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From YouTube: Hyperledger and Red Date Technology: UDPN launched to support regulated digital currency payments
Description
Insightful webinar this morning with Universal Digital Payments Network and Julian Gordon.
Unveiled at #Davos during the World Economic Forum 2023, the Universal Digital Payments Network (UDPN) is a Distributed Ledger Technology (DLT) supported network that aims to enhance digital payments by enabling interoperability among regulated #stablecoins and Central Bank Digital Currencies (CBDCs). This initiative holds the potential to bring significant changes to the digital currency landscape.
During the launch event, representatives from Deutsche Bank, HSBC, Standard Chartered Bank, The Bank of East Asia, Limited (BEA), and Akbank shared valuable insights into the world of digital currency. They emphasized the importance of interoperability and highlighted the need for robust infrastructure to support these advancements.
The Universal Digital Payments Network (UDPN) has the potential to reduce the cost of digital payments and drive its adoption by banks and businesses of all sizes.
To learn more about the UDPN and its objectives, visit their website at www.udpn.io.
#opensource #blockchain #UDPN #CBDCs #digitalpayments #DLT #webinar
A
A
We
have
Thomas
from
our
team
who's
up
at
this
time
good
afternoon
to
everyone
joining
from
UK,
Europe,
Middle,
East
and
India
and
good
evening
to
everyone
joining
here
in
Asia,
Pacific,
I'm,
really
looking
forward
to
today's
talk,
which
is
a
deep
dive
with
hyperledger
member
red
date,
technology
and
gft
into
the
universal
digital
payments
Network
or
what
they
call
udpm.
As
you
can
see
on
the
screen
in
a
second
Tim
and
Stefan,
as
you
can
see
on
this
screen
will
present
on
the
udpn.
A
This
will
be
followed
by
a
q.
A
I've
already
arranged
some
questions,
but
please
submit
your
questions
via
the
Q
a
button
at
the
bottom
of
your
screen
and
we'll
try
to
get
to
that
to
as
many
of
those
as
possible.
Please
do
give
us
questions,
but
before
I
introduce
you
to
the
speakers,
I
do
have
a
couple
of
housekeeping
items.
Firstly,
hyperledger
is
a
Linux
Foundation
project
and,
as
such,
has
an
Anti-Trust
policy.
So
if
you'd
like
to
read
more
about
this,
please
go
onto
our
website.
That's
easily
available.
A
A
With
that
I'd
like
to
introduce
you
to
our
speakers,
I'm
delighted
to
say
we
have
Tim
Bailey
who's
based
here
in
Hong
Kong.
Like
me,
Tim
is
the
vice
president
of
global
sales
for
red
take
date
for
red
date,
technology
which
is
an
Innovative
decentralized,
Cloud
infrastructure
company,
headquartered
in
Hong
Kong
that
builds
Next,
Generation
public
I.T
system,
infrastructure
for
internet
Communications,
Digital
economies
and
metaverses
Tim
is
a
very
well-known
executive.
A
Probably
previously
he
started
his
career
at
Intel
and
has
now
over
20
years
of
international
executive
level,
experience
across
multiple
roles,
including
General
management,
Business,
Development,
product
development,
marketing
and
sales.
So
welcome
Tim
with
Tim.
We
are
delighted
to
have
Stefan
Shaka,
who
is
joining
us
from
Singapore
Stefan
is
the
udpn
lead
for
gft
gft
is
a
global
I.T
engineering
and
solutions
provider
and
as
a
Pioneer
and
digital
transformation,
gft
develops
Sustainable
Solutions
across
new
technologies,
it's
located
in
more
than
15
markets
and
has
an
amazing
team
of
over
10
000
people.
A
Stefan
himself
started
his
career
as
an
I.T
consultant
and
worked
his
way
up
to
Project,
Lead
and
project
manager
and
has
worked
in
various
domains,
focusing
on
Business
Development
transformation
projects
and
as
head
of
innovation
in
the
Consulting
Arena.
So
I'm
delighted
to
have
you
both
Tim
and
Stefan,
and
now
I'm
delighted
to
hand
over
to
you,
and
can
you
bring
us
the
udpn
story
and
I'm
going
to
I'm
going
to
control
the
slides
here
so
I'll?
Take
you
to
the
first
slide.
B
Great,
thank
you
thanks,
Julian
thanks
for
having
us
and
thanks
Stefan
from
our
our
partner
gft
for
for
joining
so
I
think
Julian.
You
can
probably
go
to
the
next
slide
here.
So
we
we
launched
the
udpn
at
the
world
economic
Forum
week
in
Davos
in
January.
We
were
joined
there
by
a
number
of
leading
Global
Finance
financial
institutions
to
talk
about
what
was
going
on
in
the
world
of
regulated
digital
currencies.
B
Why
interoperability
is
really
important
and
why
there
is
a
market
need
for
an
infrastructure
that
can
support
all
these
different
types
of
digital
currencies,
regulated
digital
currencies
like
CV,
Central,
Bank,
digital
currencies
and
and
regulated
stable
coins.
So
a
number
of
us
there
launched
and
announced
the
udpn,
and
we
had
a
number
of
leading
you
know
tier
one,
commercial,
Banks
and
obviously
hyperledger
Foundation
joining
us
for
that
event.
B
So
the
udpn
is
an
infrastructure
right.
It's
an
infrastructure
that
supports
Central,
Bank
digital
currencies
and
regulated
stable
coins.
