Country for PR: China
Contributor: PR Newswire Asia (China)
Saturday, August 01 2020 - 00:11
Central Bank of Peru Annual Conference: Thousand Cities Strategic Algorithms (TCSA) Proposes "Sovereign Asset Currency System"
PARIS and SHENZHEN, China, July 31, 2020 /PRNewswire-AsiaNet/ --

Shenzhen Thousand Cities Strategic Algorithms Cloud Technology (TCSA) was 
invited as the advisor on sovereign currency technologies for "A New Era of 
Policymaking for Post-Pandemic Emerging Economies", the 12th annual conference 
hosted by the Central Reserve Bank of Peru (CRBP) and Reinventing Bretton Woods 
Committee (RBWC) on July 24, 2020. 

The virtual conference welcomed attendees from the Central Bank of Russia, 
Pakistan, Costa Rica and Armenia, as well as the Latin American Currency 
Research Center, International Finance Association, and University of 
Pennsylvania Economic Research Institute.  RBWC President Marc Uzan emphasized 
the economic impact of the coronavirus pandemic on countries around the world. 
The central banks in attendance shared their respective fiscal and monetary 
policy decisions in an effort to restore economic health and productivity, 
maintain financial stability, and pave the way forward for policymaking after 
the pandemic.

TCSA proposed national economies should enhance their monetary systems by 
upgrading sovereign credit currencies to sovereign asset currencies supported 
by comprehensive data and algorithmic analytics. Using this innovative 
approach, central banks can achieve true unification of fiscal, economic, and 
monetary data. This unification also enables the creation of a "Policy Decision 
Cockpit" that directly oversees a country's economic, fiscal, and currency 
systems – giving government officials and political parties an effective tool 
to pilot economic policies and social programs. With the "Policy Decision 
Cockpit", central banks will be able to design economic policies using reliable 
blueprints, solid evidence, and real-time optimization. The tool will enhance 
the efficacy and responsiveness of monetary policies against internal and 
external shocks, while supporting targeted reform of economic governance 

TCSA's "Sovereign Asset Currency System" consists of two package options: 
"Electronic Payment + AI Algorithmic Engine + Policy Decision Cockpit" or 
"Digital Currency + AI Algorithmic Engine + Policy Decision Cockpit." Either 
system can be built within 1 to 3 years on top of existing POS, mobile payment, 
online banking systems or digital currency schemes – effectively ensuring a 
powerful, risk-free upgrade of existing payment systems. Furthermore, TCSA will 
conduct a comprehensive technology transfer of all customized software and 
hardware to central bank partners to ensure absolute data privacy and security.

In August, TCSA will host webinars with various central banks to further 
discuss the implementation of the "Sovereign Asset Currency System".

SOURCE  Thousand Cities