Digital Money Blueprint

 

The conversation covers a broad range of topics related to digital money, including introductory remarks about the importance of digital money, the roles various organisations play, and their current projects.

Key highlights

Discussion on Digital Money and Tokenization

  • The panelists discuss various aspects of digital money and tokenization. They cover the transformation of money and value transfer systems through blockchain and permissioned ledgers.
  • They highlight the importance of programmability, efficiency, and the need for interoperable systems.

Central Bank and Commercial Bank Collaboration

  • Discussion on the relationship between central banks and commercial banks, focusing on the role of central bank money in ensuring stability and how it can be integrated with new digital systems.
  • The impact of policy, regulation, and market infrastructure on the evolution of digital money is highlighted.

 

Focus on Cross-Border Payments.

  • The challenges and innovations in cross-border payments are discussed. The emphasis is on achieving atomic and instant payments while ensuring compliance and liquidity.
  • The need for clear standards, market infrastructures, and network hierarchy rules to facilitate interoperable and fungible money systems is emphasised.


Future Priorities and Expectations

  • Panelists share their priorities for the upcoming year, which include moving from exploration to production, achieving commercial viability, and expanding the tokenization of commercial bank money.

 

Conclusion:

The session concludes with reflections on future priorities, focusing on achieving commercial viability, scaling digital money solutions, and continuing collaborative efforts between financial institutions and central banks.

 

Watch Full Session

 

 

Speakers:

  • Dr. Alexandra Hachmeister, Director General Digital Euro, Deutsche Bundesbank
  • Lim Soon Chong, Global Transaction Services, Managing Director & Group Head, DBS Bank
  • Naveen Mallela, Managing Director, J.P. Morgan

 

Moderator: 

  • Alan Lim, Director & Head, Financial Infrastructure and Artificial Intelligence Office, Monetary Authority of Singapor

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