So
a
lot
of
times
when
people
hear
digital
currency,
they
think
about
cryptocurrencies
like
Bitcoin
and
eth,
and
things
like
this.
This
is
not
a
cryptocurrency
network.
It's
a
network
for
government,
regulated
digital
currencies,
and
you
know,
as
we've
seen,
particularly
over
the
last
several
months.
B
There
are
dozens,
if
not
over
a
hundred
different
central
banks
and
governments
that
are
working
on
creating
digital
Bank,
Central,
Bank,
digital
currencies
and
one
of
the
missing
pieces
for
all
of
that
is
having
interoperability
Network.
That
enables
all
those
different
currencies
to
interact
and
also
enables
businesses
and
Commercial
Banks
and
other
Enterprises
to
be
able
to
access
those
digital
currencies
in
an
efficient
and
transparent
way,
and
that's
what
udpn
is
for
next
slide.
C
Yeah,
thank
you
very
much.
Tim.
Okay,
yeah.
Welcome
to
everyone
who
joined
this
very
interesting
webinar
today
and
I.
Think
since
you
are
interested
in
hyperledger
and
you
have
a
lot
of
things
to
do
in
the
area
of
digital
assets,
I
think
you
will
agree
with
me
that
money
will
be
digital,
but
what
does
it
mean
for
us?
How
is
it
actually
impacting
us
right?
C
So
obviously,
there's
a
lot
of
like
talks
about
speed
and
access
where
DLT
Solutions
will
basically
improve
areas
within
the
financial
institutions
sector
of
payments,
so
customers
demand
near
Atomic
settlement
messages
once
wanted
to
be
descended
across
directly
and
people
just
want
to
transfer
their
money
faster
than
they
are
doing
this
at
the
moment
now.
Another
point
is
very
important
when
you
look
at
cbdc's
when
the
way
government
and
Central
central
banks
are
structuring.
C
That
is
a
lot
about
financial
inclusion,
so
you
will
have
the
chance
and
possibility
to
create
digital
wallets
and
as
it's
for
people
who
are
unbanked
in
other
bank
at
the
moment,
another
very
important
factor
is
programmable
money.
So
when
you
look
from
the
perspective
of
a
central
bank,
it's
a
much
easier
way
to
enforce
policies,
but
also
to
make
money
more
secure,
also
to
put
use
cases
on
the
money
that
maybe
kids
under
18
years
are
not
allowed
to
buy
cigarettes
or
alcohol.
C
It's
a
very
beautiful
use
case
and
a
very
good
protection,
that's
all
possible
with
programmable
money
and
smart
contracts
and
obviously
there's
a
huge,
huge
interest
in
the
area
of
cost
reduction.
If
you
look
at
the
current
current
value
of
transaction
costs
alone,
which
are
nearly
120
billions,
that's
one
third
of
the
GDP
of
a
small
country,
but
a
very
important
company.
A
country
like
Singapore,
is
a
huge
benefit
in
reducing
this
costs
for
cross-border
payments.
Yeah
complexity
goes
up.
C
Yes,
payments,
the
payment
industry
itself,
point-to-point
solution,
different
rails,
different
technology,
different
way
of
sending
payments
across
it
all
gets
more
complex,
yeah
and
obviously
there's
a
certain
way
of
like
trust
and
security
that
people
who
wants
to
send
money
across
they.
They
demand
this
and
they
need
it
right.
So
if
you
bring
all
of
these
things
together,
it
ties
up
very
much
into
division.
C
What
udpn
is-
and
this
is
actually
solving
the
problem
of
interoperability
as
an
infrastructure
layer,
so
this
is
basically
on
how
it's
impacting
us,
but
what
is
happening
when
we
look
at
the
market
right?
Could
you
go
to
the
next
section?
Please?
When
you
look
at
the
market,
you
have
four
very
big
drivers
in
this
area.
We
believe
one
of
them
is
the
regular
push.
Regular
push
means
more
and
more
countries
pushing
for
cbdc's,
more
and
more
countries
doing
experiments,
they're,
doing
proof
of
Concepts
they're,
doing
research
they're.
C
Even
some
countries
they
have
launched
cbdc's
already,
so
there's
definitely
a
hard
push
from
The
Regulators
to
implement
it
from
a
banking
perspective
right
then
you
have
the
market
pull
for
infrastructure
right.
What
I
mentioned
is
basically,
when
you
look
at
a
cost,
the
possibility
of
costs
that
could
be
safe
for
DLT
Solutions,
which
really
would
drive
down
the
cost
of
sending
payments
as
across
are
very
very
tremendously.
C
Another
one
is
the
Gardner
Heights
tiger,
so
I
think
we
talked
quite
a
number
of
years
with
blockchain
Technologies.
It
will
disrupt
the
market,
so
I
believe
we
are.
We
are
really
there
now
so
for
us
as
gft,
which
is
a
global
system
integration
company.
We
have
a
huge
chunk
of
our
businesses,
basically
on
the
implementation
of
smart
contract,
Solutions
blockchain
services.
So
we
can
really
see
the
uptake
of
banks
on
financial
institutions.
C
We're
not
only
doing
this
to
try
out
something
or
doing
it
for
marketing
I
think
no,
they
really
implement
it
because
it
brings
clear
business
value
to
them
right
and
you
will
also
have
stable
coins.
So
stable
coins
are
not
cryptocurrency
is
really
asset,
backed
digital
currencies,
which
essentially
is
a
bridge
to
cbdc's
in
the
future
right,
not
many
cbcs
are
implemented
yet.
