Federal Reserve Bank Panel on Digital Currencies; Opportunities & Risks

Gartner 14 Sep 2021 04:44

Digital currencies are going to change every aspect of how we transact and do business with each other over the next five years. 81 countries are already experimenting or implementing central bank digital currencies (CBDC) representing 90% of global GDP. (See Atlantic Council ) China reportedly has already disbursed over $5.3 Billion of its new Digital Yuan, as of June 2021. See Markets Insider.

Meanwhile, regulators across the globe are struggling over how to safeguard consumer adoption of cryptocurrencies and stablecoins, while holdings and trading in these currencies grow exponentially. (Assets locked on DeFi are still a fraction of the worlds financial assets, or under $100 Billion compared to some $316 Trillion).

I’m super excited and honored to be moderating a panel on this subject for the Federal Reserve Bank of Chicago on September 29th.  You can register here: Chicago Payments Symposium 2021

I am joined by premier practitioners and experts in this area. These include representatives of Central Banks with firsthand CBDC experience (Bahamas, Sweden) and from the U.S. which is closely examining the feasibility of a Digital Dollar.  Also on our panel is the Chief Strategy Officer of Circle  which supports USDC, the fully reserved US dollar stablecoin.

We have lots to discuss (time permitting) in each of these areas:

Staying informed on digital currencies is important, as the implications to our economy, populations and way of life are far-reaching. Dialogue is critical as we collectively explore these new frontiers and opportunities. Thank-you to the Federal Reserve for sponsoring this discussion.

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See Atlantic CouncilDeFiCentral BanksFederal Reserve Bank of ChicagoChina
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