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1Copyright © 2017 Accenture All rights reserved.
Blockchain Executive IntroTechnology innovation ForumMarch 29, Utrecht
Copyright © 2017 Accenture All rights reserved. 2
1. What Every CEO should know about Blockchain
2. Areas of Applications
3. A Short Use-Cases Walkthrough
4. Accenture, Your Blockchain Partner
Copyright © 2017 Accenture All rights reserved. 4
BLOCKCHAIN AND DISTRIBUTED LEDGERTECHNOLOGIES
“As humans, we find ways to lower uncertainty about oneanother so that we can exchange value”1
Distributed ledger technology (or Blockchain) enables almost-real-time consensus, traceability, visibility over Assets, Dataand Processes… While disintermediating value exchanges.
The power for consolidation without trusted third party ofBlockchain can reform our financial markets, supply chains,consumer payments, marketplaces, ….
What is Blockchain and how does it Impact Insurances?
1 Quote by Bettina Wardburg, TED talk
Copyright © 2017 Accenture All rights reserved. 5
Introduction
Sending Information over The Internet: Ethernet Protocol
The Information is sent FROM an address, TO an address.
FROM TO
TOFROM
message message
No Possibility for Tracking Changes
No Built-in Trust Mechanism
A lot of uncertainty …
Copyright © 2017 Accenture All rights reserved. 6
Introduction
How do we lower this Uncertainty Today?
• Management by a Central Authority
• Central Ledgers to Insure Traceability
So what?
• Unnecessary Intermediaries?
• Limited Performances of a Central System?
• Limited Performances of a network of Such Systems ?
… Delays and Lack of Synchronized View
… Lack of transparency and accessible audit trails
… Transaction Costs, Time, …
Central Ledger
Bank
Mail Provider
Copyright © 2017 Accenture All rights reserved. 7
Introduction
Sending Information over the Internet: Blockchain Protocol
Change in mindsets over the last 10 years, … from central authorities to communities
The Information is sent FROM an address, TO ALL(the messages specifies the receiver)
V V
V
V
V
V
VV
V
The Blockchain Protocol Digitizes Trust by placing the verificationsin the hands of a consensus decision between n participants
December
2008
Copyright © 2017 Accenture All rights reserved. 8
ROUGHLY 8 YEARS LATER$24,475,090,043 WORTHOF CRYPTO ASSETS
BITSTAMPUSD
21/03/2017 12:00
Bitcoin is 70% of Crypto Assets Market Cap
1BTC = 990€
Copyright © 2017 Accenture All rights reserved. 9
Introduction
Participants of a Blockchain collectively maintain a distributed shared Ledger
> Keeping track of Who did What When> Keeping track of Who did What How> Validating according to certain Rules Agreed Upfront
10101
10101
10101
10100
10101
10101
Copyright © 2017 Accenture All rights reserved. 10
Introduction
Different type of Blockchains:
Public
Anyone in the world can read/send/see and validate transaction but also participate in
the consensus process
Consortium
Permissions to participate in the Blockhain (and how to participate) are based on consensus process within a pre-selected set of nodes
Private
Permissions to participate in the Blockchain (and how to participate) in the Blockchain are
centralized to one organization.
Testnet Internal NetworksCross Department
Copyright © 2017 Accenture All rights reserved. 11
Functional AdvantagesProgrammable Technology
Securely Transmitting Information
Without the Control Central Authorities.
