3 - 5 minute read
The Government Blockchain Association (GBA) is hosting a two-day event in Washington, DC, titled “The Future of Money, Governance and the Law.” The event aims to bring together government leaders, regulators, innovators, and business leaders to discuss radical changes in money, cryptocurrency, banks, and central bank digital currencies (CBDCs). The conference, scheduled for May 24-25, 2023, will include keynote addresses and panel discussions on various topics such as traditional versus decentralized finance, customer protection and privacy, and practical advice on cryptocurrency accounting, taxes, and reporting.
According to Gerard Dache, the executive director of GBA, “The Future of Money, Governance and the Law” will provide a platform for experts to share their insights and ideas on this critical topic. The conference is open to everyone, including those curious about cryptocurrency and its implications on the future of money. Attendees will have the opportunity to hear from the industry’s top minds, network with fellow professionals, and gain practical insights into the latest trends and developments in the world of cryptocurrency.
The conference will feature first-hand perspectives from international NGOs, national organizations, state and local governments, academic institutions, and commercial entities. Notable speakers include leaders from the United Nations, European Parliament, Central Banks, US Department of Treasury, Cornell University, Circle, Ciphertrace, a Mastercard company, and many more.
“‘The Future of Money, Governance and the Law’ will bring together government leaders during this decisive time to examine changes in money and the laws governing it. We are very excited to host this conference, which will provide a platform for experts to share their insights and ideas on this critical topic.”
Blockchain technology provides a decentralized and secure method of recording transactions, making it a viable solution for government entities. The GBA, a non-profit organization that supports the use of blockchain technology in government, connects people and organizations with blockchain technology-based solutions to problems typically faced by government entities.
The adoption of CBDCs is becoming increasingly popular among governments worldwide. China is currently leading the race in CBDC adoption, with its digital yuan already in circulation. The United States is also exploring the possibility of issuing a digital dollar, as are other countries such as Japan, Canada, and the United Kingdom.
According to a report by the Bank for International Settlements, over 60 central banks worldwide are exploring CBDCs, and more than 10% are expected to launch a digital currency in the next three years. The adoption of CBDCs could potentially disrupt the traditional financial system, making it a critical topic for discussion among policymakers and industry experts.
Traders should pay close attention to the developments in CBDC adoption as it could potentially impact the cryptocurrency market. The adoption of CBDCs could lead to increased regulation and scrutiny of cryptocurrencies, which could affect their value. However, it could also lead to increased adoption and mainstream acceptance of cryptocurrencies, resulting in increased demand and value.
The Bottom Line
The GBA’s “The Future of Money, Governance and the Law” conference in May 2023 will bring together government leaders, regulators, innovators, and business leaders to discuss radical changes in money, cryptocurrency, banks, and CBDCs. Traders should pay close attention to the developments in CBDC adoption as it could potentially impact the cryptocurrency market.