981-16-2994-5_1
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