APAC’s Decentralized Financial Systems: How to stop the Cyber Perpetrators
Moderator: Geetha Nandikotkur, Managing Editor & Conference Chair, Asia and Middle East, ISMG
Ari Redbord, Head of Legal and Government Affairs at TRM Labs
Parthasarathy Pillairkulam, GCISO, Leading Bank in Middle East and North Africa Region
Event time: 4.30 pm IST/ 7.00 pm SGT / 10.00 pm AEST
With decentralized finance challenging the centralized financial system by empowering individuals with peer-to-peer digital exchanges, it becomes the catalyst for financial institutions to transition from legacy systems to blockchain-based systems. For example, with regard to cross-border payments, we are seeing blockchain starting to disrupt traditional financial systems.
However, the key challenge for regulators and the crypto space is: how do we stop predators from taking advantage of decentralized protocols but at the same time not affecting legitimate transactions?
We have witnessed large organizations in the Asia Pacific establishing tokenized CBDC-Central Bank Digital Currency and linking up their domestic payments network to the respective banks to enable a cross-border payment transaction using CBDC currency to reduce friction and offer better security and stability.
The panel will discuss the following:
Impact of Defi on the APAC’s banking system
Security risks and ways predators crack into the decentralized finance system
Use of blockchain in establishing secure transactions
Tokenization of CBDC in establishing friction-less secure payments transaction