...
| Time | Item | Who | Notes |
|---|---|---|---|
| 2 min | Anti Trust Policy & Code of Conduct | ||
| 10 min | Introductions: Welcome new members | All | |
| 8 min | Invite new contributions or further connections | Repos, Green Bonds, FinOS, Fednow, ISDA DerivHack, | |
| 3 min | Global Forum Presentation as a SIG? Were there any CFPs submitted? | https://events.linuxfoundation.org/events/hyperledger-global-forum-2020/ | |
| 20 min | Status and plans from the project leads or interested members for existing projects | CMSIG-Projects | |
| Rest | AOB |
Recordings
Action items
Research and explore digital cash obstacles
Create smart contracts as examples
Meeting Minutes
Banks - smart contracts - what about cash? Biggest problem for Muralisr - transactions have to resolve themselves in cash.
...
China working on it. Different than approach of Libra, which must be across jurisdictions. Regulators are against Libra because they recognize there is a problem today and they do not want a private association to solve the problem. The Chinese contrasted their digital currency efforts to Libra; they said, the exchange can happen on the edges. This means, instead of exchange happening inside a centrally connected blockchain, what if you have a phone and your counterpart has a phone, you're not connected to the network, how can you exchange? With physical cash you do not need access to anything. The Chinese said their digital currency will allow this kind of exchange; I can touch my phone to yours and exchange takes place without connection. Eventually will take place on a ledger.
BIS Document on Digital Currencies: https://www.bis.org/cpmi/publ/d174.htm
Common Data Model - derivHack in NYC, London, Singapore. Their model allows for processes and events modeling. They want to extend to post trade settlement for every type of security, not just swaps and derivatives. As part of that, there is a support provided by Digital Assets and R3 to translate between CDM and their own representation of contracts. Vipin will see if they have standards forms that may be relevant for Capital Markets SIG. We could sketch out what we know, ie Issuance. That is a pattern. Can be used as a model and develop a smart contract. Subsequently, for trading or post-trade settlement. Can take simple products which are not complex.
Kelly showed Burrow smart contract examples.
Provenance - trade finance - securitization - possible use case/smart contract.
Manju - use cases related to KYC or AML and trade tiering. Looking at why is the focus on this and not other aspects of Capital Markets. Counter parties involved, especially in compliance. Example: insider trading - individuals who trade on their behalf. How can this use case benefit the overall market.
Muralisr - making insider training more transparent, is this a problem that can be best solved with bc?
Manju - bc will perhaps not solve the problem but may be a value part in solving - trust. All parties involved in insider training, in different organizations, within trusted parties. Banks or different organizations such as accounting firms. Large players. Lack of transparency. Regulatory, hard to track. When a particular event happened, who was involved.
Who will be the right person to push, with enough people benefiting. Also awareness, middle office and back office functions to huge benefit.