Latest Inveniam Whitepaper responds to the Bundesbank's Report and Underscores the Need for Verified, Credentialed and Certified Private Data
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NEW YORK, March 16, 2021 /PRNewswire/ -- Inveniam announces the release of its fifth whitepaper, Inveniam Response to the German Bundesbank's "Money In Programmable Applications".
"If you have verifiable, credentialed data that is digitally certified and can be shared on-demand, then you have the building blocks for a transparent system where parties can transact seamlessly - whether they are friendly allies or fierce adversaries. Today, investors need an operating system for on-demand access to verified private data."
– Inveniam Response to the German Bundesbank's "Money In Programmable Applications"
Digitizing the global economy opens the door to new business models, fundamentally changing the way value is transferred around the world. But there is a chasm between the current reality and central bank forecast models. This gap is based on two viewpoints: 1) neglecting the role of private market assets, data, and the ability to commute value, and 2) the role governments and central banks play in the current debasement of government-issued currencies, which back much of the global economy.
The December 2020 Bundesbank report correctly identifies challenges of programable money but limits solutions to bank-managed oracles. Banks are expert managers of trusted money, but not trusted data.
"Trusted data is an essential prerequisite for all financial transactions," said Inveniam founder and CEO Pat O'Meara. "Data that can be referenced, is immutable, complete, and correct provides the foundation for more liquid private market assets. Crypto currencies are part of the response to the currency crisis, but the ability to transmit value will require this reference data on private assets."
The Bundesbank concludes that central banks are the only capable entities to commute trust within transactions. The Bundesbank says programmable money is "not suitable" for conventional payments because, "media disruption often leads to incorrect or incomplete reference data for the clearing process, which requires manual correction."
"Payment systems are developing outside historic channels of commerce through the use of new technology," said Inveniam President Kerry Rudy. "The most vital information among economic actors is not currency ledgers, but rather trusted data. Success or failure in commerce relies on data, in the private markets the need is for controlled access to private data, where the trust in the data can be commuted."
About InveniamInveniam is a Fintech company with offices in New York City and Northville, MI. Founded in 2017, Inveniam has built Inveniam.io, a powerful technology platform that utilizes Big Data, AI and blockchain technology to provide not only surety of data, but high-functioning use of that data in a distributed data ecosystem. When Verified by Inveniam™, users can obtain real-time pricing of private, infrequently traded assets, accelerate diligence, accurately price, and identify buyers for those assets. Inveniam's operating system credentials data to commute trust - allowing payments throughout the global financial system to thrive regardless of their place of origin, currency, or application.
About Inveniam Founder and CEO Patrick O'MearaMr. O'Meara began his career at Raymond James and Bear Stearns & Co. before founding his own financial advisory firm, building it into a niche leader for more than 14 years and employing over 80 finance professionals. Mr. O'Meara then served as Chief Investment Officer for the University of Mary, before founding Inveniam Capital Partners, Inc. in 2017.
About Inveniam President Kerry RudyMr. Rudy is a former investment banker with over 25 years of experience in tax-exempt debt capital markets. Prior to joining Inveniam, Mr. Rudy was Managing Director and Head of NFP Healthcare Investment Banking for PNC Capital Markets. Prior to PNC, he served as Managing Director and Head of NFP Healthcare Investment Banking for BMO Capital Markets. Previously, he spent over 19 years at Goldman Sachs and Lehman Brothers.
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SOURCE Inveniam Capital Partners
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