Kamlesh Nagware’s Post

Tokenized Money through Smart Contracts 2023 🟪 Here are some interesting findings: 1. Stable coins (USDT, USDC etc.) settled over $7 trillion in transactions in 2022, highlighting their growing role as a gateway between traditional #money and #DigitalAssets. 2. 90% of #CentralBanks globally are exploring central bank digital currencies (#CBDC). 16% consider it likely they will have a wholesale CBDC within 3 years, while 18% could have a #retail CBDC in that timeframe. 3. The paper proposes a model for interoperability between CBDCs, fractionally-backed #tokenized deposits issued by commercial #banks, and fully-backed stable coins issued by #fintechs. This allows different forms of tokenized money to co-exist and preserve choice for consumers. 4. The model leverages smart contracts for automated convertibility between the different tokens. A Converter Smart Contract acts as the lynchpin, pulling reserves from commercial banks as needed to enable fully-backed stable coins.

What are CBDCs? Imagine your country's currency, but digital! Central banks around the world are exploring CBDCs, a digital form of their fiat currency. Why CBDCs? Faster, Cheaper Payments: Transactions could be instant and potentially cheaper, boosting the economy. Financial Inclusion: CBDCs could reach unbanked populations, promoting financial access. Greater Control: Central banks could potentially manage interest rates and money supply more effectively. What's the catch? Privacy Concerns: How anonymous will CBDC transactions be? Security Risks: Digital currencies are vulnerable to cyberattacks. Impact on Banks and Businesses: How will CBDCs affect traditional financial systems? What are your thoughts on CBDCs? Let us know in the comments! #CBDC #DigitalCurrency #FutureofFinance

Tokenization is all about driving efficiency, and this one can be a game-changer as the heart of the financial system! Even small improvements in payment volumes—measured in trillions—can create a massive impact. Big up to our incredible CBDC team for leading the way! 🚀 #Tokenization #CBDC #FutureOfFinance"

Simplify interbank settlements with wholesale CBDC 🙌 By turning central bank reserves into a digital token, wholesale CBDC can be used more efficiently as a central bank settlement asset within the financial system. This results in clear efficiency gains for interbank payments, cross-border transactions, and the settlement of tokenized securities. Many countries are already testing how wholesale CBDCs could make the process faster and more secure – so it's only a matter of time before we see tokenized deposits and real assets based on multi-chain systems in the future. 🗣️We recently discussed this exciting topic in our latest Digital Currency Forum Webinar, shedding light on current projects and pressing questions. If you want to learn more about G+D approach to wholesale CBDC, click here: https://di-ri.co/vviOb #CurrencyTechnology #CBDC #Tokenization #WholesaleCBDC Dr. Abbas Albasha

#blockchain | #cbdc | #tokenization : The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have announced their collaboration relating to wholesale central bank digital currency (CBDC). The BDF and the HKMA have been maintaining a close partnership in promoting financial #innovation. The latest collaboration is the HKMA’s participation in Wave 2 of the European Central Bank (ECB)’s Eurosystem exploratory work, marking an important milestone as a major central banking institution outside the Eurosystem participating in the initiative. The two central banking institutions recently entered into a Memorandum of Understanding (MoU), which signified a step forward in bilateral cooperation to foster innovation in wholesale CBDC and tokenisation market.

We took on the challenge of exploring the path to a future #CBDC ecosystem - and here are the results... 🙌 ... in the form of our collaborative report with OMFIF, "Unlocking the Potential of a CBDC Ecosystem". Just published, this paper not only looks at the intricacies of central bank digital currencies, but also aims to serve as a compass for the evolving digital finance landscape. 🔍 Key Insights: 🔹 Collaborative Core: CBDC ecosystems thrive on a collaborative core of central banks and private sector innovators. 🔹 Multifaceted Benefits: Industrial sectors, businesses, and individual users will significantly gain from the comprehensive CBDC ecosystem. 🔹 Interoperability & Education: Ensuring seamless integration with existing systems and educating stakeholders are paramount. Curious to learn how to unlock the potential of CBDCs? Find our report here: https://lnkd.in/d-CDcAEA #DigitalCurrency #Innovation #Finance #DigitalTransformation #FutureOfPayments

