SlideShare a Scribd company logo
InterCon Dubai 2019
Cross-Border Capital Markets Services on the Blockchain
“an entrepreneur’s perspective”
by
Oz Eleonora
Confidential
Digital representation of securities in
real world enterprises which derive their
value from an external tradable asset
• Same as security interests but with an
electronic wrapper
• Subject to security regulations
• Requires mandatory KYC/AML Accreditation
What is a Security Token?
Confidential
“Blockchain technology will fundamentally
change market structures”
– Abigail Johnson Chairman & CEO, Fidelity Investments
Market
Source: Inwara Research, 2019
2027
Security Token Market Cap
US$10 Trillion (Forecast)
2019
Security Token Market Cap
$1 Billion (Estimate)
Blockchain based Asset Backed Securities:
• Company Securities (equity and debt)
• Real Estate,
• Others
“2019 Expected to be the initial explosion of the global
Security Token Offering (STO) market” Trade reports
Other estimates show slower growth
• US$ $10 Trillion (Forecast) by 2030
• a 59% CAGR for 2019-2030
Large Market regardless of estimates
• Only 30% of the world’s wealth is in cash
• Vast majority of companies around the
world are not publicly listed
Reality has
been slower
Confidential
STO MARKET: Nascent and Growing
The advent of Security Token Offerings (STO)
• Crackdown on ICOs by from regulatory authorities in major countries
0
12.5
25
37.5
50
Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019
47
20
2526
14
2019 - Advent of STOs
$0.75B by 5/1/19
QoQ growth of over 130% in Q1 2019
Confidential
STO MARKET: “Fast” Growth and Global
2017 2018 2019
Amount Raised US$ 6 Billion US$ 12.3 Billion US$0.753 Billion
Number of
ICOs and STOs
900 ICOs 981 ICOS 328 STOs
Completed ICO’s 52% 42% N/A
Failed ICO’s 48% 58% 4%
STO failure rate just 3.65%; reflects
enhanced regulatory compliance
and more qualified investors
1. Financial Regulations; and

2. New Found Benefits of STOs
• Broader investor base
• Lock up the capital but not the investor(*)
• Founders maintain more control
• Facilitates better oversight by regulators
• Allow for fractional ownership of property
GROWTH DRIVERS
Confidential
Problem
Tokenizing an asset does not make it more liquid by default
The primary obstacle of private security interests worldwide is liquidity
Primarily, due to: 

1. Regulatory Uncertainty;
2. Lack of Transparency;
3. Legitimate infrastructure;
4. Participation of reputable traditional institutional investors.
Without cross-border capital markets
activity, there is no true liquidity.
Confidential
A capital markets transaction combines Change of Ownership/
Rights with Payment/Settlement.
• It straddles two worlds that are closely related yet disconnected (operating
side by side, not together)
• Regulation of these two worlds is (co)related but not the same, not always
aligned and sometimes even incompatible
• Capital Markets thus remain a specialist activity
• The blockchain has the unique characteristic of enabling an end-to-end capital
markets transaction fully contained within a single digital process
• this is completely unprecedented from a regulatory perspective
What is a “Capital Markets Transaction”?
Without compliance,
there can be no cross-border
capital market activity.
Confidential
A multidimensional, globally intertwined framework of rules governing
data collection & protection,
transaction monitoring & reporting,
and jurisdictional sovereignty
as related to cross border financial transactions.
• No single entity or country determines “compliance” in cross-border financial transactions
• There are no shortcuts, lest one is willing to risk legal persecution
• The blockchain is not exempt; much like the Internet is not exempt
What is “Compliance”?
Confidential
Visualization 1: capital markets transaction
KYC:
- identity
- location
- citizenship
- criminal record
Privacy:
- secure storage
- access
- explicit permission-
based sharing
Monitoring:
- issuer integrity
- origin & purpose
- recipient integrity
- facilitator integrity
Reporting:
- on all data points
- multiple authorities
- standards
- past, current, pending
Jurisdictional Sovereignty:
- registration
- contractual validity
- bilateral regimes
- Taxes
Recourse:
- arbitration
- adjudication
- enforcement
- Collection
Confidential
Visualization 2: cross-border capital markets transaction
GDPR
KYC
PSD2
IFRS
CME
FATCAFCA
FSA
SEC
OSC
CFTC
SFC
AFM
MAS
FRB
DNB
ECB
BaFin
BIS
Basel3
Country B Country C
Country A
Confidential
Solution?
Yes. With a pragmatic, hybrid approach that is technologically flexible.
Today’s market requires a combination of process, procedures and technology.
Primarily, due to: 

