Deutsche Bundesbank Conference

From November 21, 2016 through November 24, 2016, The German central bank will be collaborating with the Frankfurt School of Finance and Management, and other supervisory authorities for the Deutsche Bundesbank Conference. The conference will revolve around debate opportunities and challenges that could be potentially faced with blockchain technology. Top representatives from various esteemed organizations such as central banks, financial institutions, EU Parliament, top blockchain industry leaders, and the academia will acknowledge views and debates on topics such as: The relationship between monetary policy and financial stability, Repercussions of long-standing expansionary monetary policy on financial stability, Practical regulation and supervision, and the future challenges of financial stability and monetary policy.

Who Will Be Speaking?

The event will include a number of personnel who have either discussed or implemented Ethereum in practice. Leanne Kemp, Chief Executive Officer of Everledger, a London start-up is using Ethereum to thwart diamond theft and fraud. Everledger utilizes Ethereum’s immutable blockchain ledger for diamond, and related, transaction history verification for insurance companies, claimants and law enforcement.

James Chapman, Director of Research for the Canadian Payments Association of Ottawa will also be speaking. This past June, in a panel discussion at Payments Panorama in Calgary, the Bank of Canada, the Canadian Payments Association and the Royal Bank of Canada stated that they have been experimenting with transferring a digital fiat currency called CAD-COIN with Ethereum.  

Matthew Commons, Chief Executive Officer of Cambridge Blockchain, LLC recently highlighted on “Payments on Fire”, a podcast from Glenbrook, a payments industry strategy consulting and research firm, that when it comes to cryptographic proofs, “Ethereum is probably the one that is most well used for this right now.”

Charley Cooper, Managing Director of R3, a blockchain technology company consisting of more than 70 of the world’s financial institutions, will also be in attendance; Furthermore, Ethereum holds a top position among the blockchain platforms being investigated by R3. As a result, Ethereum creator Vitalik Buterin was commissioned to produce a written report entitled “Ethereum: Platform Review – Opportunities and Challenges for Private and Consortium Blockchains” The 44-page report gives a detailed and concise overview of Ethereum design, upcoming technical developments and it’s applications to private systems.

Wim Raymaekers, Global Head of Banking Market SWIFT, will also be in attendance. In a recent in-depth report, the secure messaging service stated that “SWIFT is also actively experimenting with technologies in the Ethereum ecosystem of products.”  In addition, Blythe Masters, CEO of Digital Asset Holdings, will be speaking on the panel. Blythe has a history of being a stout supporter of blockchain technology and hopes to bridge the gap between blockchain technology and capital markets.

What This All Means?

If successful, the Deutsche Bundesbank Conference could help drive better defined regulation and legislation for virtual currencies and blockchain technology. Easily understandable regulations could also produce an influx of opportunities and continue to spur lucrative investment into the Ethereum ecosystem. As of late, numerous Ethereum-based startups have been welcomed with high acclaim. ICOs are abundant, and the ecosystem as a whole is thriving.  The current Ethereum 'market cap' is estimated at $829,128,289, a direct reflection of confidence in the cryptocurrency. As conferences like this are becoming more common, it’s safe to assume that optimism remains high on Ethereum, and that the financial industry will push for more use cases, ushering in a much needed main stream adoption.