Bio: Dr. Bohn is the Chief Research & Innovation Officer and Head of Research & Engagement at the Swiss Re Institute. Most recently, he served as Chief Science Officer and Head of GX Labs at State Street Global Exchange in San Francisco. Before moving back to California, he established the Portfolio Analytics and Valuation Department within State Street Global Markets Japan in Tokyo. (He is fluent in Japanese.) He previously ran the Risk and Regulatory Financial Services consulting practice at PWC Japan.
Past appointments for Dr. Bohn include Head, Portfolio Analytics and Economic Capital at Standard Chartered Bank in Singapore and General Manager, Financial Strategies group at Shinsei Bank in Tokyo where he supervised implementation of best-practice risk and capital analytics. Before moving to Asia, he led Moody’s KMV’s (MKMV’s) Global Research group and MKMV’s Credit Strategies group.
Dr. Bohn often conducts seminars on topics ranging from credit instrument valuation & portfolio management to machine learning. He has published widely in the area of credit risk. He co-authored with Roger Stein Active Credit Portfolio Management in Practice (Wiley, 2009). His recent research focuses on reinforcement learning, causal inference, factor modeling, and large-scale risk simulations. Dr. Bohn is an affiliated researcher at U.C. Berkeley’s Center for Risk Management Research and serves as a board member for the Consortium for Data Analytics in Risk (CDAR) spanning U.C. Berkeley, Stanford and several industry partners. On occasion, he teaches financial engineering at U.C. Berkeley, National University of Singapore’s Risk Management Institute, and Tokyo University.
Title: Building foundations for Quantum Cities™: A deep dive into the challenges hindering deployment of trustless, scalable, decentralized networks (TSDNs)
Abstract: One important thread of research in progress at the Swiss Re Institute (SRI) is focused on understanding how cities & companies will engage with developing digital platforms. The interactivity & interoperability of these platforms are characteristics of digitally intelligent cities and foundational for SRI's cities-related umbrella research initiative called Quantum Cities™. These new digital platforms require development of trustless, scalable, decentralized networks (TSDNs.) These TSDNs will transform supply chain management, markets for data, the insurance value chain, and banking. Despite the promise of these TSDNs, many technical challenges remain unresolved that limit these networks' widespread deployment.
This presentation will start with a deep dive into the technical challenges that currently hinder widespread implementation of business-to-business, government-to-business, and business-to-government digital networks. Some challenges relate to technology while others relate to incentives that can sometimes prevent required scalability to a level that will support industry and process transformation.
Key challenges hindering widespread deployment of TSDNs include:
- Managing digital identity
- Implementing robust distributed ledger technology (DLT) protocols
- Deploying robust & at-scale-feasible encryption
- Developing machine-learning-compatible privacy-preserving data analytics
- Complying with heterogeneous data regulations
- Maintaining business-sustainable latency at scale
- Cultivating digital trust in a zero-knowledge, trustless network to support algorithmic contracts & useful derived analytics
- Facilitating an economic business model for platform/network owners & participants that is compelling and incentive compatible (i.e., all stakeholders’ incentives are compatible with robust successful operation of the platform)
Successful deployment of TSDNs will transform citizens, cities, companies, and governments. This presentation will also discuss how far TSDN-related R&D has progressed, the promise of the relevant foundational technologies, and how close we are to achieving this inevitable transformation.