Founder of European Stock Exchange Launches Blockchain Startup
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From a Peter randall blockchain perspective FinTech is an essential peter randall blockchain of the future. This is particularly true in a post-Brexit world where there are other challenges ahead and the ability of technology processes to improve peter randall blockchain experience, reduce costs and change risk profiles is an essential part of the overall equation. This sandbox development is very powerful from a credibility peter randall blockchain of view as there can be no dispute about the potential of this idea.
The FCA Sandbox environment provides SETL and other firms with a safe place to test our blockchain based payments solution before we go live and receive regulatory approval. I think the FCA is to be commended for their foresight, its sandbox initiative and its commitment to making it work. I have been dealing with regulatory bodies for around 33 years and I have not had as much constructive conversations as I have had with the FCA around the sandbox developments as they have listened to industry concerns on the subject.
Lets think about consortia which we have seen before. I remember the Global Straight Through Processing Association a big consortium that eventually did not work because participants could not align the right business person with the right process. The whole point about financial market infrastructure regulation is that it is as peter randall blockchain opined about by more people who know nothing about it than anything else in finance.
So is it appropriate before a DLT system is used in a widespread way to peter randall blockchain it? At the beginning there is nothing to regulate. The more interesting point is how does the regulator maintain their distance from the incumbents who would like to make sure that changing technology does not disintermediate them.
There is an inherent tension between FinTech innovations and financial markets implementation. They tend to sit under different business lines within organisations. The point about implementation is that I have never met anybody who works in innovation, at any financial institution, who has had a budget to work with. The people with budgets are the businesses heads.
When you talk to the businesses, they are going to ask simple peter randall blockchain How is this going to shrink my cost base? Have you done this before and who is on your board? Unfortunately they peter randall blockchain a critical mistake, they only looked at everyone else who was a CSD.
Therefore there is now an enormous groundswell of opinion for a group of custodians to disintermediate those services that they no longer require to be provided by a specialist provider as they can do it themselves.
