The challenge:
Our challenge is positioning Polkadot as the preferred network of chains for digitizing financial assets and similar real-world assets amidst growing interest in and advancements by major institutions such as BlackRock, JP Morgan, Barclays, and Citibank in blockchain technology and tokenization.
With the growing interest from major institutional players such as BlackRock, JP Morgan, Barclays, and Citibank, it is crucial for Polkadot to position itself as the preferred blockchain for the digitization of financial assets. BlackRock has notably expanded into digital assets, recently launching its first tokenized fund on the Ethereum network. Robert Mitchnick, BlackRock’s Head of Digital Assets, stated, "This is the latest progression of our digital assets strategy... We are focused on developing solutions in the digital assets space that help solve real problems for our clients" (Yahoo). Additionally, BlackRock’s CEO highlighted the strategic shift towards blockchain, affirming that the "next generation for markets" will pivot towards the tokenization of securities (Decrypt).
The launch of BlackRock's tokenized fund further underscores this commitment, drawing an impressive $160 million in the week since its debut, demonstrating significant market interest and the viability of such innovations in mainstream finance (BNN).
Similarly, Citibank is actively exploring the tokenization of private markets. In a recent collaboration with Wellington Management and WisdomTree, Citibank has announced its initiative to explore blockchain technology for improving access and efficiency in private market transactions. This effort aims to leverage blockchain to streamline processes and reduce costs, thereby enhancing the attractiveness of private market investments and making them more accessible to a broader range of investors. (Citi)
Adding to this momentum, Barclays has also entered the arena, joining forces with other banks to test tokenized deposits in the UK. This initiative is part of a broader effort to modernize the financial infrastructure through blockchain technology, which Barclays believes will bring enhanced efficiency and security to financial transactions. (Business Times)
An increasing level of discussions on platforms like LinkedIn also reflect significant interest in blockchain’s capabilities to facilitate activities such as the tokenization of financial assets and cross-border transactions.
Broadening the Scope Beyond Financial Assets
The potential of blockchain extends far beyond traditional financial applications, touching various sectors of real-world assets (RWA) that include sustainability, carbon markets, food and beverage, and more. The technology is being leveraged to create more transparent, efficient, and accountable systems across these diverse fields:
Sustainability and Carbon Markets: Blockchain's role in environmental sustainability is increasingly critical, with platforms now enabling more transparent and accountable carbon credit markets. For example, blockchain technology is used to issue and manage carbon credits, providing a transparent and efficient system for decarbonization efforts (Ripple) (MDPI).
Food and Beverage Industry: In the food sector, blockchain facilitates traceability from farm to table, ensuring product authenticity and enhancing consumer trust. This technology provides an immutable record of the food supply chain, from production to retail, helping to ensure ethical practices and sustainability (UNCTAD) (IBM - United States).
Renewable Energy: Blockchain also supports the transformation of the energy sector by enabling peer-to-peer energy trading. This application democratises energy distribution, allowing individuals to buy and sell energy directly from each other, thus promoting the use of renewable sources and contributing to a more sustainable energy landscape (Consensys).
This broad array of applications underscores the transformative potential of blockchain across various sectors, highlighting the need for strategic initiatives to ensure its integration into these critical areas of the economy. As blockchain technology matures, its capacity to revolutionize traditional systems and establish new paradigms for managing and transacting real-world assets becomes increasingly evident, presenting a compelling opportunity for platforms like Polkadot to lead this evolution.
How we would like to help:
We hunt as a pack, an approach that has caught some amazing projects.
Ben Sheppard and Stanley Boots are uniquely positioned to spearhead the adoption of Polkadot within the financial sector, multilateral development banks and beyond, for novel applications of blockchain to broader real-world asset use cases. Their extensive backgrounds in both traditional finance and cutting-edge blockchain technology equip them with the necessary skills and perspectives to navigate and lead in this transformative landscape.
