A real-time payments infrastructure enabled by a blockchain-based stablecoin could possibly offer several benefits, a Federal Reserve governor stated throughout a present message.
Senior Reporter, Computerworld
The Federal Reserve is investigating the possibility of the bank that is central money (CBDC) due to the fact backbone for a fresh, safe real-time payments and settlements system.
The move toward a type of government-backed electronic money is being driven by Fintech companies and a banking industry currently piloting or intending to pilot cash-backed electronic tokens, in accordance with Lael Brainard, a member regarding the U.S. Federal Reserve’s Board of Governors.
вЂњToday, it will take a days that are few obtain access to your funds. A real-time retail payments infrastructure would make sure the funds are available instantly вЂ“ to cover utility bills or split the rent with roommates, or even for small enterprises to pay for their suppliers,вЂќ stated Brainard, whom functions as seat associated with the committees overseeing Financial Stability and Payments, Clearing and Settlements. Read More