date
19/09/2023
Masterclass Schedule:
17:30 – 18:00 Welcome coffee break with a welcome session
18:00 – 20:00 Lecture from the speaker
20:00 – 20:30 Questions for the speaker
Meeting question
Central banksĸ are looking for ways to unĸ the loss of ĸcontrol over their financial systems. One of them is CBDC, the central bank digital currency. In 2020, only 35 countries have launched or are considering implementing CBDC. In 2022, there were already 114 such countries. There are priĸlades of launched CBDCs from the Bahamas (sand dollar), China (e-CNY) and Nigeria (e-naira). These are usually intermediated by commercial banks and co-operate with private wallet providers, which limits the complexity of the
of managing them.
Challenges and risks of the bankĸivsĸ system:
There is a challenge to ensuring a high level of security of the digital money funĸction, namely the problem of digital currency fraud and CBDCs. There is a strong perception that digital currency infrastructural systems can only be introduced into the retail payments industry for criminal purposes: dirty money laundering, tax evasion or illegal gambling (e-lottery, sweepstakes, etc.).
CBDC is a new third form of fiat money. The difference between CBDCs and cryptocurrencies, is that the latter are forms of decentralised or private money. Private money is nothing new. Commercial bank money is created and widely used in the private order of our lives. All bank money is tied to a central bank and is strictly regulated and ĸontrolled. Today, the use of ĸryptocurrency requires full regulation comparable to the risks they already pose or may pose in the future.
Moderator: Mikhail Kolesnik, President of CFO CLUB
The meeting is part of the CFO CLUB UKRAINE club programme.
If you are not a member of the club, you have a “Guest Visit” option. You can use it once. The guest visit is valid only for CFOs. The organisers have the right to refuse to participate, as the number of guest places is limited.
We will be happy to answer your questions.
Call +38 067 192 48 67, Svitlana Vikarenko