Federal Reserve Governor to Address Blockchain in New Speech

Federal Reserve board member Lael Brainard is scheduled to issue new remarks on blockchain technology later this week.

AccessTimeIconOct 6, 2016 at 11:49 a.m. UTC
Updated Sep 11, 2021 at 12:32 p.m. UTC

Federal Reserve board member Lael Brainard is scheduled to issue new remarks on blockchain technology later this week.

On 7th October, Brainard will speak at the Institute of International Finance Annual Membership meeting, where he is expected to address blockchain in the context of the US central bank's larger, ongoing study on electronic payments.

The news coincides with broader efforts by global central banks to better understand the technology, with institutions including the De Nederlandsche Bank, the Monetary Authority of Singapore and the Bank of England.

Notably, the speech won't be the first time Brainard has addressed the subject, following a prior speech in April in which she advocated that regulators seek to understand the potential benefits of the technology before taking further action.

At the time, Brainard pushed for blockchain innovators to be mindful of interoperability as well, warning that "highly fragmented" systems could be built should the industry environment become too competitive.

Image credit: JSvideos / Shutterstock.com

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