Jakarta: Bank Indonesia (BI) and Bank for International Settlements (BIS) Innovation Hub, on Monday launched the G20 Techsprint Initiative 2022 as one of the side events in Indonesia G20 Presidency.
The G20 Techsprint Initiative 2022 is an international competition to explore innovation in order to develop cutting-edge technology-based solutions that are sustainable and open to participants from various communities around the world.
The activity, which was first held in the Arab Presidency, this year is the third implementation and under the Indonesian G20 Presidency focussing on developing new solutions for central bank digital currencies (CBDCs).
In his opening remarks, BI Governor Perry Warjiyo mentioned that the ultimate goals of CBDCs can be achieved by recognizing the importance of collective understanding of its technology and inclusive collaboration among major developed countries and emerging economies, which has always been the core purpose of the G20.
"Through the G20 TechSprint 2022, we aim to foster and challenge the international community to propose and deliver the most practical and deployable solutions in designing and implementing CBDCs," he said in a press release on Monday.
This year's "hackathon: invites global innovators to develop new solutions for issuing and distributing CBDCs and to use them to advance financial inclusion, following successful initiatives on regulatory and supervision compliance and green finance solutions in previous years.
"There is a collective belief that CBDCs have a lot of potential for promoting the public interest in this age of digital money. Trust in money is the glue that holds the financial system together. It is for this reason that, as technology advances, central banks must ensure that the monetary system remains fundamentally a public good and preserve its stability," said BIS General Manager Agustin Carstens.
Cek Berita dan Artikel yang lain di Google News
FOLLOW US
Ikuti media sosial medcom.id dan dapatkan berbagai keuntungan
