Here at Fnality International, we were pleased to see Christina Segal-Knowles, Executive Director, Market Infrastructure Directorate at the Bank of England address the challenges and opportunities in payments post Covid on 11th June 2020. The key points that we take from the speech are as follows:
Solving for on-chain payment in wholesale banking
'Stablecoins' are typically viewed as a proxy for money, so we do need to be careful about their use and the potential risks that they create. To this end, the FSB has authored a paper on stablecoins: "Addressing the regulatory, supervisory and oversight challenges raised by “global stablecoin” arrangements”.
Do we need to change thinking on value-date i.e. the date on which a transaction actually takes place? We’d love to hear your views.
Fnality International can confirm that we are adding Adhara to our ecosystem of vendors as a trusted partner, specifically on the design, configuration and implementation of the blockchain elements. This is in line with our long term goal to pursue an open collaboration model for multiple partners for development of the Fnality Global Payments and associated software products. Adhara’s experience of working with Commercial Banks, Central Banks and Exchanges on Liquidity Mgt, FX and Payments provides broad input to Fnality at this stage of our journey.
Blockchain is? Pick a headline: a) the global panacea for lots of ills, or b) all hype and more talked about than actually used. Does it matter? Unequivocally, it does. Well, at the very least, for those of us in Financial Services.
Is the DLT potential real, why haven’t we realised it, will we ever realise any of it? These are all questions worth examining. Here’s my view as we end 2019 and plan for progress in 2020. It’s a long piece; your feedback is really welcome.