US CFTC Chairman: Blockchain technology should improve regulators' response to the 2008 financial crisis

According to Cointelegraph, on June 3, J. Christopher Giancarlo, chairman of the US Commodity Futures Trading Commission (CFTC), said in Rome, Italy that blockchain technology could have been "faster, more comprehensive, and more responsive to the 2008 financial crisis." Accurate regulatory interventions are possible. The Chair stressed that the 2008 regulators will benefit enormously from real-time distributed ledgers (DLTs). He said that the usefulness of DLT can be further enhanced by the realization of innovative cognitive computing capabilities to identify “the anomalies in trade activities and the risk of counterparty risk in the market”, which indicate a higher risk of bank failures. .