Borrowing from the startup world and some popular TV shows, Citigroup is encouraging employees to pitch innovative ideas to a panel of senior execs who could give them the green light to start work.
The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.
Brian Behlendorf, leader of the Linux Foundation's effort to establish standards for blockchain, likens the invention of cryptocurrencies to the moon launch and says banks, open-source developers and others are working to make the underlying technology commercially viable.
During his time as Fed governor, Chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.
