ABOUT THIS EPISODE
A Future of Finance interview Ian Hunt, an Independent Advisor and Author.
Tokenisation enthusiasts are frustrated. A technology capable of transforming the entire financial architecture of the world is reduced to searching for “uses-cases” where it can mobilise or settle assets cheaper and faster than the status quo provided a “business case” can be made for making the investment. So the time was ripe for a restatement of the case for revolution. In Replicating Legacy is Squandering the Promise of Tokenisation: We Are Building a Faster Horse, Ian Hunt, a consultant to the asset management industry, and Steve Whyman, the former Head of Debt Capital Markets Trading at Fidelity International, provide exactly that. They warn that if tokenisation continues to develop on its present course, it will merely replicate the existing system, complete with its excessive costs, poor investment outcomes, duplicative infrastructures and operational, regulatory and legal silos. The opportunity the paper describes is to build a “composable” financial system made up of interoperable components that conform to a single design, which can be assembled into any conceivable financial asset or liability. Its promise is not just lower costs but wider access and higher returns. Dominic Hobson, co-founder of Future of Finance, spoke to Ian Hunt, co-author of the paper, about what a composable financial system is and how to make it happen.
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