Future of Currency

Thursday 21st July 2016

A synthesis of insights gained from last years discussions around currency, data, privacy, trade, loyalty and the associated future shifts across finance, government, technology and society.

Future of Currency

Following on from the future of currency events undertaken as part of the Future Agenda programme last year, we have just shared a synthesis of key insights gained. This mixes together the comments gleaned from the three dicussions hosted by Six Capital in Jakarta, Singapore and London with other insights from workshops on data, privacy, trade and loyalty. It explores 9 key areas where change is seen to be occuring:

  • Changing Role of Currency 
  • Shifting Power and Influence 
  • Technology Shifts 
  • Impact of Digital Money 
  • Currencies of Meaning 
  • Risk and Trust 
  • Supportive Regulation 
  • Access to Capital 
  • System Efficiency

Some key conclusions include:

Changing Nature of Currency: Currencies based on sustained trust and supported by a few pivotal multinational organisations predominate over monetary unions. Many central banks lose relative influence as the IMF reserve basket and alternative currency platforms create new bundles.

Impact of Digital Money: Cash continues to be gradually replaced by digital money, providing consumers with more convenience and choice – and organisations with lower cost transactions. Wider adoption enables new offers to proliferate – including in the black economy.

Currencies of Meaning: New trusted currencies of exchange emerge to better facilitate transactions, trade, authentication and validation. Money as a means of exchange is complemented by new systems to which we attach increasing significance.

This is the second in-depth report following on from the overall global Future Agenda programme. The first on the Future of Trade was undertaken in partnerhsip with DMCC in Dubai. This one on the future currency will be shared in the coming weeks by our partner, Six Capital in Singapore.

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