The CFA Institute published a blog debunking myths around blockchain and XBRL, noting: “The myth that blockchain could replace XBRL in the production of financial information is incorrect. Blockchain is not a data standard. And XBRL is not a distributed ledger system. Replacing one with the other would be like replacing the English language with […more]
Items tagged with "Blockchain"
Featured Keynote: FASB Chairman Russell G. Golden
Find out how data standards are disrupting the information ecosystem, how they can be leveraged, and where they’re heading.
Seating at this complimentary event is limited and advanced registration is required.
Both blockchain and AI have been suggested as technologies that should be considered instead of the XBRL data standard. But what are they, really? Can a technology replace a standard? Or is XBRL complementary to AI and blockchain?
SEC Commissioner Kara Stein gave an address to the Council of Institutional Investors named “Improving Information for Investors in the Digital Age”. Here are some notable quotes from the Commissioner: …Just a few weeks ago, a group of institutional investors, asset managers, state treasurers, and others petitioned the SEC. They asked the Commission to require […more]
SEC Launches Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. FinHub activities include: 1) Provide a portal for industry and the public […more]
SEC Commissioner Robert J. Jackson to Keynote XBRL Investor Forum, November 8, 2018, in New York City
SEC Commissioner Robert J. Jackson to keynote XBRL Investor Forum 2018: Powering Fintech, November 8 in New York City. The event is hosted by Baruch College’s Zicklin School of Business, with sponsorship by CFA Institute and CFA Society New York.
Featured Keynote Speaker:
SEC Commissioner Robert J. Jackson
Blockchain, alternative data, standards, legislative and regulatory changes are trends and developments affecting the capital markets today. Attend this half-day forum to get insights into these topics and more. Seating at this complimentary event is limited and advance registration is required. XBRL US Members are invited to attend our Annual General Meeting and Luncheon prior to this event.
XBRL US and ConsenSys, a blockchain technology company, announced the formation of a working group to develop standards for tokenization of assets on the blockchain. A token is a digital representation of an asset, e.g., debt, equity, cash or a physical asset (i.e. a vehicle or a piece of artwork).
Changes in financial data, e.g., debt coverage ratios or loan to value ratios, trigger the execution of loan covenants in the contract. If data standards are used, smart contracts can automatically update the blockchain with payable and receivable information. No human intervention is required.