In a world grappling with economic disruptions and technological advancements, digital currencies have emerged as a significant force reshaping the financial landscape. Originally launched into mainstream awareness by decentralized cryptocurrencies such as Bitcoin, the domain of digital currencies has evolved. This white paper delves into the transformative development of Central Bank Digital Currencies (CBDCs)—a melding of the blockchain’s robust security and transparency features with the stable, regulated architecture of traditional monetary systems. Our latest research brief, Ripple CBDC Platform: A Case Study on CBDC Technology and Stablecoin Adoption in Palau, developed in partnership with Ripple, looks at how the island nation of Palau successfully deployed a Phase One pilot of a stablecoin powered by Ripple’s CBDC technology. This paper provides details about:
- Emerging trends in CBDC
- Challenges of a cash-based economy faced by Palau
- How Palau successfully deployed a landmark stablecoin project
- Advantages of the CBDC platform and stablecoins
- Recommendations for other nations considering stablecoins
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Author Information
Regarded as a luminary at the intersection of technology and business transformation, Steven Dickens is the Vice President and Practice Leader for Hybrid Cloud, Infrastructure, and Operations at The Futurum Group. With a distinguished track record as a Forbes contributor and a ranking among the Top 10 Analysts by ARInsights, Steven's unique vantage point enables him to chart the nexus between emergent technologies and disruptive innovation, offering unparalleled insights for global enterprises.
Steven's expertise spans a broad spectrum of technologies that drive modern enterprises. Notable among these are open source, hybrid cloud, mission-critical infrastructure, cryptocurrencies, blockchain, and FinTech innovation. His work is foundational in aligning the strategic imperatives of C-suite executives with the practical needs of end users and technology practitioners, serving as a catalyst for optimizing the return on technology investments.
Over the years, Steven has been an integral part of industry behemoths including Broadcom, Hewlett Packard Enterprise (HPE), and IBM. His exceptional ability to pioneer multi-hundred-million-dollar products and to lead global sales teams with revenues in the same echelon has consistently demonstrated his capability for high-impact leadership.
Steven serves as a thought leader in various technology consortiums. He was a founding board member and former Chairperson of the Open Mainframe Project, under the aegis of the Linux Foundation. His role as a Board Advisor continues to shape the advocacy for open source implementations of mainframe technologies.
