ADGM's Pioneering DLT Foundations Regime

[Music] that's nice turnout um my name is Dimitri fatov I'm head of the foundation's oversight at adgm I'm thrilled to have you here um I'm not a great public speaker so I let AI lead the way uh in the beginning uh what you saw is an animation that was produced on the Fly um using a technology and uh obviously the uh the sound came from from nii model as well um what I'm going to talk about today is uh the new uh DT foundations regime that was introduced here in adgm just about 3 weeks ago um and its significance to the industry um as the AI just correctly mentioned um we um we have crafted this regime in order to provide a 360 degree home for uh blockchain protocols and uh any do enabled businesses here at uh adgm uh the regime is completely purpose-built uh it's uh completely free from any Legacy uh luggage that um um that exists out there in terms of Foundations um and it's more importantly it's um developed in collaboration with the uh industry experts uh it completely recognizes decentralized governments uh governance um and it empowers Community decision- making uh we uh realize in completely embrace the decentralized governance uh principles such as smart contract um enabled decision making token uh decision talken voting and um with this regime we are providing a very good and um very good Clarity in as a regulator to what can be done and um uh this enables us to to provide the industry with the tools necessary uh to develop um the technology such as um access to Capital Capital uh legal rappers for Dows uh and blockchain Foundations and U having basic things such as banking rails um I'll run through a couple of highlights of the regime there are many of them uh but uh how how is it different from let's say current jurisdictions such as Switzerland Malta Singapore um kment um so we recognize um the foundations is completely separate legal legal person uh they are recognized as self-governing self-governing structures uh we uh enable talken issuance um um for utility tokens and governance tokens um we support governance through smart contracts uh and we get give a lot of room for uh blockchain foundations and Dows to make their own rules uh uh to enable for example token voting on certain decisions if you have a a community or a token holder token holders who need to vote on a protocol change for example this is this is exactly what you need U and I challenge uh to find any other regime that would enable you to do so um we uh provide um um extensive support in terms of migration and establishing of satellites from um all possible different jurisdictions to adgm uh and uh I believe our um um up process is is very straightforward it's uh our commitment is to set up a foundation within of one month um whereas uh I as I've heard u in many jurisdictions it can take several years um and something that I'm really proud of is uh our commitment to um evolution of the regime uh we are in constant um dialogue with the industry participants uh such as BL uh blockchain uh protocols and layer ones sler TW Dows um Association of uh associations of um uh those um entities uh to develop this regime further to to update it as the industry grows um this this is a commitment that that we have made since the start of uh when we have started building this regime um many of you know that adgm is a very very vibrant jurisdiction uh it's not um an empty uh space we have a very a big amount of existing players here ranging from Banks to down to um Consulting houses and more importantly uh in this case um which I what I just see is not a traditional Finance but actually U New Age Finance um players like binance me chains Kraken Signum Matrix uh by the way the logos seem to be glitching it doesn't have any specific meaning why they are blurred out don't be alarmed um and today we are glad to announce the first uh blockchain Foundation that is registered in our regime uh one of the oldest foundations um and one of the oldest blockchain protocols out there Iota that is uh relocating from um Germany to SW to adgm with a seeding 100 million us worth of uh virtual assets here uh that are going to be locked here for four years uh and ating and hiring Personnel on site um um we have uh granted them license literally just before this session and uh I'm very excited about them um you will see Dominic who is the chairperson of the Iota foundation on the next um uh panel that is going to come up um and uh I would like to thank you for this I I tried to keep it very short and I hope I didn't bother you too much yeah thank