Inaugural Digital Currency Conference

The Digital Currency Conference (DCC) took place in person immediately after the Banknote & Currency Conference in February.

Although CBDCs took centre stage, all digital currencies were included in the programme, starting with the fact that although it cost $6.5 million for a 30 second advertisement in the Superbowl breaks, the bitcoin exchange advertisers more than recouped their investment. On the other hand, $4.5 billion is reported to have been laundered in bitcoin in New York.

The agenda raced through a wide range of topics, including:

• Quantum computing – not there yet but real potential. Will probably get there this decade. Part of the constant race to get ahead to make things secure.

• Achieving privacy and risk and security with CBDCs – all seven launched CBDCs have adopted a two-tier approach, ie. commercial parties handle the distribution and circulation of CBDCs, including taking responsibility for regulatory compliance associated with Know Your Customer legislation etc.