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Cryptocurrency: Path for Decentralized Economy

In today’s financial ecosystem, the focus is on finance and not the physical infrastructure that comes along. This brings us to fintech, which helps economies work on their financial industry without working about historical records. The ecosystem is focusing on banking and not banks. But it is important to understand the reason and logic behind adopting and absorbing cryptocurrency as the new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost.
 
Money is more than just a medium of exchange for people. They have an emotional connection with money. This makes them more risk-averse about it and hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to.

Key takeaways:

- Blockchain, which serves as a building block for a decentralized economy, is the next and newest form of currency via cryptocurrency. With Change in the form of money, it is now important to understand the change in the payment system.

- Among different types to cryptocurrency, when blockchain is used for the operability of cryptocurrency, it is crucial to understand how it will be a perfect piece of the puzzle for it to be used in tomorrow's decentralized economy. Therefore, it is important to understand the evolving technology and how crucial it is to adopt it in a more scalable way.

- Understand the reason and logic behind adopting and absorbing cryptocurrency as a new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost.

- Money is more than just a medium of exchange for people. Hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to.
Recorded Oct 20 2020 44 mins
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Presented by
Arushi Chawla, Research Associate, Blockchain & Digital Payment, Counterpoint Research
Presentation preview: Cryptocurrency: Path for Decentralized Economy

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  • Digital Currency Watchdog - Blockchain: Securely Track and Trace Oct 20 2020 8:00 am UTC 60 mins
    Ranjan Dhar, Group General Manager, Ingram Micro
    Digital currency is gaining propensity as we move to the new era of commerce. Digital payments are already a way of life. Both calls for even greater security to prevent fraud and anti-money laundering.

    Adopting blockchain technology to track and trace the money trail could help detect frauds and sanitize the whole transaction chain as we increasingly adopt the new “buy-pay” paradigm.

    Blockchain is the distributed, public ledger that will be the record-keeping technology behind the digital currency. This webinar aims to give a view of secure transactions as digital currency evolves, using blockchain technology.

    The presenter brings over three decades of experience in the information technology industry. He has worked as a Director Sales in IBM, SAP, Oracle & Symantec. The views expressed are the presenter’s own views.
  • Blockchain, Digital Assets and Regulations outlook in APAC Oct 20 2020 7:00 am UTC 60 mins
    Charlene Su, Director, Group Internal Audit, UBS AG Singapore
    According to a recent report from International Data Corporation (IDC), global spending on blockchain solutions is forecast to reach nearly $4.3 billion in 2020. We are looking at a future where physical assets will be ravages of time and digital assets will sail into the new world. APAC is fast emerging as a world leader in digital asset innovation.

    In this webinar, we will discuss blockchain technology and, on how it accelerated the growth of digital assets businesses, recent development on digital assets regulations including law enforcement on investigations, analytics and anti-money laundering in APAC.
  • Future of money is digital. But can we trust digital currencies? Oct 20 2020 7:00 am UTC 60 mins
    Farah Saleh, Project Manager, Digix
    Blockchain solutions and the advent of regulated digital asset classes represent the next phase in global trade. Blockchain is maturing and regulations are liberalizing to the idea of tomorrow’s digital economy. Stablecoins, Bitcoin and digital gold are just some examples, but how can they form the pillars of our monetary systems?
  • Breaking the Trilemma with Quantum Blockchain Live 60 mins
    Paul R Griffin, Associate Professor of Information Systems, SIS, Singapore Management University
    The well known trilemma for blockchains, originally stated by the founder of Ethereum, Vitalik Buterin, is that it is not possible to maxmise the speed, size and security of a blockchain all at the same time. As one of these features increases one or more of the other two decreases. For example, increasing the size of the network will allow for more attacks, decreasing the security and with more nodes in the network, consensus could take longer, decreasing the performance. This trilemma is one of the greatest hurdles for expanding the use of cryptocurrencies further.

    In this presentation, the key aspects of quantum computing will be introduced and how they are applied to blockchain consensus to break the trilemma. This move from classical computing to quantum computing is shown to theoretically enhance the scalability and speed of distributed consensus as well as improve security. Improvements in consensus speed and scalability are also shown by removing the need for multicast responses by exploiting quantum properties ensuring that only single message transmission is required. Furthermore, current work on quantum key distribution protocols can securely transmit values and prevent a man-in-the-middle attack or system disturbance, enhancing confidentiality and integrity of transmitted information. A proof-of-concept using IBM’s Qskit will be shown to present the current practical feasibility and future work is explored.

