Do we need programmable CBDC?
The growing interest in central bank digital currency and the possible use of smart contracts have led to central banks to consider programmability as a potential feature of digital money. However, there remains a lack of understanding surrounding programmability as well as the potential benefits and risks.
OMFIF’s Digital Monetary Institute and Giesecke+Devrient convene a private roundtable for central banks to explore programmability and retail CBDC. It addresses the need for programmability over alternative solutions, the role of the central bank and the private sector in building CBDC functionalities and the potential design trade-offs and policy implications of programmability.
The session will focus on the follow questions:
- What differentiates programmable payments from programmable money?
- What are the most promising use cases for programmable money?
- Where do we see programmable payments and programmable money in use today?
- Is programmability needed for central banks to foster innovation and competition through CBDC?
- How does programmability affect other design features such as privacy?
- What is the role of the central bank in providing a digital means of payment?
We will hold two sessions of this meeting:
Tuesday, 6 July 2021 at 16:00 (London)/11:00 (New York)
Friday, 9 July 2021 at at 9:00 (London)/16:00 (Singapore)
If you are based in Asia, please join our session on 9 July.
The aim of this meeting is to allow for informal exchanges and a better appreciation of participants’ viewpoints.
The sessions are off-the-record, for representatives from central banks and multilateral organisations only.
12:00-12:00 (New York)
In partnership with:
This virtual discussion is part of the OMFIF Digital Monetary Institute. The OMFIF Digital Monetary Institute creates a high-level college which convenes key policy-makers, technologists, financiers and regulators to explore the challenges, opportunities and implications of digital finance in the 2020s. See more information on OMFIF’s DMI here.