Fed's Williams: "blockchain technology could lower costs"

Jose Ricaurte Jaen Analista independiente

San Francisco Federal Reserve President John Williams, noted, "blockchain technology could lower costs while making record keeping easier and more efficient."

Key Highlights:

•During his speech at Boise State University, Fed's Williams noted how people increasingly understand that bitcoin won't replace government-issued currencies like the US dollar.

•Back in December, the Fed published a paper examining how blockchain technology could be applied in the financial industry. Fed Chairwoman Janet Yellen had echoed that blockchain could have a significant impact on the payments system.

Author

Jose Ricaurte Jaen

Analista independiente

Born in Colón (Panamá). Over the last years, he has been designing currency algorithms for the retail industry.

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