So
what
we
have
built
already
is
the
infrastructure.
Obviously,
stable
coins
will
be
the
bridge
for
that
and
will
come
in
a
much
closer
future
compared
to
cbdc's.
C
Okay,
could
you
go
to
the
next
slide
this
channel,
and
this
is
really
why
we
have
shaped
this
vision
of
udpiana
and
we
had
a
clear
Focus.
So
we
started
developing
this
infrastructure
two
years
ago
with
a
very,
very
clear
Focus.
So
again
we
will
run
only
government
approved
ncbdc's,
so
there
will
be
no
cryptocurrency
running
on
this
network
fact
is
obviously
there
will
be
huge
challenges
and
difficulties
with
adoption
from
a
regulator
perspective.
It's
also
when
you
look
from
a
business
perspective.
C
C
Obviously,
cross-border
payments
and
low
cost
and
convenient
manner
so
having
this
on
a
TLT
infrastructure
will
enable
the
benefits
for
it
then
also
UDP
n
is
not
meant
to
serve
directly
and
end
user,
so
we
are
not
an
app
that
everybody
can
open
an
app
and
that
you
can
just
transfer
money
from
A
to
B
that's
of
the
case.
So
financial
institutions
will
use
our
infrastructure
to
basically
provide
wallets
and
systems
to
the
end
users
yeah.
Why?
Because
kyc
AML
they're
the
ones
who
tells
us
to
do
it?
C
They
are
the
ones
who
actually
can
really
do
it.
That's
the
only
way
where
regulation
will
allow
that
and
what
is
very
important.
Udp
is
also
a
cool
carbon
blockchain
environment,
so
what
it
means
essentially
via
a
down
a
decentralized
organization.
So
we
have
a
certain
voting
mechanisms
which
we
will
explain
later
a
little
bit
more
into
detail.
But
we
are
not
this
one
organization
who
decides
on
governance
topic,
who
decides
which
cbdc
or
which
currency
is
onboarded.
It's
a
very
Democratic
process.
C
It's
a
voting
mechanism
and
the
functionality
of
smart
contracts,
which
makes
money
programmable
will
be
included
as
well.
So
all
of
these
points
be
mixed
together
and
we
designed
a
very,
very
good
two-tier
infrastructure.
So
Tim,
could
you
tell
us
a
little
bit
about
more
about
the
two-tier
infrastructure
that
we
have
designed
on
the
next
slide.
B
Thanks
Stefan,
so
this
is
a
high
level,
architectural
diagram
of
the
udpn.
So,
on
the
right
you
have
currency
systems.
Currency
systems
such
as
a
central
bank,
digital
currency
or
a
regulated,
stable
coin
would
operate.
Transaction
nodes
and
transaction
nodes
are
the
way
that
those
currency
systems
are
onboarded
to
the
udpn.
B
So
at
the
center
you
have
the
blockchain
layer
and
the
initial
instantiation
of
udpn
is
actually
built
using
hyperledger
basic
hyperledger
bayesu
is
a
permissioned
form
version
of
ethereum,
and
so
for
security
reasons.
You
know
this
needs
to
be
a
permissioned
use,
permissioned
blockchain
protocols.
It
doesn't
use
public
chains
as
part
of
the
blockchain
layer
on
on
in
within
the
blockchain
layer,
you
have
a
smart
contract
based
application
layer.
B
B
The
list
is
really
endless
and
we
believe
that
one
of
the
important
aspects
of
udpn
is
that
it
enables
third
parties
to
innovate
and
build
businesses
and
be
creative
on
the
udpn
in
the
middle.
You
have
validator
nodes
which
will
be
operated
by
each
of
the
the
founding
members
and
participating
members
of
the
udpn,
so
Stefan
earlier
referred
to
a
co-governance
of
the
network.
Initially
there
will
be
eight
initial
members
of
the
udpn,
a
combination
of
global
commercial
Banks
and
technology
companies,
eventually
expanding
to
24..
B
B
So
we
have
a
very
robust
process
between
our
partner,
gft
and
red
date,
where
we
have
participants
right
now
we
have
over
20
participants
from
you
know,
leading
tier
one,
commercial,
Banks,
central
banks,
Global
policy
organizations,
a
large
Consulting
and
accounting
firms,
all
of
whom
we
have
invited
to
join
these
pocs
as
a
way
to
both
learn
about
how
all
of
this
will
work
in
a
real
infrastructure.
Keep
in
mind.
This
is
not
a
white
paper
or
a
demo.
B
This
is
a
real
working
infrastructure
that
people
people
can
actually
go
into
operate,
business,
nodes,
work
through
testing
guides
and
actually
do
transactions
at
the
end
of
each
POC.
We
will,
together
with
the
POC
participants,
publish
white
papers
or
publish
reports
that
will
list
out
exactly
okay.
What
was
done
in
the
POC?
What
were
the
issues
encountered?
How
did
we
mitigate
those
issues?
What
were
the
regulatory
questions
that
came
up?
B
So
one
of
the
calls
to
action
from
this
webinar
is
to
encourage
organizations
to
join
us
and
participate
in
these
pocs.
The
call
to
action
goes
out
to
you
know:
Banks
currency,
related
policy
makers
in
governments,
central
banks,
technology
companies
who
are
interested
and
think
they
may
have
something
to
contribute.
B
B
We
encourage
you
to
contact
us,
and
you
know
members
of
our
team,
we'll
get
back
to
you
and
and
discuss.
