Digital Currency | 23rd - 24th May 2022 | Hybrid Conference | Kuala Lumpur, Malaysia

OVERVIEW

Central Bank Digital Currencies or simply known as CBDCs are becoming a reality for citizens in some countries. The evolution of traditional monies, to cheques, to credit cards and now easy access online payments really begs the question ‘Is physical cash really necessary moving forward?’ While economists beg to differ, BIS’s survey revealed that 86% of the 65 respondent central banks are working or researching on CBDCs. Love them or hate them, digital currencies are here to stay.

Digital currency might have been a gimmick in 2012-2013 but now CBDCs are gearing up the development to deliver price and financial stability. We could see that $5 billion in e-renminbi transactions have been conducted by China Central Bank and the authorities are expecting to let the world test drive its technological achievement during the Beijing Winter Olympic Games. So, what we are waiting for? The tech-savvy generation will soon dream about money and payments for the metaverse and the world’s central banks are stepping up efforts to prepare the ground for digital cash.