Brian Brooks, the Acting Comptroller of the Currency and former head of Coinbase’s legal department, put forward blockchain as better than the United States’ current bank-dependent payments system.
Decentralization for future payments
On July 29, Brooks spoke with Aaron Klein of the Brookings Institution, a major U.S. think tank. In answer to hypothetical platforms for a future five-year term as Comptroller — Brooks is, at this point, in a liminal state as acting comptroller — Brooks emphasized decentralization:
“I’M A BELIEVER IN DECENTRALIZATION. AT THE END OF THE DAY, I THINK THAT STABLECOINS AND OTHER BLOCKCHAIN-BASED TOKENIZATION OF DOLLARS ARE THE MOST RESILIENT MODEL FOR LONG-TERM FASTER PAYMENTS. BETTER THAN A CENTRAL BANK MONOPOLY ON THE PAYMENTS SYSTEM.”