In a period of remarkable change for money and payments, central banks are looking to create their own digital currencies in order to support the future needs of a digital economy. The challenge of creating central bank digital currencies (CBDCs) means finding the balance between innovation and stability. We answered some of the fundamental questions often arises.
- What problems do CBDCs solve?
- How close are central banks to creating a viable CBDC and how would they work in practice?
- Can CBDCs ever fully replace electronic money and cryptocurrencies, or is co-existence more likely?
Honoured to have been part of the panel at the Financial Times Global Banking Summit, and the delivery of a masterclass "Designing a Digital Currency." It was a privilege to join experts such as Mike Alonso (BIS) and Soren Mortensen (IBM) in a compelling discussion with Joshua Franklin (FT) on the future of Central Bank Digital Currencies
During our session, we covered a diverse range of topics, including privacy, trust, fraud, monetary policy, and environmental sustainability.