Fed’s Brainard highlights potential in distributed ledgers

Lael Brainard encourages policy-makers to look into blockchain tech

Policy-makers should be "optimistic" that a range of newly emerging distributed ledger technologies could provide "more robust security, resilience and information" in the areas of clearing and settlement, a Federal Reserve governor said on April 14. Lael Brainard noted how "permissioned ledgers", where a given set of participants can validate transactions, could help address "important fictions" and reduce intermediation steps in the clearing and settlement process. "Current developments in