Global Head of Business Architecture for Coin Systems, J.P. Morgan
Wee Kee is Executive Director and Global Head of Business Architecture for Onyx Coin Systems at J.P. Morgan, where he is responsible for architecting business capabilities for Coin Systems, and developing strategies to address current needs and capture future opportunities. He works closely with the product team to develop product vision and strategies, and with the technology team on aligning technical solutions with business needs.
Prior to joining J.P. Morgan in 2022, Wee Kee was the Specialist Leader for Distributed Ledger Technology at the Monetary Authority of Singapore, and led Project Ubin, a collaborative industry project exploring the use of blockchain and DLT for clearing and settlement of payments and securities. He was also Advisor at the BIS Innovation Hub, where he led Project Dunbar with a vision of enabling interoperable CBDCs and connected multi-CBDC platforms.
Summit Stage, Sands Expo & Convention Centre, Level 4
Invite-Only
As the global financial landscape shifts from traditional systems to a token economy, it offers a transformative opportunity for a more inclusive financial system. Tokenization is projected to save up to $20 billion annually in global clearing and settlement costs and can unlock $16 trillion of illiquid assets by 2030.
The design and participation in digital asset market infrastructure are emerging as critical strategic and policy issues. This roundtable will bring together technology companies, financial institutions, and policymakers to explore various infrastructure models where digital assets are issued, transacted, or utilised.
Key Discussion Points:
- Motivations behind different infrastructure designs for digital assets, including regulatory, technological, and economic drivers.
- Opportunities created by the tokenization of assets, from improving liquidity to enabling new financial products and services.
- Challenges faced by both market participants and regulators, including issues around interoperability, compliance, and scalability.
- The role of technology companies and financial institutions in shaping the infrastructure for digital assets.
- Policy implications and how senior executives can collaborate with regulators to build resilient and secure digital asset ecosystems.
By the end of the session, participants will gain a deeper understanding of the strategic considerations, risks, and collaborative opportunities in designing digital asset infrastructures, ensuring they align with market needs and regulatory frameworks.
Roundtable Room 4, Sands Expo & Convention Centre, Level 4
Invite-Only
In a roundtable "Shaping the Future of Cross-border Transaction Compliance" held during the Singapore FinTech Festival in 2023, a major challenge identified was the increasing intricacy of sanctions screening and compliance with capital flow management measures. Additionally, participants highlighted the importance of developing interoperable and modular technological solutions that can adapt to various regulatory environments. The discussion introduced the concept of programmable compliance. This concept envisions smart contracts with embedded policy and regulatory implementations for digital assets, as a potential direction for the future.
This roundtable will continue the dialogue on programable compliance with an emphasis on privacy-enhancing technologies such as zero-knowledge proofs and multi-party computation in the compliance context. The roundtable will also focus on the key efficiency gains emanating from Project Mandala, a BIS Innovation Hub initiative, which aims to facilitate peer-to-peer exchanges of compliance requirements and data between financial institutions, utilising cryptographic proofs for verifiable compliance.
Key Discussion Points:
1. Enhancing Cross-Border Transaction Integrity: The roundtable will explore how programmable compliance can address challenges in ensuring consistent regulatory compliance across various jurisdictions, particularly in cross-border digital transactions.
2. Embedding Compliance into Digital Assets: A significant focus will be on the opportunities and challenges of incorporating compliance checks directly into digital assets through smart contracts, aiming to streamline and automate regulatory compliance processes.
3. Balancing Compliance and Data Privacy: Another key aspect will be the need to balance regulatory compliance with data privacy concerns, ensuring that programmable compliance mechanisms do not compromise sensitive information.
4. Overcoming Technological Barriers: The roundtable will delve into the technological hurdles of implementing programmable compliance in existing digital payment systems and how to design adaptable smart contracts that meet evolving regulatory requirements.
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