bluzelle

MAKE BLOCKCHAIN WORK FOR YOU

What is Blockchain?Blockchain is a combination of multiple technologies

1Time Stamp

2P2P Networks

3Encryption

4Consensus

Challenges addressed by blockchainRegulatory and compliance pressures make the finance industry ripe for change

Siloed systems

Front office and back office processes are housed

in separate systems, in addition to multiple copies

of shared ledgers, leading to time-consuming and

expensive reconcilliation processes

Lack of transparency

The mixture of manual, siloed systems

and disorganized data creates databases

with few actionable insights and analysis

paralysis

Manual processes

A great number of processes are still

in paper form, opening the door to

unnecessary operational risks

Cyber security risk

Legacy systems give rise to cyber security risk

as a result of segmented IT infrastructure. A

hack into just one backdoor can compromise the

whole organization

Disorganized compliance

data

Data is not transferred between

departments and organizations

efficiently, resulting in unreliable

customer due dilligence

Value of distributed ledger technology (DLT)DLT has made a massive push in disruption but we must remember its is not an answer to every

problem.

Disintermediate Secured by cryptography Smart contracts & oracles

Enables the facilitation of

transactions without a central,

privileged third party even in the

absence of trust.

Increased data security and

identity management

Enables automation of logical

agreements based on internal and

external data sources

Trustless Immutable Real-time settlement

Allows two parties to complete a

transactions without a

middleperson.

Resistant to hacking, double

spending and fraud

Near real time completion of

transactions

Practical uses of blockchainFive key areas where blockchain will play a big part in transformation and disruptions

New product offeringsNew distributions and

payment modelsImproved fraud

detection

Claims managementImproved customer

experience

KYC ProcessIssues leading to operational inefficiencies and poor customer experience

Siloed onboarding

process

Each party’s onboarding staff has to

collect customer documents and perform

validation checks

separately

Disparate KYC

standards

Each party’s KYC standards are different

resulting in different client data collected

and different downstream processes

No single source

of truth

Inconsistent and outdated customer

information across parties may lead to

issues in identifying potential threats

Key Issues

for Parties

Effect on

Individual/

Corporate

customers

Customers have to submit KYC-related

documents multiple times during

onboarding

Customers find it cumbersome to

understand and follow different KYC

processes for different parties

Customers need to report their updated

information to each party periodically

KYC Process- Key Parties

2. Bank

Banks and other financial institutions

participating in the consortium.

Banks require customer consent to access

their KYC information and receive updates

when updated information is available for

their customers. Banks only have access to

customer KYC data and not banking

relationships.

a. Originating Bank:

First banking relationship for a particular

customer

b. Requester Bank:

Bank seeking access to customer KYC

data already stored in KYC Shared

Ledger

c. Other Participating Banks:

All other participating banks with which

customer has a banking relationship

1. Customer

Individual or Corporate customer.

Customer ID

3. Admin/Regulatory

Representative of an administrative (super)

user or a governmental or regulatory entity.

Has on-demand access to all customer KYC

data, validation status as well as banking

relationships from the KYC Shared Ledger.

Also, it receives continuous updates about

updated customer information.

4. External trusted Sources

External validation agencies as well as third-

party data providers.

The KYC Shared Ledger will be set up to

seamlessly work with any additional sources

to be added in the future through a web

services/API interface.

KYC Process using Blockchain

Query on KYC

shared ledger

Customer

Approaches Bank

Validation with trusted

sources

Update on KYC

shared ledger

Account

opening

1

The bank staff queries the

KYC shared ledger using the

customer’s Unique Identifier.

Relevant details are then

extracted contingent on

customer’s consent.

Extracted customer

information is validated with

3rd-party sources.

Results from the

3rd party validation are

recorded back to KYC

shared ledger.

After the KYC process is

complete, bank account

is sanctioned for the

customer.

