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PARIS and SHENZHEN, China, July 31, 2020 /PRNewswire=KYODO JBN/ --

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 systems.

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