You
know
how
we
can
get
you
involved,
we're
also
available
to
do
demonstrations
of
the
technology.
We
have
it
working.
It's
been
live
in
a
sandbox
environment
for
nearly
a
year
now-
and
you
know,
the
organizations
that
have
already
joined
us
and
are
participating
are
really
advancing
their
knowledge
about
what's
happening
in
the
space
and
starting
to
adjust
their
thinking
and
how
we
look
at
this
from
a
regulatory
perspective.
A
I'm
hiding
behind
my
meat
bun
there
you
are
excellent
I.
Think
we've
got
some
questions
coming
in,
so
please,
you
know
bring
in
the
Q
a
I
think
we've
got
a
lot
to
unravel
there
right.
Thank
you
very
much,
Stefan
and
Tim
for
that
overview,
I'm,
going
to
look
at
a
certain
number
of
areas
like
that
talk
about
the
pocs
I
think
we're
going
to
talk
about
a
little
bit
more
about
questions
about
the
Dow
right.
What
does
that
mean?
A
How
do
we
vote
and
maybe
a
little
about
the
technology?
Why
Bay,
Zoo
and
other
things
like
that,
so
those
in
in
the
in
the
those
in
the
audience
please
up
give
me
some
Q
questions
as
well,
so
I
think
we'll
start
with
with
the
pocs,
which
seems
to
be
your
methodology
that
you've
taken
to
take
this.
Maybe
you
could
maybe
Tim
or
Stefan,
explain
why
you
you
chose
to
to
use
pocs,
and
maybe
these
particular
pocs.
B
You
know
great
input
and
engagement
from
commercial
Banks
from
central
banks
from
Big
policy
making
organizations,
and
you
know
it's
very
different-
to
actually
go
through
how
this
will
actually
work
in
a
real
infrastructure
in
a
real
environment
versus
you
know,
reading
a
white
paper
which
is
you
know
to
tend
to
be
very
theoretical.
So
that's
that's
the
core
reason
why
we
took
the
approach
to
execute
on
these
pocs.
C
If
we
would
start
to
build
all
of
these
pocs,
we
would
maybe
have
a
solution
later
on,
but
we
will
not
have
the
input
of
all
the
questions
that
need
to
be
answered
and
we
would
not
even
know
some
of
the
questions.
So.
Therefore,
it's
really
really
important
that,
like
really
a
bunch
of
different
organizations,
sit
together
and
work
towards
these
pieces,
and
that's
really
really
a
big
big
plus
point-
and
this
is
the
learnings
that
we
generate
to
this
on.
All
different
sides
are
phenomenal.
C
There's
like
even
like
comments
that
I,
that's
that
we
got
or
received
from
from
it
heads
they
were
saying:
hey
this
pocs
is
way
better
than
any
training.
I
can
bring
my
people
through
to
learn
about
digital
assets
or
cbdc's
working
through
this
proof
of
Concepts
really
makes
them
think,
but
also
makes
them
understand
what
does
it
mean
for
them
in
a
daily
way
of
of
business,
and
how
do
they
need
to
adapt
and
change
with
this
Innovation
forthcoming?
One.
A
Okay,
that's
excellent,
and,
and
and
and
what
kind
of
Institutions
I
think
we've
taught
before
there's
some
tier
one
Banks.
Now
what
kind
of
Institutions
are
involved
in
in
these
pocs
I
know
you
can't
mention
names,
but
what
kind
of
organizations
and
what
kind
of
organizations
are
you
looking
for
to
continue
getting
involved
in
these
pocs
yeah?
So.
B
So
go
ahead,
so
we
have,
you
know
major
tier
one:
commercial
Banks.
We
have
Consulting
companies,
you
know
some
of
the
big
big
names
in
the
Consulting
world.
We
have
technology
companies,
we
have
payment
companies,
you
know
we
even
have
insurance
companies
because
udpn
is
you
know.
Udpin
is
really
learning
an
education
for
for
any
business
because
any
business
is
involved
in
commercial
transactions.
So
the
the
types
of
companies
that
are
participating
already
is
is
very
diverse.
Right.
It's
not
just
limited
to
Banks
yeah
I'm.
C
C
E-Commerce
companies,
for
example,
they
are
very
interested
as
well,
and
why,
because
e-commerce
companies
they
have
very
a
huge
set
of
users
and
customers
on
that
platform,
so
for
them
they
would
like
to
figure
out
a
way.
How
could
we
collaborate
with
banks,
which
already
doing
kyc,
which
already
doing
aml's,
which
already
having
a
way
of
like
maybe
matching
like
a
digital
wallet
with
a
Fiat
wallet
and
stuff?
C
That
is,
how
can
they
collaborate
same
is
with
Telco
companies,
so
really
airline
companies
I
got
approached
from
Airlines
directly,
say:
hey
this
network
that
you
are
doing
is
great.
So
how
could
we
be
part
of
it?
How
could
we
integrate
it?
So
it's
really
businesses
all
over
the
world
from
different
kind
of
Industries
are
realizing
the
potential
and
really
the
The
Innovation
shift
that
goes
through
the
payments
market
in
terms
of
like
cross-border
payments,
with
an
infrastructure
like
this
being
available.
C
Suddenly
the
use
cases
that
emerged,
and
once
these
institutions
understand
the
full
potential
of
udb,
and
they
will
come
up
with
a
few
more-
that
these
14
use
cases
that
you
have
seen
so
we
envision
actually
until
end
of
the
year.
