Suggestions
Adam Jackson
Strategy and public policy in the City
Adam Jackson is the Director of Policy at Innovate Finance, a trade association that represents the UK's financial technology (FinTech) sector.
Here are some key points about Adam Jackson:
- Experience: He has over 30 years of experience in government, finance, and sustainability.367
- Role at Innovate Finance: Jackson leads the policy and regulatory engagement for Innovate Finance, representing the UK FinTech sector. He works closely with regulators, government, and policy makers to ensure the voice of the FinTech sector is heard and to maintain the UK's position as a global FinTech hub.136
- Committee Memberships: He is a member of the Bank of England's Central Bank Digital Currency advisory panel and has been involved in responding to various regulatory and policy reports, including the UK Parliament Treasury Committee’s crypto sector report.12
- Education: Jackson holds an education background from University College London.4
- Professional Focus: He specializes in strategy, public policy, and business consulting, with a strong emphasis on championing FinTech and promoting profits with purpose.45
- Additional Roles: Apart from his role at Innovate Finance, Jackson also serves as a Board Trustee at the Family and Childcare Trust.7
Jackson is active in advocating for a balanced regulatory approach that encourages innovation while protecting consumers, and he has been instrumental in shaping regulatory proposals and engaging in dialogue with industry, regulators, and government entities.12
Highlights
Day 1 of #ExploringCBDC conference. We’ve heard from a fantastic array of speakers - including Innovate Finance members PayPal , Swift , Accenture and Citi. Some recurring themes and take aways for me:
▶️This is about more than Central Bank Digital Currencies. The enabling technology is #blockchain and #AI. Transformation will come from the combination of CBDCs, AI, regulated #stablecoin and tokenisation of real world assets including securities and commodities.
▶️This is where digital money and digital assets, plus AI analysis and programmability can create significant new value.
▶️We need to avoid new silos or digitising existing silos. Blockchain can work across financial product silos. This will require interoperability and may call for something like a unified ledger that can bring these together. Regulated liability network is one solution, as is the work being developed by Swift, and Bank for International Settlements – BIS is looking at a unified ledger.
▶️Looking purely at CBDCs, there is a very strong case for central banks to maintain the ‘public good’ infrastructure of central bank money and as cash declines (and loses its network effects) this needs to have a digital form. But this will be a private-public collaboration.
▶️Payments, especially cross-border, remain opaque and expensive; and in many markets there is limited competition in banking services. CBDC is being looked at by some states as a way of shaking this up.
▶️Privacy is key - but we have existing privacy frameworks and we need to now develop how these will be applied / built for CBDCs.
▶️Wholesale CBDC can provide the trust needed for settlement of tokenised assets.
▶️We seem likely to see, at least initially, a mix of centralised and decentralised ledger - trust issues mean retail CBDCs seem likely to be on a central ledger; but wholesale and cross-border CBDC may provide a better basis for trust in cross-border transactions.
▶️Cross-border retail CBDC could be a major enabler to achieving the World Bank and UN SDG targets for lowering the cost of remittances. Digital payments can make a huge difference for small value remittances by those on lower incomes; global remittances is huge form of financing for tackling global poverty so reducing cost has huge impact.
Finally, my favourite quote of the day: “Would any industry other than financial services get away with saying of an innovation: ‘is this a solution looking for a problem’”?
Looking forward to tomorrow - when central banks and industry will workshop solutions and international standards. And I will be having a fireside chat in the #FinTech hub with Cam Nili on how the UK is progressing the digital £, regulated stablecoins and wholesale CBDC.
Tony McLaughlin Cecilia Skingsley Carmelle Cadet Tom Zschach Tim Davis Saema Somalya Olivier Dang Ananya Kumar Josh Lipsky Charles Lichfield Katherine Haar Jennifer B. Lassiter Atlantic Council The Digital Dollar Project
A flying (by train) visit to Paris for the Anglo-French Financial Services Dialogue. An excellent session comparing notes on digital asset regulation and policy, Net Zero finance, ESG data and capital markets. Expertly steered by Vivien Levy-Garboua and Alan Houmann and insightful discussion from everyone round the table and online including Sherry Madera, Flora Hamilton, Sharon Lewis, Charles Moussy, Pauline Becquey, Karen Degouve, Nick Collier and Kimon Argyropoulos Niarchos
#capitalmarkets #finance #digital #paris #data #digitalassets #crypto #NetZeroFinTech #fintech #financialServices #ViveLeDialogue!
