Geopolitical shifts, unprecedented fiscal and monetary policy measures as well as technological innovation create great challenges and opportunities for the future of money.
The world is becoming increasing apolar, to an extent that may arguably call into question the existing financial order, including the role of the US dollar as the global reserve currency.
This is compounded by the uncertainty related to the impact of unprecedented fiscal and monetary policy measures, resulting in asset price inflation and financial repression.
Technology, such as the blockchain, can empower private money and central bank digital currencies alike. Instead of anonymity, as for bitcoin, it may result in full traceability and control. Unlike cash, central bank digital currencies may carry negative interest rates, and any other conditions that monetary authorities may wish to impose.
The presentation will show that it is essential to separate the consideration of technology and its impact from the discussion of money governance. Technology offers novel possibilities to replace the surprisingly inefficient global payments and financial market infrastructure. Money governance, however, is anything but new. It has been already thoroughly debated in the history of economic thought.
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Speaker
Dr. Giuseppe Ballocchi CFA
Dr. Giuseppe Ballocchi CFA is passionate about bridging the gap between the theory and the practice of finance with a pragmatic, multi-disciplinary approach and a keen interest in digital currencies. He is a partner at Alpha Governance Partners. Dr. Ballocchi serves on the Board of Agave Advisors, Reserve Currency Solutions and of the REGMIFA fund. He is a member of the Future of Finance Content Council of CFA Institute and of the IFRS Foundation Advisory Council. He is an Adjunct Professor and member of the Steering Committee for the Master in Finance at the University of Lausanne. He served on the Board of Governors of CFA Institute, where he chaired the Audit and Risk Committee; he also was President of CFA Switzerland. Dr. Ballocchi was head of financial engineering and risk analytics at Pictet & Cie, chief investment officer at Olsen Ltd, a fixed-income manager at the Asian Development Bank in Manila and a high-energy physicist at CERN. He holds a laurea (MS) in physics from the University of Bologna (Italy), an MBA from the Open University (United Kingdom), and a PhD in high-energy physics from the University of Rochester (United States). He is the author of more than 50 academic publications in physics and finance, including a reading for the CFA curriculum. He is currently writing a book on Pitfalls in Wealth Management