►
From YouTube: Capital Markets SIG Roadmap for 2022- First meeting
Description
CBDC feedback to the Fed
Disconnected wallets
CBDC feedback to HKMA
Green bonds
ESMA feedback
Neferti a hyperledger lab
Social consiousness
From NFTs to FTs
----
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A
A
A
A
We
are
meeting
as
an
open
group
inside
hyperledger,
so
we
have
to
adhere
to
a
couple
of
standards.
One
is
the
antitrust
policy
and
the
other
is
the
code
of
conduct.
These
are
important
things
that
we
have
to
be
aware
of
important
constraints
that
we
have
to
be
aware
of,
and
the
details
are
to
be
found
in
the
meeting
minute
meeting
minutes
notes
that
I
had
sent
earlier
in
the
chat.
B
Sure
sure
I
can
do
that,
no
problem,
so
for
anyone,
that's
new,
that's
joining!
You
know.
This
group
is
similar
to
these
other
special
interest
groups
at
hyperledger
if
you've
participated
in
any
of
those.
If
this
is
the
first
time
you're
here,
one
way
to
participate
is
to
join.
These
call
calls
regularly.
You
know,
vipin
does
a
great
job
of
suggesting
items
for
the
agenda
or
finding
us
good
speakers,
but
the
agenda
is
something
that
is
open
for
anyone
to
contribute
to.
B
For
example,
in
order
to
technically
like
officially
join
the
group,
you
you
should
subscribe
to
the
mailing
list,
it's
how
we
send
out
communications
about
meetings
or
some
of
these
discussions
and
and
proposals
of
activities
or
presentations,
so
I'll
post
that
in
the
chat
in
a
second.
In
case
you
haven't
done
that
we
also
have
a
page
on
our
wiki.
This
is
where
you'll
find
an
overview
of
the
capital
markets,
special
interest
group,
the
media
notes
and
agendas
where
the
recordings
will
be
added
for
meetings.
B
B
This
is
now
going
to
be
monthly
at
this
time
and
we've
replaced
the
other
bi-weekly
with
an
apac
session
of
this
meeting,
and
I'm
forgetting
now
what
time
that
happens.
It's
it's
some!
It's
it's
a
wednesday
night
on
the
east
coast,
but
I'll
share
the
calendar.
So
you
can
add
this
meeting
or
that
meeting
to
your
calendars
and
attend
those.
B
You
know
that
one
will
focus
more
on
all
the
different
things
happening:
capital
markets
in
asia
and
there's
a
lot
going
on
there
and
so
and
and
it's
hard
for
those
participants
to
join
here.
So
so,
we've
we've
added
a
another
time
to
the
agenda
that
we
have
in
in
this
sig
and
I
think
that's
going
to
be
a
really
great
way
to
bring
get
more
people
involved
in
the
group.
B
C
A
10
p.m.
On
wednesdays,
which
means
it
is
going
to
be
11
30
on
in
this.
You
know:
daylight
savings
time
time
frame
of
11
30
a.m.
The
next
day
in
hong
kong
and
8
30
a.m.
Indian
standard
time,
so
that
from
then
from
indian
standard
time
on,
I
think
all
the
people
who
are
east
of
that
could
attend
those
that
meeting.
But
you
know
europeans
probably
cannot
because
it's
going
to
be
in
the
middle
of
the
night
or
early
morning.
So
anyway,
we
do
have
this
meeting,
which
is
the
regular
time.
B
A
There's
somebody
on
chat
here:
okay,
yeah!
That's
karen
join
the
mailing
list.
So
if
I
want
to
share
my
screen
and
talk
about
the
you
know,
I
am
operating
on
a
laptop
computer.
So
it's
difficult
for
me
to
interact
multi-dimensionally,
but
I
can
try
to
share
this
screen.
And
can
you
see
the
screen?
It's
it's
good.
A
A
So
this
year's
projects
consists
of
an
efforty
which
I'll
go
into
later
and
then
a
solution.
