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Professor David Yermack explains how central banks could utilize blockchain

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Excerpt from the Washington Examiner -- "By processing payments through a blockchain, the Fed could cut out the middleman of banks. Everyone could have a deposit account directly with the Fed via the blockchain, allowing for faster payments and far greater control of prices by the central bank. 'If that occurs, the fractional reserve banking system may become a thing of the past,' Yermack said."

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