The Federal Reserve has begun “technical research” on financial technology, including tokenization and AI in payments, said Christopher Waller, a Fed member and reportedly a candidate for chairman.
The Federal Reserve could benefit from deeper engagement with payments industry “innovators” to better understand new trends and technologies, especially as the use of digital assets grows, Fed Gov. Christopher Waller said Wednesday.
The Fed is conducting “technical research” to explore innovations that include tokenization, smart contracts, and artificial intelligence in payments, he said in a speech at the Wyoming Blockchain Symposium.
“It is my belief that the Federal Reserve could benefit from further engagement with innovators in industry, particularly as there is increased convergence between the traditional financial sector and the digital asset ecosystem,” Waller said. “We are working on ways to further that engagement, so stay tuned.”