Inflectra and BLOOCK co-hosted the webinar: Blockchain Development & Innovation in the Banking and Finance Industry. In this webinar, August Guenther, Software Engineer at Inflectra, and Marc Baqué, CTO at BLOOCK, discussed the current state of the traditional banking and finance space, the benefits of blockchain implementation in the industry, and scenarios in which customers might find an integration between Inflectra's and BLOOCK's technologies useful.  Webinar Agenda: - Current state of traditional Banking & Finance space - Software development & testing challenges - Blockchain solution in the Banking & Finance space - Benefits of blockchain implementation in the industry - Inflectra and BLOOCK technologies: application scenarios & Spira's integration capabilities - Questions from the audience Webinar Presenters: Marc Baqué is a full stack developer with deep knowledge in blockchain technology and expertise in the Ethereum ecosystem. Holding a master’s degree in IT Projects and Service Management from UPC, he leads BLOOCK technical team as the CTO. Through his expertise in Project Management as well as software development, Marc continues to grow BLOOCK’s product by developing new functionalities, all in accordance with client needs. Marc is also deeply involved in the Catalan tech community and proves himself as a key leader. August Guenther is a Full stack web developer with market and general knowledge of popular blockchain implementations such as Bitcoin, Ethereum, and other miscellaneous crypto and NFT projects. He is on Inflectra's SpiraPlan product team working on external tools such as migration tools, data syncs, and other utility applications. August is a self taught developer and is involved in online communities helping new to-be developers get started on their own self led software development journeys. Audrey Marcum is a Strategic Partner Manager at Inflectra Corporation. New to the IT industry, she has applied her skills developed in her education and previous job positions to her role at Inflectra, where she oversees the Partner Program, manages partners in the US and Canada, and provides support to Inflectra’s global partner channel. She also manages Inflectra's technology partnerships and organizes partner marketing efforts. Prior to working at Inflectra, she completed her Bachelor of Arts degree in Philosophy with a focus in Public Affairs at The George Washington University.

1. Blockchain development and innovation
in the Banking & Finance Space
Case study: Banking balance certification with Blockchain

2. Meet the Co-Hosts
August Guenther
Inflectra
Marc Baqué
BLOOCK

3. About Inflectra
• 80,000 users in over 5,000 companies worldwide
• We focus on our customers – not pleasing investors

4. Blockchain solution for enterprise data security
and authenticity in a simple, scalable, and
confidential manner.
+ 30 DLT projects
Cross-industry applications
About BLOOCK
• Banking & Finance
• Healthcare
• Education
• Legal
• NGOs

5. Industry introduction
Current state of the traditional Banking&Finance
space and use case presentation

6. Banking Balance certification - Actual workflow
Banking Entity 1
Client
Banking Entity 2 …
Issues a balance
certification
Receives the certification
and submits it
Sees the certification
and wants to verify it
Confirms
document validity
Certification
Certification
Is it authentic?

7. Potential problems and improvements
It is relatively easy to forge account ownership,
balance, or payment certificate using basic
tools.
Counterfeiting
There is no mechanism to verify the veracity of
the document without interacting with the
bank, leading to inefficient repetition of tasks.
Dependence on the banking entity
A modification of the certificates issued by a
client, or a third party may cause serious damage
to the entity's prestige or even significant
financial losses.
Risk and damage to the entity

8. Compliance
Financial institutions
must ensure the
privacy and security of
the data they store in
their systems, while
coping with constant
regulatory changes.
Traceability
It is essential that
information from banks
and financial
institutions has a
credible and verifiable
end-to-end traceability
system in case of legal
disputes.
Security & Privacy
Current information
systems have security
breaches that open the
door to fraud attempts,
putting at risk the
security and privacy of
the information they
contain.
Speed & Agility
To verify a
bank document, it is
necessary to go back
to the original
source to confirm its
authenticity, which
makes the traditional
process slow and
inefficient.
Need for a solution that addresses major industry concerns

9. Real examples
OLAF. Detection of forged documents in the field of structural actions (November 12, 2013).
European Commission report on the use of
counterfeit documents
Millionaire falsification of bank balance sheet
A beneficiary submitted a bank statement showing a
balance of CZK 20 million to obtain EU co-financing.
The police proved that the statement was false, and
the real balance was only CZK 20,000. The perpetrator
used a real bank stamp, which implies that he
probably had an accomplice inside the bank, although
the latter could not be proven.
Fraud in documents such as invoices or balance
sheets has become a real threat to members of the
European Commission.
With the aim of reducing fraud cases in the
member states, the European Anti-Fraud Office
(OLAF) has developed practical documentation on
the falsification of documents and certificates.
Falsified document

10. Blockchain Introduction
The technology of the future will guarantee maximum
security and full transparency

11. What is Blockchain?
Simplified business version
Blockchain is similar to a gigantic database where
anyone, customers or companies, can upload the
certification of any data. Once the certification is
uploaded, users can use blockchain for claims
validation. Despite the fact that the network is
accessible by anyone, no one can hack it.
Technical definition
Blockchain is a decentralized, distributed, and
oftentimes public digital ledger consisting of records
called blocks which are used to record transactions
across many computers. Working with this
mechanism, any involved block cannot be altered
retroactively, without the alteration of all subsequent
blocks.

12. Blockchain main principles
How does Blockchain work
1. Information is not kept under just one
individual, but all the nodes share all
information at the same time.
2. With a shared/common protocol
across all nodes, the security and
resilience of the blockchain are very
high (any possibility of hacking all
nodes at the same time is almost
impossible) –the bigger the
blockchain, the better.
3. All information is visible to anyone
who access the blockchain.
Centralized Decentralized Distributed

13. Blockchain Advantages
The technology of the future will guarantee maximum security and full
transparency.
Blockchain Information is
accessible by anyone on a
freeway thanks to public
transparent protocols.
Top security thanks to the
decentralized structure
(thousands of independent
Servers linked with the same
protocol).
Thanks to its immutability,
the blockchain provides validity
over time and can be used to
claim data originality.
Accessible and
transparent
Hyper
secure
Claims and
validations
No More Fake information.
Anyone can immediately verify
fake information or imitation.
Do not worry about hackers.
Information/Certifications in the
blockchain are the most secure
ones in the industry.
Blockchain certifications can be
used in audit trials since it is the
perfect data tamper-proof ledger.

14. The strategic choice
Deloitte
“While blockchain was
once classified as a
technology experiment, it
now represents a true
agent of change that is
affecting the entire
organization.”
“Our latest survey data
suggest organizations
clearly view blockchain
as a top priority
(>50% of the
respondents).”
53%
27%
14%
6%
Critical
in the top5
Very important
but not in Top5
Very relevant
but not strategic
Unsure
not relevant
Blockchain relevance
within organizations
Source: 2019 global blockchain survey

15. How to solve workflow inefficiencies with Blockchain
Client
Banking Entity
2
Creates a
certification, signs
and certifies it
Receives the
certification and
delivers it to another
entity
Sees the document and
verifies it
Certifica
tion
Is it authentic
and
Integral?
YES/NO
Banking Entity
1
Registers
the
certificatio
n
…
Certifica
tion

16. Blockchain benefits and innovation
Agile verification process:
The veracity of the
information can be verified
quickly and independently,
streamlining the process with
a technological base.
Security and privacy: BLOOCK
guarantees all recorded
information's privacy while
ensuring total security
thanks to blockchain-shared
protocols.
Follow compliance standards:
BLOOCK grants the highest
privacy standards and GDPR.
BLOOCK applies encryption
before sending to its cloud
services.
Eliminating fraud
risk: Entities are protected
against falsifications while
avoiding monetary costs
associated with potential
fraud.
End-to-end traceability:
Banking entities have
verifiable traceability of all
the changes that the
information has undergone
since its issuance.
Prestige and innovative
positioning: The entity's
reputation and customer trust
are strengthened with the use
of cutting-edge technologies.

17. Inflectra's Open Ecosystem
• Spira product APIs never depreciated
• Bugs in older versions still addressed,
even if not newest version
• Use our own APIs internally
• Create productivity and
implementation tools (data syncs,
integrations)
Supporting external tool integration with Inflectra APIs
BLOOCK & Inflectra: potential integration scenario
• Create a scheduled service that runs
after each block validation
• Ties Spira* Artifacts to their
respective hashes
• Results?
• Centralized place to manage documents
and relevant business information
that relates to those documents
• All while tying them to BLOOCK's
blockchain validation

18. www.bloock.com
hello@bloock.com
Avenida Diagonal, 536
08006 - Barcelona, Spain
Commercial offices:
Carrer de Sant Medir, 15
08172 - Sant Cugat del Vallès, Spain