The future of money: 10 years after Lehman and Nakamoto

The future of money is the conference that will take place on the campus of the Frankfurt School of Finance and Administration this November 24.

Since the financial crisis and the invention of Bitcoin, economists have begun to discuss not only regulatory interventions, but also the structure of the monetary and financial system itself.

The future of money

In addition to the problems and possible changes to the monetary system, two radical reforms will be discussed at this conference:

• The Vollgeld Initiative.
• The system of free competition between crypto currencies.

Dominik Schiener is his twitter account @DomSchiener shows some of the points that will be developed in the conference.

Looking forward to present #IOTA at "The Future of Money – 10 years after Lehman and Nakamoto" in Frankfurt this week. Will be an interesting discussion with renown economists about the future of IOTA and Crypto-Currencies https://t.co/Xm4fDWfJuI

— Dominik Schiener (@DomSchiener) November 19, 2018

The conference welcomes leading international economists from Universities, Central Banks and Financial Institutions.

The keynote addresses will be given by William White (Chief Economist of the OECD, former Chief Economist of BIS), Professor Dr. Thomas Mayer (Flossbach von Storch Research, former Chief Economist of Deutsche Bank), Dr. Michael Kumhof (Bank of England, formerly at the IMF), Professor Dr. Laurence J. Kotlikoff (Boston University, author of Best Sellers) and Professor Dr. Peter Bofinger (University of Würzburg, member of the German Council of Economic Experts).

During the different sessions, interventions include the former governor of the Spanish Central Bank, Miguel Ángel Fernández Ordóñez; a leading researcher on the E-Krona project at the Swedish Central Bank, Dr. Carl Claussen; the designer of the Vollgeld approach, Professor Dr. Joseph Huber; and the head of the Blockchain Centre at the Frankfurt School, Professor Dr. Philipp Sandner.

The Vice-Chairman of the Finance Committee of the Green Party in Germany, Dr. Gerhard Schick MdB, will attend the round table with other conference participants.

Digital Cash

It is good to remember that economists and central banks are debating the issuance of digital cash that could be transferred through Blockchain, but it could also significantly impair the ability of commercial banks to create money.

Supporters of these controversial approaches meet at the conference and discuss their feasibility.

Supporters of sovereign money or “Vollgeld” criticize the creation of money from commercial banks that systematically produce financial crises and advocate a complete return of the creation of money to the hands of the public central bank.

On the other hand, the supporters of monetary competition and cryptographic currencies see the public central bank as the weak point of the current monetary system and advocate a total denationalization and privatization of money.

The conference will end with a round table discussion with representatives of the financial sector, NGOs and economists.