You
know,
cbd
sees
various
views
on
cbdcs
and
sandy
is
going
to
talk
about
the
fed
feedback,
which
is
second
one
and
then
green
bonds,
which
there's
been
much
activity
on
that
and
we're
going
to
have
two
presentations.
A
One
in
hong
kong
on
the
bis
green
bonds
and
here
money
will
set
up
a
talk
on
the
green
bonds
that
he
has
actually
created.
It's
not
even
a
poc
and
then,
of
course,
the
problem
of
putting
any
serious
system
out
consists
of
identity,
tokenization
security
standards,
interoperability
and
regulation,
and
then,
of
course,
acid
digitization.
A
The
one
thing
that
is
not
here,
which
is
about
certain
problems
in
cbdc's,
one
of
them,
is
the
offline
use,
and
stefan
had
sent
me
a
note
this
morning
and
actually
we
did
have
some
talks
on
that
topic.
One
is
a
smart
card,
a
solution
for
offline
usage
and
another
one
is
crypto
banknotes,
which
is
a
amalgam
of
regular
bank
nodes
and
crypto
crypto
in
the
sense
of
cryptography,
so
cbdc's
can
be
implemented
with
that
and
that
can
allow
offline
usage.
A
D
Yeah,
hey
weapon!
Thank
you
very
much.
Thank
you
karen.
So
I
think
let
me
actually
just
undo
my
video
thing
here.
Well,
first
of
all,
hello
good
morning,
everybody
you
guys
can
hear
me.
Okay
right,
yes,
okay,
very
good
thanks,
so
ripping.
Thank
you
very
much
for
helping
with
starting
this
up
so
well.
I'll,
basically,
just
drive
this
back
into
the
really
excellent
document
article
you
had
actually
written
when
in
folks.
D
Basically
as
a
response
to
the
cbdc
paper
that
came
out-
and
essentially
my
suggestion
here-
was
that
there's
a
lot
of
moving
parts
in
the
cbdc
world
right
now,
as
we
I
mean,
of
course,
you
you've
been
obviously
leading
the
space
very
actively.
I've
actually
been
a
bit
of
a
slight
of
inactive
participant,
but
I'll
definitely
love
to
get
more
involved
in
this,
and
as
a
way
to
do
this,
I
was
thinking
we
could.
D
You
know,
start
up
this
joint
response
in
joint
analysis,
and
I
think,
as
david
also
mentioned,
that
I
think
this
will
be
getting.
This
is
actually
pretty
interesting
that
they
haven't
really
asked
any
specific
groups
and
they
obviously
just
on
top
of
the
fed.
They
just
illustrate
the
response
from
pretty
much
everybody,
and
you
know
it's
gonna
be
long
crosses,
but
I'm
not
sure
if
everybody
had
a
chance
to
look
at
the
reiki
page.
D
We
can
actually
discuss
these
and
wonder
subtopics
as
weapon
is
heading
these
meetings,
so
we
can
bring
these
things
up.
We
can
basically
say
like
any
for
any
of
the
questions
for
which
we
have
enough
comments
back
on.
We
can
bring
those
questions
up
in
these
discus
forwards
and
we
can
talk
about
the
back
and
forth
from
that.
E
A
Yeah
in
a
in
a
minute,
because
I
want
to
just
set
the
scene
for
a
minute,
one
is
the
fact
that
fred
has
come
back
at
such
a
late
date
when
things
are
moving
everywhere
else
in
a
much
more
advanced
stage,
and
also
they
haven't
provided
the
paper
that
they
had
promised
on
the
technical
merits
which
was
supposed
to
come
out
of
mit
and
the
fed
boston,
which
is
in
fact
in
charge
of
payments.
So
if
you
note
there
are
12
fed
centers
right,
each
center
is
responsible
for
a
particular
aspect.
