Federal Reserve Governor Lael Brainard has said
distributed ledger technology presents both risks and
opportunities to the financial sector. Counsel and industry
in the US agree – but also hope the regulators will
tread with care.
Governor Brainard was speaking at the Institute of International
Finance’s (IIF) annual meeting on October 7 in
Washington DC. For a while, central banks had seemed slow in
coming to grips with the new cluster of technologies referred
to as blockchain. Now, however, they are increasingly
"We recognize the potential of distributed ledger
technology, or blockchain, to transform the way financial
market participants transfer, store, and maintain ownership
records of digitised assets," Brainard said.
That attitude shift has been welcomed by industry.
Lael Brainard, Federal Reserve"The fact
that many central bank governors now recognise blockchain as an
import new technology, and one that they must do a better job