The financial system will be quicker, smarter and cheaper with CBDCs - Antony Welfare

[Music] I think you know from Rickles inspector this is an amazing time because real projects do real solutions using blockchain patents Technologies happening and we see it you know you've got people here who you know really understand that there is a technology that can be used and there is a future for it thank you so Central Bank issued currency doesn't necessarily mean that the Central Bank wants to Monitor and manage all your transactions what they want to do is improve the financial system and make it quicker smarter cheaper and and more efficient for the people they want to make sure that people in parts of the country with you know no banking system yet branches for example can still do banking like you could in the city so there's lots of really good benefits of a cbdc and I mentioned the fractional payments of things like that settle in Securities immediately you know things like that there's massive benefits what the central banks are looking at and talking that is you know there's a couple of big issues that are sort of challenges to be fixed at the matter one is interoperability so if you have a digital Euro and a digital pound of a different network well it's still not going to work it's still you know so we don't expect them to be on the same platforms because each country is different it's jurisdiction but we still need to do the interoperability in the middle for us that's brilliant because we're a cross-builder company we've spent 10 years building the technology that is cross-border with current systems so we're we're looking forward to sort of helping them show how that can work with cbdc into wild theater or theater crypto any of these different mixes that's going to happen in and around the cbdc's and then you know you've mentioned privacy privacy is very important and the technology can do many different things of privacy from making the transaction completely secure to making it completely open that's the point of blockchain dlts governments are working on what they want and how they want it to work and it will be very different in different countries and and what they need for their people is is the important part so the ECB for example is set very clearly a number of times privacy is their number one um concern and that number one area to look at and that's been since day one to do muscle work and projects so what it looks like in the end I don't know but um but they're definitely they're well aware of it and and it's a very important topic that it will come out through the you know the processes over the next few years [Music]