A
For
example,
new
york
is
responsible
for
open
market
operations,
which
is
a
way
of
saying
they
intervene
in
the
markets
for
repos
and
so
on,
and
the
boston
fed
is
taking
the
lead
on
payments,
so
they
are
supposed
to
come
up
with
this.
This
paper,
this
paper
technical
paper
on
experimentation,
which
was
promised
last
year
in
june,
but
it
has
still
not
hit
the
hit
in
terms
of
other
cbdc
projects
around
the
world
and
in
terms
of
our
own
interaction
with
them.
A
A
So
I
it
was
a
little
embarrassing.
I
didn't
want
to
bring
it
up,
because
I
had
roundly
criticized
the
paper,
so
I
did
not
say
anything
about
it,
but
remember
we
have
an
in
into
those
people
who
are
at
the
height
at
the
top
of
the
fed
when
they
come
to
addressing
those
22
questions,
and
I
didn't
even
ask
him
the
question
about.
When
will
the
technical
paper
be
available,
because
that
was
asked
by
many
participants
on
the
q?
A
A
we
did
not
have
much
time
to
go
through
all
that,
but
anyway,
let
let's
not
dwell
on
the
past.
We
are
going
to
talk
about
the
future
and
I
am
hopeful
that
there
is
a
qualitative
difference
between
a
cbdc
that
is
put
out
by
an
open
economy
compared
to
a
cbdc
paper.
I
mean
cbdc
itself
put
out
by
certain
other
big
economies.
A
This
is
very
much
highlighted
in
the
discussion
yesterday,
so
I
think,
without
dwelling
further
on
it,
the
most
cash-like
aspect
of
cbdc's
would
be
offline
access
and
stefan
is
going
to
tell
us
what
he
he
wrote
on
this
particular
topic
in
linkedin,
which
came
up
in
my
feed
this
morning,
and
also
of
course,
he
communicated
it
to
me
personally.
But
you
know.
E
E
This
is
not
really
related
to
the
topic
of
cbdc.
I
mean
there's
outside
of
that
managed
by
the
ecb,
the
european
sound
bank.
There
is
a
digital
europe
digital
year
project
which
I'm
really
not
really
involved
in,
but
I'm
much
more
aware
of
the
digital
wallet
proposal
that
is
being
put
together
and
as
much
as
mentioned
by
vpn
there's.
E
There
is
an
interesting
feature
in
that
wallet
in
that
it
has
to
support
the
offline
mode
and
there's
there's
a
question
as
to
what
does
that
imply
and
whether,
in
fact,
it's
technologically
neutral
or
not-
and
I
think
we
have
been
considering
this
as
a
in
a
short
paper
which
I'm
very
happy
to
to
share
with
the
rest
of
the
team.
Now
I
mean
they
say
it,
it's
a
it's.
A
kind
of
you
know
it's
not
for
the
super
specialists.
E
It's
meant
to
be
of
a
paper
aiming
at
a
wider
audience,
so
you
won't
find
a
lot
of
technical
information
on
it,
but
it
it
covers,
hopefully
a
fair
amount
of
ground.
We
did.
We
also
did
a
previous
paper
on
why
the
payment
use
case
is
critical
for
the
digital
identity
wallet
which,
which
is
also
available.
So
on
the
cbdc
itself.
I
mean
I
I
have
again,
you
know
my
knowledge
is,
is
much
more
limited.
E
I
certainly
do
have
a
lot
of
interest
in
what's
happening
in
china
because
they
seem
to
be
miles
ahead
of
the
rest.
In
this
respect,
I
I
accept
that
they
are
probably
making
a
number
of
changes
that
are
or
made
a
number
of
taken,
a
number
of
options
that
would
not
be
necessarily
relatable
to
everybody,
especially
when
it
comes
to
surveillance-
and,
I
would
say,
privacy
issues-
that's
very
likely,
but
still
it's
an
interesting
experiment.
