CFTC Commissioner: Blockchain Could’ve Prevented Run on Lehman Brothers

[kreslik.news]

When a new technology threatens to disrupt an established industry, the first instinct of the authorities is to suffocate it with regulations. In time they learn to adapt and try to bring it into the existing system. But now it seems that at least one American regulator is calling to rush past the first stage with regard to blockchain.

CFTC Commissioner Christopher Giancarlo gave a speech on Tuesday to the Depository Trust & Clearing Corporation 2016 Blockchain Symposium where he urged regulators to adopt the Hippocratic Oath on the technology: “first, do no harm.” Giancarlo also proclaimed that blockchain and smart contracts ... (read more)