Blockchain & Banking Ahmed A. Mansour MBA, PMP, ITIL, TOGAF, - PowerPoint PPT Presentation

Blockchain & Banking Ahmed A. Mansour MBA, PMP, ITIL, TOGAF, FL23, Blockchain Expert

Who thinks blockchain is the future of banking? Who can explain what blockchain is? Blockchain in Banking 2

Blockchain Key Elements Smart Ledger Transactions Contract Blockchain Blockchain for Banking 3

Blockchain for business Shared ledger SmartContract Business terms An account book of final embedded in entry in which business transaction DB & transactions are executed with recorded transactions Consensus Privacy Ensuring appropriate All parties agree to visibility; transactions network verified are secure, transaction authenticated & verifiable Broader participation, lower cost, increased efficiency Blockchain for Banking 4

A Shared, Replicated, Permissioned Distributed Ledger … … with consensus, provenance, immutability and finality Blockchain Blockchain for Banking 5

Why Blockchain Technology Unalterable Copied only Real time Tracking No Third Party Involvement Blockchain Security Technology Trusted Transaction No single Point of Failure Reduce Cost Transparency Blockchain for Banking

Distributed ledger technology such as Blockchain could boost trade by more than $1 trillion in the next 10 years. That ’ s the assessment of World Economic Forum Blockchain for Banking 7

World Economic Forum report predicts that 10% of global GDP will be stored on Blockchain by 2027 Blockchain for Banking 8

Blockchain beyond the hype: What is the strategic business value? 9 Blockchain for Banking

Granular assessments at the use case level are necessary to determine which blockchain opportunities to pursue Blockchain opportunities by industrial sector Blockchain for Banking

What ’ s holding blockchain back? Blockchain for Banking

Blockchain Technology Risks • Technology Immaturity Closer • Availability and sustainability of skills Look At • Network Effects RISKS • Security • Assumption risks Blockchain for Banking

Development timeline – where are we now ? Blockchain for Banking

Blockchain Plans : Adopted or Adopting the Blockchain? In the Gartner 2019 CIO survey: • 5% of CIOs rated blockchain as a game changer for their organizations, far below artificial intelligence, cloud, and data and analytics. Across all categories of CIO respondents (top, typical and trailing performers), • 11% have deployed or will deploy blockchain in the next twelve months. Blockchain for Banking

Blockchain Maturity According to IBM, the rate banks are adopting blockchain is ‘ far faster ’ than originally thought. It found that 15 % of the 200 global banks surveyed intended to roll out, full-scale, commercial blockchain products in 2017. It found that medium to large institutions, with more than 100,000 employees, were leading the charge. A further 65 % are expected to have blockchain projects in production within the next three years . Blockchain for Banking

Blockchain for Banking

Blockchain for Banking ? KYC & AML Trade Finance Regulatory Compliance Payment Settlement Nostro Reconciliation Syndicated Lending Blockchain for Banking

75 major banks join blockchain payments network While many in the banking sector have railed against blockchain, news has broken that 75 of the world ’ s biggest banks are adopting blockchain. The FT reports state that 75 banks, including Santander and Société Générale , are joining the Interbank Information Network (IIN), which JPMorgan, ANZ, and the Royal Bank of Canada have been trialling since September 25, 2018 Blockchain for Banking 18

Thank You 20 Blockchain for Banking