Smart Financial Contracts: Changing Capital Markets, Reporting and Regulation with well-defined standards and blockchain

Summary

Despite the massive investment in technology and exploding regulatory burden, Financial risk management faces persistent challenges within financial firms while systemic risks continue to grow.

Blockchain is touted as the silver bullet to all problems in finance.  However, only the combination of an algorithmic standard along with blockchain technology will truly solve problems in finance and risk management.

We will hear from three experts who have lived through the largest financial crises and have developed open source standards to improve financial risk management from the ground up.

We will discuss:

• The nature of financial contracts as the basis of finance
• Automated reporting based on XBRL accepted in 60 countries
• Blockchain smart financial contracts enabling
• The future of forward-looking regulation and systemic risk

Based on Szabo’s idea of smart contracts, we show how financial contracts can be represented algorithmically (ACTUS), how reporting will change to meet increased transparency and efficiency requirements (XBRL) and how regulation will adapt to better address systemic risk.

Finally, we show how we bring those concepts as necessary and sufficient conditions through smart contracts on the blockchain and highlight the impact this will have on capital markets.

Underlying all of this, are well-defined standards that can be understood by all and act as the sufficient condition for a True Smart Contract as defined by Szabo.

Presenters

Willi Brammertz: Chairman of the ACTUS Association, CEO of Ariadne and Nucleus Finance
Charlie Hoffmann: Father of XBRL
Hon. Allan I. Mendelowitz: President of ACTUS, Former chairman and director of the Federal Housing Finance Board
Ralf Kubli: Director of the Casper Association

Agenda

18:00 Welcome
18:05 Speeches
19:00 Q&A / Panel
19:30 networking drinks
20:30 end

Chapter Event

In our chapter events – access for members only – we present one or more speakers to share knowledge, updates and best practices on a specific risk topic. In small groups of risk professionals you can exchange thoughts and test ideas. More on SRA chapters. This event is hosted by the chapter Regulatory Developments.