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[2018 The 19th World Knowledge Forum] Kaidi Ruusalepp - Blockchain is Challenging Stock Exchanges file -

 

 

 

 

 [Blockchain is Challenging Stock Exchanges]

Stock markets used to be the source of growth capital, followed by (immediate) liquidity.

Google and Amazon raised less than 7M USD before going public.

Now that the technology enables us to be connected (globally), companies can raise billions of dollars from private capital before going public.

Companies stay longer in private hands, whereas early stage investors struggle with liquidity.

The problem is boiling down to the price of the capital.

The second issue around stock markets is the long chain of service providers, all of them actually providing trust.

Proving that my securities belong to me, my securities have been transferred to the counter-party and that the latter has received the assets etc.

All of this is very much goes back to the centuries old capacity of trading floor.

As a result, the stock exchanges are rather local because of the local nature of the intermediaries. 

Now that businesses and funds are global, technology has very little capacity limitations and internet is accessible to the majority of markets, the only problem

to solve for (new) stock exchanges is trust. And this is where the blockchain is coming in - to provide trust.

Once my securities are recorded in the blockchain, it is easy to keep track, transact and see full history of the my assets transaction chain.

It is like audited ledger, except global, distributed and decentralised.  

And this is where the blockchain starts to challenge the flow and liquidity of global capital and makes stock exchanges to think about new business models


[Kaidi Ruusalepp - Funderbeam Founder and CEO]
Founder and CEO of Funderbeam, the global funding and trading platform of growth companies built on blockchain.
Funderbeam combines three stages of investor journey into one: company analytics, investing, and trading on the secondary market.
Powered by blockchain technology, the marketplace delivers capital to growth companies and on-demand liquidity to investors worldwide.
Member of Startup Europe Advisory Board at European Commission. Kaidi is a former CEO of Nasdaq Tallinn Stock Exchange and of the Central Securities Depository.
Co-Founder of Estonian Service Industry Association. A lawyer by training, she co-authored the Estonian Digital Signatures Act of 2000 -- landmark legislation that enables secure digital identities and, in turn, the country’s booming electronic economy.

 

 

 

 

 

 

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