EXPERT ROUNDTABLE WEBINAR
with global central banks
22 June 2021 | 8-930 CET | 2-3.30 SGT
ROUNDTABLE EXPERT WEBINAR with global central banks
Tuesday 22 June 2021 | 8.00 – 09.30 AM CET / 14.00 – 15.30 SGT
Join us for this special debate with Central Bankers and key experts from around the world to highlight why we should create CBDC’s.
The debate about central banks issuing not only physical notes and coins but now also a digital form of cash is raging across the world. Some see it as a way of answering the threat from Facebook’s Libra/Diem, some see it as a push towards more digitization in a cash-less world.
Why do central banks feel they may need to issue a digital currency ? In most parts of the world we are a long way from being cashless and we are already paying digitally in all sorts of ways. Money directly from central banks will put pressure on commercial banks’ so how can they be motivated to distribute the CBDCs to their customers ?
Isn’t there really more than enough digitization and innovation going on in payments already and do we really need yet another form of our fiat currency ?
In the meantime, the central banks of China, the United Arab Emirates, Hong Kong and Thailand have joined in a digital currency initiative using blockchain for cross-border payments. Named: “the Multiple Central Bank Currency Bridge” (m-CBDC Bridge). The project is a collaboration conceived by the Basel-based Bank for International Settlements (BIS) with the HongKong Monetary Authority (HKMA) and the Bank of Thailand (BoT).
According to the BIS, the central banks will deploy distributed ledger technology (DLT) to develop a proof-of-concept prototype with the aim of making regulation-heavy foreign exchange payments cheaper and more efficient. Some analysts say m-CBDC Bridge may be even seen as a challenge to the SWIFT, which currently brokers the bulk of global foreign currency transactions.
Meanwhile, one of the pillars of the Eurosystem, the German Bundesbank, has negated the need for a Central Bank Digital Currency – arguing that a distributed ledger, that they deployed successfully for securities after working on it for six years, may be a better approach.
So there is still quite some confusion and debate on the topic and a real need to shed some light.
Some key point for debate are:
Share the expertise with our Global Top Expert Panel
We are happy to introduce a true expert level panel to introduce the CBDC challenges and discuss a.o. above topics and of course your key questions during the 1,5 hour debate.
Moderator / APC Expert Council – Amsterdam
Executive Advisor equens Worldline SE >>
Professor of Payment Systems & Senior Economist at the Dutch Central Bank >>
Principal Market Infrastructure Expert for Payments Policy | European Central Bank >>
Member of the Board Future Corporation – Head Future Institute of Research (Former Director-General, Payment and Settlement Systems Dept., Bank of Japan) | Tokyo