This roundtable reflects Elevandi’s commitment to developing the infrastructure to support the adoption of new technologies. Following on from the 2023 Point Zero Summit debate, “Who Will Emerge the Digital Money Winner: Stablecoins or Tokenised Deposits?”, the Insight's Forum saw a public-private roundtable consider the Rules to power a stablecoin driven economy
As digital assets are gaining importance, stablecoins, tokenised bank deposits and deposit tokens promise the facilitation of payments. At the same time, regulatory bodies and standard setters of financial markets have identified a number of issues which call for close attention.
Operating within the theme of Decoding Digital Assets and Payments, this roundtable looks at the international regulatory landscape for stablecoins, tokenised bank deposits and deposit tokens and focusses on ‘lessons learned’ from ongoing regulatory initiatives worldwide. What is needed to reconcile the promise of innovation with the need for sound regulation? What regulations are sensible from a financial stability and monetary policy perspective?
This is one of two discussions surrounding stablecoins which brings together views on this issue from regulators, standard setters, stablecoin issuers, commercial banks and academics at the Insights Forum. Find out more at the "Stablecoins in the monetary system of the future" session, which aims to provide guidance to regulators, support commercial banks in adapting to the evolving landscape, and encourage FinTech innovation alongside stablecoins.
Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Stablecoins or tokenised deposits
- Rules to power a stablecoin driven economy
Join us for an exclusive session with Stefan Walter, the newly appointed director of FINMA. He will share his strategic vision for ensuring financial stability and resilience in the Swiss financial sector while enabling innovation and growth - in sector and beyond. Drawing from his extensive international experience and insights, he will discuss key topics such as enhancing regulatory oversight, strengthening risk management frameworks, and addressing challenges and opportunities created by an ever-evolving technological and economic landscape.
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Join John Rwangombwa, Governor, National Bank of Rwanda, in an exclusive fireside chat with Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore and Chair of the Board of Directors, Elevandi, as they lay out the African opportunity.
This session explores the transformative impact of digital tokens and blockchain on global finance and governance. Jeremy Allaire, Co-Founder, Chairman & Chief Executive Officer of Circle, will examine the widespread adoption of tokens for incentives and record-keeping, the increasing use of smart contracts in commerce, and the potential of 4th generation blockchains to support billions of users. Join him as he envisions a blockchain-powered future in an exclusive fireside chat with Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore and Chair of the Board of Directors, Elevandi.
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Distributed Ledger Technology (DLT) is revolutionising the financial sector, with the potential to streamline processes, enhance security, and democratise access to financial services. However, as DLT-based solutions transition from traditional models towards algorithmic governance, a critical juncture has emerged.
Operating under the theme of Decoding Digital Assets and Payments, this roundtable brings together policymakers, academics, and financial experts to navigate the legal and regulatory complexities arising from the transition towards AI and algorithmic governance in DLT-based finance.
This discussion will delve into the specific challenges and opportunities that arise with this shift, including issues of sustainability, transparency, accountability, and potential biases within the algorithms themselves. By exploring these key areas and considering the potential integration with Artificial Intelligence (AI) and eventually Internet of Things (IoT), the roundtable seeks to contribute to the creation of a sustainable, robust and secure future for this transformative technology. For example, a DLT-based micro-loan platform could leverage on AI algorithms to automate document verification, creditworthiness assessment and loan approvals, potentially reducing processing times, fraud risks and increasing financial inclusion. However, ensuring that these algorithms are unbiased is crucial to prevent discrimination against certain borrowers.
Attendees who wish to familiarise themselves with the topic may refer to the reference materials here.
This roundtable furthers Elevandi’s focus on developing the digital public goods, including at the 2023 Singapore FinTech Festival and 2024 Japan FinTech Festival.
Operating under the theme of Decoding Digital Assets and Payments, this roundtable will inform policy and business leaders on how data ecosystem development and cross border data policies may impact emerging digitalization agendas within trade, finance and sustainability. Alongside the G7 agenda for Data Free-Flow with Trust (DFFT), these areas of economic activity and policy require enhanced mechanisms for trusted and reliable data sharing or analysis across jurisdictional and policy borders.
It aims to enhance awareness and dialogue between different international initiatives shaping policy governing cross-border data flows. There are several key initiatives in this area, each emanating from a different policy domain.
- The DFFT initiative set out by the G7 and G20 aims to promote cross border data flows while respecting privacy, security, and intellectual property rights;
- the CPMI agenda aims to provide support to enhance efficiency, transparency, and safety of cross border payments with interoperability as a key building block; and
- the ICC Digital Standards Initiative convenes trade and finance stakeholders to enable trade digitalization with interoperability and data sharing as primary objectives, and where success relies on the free flow of commercial data in cross border supply chains.
Other initiatives include bilateral digital trade agreements that seek to enhance access to data and systems such as credit bureaus or business registry and legal data normally reserved for domestic institutions or industry members. In this patchwork of critical initiatives, this roundtable provides an opportunity for mutual update and dialogue across to forge more effective, integrated approaches to data governance and flows in support of the global digital economy.
Attendees will be invited to participate in polls and Q&A.
Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Foundations for Cross Border Data Flows to support Digital Finance Trade and Sustainability - From Idea to Implementation
- Shaping data policies through cross-border collaboration
- Digital economy: Data-driven financial services with trade | SFF 2023
The curation of content and speakers was wholly managed by Fireblocks and does not reflect the views of the organisers or its staff.
This industry discussion will challenge the global regulatory stance on public blockchains. We will hear from financial institutions building digital asset businesses on private and public blockchains, debating the merits and challenges of both.
The session will:
- Explore what’s stopping institutions from embracing public blockchains
- Weigh the benefits of control versus scalability
- Discuss collaborative private sector solutions and the interoperability and regulatory requirements they must meet
This roundtable reflects Elevandi’s commitment to advancing adoption of frontier technologies. This includes consideration of the Use of AI/ML in Financial Supervision by Central Banks in a 2024 FutureMatters opinion.
The RegTech Association research has found that the adoption of RegTech or SupTech for supervisors is on the rise with 80% of regulators in the last survey indicating that they had onboarded a solution in the prior 12 months and engagement levels are high. There are still challenges on the needs for regulators and central agencies not being clear on their needs and challenges in onboarding innovation.
Under the theme of Decoding Digital Assets and Payments, this roundtable will be a first step in creating a safe space conversation with supervisors and technology companies. It will feature presentations from BIS and Central Banks from Europe as well as technology companies in the SupTech/RegTech arena. The presentations will be followed by a moderated discussion that will crystallise the points from the speakers and unpack the opportunities, barriers and the new horizons with input from the attendees of the session.
Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Use of AI/ML in financial supervision by central banks
- Building a more diverse suptech ecosystem: findings from surveys of financial authorities and suptech vendors (bis.org)
- The RegTech Association - Industry Perspectives 2023 (regtechglobal.org)
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