Benefits of Going Cashless and The Rise of Central Bank Digital Currencies

Episode 208: Innovation and Fintech expert, Richard Turrin discusses Chinaʻs mobile payment revolution, Central Bank Digital Currency (CBDC), and what it means for the West.

Guest Biography

Rich headed fintech for IBM Cognitive Studios Singapore (IBM's Innovation Lab) where he led a team that built innovative AI and analytic solutions. He also worked in IBM China where he led his team to win the prestigious "Risk Technology Product of the Year" award for his unique hybrid-cloud solution to risk analytics.

Rich was a banker for almost 20 years and a serial innovator throughout his career. Specializing in the design and innovation of new fixed-income products, he saw firsthand how technology, finance, and regulation come together to impact innovation. He made his career by thinking "out of the box" and uses his experience now as a Consultant to put fintech and AI to work for his clients.

As an experienced finance professional and systems builder, Rich understands what financial services companies need in order to thrive and how non-financial companies can benefit from advances in Fintech.

In this episode, you'll learn:

• How Fintech can change society's relationship with money
• The positive impact of China going cashless
• What is a Central Bank Digital Currency (CBDC) and why is it complex for countries to implement?

Show notes: http://www.inspiredmoney.fm/208

Find more from our guest:

• www.richturrin.com
• Twitter
• LinkedIn

Mentioned in this episode:

• Hult International School of Business
• Facebook-backed Diem Coin
• Google Plex Checking Account

Books

• Cashless: China's Digital Currency Revolution by Richard Turrin
• Innovation Lab Excellence: Digital Transformation from Within by Richard Turrin

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Are you familiar with WePay or AliPay? Are you prepared to go cashless?