The future design of market infrastructure need not be a pure centralised or decentralised system, but can combine elements of both, the governor of the Bank of Japan said today (October 4).

Haruhiko Kuroda said there were clearly advantages to maintaining aspects of a centralised model, especially where an entity – such as a central bank – had gained people’s trust as a central book-keeper. Nevertheless, decentralised systems such as distributed ledgers could bring advantages in terms of cost