Written by Logan Smith

On July 29, 2021

FDIC Chief Innovation Officer discusses the future of banking with Metal CEO Marshall Hayner

It’s not often that you get the Chief Innovation Officer of the FDIC to sit down with your team and discuss the future of banking live for the world to follow along. In fact, this week was the first time it ever happened.

If you didn’t catch the Clubhouse call, our CEO Marshall Hayner, joined by our CFO Irina Berkon and our Business Operations Associate Maria Cho, met with the FDIC’s Sultan Meghi to talk about what will happen next in the world of finance. Sultan is no stranger to blockchain or DeFi, and you can tell how much he cares about this space just by listening to him talk.

You can check out the audio of the call here, but we’ll give you the broad strokes below.

Sultan explained that his office is focused on designing the future of finance with four specific aims:

  1. Inclusivity – Ensuring the United States has the most inclusive banking system in the world.
  2. Resilience – Preparing for and protecting against new and emerging threats.
  3. Amplification – Finding ways to make the banking system and other regulators more efficient than ever before.
  4. Future-proofing – Being proactive with what’s to come, thinking through possible scenarios, and ensuring our system isn’t simply reacting to each new event.

As you can imagine, this won’t be a simple task, but it is urgent. According to Sultan, the gulf between new technology and old technology offers a vector for attack for malicious actors, and bringing old technology up to speed can close that gap and harden our systems.

Marshall summarized the need well when he said “By 2030, every company will most likely be using some form of digital ledger in some way.” This is a departure from the norm, but it’s a change we have known is coming. That’s why we’re building Proton.

The Proton blockchain was built to make it easier for companies to bring their systems up to speed. With a suite of capabilities, including Proton-wrapped cryptocurrencies, Proton Resources, Proton Decentralized Identity, Proton Signing Request, and so much more, the Proton blockchain allows developers to future-proof their project.

We have always believed in being proactive with what we’re creating, especially when it comes to future regulations. That’s why everything we do is designed for what we know is coming next, not simply for what is just here today. When you integrate Proton into your project, you know that you’re integrating the bleeding-edge of blockchain technology.

Meeting with the Chief Innovation Officer of the FDIC was an awe-inspiring moment, and we’re so glad that our community was able to join the call and listen in. Was there something you missed in the talk, or did you not have time to tune in? We’ve uploaded the audio of the call on YouTube, you can check it out here. Additionally, we encourage you to follow Sultan Meghi on Twitter to stay up to date on everything that’s happening at the FDIC, this is an area you will want to keep tabs on.

Seeing the FDIC working in-step with blockchain companies is a beautiful thing, and we’re glad you are here to witness it.

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