ISITC TALKTIME: Blockchain and New Capital Market Infrastructure
TalkTime Podcast: Blockchain and New Capital Market Infrastructure
In this latest ISITC TalkTime podcast ‘Blockchain and New Capital Market Infrastructure’, Gary Wright talks to Pinar Emirdag, a leading figure in blockchain and financial market innovation. Pinar shares her current work: building ventures in asset management and blockchain, specifically with Seven Rich and the Canton Network, where she’s involved as a “super validator.”
In part one, their conversation explores how blockchain and new digital infrastructures are transforming financial markets. The focus is on building interconnected efficient systems that serve a wider range of participants, especially smaller companies and startups. While legacy systems have shaped current markets, there’s a strong push toward innovation, interoperability and global access, with blockchain playing a central role in this evolution.
In part two their discussion delves into how financial market infrastructure is evolving, focusing on the high costs and complexity of current systems (such as stock exchanges, clearing, and settlement). The speakers discuss the potential for a more streamlined, nimble, and cost-effective infrastructure, possibly reducing or eliminating some traditional processes like clearing.
Pinar emphasizes that the transformation is not just about technology (like blockchain or AI), but about new business models and commercial opportunities. She notes that the lines between public and private markets are blurring, and that both traditional finance and innovative fintechs are converging to create new products and services. The adoption of new technologies is seen as a gradual process, driven by commercial incentives and network effects, rather than by sudden, large-scale overhauls.
The discussion also touches on the importance of data and regulatory standards. While data standards have traditionally been challenging, advances in AI and technology may reduce the need for rigid standards, allowing for more flexible data integration. Regulatory alignment remains crucial for innovation, as clear and consistent rules provide a stable environment for new business models to develop.
In conclusion, the speakers agree that the future will likely involve a mix of legacy and new systems, with innovation driven by commercial needs, cost and risk reduction, and evolving technology. Collaboration between traditional institutions, fintechs, and regulators will be key to realizing these changes.
Part One
Viewing time: 26 mins
Part Two
Viewing time: 23 mins
Pinar Emirdag is a financial markets innovator and business leader recognized as a pioneer in market structure, electronic trading, and digital capital markets. Her career spans global institutions, including JP Morgan, State Street, Citi, and the London Stock Exchange, and startups like Lava Trading and Clearmatics. She worked with numerous global regulators, leading academics, thinkers, doers, innovators, and challengers. Pinar serves on the Board of Directors of the Foundational Questions Institute. She holds a Ph.D. and M.Sc. in Physics and an M.Sc. in Engineering from Brown University.
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