Speech by Fabio Panetta, Member of the Executive Board of the ECB, at Columbia University
New York, 25 April 2022
170 years ago Americans pushed westward across the frontier to seek their fortune in the gold rush. Greed and lawlessness turned this promised land into the Wild West, where the few exploited the dream of the many.
Fast-forward a century and a half and, amid the global financial crisis, growing distrust of banks, coupled with technological innovation, gave rise to a new dream – a digital gold rush beyond state control.
Satoshi Nakamoto – or rather the software developers using