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SEP. SEP. SEP.
12. 13. 14.
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Time
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Presentation / Session Title
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Speaker / Panelists
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Location
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Tuesday, 12. September 2023
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09:00 – 14:00 |
Conference Registration
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Foyer
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09:25 – 10:15
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Reality Check: a glimpse into CBDC pilot projects
Pilot projects provide valuable knowledge for central banks exploring CBDC implementation. This session explores the insights and lessons learned from these projects, the necessary steps to transition from pilot to production, the essential components required for a fully operational CBDC ecosystem, and strategies to foster widespread adoption. The focus also extends to addressing key design characteristics such as offline functionality, adapting to evolving technologies, and building a future-proof CBDC platform.
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Giesecke+Devrient
, Giesecke+Devrient
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Begonya 1
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CBDC Academy : How fintech innovation can unleash the power of CBDC
Central Banks are poised to bring CBDC to market, however consumer needs are wide and evolving. Learning from the early experiments, Central banks can enhance their journey and increase their probability of success by embracing and integrating the fintech ecosystem as part of their discovery process.
What do users want or need? What are real life problems that can be solved with CBDC for wholesales and retail use cases? We'll showcase effective tools for central banks to leverage.
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EMTECH |
Begonya 2 |
CBDC Academy : From Design to Implementation: Live Presentation of a Combined Wholesale & Retail CBDC Solution
Design and technology of CBDC solutions vary depending on the political and monetary objectives.
In this session, we will demonstrate a concrete solution based on a defined set of objectives.
We walk you through the steps from issuing CBDC, distribution, monitoring and off-line capability with our DUAL® solution.
Every participant can experience CBDC on their own device*.
*For this presentation iOS only, for Android users we offer test devices.
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, TrustnoteD
, TrustnoteD
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Begonya 3 |
10:15 – 10:35
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Coffee Break
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Foyer
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10:35 - 11:25 |
CBDC Academy : What use cases do CBDCs support and what can we look to achieve with CBDCs?
Everyone knows what CBDCs are. But what do CBDCs enable you to achieve? What are the use cases? And how can CBDCs be used to deliver transformational opportunities for countries across the world? Join us at this CBDC Academy session to find out answers to these questions and more.
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, nChain |
Begonya 1 |
CBDC Academy: Cross-border payments with CBDC
It is logical for central banks developing CBDCs to initially focus on domestic payment challenges, however it is vital that cross-border payments are considered at the design stage to ultimately facilitate interoperability between the CBDCs of individual countries.
In this session, experts from Ripple will discuss the need for cross-border payment functionality in the design of CBDC, as well as the practical considerations required to incorporate this.
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, Ripple
, Ripple
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Begonya 2 |
CBDC Academy : Offline payment solutions with CBDC: a showcase
Offline payments are generally considered the most complex part of a CBDC system, as they raise issues related to usability, security and privacy. In this Academy session, we will present what stakeholders are saying about the need for offline payments, available architectures and technology solutions, how they compare, available value transfer protocols (how users pay), the best user devices for offline, interactions with online CBDC. We will conclude by exploring risk management and privacy issues.
This session will use real-life examples and live demonstrations to give the audience a feel of what offline payments will eventually look like.
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, IDEMIA
, IDEMIA
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Begonya 3
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11:30 – 12:20 |
CBDC Academy : The role of public money
The use of cash as a means of payment diminishes. The shift towards more use of digital means of payment also leads to a shift from public money to private money. Central bank digital currencies could supplement cash to continue offering the public access to central bank money and convertibility at par with private money. In this presentation we focus on the role of central bank money, on cbdc policy goals and design choices, and on trade-offs to be made in the process.
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, De Nederlandsche Bank |
Begonya 1 |
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.
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, Digital Euro Association
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Begonya 2 |
12:15 – 13:30
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Lunch
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Restaurant « Almina »
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13:30 – 13:45
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CBDC Conference opening
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Beat Attinger, CBDC Conference
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Ballroom
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13:45 - 14:00 |
Opening remarks |
, Executive Director, The Central Bank of the Republic of Türkiye |
Ballroom |
14:00 – 15:00
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Governor’s Panel: CBDC from a central bank's perspective
Don't miss our exclusive panel, where 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.
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Board Member, Banco Central de Chile
, Deputy Governor, Central Bank of Nigeria
, First Deputy Governor, Bank of Ghana
, Manager, Currency, Central Bank of the Bahamas
Chair: , Standard Chartered Bank
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Ballroom
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15:00 – 15:40
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Coffee break
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Foyer
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15:40 – 16:00
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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.