Trustless Exchange of information Between Parties
Fast, 24/7, and low Cost Transactions
Simplifying Large Ecosystems
Immutability & Transparency of Data Exchanges
Users are in Control
Insuring Integrity of Processes
No Central Point of Failure
Decentralised databases & Decentralised Applications
Administered through consensus
Cryptographic algorithms to ensure integrity
Copyright © 2017 Accenture All rights reserved. 13
Applications of Blockchain
Identity
Identity
KYC, Certification, Fraud Register, …
FacilitationFacilitation
Clearing, Notary, Auditing, …
Marketplaces
Virtualized Platforms
Virtualized Marketplaces, …
Ownership
Digital Assets
IP, Contracts, Asset Registry, Supply Chains…
Payments
Payments
Ledger Reconciliation, Cross-Border, …
ContractsSmart Contracts
Administration, Self-Executing Contracts, …
Copyright © 2017 Accenture All rights reserved. 14
Applications of Blockchain
Blockchain Tech to be
Researched by US Food and
Drug Administration
Blockchain Technology
Explored for US
Homeland Security
Nasdaq Moves Forward
With Blockchain-Based
E-Voting
Report: China’s Banks
are Turning to
Blockchain Technology
Swiss Bank & German
Energy Company Partner
to Deliver Blockchain
Wallets for Cars
U.S. Financial Regulatory
Agency Explores
Blockchain’s Impact On
Securities Trading
Commodities Trading Giant
to Test Blockchain Tech with
Crude Oil Cargo
American Express Wants “Full
Advantage of Blockchain”,
Joins Open-Source
Hyperledger Project
China’s Central Bank
Completes Digital Currency
Trial on a Blockchain
Dutch Banking Giant ING
Conducts 27 Blockchain
Proof Of Concepts
Blockhain Considered in
Proposal to Improve
Regulating Russia’s National
Payment System
Report: Thailand’s
Industry to Adopt
Blockchain Tech by 2018
NEWS FROM JANUARY 2017
Copyright © 2017 Accenture All rights reserved. 16
When can Blockchain be a Solution?
• Distributed Ecosystem based on Based on Digital Transaction of Information
• Lack of trustful intermediaries and/or Costly Trustful intermediaries
• Costly and slow processes of Forecasting, Rectification, Reconciliation and/or Consolidation
• High Risk linked with Legal Compliance
• High Risk linked with Traceability and Transparency (opportunity for Fraud or Disputes over the state of information)
• Complex Processes of Disputes and Reconciliation Between Parties )
Copyright © 2017 Accenture All rights reserved. 17
BUILDING INNOVATIVE PRODUCTSINSURING COMPLIANCY UPFRONT REDUCING ADMINISTRATIVE PROCESSES
No Forecast-Rectification
Full-Traceability of Information Exchange
The System only Acts according to The rules Planned
Copyright © 2017 Accenture All rights reserved. 18
The Dilemma of Every Financial Institution
• The customer Grants a company Access to ID
• The Blockchain KYC Create a Digital Fingerprint of ID and store them on the Blockchain.
• Customer ID is verified by institutions + Fingerprint are Compared.
• The Customer Stays in Control, Institution can Recycle KYC Checks of Others
• Compliancy in Insured Upfront
• Pushing Idea to Medical Data, Consumer Data, IP
Identity Management Example of KYC Processes
Copyright © 2017 Accenture All rights reserved. 19
• Providing a greater degree of
• Transparency
• perceived fairness of tariffs
• Process Automation
• Several Startups are working P2P Services such as
• Flight Insurance
• Energy Resale
• Crowdfunding
• Collaborative Supply Chains
• These Applications run through Smart Contractsthat can take automatic actions such as generatemoney transfers or action physical transactions on IoT Devices
• Blockchain makes P2P networks more transparent and trustworthyfor consumers as no central authority controls its operation.
Peer to Peer Services Example of P2P Insurance
V V
V
V
V
VV
V
V
Copyright © 2017 Accenture All rights reserved. 20
Energy Marketplaces
EV Charging Market Settlement
Vehicle to Grid Transactions
Real time customer switching of retail energy provider
Bundling of additional (non)commodity offerings
Real-time DER porting, switching and tracking capabilities
Grid as a Service model for DER exchange transactions
Wholesale Energy Marketplace
Wholesale Smart Contract Applications
Meter to Meter Payment Transactions
Peer to Peer Energy Trading Marketplace
Connected Home/Self Managing Appliances
Grid Operations Management
Stabilization of load fluctuations
IoT Enabled Asset Management
GENERATION MARKET OPERATIONS TRANSMISSION DISTRIBUTION SMART METERS RESIDENTIAL, SMB, AND C&I
Secured battery storage
Copyright © 2017 Accenture All rights reserved. 21
B2B Supply Chains Platforms
Customs
Shipping 3
Shipping 2
Shipping 1
Carriers
Freight Forwarders
Freight Forwarders
Shipping 3
Shipping 1
Shipping 2
Customs
Carriers
Production SitesWarehouses
Consumers
All the Parties in the Ecosystem are exchanging Information on the Same Regulated Medium
The Blockchain Application Insure Legal Compliance Upfront, Consolidates in near-real-time, and Automates Processes
Copyright © 2017 Accenture All rights reserved. 23
Accenture Global Blockchain Technology
Expertise Community Technology
Industry Experience
Deep Industry Knowledge applied in Use-Case Definition and Exploration
Actively working with a global 2000 to enable and solve use-case using Blockchain Technology
Facilitation of Ecosystems accelerating adoption of technology through joint development (POC, Pilots, Rollouts).
