Re: [Din] Side meeting on financial technology

Jon Crowcroft <jon.crowcroft@cl.cam.ac.uk> Thu, 11 July 2019 16:29 UTC

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From: Jon Crowcroft <jon.crowcroft@cl.cam.ac.uk>
Date: Thu, 11 Jul 2019 18:29:07 +0200
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To: Thomas Hardjono <hardjono@mit.edu>
Cc: "melinda.shore@nomountain.net" <melinda.shore@nomountain.net>, "din@irtf.org" <din@irtf.org>, "shigeya@wide.ad.jp" <shigeya@wide.ad.jp>
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Subject: Re: [Din] Side meeting on financial technology
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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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