Jerome Ajdenbaum is managing the Digital Currency business at IDEMIA. He is the author of a bestselling book “Who Will Win the Cryptocurrency War?” and is frequently interviewed in the press on subjects ranging from to cryptocurrencies and the politics of the political aspects of the metaverse.

As a leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. IDEMIA offers its public and private customers payment, connectivity, access control, travel, identity and public security solutions. Every day, around the world, IDEMIA secures billions of interactions in the physical and digital worlds. With nearly 15,000 employees, IDEMIA is trusted by over 600 governmental organisations and more than 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach.

Lessons from the Digital Euro offline Prototype

The ambition behind the digital Euro is clear : Combine convenience of digital payments with cash-likes features A key component of this is enabling offline payments, which presents both opportunities and challenges. To explore this, Worldline developed a prototype for the European Central Bank (ECB) to test the feasibility of offline transactions. In this session, IDEMIA and Worldline will share their experiences and findings from this innovative initiative.

 

David Bochorishvili has 10 years of professional experience, specializing in risk management, digital assets and machine learning. Presently, David directs his attention towards projects such as CBDC and Smart Contracts, playing an active role in the execution of Georgia's Fintech strategy.

The National Bank of Georgia (NBG) is the central bank of Georgia. The main objective of the National Bank is to ensure price stability. Georgia's first central bank was established in 1919. In its current form the National Bank of Georgia has existed since 1991.

Smart Contracts and a CBDC pilot
This presentation will discuss the legal and technical challenges and implications of Smart contracts within the jurisdiction of the National Bank of Georgia. It will also examine some use-cases of Smart Contracts in finance. Smart contracts are an essential element of the NBG's envisioned CBDC ecosystem and are also crucial for the wider fintech industry. Additionally, an updates on the NBG's CBDC pilot project will be given.

Menno Broos is the project lead for retail CBDC (also called the digital euro) at the Nederlandsche Bank, the Dutch central bank. In this capacity, he participates in the project steering group (PSG) of the digital euro project together with other counterparts from the Eurosystem. Before this role, he has worked in various positions at DNB and the ECB.

De Nederlandsche Bank is a central bank, supervisor and resolution authority of The Netherlands. One of its major tasks is to promote the smooth functioning of the payment system.

Panel discussion : Offline payments with CBDC

The implementation of offline payments in retail CBDCs presents both significant challenges and essential benefits.

Challenges include ensuring robust security and privacy in transactions without online verification, which is critical to prevent fraud and unauthorized access. Developing reliable, secure hardware or software solutions that can function without an internet connection is technologically demanding. Additionally, creating a universally accepted offline payment system requires infrastructure upgrades and compatibility across diverse devices and platforms. There's also the issue of maintaining transaction limits and monitoring for compliance with financial regulations, all while offline.

Despite these challenges, the importance of offline payment capabilities in CBDCs cannot be overstated. They enhance financial inclusion by providing access to digital payments in areas with limited internet connectivity, thus reaching underserved populations. Offline functionality also ensures transaction continuity during network outages or in emergencies, supporting resilience in payment systems. Moreover, it offers a level of convenience and privacy for users, promoting broader adoption of CBDCs. Ultimately, developing robust offline payment solutions is vital for a resilient, inclusive, and widely usable CBDC ecosystem.

Ross Buckley is a Scientia Professor at UNSW Sydney. His research on FinTech is world-leading. He is a board member of Australia’s central bank and chairs the Digital Finance Advisory Panel of Australia’s securities regulator. He has twice been a Fulbright Scholar, at Yale & Duke.

UNSW Sydney is a leading comprehensive university ranked in the top 20 in the world.

The Implications of CBDCs for the US Dollar and the International Financial System
CBDCs will facilitate the direct exchange of many currencies and thus reduce demand for the US dollar as a vehicle currency. This decline in demand for the dollar will reduce the proportion of dollars nations elect to hold in their foreign exchange reserves, thereby exacerbating the current long-term decline in the dollar as the principal global reserve currency. It follows the US will need to issue a wholesale US dollar CBDC for offshore use to have any prospect of maintaining the primacy of the dollar as a global reserve currency and garnering all the benefits this confers.

Carmelle M. Cadet is the Founder and CEO of EMTECH, a technology company working with central banks around the world to make their financial infrastructures inclusive and resilient by design.

EMTECH is the first and only technology company building modern central banking infrastructures for regulatory compliance

and currency matters under one roof. We think of central banking holistically and we leverage modern technology to drive inclusion, resilience and sustainability.

Ushering in the Era of Modern Central Banking

The business of Central Banking is rapidly evolving. Bankers, FinTechs and Regulators are grappling with the move to digital currency and the added pressures of regulatory compliance.  Many Central Bank processes are still conducted manually. This session will discuss how industry professionals can prepare for the age of digital infrastructure and stricter compliance standards.

Diana has over 20 years’ international experience in driving innovation in payments and digital banking. She has held senior positions at Lloyds Banking Group, HSBC, Visa, Santander and ServiRed, and in December 2023 was appointed as the Head of the Digital Pound Division at the Bank of England. In parallel to her executive career, she has held several NED and advisory roles for both, the private industry and the public sector, and has been asked as a guest lecturer at the University of Cambridge, Said Business School. Out of all her work experience, the contribution she is most proud of is her work with the European Financial Coalition to counter child abuse online. She is an active advocate for ED&I and a proud ambassador for circular economy. Out of work she likes spending time with her family, and enjoys modern art, a good book and talking to people.

The Bank of England is the central bank of England.

Panel discussion : Introducing a rCBDC – the Challenges

Retail CBDC are aimed at individual consumers and businesses, offering a digital form of central bank money for everyday transactions.

The discussion explores various challenges such as user adoption, technological infrastructure, ensuring user privacy and security, managing financial stability risks, and addressing regulatory and legal considerations. Panelists also examine the implications for financial intermediaries, the potential impact on monetary policy transmission, and the need for collaboration between central banks, regulators, and the private sector. Overall, the panel underscores the importance of careful planning, stakeholder engagement, and robust risk management frameworks in successfully introducing a retail CBDC amidst a rapidly evolving digital financial landscape.

Lorenzo Cremona is the Director of Outbound Product Management at Oracle for High Availability Technologies, including Oracle Tuxedo, Oracle Blockchain Platform, and Oracle Transaction Manager for Microservices (MicroTx).  He has shared responsibility for product definition and adoption in the digital assets (central bank digital currencies) realm, working with central banks, government regulatory agencies and tier-1 System Integrators in helping define the appropriate strategy and applying Oracle technology where appropriate.  Lorenzo has almost 20 years of experience working with large banks insurance companies and ISVs (independent software vendors) throughout EMEA in optimization and modernization of mission-critical core banking systems.

Lorenzo comes to Oracle by way of the BEA acquisition.  At BEA Lorenzo was Director of Marketing for Tuxedo, overseeing the entire go-to-market strategy for BEA’s flagship product.  Prior to Oracle/BEA, Lorenzo managed sales and marketing activities at Fortune 100 enterprise accounts with Trend Micro, a leading security vendor.   At Trend Micro Lorenzo increased territory license revenue by 250%.  He also formed an advisory committee with the largest financial services companies to help facilitate best-business-practices in the adoption of security solutions to minimize enterprise computing downtime.  Prior to Trend Micro, Lorenzo was a product specialist with Oracle Corporation selling emerging solutions; including Oracle Collaboration Suite, Oracle Files and Enterprise Content Management within strategic accounts (Oracle top 240 accounts).

Lorenzo Cremona holds a Bachelor of Science in City and Regional Planning and a Master of Science in Architecture, both from the California Polytechnic State University (Cal Poly), San Luis Obispo, California (USA).  He lives in the Friuli Venezia Giulia region, Northeastern Italy.

We’re a cloud technology company that provides organizations around the world with computing infrastructure and software to help them innovate, unlock efficiencies and become more effective. We also created the world’s first – and only – autonomous database to help organize and secure our customers’ data.

