The Bank for International Settlements (BIS) will establish 4 additional “Innovation Hub” branches– in Toronto, Stockholm, London and a joint location for Paris and Frankfurt– over the next 2 years in a major growth of its year-old effort to consider the future of money.These brand-new places, announced Tuesday, “will be well placed to advance work”on digital currency and distributed ledger innovation(DLT)together with other central banking problems consisting of cyber security, expert system and digital payments, stated Development Hub chief Benoît Cœuré in a press statement.BIS, often described as the central bank for main banks, also revealed its Innovation Hub will form a tactical collaboration with the U.S. Federal Reserve System.Coming exactly a year after the BIS unveiled its vision to construct an international tech collaborative for its

62 member main banks, the growth solidifies the Swiss-based organization’s diverse drive to breed fintech at the highest levels of financial policymaking.It likewise signifies that the BIS remains serious about including a minimum of part of the lessons of cryptocurrency in those discussions. BIS had formerly charged its existing Innovation Hubs with examining stablecoins, DLT and central bank digital currencies (CBDC), to name a few trends.The most current batch of Hub cities may not amaze those who carefully follow the rather obscure realm of central banking development. The Bank of Canada and Sveriges Riksbank are both considering jobs that might essentially reshape how their citizenry communicates with cash, and the European Central Bank(ECB), represented by Paris and Frankfurt joined the BIS and four other reserve banks in January, including those of Sweden and Britain, to study CBDC.Perhaps more unexpected is the incredible breadth of main banks the year-old Innovation Hub initiative is now set to unify. Patrick Wood is a leading and critical expert on Sustainable Development, Green Economy, Agenda 21, 2030 Agenda and historical Technocracy. He is the author of Technocracy Rising: The Trojan Horse of

Global Change(2015) and co-author of Trilaterals Over Washington, Volumes I and II( 1978-1980) with the late Antony C. Sutton.