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ECB Executive Board Member Calls for Central Bank Money on Blockchain
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News EditorIsabel Schnabel, an executive board member of the European Central Bank, said central banks should put central bank money on blockchain to modernize monetary policy implementation. She argued that on-chain money would preserve its role as the settlement backbone and let central banks use distributed ledger programmability to update policy execution, collateral management and liquidity provision, supporting financial stability.
Isabel Schnabel, a member of the European Central Bank's Executive Board, has called on central banks to bring central bank money onto blockchain-based systems as a way to modernize how monetary policy is executed.
By moving money on-chain, she argued, central banks can protect its status as the settlement backbone. They could also tap into the programmability of distributed ledgers to update monetary policy operations, collateral management and liquidity supply, which in turn supports financial stability.
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