The future monetary system: from vision to reality
· Agustín Carstens, General Manager of the Bank for International Settlements (International)
Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets, growth, investment and productivity, technology, ai and cyber risk
AC · Agustín Carstens Wiki · Bank for International Settlements WikiThe future monetary system: from vision to realityContextKeynote speech by Agustín Carstens, General Manager of the BIS, at the CBDC & Future Monetary System Seminar, Seoul, Korea, 23 November 2023.
Why it mattersCarstens presents the unified ledger as a path to a tokenised monetary system.
Problems raised- The financial system needs to adapt to new technology.
- Legal frameworks are unclear on issuing central bank digital currencies.
- Artificial intelligence raises new questions for central banks.
Solutions proposed- Build a unified ledger combining tokenised money and assets.
- Clarify legal frameworks for CBDCs and tokenised systems.
- Encourage central bank cooperation on innovation projects.
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