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Kamal R. Hubbard, CFE

Kamal R. Hubbard, CFE. Combating Fraud with Blockchain -Powered Authenticity. Roadmap:. Blockchain Related Definitions Luxury Goods Land/Real Property Art, Film & Music. What is Blockchain ?. What are Smart Contracts?. What are Zero-Knowledge Proofs?. Luxury Goods. Fashion:.

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Kamal R. Hubbard, CFE

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  1. Kamal R. Hubbard, CFE Combating Fraud with Blockchain-Powered Authenticity

  2. Roadmap: • Blockchain Related Definitions • Luxury Goods • Land/Real Property • Art, Film & Music

  3. What is Blockchain?

  4. What are Smart Contracts?

  5. What are Zero-Knowledge Proofs?

  6. Luxury Goods Fashion: Diamonds

  7. Diamonds • Blockchain improves the ability to track and trace diamonds from the mine to the jewelry store. • Provides transparency and trust between diamond offices producers, graders, retailers, governments, and law enforcement. • Blockchainalso helps to reduce/eliminate the trade of conflict diamonds.

  8. Diamonds (cont.) • Conventional Proof of Ownership for diamonds is relegated to pen and paper. • A digital ledger that houses unique identification data points like cut, clarity, color, and carat and others can help to create a digital fingerprint for each jewel.

  9. Fashion & Apparel • Smart chips are embedded in luxury items that track them through the supply chain with the help of other IOT devices and after the sale to the customer a mobile phone application can assess the authenticity of the product. • Since the product information is on the blockchain, there is almost no chance of a counterfeit.

  10. Fashion & Apparel (cont.) • Smart contracts can manage payments between designers, suppliers of materials, distributors, and retailers. • Zero-knowledge proofs can have the ability to enhance privacy between buyers and sellers in the secondary market.

  11. Land / Real Estate • Why do we need land on the blockchain? • In many countries around the world, land ownership is poorly recorded and enforced.

  12. Land / Real Estate (cont.) • California is as a test market for a decentralized property listing data management service utilizing smart contracts to administer: • Title information • Deed Information • Identity

  13. Art • Existing problems in the art industry include: • Forgeries • Other Intellectual Property Issues • Limited Markets that lead to lack of liquidity and market manipulation.

  14. Art (Cont.) Blockchain has the ability to: • Establish provenance • Decentralize and democratize markets • Simplify logistics • Minimize the risks on all sides of a transaction (smart contracts)

  15. Art (Cont.) Provenance is the idea that an object has documented evidence that it has not been altered, forged, or stolen.

  16. Art (Cont.) The need for blockchain and smart contracts in convention markets: • A smart contract can outline the responsibilities of all sides, institute insurance, and limit liability in case of loss or destruction.

  17. Art (Cont.) • Blockchain can tokenize artwork to facilitate payment and track transactions. • Blockchain can also assist in the establishment of decentralized art markets (increase liquidity). • Reduce friction and intermediaries.

  18. Video & Film Content creators will be able to secure their IP, live stream videos, music, and broadcasts without any border restrictions or limitation. Publishers will be able to store their encrypted content on the blockchain with enhanced digitization through the use of decentralized cloud storage and shared resources for viewing quality.

  19. Video & Film (cont.) Content creators and their subscribers will be able to connect directly and receive access to content and payments without any third-party intervention that can impose extra charges or censorship.

  20. Music • Minimize Piracy • Democratize rights • Disrupt current markets • Allow faster payments to artists • Track consumption and new trends

  21. Then Came Coinye!

  22. kamal.hubbard@alt.market

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