Fed's Waller Sees 'Promise' in Using Blockchain Tech

The video discusses the use of smart contracts and blockchain to improve efficiencies in financial transactions, such as foreign exchange and repo transactions. It highlights the potential of atomic settlement to mitigate risks but also warns of the risks associated with instant settlement, including fraud and cyber vulnerabilities. The video emphasizes the importance of critically evaluating innovations like tokenization, AI, and quantum computing, while encouraging those that benefit society and finance.

In what ways could tokenization impact the future of banking and finance?

Why is it important to critically evaluate claims about innovations like blockchain and smart contracts?