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Central Bank Digital Currency?

Christine Largarde, Managing Director of the IMF, introduced the concept of a Central Bank Digital Currency, in a speech at the Singapore FinTech Festival. In her speech she referenced the IMF Staff Discussion Note, “Casting Light on Central Bank Digital Currencies”.

https://www.imf.org/en/News/Articles/2018/11/13/sp111418-winds-of-change-the-case-for-new-digital-currency

Both the speech (6 pages) and the paper (37 pages) are good reads. Both conclude that challenges remain and “further analysis of technological feasibility and operational costs” is needed. Among a number of concerns Director Largarde has is privacy, which she explains with beer and frozen pizza! Both the speech and paper refer to AML and CTF controls, also.

Director Largarde also compared the FinTech sector to the “Fearless Girl” statue which stares down the Wall Street Bull statute … an interesting visual comparison!