Exploring central bank digital currency: Evaluating challenges & developing international standards
This first-of-its-kind convening of leaders from international financial institutions, central banks, businesses, technology providers, and governments aims to establish an understanding of the issues countries must consider before issuing a CBDC.
The Digital Dollar Project and the Atlantic Council’s GeoEconomics Center are hosting a first-of-its-kind convening of leaders from international financial institutions, central banks, businesses, technology providers, and governments from November 27 to 30, 2023.
Over one hundred countries around the world are now exploring a central bank digital currency (CBDC) and there are approximately two hundred globally distributed stablecoins, many of which are secured by another currency, most commonly the US dollar. There is an urgent need to coordinate across the public and private sectors on the development of these assets. The conference will make progress on the core areas needed for the effective and safe use of central bank digital assets in the years ahead.
CBDCs and dollar-backed stablecoins are increasingly relevant to domestic and international financial infrastructure. However, in the absence of international standards, dozens of different models with varying degrees of safety, privacy, and efficiency are being built worldwide. As the issuer of the world’s reserve currency and “peg” of choice for 98 percent of all stablecoins, the United States should play a key role in international standard-setting regardless of whether the United States eventually issues a CBDC or not.
Join us in Virginia from November 27 to 30 as we bring together the public and private sectors to discuss the next steps for a responsible future for digital currencies.
The full speaker lineup and detailed agenda will be announced in the coming weeks.
Core Conference Themes
The conference will be built around five key themes:
1. Privacy: building digital assets that protect individual’s rights and civil liberties;
2. Cybersecurity and resilience: ensuring a safer financial system for the future;
3. Financial inclusion: fostering healthier economies;
4. Cross-border transferability: exchanging wholesale and retail assets between banks;
5. Competition and innovation: developing central bank assets that are transferable and complement traditional finance and new private digital assets.
Fintech Hub
In this time of unparalleled technological change, there is a growing sense of urgency to understand how emerging technologies might provide privacy-enhancing and secure solutions in the future movement of money.
To meet this demand, the Digital Dollar Project provides a neutral place for private sector actors and thought leaders to explore technical and policy choices and challenges for a tokenized digital dollar across various real-life use cases.
Our upcoming conference, “Exploring Central Bank Digital Currency: Pathways to International Standards” will feature a dedicated Fintech Hub, enabling conference attendees to gain firsthand experiences with the technical infrastructure that is driving the modernization of money today.
The Fintech Hub is a non-commercial learning environment where participating companies will demonstrate how their innovations support one or more key conference themes, including privacy, cybersecurity, financial inclusion, cross-border transferability, and competition and innovation.
If you’re interested in joining the FinTech Hub and want to learn more about the registration process, please fill out the interest form below.
Digital Dollar Project
The Digital Dollar Project identifies options for a CBDC solution to help enhance monetary policy effectiveness and financial stability; provide needed scalability, security, and privacy in retail, wholesale, and international payments; and integrate with existing financial infrastructures, including US Federal Reserve-related projects.
GeoEconomics Center
At the intersection of economics, finance, and foreign policy, the GeoEconomics Center is a translation hub with the goal of helping shape a better global economic future.