Anti-money laundering and countering the financing of terrorism screening processes provide integrity to cross-border transactions. How can tokenisation and next generation correspondent banking streamline these processes? #BISBulletin https://t.co/P7TdmZF06N
The #tokenisation of #CorrespondentBanking, as embodied in #ProjectAgorá, could help streamline pre-screening and atomic settlement, and pave the way for collaborative customer verification and anti-money laundering procedures #BISBulletin https://t.co/P7TdmZF06N
#FastPayments are a key innovation that have seen mass adoption in some jurisdictions, but not in others. Adoption may be higher when certain design features are present https://t.co/sO6iPzlnQR
#DigitalPayments#BISQuarterly
#FastPayments adoption tends to be higher when the central bank owns the system, when non-banks participate and when the number of use cases and cross-border connections is greater. Priscilla Koo Wilkens and Vatsala Shreeti explain #BISQuarterly https://t.co/sO6iPzlnQR
A user-centric approach, robust infrastructure, clear rules and effective governance are important design features for adoption of #FastPayments. Find out more: https://t.co/sO6iPzlnQR
#BISQuarterly
Greater transparency about #Stablecoin reserves has an ambiguous effect on run risk when reserves are not volatile. When reserves are volatile, stablecoin pegs can withstand small shocks but not large ones #Crypto#Runs https://t.co/2iGULQli0V
Digitalisation is a powerful force for emerging markets, but #DigitalDivides persist. Quality improvements and decreasing income inequality are strongly linked with digital technology adoption. Targeted subsidies are one option to expand #Digitalisation https://t.co/50FRsVStPT
Achieving the core principles of crypto-based #DeFi reliant on oracles has drawbacks: it adds inefficiencies from consensus mechanisms and it needs to sacrifice “trust in intentions”. A centralised, trust-based system may offer an alternative path https://t.co/DjGqTNX4kK
Decentralised oracles could lower manipulation in #DeFi but integrating trust in an inherently trustless system needs more than full decentralisation. Crypto-based #DeFi is likely to remain the preserve of cryptoassets, not real-world assets https://t.co/DjGqTNX4kK
Crypto based #DeFi relies on oracles to import real-world data into their blockchain applications, but these centralised third parties introduce risks and inefficiencies. Can we overcome these problems? #Decentralisation#Blockchain https://t.co/DjGqTNX4kK
.@daeaves@prikoo@mamcnaughton and I will kick off the 7th #TheEntrepreneurialState2.0 festival talk @IIPP_UCL discussing the opportunities and challenges of #DPI for public good.
5:30PM British Summer Time | 10:30PM Bangladesh Standard Time
Register:https://t.co/3cwSUDjN6S
The Entrepreneurial State 2.0 Festival continues this week, at 17:30 BST on 15/6, with 'Digital Public Infrastructure for the Public Good' with @daeaves, @prikoo, @mamcnaughton & @anirchowdhury.
Tickets 🎟️https://t.co/66WYBFxdHt
Festival info ➡️ https://t.co/WLNQxH9xxL
Our #TheEntrepreneurialState2 .0 Festival continues one week today at 17:30 BST! Deputy Director @daeaves and @prikoo from @BIS_org will discuss what digital infrastructure is needed for innovative and agile public goods and services.
Info/tickets ➡️ https://t.co/66WYBFxLx1
👀#ReadingTips
Today @BIS_Org published a fantastic introduction to tokenisation, exploring its benefits and, above all, challenges🪙
These are related to the characteristics of each specific asset to be tokenised, and can be represented on a "continuum" ↔️
#Tokenisation can automate transactions involving money as well as financial and real assets. This opens the way to contingent transfers of claims and combining transactions through #SmartContracts#BISBulletin https://t.co/Xg3BzyW27B
#Tokenisation efforts should concentrate on identifying assets in digital and automated systems with clear legal and regulatory frameworks that are traded in large volumes #BISBulletin https://t.co/Xg3BzyW27B