Understanding the Digital Currency Landscape in Asia and Beyond
AICB’s first webinar collaboration of the year with the Asia School of Business (ASB) focused on the widespread interest in central bank digital currency (CBDC). Held on 19 May 2021 @ 10 am, “Understanding the Digital Currency Landscape in Asia and Beyond” covered the latest developments in the progress of CBDCs globally. Prof. Anella Munro, Professor of Economics at ASB, shared insights into the state-of-play on CBDCs in countries that are seen to be leading the way, highlighting that more than half of the world's central banks are already actively exploring CBDCs, while some, most notably China’s, are well on the way to a full launch. She enlightened the audience on the different CBDC models available today; their principles, features and purposes; the differences between cryptocurrency and CBDCs, and the pros and cons of CBDCs. Prof. Anella also highlighted the various research initiatives developed by various central banks to coordinate exploratory work on CBDCs to ensure a comprehensive understanding of the risks and implications that CBDCs will have on the stability of the financial sector. The webinar was attended by over 200 individuals.