Crypto FinTech Systems: Can the Ultimate Trust Machine Be Trusted?
summary
Claims that blockchain is an “ultimate trust machine” meet practical limits: prototypes show value in tokenize transactions from origin and post-trade reconciliation but not in replacing regulated exchanges. Key tools proven useful are split keys and HSM, time-locks, MFA and hot/cold wallet separation; operational advice is a dedicated SecDevOps team and code review. Public chains expose governance, validator incentive and legal-readability failures (FTX collapse, Ethereum fork), and proof-of-stake reduces energy but concentrates power.
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chapters (13)
- 0:00Introduction and speakers
- 1:12Our organization and blockchain journey
- 2:36DeFi promises and challenges
- 5:10Convergence model for crypto and traditional finance
- 8:21Key risks in the convergence model
- 12:37Smart contracts limitations
- 18:06Validator incentives and risks
- 25:23Validation consensus types
- 31:18Governance and operational risks
- 36:26Regulation and financial system trust
- 40:04Convergence future and tokenization
- 43:25Key management and implementation advice
- 48:05Q&A and closing remarks
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