You
have
something
around
20
use
cases
that
we're
actively
working
on,
but
there
will
be
many
many
more
popping
up
with
companies
and
financial
institutions
realizing
the
power
of
udpn.
A
So,
actually,
we've
got
lots
of
comments.
You
said
insurance
and
like
is
it
Mike
wise?
That
said,
you
know
these
are
the
true
laggardes
and
adoption.
So
it's
amazing
you've
got
insurance
companies
and,
and
such
a
diversity
of
of
of
of
companies
involved
right.
That's
as
in
the
treasury,
a
Treasurer's
Department
is
it
or
where
would
a
an
organization
or
is
it
the
CIO
or
what?
What
part
of
the
organization.
B
Today,
what
you
find
in
in
cross-border
payments
is,
you
have
you
know
multiple
intermediaries
who
take?
You
know,
pieces
of
of
the
transaction
as
it
travels
across
the
world
and
a
big
part
of
the
value
proposition
of
udpn?
Is
you
know
how
do
the
sender
and
receiver
settle
that
transaction
in
a
more
efficient
way,
rather
than
going
through?
A
lot
of
you
know,
intermediaries
that
takes
time
and
and
reduces
transparency
in
the
transaction.
A
C
There's
this,
and
obviously
it
comes
from
the
non-financial
players
within
the
NGO
space
right,
and
so
the
interest
from
them
is
very
often
during
from
The
Innovation
side
right.
If
you
look
at
the
topic
of
cbdc,
that
is
coming
along,
obviously
a
lot
of
them
looking
in
from
the
anger,
how
could
it
be
beneficial
for
people
from
the
underbanked
or
they
are
not
banked
at
all
area,
for
example
right?
So
how
could
there
be
synergies?
How
could
there
be
cost
savings?
How
could
we
drive
Financial
inclusion?
C
More
so
there's
there's
usually
this
organizations.
They
have
quite
a
number
of
smart
people
within
their
Innovation
organizations,
and
they're
really
scaling
their
models
and
we
get
especially
in
conferences.
We
get
a
higher
interest
from
there.
We
have
been
approached
from
them
and
they
are
interested
as
well
in
working
with
us
together,
they're
very
often
not
a
direct
developer
of
the
network,
but
acting
more
in
the
capacity
of
an
observer
willing
to
learn,
sharing
their
feedback
getting
also
their
experience
inside
and
the
collaboration
with
them
is
good.
Yes,.
A
Okay,
excellent
excellent.
So
now,
let's
let's
go,
you
know
the
pocs
they're
Global
a
lot
of
really
interesting.
It
sounds
like
a
diverse,
interesting
kind
of
psc's
happening
right
and
actually
actually
it's
a
quick
point.
When
should
we
first
be
able
to
see
some
of
the
the
the
the
results
from
those
you
said,
I
think
towards
the
end
of
the
year
was
you
were
saying
or
no.
B
A
Okay,
excellent,
so
now,
let's
look
to
I.
Think
the
other.
Another
interesting
aspect
is
this
concept
of
the
Dow
right.
Maybe
we
could
talk
a
little
bit
about
why
you
chose
a
Dao
and
then
maybe
I.
Think
specifically,
the
interest
seems
to
be
around
the
voting
on
there.
So
I
don't
know
which
one
of
you
wants
to
take
that
up.
C
Yeah
I
can
take
it
so
yeah
establishing
that
the
outcomes
comes
for
many
reasons.
Yeah
one
of
them
is
obviously
a
democratic
boarding
process
right.
So
if
you
see
what's
going
on
in
the
Market
at
the
moment,
so
there's
payment
solution
providers,
there's
organizations
who
have
almost
a
kind
of
like
Monopoly
in
terms
of
like
governance
perspective
on
it
right.
So
you
take
a
huge
messaging
Network
that
is
going
on
on
the
globe
about
like
disconnecting
entire
countries
or
currencies
with
a
snap
of
a
finger.
C
They
can
do
that
because
they
have
the
power
if
some
of
the
decisions
are
right
from
a
little
standpoint.
We
are
not
here
to
argue
that,
sadly,
but
from
a
governance
perspective
about
like
a
democratic
voting
process,
that
shouldn't
be
the
case
and
in
this
world
there's
there's
more
than
a
couple
of
very
powerful
countries
that
want
to
transact
globally
and
many
of
them
they
have.
C
They
have
obviously
voting
rights.
They
have.
They
have
a
perspective
on
how
also
technology
evolves
right.
So
that
was
one
of
the
major
reasons
why
we
basically
have
decided
to
to
keep
this
as
an
organization
as
a
down
decentralized
organization.
So
we
will
start
this
with
with
eight
Alliance
member
that
we
call
it
as
a
first
and
that
will
be
a
mix
of
technology
companies,
financial
institutions,
and
it
will
be
also
a
mixed
on
geographical
diversions
right.
C
We
are
not
interested
in
having
like
a
huge
power
from
Europe
or
a
huge
power
from
Asia
or
a
huge
power
from
America
to
decide
on
governance
topics
right.
We
really
would
like
to
have
decentralized
sporting
mechanism,
something
that
is
right
for
a
Global
Perspective
to
run
on
these
networks.
Right
in
the
second
step,
we
will
go
up
to
16
alliance
members
and
the
16
alliance
members
will
come
up
to
24
in
the
final
area
and
the
reason
why
we'll
stop
the
24?