Thought Leadership
POVs on various use-cases and Technology Developments
Start-Up Alliances
Open Innovation Process to Partner with Leading Startups. Including Research Projects in our Technology Labs.
Alliances with Leading Blockchain Startups such as Ripple, Multichain, Monax (Eris), DAH
Blockchain Community Involvement
Founding member of Hyperledger Foundation
Active member in Local Blockchain Communities with regular participation to Hackathons and Meetups.
Research & Innovation
Internal Blockchain Innovation Labfocused on R&D activities
Leading Start-up solution implementation on client-priority use cases
Prototypes and Implementations
Dozens of Prototypes and PoCs developed in various industries.
Extensive Library of Technology Demonstrations
Large Enterprise Rollouts Ongoing
Copyright © 2017 Accenture All rights reserved. 24
“Blockchain is The Internet of Trust”
Blockchain and Distributed Ledgers have a huge disruptive potential in all the industries.
But what are the disruptions that will affect your organization and How can you disrupt your Industry?
Blockchain Studio NL
Assessing Blockchain and DLT Disruption ?
What are Blockchain and Distributed Ledger Technologies?
What are the Concrete impacts for your organization?
How do you develop the knowhow to create, buildand assess new business models BlockchainTechnology will generate?
Development of one use-case tailored to your context
Collaborative Development with Diverse Team
3-6 Weeks Span
Joint Innovation Process
Deliverable = Minimum Viable Product (MVP) for validation of Business-Case and Ready to Scale
Copyright © 2017 Accenture All rights reserved. 25
How?
Blockchain Studio NL
Point of View in your Industry Workshop & Use-Case Definition Collaborative MVP DevelopmentBusiness Case & Scale-Up
Assessment
Starting Point 3-4 Days 3-6 Weeks 3-4 Days
Wh
at
Assessment of Disruptions within your Industry
3-4 Days workshop in our Innovation Center for an Inspiration and Working Session to define concrete use-cases
Agile development of an MVP based on the defined use-cases. Delivery is an concrete Blockchain product that can be demonstrated
3-4 Days workshop in our Innovation Center for a debrief and demonstration of the MVP with presentation of the Business Case
Wh
o
Accenture Expert Teamcomposed of Industry Experts and Blockchain Technology Experts
Collaborative Team with key client process owners, IT architects and Accenture Blockchain Expert and Dev Team
Collaborative Team with Key Technical representative at client and Accenture Blockchain Expert and Dev team
Collaborative Team with key sponsors, technical representatives,Process/IT Owners at client and Accenture Expert Team.
Copyright © 2017 Accenture All rights reserved. 26
Our Team and Method
Blockchain Studio NL
Expert Approach on Use-Cases Definition and Validation
Clear Definition of Goals and Business-Case Assessment Method
Agile and Collaborative Development
Diverse Team Composition
• Client Business Process Owner
• Client IT Architect
• Accenture Industry Expert
• Accenture Blockchain Development Team
Learning about Blockchain and Distributed Ledger Technologies
Gaining Hands on Experience and Start with your own Blockchain Building Blocks
Assess What are the Impacts of Blockchain, Create new Business Models and Validate a Range of Use-Cases / Development Timeline
Copyright © 2017 Accenture All rights reserved. 27
Blockchain Labs NL
Our Component Oriented Blockchain Platform
Blockchain Platforms
Middleware & UI Components Library
Cloud Platform (ACP - Linux or Windows Based)
Multi-vendor Toolbox (Best Performance and Continuity)
Cloud Based Solution (Rapid Deployment on ACP)
Scalable and Flexible Technology Stack
Data Privacy and Control with our Toolbox
Copyright © 2017 Accenture All rights reserved. 28
Areas of Focus
Permissioning
Permission Systems & Engines
Flexibility
Interface with Other Systems
Scalability
Data Storage and Processing
Hybrid Solutions
Off-chain Storage & Computing
Privacy
Ledger Confidentiality
Identity
Self-Sovereignty & Validation
Immutability
Ledger Modification