{"id":4266,"date":"2019-03-18T09:55:57","date_gmt":"2019-03-18T08:55:57","guid":{"rendered":"https:\/\/www.newmoneyreview.com\/?p=4266"},"modified":"2019-03-19T10:40:46","modified_gmt":"2019-03-19T09:40:46","slug":"all-eyes-on-the-blockchain-summit","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/","title":{"rendered":"All eyes on the blockchain summit"},"content":{"rendered":"

Several blockchain initiatives aiming to reform the system of ownership for the world\u2019s share and bond markets have just hit road bumps<\/a>. One project, SETL, has said it is putting its blockchain-focused central securities depositary (CSD) up for sale<\/a>. <\/em><\/p>\n

Do these developments signify a long-overdue end to blockchain hype? Or is the technology\u2019s long-term promise still intact? New Money Review asked Myles Milston, chief executive of Globacap, a blockchain capital-raising platform, to comment on recent developments.<\/em><\/p>\n

New Money Review: Myles, why are central securities depositaries (CSDs) so important?<\/strong><\/p>\n

Myles Milston:<\/strong> They are a vital part of the existing financial market\u2019s infrastructure. And we\u2019re not going to see a lot of secondary trading in blockchain securities until there\u2019s a CSD capable of hosting them.<\/p>\n

NMR: Why is that?<\/strong><\/p>\n

MM:<\/strong> In Europe, the CSD Regulation (CSDR) says you can\u2019t have trading in a transferable security, as defined by the Markets in Financial Instruments Directive (MiFID), unless it\u2019s on a multilateral trading facility and the register of ownership of that security is held at a CSD.<\/p>\n

In other global securities markets, such as those in the US and Asia, there are similar requirements for a CSD to be in place.<\/p>\n

Transferable securities, according to Europe\u2019s MiFID definition, include publicly traded company shares, bonds and derivatives.<\/p>\n

So in order for a blockchain security to be traded in a public market, there needs to be a CSD capable of holding that security.<\/p>\n

NMR: Why should holding blockchain securities be a problem for CSDs?<\/strong><\/p>\n

MM: <\/strong>In theory it shouldn\u2019t be. But CSDs, by their nature, are extremely risk-averse entities. So they are understandably resistant to change regarding their ownership databases and the security of those databases. Blockchain securities are a relatively new concept and it\u2019s going to take some time for CSDs to become used to them.<\/p>\n

\"\"<\/p>\n

Myles Milston<\/em><\/p>\n

NMR: When we interviewed you in November<\/a>, you told New Money Review readers that Globacap had issued its own equity onto a blockchain. So presumably this was not a transferable security and you didn\u2019t need a CSD?<\/strong><\/p>\n

MM: <\/strong>Yes, as long as it\u2019s a private instrument and is not listed on an exchange, there is no requirement to comply with CSDR.<\/p>\n

NMR: And hence the interest among blockchain enthusiasts in starting their work by tokenising other private assets like real estate, commodities, private equity and so on?<\/strong><\/p>\n

MM: <\/strong>Yes, for private assets, blockchain has the advantage of helping to transfer ownership quickly\u2014in seconds, rather than weeks. That\u2019s a huge advantage.<\/p>\n

For publicly listed assets, which can already be traded at speed, the efficiency gains are not as obvious or immediate. But they are there, nevertheless.<\/p>\n

We need to get to a point where these blockchain securities become public and can then be traded. To get there, certain bits of infrastructure need to be in place.<\/p>\n

“To switch things off just as you cross the line doesn\u2019t make sense”<\/p><\/blockquote>\n

NMR: Let\u2019s look forward ten or twenty years. Right now the existing market infrastructure is edging towards blockchain, often through pilot projects involving consortia of banks, exchanges and CSDs. But at the other end of the scale we see anarchic experiments with unregulated capital issuance and crowdfunding, such as last year\u2019s initial coin offering (ICO) boom<\/a>. How are these trends going to converge, if at all?<\/strong><\/p>\n

