Agenda
| TIME | AGENDA | |
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| 08:50 | Welcoming Speech, Opening Remarks & Thank You Sponsor Speech By Forum Producer |
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| 08:55 | Opening Address By Forum Chairperson | |
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Mike Khan, CPA Executive Director, Business Management, Finance and Program Governance, Client Engagement Group Australian Taxation Office |
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| 09:00 |
The Future of Digital Currency: Digital Financial Services And Financial Inclusion |
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| Universal access to financial services is within reach because of new technologies, transformative business models and ambitious reforms… As early as 2020, such instruments as e-money accounts, along with debit cards and low-cost regular bank accounts, can significantly increase financial access for those who are now excluded. | ||
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Ratna Sahay Senior Advisor on Gender, Office of the Managing Director International Monetary Fund |
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| 09:30 |
Building The Right Ecosystem For CBDC Development | |
| CBDC initiatives have gained momentum globally and it is no exception in Asia. With many central banks, commercial banks and FinTechs advancing the deployment of CBDC pilots, what is the right ecosystem for driving faster and more secure payment settlements across the world? The key to any viable CBDC will be in activating the comparative advantages of the diverse payments value chain, spanning liquidity providers, network operators, application providers, and end user wallet builders. Central banks will play a key role in orchestrating this ecosystem, and because of the infrastructure around them, have a tremendous opportunity to offer purchasing power.
In this session, R3 will provide a guide for considerations relevant to the issuance, governance , and facilitation of a CBDC. |
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Willy Lim Solution Architect R3 |
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| 10:00 | The Rise Of / Outlook For Digital Securities |
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Benjamin Quinlan CEO and Managing Partner Quinlan & Associates |
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| 10:30 |
The Bank Of England’s Exploration Of CBDC | |
| The Bank of England and HM Treasury have announced the launch of a taskforce to explore a potential U.K. central bank digital currency (CBDC). This presentation will share some of the use case study, challenges and future opportunities around CBDC. | ||
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Shiv Chowla Senior Manager for Central Bank Digital Currency (CBDC) Bank of England |
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| 11:00 |
Revolutionizing Remittances: How Digital Currency Could Build A More Sustainable Global Economy |
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International remittances are the single largest source of external financing for many of the world’s low and middle-income countries. International remittance typically involves an archaic patchwork of correspondent banks, post offices and money transfer agents that usually pocket 7-10% of the total value of each transaction. International remittances using stable coins and their distributed ledgers could eliminate the need for costly intermediaries, allowing for lower fees and immediate settlement. Reducing remittance transaction costs to 3% by 2030 is a target under Sustainable Development Goal 10, and if successful could constitute what would be, in effect, a huge tax cut for the world’s poor. |
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Tanvi Ratna Founder & CEO Policy 4.0 |
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| 11:30 | Lunch Break | |
| 12:30 |
Creating A Trusted Global Digital Currency: The Spectrum Of Privacy And Confidentiality |
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| As countries like China prepare to launch state-backed cryptocurrencies, various private-sector initiatives trying to do the same globally appear to be faltering. What would be required to create a trusted global cryptocurrency in the current economic and regulatory environment? | ||
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Eric Nguyen Senior Manager Robotic Process Automation Synergy Group Australia |
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| 13:00 |
China’s Central Bank Digital Currency: Development Status And Potential Impacts? | |
| Governments around the world are exploring the viability of digital currency. According to the BIS, 80 percent of the world’s central banks have already started to conceptualize and research the potential of Central Bank Digital Currency (CBDC), 40 percent are building proofs-of- concept (PoC), and 10 percent are deploying pilot projects.China is at the forefront and is expected to become the first major economy to launch a CBDC. Its sovereign digital currency program, dubbed Digital Currency Electronic Payment (DCEP), has launched one of the largest realworld trials in several cities over the last few months. By May 2020, China had already filed more than 120 patent applications for its official digital currency (alternately referred to as digital yuan in this article), more than any other country. | ||
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Dr. Jiaying Christine Jiang Hauser Global Fellow New York University School of Law, US |
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| 13:30 | Implementing A Retail CBDC: Lessons Learned And Key Insights | |
| This presentation will inform policymakers on the lesson learned from recently launched CBDC pilot programs. The findings shows that despite differences among jurisdictions, a series of key insights on the design, operation and implementation of a CBDC, emerge from these experiences that could be useful for those exploring the possibility to launch a CBDC. | ||
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Raúl Morales Resendiz Manager | Financial Markets and Infrastructures CEMLA, Mexico |
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| 14:00 | The Role Of The Public Sector And Public-private Cooperation In Digital Currency Growth | |
| Policy-makers at a number of central banks around the world are seriously considering developing and issuing a central bank digital currency, with a consumer-ready CBDC likely to arrive in the next five years. That is the key finding from a report from IBM and OMFIF, a central banking think tank.
