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Blockchain based model for finacial ecosystem

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  1. 1. Blockchain based model for financial ecosystem (INFRA) Pavel Kravchenko, PhD
  2. 2. Why FinTech is interested in blockchain technology? • fast settlement • undeniability • easy audit • standard set of protocols • open-source
  3. 3. Why Bitcoin/Ripple/Ethereum is not an option? • Poo scalability of a single ledger • Low speed of transaction validation • High trust to anonymous validators • Absence of anonymity & KYC/AML • Low privacy of trading positions • Built-in coin is undesirable
  4. 4. 1) each entity has its own ledger(s) 2) there is no global shared ledger at all 3) there is no global consensus 4) no designated validators (gateway = validator) 5) consensus is reached only between parties that involved in the transaction 6) no built-in coin! Solution principles
  5. 5. Ledger structure Customers keep ledgers on their devices Banks maintain copy of customers’ ledgers
  6. 6. Ledger replication Regulators share ledgers with banks
  7. 7. Transaction execution
  8. 8. Transactions are distributed inside trusted p2p network between gateways (banks). Each bank decides whom to trust.
  9. 9. Offer creation
  10. 10. Exchange process
  11. 11. Handling of exceptions