Central Bank Digital Currencies: the Geopolitical Competition to Control the Flow of Money

Central bank digital currencies (CBDCs) are a relatively new form of currencies expected to become widespread in the coming years but not yet well understood. Some aspects that need consideration in the discussion on CBDCs are the security of the money supply, access to the financial system, and the geo-economic power that being a currency issuer gives, as well as the tension between the public and private sector with the rise of cryptocurrencies and new ways to avoid formal institutions.

CBDCs might provide answer to this tension between the private and public sectors, but they also create new security dilemmas. These include the risk of hacking, citizen privacy and the potential breakdown of digital systems in crisis situations. Central banks are also faced with new questions as to how to implement proper anti-money laundering and countering the financing of terrorism regulations within this new technology.

This PizzaSeminar will take place in person at IABG, Friedrichstraße 185, Haus E, 10117 Berlin. The main language of the event is English.

About the speaker:

Rebecca Singer worked the past five months as a student researcher at BIGS. During this time, she finished her thesis for the Masters of Arts in International Trade and Economic Diplomacy and the Masters of Arts in International Policy and Development with a Certification in Financial Crime Management at the Middlebury Institute of International Studies at Monterey.