It's
the
first
full-fledged
massive
mass
muscly
massively
deployed
project.
E
I
don't
know
if
you've
seen
the
sun
bank
of
china
released
information
last
week,
saying
that
the
app
had
been
downloaded
by,
I
think
they
had
260
million
users,
which
is
you
know,
one-fifth
of
the
of
the
chinese
population.
It's
hard
to
believe
that
it's,
but
you
know
that's
what
they're
saying
and,
and
it
is
supposed
to
work
offline
as
well,
which
of
course,
would
be
a
lot
very
interesting.
Unfortunately,
there
is
not
that
much
information
available.
I
don't
know
if
you've
discussed
this
in
previous
group
meetings.
E
That
would
be
very
interesting
for
me
to
know,
and
one
last
comment
I
would
say
because
I
was
I
was
puzzled
by
the
one
of
the
titles
that
you
you
mentioned.
I
presume
people
are
aware
of
the
house
of
the
lord
in
the
uk,
the
hasselblad
report
on
cbdc,
which
is
quite
critical
of
cbdc,
actually
and
it's
titled
sandbank
digital
currency,
a
solution
in
search
of
a
problem,
question
mark.
So
that's
about
it
really.
I
don't
know
if
what
else
I
I
can
say
for
time
being.
A
A
A
He
claims
that
the
chinese
have
adopted
a
very
simple
thesis,
which
is
the
cbdc
ecny,
should
most
look
like
cash
with
privacy
features
and
so
on.
So
all
these
people
who
keep
talking
about
surveillance
of
chinese
of
the
chinese
solution
are
in
fact
ignorant
of
the
actual
mechanics
of
it.
So
especially
for
smaller
value
payments,
it
seems
like
it
permits
offline
usage,
so
they're
they
are
implementing
using
tiered
wallets,
which
means
like
you
can
hold
up
to.
A
E
A
Well,
one
of
the
problems
that
I've
been
coming
up
with
my
identity
hat
is
that
the
measures
that
have
been
flowing
through
fatf
are
not
exactly.
You
know.
There
are
problems
with
implementing
those
measures,
because
you
can't
say
that
technology
and
regulation
have
nothing
to
do
with
each
other.
You
cannot
create
a
regime
of
regulation
that
cannot
be
implemented
at
a
lower
cost
or
in
a
short
period
of
time,
because
if
you
do
that,
then
people
are
just
going
to
tick
a
box
saying:
oh,
we
have
done
this.
We
have
done
this.
A
We
have
done
this
and
actually
they
have
actually
only
done
it
in
as
a
box
sticking
exercise
rather
than
in
reality.
So
there
has
to
be
some.
You
know,
push
back
against
this
kind
of
a
regulatory
regime,
but
that's
a
separate
topic
now.
I'm
gonna
skip
ahead
to
another
thing,
and-
and
we
can
talk
about
this
at
length
in
a
another
meeting,
stefan
about
offline
and
sandy.
Of
course,
we
will
engage
with
that
cbdc.
A
A
So
this
you
know
it's
22
questions.
Some
of
them
are
very
basic
anyway,
coming
back,
there
are
two
other
things
that
we
should
talk
about.
One
is,
of
course,
the
green
bonds,
which
we
have
here
in
the
form.
You
know
there
are
two
people
here
who
can
talk
a
little
bit
about
it?
One
of
them
is
money,
of
course,
the
acme
you
know
of
actual
real
solutions.
A
C
Yeah
sure
hi
everybody,
this
is
I'm
manipulate
from
otc
digital.
You
mean
associated
with
weapon
and
we
have
done
several
works
together,
one
of
them
a
cbdc
white
paper
and
another
one
is
actually,
we
did
a
a
project
on
hyperledger
as
a
prototype
to
actually
implement
a
cbdc,
and
we
open
sourced
it
it's
available
for
anyone
to
download
and
test
it
out
and
actually
it's
being
used
from
the
climate
sig
group
for
their
own
use
of
for
the
for
their
own
carbon
credits.