1. Lack of regulatory digital readiness;
2. Need for international regulatory alignment;
3. Checkered past of blockchain-based capital markets services;
4. Weariness of investors and institutional focus on capital protection;
5. Participation of reputable traditional institutional investors.
Co-existence of traditional with advanced
blockchain-based compliance solutions is
inevitable and likely to last for a while.
Confidential
Real Life Example
GDPR
KYC
PSD2
IFRS
CME
FATCAFCA
FSA
SEC
OSC
CFTC
SFC
AFM
MAS
FRB
DNB
ECB
BaFin
BIS
Basel3
Country B Country C
Curaçao
Curaçao: Regional Blockchain-based Capital Markets Center
Requirements
• STOs are securities (no new regulations!)
• Issuer must be Curaçao entity
• Must engage lawyer, auditor (“big 6”) and
tax advisor (ruling)
• Simultaneous listing on DCSX
• Curaçao bank account
• No special tax treatment
USA
Curaçao
Hong Kong
Netherlands
• Compliance Management
• Treasury Management
• Distribution
• Capital Protection
THIS IS NOT A TAX OPTIMIZATION SERVICE!!
• Crypto/Hybrid Asset
Mgt Funds
• SME Issuers
(growth capital need)
Confidential
Conclusion
A truly successful global STO market requires liquidity at scale
As believers in the potential and power of the blockchain, we must acknowledge the
critical role of compliance and leverage the technology, as well as our global community
reach, to bridge the gap between what is today and what can be tomorrow.
There are no shortcuts, but it can be done. Zinica Group, together with our global
strategic partners is doing it.
THANK YOU!
Questions?
www.zinica.com

More Related Content

What's hot

Vedat Akgiray on regulating business on blockchain
Vedat Akgiray on regulating business on blockchain Vedat Akgiray on regulating business on blockchain
Vedat Akgiray on regulating business on blockchain
OECD Directorate for Financial and Enterprise Affairs
 
Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...
Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...
Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...
OECD, Economics Department
 
Cva asset tokenization_paper_v1.2_15122019 Tokenisasi aset Swiss
Cva asset tokenization_paper_v1.2_15122019 Tokenisasi aset SwissCva asset tokenization_paper_v1.2_15122019 Tokenisasi aset Swiss
Cva asset tokenization_paper_v1.2_15122019 Tokenisasi aset Swiss
Rein Mahatma
 
Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...
Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...
Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...
Bernhard Haslhofer
 
Introduction to Blockchain, Cryptocurrency & Altcoins
Introduction to Blockchain, Cryptocurrency & AltcoinsIntroduction to Blockchain, Cryptocurrency & Altcoins
Introduction to Blockchain, Cryptocurrency & Altcoins
ChampikeMunasinghe
 
Blockchain and Competition – CORBETT – June 2018 OECD discussion
Blockchain and Competition – CORBETT – June 2018 OECD discussionBlockchain and Competition – CORBETT – June 2018 OECD discussion
Blockchain and Competition – CORBETT – June 2018 OECD discussion
OECD Directorate for Financial and Enterprise Affairs
 
Blockchain for Anti Money Laundering (AML) Transaction Monitoring
Blockchain for Anti Money Laundering (AML) Transaction MonitoringBlockchain for Anti Money Laundering (AML) Transaction Monitoring
Blockchain for Anti Money Laundering (AML) Transaction Monitoring
Floyd DCosta
 
Blockchain and Competition – SCHREPEL – June 2018 OECD discussion
Blockchain and Competition – SCHREPEL – June 2018 OECD discussionBlockchain and Competition – SCHREPEL – June 2018 OECD discussion
Blockchain and Competition – SCHREPEL – June 2018 OECD discussion
OECD Directorate for Financial and Enterprise Affairs
 
Introduction to Decentralized Finance - DeFi
Introduction to Decentralized Finance - DeFiIntroduction to Decentralized Finance - DeFi
Introduction to Decentralized Finance - DeFi
Umair Moon
 
Webinar Slides from the Blockchain Webinar
Webinar Slides from the Blockchain WebinarWebinar Slides from the Blockchain Webinar
Webinar Slides from the Blockchain Webinar
Lora Cecere
 
9 building blocks for success block stars.io
9 building blocks for success   block stars.io9 building blocks for success   block stars.io
9 building blocks for success block stars.io
Jamie Burke
 
MasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and Blockchain
MasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and BlockchainMasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and Blockchain
MasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and Blockchain
Citrin Cooperman
 
"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019
"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019
"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019
Fluidity
 
5 top techniques for testing blockchain apps
5 top techniques for testing blockchain apps5 top techniques for testing blockchain apps
5 top techniques for testing blockchain apps
Cigniti Technologies Ltd
 
Institutional DeFi Architecture
Institutional DeFi ArchitectureInstitutional DeFi Architecture
Institutional DeFi Architecture
Floyd DCosta
 
Crafting Decentralized Finance (DeFi) based Capital Market infrastructure
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureCrafting Decentralized Finance (DeFi) based Capital Market infrastructure
Crafting Decentralized Finance (DeFi) based Capital Market infrastructure
Floyd DCosta
 
White Paper Libra Facebook April 2020
White Paper Libra Facebook April 2020White Paper Libra Facebook April 2020
White Paper Libra Facebook April 2020
Rein Mahatma
 
C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...
C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...
C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...
Citrin Cooperman
 
Blockchain and Competition – MULLIGAN – June 2018 OECD discussion
Blockchain and Competition – MULLIGAN – June 2018 OECD discussionBlockchain and Competition – MULLIGAN – June 2018 OECD discussion
Blockchain and Competition – MULLIGAN – June 2018 OECD discussion
OECD Directorate for Financial and Enterprise Affairs
 
Role of Blockchain Technology in Financial Inclusion
Role of Blockchain Technology in Financial InclusionRole of Blockchain Technology in Financial Inclusion
Role of Blockchain Technology in Financial Inclusion
Ajay Singh
 

What's hot (20)

Vedat Akgiray on regulating business on blockchain
Vedat Akgiray on regulating business on blockchain Vedat Akgiray on regulating business on blockchain
Vedat Akgiray on regulating business on blockchain
 
Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...
Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...
Initial coin offerings: Financing growth with cryptocurrency token sales: Dig...
 
