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Author Topic: [2016-10-05]Federal Reserve Begins Study on Digital Payments and Blockchain tech  (Read 147 times)
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October 05, 2016, 12:16:56 PM

The financial world has spent much of 2016 co-opting Bitcoin’s Blockchain technology for commercial use, aiming to catch up to quantum leaps in efficiency and payment innovations used by Bitcoin’s digital currency. Now, the world’s leading central bank, the Federal Reserve of the United States, is going to investigate the future of monetary payment technology. This week, they have begun new studies for 2017 that will seek to understand advanced digital payment technologies, including “Fintech” and Bitcoin’s Blockchain technology.

“The review that began yesterday is the next step in the ongoing process to improve the speed and safety of payments in the United States,” said Gordon Werkema, Payments Strategy Director for the Federal Reserve System. "The ultimate goal of the Faster Payments Task Force is to help payment system stakeholders implement faster payment capabilities that are safe and ubiquitous.”
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