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International Online Forum “Virtual currencies : Exploring a Potential Role for Postal Operators”



08:45 – 09:00 WebEx connection set up



09:00 – 09:05 Opening remarks and introductions – USPS OIG Global Team and the UPU



09:05 – 09:10 Introductions – Christian Jaag, Swiss Economics (Moderator)



09:10 – 09:25 Virtual Currencies: Definitions and Drivers of Growth – Jerry Brito, George Mason University



09:25 – 09:35 Legal and Regulatory Issues Facing Virtual Currencies – Michael Bombace, Booz Allen Hamilton



09:35 – 09:50 Bitcoins: Lessons Learned – Patrick Murck, Bitcoin Foundation



09:50 – 10:00 Can Bitcoins Rival or Even Replace Existing Currencies? – François Velde, Federal Reserve of Chicago



10:00 – 10:10 Open discussion



2nd Part: Postal Operators and the New Virtual Payments Space



10:10 – 10:20 Virtual Currencies: What Role for Postal Operators? – Christian Jaag



10:20 – 10:30 Facilitating Transactions Not Pegged to National Currencies: A Role for the UPU – José Anson, Economist, UPU International Bureau



10:30 – 10:50 Virtual Currencies, Payment Systems, and Financial Inclusion - Massimo Cirasino, Head of the Payment Systems Development Group, World Bank



10:55 – 11:25 Open discussion, moderated by Christian Jaag - Comments from discussant Michael Bombace



11:25 – 11:30 Wrap up and closing remarks



Virtual currencies - new peer-to-peer electronic payment tools not subject to regulatory oversight - are increasing in popularity. They are seen as potential substitutes for conventional payment networks, and might have the power to disrupt mainstream financial systems.



In this workshop, experts from the global postal and financial sectors will discuss the benefits and shortcomings of virtual currencies and explore potential roles for postal operators in the new virtual payments space.



About the Organizers



Risk Analysis Research Center



The U.S. Postal Service Office of Inspector General (OIG) plays a key role in maintaining the integrity and accountability of America’s postal service, its revenue and assets, and its employees. Its mission is to maintain confidence in the U.S. postal system by minimizing fraud, waste, abuse, and other postal crimes.



Within the OIG, the Risk Analysis Research Center (RARC) conducts research on strategic economic and business issues related to the Postal Service. RARC's staff includes economists, operations researchers, and policy analysts.



To find out more, visit the OIG homepage at: www.uspsoig.gov (http://www.uspsoig.gov/), and check out RARC’s white paper library in RARC’s reading room (http://www.uspsoig.gov/document-library?type=All&field_doc_date_value%5Bvalue%5D%5Bdate%5D=&field_doc_cat_tid%5B%5D=1922&=Apply).



Universal Postal Union



The Universal Postal Union (UPU) is a United Nations specialized agency, headquartered in Bern, Switzerland. With 192 member countries, the UPU is the primary global forum for cooperation between postal sector players. The organization fulfills an advisory, mediating and liaison role, and provides technical assistance where needed. It sets the rules for international mail exchanges between national postal operators. It also makes recommendations to stimulate growth in mail, parcel and financial services and improve quality of service for customers. In 2013, the UPU signed a Cooperation Agreement with the USPS OIG aimed at promoting joint research projects and activities in areas of mutual interest. For more about the UPU, visit their homepage at: www.upu.int (http://www.upu.int/).



WebEx Instructions



Topic: International Online Workshop: Virtual Currencies

Date: Wednesday, January 29, 2014

Time: 8:45 am, Eastern Standard Time (New York, GMT-05:00)

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