🎙️In the latest episode of our BISness podcast, listen to Agustín Carstens and Siddharth Shetty discuss the Finternet, a vision for the future of the financial system, at the BIS Innovation Summit.

In a session moderated by Cecilia Skingsley, they explain the thinking behind multiple interconnected financial ecosystems designed to empower individuals and firms, which was laid out in a recent BIS Working Paper: https://www.bis.org/publ/work1178.htm

"All of this is inspired, for example, by the history of the iPhone ... we started with pagers, for example, where you just could exchange messages. Eventually we had the apps, but at the end of the day, the iPhone, what it does is bring all of these services together. So if we have each one individual service apart, we will not benefit of the whole. And the whole really makes a big difference," says Mr Carstens.

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