The benefits of blockchain technology are yet to be realized in banking. While some large banks have commercial projects nothing has really taken off yet. Much of that is due to regulatory uncertainty but many banks are actively engaging and learning while we are in this something of a holding period.

Our next guest on the Fintech One-on-One podcast is Robert Morgan, the CEO of the USDF Consortium, a group of banks creating a blockchain-based system for tokenized deposits that will make banking safer, cheaper and more reliable for consumers. Rob used to be the head of innovation at the American Bankers Association (we had him on the show back in 2017) and so he has a deep understanding of banking and technology.

In this podcast you will learn:

• Why Rob decided to make the jump from the ABA to the USDF Consortium
• How he describes what USDF is exactly.
• How banks will use USDF and a description of the payments flow.
• The primary benefits of USDF and the most popular use cases.
• How the programmability of USDF can be leveraged.
• Why USDF will be complementary to Fedwire and FedNow (when it launches).
• How the USDF Consortium, the Provenance Blockchain and Figure are related.
• How they are working with the Federal regulatory agencies today.
• Details of their response to Treasury’s RFC on digital assets.
• How they view CBDCs and how it could be complementary to what they are building.
• The types of banks that are members of the consortium.
• Where they are at when it comes to USDF going live.
• The objections of banks who are not ready to join the consortium.
• What Rob thinks the next move from regulators will be when it comes to digital assets.
• What the banking system could look like in ten years time.

Connect with Fintech One-on-One:

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• Find previous Fintech One-on-One episodes