The Future of Money: CBDCs Explained
Get a good understanding of the current use of CBDCs and their potential for the future of finance
About the course
What are CBDCs? Where are they used and why? What are some of the main opportunities and challenges associated with them?
Our expert, Dr. Oriol Caudevilla, will talk you through the world of central bank digital currencies (CBDCs). You will learn the basics of this technology, appreciate its potential to revolutionize the financial industry, but also some of the main regulatory implications that come with it.
Join us on this short course and get a thorough understanding of the current situation of CBDCs worldwide, as well as a brave look ahead to the future of money.
Difficulty: Foundation
Duration: 30mins
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With this online course, you will:
- Discover the future of CBDCs
- Describe the regulatory implications of CBDCs worldwide
- Understand the key definitions, principles and aspects of CBDCs
- Explore main opportunities and challenges that are associated with CBDCs
Skills
Digital currencies
Cryptocurrency
Financial security
Blockchain
DeFi
The expert you’ll be learning from
Dr. Oriol Caudevilla
FinTech and Blockchain Advisor, Influencer, Speaker and Host of “A Digital Tomorrow”
Oriol works as Co-Leader of the Financial Inclusion and CBDCs Working Groups at the Global Impact FinTech (GIFT) Forum, Strategic Advisor at a Hong Kong-based WealthTech company, Mentor at R3 (Singapore), Blockchain Mentor at Tribe (Singapore) and also FinTech Mentor at Rise by Barclays (London and Mumbai).
He is Fellow at the Digital Euro Association (D€A) and at the Singapore University of Social Sciences (SUSS), as well as Honorary Fellow at the Asian Institute of International Financial Law -AIIFL- at the University of Hong Kong (HKU). He is also a member of the FinTech Association of Hong Kong, the Singapore Fintech Association (SFA) as well as FinTech Australia. He has given talks and seminars on the Chinese Financial System, Central Bank Digital Currencies and the Digital Yuan in several universities in the US, Canada, Mainland China, Hong Kong and Macau, as well as in international conferences, like the recent Israel/UAE Fintech Week, the Future of Fintech Saudi Arabia event and the Greater Bay Area Blockchain Week.
Course Content
Central Bank Digital Currencies (CBDCs) have gained significant attention in recent years, with countries around the world exploring their potential benefits and drawbacks. Dr. Oriol, a FinTech advisor and researcher, has been studying CBDCs for the past three years and has published numerous papers, articles, and given numerous talks on the topic. In this paper, we will explore what CBDCs are, their potential benefits and drawbacks, and some of the current initiatives in place around the world.
CBDCs are digital versions of central bank money, issued by a central bank and legally recognised as tender. In order to qualify as a CBDC, the digital currency must be issued by a central bank and must be digital in nature. While the term “CBDC” may seem self-explanatory, it is important to understand the key characteristics that define these types of digital currencies.
CBDCs have the potential to offer a number of benefits, such as increased financial inclusion, faster and cheaper cross-border payments, and enhanced cybersecurity. However, there are also potential drawbacks to consider, including the potential for negative impact on commercial banks and the challenges of implementing a CBDC on a large scale.
Several countries around the world are currently exploring the possibility of issuing a CBDC, including China, which has already launched a pilot program for its digital Yuan. Other countries such as Sweden and the Bahamas have also launched pilot programs, while the European Central Bank is considering the possibility of issuing a digital Euro.
CBDCs have the potential to offer significant benefits, but also come with a number of challenges and considerations. As more countries continue to explore the possibility of issuing a CBDC, it will be important to carefully weigh the potential benefits and drawbacks and to carefully consider the impact on the financial system.
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