This Case Study first describes the power of Blockchain for the Financial sector. Then, it takes a deep dive for an implementation strategy for Permissioned Blockchain network based on Hyperledger Blockchain technology that could accommodate different organizations and their loyalty programs.
Cisco ICON Speaker Series: Blockchain - Technology that is revolutionizing th...Vishnu Pendyala
Varun Vijay's talk abstract:
Blockchain can profoundly change how the world works. It is said that Blockchain will do for transactions what the Internet did for information. It will increase trust and efficiency in the exchange of almost anything, even vehicle registration and tracking medical records - not just Cryptocurrencies. Blockchain, most simply defined as a shared, immutable ledger, has the potential to be the technology that redefines those processes and many others. Blockchain is not about Cryptocurrencies like Bitcion, but about the underlying digital foundation that supports applications such as bitcoin. The reach of Blockchain extends far beyond Crytocurrencies. The Presentation will cover the fundamentals of Blockchain and how this technology will revolutionize transactions and business networks. Audience will also discover the important difference between Blockchain and Blockchain for business and what makes Blockchain an ideal solution for streamlining business networks.
This is a high level introduction to blockchain for business concepts and its business value. It focuses on what blockchain is, how why it is important and the state of the technology. It covers how business blockchains differ from cryptocurrencies such as Bitcoin.
Collateral Registration System based on Blockchain TechnologiesAlfaSoft_Moldova
Blockchain technology has revolutionized the way we use internet and became one of the most promising new technologies for the future, providing a new way to record and transfer data. Blokchain stimulates the development of many industries, including public administration.
AlfaSoft is exploring the usage of blockchain technology for its e-Government solutions based on its own low-code application platform solution - WebAssembler.NET® since 2017.
Specifically, we have taken our implemented Collateral Registration System for the Central Collateral Registration Office (CCRO) of Kyrgyz Republic and developed a Proof of Concept for such a registry system using blockchain technology.
The blockchain is necessary for the organization of a confidential environment between participants of the transaction, since the service is used by different groups of users and there is a constant lack of trust between them – the borrowers and lenders.
A guest lecture delivered by Dr Farrukh Habib at INCEIF, Kuala Lumpur, on 22nd March, 2018.
Dr Farrukh Habib is an expert in sharia and Islamic finance. He is a adviser, researcher and trainer. He is keen interest in FinTech.
This Case Study first describes the power of Blockchain for the Financial sector. Then, it takes a deep dive for an implementation strategy for Permissioned Blockchain network based on Hyperledger Blockchain technology that could accommodate different organizations and their loyalty programs.
Cisco ICON Speaker Series: Blockchain - Technology that is revolutionizing th...Vishnu Pendyala
Varun Vijay's talk abstract:
Blockchain can profoundly change how the world works. It is said that Blockchain will do for transactions what the Internet did for information. It will increase trust and efficiency in the exchange of almost anything, even vehicle registration and tracking medical records - not just Cryptocurrencies. Blockchain, most simply defined as a shared, immutable ledger, has the potential to be the technology that redefines those processes and many others. Blockchain is not about Cryptocurrencies like Bitcion, but about the underlying digital foundation that supports applications such as bitcoin. The reach of Blockchain extends far beyond Crytocurrencies. The Presentation will cover the fundamentals of Blockchain and how this technology will revolutionize transactions and business networks. Audience will also discover the important difference between Blockchain and Blockchain for business and what makes Blockchain an ideal solution for streamlining business networks.
This is a high level introduction to blockchain for business concepts and its business value. It focuses on what blockchain is, how why it is important and the state of the technology. It covers how business blockchains differ from cryptocurrencies such as Bitcoin.
Collateral Registration System based on Blockchain TechnologiesAlfaSoft_Moldova
Blockchain technology has revolutionized the way we use internet and became one of the most promising new technologies for the future, providing a new way to record and transfer data. Blokchain stimulates the development of many industries, including public administration.
AlfaSoft is exploring the usage of blockchain technology for its e-Government solutions based on its own low-code application platform solution - WebAssembler.NET® since 2017.
Specifically, we have taken our implemented Collateral Registration System for the Central Collateral Registration Office (CCRO) of Kyrgyz Republic and developed a Proof of Concept for such a registry system using blockchain technology.
The blockchain is necessary for the organization of a confidential environment between participants of the transaction, since the service is used by different groups of users and there is a constant lack of trust between them – the borrowers and lenders.
