Beju Shah is Head of Nordics for the Bank for International Settlements' (BIS) Innovation Hub. He leads a team of experts in cybersecurity, payments, central bank digital currencies (CBDC) to deliver trail-blazing projects and insights on the applications of technology to the global central bank community and policy makers. Beju has been at the cutting-edge of the future of payments and CBDC for several years now, bringing a different perspective. The Nordic Centre of the Innovation Hub is delivering projects for offline payments functionality for CBDC, security and resilience for CBDC systems, a cross-border retail CBDC experiment in collaboration with Riksbanken, Norges Bank and Bank of Israel, and another taking data driven approach to combatting money laundering cross-firm and cross border using the latest technologies. Before the BIS, Beju was at the Bank of England for 10 years in several roles, establishing and heading a new data division, leading on large data, digital and business transformation programmes, catalysing innovation via its pioneering FinTech accelerator initiative. His team won an award at the 2018 Banking Technology Awards. He represented the UK at EU agencies and International Organisations on committees for technology and data standards. He has a background in Artificial Intelligence.
Central banks around the world are getting involved in digital currencies with 105 countries currently exploring centralized digital currencies. Currently, the majority of countries are in the research stage. What is the role of the eurosystem and private market participants in the CBDC? How do we envisage CBDC fit into the existing payment ecosystem?