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, Central Bank of the Bahamas
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Ballroom
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16:00 - 16:20 |
The Digital Pound: an update
In February 2023, the Bank of England and HM Treasury released a joint Consultation Paper setting out the public policy case for a retail CBDC in the UK, the digital pound. This presentation will set out the motivation and proposed design for the digital pound, as well as plans for the next phase of CBDC work in the UK.
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, Bank of England |
Ballroom |
16:20 - 16:40 |
Norges Bank testing with CBDC
The presentation will cover testing undertaken by Norges Bank in its fourth project phase. In this phase we focused on rCBDC and relied on Hyperledger Besu to build our sandbox and further testing. We amongst others tested CBDC issuance and destruction, mass-payments, swapping and bridging. We also tested with the deployment of smart contracts for verified credentials, compound interests, and AML-procedures. Icebreaker was a successful happy-path project for cross-country payments through rCBDCs together with cooperating central banks and the BIS Innovation Hub of Stockholm.
Disclaimer: Any choice in this phase is not indicative of our final CBDC-decision.
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, Norges Bank |
Ballroom |
16:40 - 17:00 |
Case Study : Jam-Dex One year on & moving forward
Discussion of the main challenges and opportunities of Jam-Dex. Providing lessons learnt and the next steps.
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, Bank of Jamaica
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Ballroom
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17:00 - 17:20 |
The Riksbank e-krona project: an update
This presentation will share insights from Riksbank’s current work with the e-krona including takeaways its third e-krona pilot report, which examines how an e-krona could work if a decision is taken in the future to issue digital central bank money. The focus during Phase 3 of the pilot has been to examine how the Riksbank could interact with other actors in the payment market to give the general public access to, and the possibility to pay with, an e-krona, how conditional payments can be made and whether a digital central bank currency can simplify cross-border payments.
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, Sveriges Riksbank |
Ballroom |
17:20 – 17:30
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Q&A
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Ballroom
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18:30 – 20:30
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Networking Cocktail
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Foyer |
Wednesday, 13. September 2023
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08:30 – 08:50
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Less haste, more speed: why plans for retail CBDC need to be less ambitious
There are substantial project risks in the launch of retail CBDCs. These include: technical risks; difficulty of providing CBDC interfaces on a sustainable economic basis; and failure to achieve widespread adoption. Prototype retail CBDC designs, e.g. the Digital Pound and Digital Euro, impose restrictions to reduce financial stability risks that serve to magnify these project risks. The solution is to be less ambitious. Target first launch on specific use cases in niche payment contexts where there is clear demand and initial financial subsidy can be justified to both cover initial technical risks and support the business models of service providers.
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, Loughborough University
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Ballroom
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08:50 – 09:10
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Monetary policy implications of Central Bank Digital Currencies (CBDCs)
Central bank digital currencies (CBDCs) promise many benefits but, if not well designed, they could have undesired consequences, including for monetary policy. This session will discuss: (i) the monetary policy implications of issuing unremunerated two-tiered retail CBDCs and w-CBDCs, both in jurisdictions with conventional banking systems and those governed by Sharia’h rules; (ii) The channels through which CBDC affect monetary policy implementation and transmission and the nature and relative strength of the impact, (iii) the policy and structural factors that could amplify or mitigate the impact; and (iv) strategies to minimize unintended consequences of CBDCs on monetary policy.
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, IMF
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Ballroom
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09:10 – 09:30
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The Digital Euro: An anchor of stability or a gigantic flop?
The ECB has great expectations for the Digital Euro: "A digital euro (…) would provide a monetary anchor in the digital age, serving as a public good. It could foster innovation, increase the efficiency of payments, and support the overall economic efficiency of the European Union". In our view, as new payments object the digital euro offers no advantages compared to cash and traditional bank deposits. As a new payment system, the digital euro must compete with payment platforms like Paypal. So far, it seems not likely, that the digital euro could break the dominance of existing platforms.
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, University of Würzburg
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Ballroom
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09:30 – 09:50
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Building ecosystems for CBDCs: Barriers and value for ecosystem players
This presentation will paint the establishment of CBDCs as ecosystem development and question the various issues that may arise from the alignment and management of ecosystem players in the right way. It will draw from examples from other multiplayer nationwide systems and provide takeaways for regulators to create win-win situations.
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, Saïd Business School, Oxford University
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Ballroom
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09:50 – 10:30
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Coffee Break
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Foyer |
10:30 – 11:20
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Panel discussion: Design & policy aspects
This panel explores the intersection of design and policy in CBDCs. The panellists will analyze the implications, challenges, and best practices for CBDC design and policy frameworks.
