Central Bank Digital Currencies, Payments and Blockchain

Elevandi's Point Zero Forum in Zurich last week was superb. Some key thematics I took from this were that:

1. The drivers for blockchain adoption are clearly seen and understood by incumbent financial institutions, regulators and State actors - the trend is very much toward greater blockchain adoption.
2. There is a debate emerging around whether private or public blockchains are preferable (without defining the latter, I should add).
3. Frustration with the existing blockchain infrastructure offerings has both forced the consideration of and opened the door to a blockchain future owned and operated by traditional financial infrastructure providers that runs counter to the vision that blockchain once offered - a public , open blockchain resource that nobody controls, nobody owns that in turn facilitates the transition to a digital economy in which everyone can participate.
4. The emergence of CBDC's is a rapidly evolving technological, regulatory, economic and political issue that deserves much greater attention.

The quality of discussion was generally very good and the participants senior people that were well informed and open. There were some points of alarm - a large contingent representing a nascent financial market central counterparty infrastructure provider pretending to be a blockchain tops my list - but on the whole, it was extremely positive.

Here the team from QPQ discuss these issues in long form.