Technology innovation in Financial Markets: Implications for Money, Payments and Settlement Finality
Book — A PhD paper review
Being a book nerd, processing information written by smart people is now a habit and a mental exercise — seeing a widening backlog of books and papers trains one to go through the best examples and discard the rest:
Ruth Wandhofer’s PhD paper stands out in the former — and is highly recommended since it comes from an reputable professional in the field of regulation technology and transactional banking sphere
Ruth pulled a feat to produce a balanced and 360 degree overview of what blockchain technology can and cannot do for corporate and retail payments and how certain platforms can benefit from utilizing pieces of tech: majoring in philosophy it conveys a value one can bring into the world of tech and also holds an important element often missed in praised speeches about DLT: the legal view.
Being a professional in banking tech that Ruth is, one has to understand the regulation implication since the legal school already researched well the clauses one still need even in a most revolutionary technology column. The book reconciles a variety of tech ways with current and emerging legislation.
Proper design from the very beginning is important: talking not just about how tech is used but how it would impact the cost structure of an incumbent wiling to import new tech: according to Reuters analysis published by Anna Irrera, overwhelming number of DLT projects launched by incumbents did not go past tests and PoC. Testing a tech is one but integrating it into the organization and governance framework is different and can do harm.