In this episode, we will:
Central Bank Digital Currencies are no longer a dream. 9 Countries, including Nigeria, have fully rolled out a CBDC platform. Numerous others, including China, are testing the system with pilot programs in progress. China’s program alone dwarfs the size of many country’s entire population, with 140 million people and more than 1 and a half million merchants participating.
The United States Federal Reserve is exploring a digital dollar, and the European Central Bank is ahead of its American counterpart in its study of a digital Euro. The upsides of a CBDC are plenty, including reduced transaction cost, increased international financial integration, an expansion of access to financial services for low-income and vulnerable populations, and more.
However, there are drawbacks. The crash of the ECCB’s digital currency system highlights a potential vulnerability if a system were to go offline, and there is a risk that a government could use the technology to further serve surveillance goals, among other privacy and technical considerations.
In Episode 27 of Driving Fintech Forward, we’ll explore the past, present, and future possibilities of CBDCs, and their potential to drastically change the financial landscape as we know it.
Driving Fintech Forward is hosted by Elena Kozhemyakina of Fintech4Funds, and our guest speakers for this episode are:
- Christian Trumm, Fintech Advisor & Global Expansion Leader at CT Advisory
- Matthew Key, KeyInnovate
- Urs Bolt, Fintech Leader and Expert
Join the session to explore: -The current implementation landscape of CBDCs across the globe -The exploration of the digital technology by some of the world’s largest economies -Fintech’s role in the budding space -The advantages and disadvantages the new technology poses