2020 Digital Money Forum
January 7, 2020, Las Vegas, USA
2020 Digital Money Forum
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About speakers

Mark Mueller-Eberstein
Founder & CEO at Adgetec Corporation
Combiz Richard Abdolrahimi
Government & Public Services at Deloitte
Chris Garrod
Director, Insurance and Technology at Conyers
Shidan Gouran
CEO & President at Metaverse Capital Corp.
Tom Maxon
Co-Founder & CEO at Claimyr
Karl J. Weaver
Global Business Development Director at aitos.io

CEO of Adgetec Corporation, Managing Member of Codex 3 Investments, Angel Investor & Faculty at Rutgers University's Center for Management DevelopmentPassionate for decades about IT and business trends; global keynote speaker & Bestselling Author (3 Books; 12 Languages).Global business and thought leader with over 25 years experience in the IT industry and a strong track record in Product Management, Business Development and Marketing Strategies. Proven results leading and coaching high performance teams and individuals to project completion on time and under budget. Experienced partnering with Senior Executives to plan and execute against strategic imperatives. Expertise managing Intellectual Property, turn-around situations, cross-cultural environments and functional disciplines. Globally active. German & English fluently.

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Combiz Richard Abdolrahimi is a U.S. National Security Lawyer, Global Emerging Technology & Innovation Leader at Deloitte, a former financial regulator & policymaker, and has served across government at the U.S. Departments of State, Treasury, The White House & Senate. He is a senior executive with 15 years of public & private sector experience helping government agencies & Fortune 500 firms to run large & complex data-driven digital transformation projects, managing multi-billion dollar budgets & technology investments, & harnessing the power of innovation & emerging technologies to meet consumer & mission needs. He has scaled data-centric & technology-powered systems to modernize, secure, & advance U.S. innovations, clean energy, trade, export controls, national security, BSA/AML & KYC compliance, consumer protection, critical infrastructure, & cybersecurity programs. He has worked with industry & government leaders on shaping the business, policy, legal, ethical, regulatory, & technology dimensions of artificial intelligence, blockchain, cryptocurrency, CBDC, payments & banking, cloud & edge, quantum & IoT, cybersecurity, FinTech & RegTech, 5G & broadband, digital connectivity & identity.

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Chris’ practice comprises both insurance and fintech matters.His practice includes advising on Bermuda reinsurance structures and working with or forming large commercial insurers, life reinsurers, captives, special purpose insurers, and segregated account vehicles.Chris has advised and assisted with the formation of Bermuda cryptocurrency issuers using blockchain technology. He advises on matters involving digital transformation generally, including insurtech. Chris continues to work with various clients looking to form digital asset businesses on the Island.He also generally advises on all aspects of Bermuda corporate law, including mergers and acquisitions, takeovers, reorganizations, and re-domestications.

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Shidan is a serial entrepreneur who helped pioneer unified communications and the connected consumer electronics industries. He mined his first Bitcoin in 2010, and has been involved in cryptocurrencies ever since. He has been widely quoted in business and tech publications on matters relating to blockchain technologies and cryptocurrencies, and currently serves as CEO of Global Blockchain Mining Corporation, a publicly-traded cryptocurrency investment company based out of Vancouver, Canada.

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Claimyr is a fintech company that helps unemployed people with get their unemployment benefits. We’ve helped our users get more than $150,000,000 in benefits in the past 5 months. Our users rely on our APIs to decreases payout wait time from months to just a few days.Unemployment is an overlooked market of vast potential: Over $120 billion has been paid to California recipients in 2020 alone.

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About the talk

Meet representatives from countries that have strong initiatives for blockchain and cryptocurrency. Have a drink and learn about the global jurisdictions with us.

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So yeah, so we are between you and the drinks apparently. So but I'm so excited to be here because I want the surrounding the world twice over the last couple of months spending far, more time with lawyers And discussing jurisdiction that ever wanted to do today, we have actually some Moody High Caliber people on the stage to look at the question of jurisdiction. And what does it mean in a few centralized World while we can move around? Cloverly we still are local irresponsible of what's happening and what is possible for the company. If your eyes are working with investing as and

working with, and partnering with some government are still asleep. Other governments are much much further ahead. So I would like to start with the example of one government that understands the potential. Blockchain technology and the digital money have. We are welcoming Chris Garrett from explain to us what a forward-thinking government looks like. Yes, quite a trip there in the Atlantic. Now I don't know how many people have actually been to the middle left in the audience because we are the

very last one, right? That's good. 65,000 people, 21 square miles. Always like to think of it is sort of 65,000 alcoholics training, Ciroc anyway please don't quote me on that. Now, the lounger I took this photo, it's too loud, you're looking out. Now, I'm sure most of you are probably thinking right now. I wish I was actually sitting on that down to her for a drink in my hand now. The bad news is that you're not sitting on that lounger. The good news is that you probably will soon have a drink in your hand?

So, anyway, how far. From there, the Bermuda what we did in 2018 and just talkin about Fin II, what we've done as a jurisdiction, back in early 2018, I'll Premier John with David, birth visited double January with the intention of trying to introduce distributed Ledger technology as a brand new color of the music on Ami. And he meant with you met Mike Casey, where he is now, what year is the actress back to Bermuda. And we all sat simply myself along with the Ministry of Finance and other people on the island Beaver, monetary Authority by

truck companies in others, sat around the table and started drafting legislation to try to come up with how we were going to do this. We really wanted to try to create this new pair of our economy. The premier Dart is very for thinking he is our youngest up at Frontier. He actually has a technology background and he actually wrote an IOS app I'm a while back so we can see our legislation which is unfortunate. Acronym, that's ready for crowdfunding purposes. For a company. Such things

wishing to vote issue tokens to raise Capital moved on to drive, to capture banking legislation to allow Banks, to set up on the islands. I supposed to, like, Silicon Valley, but none of you have done that, but we have to let stations do it. Insurtech, legislation Bermuda is the second largest reinsurance market in the world following Lloyd's. So we wanted to allow Innovative Insurance to be opposite up on the island in order to do that. And then finally the digital ization which focused

on now Now we call it the Dhaba, these about me tomorrow, 3:40 license Vehicles, the BMA. Also the main regulator them directly insurance company's funds Banks as well as these new digital asset businesses. You can apply for two different licenses. When is this the class of full license with you in exchange, where your custodian, whether you are just the digital asset services provider? And the other one is a movie called sandbox license. The class-m. Not quite sure why they go to an end. But anyway,

you want to test your technology within the circle fan box with the under the sitter control in view of the BNA. To see whether or not it works for the knots. It's that works even in Bermuda, to be honest. And intention is that this may last for about 9 to 12 months, country, 15 months and then you could potentially come out and be a fully licensed vehicle in times of the timing shouldn't Theory. Perhaps take 428sp 12 weeks depending on how sophisticated the actual applicant is. And then the

actual application itself is really just a business plan, which is fog with the give me a monetary Authority and then without getting into too much symptoms of brain details cuz I can tell, you're probably all. Now. If you're ready to do you want to drink itself, just have to be consistent as it's actually just a list of something like a tree with registry requirements and legislation. So, This is fine. So this is head office of climate so you should detail, you know, how your grandson actually Implement your head office. How many employees you intend to the employee on day one and a

two. And so I don't they too but but year year to I should say there is a statement of principles which to be and I have come out with we really set out. You know, you want to make sure that the applicants are fit and proper and they have the integrity and skill and they actually know what they're doing and sense of setting up these types of businesses. So that's a big Focus for the DNA and I need an even bigger. Focus are the NL and ATF principles that have standards. The company of looking at implementing? So

That's a huge. Huge Focus for the BMA. Does he used a big appendix that goes into the back of his business? Time the sketch of You by 2 p.m. Knights and make sure that every every digital asset business, which is set up on the island, have the appropriate and I'll standard standards and measures that basically going to be implemented by the company. There is a code of practice as well, which really focus on custodians in any form of company where they're going to actually hold that you are acid is your last thoughts.

Again, they want to make sure that from a consumer protection standpoint, there are appropriate measures. But in Play, It's Worth, it's not sufficient, fiber Insurance, cyber security measures, I don't know whether it's the Thrifty storage. Kind of things. They want to make sure that those types of vehicles. Have those measures also in place And then really, again, I didn't want to talk with you long to do have an extra panel coming out, but finally, in a y Bonita, for those who put their

hands up saying, why you've been you have actually been there. The meter actually does have, its a proper heavy is a city. We do actually have, you know, it's a fairly sophisticated place to do business that we have all the theaters, you have. No corporate taxes. We have no withholding taxes and so on so that's obvious Advantage. But we do have a very sophisticated telecommunications network service providers, I'm a lawyer. So I can actually say that if it may I

and we do have arrived intact friendly progressive government. You're very keen and moving forward in this place that we also will do in 2018, William pimento oil Asian food. Any been in place for 2 years is very nice and has only two companies have actually received a digital asset business license today. So, we're moving forward in a fairy Creek sent, and Times of laying the groundwork, we want to make sure that our reputation remains in place. So it is, there's no snow. So, quality of a quantity that we don't want to be able to alleged jurisdiction where we want to sit at let

business, in where people don't know what they doing. What makes sure that people who actually come to the island, do know what they doing. So that's really nice. People and times I've lied to me. There is a good to your stiction so I'll hand it back tomorrow, now that Thank you. So now that we have seen what one country can do, let's bring the rest of the panel out here, covering anything from Canada to China as well, help me with a couple of people here. Other than traveling around the world. I've run into Bobby and I don't know around the globe in the last 12 months to have you back

here and look at this. You might not know everybody on stage. So I would love to give a very quick introduction of self introduction for everybody here. Let's start over there call. Can you just my name is Carl Weaver. I work for rivets Co-op. We protect crypto, wallet, private keys on Android smartphone. I'm in Asia and China, Wireless Market, mobile device specialist. Raven should an r u r, being an early adopter, cryptocurrency and blockchain Technology. I've done a lot of this face from, you know, investing in advising mining companies, two companies that

about issue digital license to technology platforms and Regulatory issues have been something that it will always come up. And I'm about to call me. That's where I can meet with Deloitte Consulting. And I also work in this space. My name is Bobby Lee. I'm the founder and CEO of ballet. We make a physical wallet for cryptocurrency, and we have offices in Las Vegas in Shanghai. And prior to start his company, my last role was CEO, and co-founder of btcc of the very first Bitcoin exchange in China started. 2011,

how important is regulatory Clarity in a jurisdiction for building? A business, entertaining, a business. It is very important for for cryptocurrencies very important because it doesn't easily fall into one of the existing asset classes. So in the early days were this an exchange of mining pool or Wallace these days? Obviously you know now that we're in our 11th 12th year of Bitcoin, we have much more regular territory regulatory Clarity off of cryptocurrency different countries. But back then when we

started BTC, China, 2011, there was no concept of cryptocurrency. Changes. So we're flying under the radar and trying to model of cells as as a sort of like a stock market website with Live 24 for 24/7 for training. Yet motor sounds like a bank in terms of requiring kyc for a customers and ultimately, the story ended that BT's China had to close down as Chinese exchange in September 2017, because that's when the regular Regulators, finally, put their foot down and say no cryptocurrency exchanges in China and we we just obeyed their meth

change that policy. I didn't call you or focusing a lot on the Chinese cryptocurrency that is under development. Correct. Are so basically trying is going to launch its dcep, digital currency, electronic payment, that's going to happen. Just have to Chinese New Year. From my estimations are the Chinese government has a text. It's a dichotomy right now, cryptocurrency, Ico crypto exchanges, they're all banned in China and what people are still doing it even though it's banned. It seems like you do it. If you ban if they want to do it, more on the other side, The Sovereign digital currency.

That's what it is at The Sovereign digital currency. They want to launch the sister. I think just have to Chinese New Year and it's a two tiered strategy where the People's Bank of China will pass it down to the Central Bank of China and then to five banks and I believe through 5 smartphone manufacturers to China union. Pay that is the plan in the strategy to use basically to push this out, to the world, basically, but specially the belt and road. So this is the real thing. This is not a pipe dream, Chinese government does not basically make. In the

air and not follow through. So this is going to happen. It's going to have a techtronic impact on the world financial system. But I predict Central governments around. Other countries will look to do the same thing or central government is based on your history with the federal government and all the beating. The US regulatory system gets from the Crypt of community. Where do you think the use of standing? And what's the future for companies based in the US? So, rude, question. And then actually, so China is push for a digital currency or

Central Bank to build currency. I've been working on that issue for actually a few years now. Not China's, but how we can Implement a similar system in the United States. So talk about regulation in the in the US we have sort of this regulation of the state level than at the federal level and everyone is regulating based on the activity. So whether your business model is such that Can you a security? You're going to be regulated by the Securities and Exchange Commission Commodities with the cftc and so on and so forth. I think within the US, you know, it's it's a bit harder

to sort of implement a large-scale save in a cryptocurrency or watching a solution, because you have so many Regulators on the table. And there is, there is this lack of clarity and consistency and regulation, which will hinder, adoption of say, Central Bank, digital currency. Is that why? It said, one of the reasons why a lot of us companies to reverse, mergers in Canada, gets Canada listing as she going to think they send you a Canadian background. I think you have a problem. Unique

perspective looking over Order ahead and tell you this, but I, I started one of the first listed companies in Canada in the blockchain space and Show my my my take on this whole regulatory aspect of cryptocurrencies is if you're looking at a central bank currency and Municipal currency, whatever. If they if it's a virtual government-backed currency or tracking things on blockchain, these aren't really interesting to me from a regulatory perspective, means very little to me as lawyers. Obviously, it's very interesting few but to me it's not interesting at all. What becomes

really interesting for me is when you look at digital bear instruments and what's going to happen with that, right? What's what's going to happen with something? That doesn't settle, doesn't clear? Do I need to know centralized party that today is anonymous or pseudonymous and can trade you know represent the receipt for goods or you know future Services, whatever. If it's a digital Bearer instrument no real money is going to come into that space of issuing. These at reading, the holding these using these, when they work for Complications until, you know, regulatory

Clarity becomes really a part of it. And that's why I think the most interesting aspect of regulations and cryptocurrencies and blocked. So, is it just kyc or AML regulation? Or it doesn't go beyond that because you're International, you can't, you know, game the efficiencies of cryptocurrency that aspect of digital Bearer instrument with how we deal with identity today. We know that that we can build systems that, you know, the issue doesn't have to worry about the user's identity, but if it's required, you know, another party can

can release that information for the courts, for example, and I'm getting rid of this idea of of people doing kyc, AML over and over again. And, and you do every country doing it. And I'm coming up with a framework for identity is the most important thing to get. All the benefits are the benefits of cryptocurrency, without their their shortcomings. So, we have today, go to the total supervision states with the facial-recognition, like between China and password for the internet, where people are known as they're not necessarily

reveal to any other party, but for example, your bank or your phone company or somebody can reveal that when necessary, it's actually it's a little bit different because I'm actually a Huawei smartphone, that's kind of a company to be talked about the United States, but they have very good security and they've actually enabled your Sovereign identity, and the national ID card on the following smartphone. So, I can now use my smartphone with my, if I'm in, China are lots of other countries in Asia, have the national ID card. Driver's license are the ones behind

this national ID card is connected to the smartphone and that's why I've connected to the bank as well. So I think they figured out your National Sovereign identity solution through the smartphone, so that to me, actually sort of kind of Screams. The one of the issues is, which is privacy because you have you have systems in place when you talk about that are centralized system that, you know, with one identifier, one number you can essentially determine a person's, you know, how Financial everything you we want that here in the United States. We want a centralized identifier that

would verify, all of us identify will do. I don't think here were as willing to come and give up our civil liberties and say other countries are the jurisdictions are. So I think that's, that's one of the issues the other I think for adoption is governance of decentralized systems. I mean Issue that I'm on the organization for economic cooperation development blockchain expert policy Advisory Board and that's like the number one issue with these systems that are decentralized. How do you conduct a burn until we solve for that? You're not

going to see a lot of traction in the United States jurisdiction at least in the u.s. GDP of course, in in Europe and all the historic license people have learnt their from centralized data, what you can call, you can abuse them. How does the government like the Democrats? For example, looks at all these different ways inside out candy. Create an environment where companies can comply in the global environment with Google's goggle challenges, Sounds like privacy and

personal zootopia who just called Christmas motion detection. I don't think we're quite there yet. Protecting people's privacy. If there's some way you do is sleep, the great stuff over to the u.s. Naval Academy. I just think it's weird that we have had, she had some discussions about having a t. I v e, song, completely hands-off approach, which I think What about private Public Partnerships? I mean China the belt and Road initiative supports a very, very

closely aligned the other hand, the USB just leaving the ends off of it completely, where is The Sweet Spot or is there a sweet spot? I think time will tell, you know, in terms of the two, extremes of a mayonnaise economy, manage system versus having more individual Freedom, control and privacy, and all that, an earlier, comment about China. They certainly more technically Advanced on the front of, you know, digital ID's on phones, facial recognition, cameras everywhere with that. Kind of advancement is not necessarily suitable for every everyone

as American living in China. For the last thirteen years, I am living there for family, and business reasons, but there's a lot, you know, they're there A lot of times, right when I cringe about what's happening in China in terms of, you know, in China literally there is an ID number which is your national ID card number that uniquely identifies you. It has a birthday in bedded in there to bite by revealing. The number people can tell you can tell how old you are And the control, your travel, train travel, bus travel airline travel with that number.

So people can literally be banned from traveling around China. When they Blacklist your number, you cannot even check into a hotel. So, so and then have facial recognition cameras everywhere to self near, not miss it. When we want, even though I've been living in there right now. So I can invest an entrepreneur. I think most people in the room, we would love to know if it was good, recommendation of where we should go. And I think we have to wrap it up. So that's the one question I really would like to have for each of you. If

you are building a company today, where should you go and create a decentralized global business? But where locally should you be? Let's start on that side and then and over here, I say, convince Apple because Apple wasn't convinced about the blockchain yet convinced Apple. Because Apple cares about your privacy or Sovereign are your Sovereign identity privacy and I know you might cringe with that but apple is the only thing you can't depend on Google or Facebook. They don't care. They're prostituting your information all over the world. Apple doesn't do that. So start with apple, see if

they're interested and if they're not going to create their own cryptocurrency, which they probably won't, at least see how they can support the security of crypto Wallets on on, on iPhone. What's your recommendation for location? Your specific is a wonderful place. I think, you know, the most important thing for a startup, if you are looking at the cryptocurrency space where the space of, you know, this concept of digital fear instruments, it's not just good enough to have Regulators on board. A place where the banking industry is on board with you as well. Do you know

like like for myself like I can work with a trust company or some banks that I have a relationship with? But, you know, your number stored up out there if they, even if, if a country is very, you know, positive as far as regulations, go put into words cryptocurrencies but their banking isn't, there you're in deep trouble. You're not going to go very far so that's that's what I would watch for it on. My mom. Going to give any specific recommendations if anybody wants to speak to me about it after I can get some ideas of what I think is good. Are there needs to be a business

case with a solution of you that what were you trying to do in that jurisdiction? That will allow it to start my new company ballet and I purposely this time around, I chose to incorporate a company in in the u.s. in the state of Delaware. So my actions tell tell me that I want to do this in the United States and address of Global Market from that even if China Asia is a large market. For, for this product, we we base our company in the US, New York. We have to

explain in left in place and we have to come see us there. If you could have ww.w Simplex off, DND, you can read all about, but we're giving them to me then. They will want you to come in and grab me, a will probably be either Terminator or the Minister of Finance depending on what you want to do. So I was willing to have your desk. Look look to have your business as long as you're a serious and you won't actually come. Thank you very much and please help me get a

big hands.

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Mark Mueller-Eberstein
Combiz Richard Abdolrahimi
Chris Garrod
Shidan Gouran
Tom Maxon
Karl J. Weaver