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Oracle Cloud Infrastructure offers higher performance, security, and cost savings. It is designed so businesses can move workloads easily from on-premises systems to the cloud, and between cloud and on-premises and other clouds. Oracle Cloud applications provide business leaders with modern applications that help them innovate, attain sustainable growth, and become more resilient.

The work we do is not only transforming the world of business–it’s helping defend governments, and advance scientific and medical research. From nonprofits to companies of all sizes, millions of people use our tools to streamline supply chains, make HR more human, quickly pivot to a new financial plan, and connect data and people around the world.

At work, we embrace diversity, encourage personal and professional growth, and celebrate a global team of passionate people developing innovative technologies that help people and companies tackle real-world problems head-on.

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Johannes Duong graduated with Master in computer science at the Vienna University of Economics and Business (WU-Wien). He currently works in Treasury BACK-office department for Settlement and Collateral Management in the Austrian National Bank (OeNB). He is also responsible for the Blockchain research projects (DELPHI and CITADEL).

Oesterreichische Nationalbank (OeNB) is the central bank of Austria.

Research project DELPHI

 The Oesterreichische Nationalbank (OeNB) joined forces with the OeKB CSD GmbH, the Österreichische Bundesfinanzierungsagentur (OeBFA), Raiffeisen Bank International AG and Erste Group Bank AG to launch a joint research project dubbed DELPHI (Delivery vs. Payment Hybrid Initiative). In this research project, the involved parties aim to simulate both the issuance and settlement of Austrian government bonds as security tokens with a wholesale cbdc on a blockchain platform.

Varlam Ebanoidze brings an impressive 17-year track record of professional experience, specializing in risk management and digitalization within the banking sector. At NBG Varlam focuses on implementing a countrywide FinTech Open Finance strategy and regulatory framework. Varlam's passion lies in the strategic transformation of risk management to align with the evolving paradigm of 'Open Finance'.

The National Bank of Georgia (NBG) is the central bank of Georgia. The main objective of the National Bank is to ensure price stability. Georgia's first central bank was established in 1919. In its current form the National Bank of Georgia has existed since 1991.

CBDC as a Platform

The National Bank of Georgia (NBG) has found a balance between being “Solutions Obsessed Versus Problem Obsessed”. During the limited access live environment pilot stage, NBG will “Learn by Doing” and implement a “Bottom-Up” approach while going through the most relevant use cases for the local landscape. NBG’s stakeholder-centric CBDC platform will complement existing payment channels and provide a safe foundation for private sector innovations in order to meet society’s current and future needs.  Moreover, NBG will be on track to support wider trends and new promising innovations by facilitating a new digital form of money to adopt features and instruments aimed to expand functionality and bring increased value for retail users and the private sector.

Chaima El Aouam, currently serving as the Sales Manager CBDC at Giesecke + Devrient in Munich, Germany. She leads initiatives to engage central banks in Africa, Balkan and Central Asia, showcasing the potential of Central Bank Digital Currencies for financial inclusion and resilience. Chaima also promotes dual offline digital transactions with existing fast payment systems to extend financial services to remote communities.

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich, Germany. G+D makes the lives of billions of people more secure. The company shapes trust in the digital age, with built-in security technology in three segments: Digital Security, Financial Platforms and Currency Technology.

CBDC Academy : No connection? No worries! How to enable secure offline payments

As we move towards an increasingly digitized world, the role of digital payments continues to surge in importance, transforming financial transactions at an unprecedented pace. However, to truly enhance the effectiveness and convenience of digital payment methods, offline capabilities are essential. A payment solution with offline capabilities can foster digital financial inclusion, increase the resilience of online payment systems, and enhance privacy, universal usage, accessibility, and trust.

Daniel joined the Deutsche Bundesbank in May 2021, worked for nearly 3 years in payments deparment before joining the newly found directorate "digital euro" in February 2024

Deutsche Bundesbank is the central bank of Germany

CBDC and digital euro: A German perspective

With the digital euro project, the Eurosystem aims to make public money fit for the digital age.  In this session, we will talk about the progress of the work, current challenges and the German perspective on the digital euro.

Tamara, executive director at the Digital Euro Association, specializes in Financial Engineering, Capital Markets and Derivatives with +15 years of experience. Consultant and creator of personalized content about investments, startups, innovation, digital currencies and blockchain, Tamara has already lectured at TEDx KanzlerPark, Crypto Assets Conference, Digital Euro Conference, among others.

The Digital Euro Association is a think tank specializing in central bank digital currencies (CBDCs), stablecoins, crypto assets, and other forms of digital money. In particular, we focus on the private and the public digital euro.

Panel discussion : User-centric design of a CBDC

This panel will delve into the crucial topic of user-centric design for CBDCs. Hear from experts who are leading the charge in designing CBDCs with a strong focus on user needs, accessibility, and usability. Explore innovative approaches to ensure inclusivity, privacy, and ease of use for diverse user groups. Gain insights into the importance of user research, interface design, and user education in creating a seamless CBDC experience.

Harald has started to work for the Austrian National Bank (OeNB) in 1998. In the Back-office division he is responsible for settlement and cash management. Furthermore he is also responsible for process management.

Oesterreichische Nationalbank (OeNB) is the central bank of Austria.

Research project DELPHI

 The Oesterreichische Nationalbank (OeNB) joined forces with the OeKB CSD GmbH, the Österreichische Bundesfinanzierungsagentur (OeBFA), Raiffeisen Bank International AG and Erste Group Bank AG to launch a joint research project dubbed DELPHI (Delivery vs. Payment Hybrid Initiative). In this research project, the involved parties aim to simulate both the issuance and settlement of Austrian government bonds as security tokens with a wholesale cbdc on a blockchain platform.

Waldemar is an expert in financial regulatory audits, information security and data protection. He supports clients in complying with information security and data protection requirements. With a doctorate in electrical engineering and a degree in economics, he worked as an expert for security for an association of the banking industry.

Grey Swan's approach is centred on strategic resilience in the context of the evolving envi-ronment. We provide expert advice in today's complex business environment with a diverse and carefully crafted portfolio of services. Our consulting services focus on overcoming challenges in the areas of risk, compliance and technology deployment.

CBDC Academy : New European Security Regulation DORA (Digital Operational Resilience Act)

DORA is the first sector-specific regulation of ICT security and resilience in Europe. It regulates 20 types of financial entities and their ICT third-party service providers. For the first time, IT service providers are now under financial supervision. For non-European national banks, DORA is an interesting object of study for two reasons: firstly, DORA could experience the same spread as the GDPR in data protection and serve as a model for many countries. Secondly, national banks, in their roles as regulators and supervisors, have to deal with increasing the security of all financial market players worldwide.

Aleksi Grym is Head of the Fintech division at the Bank of Finland. His team is responsible for policy work, analysis and projects covering financial technology, new payment systems and digital currencies. He is a member of the ECB's digital euro project steering group.

Bank of Finland is the central bank of Finland, part of the Eurosystem.

Panel discussion : Introducing a rCBDC – the Challenges

Retail CBDC are aimed at individual consumers and businesses, offering a digital form of central bank money for everyday transactions.

The discussion explores various challenges such as user adoption, technological infrastructure, ensuring user privacy and security, managing financial stability risks, and addressing regulatory and legal considerations. Panelists also examine the implications for financial intermediaries, the potential impact on monetary policy transmission, and the need for collaboration between central banks, regulators, and the private sector. Overall, the panel underscores the importance of careful planning, stakeholder engagement, and robust risk management frameworks in successfully introducing a retail CBDC amidst a rapidly evolving digital financial landscape.

Scott Hendry was appointed Senior Director of Financial Technology for the Bank in 2016. He oversees the Bank’s efforts to monitor and research developments and implications of new technologies affecting the economy. This includes serving as the business lead on the Bank’s CBDC and blockchain research programs.

Bank of Canada is the central bank of Canada.

Panel discussion : CBDC vs Tokenized Assets vs Stablecoins

This panel explores the evolving landscape of digital currencies and their implications for the future of finance.

CBDCs are state-backed digital representations of fiat currencies. Tokenized assets are digital representations of real-world assets like real estate or stocks, providing fractional ownership and increased liquidity. Stablecoins are cryptocurrencies pegged to stable assets like fiat currencies or commodities, were highlighted for their potential to mitigate volatility in the crypto market and facilitate cross-border transactions.

The panelists debated the advantages and challenges of each approach, including regulatory concerns, technological feasibility, and potential impact on monetary policy. Overall, the discussion underscores the need for careful consideration of the diverse implications of CBDCs, tokenized assets, and stablecoins in shaping the future of global finance.

John Ho is the Global Head of Legal, Financial Markets for Standard Chartered Bank (“SCB”), overseeing and providing legal advisory, transactional and documentation support for Financial Markets (FM) business globally for Standard Chartered Bank (SCB), its branches and affiliates. Mr. Ho is also the co-chair of (1) the ISDA South East Asia Legal and Regulatory Committee and (2) the ISDA Asia Pacific ESG Working group.He is an active participant in the industry’s Fintech events and is a public speaker on topics such as Central Bank Digital Currencies, Blockchain, Digital Assets, Financial Markets, Sustainability and Regulatory Reforms. He serves as a mentor to startups and co-authored a publication from the World Economic Forum called The Digital Currency Governance Consortium Whitepaper, published in November 2021. He is a also mentor for the UK FCA Sustainability TechSprint, FCA Digital Sandbox,  R3 and LongHash.Prior to joining SCB, Mr. Ho was the Managing Director Principal in the legal department of Bear Stearns (Japan), Ltd (“Bear Stearns”) where he supported the Asia franchise (including Tokyo, Hong Kong, China, Taiwan, Korea, India and South-east Asia) from January 2003 to August 2008 covering various structured products and derivatives including equity derivatives, credit derivatives, fixed income and commodities. Prior to joining Bear Stearns, Mr. Ho worked as Asia equity counsel for Lehman Brothers in Tokyo with experience dealing in convertibles, options, warrants, delta one products and other types of equity derivatives transactions, equity finance and equity capital markets. He is qualified as an advocate and solicitor in Singapore since 1995 and he received his law degree from the National University of Singapore.

With 85,000 employees and a presence in 59 markets, Standard Chartered Bank's network serves customers in close to 150 markets worldwide. Standard Chartere Bank is listed on the London and Hong Kong Stock Exchanges

Governor’s Panel about CBDC

In this exclusive panel, central bank Deputy Governors share their views on CBDCs. Gain unique perspectives on CBDC design, policy considerations, and the role of CBDC in shaping the future financial system. Learn about the challenges, opportunities, and potential implications of CBDCs in the financial sector. Hear from these high-level decision-makers their strategic vision and practical insights that drive the CBDC agenda.

 

Nadine is an expert director in information security and data protection management systems in accordance with ISO standards. This includes the implementation of measures for financial institutions, the definition of requirements and processes, the preparation of audits and the migration of audit results. She completed her studies in aerospace engineering.

Grey Swan's approach is centred on strategic resilience in the context of the evolving envi-ronment. We provide expert advice in today's complex business environment with a diverse and carefully crafted portfolio of services. Our consulting services focus on overcoming challenges in the areas of risk, compliance and technology deployment.

CBDC Academy : New European Security Regulation DORA (Digital Operational Resilience Act)

DORA is the first sector-specific regulation of ICT security and resilience in Europe. It regulates 20 types of financial entities and their ICT third-party service providers. For the first time, IT service providers are now under financial supervision. For non-European national banks, DORA is an interesting object of study for two reasons: firstly, DORA could experience the same spread as the GDPR in data protection and serve as a model for many countries. Secondly, national banks, in their roles as regulators and supervisors, have to deal with increasing the security of all financial market players worldwide.

Dr. Ritesh Jain, a top 10 Global Fintech Leader, founder, tech enthusiast, and seasoned board advisor, has over two decades of experience in global Digital Technology, Business Transformation, and Operations. As a regular speaker at global conferences on Fintechs, Emerging Tech, Banks, and Payments, he has made a lasting impact on the industry. Formerly the COO and Global Head of Digital Tech at HSBC, he led the future of Payments at VISA and introduced Apple Pay. At Maersk, he spearheaded technology and innovation, establishing Digital Centers of Excellence and robust high-availability platforms. His contributions earned him a PhD in Payments Innovation, Open Banking, and Financial Inclusion. Dr. Jain is a founding member of the World Metaverse Council, Blockchain Associations, IBM/Informa’s AI Community, and a visiting faculty member at leading business schools. He also serves as a member advisor of the G20 GPFI and offers guidance to major payment programs and banks worldwide while advising banks and central banks on emerging tech and the future of banking and payments.

Infynit

CBDCs and Financial Inclusion: Bridging the Gap in the Digital Economy

This presentation will highlight the transformative potential of CBDCs in enhancing financial inclusion. By offering accessible and affordable financial services, CBDCs can help unbanked and underbanked populations join the economic system. The speaker will emphasise the importance of digital identity, seamless integration with existing payment systems, and streamlined distribution of government aid through CBDCs. Public-private partnerships and digital literacy programs were identified as critical to successful implementation. Addressing security and privacy concerns was also deemed crucial to building public trust and ensuring widespread adoption, ultimately fostering a more equitable digital economy.

Claudine has over 25 years of experience working for the Banque de France. Before joining the Directorate General for Financial Stability and Operations, she worked in banking supervision. Her current field of competences covers financial market infrastructures, resilience, crypto-assets and wholesale CBDC, including experiments.

Banque de France is the central bank of France.

Panel discussion : Interoperability & cross border payments

In this panel discussion, experts will discuss the crucial topic of interoperability. They will explore how CBDCs could as seamlessly as possible integrate with existing financial systems and collaborate with external systems beyond central banks. Key points will include the need for technical standards, regulatory alignment, and private sector engagement to enable cross-border transactions and drive innovation. The panel aims to highlight the importance of interoperability in realizing the full potential of CBDCs for enhancing domestic & global payment networks.

Matthias Jüttner heads the Banking Operations Analysis team of the Swiss National Bank. Among others, he is involved in the strategic development of the Swiss payment system, access policy and data science projects in the payments area. He is also responsible for the work on the integration of central bank money in a DLT infrastructure. Matthias Jüttner joined the SNB in 2012 and headed the Money Market Analysis team from 2014 to 2020. He holds a Master's degree in Mathematics and a PhD in Finance.

The Swiss National Bank is the central bank of Switzerland

Settlement options to integrate central bank money into tokenized markets

As for token settlement, SNB is examining how central bank money could be made available in a regulated token ecosystem, should the need for it arise. The presentation will focus on different settlement options. The first model involves synchronised settlement. A link to the RTGS system synchronises the settlement of tokenised securities with the settlement of payments. The second model involves integrated settlement, using a Swiss franc wholesale CBDC.

Dr. Kombe Kaponda is the current chairperson for the Central Bank of Zambia (BoZ) FinTech working group, leading research on the effects of financial technologies and the feasibility of CBDC in developing economies. He is a certified Digital Finance Practitioner (CDFP), and a very active contributor to the global fintech and digital innovations agenda, participating in the IMF-World Bank Technology Community of Practice (CoP), a CBDC technology CoP in the Digital Advisory Unit focusing on R&D and research about CBDC technology for mutual global learning. He is also a founding trustee of the Association for Digital Finance Practitioners (ADFP) in Zambia and the Global Alliance of Digital Finance Associations. He is currently participating in the ITU (International Telecommunication Union) Architecture Interoperability committee, Taxonomy & CBDC, Digital Currency Ecosystem Global Initiative working group. Kombe is a published author on financial technologies developments in SSA and has facilitated fintech and cyber security training workshops and seminars.

