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Towards Ambient Accountability

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NextBank Barcelona Keynote, September 2015

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Towards Ambient Accountability

  1. 1. www.chyp.comPlease Copy and Distribute1 Toward Ambient Accountability Or “Hey, I may have figured out what fintech is for” Next Bank Europe Barcelona September 2015
  2. 2. www.chyp.comPlease Copy and Distribute David G.W. Birch Director of Innovation at Consult Hyperion An internationally-recognised thought leader in digital identity and digital money; Named one of the global top 15 favourite sources of business information (Wired magazine); One of the “Fintech Titans” (NextBank); In the London FinTech top 3 most influential powerlist (City A.M.) One of the top ten Twitter accounts followed by innovators, along with Bill Gates and Richard Branson (PR Daily); One of the top ten most influential voices in banking (Financial Brand); Voted one of the European “Power 50” people in digital financial services (FinTech Awards); Ranked Europe’s most influential commentator on emerging payments (Total Payments magazine). 2
  3. 3. www.chyp.comPlease Copy and Distribute Consult Hyperion… 3 22/09/2015
  4. 4. www.chyp.comPlease Copy and Distribute Section 1: What is “Blockchain”? 4 22/09/2015 The new technology. The replicated decentralised shared ledger formerly known as “the blockchain”.
  5. 5. www.chyp.comPlease Copy and Distribute Banks are Serious 5
  6. 6. www.chyp.comPlease Copy and Distribute But Serious about What? ‘It’s all about the blockchain…no, wait private chains… I mean ledgers… 6
  7. 7. www.chyp.comPlease Copy and Distribute Ledgers of Interest 7
  8. 8. www.chyp.comPlease Copy and Distribute Banks and Closed Private Ledgers 8 Inspired by the blockchain
  9. 9. www.chyp.comPlease Copy and Distribute Banks and Open Private Ledgers 9
  10. 10. www.chyp.comPlease Copy and Distribute Banks and Extrinsic Public Ledgers 10
  11. 11. www.chyp.comPlease Copy and Distribute Banks and Intrinsic Public Ledgers 11
  12. 12. www.chyp.comPlease Copy and Distribute “Smart” “contracts” and “property” p.225 Smart contracts need not be limited to finance and when paired with "smart property" — where deeds, titles and other certifications of ownership are put in digital form to be acted on by software — these contracts allow the automatic transfer for ownership of a physical asset. 12
  13. 13. www.chyp.comPlease Copy and Distribute Section 2: So What? 13 22/09/2015 A new narrative. How can we create a story around the shared ledger so that technologists and bankers can communicate effectively and build something GREAT?
  14. 14. www.chyp.comPlease Copy and Distribute Waiting for a Solution 14 22/09/2015
  15. 15. www.chyp.comPlease Copy and Distribute The Problem 15 22/09/2015
  16. 16. www.chyp.comPlease Copy and Distribute Transparency 16 22/09/2015
  17. 17. www.chyp.comPlease Copy and Distribute Section 3: Bank Backbone 17 22/09/2015 A new paradigm for finance. What would financial services built around an open ledger look like?
  18. 18. www.chyp.comPlease Copy and Distribute It’s a Platform World Rather than create a new blockchain for each new idea, we will eventually have blockchain platforms on which new ideas could be implemented in situ (Wood & Buchanan). 18
  19. 19. www.chyp.comPlease Copy and Distribute Open Public Ledger Platform Homomorphic encryption Delivering paradoxical privacy and transparency Publicly-private records Value-added applications that transform the mundane Real reputation Bottom-up identity infrastructure 19
  20. 20. www.chyp.comPlease Copy and Distribute Why? Robust 20
  21. 21. www.chyp.comPlease Copy and Distribute Why? Innovative 21
  22. 22. www.chyp.comPlease Copy and Distribute Why? Transparent 22
  23. 23. www.chyp.comPlease Copy and Distribute Section 4: The Big Idea 23 22/09/2015 This is where fintech is going… “ambient accountability” What if the replicated, decentralised, open, public, shared ledger is the real legacy of the financial crisis?
  24. 24. www.chyp.comPlease Copy and Distribute Transparency as Legacy 24 22/09/2015
  25. 25. www.chyp.comPlease Copy and Distribute Contact 25 Browse www.chyp.com Follow @chyppings Mail info@chyp.com Comment http://www.chyp.com/media/blog/ Listen http://www.chyp.com/media/podcasts/ Consult Hyperion UK Tweed House, 12 The Mount Guildford, Surrey GU24HN, UK. +44 1483 301793 Consult Hyperion USA 535 Madison Avenue, 19th Floor New York, NY 10022, USA. +1 888 835 6124

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