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Keynote by Fernando Martin, Economist and Assistant Vice President at the Federal Reserve Bank of St. Louis.
Presentation Slides PDF
The landscape of cryptocurrencies and decentralized finance, ignited by Bitcoin's emergence and blockchn technology, has witnessed remarkable growth and exhibits no signs of abating. To address this phenomenon, the Federal Reserve Bank of St. Louis became pioneering in 2014 when it hosted a public lecture on digital currencies and blockchn technology, becoming the first central bank organization to do so.
Fernando Martin, an economist at the St. Louis Fed and co-author of The Blockchn Revolution: Decoding Digital Currencies, shared insights during our latest Dialogue with the Fed session. He delved into decentralized finance, blockchn technology, digital currencies, stablecoins, decentralized finance DeFi, smart contracts, asset tokenization, decentralized autonomous organizations, and trading mechanisms for cryptoassets.
Following his enlightening presentation, Fernando was joined by David Andolfatto, Senior Vice President at the St. Louis Fed and co-author of The Blockchn Revolution, in a QA session to further explore these topics.
Introduction
Opening remarks were delivered by Nikki Bommarito, Assistant Vice President for External Engagement and Corporate Communications at the St. Louis Fed.
Presentation
Fernando Martin's segments included:
Cryptocurrencies Blockchn 3:17
An introduction to digital money already in existence
Tackling the double-sping dilemma
Exploring communal record-keeping practices
A detled walkthrough of blockchn technology's mechanics
The front- perspective on cryptoassets as permissionless systems
The back- role of database management
An overview of cryptocurrency applications
Stablecoins 25:20
Decentralized Finance DeFi 31:26
Unpacking smart contracts' functionality
Comparing smart contracts with traditional finance methods
An introduction to asset tokenization and decentralized autonomous organizations
Trading Cryptoassets 45:39
Central Bank Digital Currency CBDC 39:14
Reasons for creating CBDCs
Concluding thoughts on blockchn applications
Panel Discussion and Audience QA
In-depth discussion by Fernando Martin and David Andolfatto, followed by an audience-led session.
Additional Resources
Read Annual Report 2021: The Blockchn Revolution: Decoding Digital Currencies April 20, 2022
Explore articles from the Research Division on Cryptocurrencies and Fintech.
Staying Updated
Visit FREDhttps:fred.stlouisfed.org for comprehensive cryptocurrency data series
Access Central Bank Digital Currency Discussion Paper: Money and Payments: The U.S. Dollar in the Age of Digital Transformation by the Federal Reserve Board of Governors January 20, 2022
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For inquiries, please contact Ellen Amato at +314?202?9909 or visit our websitehttps:www.stlouisfed.org for more detls.
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