SES ESSION ON 4 - CONSOR SORTIA IA ROUND UNDTABLE LE AND ND THE E FUTURE URE OF BLOCK CKCHA CHAIN IN August 21, 2019
SPEAKER KERS Amy y Y. Wan Ad Adrien enne e Valen encia Garc rcia Jay Hull Nita Sanger ger Founder & CEO Senior Blockchain Counsel Strategy & Operations Chief Executive Officer Sagewise IBM Integra Ledger Idea Innovate Consulting 2
CONSORTIA
WHY WE NEED D CONSORTIA IN BLOCKCHA HAIN Blockchain requires getting all players in the ecosystem to work together, many of whom traditionally compete, to; • Solve common business challenges; • Serve customers more effectively; • Establish common industry standards; • Host multiple nodes globally; and Address regulatory, security and privacy issues. • THIS S DRIVES VES THE NEED ED FOR CONSO SORTIA IAS, S, WHICH CH WILL L INITIALL LLY Y BE INDUSTRY-FOCU CUSED SED 4
BLOCKCHA HAIN N CONSORTIA BY INDUSTRY 5
CONSORTIA JOURNEY EY MAP Three phases of “Go to Market” for a consortium Phase e 2 - Prod roduc uction on Ready dy Solut ution on Member recruitment Phase 1 - Pilot t Operational Governance Pilot – Real Transactions Value added services strategy Legal entity set up Production deployment Funding model Phase 0 MoU Monetization Policy Use Case Application maintenance Business Case MVP + Integration MVP 0 to existing systems New feature releases IP Terms Cross network interoperability Regulatory compliance Membership Policy Help desk and operational support Network growth analytics 6
SUCCESS FACTORS IN BUILDIN DING A CO CONSORTIUM Clear defini nition on around nd gov over erna nance e and alignment of the consortium’s goals and stakeholders’ interests need to be agreed upon early on in the journey Establishing an operating body to decide on legal framewor ork( k(to o addres ess disput utes es, liability, complianc nce) e), member ershi hip managem emen ent (includes udes fe fees, monet etization on policy and ex expans nsion) on) and technol nolog ogy steering ng committee ee (architec ecture, e, security, data privacy) will be critical to consortium’s longevity. Blockchain technol olog ogy is ev evolving ng fast, it is critical to adopt an open en architec ectur ure. e. Busine ness networ ork k design n needs ds to be inclus usive e and ex extens nsible. e. Buildi ding ng and implem emen enting ng produc duction on Blockc kcha hain n networ ork k is complex – make sure partners have proven experience and expertise to implement the business network. 7
INDUSTRIES ES DRIVIN VING G ADOPTION N OF B BLOCKCHA HAIN Top Industri tries s Driving Ad Adoption High of Blockc kchain Public • Public Sector Sector • Financial Services Average • Healthcare TMT Healthcare Financial • Other Services Agriculture Utilities Retail Insurance - Supply Chain Automotive Transport - Food Safety and Origin Mining Property - Real Estate Title Registry Manufacturing - Media Digital Rights Management Arts & Recreation Low High Feasibility 8
IBM FO FOOD TRU RUST What? ▪ Traceability of food from “farm to fork” How? ▪ Blockchain holds history of food items processed through entire supply chain Offer ering ngs ▪ Product Recall Assistant ▪ Free Data Entry & Access ▪ Certificate Manager Benefi efits ▪ Increased trust – multiplied by each participant in food supply chain ▪ Pinpoint source of compromised food, reducing the unnecessarily broad recall ▪ Improved co-ordination in food supply chain 9
IBM DIGITAL TRADE FINANCE What? International trading system for major world banks including Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Société Générale and UniCredit How ow? Connects all parties involved in international trade; allows banks to extend services and provide more efficient use of capital; allows rapid deployment of smart contracts; and enables accurate trading posture information, order to settlement control, risk coverage, track/trace options Offer ferings Self service - Small & Medium Enterprises Financing Future offerings = KYC, Large Corporate Financing, Trade Insurance Benef efits Near-real time exchange of information Continual business / compliance readiness Scalability that allows for rapid global expansion 10 10
