The document discusses how blockchain technology can be leveraged for digital transformation in the banking sector. It outlines several potential use cases for blockchain in areas like know-your-customer compliance, cross-border payments, loyalty programs, and financial inclusion. Additionally, it proposes a 5-step methodology for banks to explore blockchain opportunities and develop innovative solutions.
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureFloyd DCosta
Despite digitization and progress in the last decade, Capital Markets continue to be plagued by a set of long-standing challenges. Meanwhile, Blockchain technology has gone mainstream and now Decentralized Finance (DeFi) offers a next-generation platform to transform Capital Markets.
Based on open protocols and DApps, DeFi can help transform the global financial infrastructure and lead Capital Markets into the post Covid-19 ‘Digital’ era
Harnessing the potential of Blockchain Technology for enterprise Digital Transformation,
A strategy, framework, approach and some key considerations to help any enterprise get started.
[Feel free to download the presentation to view it offline]
Manta is a cryptocurrency framework, based on Polkadot, that empowers users to easily convert their own token into a synthetic clone that are private and untraceable by design.
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureFloyd DCosta
Despite digitization and progress in the last decade, Capital Markets continue to be plagued by a set of long-standing challenges. Meanwhile, Blockchain technology has gone mainstream and now Decentralized Finance (DeFi) offers a next-generation platform to transform Capital Markets.
Based on open protocols and DApps, DeFi can help transform the global financial infrastructure and lead Capital Markets into the post Covid-19 ‘Digital’ era
Harnessing the potential of Blockchain Technology for enterprise Digital Transformation,
A strategy, framework, approach and some key considerations to help any enterprise get started.
[Feel free to download the presentation to view it offline]
Manta is a cryptocurrency framework, based on Polkadot, that empowers users to easily convert their own token into a synthetic clone that are private and untraceable by design.
DeFi uses open protocols and decentralized applications powered by smart contracts to enforce agreements, facilitate trades and immutably record transactions on the Blockchain. Aggregating DeFi protocols via a secure and compliant interface with integration into enterprise systems provides an institutional gateway into decentralized finance markets. Zero Trust cybersecurity, self-custody multi-sig wallets together with integration into select existing financial systems provides a secure and compliant way for institutions and consumers to participate in this new emerging world of decentralized finance.
“Over the past two decades, the Internet has
revolutionized many aspects of business and
society... Yet the basic mechanics of how people
and organizations execute transactions… have
not been updated for the 21st century. Blockchain
could bring to those processes the openness and
efficiency we have come to expect
in the Internet Era.”
—Arvind Krishna
Senior VP, IBM Research
Evaluating the potential of blockchain technology to radically transform business
[Feel free to download the presentation if you'd like to view it offline]
Differences between public and private blockchains are described. Attention is paid to different recent DLT approaches and confronted with the needs of banks and other financial institutions. Special attention is paid to smart contracts and the issues and dilemma's for financial institutions and monetary authorities.
Blockchain for Financial Institutions (the beginning)Karnan Ariaratnam
Organizations ranging from small start-ups to major global banks and government agencies are already investing in Blockchain technology, is your organization thinking about it?
See our point of view on Blockchain, please reach out to me to discuss further (karnan.ariaratnam@ca.pwc.com)
Get Rich with Blockchain & Cryptocurrencykeerthi678722
Another year has passed and virtual currency and other blockchain-based digital
assets continue to attract the attention of policymakers across the globe. A lack of
consistency in how policymakers are addressing concerns raised by the technology
is a major challenge for legal professionals who practice in this area.
Blending composable DeFi protocols and integrating with verified third party networks / services will help create secure, inclusive, and liquid decentralized markets for digital assets
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureFloyd DCosta
Despite digitization and progress in the last decade, Capital Markets continue to be plagued by a set of long-standing challenges. Meanwhile, Blockchain technology has gone mainstream and now Decentralized Finance (DeFi) offers a next-generation platform to transform Capital Markets.
