The Genesis of FinP2P

The first priority of governments going into the Covid crisis was (rightly) the preservation of life, at
the expense of the economy. Going out of the crisis will be about the economy.

Tens of thousands of private companies, the backbone of the economy, will need capital all at once. Banks are in “Triage” mode. Current processes of private capital raises (equity or debt) are slow, manual, legal-heavy, extremely inefficient, and non-scalable. The “new normal” means the old manual processes must go digital. It’s a process that was coming anyway, but the crisis is making it that much more urgent.

The financial community came together to step up to this challenge, to digitize private capital markets, and dramatically scale up its capacity to help private companies out of the crisis.


Status Update

The FinP2P community have completed the first PoC stage, integrating FinP2P nodes with 10 different technologies, a short video of the PoC event can be seen here:

Call to Action

On the 26th of May 2020, an industry group, the Private Markets Digitization Steering Group, which was formed under the umbrella of GDF, came together with the purpose of addressing this challenge. The group included leading financial institutions, market infrastructure players, major technology companies, Fintech startups and regulation experts.

The principal output of the session was to work together towards the launch of an institutional digital securities network within a time frame of 6-12 months.

The group then created 4 work streams:

About FinP2P

FinP2P is a draft proposal for a digital security network specification, which would be:

  • Open to all regulated institutions

  • Multi-vendor

  • Blockchain agnostic

  • Open Interfaces

The specifications for FinP2P will be driven mainly by members of the Technology work stream, but are public and transparent to the industry. The plan is for these specifications to be open-sourced, so that every market participant across the value chain, can develop and deploy technology utilizing these specification, to form a global, institutional digital securities network.

We encourage all stake holders and contributors to review the specifications, and participate in the discussion.

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