This projection comes as no surprise, seeing as blockchain does indeed promise to revolutionise ledgers and settlement processes by making accounts for financial transactions available to all parties simultaneously as original documents, so to speak, and virtually in real time.
Yet, as high intensity events starting with the taper tantrum have shown, macroeconomic fundamentals do not matter in the face of these large and sudden movements of capital, and their economies remain vulnerable to rapid materialization of risks. 14. So far, our quest for a robust, equitable and quickly deployable global financial safety net (GFSN) has remained elusive.