News and Announcements

Professor Rod Garratt scheduled to speak at GRIT Talks

by Anne Ellis | Jun 20, 2017

GRIT Talks Lecture Series GRIT Flyer

Rod Garratt

Date: Monday 7/17/2017

Hatlen Theater, 5:30PM

Free Admission

Title: From Bitcoin to Central Bank Digital Currencies

Abstract: In 2013 the price of Bitcoin surged to over $1100 causing central banks around the world to take notice. Four years later, the price of Bitcoin is twice as high as its previous peak and central banks around the world are exploring the benefits of issuing crypto-based digital representations of fiat monies, more commonly known as central bank digital currencies. Rod Garratt, UCSB Professor of Economics, describes his work on a project to build a proof of concept for a wholesale interbank payment system that facilitates payments of central bank digital currency using a distributed ledger.

Bio: Rod Garratt holds the Maxwell C. and Mary Pellish Chair in Economics at the University of California Santa Barbara. He has served as a Research Advisor to the Bank of England, a Technical Advisor to the Bank for International Settlements and is a former Vice President of the Federal Reserve Bank of New York. During his time at the FRBNY he co-led the Virtual Currency Working Group for the Federal Reserve System and he currently consults for Payments Canada and R3 on Project Jasper: a proof of concept for a wholesale interbank payment system built on Corda -- a distributed ledger platform for financial services. Garratt received his undergraduate degree from the University of Waterloo and his Ph.D. from Cornell University. He is an Associate Editor of the Journal of Financial Market Infrastructures, the Journal of Network Theory in Finance and the Journal of Public Economic Theory.
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