Link to CMSIG Obstacles Paper - Draft
Please consider contributing content, headings, or ideas to the paper:
Obstacles encountered implementing Hyperledger in Capital Markets sectors
Tech, business, compliance: What are your pain points or primary concerns in implementing your product vision?
- Customer assumption regarding blockchain>cryptocurrency - method for business sectors to understand the strengths and nuances of DLTs. Per 14 Aug 2019 meeting notes: Blockchain and capital markets – need to compartmentalize conversation. Token world – custody, institutional level. Blockchain – to run data and workflows. One obstacle – hard to frame or compartmentalize the conversation. Subgroups – digital securities compartment with its own obstacles separate from running a deal on blockchain where there’s no token. Education and acceptance conversation – invariable Bitcoin – not interested. Anything in the context that helps aid that discussion.
- Interoperability and integration. Capital markets is not a new ecosystem, connecting to existing systems. Data type/standards conflicts.
- Tokens, no tokens. Trust, trustless. Contract networks – asset networks. How to bring together, to achieve their potential?
Obstacles in Capital Markets sectors that Hyperledger can offer competitive advantage
Tech, business compliance: If Hyperledger can address these current sector issues, it would be significant.
- Open and accessible.
- AML, KYC, MIFID2 and GDPR 'doable' - increase of efficiency from a cost, time and reliance/security perspective
- Digital ecosystem.
- Collaboration over competition.
- Rebuilding trust - trusted intermediaries.
- Distributed ledgers potentially reduce costs and transaction times while improving security, control, resilience, and auditability.
- Smart contracts may model master service agreements or credit support annexes associated with derivatives instruments and provide ultimate transparency over contractual terms between counter parties.
Comprehensive survey of ethereum vulnerabilities, maybe relevant since many of these vectors can apply to any Blockchain.