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Media Advisory

Digital fiat currency: Second meeting of ITU Focus Group, New York, U.S., 18-20 July 2018

Standardization of digital fiat currency and its applications




Geneva, 26 June 2018

The International Telecommunication Union's (ITU) Focus Group investigating digital fiat currency (DFC) – digital currency authorized and issued by a country's Central Bank – will hold its second meeting in New York, 18-20 July 2018. ITU is the United Nations' specialized agency for information and communication technology (ICT).

Central Banks that have emerged as prominent thought leaders in debates around DFC will present their experiences. Brazil, China, Egypt, India, Norway, the Philippines and Sweden will share insight into their DFC ambitions as they present country case studies to distill the implications of DFC for policy and regulation, economics, technical and business dynamics, and security.

< Media registration is now open >  

Media are required to register in advance to gain admittance to the meeting and workshop and receive key announcements in the run-up to the events.

At the heart of the Focus Group's work are questions relevant to the interoperability and security of DFC, in particular the regulation and standardization necessary to achieve this. The Focus Group places ITU's technical expertise at the service of financial-services stakeholders interested in introducing secure DFC. The group is building a common understanding of the foundations of DFC and its relationship with macroeconomic stability, payment ecosystems and ICT infrastructure.

Press are invited to join a press briefing at 18:00 on Wednesday, 18 July, hosted by:

  • David Wen, Digital Fiat Currency Institute, Chairman of the Focus Group
  • Bilel Jamoussi, Chief of the ITU-T Study Groups Department
  • Robert Hockett, Cornell Research Academy for Development, Law and Economics and the Jack Clarke Business Law Institute, Cornell School of Law

Press are also invited to join the cocktail reception to follow the press briefing to continue their discussions with speakers and attendees.

WHAT:

WHY:

Digital fiat currency is currently being studied and tested by governments and central banks in order to realize the many positive implications it contributes to financial inclusion, economic growth, technology innovation and increased transaction efficiencies.

WHERE

Cornell Tech Campus, Bloomberg Center, 2 W Loop Road, Roosevelt Island, New York, NY 10044.

WHO:  

Participation in ITU Focus Groups and ITU Workshops is free of charge and open to all.

The Focus Group's work is driven in collaboration by Central Banks, ICT regulators, commercial banks, financial service providers, network operators, security professionals, FinTech innovators, and technical and financial standards bodies.

ITU Focus Groups are open to all interested parties. These groups accelerate ITU studies in fields of growing strategic relevance to the ITU membership of 193 Member States, 800+ private sector members and other ICT stakeholders, delivering base documents to stimulate international standardization work in membership-driven ITU-T Study Groups.

More event information is available on the event webpage.

Learn more about this work on the webpage of the ITU Focus Group on 'Digital Currency including Digital Fiat Currency'

​Read Op-Ed by David Wen, Chairman of the ITU Focus Group on 'Digital Currency including Digital Fiat Currency'