US Federal Reserve to use Ethereum to help transition away from the use of LIBOR

On 28 May 2020 the US Federal Reserve advised that they support a move away from the use of LIBOR to the use of AMERIBOR. They advised that:

'Ameribor is a reference rate created by the American Financial Exchange based on a cohesive and well-defined market that meets the International Organization of Securities Commission’s(IOSCO) principles for financial benchmarks...'.

This is very significant news for Ethereum because AMERIBOR uses a permissioned version of the Ethereum blockchain. The American Financial Exchange (AFX) advised that '...This is AFX’s first major blockchain initiative...we learned a great deal about this new and exciting technology and believe the blockchain has the potential to transform electronic trading and financial markets. AFX is committed to remain in the forefront of this new technology.'

See Forbes article here. and cryptobriefing article here.

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