Blockchain for Fintech

Unleashing security, and trust in services

Fawaz Shakralla – 23-OCT-2018

 Agenda

Blockchain
Fundamentals 1

Blockchain Features 2

Pros and Cons of Dapps 3

Use-cases 4

3
Part of the strategic plan of digital
transformation: investing in blockchain
technologies (Quorum) to improve products
and services specifically in payment processing
amongst others. Almost $5 billion will be
invested in blockchain based initiatives
4 Fawaz Shakralla - 2018
 Blockchain in the GCC
Emirates NBD registers cheques on a blockchain.
“This initiative will significantly strengthen our risk and
security management processes, particularly reducing
cheque fraud.” – Abdulla AlQassem Group COO
5
KFH tests blockchain cross
border payments with
Ripple
“It was the first successful blockchain financial
transaction in Kuwait conducted through the testing
environment. The live version of the service will be
deployed final approval from the Central Bank of
Kuwait
 Btech Blockchain Group

Ahmed Al-Balooshi Salah Al-Majthoob Hisham Khalifa

Group CIO for Al Baraka Banking
Group, Chairman of Digital and
Cybersecurity Committee of
Bahrain Association of Banks
6
Director, Jeyad Financial Advisory CTO, Tabeo.co.uk
Former director at Bahrain Islamic Fourteen years experience in
Bank banking covering market risk
 Bluesafe.me

7
Blockchain for insurance services
 Bitcoin - 2009

8
 Blockchain Fundamentals

1. Open Ledger 3. Blocks

Open source Has 6 to 7 transactions on it
Transactions cannot be altered Blocks are never deleted or
No central authority altered
Permanently recorded

2. Transactions 4. Decentralized
Has date/time stamp No central authority
sender/receiver No gross settlement system
An account address – hexa Transactions occur in real time

9 Fawaz Shakralla - 2018

10 www.your website.com
 Blockchain Features

SMART CONTRACTS
Automate terms and conditions of a
contract

RECORDS
REGISTRATION
Store records permanently using
DLT
Reduce TCO
Reduce OPEX
Security built in
SOLIDITY
GoLang based language enables you
to create smart contracts

11
 Blockchain Advantages & Disadvantages

No Central Authority Transactions cannot

be changed
No Authority Immutability

NA I
A N S D
51% Private nodes Security Decentralized

51% Hashing Attack Private Nodes for mining AES, Cryptography, SHA No central authority,
fully distributed

Major advantage: Cost

12
 AI for Fintech

NLP Predictive Image

Modeling Recognition
Chat Bots Gains: Gains:
Gains: Reduced Opex Reduce risk on defaults ID verification, reduce
On Call Center time to market
 Use-Cases
Security - Transparency - Trust
Cheques on
KYC Digital ID Blockchain
Gains: reduce cheque
Storing ID on Blockchain
fraud

Roaming for Telecom Bank Guarantees

Lower clearing house Reduce approval time
fees and operators costs of collateral assets

Crypto Wallets -
Genuine Products
Payments using Telcos
crypto Register original parts on
wallets – saving 3% on blockchain and reduce
costs counterfeit goods
14
 How to start

Incubator Partnership In-house

s s
Funding and support Fintech / Blockchain Blockchain experts
Of startup accelerators ventures. Connect with blockchain
Dubai Future Accelerators Blockchain for Islamic consultants
banking
BlackBerry's Famous Last Words At 2007
iPhone Launch: 'We'll Be Fine'

Thank You!
bbcg.me

Thank You!

Thank you!
 Security is built in

Encryption of
Secure Hashing
transactions

Private key –
Cryptography Public key

Verification of
Mining transactions

18 Fawaz Shakralla
 Sources
• https://www.coindesk.com/deutsche-bank-blockchain-opportunities-huge/