Partnership with accountable. I sat down with the company's CEO, Wojtek Pawlowski, to hear about the company's Digital Assets Forum, taking place on Wednesday. Take a look.
Welcome to FinTech TV. In the wake of historic market volatility and regulatory scrutiny, institutional digital assets are shifting from periodic audits to real time risk verification. Now powered by ZK, cryptography platforms are now allowing banks and asset managers to prove solvency as well as exposure without revealing proprietary positions.
Now, fintech firm accountable has already verified over $2 billion in assets, including Galaxy's $75 million tokenized CLO, and is prepping to gather industry leaders in Singapore ahead of Token 2049 while joining us to discuss real time institutional verification and also the upcoming definition forum is Vojtech Pavlovsky, who's co-founder and CEO of Accountable Capital.
Well, Vojtech, great to have you here. Thank you so much for joining us. I do want to start out with accountable. Having passed $2 billion in verified assets and powering projects like Galaxies Tokenize Silo and Volos Lending Vaults. So tell us how real time ZK proof of solvency replaces legacy quarterly audits?
And why are institutional prime brokers adopting this technology now?
Thank you for having me for this interview. Um, in general, we are not trying to necessarily replace auditors. There is a spot for, um, everybody in the industry. However, the crypto industry is very specific. So it it runs 24/7 real time and there is effectively no time or space for an update to occur after a month or a quarter and you need to act immediately, especially with regards to liquidation.
So we are basically providing a different clock to the equation with a different frequency. A software that runs on its own in the infrastructure of the counterparty, that enables them improving in real time all of the balances from the underlying exchanges, brokerage accounts and DeFi as well. And that's a complementary thing that is required basically for this industry.
And while I have you here, I do want to ask you about definition. So on October 7th in Singapore, accountable is hosting definition, which is an institutional digital assets forum with over 500 delegates. So why did accountable decide to host a dedicated forum rather than the standard large scale conference panel format?
I mean, I will tell you the official explanation for it, which is that we onboarded over 5050 institutions in the in the last couple of months to use the software and and join our network at the same time. And we wanted to basically give them a forum to be able to speak about their products or their experiences.
And and so what's coming next, um, for this maturing DeFi industry, at the same time, um, panels or networking events in general, um, became boring and people are usually going there to grab a drink and talk with fellow peers in the industry. Um, but nobody's really listening to so-called industry experts that are on the stage and are trying to share something.
And there is a reason for it as well, because the questions are generic and the answers are vague. And we wanted to create a place where you actually learn something. And the motivation came from the fact that I was participating in one of the panels in Cannes this year during FCC conference, and I got in a in a little bit of a disagreement with a fellow panelist, and then I thought it not going to be very well received by others, but it was quite the opposite.
Actually, after the event, everybody came to me. It was the most interesting panel that I that I ever attended to. And I was like, dang, is that bar really this low? So we don't want people to fight on stage? Don't get me wrong, but we want to ask questions that will actually provoke answers that people are counting on because we want how we want to know how this business works in practice.
Yeah. And you bring up an important point when it comes to some of these large scale events. And I understand that you're going to be moderating a curator panel which does feature executives from Galaxy Chain Link, Bitwise and Gantlet. So what do you think are the most urgent risk management conversations that should be taking place?
And where are those institutional allocators drawing hard red lines?
Yeah, that's the big thing right. The word curation. It's not very well understood in the industry. And even though I'm very close to that business, I still don't know what these guys, no offense, are sometimes doing. Right. Like, what are the underlying systems that they are running? Are there any systems in reality or this is just, you know, clicking a couple of buttons here and there.
So this is what I'm going to be asking the industry leaders on that front. That's why we brought them together. So we can clearly differentiate how these people operate on a on a daily basis and what are actually their limits, if any. Right. Because, uh, you know, uh, we differentiate curators by having a lot of money effectively, um, with them as part of their eOne.
But is it just money that differentiates them and the power to do more, or is it because they are best in class specialists in their fields to manage risk on behalf of others? And this is what we will try to find out soon.
Yeah. And, Vojtech, I understand that a cannibal is preparing to announce its next chapter at the definition event. So what is the next milestone for accountable as ZK verification expands across DeFi as well as trad fi?
Um good question. So the verification was our first step. So after 2022 when people completely lost the trust towards crypto, uh, crypto lending as well for the right reasons, given the amount of blow ups in the space and that every everybody was a black box, we wanted to clean up this mess and basically give people means to prove what they are doing with other people money effectively.
Once that trust was somewhat established, and we took the industry from being a black box to some sort of level of transparency, you need to double down on it and provide people with more services that get closer and closer to the truth. I cannot reveal too much, but because that's reserved for the definition event, obviously.
And we and we want to leave something for there. But you can expect that what you know, accountable from was that just purely the beginning of the equation. And um, we will be all around service where if you have a business, if you have a strategy, you want to launch it on chain, you will come to us and will take care of it end to end, by all means possible.
And Wojtek, finally, before I let you go, definition, we'll be bringing together C suite executives at Capital Spring in Singapore on October 7th. So how can institutional investors, as well as enterprise, build out teams attend? And of course, what is the primary takeaway you want delegates to leave with?
Um, the application is very simple. You can go to definition dot global, our website, and basically apply the website called Luma to attend the event. We are pretty lenient with, uh, approving, uh, approving guests. So if you are supposed to be there, you definitely should come. You will be accepted.
We have over 1500 signups at the moment. The capacity is for more than 600 people. Uh, so given that the event is spanning over the whole day, um, will manage. So the demand has been tremendous. People want to know the truth about the industry and what's coming next. We are there to give it to all of you.
Well, Vojtech, we will have to leave it there. But the countdown is on until October 7th. So thank you so much for joining us today.
My pleasure. Thank you and see you soon in Singapore.
