What Experts Say About
Blockchain Technology

The International Monetary Fund: “…block chains could reduce moral hazards and optimize the use of contracts in general.” 8

Ernst & Young Switzerland CEO, Marcel Stalder: “It is important to us that everybody get on board and prepare themselves for the revolution set to take place in the business world through blockchains, to smart contracts, and digital currencies.” 9

Former Federal Reserve Chief Ben Bernanke doubts Bitcoin can replace fiat currency, yet has acknowledged that “the Fed, the Bank of England, and Japan are very supportive of [block chain] technologies because they’ll improve payment systems…[such systems] will be especially effective in expediting cross-border payments.” 10

Harvard Business School Professors Marco Iansiti and Karim R. Lakhani: “[Blockchain technology] “…has the potential to become the system of record for all transactions. If that happens, the economy will once again undergo a radical shift, as new blockchain-based sources of influence and control emerge.” 11

8 2016: IMF, Virtual Currencies and Beyond: Initial Considerations https://www.imf.org/external/pubs/ft/sdn/2016/sdn1603.pdf
9 EY Teams Up With Bitcoin Association of Switzerland May, 2017, https://news.bitcoin.com/ernst-and-young-team-up-with-bitcoin-association-of-switzerland/
10 Fortune, at remarks at a 2017 trade conference. http://fortune.com/2017/10/16/bitcoin-bernanke/
11 Marco Iansiti and Karim R. Lakhani, “The Truth About Blockchain,” Harvard Business Review, Jan-Feb 2017, https://hbr.org/2017/01/the-truth-about-blockchain