The Digital Freedom Festival in cooperation with the official bank of the festival – Norvik Banka – has held the first discussion, The Future of Money. The discussants talked over the impact the development of technologies had on the international settlement system, which was based on money. The discussion was managed by the Chairman of the Board of Norvik Banka Oliver Bramwell.

The future of money is unclear. Blockchains and cryptocurrencies split traditional financial systems, transforming the existing financial market structures. This is a groundbreaking mechanism, which changes the way we make online transactions and offers clients transparent, faster, cheaper and safer transaction solutions. Their application seems infinite, and such transactions are fast becoming the new financial tool alternatives.

Oliver Bramwell, Chairman of the Board of Norvik Banka: “Interest in the first discussion held under the Digital Freedom Festival project, i.e. The Future of Money, shows that we are an active society, which follows the changes in the financial industry. At this meeting, we talked about cryptocurrency and its importance for the financial future, as well as discussed the phenomenon of popularity of cryptocurrency, and its security level”.

Juris Šleiers, Co-Founder of the Digital Freedom Festival: “The world’s leading experts have forecasted that in the coming decades monetary systems will undergo fundamental changes, which will result in the necessity of innovative ways to structure economic systems. The development of technologies has led to diminishing of confidence in money; however, it is still unclear how the world would look like without money as a means of payment”.

The discussion was joined by the CEO of the loyalty program PINS Gabi Kool, Chief Information Officer of Bitfury Group Alex Petrov and the Country Manager for Microsoft Latvia Renāte Strazdiņa. The discussion was held in English.

About the Digital Freedom Festival

The Digital Freedom Festival is a global technology, startup, policymaking and lifestyle festival. This November 27-28, in Riga, the festival will congregate 1300 technology and startup entrepreneurs, experts, policymakers, investors, journalists and inspiring speakers from all over the world, for them to search for the ways how entrepreneurs, the society and policymakers can cooperate better and make the best use of rapid technological development.