ECB Board Member: Blockchain Could Disrupt Payments
Yves Mersch, member of the Executive Board of the European Central Bank, has said adoption of blockchain technology could disrupt payments.
Yves Mersch has warned of the threat posed by Facebook's Libra to monetary policy and consumers in the EU.
The ECB executive board member has supported recent criticism of bitcoin by Agustin Carstens, head of the Bank for International Settlements.
The European Central Bank is looking into what a retail central bank digital currency form of the euro might look like, executive member Yves Mersch said.
Yves Mersch has said bitcoin could pose a threat to economic stability if financial infrastructure institutions get involved with the cryptocurrency.
European Central Bank board member Yves Mersch has said banks need to launch instant payments systems to counter the rise of cryptocurrencies.