Cryptocurrencies have made their way into the 2021 Davos Agenda with two sessions discussing the various impact of digital currencies on the mainstream economy. Dubbed Resetting Digital Currencies, the first session will be held on Monday, the opening day of the virtual forum discussion, while the second one has been scheduled for Thursday. The global pandemic has accelerated the long-term shift from cash. Meanwhile, central bank digital currencies are emerging, potentially transforming how people use money worldwide,” the prospectus for both the sessions read.
Bank of England Governor Andrew Bailey will be among the panelists.
The topic for discussion also includes, “What policies, practices, and partnerships are needed to leverage the opportunities posed by the rise of digital currencies?” The speakers’ panel on the topic drew the most attention as the first session listed the name of Bank of England Governor Andrew Bailey and Western Union’s president and CEO, Hikmet Ersek, among others. The prominent names for the second Davos session include Singaporean Minister Tharman Shanmugaratnam.
The ongoing pandemic has pushed the five-day conference to virtual platforms this year.
The annual Davos forum is seen as one of the most prestigious business forums that attract entrepreneurs and politicians alike. Usually happening in the Switzerland town of Davos, the ongoing global pandemic has pushed the five-day conference to virtual platforms this year. Cryptocurrencies and the overall blockchain technologies found mentions earlier in the Davos sessions as well. However, with a couple of separate sessions this year, the discussions are expected to be more comprehensive. According to the prospects, the discussion will revolve around CBDCs, as most central banks around the world are actively researching digital currencies. Bitcoin might also receive significant discussion time with the recent rally it witnessed.
