Speech by Member of the Executive Board of the Deutsche Bundesbank Burkhard Balz, 'The impact of digitalisation on the financial system', given at the FGV-Ebape in Rio de Janeiro, Brazil.
Balz talked about the following topics:
Challenges:
- Changes in user and payment behaviours
- New actors in the payments markets
Possible answers and conclusions:
- Updating existing payment systems / Instant payments
- Central bank digitial currencies (CBDC) and the digital euro