Ben Sheppard brings over two decades of experience in public-private partnerships and technology. He has led numerous global infrastructure projects and transitioned into technology with significant impacts. Notably, his role in projects such as Tracey, which utilized blockchain to capture fish catch data for financial assessments of fisherfolk, underscores his innovative problem-solving capabilities. Additionally, his work with major foundations such as the Bloomberg Philanthropies and Rockefeller Foundation to develop fisheries projects in General Santos highlights his strategic execution skills in high-stakes environments. At Silta Finance, Ben's leadership in integrating AI and blockchain solutions demonstrates his ability to bridge complex technological solutions with practical financial applications. A top 10 global development bank recently backed Silta to build Silta’s sustainable financing platform.
Stanley Boots sees the world differently, and it works. He has shaped a 25-year legal career as a leading project finance lawyer in SE Asia to pursue his passion for climate finance, circular economy and sustainable development. In 2003 he launched one of the first climate change practices amongst the international law firms which led him to close over 100 carbon deals in 5 years, while still leading a robust trad-fi practice. More recently he founded an award-winning craft brewery that is incorporating web3 technology and and co-founded Silta Finance with Ben Sheppard. Stanley’s skills lie in connecting the dots across complex projects and formulating new, outside-the-box business structures. It is with this mindset that Stanley seeks to support the Polkadot ecosystem to position it as a go-to platform for real world asset and green financing. Stanley is now pivoting a regional law firm to become the thought leader in the nexus of emergent technology and green financing.
Together, Ben and Stanley not only understand the language of financial institutions but also master the transformative vocabulary of Web 3, enabling them to effectively merge these two worlds. Their deep industry connections provide Polkadot with crucial entry points into established financial institutions, enhancing the platform’s credibility and positioning in collaborative ventures.
By leveraging their proven track records and strategic insights, Ben and Stanley are ideally suited to lead initiatives that position Polkadot at the forefront of financial digitization and extend its impact into sectors like sustainability, oceans, and the global food and beverage supply chain. Their partnership offers not just technological expertise but also a strategic pathway into the core of multiple industries, ensuring that Polkadot's technology is not only adopted but also effectively utilized to revolutionize both financial infrastructures and other critical sectors of the economy. This dynamic synergy enables Polkadot to navigate the complex interplay of finance and technology, driving innovation and adoption in sectors ripe for transformation.
What we will do:
To effectively capitalize on the opportunities for integrating Polkadot in the realm of Real World Assets (RWA), especially focusing on financial assets, infrastructure, real estate, food & beverage (F&B), healthcare sustainability, and regulation, here is a structured plan of action for what we will do:
Establishing Thought Leadership:
Ben Sheppard and Stanley Boots will position Polkadot as a leader in blockchain for RWAs, particularly in financial assets, infrastructure, real estate, and sustainability sectors. Through regular contributions to industry publications and speaking engagements, they will highlight Polkadot’s capabilities and benefits. Key themes will include detailed case studies and success stories that showcase Polkadot's impact in these areas, helping to cement their status as experts and elevate Polkadot’s profile within key industries.
Engagement through Digital Media:
They will host and participate in panel discussions, interviews, webinars, short-form educational videos and podcasts to disseminate knowledge about the transformative potential of blockchain in RWAs. Additionally, launching a dedicated podcast show akin to "Masters in Business" but focusing on the tokenization of RWAs will provide an educational narrative that strengthens the Polkadot brand as a responsible and sustainable blockchain solution. This podcast will feature guest speakers from diverse industries and include live Q&A sessions to engage with the community interactively.
Content Creation:
Writing informative and educational blogs will be crucial. These articles will explore various aspects of RWA and blockchain integration, aiming to educate a broad audience about the benefits and intricacies of using Polkadot in different sectors. Additionally, the creation of whitepapers, case studies, and short-form video content will enhance Polkadot’s educational outreach and digital presence.
Acting as a Conduit for New RWA Players:
Ben and Stanley will facilitate the entry of new players looking to leverage Polkadot for tokenizing their assets. They will provide a clear roadmap or toolkit detailing the steps to tokenization, including workshops and webinars to guide businesses and entrepreneurs through the implementation of blockchain solutions effectively.
