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Blockchain TechnologyDemystifying a new and radical technology
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Chrysostomos FilippouMoebius Ltd, CYBT
18th April 2018
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Blockchain TechnologyAgenda
• Important facts & statistics
• What is Blockchain?
• How Blockchain works?
• Cross-Borders Payments (Use-Case)
• How Blockchain could practically support KYC/AML efforts?
• In-progress projects related to KYC/AML
• The Delaware Blockchain Initiative
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BlockchainStatistics &
Facts
Average investment in blockchain projects in 2017
$1 million
In 2024 the global blockchainmarket is anticipated to be
worth $20 billion
Source: DMR-Business Statistics
69% of banks are experimenting with
permissioned blockchain
Bill & Melinda Gates Foundation announced
plans to use blockchain to help the 2 billion people who lack bank accounts
BlockchainWhat it is not?
Blockchain is NEITHER Bitcoin NOR any other cryptocurrency
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Blockchain Blockchain
• In 2009, Blockchain was initially introduced by Satoshi Nakamoto.
“Bitcoin: A Peer-to-Peer Electronic Cash System”
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BlockchainWho is behind?
– Don Tapscott –
“The Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to
record not just financial transactions but virtually everything of value.”
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BlockchainPublic or Private
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Encryption
Mutual consensus verification
Smart Contract
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BlockchainA combination of three innovations
BlockchainBenefits
Security
Efficiency
Transparency
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Speed Quality Cost
10Source: Blocgeek
BlockchainHow it works?
Cross Border PaymentsCurrent-state pain points
Word Economic Forum 11
1. Time-consuming on-boarding process2. Vulnerable KYC (on both sides)3. Cost and delay4. Error prone
5. Liquidity requirement6. Demanding regulatory compliance
Cross Border PaymentsFuture-state benefits
Word Economic Forum 12
1. Seamless KYC (on both sides)2. FX liquidity capabilities3. Real time AML
5. Reduced settlement time6. Automated compliance
BlockchainHow it can help KYC/AML efforts?
Photos: Intellect for Design13
• Creating a single source of truth
• Digital identity
• Tracking UBO data
BlockchainA weapon against Money Laundering
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"The same innovations that power crypto-assets can also help us regulate them. To put it another
way, we can fight fire with fire."
Christine Lagarde
Photo: Cointelegraph
Blockchains In-ProgressShared Corporate KYC Project
15Photo: Pixabay
Blockchains In-ProgressDeloitte - KYCstart
16Photo: Finance Magnates
Blockchains In-ProgressBarclays Belief
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“Our belief ...is that blockchain is a fundamental part of the new operating system for the planet.”
Blockchains In-ProgressDLT a strategic priority for SWIFT
18Photo: Finance Magnates
Delaware Blockchain InitiativeDelaware law went into effect
19Photo: Finance Magnates
Thank you
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Chrysostomos FilippouMoebius Ltd, CYBT
18th April 2018
w: https://www.moebiussoftware.com
