The “Digital Money and Payment Systems” Working Group (DDSP) results from the evolution of the Digital Currencies Group that was created in FIDE after the announcement by Facebook of the intention to launch the “Libra” cryptocurrency in 2019. 

The DDSP Group identifies, discusses and proposes about the changes brought about by the arrival of new technologies to the world of money in a broad sense, and studies the impacts and developments in payment systems, market infrastructures, financial and banking systems, and their regulation.

In parallel to current monetary and financial systems and hand in hand with technologies such as blockchain and encryption new players and financial services are emerging around crypto assets or tokenization, which provide new ways of transferring or managing value. At the same time, the tech giants are increasingly relevant players in payments and other financial spheres given their digital dominance.

This phenomenon requires not only an adjustment in the regulatory map but also in the strategy of countries and companies since it supposes its answer to the adaptation of the world of the money to the inevitable changes in the technology. And given the importance of money in the economic life of any country, this adaptation is key to the continuation of economic and social progress.