C
It's
basically
also
from
a
perspective
of
note
operations,
and
it
doesn't
mean
that
one
organization
switch
is
Alliance.
Member
needs
to
be
an
alliance
vendor
throughout
the
end
of
the
the
days
from
UDP,
and
so
to
say,
so
it
really
could
be
like
a
possibility
that
organizations
choose
to
be
an
alliance
member
only
for
a
certain
time
and
then
opt
in
and
up
out,
and
we
also
have
chosen
the
steps
of
8,
16
and
24..
The
reason
for
this
is
of
super
majority.
C
A
B
A
B
There's
an
interesting
one
on
kyc,
we'll
answer
that.
So
the
question
is:
how
will
your
DPN
address
identity
for
kyc
and
conditional
transfer
rules?
Etc
so
kyc
is
a
is
a
really
important
part
of
of
udpn
and
there's
actually
a
whole
POC
around
kyc
that
we
actually
kicked
off
several
weeks
ago
and
we're
demonstrating
how
using
Technologies,
like
decentralized,
IDs
and
smart
contracts
can
enable
kyc
between
two
institutions
right
and
how
they
verify
kyc
in
a
secure
manner
for
that
transactions.
B
There
was
a
the
related
question
around
conditional
transfers
when
going
back
to
what
I
was
talking
about
with
the
application
layer.
You
have
the
ability
for
and
I'll
give
the
insurance
example
that
I
mentioned
earlier,
where
you
know
an
insurance
company
could
have
you
know
a
smart
contract
based
premium
payout.
That
says,
if
a
certain
set
of
conditions
are
met,
then
there's
a
transfer
of
funds
to
a
recipient
based
on
a
particular
contract.
B
So
there's
actually
a
lot
of
flexibility
and
room
for
organizations
to
innovate
and
build
value-added
services
within
udpin.
We
think
it's
that's
a
really
important
part
of
udpn
is
that
you
know,
even
though
gft
and
red
date
are
the
initial
co-builders.
We
think
it's
very
important
to
have
a
contribution
from
other
organizations
globally
and
particularly
from
coming
from
diverse
Industries.
A
C
The
use
case
that
we
have
in
the
aviation
sector
is
basically
also
around
cross-border
payments,
so
Airlines
buy
a
lot
of
services
which
are
not
originating
from
their
country,
but
very
often
in
a
country
where
they,
where
they
surf
or
where
they
land
so
for
them.
There's
a
lot
of
like
cross-border
payments
and
settlements
needs
to
be
done
and
there's
a
lot
of
different
different
banks
required
to
be
part
of
that.
C
There's
also
an
area
where
they
have
provide
payments,
basically
within
local
currency,
to
their
flight
crew,
which
is
very
often
happened
just
with
like
cash
given
in
a
hotel.
So
that's
also
a
use
case,
that
is,
that
is
looked
on
in
different
areas,
but
it's
mostly
on
cross-border
payments
and
settlement
in
the
aviation
industry.
A
A
I
don't
know
I
I
I'm
there
I'm
getting
lots
of
questions
good
good.
No,
we
are
there's
a
lot
of
interest
here
right,
so
you
mentioned
asset
tokenization
in
in
your
use
case
in
the
presentation.
Is
it
even
meant
to
support
any
digital
assets
rather
than
just
kind
of
cbdc's
or
stable
coins
at
this
moment?
Or
is
it
really
just
around
those
two
assets.
B
So
so
so
there
are
that's
why
we,
we
have
a
asset
tokenization
POC,
because
there
are,
you
know
interesting
use
cases
around
the
tokenization,
the
tokenization
of
regulated
assets
and-
and
we
think
you
know,
if
you
think,
down
several
years
down
the
road,
how
how
can,
for
example,
stock
exchanges,
tokenize,
you
know,
shares
of
companies
and
make
you
know,
settlement
and
listing
of
those
things
much
faster
and
more
transparent.
So
that's
why
we
think
exploring
the
digital
asset
space
is
important
for
udpa.
C
How
does
the
participant
Bridge
their
own
cbdcs
on
stable
coins
onto
the
European
and
in
their
transaction
validator
and
ferromise
the
responsibility
of
the
participant
and
this
cross
chain
ddb?
Or
is
it
just
as
a
transverse
reported?
So
we
do
have
onboarded
at
the
moment
a
couple
of
digital
currencies
already
so
today
we
are
supporting
usdc,
Euro
C,
for
example,
and
we're
also
doing
this
not
only
on
ethereal
ethics,
for
example.
We're
also
doing
this
on
algorand
on
Solana
on
polygon.
C
As
you
know,
UCC
is
running
on
different
kind
of
blockchains,
so
udpn
is
really
in
infrastructure
which
tackles
the
problem
of
interoperability.
So
if
you
remember
the
slide
that
we
had
the
team
Illustrated
about
the
transaction
notes
which
are
basically
different
currency
systems,
this
is
where
the
whole
intelligence
and
onboarding
different
currencies
basically
realize
so
we're
in
European.
We
have
the
possibility
to
onboard
obviously
blockchain
supported
digital
currencies,
but
also
non-blockchain
supported
currency
so
off
chain.
Basically,
there's
there's
a
German
company
which
is
like
leading
in
the
market,
which
is
a
cbdc
simulator.
C
We
are
working
very
closely
together.
They
provide
such
mechanism,
for
example,
we
onboard
them
as
well
and
to
more
towards
the
question
of
DVP,
and
how
is
the
settlement
between
different
points
done?
