The CBDC Revolution: Global Implications of Central Bank Digital Currencies
Central Bank Digital Currencies (CBDCs) represent a revolution in the international financial system and of money itself. While most money today is already digital, CBDCs herald a major change to the management of digital public money, and its provision to non-financial enterprises and to the public.
Policymakers as well as financial, legal, and technology stakeholders are already busy debating important questions pertaining to the future functioning of CBDCs, the relationship between public and private money, as well as the technological opportunities and global legal challenges involved.
However, the introduction of CBDCs has even more far-reaching global implications. These follow from the increasingly dysfunctional structure of the current global political economy. The US dollar- denominated international monetary system no longer provides the necessary structural global financial stability and is facing mounting challenges. These crucially include large sections of the non-Western world building their own alternative systemic structures, which risks the rise of a fragmented and even less stable global monetary order.
What constitutive response CBDCs will be able to offer to these global challenges, including the implications for the international financial system, will be the theme of this conference, organised by the Global Policy Institute and the Digital Pound Foundation, and kindly hosted by Clifford Chance.
08:15 – 09:00
Registration & Refreshments
09:00 – 09:45
Welcome Message by the Organisers & Sponsors
Opening address from: Professor Michael Mainelli, Senior Alderman Below The Chair, City of London Corporation & Chairman, Z/Yen Group.
09:45 – 11:00
Session 1: An Overview of the International Situation
Panel discussion chaired by Jannah Patchay (Policy Lead, Digital Pound Foundation), with Francesca Hopwood Road (Head of BIS Innovation Hub, London), Ousmène Jacques Mandeng (Senior Advisor Blockchain, Accenture) and Professor Dirk Niepelt (University of Bern).
11:00 – 11:30
Morning Coffee Break
11:30 – 12:45
Session 2: The Domestic Implications of CBDCs
Panel discussion with Nicholas Butt (Head of Future of Money Division, Bank of England), Rhiannon Butterfield (Principal Policy Adviser, UK Finance), Marjan Delatinne (SETL), and Catherine Gu (Director, Head of CBDC & Protocols | Crypto Infrastructure Build, Visa).
12:45 – 13:45
Lunch & Networking
13:45 – 15:00
Session 3: Regulatory Implications of the Internationalization of CBDCs
Panel discussion with Caroline Meinertz (Partner, Clifford Chance) and Dr Michael Lloyd (Associate Director, Global Policy Institute).
15:00 – 15:30
Afternoon Coffee Break
15:30 – 16:45
Session 4: The Future of Private and Public Currencies in a Global Context
Panel discussion chaired by Dr Michael Lloyd (Global Policy Institute), with Susan Friedman (Head of Global Policy, Ripple), Nick Kerigan (Managing Director, Head of Innovation, SWIFT), and Professor Barry Eichengreen (Professor of Political Economy and Political Science, University of California, Berkeley).
16:45 – 17:00
Close of Conference
17:00 – 18:00
This event would not be possible without the help and support of our event sponsors:
Digital Pound Foundation & Global Policy Institute
Clifford Chance, 10 Upper Bank Street, London, E14 5JJ, United Kingdom
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