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Cashless: Is Digital Currency the Future of Finance? With Darrell Duffie

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Manage episode 412974893 series 3550256
コンテンツは Stanford GSB によって提供されます。エピソード、グラフィック、ポッドキャストの説明を含むすべてのポッドキャスト コンテンツは、Stanford GSB またはそのポッドキャスト プラットフォーム パートナーによって直接アップロードされ、提供されます。誰かがあなたの著作物をあなたの許可なく使用していると思われる場合は、ここで概説されているプロセスに従うことができますhttps://ja.player.fm/legal

Digital currency — whether privately-developed or government-issued — seems like an inevitability to Stanford Graduate School of Business finance professor Darrell Duffie. “Virtually all countries are exploring a central bank digital currency for potential use,” he says.

An expert on banking, financial market infrastructure, and fintech payments, Duffie is interested in how central bank digital currencies (CBDC) could revolutionize economies around the world. The shift to a digital version of a fiat currency, still backed by a country’s central bank, could offer significant benefits compared to the current financial system. These include improved financial inclusion, lower cross-border payment costs, and more timely and secure transaction processing.

The key, Duffie says, is striking the right regulatory balance to foster innovation while mitigating risks. As this episode of If/Then explores, if the U.S. wants to future-proof banking, then a digital dollar could be a solution.

Key Takeaways:

  • The benefits of central bank digital currencies: As digital versions of a country's fiat currency, backed by its central bank, CBDCs could provide advantages over the current financial system. These include improved financial inclusion, lower cross-border payment costs, and more timely and secure transaction processing.

  • Challenges could be ahead: Duffie sees two major impediments — privacy concerns and the potential impact on the U.S. dollar's global dominance.

  • The U.S. dollar's reserve currency status is secure for now: China's development of a "digital renminbi" raises questions about the dollar's dominance. Even so, Duffie believes the U.S. currency will maintain its position as the world's reserve currency for decades to come.

  • Regulation will be crucial: Duffie says the U.S. lags behind other countries in establishing clear rules for cryptocurrencies and digital assets. Finding the right regulatory balance is critical if we’re going to foster innovation while mitigating risks.

More Resources:

Darrell Duffie, The Adams Distinguished Professor of Management and Professor of Finance.

Capitol Gains: GSB Professors Share Their Expertise in DC and Beyond

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

  continue reading

13 つのエピソード

Artwork
iconシェア
 
Manage episode 412974893 series 3550256
コンテンツは Stanford GSB によって提供されます。エピソード、グラフィック、ポッドキャストの説明を含むすべてのポッドキャスト コンテンツは、Stanford GSB またはそのポッドキャスト プラットフォーム パートナーによって直接アップロードされ、提供されます。誰かがあなたの著作物をあなたの許可なく使用していると思われる場合は、ここで概説されているプロセスに従うことができますhttps://ja.player.fm/legal

Digital currency — whether privately-developed or government-issued — seems like an inevitability to Stanford Graduate School of Business finance professor Darrell Duffie. “Virtually all countries are exploring a central bank digital currency for potential use,” he says.

An expert on banking, financial market infrastructure, and fintech payments, Duffie is interested in how central bank digital currencies (CBDC) could revolutionize economies around the world. The shift to a digital version of a fiat currency, still backed by a country’s central bank, could offer significant benefits compared to the current financial system. These include improved financial inclusion, lower cross-border payment costs, and more timely and secure transaction processing.

The key, Duffie says, is striking the right regulatory balance to foster innovation while mitigating risks. As this episode of If/Then explores, if the U.S. wants to future-proof banking, then a digital dollar could be a solution.

Key Takeaways:

  • The benefits of central bank digital currencies: As digital versions of a country's fiat currency, backed by its central bank, CBDCs could provide advantages over the current financial system. These include improved financial inclusion, lower cross-border payment costs, and more timely and secure transaction processing.

  • Challenges could be ahead: Duffie sees two major impediments — privacy concerns and the potential impact on the U.S. dollar's global dominance.

  • The U.S. dollar's reserve currency status is secure for now: China's development of a "digital renminbi" raises questions about the dollar's dominance. Even so, Duffie believes the U.S. currency will maintain its position as the world's reserve currency for decades to come.

  • Regulation will be crucial: Duffie says the U.S. lags behind other countries in establishing clear rules for cryptocurrencies and digital assets. Finding the right regulatory balance is critical if we’re going to foster innovation while mitigating risks.

More Resources:

Darrell Duffie, The Adams Distinguished Professor of Management and Professor of Finance.

Capitol Gains: GSB Professors Share Their Expertise in DC and Beyond

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

  continue reading

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