Community Building and Support:
In Vietnam, Stanley will lead efforts to build and maintain a strong community presence for Polkadot. This includes supporting Head Ambassadors and Polkadot Business Development personnel in community engagement activities. In Spain and the Philippines, Ben will lead and support business development efforts, fostering partnerships, managing bids, and strengthening community ties through active participation and leadership in local blockchain initiatives.
Partnerships and Collaborations:
Developing strategic partnerships with financial institutions, technology firms, and sustainability projects will be key. These partnerships will be crucial in demonstrating the practical applications of Polkadot in RWA markets and will facilitate deeper market penetration. Additionally, setting up a recurring forum or roundtable with partners will facilitate ongoing dialogue and co-innovation, continuously assessing market needs and feedback to ensure Polkadot remains responsive and innovative.
Novel Use Cases:
A core strength of our team approach is the ability to identify and flesh out new business models to achieve larger goals. We did this by developing a novel business model underlying the Nexus Blue fishery PPP model. Had we had access to web3 technology in those days, this project would likely have become a blue use case for tokenizing traceability in the tuna industry. Our team has unparalleled access to upcoming sustainable financing, throughout work with a major multilateral development bank. For this client we are already scoping a real world asset marketplace which will require an efficient chain to tokenize environmental assets of the projects on the marketplace. We anticipate delivering exciting and impactful new use cases for the Polkadot ecosystem.
Reporting
We will provide monthly progress updates detailing the work completed, addressing any concerns or roadblocks, and outlining the next steps.
Fees
The fee for our services is USD 10,000 per month for 6 months. With an additional expenses budget of 15,000.
Item
Amount USD
Professional services
60,000
Expenses
15,000
VAT 21%
Total USD
90,750
Division of Fees
Percentage
Ben Sheppard
36,300
40%
Stanley Boots
36,300
40%
Rob Homes
18,150
20%
Ben and Stanley will lead the project. During the discussion thread period, we also engaged with Rob Holmes, and decided to include him within the proposal. We know Rob very well, having worked together on many occasions in the past, and he can bring a lot of value to this initiative across multiple sectors, particularly the healthcare and infrastructure sectors. His profile, and a brief description of some of the ways blockchain is being leveraged in the healthcare sector, is provided below:
Rob Holmes brings over half a decade of multi-sector experience in the digital assets space, coupled with a passion for pushing technological boundaries. As a Co-founder and COO at Agora Labs, a startup scaling a health data sharing platform that leverages Generative-AI, NLP, Federated Learning, blockchain and Privacy Enhancing Technologies including Multiparty Computation and Differential Privacy, he has demonstrated his ability to devise compelling value propositions, innovative business models, and partnerships frameworks for complex technologies that go beyond the state-of-the-art. Prior to his work with Agora Labs, Rob was Head of Partnerships at Silta Finance. During this time he was instrumental in identifying and nurturing early adopters of Web3 in the traditional infrastructure sector, forming 20 partnerships with sustainable infrastructure asset developers seeking project finance through DeFi. He has a steep background in the infrastructure sector, where he spent the first 10 years of his career advising national highway authorities in the UK on the Operations & Maintenance of highway networks and associated technology assets.
Stakeholders in the healthcare sector are beginning to recognise the advantages of blockchain. In the pharmaceutical supply chain, blockchain ensures drug traceability from production to the consumer, reducing counterfeit risks and boosting trust (See FDA DSCSA Pilot Project Program which included projects piloting blockchain for traceability). For Real World Data assets like patient medical records, distributed across clinical & research centres and across geographies, or personal health & wellness information collected within personal data management apps, blockchain enables secure access management and a transparent and immutable record of data transactions between data custodians and data users (see Agora Labs).
Polkadot is trying to be the top choice for using blockchain technology to digitize financial and real-world assets. Here are some key points: