by Ritt Keerati, CTSP Fellow | Permalink
Policy Considerations and Challenges for Financial Regulators (Part I)
Blockchain―a distributed ledger technology that maintains a continuously-growing list of records―is an emerging technology that has captured the imagination and investment of Silicon Valley and Wall Street. The technology has propelled the invention of virtual currencies such as Bitcoin and now holds promise to revolutionize a variety of industries including, most notably, the financial sector. Accompanying its disruptive potential, blockchain also carries significant implications and raises questions for policymakers. How will blockchain change the ways financial transactions are conducted? What risks will that pose to consumers and the financial system? How should the new technology be regulated? What roles should the government play in promoting and managing the technology?