Cva asset tokenization_paper_v1.2_15122019 Tokenisasi aset Swiss
Cva asset tokenization_paper_v1.2_15122019 Tokenisasi aset SwissCva asset tokenization_paper_v1.2_15122019 Tokenisasi aset Swiss
Cva asset tokenization_paper_v1.2_15122019 Tokenisasi aset Swiss
 
Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...
Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...
Decentralized Finance (DeFi) - Understanding Risks in an Emerging Financial P...
 
Introduction to Blockchain, Cryptocurrency & Altcoins
Introduction to Blockchain, Cryptocurrency & AltcoinsIntroduction to Blockchain, Cryptocurrency & Altcoins
Introduction to Blockchain, Cryptocurrency & Altcoins
 
Blockchain and Competition – CORBETT – June 2018 OECD discussion
Blockchain and Competition – CORBETT – June 2018 OECD discussionBlockchain and Competition – CORBETT – June 2018 OECD discussion
Blockchain and Competition – CORBETT – June 2018 OECD discussion
 
Blockchain for Anti Money Laundering (AML) Transaction Monitoring
Blockchain for Anti Money Laundering (AML) Transaction MonitoringBlockchain for Anti Money Laundering (AML) Transaction Monitoring
Blockchain for Anti Money Laundering (AML) Transaction Monitoring
 
Blockchain and Competition – SCHREPEL – June 2018 OECD discussion
Blockchain and Competition – SCHREPEL – June 2018 OECD discussionBlockchain and Competition – SCHREPEL – June 2018 OECD discussion
Blockchain and Competition – SCHREPEL – June 2018 OECD discussion
 
Introduction to Decentralized Finance - DeFi
Introduction to Decentralized Finance - DeFiIntroduction to Decentralized Finance - DeFi
Introduction to Decentralized Finance - DeFi
 
Webinar Slides from the Blockchain Webinar
Webinar Slides from the Blockchain WebinarWebinar Slides from the Blockchain Webinar
Webinar Slides from the Blockchain Webinar
 
9 building blocks for success block stars.io
9 building blocks for success   block stars.io9 building blocks for success   block stars.io
9 building blocks for success block stars.io
 
MasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and Blockchain
MasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and BlockchainMasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and Blockchain
MasterSnacks Cryptocurrency: Legal Issues in Cryptocurrency and Blockchain
 
"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019
"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019
"Decentralized Finance (DeFi)" by Brendan Forster, Dharma | Fluidity 2019
 
5 top techniques for testing blockchain apps
5 top techniques for testing blockchain apps5 top techniques for testing blockchain apps
5 top techniques for testing blockchain apps
 
Institutional DeFi Architecture
Institutional DeFi ArchitectureInstitutional DeFi Architecture
Institutional DeFi Architecture
 
Crafting Decentralized Finance (DeFi) based Capital Market infrastructure
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureCrafting Decentralized Finance (DeFi) based Capital Market infrastructure
Crafting Decentralized Finance (DeFi) based Capital Market infrastructure
 
White Paper Libra Facebook April 2020
White Paper Libra Facebook April 2020White Paper Libra Facebook April 2020
White Paper Libra Facebook April 2020
 
C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...
C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...
C-Suite Snacks Webinar Series: How Companies are Making Money in Bitcoin and ...
 
Blockchain and Competition – MULLIGAN – June 2018 OECD discussion
Blockchain and Competition – MULLIGAN – June 2018 OECD discussionBlockchain and Competition – MULLIGAN – June 2018 OECD discussion
Blockchain and Competition – MULLIGAN – June 2018 OECD discussion
 
Role of Blockchain Technology in Financial Inclusion
Role of Blockchain Technology in Financial InclusionRole of Blockchain Technology in Financial Inclusion
Role of Blockchain Technology in Financial Inclusion
 

Similar to Cross Border Blockchain Equity/Capital Market Services And Compliance: Presented By Oz Eleonora, Founder & Chairman of Zinica Group

Block chain A Paradigm Shift
Block chain A Paradigm ShiftBlock chain A Paradigm Shift
Block chain A Paradigm Shift
Ramanan Jagannathan
 
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
BlockStars.io
 
A Study of Tokenization of Real Estate Using Blockchain Technology
A Study of Tokenization of Real Estate Using Blockchain TechnologyA Study of Tokenization of Real Estate Using Blockchain Technology
A Study of Tokenization of Real Estate Using Blockchain Technology
vivatechijri
 
emtech blockchain.pptx
emtech blockchain.pptxemtech blockchain.pptx
emtech blockchain.pptx
recoveraccount1
 
