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London Blockchain Conference: Day 1 Highlights

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As the inaugural London conference commenced today, attendees heard from industry experts who shed light on Revenue Generation with Blockchain

LONDON, May 21, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference experienced an enlightening first day, kickstarting with informative and thought-provoking speakers, discussing a wide range of topics involving Digital Currency and government policy, trust economy, carbon offset derivatives using blockchain and smart contracts. 

Day 1 of the conference focused on ‘Rev-gen with Blockchain’. The agenda was filled with engaging sessions and discussions that delved into various topics like the Evolution of Web 3 and its impact on the Finance Sector. Attendees also had the opportunity to explore the transformative potential of blockchain technology in areas such as data integrity, accountability, and trust for customers and users. Other notable sessions shed light on the revolutionary role of blockchain in combating counterfeit goods, stable coins, and the Future of Blockchain tokens. 

Throughout the day attendees heard from distinguished speakers who brought their expertise to the forefront.

Blockchain 101 session by Connor Murray, Director of Stewardship at BSV Association who opened the conference by explaining how blockchain technology introduces a new way of interacting with applications and services that have become integral to our digitally connected world.

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The keynote speaker for Day 1 was Scott Galloway, Professor of Marketing at NYU Stern School of Business /Entrepreneur who shared his predictions on future trends, analysing the economy, Web3 ecosystem and AI’s transformative potential. He highlighted the products and trends that are receiving too much vs too little attention and investment.

Cybersecurity Future: Blockchain’s Role in Enhanced Security – a panel moderated by John Velossariis, Founder & Director, Otranto Limited, with speakers Joseph Kearney, Research Associate, University of Kent / Block Sphere, and Robert Huber, Tech Lead, Veridat, where they discussed blockchain’s impact on cybersecurity, including decentralised identity management, supply chain security, smart contracts, and DDoS attack defences.

How Teranode delivers blockchain scaling for Enterprise use – Siggi Oskarsson, Director of Teranode at BSV Blockchain, Jordan Kramsky, Solutions Architect at AWS and Behrad Babaee, Principal Architect at Aerospike discussed the pivotal role of Teranode in driving enterprise-level adoption of the BSV blockchain and is poised to revolutionise the blockchain landscape and unlock new possibilities for businesses worldwide.

Owen Vaughan, Chief Scientist Officer at nChain in his session titled, ‘What if your blockchain is different to mine?’, explained the role of Web3 and Blockchain and building a decentralised online ecosystem. He also presented nChain’s Universal Blockchain Assets (UBA) Wallet for interoperable blockchain tokens across other chains.

Tokenisation and the Wine Industry – Steven Bacci, Principal Worldwide Specialist Solutions Architect, AWS and David Garrett, Managing Partner, dVIN discussed how blockchain enhances transparency, and security, offers anti-fraud solutions, and supply chain efficiency and fosters a global community of wine lovers and producers. They also highlighted how dVIN leverages AWS-managed blockchain for innovation and market acceleration.

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Solving Blockchain’s Interoperability Challenges – Moderated by Becky Liggero, Reporter, Producer and Host at Coingeek, the panellists Irina Benfrid, B2B Partnerships Lead, Rubic Finance, Clem Chambers, CEO, Online Blockchain, Evelyn Nomaya, PhD Researcher, Trinity College and Ty Everett, Founding President, Project Babbage, focused on solving blockchain’s interoperability challenges and how addressing these interoperability issues is paramount for unleashing the full potential of blockchain technology.  

Establishing Trust in AI: Blockchain – Scott Zoldi, Chief Analytics Officer at FICO, highlighted the critical role of blockchain in enforcing and proving Responsible AI practices. He stressed that the responsible use of AI is vital to society and must go beyond just pledges and ethics committees to ensure genuine accountability.

Please register here if you would like to attend or listen to any of the sessions today. 

About the London Blockchain Conference

NETWORK. LEARN. ENGAGE. 

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At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

View original content:https://www.prnewswire.co.uk/news-releases/london-blockchain-conference-day-1-highlights-302151978.html

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InScope secures $4.3m to revolutionise financial reporting and auditing

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InScope, a newly launched FinTech company, has successfully raised $4.3 million to expand its innovative financial reporting and auditing platform.

According to PYMNTS, the funding round included significant contributions from prominent investors such as Lightspeed and Better Tomorrow Ventures.