Based on open protocols and DApps, DeFi can help transform the global financial infrastructure and lead Capital Markets into the post Covid-19 ‘Digital’ era
Introduction to blockchain & cryptocurrenciesAurobindo Nayak
This was an intro session on blockchain and cryptocurrencies. If you want to view the webinar for this talk checkout: https://www.youtube.com/watch?v=rl5mVI7jEK0
Blockchain - a platform for Digital Transformation in FinanceBlockchain Worx
Propelled by new business models and opportunities to upgrade the existing legacy infrastructure, institutional interest in Blockchain technology continues to rapidly grow. From digital identity and asset tokenization to using smart contracts to automate business processes, Blockchain technology is swiftly establishing itself as a key enabler of the emerging digital finance environment.
The presentation outlines a strategy, an approach, and select considerations to help financial institutions harness the potential of Blockchain technology for Digital Transformation.
These slides were presented at the International Scientific Conference of Business Economics Management and Marketing (ISCOBEMM 2019), September 5th - 6th 2019 in Prušánky – Nechory, Czech Republic.
Blockchain and its Use in the Public Sector - OECDOECD Governance
Presentation on the OECD Working Paper "Blockchains Unchained: Blockchain Technology and its use in the Public Sector". This guide aims to equip public servants with the necessary knowledge to understand what the Blockchain architecture is, the implications it could have on government services, and the opportunities and challenges governments may face as a result. For more information see oe.cd/blockchain
DeFi uses open protocols and decentralized applications powered by smart contracts to enforce agreements, facilitate trades and immutably record transactions on the Blockchain. Aggregating DeFi protocols via a secure and compliant interface with integration into enterprise systems provides an institutional gateway into decentralized finance markets. Zero Trust cybersecurity, self-custody multi-sig wallets together with integration into select existing financial systems provides a secure and compliant way for institutions and consumers to participate in this new emerging world of decentralized finance.
“Over the past two decades, the Internet has
revolutionized many aspects of business and
society... Yet the basic mechanics of how people
and organizations execute transactions… have
not been updated for the 21st century. Blockchain
could bring to those processes the openness and
efficiency we have come to expect
in the Internet Era.”
—Arvind Krishna
Senior VP, IBM Research
Evaluating the potential of blockchain technology to radically transform business
[Feel free to download the presentation if you'd like to view it offline]
Differences between public and private blockchains are described. Attention is paid to different recent DLT approaches and confronted with the needs of banks and other financial institutions. Special attention is paid to smart contracts and the issues and dilemma's for financial institutions and monetary authorities.
Blockchain for Financial Institutions (the beginning)Karnan Ariaratnam
Organizations ranging from small start-ups to major global banks and government agencies are already investing in Blockchain technology, is your organization thinking about it?
See our point of view on Blockchain, please reach out to me to discuss further (karnan.ariaratnam@ca.pwc.com)
Get Rich with Blockchain & Cryptocurrencykeerthi678722
Another year has passed and virtual currency and other blockchain-based digital
assets continue to attract the attention of policymakers across the globe. A lack of
consistency in how policymakers are addressing concerns raised by the technology
is a major challenge for legal professionals who practice in this area.
Blending composable DeFi protocols and integrating with verified third party networks / services will help create secure, inclusive, and liquid decentralized markets for digital assets
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureFloyd DCosta
Despite digitization and progress in the last decade, Capital Markets continue to be plagued by a set of long-standing challenges. Meanwhile, Blockchain technology has gone mainstream and now Decentralized Finance (DeFi) offers a next-generation platform to transform Capital Markets.
Based on open protocols and DApps, DeFi can help transform the global financial infrastructure and lead Capital Markets into the post Covid-19 ‘Digital’ era
Introduction to blockchain & cryptocurrenciesAurobindo Nayak
This was an intro session on blockchain and cryptocurrencies. If you want to view the webinar for this talk checkout: https://www.youtube.com/watch?v=rl5mVI7jEK0
Blockchain - a platform for Digital Transformation in FinanceBlockchain Worx
Propelled by new business models and opportunities to upgrade the existing legacy infrastructure, institutional interest in Blockchain technology continues to rapidly grow. From digital identity and asset tokenization to using smart contracts to automate business processes, Blockchain technology is swiftly establishing itself as a key enabler of the emerging digital finance environment.
The presentation outlines a strategy, an approach, and select considerations to help financial institutions harness the potential of Blockchain technology for Digital Transformation.
These slides were presented at the International Scientific Conference of Business Economics Management and Marketing (ISCOBEMM 2019), September 5th - 6th 2019 in Prušánky – Nechory, Czech Republic.
