From Cashless to Tokenized Economy
“Money itself is changing…. In ten, twenty, thirty years, who will still be exchanging pieces of paper?” IMF chief Christine Lagarde said in a speech in November 2019 at Singapore Fintech Festival.
Stablecoins have been a “hot” topic for the past year, even before Facebook introduced its own stablecoin, Libra, in June 2019. The introduction of Libra has stirred up things and accelerated policy makers and regulators involvement globally. Suddenly, central banks around the globe – from China to the ECB to the US Fed – are feeling the urgency to develop a Central Bank Digital Currency (CBDC) to protect the status of their national currency and the national sovereignty.
We are moving (slowly but surely) to a tokenized economy. A 2015 survey by the World Economic Forum (WEF) predicted that 10% of global GDP would be stored on blockchain technology by 2027. Based on 2018 GDP, this amounted to $8.5 trillion and if we account for GDP growth by 2027, this figure would be close to $24 trillion.
The future of a fully digitized-tokenized economy is more real than we allow ourselves to imagine. In this course, we take a dive into understanding the different types and uses of tokens, including stablecoins and CBDC – how they are used today, what pilot projects are in progress, and what the future holds for our global economy.
By the end of the course, the participant will be able to:
- Explain the different types of tokens and any related valuation issues
- Analyze the different mechanisms of stablecoins
- Explain how stablecoins are used
- Describe what Central Bank Digital Currency (CBDC) is and discuss the current and future global landscape
- Expound what tokenization is
- Discuss the different uses and applications of tokenization
- Assess whether a business or an asset is a good candidate for tokenization, including – benefit analysis and valuation
- Assess where and how to tokenize an asset or a business
Describe and discuss the global regulatory landscape as it applies to different types of digital assets (i.e., tokens), stablecoins and tokenization
Program Level: Foundational
Field of Study: Specialized Knowledge
Advance Preparation: None
Computers and Financial Calculators: N/A
Recommended CPE Credits: 7
Duration: 1 day