Central Banking

Bundesbank president: blockchain brings benefits and pitfalls

Jens Weidmann
Weidmann sees potential benefits to blockchain technology

Blockchain has the potential to bring significant benefits to the payments landscape, according to the president of the Deutsche Bundesbank.

“One certainly can’t deny that new technologies like blockchain… could have the potential to make financial markets and services faster, more efficient, more convenient, and more inexpensive for everyone,” Jens Weidmann said when he welcomed members of the G20 to Frankfurt on March 15.

A number of central banks, including Germany’s, are in the process of