Where Finance Finds Its Future

• Exploring convergence opportunities across private and public ecosystems

  A Future of Finance Interview with Richard Brown, Chief Technology and Product Officer at R3.R3 celebrates its tenth anniversary this year. Richard G. Brown, R3’s Chief Technology and Product Officer, speaks to Bob Currie about the drivers for Corda’s design, how these are changing, and how far the company has fulfilled the targets that it envisaged at formation. The discussion explores the potential for convergence of private and public blockchain ecosystems, thereby potentially making a wider range of higher-quality assets available to DeFi investors and tapping into a large pool of demand and liquidity sitting on public blockchain. But what can we say at this stage about the mechanics of building this cross-chain interoperability?In bringing real-world assets to DeFi, we examine how to retain the simplicity and accessibility of permissionless chains while accommodating TradFi’s complex lifecycles and risk protocols.In delivering convergence of public and private ecosystems, we address the difficulties in ensuring that financial institutions, and their regulators, are comfortable in transacting with investors or counterparties operating in a public ecosystem. What are the challenges in delivering the institutional-standard security and finality that these FIs will continue to expect? Hosted on Acast. See acast.com/privacy for more information.

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• Token Markets need liquidity: Where will they get it from?

  On 13 February 2025 BX Digital hosted a virtual seminar that addressed the question: “Token markets need liquidity: Where will they get it from?” The importance of the topic is obvious. A market in which assets can be bought and sold quickly without moving the price is bound to grow more quickly than one in which assets can be bought and sold slowly, if at all, and only by moving the price in an adverse direction. By this criterion, the cryptocurrency markets, let alone the tokenised asset markets, lack sufficient liquidity.The conventional solution is to attract more issuers and investors. Unfortunately, it is fallacious. The experience of traditional markets shows that liquidity is not generated sufficiently by buyers and sellers alone. Furthermore, liquidity must be manufactured by market-makers, lead brokers, securities dealers, inter-broker dealers, exchanges and trading venues, banks, investment banks, and principal and high frequency trading firms. Yet blockchain was invented precisely to get rid of intermediaries such as these. So the purpose of the discussion hosted by BX Digital was to test whether blockchain-based finance can indeed scale without intermediaries, whether tokenisation can make the generation of liquidity more efficient and what exchanges can do to encourage the growth of liquidity.The seminar, held in conjunction with Future of Finance, attracted 116 registrants. They heard Lidia Kurt, CEO of BX Digital, Michael J. Cyrus, Head of Short-Term Products, Equity Finance & FX at DekaBank, Mike Reed, Head of Partnership Development for Digital Assets at Franklin Templeton, Jasmine Burgess, Chief Risk Officer at Coinbase Asset Management, and Lloyd Wahed, Founder and CEO at Members Capital Management, discuss the question from a variety of angles. The registrants contributed to the discussion by completing an on-line poll. Hosted on Acast. See acast.com/privacy for more information.

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• Operationalising CDM to drive post-trade automation for collateralised transactions

  A Future of Finance interview with Ciarán McGonagle, Chief Legal & Product Officer at Tokenovate.Tokenovate delivers post-trade automation for derivatives and securities finance trades. Chief Legal and Product Officer Ciarán McGonagle speaks to Future of Finance’s Bob Currie about how the company is applying blockchain and smart contract technology to build a financial ecosystem that is automated, resilient and efficient.Representing a financial product as a bundle of rights and obligations governed by conditional logic, McGonagle reflects on the flexibility offered by smart contracts in managing the cash flows, transfers of ownership and other lifecycle events associated with these contracts. He explains how Tokenovate’s unused transaction output (UTXO)-based model shapes the legal remedies available to asset owners in case of legal dispute or misappropriation – and how this may differ from other flavours of blockchain.Drawing on his previous experience working at ISDA, McGonagle discusses how Tokenovate is applying the common domain model (CDM) to translate standard representation of key trade terms into real-world systems and workflows. In closing, he reflects on how the company is contributing to public policy formation and potential outcomes from its representations in Washington and Brussels, its work with financial regulators and its participation at New York Climate Week. Hosted on Acast. See acast.com/privacy for more information.

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• Digital Asset Custody 2024 - Panel 5: Digital asset custody: What can possibly go wrong?

  On 4 December 2024 Future of Finance hosted a one-day event at the offices of AON in London. Entitled Digital asset custody: What do asset managers and asset owners need to know about digital asset custody and custodians?, the event attracted 160 registrants from asset managers, banks, custodian banks, digital asset custodians, exchanges, financial market infrastructures, insurers, investment consultants, law firms, regulators and technology vendors. This is an account of what they and the panellists contributed to the seven sessions that day, both live and in the multiple-choice questionnaire they completed in advance, the results of which are also published here.The panellists for this discussion were Laurent Kssis, Board Member and Strategic Advisor to Issuance.Swiss AG; Philip Rage, Director of Strategic Initiatives at Soter Insure; Tariq Rasheed, a Partner at Reed Smith; Jeet Singh, Partner and EMEA Blockchain Leader at EY; and, as moderator, Ed Pugh, Development Director, Fintech and Digital Assets, at Aon. Hosted on Acast. See acast.com/privacy for more information.

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• Digital Asset Custody 2024 - Panel 4: What should you look for in a digital asset custodian?

  On 4 December 2024 Future of Finance hosted a one-day event at the offices of AON in London. Entitled Digital asset custody: What do asset managers and asset owners need to know about digital asset custody and custodians?, the event attracted 160 registrants from asset managers, banks, custodian banks, digital asset custodians, exchanges, financial market infrastructures, insurers, investment consultants, law firms, regulators and technology vendors. This is an account of what they and the panellists contributed to the seven sessions that day, both live and in the multiple-choice questionnaire they completed in advance, the results of which are also published here.The panellists for this discussion were Glenn Morgan, Senior Vice President and Digital Asset Practice Leader at Aon; Anya Nova, Director of Sales, Europe at GK8 Custody; Donald Brouwer, Vice President of Business Development at Dfns; and Tom Pikett, Director and Digital Assets Product Manager at BNY. Hosted on Acast. See acast.com/privacy for more information.

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