The upcoming World Economic Forum's Davos Agenda will hold two separate conferences about cryptocurrency, which is another convincing signal that digital assets have penetrated mainstream consciousness.
The sessions called "Reset Digital Currency" will be held on Monday and Thursday. There will be five public speakers at the first session, including Andrew Bailey, Governor of the Bank of England, and Hikmet Ersek, president and CEO of Western Union.
Thursday’s panel has four speakers, including Tharman Shanmugaratnam, the senior minister of the Singapore government, and Zhu Min, chairman of the National Institute of Financial Research based in Beijing.
"COVID-19 has accelerated the long-term shift from cash," reads the prospectus for both sessions. "Meanwhile, central bank digital currencies are emerging, potentially transforming how people use money worldwide."
"What policies, practices and partnerships are needed to leverage the opportunities posed by the rise of digital currencies?"
The Davos Agenda is a five-day summit featuring financial and government figures from all over the world. The cryptocurrency series belongs to the "Fairer Economies" theme of the summit. Other themes include "Tech for Good", "How to Save the Planet" and "Healthy Futures".
The World Economic Forum is investing more resources to understand blockchain technology and cryptocurrency. The Geneva-based organization has even established a cryptocurrency working group, which did not publish its inaugural review focusing on various use cases for digital assets "beyond price and speculation" until last month.
The research of the forum believes has stated that blockchain technology is the main driving force of "sustainable digital finance". Forum researchers believe that blockchain and smart contract capability can unlock the "hidden value of legacy digital systems."
Central bank digital currencies (CBDCs) are one area that has been studied by the Forum in the past 18 months. In January 2020, the forum stated that it had developed a framework to help banks "evaluate, design and potentially deploy CBDC." The framework was developed in conjunction with more than 40 central banks, financial institutions, as well as academic researchers.