2 3 4 5

Blockchain uses around the industry

Blockchain

application

Financial services, exchanges

• Cross-border payments

• Stock/debt issuance

• Securities and derivative clearing and

settlement

• Trade finance, asset custody

Manufacturing, power

and utilities

• Supply chain

management

• Cross-border trade

and logistics

Regulators

• Explore central-bank controlled digital

currency

• Establish policies and guidelines to

manage Blockchain-based economy

Retail | Consumer goods

• Decentralized marketplaces

• Organic food and ethically

caught tuna traceability

Health care

• Health care records management

• Medical procedure billing and ordering

• Genome records

Cross-sector

• Corporate audit,

regulatory reporting

• Identify management

• Private blockchains for

internal efficiencies

Public sector

• Public registries (IDs, titles)

• Ownership rights, dispute and fraud

management

• Voting

Media | Telecom

• IP management (music, art)

• Loyalty

• New micro-transaction revenue models

• Royalty

Why BluzelleGo with the blockchain expert

► Developing blockchain solutions since 2014

► Enterprise-ready

► Protocol agnostic

► Modular architecture

► Interoperability

► Tested in financial institutions and reviewed by regulators

► Backed by cyber experts

► Industry specific subject matter experience

Bluzelle Blockchain Enterprise SolutionsWe make the blockchain work for you

Collaborate with your team to define pain points and outline solution

Our services include:

►Custom Blockchain development

►Smart contract design and development

►Pre-ICO smart contract review

►Training : Educate your team on blockchain; its capabilities and constraints (for both technical and non-technical stakeholders)

Bluzelle takes care of all the blockchain plumbing for your business

Credentials

KYC shared ledger Smart insurance Cross-border payments Crypto-currency setup

Consortium of international

banksLarge global insurer Core banking platform integration

Financial advisory & securities

brokerage

Solution

Ethereum-based POC that allows

banks to onboard both retail and

corporate customers and share

credentials with one another.

Solution

Ethereum-based POC platform to

allow millennials to buy insurance

via mobile, find an authentic clinic,

get treatment, and be reimbursed

quickly.

Solution

Ripple-based POC cross-border

payment network to offer as a value

add to their customers.

Solution

Cryptocurrency investment wallet

that hosts clients wallets and

connects to main crypto exchanges

Innovation

Source of truth about customers that

has an audit trail, secure and

synced up with everyone which

Innovation

An authenticated network of doctors,

insurance providers and payment

systems to enable real-time claims

management.

Innovation

End-to-end verification of senders

and receivers creating an inherent

system of trust

Innovation

A secured crypto currency setup

that enables wealth managers to

invest clients’ assets, secure and

fast

Bluzelle in the Media

Bluzelle & Deloitte showcased

integration of Ripple technology

into Temenos T24

Bluzelle listed as the “Top 10

Blockchain Startups to Watch”Bluzelle named to the “FinTech100”.

Formed partnership with KPMG to

offer blockchain solutions for banks

and insurance companies

Bluzelle was named “Tech

Pioneer” by World Economic

Forum

Bluzelle is demystifying blockchain by

letting businesses do their own thingThey moved from Vancouver to

Singapore to build applications on

the blockchain

dApps database service

Bluzelle “Delivers Value

Traditional Approaches Can’t

Achieve”

CEO Pavel Bains’ blog on “How

Will Blockchain Disrupt Insurance?Bluzelle developed a KYC Shared

Ledger for a consortium of banks in

Singapore together with the regulator

ACCOLADES

Bluzelle Networks was named by the World

Economic Forum as a Technology Pioneer for

2017. Previous winners include Google, Spotify,

Twitter, AirBnB amongst others.

Bluzelle also made the Global Fintech 100 by H2

Ventures.

In October 2017 Forrester Research recognized

Bluzelle as a leading blockchain technology

provider.

And more to come..

TECH PIONEER 2017

WORLD ECONOMIC FORUM

GLOBAL FINTECH 100H2 VENTURES

LEADING BLOCKCHAIN TECHNOLOGY PROVIDER

FORRESTER RESEARCH