World-Wide On-Line Central Banking in the Late 70's... Can a Babylonian Confusion of Tongues Be Forestalled?

Sten Thore
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Sten Thore: The Norwegian School of Economics and Business Administration

Interfaces, 1972, vol. 2, issue 3, 21-24

Abstract: The difficult problem of interface is typically not one of inward interface but one of outward interface. The data processing system for a given industrial corporation may be beautifully designed, but there may arise large problems of extending it to incorporate the activities of a newly acquired subsidiary already having a data solution of its own. A national on-line real-time hotel booking system may work well, but it just may not easily merge with a similar system in another country to form an international network.The present note describes the grave interface problems that seem to loom ahead in the field of on-line real-time central banking. The suggestion is put forward that the International Monetary Fund has a unique responsibility in preparing for interface between international payment networks of tomorrow.

Date: 1972
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