Opinions

For all of the regulators’ progress over the years, many are still relying on an internal technology framework that was built for 1992, not 2022.

To create sensible rules around decentralized finance, regulators have to have an open discussion with businesses in the industry. To do that, they must create a path for collaboration.

Widespread sharing of financial and other data creates enormous privacy risks for consumers, many of whom have no real understanding of the danger.

We’re all entitled to our own opinion at work, but what if it starts impacting improvements and growth? 

Banks need to come together to create interoperable tokenized deposits, as part of an effort to bridge the gap between traditional finance and blockchain.

A clear, cross-agency regulatory framework is needed to help the industry embrace the promise of this new financial services paradigm.

Financial institutions need to begin sharing profiles of fraudsters posing as legitimate customers. The technology to do it securely is already available.

Fraud has evolved to defeat existing federal Customer Identification Program requirements. It’s time for regulators to modernize them.

Roughly two dozen countries have issued central bank digital currencies or have pilots underway. But until financial services firms strengthen the security of their mobile apps, these payment tools are unlikely to gain widespread acceptance.

The country that gets it right first will see rapid business and job creation, attract the world’s best and brightest minds and set the standard other nations will follow.