You
have
to
Envision
this
a
little
bit
like
different
currency
pulse
that
you're
putting
up
so,
let's
say
if
two
Banks
would
like
to
exchange
value
and
let's
say
they
would
do
a
swap
so,
let's
say
ustc
to
Euro
C.
It's
definitely
different
currencies
right,
so
vs
UDP
and
we
are
not
a
market
maker
in
the
FX
chances
right.
C
The
concept
of
currency
puts
so
Bank
a
has
different
currency,
ports
of
usdc
and
Euro
C,
for
example,
and
Bank
B
has
the
same
one
of
the
users
from
Bank
a
wants
to
exchange
a
value
with
bank
B,
so
the
transaction
message
is
sent
and
the
transaction
is
complete
and
maybe
the
actual
settlement
between
the
two
current
supports
and
the
two
bank
is
done
via
a
settlement
solution.
But
this
settlement
does
not
have
to
be
done
after
each
single
transactions.
C
Banks
and
financial
institutions
could,
for
example,
wait
until
the
end
of
the
day,
the
end
of
the
week
or
if
they
really
trust
each
other,
maybe
on
a
monthly
basis
to
just
settle
the
delta
in
between.
So
there's
a
huge
interest
opportunity
also
to
save
costs
in
the
settlement
area,
because
you
don't
need
to
settle
every
single
transaction
anymore,
you
can
build
them
up
because
it's
an
infrastructure,
messaging,
lab
I
hope
you
just
answered
the
question.
B
B
When
you
see
widespread
cbdc
adoption,
but
I
don't
think
by
any
means.
It
does
not
eliminate
the
importance
and
the
need
for
commercial
Banks.
I.
Just
think
that
the
some
of
the
business
models
and
the
services
will
change.
There
will
be
some
of
you
know,
maybe
Legacy
business
models
that
will
go
away,
but
I
think
it
will
present
more.
You
know
as
many,
if
not
more,
you
know
new
business
models
and
services.
You
know,
for
example,
digital
wallets
right.
B
You
know:
there's
a
need
for
individuals
to
have
a
digital
wallet
and
how
can
Banks
offer
digital
wallet,
Services
multi-currency
digital
wallets
that
that
actually,
that
digital
wallet
topic
is
a
is
a
common
theme
or
thread
or
building
block
in
a
lot
of
our
pocs
and
I.
I
can
tell
you
that
you
know
the
the
banks
and
and
the
other
financial
institutions
that
we're
working
with
are
are
very,
very
interested
in,
in
that
topic
of
you
know,
multi-currency,
wallets
and
and
how
that
works.
C
I
think
the
point
that
you
have
brought
out
with
new
business
model
for
financial
institutions.
That's
really
the
key
aspect
right.
If
you
look
with
feared
money,
what
is
happening
today
in
the
bank's
business?
If
you
break
that
down,
you
have
a
credit
card,
you
need
to
pay
for
it.
You
have
a
loan,
you
need
to
pay
for
it.
You
have
a
financial
instrument.
You
need
to
pay
for
it.
You
have
cross-border
settlements,
someone
needs
to
pay
for
it,
so
it
is
in
each
kind
of
value
creation
within
financial
institutions
on
the
bottom
layer.
C
C
It
will
be
so
disruptive
from
what
Fiat
money
currently
is
because
digital
assets
itself,
it
does
not
behave
like
Fiat
money
if
it's
on
chain,
for
example,
you
know
almost
every
given
time,
where's
where's
the
assistant,
exactly
if
you
look
in
the
field
well,
this
is
not
possible.
Today,
a
bank
can
keep
your
money
for
two
to
three
days
for
cross-border
settlement,
and
you
have
no
idea
where
your
money
is.
You
have
no
idea
how
much
money
the
bank
makes
out
of
this.
C
This
may
be
gone
with
it,
but
there
will
be
others,
and
so
many
new
business
models
coming
out
of
fast
transactions
from
here,
for
that
that
the
financial
industry
will
benefit
hugely
for
it,
but
it
needs
to
understand
what
is
coming.
What
is
it
coming
with
a
wave
of
cbdc's?
What
is
coming
with
a
wave
of
digital
assets
and
is
really
the
main
problem
in
this
environment,
which
we
believe
is
the
interoperability
between
different
currency
systems?
Is
this
taking
care
of,
and
this
is
understood.
B
A
B
The
the
central
banks
and
government
organizations
and
Regulators
that
we've
engaged
with
have
been
extremely
interested
because
it's
a
real
infrastructure
again
when
you
look
at
a
lot
of
kind
of
other
announcements
and
things
that
have
gone
on
in
the
space.
It's
it's
it's
very
theoretical,
which
is
which
is
fine
in
itself.
B
A
Thank
you
and
that
question
came
from
LinkedIn,
so
thank
you
for
all
those
on
LinkedIn
as
well
and
streaming
there,
but
also
I
kind
of
comes
a
question.
That's
talking
about
is
udm
building
a
new
system
from
scratch
or
using
the
best
of
what's
already
done
with
High
collection
ecosystem,
which
I
think
leads
on
to.
We,
we've
talked
a
little
about
before
about
open
source
technology
and
how
is
that
is
helping
you
and
and
how?
How
that
involved
in
the
order.
B
You
know
it's
initially
co-built
by
by
gft
and
red
date,
but
it's
very
important
because
it's
you
know
related
to
the
financial
system,
because
it's
Global,
it's
essential
that
we
make.
