{"id":814267,"date":"2024-12-24T00:13:03","date_gmt":"2024-12-24T06:13:03","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/24\/engineering-a-smarter-financial-world-with-blockchain\/"},"modified":"2024-12-24T00:13:03","modified_gmt":"2024-12-24T06:13:03","slug":"engineering-a-smarter-financial-world-with-blockchain","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/24\/engineering-a-smarter-financial-world-with-blockchain\/","title":{"rendered":"Engineering a smarter financial world with blockchain"},"content":{"rendered":"<div>\n<div>\n<ol>\n<li><a href=\"https:\/\/coingeek.com\">Homepage<\/a><\/li>\n<li> > <\/li>\n<li><a href=\"https:\/\/coingeek.com\/news\/\">News<\/a><\/li>\n<li> > <\/li>\n<li><a href=\"https:\/\/coingeek.com\/news\/category\/business\/\">Business<\/a><\/li>\n<li> > <\/li>\n<li>Engineering a smarter financial world with blockchain<\/li>\n<\/ol>\n<\/div>\n<p>On this episode of the\u00a0<a href=\"https:\/\/coingeek.com\/news\/tag\/coingeek-weekly-livestream\/\" target=\"_blank\" rel=\"noreferrer noopener\">CoinGeek Weekly Livestream<\/a>, Tokenovate CEO\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/bakerrichardj\/?originalSubdomain=uk\" target=\"_blank\" rel=\"noreferrer noopener\">Richard Baker<\/a>\u00a0joined Kurt Wuckert Jr. to talk about how blockchain technology can create a smarter, more efficient financial world. Baker should know\u2014he\u2019s at the heart of the action with his company, Tokenovate.<\/p>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/8xWWPrptI1g?si=laBD0ruxy83VcMIC&#038;controls=0\" frameborder=\"0\" allowfullscreen> title=&#8221;YouTube video player&#8221; frameborder=&#8221;0&#8243; allow=&#8221;accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share&#8221; referrerpolicy=&#8221;strict-origin-when-cross-origin&#8221; allowfullscreen><\/iframe><\/p>\n<p><strong>Wuckert\u2019s weekly CoinGeek article<\/strong><\/p>\n<p>Wuckert begins the stream by talking about his latest article on CoinGeek. It covers how one of Wuckert\u2019s social media haters,\u00a0<a href=\"https:\/\/coingeek.com\/the-war-on-bitcoin\/\" target=\"_blank\" rel=\"noreferrer noopener\">Arthur Van Pelt<\/a>, seems to have had his money frozen on\u00a0<a href=\"https:\/\/coingeek.com\/bitstamp-withdraws-plans-to-charge-users-inactivity-fee-after-community-uproar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bitstamp<\/a>.\u00a0<\/p>\n<p>Wuckert says that, despite Van Pelt\u2019s nasty rhetoric over the years, he hopes the situation is resolved and he gets his money back. These are the dangers of using centralized exchanges and the shadowy \u2018crypto\u2019 ecosystem.<\/p>\n<p><strong>What has Tokenovate been working on?<\/strong><\/p>\n<p>Baker should be a familiar face to most in the BSV ecosystem. He\u2019s now in charge of\u00a0<a href=\"https:\/\/www.tokenovate.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Tokenovate<\/a>, a firm shaking up traditional financial markets by using the blockchain to make processes more efficient.<\/p>\n<p>The Tokenovate team is based in the U.K. (London and Cambridge) and is focused on derivatives. They\u2019re building a \u201cmodern-day rights management and workflow automation platform\u201d for\u00a0<a href=\"https:\/\/coingeek.com\/tokenovate-to-transform-carbon-credits-with-blockchain-video\/\" target=\"_blank\" rel=\"noreferrer noopener\">derivatives on the BSV blockchain<\/a>.<\/p>\n<p>As a firm focused on financial infrastructure, Baker explains that its customers would be banks, exchanges, vendors, clearing houses, prime brokers, etc. Essentially, Baker says they have automated the \u201cfactory floor\u201d of derivatives trading, explaining the process in more detail.<\/p>\n<p><strong>What does this look like at scale?<\/strong><\/p>\n<p>Before answering that, Baker invites us to take a step back and consider the current money system and its roles and responsibilities. Clearing banks, custody services, prime brokers, and others all have specific roles to play in derivatives and other trades.\u00a0<\/p>\n<p>The innovation and transformation that firms like Tokeovate are pioneering are having effects throughout the entire ecosystem. Everything from the creation to the movement of assets is changing due to\u00a0<a href=\"https:\/\/coingeek.com\/blockchain101\/5-elements-of-a-scalable-blockchain\/\" target=\"_blank\" rel=\"noreferrer noopener\">blockchain<\/a>, DLT, and associated technology.<\/p>\n<p>Tokenovate is specifically involved in legal rights and their movement throughout this system. They move the rights rather than the assets themselves, but it all plays a part in removing friction and making everything more efficient.