Building decentralized financial ecosystems

Amber Baldet, CEO and Co-Founder, Clovyr; PMC Lead, Decentralized Ecosystem Growth Program

finos.org

Fintech Open Source Foundation

FINOS DEG

Welcome to open finance!

finos.org

Fintech Open Source Foundation

Open finance isn’t all about “blockchain”

Cryptocurrency is decentralizing the issuance, storage, and safety of things that look like money (or maybe securities, or maybe commodities).

Cryptocurrency does not automatically give people alternatives to traditional financial products, or change the underlying reasons they seek out financial services.

We need a home loan

I want to sell my art around the world

I want to invest in early stage companies

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Fintech Open Source Foundation

Open finance is about increasing choice

Reducing operational cost and better matching of service providers to customers is making it more efficient to engage underserved markets.

Most early products are retail-oriented (but that is changing).

My credit score is a poor indicator of my likelihood to repay

Reaching my audience and doing business with them is too expensive

I don’t meet private equity account minimums

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Fintech Open Source Foundation

Open source is key to open finance

Open source protocols reduce vendor stickiness and encourage “yes, and” building

Open source applications increase transparency into decision making and build customer confidence

Partially open source applications help providers focus investment on their secret-sauce layers

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Fintech Open Source Foundation

Decentralized elements help innovators challenge the status quo

P2P markets

Smart contracts

Network messaging

Digital bearer assets

Code governance

Multiparty compu-
tation

Cloud multiplex

Web of trust

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Fintech Open Source Foundation

“We should care less about whether something is centralized or decentralized than whether it is accountable.

An accountable system is responsive to both the common good for participants and the needs of minorities; it sets consistent rules
and can change them when they don’t meet users’ needs.”

-Nathan Schneider

finos.org

Fintech Open Source Foundation

Webbernext Components

Distributed Systems

Networking

P2P Protocol

Internet Protocol (IP)

Data Exchange

Peer Management

Blockchain (optional)

State Machine

Incentives

Infrastructure

Hosting

Application Runtime

Applications

UI & UX

Libraries & Tools

Hardware

Consensus

Governance

Addresses

Required

Analysis Resistance

DNS / Decentralized DNS

Sharding

Sidechains / Channels

Interoperability

Secure External Compute

Decentralized Delivery

Unique Functionality

Common Abstractions

Key Management

Query / Introspection

Data Sources

Secure Boot

Trusted Execution

HSMs

Cryptographic Utilities

Lots more...

APIs

Optional

Webbernext Components

Distributed Systems

Networking

P2P Protocol

Internet Protocol (IP)

Data Exchange

Peer Management

Blockchain (optional)

State Machine

Incentives

Infrastructure

Hosting

Application Runtime

Applications

UI & UX

Libraries & Tools

Hardware

Governance

Addresses

Required

Analysis Resistance

DNS / Decentralized DNS

Sharding

Sidechains / Channels

Interoperability

Secure External Compute

Decentralized Delivery

Unique Functionality

Common Abstractions

Key Management

Query / Introspection

Data Sources

Secure Boot

Trusted Execution

HSMs

Cryptographic Utilities

Lots more...

APIs

Optional

Consensus

Webbernext Components

Infrastructure

Hosting

Application Runtime

Applications

UI & UX

Libraries & Tools

Secure External Compute

Decentralized Delivery

Unique Functionality

Common Abstractions

Key Management

Query / Introspection

Data Sources

Cryptographic Utilities

Lots more...

APIs

Blockchains

Geth

Quorum

Polkadot

Parity

Other P2P

Matrix

libp2p

Other Projects

TBA...

Tor

Etc...

FINOS DEG

About us

finos.org

Fintech Open Source Foundation

The Decentralized Ecosystem Growth program

We build tools that make decentralized finance work for banks, businesses, regulators, clients, and customers.

We identify long-standing challenges in the financial industry that we can solve in new ways.

We learn from each other and we create space for diverse perspectives to flourish.

Develop tools

Think differently

Build community

finos.org

Fintech Open Source Foundation

We investigate:

  • Utility and interaction between CBDC, stablecoins, public cryptocurrency,
    and traditional banking payment rails
  • Replication of common pre-, on-, and post-trade workflows via modular
    and verifiable smart contracts
  • Transferring data models for common financial assets to
    digital tokens
  • Data confidentiality, privacy design, zero-knowledge systems
  • Data oracle design, decentralized data authentication and
    access schemes
  • System migration and integration (internal, between similar
    networks, between disparate networks)

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Fintech Open Source Foundation

FINOS Overview

Community and Programs

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Fintech Open Source Foundation

The FINOS Community by the Numbers

21

Working Groups

300+

Contributors

11

Collaborative Programs

31

Member Organizations

SILVER

MEMBERS

GOLD

MEMBERS

PLATINUM

MEMBERS

75

Open Source Repos

finos.org

Fintech Open Source Foundation

FINOS Programs at a glance

FDC3

Financial Desktop Collaboration & Connectivity

HAD

Hadouken Ecosystem

SYM
Symphony

FDX

Finserv Developer Experience

OSR

Open Source Readiness

FOS

Financial Objects Standardization

PLEXUS

Plexus Interoperability

VOICE
Voice Technology

Foundational

Infrastructure

Middleware platforms

Data layer

Application Layer

DT

Data Technology

DAV
Data Visualization

Open Standards

DEG

Decentralized Ecosystem Growth

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Fintech Open Source Foundation

OUR PROGRAMS

Financial Desktop Connectivity & Collaboration Consortium (FDC3)

Context Data

Intents

App Directory

API

Use Cases

Financial Objects

Financial Objects

Plexus Interop

Plexus-Interop

Symphony

Java Client

Integration Bridge

Tag Standardization Working Group

Symphony Electron

ContainerJS

Jcurl

50 More...

REST API Specification

Voice, Voice Metadata and Voice API

GreenKey SDKs

Call Metadata Standardization

Open Source Readiness

Open Source

Readiness

Hadouken

Layouts Service

Notifications

Service

Application Templates

Desktop Services

Hadouken Core

Data Technologies

kdb+

Security Reference Data

Open Source Project

Working Group

Legend

Forming

Our Programs, Projects, Working Groups

Data Analytics Visualization

Perspective

FinServ Developer Experience (FDX)

GitHub Chatops

Bot

Open Developer Platform

Developer
Experience

Foundation Dev

Toolchain

Decentralized
Ecosystem
Growth

Decentralized Technology

finos.org

Fintech Open Source Foundation

More information

Decentralized Ecosystem Program: decentralized.finos.org
FINOS: www.finos.org
FINOS Wiki: wiki.finos.org

Introduce Yourself! Send an email to community@finos.org

18

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Fintech Open Source Foundation

[FINOS] DEG Meetup at Moodys 2019.3.5 - Google Slides