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Rindi - Blockchain DLT FinTech Impact China

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Blockchain & Distributed Ledger Tech - Impact on FinTech, presented at China (Jinan) International Forum on Industrial Finance, in Jinan, Shandong Province, China on 19 October 2018.

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Rindi - Blockchain DLT FinTech Impact China

  1. 1. Blockchain & DLT Impact on Finance: Opportunities & Challenges Caterina Rindi
  2. 2. Caterina Rindi - RindiConsulting.com •Elementary Education •p2p & Collaborative Economy •Bitcoin Startup •CSR & Impact
  3. 3. Blockchain & Distributed Ledger Technology (DLT) • consensus-driven, p2p-shared digital database & ledger • replicated among multiple sites, countries, institutions • global • permissioned/private or permissionless/public • blockchain is one kind of DLT • many blockchains – e.g. Bitcoin, Ethereum, EOS, Ripple
  4. 4. Some Problems to Solve in Financial Systems • fees and costs of intermediaries • friction in movement of money • redundant and onerous paperwork • fraud and crime • regulatory costs and burden • inefficiency of centralized systems
  5. 5. • alternative investing & financing option • peer-to-peer ICO’s = global distributed shares • stock exchanges exploring blockchain to clear & settle trades • Australia, Santiago(Chile), Korea, London (UK), Tallinn (Estonia), Tokyo, US Nasdaq, Scotland • global remittance network (Ripple) • micropayments Some examples how new tools are being used
  6. 6. Other corresponding applications being developed • supply chain & inventory management • trading value – exchanges • insurance & risk management • identity & reputation • audit & tax functions • medical records • IoT • patents & royalties
  7. 7. Opportunities • increased efficiencies – cost and speed • decrease fraud • removal of excess intermediaries • direct & efficient pipeline to investors • large volume of small investments • access to global markets • immutable audit trails • improved privacy
  8. 8. Challenges • regulatory uncertainty • legal evolution – smart contracts, language • standardization needed in many industries • digitization of records and data • immature businesses/products & development • interoperability of ledgers/networks
  9. 9. China-specific activities • bitcoin mining leader b/c low cost energy, labor, manufacturing • PBoC positive declarations (2018-03) • Pres. Xi Jinping ”new generation of breakthrough tech” (2018-06) • strong software developer community (Eth conf) • ICO’s banned (2017) • cryptocurrency exchanges banned (2017)
  10. 10. China-specific activities - cont. • 2018-01 blockchain-related project financing = RMB 681 M • Example startups: • Ziggurat (Zhigui) • Energy Blockchain Labs – Beijing • NEO; QTUM blockchains • Active projects by: Baidu, Alibaba, Tencent • Leading cities: Beijing, Shanghai, Hangzhou (Industry Park 2018-05)
  11. 11. Caterina@RindiConsulting.com https://RindiConsulting.com Thank You!

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