Andrew Haldane’s paper “Rethinking the Financial Network” is a stepping stone for anyone looking to reflect on systemic risks’ impact on the existing financial system. His argument reveals a couple of important aspects of this systemic problem but the one that stands up for me, is his point that the financial system is fragile precisely because it lacks diversity. All Street has been founded to make visible for our society the roadmap of financial system change and transformation; from a concentrated financial system towards an ecosystem of financial players.
Hence, following our raison d’être, a whole new set of questions arises. First of all, how do you support and develop the new alternative financial players that are already here? Is regulation the right tool to be used to mitigate associated risks? What is the desired future that we want to promote and what future state of the financial system we want to avoid? How do you build a proper governance structure for the new emerging system? What’s the right forum to engage with both traditional and alternative finance players so we can create an inclusive, independent and balanced collaboration?
These are some of our questions for the workshop with Andrew Haldane and we are looking forward to engaging more people in this conversation, Saturday, the 23rd of February when All Street organizes the Alternative Finance unConference. This event aims to bring people together to review the current state of the peer-to-peer finance and debate the associated economic and social opportunities and challenges. You can register for this event here: http://allstreetconversations.eventbrite.co.uk/