A guest lecture delivered by Dr Farrukh Habib at INCEIF, Kuala Lumpur, on 22nd March, 2018.
Dr Farrukh Habib is an expert in sharia and Islamic finance. He is a adviser, researcher and trainer. He is keen interest in FinTech.
It explains the concept of Blockchain which is going revolutionize the world economy. Blockchain is going to change money, business and thus the world.
Blockchain is a technology for a new generation of transactional applications that establishes trust,
accountability and transparency while streamlining processes in business networks. Think of it as
an operating system for interactions between participants in a business network. It has the potential
to vastly reduce the cost and complexity of getting things done
Unbundling Of Financial Services: The Blockchain(s) RevolutionGeorge Samuel Samman
This is a deck which talks about blockchain(s) and their use cases, It is based off of some o the best thought in the space and looks at why banking and financial services will be changed.
Blockchain point of view for the telco, media and entertainment industryIBM Blockchain
Blockchain point of view for the telco, media and entertainment industry by Luca Marchi, Utpal Mangla, Mathews Thomas.
IBM Blockchain Services: https://ibm.co/2Llrq3J
Investment Interest in Blockchain
• Blockchain has the potential to reduce infrastructure
cost by up to $20 billion a year.
• P2P money Transfer across international borders -
segment worth $500 B.
• Anderseen Horowitz ( VC firm) has invested over USD
$100 million into Blockchain technology
• All time Public/VC investment into Blockchain startups -
$894 million.
• Over 4000 active fintech startups in the NY arena and
investment in the sector tripling last year to $12 billion.
Digital Transformation is all about looking at your business models and industries in fundamentally new ways of operating at higher levels of innovation in order to provide better business value for customers while lowering TCO. Whether you are born digital or analog, an effective DT strategy is essential to remain competitive in this new era of business, by using Multi-Speed IT architectures and the latest technologies enabling businesses to do more, thereby providing a better experience to partners and customers.
Blockchain is such a revolutionary technology and in this webinar, we'll explore the fundamentals of Blockchain, how IBM Blockchain works on IBM's Digital Innovation Platform: Bluemix and how it has the potential to increase trust, transparency, and efficiency in your business or industry.
Blockchain in Media. Description of blockchain and smart contracts. Presented Media pain points and possible solutions. Peeped into various frameworks built on Hyperledger fabric and ethereum for media
Blockchain, smart contracts and use cases for the Legal HackersKoen Vingerhoets
On the 20th of June, the Brussels Legal Hackers invited @KristofVerslype and myself to explain #bitcoin, #blockchain and #smartcontracts. We added some use cases to spice up things. This set only contains my slides for the evening.
Koen V. presented the practical approach in the context of a financial institution. He touches upon:
How do you explain complex (technical) concepts like blockchain and smart contracts to the business? (through a 6 branch model)
How do you prioritise potential experiments and investments? (through a 6 branch model)
When don't you use blockchain or smart contracts?
What are actual experiments and projects in the blockchain / smart contract pipeline?
Original publication: https://www.slideshare.net/koenvingerhoets/blockchain-smart-contracts-and-use-cases-for-the-legal-hackers
Link to the meetup follow-up page: https://www.meetup.com/Brussels-Legal-Hackers/messages/boards/thread/50920056
Legal hackers: https://www.meetup.com/Brussels-Legal-Hackers
Blockchain in Banking: A Measured ApproachCognizant
Here's our foundational view on what the financial services industry needs to consider as organizations move from ideation to experimentation to pilot deployments of blockchain.
All about Blockchain Technology and it's applications in Finance functionvinodavg
Blockchain Technology is a vast, distributed ledger, operating on millions of devices, recording anything, with identical copies maintained on each of the network computers. When a new transaction or an edit to an existing transaction comes in, generally a majority of the nodes within a blockchain network must execute some algorithms and essentially evaluate and verify the history of the transaction that is proposed and come to a consensus that the history and signature is valid, then the new transaction is accepted into the ledger. If a majority of nodes do not concede to the addition or modification of the ledger entry, then it is denied and not added to the chain. All the members can review previous entries and record new transactions. These are then grouped into ‘blocks’, which then form part of a ‘chain’, thus leading to a ‘blockchain
The term blockchain can elicit reactions from blank stare (from the majority of the general public) to evangelical fervour (from over-enthusiastic early adopters). The best known example of blockchain technology in action is the leading cryptocurrency Bitcoin, but there are many more use cases - think of blockchain as the 'operating system'.
