DLT: ESMA paper and Standards, Solent Swim, Olympics and Hype.


Happy Olympics!

And what an amazing Olympics it has been for Team GB. Hard to pick my favorite moment and event, but the Brownlee brothers has to be up there.

‘Success by design, not by chance’
One of papers I've been taking a closer look at is the ESMA consultation document on DLT. It is an interesting paper, from a securities market practitioner point of view. I found it a paper of 2 halves. An interesting bit that outlined some benefits and considerations and then a less useful part when they speculate on use case scenarios in both Clearing and then Settlement. Typical of a regulatory paper, the first question is: do you agree with all of the above?....and then: now, what did we not identify in the above question?
The paper includes DLT: Benefits, Challenges, Risks, Safekeeping and Reporting. Then a specific focus on the Regulatory Framework for each of Clearing and Settlement. I'm contributing to a couple of responses to the paper, so if you have a strong view you want to get across I'm sure I can find a medium to assist.

I've also been looking into Standards for DLT. (this weeks piccie!). We all know the importance of standards. My feel, is at this juncture, it's nice to have as much information as possible to make an informed choice about the chain you want to use for the application you're going to develop. The next step, is to start to put a measurement framework around this. (Hence the engagement with Academia and other standards bodies).
If you are interested in DLT standards please do reach out to me.

This week I'll also be undertaking my own challenge on behalf of MND.
I'll be swimming across the Solent, from the Isle of Wight to Portsmouth on Thursday.

....Unlike a triathlon or lake swim swimming across the Solent is a major safety concern as we will be crossing a major shipping lane, used by large freight vessels and oil tankers in and out of Southampton and also the route of the Portsmouth to Fishbourne Isle of Wight car ferry. Because of this we have to be very clear on our safety procedures. Shipping has right of way and we ALWAYS give way to shipping.....Please be aware that a large vessel will have a blind spot of up to 500 metres under its bow from the bridge....

I'll be doing the swim in the name of Dave Setters:

These days many people pick a charity and stick with it...and I very much respect that. If there are any readers out there who resonate with the MND cause then I'd (they'd) be grateful for any support at: https://www.justgiving.com/fundraising/ScottRiley-MNDSwim
For my part, I'm both grateful and respectful to Dave and the organisers for the opportunity to do this swim.

Have a great week all...and for those of you that support MND, many thanks in advance,


DLT / Blockchain

The Aussies have published a short information paper on their view on DLT standards. I think it's pretty poor as even at the highest level it still confuses sectors and use cases. (hence what hope for the underlying standards?)
Blockchain & Electronic Distributed Ledger Technologies

ItBit Hit With String of Departures in Bitcoin-to-Blockchain Transition

*** This re-org actually makes a lot of sense to me. I think we'll see a lot more demarcation in services and activities across all Bitcoin and then DLT firms.

The future of financial infrastructure: An ambitious look at how blockchain can reshape financial services

*** This is a 130 page paper that I confess, I've just browsed at.

Decentralized Autonomous Organization

..."On the Blockchain, no one knows you're a fridge" - Richard Brown

Despite Positive Outlook, New Research from State Street Reveals Asset Owners, Managers Lack Readiness for Blockchain

I read this game review with interest....and given the hype around blockchain, I enjoyed this reference to hype:

....hype can be a cruel mistress: she's elusive when you need her most, and demands a heavy payment after she's gone.... (This comment actually from a game review, but it resonated with me when applied to DLT).

Market Structure

Bats challenges FTSE with real-time UK benchmark indices

....Napoleon Bonaparte once observed that battles are won and lost in a quarter of an hour...

New management at MSEI (Metropolitan Stock Exchange of India Limited)


Glencore: Massive investment in coal mines needed.
Some interesting high level numbers here - highlighting the reality gap between Environmental asperations and real world practicalities.
Glencore have also published a great report on Climate Change and their business:
I love these reality checks against on environmental rhetoric.
“In a tumultuous world, marked by slow growth, excessive inequality, massive refugee flows, and sectarian violence, it’s tempting to believe we can reduce our exposure and increase our personal and economic security by turning inward and keeping the world’s problems out. We’d all like to have the benefits of global interdependence without the burdens. However, because there are disruptive forces we cannot escape, co-operation and collective action are much more likely than withdrawal and isolation to produce prosperity and security. For a nation as large, diverse, and successful as the UK, there is no escape from the growing pains and contradictions of the 21st century world.”
*** I did like Bill's (speech writer's) comment.
*** That said, I think the 'fear' of Brexit is overstated. I'm delighted to see Boris as Foreign Secretary. Right from the outset I think Boris had the right idea - not to abandon the EU...just to re-negotiate. 
LinkedIn to Microsoft: connecting global and corporate professional networks
*** Some hype from LinkedIn. Selfishly, I look forward to an easier interface with Skype. 
For product development...I look forward to an easier business card management tool.

*** Handy travel gadget!

Manhattanhenge: Thousands gather to see setting sun aligning with New York City's east-west streets
Manhattanhenge occurs twice a year either side of summer solstice around 28 May and 12 July.

...it could be argued that despite the talk of despondency, Australia’s has actually done quite well in Rio for a nation of its population and wealth. Yes, no doubt, a number of performers and teams failed to live up to their potential, but look at the countries above Australia on the table, all countries with bigger populations and bigger GDPs....

Perhaps Australia needs to consider that its period of well-planned, well-funded sporting over-achievement is over. The rest of the world has caught on and caught up, and unless the nation is willing to engage in a funding arms race merely for the cachet of sitting in about fifth place on an Olympic medal table, Australians best get used to it. Better still, it wouldn’t hurt to focus on what their athletes have achieved, and not what they haven’t.