Security and buy-in from millennials cited as the two big drivers influencing the US Fed’s position on cryptocurrency

Colleagues, the US Fed’s Jim Cunha, Vice President for Treasury and Financial Services, offered up a prediction that the US government could adopt a Blockchain-based cryptocurrency within the next five years. We have previously stated such a move could take place within three years. Perhaps the reality of US Fed-backed cryptocurrency lies somewhere in between. Cunha’s remarks at a recent conference in Boston (akin to an East Coast version of South by Southwest) reveal some insight to the US Fed’s thinking. The major reservation shared by Fed officials is security of a central bank crypto and its underlying Blockchain. By contrast, the 30-year Fed veteran recognizes that millennials in aggregate have concerns about the old-school financial establishment – presumably government and private sectors alike – which makes them much more open to a national cryptocurrency than their gray haired “over 50” financial leaders of our current era. Share a comment while visiting us today! Lawrence – Cyber Security Defender (https://cybersecuritydefender.blogspot.com/)