How to raise $100M for your healthcare startup via ICO: Breaking the myths of...VSee
Telehealth Failures & Secrets to Success Conference 2017 by VSee
Speaker: Danny Yang & Tim Swanson
CEO of BlockSeer & Director of Post Oak Labs
More info at: vsee.com/conference
It explains the concept of Blockchain which is going revolutionize the world economy. Blockchain is going to change money, business and thus the world.
Blockchain is a technology for a new generation of transactional applications that establishes trust,
accountability and transparency while streamlining processes in business networks. Think of it as
an operating system for interactions between participants in a business network. It has the potential
to vastly reduce the cost and complexity of getting things done
Unbundling Of Financial Services: The Blockchain(s) RevolutionGeorge Samuel Samman
This is a deck which talks about blockchain(s) and their use cases, It is based off of some o the best thought in the space and looks at why banking and financial services will be changed.
Blockchain point of view for the telco, media and entertainment industryIBM Blockchain
Blockchain point of view for the telco, media and entertainment industry by Luca Marchi, Utpal Mangla, Mathews Thomas.
IBM Blockchain Services: https://ibm.co/2Llrq3J
Investment Interest in Blockchain
• Blockchain has the potential to reduce infrastructure
cost by up to $20 billion a year.
• P2P money Transfer across international borders -
segment worth $500 B.
• Anderseen Horowitz ( VC firm) has invested over USD
$100 million into Blockchain technology
• All time Public/VC investment into Blockchain startups -
$894 million.
• Over 4000 active fintech startups in the NY arena and
investment in the sector tripling last year to $12 billion.
Digital Transformation is all about looking at your business models and industries in fundamentally new ways of operating at higher levels of innovation in order to provide better business value for customers while lowering TCO. Whether you are born digital or analog, an effective DT strategy is essential to remain competitive in this new era of business, by using Multi-Speed IT architectures and the latest technologies enabling businesses to do more, thereby providing a better experience to partners and customers.
Blockchain is such a revolutionary technology and in this webinar, we'll explore the fundamentals of Blockchain, how IBM Blockchain works on IBM's Digital Innovation Platform: Bluemix and how it has the potential to increase trust, transparency, and efficiency in your business or industry.
Blockchain in Media. Description of blockchain and smart contracts. Presented Media pain points and possible solutions. Peeped into various frameworks built on Hyperledger fabric and ethereum for media
Blockchain, smart contracts and use cases for the Legal HackersKoen Vingerhoets
On the 20th of June, the Brussels Legal Hackers invited @KristofVerslype and myself to explain #bitcoin, #blockchain and #smartcontracts. We added some use cases to spice up things. This set only contains my slides for the evening.
Koen V. presented the practical approach in the context of a financial institution. He touches upon:
How do you explain complex (technical) concepts like blockchain and smart contracts to the business? (through a 6 branch model)
How do you prioritise potential experiments and investments? (through a 6 branch model)
When don't you use blockchain or smart contracts?
What are actual experiments and projects in the blockchain / smart contract pipeline?
Original publication: https://www.slideshare.net/koenvingerhoets/blockchain-smart-contracts-and-use-cases-for-the-legal-hackers
Link to the meetup follow-up page: https://www.meetup.com/Brussels-Legal-Hackers/messages/boards/thread/50920056
Legal hackers: https://www.meetup.com/Brussels-Legal-Hackers
Blockchain in Banking: A Measured ApproachCognizant
Here's our foundational view on what the financial services industry needs to consider as organizations move from ideation to experimentation to pilot deployments of blockchain.
All about Blockchain Technology and it's applications in Finance functionvinodavg
Blockchain Technology is a vast, distributed ledger, operating on millions of devices, recording anything, with identical copies maintained on each of the network computers. When a new transaction or an edit to an existing transaction comes in, generally a majority of the nodes within a blockchain network must execute some algorithms and essentially evaluate and verify the history of the transaction that is proposed and come to a consensus that the history and signature is valid, then the new transaction is accepted into the ledger. If a majority of nodes do not concede to the addition or modification of the ledger entry, then it is denied and not added to the chain. All the members can review previous entries and record new transactions. These are then grouped into ‘blocks’, which then form part of a ‘chain’, thus leading to a ‘blockchain
The term blockchain can elicit reactions from blank stare (from the majority of the general public) to evangelical fervour (from over-enthusiastic early adopters). The best known example of blockchain technology in action is the leading cryptocurrency Bitcoin, but there are many more use cases - think of blockchain as the 'operating system'.