Bank of Zambia is the central bank of Zambia.

Panel discussion : Interoperability & cross border payments

Hatice Karahan received her B.A. and M.A. degrees from Boğaziçi University in Management and Economics, respectively. She earned her Ph.D. degree in Economics at Syracuse University, where she also conducted research for the Center for Policy Research. After returning to Türkiye, she served as an advisor at the Scientific and Technological Research Council of Türkiye (TÜBİTAK) and worked as an economic consultant at leading business organizations including the Turkish Exporters’ Assembly (TİM), the Foreign Economic Relations Board of Türkiye (DEİK), and the Istanbul Chamber of Industry (İSO). She joined Istanbul Medipol University in 2015 as the founding head of the Department of Economics and Finance. In 2017, Dr. Karahan was appointed as Senior Economic Advisor to the President of Türkiye. Between 2021 and 2023, she was a visiting scholar of economics at Harvard University and Columbia University, respectively.

 

Dr. Karahan was appointed as Deputy Governor of the Central Bank of the Republic of Türkiye in July 2023. Her portfolio includes payment systems and financial technologies, data governance and statistics, structural economic research, and investor relations and international organizations. She is also a member of the Monetary Policy Committee.

 

Central Bank of the Republic of Türkiye

 

Opening Remarks
 

John Kiff was a Senior Financial Sector Expert at the IMF from 2005 to 2021, focusing on financial stability and fintech issues, and OTC derivatives. Before that, he was at the Bank of Canada for 25 years where he managed the funding and investment of the government’s foreign exchange reserves.

Kiffmeister Consulting provides advice to central banks and international financial institutions on digital currencies. It also publishes a daily update on fintech and digital payments developments, and a monthly report on central bank digital currency (CBDC) exclusively for official institutions.

CBDC Academy : CBDC: The 360 Degree Global Overview

This presentation will provide a global view of retail CBDC developments. It will start by defining what a retail CBDC is and is not, reviewing which central banks are doing what, why and how. The presentation will cover key design features, and how central banks are trying to navigate often conflicting goals, such as meeting user needs for payments privacy versus complying with financial integrity regulations, and designing retail CBDCs that are attractive to potential users while mitigating bank disintermediation risk. It will conclude with a review of open questions that continue to flummox retail CBDC designers.

Conrad Kraft is an Executive Director at the Digital Euro Association. He holds a Masters Degree in Digital Currencies and Blockchain from the University of Nicosia and has undertaken research in the areas of DLT, CBDCs and the use of exponential technologies in the public sector.

The Digital Euro Association (DEA) is a think tank specializing in central bank digital currencies (CBDCs), stablecoins, crypto assets, and other forms of digital money. In particular, we focus on the private and the public digital euro.

CBDC Academy : From concept to reality: Exploring the path to CBDC adoption

Discover the path to CBDC adoption through an examination of worldwide implementations, highlighting key learnings in citizen attitude formation, stakeholder collaboration, education, design aspects and more. Join us in navigating the challenges and opportunities of realizing the CBDC vision.

Xavier Lavayssière assists central banks, international organizations, and companies in understanding digital finance technology and developing appropriate regulations. Since 2016, Mr. Lavayssière has published recognized works on Central Bank Digital Currencies, tokenization of financial instruments, and regulation of stablecoins.

Université Paris 1 Panthéon-Sorbonne is the first and largest French university in the humanities and social sciences with over 45,000 students

Breakout session : Programmability and tokenization

Programmability and tokenization are anticipated to enhance innovation, efficiency, and resilience in the global financial system. However, misconceptions are leading to early failures and missed opportunities.This presentation will outline fundamental concepts and distinguish various forms of programmability and tokenization. It will also establish the necessary conditions for the successful development of tokenization ecosystems.

 

Panel discussion : CBDC vs Tokenized Assets vs Stablecoins

This panel explores the evolving landscape of digital currencies and their implications for the future of finance.

CBDCs are state-backed digital representations of fiat currencies. Tokenized assets are digital representations of real-world assets like real estate or stocks, providing fractional ownership and increased liquidity. Stablecoins are cryptocurrencies pegged to stable assets like fiat currencies or commodities, were highlighted for their potential to mitigate volatility in the crypto market and facilitate cross-border transactions.

The panelists debated the advantages and challenges of each approach, including regulatory concerns, technological feasibility, and potential impact on monetary policy. Overall, the discussion underscores the need for careful consideration of the diverse implications of CBDCs, tokenized assets, and stablecoins in shaping the future of global finance.

Douglas is responsible for engaging with legislative and non-legislative policy development on payments and digital finance issues on behalf of Europe's savings banks. The digital euro and the international development of CBDCs is a key focus of his work. This has included working with policymakers in Brussels on the developing regulation and contributing to the ECB work as a technical expert to Euro Retail Payments Board and developing the digital euro rulebook (through representation to the rulebook development group).

ESBG represents the locally focused European banking sector, helping savings and retail banks in 18 European countries strengthen their unique approach that focuses on providing service to local communities and boosting SMEs. The 885 member banks have total assets of €5.7 trillion, and serve 162 million Europeans seeking retail banking services.

Panel discussion : Offline payments with CBDC

The implementation of offline payments in retail CBDCs presents both significant challenges and essential benefits.

Challenges include ensuring robust security and privacy in transactions without online verification, which is critical to prevent fraud and unauthorized access. Developing reliable, secure hardware or software solutions that can function without an internet connection is technologically demanding. Additionally, creating a universally accepted offline payment system requires infrastructure upgrades and compatibility across diverse devices and platforms. There's also the issue of maintaining transaction limits and monitoring for compliance with financial regulations, all while offline.

Despite these challenges, the importance of offline payment capabilities in CBDCs cannot be overstated. They enhance financial inclusion by providing access to digital payments in areas with limited internet connectivity, thus reaching underserved populations. Offline functionality also ensures transaction continuity during network outages or in emergencies, supporting resilience in payment systems. Moreover, it offers a level of convenience and privacy for users, promoting broader adoption of CBDCs. Ultimately, developing robust offline payment solutions is vital for a resilient, inclusive, and widely usable CBDC ecosystem.

Prasanna is an award winning CXO banker, digital architect, industry innovator, board member, fintech influencer, startup mentor, leadership coach, bank advisor. Currently, he is practicing blockchain & deeptech research, digital transformation, innovation implementation & architecture orchestration as CEO at block stack, India, for building next-gen banking platforms for Web 3 World and CIO at Diamante Blockchain Inc, USA. As founder, president at India Blockchain Forum with a vision to make India a global hub for Blockchain and Web 3.0. He has participated at national, state, and international level Forums for Blockchain Adoption. He has worked on many national use cases as advisor at Orissa, Rajasthan, TS Govt, GMR Innovex, mentor at Kerala Blockchain Academy, speaker at many national and international forums.

Diamante Blockchain Inc is a global, decentralized finance platform successfully ​​implementing and developing a competitive blockchain-enabled ecosystem for cbdc , trade, payments, and financing. India Blockchain Forum (IBF) is a company of thought leaders and key influencers in Indian Blockchain Industry. It draws leaders from policymakers, Industry association, Corporate leaders, Startup founders and ecosystem enablers. IBF has a singular mission of making India a blockchain powerhouse by building an enabling environment for collaboration between multiple stake holders in the Web3.0 ecosystem.

CBDC Academy : Future Finance with CBDC

Ms. Inutu Lukonga is a senior economist in the Payments, Currencies, and Infrastructure (PI) division of the Monetary and Capital Markets (MCM) department at the International Monetary Fund (IMF). She has 42 years operational experience as a Central Banker, Macro-economist, and Financial Sector Expert. She joined the IMF in 1993 after her tenure as Deputy Director of Research at the Central Bank of Zambia where she began her career as a graduate economics in 1981. At the IMF, she has worked as a Macro-Economist and as a Financial Sector Expert, including leading FSAP and TA missions including in Payment Systems, Monetary and Foreign Exchange Operations, Bank Resolution, Deposit Insurance, Crisis Management and Banking Supervision. She worked at the UK/FSA as a regulator for Banks, Securities Firms, and Pension Funds. Her research studies cover a broad range of areas, including Debt Restructuring, International Trade Policy, Financial Stability, Banking Supervision, Islamic Finance, Fintech, and Central Bank Digital Currencies (CBDCs). During her tenure at the Fund, Ms. Lukonga has undertaken mission assignments to more than 30 countries in Europe, Asia Pacific, Africa, Caribbean Countries and Middle East and Central Asia.

