Re: [Din] Side meeting on financial technology

"Liubingyang (Bryan)" <liubingyang@huawei.com> Fri, 12 July 2019 07:24 UTC

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From: "Liubingyang (Bryan)" <liubingyang@huawei.com>
To: Jon Crowcroft <jon.crowcroft@cl.cam.ac.uk>, Dino Farinacci <farinacci@gmail.com>
CC: "din@irtf.org" <din@irtf.org>, "melinda.shore@nomountain.net" <melinda.shore@nomountain.net>, Thomas Hardjono <hardjono@mit.edu>, "shigeya@wide.ad.jp" <shigeya@wide.ad.jp>
Thread-Topic: [Din] Side meeting on financial technology
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Date: Fri, 12 Jul 2019 07:24:27 +0000
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Subject: Re: [Din] Side meeting on financial technology
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I'm very interested in IETF's role in DLT, especially the DLT inter-networking capabilities. 
Other SDOs, e.g., ITU-T FG DLT and ETSI ISG PDL, are also working on DLT. So IETF's role should be carefully positioned.

Bingyang (Bryan)

-----Original Message-----
From: Din [mailto:din-bounces@irtf.org] On Behalf Of Jon Crowcroft
Sent: Friday, July 12, 2019 1:30 AM
To: Dino Farinacci <farinacci@gmail.com>;
Cc: din@irtf.org; melinda.shore@nomountain.net; Thomas Hardjono <hardjono@mit.edu>;; shigeya@wide.ad.jp
Subject: Re: [Din] Side meeting on financial technology

oh i guess we'd like to know the read/write rate for transactions on a given DLT for a given consensus algorithms - this may have a gating function for whether someone can use it to implement a cryptocurrency, but that's their call - distributed ledger (e.g. immutable logs) are definitely useful things and having some open interworking ones is obviously handy....

libra? i thought that was a stable coin non crypto, non dlt, centralised mint/check, paypal replacement from some social media company that needs to compete with wechat:-)? would love to see an open spec for it...

