This morning, the BIS Innovation Hub held an event ahead of the early 2022 opening of the European innovation center locations in Paris and Frankfurt. The BIS has already launched five hubs in Hong Kong, Singapore, London, New York and Switzerland where central banks collaborate on new technology.
Christine Lagarde, President of the European Central Bank (ECB), was asked to share her vision of what the future might look like. She speculated that the BIS Innovation Hub could be a future profit center.
Mme Lagarde suggested that Europe could identify innovations that could be used beyond its borders and envisioned a future that includes central bank digital currency (CBDC), AI and Quantum computing.
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