How to raise $100M for your healthcare startup via ICO: Breaking the myths of...VSee
Telehealth Failures & Secrets to Success Conference 2017 by VSee
Speaker: Danny Yang & Tim Swanson
CEO of BlockSeer & Director of Post Oak Labs
More info at: vsee.com/conference
Similar to Blockchain_FSS.pptx , Cryptography,crypto cuurency (20)
Welcome to WIPAC Monthly the magazine brought to you by the LinkedIn Group Water Industry Process Automation & Control.
In this month's edition, along with this month's industry news to celebrate the 13 years since the group was created we have articles including
A case study of the used of Advanced Process Control at the Wastewater Treatment works at Lleida in Spain
A look back on an article on smart wastewater networks in order to see how the industry has measured up in the interim around the adoption of Digital Transformation in the Water Industry.
Q.1 A single plate clutch with both sides of the plate effective is required to transmit 25 kW at 1600 r.p.m. The outer diameter of the plate is limited to 300 mm and the intensity of pressure between the plates not to exceed 0.07N / m * m ^ 2 Assuming uniform wear and coefficient of friction 0.3, find the inner diameter of the plates and the axial force necessary to engage the clutch.
Q.2 A multiple disc clutch has radial width of the friction material as 1/5th of the maximum radius. The coefficient of friction is 0.25. Find the total number of discs required to transmit 60 kW at 3000 r.p.m. The maximum diameter of the clutch is 250 mm and the axial force is limited to 600 N. Also find the mean unit pressure on each contact surface.
Q.3 A cone clutch is to be designed to transmit 7.5 kW at 900 r.p.m. The cone has a face angle of 12°. The width of the face is half of the mean radius and the normal pressure between the contact faces is not to exceed 0.09 N/mm². Assuming uniform wear and the coefficient of friction between the contact faces as 0.2, find the main dimensions of the clutch and the axial force required to engage the clutch.
Q.4 A cone clutch is mounted on a shaft which transmits power at 225 r.p.m. The small diameter of the cone is 230 mm, the cone face is 50 mm and the cone face makes an angle of 15 deg with the horizontal. Determine the axial force necessary to engage the clutch to transmit 4.5 kW if the coefficient of friction of the contact surfaces is 0.25. What is the maximum pressure on the contact surfaces assuming uniform wear?
Q.5 A soft surface cone clutch transmits a torque of 200 N-m at 1250 r.p.m. The larger diameter of the clutch is 350 mm. The cone pitch angle is 7.5 deg and the face width is 65 mm. If the coefficient of friction is 0.2. find:
1. the axial force required to transmit the torque:
2. the axial force required to engage the clutch;
3. the average normal pressure on the contact surfaces when the maximum torque is being transmitted; and
4. the maximum normal pressure assuming uniform wear.
Q.6 A single block brake, as shown in Fig. 1. has the drum diameter 250 mm. The angle of contact is 90° and the coefficient of friction between the drum and the lining is 0.35. If the torque transmitted by the brake is 70 N-m, find the force P required to operate the brake. Q.7 The layout and dimensions of a double shoe brake is shown in Fig. 2. The diameter of the
brake drum is 300 mm and the contact angle for each shoe is 90°. If the coefficient of friction for the brake lining and the drum is 0.4, find the spring force necessary to transmit a torque of 30 N-m. Also determine the width of the brake shoes, if the bearing pressure on the lining material is not to exceed 0.28N / m * m ^ 2
Toll tax management system project report..pdfKamal Acharya
Toll Tax Management System is a web based application that can provide all the information related to toll plazas and the passenger checks in and pays the amount, then he/she will be provided by a receipt. With this receipt he/she can leave the toll booth without waiting for any verification call.
The information would also cover registration of staff, toll plaza collection, toll plaza collection entry for vehicles, date wise report entry, Vehicle passes and passes reports b/w dates.
Overview of the fundamental roles in Hydropower generation and the components involved in wider Electrical Engineering.
This paper presents the design and construction of hydroelectric dams from the hydrologist’s survey of the valley before construction, all aspects and involved disciplines, fluid dynamics, structural engineering, generation and mains frequency regulation to the very transmission of power through the network in the United Kingdom.
