OMFIF Digital Monetary Institute

A digital ledger – a ‘golden record’ of shared value – is both a new and an old idea. The 20,000-year-old Ishango Bone was most likely an early effort to track ownership and would have relied on trust. The traditional finance system similarly relies on a centralised keeper of trust. But distributed ledgers are starting to disrupt that system, allowing financial records to be updated instantly and accessed by participants simultaneously. ?? Our latest DMI Journal takes a look at the fast-moving discussion about embedding a blockchain at the heart of the global financial system, rather than a parallel tokenised universe evolving and gradually synchronising with or co-opting traditional finance, or convening around wholesale central bank digital cash. ?? Download journal: https://lnkd.in/d94Fey3u ?? Thank you to our contributors and partners: Lewis McLellan, Editor, Digital Monetary Institute Ulrich Bindseil, European Central Bank, and Omid Malekan, Columbia Business School Hester Peirce, U.S. Securities and Exchange Commission Dom T. Ghazan, Global Trade Finance Daniel Nagy, Giesecke+Devrient Frank Tam and Richard Tang, iASPEC Software Co., Ltd. Valentina Ion, Microsoft Andrew Gallucci, Circle Cristiano Ventricelli, Moody's Investors Service Glendy Kam, Tassat Imran Bashir and Basak Toprak, Kinexys by J.P. Morgan Nick Kerigan and Jack Pouderoyen, Swift Piotr Romaniuk, Worldline Katie-Ann Wilson Folusho Olutosin Meriem A. Max Steadman #blockchain #dmijournal #centralbanks #FinTech #distributedledger #digitalledger #financialrecordkeeping #finance #digitalmonetaryinstitute

Public blockchains provide a novel technology for payment and settlement infrastructures that can give rise to a new generation of solutions, write Ulrich Bindseil, director general of market infrastructure and payments, European Central Bank, and Omid Malekan, adjunct professor at Columbia Business School. Download journal to read more: https://lnkd.in/d94Fey3u

'While these projects have undeniable support from some incumbents, the benefits promised by public blockchain are apparently enticing enough to win admirers even in the communities it was designed to shut out', writes Lewis McLellan, editor of OMFIF’s Digital Monetary Institute. Read journal: https://lnkd.in/d94Fey3u

?? Save the date! Join Digital Monetary Institute members on 25 April, for an exclusive roundtable, hosted in partnership with Giesecke+Devrient. This discussion will explore how CBDCs can be a key enabler for central banks in shaping a future of safe, efficient, and inclusive financial innovation. Find out more and register your interest in attending here: https://lnkd.in/eXZATV5D

"Private blockchains have emerged as an attempt to create a less radical version of distributed ledger technology. Permissioned blockchains, which restrict participation to an agreed list, seem to offer an opportunity to enjoy the benefits of blockchain architecture without introducing the challenges that public, permissionless infrastructures entail", writes Lewis McLellan, Editor of the Digital Monetary Institute, OMFIF. Read more: https://lnkd.in/eT2j4wha

This morning, we hosted a roundtable discussion featuring Harry Lund, deputy director of AI opportunities at the UK Department for Science, Innovation and Technology, on the challenges of regulating artificial intelligence in finance and encouraging innovation without compromising security. Key takeaways: ??The UK is looking to steer a middle ground between the US and EU’s approach to AI, believing that good regulation can enhance progress by promoting trust in new technology. ??The UK wants to promote 'sovereign AI' ensuring?that the UK has the infrastructure necessary for AI to thrive. ??Data centres, training data, clean electricity capacity?and a thriving academic community are needed in the UK to ensure cutting edge IP development takes place. ??AI implementation will introduce new risks but the UK government intends to take a sector-led?approach, ensuring that new rules are informed by the needs of practitioners. ?? A special thank you to Simran Singh, Wijitleka Marome, Piyawan Khemthongpradit Bank of Thailand, and Lakshmi Narayanan R Indian High Commission for contributing to the discussion.

Digital Money Summit 2025: New speakers announced!??? Join leaders in government, banking, finance, and tech to drive innovation and shape a secure, inclusive digital financial future. ?? Get your ticket here: https://lnkd.in/efmZR_Wh Those representing public sector organisations or media are welcome to apply for a complimentary ticket. #dms2025 #digitalmoneysummit #omfifevents #digitalfinance #londonevents #mayevents #digitalmoney #FinTech #digitalcurrencies

?? Join our DMI members in London tomorrow, for a discussion on the challenges of regulating #AI in finance, featuring Harry Lund of the UK Department for Science, Innovation and Technology and OMFIF's Chairman Philip Middleton. The roundtable will explore the role of cybersecurity standards in protecting AI systems and ensuring resilience, the need for transparency in AI usage and the implications of AI regulation for the financial sector. Register your interest in attending: https://lnkd.in/dUemsMee

#CBDCs offer an opportunity to reinforce structural foundations, regardless of regional economic context or the level of existing payments infrastructure. Countries like #China and #India already have advanced digital payments systems that surpass those of some more developed nations. Read report for more: https://lnkd.in/eGGE2aNg

Gold’s role in investment has undergone several shifts over the years. The SPDR Gold Shares exchange-traded fund revolutionised gold investing 20 years ago by introducing the first-ever commodity ETF - writes Cici Lu McCalman, Head of Research at Matrixdock. Read more: https://lnkd.in/djy42ZDq