Japan Finance Agency Chief: How to ensure public interest has become a new topic for distributed financial systems such as blockchain

On June 8th, at the G20 summit in Fukuoka, Japan, the head of the Japanese Finance Agency, Endo Junichi, delivered a speech stating that “regulatory rules may inhibit innovation and regulatory rules will not keep up with technological changes”. In addition, the distributed financial system headed by blockchain technology may realize direct transactions between customers and market participants without the intermediary of financial institutions. Therefore, the status of financial institutions may decline. In the case of how to ensure that the public interest has become a new topic.