How is blockchain evolving in TradFi?

In the seventh episode of our new season of Web3 Innovators, our host Conor Svensson is joined by David Creer, Global DLT and Crypto Lead at GFT Group who develop sustainable solutions across new technologies.

He is also a Course Instructor at the European Tech School.

Episode highlights:

• What initially drew David’s interest into the space
• How GFT has evolved into an innovation driven organisation
• How product delivery and production differs within financial services
• Why there used to be hesitation when putting products into production
• How regulation has evolved within the financial sector
• How David sees Crypto developing with banks
• David’s advice for anyone uncertain about the application of blockchain
• The UDPN network project that David has been involved in (The UDPN is a decentralised payments messaging backbone connecting the digital currency systems of the future to enable seamless, efficient payments of regulated stablecoins and CBDCs)
• How David things blockchain will influence the way financial markets operate in the future

Key Takeaways:

The tier one banks and the tier two banks are really only working on things that they want to take into production at this point in time. So that’s a completely different mindset from how things were when we started, where it was, we want to just see whether this is possible. – David

When cloud first came out banks didn’t want to go down that route at all. The policy was non-public cloud. Now a lot of banks are going down that path, which makes sense because it saves them a lot of money and it’s more efficient. – David

If you’re thinking about using blockchain or distributed edge technology for your project, you need to understand your use case really well. – David

It’s quite exciting to be involved in that because potentially that could be a really important piece of infrastructure for the financial system of the future. – David

If smart cities develop the way that they are developing in countries such as China, I think that we will have a financial services system which is much more focused on micropayment. And therefore I think that blockchain technology or cryptographically based stablecoins or CBDCs will be used much more widely. – David

Connect with David on Twitter

Resources:

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