#10: The Future of Money: Public Perspectives

28 Apr

9th May 2013

With:

| David Birch (15mb Ltd)

| John Kiff (Satoshi Capital Advisors)

In Session #10, David Birch (Author & Commentator, 15Mb Ltd) and John Kiff (Satoshi Capital Advisors) join FNA to deconstruct the "Future of Money." While central banks focus on the technical plumbing of Retail CBDCs (rCBDCs) and Stablecoins, Birch and Kiff argue that the true battleground is the "Public Perspective." If a digital currency doesn't offer a tangible improvement over existing contactless or mobile payments, why would a citizen use it?

The discussion centers on the "Privacy-Security Paradox." Our guests explore how jurisdictions can design digital money that satisfies regulatory AML requirements without becoming a tool for "Big Brother" surveillance. From the challenge of disintermediation (banks losing deposits to CBDCs) to the promise of financial inclusion for the unbanked, this session provides a candid look at whether the public actually wants a digital version of their national currency.

The Session covered:

The Value Proposition: Identifying the specific use cases—such as programmable "smart money" and instant cross-border transfers—that distinguish CBDCs from current commercial bank digital money.
The "Privacy" Red Line: How to implement "Anonymous-lite" transactions for small amounts to mirror the privacy of physical cash while maintaining security for larger flows.
Disintermediation Risks: Strategies for reaching the "Sweet Spot" of adoption—ensuring the CBDC is useful enough to be adopted, but not so attractive that it triggers a bank run on commercial deposits.
Financial Inclusion vs. Digital Divide: Can a CBDC really help the unbanked, or does it risk further alienating those without smartphones or high-speed internet?
Stablecoins as Competition: Analyzing how private-sector stablecoins are forcing central banks to accelerate their innovation cycles.
The Cross-Border Friction: Why interoperability between different national CBDCs is the "holy grail" for reducing the cost of global remittances.

Watch on Demand:

Listen on: Spotify | Amazon Music