#24 Untangling: CBDCs with John Velissarios (part 1)

In this week's episode hosts Alec Burns and Jack Davies are joined by John Velissarios, a seasoned expert in digital finance, to unpack the potential of CBDCs (central bank digital currencies).

John reflects on his journey from software development to becoming a specialist in cryptography and information security. He outlines CBDCs as innovative central bank-issued money designed for everyday transactions and international payments.

John argues that CBDCs can fill critical voids in the current financial system, aiding those without bank accounts and streamlining social benefits delivery. He also notes their power to transform international payments by bypassing middlemen for quicker, direct transfers. The conversation delves into the technical and sovereignty issues surrounding CBDCs, the significance of their interoperability, and the unique advantages they bring to cross-border payments without requiring intermediaries.

The episode also addresses the risks and challenges of CBDCs, such as privacy and financial control, while considering how they might reshape global economic influence, citing China’s Belt and Road initiative. It concludes with insights into central bank strategies like those of the Bank of England, signaling a thoughtful approach to introducing CBDCs. As always, Alec and Jack aim to clarify these complex topics, leaving listeners better informed and eagerly anticipating more web three insights.

Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at [email protected].

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The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.