In this post I explore how legal title to publicly listed shares works in Hong Kong, the USA, and Singapore. Then I relate this to tokens recorded on blockchains.Continue reading “Who legally owns all the shares? Not you.”
In this post I describe why freeing financial assets from the books of custodians and returning control of them to their owners as tokens could create significant benefits to an economy. This brings together concepts from traditional finance, cryptocurrencies, and enterprise blockchains.Continue reading “Banking When the Bank is Shut – Token Maximalism”
Last December I was approached by a publisher, Mango, who asked me if I would write a book about blockchain technology. A little nervously, I agreed, and I’m excited to announce the result of six months of effort:
The Basics of Bitcoins and Blockchains is an essential guide for anyone who needs to learn about cryptocurrencies, ICOs, and business blockchains. Written in plain English, it provides a balanced and hype-free grounding in the essential concepts behind the revolutionary technology.
I wrote The Basics for an audience of business people, students, practitioners, and those who are simply interested in this technology. I tried to make it entertaining even for those who are already working in the cryptocurrency or blockchain industry. For example, did you know:
There has been a lot of hype around central banks, interbank payments, blockchains, and central bank digital currencies (CBDCs), but the narrative has become confusing and often misses the point. What’s going on? Actually two independent things are being actively explored:
- Decentralisation of interbank payment systems
- Wider access to digital central bank money (Central Bank Digital Currencies – CBDCs)
I aim to explain them both in this post.
How do banks pay each other? In most countries, when banks want to transfer money to each other, perhaps upon instruction from a customer, they don’t put bundles of banknotes in vans, they pay each other digitally. How does this work?
This post is intended as a primer about payment systems and explains correspondent banking, nostros, real time gross settlement (RTGS) systems and deferred net settlement (DNS) systems. It supports other posts where I discuss decentralisation of these systems using distributed ledgers.
This post aims to explain the various common forms of money that exist today, and the words we use to describe them.
The full audio episode is here and I recommend subscribing to the podcast if you are in to FinTech. A transcript of the relevant section is below, edited for clarity:
How should incumbents, startups, and VCs think about FinTech, disruption, and blockchains?
Here we learn the differences and dynamics between disruptive innovation, sustaining innovation, and efficiency innovation. Each of them interact with the others, and the appropriate approaches and defence strategies differ. I then provide my own thoughts on how this framework relates to FinTech for incumbents, startups, and venture capitalists.