From left to right: Miguel Ángel Fernández Ordóñez, M. Paloma Sánchez Muñoz, Félix Fernando Muñoz Pérez y José Antonio Pinilla Pérez.
On February 7th, the third “Breakfast with Innovation” event of the UAM-Asseco Chair took place, titled “THE IMPACT OF THE DIGITAL EURO: THE ‘CENTRAL BANK DIGITAL CURRENCY’ (CBDC) ON INNOVATION”.
This time, the guest speaker was Miguel Ángel Fernández Ordóñez, who served as the Governor of the Bank of Spain from 2006 to 2012.
The event featured José Antonio Pinilla, President and CEO of Asseco Spain and Chair of the UAM-Asseco Chair, and was led by Félix Fernando Muñoz, Director of Innovation at the Universidad Autónoma de Madrid (UAM).
Miguel Ángel Fernández Ordóñez opened by introducing the concept of CBDCs – specifically the digital euro (ED) for the Eurozone – as digital currencies issued by central banks.
He then delved into the analysis of two potential positive impacts of the digital euro on the economic system: enhancing financial stability and facilitating the liberalization of the banking sector.
Fernández Ordóñez concluded by emphasizing how this transition to a system with a secure form of digital money will create challenges. Commercial banks will be compelled to transform their business models, necessitating the implementation of support mechanisms for the adaptation process.
Following his presentation, a productive discussion unfolded between the speaker and various attendees. The event was ultimately concluded by Félix Fernando Muñoz.
