Fed’s Brainard highlights potential in distributed ledgers
Policy-makers cannot afford to ignore the possibilities new technology could offer, she says
Policy-makers should be "optimistic" that a range of newly emerging distributed ledger technologies could provide "more robust security, resilience and information" in the areas of clearing and settlement, a Federal Reserve governor said on April 14.
Lael Brainard noted how "permissioned ledgers", where a given set of participants can validate transactions, could help address "important fictions" and reduce intermediation steps in the clearing and settlement process.
"Current developments in
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