The Rising Role of Cryptography & Digital Currency in European Banking’s Future

Preparing European Banks for a Connected Digital Future Episode 2 Digital currencies have the potential to upend how banks work. Facebook’s Libra caused a shakeup in the global banking industry, driving central banks to take a more in-depth look at issuing their own Central Bank Digital Currencies (CBDCs), which could disintermediate the banks. Some European banks have banded together to create their own blockchains that allow encrypted data on anything, from money to medical records, to be shared between many companies, people and institutions. Quantum will disrupt all our current security, but quantum cryptography may be the new solution. Regulators are looking at these developments with both concern and intrigue. Their concern is rooted in the difficulties of regulatory processes keeping up with the frantic speed of technology and with global developments impinging on national/local jurisdictions. On the other hand, these technologies can help to level the playing field for European companies. They may also help in B2B payments, which is attractive to banks and merchants alike. Additionally, Stablecoins may provide alternative ways for banks to issue digital currencies they control themselves. How can trade finance, crypto and digital currencies help contribute to a stronger European banking system? Join this webinar as Worldline's Michael Salmony, Executive Advisor for Payments Innovation Strategy at Worldline, as he is joined by a panel of experts to explore: - What Central Bank Digital Currencies means for the global monetary system - The risks and opportunities of crypto- technologies - How banks and regulators can work together to use new technologies effectively - The effect Stablecoins may have on B2B payments and trade finance