We know that our central banks have been discussing moving to blockchain for a year. But what is really the question, because a blockchain enables real-time visibility into how credit is being created, the assets in circulation and their location, and how far they’ve been lent out; in short, it could help policy makers prevent another crisis. That's what is most relevant. It is also most likely, then, that these central banks will have to create their own blockchains to support this. I doubt that Ethereum could truly support a global financial market, simply because of its fundamental design. Tracking complex financial instruments will require a sophisticated and specific blockchain to do that.
The question then becomes, we have a set of laws that allow institutional investors to report between 2 and 5 months after a trade was made, but blockchain has the power to make these trades transparent. This will simultaneously reduce these banks' ability to rig Treasury auctions (ahem Goldman, who conveniently also dropped out of Ripple), but it will also mean that investors will have an unusual access to current trades being made on the market. There is a level of opaqueness that governs markets right now and it will be daunting to see that transparency pierce through the barriers between retail and institutional investors. The disruption of dark pools will drastically change the game