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And the innovation gap is not just on CBDCs. FedNow, the long-awaited interbank settlement system, has taken years longer than comparable systems in Europe.
Ananya Kumar, a resident said, “The situation on Sampige Road calls for urgent attention and a plan to address the root causes of the problem. Right now, it’s not just about inconvenience but also about safety for the pedestrians who rely on this pathway. It’s essential to find a lasting solution and ensure that taxpayers’ money is put to good use for a more reliable and safer environment.”
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.
Cryptocurrencies and CBDCs have the potential to enhance financial inclusion. However, the lack of quantitative data makes it challenging to evaluate their impact. To assess their financial inclusion capacity, we need to consider multiple layers and adapt strategies to local needs and policies.
The Transatlantic Forum on GeoEconomics is an annual conference convening economic and financial leaders from both sides of the Atlantic. Register for the upcoming forum in Berlin and explore the highlights of last year's Forum.