Stellar Lumens SDF last month convened a two-day event to connect leaders from Ukrainian financial institutions with experts from the blockchain industry. This event is an attempt to support Ukrainian Financial Institutions to Leverage the Blockchain.
The Bill of Ukraine about virtual assets is set to face votes in the coming months. The financial institutions in the country are preparing for the implications of the new legislation. To provide for a thriving financial industry, it is becoming important to bring in the public and private sector together.
This event has been designed to provide for practical information for key stakeholders and decision makers in Ukraine who will be involved in issuing, regulating, and developing infrastructure for virtual assets. The representatives from the National Bank, Ukrainian parliament, and across the banking market were in attendance.
The forthcoming legislation will give the required clarity about the virtual asset industry. Financial institutions will be able to gain access to the process of using virtual assets to improve their offerings, while improving on their efficiencies. And, all this after the door to innovation opens up.
Major players in Ukraine will make the decisions which will shape the country’s virtual asset ecosystem in the forth coming months. The recent event was focused on deriving the answers for what business opportunities will they be able to pursue? How will they build the infrastructure to support new assets or services? And other questions. After deriving the answers for these questions, the focus is to take to actionable information.
Industry leaders who are building on the Stellar share the real world use cases with practical learning on subjects like compliance, anti-money laundering, tokenization, and lot more.
The presentations from the experts are accessible in the You Tube Channel. The ultimate goal is to help the Ukrainian leaders leverage the blockchain technology to provide for meaningful infrastructure and solutions. When deployed correctly, the blockchain will help benefit the local economy and end users without them having to sacrifice their oversight, accountability, or regulation.
Therefore, it is very important for the private sector to engage with the public sector, to make sure that the legislation balances the need for new and improved financial rails with the need to guard versus the innovations which empower illicit actors. When the public and private sector leaders get this right, it is possible to deliver on innovation which will be transformative.
The presentation in the event covered for different topics like what makes the stellar network powerful, disparate of circle on Stable Coins and cross-border payments, Crypto compliance and anti-money laundering, CBDCs and central bank digital management systems, fiat backed stablecoin issuance, digital assets and financial markets infrastructure and DSTOQ on Tokenization of non-currency assets.
Credit: Source link