Safeguarding Digital Assets
Financial institutions are starting to take cryptocurrency seriously. Lacero CEO Rashid Hoosenally writes:
Cryptocurrency is moving from the discovery phase to the production phase. We are seeing interest, commitment and adoption by the institutional world. They have seen the Genie coming out of the bottle, and they now know it isn’t going back.
With Lacero he aims to help build the infrastructure solutions central to the decentralized architectures of the future.
During Bitcoin Wednesday on 4 September, 2019, Rashid will give a demonstration of his cryptocurrency custody solution. His presentation will also cover the landscape for institutional entry into the sector, including the special infrastructure large organizations require and the nature of operational risk vectors and how to manage them. For example, how can they build secure and efficient ecosystems without creating the single points of failure that arise with centralization? What are the weaknesses in existing solutions? What are the best approaches to protecting against external risks like hackers and thieves as well as internal ones like fraud and collusion? Why aren’t financial institutions better aligned with the core principles of decentralization, including programmable custody which utilizes smart contracts?
Rashid has answers to these questions. He served as Managing Director for Global Markets and Corporate and Investment Banking at Deutsche Bank for more than 20 years. There he worked in the fields of foreign exchange, international payments, asset management and derivatives, and was previously Vice President of Financial Products for Credit Suisse in London.
He has always been interested in economics and money. He specialized in monetary theory at Cambridge University and earned an MA degree in Economics in 1992. He has also been an investor and advisor to many technology startups in the last decade, and believes that distributed ledger-based assets will become central to the global monetary and financial system.