Second workshop: “Digital currencies, digital credit and their consequences for regulation and central banking”
Date: January 24, 2019
Location: National Institute of Economic and Social Research, 2 Dean Trench Street, London
Brief description: The latest wave of innovation in financial technology has raised concerns that financial stability might be jeopardized by induced pro-cyclical dynamics, synchronized flows on Fintech lending platforms and systemic importance of some Fintech entities. At the same time, it is argued that decentralization and diversification of financial activities could rather promote macroeconomic and financial stability. How to evaluate these positions? The workshop will particularly take account of Fintech and credit, P2P lending, the potential for intermediation shifting out of the banking system and its interest in market making for credit as well as digital currency. The consequences for regulation, central banking and financial architecture will be discussed.
9 – 9.30 Introduction: Putting FinTech and digital currencies in historical perspective (Are there any parallels with past episodes of financial innovation?)
9.30 – 11 Session 1: Financial innovations, financial stability and regulation (Are new FinTech business models stable and sustainable? Could FinTech undermine supposedly safe incumbents, e.g. ring-fenced banks? This concern has been aired by the Financial Stability Board and other regulators.)
Speaker: Dan Awrey, University of Oxford
Discussant (Law): Rosa Lastra, Queen Mary University of London
11.00 – 11.30 Coffee break
11.30 – 13.00 Session 2: Using Fintech to develop a safer and more transparent financial architecture
Speaker: Alistair Milne, University of Loughborough
Discussant (computer science): Fabio Caccioli, UCL
13.00 – 14.00 Lunch break
14.00 – 15.30 Session 3: Digital currencies and their consequences for central banking (How this new form of money should co-exist and interact with existing forms of money? How have central banks reacted so far? How does our understanding of what money is changes?)
Speaker: Michael Kumhof, Bank of England
Speaker: Ole Bjerg, Copenhagen Business School
Discussant (anthropologist/CoinDesk): Annaliese Milano, London School of Economics
15.30 – 16.30 Coffee break
16.30 – 17.30 Summary / Brainstorming on the promising research perspective
If you would like to attend, please email email@example.com to register a place.
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09 August 2018