ECB Executive Board Member Calls for Bringing Central Bank Money onto Blockchain to Modernize Monetary Policy Implementation

August 29 news, according to Bloomberg, European Central Bank Executive Board member Isabel Schnabel stated that central banks should bring central bank money onto blockchain to revolutionize the implementation of monetary policy. Achieving "on-chain" status would not only preserve money's role as the "cornerstone of settlement" but also allow central banks to leverage the programmable features of distributed ledgers to modernize monetary policy implementation, collateral management, and liquidity provision, thereby promoting financial stability.