Why Now?
Digital currency and fintech are fundamentally transforming all aspects of financial intermediation including lending, payment services, investments, insurance and financial contracts.
- Advancements in blockchain technology could potentially revolutionize the way financial transactions are conducted globally.
- The adoption of digital currencies and fintech has the potential to reduce costs and increase efficiency in financial services.
- The growth of the fintech industry presents opportunities for innovation, job creation, and economic growth.
- The shift to digital currencies and fintech offers greater financial inclusion and accessibility to underserved populations.
Commissioner for Financial Technologies (Fintech)
Erik Bethel
Fmr U.S. Executive Director, World Bank; Managing Partner, Quad Fund
Commissioner for Financial Technologies (Fintech)
Central bank digital currencies have the potential to revolutionize the way we conduct financial transactions, but their implementation requires careful consideration and analysis. The work of the commission in this domain is critical in ensuring that any rollout of a central bank digital currency is done in a way that maximizes benefits and minimizes risks for all stakeholders.