Clarke Global - Digital Securities Overview
Clarke Global - Digital Securities OverviewClarke Global - Digital Securities Overview
Clarke Global - Digital Securities Overview
KadeemClarke3
 
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.pptdisruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
ariefsetyawan17
 
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.pptdisruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
HECTOREDUARDOUGARTER
 
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Open Source University
 
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Hristian Daskalov
 
NDIC Cryptocurrency Regulation Training 2019
NDIC Cryptocurrency Regulation Training 2019NDIC Cryptocurrency Regulation Training 2019
NDIC Cryptocurrency Regulation Training 2019
Chimezie Chuta
 
Blockchain
BlockchainBlockchain
Blockchain
Liam Moore
 
BTW Research: Bitcoin: A new kind of alternative asset against global credit ...
BTW Research: Bitcoin: A new kind of alternative asset against global credit ...BTW Research: Bitcoin: A new kind of alternative asset against global credit ...
BTW Research: Bitcoin: A new kind of alternative asset against global credit ...
BTWExchange
 
Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys
Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys   Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys
Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys
Loeb Smith Attorneys
 
Initio at World Blockchain & Cryptocurrency Summit 2018
Initio at World Blockchain & Cryptocurrency Summit 2018Initio at World Blockchain & Cryptocurrency Summit 2018
Initio at World Blockchain & Cryptocurrency Summit 2018
Initio
 
189
189189
Initial Coin Offerings: An Overview [Digital Ventures]
Initial Coin Offerings: An Overview [Digital Ventures]Initial Coin Offerings: An Overview [Digital Ventures]
Initial Coin Offerings: An Overview [Digital Ventures]
Paul Ark (Polapat Arkkrapridi)
 
Macola ICO Blockchain Presentation to SEC
Macola ICO Blockchain Presentation to SECMacola ICO Blockchain Presentation to SEC
Macola ICO Blockchain Presentation to SEC
Maco.la Management
 
8 dobrauz the dynamics of innovation
8 dobrauz the dynamics of innovation8 dobrauz the dynamics of innovation
8 dobrauz the dynamics of innovation
Walter Strametz
 
Blockchain demystified
Blockchain demystifiedBlockchain demystified
Blockchain demystified
Alan Morrison
 
Wave Financial + TQ Tezos: State of Digital Securities
Wave Financial + TQ Tezos: State of Digital Securities Wave Financial + TQ Tezos: State of Digital Securities
Wave Financial + TQ Tezos: State of Digital Securities
Tom Lombardi
 

Similar to Cross Border Blockchain Equity/Capital Market Services And Compliance: Presented By Oz Eleonora, Founder & Chairman of Zinica Group (20)

Block chain A Paradigm Shift
Block chain A Paradigm ShiftBlock chain A Paradigm Shift
Block chain A Paradigm Shift
 
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
9 BUILDING BLOCKS FOR A SUCCESSFUL BLOCKCHAIN INDUSTRY | BLOCKSTARS.IO
 
A Study of Tokenization of Real Estate Using Blockchain Technology
A Study of Tokenization of Real Estate Using Blockchain TechnologyA Study of Tokenization of Real Estate Using Blockchain Technology
A Study of Tokenization of Real Estate Using Blockchain Technology
 
emtech blockchain.pptx
emtech blockchain.pptxemtech blockchain.pptx
emtech blockchain.pptx
 
Clarke Global - Digital Securities Overview
Clarke Global - Digital Securities OverviewClarke Global - Digital Securities Overview
Clarke Global - Digital Securities Overview
 
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.pptdisruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
 
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.pptdisruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
disruptions-from-the-fintech-sector-wha-t-s-coming-and-how-should-we-prepare.ppt
 
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
 
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
Blockchain, sorting the wheat from the chaff - sensible commercial applicatio...
 
NDIC Cryptocurrency Regulation Training 2019
NDIC Cryptocurrency Regulation Training 2019NDIC Cryptocurrency Regulation Training 2019
NDIC Cryptocurrency Regulation Training 2019
 
Blockchain
BlockchainBlockchain
Blockchain
 
BTW Research: Bitcoin: A new kind of alternative asset against global credit ...
BTW Research: Bitcoin: A new kind of alternative asset against global credit ...BTW Research: Bitcoin: A new kind of alternative asset against global credit ...
BTW Research: Bitcoin: A new kind of alternative asset against global credit ...
 
Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys
Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys   Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys
Blockchain and cryptocurrencies a presentation by Loeb Smith Attorneys
 
Initio at World Blockchain & Cryptocurrency Summit 2018
Initio at World Blockchain & Cryptocurrency Summit 2018Initio at World Blockchain & Cryptocurrency Summit 2018
Initio at World Blockchain & Cryptocurrency Summit 2018
 
189
189189
189
 
Initial Coin Offerings: An Overview [Digital Ventures]
Initial Coin Offerings: An Overview [Digital Ventures]Initial Coin Offerings: An Overview [Digital Ventures]
Initial Coin Offerings: An Overview [Digital Ventures]
 
Macola ICO Blockchain Presentation to SEC
Macola ICO Blockchain Presentation to SECMacola ICO Blockchain Presentation to SEC
Macola ICO Blockchain Presentation to SEC
 
8 dobrauz the dynamics of innovation
8 dobrauz the dynamics of innovation8 dobrauz the dynamics of innovation
8 dobrauz the dynamics of innovation
 
Blockchain demystified
Blockchain demystifiedBlockchain demystified
Blockchain demystified
 
Wave Financial + TQ Tezos: State of Digital Securities
Wave Financial + TQ Tezos: State of Digital Securities Wave Financial + TQ Tezos: State of Digital Securities
Wave Financial + TQ Tezos: State of Digital Securities
 

More from InterCon

Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...
Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...
Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...
InterCon
 
Transitioning Your Business Model - From Services To Subscriptions: Presented...
Transitioning Your Business Model - From Services To Subscriptions: Presented...Transitioning Your Business Model - From Services To Subscriptions: Presented...
Transitioning Your Business Model - From Services To Subscriptions: Presented...
InterCon
 
IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...
IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...
IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...
InterCon
 
Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...
Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...
Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...
InterCon
 
Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...
Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...
Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...
InterCon
 
E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...
E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...
E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...
InterCon
 
5G Technology - The Future of Internet
5G Technology - The Future of Internet5G Technology - The Future of Internet
5G Technology - The Future of Internet
InterCon
 
Software Security For DevOps And Continuous Deployment In The Cloud
Software Security For DevOps And Continuous Deployment In The CloudSoftware Security For DevOps And Continuous Deployment In The Cloud
Software Security For DevOps And Continuous Deployment In The Cloud
InterCon
 
Transitioning Your Business Model - From Services To SaaS
Transitioning Your Business Model - From Services To SaaSTransitioning Your Business Model - From Services To SaaS
Transitioning Your Business Model - From Services To SaaS
InterCon
 
ML Will Redesign, Not Replace, Jobs
ML Will Redesign, Not Replace, JobsML Will Redesign, Not Replace, Jobs
ML Will Redesign, Not Replace, Jobs
InterCon
 
Blockchain Applications Transforming Society
Blockchain Applications Transforming SocietyBlockchain Applications Transforming Society
Blockchain Applications Transforming Society
InterCon
 
How Are AI And ML Transforming Decision Making?
How Are AI And ML Transforming Decision Making?How Are AI And ML Transforming Decision Making?
How Are AI And ML Transforming Decision Making?
InterCon
 
Boosting App Installs
Boosting App InstallsBoosting App Installs
Boosting App Installs
InterCon
 
Blockchain, Smart Contracts & IoT
Blockchain, Smart Contracts & IoTBlockchain, Smart Contracts & IoT
Blockchain, Smart Contracts & IoT
InterCon
 
Deep Reinforcement Leaning In Machine Learning
Deep Reinforcement Leaning In Machine LearningDeep Reinforcement Leaning In Machine Learning
Deep Reinforcement Leaning In Machine Learning
InterCon
 
Phishing Attacks and Trends in Cloud Computing
Phishing Attacks and Trends in Cloud ComputingPhishing Attacks and Trends in Cloud Computing
Phishing Attacks and Trends in Cloud Computing
InterCon
 
IoT - Understanding The Shift To Edge Computing
IoT - Understanding The Shift To Edge ComputingIoT - Understanding The Shift To Edge Computing
IoT - Understanding The Shift To Edge Computing
InterCon
 
IoT Data - Like No Data We have Ever Seen
IoT Data - Like No Data We have Ever SeenIoT Data - Like No Data We have Ever Seen
IoT Data - Like No Data We have Ever Seen
InterCon
 

More from InterCon (18)

Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...
Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...
Getting Started With IoT – Guidebook: Presented by Anu Taksali, CEO of Dhanuk...
 
Transitioning Your Business Model - From Services To Subscriptions: Presented...
Transitioning Your Business Model - From Services To Subscriptions: Presented...Transitioning Your Business Model - From Services To Subscriptions: Presented...
Transitioning Your Business Model - From Services To Subscriptions: Presented...
 
IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...
IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...
IoT Now And In The Future: Presented by Niroshan Madampitige, Head of Deliver...
 
Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...
Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...
Data is the New Oil: Presented By Naveen Narayanan, Global Client Partner of ...
 
Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...
Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...
Can Blockchain Disrupt Or Even Destroy The Cloud? : Presented by Suhas Patil,...
 
E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...
E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...
E-Commerce Automation: Presented by Siddhartha Choudhary, Co-Founder & CEO of...
 
5G Technology - The Future of Internet
5G Technology - The Future of Internet5G Technology - The Future of Internet
5G Technology - The Future of Internet
 
Software Security For DevOps And Continuous Deployment In The Cloud
Software Security For DevOps And Continuous Deployment In The CloudSoftware Security For DevOps And Continuous Deployment In The Cloud
Software Security For DevOps And Continuous Deployment In The Cloud
 
Transitioning Your Business Model - From Services To SaaS
Transitioning Your Business Model - From Services To SaaSTransitioning Your Business Model - From Services To SaaS
Transitioning Your Business Model - From Services To SaaS
 
ML Will Redesign, Not Replace, Jobs
ML Will Redesign, Not Replace, JobsML Will Redesign, Not Replace, Jobs
ML Will Redesign, Not Replace, Jobs
 
Blockchain Applications Transforming Society
Blockchain Applications Transforming SocietyBlockchain Applications Transforming Society
Blockchain Applications Transforming Society
 
How Are AI And ML Transforming Decision Making?
How Are AI And ML Transforming Decision Making?How Are AI And ML Transforming Decision Making?
How Are AI And ML Transforming Decision Making?
 
Boosting App Installs
Boosting App InstallsBoosting App Installs
Boosting App Installs
 
Blockchain, Smart Contracts & IoT
Blockchain, Smart Contracts & IoTBlockchain, Smart Contracts & IoT
Blockchain, Smart Contracts & IoT
 
Deep Reinforcement Leaning In Machine Learning
Deep Reinforcement Leaning In Machine LearningDeep Reinforcement Leaning In Machine Learning
Deep Reinforcement Leaning In Machine Learning
 
Phishing Attacks and Trends in Cloud Computing
Phishing Attacks and Trends in Cloud ComputingPhishing Attacks and Trends in Cloud Computing
Phishing Attacks and Trends in Cloud Computing
 
IoT - Understanding The Shift To Edge Computing
IoT - Understanding The Shift To Edge ComputingIoT - Understanding The Shift To Edge Computing
IoT - Understanding The Shift To Edge Computing
 
IoT Data - Like No Data We have Ever Seen
IoT Data - Like No Data We have Ever SeenIoT Data - Like No Data We have Ever Seen
IoT Data - Like No Data We have Ever Seen
 

Recently uploaded

Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |
AstuteBusiness
 
Energy Efficient Video Encoding for Cloud and Edge Computing Instances
Energy Efficient Video Encoding for Cloud and Edge Computing InstancesEnergy Efficient Video Encoding for Cloud and Edge Computing Instances
Energy Efficient Video Encoding for Cloud and Edge Computing Instances
Alpen-Adria-Universität
 
Digital Marketing Trends in 2024 | Guide for Staying Ahead
Digital Marketing Trends in 2024 | Guide for Staying AheadDigital Marketing Trends in 2024 | Guide for Staying Ahead
Digital Marketing Trends in 2024 | Guide for Staying Ahead
Wask
 
TrustArc Webinar - 2024 Global Privacy Survey
TrustArc Webinar - 2024 Global Privacy SurveyTrustArc Webinar - 2024 Global Privacy Survey
TrustArc Webinar - 2024 Global Privacy Survey
TrustArc
 
GraphRAG for Life Science to increase LLM accuracy
GraphRAG for Life Science to increase LLM accuracyGraphRAG for Life Science to increase LLM accuracy
GraphRAG for Life Science to increase LLM accuracy
Tomaz Bratanic
 
AWS Cloud Cost Optimization Presentation.pptx
AWS Cloud Cost Optimization Presentation.pptxAWS Cloud Cost Optimization Presentation.pptx
AWS Cloud Cost Optimization Presentation.pptx
HarisZaheer8
 
Programming Foundation Models with DSPy - Meetup Slides
Programming Foundation Models with DSPy - Meetup SlidesProgramming Foundation Models with DSPy - Meetup Slides
Programming Foundation Models with DSPy - Meetup Slides
Zilliz
 
Best 20 SEO Techniques To Improve Website Visibility In SERP
Best 20 SEO Techniques To Improve Website Visibility In SERPBest 20 SEO Techniques To Improve Website Visibility In SERP
Best 20 SEO Techniques To Improve Website Visibility In SERP
Pixlogix Infotech
 
HCL Notes and Domino License Cost Reduction in the World of DLAU
HCL Notes and Domino License Cost Reduction in the World of DLAUHCL Notes and Domino License Cost Reduction in the World of DLAU
HCL Notes and Domino License Cost Reduction in the World of DLAU
panagenda
 
System Design Case Study: Building a Scalable E-Commerce Platform - Hiike
System Design Case Study: Building a Scalable E-Commerce Platform - HiikeSystem Design Case Study: Building a Scalable E-Commerce Platform - Hiike
System Design Case Study: Building a Scalable E-Commerce Platform - Hiike
Hiike
 
Public CyberSecurity Awareness Presentation 2024.pptx
Public CyberSecurity Awareness Presentation 2024.pptxPublic CyberSecurity Awareness Presentation 2024.pptx
Public CyberSecurity Awareness Presentation 2024.pptx
marufrahmanstratejm
 
GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)
Javier Junquera
 
Building Production Ready Search Pipelines with Spark and Milvus
Building Production Ready Search Pipelines with Spark and MilvusBuilding Production Ready Search Pipelines with Spark and Milvus
Building Production Ready Search Pipelines with Spark and Milvus
Zilliz
 