    Key takeaways:
    ● Understanding the main features of quantum technologies
    ● Applying quantum computing to blockchains
    ● Breaking the blockchain trilemma
    ● Demonstration of a quantum consensus algorithm
  • Unblocking the digital currency chain Recorded: Oct 20 2020 46 mins
    Bismeet Singh Marwaha
    If you have been following investing, finance, cryptocurrency or just technology in general for the past decade, you have heard of blockchain. In fact, a 1,000 USD spent to purchase 3.801 BTC in June 2015 is worth $34,936.89 in June 2020, a considerable gain of 3493%.

    In this talk, we go over blockchain, the building blocks behind all the Bitcoins and Ethereum and we internalise why it’s deemed to be a technology of the future. We look at the use cases around bitcoin before we get to our two main use cases: finance and currencies.

    We see why banks and the finance industry are going gaga over blockchains and why it is so secure. The “Proof of work” which is the security measure behind blockchain is going to be central to us understanding blockchains. Also, we will have a look at some interesting statistics and how too much optimism can be bad when it comes to finance and the markets.

    "Buy not on optimism, but on arithmetic." -Benjamin Graham

    Key takeaways:
    1. Why BlockChain
    2. Bitcoin and the evolution
    3. Proof of work and Security Mechanisms
    4. The Bitcoin Bubble/Fad
  • Cryptocurrency: Path for Decentralized Economy Recorded: Oct 20 2020 44 mins
    Arushi Chawla, Research Associate, Blockchain & Digital Payment, Counterpoint Research
    In today’s financial ecosystem, the focus is on finance and not the physical infrastructure that comes along. This brings us to fintech, which helps economies work on their financial industry without working about historical records. The ecosystem is focusing on banking and not banks. But it is important to understand the reason and logic behind adopting and absorbing cryptocurrency as the new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost.
     
    Money is more than just a medium of exchange for people. They have an emotional connection with money. This makes them more risk-averse about it and hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to.

    Key takeaways:

    - Blockchain, which serves as a building block for a decentralized economy, is the next and newest form of currency via cryptocurrency. With Change in the form of money, it is now important to understand the change in the payment system.

    - Among different types to cryptocurrency, when blockchain is used for the operability of cryptocurrency, it is crucial to understand how it will be a perfect piece of the puzzle for it to be used in tomorrow's decentralized economy. Therefore, it is important to understand the evolving technology and how crucial it is to adopt it in a more scalable way.

    - Understand the reason and logic behind adopting and absorbing cryptocurrency as a new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost.

    - Money is more than just a medium of exchange for people. Hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to.
  • How Central Banks in Asia are Adopting Blockchain Recorded: Oct 20 2020 58 mins
    Lakshan Abeyawardena, Head of Strategic Business, Hitachi Digital Payment Solutions
    Central Banks in SAARC and ASEAN countries are being more and more receptive to the idea of using blockchain and cryptocurrency. There is an increased interest shown by Central Banks in the region to implement some form of blockchain related solution and we have seen multiple initiatives and pilot projects starting in 2019 and 2020.

    - Why are Central Banks in Asia focusing on enabling blockchain-based services and cryptocurrencies?
    - Interesting uses cases for blockchain-based applications for Central Banks
    - Some of the completed and on-going Central Bank blockchain projects
    - What to expect in 2021 relating to Central Banks and Blockchain?
  • Blockchain Modules Power the "BoAT" Recorded: Oct 20 2020 61 mins
    Karl J. Weaver, Global Biz Dev Director - (BoAT - Blockchain of AI Things), aitos.io
    aitos.io is a stealth embedded software security startup for the integration of IoT and Blockchain ecosystems to offer trusted identity authentication and data privacy preserving computational protection for the integrity of data originating and refined at the edge.

    All trust starts with securing the data at the source of collection, from the sensor to the module to the gateway and then to the cloud. aitos.io has partnered with 9 major cellular IoT module manufacturers and two global mobile network operators to promote the concept of a "Blockchain Module" with our "BoAT" or Blockchain of AI Things SDK middleware framework for the protection of data from the collection source. aitos.io plans to make our "BoAT" SDK the defector standard for protection of data at the source and actively partnering with virtual use cases, global MNOs, Cloud service providers and many IoT device manufacturers to realize the importance of protecting data and integrating IoT with the Blockchain for the integrity of trusted data.

    Karl J. Weaver 魏卡爾
    Global Biz Dev Director - (BoAT - Blockchain of AI Things)
    aitos.io 摩联科技

    Karl J. Weaver is a bilingual-Mandarin speaking, senior wireless industry, mobile payments & device security executive in the smart card/semiconductor sectors. He joined aitos.io in February, 2020 as Global Business Development Director, based in Shanghai. Aitos.io supplies an SDK embedded into cellular IoT modules to allow Apps & services to directly run on the Blockchain with trusted identity and data privacy.
  • The Road to Cashless: Legal framework for digital assets in the Philippines Recorded: Oct 19 2020 50 mins
    Jay-r C. Ipac, Senior Associate, Divina Law
    The speaker will discuss the evolving legal framework for digital assets in the Philippines, including discussions on:

    E-money vs cash. The Philippine central bank has issued the regulatory framework for e-money transactions more than a decade ago. But before the covid-19 pandemic, cash is still king in most commercial and government transactions. The speaker is going to discuss how the pandemic is forcing the government and the public to embrace e-money transactions and discuss some notable initiatives that are taking place in that direction in the Philippines.

    Virtual currencies, virtual assets and digital assets. Virtual currencies officially got Philippine central bank recognition in 2017. From them on, the Philippine central bank together with the Philippine securities regulator, among other agencies, have been very actively involved in creating or attempting to create legal frameworks that would govern activities and transactions involving or surrounding virtual currencies, virtual assets and digital assets. The speaker is going to discuss these legal developments and how the Philippine government attempts to spur a favorable investment climate for activities relating to virtual currencies, virtual assets and digital assets.

    Blockchain: a solution in search of a problem? From the beginning, there has been a lot of hype about blockchain technology and how it is supposed to be the answer to a lot of problems; but more often than not, the hype has failed to deliver. But that might be about to change. The speaker will share some of the most notable financial use-case of blockchain in the Philippines and how these financial use cases provides more than a glimmer of hope to the future of blockchain the Philippines.
  • Selfies & Security: How Fintech Companies Use Your Face To Protect Your Wallet. Recorded: Sep 2 2020 63 mins
    Reinhard Hochrieser, Jumio | Sujata Dasgupta, Tata Consultancy Services | Rachel McLaughlin
    You can pay for groceries and get money out of an ATM with your face. As fintech is enabling a more customer-friendly experience on mobile devices, security hangs in the balance. It is easy to make a transaction, but what are the real steps involved? This webinar will showcase the complex technology and will help financial services companies understand the work that goes on behind the scenes to make some simple and easy processes actually happen.

    Join this panel to learn about:
    - Why biometrics are becoming easier to employ in identity verification
    - The challenges that fintechs face in creating a seamless user experience - even if you're wearing a face mask
    - the nuts and bolts behind complex technology that solves identity fraud

    Panelists:
    Reinhard Hochrieser, VP, Global Product Management, Jumio
    Sujata Dasgupta, Global Practice Head – Financial Crimes Compliance, Tata Consultancy Services
    Rachel McLaughlin, FinTech/RegTech Industry Consultant
  • Aspects of Artificial Intelligence and Machine Learning for FinTech Analysis Recorded: Aug 28 2020 43 mins
    Dr. Balwant A. Sonkamble, Professor in Computer Engineering, Pune Institute Of Computer Technology
    FinTech are adopted world wide in Financial organizations for the growth of businesses and customer satisfaction.
    The advanced machine learning techniques are reshaping the financial services due to its high computing power and ability to analyze the Big Data.
    The Financial Companies are deploying Artificial Intelligence and Machine Learning technologies to streamline the processes, optimize portfolios, decrease risks and reduce the human errors.
    • You'll learn:-
    - The concept of Artificial Intelligence and Machine Learning
    - Need of Artificial Intelligence and Machine Learning in FinTech - Machine learning Process for FinTech
    - Case Study
  • AI under Scrutiny, a Data Protection Perspective Recorded: Aug 27 2020 42 mins
    Judith Ratcliffe, Information Manager and Data Protection Officer, UK Shared Business Services (UK SBS)
    This presentation will be reviewing the following topic areas:

    1) What the Data Protection Legislation and ICO Guidance says about AI.
    2) A little bit of Myth Busting.
    3) What I would like to see in terms of AI developments/AI as a Data Protection Compliance enabler.
    4) My Top Tips for making sure your AI is Data Protection Compliant by Design and by Default.




