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Philadelphia Fed’s conference to focus on bitcoin and blockchain

The Federal Reserve Bank of Philadelphia is going to host an event later this month that will discuss the impact of financial technology or fintech on consumer choice, banking, and regulatory policy.

To be held on September 28-29, the conference is being co-hosted with the Journal of Economics and Business. It will bring together experts from academic institutions, regulatory agencies, and the financial industry to discuss various issued related to fintech.

The event will particularly focus on bitcoin, blockchain, machine learning, and other emerging technologies. A session on “Bitcoin, Blockchain, and Cryptocurrencies” will feature William Nelson, executive managing director of The Clearing House, and Jim Cunha, senior vice president of the Federal Reserve Bank of Boston.

The central bank branch said:

“Blockchain technology, which was initially used for BitCoin transactions, also has the potential to create a major disruption in the financial landscape. Moreover, many countries (including Sweden, Korea, and China) have explored their own digital currencies. It remains unclear whether this sector will continue to grow (since it has not yet gone through the entire economic cycle) and what impact it will have on monetary policy and financial stability overall.”

The two-day conference will also see four paper presentations on digital currencies, blockchain, and smart contracts:

  • “The Law of One Bitcoin Price?” by Alexander Kroeger and Asani Sarkar (FRB New York)
  • “Blockchain Disruption and Smart Contracts” by Lin William Cong and Zhiguo He (University of Chicago)
  • “The Price of a Digital Currency” by Arash Aloosh (NEOMA Business School)
  • “The Economics of Distributed Ledger Technology for Securities Settlement” by Evangelos Benos (Bank of England), Rod Garratt (University of California, Santa Barbara), and Pedro Gurrola-Perez (Bank of England)

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