Author: Robbie Edward Sayers
Collaborators and co editors: Charlie Sims and Connor Healey.
(C) 2024 Robbie E. Sayers
Hybrid optimization of pumped hydro system and solar- Engr. Abdul-Azeez.pdffxintegritypublishin
Advancements in technology unveil a myriad of electrical and electronic breakthroughs geared towards efficiently harnessing limited resources to meet human energy demands. The optimization of hybrid solar PV panels and pumped hydro energy supply systems plays a pivotal role in utilizing natural resources effectively. This initiative not only benefits humanity but also fosters environmental sustainability. The study investigated the design optimization of these hybrid systems, focusing on understanding solar radiation patterns, identifying geographical influences on solar radiation, formulating a mathematical model for system optimization, and determining the optimal configuration of PV panels and pumped hydro storage. Through a comparative analysis approach and eight weeks of data collection, the study addressed key research questions related to solar radiation patterns and optimal system design. The findings highlighted regions with heightened solar radiation levels, showcasing substantial potential for power generation and emphasizing the system's efficiency. Optimizing system design significantly boosted power generation, promoted renewable energy utilization, and enhanced energy storage capacity. The study underscored the benefits of optimizing hybrid solar PV panels and pumped hydro energy supply systems for sustainable energy usage. Optimizing the design of solar PV panels and pumped hydro energy supply systems as examined across diverse climatic conditions in a developing country, not only enhances power generation but also improves the integration of renewable energy sources and boosts energy storage capacities, particularly beneficial for less economically prosperous regions. Additionally, the study provides valuable insights for advancing energy research in economically viable areas. Recommendations included conducting site-specific assessments, utilizing advanced modeling tools, implementing regular maintenance protocols, and enhancing communication among system components.
Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
Learn about the cost savings, reduced environmental impact, and minimal disruption associated with trenchless technology. Discover detailed explanations of popular techniques such as pipe bursting, cured-in-place pipe (CIPP) lining, and directional drilling. Understand how these methods can be applied to various types of infrastructure, from residential plumbing to large-scale municipal systems.
Ideal for homeowners, contractors, engineers, and anyone interested in modern plumbing solutions, this guide provides valuable insights into why trenchless pipe repair is becoming the preferred choice for pipe rehabilitation. Stay informed about the latest advancements and best practices in the field.
This document is by explosives industry in which document discussed manufacturing process and flow charts details by nitric acid and sulfuric acid and tetra benzene and step by step details of explosive industry explosives industry is produced raw materials and manufacture it by manufacturing process
A case study of cinema management system project report..pdfKamal Acharya
A computer reservation system or central reservation system is a computerized system used to store and retrieve information and conduct transactions related to air travel, hotels, car rental, or activities. These systems typically allow users to book hotel rooms, rental cars, airline tickets as well as activities and tours. They also provide access to railway reservations and bus reservations in some markets, although these are not always integrated with the main system. For these systems to be accessible on mobile phones and computers outside the premises of the airport, cinema, train station or stadiums, they need to be on the internet or a network.
This project focuses on the design and implementation of a web based cinema management system for the allocation of seat tickets online. The system would feature the registration of users, use of serial numbers and pins gotten from scratch cards sold and a printed slip. The system would have a store of all the seats and automate the generation of fresh serial numbers and pins.
Automobile Management System Project Report.pdfKamal Acharya
The proposed project is developed to manage the automobile in the automobile dealer company. The main module in this project is login, automobile management, customer management, sales, complaints and reports. The first module is the login. The automobile showroom owner should login to the project for usage. The username and password are verified and if it is correct, next form opens. If the username and password are not correct, it shows the error message.
When a customer search for a automobile, if the automobile is available, they will be taken to a page that shows the details of the automobile including automobile name, automobile ID, quantity, price etc. “Automobile Management System” is useful for maintaining automobiles, customers effectively and hence helps for establishing good relation between customer and automobile organization. It contains various customized modules for effectively maintaining automobiles and stock information accurately and safely.
When the automobile is sold to the customer, stock will be reduced automatically. When a new purchase is made, stock will be increased automatically. While selecting automobiles for sale, the proposed software will automatically check for total number of available stock of that particular item, if the total stock of that particular item is less than 5, software will notify the user to purchase the particular item.
