On 15-16 May 2025, Blockchain@X Research Center — an academic chair of École Polytechnique hosted at CREST — held the second edition of (Back To) The Futures of Money workshop, at the Maison de l’Amérique Latine in Paris.
This two-day interdisciplinary event brought together scholars, policymakers, and industry experts to discuss the evolution of monetary systems, blockchain innovation, and the future of decentralized finance (DeFi). The program featured academic presentations, industry talks, roundtable discussions, and informal exchanges during the breaks and lunches.
The first day explored the economic and geopolitical dimensions of cryptocurrencies. It featured academic presentations by Bruno Biais (HEC Paris), Linda Schilling (Olin Business School), and Cyril Monnet (University of Bern), followed by a roundtable discussion on the geopolitics of payment systems, moderated by Christian Pfister (Université d’Orléans).
In the afternoon, Laurent Camus (Banque de France) introduced the current state of stablecoin regulation, setting the stage for a lively panel discussion with representatives from Circle, Société Générale, and Angle Protocol. The day concluded with academic insights on privacy-preserving payment mechanisms from Agostino Capponi (Columbia University) and on verifying total value locked (TVL) in DeFi from Pietro Saggese (IMT Lucca).
The second day shifted focus to technological perspectives on blockchain and DeFi. It opened with a forward-looking keynote on technology convergence by Sudhir Pai (Capgemini), followed by a session on trust frameworks for AI and blockchains featuring Gilles Fedak (iExec) and Jason Delabays (Zama). The academic segment continued with presentations from Hanna Halaburda (NYU Stern) and Christoph Schlegel (Flashbots), addressing mechanism design and Sybil-resistance on maximal extractable value (MEV).
In the afternoon, Fahad Saleh (University of Florida) and Andrea Canidio (CoW Protocol) presented their perspectives on the interactions between blockchain layers and Ethereum’s immutability. The day concluded with talks from Louis Bertucci (Institut Louis Bachelier), Evgeny Lyandres (Tel Aviv University), and Julien Prat (IP Paris) on lending protocols, quantitative investment strategies, and systemic risk in DeFi.
We extend our sincere thanks to all speakers, panelists, and participants who contributed to the success of this workshop. (Back To) The Futures of Money II reaffirmed the need for interdisciplinary collaboration in navigating the rapidly evolving financial landscape shaped by blockchain technology. We look forward to continuing the conversation in future editions.
The Blockchain@X Research Center at École Polytechnique aims to combine academic excellence with institutional and scientific prestige in order to foster innovation in blockchain. A pioneer in its field and financially supported by Capgemini, Nomadic Labs and Caisse des Dépôts, it brings together scientists in computer science and economics whose research focuses on blockchains and related technologies. The chair also offers a wide range of courses to students at École Polytechnique who wish to learn about this constantly evolving field, and contributes to the organization of international academic conferences such as Tokenomics.