MM: <\/strong>There are also vertically integrated models like that of the SIX Swiss exchange, which owns its own exchange, clearing house and CSD. They are building out a blockchain securities solution and I expect SIX to be one of the first entities to make this functional.<\/p>\n

Looking more broadly, I expect more and more private assets to become more tradeable in the sense of becoming easier to transfer. Then I expect us to move to a world where all of the administration of asset ownership, such as the management of corporate actions, distributions and so on, becomes hugely more efficient.<\/p>\n

As part of this trend, some of the layers of the existing post-trade infrastructure are therefore likely to be removed. CSDs will remain, but other intermediaries like transfer agents may no longer be necessary.<\/p>\n

NMR: What was your reaction to SETL\u2019s recent announcement<\/a> that it entering administration and seeking an external partner to finance its CSD?<\/strong><\/p>\n

MM: <\/strong>I was surprised. SETL\u2019s subsidiary, ID2S, was the first new entity to receive regulatory approval as a CSD for quite some time, plus it is focusing on blockchain solutions.<\/p>\n

Achieving CSD status is not at all easy. I\u2019m sure SETL must have had their internal reasons for this decision, but from an outsider\u2019s perspective, to go through all those steps and switch things off just as you cross the line doesn\u2019t make sense.<\/p>\n

Want to receive New Money Review’s monthly content updates?\u00a0Sign up here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Several blockchain initiatives aiming to reform the system of ownership for the world\u2019s share and bond markets have just hit road bumps. One project, SETL, has said it is putting […]<\/p>\n","protected":false},"author":4,"featured_media":4264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1013,1053,1026],"tags":[1080,1198,1375,1274,1275,1273,1211],"class_list":{"0":"post-4266","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-account","8":"category-featured-1","9":"category-latest-slider","10":"tag-blockchain","11":"tag-csd","12":"tag-csdr","13":"tag-globacap","14":"tag-mifid","15":"tag-myles-milston","16":"tag-setl"},"yoast_head":"\nAll eyes on the blockchain summit - New Money Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"All eyes on the blockchain summit - New Money Review\" \/>\n<meta property=\"og:description\" content=\"Several blockchain initiatives aiming to reform the system of ownership for the world\u2019s share and bond markets have just hit road bumps. One project, SETL, has said it is putting […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/\" \/>\n<meta property=\"og:site_name\" content=\"New Money Review\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-18T08:55:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-19T09:40:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"933\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"New Money Review Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newmoneyreview\" \/>\n<meta name=\"twitter:site\" content=\"@newmoneyreview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"New Money Review Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/\"},\"author\":{\"name\":\"New Money Review Staff\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/34c47dea9161c6b33d0ca38dc5972730\"},\"headline\":\"All eyes on the blockchain summit\",\"datePublished\":\"2019-03-18T08:55:57+00:00\",\"dateModified\":\"2019-03-19T09:40:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/\"},\"wordCount\":818,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/newmoneyreview.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg\",\"keywords\":[\"blockchain\",\"CSD\",\"CSDR\",\"Globacap\",\"MiFID\",\"Myles Milston\",\"SETL\"],\"articleSection\":[\"ACCOUNT\",\"Featured\",\"Latest\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/\",\"url\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/\",\"name\":\"All eyes on the blockchain summit - New Money Review\",\"isPartOf\":{\"@id\":\"https:\/\/newmoneyreview.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg\",\"datePublished\":\"2019-03-18T08:55:57+00:00\",\"dateModified\":\"2019-03-19T09:40:46+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage\",\"url\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg\",\"contentUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg\",\"width\":1400,\"height\":933},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/newmoneyreview.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"All eyes on the blockchain summit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/newmoneyreview.com\/#website\",\"url\":\"https:\/\/newmoneyreview.com\/\",\"name\":\"New Money Review\",\"description\":\"A periodical covering the accelerating changes in money\",\"publisher\":{\"@id\":\"https:\/\/newmoneyreview.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/newmoneyreview.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/newmoneyreview.com\/#organization\",\"name\":\"New Money Review\",\"url\":\"https:\/\/newmoneyreview.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg\",\"contentUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg\",\"width\":1418,\"height\":158,\"caption\":\"New Money Review\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/x.com\/newmoneyreview\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/34c47dea9161c6b33d0ca38dc5972730\",\"name\":\"New Money Review Staff\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/dde30bd01b88010f95b116e674eb3b5b8ef18e77ebe766eceab195eb45d35934?