SLIDE 1
Global Symposium for Innovative Financial Inclusion Distributed - - PowerPoint PPT Presentation
Global Symposium for Innovative Financial Inclusion Distributed - - PowerPoint PPT Presentation
Global Symposium for Innovative Financial Inclusion Distributed Ledger Technology - A new paradigm for Capital markets Alistair Duff Sept 2016 14 J The Significant Evolutionary Step of DLT Shared Truth Shared Logic Shared Communication
SLIDE 2
SLIDE 3
Distributed ledger technology has benefits across the trade life cycle, while simultaneously offering a new paradigm for bank interconnectedness & reduced risk
Source: Oliver Wyman / Euroclear
Distributed Ledger Technology Ecosystem Impact
Trade Life Cycle Impact
6
Pre-Event Event Post-Event
SLIDE 4
R3
World Economic Forum Report on DLT
SLIDE 5
R3
R3 - A DLT Centre of Gravity
R3 has been instrumental in creating collaboration across a diverse range of financial services industry participants
INSURANCE & ASSET MANAGEMENT EXCHANGES MARKET STRUCTURE / UTILITIES REGULATORS / CENTRAL BANKS CARD PROVIDERS / ACQUIRERS BLOCKCHAIN TECHNOLOGY CO.’s ENTERPRISE TECHNOLOGY CO.’s TRADE ASSOCIATIONS
SLIDE 6
R3
§ LRC - Center of excellence for distributed ledger innovation/collaboration across the entire financial services ecosystem § Secure, multi-institution Global Collaborative Lab focused on empirical experimentation, innovation and applied research in DLTs for financial services
R3 Operates on 3 Pillars
§ CORDA - Base layer reference architecture to underpin a global financial- grade ledger shared among all actors § Drive appropriate standards and open protocols to meet best interests of financial services community
Pillar 1 Financial Grade Ledger Pillar 2 R3 Lab & Research Center
§ Center of excellence for distributed ledger technology acceleration and scalability § Product commercialization and growth. § Product financing and corporate structuring
Pillar 3 Product Development
SLIDE 7
R3
R3’s Corda Platform: A Unique Distributed Ledger Approach
A blockchain-inspired distributed ledger platform designed and built specifically for financial markets
Key Features
§ Data is shared only among relevant parties § Choreographs workflow between firms without a central controller § Consensus at individual deal level, rather than system level § Design directly enables regulatory/supervisory observer nodes § Transactions are validated by parties to the transaction rather than a broader pool of unrelated validators § Supports a variety of consensus mechanisms § Strong link between legal prose and smart contract code § Uses industry-standard tools § No native cryptocurrency § Will be open-sourced
Corda
Manages and Executes Financial Agreements
Legal Interlock Interoperable Private Shared Business Logic
- Consensus
- Validity
- Uniqueness
- Immutability
- Authentication
SLIDE 8
R3
TRADE REGISTRY ISSUANCE OF VALUE REFERENCE DATA IDENTITY ASSET REGISTRY
R3’s Technology “Stack”
R3’s Platform will leverage Corda™ base architecture and seamless interoperability functionality to power the Platform, which enables commercial products and software on top
Asset-Specific Software, Applications and Business Process Solutions SHARED SERVICES PLATFORM INTEROPERABILITY / API LAYER BASE ARCHITECTURE LAYER– CordaTM (Open Source)
Other Ledger Systems, e.g.:
ETHEREUM RIPPLE CHAIN OTHERS
Existing Market Services
SLIDE 9