Contingency and Digital identity: Difference between pages

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1. ''Financial reporting - business planning.''
1. ''Treasury - risk management - cyber security - individuals - banking - finance.''


Broadly, any uncertain future event.
In the context of banking and financial transactions, a digital identity is a mechanism for an individual to prove their identity, without presenting physical documents.




2. ''Financial reporting - IAS 37.''
:<span style="color:#4B0082">'''''Risks and opportunities of Central Bank Digital Currencies (CBDCs)'''''</span>


For financial reporting purposes, IAS 37 defines a contingent liability by reference to the occurrence - or non-occurrence - of uncertain events not wholly within the control of the entity.
:"Professor Bill Buchanan OBE presented on the risks and opportunities of CBDCs from a technology perspective.  


IAS 37 defines a contingent asset in a similar way.
:He addressed the role of AI, quantum, cybersecurity, and programmable payments.  


:Members discussed how different forms of technology such as distributed ledger technology or digital identities may change the role of banking and finance."


3. ''Business planning.''
:''UK CBDC Academic Advisory Group - March 2024.''


An uncertain future event.


Usually - but not always - one that is expected to have a negative impact if it were to occur.
2.  ''Treasury - risk management - cyber threat - cyber security - individuals - banking - finance.''


 
The totality of information about an individual's online activities, including the potential for criminals to impersonate the individual if the information is compromised.
4. ''Financial management.''
 
An amount of money set aside to deal with the potential negative impact of an uncertain future event.
 
 
 
4. ''Financial management.''
 
An amount of money set aside to deal with the potential negative impact of an uncertain future event.
 
 
5. ''Cash management - treasury - tokenisation - central bank digital currency (CBDC) - distributed ledger - platforms - programmability.''
 
In the context of programmability, contingency is the ability to write and input code that enables the performance of actions, contingent on other actions having been completed, or other important conditions being present.
 
 
:<span style="color:#4B0082">'''''Benefits of programmability & contingency'''''</span>
 
:"Tokenisation – the process of recording claims on financial or real assets that exist on a traditional ledger on a programmable platform – introduces two important capabilities.
 
:First, by dispensing with messaging and the reliance on account managers to update records, it provides greater scope for composability, whereby several actions are bundled into one executable package.
 
:Second, it enables the contingent performance of actions through smart contracts, ie logical statements such as “if, then, or else”.
 
 
:By combining composability and contingency, tokenisation makes the conditional performance of actions more readily attainable, even quite complex ones...
 
:Moreover, programmability allows new types of contingent payment, while certain policy measures (eg capital controls) can be built in from the start."
 
:''Bank for International Settlements (BIS) Annual Economic Report 2023, pages 89 & 91.''




==See also==
==See also==
* [[Bank for International Settlements]] (BIS)
*[[Advanced Persistent Threat]]
*[[Business contingency management]]
*[[Artificial intelligence]] (AI)
*[[Business continuity plan]]
*[[Authentication]]
* [[Cash management]]
*[[Central bank digital currency]] (CBDC)
* [[Central bank digital currency]] (CBDC)
*[[Council to Secure the Digital Economy]]
* [[Code]]
*[[Credential compromise]]
* [[Composability]]
*[[Cyber security]]
* [[Contingency plan]]
*[[Cyber security: protecting your business and your clients]]
* [[Contingent]]
*[[Cyber threat]]
* [[Contingent assets]]
* [[Cybercrime]]
* [[Contingent capital]]
*[[Cybercrime – A Threat And An Opportunity]]
* [[Contingent convertible capital]]
*[[Digital footprint]]
* [[Contingent covenant]]
*[[Distributed ledger]]   
* [[Contingent item]]
*[[Malware]]
* [[Contingent liabilities]]
*[[Quantum]]
* [[Contingent risk]]
*[[Ransomware]]
* [[Contingent Term Repo Facility]]  (CTRF)
*[[Risk management]]
* [[Deal contingent forward]]
*[[Strong Customer Authentication]]
* [[Distributed ledger]]
*[[Treasury]]
* [[Financial reporting]]
*[[Two-factor authentication]]
* [[IAS 37]]
*[[Whaling]]
* [[Payment]]
* [[Platform]]
* [[Programmability]]
* [[Reserves]]
* [[Tokenise]]




==Other resource==
==Other resource==
*[https://www.bis.org/publ/arpdf/ar2023e3.pdf Bank for International Settlements (BIS) Annual Economic Report 2023]
*[https://edu.bankofengland.co.uk/minutes/2024/march/minutes-of-cbdc-academic-advisory-group-march-2024 Minutes of the UK Central Bank Digital Currency (CBDC) Academic Advisory Group - March 2024]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Financial_products_and_markets]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:The_business_context]]
[[Category:The_business_context]]

Latest revision as of 10:18, 30 July 2024

1. Treasury - risk management - cyber security - individuals - banking - finance.

In the context of banking and financial transactions, a digital identity is a mechanism for an individual to prove their identity, without presenting physical documents.


Risks and opportunities of Central Bank Digital Currencies (CBDCs)
"Professor Bill Buchanan OBE presented on the risks and opportunities of CBDCs from a technology perspective.
He addressed the role of AI, quantum, cybersecurity, and programmable payments.
Members discussed how different forms of technology such as distributed ledger technology or digital identities may change the role of banking and finance."
UK CBDC Academic Advisory Group - March 2024.


2. Treasury - risk management - cyber threat - cyber security - individuals - banking - finance.

The totality of information about an individual's online activities, including the potential for criminals to impersonate the individual if the information is compromised.


See also


Other resource

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