C
So
that's
the
you
know
background,
but
the
larger
fact
side
by
side
on
to
the
cbdc
there's
a
much
bigger
initiatives
happening
in
the
marketplace,
which
is
the
regulated
digital
assets.
Everything
from
you
know
private
equity,
to
bonds
to
your
structured
products.
There's
a
lot
of
initiatives
in
the
marketplace
by
the
by
the
banks,
and
to
that
extent
the
green
bond
is
is
form
is,
is
part
of
that
initiative.
C
The
the
important
thing
is
that
is
now
the
regulators
have
started
at
least
putting
together
frameworks.
They
have
some
sandboxes
and
also
now,
I
I
put
out
a
link
to
to
asthma,
which
is
now
asking
for
inputs
from
you
know:
capital
markets
participants
as
to
how
would
they
regulate
a
new
digital
ledger
technology,
a
a
regulated,
dlt
platforms
for
digital
assets,
and
this
is
something
that
we
are
very
keen
on
responding
to.
C
If
anyone
is
interested,
you
know
happy
to
collaborate,
although
the
time
frame
is
very
short,
it's
by
the
first
week
of
march,
so
we
might
have
to
do
it
offline.
If
anyone
is
interested,
please
reach
out
to
us
to
me
or
the
weapon
on
the
on
the
green
bonds.
Yes,
the
the
intention
is
for
us
to
look
at
the
entire
life
cycle
of
issuance.
C
Obviously,
the
initial
interest
is
on
stable
coins
because
we
don't
have
a
in
a
major
cbdc
up
and
running,
but
the
intention
is
that
is
these
bonds,
whether
it
is
copper,
bonds
or
green
bonds
would
then
be
actually
be.
You
know
settled
in
real
time
using
stable
coins
or
cbdc,
so
it's
all
interrelated.
So
you
know
this
is
something
that's
going
to
be
interesting
topic
this
year
as
there's
a
lot
of
initiatives
from
the
industry
and
would
like
to
collaborate
and
discuss
further.
A
F
Hi
and
thank
you
very
much,
and
just
after
my
update
just
like
to
we
circle
back
to
something
you
mentioned
regarding
the
cbd's
dc.
So,
yes,
we
are
looking
over
here
in
indonesia,
hong
kong,
to
pick
up
with,
with
with
bis,
we
have
an
initial
meeting
with
them.
This
friday,
myself
and
julian
julian
gordon,
and
we
were
initially
picking
up
with
marcel
who's,
been
running
the
genesis
protocol
program
for
bis
here
in
hong
kong
on
behalf
of
bis,
innovative
hubs.
F
He
will
be
rolling
out
from
that
from
that
program
by
the
end
of
this
month,
so
we
are
also
when
we
speak
to
him
on
friday.
We
do
have
an
alternative
and
it
will
probably
be
his
boss.
Who
will
be
able
to
do
the
presentation
for
us
we're
thinking
about
a
presentation
in
february
or
march
and
as
vipping
you
mentioned
earlier,
whatever
presentation
we
pull
together,
we
will
make
sure
that
it
is
recorded
and
therefore
accessible
for
people
who
will
not
be
in
this
time
in
this
time
zone.
F
F
And
so,
if
anybody,
if
anybody
has
some
specifics,
that
they
want
us
to
talk
about
in
relation
to
to
to
genesis
to
bis
genesis,
project
or
as
you
or
as
you
probably
would
have
seen,
I
I
think
I
shared
today
the
latest
link
from
bas,
where
they've
spoken
about
their
new
agenda
for
2022
and
you'll,
see
that
they've
got
genesis,
2,
which
will
be
being
rolled
out
this
year
as
well.
There's
another
project,
so
we're
very
happy
to
put
any
questions
to
them
on
our
behalf.