The report, commissioned by IBM, encompasses an in-depth survey of officials from 23 central banks in advanced and emerging economies. The findings present a holistic picture of policy-makers’ approaches to setting up a retail CBDC. The survey projects that the first CBDC will be produced within five years in a small economy and respond to a specific policy objective with a well-defined use. A consumer-ready CBDC is likely [ to require some form of public-private partnership. Central banks are hampered in their ability to offer financial services, and private companies will probably fill the gap. Plans to issue proprietary digital global currencies is the most recent and conspicuous manifestation. Large banks and technology companies will have a major role to play as new public private partnerships are formed to promote interoperability, create services, and extend financial inclusion. |
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Tamara Singh Advisory Board Member CarbonBlue Innovations |
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| 14:30 | Regulating Central Bank Digital Currencies: Towards A Conceptual Framework | |
| Due to technological change and the rise of private digital currencies more and more central banks investigate the possibility of issuing their own Central Bank Digital Currency (CBDC). This presentation covers how a conceptual framework can be developed, which shows how the issuance of CBDC and the provision of access that can be regulated. The framework points out that the regulation of CBDC encompasses two components: on the one hand, the regulation of the legal form of CBDC. | ||
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Simon Hess Research |Associate University of Salzburg, Austria |
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| 15:00 | Closing Remarks By Forum Chairperson | |
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Mike Khan, CPA Executive Director, Business Management, Finance and Program Governance, Client Engagement Group Australian Taxation Office |
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| TIME | AGENDA | |
|---|---|---|
| 08:50 | Welcoming Speech, Opening Remarks & Thank You Sponsor Speech By Forum Producer |
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| 08:55 | Opening Address by Forum Chairperson | |
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Mike Khan, CPA Executive Director, Business Management, Finance and Program Governance Client Engagement Group Australian Taxation Office |
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| 09:00 | Keynote Address:
A CTO Guide : How CTOs Can Enter The Digital Transformation Race In Financial Services |
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| Mobile payments and robotic automation in bank offices are no longer considered an innovation. Today’s race for transforming long-established businesses within banking and finance has brought concerns like security in a data-driven world, ageing infrastructure vulnerability and demanding regulatory compliance to the centre stage. And although most of these are here to stay, each technology challenge comes with a range of reasons to question the status quo, and introduce solutions that will secure competitive edge. | ||
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Mike Khan, CPA Executive Director, Business Management, Finance and Program Governance Client Engagement Group Australian Taxation Office |
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| 09:30 | The Future Of Payments: The Challenges Arising From The Digitalization Of Payments And Currency | |
| How CBDCs would improve retail and other payment systems and reduce operational vulnerabilities in the financial system. | ||
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Jason Lee Chief Operating Officer Algorand Foundation |
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| 10:00 | Blockchain Powered Digital Currencies: How Digital Currency Will Disrupt The Market And Provide A Road Map For Money Revolution | |
| The session will focus on the blockchain technology and digital currency development in different nations and some use case or examples will be shared. Also, the alternative uses of the Blockchain technology including the notorious use in the management of digital currency will be discussed. The session will discuss particular cases which implement the Blockchain technology, discussing potentialities and challenges that persist within the implementation. | ||
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Dr. Albert Amanollahnejad Professor Azad University, Tehran, Iran |
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| 10:30 | The Arab Region CBDC Launchpad, The Socio-economic Motivations for Accelerated Pan-Arab Adoption | |
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Suleiman Barada Sr. Advisor & Head of UABdigital Union of Arab Bank |
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| 11:20 | Lunch Break | |
| 12:30 | Panel Discussion: The Future Of CBDCs, The Impact Of CBDCs On Cross Border Payments And The Importance Of Interoperability | |
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Moderator:
Zennon Kapron |
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Panelists:
Sonja Davidovic |
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Matthew Lovatt Exco Member Singapore Fintech Association |
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Syed Musheer Ahmed Founder & MD, Finstep Asia Cofounder, Fintech Association of Hong Kong |
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Indra Suppiah Government Relations Lead, APAC R3 |
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| 13:30 | Central Bank Digital Currency (CBDC) As A Tool For E-money Interoperability | |
| Financial intermediaries and financial market infrastructure may lose significant netting of inflows against outflows when using weakly interoperable payment systems, and may therefore require inefficiently high cash buffers. Or, more accurately, the lack of it. This session will cover what are the alternative approaches to interoperability at recent developments in the interoperability area, the various offerings and real word interoperability use cases that should give an idea of what we may expect. | ||
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Thomas Kudrycki Co-founder and Chief Technology Officer eCurrency, US |
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| 14:00 | CBDC Pilot Tests In Japan, Korea, Saudi Arabia, UAE And Europe | |
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Dr. Oriol Caudevilla FinTech Advisor, Management & Strategy Consultant and Researcher Co-Leader of the CBDC Working Group at the Global Impact FinTech Forum (GIFT) |
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| 14:30 | Closing Remarks By Forum Chairperson | |
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Mike Khan, CPA Executive Director, Business Management, Finance and Program Governance Client Engagement Group Australian Taxation Office |
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| TIME | AGENDA | |
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| 11:00am – 11:45am | Workshop A:
Future Of Digital Currency With Blockchain Technology |
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| Central banks are considering the use of distributed ledger technology and blockchain to develop their own digital currency. However, there remains much debate over the ideal technological infrastructure to operate CBDCs. Blockchain technology offers the benefits of operational resilience, transparency and tokenization, among others. The extent of scalability, the balance between privacy and decentralization, and interoperability opportunities warrant further exploration. This workshop will address how blockchain could benefit CBDC, through exploring DLT design choices, the use of smart contracts or ‘programmable money’ to enable interoperability across blockchain networks within and across borders, as well as how DLT can interact with existing technologies or vendors. | ||
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Willy Lim Solution Architect R3 |
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Jamie Soloman Senior Tech Innovation Strategy Executive, currently Head of Multiparty Systems/ Blockchain Asia Pacific Lead & Growth Markets Digital Exchange & Market Infrastructure Lead Accenture |
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| 11:45 -13:00 | Lunch Break | |
| 13:00pm – 13:45pm |
Workshop B:
Dispelling CBDC Myths: Exploring Better Technological Approaches To CBDC |
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| CBDC is new and continues to evolve fast. Many CBDC concepts, policies, and technologies, as well as the very language used to describe them, are still poorly understood and often confusing and conflicting. The workshop attempts to illuminate and tease apart several CBDC concepts and attributes.
Key-takeaways: |
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Thomas Kudrycki Co-founder and former Chief Technology Officer eCurrency Mint, US |
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