FRB Launches New Study on Blockchain

On October 4th, the Federal Reserve (FRB) announced the launch of a major new study for 2017 that will seek to understand advanced digital payment technologies, including fintech and blockchain technology.

FRB Governor Lael Brainard stated last week, on October 7th, that the FRB has set up a working group conducting a “360-degree analysis” of financial innovation, specifically talking to industry stakeholders about the use of blockchain. Brainard also said the FRB recognizes that blockchain “may represent the most significant development in many years in payments, clearing, and settlement.”

“We want to maintain public confidence in the payments system, while supporting innovation that provides broadly shared benefits to the public over time, including through the reduction of unnecessary frictions, costs, and delays,” she said.

If you would like to join SFIG’s Blockchain Task Force, please contact Alyssa.Acevedo@sfindustry.org.

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