LES MATINALES
The Future of Money - How the Digital Revolution Is Transforming Currencies and Finance
Mercredi 15 décembre 2021, 9h00-10h30

Séance présidée par Christophe Destais, Directeur adjoint du CEPII

Intervenants

  • Eswar S Prasad, Tolani Senior Professor of Trade Policy at Cornell University

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Eswar Prasad will be presenting his new book "The Future of Money" which explains that the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and citizens. Prasad foresees that the adoption by central banks, spurred by the emergence of cryptocurrencies, of their own more stable digital currencies will result in the end of cash. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations join the game. The changes will be accompanied by snowballing innovations, such as decentralized finance or DeFi, that are reshaping finance and have already begun to revolutionize how people invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. The Future of Money reflects on how to maximize the best and guard against the worst of what is to come.

 

 

The presentation will be held in English and the Questions/Answers session in French and English.