APPLICATION OF BLOCKCHAIN IN INSURANCE, BANKING AND FINANCE REGULATORY BODIES

FLOW OF PRESENTATION ABOUT US CONSTRAINTS FACED BY THE REGULATORY BODIES AND HOW SNAPPER CAN HELP THEM   REGULATORY BODIES KYC- KNOW YOUR CUSTOMER SMART CONTRACT- GRIEVANCE REDRESSAL MECHANISM- OMBUDSMEN CENTRALISED LEDGER VS DISTRIBUTEDLEDGER TRADE FINANCE COST SAVINGS EFFICIENCY CHINALEDGER CONCLUSION

WE ARE TEAM OF EXPERTS BRIDGING ARTIFCIAL INTELLIGENCE, BLOCKCHAIN, CYBER SECURITY PROVEN USE CASES ACROSS ECOSYSTEMS.

SOME COMMON CONSTRAINTS FACED BY THE REGULATORY BODIES AND HOW SNAPPER CAN HELP THEM

REGULATORY BODIES BANKING CAPITAL MARKETS INSURANCE

KYC – KNOW YOUR CUSTOMER PROBLEMS Man power engaged in updating KYC data has been increasing every year. 70% of financial institutions and 30% of the corporate respondents have been updating their material changes in KYC status such as Ownership change. TIME Process to handle KYC takes too long— industry average of 26 days* IDENTITY- Impossible to identify client with 100% certainty WHAT SNAPPER IS DOING Usage of man power will be reduced by 40% in updating the KYC Distributed ledger will help to share the data among participating nodes Real time updating- minutes Transparency

87% of banks and 75% of investment bankers believe that regulatory and legislative change is the most influential factor for KYC

SMART CONTRACT- GRIEVANCE REDRESSAL MECHANISM- OMBUDSMEN Average cost of handling a complaint was ₹ 4396 – Implementing Smart Contract enabled redressal mechanism will reduce cost by 33%

CENTRALISED LEDGER VS DISTRIBUTED LEDGER

TRADE FINANCE

COST BENEFIT REDUCED RECONCILATION COSTS BETWEEN BANKS SAVE COSTS ON FOREX VOLATILITY SAVE COSTS OVER DELAYED SETTLEMENTS COST BENEFIT

EFFICIENCY RESILIENCE THRROUGH REDUNDANCY REDUCED TIME FOR PROCESSING FASTER SETTLEMENT Blockchain technologies could help enable greater efficiency, growth and competitive advantage.

A PROOF OF CONCEPT ChinaLedger is more of an alliance that aims to maintain a shared base platform with common features together while constructing their applications on respective implementations of the base platform. ChinaLedger will play in the development and commercialization of blockchains in China. The ChinaLedger alliance will specifically address various regulatory conflicts and work with its 11 regional commodity exchanges to establish a nationwide standard for the implementation of distributed ledger technology (DLT). ChinaLedger will work with the Internet Securities Commission of the Securities Association of China (SAC), an industrial self-regulatory body supervised by the China Securities Regulatory Commission that also functions as an advisory to the alliance.

CONCLUSION BLOCKCHAIN, IOT & SMART CONTRACTS TRADITIONAL PROCESS

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