IBM Exec at WEF: CBDCs are the Future of Money, Enterprise Blockchain Can Reduce Energy

• Shyam Nagarajan, an executive partner at IBM Consulting, discussed the potential of enterprise blockchain, CBDCs, and Web3 at the World Economic Forum in Davos, Switzerland.
• Nagarajan believes that CBDCs have the potential to change payment systems and are the future of money.
• He suggests issuers consider a hybrid-like model of permissioned and permissionless currency.

Shyam Nagarajan, an executive partner at IBM Consulting, discussed the potential of enterprise blockchain, CBDCs, and Web3 at the annual World Economic Forum in Davos, Switzerland. He believes that CBDCs have the potential to revolutionize payment systems, making them the future of money.

Nagarajan argued that, while CBDCs are able to replace the current digital currency system, issuers should consider a hybrid-like model of permissioned and permissionless currency in order to meet the demands of different users. This hybrid model could allow issuers to better control and manage the currency, while still allowing users to access their funds anytime, anywhere.

In addition to his discussion on CBDCs, Nagarajan also touched upon IBM’s sustainability efforts and the discontinuation of their blockchain-enabled shipping solution TradeLens. Nagarajan believes that TradeLens will ultimately have to go away, citing the need to focus on other areas of the company’s blockchain strategy.

Nagarajan also revealed that IBM is currently working on a number of initiatives to make blockchain-based data storage and processing more efficient. He believes that blockchain technology is ripe for disruption, and that the company is looking to use it to reduce energy consumption while still providing users with a secure and reliable data storage platform.

Overall, Nagarajan’s discussion at the annual World Economic Forum highlighted the potential of enterprise blockchain, CBDCs, and Web3. He believes that CBDCs are the future of money, and that issuers should consider a hybrid model of permissioned and permissionless currency in order to meet the demands of different users. In addition, he discussed IBM’s sustainability efforts and the discontinuation of TradeLens, as well as the company’s initiatives to make blockchain-based data storage and processing more efficient.