Peter Kristensen<\/a>, Co-CEO at JP Fund Services, also stressed the importance of quality and transparency: \u201cyou can run from regulations, but you can\u2019t hide from them,\u201d he said, reflecting on his own professional experience. Derek Mayne, co-Founder of Cresco, championed similar ethics, arguing that his enterprise is built on three pillars: regulation, insurance, and blockchain. It\u2019s this \u201cthree-way balance\u201d that makes Cresco FX products desirable, according to Mayne. But transparency is not easily reached. Borthwick spoke of the challenges of DeFi work in the US; DeFi is based on anonymity, yet \u201cyou cannot move an INEX token to another wallet unless that wallet is whitelisted\u201d – that is, unless it has gone through AML and KYC checks. This restricts the DeFi audience as institutional players are highly sceptical. The landscape is more positive when it comes to individual customers, however, whose number is increasing rapidly. Indeed, digital assets are now being held by an unprecedented amount of digital custodians, sketching out a greater need for interoperability in a young, fresh financial space with no pre-existing standards.<\/p>\nOn this topic, Misra advocated for a hybrid approach, drawing on both centralised and decentralised financial models; while blockchain purists are likely to argue in favour of everything being decentralised, says Misra, \u201clegacy stacks – not just in the exchanges but in the banks – that are decades old aren\u2019t going away anytime soon.\u201d Moreover, the traditional \u2018big players\u2019 were \u201cset up to be b2b\u201d. The transition from b2b to b2c, as advocated by Guarda and Borthwick, was tempered by Misra, who suggested an approach closer to convergence than conversion.<\/p>\n
Closing the discussion, Guarda was more optimistic about blockchain and crypto\u2019s revolutionary capacities, returning to Borthwick\u2019s point about DeFi\u2019s velocity: where the financial demand exists, the regulatory and technological supply will follow. Although crypto exchange structures (centralised or decentralised) were not built on regulation, the move to blockchain driven by more established players in the field (NASDAQ, New York Stock Exchange) changes standard regulatory practice while creating space for new financial services such as security token trading. Therefore, we can expect to see greater cooperation between blockchain and regulatory services – cooperation driven by necessity and mass-scale fintech democratisation.<\/p>\n","protected":false},"excerpt":{"rendered":"
citiesabc and openbusinesscouncil CEO Dinis Guarda\u2019s recent webinar showed the important role that digital assets, NFTs and DeFi will play in the future of the global economy and exchanges. In conversation with fintech pioneers in Europe and the US, Guarda fuelled debates over cryptocurrency and how to bridge the gap between traditional banking and modern […]<\/p>\n","protected":false},"author":7,"featured_media":14201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3626,25],"tags":[19334,19254,19862],"acf":[],"yoast_head":"\n
Dinis Guarda\u2019s LIVE Event Recap: NFTs, DeFi, Digital Assets Are Shaping The Future Of The Global Economy - OpenBusinessCouncil Directory<\/title>\n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n\t \n\t \n\t \n