Considering the Transparency and Control of Digital Currency with Kris Lance
By Kelly Barner | March 29, 2023
The banking system has been in the news quite a bit recently, and not for good reasons. Everyone has learned a lot about the liquidity and transactions that make the financial system – and our economy – work. Two initiatives that have received far less coverage are FedNow and Central Bank Digital Currencies (CBDCs), both of which raise important questions about the role of regulation in banking and payments.
In this episode of The Sourcing Hero podcast, Host Kelly Barner welcomes back Kris Lance, Senior Director at Una, for a recurring monthly conversation about current news stories. Kris has experience in multiple industries and has his finger on the pulse of the trends and topics that procurement, sourcing, and supply chain professionals need to be aware of.
In this interview, Kris and Kelly discuss FedNow and CBDCs and ask some of the big questions that don’t yet seem to have answers:
- Whether the federal government is working with or ‘against’ large banks in rolling out instant digital payment capabilities
- The ‘retail option’ which would allow individual consumers and small businesses to bank directly with the government
- How transparency can lead to increased control, sometimes good and sometimes not