Ms. Lukonga holds a BA Degree in Economics from the University of Zambia, a Master of Arts degree in International Economics from University of Sussex in the UK and was a PHD candidate in Development Economics also at the University of Sussex.

The International Monetary Fund (IMF) is a global financial institution, whose mandate is to promote global monetary cooperation, financial stability, international trade, high employment and sustainable economic growth, as well as reduce poverty around the world.

Operationalizing Retail CBDCs: Potential Risks, Implementation Challenges and Remedial Strategies

This presentation will discuss the role of the retail CBDC in the monetary system, distinguish objectives from benefits, address misconceptions about retail CBDCs, highlight risks and implementation challenges and outline options to address the risks and challenges.

 

Panel discussion : Introducing a rCBDC – the Challenges

Retail CBDC are aimed at individual consumers and businesses, offering a digital form of central bank money for everyday transactions.

The discussion explores various challenges such as user adoption, technological infrastructure, ensuring user privacy and security, managing financial stability risks, and addressing regulatory and legal considerations. Panelists also examine the implications for financial intermediaries, the potential impact on monetary policy transmission, and the need for collaboration between central banks, regulators, and the private sector. Overall, the panel underscores the importance of careful planning, stakeholder engagement, and robust risk management frameworks in successfully introducing a retail CBDC amidst a rapidly evolving digital financial landscape.

Hugues Marie is the product manager for CBDC and Digital Currencies at IDEMIA. Passionate about blockchain and DeFi, he started his career as a blockchain product manager in a start-up in Mexico City, where he participated in the development of several blockchain-based SAS platforms in the financial sector, leading a team of 10 engineers.

As a leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. IDEMIA offers its public and private customers payment, connectivity, access control, travel, identity and public security solutions. Every day, around the world, IDEMIA secures billions of interactions in the physical and digital worlds. With nearly 15,000 employees, IDEMIA is trusted by over 600 governmental organisations and more than 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach.

The presentation title will be announced soon

 

José Manuel is the Director of the Financial Innovation and Market Infrastructures Department. He joined the Bank of Spain in 1996 and is chair of the Working Group of Green Finance in the BIS Innovation Network and represents the Bank of Spain in the HLTF on the Digital Euro as alternate and in the CEMLA Foro Fintech.

Bank of Spain is the central bank of Spain.

The digital euro and Banco de España’s experimentation on wholesale CBDC

The presentation will provide an overview of the digital euro project, covering aspects such as the motivations behind its potential issuance, its main design features and the latest developments, as well as future steps. The work on wholesale CBDCs will also be addressed, presenting the experiments that the Banco de España and the Eurosystem are carrying out with the aim of assessing their potential to enhance the functioning of financial market infrastructures.

Panel discussion: Design & Policy decisions

This panel will delve into the critical design choices and policy frameworks necessary for the successful implementation of CBDCs. Topics will include technological infrastructure, regulatory considerations, financial stability, and cross-border interoperability. The discussion aims to provide a comprehensive understanding of how to navigate the complex landscape of CBDC development to enhance the efficiency, security, and inclusivity of the global financial system.

Nick has been the Head of the Future of Money Division at the Bank of England since March 2023 and is responsible for the Bank’s work on Wholesale Cash Distribution, analysis of trends in cash use, and communication with businesses and other groups regarding bank note use. He also oversees the economics and strategy aspects of the Bank's investigative work on the design of a Central Bank Digital Currency. Previously, Nick was the Deputy to the Governor’s Private Secretary and Economic Assistant to the Governor. He has also worked in the Bank’s Financial Markets and Monetary Analysis Directorates.

The Bank of England is the central bank of England.

Panel discussion: Design & Policy decision

 

Daniel is an experienced business professional and an economist. He provides consultancy to central banks, financial service providers and public authorities on design aspects, use cases and overall strategy pertaining to regulated digital currencies. Daniel is part of the thought leadership team and (co)authored various papers and concepts. He drives the cross-border digital currency initiatives within the team. His main research area is the effects of digital currencies on the global macroeconomy and geopolitics. Previously, he was a director at an investment management company. He has received education in finance and banking.

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich, Germany. G+D makes the lives of billions of people more secure. The company shapes trust in the digital age, with built-in security technology in three segments: Digital Security, Financial Platforms and Currency Technology.

Panel discussion : CBDC vs Tokenized Assets vs Stablecoins

This panel explores the evolving landscape of digital currencies and their implications for the future of finance.

CBDCs are state-backed digital representations of fiat currencies. Tokenized assets are digital representations of real-world assets like real estate or stocks, providing fractional ownership and increased liquidity. Stablecoins are cryptocurrencies pegged to stable assets like fiat currencies or commodities, were highlighted for their potential to mitigate volatility in the crypto market and facilitate cross-border transactions.

The panelists debated the advantages and challenges of each approach, including regulatory concerns, technological feasibility, and potential impact on monetary policy. Overall, the discussion underscores the need for careful consideration of the diverse implications of CBDCs, tokenized assets, and stablecoins in shaping the future of global finance.

Simit Naik has over 14 years of commercial experience across financial services and the public sector, holding senior positions in consultancy, strategy, and product at organisations such as Visa, Experian, and Logica. Naik joined nChain in 2016, where he has helped to develop the Business Services, Product, and Commercial & Strategy teams.   In his current role, Simit is responsible for group strategy, identifying and shaping key strategic initiatives across nChain, our wider ecosystem and with our key partners. Simit holds a Bachelor of Science (Hons) in Computer Science from Coventry University.

nChain is a leading provider of global blockchain technology, IP licensing and consulting services. Combining a world-leading Web3 IP portfolio together with the knowledge, expertise, tools, and products, we enable a seamless transition from Web2 to Web3.   nChain builds and maintains the most inclusive, secure and scalable Web3 infrastructure that delivers efficient value exchange to foster an ecosystem that is truly pioneering and provides an accessible foundation for everyone to benefit from Web3 opportunities.  nChain currently has almost 2,800 registered active and pending patents and is the developer behind the Bitcoin SV Node software, Terranode, Kensei and more.

Transforming cross-border payments with innovative digital currency solutions

Cross-border payments face several key challenges including high degree of frictions such as cost, compliance, security, delays, and interoperability with domestic payment systems. In this session we will discuss these topics in more depth and demonstrate how nChain’s innovative Digital Currency solution addresses cross-border transactions in a more efficient and effective manner.

 

Breakout session: A deep-dive into cross-border payments using nChain’s Digital Currency solution

Following on from the plenary discussion, please join us to dive deeper into the role technology plays in our approach to supporting more efficient cross-border payments

Board Member of the Central Bank of Chile since March 2018. Before his appointment to the Board and since September 2014, he was Director of the Research Division of this Institution.He is a Commercial Engineer from the Pontifical Catholic University of Chile, where he received the Raúl Iver award as the best graduate among his 2000 classmates, and holds a Master's Degree and PhD in Economics from the University of California at Los Angeles, USA.

 The Central Bank of Chile is an autonomous technical body whose task is to ensure the stability of the currency, and the level of inflation. It also promotes the stability and efficiency of the financial system, guaranteeing the normal functioning of internal and external payments.

The current status of CBDC in Latin America

This speech will offer an overview of the activities in the CBDC sphere in Latin America.

