to better inflation nowcasting : websites of retailers and retail chains, websites disclosing or comparing product prices, as well as government websites with information on administered prices. this enables us to cover directly from the web around 90 % of the cpi basket. we calculate the cpi in line with the methodology of the statistical office. the whole process of inflation nowcasting based on web scraping is automated, i. e. both data scraping and processing are automated, which enables us to monitor inflation on a weekly or even daily basis. unlike most comparable international practice, our methodology is based not only on prices for online shopping, but on all relevant information on prices. namely, most other inflation nowcasting methods, described in the relevant papers, mainly give a partial inflation estimate ( nowcasting only individual cpi components, primarily food ), while our model provides for a comprehensive inflation nowcast in real time. i am proud to always point out that we were among the first in the world to introduce the instant payment system, as the most perfect payment method that currently exists. recently, we recorded a record number of transactions performed in one day – as many as 360, 741 transactions. the system provides for the execution of transactions via standard channels, but also for a fast and easy payment of bills by scanning the nbs ips qr code, transfer of funds to the payee registered for the service by selecting his / her mobile phone number from the contact list, payment at physical points of sale by scanning / generating the ips qr code, as well as at online points of sale by deep link technology. we have also made available on the nbs ips system website the generator and validator of nbs ips qr codes. instant payments at points of sale have significant advantages for merchants compared to card payments because of lower costs compared to paying with cards of international card systems, as well as because the merchant has the funds available on its account in a few seconds. and that is the goal when we talk about the development of technology and fintech – creating additional value with the most modern service at lower costs. seneca says : " if a man knows not to which port he sails, no wind is favourable ". translated onto the financial sector – there can be no success without recognising market needs and without a clear goal we wish to achieve. at the same time, like any innovation, new concepts of financial services provision also carry risks related to cyber security, data

protection, concentration of market participants. new concepts of risk management are therefore expected from 3 / 4 bis - central bankers'speeches supervisors as well – suptech is dedicated to improving supervision and analytical capabilities through technologies aimed at streamlining procedures and greater efficiency of data processing. i already mentioned artificial intelligence, which especially with the appearance of chatgpt and bard became topic number one, but another current topic in the world of central bankers is central bank digital money. around the world, the benefits and risks of introducing cbdc are being analysed, which we are doing, and in a smaller number of countries pioneering attempts to introduce cbdc on a limited scale have been undertaken. different forms of cbdc are possible, with different implications for the monetary policy transmission mechanism, for the stability of the financial system and for payment systems – hence the caution. nevertheless, in the countries with the highest degree of development of cashless payments and financial inclusion and which already have the most modern payment infrastructure, including serbia, the potential of cbdcs is mostly considered to be their use for the needs of cross - border payments, where there is a lot of room for improvement at the global level. in the previous period, we actively worked on the regulation of a more important topic for us – digital assets. we have regulated the provision of services related to digital assets. one of the possibilities brought by the new law is the facilitated financing of companies through investment tokens. as for virtual currencies, we have improved to the extent possible the standards related to the prevention of their abuse. the national bank of serbia has also prepared most of the functionalities of the user application for the use of the central register of e - bills ( crem ), and in the coming days, as an upgrade to the testing that is already underway, it will enable banks to initiate and test the appropriate actions that their users would carry out through the crem. with a view to further supporting the startup ecosystem in the republic of serbia and providing in one place information on startups operating in our country, we have created a startup register and i am using the opportunity to invite all interested startups to contact us in order to be included in the register. with the wish to have as many quality ideas as possible on the financial services market of the republic of serbia and those who are ready to put them into action in their country, i warmly greet you until we meet next time. 4 / 4 bis - central bankers'speeches