CEO Alexey Ognev's Presentation at Money Expo 2023: Highlights
On August 12th and 13th, DigiU founders Alexey Ognev and Alexander I participated in Money Expo 2023, where they delivered their presentations. They discussed the future of international trade and the development of modern financial technologies.
The theme of Alexey Ognev's presentation was "The Future of Banking and International Trade Illustrated by the First RWA Bank."
"My presentation will focus on the near future which concerns each of us! We will talk about the future of banking and international trade, using the example of the first RWA bank.
In his presentation, Alexander I discussed the potential future of finance. I want to delve into this topic and pose a question: What if RWA assets become a legitimate form of ownership? What if this happens at a legislative level and is adopted by most countries worldwide? I pondered this question and began researching.
Throughout history, whenever a new form of ownership emerged, a structure to manage it followed. There were always lenders and asset managers. And whenever a new form of asset emerged, banking activities evolved.
I asked myself: How soon will we see the emergence of the first RWA bank if these assets become fully legitimate? In our view, the first banks will start appearing in the near future. And naturally, they will initially operate in a gray area, much like the current state of the crypto industry.
Imagine a scenario where you can take out a crypto loan from the first RWA bank, spend it on purchasing any tokenized asset, like real estate, and the bank can legally use these assets as collateral and integrate them into their liquidity.
How quickly will the bank attract a large number of liquidity providers? I believe it will happen rapidly. In the next year or two, we might witness the emergence of such banks, enabling full-fledged property purchases and other asset acquisitions through credit funds.
Another crucial aspect remains: How can a bank operating in the crypto industry transition into the fully legitimate field? How can it truly influence the future of banking and international trade?
The missing piece in this puzzle is CBDC!
Then we see an RWA bank that uses cryptocurrency and collateralizes tokenized assets. We also observe the emergence and implementation of national cryptocurrencies, which is already happening.
Do you think such a bank could utilize both asset types if everything is legal and supported on a governmental level?
Yes! Only in such a scenario can we envision the future of banking that opens new possibilities for users. You can comfortably purchase tokenized real estate, take loans to acquire any assets eligible for tokenization, become a liquidity provider to the bank, place deposits – which banks will evidently attract – and even safely store central bank CBDC currencies and cryptocurrencies.
This is the future of banking and international trade, and as a result, all other spheres. As the DigiU Venture Capital Fund, we invest in the industry, in infrastructure, so that such a scheme can function. We are engaged in CBDC implementation, liaising with banks from various countries, and developing solutions to technically establish familiar forms of interaction with banks, such as loans and mortgages.
And when I travel to various countries, like those in Africa, India, and Indonesia, I see a real need for this! I observe people without bank accounts due to the impossibility of obtaining them in their countries. Yet, these people actively use cryptocurrencies. These are enormous markets and immense opportunities!
I believe that the evolution of the banking sector in international trade and the integration of cryptocurrencies into the banking environment will start precisely with countries like India, Indonesia, and African countries where this need exists."
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