SmarterMarkets™

Carrie Jaquith, the Global Head of Digital Product at Abaxx Technologies, shares her expertise in digital title and tokenization. She discusses the essential factors for institutional tech adoption, emphasizing interoperability and auditability. Carrie explains the importance of fitting new tools into existing workflows without disruption. She advocates for augmenting PDFs with advanced features for trust and privacy, while also highlighting the role of humans in monitoring AI outputs during financial operations. Her insights guide a thoughtful approach to evolving technology.

In this engaging discussion, Peter Zaman, a Partner at HFW Singapore with a rich background in commodities and tokenization, dives deep into the mechanics of transforming real-world assets. He highlights the differences between physical and dematerialized commodities and explains why gatekeepers are crucial in trading. Peter also explores the democratization of access through fractionalization and clarifies how legal frameworks enable fractional ownership. Regulatory challenges, especially those related to public tokenized commodities, also take center stage in this enlightening conversation.

Phil Zimmermann, creator of Pretty Good Privacy (PGP) and a visionary in cryptography, dives into the crucial balance between technology and privacy. He reflects on his early passion for codes and the evolution of public key cryptography. Phil discusses the pros and cons of centralized vs. decentralized trust models, warning about the risks of endpoint compromise and the government’s historical stance on encryption. With insights into the threats posed by surveillance and the importance of end-to-end encryption, he advocates for vigilant democracy in the digital age.

Ian Forester, Head of Product at Abaxx Technologies, dives deep into the fascinating world of tokenization and decentralized identity. He clarifies the distinction between digitization and tokenization while emphasizing the crucial role of cryptography. Discussion highlights include the limitations of current digital identity models, the power of decentralized identifiers, and how cryptographic signatures ensure authenticity and non-repudiation in transactions. Ian also explores privacy solutions like selective disclosure, aiming for a future of personal property and market integrity free from centralized control.

Join Josh Crumb, Founder and CEO of Abaxx Technologies, who focuses on asset tokenization and digital identity, alongside Ian Forester, Head of Product, expertly blending cryptography and privacy. They dive into the crucial differences between tokenization and digitization, emphasizing the need for legal finality. Josh critiques retail-focused token models and highlights the importance of moving collateral swiftly in Asia. The duo also discusses the significance of an identity-first approach and the future of digital identity, shaping tomorrow's market infrastructure.

Mandy Rambharos, CEO of Verra, advocates for digital tools to enhance project transparency and traceability in carbon markets. She emphasizes the need for alignment between voluntary and compliance markets to reduce fragmentation. Sandeep Roy Choudhury, co-founder of VNV, highlights the urgency of scaling climate projects in Asia and Africa to meet net-zero targets, discussing the transition from theory to practical, actionable frameworks. Both guests explore the importance of collaboration and the risks of retroactive rule changes for project stability.

Dave Ernsberger and Mark Eramo, Co-Presidents of S&P Global Commodity Insights, share their insights on climate policy post-New York Climate Week. They discuss the shift towards a business-focused approach to climate action, emphasizing investment returns and capital discipline. Mark highlights the U.S. administration’s pragmatic stance on energy dominance, while Dave sheds light on global players like China and India in energy transitions. They explore how competition drives innovation and the ongoing commitment of companies to sustainability despite geopolitical shifts.

Hannah Hauman, Global Head of Carbon Trading at Trafigura, navigates the evolving landscape of international carbon markets. She discusses Article 6's impact on investment-grade credits, shaping compliance markets and attracting diverse buyers. Hauman highlights the importance of cautious investment behavior pre-regulation and anticipates a surge in capital flow as standardized registries emerge. The conversation covers how countries define climate ambitions, the balance between compliance and voluntary market evolution, and the crucial role of emissions reporting in shaping future trade.

Dirk Forrister, President & CEO of the International Emissions Trading Association, shares insights on the evolving landscape of carbon markets. He highlights the rapid expansion of national carbon markets in Asia and Latin America and discusses challenges posed by U.S. policy changes. Dirk emphasizes IETA's role in guiding market cooperation and the importance of harmonization ahead of the North America Climate Summit in 2025. He also addresses Brazil's innovative approaches to clean-fuel potential and regional leadership in carbon accounting.

We continue Catching Up On Climate this week by welcoming Alexia Kelly back into the SmarterMarkets™ studio. Alexia is Managing Director of Carbon Policy and Markets Initiative at High Tide Foundation. David Greely sits down with Alexia to discuss what's been happening beneath the quiet surface of the voluntary carbon markets in order to get them ready for prime time and unlock the institutional capital these markets need.