Improving efficiencies, reducing risk, and enhancing equal access to global payments rests on an international monetary system that can combine the fundamentals of traditional finance, with the most innovative developments in blockchain-based finance, writes Yves Longchamp, Managing Director and Head of Research at SEBA Bank
In its recent Annual Economic Report, the Bank for International Settlements (BIS) proposed that the blueprint for the future international monetary system consists of a hybrid crypto-fiat model, one centered upon “improving the old, enabling the new.” Key to this are Central Bank Digital Currencies (CBDCs). With recent major developments in crypto taking place, from PayPal issuing its stablecoin to the launch of Sam Altman’s Worldcoin, real world asset tokenization is transforming asset ownership and enabling seamless borderless transactions to ‘enable the new’.
The report therefore comes at an appropriate time to consider what a world of blockchain-based finance might look like, and how those utilizing this technology are poised to improve access to international payments and iron out the inefficiencies in the international monetary system.
The Blueprint: A Unified Ledger
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