In this episode, Mike Townsend speaks with Morgan McKenney, the CEO of Provenance Blockchain Foundation, the leading public open-source blockchain for financial services, leveraged by over 50 financial institutions and operating at scale today with billions of dollars of digital financial assets transacted across lending, payments and marketplaces.
Prior to Provenance, McKenney spent nearly twenty years at Citi in a range of senior executive operating roles globally, most recently as Chief Operating Officer for Global Consumer Banking. With a career leading large payments businesses in the institutional business globally in Asia, Europe, Middle East, and Africa, McKenney partnered with banks, corporates, and governments to help them operate their business and enable real-time commerce. McKenney also successfully implemented two blockchain projects with NASDAQ and with Alibaba and Ant Financial, and managed Citi’s innovation lab in Singapore.
Host:
• Mike Townsend: https://www.linkedin.com/in/townsendmike/
Guest:
• Morgan McKenney: https://www.linkedin.com/in/morganhmckenney/
Episode Link:
• https://www.aroundthecoin.com/podcast/episode-423-morgan-mckenney-ceo-of-provenance-blockchain-foundation
0:00 Introduction: Morgan McKenney, CEO of Provenance Blockchain Foundation
1:32 Difference between working in Citi Bank and Having Provenance Blockchain now
3:19 Where Provenance Focuses and Its Role
6:20 Target Participants to use for Business Values
9:53 Where are Provenance now in terms of Scale?
11:44 Assets, Mortgages, Lendings, and Payments in Blockchain
16:21 Next-Gen Digital Factory in Finance
18:29 How does Restructuring Payments Landscape Affects the Banks?
21:35 Target Clients and Financial Web3 Services (FW3S)
22:04 Attributes of a bank or Fintech to make transactions in Blockchain
25:29 How does the foundation gets its money?
31:25 ‘Jack of All Trades’
33:18 How does Provenance Blockchain foundation helps Financial Institutions?
36:43 Banks adopting the innovation
39:41 Learning from Losses and Crashes
42:20 Stablecoins
46:18 Tether
50:32 Federal Government of the United States and People who are using Cryptocurrency
55:05 Printing Money and Inflation Rate
53:28 About Bitcoin
59:10 “I take inspiration in every conversation.”
1:00:44 Computer Science
1:02:02 Decentralized World can sometimes be dehumanizing
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