* * * Europe has made important progress towards a true banking union in recent years. We now have a single banking supervisor for significant institutions, a single framework for resolving failing institutions, a single fund to finance those resolution activities, and we will soon have a single backstop for that fund.
While following this three-layer approach for instant payments, we are fully aware that distributed ledger technologies, of which Blockchain is probably the bestknown example, have the potential to have a profound impact on both the payments and the post-trade industry. Can they make our industry more efficient?