Enabling Enterprise Adoption: Pushing Crypto into the Mainstream

Published on
October 26th, 2020
Duration
62 minutes


Enabling Enterprise Adoption: Pushing Crypto into the Mainstream

The Interview - Crypto ·
Featuring Gilbert Verdian and Santiago Velez

Published on: October 26th, 2020 • Duration: 62 minutes

Gilbert Verdian, CEO and founder of the Quant Network, joins Santiago Velez, co-founder & R&D Division Lead for Block Digital, to discuss the Quant and Overledger projects and the problems they were built to help solve. Verdian has a wealth of experience in cybersecurity for enterprise and details how he used this experience to build out standards to make blockchains interoperable. He sees the key hurdle for enterprise adoption of blockchain tech being the lack of interoperability between the new systems and the legacy systems and shares how Quant and Overledger helps to overcome that roadblock. Filmed on October 14, 2020. Key Learnings: For large scale enterprise adoption of blockchain to occur, these enterprises need the various crypto projects to interoperate with each other and with the legacy systems - Quant and Overledger present a solution to this. Knowing how these projects solve this problem deepens our understanding of how mainstream adoption may eventually be achieved, giving investors a framework to comprehend the barriers to adoption and the value that a solution to the problem may hold.

Comments

Transcript

  • SG
    S G.
    22 November 2020 @ 16:36
    Great video and content. Lots to absorb and I'm sure I don't understand everything. A couple of thoughts... I'm curious to understand the CBDC comments around 30mins in. Sounds like deflation in the future will no longer exist. How will we know what true growth is? Also, if central banks can pay direct into a digital wallet of each citizen, why bother working?
  • DK
    Damijan K.
    15 November 2020 @ 16:19
    Quant is new Internet of trust
  • DW
    Dean W.
    1 November 2020 @ 22:38
    Great interview with someone who understands the behind the scenes plumbing of the financial system who also brings strong security and digital money knowledge. Fascinating material. I enjoy Santiago’s interviewing style.
  • MD
    Matt D.
    28 October 2020 @ 03:41
    Think I agree with all of the comments below excellent interview and guest. Thanks Santiago and Gilbert. Weird - I noticed and just double checked - no thumbs down in the comments (except a cryptic comment about BTC or bitcoin). I am still thinking conceptually about what it means in terms of legalities and jurisdictions - not in a geeky way, but that the code (or coders) are the "powers"/government so to speak. At the moment, sending money (large amounts) also requires anti-money-laundering intel for one. When these system are up and running, they will be well ahead of other infrastructure. Someone needs to work on a global freight service or ?? (depends on what the $ transaction represents I guess) - ultra secure document delivery or ? to keep up. The idea of ownership may totally change. Looking forward to follow up interviews. Cheers.
    • AJ
      A J.
      28 October 2020 @ 10:50
      For Quant, regulators are as important as card merchants and companies that deal with financial systems. Cross-border innovation sandboxes like GFIN from FCA will be the standard
    • SV
      Santiago V. | Contributor
      29 October 2020 @ 17:15
      Your last comment "the idea of ownership may totally change" is spot on, although I would revise to say "the idea of ownership will totally change". The IMF is already in tune with this proposition. Think about what Uber / AirBnB did for the sharing economy, no imagine removing the 3rd party, and imagine again taking it global and for every asset class and intellectual property in the world. Yup.
    • MD
      Matt D.
      30 October 2020 @ 03:05
      Hmm, the mind boggles. Short Amazon then...?
  • BD
    Bryan D.
    28 October 2020 @ 06:00
    Great conversation and I learnt alot. Just one point of disagreement with a potential benefit of CDBC's with my experience in a bank Treasury for many years that even if we free up some intraday liquidity from use of CDBC's instead of batch payments and interbank payments it won't lead to any extra lending or a large change in cash at the central banks for two reasons. 1. We mainly hold excess cash at the central banks as the system is flooded with liquidity and this is where you usually have a reasonable return and a large credit limit so unless QE stops and excess reserves are drained this is unlikely to change and 2. the constraining factor on lending to corporates or retail is usually capital and credit risk limits. If we were running our cash position so tight that this freeing up of intraday liquidity would lead to extra loans or customer spending then we would most likely be in breach of our liquidity rules, Liquidity Coverage Ratio (LCR) in particular which requires us to have ready access to 30 days of liquidity outflows to maintain an LCR of greater than 100%
    • SV
      Santiago V. | Contributor
      29 October 2020 @ 17:13
      This the root problem. The Central Banks have a charter of economic growth / unemployment targets that don't always align with the individual LCRs of banks. CBDCs therefore come in two variants, wholesale / retail. Wholesale would make the inter-bank lending process more efficient but I think what you are really referring to are the limitation to issuing credit for the purposes of economic growth. It's precisely this limitation that the Central Banks are trying to circumvent with retail CBDCs, that say the Treasury can use to enact direct stimulus (UBI), tax policies by income, even interest rates on savings by income (a novel concept). The greatest threat to banks isn't crypto, it's disintermediation by CBDCs. Take a look at how the private sector can collaborate with Central Banks and banks to create more sophisticated forms of CBDCs that address some of these concerns: https://voxeu.org/article/cbdc-architectures-financial-system-and-central-bank-future
  • AS
    Ananth S.
    28 October 2020 @ 07:03
    I work in Cybersecurity, it's been my career for over a decade now. And I have so many OMG moments in this video and exactly know what Gilbert is talking about. I was thinking blockchain is going to disrupt our industry but this is a whole new ball game. Love this innovative thinking.
  • WB
    Warrick B.
    28 October 2020 @ 06:52
    Best crypto interview I’ve seen on Real Vision. Gilbert has incredible credentials and the scope of what Quant is doing with Central banks, enterprise etc would arguably put this business in a better position than any other crypto project. Well done Santiago, it’s was pure 🔥 No matter what scenario plays out: If hard money/the ultimate store of value wins, or Central bank digital currencies win, or they both can coexist, it just makes so much sense holding both BTC and QNT.
  • EL
    E L.
    27 October 2020 @ 14:31
    Excellent interview and talk. This kind of high level information is what I love about Real Vision. Really opened my eyes and got multiple aha moments. Thank you Santiago, Gilbert and Real Vision!
  • AJ
    A J.
    27 October 2020 @ 08:29
    Gilbert Verdian (in Telegram AMA) : "I’ve been working with PayUK, previously NPSO - Nation Payments Scheme Operating in my previous CISO role. I was responsible for the security for all the payments in the UK, £6T per year. We’re happy to continue to be involved, keeping the Board accountable and on track to deliver to create a vibrant UK economy. It’s a honour to help support. Also personally I’ve been appointed to the Cybersecurity Advisory Board of PayUK to help advise and guide the security strategy." Says alot
  • NL
    Nikola L.
    27 October 2020 @ 03:28
    Polkadot and QNT are the only crypto I hold.
  • DP
    Daniel P.
    26 October 2020 @ 08:34
    I might not understand all the jargon, but this guy's CV is unreal - worked at the highest levels in/with UK and US government and now collaborating with them to solve the problem of integrating to a new financial world. Wish I knew a bit more about whether they have any notable competition, and what level of adoption they've achieved so far.
    • LG
      Lucinda G.
      26 October 2020 @ 09:15
      Checkout the Quant Telegram community https://t.me/QuantOverledger or follow @CryptoSeq on Twitter. Both are good places to start your research 👍
    • SV
      Santiago V. | Contributor
      26 October 2020 @ 17:42
      Raoul's point about this space being a black hole for intellectual capital is an understatement. Once you grasp the implications of this technology, and this movement towards decentralization (Web 3.0 / 4.0) there is simply nothing else as compelling. This movement to digitization will swallow the entire world.
  • AP
    Alejandro P.
    26 October 2020 @ 16:41
    One of the best “Crypto” interviews so far on this platform. This guy actually has a head on his shoulders. He’s not some anarcho-capitalist that with pie-in-the sky poetic dreams of a free for all system. If you listen carefully to the last 5 minutes and are still bullish on BTC and Ethereum...listen one more time, sober.
    • AP
      Alejandro P.
      26 October 2020 @ 16:43
      I also don’t see his project scaling because bitcoin is already light years ahead. BTC is not bitcoin, just for clarity.
  • PJ
    Peter J.
    26 October 2020 @ 12:26
    Excellent, the possibilities look enormous
  • MP
    Marcela P.
    26 October 2020 @ 11:58
    Quant network is a shining star in Crypto. Any to any Interoperability is the key for mass adoption. Gilbert is a visionary. Thanks for the interview.
  • RP
    Raoul P. | Founder
    26 October 2020 @ 11:22
    Fascinating insight into the future and how all of this will connect together.
  • dv
    daniel v.
    26 October 2020 @ 09:42
    Incredible insights from mister Verdian. Sick to see how his background really led him here. Extremely qualified to overhaul the financial system and create an Internet of Trust. Exiting!!
  • WT
    WILLIAM T.
    26 October 2020 @ 09:23
    Great job Santiago! I noticed you ran out of time at the end to address some of the community questions so I hope they can be addressed in a return engagement. Gilbert has a truly mind-expanding vision of re-architecting the Internet and it will be amazing to follow him and Quant. For any who would like to learn more about Quant, I recommend the Telegram channels "Council of Quamf" for the more technically inclined or "Quant Network Overledger Community" for more basic information. Telegram links are t.me/councilofquamf and t.me/QuantOverledger .
  • dd
    diego d.
    26 October 2020 @ 08:44
    thnx