Re: [Din] Side meeting on financial technology

Dino Farinacci <farinacci@gmail.com> Thu, 11 July 2019 17:22 UTC

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From: Dino Farinacci <farinacci@gmail.com>
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Date: Thu, 11 Jul 2019 10:22:32 -0700
Cc: Thomas Hardjono <hardjono@mit.edu>, "shigeya@wide.ad.jp" <shigeya@wide.ad.jp>, "melinda.shore@nomountain.net" <melinda.shore@nomountain.net>, "din@irtf.org" <din@irtf.org>
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To: Jon Crowcroft <jon.crowcroft@cl.cam.ac.uk>
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Subject: Re: [Din] Side meeting on financial technology
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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
>> _______________________________________________
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>> https://www.irtf.org/mailman/listinfo/din
> 
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