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, Central Bank of Nigeria
, nChain
, Banco Central de Chile
, Bank of Thailand
Chair: , University of Würzburg
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Ballroom
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11:25 - 12:15 |
Panel discussion : Financial inclusion
This panel delves into the ways CBDCs can empower the unbanked, enhance access to financial services, and bridge the digital divide. It offers insights into inclusive design approaches, regulatory considerations, and strategic partnerships driving financial inclusion through CBDCs.
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, IMF
, Magyar Nemzeti Bank
, IDEMIA
, World Economic Forum
Chair: , Saïd Business School, Oxford University
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Ballroom |
12:15 – 13:30 |
Lunch |
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Restaurant « Almina » |
13:30 - 14:30 |
Workshop : Pioneering central bank innovation: BIS-Innovation Hub case studies
In this session, several BIS Innovation Hubs (BISIH) will present case studies from the field of CBDC and tokenization of items. The session is designed as a panel discussion so that attendees can actively participate in the discussion.
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, Bank for International Settlements - Innovation Hub
, Bank for International Settlements - Innovation Hub Hong Kong
Chair: , Bank for International Settlements - Innovation Hub Hong Kong
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Ballroom |
Workshop : Implementing a CBDC (pilot)
Launching a CBDC (pilot) involves various risks, but also opens up opportunities.
In this workshop, representatives of the Bank of Ghana and the Central Bank of Nigeria will share their experience with their CBDC (pilot) projects. They will be supported by technology providers who will present their views and explain the project from their perspective.
This hands-on workshop is designed for central banks that are considering rolling out a CBDC (pilot).
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, Giesecke+Devrient
, Central Bank of Nigeria
, Central Bank of the Bahamas
Chair:
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Begonya 1 |
14:40 – 15:00 |
Breakout session: Ripple's full stack CBDC platform
Come and hear about Ripple's new CBDC Platform for minting, managing, transacting, redeeming and destroying Central Bank Digital Currencies or Stablecoins. Ripple experts will present the benefits of the Ripple CBDC Platform and a demo.
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, Ripple |
Ballroom |
Breakout session : From Pilot to Adoption: Leveraging Regulatory Sandbox to unlock CBDC Use Cases
One of the main obstacles to adoption of Retail CBDC are the gaps in regulatory frameworks for fintechs to access central banking infrastructure. This is new to central banks and fintechs alike. We'll discuss how regulators can leverage regulatory sandbox to enable new frameworks for fintechs to access and provide CBDC-related services safely and inclusively.
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, EMTECH |
Begonya 1 |
Breakout session : Privacy in CBDC: Lessons learnt from experimentations with central banks
All surveys show that privacy is the main concern of CBDC users and will be a key factor in their success. Working with central banks, we have noticed that their approach to privacy varies. We have also found that technology can enable them to build the privacy model they deem appropriate, from total privacy to total traceability. In this presentation, we will share these findings and outline a way forward for the deployment of privacy-protective CBDC solutions.
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, IDEMIA
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Begonya 2
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Breakout session: Managing CBDC across Liquidity Pools with Corda
In this session, Harrison will delve into the progress of domestic, bilateral, and multilateral CBDC networks, exploring their implications on liquidity management for central banks and financial institutions. Additionally, Harrison will examine the current CBDC distribution models across these networks. Attendees will get an exclusive preview of R3's digital currency product, which provides innovative solutions to tackle the challenges of CBDC implementation and distribution.
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, R3 |
Begonya 3 |
15:10– 15:30
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Breakout session : How CBDC can ease cross-border payments
Research and experimentations around cross-border CBDCs have accelerated in recent years. However, retail cross-border CBDC experimentations have remained relatively underdeveloped in comparison with cross-border wholesale CBDC payments. At the moment, cross-border payments face significant and urgent challenges around costs, speed, transparency, and regulation. This session will deal with questions like - What opportunities do CBDCs offer and what are the hurdles to overcome? - What potential use cases are there? - What could a solution look like?
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, Giesecke+Devrient |
Ballroom
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Breakout session : CBDC interoperability in the developing new financial order
Constantly changing world events are affecting many aspects of our daily lives and none more so than the wave of change that CBDC will bring about. This presentation will cover how we got here, whats happening around the world and where we are headed and how we can ensure that this new format of money as we know it, needs to continue to interoperate with existing and new developing systems
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, Otranto Limited |
Begonya 1 |
Breakout session : Learnings from the National e-ID business: Parallels between Digital ID and CBDC
In this session, an overview of the parallels between the development of the Digital ID and CBDC worlds is given. The session aims to share the learnings from the ID business and ways to transfer these learnings to the CBDC world.