Blockchain and its Use in the Public Sector - OECDOECD Governance
Presentation on the OECD Working Paper "Blockchains Unchained: Blockchain Technology and its use in the Public Sector". This guide aims to equip public servants with the necessary knowledge to understand what the Blockchain architecture is, the implications it could have on government services, and the opportunities and challenges governments may face as a result. For more information see oe.cd/blockchain
The ecosystem supporting blockchain technology has matured to the point where the rollout of multiple enterprise blockchain solutions is imminent. This is technology that cannot be ignored by any industry as it poses both a threat and an opportunity for organisations. This paper outlines the potential of blockchain technology.
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There's a lot of buzz around Blockchain, Is Blockchain the next” Big Thing" in the IT industry? It certainly looks to have a huge impact in finance, but it could also have far reaching effect in many other industries as well
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At Thomvest, we believe blockchain adoption is about to take off - making it a prime time for VCs to begin making early stage bets.
Take a look at our most recent research report which delves into the current state of blockchain.
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Blockchain for Digital Transformation in Banking
1. Floyd DCosta Harnessing the potential of Blockchain technology
for Digital Transformation in Banking
Distributed Ledger Technology
Emergence of Digital Asset Marketplaces
New medium of digitized value creation and exchange
2. 2
www.BlockchainWorx.com
Finincial Institutions are experimenting and investors have
poured millions of dollars into Blockchain related firms
Large financial institutions experimenting Blockchain
Ventures
Accelerator
USD millions invested in Blockchain start-ups
Having initially emerged alongside Bitcoin, Blockchain technology has swiftly diverged & continues
to independently gain traction
Source: CNN Money, Coindesk, Citi Research
Use Case /
Application
Record
BLOCKCHAINPlatform
CROSS-BORDERPAYMENTS
ESCROW&CUSTODYSERVICES
SUPPLYCHAIN&TRADEFINANCE
CUSTOMERACQUISITION&
LOYALTY
CURRENCY
FINANCIALSECURITIES&TRADING
LOGISTICS&ASSETTRACKING
INTELLECTUALPROPERTYRIGHTS
ASSETS
REALESTATE&PROPERTY
SUPPLYCHAINMANAGEMENT
DIGITALRIGHTSMANAGEMENT
INSURANCE
LEGAL
CONTRACTS
IDENTITYMANAGEMENT
FILESTORAGE&SHARING
ELECTRONICMEDICALRECORDS
AUDITINGANDCOMPLIANCE
DATA
INTENETOFTHINGS
VOTINGANDGOVERNANCE
SYSTEMS
COLLABORATIVEECONOMY
OTHERSTOBEDETERMINED
P2P
3. 3
www.BlockchainWorx.com
Blockchain technology, by its very nature, lends itself to the
digital transformation journey of a bank
The blockchain, a cryptographic ledger comprising a digital log of transactions shared across a public or
private network, can address some of the pitfalls of digital transformation programs – id, security and trust
From digital identity and tokenization to using smart contracts to automate businesses, Blockchain technology is swiftly establishing
itself as a key enabler of the emerging digitized enterprise environment
How a blockchain works
ImmutableCryptographically
Secure
Blockchain
Consensus
driven
Open source
value transfer
protocol
Distributed
P2P network
Secure
math-based
system
Decentralized
The first electronic value transfer protocol
A wants to send
money to B
The transaction is
represented online
as a `block’
The block is broadcast to
every party in the network
Those in the network approve
the transaction is valid
The block that can be
added to the chain, which
provides an indelible and
transparent record of
transactions
The money moves
from A to B
1 2 3 4 5 6
Key features of Blockchain technology
4. 4
www.BlockchainWorx.com
Blockchain can be a powerful tool anywhere trading occurs, trust is
at a premium and people need protection from identity theft
Blockchains have potential to radically change the future of transaction and records based industries
Blockchain is a native digital technology that is setting up the financial-services industry (along with others) for significant disruption
— or crucial transformation, depending which side of the table you look at it from
Image: Adapted from Citi research, Strategy+Business,
Financial intermediaries (Today)
• Requires trusted, centralised intermediaries
• Batch clearing and settlement
• Higher fees and costly infrastructure
Clearing House
(centralised ledger)
Financial Network
(distributed ledger)
Blockchain protocol (Emerging)
• No intermediaries required
• Faster processing and management
• Lower fees and reduced infrastructure cost
5. 5
www.BlockchainWorx.com