    (Please note that any views expressed in the talk/presentation/ Q and A, and any handouts/takeaways, other materials, are my own and do not necessarily represent those of my current, employer (or, any past employers). I am not a fully qualified lawyer and my talk/presentation, responses to questions, and any associated materials do not give legal advice.)
  • The Accelerated Need for Analytics in Fraud Prevention Recorded: Aug 27 2020 59 mins
    Dror Shapira, Inviou | David Fleck, Veritable Data | Adam Martin, Progeny | Ian Mitchell, PwC
    Financial services data is being created at a breakneck pace. Because this data is sensitive information on customer and operations, identifying, minimizing and preventing fraud is top of mind. Indeed, regulations & compliance procedures are aimed at ensuring customer data is treated properly. Data & analytics can help ensure compliance with banking regulations. Join this panel to learn about:
    - The new tools are being used to help secure financial services data
    - The strategies involved in safeguarding PII
    - Staying compliant with financial services regulations

    Dror Shapira:
    dror.shapira@inviou.com

    David Fleck:
    DavidF@veritabledata.com

    Ian Mitchell:
    ian.mitchell@pwc.com

    Adam Martin:
    adam@progeny.tech
  • Applying AI/ML strategies that can maximize revenue Recorded: Aug 26 2020 49 mins
    Lin Wang, Principal Data Scientist at Vesta
    How to use machine learning techniques to improve your approval rate while minimizing fraud

    With increased focus on using machine learning as a key pillar in the fraud detection process, it is important for merchants to stay focused on the end-goal of increasing approvals and not leave money on the table. Vesta Data Science team will share some key insights to stay ahead on maximizing revenue and how Vesta makes their customers more and more successful. We will go in depth into the following

    o Machine learning pipeline and automated model refresh and why that is key
    o Ensemble model techniques – getting the best performance from your models
    o Integrating with unsupervised machine learning
  • AI & Machine Learning: Streamlining Decision Making in Financial Services Recorded: Aug 26 2020 55 mins
    Dr Estelle Brack, KiraliT | Michael Robinson, Genpact | Labhesh Patel, Jumio | Clive Elleforde, Sovran
    The banking & payments industry relies heavily on data. From marketing and CRM to internal processes and regulatory compliance, working with data properly can mean the difference between success in failure. But with so much data to work with, and limited time to work to deliver value, human error can result in massive fines, and a loss of customers. AI and Machine Learning are becoming increasingly valuable in keeping financial services operating smoothly and protecting their customers. Join this panel to learn about:
    - How AI can help banks learn about & implement new regulations.
    - How to ensure regulatory filings are correct and done on time.
    - How Machine Learning can help reduce fraud and personalize marketing.
    - And more!


    Panel moderated by:
    Dr Estelle Brack, Founder & Chairman, KiraliT
    Featuring:
    Michael Robinson, Vice President, Insurance UK & EU, Genpact
    Labhesh Patel, Chief Technology Officer and Chief Scientist, Jumio
    Clive Elleforde, Chief Revenue Officer, Sovran
  • Customer centricity through responsible & explainable AI Recorded: Aug 26 2020 48 mins
    Rajeev PAI, Senior Business Consultant, HSBC
    Keeping customers at the heart of its decisions is the mantra to success for businesses who aspire to sustain and grow. Well planned and carefully selected use cases, powered by AI are helping financial services organisations serve customers in far more efficient and creative ways than ever before by bringing the best of Human and machine together.

