STACS is proud to be part of Deloitte’s Financial Services Technical Series
STACS is proud to be part of Deloitte’s Financial Services Technical Series. On 4th November 2019, Managing Director Jay Ng was invited as a panelist to share perspectives on “Financial Technology, Services and Assets” at The Grand Hyatt Hotel.
Jay discussed the present and future applications of Distributed Ledger Technology (DLT) in financial services on a panel excellently moderated by the head of Deloitte’s APAC Financial Services Tim Pagett, together with other industry stakeholders from iSTOX and TenX.
Jay observed that, “Just as China is able to leapfrog much of the credit card phase in payments towards digital payments and a cashless economy, DLT such as STACS Blockchain will enable emerging market financial participants towards better capital access — leapfrogging the technical rigidity faced within the financial industry of developed nations.”
As part of the in-depth fintech seminar, topics explored included practical examples regarding the current state of the technology, applications in the context of securities and asset management, and an update on related support infrastructure developments.
“Every innovation has to speak to one or more trends,” commented Darius Liu of iSTOX.
Speaking about trends for Emerging markets —STACS is seeing demand for Blockchain Technology from both incumbent stock exchanges and challenger exchanges.
Live Case Study: 100%-Digital Challenger Exchange
Traditional stock exchanges operate with legacy technology infrastructure which tend to be cumbersome and expensive to maintain in comparison to Blockchain Technology usage.
Many incumbent stock exchanges have started to see new market opportunities and the cost savings from deploying a new digital exchange on the Blockchain, such as the STACS Network.
STACS is focused on empowering financial institutions through blockchain technologies that result in lower cost base and digital transformation for new revenue streams. In fact, the team at STACS shared that building a 100%-digital exchange saves clients 90% of estimate costs compared to traditional infrastructure.
TenX’s Toby Hoenisch agreed with the potential in DLT, “We can continue to open up markets — using DLT.”
STACS is a Singapore-based Blockchain development firm focusing on the digital transformation of the financial industry. Our flagship product, the Securities Trading Asset Clearing and Settlement (STACS) Network, is a blockchain built specifically for Finance. Our vision is to be the underlying Distributed Ledger Technology on which Financial Market Infrastructure is built upon.