The BID prez has a vision for financial infrastructure.
General manager of the Bank for International Settlements Agustín Carstens spoke at the Singapore FinTech Festival on Feb. 22 and described the digital financial infrastructure he believes would best suit central bankers’ needs. He called that infrastructure a “unified ledger.”the theoretical unified ledger with a smartphone, saying they both work seamlessly with a variety of components.
“A unified ledger is a digital infrastructure with the potential to combine the monetary system with other registries of real and financial claims.” A unified ledger would not have to be decentralized or permissionless, Carstens said, but could accommodate a variety of projects that “use of money as a means of payment and settlement” where the central bank plays a large role in the governance of the ledger and the consumer-facing sector is in private hands.
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