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 and eleven member associations

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.