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

3. Blockchain Fundamentals
Agenda 1
Blockchain Fundamentals 2
Blockchain Features 3
Pros and Cons of Dapps 4
Use-cases 3

4. 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

5. 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

6. 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

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

8. Bitcoin 8

9. 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

10. 10
website.com

11. 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

12. 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

13. 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

14. 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

15. 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

16. BlackBerry's Famous Last Words At 2007 iPhone Launch: 'We'll Be Fine'
Thank You!

17. bbcg.me
Thank You!
Thank you!

18. Security is built in Encryption of transactions Secure Hashing
Cryptography
Private key – Public key
Mining
Verification of transactions 18
Fawaz Shakralla

19. Sources