🏦Bank for International Settlements – BIS (A special chapter of the BIS Annual Economic Report 2023)
Blueprint for the future monetary system: improving the old, enabling the new
🔑 Key takeaways:
🔸 Tokenisation of money and assets has potential but lacks access to central bank money #CBDC and trust.
🔸A unified ledger could combine central bank money, tokenised deposits, and assets on a programmable platform.
🔸A unified ledger enables seamless integration, expands economic possibilities, and promotes interoperability.
🔸 Multiple ledgers with specific use cases can coexist and be interconnected through APIs.
🔸A vision for the future monetary system and central banks' role in driving innovation is crucial.
🔸The blueprint proposes a unified ledger integrating CBDCs, tokenised deposits, and other assets.
🔸The unified ledger enables simultaneous and instantaneous #settlement and new contingent contracts.
🔸 The future monetary system's evolution depends on jurisdiction-specific needs and constraints.
🔸 Public-private collaboration is necessary for joint innovation, technological solutions, and oversight.
🔸Cooperation, innovation, and integration can lead to a monetary system that enhances trust and meets evolving demands.