Citi is calling on central banks to take the blockchain leap.
In a new interview with CoinDesk, Morgan McKenney, head of APAC cash management for the historically blockchain-forward bank, spoke in detail about her firm's distributed ledger strategy.
And according to McKenney, it's one that might hinge on advances at some of the world's more conservative institutions.
In conversation, McKenney spoke about how a central bank-backed digital currency, long a theoretical idea, would help to further its own work, enabling interoperability with open-source blockchains and providing new liquidity to the global banking system.
As surprising as it may be to hear a brand like Citi discuss 'atomic swaps' and other blockchain holy grails, the effect is one that showcases a more cohesive and collaborative industry.
Incumbents have long been paying attention – now, it sounds like they're gearing up to become innovators.
The proliferation of central banks' cryptocurrencies will go against the grain of de-centralization.