Money as a macro-payment system.
Thanks to the project extension, there is also the fourth edition of EUMOL Winter School on blockchain, money tokens, CBDCs. This edition has a hybrid organization. Some guest speakers give their lectures remotely, while some others could get Siena and meet personally the university and academic community.
The Decentralized Ledger Technology (DLT) has urged the European lawmakers and the International Standard Setters to revise their approach to financial and money regulation. The legal history of money and finance has always been deeply influenced by technological changes. This time DLT-platforms challenge the role of middleman (the commercial banks) who is traditionally in charge of validating the transfers of funds; is this a way of democratizing money and payment systems? To what extent the growth of virtual currencies may make any money-laundering activity easier? In Europe, we’re looking forward to MiCA, a regulation proposal for the crypto-asset market, aimed to cover asset-referenced tokens and e-money tokens providing the payment service users with a new means of exchange.
Moving from private to public crypto-assets, the attention goes to CBDCs. The European Union is working on the “digital euro” project. What does this mean for the commercial banking system, families and enterprises? What will be the relationship between scriptural money and CBDC?
About 2021-2022 Edition: