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CBDC - Why do we need another Euro, another Dollar?
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 ?

Some key point for debate are:

– Is there a real need for CBDCs? What problem does CBDC solve?
– What will be the impact on financial stability and sovereignty? E.g.: could a Digital Yuan secure more grip on the global financial system for China? Could a digital Euro impact interest rates in Europe and expand its use a global reserve currency ?
– How would CBDCs impact private, possibly more efficient, “stable-coins” backed by a gold or state-backed asset and decentralized digital currencies like Bitcoin and Ethereum?
– How to view the trend of hard line regulations against cryptocurrency to protect against excessive price volatility and possible technology-giant dominance ?
– Will CBDC become legal tender? How will uses and merchants handle having two kinds of fiat (cash & CBDC) in their wallets ?
– How to avoid creating another silo-type platform but instead secure mutually compatible platforms to yield efficient global cross-border remittance payments.

Jun 22, 2021 03:00 PM in Singapore

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