July 13, 2025

CBDCs at the Crossroads with John Kiff

1 hour 2 minutes

Exploring wholesale innovation, retail challenges, and why stablecoins could become the future of digital money with John Kiff

Welcome to a new episode of BFRR – Bitcoin, Fiat & Rock'n'Roll, the podcast where we explore the evolving world of digital money at the intersection of traditional finance, digital assets, and emerging technologies.

In this episode, co-host Jonas is joined by none other than John Kiff, a globally respected expert on central bank digital currencies (CBDCs) and digital money.

With over 40 years of experience in monetary policy and payments—from the Bank of Canada to the International Monetary Fund (IMF)—John brings unparalleled insight into the global transformation of money.

We dive deep into:

💡 How John got started in the CBDC space and how it's evolved since the early days

🏦 The global shift between retail vs. wholesale CBDCs, and where momentum is heading

🌐 Lessons from real-world CBDC missions, including Bolivia and Bhutan

📉 Why some retail CBDC projects are stalling (and what we can learn from that)

🧩 The role of tokenized deposits and their integration with wholesale CBDC infrastructure

🔐 Privacy, inclusion, and infrastructure—what it really takes to build a usable CBDC

💥 The potential for stablecoins backed by central bank reserves

⚙️ Composability, modularity, and the future of money on public blockchains

📊 Why central banks must rethink digital payment systems—especially in a multi-currency world.

From technical nuance to policy implications, this episode offers a clear-eyed view of what's hype, what's real, and what's next for CBDCs and digital finance.

🎧 Whether you're a policymaker, developer, crypto-curious, or just obsessed with the future of money—this one is not to be missed.

🔗 Subscribe, share, and join the conversation on our Telegram community.

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📬 Follow John’s insights via his blog and dailies at kiffmeister.com or on Twitter/X @Kiffmeister

🔗 Learn more about the Digital Euro Association and our global CBDC tracker in the show notes.

Paper on tiered remuneration by Ulrich Bindseil

LinkedIn John Kiff

X John Kiff

Kiffmeister Daily Blog on digital money

Bitcoin, Fiat & Rock'n'Roll Website

Bitcoin, Fiat & Rock'n'Roll Telegram Channel

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Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes, and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First, try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here

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By Alexander Bechtel, Michael Blaschke, Jonas Gross, Manuel Klein