Departing leader of the Office of the Comptroller of Currency Brian Brooks believes the future of finance will depend on blockchain, he said during a recent interview with crypto analytics platform Elliptic.

Brooks described his image for the future of the OCC, explaining that he saw the organization auditing algorithms rather than banks. He added that the OCC could soon be granting charters to softwares instead of individuals.

“My thesis is that it is inevitable that the future of finance will go on the internet like information did 25 years ago, and we need to prepare banks for that world and we need to prepare banking charters for that world,” Brooks said.

By Emily Mason