Kiffmeister’s #Fintech Daily Digest (20230103)

What is money and what is the role of the state in the payments market?

Sveriges Riksbank published an article by Governor Stefan Ingves and his colleagues arguing that the central bank should issue a retail central bank digital currency (#CBDC) within the next few years. They say that an e-krona is necessary to ensure that money issued by the state is still to be widely available to the public, and that future payment systems work well in a global digital world. [Read more at the Riksbank]

Call for expressions of interest in participation in the digital euro scheme Rulebook Development Group

The ECB/Eurosystem is inviting payments/finance experts to express their interest in contributing to the drafting of a rulebook for a digital euro scheme. Applicants will need to be nominated by a relevant European stakeholder association representing key players in the European retail payments market. Candidates will be selected based on their managerial experience in retail payments and the skills required for the role. [Read more at the ECB]

The Bank for International Settlements (BIS) Innovation Singapore Hub is looking for an experienced payments industry professional for the next phase of Project Nexus (its blueprint for instant cross-border payments) and future work on central bank digital currency (CBDC). [Apply at the BIS]

2nd Edition of DC³ Conference – From Cryptocurrencies to Central Bank Digital Currencies (CBDCs)

The International Telecommunication Union (ITU) will hold (virtually) the second edition of its DC3 Conference – From Cryptocurrencies to Central Bank Digital Currencies (CBDCs)​ from January 24 to 27 2023. On January 27 I will be moderating two panels on offline central bank digital currency (CBDC). Also, on January 24, Jacques Francouer and I will be providing an update to our ITU Digital Currency Global Initiative digital currency ontology work. [For more event detail go to the ITU DC3 conference site]

Kiffmeister’s global central bank digital currency monthly monitor

Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So for any of you out there who work for a central bank, ministry of finance or international financial institution who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at chronicles@kiffmeister.com.

The Sovereign Official Digital Association (SODA) is a technology-agnostic firm offering advisory services at the intersection of central banking, digital finance and the web3 industry, aiming to make public digital money a reality. SODA believes institutions in the existing financial ecosystem should have access to the tools and resources they need to move from discussion to action. SODA offers ‘real life’ use cases to help test digital money and drive adoption as central banks and other public institutions explore the future of a more financially inclusive world powered by interoperable blockchain-based networks. SODA would love you to join us on this journey – please get in touch (chris@sodapublicmoney.org).

Satoshi Capital Advisors is a New York-based, global advisory firm that works with central banks, governments, and the private sector to architect, implement, and operate varying initiatives. Satoshi Capital Advisors’ central bank work revolves around CBDC architecture and implementation, providing advisory services from research phase through to growth phase. Utilizing a product-market fit and technology agnostic approach to CBDC architecture and implementation enables Satoshi Capital Advisors to build tailored solutions, bespoke to local financial system nuances. Satoshi Capital Advisors welcomes requests from central bank officials for virtual and in-person CBDC workshops. [Click here for more information]

WhisperCash offers the first fully offline digital currency platform that has the same properties as physical cash. It can perform secure consecutive offline payments without compromising on security, privacy or accessibility. WhisperCash allows direct person to person offline payments without any server infrastructure or internet connectivity. It comes in various form factors including the self-contained credit card-sized “Pro” that sports an eInk screen and capacitive keyboard, and lasts for two weeks between recharges assuming a few transactions per day. [Click here for more information]