OFFICIAL SAYS FEDERAL RESERVE COULD BENEFIT FROM THE BITCOIN BLOCKCHAIN

David Andolfatto, vice president of the Federal Reserve Bank of St. Louis, came out Monday with some words that should be encouraging to the Bitcoin world. He said that the open-source, transparent, decentralized management of the blockchain, the ledger that underpins all Bitcoin transactions, is a ‘stroke of genius.’ He believes the Federal Reserve could do a lot better job in being accountable to the public.
He derided the notion that Bitcoin or other digital currencies are the future, however, and unequivocally stated that nearly all money used in modern economies is, in fact, digital. Adolfatto did not offer a great deal of evidence to back up this statement.

This post was published at Crypto Coins News on January 21, 2015.