@Jbrookslassiter Not my numbers. a panel including folks from the big asset and investment managers reckoned we were talking about c$5-15tn each year for 5-7 decades. The actual figure is almost certainly erroneous, but the key point was that the order of magnitude costs dwarf taxpayer capacity
🏗 In a bear market, focus must turn to building for value. Those who can delight customers and solve real use cases can emerge from the downturn as giants.
✅ The evidence and proof that blockchain/defi can materially increase financial inclusion is not yet obvious. Further attention and focus will be required.
⚖️ DeFi will necessitate a re-evaluation of the balance between desired citizen agency, regulatory paternalism and consumer protection. Do those who lost out in Terra|Luna still crave the agency that decentralisation may afford?
❄️The crypto winter may help to close some of the policy/positioning gaps between regulators and industry and ought to drive renewed focus on utility over speculation.
Iteration is a key ingredient of innovation. Start small, learn fast, adapt and scale. There was no playbook for regulatory hackathons when we started out. Today we share our TechSprint playbook for others to use and improve. #FCASprint#Regtech
Today we publish ‘Fostering innovation through collaboration: the evolution of the FCA TechSprint approach’. It explores how the model has evolved and shares insights and learning from all 7 of our #FCAsprints: https://t.co/9g1r3PUs4N #FCAinnovate#regtech
Very excited to share this news and looking forward to collaborating with @RegTech_Nick and others at GFIN to advance regulatory efforts related to responsible innovation.
We have published, alongside @bankofengland and regulated firms, a Viability Assessment report on the latest Digital Regulatory Reporting (DRR) pilot. DRR will potentially allow firms to automatically supply data requested by regulators. https://t.co/hLZUHFKYC0
‘It takes a network to defeat a network: tech in the fight against financial crime’ - our latest guest blog post by Nick Cook, Director of Innovation @TheFCA, highlights the importance of collaboration with organisations like the Royal Society: https://t.co/oAGm7LYwwx #FCASprint
Thanks to @TheFCA for inviting me and @GlobalDigitalFi to join the first podcast in their new Insight Series.
🎧 Link to: Regtech and Data Ethics and Insight series below.