Blockchain for Fintech Unleashing security, and trust in services Fawaz Shakralla – 23-OCT-2018

Blockchain Fundamentals Agenda 1 Blockchain Fundamentals 2 Blockchain Features 3 Pros and Cons of Dapps 4 Use-cases 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 KFH tests blockchain cross border payments with Ripple 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 “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 5

Btech Blockchain Group Ahmed Al-Balooshi Group CIO for Al Baraka Banking Group, Chairman of Digital and Cybersecurity Committee of Bahrain Association of Banks Salah Al-Majthoob Director, Jeyad Financial Advisory Former director at Bahrain Islamic Bank Hisham Khalifa CTO, Tabeo.co.uk Fourteen years experience in banking covering market risk 6

Blockchain for insurance services Bluesafe.me Blockchain for insurance services 7

Bitcoin - 2009 8

Blockchain Fundamentals 1. Open Ledger Open source Transactions cannot be altered No central authority 3. Blocks Has 6 to 7 transactions on it Blocks are never deleted or altered Permanently recorded 2. Transactions Has date/time stamp sender/receiver An account address – hexa 4. Decentralized No central authority No gross settlement system Transactions occur in real time 9 Fawaz Shakralla - 2018

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Blockchain Features SMART CONTRACTS RECORDS REGISTRATION SOLIDITY 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

I A N S D NA Blockchain Advantages & Disadvantages No Central Authority Transactions cannot be changed NA No Authority I Immutability A 51% N Private nodes S Security D 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 Modeling Image Recognition Chat Bots Gains: Reduced Opex On Call Center Predictive Modeling Gains: Reduce risk on defaults Image Recognition Gains: ID verification, reduce time to market

Security - Transparency - Trust Use-Cases Security - Transparency - Trust Gains: reduce cheque fraud Cheques on Blockchain Storing ID on Blockchain KYC Digital ID Lower clearing house fees and operators costs Roaming for Telecom Reduce approval time of collateral assets Bank Guarantees Payments using crypto wallets – saving 3% on costs Crypto Wallets - Telcos Register original parts on blockchain and reduce counterfeit goods Genuine Products 14

How to start Incubators Partnerships In-house Funding and support Of startup accelerators Dubai Future Accelerators Partnerships Fintech / Blockchain ventures. Blockchain for Islamic banking In-house Blockchain experts Connect with blockchain consultants

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 transactions Secure Hashing Cryptography Private key – Public key Mining Verification of transactions 18 Fawaz Shakralla

Sources https://www.coindesk.com/deutsche-bank-blockchain-opportunities-huge/