June 12, 2020

Digital Fool's Gold? Cryptocurrencies and National Insecurity

  • Pindar Wong Internet pioneer, Former Chairman of ICANN

    Pindar Wong
    Internet pioneer, Former Chairman of ICANN

  • Megha vishwanath Moderator, Technical Editor, CNBC

    Megha vishwanath
    Moderator, Technical Editor, CNBC

To kickstart a ‘Designing a Digital Rupee’ discussion  by framing some of the current issues surrounding cryptocurrencies, the role of central banking in a digital decentralized world and the emergence of national blockchain networks.

Context

Beyond the Curve:

Since the invention of the internet's Digital Gold, the Bitcoin cryptocurrency has inspired 5,500 other cryptocurrencies to emerge over the last 11 years- all with varying degrees of successful adoption.

For over a decade the Bitcoin experiment has been triumphantly declared 'dead' over 350 times by those who believe that it has 'no intrinsic value', is 'not a currency' and not warn not to invest in 'Fool's Gold'.

Yet the censorship-resistant Bitcoin, like the internet on which it runs, continues to function in spite of the naysayers and today has a market capitalization of over USD160 billion.
 
Key Questions: 
 
  • Could cryptocurrencies drive national insecurity by encouraging capital flight?
  • How should a country respond?
  • Should a country issue a cashless digital currency of its own to compete?

Speaker:

 
Pindar Wong- Internet Pioneer, Former Chairman of ICANN
 
Moderator:
 
Megha Vishwanath- Technical Editor, CNBC

Experts

Pindar Wong
Pindar Wong
Internet pioneer, Former Chairman of ICANN

Megha vishwanath
Megha vishwanath
Moderator, Technical Editor, CNBC