4. “A smart-contract is an event-driven program, with
state, which runs on a replicated shared ledger and
which can take custody over assets on that ledger.”
Richard G. Brown, R3CEV
3
S M A R T C O N T R A C T
5. 4
S M A R T C O N T R A C T
Transactions
Events
Smart Contract
State
Transactions
Events
Shared Ledger
6. “A smart contract is a piece of business logic that sits
within the blockchain, defining the terms and
conditions of a financial transaction.”
5
S M A R T C O N T R A C T
7. 6
F E A T U R E S
Pre-defined
Conditions
Self-executing
Built-in Triggers
Enables Automatic
Settlement
Features
15. What are the banks saying?
”The ability of smart contracts to alter the way in
which many traditional processes are performed is
potentially immense.”
14
I N D U S T R Y
16. What are the banks saying?
”Distributed ledger, blockchain technology will
disrupt trading and settlement in five years.”
15
I N D U S T R Y
17. What are the banks saying?
”Distributed ledger technology could reduce banks’
infrastructure costs attributable to securities trading
and regulatory compliance by between $15-20
billion8 per annum by 2022” 16
I N D U S T R Y
18. What are the banks saying?
”Blockchain should be considered as an invention like
the steam or combustion engine that has the potential
to transform the world of finance and beyond.”
17
I N D U S T R Y
19. Efficient Capital Markets
• Digital Issuance of Assets improves transparency
• Smart Contracts can be used to automate settlement
instructions, margin calls and other financial events
• Using blockchain significantly reduces both complexity and
cost of operating in Capital Markets
18
C O N C L U S I O N
20. THANK YOU
19
F I N
marcelo.garciacasil@dxmarkets.com
www.dxmarkets.com