Also when the user tries to sale items which are not in stock, the system will prompt the user that the stock is not enough. Customers of this system can search for a automobile; can purchase a automobile easily by selecting fast. On the other hand the stock of automobiles can be maintained perfectly by the automobile shop manager overcoming the drawbacks of existing system.
Water scarcity is the lack of fresh water resources to meet the standard water demand. There are two type of water scarcity. One is physical. The other is economic water scarcity.
Industrial Training at Shahjalal Fertilizer Company Limited (SFCL)MdTanvirMahtab2
This presentation is about the working procedure of Shahjalal Fertilizer Company Limited (SFCL). A Govt. owned Company of Bangladesh Chemical Industries Corporation under Ministry of Industries.
Hall booking system project report .pdfKamal Acharya
PHP and MySQL project on Hall Booking System is a web based project and it has been developed in PHP and MySQL and we can manage Payment, Booking, Inventory, Booking Dates, Customers and Hall from this project.
The main objective to develop Hall Booking System PHP, MySQL, JAVA SCRIPT and BOOTSRAP Project is to overcome the manual errors and make a computerized system.
In this project, there are various type of modules available to manage Customers, Booking, Payment. We can also generate reports for Booking, Payment, Booking Dates, Hall. Here the Payment module manage all the operations of Payment, Booking module can manage Booking, Inventory module is normally developed for managing Inventory, Booking Dates module manages Booking Dates operations, Customers module has been implemented to manage Customers.
In this project all the modules like Payment, Booking Dates, Booking are tightly coupled and we can track the information easily. Ifyou are looking for Free Hall Booking System Project in PHP and MySQL then you can visit our free projects section.
We can easily get the list of wedding halls & lawns in Nagpur. Also we have detailed contact information for some particular hall. But we cannot get the availability about hall. So background behind this web portal is that it gives the area wise listing of wedding halls & lawns with the detailed information of individual and also display for particular date the hall is available or not. Just dial is the system in which we can only find the name of Hall and Lawns in city. In just dial we cannot find Halls in specific area. This system cannot show all information about any Hall. This system is not able to book the Halls online.
The A Web Based Hall Booking Management System is designed to overcome the disadvantage of previous system.We can easily get the list of Wedding Halls. But we cannot get the availability about Hall. So background behind this web portal is that it gives the area wise listing of Wedding Halls with the detailed information of individual and also display for particular date the Hall is available or not. This is a special type of web portal to easily get the information of all Wedding Halls in Nagpur which display separate calendar for separate Hall. For particular date the Hall. We can availability of Hall as well as Lawns detailed information about individuals Hall in our web portal . It provides all facilities to clients with lowest cost and lowest maintenance problems.
Student information management system project report ii.pdfKamal Acharya
Our project explains about the student management. This project mainly explains the various actions related to student details. This project shows some ease in adding, editing and deleting the student details. It also provides a less time consuming process for viewing, adding, editing and deleting the marks of the students.
3. Business Networks, Markets & Wealth
• Businesses don’t exist in isolation
– Connected to customers, suppliers, banks,
partners etc. through Business Network
– Networks cross geography & regulatory
boundary
• Wealth is sum total of value of goods &
services across business network
– Growth constrained if silo’d or inefficient
• Flow goods & services across business network
is a Market
– OPEN (fruit market, outcry commodities,
or
– CLOSED (supply chain financing, bonds)
4. Transferring Assets, building Value
• Anything that is capable of
being owned or controlled to
produce value, is considered
an asset
– can be tangible or intangible
– value can be converted
into cash.
• Cash also an asset.
• Asset examples:
– Cars, value clothes (physical)
– Bonds, securities, repurchase
agreements (intangible)
– Licenses & patents (intangible
assets)
– Music, video, games (intangible,
digital)
5. Participants, Transactions & Contracts
• A participant is a member of a
business network
– Customer, Supplier, Government,
Regulator
– Usually reside in an organization
– Have specific identities and roles
• A transaction is an asset transfer
between two or more participants,
for example
– John gives a car to Anthony (simple)
– John gives a car to Anthony, Anthony
gives money to John (more complex)
• A contract is set of conditions under
which transactions occur, for example
– If Anthony pays John money, then car
passes from John to Anthony (simple)
– If car won't start, funds do not pass to
John (as decided by independent third
party arbitrator)
$
6. Blockchain in a nutshell
Shared Contract
Cryptography
Shared Ledger
Consensus
Ensuring secure,
authenticated & verifiable
transactions
Business terms embedded in
transaction database &
executed with transactions
All parties agree to network
verified transaction
Append-only system of
record shared across
business network
Broader participation, lower cost, increased efficiency
9. Why blockchain?
Blockchains are an emerging
technology pattern that can
radically improve banking,
supply-chain and other
transaction networks, giving
them new opportunities for
innovation and growth while
reducing cost and risk.
