• Kay suggested adding an item on how Covid19 has brought urgency of such dematerialization, referring to relevant publications by ICC, e.g. G20 open memo for SOPs for Banks.
• Lance suggested to remove Covid19 item, explaining that papers are normally written not linking to any specific time and should be timeless and not requiring updating of references.
• Miriam and Tim opined it can be mentioned as a factual recent developments for context, in terms of efficiency and resilience.
• Manuel seconded Miriam and Tim’s comment.
• Tahseen enquired the reason behind the mention of distributed and centralised registry.
• Kay explained by referring to the usage of the terms at ToC item 4 - 2 Technical Methods.
• Tahseen enquired if legal requirements (e.g. multi-jurisdiction, mutually recognition/acceptance) are covered in the document.
• Miriam shared the paper is looking technically, the requirements of MLETR, recognition could come from a country adopting the Model Law.
• Miriam suggested to mention when a country adopts the Model Law, they should also check if there are other barriers which are not resolved by adopting the Model Law, e.g. an explicit expressed exception to the recognition of private registry.
• Manual seconded what Miriam suggested.
• Kay reminded from an earlier discussion on the topic who the paper is meant for, from practitioners to regulators, while some might not be so tech-savvy, but what the paper will bring, is a blend of what the lawyers had intended and what the tech folks believe the technical methods that will satisfy the requirements (of the MLETR).
• Kay suggested to put the topic of G2G Mutual recognition under ToC item 5-Implementation considerations.

• Kay requested an opinion on “Other reading materials".
• Lance suggested to list them as reference in footnotes.

• Kay covered ToC item 3.

ToC item 4

• Kay covered ToC item 4.
• Miriam suggested to use “Distributed Ledger” and “Centralised Database”.
• Miriam added another reason to list the 2 different types (Distributed ledger and Centralised database) as bulk cargo usually uses centralised database while containerised could opt for distributed ledger.
• Simone also supported on having the centralised database being mentioned as it is in use currently, and omitting it might lead to a gap suggesting they were no longer acceptable and is not what the paper wants to say.