IBM TRADELENS PLATFORM What? ▪ Digitizing the global supply chain Inland Transportation How ow - Connec ects the ecosystem em Brings together all parties in the supply chain onto a Blockchain-based platform with a secure Customs Shippers / Beneficial Brokers permission and identity framework Cargo Owner Drives es true info formation on sharing ng Supply Chain Visibility Systems Provides for the seamless, secure sharing of Customs Systems real-time, actionable supply chain information across all parties to a trade Trade THE PLATFORM WILL BE BUILT ON AN OPEN Associations Ports and Fosters collabor oration on and trust Terminals TECHNOLOGY STACK AND IS UNDERPINNED Enables the digitization and automation of the BY BLOCKCHAIN TECHNOLOGY cross-organization business processes integral Supply Chain / Transportation to global trade, including import and export Ocean Carriers Management Systems clearance Spurs innovation on Authorities Freight Forwarders Lays the foundation for ongoing improvement / 3PLs and innovation through an open, non-proprietary Port Community API, the use of standards and promotion of Systems; Terminal Financial / Insurance Operating Systems interoperability, and the launch of an Services Applications Marketplace 11 11
CROSS - ETHEREU EUM M ENTERPRISE PRISE ALLIANCE Purpos ose: e: The Enterprise Ethereum Alliance is a member-driven standards organization whose charter is to develop open, blockchain specifications that drive harmonization and interoperability for businesses and consumers worldwide. Gov over erna nance: e: EEA has various membership “classes.” Class A members make up the Board of Directors. Cost: Minimum $3,000/year, up to $25,000/year depending on the size of organization. Requi uirem emen ents to Participate: e: None noted on the website. Wo Worki king Groups: Both technical and special interest groups available. Blockc kcha hain n Ecosystem em: Ethereum. Educationa onal Conten ent: Webinars, online courses (fee), in-person courses (fee), videos, blog, technical documentation. 12
CROS OSS - GLOB OBAL BLOCK OCKCHAIN AIN BUSIN INESS COUN UNCIL Purpos ose: e: The organization brings together innovators and thought-leaders from over 50 countries to further adoption of blockchain technology by engaging and educating regulators, business leaders, and lawmakers on how to harness this groundbreaking technology to create more secure, equitable, and functional societies. Gov over erna nance: e: Independent Board of Directors. Cost: Membership appears to be tier based, however the website does not describe the tiers, costs, benefits, etc. Requi uirem emen ents to Participate: e: Website indicates applicants are carefully vetted by leadership but doesn’t describe the vetting process or criteria. Worki king ng Groups: Working groups available based on industry verticals. Blockc kcha hain n Ecosystem em: Blockchain agnostic. Group is focused on education and adoption rather than technology development. Educationa onal Conten ent: Legal and regulatory updates for law firms, use case library, and other events. 13
STANDARDS DS - ACCORD PROJEC ECT Purpos ose: e: The Accord Project is an open ecosystem enabling anyone to build smart agreements and documents on a technology neutral platform. Gov over erna nance: e: The Accord Project is governed through the Linux Foundation — the leading organization for the management of open source software projects — and an Advisory Board. The codebase is maintained by a Technical Steering Committee and open source contributors. Cost: Free. Requi uirem emen ents to Participate: e: None noted on the website. Worki king ng Groups: Technology working group available. Blockc kcha hain n Ecosystem em: Blockchain agnostic. Educationa onal Conten ent: Webinars, technology calls, meetups, and other events. 14
FINANCIAL - R3 R3 Purpos ose: e: R3 is an enterprise software firm working with a network of over 200 banks, financial institutions, regulators, trade associations, professional services firms and technology companies to develop on Corda, its blockchain platform designed specifically for businesses. Gov over erna nance: e: Independent Board of Directors. Cost: Substantial (six figures). Requi uirem emen ents to Participate: e: None noted on the website. Worki king ng Groups: R3 has tracks for participants depending on interests. R3 also hosts the Legal Center of Excellence as a platform for the global legal community to get the latest updates and share best practices regarding blockchain technology and R3’s blockchain platform Corda. Blockc kcha hain Ecosystem: em: Blockchain agnostic. Educationa onal Conten ent: Podcasts, blog, videos, CordaCon conference (2-day). 15
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