Federal Reserve Governor Chris Waller delivered a speech in Jackson Hole, Wyoming, where he emphasized that digital asset innovations, including smart contracts, tokenization, and distributed ledgers, should not be viewed with apprehension. According to Waller, leveraging technology to develop new payment services is a natural progression and not a cause for concern. As a long-time supporter of the industry and stablecoins, Waller believes that certain innovations have been unfairly criticized due to their association with digital assets. He encouraged the exploration of these technologies, stating that they could lead to more efficient and interesting solutions.
The Federal Reserve is currently examining the potential of tokenization, smart contracts, and distributed ledgers, with Waller noting that even if the central bank does not adopt these technologies, it is still important to investigate their potential. His comments follow those of Fed Vice Chair for Supervision Michelle Bowman, who also expressed support for the industry and advocated for more favorable treatment by banks and regulators.