Course description
With the invention of new currencies based on technology, particularly blockchain, central banks have been forced to respond with a more stable cryptocurrency. Based on their balance sheets, central banks across the globe are preparing to launch a second-layer currency instrument with its kind of reserve and currency.
Bitcoin’s invention solves the problem of development limitations and the lack of a decentralized currency. But it is highly volatile, unstable, and unregulated. This has caught the interest of many critics and led to the development of central bank currencies by worldwide central banks. However, no one knows how it will be regulated and developed or how unique or similar it will be to Bitcoin.
The recent interest by central banks to develop their digital currency has been influenced by various factors, including:
- The ever-increasing attention to the newly emerging private digital tokens.
- New players into intermediation and the overall payment services.
- Financial sector technological growth.
- A steep decline in the utilization of cash bills.
However, the CBDC is an experimental project in most central banks and aims to study the potential for coming up with and distributing their central bank digital currencies. With these possibilities, the essence and definition of money, legal tender, and the main responsibilities of central banks are challenged with new money policies in place.
Upcoming start dates
Suitability - Who should attend?
Who should attend?
The Central Bank Digital Currency (CBDC) Masterclass: Management, Issuance and Regulatory Frameworks by Rcademy is ideal for managers and executive managers of any banking or financial establishment or any regulatory body:
- Central bank’s executive directors
- Regulators in the financial sector
- C-level employees
- Banks head of departments
- Bank executives
- Innovation teams
- Professionals interested in digital banking
Outcome / Qualification etc.
The participants who will undertake this course by Rcademy will be able to:
- Understand the advantages and issues facing central bank digital currencies implementation; economic and technical perspective
- Apply the knowledge acquired to differentiate between various CBDC plans of implementation worldwide from technical perspectives
- Learn to define various types of CBDC from the guidelines provided by the design
- Understand the needs and conditions that facilitated the planned launch of regulated digital currency
- Understand how emerging technology, especially blockchain, will impact the global monetary, banking, and at large financial systems
- Discover new trends in the worldwide monetary system
- Understand the cooperation between commercial banks and central banks toward achieving digital currency
- Apply the learned knowledge to design, implement, and maintain a central bank digital currency
- Understand how cryptocurrencies and emerging digital currencies are impacting the banking sector
- Discover best practices in the CBDC projects and the research implementation
Training Course Content
The following topics are extensively covered in this course:
Module 1: Central Bank Digital Currencies; Risks and Challenges
- The benefits of having central bank digital currency
- Interoperability challenges
- Technical issues to overcome
- Disadvantages of having central bank digital currency
- A look into commercial banks and CBDC
- Security concerns and privacy issues
- System redesign
- Risk management
- Compliance issues
Module 2: Monetary Policies Perspective
- CBDC’s main features
- Standing reports
- CBDC demand and level of substitution
- Interest rates implication of monetary policy
- The desirability for the right monetary policy
Module 3: CBDC Main Ideas
- Introduction to CBDC
- Governance issues about CBDC
- Design models for CBDC
- Banks disintermediation
- Protocols to be followed in the design
- Designing a new CBDC
Module 4: Stability, Intermediation, and Cross-Border Use
- Financial stability
- Banks business models
- Global dimension and cross-border
- Rollover risks in CBDC
- Role of the central bank
- Financial intermediation
- Financial markets
Module 5:Blockchain and Cryptocurrency
- Decentralized ledgers
- Blockchain and How it affects the financial system
- Blockchain advantages
- Various types of blockchains
- Defining blockchain
- Cryptocurrency
- Investments in the blockchain
Module 6: Worldwide Scenario and Projects
- Digital Euro: France/ECB
- Bahamas: Sand Dollar
- Sweden: E-krona
- The Digital Yuan: China
- Discussing multiple central banks CBDC
- Saudi Arabia/ UAE: Aber
Module 7: CBDC Master Plan
- Financial exclusion
- Why is money important?
- Economic scenario
- Cryptocurrencies and assets
- A cashless society
- Financial challenges
- Issues in the monetary systems
Module 8: CBDC Payment Perspective
- Feasibility and operational challenges
- General purpose CBDC
- Key considerations in the CBDC
- Wholesale-only CBDC
- Taxonomy
Module 9: Emerging Issues
- Retiring gold reserve
- Layered Bitcoin
- Freedom of currency denomination
- A Renaissance of money
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Rcademy
Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...