Method for secure ledger distribution and computer system using secure distributed ledger technology

A computer system of a central bank using secure distributed ledger technology for interbank settlement, the computer system comprising one or more processors or servers, which alone or in combination, are configured to:

• establish a first private sidechain among itself and computer systems of at least a first sender bank and a first receiver bank, each of which have an account with the central bank;
• receive a first transaction from the computer system of the first sender bank as a first payment request;
• determine whether the first transaction is valid;
• reach consensus within the first private sidechain;
• forward the first transaction to the computer system of the first receiver bank along with a first finality proof;
• and
• update the accounts of the first sender bank and the first receiver bank and add the first transaction to a first private ledger accessible only within the first private sidechain.

A tangible, non-transitory computer-readable medium containing instructions thereon which, upon being executed by a computer system including one or more processors or servers, permits the following steps to be carried out:

• establishing a private sidechain among a centralized computer system of a central bank and computer systems of at least a sender bank and a receiver bank, each of which have an account with the central bank;
• receiving a transaction from the computer system of the sender bank as a payment request;
• determining whether the transaction is valid;
• reaching consensus within the private sidechain;
• forwarding the transaction to the computer system of the receiver bank along with a finality proof;
• and
• updating the accounts of the sender bank and the receiver bank and adding the transaction to a private ledger accessible only within the private sidechain.