St. Louis Fed, Speech: The Blockchain Revolution, Decoding Digital Currencies
Page(s): 31
- “Future of blockchain applications will depend on their ability to be secure, efficient and cheap.”
- “DeFi still in its infancy but developing exponentially.”
- “Front-end: permission less access to money and payments systems and finance.”
- “Back-end:
- “Decentralized database management;”
- “Supply chain management;”
- “Proof of authenticity;”
- “Resilience.”
- “Individual and group histories are important for coordinating economic activity.”
- “Modern societies devote considerable resources to maintaining reliable records.”
- “Blockchain technology is a challenge to traditional forms of record-keeping.”
- “Competitive pressures will further drive innovation – consider the impact of the telegraph, telephone, computer and internet.”
- “Expect even more dramatic changes – though the future remains uncertain.”