At the end of 2023, we launched a pioneering Blockchain Experimentation in the primary debt markets. With our motivated users, we are exploring the potential of public blockchain technology across the entire debt issuance lifecycle.
In this interview, Onbrane’s Blockchain engineer Foulques Pellabeuf shares his working methods, discussing technology choices behind the experiment and industry-specific challenges he tackles with Onbrane’s dev team.
1. To begin, tell me a bit about yourself!
Hi, I am Foulques, a blockchain engineer working at Onbrane. Technology has been my passion from a very young age, and I have always been driven to push the boundaries of innovation to shape a better future.
My journey into the crypto ecosystem began in 2017. Early on, I realized that decentralization was the key missing element in many technological advancements.
I focused my attention there, convinced that this approach offered immense opportunities to improve transparency, security, and fairness across various domains.
Over the years, I’ve had the opportunity to work on a variety of blockchain projects. Most notably, I’ve contributed to non-fungible token (NFT) platforms, providing unique experiences in digital ownership and art, while exploring the implications of decentralized finance (DeFi).
2. Why did you choose a career path in Finance on blockchain?
The realm of finance stands as the pinnacle of intrigue for me within the sphere of blockchain. It is in this domain that the potential for blockchain technology captivates me the most.
I firmly believe that blockchain and decentralization offer endless prospects to transform existing financial systems.
Witnessing the transformative impact these innovations can have on economic structures solidified my commitment to be a part of this restructuring and rebalancing landscape.
3. As you mentioned, the use of blockchain technology in finance has a lot of potential.
It is also true that many different blockchain initiatives have already been introduced to the industry.
With this in mind, why did you choose to work on Onbrane’s Blockchain Experimentation?
The Onbrane team’s forward-thinking approach to creating impactful solutions and making end-users an active part of the process resonated with my passion for pioneering technological advancements.
The company’s strategic choice to leverage public blockchain, coupled with its emphasis on data privacy through advanced cryptographic techniques, showcased a thoughtful and progressive approach.
On top of technological choices, the way the Onbrane team decided to conduct the Blockchain Experimentation is also different from what I’ve seen on the market so far.
Instead of doing one more proof-of-concept transaction and capitalizing on the built-in powers of blockchain technology, we have developed a simulator, shadowing real transactions in a virtual blockchain environment.
This way, we are able to explore and showcase blockchain technology’s extended potential to facilitate debt issuances from negotiation to settlement.
4. In the context of the CP market, what challenges or constraints have you encountered in your work, particularly concerning the integration of different technologies?
The foremost challenge I’ve encountered, particularly concerning the integration of different technologies, lies in adapting blockchain technology to meet the demands and constraints of the commercial paper market.
Incorporating blockchain into existing systems while aligning it with market requirements has proven to be a significant hurdle. This involves reconciling the innovative yet sometimes rigid nature of blockchain with the dynamic and varied needs of different market sectors.
In our pursuit of leveraging blockchain technology, we made the deliberate choice to opt for public blockchains.
This choice stands as the optimal technological approach for us as these public blockchains have stood the test of time, benefit from greater resources, and allow us to focus primarily on the application layer (This is what we’ve always excelled at).
In response to this public nature, we’ve developed and integrated a robust privacy layer thanks to cryptographic primitives like zero-knowledge-proof and homomorphic encryption.
This layer ensures the confidentiality and security of our client’s data, enabling the coexistence of the open and immutable aspects of public blockchains with programmability.
Adapting blockchain protocol to meet the stringent demands of existing and future legal frameworks and ensuring alignment with market requirements is a complex task.
As our simulator involves data privacy, it necessitates meticulous consideration for adherence to regulatory constraints. At Onbrane, we’re privileged to be working with our motivated users on the Blockchain Experimentation.
This allows us to find solutions together to ensure the successful integration of blockchain within the commercial paper industry while adhering to legal requirements and industry standards going forward.
5. Finally, what is the belief that drives your work style?
My aim is to serve as a catalyst, constantly propelling the boundaries of technological advancement.
I believe in creating applications and protocols that not only break new ground in innovation but also contribute significantly to the establishment of a more fair, transparent, and resilient ecosystem within the realm of blockchain technology.
It guides my work ethos by not only pursuing technological breakthroughs but by also ensuring that these advancements serve the greater good, fostering an environment that is not only cutting-edge but also fair, transparent, and adaptable to the dynamic landscape of the digital world.
