Shyfting the world in Brazil, presenting at the Financial Stability Board’s Financial Innovation Network Meeting

Shifting the world with the Financial Stability Board

Shyft Network
Aug 31, 2018 · 2 min read

This week, Shyft flew to present at Banco Central do Brazil, the Financial Stability Board (FSB) Financial Innovation Network‘s semi-annual meeting. It was an absolute honour to have Shyft chairman Joseph Weinberg and Shyft advisor Loretta Joseph in that room, presenting.

The presentation focused on addressing crypto-assets and regulation across jurisdictions. It was important to spend that time to the record straight on cryto-economics and various business models that enable our ecosystem, and reframe some of the ways top 38 central banks that were in the room think about the cryptocurrencies and blockchain ecosystem and what it is really enabling at a global scale.

Key takeaways

  • It took over 300 years to building the financial system we have today
  • Since the launch of Bitcoin Blockchain, the crypto ecosystem and networks have managed to create $250+ billion in network value
  • It felt great to be sitting in this room together
  • We don’t live in a vacuum, and scalability breakthroughs going into implementation in the next 12–18 months will change everyone’s tonality
  • Bitcoin is not energy intensive when you begin to build layers and anchor new assets classes and industries on top of it — and Joseph Weinberg asked the leaders of the world in the room to tell him what the 24-hour energy consumption costs look like to enable the European financial system alone.

We’re all in this together

It was important to us to get this key message across — that all these regulators, banks and important institutions are not alone; we’re all in this together. The protocol developers and builders find themselves in the same business territory— we write rules, protocols are regulation, too. We can and should work together to enable interoperability between our systems and our new economies. Protocols like Shyft Network help bridge these worlds and shift the status quo.

Here’s to making dent in the universe! Stay tuned for more updates.

***

Shyft is building the world’s first modern, secure, multi-stakeholder Blockchain-based trust network that enables KYC/AML attested data transfers. Join our Telegram (https://t.me/shyftnetwork), follow us on Twitter (https://twitter.com/shyftnetwork), GitHub (https://github.com/ShyftNetwork) and other channels found onhttps://www.shyft.network/

Shyft Network | Media

Shyft Network

Written by

Shyft is the credential verification network with proof-of-sender protocol and that reclaims trust, identity and credibility for humanity. www.shyft.network

Shyft Network | Media

News, insights, and thoughts on blockchain product building, networks and trust in decentralized age

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade