The working group “Distributed Dependable Systems” invites everyone of the institute to the expert talk "Towards a trusted network in the virtual asset & cryptocurrencies market" by Vedran Jankovic (Deutsche Bank):

Since the emergence of the Bitcoin cryptocurrency system over a decade ago there has been a growing interest in the use of blockchain technology as the basis for the exchange various types of virtual assets beyond the original Bitcoin cryptocurrency. In 2018 the Financial Action Task Force (FATF) provided a definition of virtual assets and their service providers, placing cryptocurrency exchanges under the category of virtual asset service providers (VASP). One implication, among others, is that the existing FATF regulatory framework applies to these exchanges, and that exchanges must obtain and hold originator and beneficiary information in the case of virtual asset transfers.

The goal of the session is firstly to provide an categorization and overview of existing VASP business models in the market. Secondly, the sessions leads to a discussion of the notion of a trust network of VASPs as a way for the community of VASPs to exchange out-of-band relevant information regarding their customers and related keys in order to create trusted and interconnected relationships between VASPs, banks, infrastructure intermediaries as well as the real economy.

Weitere Informationen: Katinka Wolter, Justus Purat