Mougayar chicago blockchain_insurance presentation_nov8_2016

BUSINESS BLOCKCHAIN FOR INSURANCE: VISION OR REALITY?

WILLIAM MOUGAYAR AUTHOR, THE BUSINESS BLOCKCHAIN

DEFINING TECHNOLOGY ERAS

(C) William Mougayar, 2016.

A Technology that enables the peer-to-peer transmission of electronic value, without any intermediary.

SO, WHAT IS THE BLOCKCHAIN?


3 DIMENSIONS FOR VIEWING THE BLOCKCHAIN

▸ Back-end database that maintains a Distributed Ledger.

▸ Exchange Network for moving value between peers.

▸ Transaction Validation mechanism, not requiring intermediary assistance.

TECHNICAL

BUSINESS

LEGAL(C) William Mougayar, 2016.

MANY FACETS TO THE BLOCKCHAIN

1. Cryptocurrency 2. Computing Infrastructure 3. Transaction Platform 4. Decentralized Database 5. Distributed Accounting Ledger 6. Development Platform 7. Open Source Software 8. Financial Services Marketplace 9. Peer-to-Peer Network/Marketplace 10. Trust Services Layer


WHAT IS THE BLOCKCHAIN?


HOW TO THINK ABOUT THE BLOCKCHAIN

1. Creating / Moving Value (Assets)

2. Storing Value (Cryptocurrency)

3. Processing Transactions and Logic

1. Record Keeping, Verifications, Proofs

2. Custody, Rights, Titles

3. Identity and Naming

1. A new development environment

2. Programming money / value

3. Dealing with ledgers instead of DB’s

1. Creating new economies

2. A work/reward system

3. Sandbox for money + business


‣ In startup fashion, most attacks aren’t head-on, start small & look harmless at first sights, therefore are ignored ‣So, the banks didn’t feel FinTech

initially, because it crept up

FINTECH HISTORY MIGHT REPEAT ITSELF

BLOCKTECH in INSURANCE SERVICES VIRTUALscape by William Mougayar

INFRASTRUCTURE&BASEPROTOCOLS

MIDDLEWARE&SERVICES

Public Special

Services So0wareDevelopment SpecialAPIs SmartContracts

MinersPayment

APPLICATIONS&SOLUTIONS

VirtualCapitalVentures©20161.0

InsuranceSpecific

Source:hEp://startupmanagement.org/blog

Non-InsuranceSpecific

PlaJorms

SOME OF THE USE CASES WE ARE SEEING

1. Claims processing 2. Peer to peer insurance 3. New alternative insurance 4. Ecommerce 5. Flight insurance 6. New markets 7. Micro-insurance 8. Sharing 9. Re-insurance 10. Bond Insurance 11. Trade Finance


DIFFERENT WAYS TO IMPLEMENT THE BLOCKCHAIN

New ProductsSupporting

Existing Products

New MarketsNew Business

Models


STARTING POINTS

• Private Consortiums • Semi-Private Websites • Public Blockchains

WORKING WITH STARTUPS

‣ Partner to learn and experiment

‣ Become their customer

‣ Invest in them

‣ Buy them

‣ Don’t smother them


BLOCKCHAIN IS 90% GOVERNANCE AND BUSINESS MODELS. THE OTHER HALF IS TECHNICAL.

Yogi Berra

BLOCKCHAIN-BASED CIRCULAR ECONOMY DISRUPTING THE VALUE-WORK EQUATION

THE NEXT PHASE OF THE BLOCKCHAIN WILL BE DRIVEN BY BUSINESS

VENTURE CAPITAL IS CHANGING

FINAL THOUGHTS

‣ Your Innovation Agenda

‣ Theory vs. Implementation

‣ First generation will fail

‣ Startups: Don’t attack incumbents

‣ Token-based models have momentum, big experiment


THE 7 R’S FOR THE BLOCKCHAIN

‣ Re-Think

‣ Re-Imagine

‣ Re-Engineer

‣ Re-Start

‣ Re-Intermediate

‣ Re-Regulate

‣ Re-Invest


THANK YOUWILLIAM MOUGAYAR AUTHOR, THE BUSINESS BLOCKCHAIN

[email protected] 416-648-7010 @WMOUGAYAR

(C) 2016, ALL RIGHTS RESERVED.

mailto:[email protected]