IOB Team at the First China Financial Technology Enterprise Expo in Xiamen
As a part of the first China Financial Technology Enterprise Expo in Xiamen, the blockchain forum held on April 26th featured financial economists, prominent scholars as well as local and international industry experts discussing real life applications of blockchain technology.
Yale ReiSoleil, the CEO of IOB llc, delivered a keynote speech sharing insights into how the future of financial industry will be changed by the blockchain technology. “All the transaction fees will be eliminated from the commission point of view and will be based on small transparent transaction fees, which will be a lot more cost-effective and transparent.” IOB llc has already started realizing its aim to change the investment industry by providing its investors with immediate liquidity via exit to secondary market, unlike traditional funds that impose a lock in for 6–10 years. On a grand scale, the company is building a new global financial system that addresses security, scaling, cost and legal challenges that exist today.
From the perspective of Alexander Borodich, the Founder and CEO of Universa, a blockchain crypto protocol of the new generation, “blockchain will change the whole financial market drastically to eliminate all intermediaries, like banks, financial brokers, because all their functions will be done by software robots, which would run on top of the blockchain, [that is] a kind of new technological revolution, which allows us to switch from very inefficient and cost-ineffective financial services to a new, regulated, licensed and very fast financial network.”
The conference featured an engaging panel discussion with Uwe Zimmer, the chairman of Germany-based Fundamental Capital, an asset management company licensed to manage client accounts and securities on the stock market, which is one of the first financial companies in Europe to implement blockchain technology in its business model. Mr. Zimmer highlighted the significance of blockchain from a compliance point of view, as it is used to prove that Fundamental Capital database at no point can be changed or manipulated. “We are happy that IOB is one of our shareholders as we are waiting for a system which can be used to make all the securities and money market transactions happen on the blockchain in the future.”