08/07/2020 by Future of Finance 9 Comments
CENTRAL BANK DIGITAL CURRENCIES
A FUTURE OF FINANCE WEBINAR WITH CENTRAL BANKERS, BLOCKCHAIN NETWORKS AND BANKS
Tuesday 7 July 2020 2.00-3.00 pm UK time
One in four people now live in a jurisdiction where the central bank is exploring whether to issue a Central Bank Digital Currency (CBDC), and one in ten of those central banks plans to issue a general purpose CBDC soon. Central banks have many different motivations and objectives, but CBDCs have the power to change everything in financial markets: monetary policy, how payments are made and how securities are traded, cleared and settled. As a Future of Finance event, this panel will marry the experience of the incumbents with the energy of the entrepreneurs to plot a future which transforms the productivity and profitability of financial services.
Register in advance for this webinar:
- Daniel Eidan, Solutions Architect R3 https://www.linkedin.com/in/daniel-eidan/
- Robert Patalano, Deputy Head of Division OECD https://www.linkedin.com/in/robert-patalano-cfa-19...
- Keith Bear, Fellow, Cambridge Centre for Alternative Finance https://www.linkedin.com/in/keith-bear-2b7407/
- Alex Powell, CTO Euroclear https://www.linkedin.com/in/alexapowell/
- Simon Chantry, Co-Founder BITT https://www.linkedin.com/in/simon-chantry-47556013...
- David Shrier, Founder and CEO Visionary Future https://www.linkedin.com/in/david-shrier/
- Dr Sean Stein Smith, Assistant Professor Lehman College (CUNY) https://www.linkedin.com/in/dr-sean-stein-smith-db...
- Moderator, Dominic Hobson, Co-Founder Future of Finance https://www.linkedin.com/in/dominic-hobson-49b8222...
One in four people now live in a jurisdiction where the central bank is exploring whether to issue a Central Bank Digital Currency (CBDC). A recent survey by the BIS found one central bank in ten planning to issue a general purpose CBDC in the near term. Though central banks have many different motivations and objectives, they all know at least one big thing. This is that CBDCs have the power to transform the entire financial system as it exists today. They would affect not only the conduct of monetary policy, and how payments are made within jurisdictions and across national borders, but entire financial markets. That is because they have the potential to achieve what no Stablecoin can: a shift from commercial bank money funding to central bank money funding throughout the banking system and from centralised securities markets to distributed digital asset networks throughout the securities markets. Traditional banks might lose their privileged position in the financial system. Both existing securities and new asset classes might be issued, traded, cleared and settled outside the present infrastructure of stock exchanges, central counterparty clearing houses (CCPs) and central securities depositories (CSDs). At present, the main obstacle to the growth of digital money is the traditional banking system. And the main obstacle to digital asset issuance and trading platforms is the need to come off-network to settle transactions in fiat currency. CBDCs could clear both obstacles.
Topics of discussion include:
• Types of CBDC
• Motivations and objectives of central banks
• Impact on financial stability
• Impact on the conduct of monetary policy
• Impact on commercial bank funding
• Stablecoins versus CBDCs
• Impact on domestic payments
• Use in cross-border payments
• Impact on digital asset issuance, trading and settlement
• Impact on crypto-currencies.
• Realistic timetables for CBDCs
R3 is an enterprise blockchain software firm working with a global ecosystem of more than 350 participants across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.
R3's global team of over 300 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its vibrant ecosystem.
The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions' financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com and www.corda.net.
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