On Thu, Jul 11, 2019 at 7:22 PM Dino Farinacci <farinacci@gmail.com>; wrote:
>
> Agree, lets give crypto a good network to run over. Let’s make transactions fast, lets make the network efficient and accessiable through NATs on devices and cloud apps. And of course standardize a blockchain protocol so exchanges don’t have to be on n different blockchains just to service wallets.
>
> This reminds me of the IP versus AppleTalk versus IPX versus Apollo Domain versus Chaosnet versus OSI versus . . .
>
> Having said that, can we can somone from the Libra Association to talk about Libra?
>
> Dino
>
> > On Jul 11, 2019, at 9:29 AM, Jon Crowcroft <jon.crowcroft@cl.cam.ac.uk>; wrote:
> >
> > those sound like the right aspects of dlt to address - i'd leave the 
> > "finance" part of fintech out or we'll get into endless debates 
> > about fiat and stable etc etc which belong elsewhere...
> >
> > On Thu, Jul 11, 2019 at 3:22 PM Thomas Hardjono <hardjono@mit.edu>; wrote:
> >>
> >>
> >> Actually, the IETF has a crucial role in the future of cryptocurrency and DLTs in the general:
> >>
> >> -- Interoperability of systems has been a major concern (creed) of the IETF since its beginning in the late 1980s. (Blockchain systems badly need interoperability, IMHO).
> >>
> >> -- Various ciphers are standardized in the IETF.
> >>
> >> -- Upcoming ciphers and cryptosystems are discussed in the CFRG.
> >>
> >> -- PKI standards was developed in the PKIX WG in the IETF.
> >>
> >>
> >> --- thomas ---
> >>
> >>
> >>
> >>
> >> |   Thomas Hardjono
> >> |   MIT Connection Science
> >> |   http://connection.mit.edu
> >> |   http://trust.mit.edu
> >> |
> >> |   e: hardjono[at]mit.edu
> >> |   http://hardjono.mit.edu
> >>
> >>
> >> ________________________________________
> >> From: Din [din-bounces@irtf.org] on behalf of Melinda Shore 
> >> [melinda.shore@nomountain.net]
> >> Sent: Wednesday, July 10, 2019 7:55 PM
> >> To: din@irtf.org
> >> Subject: [Din] Side meeting on financial technology
> >>
> >> Mr Shigeya Suzuki of Keio University has asked for a side meeting 
> >> on distributed ledger-based financial technology, which will be 
> >> held on Thursday morning at 10am in the Coller Room.
> >> It seems likely that the room may not be large enough, and I will 
> >> try to find a larger space.
> >>
> >> He asked that I share the session description:
> >>
> >> CFP: IETF’s relationship to the future of distributed ledger 
> >> technology
> >>
> >> As several people mentioned in the past, it seems valuable to 
> >> introduce the way we have developed/are developing the Internet 
> >> technology, followed by working on the governance of the Internet, 
> >> to experts who need to discuss the future of some new influential 
> >> global technologies, such as distributed ledger technology (DLT). 
> >> IETF and other technical communities should discuss openly to 
> >> develop open standards. For the deployment of the technology, also 
> >> important is to discuss multiple stakeholders from the point of 
> >> view of the social impact of the technology.
> >>
> >> Keio University, Georgetown University, and Japanese Financial 
> >> Services Agency have been discussing in the past several months on 
> >> how the experiences of the Internet technology and its governance 
> >> on the deployment, to find a competent and reasonable way to 
> >> developing and using DLT.
> >>
> >> As a part of the dialogue, the team mentioned above made little 
> >> progress at the G20 finance ministers and central bank governors 
> >> meeting in Fukuoka [1], to make financial regulators understand to 
> >> establish a multi-stakeholder community in the DLT ecosystem is 
> >> crucial. Please be surprised by reading the script of the speech of 
> >> introduction of the panel discussion [4] held as the official G20 
> >> seminar in Fukuoka [2], moderated by Prof. Jun Murai, with Dr. Adam 
> >> Back as one of the panelists.
> >>
> >> IETF community might feel distant from this topic; however, if DLT 
> >> will be part of the basis of a future platform on the Internet, the 
> >> IETF community might be responsible for the technology. Moreover, 
> >> the tight relationship with crypto-assets in the context of 
> >> application-level deployment means that we should discuss DLT with 
> >> stakeholders, including regulatory agencies and financial 
> >> institutions.
> >>
> >> Our team succeeded in convincing regulators that conversation is 
> >> crucial. We need to be part of the conversation.
> >>
> >> The purpose of this meeting is to inform what is happening, then 
> >> starting a dialogue on the topic. We also want to find some 
> >> motivated souls to work on this effort together.
> >>
> >> Please come to the meeting.
> >>
> >> [1] G20 Finance Ministers and Central bank governors meeting 
> >> https://www.g20fukuoka2019.mof.go.jp/en/
> >>
> >> [2] G20 SEMINAR, G20 HIGH-LEVEL SEMINAR ON FINANCIAL INNOVATION, 
> >> “OUR FUTURE IN THE DIGITAL AGE 
> >> https://www.g20fukuoka2019.mof.go.jp/en/meetings/20190608_1.html
> >>
> >> [3] Opening Remarks: Taro Aso, Deputy Prime Minister, Minister of 
> >> Finance, and Minister of State for Financial Services 
> >> https://www.fsa.go.jp/common/conference/danwa/20190608/01.pdf
> >>
> >> [4] Introductory remarks, Toshihide Endo, Commissioner, Japan 
> >> Financial Services Agency 
> >> https://www.fsa.go.jp/common/conference/danwa/20190608/05.pdf
> >> _______________________________________________
> >> Din mailing list
> >> Din@irtf.org
> >> https://www.irtf.org/mailman/listinfo/din
> >
> > _______________________________________________
> > Din mailing list
> > Din@irtf.org
> > https://www.irtf.org/mailman/listinfo/din
>

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