Promotie R. Wandhöfer LLM
Technology innovation in Financial Markets: Implications for Money, Payments and Settlement Finality
The three essays collected in this PhD thesis discuss the implications of technology innovation for settlement finality, cross-border payments and money. The first essay investigates the topic of settlement finality in the context of Proof-of-Work (PoW) blockchains, exemplified by Bitcoin. This is of particular importance as final settlement plays a crucial role in removing settlement risk between counterparties in support of financial stability. The second essay explores whether and how technological innovation, in conjunction with policy measures, can improve the process of correspondent banking cross-border payments and develops a set of potential design scenarios for the future of this business. The third essay offers an alternative perspective on the future role of central bank money as a retail use digital complement to physical cash. The paper develops the rationale for a Eurosystem issued ‘Digital Euro’ and proceeds by delivering a blueprint for the design of such a solution.
Ruth Wandhöfer (1976) graduated with a first class Master in Financial Economics from the University of Dundee, with a summa cum laude Masters in International Politics from the Centre Européen de Recherche Internationale Stratégique and Université Jean Monnet in Paris and with a merit LLM in International Economic Law of the University of Kent. She published two books: “EU Payments Integration” (2010) and “Transaction Banking and the Impact of Regulatory Change” (2014), both Palgrave MacMillan. She is a visiting professor at the London Institute of Banking and Finance and lectures at Queen Mary London School of Law.
She is currently an independent non-executive Director on the boards of the London Stock Exchange Group, Permanent TSB and Pendo Systems Inc. She is also an advisor on regulatory and industry affairs for Coinfirm, a partner at Gauss Ventures and a senior adviser in KPMG’s UK Banking Practice. Prior to that she spent over 11 years at Citi where she was a Managing Director, Global Head of Regulatory & Market Strategy.
She speaks five languages and was named as 2010s ‘Rising Stars’ by Financial News; Management Today’s 2011 ‘35 Women under 35’ list of women to watch (Sunday Times), and one of the 100 Most Influential People in Finance 2012 (Treasury Risk Magazine). In 2015 she received the ‘Women in Banking and Finance Award for Achievement’ and featured on the 2016, 2017 and 2018 global ‘Women in Fintech Powerlist’ of Innovate Finance. In 2018 she became one of the Top 10 Global Fintech Influencers (Fintech Power 50).
- Locatie: Cobbenhagen building, Portrettenzaal (ingang via Koopmans buiding)
- Promotores: prof. dr. R.J. Berndsen, prof. dr. B. Casu Lukac