Topic: Sudin Baraokar Chief Mentor Bankchainbposllc.com/sites/default/files/SUDIN_Blockchain-Oman...
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Transcript of Topic: Sudin Baraokar Chief Mentor Bankchainbposllc.com/sites/default/files/SUDIN_Blockchain-Oman...
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Agenda
• Introduction to Blockchain
• Platform Architecture
• Use Cases
• Bankchain Alliance Collaboration
• Successes and Benefits realised
• Key Learnings and Best Practices
• Audience Questions and Discussion
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At the core of blockchain is:
An expanding list of cryptographically signed, irrevocable
transactional records shared by all participants in a
network. Each record contains a time stamp and reference
links to previous transactions. With this information,
anyone with access rights can trace back a transactional
event, at any point in its history, belonging to any
participant.
A Blockchain is a widely disseminated archive of data that
maintains a continually-expanding register of records fully
and reliably protected from any alteration or modification.
By 2026, the business value added by blockchain will grow to slightly
over $360 billion, then surge to more than $3.1 trillion by 2030.
Introduction to Blockchain
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Blockchain Build
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Blockchain technologies offer a new paradigm in how
businesses and individuals interact and transact, offering the
promise of transforming business and society. From its origins
in bitcoin, blockchain has evolved to become a collection of
technologies that offers the potential of value generation across
all industries. Its capabilities include the ability to:
• Represent assets digitally
• Enable new forms of value exchanges
• Interact/transact without a central authority or a middleman
• Ensure distributed copies of identical records that are
immutable and traceable
• Enable management, governance and execution of
partnerships and contracts across entities
Blockchain for the “Programmable Economy”
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Blockchain to build Marketplaces
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Blockchain Inherent Features
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Growth of Blockchain
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Blockchain Business Advantages
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DLT - The Future of Financial Services
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Value Drivers for Blockchain
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Blockchain DLT Transformation
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Regulatory Challenges
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Regulatory Ecosystem
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The New Model
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Permissioned vs Permission-less
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Strategy
Blockchain adoption will fast become mainstream in the coming years and it is
predicted that by 2030 a majority of the Financial and Fintech Services like
Payments, Settlements, Verification, Information Exchanges will be based on
Blockchain. In this sessions Sudin will highlight all the pioneering work done in
Ecosystem Development and and Collaboration in Bankchain Alliance - 30+
Member Banking Alliance for Blockchain. The Strategy involved with the focus on
Agility, Security, Emerging Tech, Interoperability, usability and need to have
Business based outcomes. This session will highlight Banks approach to
Innovations in “APIs on the Fly”, Service Virtualisation, Collaborative co-
development with Bankchain Alliance, Hackathons and the Model and Culture
change in our Technology Teams. This strategy will be shared to help cope with
Hype and Emerging Technologies, Emerging Themes, Skills Upgradation, Business
Monetisation and Ecosystem sustainability.
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• Business Outcomes
• Web Services Interoperability
• Business Monetisation
• Development Agility
• Security - Access to Startups and Developers
• How to Collaborate in the Application Development
Ecosystem
Challenges in Emerging Tech Development
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• Software Development & Engineering in the new world
• Agility
• Interoperability
• Emerging Tech
• Emerging Themes
• Skills Upgradation
• Ecosystem Sustainability
Drivers / Objectives
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• API Service Virtualisation
• APIs on the Fly
• Continuous Collaboration
• Open Stack
• Open Innovation / Alliances / Partnerships
Technology and Innovations as Enabler
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Bankchain - Collaborative Alliance of banks for Blockchain
BankChain members (in chronological order) State Bank of IndiaICICI BankDCB BankKotak BankFederal BankDeutsche BankUAE ExchangeEmirates NBDLulu ExchangeRAKBANK (National Bank of Ras Al-Khaimah)South Indian BankNational Payments Corporation of IndiaSaraswat BankRBL BankTJSB Sahakari BankCCILBank of BarodaMahindra & Mahindra Financial Services LimitedExport-Import Bank of IndiaAl Fardan ExchangeIndusInd BankRiviera Investors (NBFC)Axis BankYes BankAadhaarshila Enroll Systems Pvt. Ltd.Dubai Islamic BankAdarsh Credit Co-operative Society Ltd.BFC Group Holdings W.L.L.
Managed and operated by: Primechain Technologies Pvt. Ltd.
Infrastructure Partner: Skylark Information Technologies Pvt. Ltd.
Exclusive Cloud Partner: Microsoft
Cyber Security Advisor: Data Security Council of India
Preferred Technology Advisor: Intel
Strategic partner: MEDICIPrim Fintech Pvt. Ltd.
Preferred Legal Advisor: Jerome Merchant + Partners
Integration Partner: IBM
Bank of MaharashtraBank DhofarCitibank, N.A.Indian BankHDFC Bank
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1. Cross border remittance2. Corporate KYC and Charge Registry3. LoU, Bank Guarantees, LC & other Documentary Credits4. Employee background verification5. Document authentication, verification & storage6. Vendor on-boarding7. KYC (Individual)8. Invoice discounting / supply chain finance / factoring 9. Trade Finance (Documents)10. Non-performing assets (NPA) and other stressed assets
The BankChain Projects
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• Pooling of Technology Resources
• Building Community IP
• Cost Saves through Open Stack
• Building Internal Innovation Engines
• Sharing of Knowledge
• Co-Development of Solutions
Successes and Benefits realised
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• Fail Fast
• Understand Code
• Take the Shot
• Be patient with Hype Tech
Key Learnings
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• Collaborate
• Alliance Ecosystem
• Partnerships
• Bankable Solutions
• APIs
• Regulatory Sandboxes
Best Practices
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Joint Regulatory Sandboxes
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BFSI Sandboxes
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BFSI Patterns
http://www.bankchaintech.com/
https://bitcoin.org/bitcoin.pdf
https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=XIM12354USEN
http://www.idrbt.ac.in/assets/publications/Best%20Practices/BCT.pdf
http://www.salary.mobi/watch.php?vid=6d484cd5d
Sudin Baraokar
+91 9850173007
Blockchain Reading Material
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