Bank of England’s Deputy Governor Sees Potential in Distributed Ledgers
A representative from the Bank of England gave a speech at the London School of Economics concerning blockchain technology and cryptocurrency. Ben Broadbent, deputy governor for monetary policy, said these digital protocols can allow anyone an easier method to hold savings in a bank account worldwide. Bank of England Representative: Centralized Blockchains May be Useful. Broadbent stated in his speaking appearance at the school: “In principle, this technology could be applied to many things, not just the exchange and registering of financial assets. A recent official report in the UK....
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The way financial services are designed could evolve with the development of blockchain technology and distributed ledgers, the governor of Japan's central bank said this week. The new remarks from Haruhiko Kuroda, governor of the Bank of Japan, were issued at an event held at the institution's FinTech Center, itself established this year as part of an effort to study financial tech. He cited artificial intelligence and blockchain as advances that could alter the face of financial services. Kuroda said: "Given that the development of financial services has been supported by ledgers as....
The Bank of England’s deputy governor for monetary policy, Ben Broadbent believes that the issuance of digital currency by central banks will put commercial banking’s business model and practices at risk. He also stated that digital currencies (bitcoin etc.) are unlikely to replace established fiat currencies. Bank of England (BoE) deputy governor Ben Broadbent has claimed that switching over to digital currencies or a digital version of the sterling pound will have a negative impact on banks. In his opinion, a digital version of sterling could “impair” commercial banks’ ability to make....