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IISP CongressLondon – 19 April, 2017
The Blockchain Disruption
Presented By: John VelissariosGlobal Blockchain Technology Lead
DistributedLedgerTechnology
Blockchain&TraditionalDataTechnology
ProtectedAggregatein
FragmentedReplicated&
Can BeChanged
Shared / Mutualized
Encrypted byIdentity
Data isProtected
Data Element Levelat
ConsistentDurable&
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Blockchain – TwoTypes
Sender ReceiverTokens
TransferredTokens
Transferred
MutualizedData
Value Transfer
Share / Mutualized Data
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Blockchain
Message Based Business Models
Shared Data Access Business Models
Data is centralized, fragmented, and temporaryMessaging processes waste time
Data is distributed, shared, & durable Messaging processes eliminated ->
Shared Data models created
Blockchain – WhytheExcitement?
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Reconciliation
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TheFinancialServices
Ecosystem
‘Reconciliation’isbasedon
CCPBroker/Dealer
Firm (e.g. AM, HF, WM)
SellerBuyer
Broker/Dealer
Firm (e.g. AM, HF, WM)
Exchange
Match
Settled Trade
Custodian
ExampleTradedExchange
$ Asset
$Asset
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TheFinancialServices
Ecosystem
‘Reconciliation’isbasedon Internal
Reconciliation
Risk
Regulatory
Operations Finance
TradeCapture
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WithDistributedLedgerTechnology
CCPBroker/Dealer
Firm (e.g. AM, HF, WM)
SellerBuyer
Broker/Dealer
Firm (e.g. AM, HF, WM)
Exchange
Match
Settled Trade
Custodian
Asset$
Bi-Lateral / Multi-Lateral Platform Approach
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WithDistributedLedgerTechnology
CCPBroker/Dealer B
Firm B(e.g. AM, HF, WM)
SellerBuyer
Broker/Dealer A
Firm A(e.g. AM, HF, WM)
Exchange
Match
Settled Trade
Custodian
From To What Access
Buyer FirmA $ Buyer, FirmA,Regulator
FirmA BDA $ FirmA, BDA,Regulator
BD A CCP $ BD A,CCP,Regulator
Etc.
CCP Hosted Platform Approach
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ClearingSettlement:&
Mutualized+TokenizedBlockchain
Settlementtriggeredatanoptimizedpointintime
DVP finalized through asset exchange on a tokenized blockchain
Grosstransactionsvisibleonamutualizedblockchain
BankA BankB
BankA BankBTokenizedAssets
Transferred
Netting/TradeCompression
Transactionsbetweenpartiesenteredontoamutualizedblockchain inrealtime,withnosettlementtakingplace
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DLT/BlockchainSuitability
MultipleValidation&ControlPoints
DigitalQuality/Lineage
MultipleActors
Reconciliation
Auditability
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CrossIndustryExamples
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ManyBlockchainUseCasesAreEmergingPayments
Intra-bankTransfersCorporatePaymentsCrossBorderMoneyTransfersSmartDeviceAutonomousPaymentsPrivateLabelCryptocurrencyFXExchange
CapitalMarkets
OptimizedClearing&SettlementCollateralManagementSyndicatedLoansCorporateBondsCustodialManagementWarrantIssuance&Trading
TradeFinance
DigitalLetterofCreditLetterofCreditSettlementAutomatedBillofLadingValidationSensorTriggerSmartContractsCustomDutiesEmbeddedInsurance
Insurance
InstantClaimsDisbursementsReinsuranceSmartAdjustingPoliciesIndustryFraudUtilitySubrogationIndustryUtilityPeertoPeerInsurance
CustomerData
CreditBureauHealthCareRecordsPassports/VisaCriminalRecordsDiplomas&CertificationsEmployeeBenefits
PropertyManagement
RealPropertySharingEconomyAccessContentDistribution/AccessArtCommodities
Identity
DigitalIdentityGlobalIDKnowYourCustomerSmartDeviceIdentification/RegistrationBirthRecords
PublicServices
Cryptographice-VotingDigitalNotaryServiceLicensureAssetTitlesCensus&PopulationDynamicsRefugeeTracking
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PilotPoC
Production
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PoCPilotProduction
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BlockchainProjectsAroundTheWorld
15
2015Exploration
& Investment
2016 – 2017Early Adoption
2018 – 2024Growth
2025Maturity
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BlockchainEvolution
16
17
John VelissariosPrincipal Director
Global Blockchain Technology Lead
London, UKMobile: +44 777 540 6110Office: +44 203 701 9201
JohnVelissarios– PrincipalDirector– GlobalBlockchain TechnologyLead
JohnisanexperiencedexpertPrincipalDirectorinAccenture’sTechnologyConsultingworkforce,basedinLondon.HeispartofAccenture’sspecialistsecuritycapabilitywithover19yearsofconsultingexperienceacrossmultiplebusinessandindustrysectors.Johnhasworkedinmanygeographiesaroundtheworldbringinganinternationalperspectivetohisdeliveryteamsandclients.JohniscurrentlyleadingseveralBlockchain engagementswithtoptierglobalorganisations.
JohnisAccenture’sGlobalBlockchain TechnologyLeadworkingwithindustryteamstodevelopthefirm’sglobalBlockchain deliverycapability. John specialises in capital markets, payments and financial services but also has many years of experience in other industries. John returned from a long term leave of absence where he was the CEO of a Blockchain start-up developing leading edge enterprise grade crypto-currency wallet solutions for exchanges, hedge funds, banks and HNW individuals.
Priortohisleave,JohnwasalsotheEuropeAfricaandLatinAmericaleadforAccenture’ssecuritystrategyandriskservicespractice.Thepracticeprovidesservicesin:paymentssecurity,fraudmanagement,businesscontinuity,datalosspreventionandprivacy,riskmanagement,securitystrategy,andthreatandvulnerabilitymanagement.
JohnholdsaB.Comp.Sci.andM.Comp.Sci.degreespecialisingincryptographyandinformationsecurity.Johnisafull(founding)memberoftheInstituteofInformationSecurityProfessionals,IISP-M.Inst.ISP.
JohnVelissarios- Biography
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