The first company to participate featured the use of an electronic wallet. Growth of this medium, whether by traditional players or new entrants has the potential to reduce substantially the use of cash and create flexibility in the choice of instruments available to citizens.
1/3  BIS central bankers' speeches  We anticipate that specific payments legislation and regulation will emerge from our efforts in these areas. Finally, we have transitioned to the issuance of government securities in a dematerialized format, with the expectation that secondary trading of securities will be made easier.