 

Bernard Nicolay is passionate about finance and education, and committed to lecturing, advising, and investing for sustainable value. He serves as an Adjunct Finance Professor at Solvay Brussels School of Economics and Management (ULB), and as a Guest Lecturer at Université Paris Dauphine-PSL and at Conservatoire national des arts et métiers (Cnam). His main topics of interest include sustainable finance, innovation in finance and emerging use cases relating to blockchain, web3 and decentralised finance. Bernard is also Senior Advisor open for interim management, advisory, and independent director assignments, capitalising on 25+ years' experience as senior banking and insurance executive with BNP Paribas, Axa, Credit Suisse and Arthur D. Little. He is a seed investor and advisor to scaleups and start-ups, including several fintech companies, focusing on advising and mentoring impact and tech executive teams on strategy, finance and partnerships. Bernard is affiliated with Be Angels, a business angel network based in Brussels, as well as a Board Member and active supporter of several charities, such as Rise for Kids Belgium and Demoucelle Parkinson Charity.

The Solvay Brussels School of Economics and Management (SBS-EM) was created in 1903 by Ernest Solvay, a well-known humanist and captain of industry. Today, the School is proud to be part of the Université Libre de Bruxelles (ULB), which now has among its faculties a high-quality faculty dedicated to Economics and Management. As always, SBS-EM honours the main goals set by its founders, namely: training leaders who aspire to the ‘Homo Universalis’ ideal, highlighting through its programmes the necessity of having a multi disciplinary perspective, and focusing on a quantitative and scientific approaches.The School also shares common values with ULB, especially the principle of free inquiry, an approach based on critical thinking, and a focus on research.The Solvay Brussels School of Economics and Management is well-known for its strict and demanding education system, focusing on excellence at every level. This vision and mindset, and its highly international alumni network, enable the School to train the leaders of tomorrow’s society.

Panel discussion : Interoperability & cross border payments

Launching a CBDC (pilot) involves various risks, but also opens up opportunities.

IIn this panel discussion, experts will discuss the crucial topic of interoperability. They will explore how CBDCs could as seamlessly as possible integrate with existing financial systems and collaborate with external systems beyond central banks. Key points will include the need for technical standards, regulatory alignment, and private sector engagement to enable cross-border transactions and drive innovation. The panel aims to highlight the importance of interoperability in realizing the full potential of CBDCs for enhancing domestic & global payment networks.

At Eesti Pank since 2011, of which 4 years at the European Central Bank. Past working life in retail banking. Today, his teams are responsible for the operator, oversight and catalyst functions in Estonia as well as the coordinator role ensuring continuity of vital payment services at national level in crisis scenarios. Keywords: instant payments, open banking, request to pay / e-invoice payments, non-bank access to payment systems, digital euro, wCBDC, offline payments, resilience and backups, retail payments strategy.

Eesti Pank is the National Central Bank of Estonia.

Panel discussion: Design & Policy decision

This panel will delve into the critical design choices and policy frameworks necessary for the successful implementation of CBDCs. Topics will include technological infrastructure, regulatory considerations, financial stability, and cross-border interoperability. The discussion aims to provide a comprehensive understanding of how to navigate the complex landscape of CBDC development to enhance the efficiency, security, and inclusivity of the global financial system.

 

Kwame Oppong is the Head of Fintech and Innovation at Bank of Ghana.
His background spans Technology, Digital Financial Services (DFS) operations, policy development, and regulation. He has consulted for several governments, public sector institutions, international development organizations and private corporations globally.
Prior to joining the Bank, Kwame worked with CGAP (World Bank Group), Millicom, Hewlett Packard Company (now HP EB) and other organizations in the banking, housing finance and health insurance industries.
Kwame is a passionate advocate for financial inclusion, innovation, and the development of digital economies.

Bank of Ghana is the central bank of Ghana.

The presentation title will be announced soon

Kürşad Öz is a Deputy Executive Director at the Payment Systems and Financial Technologies department of the CBRT. He joined the bank in 2010 and has worked in the fields of information technology and financial innovation. He is now responsible for overseeing the architecture, design and implementation of the national CBDC. He has a BSc in computer engineering and an MSc in information systems.

Central Bank of the Republic of Türkiye (CBRT)

Lessons Learned, Challenges and Perspectives: The Digital Turkish Lira Project

This presentation will provide an overview of the Digital Turkish Lira Project, covering the main design principles, features, and key findings of Phase-1, as well as updates for the next phases.

Pinar Ozcan is Professor of Entrepreneurship and Innovation at Saïd Business School, Oxford University. She is also the academic director of the Oxford Future of Finance and Technology (Fintech) Initiative at Oxford. Pinar specializes in strategy, entrepreneurship, and technology markets. Her current research includes fintech and CBDC ecosystems, open banking, digital disruption, and the rise of big tech platforms.

Oxford University provides world-class research and education to benefit society on a local, regional, national and global scale.

 

 

Ecosystem Formation for CBDCs

This presentation will summarize the research findings at Oxford University regarding the pathways for CBDC ecosystem formation in different countries

Panel discussion : Introducing a rCBDC – the Challenges

Retail CBDC are aimed at individual consumers and businesses, offering a digital form of central bank money for everyday transactions.

The discussion explores various challenges such as user adoption, technological infrastructure, ensuring user privacy and security, managing financial stability risks, and addressing regulatory and legal considerations. Panelists also examine the implications for financial intermediaries, the potential impact on monetary policy transmission, and the need for collaboration between central banks, regulators, and the private sector. Overall, the panel underscores the importance of careful planning, stakeholder engagement, and robust risk management frameworks in successfully introducing a retail CBDC amidst a rapidly evolving digital financial landscape.

 

Before joining the Bank of Slovenia Marko Pahor was for over two decades a professor of statistics and economics at the University of Ljubljana. Besides the role in the central bank, he is a member of the high-level task force on digital Euro at the ECB. 

The Bank of Slovenia is the central bank of the Republic of Slovenia. Since 1 May 2004, when Slovenia joined the European Union, the Bank of Slovenia has been a member of the European System of Central Banks (ESCB).

Governor’s Panel about CBDC

In this exclusive panel, central bank Deputy Governors share their views on CBDCs. Gain unique perspectives on CBDC design, policy considerations, and the role of CBDC in shaping the future financial system. Learn about the challenges, opportunities, and potential implications of CBDCs in the financial sector. Hear from these high-level decision-makers their strategic vision and practical insights that drive the CBDC agenda.

Dillemas of CDBC design - Experience from the Digital Euro

Designing a central bank digital currency is unavoidably linked to dilemmas, hard decisions and compromises. A magic triangle exists between privacy, security and user experience, a triangle in which you can not change one without affecting the other two. How much should you (de)centralize, both in terms of component development as well as later while running the system. What is the actual nature of your CBDC – is it digital cash or a special (central bank) account. We will discuss these and other dilemmas based on the experience from digital euro. 

Thibault is Head of Digital Currency at Worldline Financial Services. He is deeply passionate about driving innovation and is committed to shaping the future of finance through his work with Stablecoin, blockchain technology, and CBDCs. He led numerous CBDC projects, such as the offline protype with the ECB.

Worldline [Euronext: WLN] is a global leader in advanced payment technology. We design and operate leading digital payment and transactional solutions that enable sustainable economic growth and reinforce trust and security in our societies. We also collaborate with Central Banks globally on CBDC prototypes, exploring new retail, wholesale, and tokenization technologies.

Lessons from the Digital Euro offline Prototype

Panel discussion : Introducing a rCBDC – the Challenges

Retail CBDC are aimed at individual consumers and businesses, offering a digital form of central bank money for everyday transactions.

The discussion explores various challenges such as user adoption, technological infrastructure, ensuring user privacy and security, managing financial stability risks, and addressing regulatory and legal considerations. Panelists also examine the implications for financial intermediaries, the potential impact on monetary policy transmission, and the need for collaboration between central banks, regulators, and the private sector. Overall, the panel underscores the importance of careful planning, stakeholder engagement, and robust risk management frameworks in successfully introducing a retail CBDC amidst a rapidly evolving digital financial landscape.

