NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, June 15, 2016

Blockchain technology that underpins digital currency such as bitcoin has been gradually moving from the ‘hype phase’, seen for the most part of 2015, to actual ‘experimentation phase’ with the advent of various blockchain consortiums and alliances.

Now the White House has acknowledged the potential of the technology to help advance the financial well-being and economic prosperity.

In a blog post published on the official White House website, Adrienne Harris, Special Assistant to the President for Economic Policy, said that the White House on Friday convened stakeholders from across the fintech ecosystem, including traditional financial services institutions, fintech startups, investors, thought leaders, and policy makers, to discuss how fintech can help advance critical economic policy priorities