Central Bank Digital Currencies (CBDCs) and Policy Implications: A Foundational Training Course

Introduction

The concept of Central Bank Digital Currencies (CBDCs) has moved from theoretical discussion to a global priority for central banks, governments, and financial institutions. This training course offers a comprehensive and forward-looking exploration of CBDCs, delving into the core motivations behind their development, their potential designs, and the profound policy implications they present. Participants will gain a robust understanding of the technological, economic, and legal considerations that are shaping this financial innovation and its future role in the monetary system.

This program goes beyond the technical aspects to address the strategic and policy challenges posed by CBDCs. We will examine their potential impact on monetary policy implementation, financial stability, and the payments landscape, as well as the critical issues of privacy and cybersecurity. Through an in-depth analysis of global CBDC projects and policy debates, the course equips policymakers and financial professionals with the knowledge to make informed decisions and contribute to the development of a digital currency framework that is safe, efficient, and inclusive.

Target Audience

  • Central bank officials and policymakers
  • Financial regulators and supervisors
  • Commercial bank executives and strategists
  • Government economists and treasury officials
  • Technology and fintech professionals
  • Academics and researchers in finance
  • Legal and compliance professionals
  • International financial institution staff

Duration

5 days

Course Objectives

Upon successful completion of this training, participants will be able to:

  • Explain the core motivations and drivers for CBDC development.
  • Differentiate between various CBDC design models (e.g., retail vs. wholesale).
  • Analyze the potential impacts of CBDCs on monetary policy and financial stability.
  • Discuss the key policy trade-offs related to privacy, security, and financial inclusion.
  • Evaluate the role of CBDCs in the payments ecosystem.
  • Assess the global landscape of CBDC projects and policy debates.

Modules Course Content

Module 1: Introduction to Central Bank Digital Currencies

  • Defining a CBDC and its key characteristics
  • The motivations for issuing a CBDC (e.g., financial inclusion, payment efficiency)
  • Differentiating CBDCs from cryptocurrencies and stablecoins
  • The benefits and risks of CBDC issuance
  • The role of CBDCs in a digital economy

Module 2: CBDC Design and Architecture

  • Retail CBDC vs. wholesale CBDC
  • Account-based vs. token-based systems
  • Direct vs. indirect CBDC models
  • Technological infrastructure and distributed ledger technology
  • The role of intermediaries in a CBDC ecosystem

Module 3: CBDCs and Monetary Policy

  • The impact of CBDCs on the central bank's balance sheet
  • CBDCs and the implementation of interest rate policy
  • The potential for a "digital run" on banks
  • CBDCs as a new tool for monetary transmission
  • The role of CBDCs in managing liquidity

Module 4: Financial Stability and Risk Management

  • The impact of CBDCs on commercial bank funding
  • Strategies for mitigating financial disintermediation
  • The role of a CBDC in a crisis
  • Cybersecurity risks and resilience
  • The central bank as a guarantor of digital value

Module 5: The Payments Ecosystem

  • CBDCs and the future of payments
  • Efficiency gains and cost reductions
  • The role of CBDCs in cross-border payments
  • Interoperability with existing payment systems
  • The competition between CBDCs and private digital currencies

Module 6: Privacy and Data Protection

  • The policy trade-off between privacy and transparency
  • Anonymity vs. traceability
  • The legal and regulatory challenges of data protection
  • Designing a CBDC that respects privacy
  • The role of privacy in public acceptance

Module 7: CBDCs and Financial Inclusion

  • How CBDCs can promote financial inclusion
  • Reaching the "unbanked" population
  • The design features for accessibility
  • The role of the central bank in promoting access
  • CBDCs and the reduction of cash dependency

Module 8: Legal and Regulatory Frameworks

  • The legal status of a CBDC
  • The role of regulation in ensuring stability
  • Anti-money laundering (AML) and counter-terrorist financing (CTF)
  • Cross-border regulatory cooperation
  • The legal implications for contract law

Module 9: Global CBDC Projects and Case Studies

  • Analysis of the e-CNY project
  • The European Central Bank's digital euro
  • The US Federal Reserve's research on a digital dollar
  • The policy debates in different jurisdictions
  • Lessons learned from global pilots and projects

Module 10: The Future of Money

  • CBDCs and the evolution of the monetary system
  • The role of a CBDC in a cashless society
  • The long-term policy implications for global finance
  • The potential for a multi-CBDC world
  • Scenarios for the future of digital currency

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport Pick Up is provided by the institute. Accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

For More Details call: +254-114-087-180

 

Central Bank Digital Currencies (cbdcs) And Policy Implications: A Foundational Training Course in Georgia
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