The Future of Money: Pix, Cryptocurrencies and the Digitalization in Finance

ITS holds an event in partnership with the Brazilian Internet Association (Abranet)

published in

29 de March de 2022


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The financial industry has seen the digital transformation process speed up in recent years. The number of startups and fintech enterprises in the venture industry has multiplied exponentially, and many have reached the status of “unicorns” (that is, companies with an estimated market value of over $1 billion). But where is finance going amid such accelerated leaps in innovation?

The Pix instant payment system, digital wallets, cryptocurrencies, and several other innovative technologies have become part of the way we deal with money. Central banks have started issuing their own digital currencies (Central Bank Digital Currency, CBDC) and looking into their operational and technological aspects. CBDCs are expected to improve the efficiency of the retail payments market and promote competition and financial inclusion in the years to come.

To understand the phenomenon in-depth, it is paramount to adopt a macroeconomic and international perspective on the topic, so as to distinguish the buzz from the real deal. However, in a digital, globalized world, while some technologies are easy to implement and fit into existing regulatory frameworks, others will require new, bolder changes and regulations.

To broaden the debate about the future of finance that has followed the digitalization of currencies and the technological advances that have transformed financial services in recent years, from the perspectives of Brazil and the World Economic Forum, we invited Gustavo Franco, an economist and former president of the Central Bank of Brazil, and Drew Propson, the head of Technology and Innovation in Financial Services at the World Economic Forum, to participate in a debate moderated by Ronaldo Lemos, a lawyer, technology expert and Chief Scientific Officer of ITS.


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