F
It's
quite
late
here,
but
just
in
relation
to
and
the
very
good
work
that
karen
and
yourself
and
others
have
been
doing
in
relation
to
cbdc's
and
you
and
I
were
both
lucky-
that
we've
respectfully
had
moderator
sessions
with
people
from
from
biz
on
that.
Just
in
relation
to
the
the
uk
piece
and
that
parliamentary
note,
which,
whilst
I
just
hear
the
comments
that
it
is
anti
well,
it
says
the
problem
statement.
They
saw
no
reliable
use
case
at
the
moment
for
cbdc's.
F
In
that
sense,
they
were
talking
about
retail
cbdc's,
as
opposed
to
wholesale
cbdc's,
and
one
of
the
things
I
would
say
about
that
parliamentary
paper
is
that
I
would
recommend
anybody
to
read
through
the
some
of
the
subsequent
notes
and
data,
because
it's
probably
not
the
best,
as
I
would
say
so.
I
think
they'd
be
misinformed
for
my
for
myself
about
reading
some
of
those
papers
and
data
sets
in
relation
to
the
length
of
questioning
that
they
did
for
the
for
the
british
public
in
relation
to
pulling
that
paper
together.
F
You
know
only
interviewing
1,
500
people
and
then
drawing
conclusions
from
that.
I
think
is
quite
difficult
and
just
in
relation
to
hkma
over
here,
we
also
have
a
paper
come
out
and
looking
for
feedback,
there's
only
seven
questions
and
it
relates
to
stable
coins
and
it
also
technically
touches
on
cryptocurrency
unless
to
less
extent
see
with
dc's.
F
A
Well,
to
talk
about
that
particular
aspect
like
a
solution.
Looking
for
a
problem
that
has
already
been
that
phrase
has
already
been
used
by
two
members
of
the
fed
calls
and
waller
who
had
made
speeches
against
cbdc
and
their
argument
is
stable.
Coins
will
fill
the
void.
I
know
that
many
others
in
this
group
also
feel
that
same
way,
but
this
is
a
private
currency
deal
and
the
cato
institute
has
also
come
out
against
the
fed
paper.
A
Saying
that
you
see,
retail
cbdc
is
not
necessarily
necessary
because
the
private
stable
coins
will
take
care
of
it,
but
in
the
end
they
do
say
you
got
to
have
insurance
with
the
fed
or
a
narrow,
a
narrow
bank.
So
ordinary
citizens
are
not
allowed
to
have
a
digital
representation
of
cash,
which
is
the
most
secure
form,
but
instead
will
rely
on
something
that
is
issued
by
private
agencies,
who
will
then
all
have
that
that
luxury
of
having
the
fed
or
the
central
government
agencies
insure
their
holdings.
It
doesn't
make
sense.
A
Cash
is
already
there
and
we
need
digital
equivalent
of
cash.
That's
my
view
anyway,
and
you
know
a
lot
of
people
push
back
against
it,
but
they're
all
coming
from
private
interests
who
are
celebrating
private
cash,
private
issuance
of
money
which
is
happening
today.
All
banks
issue
private
money,
but
they
are
regulated
and
they
are
controlled.
A
You
cannot
have
you
know
par
convertibility
to
other
forms
of
central
bank,
digital
currency
from
money
that
is
generated
in
the
private
sphere
without
having
control.
That's
you
know
again,
it's
my
view,
but
I
think
it's
rooted
in
reason.
Not
just
you
know,
based
on
my
private
gain,
you
know
I'm
not
arguing
for
for
it
for
private
gain.
A
A
Yeah,
so
that
you
know
this
kind
of
stuff,
where
you're
pulling
the
wool
over
people's
eyes.
So
nefertiti
is
an
effort
to
address
some
of
these
with
actual
core
with
actual
solutions
we
are
going
to
generate
nfps.
Just
like
you
know,
in
multiple
platforms
and
several
people
have
joined
together
on
this
effort
and
probably
it
will
go
further
than
nfps,
but
anyway,
I
think
andrea
who's
on
the
call
and
alfonso.
