Central banks worldwide are increasingly taking interest not only in the blockchain technology, but also developing their own version of digital currency. Following the People’s Bank of China and the Reserve Bank of Australia, the Dutch central bank seems to be the latest entrant in this space.

In the latest annual report, the De Nederlandsche Bank, has discussed blockchain technology. DNB says that while it has previously pointed out the risks of the use of virtual currencies such as bitcoins, it recognizes the opportunities of the blockchain technology.

It says that the technology is promising and could be applied in various fields and could have far-reaching consequences.

“Potential benefits of this infrastructure are low cost, speed and transparency: the general ledger by everyone to see in the network system”, according to Google translated version of the report.

The report goes on to state the potential applications of the technology such as payment system, revenue models and banking systems, adding that the blockchain technology “can also benefit with new ways to generate revenue and [reduce] costs”.

In addition, the report suggests that the bank is developing "DNBCoin" – a prototype coin based on blockchain technology. While the report does not provide any further details on the project, CoinDesk noted that as DNBcoin is stated under "aims for 2016" column, it suggests that the project is a priority for in-house developers this year.