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Programmable Money for CBN
8
Programmable Money - The Next Evolution of Money
by Voruganti Aravind
THANK YOU
INTRO
Intro
New form of Money
Blockchain enables Internet of Value for peer to peer exchange of value in the form of Cryptocurrencies, Tokens & Stable coins through Smart Contracts at high speeds & negligible costs.
We are experiencing Paradigm Shift & Tectonic change in Money supply chain and the role of Central Bank, FIs, NFIs & PSPs
This is making the Traditional Financial Intermediaries to reorganise their role in the value chain
CBDC - Central Bank Digital Currencies is Soverign response to bring the capabilities of programmable money for incumbants to innovate and mitigate alternative money markets
CeFi Vs DeFi
IMPACT
IMPACT
Business Model Disruption
Value based Banking
1.The shift from Tranasaction based banking to Value based banking.
2.Translating cost savings in to cost effective services from operational efficiencies achieved through CBDC smart contracts.
3.Changing the focus from fee per transaction to volume of transactions and value based banking services.
New Revenue Streams
New
Revenue
Streams
1.Move up the value stream - New revenue streams around automation of conditional payments and payment commitment for Enterprises.
2.Machine to Machine transactions powered by Industrial IoT & Smart contracts.
3.Extended partnerships through CBDC like instant DvP, Digital Asset tokenization, Liquidity Pools, Trade Finance, Bonds, Insurance to Individuals and Corporates.
4. Shared eKYC/DID for seamless onboarding and Identity Management.
Platform model to Ecosystem model
Global Monetary System as a whole is changing -
Are we ready to Embrace?
The change is from Bank App to Super App (Payment services Aggregator) to CBDC Ecosystem Wallet
NAIRA Issuer
Analogy
Story of
Telecom &
Lessons
1. Telecom companies shifted from Communication service provider to Data service provider.
2. Moved from Per minute cost basis to Data Consumption model
3. Changed their business model to accomadate more collaborations with Financial service providers, OTT, Music Apps & OTP based Authentication which were not possible in past and have seen significant growth
CASE STUDIES
Potential Future
CASE
STUDIES
Cross Border Payments
Cross Border Settlements
Capital Markets
DvP
Supply Chain Financing
Supply Chain
Financing
eNaira Network