A
Where
were
also
people
who
talked
with
me,
and
we
launched
this
effort,
maybe
about
two
months
ago,
but
I
wrote
the
nft
proposal
and
it
has
been
accepted
into
hyperledger
labs
as
nefertiti
and
alfonso
and
or
andrea
can
comment
more
on
that
for
about
five
minutes,
and
then
I
want
to
ask
mark
liberati
who's,
also
on
the
call
to
talk
a
little
bit
about
his
efforts,
so
andrea
or
and
or
alfonso,
do
you
want
to
respond?
If
one
of
you
do
I'd
be
glad
to
go.
G
F
G
Please,
okay
I'll
be
very,
very
brief.
I'm
alfonso
vela,
I'm
part
of
the
hyperledger
latin
america
regional
chapter
and
most
interested
to
work
in
this
project
of
nefertiti,
which
would
be
what
I
find
most
most
interesting
is
answering
with
real
solutions.
The
main
criticism
against
with
me
with
the
issue
of
centralization,
okay,
as
if
we
just
pointed
out
correctly,
if
you
have
three
gatekeepers
to
that
part
of
the
decentralized
world.
G
F
G
D
So
one
thing
I'm
also
trying
to
lead
is
the
blockchain
gaming
aspect,
and-
and
this
is
also
a
very
interesting
topic
in
that
area
as
to
how
do
you
well
not
just
the
centralization
part,
but
also
how
do
you
really
capture
context
and
then
of
these,
so
so
I'll
actually
reach
out
to
both
you
to
alfonzo
webb,
and
I
definitely
want
to
catch
up
on
that
in
more
details.
Thank
you.
A
H
Now,
thank
you,
I
mean
actually
on
the
nft
discussion.
We
had
looked
a
bit
on
this
as
part
of
our
digital
currency,
global
initiative
policy,
working
group
that
were
we
worked
on
together,
but
our
focus
I've
been
working
on
mostly
is
consumer
protection,
competition
and
dispute
resolution,
and
we
took
the
view
more
from
the
consumer
protection
standpoint
in
really
seeing
the
way.
It's
being,
it
has
analogies
to
sort
of
collateralize
debt
instruments
as
and
those
can
then
be
made
into
fungible
securities.
That
would
then
be
the
fungible
side
of
the
tokens.
H
So
that
was
one
aspect
that
we
had
looked
about
from
the
consumer
protection
standpoint
and
how
you
could
verify
for
the
consumer
what
those
underlying
assets,
those
unique
assets
that
are
sort
of
then
claimed
by
the
nft.
Also,
I
think,
from
a
from
a
legal
background.
I
think
there's
a
little
a
lot
of
interesting
developments
on
the
legality
of
nfts,
of
physical
assets
when
thinking
around
real
property,
but
also
the
potential
upside.
This
could
bring
to
a
very
more
digitized
sense
of
of
property,
accounting
for
property,
tax
collection,
public
policy.
H
So
that
was
sort
of
the
three
points
on
nfts
and
then,
of
course,
on
the
digital
currency,
global
initiative.
Working
group.
My
partner
is
focusing
on
cbdc
we're
actually
also
reviewing
the
recent
papers
that
have
been
issued
to
incorporate
that
into
our
next
iteration
of
the
papers,
myself
working
on
crypto
for
focusing
on
crypto
and
stable
coins.
H
Very
much
also
taking
the
the
exact
debates
that
you
had
raised
and
how
we
can
then
think
around
those
in
optimizing
for
consumer
protection,
competitive
markets
that
are
built
around
interoperable
standards
and,
of
course,
then
how
those
interplay
with
our
dispute
resolution
models
and
cbdc
is
one
big
part
of
that
as
well.
So
those
are
my
points.
Thank
you.
Over.
A
A
That's
the
reason
why
we
are
interested
anyway.
