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The digital transformation of the European financial sector, initiated a decade ago, is now gaining significant traction. Emerging regulations are helping to define this landscape, while techno- logies like Distributed Ledger Technology (DLT) and blockchain have demonstrated their value. Most central banks are also advancing towards the introduction of Central Bank Digital Currencies (CBDCs).
Ronit Ghose, Global Head of Future of Finance at Citi Institute, notes: “Finance has already transformed dramatically over the past 30 years, and the evolution continues with blockchain, DLT, and generative AI.” In his book Future Money (March 2024), Ghose argues that AI will soon drive major productivity gains in information management and software development. Luxembourg for...
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