Over 100 financial experts and high-ranking central bank officials attended the webinar and raised constructive questions to the panelists. Together with experts from the European Central Bank (ECB) and Bank of Canada, TCSA shared unique insights on data management and unveiled an innovative solution – the National Data Brain, which won recognition not only from central bankers but also their financial counterparts.
During the webinar, Mr. Howard Chang, the VP of Global Affairs at TCSA, investigated the problems standing in the way of international economic development, including the diminishing efficacy of monetary policies worldwide as well as the lack of hard value anchor in among major currencies. Especially since the profound aftermath of the 2008 global financial crisis and the current Covid-19 pandemic, Mr. Howard Chang indicated that central banks ought to step up and play an essential role in the new era of data-driven policymaking.
According to Mr. Chang, the National Data Brain organizes data into a standardized package, which helps synchronize, aggregate and process massive amounts of data nationwide. Furthermore, the National Data Brain is built upon the existing central bank systems, enabling the real-time collection of the most ubiquitous source of information – monetary transaction data.
Mr. Per Nymand Anderson from ECB and experts from other financial authorities spoke highly of the concepts behind TCSA’s National Data Brain, especially regarding national-scale data collection and standardization, as well as the importance of data integration in dealing with existing data silos. Various central bank representatives attending the webinar also raised diverse questions towards TCSA’s solution, asked for detailed information, and proposed their intention for further discussion and collaboration after the meeting.
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