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, TrustnoteD |
Begonya 2 |
15:30 – 16 :10
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Coffee Break
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Foyer |
16:10 – 16:30
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Premier to Africa's first CBDC
A discussion of Nigeria's CBDC journey, the lessons learnt and implications for African countries
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, Deputy Governor, Central Bank of Nigeria
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Ballroom
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16:30 – 16:50
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Digital Tenge: Overview and further steps
This presentations describes studies conducted by the National Bank of Kazakhstan in the field of central banks digital currencies. It is focused on both previous experience and perspective.
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, National Payment Corportation of Kazakhstan
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Ballroom
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16:50 – 17:10
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Project e-HKD in Hong Kong: An update
This presentation will cover the Hong Kong Monetary Authority's CBDC journey and the recent progress made on the e-HKD Pilot Programme, which delves into six categories of potential use cases, including full-fledged payments, programmable payments, offline payments, tokenised deposits, settlement of Web3 transactions and settlement of tokenised assets.
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, Hong Kong Monetary Authority
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Ballroom
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17:10 - 17:30
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The Bank of Israel Digital Shekel Project
The Bank of Israel has been studying the topic of CBDCs since 2017, and launched "the digital shekel project" at the end of 2020, in order to prepare an action plan for a potential issuance of a CBDC in Israel. The bank is conducting technological experiments, some of them in cooperation with other central banks and the BIS, as well as policy and business analysis. Recently, the Bank began to work on a detailed design for the potential digital shekel. This is done by exploring different topic areas and accumulating decisions and requirements, which would eventually provide a complete design document.
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, Bank of Israel |
Ballroom
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17:30 - 17:50 |
Tokenized Deposits: The Commercial Bank Money Token as a supplement to CBDC
Today, we are in the 4th industrial revolution, which is leading to production that is closely linked to communication and information technology (Industry 4.0). One manifestation of Industry 4.0 will be a machine-to-machine economy in which machines and sensors autonomously transmit data and control production processes without human interaction; smart contracts will gain crucial importance. The expected shift of business processes to DLT infrastructures in the future also creates new challenges for banks. CBDC does not address all these challenges. CBMT is the evolution of today's account-based fiat money.
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, Association of German Banks |
Ballroom |
17:50 – 18:00
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Wrap up of the day
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Beat Attinger, CBDC Conference
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Ballroom
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19:00 – 21:00
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UDPN CBDC Conference Dinner
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Thursday, 14. September 2023
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08:30 - 09:50
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CBDC & digital identity
Over the last 3 years, two key themes that have emerged have significant impact on our lives as organisations and individuals – the digitalisation of money and identity. These areas have evolved in silos but as they develop, it is clear that there are dependencies that need to be considered. Central banks are increasingly asking questions about digital ID and what this means in terms of impact and future adoption of CBDCs and other digital assets. While objectives of CBDCs encompass data privacy, user consent, and individual control, while simultaneously ensuring rigorous transaction management and evolving compliance requirements. Digital ID mirrors these objectives and facilitates not just individual users, but also businesses to interact securely and efficiently within the CBDC ecosystem. The need to understand Digital ID and the impact this could have on CBDC and digital assets in general is paramount given the new Digital ID capabilities will change the way each individual as well as organisation handles identity as well as change in regulations that will emerge. This presentation will highlight key concepts in digital ID, their relevance to CBDC and what are the key areas to consider when designing and implementing CBDCs given the changes coming in Digital ID globally.
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, nChain |
Ballroom
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08:50 - 09:10 |
Digital Public Infrastructure (DPI): a call for CBDC
Transport, water, education – societies rely on public goods. The quality and availability of public infrastructure strategically position the country toward advancement, competitiveness, and higher standards of living for their citizens. With our lives becoming ever more digital, the provisioning of public infrastructure needs to evolve to the digital world with digital payments as one of its critical aspects: - Are CBDCs an indispensable part of the digital public infrastructure? - What does this mean for the design of a CBDC? - Is public-private collaboration the way to success?
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, Giesecke+Devrient |
Ballroom |
09:10 - 09:30 |
Decentralizing access to Digital Cash: Why Central Banks Should Adopt a Web3 Enabled CBDC
Although the FTX failure impacted the crypto industry, major financial institutions are working on tokenization and safer models of Virtual Assets and Digital Currencies, ushering in the Web3 world. If cash is to transition into the Web3 era, it's paramount that CBDC is Web3-Enabled. Web3 capabilities also offers unique properties to safely decentralize the access to cash as public and riskless money in an economy. Central banks have a lot to like in Web3!
