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Real and Existing Blockchain Applications

Real and Existing Blockchain Applications. Some Examples out of Reality. Michael Oswald Senior Consultant. Agenda. Swift POC Findings Conclusion More Holes than a Golf Curse Open Public Blockchain Usecases Fizzy Powered by AXA Decentralized Marketplaces Why?

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Real and Existing Blockchain Applications

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  1. Real and ExistingBlockchainApplications • SomeExamples out of Reality • Michael Oswald • Senior Consultant

  2. Agenda • Swift POC Findings Conclusion More Holes than a Golf Curse • Open Public Blockchain Usecases • Fizzy Powered by AXA • Decentralized Marketplaces Why? Conflict Resolution Strategies Status • Summary • Q & A • Blockchain State 2018 • Territories and Industries • Adaption • Major Challenges • SpecificChallengesfor Swiss Regulators • PermissionedBlockchainUsecases • We.Trade Vision and Facts Fees in Comparison • Tradelens Vison Current State • Blockchain@Walmart Problem Pilots Real and Existing Blockchain Applications

  3. Blockchain State 2018 Real and Existing Blockchain Applications

  4. Territories and Industries Real and Existing Blockchain Applications

  5. Adaption Resultsfrom 600 Executivesfrom 15 Territories (PwC Global Blockchain Survey): Gartner: • Business Revenue $3 Trillion by 2030 • 10% - 20% Global Economic Infrastructure on Blockchainbased Systems by 2030 Real and Existing Blockchain Applications

  6. Major Challenges • “Blockchain’s benefits are best released when different industry participants come together to create a shared platform” Real and Existing Blockchain Applications

  7. SpecificChallengesfor Swiss RegulatorsArbeitsgruppe Blockchain/ICO Schweiz • Access toBankaccounts • RequirementofWritten Form (Schriftformerfordernis) in Transfer of Values • Minimal RequirementsforBlockchains? • Bankruptcy Law – Data Access (Private Keys) • Anti Money Laundering • DecentralizedExchanges • Non-Custodian Wallet Providers Real and Existing Blockchain Applications

  8. PermissionedBlockchain Use Cases On HyperledgerFabric Real and Existing Blockchain Applications

  9. We.Trade – Vision and Facts Helps Small and Medium Sized Enterprises (SMEs) increase trade across the continents and provide easy access to trade finance  Facilitates Trade Initiation  Less Back Office Administration  Generates new Revenue Streams for Banks • 7/24, Paperless, International Trading Platformfor SMEs • Joint Venture of 11 European Banks (Santander, HSBC, Societe Generale…) • July 3, 2018: «The first live tradehastakenplace» Real and Existing Blockchain Applications

  10. We.Trade – Fees in Comparison We.Trade • $15 Monthly Fee • 5.5% ofeach Total Purchase/Sale • 6% Monthly forany Negative Trade Balance Coinbase • $0 Monthly Fee • 1.49% ofeach Total Purchase/Sale • Free/0.15 Euro Sepa In/Out Binance • $0 Monthly Fee • 0.1% ofeach Total Purchase/Sale • 0.0005 BTC Withdrawal Fee Real and Existing Blockchain Applications

  11. Tradelens - Vision “TradeLens is an open and neutral industry platform underpinned by Blockchain technology, supported by major industry players” • Joint Venture  Pre-ExistingCollaboration Agreement (IBM and Maersk), new Members canJoin • 1/5 of Transportation Costis due toDocumentation Real and Existing Blockchain Applications

  12. TradelensCurrent State • Collaboration Start June 2016 • POC finished (Tracking Flowers from Mombasa to Rotterdam) • Iscurrentlytestedbyselected Partners • 94 Organizationsparticipate (Port and Terminal Operators, CustomsAuthorities, Beneficial Cargo Owners, Freight Forewarders…) • Whereismy Container: 10 Steps 5 People  OneStepone Person • 160 M Shipping Events (August 2018) havebeencaptured Real and Existing Blockchain Applications

  13. Blockchain@Walmart Problem • 600 M – almost 1 in 10 people – fall ill after eatingcontaminatedfoodeveryyear, 420 T ofthem die • $55.5 B - $93.2 B a year – Total costcausedbyfoodborneillness in U.S 20% increase in the last fouryears • $14 B by 2019 – Global Food traceabilitymarket Real and Existing Blockchain Applications

