Source: Standard and Chartered 2
Can instill confidence A decentralized database between actors – that creates permanent, They act like digital notaries empowering people to unchangeable records transact p2p 3
The World Economic Forum Global Competitiveness Report, 2015 4
10 20 30 40 50 60 0 Source: Pew Charitable Trusts Jan-01 Oct-01 Jul-02 Apr-03 Jan-04 Oct-04 Jul-05 Apr-06 Jan-07 Oct-07 Jul-08 Apr-09 Jan-10 Oct-10 Jul-11 Apr-12 Jan-13 Oct-13 Jul-14 Apr-15 Jan-16 Oct-16 Jul-17 5
EROSION OF TRUST ACROSS SECTORS & GEOGRAPHIES • Trust in all 4 key institutions – business, government, NGOs, and media – has declined • Institutions must step outside of their traditional roles and work toward a new, more integrated operating model that puts people at the center 6
7
Hernando de Soto Bill Tai Jemma Green Michael Casey Chairman Founder Co-Founder Senior Advisor INSTITUTE FOR LIBERTY MAI TAI GLOBAL POWER LEDGER MIT MEDIA LAB AND DEMOCRACY Gigi Brisson Paula Guedes Daniel Gasteiger Lars Rasmussen Co-Founder Founder & CEO Founder Co-Founder ATTRACTOR VENTURES ATLZ GROUP PROCIVIS AG WEAV MUSIC Sandra Ro Wang Wei Jim Newsome Tomicah Tillemann CEO, GBBC Founding Chairman Founding Partner , Delta Strategy Group Chairman of Board, GBBC Fmr Exec Dir Digitization CHINA M&A ASSOCIATION Former Commissioner Founder, Blockchain Trust Accelerator CME GROUP CFTC NEW AMERICA Toomas Henrik Ilves George Kikvadze Elizabeth Rosiello Valery Vavivov Former President Vice Chairman Founder & CEO Founder & CEO ESTONIA BITFURY GOUP BITPESA BITFURY GROUP Laurent Lamothe Yew Kiat Phang Eva Kaili Dante Disparte Former Prime Minister CEO Member of EU Parliament CEO & Founder HAITI CHONG SING HOLDINGS Greece Risk Cooperative GROUP 8
9
10
11
2017 2018 2019 • • • Cryptocurrencies Commercial + Growth Market stability • • • ICO Mania “Crypto winter” Regulatory movement in key • • Limited real-world Infrastructure evolution jurisdictions use cases • Increase in real-world • Progress scaling use cases solutions • Impact across industries and geographies 2018 2017 2019 12
13 13 13
14 14 14
15
What’s wrong with the existing solutions? Who or what is maintaining the status quo? How will this technology address that? Why doesn’t any existing technology do so? What’s the deployment strategy? What change are we asking of users? 16
Increased Confidence Ease of Audit Trust is built into the very Audits can be conducted by any member of the network – simple, framework of the technology inexpensive verification Increased Security Once verified, data recorded in Greater Efficiency the Blockchain cannot be Eliminates intermediaries, changed reduces transaction costs, and mitigates risk 17
18
How can we make financial transactions more efficient & secure? Blockchain System – 10 minutes Current System – 2 days Client Client Built-in data privacy and Slow transactions due to minimal fees compliance (KYC / AML) Bank Phone Bank Bank Adoption of blockchain Dependence on platform reduces operating intermediaries costs Payment costs significantly Blockchain system users Regulator Regulator Inefficient and Real-time regulation and ineffective mechanisms streamlined, automatic Bank Phone for monitoring auditing 20
Blockchain delivers: Transparency, Accountability, Security and Efficiency Beyond Fintech • Trade Facilitation • Supply Chains • Digital Rights • Asset Tracking • Pay for Performance • Identity • Business Processes • Title Records BLOCKCHAIN BLOCKCHAIN • E-commerce • Equity / Project • Remittance Finance • Microfinance • Debt & Derivatives • Crowdfunding / ICOs Fintech FINTECH SOLUTIONS 21
22
How can we secure the safety of supply chains? Current System Raw Blockchain System materials Manufacturer Manufacturer Transparent audit on the blockchain Opacity surrounding origin of mitigates risk goods and materials shipped by manufacturers Intermediaries Intermediaries Manufacturer Smart contracts outline responsibilities Introduce complexity and of each participant in the chain using additional points of failure in unambiguous language the system Client Suppliers Client Clients must prepay Payment is transferred when goods are received and recorded 23
24
Aviation and potential blockchain applications: PEOPLE SUPPLY CHAINS & LOGISTICS SAFETY, SECURITY & REGULATIONS • • • Identity / Credentials Management - Flight Records Systems Security – Identity Management (customers, employees, Identify & verify ‘credentials’ of e.g. Malaysia Airlines Flight 370 suppliers, partners) people and institutions) March 2014 • • • Tokenisation - Loyalty Miles ‘Real Time Track & Trace’ – Data Sharing & Analytics – as Digital Money and Gaming Counterfeiting / Fraud Mitigation, Enables faster info flow across Increase Transparency agencies & stakeholders – • Bundled Services ‘BUREAUCRACY KILLER’? • Management – Improve Data Analytics – Improve information • customer experience; sharing for regulatory & ROI benefits Insurance & Financing - mitigate overbooking issues Integrated digital financial • Aircraft Leasing / Insurance services to improve risk analysis; fraudulent claims reduction
Potential Risks: • Multiple Blockchains’ Interoperability Issues • Regulations & Jurisdictional Arbitrage (similar to financial services) • Technology Convergence Implications (AI, IoT, Quantum Computing, Robotics, Blockchain) • New Technology Leapfrogs Blockchain • Too Much Hype, Not Enough Doing! • We Recreate GAFAA World 26
27
28
Concept credit to The Starfish and the Spider, Ori Brafman and Rod A Beckstrom 29
30
Recording data on a New interoperable Blockchain technology Coca Cola will be able to blockchain-based blockchain based system protects the closely monitor the registry of registry and its users from labor recruitment practices of leads to increased employment efficiency and security contract-switching and subcontractors and ensure contracts related abuse by malicious transparency along their actors labor supply chain. 31
32
33
For more information about the GBBC, please contact us: info@gbbcouncil.org www.GBBCouncil.org Geneva Location: DC Location: 20 Rue De-Candolle 700 Pennsylvania Ave SE 1205 Geneva, Switzerland Washington, DC 20003 36
Recommend
More recommend