Economic transactions on a distributed ledger
can be programmed to record virtually
anything of value: your identity, a will, a deed, a
title, a license, intellectual property, and also
almost any type of financial instrument.
“How seriously should we take this? I would
take it as seriously as we should have taken
the concept of the Internet in the 1990s.”
—Blythe Masters, DAH http://bit.ly/1JENgb4
10. Reduce costs and complexity
Participant Participant
Centralized Repository (today’s system): most participants are disconnected from their asset depository, settling
transaction would require participants to collaborate in a flow that is slow, inefficient, and expensive
…..
…
Blockchain technology offers a way for market participants to access dematerialized assets directly without always
going through other participants needlessly
Participant
Depository
Depository (assets dematerialized on shared ledger)
Trading
Platform
Trade
Repository
Custodian
Bank
…..
…
CCP
Shared Repository: all participants can interact with depository directly without going involving third parties, potentially
making post trade operations cheaper and faster
11. Financial Industry Applications best
suited for Blockchain
• Stack of Processes
– Clearing Networks
– International Transfers
– Clearing and Settlement
– auditing, reconciliation,
reporting, settlement
– Asset Ownership
• Financial Instruments
– Payments – Cross Border,
P2P, Corporate and
Interbank
– Private Equity
– Bonds
– Derivative commodities
– Trading records
– Spending records
– Mortgage/Loan records
– Microfinance
– Servicing records
12. Blockchain for Financial Market
Derivative
Contract 1
Derivative
Contract 19
Securities
Contract
Oracles
…..
…..
…..….…….
……...
…..….…….
……...
Integration Bus
Clearing/Settlement
On-chain Off-chain
…..….…….
……...
…..….…….
……...
Market
Trading Application
Off-chain
/On-chain
Oracles are off chain services
that integrate on-chain
contracts with existing
systems; network participants
do not interact with oracles
directly.
Oracle
Trading/exchange applications
can live either on-chain or
off-chain (i.e. off-chain
applications are often more
centralized, but likely offer
better latency).
Market
Final clearing/settlement of
financial assets can be
automated through smart
contracts, which have direct
access to assets defined on
chain.
Clearing/Settlement
Live Feed
Exchange
Application
Trading, clearing, and settlement functions can all be automated on a blockchain network using smart contracts and
oracles.
13. IBM – Financial Services use cases for Blockchain
Blockchain for Banking
Letters of Credit
As a bank handling letters of credit (LOC) for my clients, I need a common ledger that allows me and all counter-parties to have the
same validated record of transaction and fulfilment of conditions, so that we can increase trust and speed of execution from 4 days
to <1 day. If we can drive out 99% of the time and cost, we can offer innovative LOC solutions for a wider range of clients, including
start-ups that are “born global.
Corporate Debt
As a bank handler of corporate debt, I need a Blockchain based system so that I can pay vendor invoices for my corporate client
immediately and win the highest NET discount while immediately letting my client validate that the invoice was executed and the
money paid, and also so that I don't need to build another system for innovative factoring use cases and government oversight
measures — one API for all. I want to do this at a market-level, so that I don’t have to build one for each of my client relationships,
and so that I can spread the cost of building and maintaining the system.
Repurchase Agreements
As a repurchase agreement trader, I need a transparent marketplace of bids and asks, so that I can discover, trade, and execute
agreements with relative assurance that there will be no repudiation or other issues. I don’t want to have to be subject to the string
of counterparties exerting control over the market; rather, I want to be an equal partner in the network, trade directly, and spread
the costs/risks.
Supply Chain and Self-Executing B2B Contracts
As a corporate buyer, I want to be able to submit my purchase contract to a network I share with the supplier, which will convert the
agreement into a validated, trusted, self-executing process, so that when the PO is appended to the ledger, supply has been received,
and other events occur, the terms of the contract are automatically executed, and both the suppler, me (the buyer), our banks,
logistics partners and other stakeholders all can have visibility and be assured of proper completion of the transaction.
