‘DeFi may lead to a paradigm shift’ says Federal Reserve Bank paper
Ethereum has unleashed a wave of financial innovation. A paper published by the Federal Reserve Bank of St Louis has delved into the expansion of decentralized finance and Ethereum’s role in it.The research, penned by Dr. Fabian Schär and published on May 2, has taken a deep dive into the world of DeFi, hinting that if security concerns and risks can be addressed, it may lead to huge changes in the financial industry."DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way," Dr. Fabian Schär wrote, also....
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A multi-disciplinary research team from the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Federal Reserve Bank of Chicago, after conducting interviews with “approximately 30 key industry stakeholders, including market infrastructures, financial institutions, other government agencies, technology start-ups, more-established technology firms, and industry consortia,” stated in a recently published paper that, although it is unlikely, the “use of banks to conduct payments could become obsolete,” by the use of blockchain technology. The....
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. Though research has been published in the past by members of the Federal Resrve system, most notably the Federal Reserve Banks from Boston and Chicago, the paper's release represents the first major release from the Federal Reserve Board. Overall, the research casts a wide net, including both a top-down view....
The Federal Reserve Bank of Richmond has published an interesting paper surround bitcoin and digital currencies (which they refer to as 'private currencies') as a whole. "At first glance, bitcoins lack the inherent value of government authority to get them off the ground as an accepted currency," the paper states. "But in surprising ways, they resemble the gold and silver coins of ancient times." The report goes on to state most of what we've been reporting, quite frankly. Uncertain regulation reminiscent of the early days of the Internet, in which many people had no idea how laws applied,....
On 5th December, the Federal Reserve released its much-awaited research paper on distributed ledgers. The paper, “Distributed Ledger Technology in Payments, Clearing and Settlement", came two months after Federal Reserve governor Lael Brainard remarked at the Institute of International Finance that the US central bank was "paying close attention" to the technology. The product of the input of 30 financial industry stakeholders, including government officials, experts from traditional finance and FinTech institutions and members of the industry consortia – the paper explored....
The U.S. Federal Reserve is showing strong interest in attributes of distributed ledger technology (DLT). The private central banking entity has just released a paper that explores the agencies research on blockchain based settlement. Federal Reserve Research Team Paper Focuses on Blockchain Technology. The report issued by the Federal Reserve Board....