InScope is focused on transforming the traditional processes of financial reporting and auditing for private companies. The company leverages advanced technologies, including generative AI and large language models, to automate and streamline the compilation of financial statements—tasks that have historically been prone to errors and required extensive manual effort.

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The new capital will be used to enhance InScope’s platform capabilities. The company aims to shift accountants’ focus from laborious manual tasks to more strategic initiatives, thereby empowering finance professionals with tools to complete reporting and auditing tasks quickly and efficiently.

InScope’s system compiles data from a company’s core systems, such as ERP, along with publicly available information, and transforms these inputs into GAAP-compliant financial and audit documents.

InScope CEO and co-founder Mary Antony stated, “Our technology dramatically reduces the time and effort required for financial reporting and auditing, eliminating the need for outdated manual processes.” Her co-founder and COO, Kelsey Gootnick, also emphasized the transformative potential of InScope, which they conceived out of their own frustrations with existing financial processes.

The company has already begun collaborating with a select group of companies to refine and enhance their financial reporting capabilities. JC Bahr-de Stefano, a venture capital investor at Better Tomorrow Ventures, commented on this partnership: “InScope is already working with a handful of companies to help streamline their financial reporting needs and enable accountants to complete their reporting tasks in minutes instead of months.”

Source: fintech.global

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Citi extends USD Clearing service to Middle East in partnership with Emirates NBD

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Citi has partnered with Dubai-based banking group Emirates NBD to launch its USD Clearing service in the Middle East.

Through this collaboration, Emirates NBD will offer the USD Clearing service, along with its commercial and treasury payment execution capabilities, to corporate and retail clients via its branch networks in the UAE and Saudi Arabia. This service will enable clients to make cross-border USD payments with continuous availability, addressing current payment flow challenges posed by varying transaction cut-off times in the UAE.

“The introduction of 24/7 USD Clearing will support the growth ambitions of our clients by giving them the ability to seamlessly transfer funds in a timely manner without having to worry about cutoffs and holidays,” said Ahmed Al Qassim, group head of wholesale banking at Emirates NBD.

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Following the initial launch, the service will be extended to all Emirates NBD branches in the Middle East and globally, including partnerships with third-party institutions.

According to its website, Emirates NBD currently operates 853 branches in the UAE, Egypt, India, Turkey, Saudi Arabia, Singapore, the UK, Austria, Germany, Russia, and Bahrain.

Shahmir Khaliq, Citi’s head of services, described the collaboration as “an important step in our journey to creating a multibank solution that is designed to deliver an end-to-end, ‘always on’ experience for participant banks and their customers.”

“Our 24/7 USD Clearing service is a clear differentiator in the market,” Khaliq continued. “It demonstrates the full value of our globally leading cross-border payments and clearing capabilities, which enable our clients to make payments faster and in a more efficient and transparent manner.”

Source: fintechfutures.com

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New partnership between BIS and MAS targets climate risks in finance

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The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have recently collaborated on an innovative initiative.

The BIS, an institution dedicated to fostering international monetary and financial cooperation, and the MAS, Singapore’s central bank responsible for monetary policy, financial regulation, and supervision, have teamed up to tackle a pressing global challenge.

Their partnership aims to develop a blueprint for a climate risk platform designed to integrate regulatory and climate data. This platform will enable financial authorities worldwide to better identify, monitor, and manage climate-related risks within the financial system.

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The BIS, through its Innovation Hub Centre in Singapore, is addressing financial stability concerns posed by climate change. The MAS adds its regulatory expertise and focus on sustainable finance to the effort. Both institutions recognize the complex challenges posed by climate change, including significant data gaps and the difficulty of assessing associated risks.

Project Viridis, led by the BIS Innovation Hub, outlines the essential features and metrics of the proposed climate risk platform. This platform is designed to provide comprehensive data on financed emissions, exposure to physical risks, and forward-looking assessments under various climate scenarios. As the impact of climate change on global financial markets escalates, adaptive and innovative responses are necessary.

The partnership also leverages advanced technologies such as natural language processing to extract and analyze climate-related data from corporate disclosures. This enables a deeper understanding of financial institutions’ climate-related risks and identifies potential areas requiring more intensive risk assessment.

Maha El Dimachki, head of the BIS Innovation Hub Singapore Centre, stated, “Project Viridis demonstrates how regulatory data can be integrated with climate data, extracted from corporate disclosure documents using natural language processing techniques. This provides authorities with insights into climate-related financial risks, helping them form an initial view of financial institutions’ risk exposures and identify areas that may require deeper risk assessment.”

Source: fintech.global

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