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Blockchain Technology & Finance: For Better or Worse?

594dd1efdecf5b4b5305f6d859a3c0a2?s=47 Angela Walch
October 06, 2017
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Blockchain Technology & Finance: For Better or Worse?

Presented at the Center for International Securities & Derivatives Markets Annual Research Conference, Boston, MA, Oct. 6, 2017. The CISDM is based at the Isenberg School of Business at UMASS-Amherst.

594dd1efdecf5b4b5305f6d859a3c0a2?s=128

Angela Walch

October 06, 2017
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  1. BlockchainTechnology & Finance: For Better or Worse? Angela Walch Associate

    Professor St. Mary’s University School of Law Research Fellow UCL Centre for BlockchainTechnologies CISDM Annual Conference, Boston Oct. 6, 2017 1 UCL CENTRE FOR BLOCKCHAIN TECHNOLOGIES
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  3. How We’ll Proceed • The Financial Sector’s Enchantment with Blockchain

    Technology. • Why we should care. • Is Blockchain Technology “the one”? October 6, 2017 A. Walch, CISDM Annual Conference 3
  4. How Do I Love Thee? • Immutability • Truth •

    Trustlessness • Security and Resilience October 6, 2017 A. Walch, CISDM Annual Conference 4
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  6. Why We Should Care • Finance’s most critical systems involved.

    – Clearing & settlement systems – Central securities depositories – Payment systems – Central counterparties – Trade repositories • How finance tracks who owns (& owes) what. • Critical to maintaining financial stability. October 6, 2017 A.Walch, CISDM Annual Conference 6
  7. Protecting Critical Systems • Global regulators set standards to mitigate

    operational risks to important financial systems. (Principles for Financial Market Infrastructures, 2012). – Identify operational risks (internal and external) – Set up systems to mitigate them. – Design systems with high security / reliability / scalability. – Design for quick recovery in event of disruption. October 6, 2017 A. Walch, CISDM Annual Conference 7
  8. How Well Do We Really Know Blockchain Technology? • Immutability?

    • Truth? • Trustlessness? • Security and resilience? October 6, 2017 A. Walch, CISDM Annual Conference 8
  9. Recommendations • Ask the hard questions. • Insist on precise

    communication. • Be alert to hype. • Consider the source (and the source’s incentives). • Seek diverse perspectives. • Doubt everything; assume nothing. • Resist peer pressure. October 6, 2017 A. Walch, CISDM Annual Conference 9
  10. Angela Walch angelawalch.com Twitter: @angela_walch awalch@stmarytx.edu UCL CENTRE FOR BLOCKCHAIN

    TECHNOLOGIES I now pronounce you Critical Thinkers. Thank you!