Video: Bank of England Talks Blockchain at Open Forum 2015

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In  a “Livery Room” session during the recent Open Forum 2015 hosted by the Bank of England, blockchain expert Blythe Masters points out the efficiency of the blockchain technology in the settlement of assets and transfer of value.

“The role of central banks and other intermediaries as well in administering monetary systems and currencies would be rendered redundant. The idea is, the invention of technologies would allow peer to peer transfer of value and immunize the newly invented currency system from inflation, deflation, counterfeiting and anonymity,” said Masters.

Developments in digital technology also have the potential to re-shape the financial services sector, where many of the products and services offered relate to digitised information. One example is the distributed ledger technology (eg the blockchain). This technology underpins digital currencies and has raised the potential for payments to be executed through the reliance on trusted technology, rather than the reliance on a trusted central authority, with corresponding implications for payments and settlement within and across financial markets.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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