[Interoperability between all banks has] been one of the arguments for blockchain-based payment systems like Facebook's (FB) Libra, which would circumvent the need for third-party payment settlement. During two Congressional hearings on Libra last month, some lawmakers called on the Fed to create a real-time payment system itself rather than having to rely on a network developed by Facebook.

It's a reminder that blockchain solutions aren't as useful if there actually is a trusted central entity, upon whose sterling reputation the global economy relies in the first place, to record transactions. And it does speak to a mission to regulate and facilitate interstate commerce. If they get the branding and execution right this could be huge for enabling micro-entrepreneurship. Of course, they won't get it right, but one can dream.