Four early blockchain use cases for a bank include KYC,
Cross-Border Payments, Loyalty & Social Development
Blockchain, the revolutionary shared ledger technology, is swiftly beginning to acquire a new identity in the banking world
An emerging set of Blockchain use cases provide banks with the opportunity to swiftly secure some
quick wins, showcase the potential and effectively accelerate their digital transformation journey
Social Dev. KYC and DD
Asset
Management Payments From remittances to cross-border
wiring services, Blockchains offer
a faster, effective and much lower-
cost alternative
The emergence of consortia will
also quicken adoption intra-bank,
inter-bank and beyond
Banks spend on average $60
million on KYC and customer
due diligence
Once verified, a client's data can
be put on a Blockchain so that it
can be securely accessed by the
various divisions of the bank
Facilitate the creation, distribution
and trading of assets in digital
format on the Blockchain
The distributed ledger enables
instant, secure and efficient
settlement and eliminates the
need for any reconciliation
Blockchain tech can bring the
millions of the world’s unbanked
into the mainstream economy
It could provide the backbone infra
for more interoperable, open
mobile money and other related
services
6. 6
www.BlockchainWorx.com
A 5-Step Methodology to harness the potential of
Blockchain technology within and beyond the enterprise
A structured approach will help organizations to explore possibilities, experiment with the technology, and develop innovative
blockchain-based solutions quickly, in a cost effective way
Understand the
technology.
Study and
evaluate impact.
Secure exec
sponsorship.
1
Setup a Working
Group (incl
Partners).
Identify potential
use cases
Validate fitment (in
overall strategy).
2
Score and prioritize
use cases.
Outline roadmap.
Setup a Lab (with a
team, processes
and the reqd. tech
infrastructure).
3
Launch design
and development.
Build Prototypes.
Test Use Cases.
4
Evaluate
Prototypes. Pick
Leaders. Move to
Mainstream
Deployment (in a
phased
approach).
5
Perform a comprehensive assessment of opportunities from a business, technology, and the legal standpoint of using
blockchain technology
Set up a lab. Start small. Begin with select processes that could be showcased to a wider audience to highlight benefits
and prime adoption.
Evaluate. Invest in technology and expertise related to blockchain. Secure alignment. Press for industry-wide change.
Collaborate and work together to design solutions for specific use cases and processes. Form consortia and work with
regulators early in the process.
7. 7
www.BlockchainWorx.com
4-Considerations to help move blockchain experiments
from the lab and towards mainstream deployment
Blockchain technology needs to fit into the enterprise IT fabric and be integrated with core systems
and processes
Need
of the
hour
Current
State
Part of the overall
business strategy
and Digital
Transformation
Isolated,
independent
experiments
Integrated with and
leverage the
extended enterprise
IT landscape
Disconnected.
Detached from core
systems
Inter-departmental,
Inter-agency, as
part of an enterprise
consortium /
network
Standalone or one-
off transactions
between two
department /
enterprises
Ecosystem
collaboration
platform with
synchronous real-
time processing for
global value chains
Independent, single-
industry network
blockchains
Participation in industry consortia and engaging with regulators early in the process to collaboratively design solutions for specific use
cases (especially inter-institutional ones) will help bring the solution swiftly and more effectively to deployment
8. 8
www.BlockchainWorx.com
Take The First Step: Identifying the right pilot use cases will
highlight the potential of the technology to all stakeholders
Between fully centralized and fully decentralized lies a middle path – a permissioned distributed ledger - allow semi-trusting parties to
securely share information among themselves and interact directly with one another without a co-ordinating intermediary
Blockchains are best suited for situations where there is a
distinct need for a select set of values
Blockchain make for a robust distributed transaction
infrastructure, well suited for collaboration within and
across institutional boundaries
Intra-institution
Inter-institutionCollaborationSecurity
Trust
Transparency
Disinter-
mediation
9. 9
www.BlockchainWorx.com
Want to know more? Have a suggestion? Connect with
us. We are eager to hear from you
Drop us a line or reach us via any of the channels below:
+65 96536243
+971 569503252
@blockchainworx
info@blockchainworx.com
www.blockchainworx.com
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