CoinVoice recently learned that according to The block, Federal Reserve Governor Christopher Waller said at the 19th Vienna Macroeconomics Symposium in Vienna, Austria that technological progress can "promote improvements in financial efficiency." DeFi will not replace centralized finance, in part because intermediaries are still needed. "While some services that have emerged through DeFi are not available in centralized finance, the technological innovations brought about by DeFi are largely complementary to centralized finance." "They have the potential to improve centralized finance, thereby increasing the significant value provided by financial intermediaries and centralized financial markets."

Christopher Waller is one of the seven members of the Federal Reserve's Board of Governors and was nominated to the position in 2020 by former President Donald Trump.

Christopher Waller has previously compared cryptocurrencies to baseball cards, preferring stablecoin innovation rather than central bank digital currencies. Christopher Waller also believes that privately issued stablecoins will strengthen the dollar rather than weaken it. [Original link]