Very topical. The same concerns arise and similar frustrations occur, when banks’ take an intellectually lazy approach to innovative corporate structures employing a mix of trusts, corporations, and LLPs as being presumptively malicious, as opposed to benign and solving only for tax, revenue and business strategy optimality.

Another particular concern is the outright rejection of electronically signed documents using Docusign or Echosign (since acquired by Adobe and now Adobe’s e-sign solution). Attempts to explain to banks in Singapore that they are subject to the over a decade old Electronic Transactions Act in Singapore that renders securely e-signed documents evidentially equivalent to physically signed documents often fall on deaf ears. Which is concerning to say the least.

Glad to see Otonomos being pragmatically vocal and proposing some good solutions.