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Central Bank Digital Currency (CBDC) John C.H. Kim (Partner, Norton Rose Fulbright)

Central Bank Digital Currency (CBDC) John C.H. Kim (Partner, Norton Rose Fulbright). AKA Digital Fiat Currency or Digital Base Money Digital form of fiat money established as currency by government regulation or law  legal tender

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Central Bank Digital Currency (CBDC) John C.H. Kim (Partner, Norton Rose Fulbright)

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  1. Central Bank Digital Currency (CBDC)John C.H. Kim (Partner, Norton Rose Fulbright)

  2. AKA Digital Fiat Currency or Digital Base Money • Digital form of fiat money established as currency by government regulation or law  legal tender • Cryptographically secured digital bearer notes issued by central banking authorities (usually…)  liability of the central bank • Can be stored, transmitted and ownership transferred through digital payment systems, services and platforms • Medium of exchange, unit of account, store of value/wealth • Digital “retail money” What are CBDCs?

  3. IMF, World Bank, BIS surveys and studies • Pilots: Sweden, China, South Africa, Turkey, Ukraine, Uruguay, Eastern Caribbean Currency Union… • Studying: 60+ central banks, including Bank of England, Bank of Canada, MAS, et al. … but not the US Fed? • Why CBDCs...? Falling use of cash, increased convenience, contestability of payments market, financial inclusion, increase efficiency and reduce costs, enhance financial integrity What are CBDCs REALLY?- The Big Picture Part I

  4. China, Libra and the Carney Carnage at Jackson Hole What are CBDCs REALLY?- The Big Picture Part II

  5. [NZIA SAND DOLLAR DIAGRAM] The Small Picture -NZIA Sand Dollar

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