13 min read
CBDC and the Future of Monetary Policy [Webcast]
April 13, 2021
2 min read
Cryptocurrencies like Bitcoin and Ethereum seem to be all the rage, making headlines left and right. But there’s another kind of digital currency, Central Bank Digital Currency, or CBDC, which may have an even bigger impact on the banking and payment industry. CBDCs are similar to cryptocurrencies but are, by definition, centralized, a significant distinction. This is why some have speculated that governments as well as major financial institutions, are more likely to adopt CBDCs in favor of cryptocurrencies.
China recently moved forward with its plan to roll out its own central bank digital currency. The pilot program is now in its second phase and allows users to control transactions from a digital wallet using their mobile devices. This has also raised questions as to whether or not the US should issue its own digital currency and what the pros and cons are of taking such an action.
CBDCs have the potential to dramatically shift how traditional payment and banking systems work and may displace cryptocurrencies in institutional adoption. Even though there has been an increasing acceptance of bitcoin and NFTs (built on blockchain technology), financial and government adoption hasn’t come close. CBDCs, however, may buck that trend as governments and financial institutions look for opportunities to take advantage of digital currencies.
To learn more about how CBDCs will impact the banking and financial industry, sign up for our live webcast featuring Howard Mason, Financial Analyst at Renaissance Macro. You’ll learn the difference between cryptocurrencies and CBDCs, how private and public can leverage CBDCs and eCash, and how this new digital currency can transform the payment industry in the near future.
The webcast will go live on April 21st at 11 AM EDT | 3 PM GMT.
Secure your spot here.
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