Institutional FX Blockchain Firm SETL Appoints Martin Clements to its Board

SETL, the London based financial blockchain specialist, has appointed national security expert Martin Clements CMG OBE to its board. He joins the SETL board having recently retired from his role as Director General responsible for Technology and Transformation at the UK Foreign and Commonwealth Office.

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This followed a career focused on national security issues and capabilities, serving in the Middle East, South Asia and Europe. For the last decade, Martin was Senior Information Risk Owner, in charge of managing technical risk and other vulnerabilities to strategic information systems in the most testing of circumstances. He has extensive experience in transforming of some of the UK's most sensitive technical systems and securing them against cyber and insider threats.

Peter Randall, SETL’s CEO, said: “We are in no doubt as to the importance of system resilience and cyber security in the Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and settlements world and the appointment of Martin is an indication that SETL will deal with these matters at board level. We are extremely pleased to welcome Martin to our board and expect to benefit from his very long and deep experience in security and the management of strategic information systems.”

Sir David Walker, Chairman of SETL and former Chairman of Barclays Bank, commented: “In building a team which can credibly offer innovation in payments and settlements, it is important to establish a culture of diligence and awareness of cyber security from the start. Martin’s career in government has been about implementing that at the highest level. We are thrilled to have him on our board and believe that it further strengthens our ability to deliver innovative and robust Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term solutions to the market.”

SETL was launched in July 2015 to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology. The SETL system will enable market participants to move cash and assets directly between each other, facilitating the immediate and final settlement of market transactions.