On 16 Jun 2020, the European Banking Institute published a new working paper analysing the impact of distributed ledger technologies and blockchain on monetary and payment systems. In particular, the paper considers the policy issues and choices associated with cryptocurrencies, stablecoins and CBDCs (central bank digital currencies).
In this video, Regulation Asia Co-founder Bradley Maclean sits down with one of the paper’s authors, Douglas Arner, Kerry Holdings Professor in Law, University of Hong Kong, to explore the role technology plays in improving the effectiveness of money and payment systems around the world.
Arner explains how Bitcoin, Libra, China’s digital currency project, and Covid-19 have each played a role in catalysing what will be a fundamental reorientation of domestic and international monetary and payment systems.
Douglas Arner is a leading expert on financial regulation, particularly the intersection between law, finance and technology. He is the Kerry Holdings Professor in Law and Director of the Asian Institute of International Financial Law at the University of Hong Kong.