JavaLand 2024: Application Development Green Masterplan
JavaLand 2024: Application Development Green MasterplanJavaLand 2024: Application Development Green Masterplan
JavaLand 2024: Application Development Green Masterplan
Miro Wengner
 
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAUHCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
panagenda
 
WeTestAthens: Postman's AI & Automation Techniques
WeTestAthens: Postman's AI & Automation TechniquesWeTestAthens: Postman's AI & Automation Techniques
WeTestAthens: Postman's AI & Automation Techniques
Postman
 
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-Efficiency
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-EfficiencyFreshworks Rethinks NoSQL for Rapid Scaling & Cost-Efficiency
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-Efficiency
ScyllaDB
 
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
Edge AI and Vision Alliance
 
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdf
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdfHow to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdf
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdf
Chart Kalyan
 
Dandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity serverDandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity server
Antonios Katsarakis
 

Recently uploaded (20)

Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |
 
Energy Efficient Video Encoding for Cloud and Edge Computing Instances
Energy Efficient Video Encoding for Cloud and Edge Computing InstancesEnergy Efficient Video Encoding for Cloud and Edge Computing Instances
Energy Efficient Video Encoding for Cloud and Edge Computing Instances
 
Digital Marketing Trends in 2024 | Guide for Staying Ahead
Digital Marketing Trends in 2024 | Guide for Staying AheadDigital Marketing Trends in 2024 | Guide for Staying Ahead
Digital Marketing Trends in 2024 | Guide for Staying Ahead
 
TrustArc Webinar - 2024 Global Privacy Survey
TrustArc Webinar - 2024 Global Privacy SurveyTrustArc Webinar - 2024 Global Privacy Survey
TrustArc Webinar - 2024 Global Privacy Survey
 
GraphRAG for Life Science to increase LLM accuracy
GraphRAG for Life Science to increase LLM accuracyGraphRAG for Life Science to increase LLM accuracy
GraphRAG for Life Science to increase LLM accuracy
 
AWS Cloud Cost Optimization Presentation.pptx
AWS Cloud Cost Optimization Presentation.pptxAWS Cloud Cost Optimization Presentation.pptx
AWS Cloud Cost Optimization Presentation.pptx
 
Programming Foundation Models with DSPy - Meetup Slides
Programming Foundation Models with DSPy - Meetup SlidesProgramming Foundation Models with DSPy - Meetup Slides
Programming Foundation Models with DSPy - Meetup Slides
 
Best 20 SEO Techniques To Improve Website Visibility In SERP
Best 20 SEO Techniques To Improve Website Visibility In SERPBest 20 SEO Techniques To Improve Website Visibility In SERP
Best 20 SEO Techniques To Improve Website Visibility In SERP
 
HCL Notes and Domino License Cost Reduction in the World of DLAU
HCL Notes and Domino License Cost Reduction in the World of DLAUHCL Notes and Domino License Cost Reduction in the World of DLAU
HCL Notes and Domino License Cost Reduction in the World of DLAU
 
System Design Case Study: Building a Scalable E-Commerce Platform - Hiike
System Design Case Study: Building a Scalable E-Commerce Platform - HiikeSystem Design Case Study: Building a Scalable E-Commerce Platform - Hiike
System Design Case Study: Building a Scalable E-Commerce Platform - Hiike
 
Public CyberSecurity Awareness Presentation 2024.pptx
Public CyberSecurity Awareness Presentation 2024.pptxPublic CyberSecurity Awareness Presentation 2024.pptx
Public CyberSecurity Awareness Presentation 2024.pptx
 
GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)
 
Building Production Ready Search Pipelines with Spark and Milvus
Building Production Ready Search Pipelines with Spark and MilvusBuilding Production Ready Search Pipelines with Spark and Milvus
Building Production Ready Search Pipelines with Spark and Milvus
 
JavaLand 2024: Application Development Green Masterplan
JavaLand 2024: Application Development Green MasterplanJavaLand 2024: Application Development Green Masterplan
JavaLand 2024: Application Development Green Masterplan
 
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAUHCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
 
WeTestAthens: Postman's AI & Automation Techniques
WeTestAthens: Postman's AI & Automation TechniquesWeTestAthens: Postman's AI & Automation Techniques
WeTestAthens: Postman's AI & Automation Techniques
 
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-Efficiency
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-EfficiencyFreshworks Rethinks NoSQL for Rapid Scaling & Cost-Efficiency
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-Efficiency
 
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
 
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdf
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdfHow to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdf
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdf
 
Dandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity serverDandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity server
 

Cross Border Blockchain Equity/Capital Market Services And Compliance: Presented By Oz Eleonora, Founder & Chairman of Zinica Group

