The international trade finance industry is increasingly turning to distributed ledger technology to expedite its transition to digital platforms. Recognizing this trend in 2016, BAFT (The Bankers Association for Finance and Trade) and its members set out to create the business rules and technical specifications for a digitized form of the commitment to pay – the heart of every trade finance transaction. This webinar will provide an overview of BAFT’s Distributed Ledger Payment Commitment (DLPC), including its origins, functionality, and underlying technical and legal frameworks.
Following BAFT’s DLPC Technical and Business Best Practices creates a digital asset that can operate on any blockchain platform and even between them and also is legally enforceable. The latest version of the DLPC Best Practices, released in spring 2020, incorporates industry comments and experience from implementation in actual trade finance transactions. The DLPC was used to finance these transactions and facilitate the ultimate payment for goods.
The OCC guidance earlier this year that permits bank participation in blockchain networks and use of stablecoins for payments places the DLPC in a unique position to accelerate the digitization of trade. Join us for the webinar to learn how.
101 Blockchains hosts this webinar on “BAFT’s Distributed Ledger Payment Commitment (DLPC) Best Practices and Use-Cases” presented by:
- Samantha J. Pelosi, Senior Vice President, Payments and Innovation, BAFT
- Srinivasan Sriram, Founder & CEO, Skuchain
- André Casterman, Founder & Managing Director, Casterman Advisory
Webinar Discussion Topics:
- Obtain an understanding of the problem that the DLPC was created to solve
- Learn the basics for BAFT’s business and technical best practices for utilising the DLPC
- See examples of how BAFT’s DLPC has been used in live trade transactions utilizing blockchain
About The Speakers:
Samantha J. Pelosi, Senior Vice President, Payments and Innovation, BAFT
Samantha is Senior Vice President, Payments and Innovation at BAFT, the preeminent global transaction banking association. Samantha defines and executes the association’s strategy for emerging technologies (such as blockchain and artificial intelligence), payments, and financial crime compliance. Samantha joined BAFT from the Federal Reserve Board, where she led all retail payments initiatives (including FedNow) as a policymaker and implemented the Dodd-Frank Act as legal counsel. She built the compliance function of Travelex Global Business Payments (now Western Union Business Solutions) from the ground up as its global head of regulations and compliance. She advanced the anti-money laundering mission of the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) following 9/11 and the passage of the USA PATRIOT Act. She began her career as a corporate and finance attorney at the Silicon Valley based law firm of Morrison & Foerster. Pelosi holds a JD from the University of Virginia School of Law and a BA in political science from Duke University.
Srinivasan Sriram, Founder & CEO, Skuchain
Sriram is a passionate entrepreneur who founded Skuchain to bring efficiencies to the global supply chain. He was instrumental in carrying out the first blockchain global trade transaction in 2016 between the US, Australia and China, and initiated the process with the BAFT Trade Working Group that brought in key BAFT professionals, global banks and industry leaders resulting in the public release of the “Best Practices for Digital Ledger Payment Commitments” (DLPC’s). He has led Skuchain in becoming a World Economic Forum Tech Pioneer of 2019 and one of the top three blockchain companies in trade finance.
This webinar is available only to premium members. Become a member now to watch this webinar.