<\/p>\n<p>There\u2019s an enormous appetite for\u00a0<a href=\"https:\/\/coingeek.com\/future-possibilities-harnessing-blockchain-for-ai-digital-twin-synergy\/\" target=\"_blank\" rel=\"noreferrer noopener\">digital twins<\/a>\u00a0of bonds, Baker says. They\u2019re still issued traditionally, too, but digital twins are a step in the right direction. Change is slow, he says, but that\u2019s where the opportunity lies for disruptors and challengers.\u00a0<\/p>\n<p>While the big players have been innovating and experimenting with the technology for a couple of years now, they\u2019re beginning to realize they have built silos and have an interoperability problem\u2014something CoinGeek predicted years ago.<\/p>\n<p><strong>The incoming US government and its attitude to blockchain<\/strong><\/p>\n<p>Wuckert points out that a\u00a0<a href=\"https:\/\/coingeek.com\/donald-trump-plans-and-support-for-the-crypto-industry\/\" target=\"_blank\" rel=\"noreferrer noopener\">new U.S. government<\/a>\u00a0is right around the corner and could be suitable for the industry. For example, incoming Vice President JD Vance worked in fintech. He wonders what Bakers\u2019 opinion on all of this is.<\/p>\n<p>The Tokenovate CEO says he\u2019ll park his politics at the door and predicts a large\u00a0<a href=\"https:\/\/coingeek.com\/extended-bull-run-anticipated-us-crypto-adoption-rises\/\" target=\"_blank\" rel=\"noreferrer noopener\">bull run<\/a>. The industry will surely benefit, and a lot of innovation will likely come in the next few years.<\/p>\n<p>On a related point, Baker says the idea of BTC is here to stay for the foreseeable future, whether we like it or not. We\u2019ll also see a lot of innovation related to lending,\u00a0<a href=\"https:\/\/coingeek.com\/bis-highlights-defi-role-in-liquidity-malaysia-eyes-cbdc\/\" target=\"_blank\" rel=\"noreferrer noopener\">DeFi<\/a>, etc. The lifespan of all of this could be 10 years or less, but it will happen in the immediate term.<\/p>\n<p><strong>What would Baker say to regulators if he had the chance?<\/strong><\/p>\n<p>Baker recalls how he got to go to Capitol Hill earlier this year, and regulators are now focused on scalability, cost, consensus, how the tech works, etc. It\u2019s being viewed as foundational tech, and that\u2019s a great thing.<\/p>\n<p>Amidst all this, there\u2019s an opportunity for the\u00a0<a href=\"https:\/\/coingeek.com\/the-original-bitcoin-protocol-what-is-it-and-why-does-it-matter\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin protocol<\/a>\u00a0to inscribe privately on the\u00a0<a href=\"https:\/\/coingeek.com\/permissioned-vs-permissionless-blockchains-what-best-for-your-business\/\" target=\"_blank\" rel=\"noreferrer noopener\">public, permissionless blockchain<\/a>. The key is to do as Tokenovate has: build systems that allow for privacy while also complying with reporting and other regulatory requirements.<\/p>\n<p><em>To hear more about Tokenovate, the value of on-chain data, different token standards, and more,\u00a0<a href=\"https:\/\/www.youtube.com\/live\/8xWWPrptI1g?si=wo6qfjJwKr9BzXtZ\" target=\"_blank\" rel=\"noreferrer noopener\">check out the livestream here<\/a>.<\/em><\/p>\n<p>Watch: Want to develop on BSV? Here\u2019s how you can build with Mandala<\/p>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/YFTt0yL09bA?si=M0yeSb8OfY-k68Eu&#038;controls=0\" frameborder=\"0\" allowfullscreen> title=&#8221;YouTube video player&#8221; frameborder=&#8221;0&#8243; allow=&#8221;accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share&#8221; referrerpolicy=&#8221;strict-origin-when-cross-origin&#8221; allowfullscreen><\/iframe><\/p>\n<div>\n<p><h3>Tagged:<\/h3>\n<\/p>\n<\/div><\/div>\n<p><a href=\"https:\/\/coingeek.com\/engineering-a-smarter-financial-world-with-blockchain-video\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Gavin Lucas<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homepage &gt; News &gt; Business &gt; Engineering a smarter financial world with blockchain On this episode of the\u00a0CoinGeek Weekly Livestream, Tokenovate CEO\u00a0Richard Baker\u00a0joined Kurt Wuckert Jr. to talk about how blockchain technology can create a smarter, more efficient financial world. Baker should know\u2014he\u2019s at the heart of the action with his company, Tokenovate. title=&#8221;YouTube video<\/p>\n","protected":false},"author":1,"featured_media":814268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30555,33752],"tags":[],"class_list":{"0":"post-814267","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-engineering","8":"category-smarter"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/814267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=814267"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/814267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/814268"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=814267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=814267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=814267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}