You
know
the
software,
the
business
nodes,
the
key
elements
of
the
udpn
open
source.
So
we
plan
to
do
that.
You
know
anyone
can
go
in
as
we
release
it.
Go
and
Do
code
audits
check
it
out,
find
bugs
provide
input.
A
Okay,
we're
coming
in
nearly
to
the
last
seven
minutes,
so
I
think
what
I'd
like
to
do
is
maybe
a
little
bit
more
Visionary.
So
I
ask
each
of
you:
where
do
you
think
we
will
be?
What
what
how
do
you
visit
like
two
or
five
years
time?
What
udpm
will
look
like,
of
course,
these
pocs
and
everything
will
will
make
that
happen
right
then
and
Taylor
how
to
do
things.
But
how
do
you
visit?
What's
your
kind
of
vision.
B
B
B
You
know
start
to
go
to
production.
You
know
two
years
may
even
be
a
little
bit
a
little
bit
early,
but
I
think
it
will
take
time.
I
think
the
activity
on
the
udpn
will
be
dramatically
higher
because
everyone
is
going
to
be
testing
all
of
these
things.
You
know
we
we
have,
you
know
25
or
so
maybe
30
organizations
involved
in
the
pocs
right
now
in
two
years
time.
You
know
it'll
it'll,
be
in
the
hundreds
in
terms
of
people
testing
this
and
understand,
and
not
just
Banks
Enterprises.
B
You
know
other
types
of
Technologies
in
five
years:
I
think
you
know
you're
starting
to
get
to
the
early
stage
of
Mass
adoption
of
regulated
digital
payments
and
I.
Think
it
will.
You
know
in
five
years,
there'll
be
some
big
fundamental
changes
in
how
payments
are
made,
how
they're
more
efficient,
how
they're
more
inclusive,
how
kyc
and
AML
all
of
those
important
things
can
be
much
faster
and
more
efficient,
and
you
know
our
goal
is:
is
that
that
udpn
is?
Is
a
core
part
of
that
Stefan?
A
C
Yeah
I
personally
think
there's
obviously
a
lot
of
like
external
factors,
and
then
sometimes
you
have
a
little
bit
of
chicken
and
egg
problem
right.
So
you
have
an
infrastructure,
you
don't
have
an
infrastructure,
then
why
do
you
need
an
asset,
but
you
don't
have
an
assets?
Why
do
you
need
to
build
an
infrastructure?
And
this
is
the
same
thing
with
stable
coins
were
coming
on
board
financial
institutions
that
we
have
been
talking
to
I
say.
Yes,
we
would
like
to
launch
our
state
coin,
but
give
us
a
business
reason
for
it
right.
C
So
it's
like
now
with
really
this
cross-border
payments
coming
along
coming
ahead.
People
want
to
do
settlement
faster,
so
I
believe
really
within
two
years
time.
We
have
a
lot
of
financial
institutions
have
started
their
own
stable
coin.
I
think
this
will
come
much
earlier
than
cbdc's.
Actually
so
cbdc's
will
take
some
time
sometime
also
in
the
adoption
of
of
people
living
within
the
country
and
really
adopting
it.
C
I
believe
stable
coins,
which
are
issued
from
banks,
will
come
with
a
lot
of
more
freedom
for
people
to
transact,
so
the
absorption
rate
will
be
higher
and
faster
on
that,
but
it's
really
it
will
come
what
we're
trying
to
achieve
with
udpn
right.
You
need
this
network
effect,
Network
effect
with
as
many
as
different
possible
participants
using
your
network,
because
only
then
exchange
and
cross-border
payments
make
sense.
What
we
see
as
well
is
a
lot
of
these
pocs
that
we
do
in
different
areas
of
tokenization.
They
will
become
fruitful.
C
A
Okay,
we're
now
going
to
I
think
we're
going
to
wrap
we're
in
the
last
minute
or
two
right,
but
what
I
think
I'd
like
to?
Maybe
if
we
could
I'm
sharing
the
slide
again
right,
so
it
and
we
have
it
I-
haven't
been
able
to
get
all
the
questions.
Thank
you.
The
audience
for
enormous
numbers,
a
question,
a
real
interest
today
right,
but
how
do
people
continue
from
both
of
you?
How
do
people
get
involved?
How
do
they
continue?
This
conversation
find
out
more
what
what?
What?
What
is
your
suggestion.
B
I
I
would
say:
go
back
to
the
previous
slide.
Join
contact
us
reach
out
contact
us
at
contact
at
udpn.io.
After
our
events
in
Davos
I
think
we
received
you
know.
Seven,
eight
hundred
contacts
downloads
of
the
white
paper
requests
for
demos,
and
you
know
we
responded
to
to
every
single
one
of
those
contacts
so
contact
us.
Let
us
know
what
your
interest
is.
Let
us
know
you
know
what
company
you're
from
what
you
know
how
you'd
like
to
be
involved.
B
C
A
So
with
that
I'd
like
to
say
thank
you
to
to
Stefan
and
Tim
for
their
expertise,
thank
you,
the
audience
out
there
for
listening
and
for
you
in
the
future,
watching
this
on
YouTube
and
others.
Yeah
get
involved,
we'll
have
more
information
down
below
in,
in
all
the
information
associated
with
this
and
yeah.
Thank
you.
Thank
you.
That
was
great
really
what
great
expertise.
Thank
you
for
sharing
today.
Thank
you.
Thanks.