According to a conversation with crypto analytics company Elliptic on Wednesday, the outgoing leader of the Office of the Comptroller of Currency is convinced that the future of finance is blockchain-owned.
Since taking over as Comptroller Joseph Otting (Joseph Otting) in May, Brooks has been described by Oval CEO Simone Maina as the “fairy godfather of the crypto industry.” Today, he outlined the following points His opinion Yesterday’s “Financial Times”.
In other words, Brooks took this opportunity to promote his views on OCC, which examines the responsible behavior of algorithms rather than bankers: “Imagine a world in which we grant software charters instead of individuals.”
This concept is consistent with Brooks’ overall work to promote the National Charter of non-deposit financial institutions- Called “non-bank charter”. Broadly speaking, the Acting Comptroller believes that the technological change he is trying to prepare for the law is inevitable:
“My view is that the future of finance will inevitably spread on the Internet like information 25 years ago. We need to prepare a bank for this world, and we need to prepare a bank charter for that world.”
Description Recent political platforming The argument from social media and payment processors is chilling, Brooks went on to point out:
“Encryption is about freedom. There is no CEO to de-platform. If you didn’t believe that freedom was important last week, you should believe in freedom today.”
But Brooks confirmed what people have long suspected: his time at the OCC will end with the incoming Biden administration. He said: “There will be another controller, not me.”