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EMTECH |
Ballroom |
09:30 - 09:50 |
DUAL®, a connected banknote that bridges the physical and digital world of currencies
In a "CBDC only" currency system, aspects like consumer privacy or the ability to work offline are still unsolved. A DUAL®, a connected banknote, is a physical banknote that interacts with a CBDC solution and acts as a transitional device between cash-based and CBDC-based payment systems. This innovative banknote can be used like a classic banknote; however, the owner can transfer the banknote's value to a digital wallet by scanning the hidden QR code with a mobile device. Our DUAL(R) solution complements the CBDC-based payment system, provides privacy and enables the consumer a choice between different payment systems.
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, Orell Füssli Security Printing
, Trustnoted
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Ballroom |
09:50 - 10:30
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Coffee Break
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Foyer |
10:30 – 11:20
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Panel discussion : Cross-border payments with CBDC
This panel discusses the intricate landscape of cross-border transactions. It explores the potential of CBDCs to streamline international payments, enhance remittance processes, and facilitate borderless transactions. It offers insights into the regulatory challenges, interoperability frameworks, and collaboration between central banks required to harness the full potential of CBDCs in a global context.
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Banque de France
, WEF
, Bank of Israel
, Ripple
Chair:, Payments Innovation Consulting
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Ballroom
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11:25 - 12:15 |
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.
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, IMF
, R3
, Bank of Canada
, Standard Chartered Bank
Chair: , Digital Euro Association
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Ballroom |
12:15 – 13:30 |
Lunch |
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Restaurant « Almina » |
13:30 – 14:20
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Panel discussion: Macro-economic ecosystem for a CBDC
This panel explores the fundamental elements required for a CBDC to thrive within the macro-economic ecosystem. It will examine the economic implications, monetary policy considerations, and fiscal frameworks necessary to support the successful integration of CBDCs.
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, IMF
Bank of Zambia
, Payments Innovation Consulting
, Banco Central del Uruguay
Chair : , Giesecke+Devrient
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Ballroom
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14:20 - 15:00 |
Coffee break |
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Foyer |
15:00 - 15:20 |
The art of adapting to the changing needs of central banks in their CBDC journey
There is no one-size-fits-all solution for CBDC design and implementation. Central banks have different approaches to studying and launching CBDCs, due to many factors such as their political and economic environment, competing priorities, objectives, market readiness, etc. As the world’s leader in CBDC deployments, Bitt understands the diversity and complexity of the CBDC landscape. We will share our insights and experiences from working with central banks that have diverse CBDC strategies and timelines. We have learned that the best partners adapt with their central bank clients’ CBDC journey.
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, Bitt |
Ballroom |
15:20 – 15:40
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Wholesale CBDC - Empowering central bank money for a digital future
Wholesale CBDC goes beyond the concept of central bank reserves. It´s about keeping central bank money settlement safe, efficient and fit-for-purpose. Especially when the financial sector faces new technologies such as distributed ledger technology (DLT), central banks need to pay attention. Given the opportunities presented by DLT, the question arises as to how the cash-side settlement of DLT-based transactions can be realised. So-called trigger solutions describe one promising solution approach. They connect the DLT world with conventional payment systems and enable the settlement of tokenised assets in central bank money – simple to implement and almost free of risk.
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, Deutsche Bundesbank |
Ballroom
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15:40 - 16:00 |
The Universal Digital Payments Network: Interoperable payment infrastructure for the digital currencies of tomorrow
The inexorable rise of digital currencies globally has brought with it a proliferation of digital payments initiatives, each seeking to deliver faster, cheaper and more efficient payments to end users. One of the major challenges to solve for in digital currency payments is that of interoperability to enable the transferring and swapping of different currencies underpinned by different protocols. The Universal Digital Payments Network, or UDPN, is one initiative in the digital currency payments space that solves the interoperability challenge, and then goes further to differentiate itself from both new and incumbent approaches to cross-border payments. The UDPN is a global messaging network supporting government-regulated digital currency systems, including regulated stablecoins and Central Bank Digital Currencies (CBDCs).
In this keynote, you will learn more about how the UDPN promotes financial inclusion, and connects global enterprises to the future centralised and decentralised digital currency systems.
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, GFT |
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16:00 – 16:20 |
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.
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Johannes Duong, Oesterreichische Nationalbank |
Ballroom |
16:30 – 16:40
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Closing of CBDC Conference 2023
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Beat Attinger, CBDC Conference
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Ballroom
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