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Recent articles

"Chance only favours the mind which is prepared" - Louis Pasteur. ​ Pasteur was, in many senses, a practioner of Foresight. ​ The revered French chemist and pharmacist said this in 1854, during his tenure as Dean of the Faculty of Sciences at Lille. ​ When a person or organisation is prepared, they are more likely to recognise and act upon unexpected opportunities that arise. ​ Opportunities and lucky breaks are thus most likely to be seized by those who are well-informed, knowledgeable, and actively looking for them. ​ In essence, failure(s) has its own value as it can (and must) be learned from - with preparation and awareness are key to capitalising on chance events when they arrive. ​ The theoretical implications and practical importance of Pasteur’s wide body of work were immense - having positive impact in a number of scientific fields long after his own demise. ​ Throughout his life he was an immensely effective observer, readily integrating relevant observations into conceptual schemes. ​ He firmly believed that significant discoveries were often the result of a combination of diligent research and being open to unexpected observations - in effect, spotting change(s). ​ Foresight is all about navigating change: anticipating how the future might unfold, and crafting strategies that enable organisations to be ready whatever happens. ​ Tomorrow is the child of today: therefore...what is it today that you will wish tomorrow that you had done yesterday? ​ That might sound like a riddle, but it's designed to make you think and ask if you are adequately prepared to take advantage of and respond to what might come next. ​ Our world today is one where the unthinkable happens more frequently, and the pace and direction of change continues to increase. ​ As for the future - that is yet to be written. ​ Message us to get started on your journey to being prepared for the top emerging technology trends of tomorrow, today.

Up to $37 Billion stolen. ​ This is the amount taken in South East Asia alone by scammers in 2023 according to a report late last year from the United Nations (UN). ​ Despite increased law enforcement efforts, cyber crime syndicates are intensifying their lucrative operations in the region which is becoming something of a worldwide hub. ​ Organised crime groups are hungrily adopting a wide spectrum of cutting-edge tech. ​ The technologies being embraced into their operations include deepfakes, malware, and - inevitably - generative Artificial Intelligence (AI). ​ Asian-based trans-national nefarious enterprises have integrated new service-based business models while establishing new underground markets and cryptocurrency solutions for their money laundering needs. ​ Leveraging these digital advances, criminal gangs are producing larger scale and harder to detect fraud, money laundering, underground banking and online scams. ​ The paper from the UN Office on Drugs and Crime (UNODC) specifically calls out the prevalence of Telegram Messenger, which has close to 1 billion users globally. ​ This is because hacked data including credit card details, passwords and browser history are openly traded on a vast scale on the app which has sprawling channels with little moderation. ​ Among the digital scams in-play include romance-investment schemes, crypto fraud, money laundering, and illegal gambling. ​ Getting a little more physical, the report notes that casinos, hotels and special economic zones are among the property developments that have “become hubs for the booming illicit economy". ​ Major organised crime groups are moving, laundering, and integrating billions in criminal proceeds into and out of the financial system without accountability. ​ It's not just last year either; there was >600% increase in mentions of deepfake-related content targeting criminal groups in Southeast Asia across monitored online platforms in the first half of 2024. ​ No matter where you are in the world - physical or online - organised criminals are converging and exploiting vulnerabilities: the evolving situation is rapidly outpacing governments’ capacity to contain it. ​ If you wish to look it up, the report is titled: Transnational Organized Crime and the Convergence of Cyber-Enabled Fraud, Underground Banking, and Technological Innovation: A Shifting Threat Landscape. ​ Be especially careful and vigilant out there - this cyberfraud trend will only continue in future as more of our life in spent digitally connected.

Institutional Custody: whilst this might sound like something to do with law enforcement, the primary responsibility of a custodian is ensuring the security of assets. ​ In finance, a custodian bank is an institution that holds customers' securities for safekeeping to prevent them from being stolen or lost. ​ Custodians tend to be large and reputable firms, providing third-party assurance for counterparties in a given trade. ​ Employing a third-party custodian introduces an additional layer of protection, often accompanied by insurance coverage against asset loss or theft (see previous piece, above). ​ This also maintains confidence in the system more broadly, especially when the assets need to be cleared and settled properly, including meeting various regulatory and accounting procedures. ​ When said securities were always physical - paper bonds, gold bars - this meant storing them securely in a safety deposit box or vault. ​ In our evermore digital realm, things get a little more complicated - but custodians are no less important. ​ When it comes to digital assets, forward-thinking parties recognise the value of custodianship in fortifying the security of holdings. ​ Reliable and secure methods for leveraging digital assets is arguably more important, as the expectation from all parties is to be physically separated yet benefit from effectively instantaneous market trading. ​ OKX, one of the largest digital asset exchanges globally, is partnering with Traditional Finance (TradFi) stalwart Standard Chartered Bank (SCB) to be the digital asset custodian of its institutional clients. ​ This is a move all about wider market reassurance. ​ Teaming up with a reputable bank serves two key purposes: it allows institutional clients to separate trading from custody, as well as bridging the gap between crypto and TradFi. ​ SCB is one of the first Global Systemically Important Banks (G-SIBs) to embrace digital asset custody. ​ In doing so, it not only helps to shape the modus operandi of the market but acting as an intermediary also lends digital assets both credence and credibility. ​ Generally speaking, custodians also offer services to ensure adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations for each asset owner - crypto holdings need not be treated any different. ​ Institutional Custody services for digital assets can cover security risks (cyber breaches), regulatory risks (audit and compliance), and also operational risks (backup of private keys). ​ This partnership, if successful, will likely further enhance and accelerate institutional engagement in digital assets such as crypto - especially with the price of Bitcoin skyrocketing following recent US elections. ​ No doubt more regulatory scrutiny is ahead (which is positive and necessary), but this remains indicative of a near-term future where digital assets are fully integrated within the TradFi ecosystem.

Thank-you for reading and being part of our community - we trust you find these original pieces on emerging technology and digital innovation useful, valuable, and thought-provoking as we bridge the gap between today and what future tech might bring tomorrow in Plain English.

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