On 12th July our community came together for the launch of FTT DeFi, the one-day show where we explored key opportunities and challenges in decentralised finance, digital assets and Web3.
During the day, Eddie Robb, Commercial Director at Zumo Enterprise sat down with Jay Bothra, Lead Development Specialist at HSBC. The two discuss the bank’s blockchain projects, digital issuance of assets on-chain, exciting use cases for NFTs, combining DLT and quantum computing, and much more.
Jay highlights the combination of DLT and Quantum as a key area of interest for him and a space he sees lots of potential in. He also outlines the reality of using blockchain and that although it can improve efficiency in many use cases, it’s important to remember that there are plenty of use cases where it may not be the most effective technology.
Another area of interest is in NFTs, outside of the creator economy. Jay cites identity management, governance and documentation as interesting and transformative use cases for NFTs. For example, the potential to issue driving licenses as NFTs or performing distributed KYC could have a huge impact.
Jay credits fintechs for their distribution of digital assets, but sees the next wave of innovation coming in “the manufacturing of these products” and believes that DeFi will play an important role in bringing new kinds of financial innovation and products in the next few years.
Listen to the full interview below where Jay presents his perspective on the maturity of DeFi and the opportunity that future regulation will bring.
To learn more about the transition from TradFi to DeFi, mainstreaming cryptoassets, and the building blocks of DeFi, register to join us at the Fintech Talents Festival on 14-15 November at The Brewery, London.