Jerome Ajdenbaum
VP, Digital Currencies
IDEMIA
Biography
Jerome Ajdenbaum is managing the Digital Currency business at IDEMIA. He is the author of a bestselling book “Who Will Win the Cryptocurrency War?” and is frequently interviewed in the press on subjects ranging from to cryptocurrencies and the politics of the political aspects of the metaverse.
About the company
As a leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. IDEMIA offers its public and private customers payment, connectivity, access control, travel, identity and public security solutions. Every day, around the world, IDEMIA secures billions of interactions in the physical and digital worlds. With nearly 15,000 employees, IDEMIA is trusted by over 600 governmental organisations and more than 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach.
Presentation
Lessons from the Digital Euro offline Prototype
The ambition behind the digital Euro is clear : Combine convenience of digital payments with cash-likes features A key component of this is enabling offline payments, which presents both opportunities and challenges. To explore this, Worldline developed a prototype for the European Central Bank (ECB) to test the feasibility of offline transactions. In this session, IDEMIA and Worldline will share their experiences and findings from this innovative initiative.
Panel discussion : Offline payments with CBDC
The implementation of offline payments in retail CBDCs presents both significant challenges and essential benefits.
Challenges include ensuring robust security and privacy in transactions without online verification, which is critical to prevent fraud and unauthorized access. Developing reliable, secure hardware or software solutions that can function without an internet connection is technologically demanding. Additionally, creating a universally accepted offline payment system requires infrastructure upgrades and compatibility across diverse devices and platforms. There's also the issue of maintaining transaction limits and monitoring for compliance with financial regulations, all while offline.
Despite these challenges, the importance of offline payment capabilities in CBDCs cannot be overstated. They enhance financial inclusion by providing access to digital payments in areas with limited internet connectivity, thus reaching underserved populations. Offline functionality also ensures transaction continuity during network outages or in emergencies, supporting resilience in payment systems. Moreover, it offers a level of convenience and privacy for users, promoting broader adoption of CBDCs. Ultimately, developing robust offline payment solutions is vital for a resilient, inclusive, and widely usable CBDC ecosystem.
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Contact us
Lighthouse Communications LLC
Chamerstrasse 56, 6300 Zug / Switzerland
+41 41 530 36 73
info@cbdc-conference.com
Chamerstrasse 56, 6300 Zug / Switzerland
+41 41 530 36 73
info@cbdc-conference.com
