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Central Bank Digital Currencies;
from concept to reality
With more movement on Central Banks prioritising digital currencies, join us and delve into the latest projects to understand the CBDC perspectives of both central and commercial banks.
Carefully curated to support central banks and the wider ecosystem on their journey in developing digital currencies
Hear from the trailblazers behind some of the latest initiatives and developments in CBDCs, including Banque de France, Bank of Jamaica, AWS, HSBC, Token Intelligence, eToro, Bank for International Settlements, FIS and Deutsche Bank
Be part of the dialogue on current CBDC positioning and future roadmap
Get unique insights into global retail and wholesale CBDC trends, including the latest in innovations delivered by the CBDC community and take back new approaches as you navigate the demands of your role
Demystify the macroeconomics, global policy, regulation and politics around CBDC and its impact on financial stability
Hear from the Bank for International Settlements who along with Banque de France, the Swiss National Bank and a private sector consortium were behind Project Jura – cross-border settlement using wholesale CBDC
Scrutinise work to date and discuss what is required for the ideally designed CBDC, with interoperability, integration and efficient payment systems in mind
Delve into how central banks and payments innovators around the world are developing their respective CBDCs and digital money
Make global business connections with senior-level like-minded peers, speakers, service providers to continue to shape the future of digital currencies
Get insights into the overall design, management and operations to deliver the US-based FedNow Programme
Miles Au Yeung
Agenda – 10 March 2022
All timings are GMT
Panel debate: CBDCs – are we ready to take this game changer from concept to reality?
- Are we warming up to Central Bank Digital Currencies globally?
- Why introduce CBDC and who gains the most?
- Understanding the monetary and ecosystem challenges.
- Control over currency: Must central banks succumb to the pressure to develop a government-backed digital currency?
- How can CBDCs contribute to the modernisation of the international monetary landscape and reconfigure the payment and financial infrastructure?
- A question on financial stability: How is the regulatory, legal, policy and competitive environment unfolding around CBDC’s and what upgrades are needed?
- How do new forms of digital money compare with CBDC and the implications of this?
Projects Helvetia and Jura: Learnings from two recent wholesale CBDC experiments
- Phase 2 of Project Helvetia and Project Jura were two wholesale central bank digital currency (CBDC) experiments with involvement of the Swiss National Bank and the BIS Innovation Hub.
- Project Helvetia focused on the integration of wholesale CBDC into the existing financial ecosystem. It demonstrated that a wholesale CBDC can be integrated with existing core banking systems and processes of commercial and central banks.
- Project Jura tested the cross-border settlement of tokenised assets and wholesale CBDC. It studied a new approach for central banks to allow access to wholesale CBDCs for regulated non-resident financial institutions. It demonstrated that DLT-based platforms can be used effectively for international settlements between financial institutions.
Panel debate: Designing CBDCs – what to cherry pick?
- What are the desired design characteristics of a CBDC system?
- What are the design concerns around the introduction of CBDC, and how do we ensure there is not bank disintermediation and an effective and widely used digital currency exchange?
- Insights into the functional scope, business model and controls required to meet the demands and ensure robust use before we tackle the technology?
- Are there any performance or trust concerns over the blockchain technology and ensure secure by design from the off-set to ensure public confidence?
- Addressing interoperability concerns between platforms due to different code languages, standards and regulations
- How important is merchant acceptance, intermediaries and an attractive value proposition with incentives to use CBDCs for payments?
- Creating a safe space for tomorrow’s CBDC innovation – the importance of user experience, accessibility and co-existence with fiat currency
The FedNow approach
- Insights into the overall design, management and operations to deliver the US based FedNow Programme
- Understanding the complex infrastructure needed to ensure robust delivery and service management
- Lessons learned to date and what are the continuous improvement initiatives in place?
- What are the opportunities for new entrants and existing institutions and how should they prepare for 2023 roll out?
Panel debate: Survival of the fittest. What do CBDCs mean for the future of DeFi and stablecoins?
- How central banks and payments innovators around the world developing their respective CBDC’s and digital money – main drivers, timeframe for delivery and customers demand
- What progress is being made in integrating CBDCs with other payment systems and applications?
- How is programmable decentralised and centralised digital money going to change the existing financial system? What are the supporters and naysayers saying?
- The growth of crypto-assets, stable coins and decentralised finance (Defi) – what are the unique set of challenges for regulators and the associated risks?
- Can CBDCs, stable coins and DeFi co-exist or will one prevail over the other?
- Enabling new models of payment with the reliability and stability of fiat money as means of speeding up payment systems, whilst reducing fraud
US Federal Reserve – the digital US dollar
Use case: Bank of Jamaica and eCurrency Mint
- The Jamaican Central Bank Digital Currency initiative: The process of embarking on this exploratory project
- Learnings from the sandbox – insights into the stakeholders and collaboration initiatives
- The rollout so far – early learning from the 2021 pilot
Leveraging CBDC for better cross border payments
- Cross-border advancements: How to we ensure private and public sector are able to play to the relevant strengths and ensure project interoperability?
- Removing frictions in cross-border payments – looking beyond technology and operations to regulation, legislation and frameworks
- Retail, wholesale and cross-border: What is the value adding business model for front-end service providers?
- How can distributed ledger technology be leveraged to map out how cross-border payments and settlement arrangements could look like in the future?
- Learnings from wholesale CBDC projects like Project Jura: Improving the existing payment infrastructure, issuing wholesale CBDC on a third-party platform, navigating policy issues and efforts to improve the speed to near real-time, and efficiency to support market requirements
- Improving efficiency of cross-border and inter-bank payments – is removing intermediaries and reconciliation processes the right call? What are the opportunities to improve transparency and compliance practice?
- Encouraging digital payment usage in emerging markets in a way that supports financial inclusion
Closing keynote interview: The long road to cashless – geopolitics, reputation and risk
- A question of reputation and risk – where does the CBDC path take us?
- Geopolitics and CBDCs – what are the opportunities and volatilities to consider?
- What questions and concerns do Governments have?
- Is it truly possible to manage retail payments on a large scale?
- What about customer information and transactional history – does this compromise banking secrecy and personal data?
- Will CBDCs truly improve financial inclusion, bridge the gap with the unbanked and modernise the current monetary system?