  • 1. InterCon Dubai 2019 Cross-Border Capital Markets Services on the Blockchain “an entrepreneur’s perspective” by Oz Eleonora
  • 2. Confidential Digital representation of securities in real world enterprises which derive their value from an external tradable asset • Same as security interests but with an electronic wrapper • Subject to security regulations • Requires mandatory KYC/AML Accreditation What is a Security Token?
  • 3. Confidential “Blockchain technology will fundamentally change market structures” – Abigail Johnson Chairman & CEO, Fidelity Investments Market Source: Inwara Research, 2019 2027 Security Token Market Cap US$10 Trillion (Forecast) 2019 Security Token Market Cap $1 Billion (Estimate) Blockchain based Asset Backed Securities: • Company Securities (equity and debt) • Real Estate, • Others “2019 Expected to be the initial explosion of the global Security Token Offering (STO) market” Trade reports Other estimates show slower growth • US$ $10 Trillion (Forecast) by 2030 • a 59% CAGR for 2019-2030 Large Market regardless of estimates • Only 30% of the world’s wealth is in cash • Vast majority of companies around the world are not publicly listed Reality has been slower
  • 4. Confidential STO MARKET: Nascent and Growing The advent of Security Token Offerings (STO) • Crackdown on ICOs by from regulatory authorities in major countries 0 12.5 25 37.5 50 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 47 20 2526 14 2019 - Advent of STOs $0.75B by 5/1/19 QoQ growth of over 130% in Q1 2019
  • 5. Confidential STO MARKET: “Fast” Growth and Global 2017 2018 2019 Amount Raised US$ 6 Billion US$ 12.3 Billion US$0.753 Billion Number of ICOs and STOs 900 ICOs 981 ICOS 328 STOs Completed ICO’s 52% 42% N/A Failed ICO’s 48% 58% 4% STO failure rate just 3.65%; reflects enhanced regulatory compliance and more qualified investors 1. Financial Regulations; and
 2. New Found Benefits of STOs • Broader investor base • Lock up the capital but not the investor(*) • Founders maintain more control • Facilitates better oversight by regulators • Allow for fractional ownership of property GROWTH DRIVERS
  • 6. Confidential Problem Tokenizing an asset does not make it more liquid by default The primary obstacle of private security interests worldwide is liquidity Primarily, due to: 
 1. Regulatory Uncertainty; 2. Lack of Transparency; 3. Legitimate infrastructure; 4. Participation of reputable traditional institutional investors. Without cross-border capital markets activity, there is no true liquidity.
  • 7. Confidential A capital markets transaction combines Change of Ownership/ Rights with Payment/Settlement. • It straddles two worlds that are closely related yet disconnected (operating side by side, not together) • Regulation of these two worlds is (co)related but not the same, not always aligned and sometimes even incompatible • Capital Markets thus remain a specialist activity • The blockchain has the unique characteristic of enabling an end-to-end capital markets transaction fully contained within a single digital process • this is completely unprecedented from a regulatory perspective What is a “Capital Markets Transaction”? Without compliance, there can be no cross-border capital market activity.
  • 8. Confidential A multidimensional, globally intertwined framework of rules governing data collection & protection, transaction monitoring & reporting, and jurisdictional sovereignty as related to cross border financial transactions. • No single entity or country determines “compliance” in cross-border financial transactions • There are no shortcuts, lest one is willing to risk legal persecution • The blockchain is not exempt; much like the Internet is not exempt What is “Compliance”?
  • 9. Confidential Visualization 1: capital markets transaction KYC: - identity - location - citizenship - criminal record Privacy: - secure storage - access - explicit permission- based sharing Monitoring: - issuer integrity - origin & purpose - recipient integrity - facilitator integrity Reporting: - on all data points - multiple authorities - standards - past, current, pending Jurisdictional Sovereignty: - registration - contractual validity - bilateral regimes - Taxes Recourse: - arbitration - adjudication - enforcement - Collection
  • 10. Confidential Visualization 2: cross-border capital markets transaction GDPR KYC PSD2 IFRS CME FATCAFCA FSA SEC OSC CFTC SFC AFM MAS FRB DNB ECB BaFin BIS Basel3 Country B Country C Country A
  • 11. Confidential Solution? Yes. With a pragmatic, hybrid approach that is technologically flexible. Today’s market requires a combination of process, procedures and technology. Primarily, due to: 
 1. Lack of regulatory digital readiness; 2. Need for international regulatory alignment; 3. Checkered past of blockchain-based capital markets services; 4. Weariness of investors and institutional focus on capital protection; 5. Participation of reputable traditional institutional investors. Co-existence of traditional with advanced blockchain-based compliance solutions is inevitable and likely to last for a while.
  • 13. Curaçao: Regional Blockchain-based Capital Markets Center Requirements • STOs are securities (no new regulations!) • Issuer must be Curaçao entity • Must engage lawyer, auditor (“big 6”) and tax advisor (ruling) • Simultaneous listing on DCSX • Curaçao bank account • No special tax treatment USA Curaçao Hong Kong Netherlands • Compliance Management • Treasury Management • Distribution • Capital Protection THIS IS NOT A TAX OPTIMIZATION SERVICE!! • Crypto/Hybrid Asset Mgt Funds • SME Issuers (growth capital need)
  • 14. Confidential Conclusion A truly successful global STO market requires liquidity at scale As believers in the potential and power of the blockchain, we must acknowledge the critical role of compliance and leverage the technology, as well as our global community reach, to bridge the gap between what is today and what can be tomorrow. There are no shortcuts, but it can be done. Zinica Group, together with our global strategic partners is doing it.