January 24, 2018
An excerpt from the interview below.
Asian Banker: ...but to the extent that this is driven by financial institutions, almost all of them are just participating in order to see there is proof of concept rather than roll-out because the moment you’re ready for a roll-out you can almost imagine that some of these consortiums will break up and they will go back to their own playing field.
Cedric Jeanson: I think you are right. One of the things let’s not forget is that banks are in competition with each other. So, today, we start saying that some banks have a certain better network than others. That is not the will of cooperating. I don’t think of something on such a global scale as to how easy would it be to coordinate all the banks in the world into a single network...especially banks have a lot of regulatory cost right now. The budget that can be spent on this kind of project is really, to my mind, limited. On the contrary, you see those networks, those blockchain networks, like the internet network that didn’t exist till a few years ago, that take the energy of hundreds of thousands of the brightest software developers around the world. We’re trying to develop something or develop something from scratch, from the white paper, obviously. This is quite impressive, and for me it’s like water that you cannot stop. People want this network, they want to use it, they want to develop it, and there’s nothing you can do against that, it’s a will. This is also very interesting, I think, for countries and for governments because it creates progress.
Read the full transcript here: