The Federal Reserve has published new research on distributed ledger tech.
The paper, which explores applications of the technology in payments and transaction settlement, was drafted by teams from the Federal Reserve Board as well as the Federal Reserve Banks of New York and Chicago.
Overall, the research casts a wide net, including both a top-down view of the concepts behind blockchain, as well as both the challenges and opportunities for financial firms or payment system operators looking at potential integrations.
The paper's authors wrote:
Its publication comes just under two months after Fed governor Lael Brainard detailed the central bank's interest in the tech, as well as its intention to pursue in-depth research on the topic.
According to the Fed, researchers interviewed 30 representatives from both the public and private sector, drawing from established companies and startups working with the tech.
The full research paper can be found below:
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.