Why DeFi Matters [Part 3]: CBDCs - opportunity or doom for DeFi? The challenges of building digital institutional trust

Most major economies, including 19 of the G20 nations, are in the end-stage processes of developing Central Bank Digital Currencies (CBDCs). These digital currencies introduce DeFi technology and concepts into the world of central banking with many potential use cases across borders and domestically. CBDCs have opened up all kinds of opportunities for increased efficiencies, cost-savings, programmability and transparency for banks and financial institutions - but the step is clearly one towards further centralization. Added privacy concerns have led to consternation among thought leaders and future consumers. But do CBDCs spell doom for DeFi as a concept, or is it simply another form of implementing decentralized technology in a 'controlled' environment? Will privacy concerns be addressed through future standards? And how can CBDCs support innovation in the private sector that benefits all of fintech? Join Micky Tesfaye and Ian Horne, content leaders at Money2020, for our final discussion on all this and more in the future of DeFi and discover yet again why DeFi matters - to all. Disclaimer: Converge is Convera’s new podcast that discusses a range of financial services topics. We want to remind our listeners that the information shared on this podcast is for informational purposes only and should not be considered financial advice. Please note that the opinions expressed on Converge are solely the opinions of the host and the guests, not Convera’s.