Speaking at a G-20 conference on finance and digitalization, Carney emphasized that DLT could revolutionize key banking processes, including payments, clearing, and settlement, by enhancing efficiency, accuracy, and security. He highlighted that this technology could lead to substantial capital savings and improved resilience across the financial system, suggesting a future where settlement systems are increasingly streamlined and compliant.
Carney also addressed the potential impact of DLT on CBDCs, pointing out both benefits and challenges. He noted that CBDCs could offer direct public access to a "risk-free" asset but warned that such access might sharply increase liquidity risks for traditional banks, potentially disrupting the existing financial system.