🔥 Unraveling the Top 10 Central Bank Digital Currency (#CBDC) Myths! Get ready to dive deep into the future of finance and explore the potential impacts on privacy! 💰 #CBDC #FinanceEvolution #PrivacyMatters 📚 Educate yourself: Central Bank Digital Currencies (#CBDCs) are revolutionizing the financial landscape, but are they a boon or a bane for privacy? Let's debunk the myths! 🌐💡 #FinanceInnovation #PrivacyDebate #EducationalInsights 💼 Explore the Two Facets of CBDC: 1️⃣ Wholesale CBDCs: Transforming interbank transactions and reshaping the financial ecosystem! 2️⃣ Retail CBDCs: A game-changer for public transactions and everyday finance! 💳🌍 🌐 Discover the Future of Finance with Cryptos Consultancy! Your Trusted Partner for Securing Virtual Assets and Acquiring #Crypto #VARA #License in #Dubai! 🚀💼 #CBDCExplained #FutureOfFinance #InnovativeTransactions #VARALicense #DubaiFinanceHub

📊 Embracing Diversity, Advancing Together: 2023 #BIS Survey on CBDCs and Crypto 🌐💰 The recent BIS survey (attached herewith) reveals that 94% of central banks are actively exploring central bank digital currencies (CBDCs). 🚀 This year saw significant growth in experiments and pilots, particularly with wholesale CBDCs, which are gaining more traction compared to retail CBDCs. 📈 Key Insights: Wholesale CBDCs on the Rise: 94% of central banks are engaged in CBDC work. Over 50% of central banks are conducting proofs of concept. 31% are running pilots. 22% expect to issue a wholesale CBDC within the next 4-6 years, up from 17% last year. 📊 Diverse Approaches: 68% of advanced economies (AEs) are in the proof of concept stage for retail CBDCs, up from 60% last year. 82% of AEs and 29% of emerging market and developing economies (EMDEs) are in the proof of concept stage for retail CBDCs. 🌍 Retail #CBDC Features: More than two-thirds (68%) are considering holding limits. 75% are looking at domestic interoperability. 68% of AEs and 69% of EMDEs are exploring offline payment options. 🏪🛒 Crypto and Stablecoins: At the end of May 2024, the total market cap of crypto assets was $2.7 trillion, with stablecoins making up 6% ($161 billion). Approximately 63% of jurisdictions have accelerated their CBDC work due to stablecoins. Two-thirds of responding jurisdictions are developing regulatory frameworks for stablecoins and other cryptoassets. 🛡️ Central banks are taking a varied and collaborative approach to ensure financial stability and foster innovation in the evolving digital landscape. 🌟 🌐💡 #CBDC #DigitalCurrency #Crypto #Finance #Innovation #FinancialStability

In a recent exclusive Digital Bank Workshop hosted by 4IRE, our Managing Partner, Olena Petrashchuk, spoke about the distinctions between digital and crypto banks. 🏦Her presentation covered the diverse types of cryptobanks and shed light on emerging trends in the markets, future of superapps and more. Missed the event? Catch the highlights in the video featuring expert insights: 👉 https://lnkd.in/ePg3R5Ny 💬We encourage you to join the conversation by sharing your thoughts in the comments below. #cryptobanking #digitalbanking #cryptobanks #cryptoinnovation #fintech #defi #superapps #financialinsights

Excited to be part of the Digital Euro Conference in Frankfurt today, where we'll be delving into the intricate realm of Central Bank Digital Currencies (CBDCs). Throughout the day, we'll be examining the multifaceted impact of CBDCs alongside stablecoins and tokenized commercial bank money on both the economy and society. It's crucial to grasp not only the technological nuances but also the regulatory landscape surrounding these innovations to make informed decisions for our organizations. One aspect I find particularly fascinating is the paradox inherent in CBDC technology. On one hand, CBDCs offer unparalleled potential for financial inclusion, efficiency, and transparency. Yet, on the other hand, there are legitimate concerns regarding privacy, security, and the destabilizing effects on traditional banking systems. Understanding and navigating this paradox is essential for any organization looking to harness the benefits of CBDCs while mitigating potential risks. Looking forward to engaging discussions and networking opportunities throughout the day! #DigitalEuroAssociation #DigitalEuro #ECB #CentralBank #CBDC #Currency #Frankfurt #Stablecoin