RSN - Regulated Settlement Network
- jimm1
Key Points
RSN POC combines business, technical, legal work streams for an interoperable FMI services for DvP, PvP
References
| Reference_description_with_linked_URLs_______________________ | Notes______________________________________________________________ |
|---|---|
| RLN - Regulated Liability Network & RSN | |
| DvP Delivery vs Payment Settlement Concepts | |
| members-of-the-u-s-financial-sector-to-explore-multi-asset-settlement-using-shared-ledger-technology/ | |
| sullivan-cromwell-and-digital-asset-to-join-the-regulated-settlement-network-proof-of-concept/ | |
Key Concepts
Automated Operations Governance
Automated Operations Governance - linkedin comment
DeFi technology "as is" fits some use cases that it has been successfully applied to. In the larger world of financial systems where regulations, compliance, governance, stronger trust and privacy are needed, simple use of existing DeFi architectures isn't a great place to start in my opinion. Model the use cases those other dimensions require rather trying to fit the problems to DeFi. If you look at the work that Swift and RSN teams have done, you can see the breadth of requirements and capabilties they are looking to support using an open, standards driven approach goes beyond the traditional DeFi platforms. I expect those efforts to produce solutions fitting broader market use cases for digital assets, services, trades, payments, settlements, credit with the existing government and institutional infrastructures better. One topic I've spent time with is automation of digital operations governance and efficiency, an area that deserves some focus in addition to the regulatory compliance built into smart contracts. There are very good use cases to add smart AI into operations.
Citi - Evolution of Security Services - 2024 report
Citi - Evolution of Security Services - 2024 report.pdf. file
https://www.citigroup.com/global/insights/all >> other insight articles
Potential impacts of digital assets, faster settlements ( T+1 ) >>
"returning 30% of clearing house margins 3 (through T+1), offering new services (such as digital asset infrastructures, private market securities or clearing) or helping to realize new scale (through market and platform consolidation), the need for action and execution has never been stronger."
Forces driving digital asset FMIs forward include:
"growing retail participation and regulatory pressures are also driving an increase in competition from many sides."
Thanks for the update and this report on surveys summarizing progress on the expansion and evolution of digital financial systems in 2024. I see supporting standards, regulatory, security and privacy protections with improved technologies for legal identity, credentials, authentications, authorizations, approvals and consents with automated digital governance, 3rd party digital verification services and market transparency will continue to drive better, faster, lower cost, lower risk onboarding of clients, accounts, compliance, transactions, real-time operations governance, sanctions enforcement and more. The open, collaborative, iterative process with feedback central banks, FMI parties, organizations are following provides faster innovation, market improvements with safer change management and protections for all parties. While standards and regulations are key for integrated market services, I expect there will not be a "one size fits all" network but standards driven, integrated networks.
Potential Value Opportunities
Potential Challenges
Candidate Solutions
Step-by-step guide for Example
sample code block