    In this talk we will explore:
    1. What are some of the real world use cases from banking
    2. What are some of the challenges in adopting AI in banking
    3. What is the way forward for the industry
  • AI for Financial Services, 2020 and Beyond Recorded: Aug 26 2020 49 mins
    Chris Tew VP Sales - Asia Pacific & Alexander Hoffmann Presales Engineer, Artificial Solutions
    Chatbots in Financial Services haven't delivered what we expected. So, what’s next?
    The world’s media is littered with articles stating that Covid-19, and the sudden emptying of call centres, has driven organizations to implement AI to cope with the increased burden of customer contact. All this, whilst in tandem reducing the cost of doing so.

    Additionally, business continuity has become a board room imperative. AI is now seen as a potential opportunity to create future stability and the financial services sector is not immune to this pressure.

    However, by 2020 most financial services organisations had already made significant investments in AI technology with the expectation of increased customer service, dramatically lower costs and a much-reduced reliance on large and expensive call centres. But it didn’t work to plan.
    In this enlightening presentation Chris Tew and Alex Hoffman will discuss why most of today’s AI technology isn’t up to the current industry requirements and what financial services organisation need to think about, now and tomorrow.

    Topics covered include:

    • What’s the root cause of such an AI failure to date?
    • How to address the current issues presented by Covid-19
    • What are the opportunities for AI future innovation?
  • Case Study: Enable Risk Management with Kyligence Intelligent Data Cloud Recorded: Aug 25 2020 51 mins
    Li Kang, Head of North America, Kyligence
    Traditionally, risk management professionals had to choose between the full picture and interactive analytics. Banks deal with many types of risks every day including market risk, credit risk, operational risk, business risk, etc. Millions of data points are collected daily around the world and are made available for risk-related decision-making. How can businesses enable their users to fully leverage all the data assets when they make these critical decisions?

    In this session, we will talk about how a global investment bank built a risk analytics platform on Kyligence Intelligent Data Cloud. Kyligence analyzes users historical data, identifies the questions that are relevant to risk analysts, prepares the most up-to-date answers, and places these answers at the fingertips of all their analysts around the world. By adopting Kyligence technology, the risk management team is able to get insight from all of its historical data instantaneously, at a fraction of the cost of a traditional data warehouse.

    Speaker Bio:
    Li Kang serves as the head of Kyligence's operations for the Americas. Bringing with him a deep technical background in analytics from his time as an engineer and solutions architect, Li drives both the technical and business strategy for all of Kyligence's major efforts in the West.
  • Compliance & Fintech: Reducing Risks Through Proper Data Management Policies Recorded: Aug 25 2020 61 mins
    Elena Kozhemyakina, Fintech4Funds | Rajeev Pai, HSBC | Pat Bates, Privitar | Carlos Gutierrez Arguello, DemTech
    Data is more valuable than oil, and the ability of the financial services industry to gather, process, analyze, and sell data is creates opportunities and challenges. Proper data management systems that are primed for compliance can help reduce risks, propelling the industry forward.

    Join this panel to:
    - Hear about the newest tools & strategies available to help fintechs and financial services firms manage their data effectively
    - Learn best practices in data gathering & aggregation
    - Discover retroactive data cleansing tools and procedures for financial services institutions

    Panel moderated by:
    Elena Kozhemyakina, CEO and Founder, Fintech4Funds

    Panelists:
    Rajeev Pai, Senior Business Consultant - Design and Initiation – Data & Analytics, HSBC Global Services
    Pat Bates, Principal Sales Engineer, Privitar
    Carlos Gutierrez Arguello, Open Innovation and Partnerships Director, DemTech
  • Protecting Data for Compliance and Risk Reduction Recorded: Aug 25 2020 31 mins
    Nilesh Parmar, Data Privacy Expert, Privitar
    With regulations around data processing becoming ever more stringent, and the huge risk of reputational damage from leaked data, join Privitar to better understand how managing data privacy isn’t easy, what you should consider when implementing it and then how you can make it work in your organisation.

    In this webinar you will learn about:

    - How organizations can balance the risk of speedy access to data with privacy
    - The best strategies for implementing data privacy
    - How data privacy can be adopted enterprise-wide
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  • Title: Cryptocurrency: Path for Decentralized Economy
  • Live at: Oct 20 2020 5:00 am
  • Presented by: Arushi Chawla, Research Associate, Blockchain & Digital Payment, Counterpoint Research
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