Powell believes that Fintech firms are finding new and creative ways to leverage data to provide consumers with convenient services. But he also notes there is a balance between innovation and security. Policymakers musk ensure that better, faster services must also be highly secured services. Powell sees many hurdles to wide usage of Blockchain stating “firms are still grappling with the business case for upgrading and streamlining payment, clearing, settlement, and related functions with DLT.” He believes technical issues, legal hurdles and cost may slow things down. While saying we should be open to new ideas he notes the public sector must insist on security and safety.

https://www.crowdfundinsider.com/2017/11/123988-apparent-fed-chair-pick-jay-powell-supportive-fintech/