Here’s what I think is going on with digital assets and security tokens and why it’s the most exciting thing going on in finance right now.
There are two parallel streams of innovation: A new technology, and increased automation.
Continue reading “Tokenisation – Innovation in Capital Markets”
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.”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:
I aim to explain them both in this post.
Continue reading “The hype around central banks, digital currencies, and blockchains”
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.
Continue reading “A Gentle Introduction to Interbank Payment Systems”
This post aims to explain the various common forms of money that exist today, and the words we use to describe them.
I was honoured to be invited to Brett King’s Breaking Banks podcast to talk about Bitcoins and blockchains with an Asia angle in the “BITCOIN & BLOCKCHAIN IN ASEAN” episode.
Rob Findlay, CEO and founder of Next Money (formerly Next Bank) hosted the conversation, and Marcus Swanepoel, CEO of BitX also shared his insights.
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?
Over Chinese New Year I read about Professor Clayton Christensen’s fascinating model for identifying and dealing with disruptive innovation, and attempt to summarise it in this post.
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.