I
have
here
also
guy
and
several
others
who
are
involved
in
this,
this
sort
of
a
social
view
on
things
and
guys,
my
main
guy
when
it
comes
to
that
and
I've
been
reading.
You
know
his
his
work
and
I
I
just
wanted
him
to
make
a
couple
of
remarks,
because
we
are
quickly
running
out
of
time.
G
Yeah
sure
thanks.
I
appreciate
that
vipin
yeah,
I'm
trying
to
catch
I'm
just
sort
of
listening.
You
guys
have
done
a
lot
of
work,
all
come
with
subject
matter,
expertise
and
capital
markets
that
exceed
mine,
but
I
I
kind
of
look
at
these
things
holistically
and
I
tend
to
lean
towards
social
benefits.
G
You
know
human
benefits.
I
I
don't
know
why.
Somehow
I
just
ended
up
in
that
direction,
so
I'm
interested
in
the
green
bonds
thing,
but
I
just
want
to
when,
as
I
was
listening
to
the
ctbtc
discussion,
I
wondered
it
just
seems
like
overall,
not
just
here
but
overall
community
kind
of
there's,
just
so
many
papers
coming
out
some
for
some
against,
but
I
wondered
if
you
looked
at
a
couple
aspects-
and
maybe
this
is
a
question
to
ask
so
so
it's
it
depends
on
the
market.
G
G
And
I
also
I've
all
long
wondered
in
terms
of
the
us,
which
is
very
conservative,
and
I
I
just
question
the
fed
doesn't
feel
empowered
to
do
much,
except
maybe
explore
and
write
a
lot
of
papers.
I
think
they
look
to
the
congress
to
force
them
to
take
any
action,
but
it
seems
like
the
best
way
instead
of
beyond
papers
and
even
pocs
is,
is
to
run
pilots
that
actually
engages
people,
because
then
you
really
learn
a
lot.
G
G
A
A
A
So
in
that
sense
there
is
that,
but
thank
you
all
for
showing
up,
because
so
we
have
laid
out
a
plan
for
the
rest
of
the
year
and
obviously
we
will
continue
to
work
on
some
of
them,
some
of
them
actual
actual
outputs,
technical
stuff,
but
the
relationship
between
technology
and
regulation
and
policy
when
people
say
oh,
this
is
all
policy
stuff.
We
don't
have
anything
to
do
with
it.
I
tend
to
disagree
because
without
technical
capabilities
you
cannot
implement
policy.
You
want
to
control
the
size
of
the
wallet,
it's
technology.
A
You
want
to
control
what
is
possible
through
a
wallet
it's
technology,
so
technology
has
to
be
subservient
in
a
certain
sense
to
these
larger
societal
concerns,
but
without
technological
capability
you
cannot
create
a
policy
consideration
that
cannot
be
implemented.
I
mean
you,
you
can
come
up
with
whatever
you
want,
but
you
have
to
have
a
way
of
actually
putting
it
in
production
at
scale
without
hurting
anybody.
A
D
Thanks
weapon,
hey
wait,
wait
question
on
the
gaming
side,
we
just
start
to
experiment
more
with
this
code,
so
I
found
that
to
be
very
helpful
so
like
also
let's
in
my
offline
conversation
with
daniella,
she
was
also
saying
like
they
might
be
experimenting
with
this
code
too.
So
I'm
not
sure
is
a
lot
of
people
actually
really
using
rocket
chat
here.
B
It
depends
on
the
group
sandy,
it's
mostly
used
by
the
projects
more
than
the
sigs,
but
there
is
currently
a
chat
task
force
as
a
technical
steering
committee.
That's
evaluating
the
tools
and
one
of
which
is
being
considered
as
discord,
so
there
it
hasn't
like,
but
the
task
force
should
be
wrapping
up
soon.
So
so
when,
when
there
is
any
sort
of
decision
around
that,
we
will
notify
all
the
groups
for
sure
sure.