BWC Member Udaibir Das explores how financial innovation is reshaping the current financial architecture. He argues that technologies like stablecoins and tokenized money may make payments more efficient while reinforcing the dollar’s dominance. For emerging markets, Das stresses the importance of strengthening payment systems, local-currency markets, supervision, and liquidity backstops before adopting new digital finance rails. Ultimately, he argues that innovation will make strong institutions and financial sovereignty even more important. 

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All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.