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/dde30bd01b88010f95b116e674eb3b5b8ef18e77ebe766eceab195eb45d35934?s=96&d=mm&r=g\",\"caption\":\"New Money Review Staff\"},\"url\":\"https:\/\/newmoneyreview.com\/index.php\/author\/new-money-review-staff\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"All eyes on the blockchain summit - New Money Review","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/","og_locale":"en_GB","og_type":"article","og_title":"All eyes on the blockchain summit - New Money Review","og_description":"Several blockchain initiatives aiming to reform the system of ownership for the world\u2019s share and bond markets have just hit road bumps. One project, SETL, has said it is putting […]","og_url":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/","og_site_name":"New Money Review","article_published_time":"2019-03-18T08:55:57+00:00","article_modified_time":"2019-03-19T09:40:46+00:00","og_image":[{"width":1400,"height":933,"url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg","type":"image\/jpeg"}],"author":"New Money Review Staff","twitter_card":"summary_large_image","twitter_creator":"@newmoneyreview","twitter_site":"@newmoneyreview","twitter_misc":{"Written by":"New Money Review Staff","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#article","isPartOf":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/"},"author":{"name":"New Money Review Staff","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/34c47dea9161c6b33d0ca38dc5972730"},"headline":"All eyes on the blockchain summit","datePublished":"2019-03-18T08:55:57+00:00","dateModified":"2019-03-19T09:40:46+00:00","mainEntityOfPage":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/"},"wordCount":818,"commentCount":0,"publisher":{"@id":"https:\/\/newmoneyreview.com\/#organization"},"image":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage"},"thumbnailUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg","keywords":["blockchain","CSD","CSDR","Globacap","MiFID","Myles Milston","SETL"],"articleSection":["ACCOUNT","Featured","Latest"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/","url":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/","name":"All eyes on the blockchain summit - New Money Review","isPartOf":{"@id":"https:\/\/newmoneyreview.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage"},"image":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage"},"thumbnailUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg","datePublished":"2019-03-18T08:55:57+00:00","dateModified":"2019-03-19T09:40:46+00:00","breadcrumb":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#primaryimage","url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg","contentUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg","width":1400,"height":933},{"@type":"BreadcrumbList","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/03\/18\/all-eyes-on-the-blockchain-summit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/newmoneyreview.com\/"},{"@type":"ListItem","position":2,"name":"All eyes on the blockchain summit"}]},{"@type":"WebSite","@id":"https:\/\/newmoneyreview.com\/#website","url":"https:\/\/newmoneyreview.com\/","name":"New Money Review","description":"A periodical covering the accelerating changes in money","publisher":{"@id":"https:\/\/newmoneyreview.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/newmoneyreview.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/newmoneyreview.com\/#organization","name":"New Money Review","url":"https:\/\/newmoneyreview.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/","url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg","contentUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg","width":1418,"height":158,"caption":"New Money Review"},"image":{"@id":"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/newmoneyreview"]},{"@type":"Person","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/34c47dea9161c6b33d0ca38dc5972730","name":"New Money Review Staff","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/dde30bd01b88010f95b116e674eb3b5b8ef18e77ebe766eceab195eb45d35934?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/dde30bd01b88010f95b116e674eb3b5b8ef18e77ebe766eceab195eb45d35934?s=96&d=mm&r=g","caption":"New Money Review Staff"},"url":"https:\/\/newmoneyreview.com\/index.php\/author\/new-money-review-staff\/"}]}},"jetpack_featured_media_url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/03\/summit.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/4266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/comments?post=4266"}],"version-history":[{"count":2,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/4266\/revisions"}],"predecessor-version":[{"id":4271,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/4266\/revisions\/4271"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/media\/4264"}],"wp:attachment":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/media?parent=4266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/categories?post=4266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/tags?post=4266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}