Digital Money: Operational Risks and the Threats to Operational Resilience
First published:
ISBN: 9781782724506
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Acknowledgements
Acknowledgements
Introduction: Money is information on the move
Trends in digital money
How digital money creates new operational risks
Operational risk and cryptography
Operational risks of digital money
Commercial bank digital money
Private digital money, including cryptocurrencies
Public digital money, including CBDCs
Impact of digitisation on operational risk management
Impact of digitisation on operational risk organisations
Impact of digital money and operational resilience on ORM processes and people
Impact of digitisation on operational risk management in the future
Theory of money
Information theory
Classical cryptography
Modern cryptography
Conclusion
Acknowledgements
Appendix 1: Significant contributors to information theory and cryptography
Appendix 2: Timeline of significant contributions to information theory and cryptography
Appendix 3: Relevant information standards
Appendix 4: High-level risk registers
Bibliography
The genesis for this book began in the dark days of the Covid pandemic in late-2020, where the idea of authoring a book covering the multitude of different developments occurring in digital money came to mind.
This book cuts across several disciplines and in the process of developing the content, I have corresponded with many experts in various fields, mainly but not exclusively, using LinkedIn in conversations where numerous ideas were proposed, discussed, expanded and some rejected as unworkable.
There are too many colleagues and correspondents to acknowledge here but some deserve special mention for their experience, expertise and especially clarity of vision: Michael Grimwade on Operational Risk Management; Dr Jeffrey Funk, Dr Guan Seng Khoo and Keith Sherringham on Technology and Innovation; Aleksi Grymm and John Kiff on CBDCs; Martin C.W. Walker on Commercial Banking and Stablecoins; Alan Llyod and Tony Mackay on complex technologies in Banking and Markets; Stan Cole, Tord Coucheron, Tim Hart and Grant Halverson on Payment Systems; Professor Kelvin Low and Dr. Rosa Giovanni Baresi on the Law and Cryptocurrencies; Bob Seeman on Cryptocurrencies; Dr Fred Jumelle on Identity and
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