“No better introduction to the frontiers of digital finance”

“There is no better introduction to the frontiers of digital finance for policymakers, researchers, and market participants than Moenjak’s masterful new treatment. Drawing on his immersive grounding in the subject as a central banker with deep first-hand experience, Moenjak covers the waterfront of crucial topics, including digital identity, novel payment systems and currencies, financial stability, banking disruption, and regulation.”

“An invaluable guide for policy makers, regulators, practitioners and researchers”

“Central Banking at the Frontier: Creating a Digital Financial Landscape” provides a remarkably comprehensive and clear guide to the new technologies, players, and financial instruments reshaping the future of finance and money globally, considered from a central banking perspective –  all from the unique vantage point of somebody who has been deeply involved for many years, with a commendable attention to detail and commitment to open inquiry. The book is timely and important given the pivotal role central banks are poised to play, and the weighty decisions they must undertake to navigate and shape this evolving frontier while upholding their core mandates of financial and monetary stability amidst the tumult of change. This authoritative work can be an invaluable guide for policymakers, regulators, industry practitioners and researchers alike, who are seeking to equip themselves to navigate with confidence and clarity this emerging landscape where complexities abound.”

— Professor David R. Skeie

“Should be a required reading for senior staff at the World’s Central Banks”

“As the book demonstrates, the task of the central banker has changed radically and rapidly with the digitisation of the financial system and new skills must therefore be acquired and new tools deployed. Thammarak develops his arguments in detail and at a practical level rather than simply setting out a general overview and thus provides readers with concrete guidance as to how to deal with these new challenges. His book should be required reading for all senior staff at the World’s Central Banks.”

— Dr. Bill Roberts

“A comprehensive analysis of the role of central banks in a rapidly evolving financial landscape driven by digitalisation of payments, financial services, regulation and even money itself.”

“A comprehensive analysis of the role of central banks in a rapidly evolving financial landscape driven by digitalisation of payments, financial services, regulation and even money itself. Whether you are a practitioner, regulator, or teacher of financial markets, this is an essential source of information on the most recent developments.”

“The book goes beyond merely providing a list of the challenges that the central banks are facing. Importantly, it focuses in detail on how the central banks might respond to those challenges to ensure that risks posed to monetary and financial stability are mitigated.”

“This book is a superb guide to the implications for central banking of the emerging digital financial landscape which the author, quite rightly, sees as an exciting new frontier of central banking. The book goes beyond merely providing a list of the challenges that the central banks are facing. Importantly, it focuses in detail on how the central banks might respond to those challenges to ensure that risks posed to monetary and financial stability are mitigated while at the same time enabling consumers and businesses to benefit the most from the new technologies.”

— Dr. Robert Dixon

“Of undoubted huge benefit to Central Bank readers, this book will also help policy makers, financial services practitioners and academics understand the challenges faced by Central Banks and the role they will need to play in the evolution of the digital financial landscape.”

“Many of us take for granted that the economy of the country we live in remains healthy and stable; in large part this is down to the role played by the Central Banks. But Central Banks are facing new challenges on multiple fronts. A new digital financial landscape is emerging fuelled by new technologies, BigTech and FinTech innovators and changing customer expectations. For the first time, Thammarak Moenjak has taken a Central Bank lens to these developments and provides an authoritative guide to the challenges, responses and future outlook. The author’s personal experience has positioned him well to study the nature of these developments from multiple perspectives, and his global outlook is well demonstrated by multiple examples which support his narrative.

Of undoubted huge benefit to Central Bank readers, this book will also help policy makers, financial services practitioners and academics understand the challenges faced by Central Banks and the role they will need to play in the evolution of the digital financial landscape.”

— Keith Bear

“Thammarak has identified and described some of the most critical areas for central banking in the next decade.”

“Thammarak has identified and described some of the most critical areas for central banking in the next decade. The rapid pace of development in digital payments, and central banks’ involvement in them through instant payment and settlement systems and – potentially – both wholesale and retail CBDCs will change the global payment landscape permanently. Increasingly central banks will have the means and opportunity to directly influence payment markets, and the way they use this influence will have profound implications for regulation, competition, resilience, financial stability and inclusion. Central Banking at the Frontier set out the challenges and identifies the tools that will be needed by central banks to meet them. As Thammarak makes clear, the future will be very different from the past”.

“This book shows, compares, and illustrates the
evolving developments on which central banks might choose to tackle current and
future challenges from digital disruption.”

“Digital disruption is a complex, multi-faceted
issue.  Writing in a remarkably readable style, this book shows, compares,
and illustrates the evolving developments and the paths on which central banks
might choose to tackle current and future challenges from digital
disruption.   An essential read for central bankers, practitioners,
academics, students, and market participants who want to understand and help
shape the emerging digital financial landscape.”

— Dr. Vachira Arromdee

“Thammarak’s survey of digital identity will be invaluable to central bankers as they seek to understand the role digital identity should play in financial services and the digital economy.”

“Digital identity is foundational to a safe, secure, privacy respecting and inclusive digital economy. It is however a complex and fragmented topic with many previous attempts to establish ecosystems and much work ongoing both in the private and public sectors. Thammarak’s survey of this work will be invaluable to central bankers as they seek to understand the role digital identity should play in financial services and the digital economy more broadly and consider the role that central banks should play in developing, promoting and regulating policies and frameworks in this area”.

— Steve Pannifer