Blockchain Technology and Crypto-assets as a New Form of Payment Tool

April 11, 2022

This conference report summarizes the key points and discussions from a session held on October 6, 2021, in place of CIGI and Oliver Wyman’s eighth annual Financial Regulatory Outlook Conference, given continuing travel restrictions due to the COVID-19 pandemic. The session focused on the specific challenges for regulation and supervision in the financial ecosystem where new technologies such as blockchain are favouring the introduction of crypto-assets, which, de facto, represent a possible challenge to central banks’ monopoly on monetary supply. This report first discusses the technical background on blockchain technologies, then examines crypto-asset markets and closes with the interconnections with monetary policy.

About the Authors

Giovanni Tria is a CIGI distinguished fellow and an economist with more than 40 years of academic and professional experience in the fields of macroeconomics, economic development policies, public economics and public investment assessment.

Angelo Federico Arcelli is currently a CIGI senior fellow and a professor of economics of international institutions at Guglielmo Marconi University in Rome.

Andrea Federico is a partner at Oliver Wyman working in the Public Sector and Policy practice in Europe.