“The evolution of power of Blockchain: a central banker’s balancing act” Speech by Klaas Knot at the EBF Conference The Evolution of Power, Groningen, 5 October 2018 In his speech at the EBF Conference The Evolution of Power, Klaas Knot shares the current thinking of De Nederlandsche Bank on blockchain and distributed ledger technology solutions, highlighting both the opportunities and the risks.
Innovations like distributed ledger technology have potential in the financial system where there are some interesting and promising business. Yet, more widespread trading of cryptos may lead to reputational risks for financial institutions, and affect confidence. Introduction The title of this conference, ‘Evolution of power’, puts me in a somewhat awkward position. I am after all the president of a central bank.