Genesis Block team members and other thought leaders from the worlds of finance and technology discussed The Future of Finance at Fluidity Summit 2018. As part of the event, Genesis Block co-founder Lee Schneider moderated a panel discussion on Tokenization and the Path Towards Liquidity.
“Rather than focus on whether a token is a security, we tried to talk about what the broad world would be like when you can tokenize anything,” says Lee. “People go online and see digital representations of what they want to buy every day, whether it’s a song they want to download or 500 rolls of toilet paper. That’s all blockchain tokens are: digital representations of anything from a song to rolls of toilet paper to equity in a company. And the point of having a digital representation is it makes everything more tradeable. Every digital representation on Amazon is something you can trade with or through Amazon. With blockchain, it’s conceptually the same thing, except now you can trade with anybody who’s on the same blockchain. The cool thing about blockchain is that it can be used to divorce assets from a central authority. But the even cooler thing is, it lets you know that you’re buying the only one of that digital thing.”
Genesis Block co-founders Lee Schneider and Sam Proctor, and Scott Rothman, president of our broker-dealer affiliate, attended Consensus 2018, CoinDesk’s 4th annual blockchain technology summit. “It was awesome to see all the amazing blockchain projects and solutions,” says Lee. “This year’s Consensus clearly demonstrated that blockchain has officially arrived and is now moving into the next phase of its evolution. Part of that evolution is the emergence of the security token and the SEC’s growing regulatory view. We can expect to see continued momentum behind security tokens throughout the rest of 2018 and beyond, accompanied by an expanding role for registered broker-dealers and a higher bar for compliance with securities laws and regulations.”
It was a lively debate at the CDX Academy Blockchain Brand Innovation Summit as Genesis Block general counsel and strategic advisory manager Cathy Yoon moderated a panel discussion entitled Can Blockchain Transform Healthcare?
“When people talk about blockchain, the most obvious use case is healthcare — driving business efficiencies, channeling transparency and so on,” says Cathy. “However, not everyone is convinced. From the perspective of hospitals and healthcare systems, such blockchain solutions may be too expensive and impractical to implement at this time. That doesn’t mean hospitals or healthcare do not believe in the power of blockchain. It just means blockchain developers may need to do more research into how healthcare systems really work before they can make a difference.”