brooking blochchains

On Thursday, February 11, the Center on Regulation and Markets at Brookings hosted Sheila Warren, head of data, blockchain and digital assets and member of the Executive Committee at the World Economic Forum, to talk about blockchain, digital currencies, and other recent developments in digital markets. Sanjay Patnaik, director of the Center on Regulation and Markets at Brookings, moderated the conversation.

Viewers submitted questions to events@brookings.edu or on Twitter using #FutureOfDigitalMarkets.

AGENDA

Discussion

Sheila Warren

Head of Data, Blockchain and Digital Assets, Member of the Executive Committee - World Economic Forum

MODERATOR

Sanjay Patnaik

Director - Center on Regulation and Markets 

Bernard L. Schwartz Chair in Economic Policy Development 

Fellow - Economic Studies

sanjay_patnaik

Twitter

Join the conversation on Twitter using #FutureOfDigitalMarkets

interviewee also lives in san fran

if i bought you coffee we might elect payemt app of choice - my bank would tell you to debit from me to credit you - that involve 3 intermediary institutions- blockchain removes all 3 intermediaries- in this case a distributed network - all at same time reduce sheila's account abd credit sanjays; yu are substituting trust in banks distributed ledger to network of computers

makes transcations efficient, borderless , transcation record is public 

this week trending issues on bitcoin

-a digital curency recorded on a blockchiIN -INSTITUTINS BNOW BUYING AN INVESTMENT- MERCHANTS USNG BITCOIN TOO

BLOCKCHAIN

THE NETWORK

COIN

TESLA 1.5BVN INVESTMENT IN BITCOIN

MASTERCARD WILL ACCEPPT BITCOIN

MUSK STORY- WHAT WOILL SCD SAY ABOUT THIS -WATCH!

NOT THAT SURPRISING COMPABIES, UNI ENDOWMEMNTS INVESTING IN CRYPTOCOINS- NOT SURPRISEWEALTHY PEOPLE INVESTED N IT

MASTERCARD STORY - INDICATIVE SEEING BTCOIH AS FORM OF PYMENT

CONNECTING BACK END OF DIGIRAL WALLETS

A CENTRALISED LAYER ON DECENTRALISED CURRENCY

INDICATOR ON NEW INSTITUTIONAL OPENNESS

NEXT QUESTION

IMPLICATION EXISTING CURRENCIES/BANKS

CENTRAL BANK DIGTAL CURRENCY= DIGTAL CASH

STABLE COIN EG TEHER RESERVES, USDP EXTRINSIC VALUE

PURE CRYPTO EG BITCOIN NOT PEGGED TO ANYTHGNG

ROOM FOR ALL OF THESE THINGS

key for stable coin - its programable money unlikeregularfat

eg insurance contract if x happens y pays can be progrmmed into code

-programability of money

- these are things fitting different purposes

bitcoin solves doublespend

finncial inclusuon depends n infrastructre onboarding

crypto more stable in hyperinflatin economnies if they can access tech

next question

can these new tech be desiged to end poverty

there's been a lotof activity

ehat are reasons why articulargroups ae unbanked

partlyhow informal/formal economiy is

all that saod lot of actvity is in developing economies

a need that was mre obvious in societies

not huge pain point in developed nations

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growing a generation of crypto natives

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other uses of blockchain

first paper blockchan beyond thehype

supply chains -see toolkit 2020 but quieter now -coalition of suppliers

provenance and traeeability

blockchain emmisionsoffset

who needs to see what/when

blockchain integration with other tech systems

sides to blockchain - marke, regulatory

any rg faiures/successes

mechanisms of how trade

if no inyerneduary who on the hok?

recent issue -you have 6to have you wallet co-hosted

esap china pilots poise to exploise - might move completely to digit yuan;; india has id system so may want to move dfgital currency 

which body best placed common standards?

may early uses case studues around remittancesweform convenes projec in this area

presdio princilies

digita currency conventio at weforum===

potential insurance market - smart contracts 

esg metrics help smal farms beme coo colectives

                                                                                                                                                                         

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