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Speech
Challenges that the recent financial market turmoil places on our macroeconomic modeling toolkit
Remarks at the Swiss National Bank Research Conference, Zurich, Switzerland, September 19, 2008
Discussion Paper
Blockchain and Financial Market Innovation
Blockchain technology is likely to be a key source of future financial market innovation. It allows the creation of immutable records of transactions accessible by all participants in a network. A blockchaindatabase is made up of a number of blocks “chained” together through a reference in each block to the previous block. Each block records one or more transactions, which are essentially changes in the listed owner of assets. New blocks are added to the existing chain through a consensus mechanism in which members of the blockchain network confirm transactions as valid.While all are in ...