The rapid rise of digital dollar stablecoins has been paralleled by accelerating interest from central bankers on the role and possibilities of Central Bank Digital Currencies (CBDC). To some in the industry, these are viewed as at odds with one another, to others these are ultimately two sides of the same coin, converging trends that will emerge through broader public sector and private sector collaboration in the coming years and decade ahead.
No matter, everyone seems to agree that digital dollars and digital currency more broadly are the future of electronic money and the broader global financial system. How will these two phenomenon interact, compete or simply just co-exist?
On this week's Money Movement we're joined by Visa's Head of Crypto, Cuy Sheffield; Neha Narula, the Director of MIT's Digital Currency Initiative, an institute leading research and development in crypto, digital currency and now CBDC models; and Robert Bench, AVP at the Federal Reserve Bank in Boston, and a key contributor and collaborator on the future of digital currency with the Federal Reserve.
The global economy is experiencing unprecedented challenges and change. Business leaders everywhere are grappling with how to transform their companies to become more digital, resilient and efficient. As we face this change, a new global movement is building around the promise of digital currencies and blockchains — forming a new architecture for the global economy and creating new opportunities for companies everywhere. The Money Movement explores and chronicles the issues and ideas driving this brave new world of digital money.