  14. Blockchain@WalmartPilots • Porkmeatfrom China • $25 M in Food SafetyCollaboration Center in Beijing • CollaborationwithTsinghua University • Mango from Mexico Real and Existing Blockchain Applications

  15. SWIFT POC Can distributed ledger technology (DLT) help financial institutions optimise the realtime liquidity of their Nostro accounts and reduce the significant operational costs associated with reconciliation? • 34 Banks participating in the POC • POC demonstrated huge progress of confidentiality, governance and security in DLT • 528 Channels (Hyperledger Fabric) were required (100 T would be needed converting al existing Nostro relationships) • No doubt if DLT reaches maturity, rather when! Real and Existing Blockchain Applications

  16. SWIFT Findings • There is a need for all Nostro Account Servicers to migrate from batch to realtime liquidity reporting and processing – Only 44% have it • While the DLT application could provide a platform to share the information, there is significant work and investment required by all banks to upgrade their back office applications to feed the platform with real-time updates – This is not going to happen anytime soon without business requirement • A value proposition for each market segment catering for different levels of sophistication, automation of operations and past investments is key to ensure industry-wide adoption and coexistence, hereby delivering maximum value - One Size fits it all won’t work • Unique identification of each entry is the cornerstone of any liquidity and reconciliation solution - For this model to work not only must payments systems be re-engineered but many others too Real and Existing Blockchain Applications

  17. SWIFT Conclusion • Large firms don’t need it, because they have the functionality already • Small firms don’t need it because they don’t require real-time functionality • Every system in every firm that generates monetary movements would have to be re-engineered for the benefits to be achieved Real and Existing Blockchain Applications

  18. SWIFT More Holes than a Golf Course • 2016: $81 M stolenfrom Central Bank ofBangladeshusing SWIFT Messaging • 2015: $12 M stolenfrom Banco del Austro in Ecuador • … • Credit Suisse “Bitcoin: The Trust Disruptor” • SWIFT “should watch out for the underlying blockchain technology” • Blockchain is seen as a cheap, fast and difficult-to-hack, completely automated transaction system, that delivers a more robust and distributed security architecture for banks • Argentinian Bank Masventasdrops SWIFT in favorof Bitcoin for International Settlements • Online CreditbankBitbonduses Bitcoin for international payments Real and Existing Blockchain Applications

  19. Open Public BlockchainUsecases Real and Existing Blockchain Applications

  20. FizzyPoweredby AXA • Additional Insurance for Flight Delay, whichcoverseven 2 H • June 2018 16 % of all Flights Worldwide • December 2018 70% of all Flights Worldwide • Must be Resident of France orItaly • SmartContract on Ethereum Real and Existing Blockchain Applications

  21. DecentralizedMarketplacesWhy? Problem • Honeypot – EquifaxJuly 2017, private informationof 143 M person • Regulation, LocalJruistictions, KYC • High Fees • Cut out rent-seekingmiddleman like AirBnb, Ueber, Homegate, … and replacethemwithoutomatedservices • Open – anyone (in anyjuristiction) canparticipatewithout KYC or AML • Censorshipresistance – nowaytoregulate, banorlimitatethem • Payment in Bitcoin orMonero (private Transactions) • Zero downtime • Redistribute Value tothepeoplewhocontributethemost Solution Real and Existing Blockchain Applications

  22. DecentralizedMarketplacesConflict Resolution Strategies • Twopartyescrow • 2-of-3 multisigwith a moderator • Voting basedsystems (reviewercommunity) • Rating basedsystems Real and Existing Blockchain Applications

  23. DecentralizedMarketplaces Status Real and Existing Blockchain Applications

  24. Summary • Financial Industry • Huge disruptive potential • Many working Services • Payment Services • Fiat Exchanges • Wallet Providers • DecentralizedMarketplaces • Supply Chain Management • Big Companies haverunning MVPs ofPlatformsand arerampingup • Goverments • Still many Projects withfew tangible results • Helthcare • Nothing tangible – I don’tseeanyusecase Real and Existing Blockchain Applications

  25. Many ThanksforJoining… • michael.oswald@trivadis.com

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