Payments and FMIs (Part 3): Capacity building

Deep dive: tokenized assets 

• Functional and organisational features of unbacked crypto assets (Bitcoin) 

• How do unbacked crypto assets differ from stablecoins? 

• Introduction to distributed ledger technology (DLT) 

• The Ethereum blockchain and smart contract platforms 

• Risks of decentralized finance (DeFi): Mass setbacks/project closures of 2022 

• Business applications of blockchain and DLT 

Layered payments 

• Single, double, and triple settlement layers 

• Interlinking domestic payment platforms with a competitive FX conversion layer 

• Multi-system payments, for example: RTGS with DNS, ACH, card, crypto, and CBDCs 

• One-layer vs two-layer or ‘synthetic’ CBDCs 

Wholesale settlement: methods of modernization 

• The role of private sector/commercial-led solutions for the settlement of wholesale transactions 

• Should central bank-led solutions be fully integrated or allow for synchronisation with existing digital solutions? 

• Wholesale CBDCs vs tokenized reserves (for example, Fnality)