Objectives of the session
The role of cash is being challenged by digitalisation. Central Banks are trying to propose an attractive modern form of money to citizens and firms, while they seek consolidating their role and sovereignty on monetary policy and trying not endangering financial stability. In this context a group of central banks, together with the Bank for International Settlements, are working together to explore central bank digital currencies (CBDCs) for the public.
Based on the experiments already launched the session is dedicated to clarifying the main use cases identified by Central banks, their specific usefulness factor, whether they will address the need for enabling innovation and how they will interact with existing payment systems and market participants. Adoption plans of CBDCs, and policy priorities will also be discussed.
Questions to be addressed
- What are the main retail CBDC use-cases envisaged by Central Banks and related success factors and policy priorities?
- How would Central banks define what they are currently doing on retail CBDC: experimentation, research, project, etc? What their current timelines and deliverables?
- What are the specific issues raised by retail CBDC? How to integrate retail CBDCs into the existing payment ecosystem – and what are the key trade-offs?