Blockchain & Beyond · Blockchain & Beyond HOW BLOCKCHAIN WILL CHANGE THE WAY WE LIVE AND DO BUSINESS TRANSFORMING THROUGH EXPOTENTIAL TECHNOLOGIES Block Next Solutions LLP

Blockchain & Beyond HOW BLOCKC H AIN WILL CHANGE THE WAY WE LIVE AND DO BUSINESS TRANSFO RMING THR OUGH EXPOTENTIAL TECHNOLO GIES

Block Next Solutions LLP

• Bitcoin Doesn’t run on Just Blockchain! It’s a mixture of technologies!

• Bitcoin has enabled a new Evolution of Security!

• Internet of Trust – A New secured & revolutionized layer of trust


What is Bitcoin & Blockchain doing to us?

Why do we need Blockchain & Digital Currencies? How will it change the way we live?

• We need trust among people or organizations who are dealing with each other. Banks and Governments were the medium of trust.

• We need transparency

• We need traceability

• We need authentication

• We do not need to rely on anyone but the system

• Historic data is important in order to carry out present transactions



Digital Assets

Internet of Trust

Ownership Identity

Contracts Blockchain

Enables

Banks and Financial Institutions • 90% of the major banks are exploring blockchain technology in Europe

• Using it to simplify transaction speed and synchronizing real time transaction records

• Many banks are using IBM’s technology, there are others as well such as Corda-R3, Prime Chain etc.

• Transaction time has gone down from 4 days to few hours, in some cases few seconds.

• It enables clients to save about 95% on the fees and charges and is much faster. It has simplified mainly overseas transactions for exporters/importers.


Things banks can do with Blockchain

• Credit score

• Stop Double Finance

• Enable Secured Transactions

• Immediate Authentication – cash withdrawals

• Can assess the value of Mortgage or Goods for financing

• Smart Contracts to replace L/Cs, Bill Discounting, Forward Contracting etc.

• Global DLT Network

• Faster & Cheaper Transactions - Ripplenet


Governments Governments - Biggest data creators but also biggest consumers of data

Government - Sync of Different departments authenticating the data

Governments can have exact data and statistics can be computed in minutes and it cannot be manipulated.

Estonia is biggest example of Implementation of block chain technology as they have tremendously improved the E-Governance and data management systems.


Estonia Estonia was one of the first countries to face a major cyber attack in 2007, and hence they started looking for more secure systems for data management.

Estonia had started implementing blockchain technology in their government systems since 2012 and have moved about 90% of their systems on Blockchain today.

Today Estonia has the most secured technology installed in the governments with the help of Cooperative Cyber Defense Centre of Excellence CCDCOE.

Services like E Residency, Marriages/Divorces, Insurance, Tax Payments, Certifications, E-Voting and many more are done electronically. About 27000 People over the globe are already having digital residency of Estonia. More than 3000 Govt. Services are available digitally



Countries using blockchain in Realty • Ukraine – the government has entered into a partnership with a blockchain

provider, and passed a new law to allow foreign ownership of real estate, in the hope that foreign investment will drive up a market that has fallen by 70 per cent since 2008.

• Republic of Georgia has already agreed to use blockchain to validate all government related property transactions. Since its launch in February 2017, Georgia’s blockchain provider has helped implement property registration and has registered more than 100,000 documents.

• Sweden believes blockchain could save the Swedish taxpayer over $100 million by speeding up transactions, reducing paperwork and minimising fraud. This is an example of blockchain being utilised by an already well-established and competent land registry.

• Dubai plans to put 100% of its land and property on blockchain by 2020


How will it change the Real Estate Sector

• Property valuation & Mortgage helping financial transparency

• Faster Real Estate registrations

• Multi Party Registrations

• Direct payments of brokerages through smart contracts

• Automated EMI Payments

• Leasing international properties

• Automatic collections of rents, EMIs and Insurances

• Property Taxes, collections and payments



Repairs & Maintenance

History

Reduced Forgeries

Missing heirs

Errors in public records

Digital Wallets for payments security

deposits & Rent

Overseas Leasing Renting

Alleviate Paper Work

Reduced Stamp Duties

Blockchain

What will happen ?


Seller Title Ownership

Surveyors Plan of Land

Govt IT Dept PAN Aadhar

Card Verification

Court/Notaries

Property Deeds

Buyer Title Transfer

Revenue Dept.

Payment of Fee

Registrar Office

-Registration

BLOCKCHAIN

Buying a Land in Future Blockchain Based Systems

Tehsildar Office Land

Measurement


Alleviating paperwork

• The ‘smart contract’ concept has just been introduced by insurer American International Group (in partnership with IBM) as a way to manage complex international coverage. Another example of how it has already been used is Everledger, which is a permanent, global, digital ledger that tracks and protects diamonds, fine art and other valuable items on their lifetime journey.

• Using blockchain, Everledger provides traders, insurance companies, financiers, consumers, claimants and law enforcers with a history of an item’s authenticity, existence and ownership.

Insurance

Minimizing Fraud

Faster Claims

Underwriting

Faster Re-Insurances

No hassles to the

Beneficiary

Enhanced Scalability

Reduced turnaround

time

A New Generation/Kinds of Insurances


Digital Asset Insurance

Crop insurance New Gen

Health Insurance

IOT Insurances

Travel insurance

Offshore insurance

Blockchain

Export-Import

• Smart Contracting will replace L/Cs

• Trust between exporter and importer

• Ascertain Duties and Taxes on the Products or Services

• Customs and clearances can be simplified

• Logistics can be in sync with exporter and supply chain


Manufacturing, Industrial & Supply Chain • Tracking the raw materials and suppliers

• Certifications and Standards (e.g. Aviation, Pharmaceuticals)

• Warehousing and Store Management

• Stock Taking

• Logistics

• End User Delivery and Feedback

• Traceability – Traceable to the farmer/organic certifications

• Factory Automation

• Vendor Payments through Smart Contracting

• Blockchain-as-a-Service (BaaS) product has been launched by SAP on a new version


Problems which need solutions • Its not regulated

• Value of the network

• A network becomes more trustworthy and secure only when there are big enough members and users to it – Metcalfs Law

• Data Connectivity which slows down the Synchronization process

• Storage

• Large Energy Consumptions

• Education

• ISO/TC 307 is the only certification available



Banks

Accounting

Which sectors need Blockchain the most


Government

Real Estate

Cyber Security

KYC Aviation Financial

Institutions

Insurance

Healthcare Social Media

Identity

Manufacturing Education Supply Chain

Police Trading Settlements

IOT

Blockchain will enable:

• Proof of Identity

• Proof of Existence

• Proof of Affidavit

• Proof of Location

• Proof of Ownership

• Proof of Leads generation preventing fraud marketing


New Horizons! We don’t know what blockchain can do yet. • Programmable decision making enabling Artificial Intelligence?

• Syndicated Loans

• Offshore Funding

• Regulatory Reporting

• Anti Counterfeit Technology

• Copyright

• Insurance

• Law and Legal Framework

• Aviation


Just Imagine Synchronizing Different Sectors/Departments


Blockchain

Sale/Purchase of Goods

Automated E Way Bill

GST is Automatically

Filed

Accounts are automatically

tallied with both parties


Blockchain Technology was not planned, it just happened!

Thank You

Documents

Blockchain & Beyond · Blockchain & Beyond HOW BLOCKCHAIN WILL CHANGE THE WAY WE LIVE AND DO BUSINESS TRANSFORMING THROUGH EXPOTENTIAL TECHNOLOGIES Block Next Solutions LLP