The federal reserve speaks up on blockchain, reports Business Insider. “It’s pretty astounding,” said Token CEO Steve Kirsch in his presentation at NACHA’s Payments 2016. “This stuff is very real, and it is coming.” Token is building a secure digital payments system. In an April 14 speech (PDF) Lael Brainard, a member of the Federal Reserve Board of Governors, surveyed distributed ledger technology and concluded: “In safeguarding the public interest, the first line of inquiry and protection will always rest with those closest to the technology innovations and to the organizations that consider adopting the technology. But regulators also should seek to analyze the implications of technology developments through constructive and timely engagement. We should be attentive to the potential benefits of these new technologies, and prepared to make the necessary regulatory adjustments if their safety and integrity is proven and their potential benefits found to be in the public interest,” she concludes.
FinTech Rising
Reports at the intersection of money, banking, securities, and payments with digital technologies