Bank Updates

Ten troublesome blockchain terms: What’s accurate, what’s not?

A deep dive into blockchain verbiage to bring clarity to this evolving worldwide discussion

Jay Weiner | Manager, Communications

Published February 22, 2019

Allison Bertelson/Minneapolis Fed

The word, the concept, the technology seem to be a globally trending topic: blockchain.

And the terminology used in any blockchain conversation includes as many question marks as answers. To name just a few of the terms: What about blockchain’s security, its immutability, and its resiliency?

A group of Federal Reserve System staff dived deeply into blockchain verbiage to bring clarity to this ongoing and evolving worldwide discussion. The result is “Ten troublesome blockchain terms: What’s accurate? What’s not?”

The goal: To stimulate additional conversation and to ultimately reduce regulatory inconsistencies, improve communication, and contribute to the accurate assessment of risk.

Ten troublesome blockchain terms: What’s accurate, what’s not? [pdf]

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