With six years at nChain, a global blockchain IP and development company, Sebastian Ploetzeneder has worked closely with industry leaders to advise on the economic potential of blockchain technology. An economist by trade, he has given guest lectures at universities across the UK and spoken at YPO events and the House of Lords, with a focus on market insights and emerging tech developments.

nChain is a global blockchain IP and development company, providing products, solutions, and IP licensing services.

CBDC Academy : Innovation in Financial Infrastructure and the Sovereign State

In the age of invention, ideas and innovation are crucial for today's wealth of nations—despite the challenges they bring with them. Join us to learn how efficient payment systems can reduce economic friction and accelerate global trade. As economies seek to gain a strategic advantage and citizens worry about their privacy and comfort, what's next?

Shaqueno oversees operations of the Financial Market Infrastructure Unit to support the stability safety, functionality, and efficiency of systemically important financial market systems in The Bahamas. This includes the oversight and management of the Real Time Gross Settlement System, the Central Securities Depository, SWIFT, and the Central Bank Digital Currency Platform, Sand Dollar.

 

Sand Dollar update and next steps

The presentation will cover technical enhancements to the Sand Dollar wallet, such as user self-activation and new integration with legacy payment systems. Additionally, I will provide updates on national adotpion and the challenges we face along the way.

With a background in consulting, innovation and financial technology, Teresa Riedl joined G+D to shape the future of money. As Director Product Management she is passionate about creating technology that people can trust, that fosters financial inclusion and that empowers the digital economy.

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich, Germany. G+D makes the lives of billions of people more secure. The company shapes trust in the digital age, with built-in security technology in three segments: Digital Security, Financial Platforms and Currency Technology.

 

CBDC Academy: No connection? No worries! How to enable secure offline payments

 As we move towards an increasingly digitized world, the role of digital payments continues to surge in importance, transforming financial transactions at an unprecedented pace. However, to truly enhance the effectiveness and convenience of digital payment methods, offline capabilities are essential. A payment solution with offline capabilities can foster digital financial inclusion, increase the resilience of online payment systems, and enhance privacy, universal usage, accessibility, and trust.

 

Breakout Session: Harnessing Technology for a more democratic Financial System

In this session, we will explore the possibility of building a more democratic version of the financial system that puts the user at the center. Let's discuss the solutions proposed so far to build a tokenized economy. We will also examine how technology can enhance user experience, foster competition, providing real choice, and enabling data ownership and privacy.

As Deputy Governor, Mr. Rolle oversees the payments function as part of his broader duties. He holds a Bachelor’s Degree in Finance and Economics, College of William and Mary (USA), and a Master’s of Business Administration with a concentration in Finance and Quantitative Methods, University of Georgia (USA).

The Central Bank of The Bahamas, located on the island of New Providence, was established on 1st June, 1974, and is a monument to one of the most rapidly growing, international financial centers in the Caribbean. This unprecedented legal authority manages the financial policies of an independent nation, The Bahamas.

 

Governor's panel about CBDC

In this exclusive panel, central bank Deputy Governors share their views on CBDCs. Gain unique perspectives on CBDC design, policy considerations, and the role of CBDC in shaping the future financial system. Learn about the challenges, opportunities, and potential implications of CBDCs in the financial sector. Hear from these high-level decision-makers their strategic vision and practical insights that drive the CBDC agenda.

Anca is the co-founder of SODA and web3 advisor to the World Bank Innovation Office. She has spent almost five years as Head of Public Sector at cLabs, working on Celo, an open blockchain platform. Prior to that she spent over eight years at the World Bank focused on financial inclusion and fintech.

SODA is a technology-agnostic firm offering advisory services at the intersection of central banking, digital finance and the web3 industry, aiming to make public digital money a reality. SODA focuses on enabling ‘real life’ user-centric use cases for digital currency to help test public digital money and drive adoption.

Panel discussion : CBDC vs Tokenized Assets vs Stablecoins

This panel explores the evolving landscape of digital currencies and their implications for the future of finance.

CBDCs are state-backed digital representations of fiat currencies. Tokenized assets are digital representations of real-world assets like real estate or stocks, providing fractional ownership and increased liquidity. Stablecoins are cryptocurrencies pegged to stable assets like fiat currencies or commodities, were highlighted for their potential to mitigate volatility in the crypto market and facilitate cross-border transactions.

The panelists debated the advantages and challenges of each approach, including regulatory concerns, technological feasibility, and potential impact on monetary policy. Overall, the discussion underscores the need for careful consideration of the diverse implications of CBDCs, tokenized assets, and stablecoins in shaping the future of global finance.

Jaemin Ryu is a senior economist at the Bank of Korea and currently working on initiatives related to digital currencies at the Digital Currency Strategy Team. He holds a PhD and an MA in Economics from Michigan State University, and a BA in Economics from Seoul National University.

Bank of Korea is the central bank of Korea.

Bank of Korea’s CBDC projects: A step toward new financial market infrastructure
The presentation will provide an overview of the Bank of Korea's research and development initiatives related to CBDCs. It will explore the key outcomes and insights gained from previous projects. Subsequently, the presentation will introduce the Bank of Korea's latest endeavors in the realm of CBDCs, which aim to establish a new financial market infrastructure. It will cover the proposed network design, architectural frameworks, and the various types of digital currencies within this network.

Michael is a board-level advisor to major international banks, industry associations, regulators and finance bodies across the world to regularly help shape future directions in all key decision making bodies (e.g. European Commission/ECB/European Parliament in Europe, and central banks from Japan to Uruguay and Kazakhstan). Keynote speaker at major international events, quoted in all business publications and translated in over 10 languages.

We work together with all stakeholders in the payments domain, including solution providers, payment processors, banks, corporates, public sector organisations and special interest organisations, offering services of Business Consultancy and Market Research in the areas of innovation in payments and digital money.

The presentation title will be announced soon

Joachim Samuelsson is CEO and board member at publicly-listed Swedish deep tech company Crunchfish. Joachim is a tech pioneer and a serial entrepreneur with many patents in digital payments and mobile technology. He has a Master of Science degree from 1998 in Industrial Engineering and Management from Linköping University.

Crunchfish is a deep tech company developing a device-agnostic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq in Stockholm since 2016, with headquarters in Malmö and a subsidiary in India.

Function before form: Assumptions to avoid when designing retail CBDC systems

Retail CBDC systems are challenging to implement in practice. There are many features of cash that are desirable to replicate digitally. This presentation highlights the drawbacks of making pre-mature assumptions on form, such as representing CBDC as a digital banknote and using hardware-based secure elements in mobile devices, as it inevitably leads to limitations on function. A layer-2 solution with trusted client applications within virtual secure elements are presented as superior forms for implementing the functions of offline payment and privacy in retail CBDC systems.

Panel discussion : Offline payments with CBDC

The implementation of offline payments in retail CBDCs presents both significant challenges and essential benefits.

Challenges include ensuring robust security and privacy in transactions without online verification, which is critical to prevent fraud and unauthorized access. Developing reliable, secure hardware or software solutions that can function without an internet connection is technologically demanding. Additionally, creating a universally accepted offline payment system requires infrastructure upgrades and compatibility across diverse devices and platforms. There's also the issue of maintaining transaction limits and monitoring for compliance with financial regulations, all while offline.

Despite these challenges, the importance of offline payment capabilities in CBDCs cannot be overstated. They enhance financial inclusion by providing access to digital payments in areas with limited internet connectivity, thus reaching underserved populations. Offline functionality also ensures transaction continuity during network outages or in emergencies, supporting resilience in payment systems. Moreover, it offers a level of convenience and privacy for users, promoting broader adoption of CBDCs. Ultimately, developing robust offline payment solutions is vital for a resilient, inclusive, and widely usable CBDC ecosystem.

Adolfo Sarmiento is responsible for the monetary policy implementation and the payment system regulation and supervision at the Central Bank of Uruguay. He has been working as external advisor for the IMF on CBDC projects.