14. IBM – Financial Services use cases for Blockchain
Blockchain for Banking Consortia
Security Services
Security Settlement: Once financial assets are dematerialized on a shared ledger, all stakeholders will have direct
access to the asset depository and the power to settle trades, without always going through intermediaries needlessly.
Post Trade Operation: Post trade processes such as trade capture, enrichment, confirmation/affirmation, clearing, and
settlement can be automated on shared ledger, potentially reducing post trade operation time from days to seconds.
Trade Repository: By design, Blockchain is a secure record repository of ordered collection of financial transactions. It
records the history of asset control and state changes, reducing the need of maintaining a separate trade repository for
record keeping.
Capital Market
Derivative Trading: Connect potential buyers and sellers on a decentralized network. Offers placed on Blockchain
network can be automatically seen by all participants, the network will be cheaper and potentially bigger than ECNs
today because the risk and cost of maintaining the network is spread across all participants (there will not be a single
owner charging premium for maintaining the service.
Derivative Post-Trade Management: Derivatives contracts can be managed and automated through smart contracts on
shared ledger, significantly cutting down the management cost and time while reducing the intra-day risk.
Syndicated Loan: Help borrowers and arrangers to broadcast their offers to all potential investors on a Blockchain
network, and to automate the syndication process.
Trade Finance
Cross-Currency Payment: Automatically connecting market makers and bypassing intermediaries to significantly
reduces time taken for cross currency payment from days to seconds.
Card Operation
KYC: Creditor card issuers can record customer credit histories on a shared ledger so that customer information can be
easily shared (or sold) between companies.
16. IBM Blockchain 2015 Source: EverisDigital
FinTech Landscape – Disruptive Forces in Financial services
17. IBM Blockchain 2015 Source: Lets talk Payments
Blockchain Adoption – Understanding the Disruption
18. IBM Blockchain 2015
Investment Interest in Blockchain
• Blockchain has the potential to reduce
infrastructure cost by up to $20 billion a year.
• P2P money Transfer across international borders -
segment worth $500 B.
• Anderseen Horowitz ( VC firm) has invested over
USD $100 million into Blockchain technology
• All time Public/VC investment into Blockchain
startups - $894 million.
• Over 4000 active fintech startups in the NY arena
and investment in the sector tripling last year to
$12 billion.
Source – LTP,Finextra
19. Public Network Fabric
Business Adoption Challenges
1. Designed for public network
2. Slow and inefficient
3. Built-in virtual currency
4. Difficult to push upgrades
5. Heavily forked
6. Lack enterprise support
Private Network Fabric
Business Adoption Challenges
1. Incomplete & usually untested
2. Usually too simple & inflexible
3. Still lack critical enterprise features
such as identity management system
4. Generally lack community support
5. Not standardized
There are two options for building private network for businesses 1) Reconfigure a public network
fabric for private use, or 2) Build on top of a untested private network fabric that’s available
Why isn’tblockchain ready for business?
20. IBM brings the advisory capabilities as well as necessary tools …
World Wide Cloud with Government Certification : one-click international multi-node geographic
deployment of validating Blockchain peers that can be assigned to parties in the network, all on
Softlayer.
World experts in identity and cryptography research, significant IP in works.
World leader in business rules processing.
Domain experts in financial services, government systems, and supply chain.
…to execute in this field:
Identity, Certificates: In order to transact on the Blockchain without exposing strategic
information to others, a party’s identity must be both transparent to the party it’s transacting
with while opaque to others. This requires sophisticated identity management, which IBM is
researching and developing.
Inter-network services: In addition to identity management, current Blockchain platforms are
challenged in enabling cross-ledger services. Say, for example, a bank performed KYC on a
merchant in one network, and now the same bank is working with the same merchant in another
network. Why do KYC twice? IBM can provide the support for this and other cross-network
managed operations.
IBM – What we bring and what needs to be done
23. Phases of Blockchain Innovation
2
3
D
e
c
.
9
,
2
0
1
1
Business Value
Add services
Overlay Services
Pioneering
These include exchanges, wallets, and consumer and merchant services.
Bitcoins, alt-coins, the initial stage of blockchain fabric technology
Business value-add services and blockchain applications. These include embedded
transactions, collateral networks (such as Interledger), conditional payments, and
smart contracts and business applications that leverage the overlay networks.