Carolyn Wilkins is the senior deputy governor of the Bank of Canada, where she oversees the central bank’s strategic planning and economic and financial research. She also represents the bank on the Financial Stability Board.
In this CoinDesk Opinion piece, Wilkins looks back on key takeaways from nearly six months of distributed ledger learnings, asserting that more healthy collaboration is needed to advance incumbent use of the technology.
It’s not surprising that central banks have developed a keen interest in fintech and distributed ledger technology (DLT).
We want to understand the implications for our mandates – monetary policy, currency issuance and financial stability – and also for the financial technology we use ourselves to run our business.
Private investment in DLT platforms and test cases goes well beyond digital currency applications. A whole new industry sees promise for wholesale and retail payments, trade finance, securities trading and finance, regulatory compliance and more.
But, with great promise comes a host of technical and policy issues that need to be examined and resolved before DLT applications in core parts of the financial system are ready for prime time.
There’s no better way to understand an innovation than to collaborate with experts
Read more ... source: CoinDesk
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