The Central Bank of Uruguay is responsible for monetary policy, financial stability and financial services supervision in Uruguay.

Panel discussion : Interoperability & cross border payments

CEO and Co-founder of TrustNoteD AG . Co-founder and shareholder of Augentic GmbH. COO Veridos (2015-2019). 25+ years of experience working with Governments, Central Banks, and Commercial Banks (Leicher/Gunnebo 1995-2002; G+D/Veridos 2002-2020).  Board Member at Munich Network (2007 - March 2023) ICAO. Board Member for Public Key Directory (2015 -2018). Lecturer at Technical University Munich (TUM) for Networks for Monetary Transactions and adjunct Professor at Faculty of Business and Technology at University of CYBERJAYA/Malaysia.

TrustNoteD (TND) is a Switzerland-based company specializing in the design, integration, testing and operation of cutting-edge solutions in the fields of Central Bank Digital Currency (CBDC), Tokenization, DLT ID-Solutions for Governments and Cybersecurity.

Breakout session : Turning Green Innovations into Bankable Tokens

Bankable digital asset token eg based on CBDC solutions incentivize stakeholders to protect natural resources by offering financial benefits. This approach enhances transparency, accountability, and democratizes access to environmental investments, enabling broader participation in sustainable initiatives.Environmental protection is crucial and impacts everyone. Our planet's condition directly influences our health, well-being, and the future of generations to come. From the air we breathe to the water we drink and the soil that supports our food and ecosystems, every aspect of our lives is connected to the environment. Therefore, it is imperative that we all take responsibility. By making sustainable choices and supporting green innovations, we can ensure a healthier, more resilient world for all.

Witit is the current deputy director for the Bank of Thailand, leading policy and regulatory works on digital assets including utility tokens and stablecoins as well as regulatory sandbox for asset tokenization. He also leads Central Bank Digital Currency (CBDC) for cross-border payment under mBridge project. His previous experience includes FX market liberalization, FX intervention, financial market development and monetary policy strategy. He also worked as executive assistant of the deputy governor of the Bank of Thailand. In addition, he worked as a visiting researcher at Bank for International Settlements (BIS).

Bank of Thailand is the central bank of Thailand.

1. Transactional and Network analysis of CBDC paper 2. Retail CBDC Pilot Program – Conclusion Report

This speech will provide insights into the transactional and Network analysis of the CBDC paper, as well as the conclusion report of the Retail CBDC Pilot Program of the Bank of Thailand.

Economist, graduated at Corvinus University, Budapest. Joined the central bank in 2001. Anikó is responsible for promoting digital transformation in the financial sector as well as within the central bank, including the implementation of cutting edge technologies and research on CBDC. She is member of the Financial Stability Council.

Magyar Nemzeti Bank is the central bank of Hungary

CBDC Academy : Finding the proper use case for retail CBDC - a  user-centric approach in Hungary

 

CBDCs are coming for sure, however, the exact design is still to be identified. How a central bank in the EU can get closer to those ideas that serve existing customer needs, and still preserve financial stability? MNB with its novel approach has developed and is operating the Student Safe as a retail pilot since 2023. Simultaneously, under Project Rosalind, have identified further use cases where the special features of DLT technology could be deployed. The presentation will introduce the ideas, the implementation, and the main takeaways from these excercises. Will also elaborate on future plans.

Deputy Governor Mamerto E. Tangonan is the head of the Payments and Currency Management Sector of the Bangko Sentral ng Pilipinas, which is tasked to address the interplay between digital money and physical currency and support the digital transformation of Philippine financial service

Bangko Sental ng Pilipinas is the central bank of the Philippines.

Governor’s Panel about CBDC

In this exclusive panel, central bank Deputy Governors share their views on CBDCs. Gain unique perspectives on CBDC design, policy considerations, and the role of CBDC in shaping the future financial system. Learn about the challenges, opportunities, and potential implications of CBDCs in the financial sector. Hear from these high-level decision-makers their strategic vision and practical insights that drive the CBDC agenda.

Tobias heads the digital think tank at the Association of German Banks. Before that, he worked as a strategy consultants for a Big Four as well as internal consultant for a German private bank. He started his career as a trader at the Berlin Stock Exchange. Tobias Tenner holds a degree in economics and business administration.

Association of German Banks represents more than 200 private commercial banks & fintechs in Germany.

CBDCs from a German Perspective - is the Digital Euro a competitive solution

5 years of digital euro, 5 years of emerging CBDC discussion. In addition to functionality, the role model and the question of acceptance, the geopolitical significance of CBDCs play a decisive role.

 

Panel discussion : CBDC vs Tokenized Assets vs Stablecoins

This panel explores the evolving landscape of digital currencies and their implications for the future of finance.

CBDCs are state-backed digital representations of fiat currencies. Tokenized assets are digital representations of real-world assets like real estate or stocks, providing fractional ownership and increased liquidity. Stablecoins are cryptocurrencies pegged to stable assets like fiat currencies or commodities, were highlighted for their potential to mitigate volatility in the crypto market and facilitate cross-border transactions.

The panelists debated the advantages and challenges of each approach, including regulatory concerns, technological feasibility, and potential impact on monetary policy. Overall, the discussion underscores the need for careful consideration of the diverse implications of CBDCs, tokenized assets, and stablecoins in shaping the future of global finance.

John advises leading institutions on digital financial markets, digital currency, and CBDC topics ranging from strategy to design, implementation, and secure operation, allowing these institutions to take the next step in developing the digital financial ecosystem.

Otranto operates globally, advising leading institutions on digital financial markets, digital currency and CBDC topics. Otranto focuses on strategy, management, technical, and information security advisory services. We have global delivery capabilities for developing and implementing Central Bank Digital Currency (CBDC) and Digital Financial Markets (DFMs) solutions.

CBDC Academy : Digital Tenge - From Pilot To Production

The National Bank of Kazakhstan released the Digital Tenge into limited production in November of 2023 and has been successively rolling out a variety of applications for this new format of central bank money. The Digital Tenge is a general purpose CBDC with applications across a number of consumer, citizen, commercial and cross border applications. In this presentation you will hear more from the team leading this amazing achievement and get an update on the latest developments and plans for the coming years.

Lead consultant for Reconnaissance on CBDCs writing extensively and regularly about them both considering both technical and policy options.  Editor of Cash & Payment News looking at payment developments and their impact on cash.  Consultant advising on projects such as the impact of changing cash usage.

Reconnaissance publishes newsletters and reports, organises conferences and webinars and offers consulting services. Its publications relevant to central banks cover the technical through to policy of all elements of cash, physical and digital, and payments with strong forward looking content. Currency News is a media partner of the CBDC conference.

Panel discussion : The user aspects of CBDC

A CBDC should ultimately satisfy user requirements. But who are the customers, and what excatly are their requirements ? And what are the drivers that shape these requirements ? How do these requirements vary across geographical and cultural boundaries ?

Join this panel session to learn mor about this topic !

Leanne is an Advisor at the BIS Innovation Hub Hong Kong Centre, where she leads CBDC and big-data-analytics projects. Prior to joining the Hub, she was an Economist at the Hong Kong Monetary Authority. She has published papers on CBDC, climate risks and global supply chains, and her work has been featured in the Financial Times, The Wall Street Journal and The Economist, among others. She holds an MPhil in Economics degree from the University of Oxford, where she was a Louis Dreyfus-Weidenfeld Scholar, and an undergraduate degree in Mathematics and Economics from McGill University.

The BIS's mission is to support central banks' pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks. The BIS Innovation Hub develops public goods in the technology space to support central banks and improve the functioning of the financial system. We have centres around the world and a global network of central bank experts on innovation.

Connecting economies through CBDC: an update on Project mBridge

This presentation will provide an update on the BIS Innovation Hub, Hong Kong Centre’s Project mBridge , a multi-CBDC platform for wholesale cross-border payments that recently reached MVP stage.