global symposium for innovative financial...
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AlistairDuffSept201614J
Global Symposium for Innovative Financial Inclusion
Distributed Ledger Technology - A new paradigm for Capital markets
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The Significant Evolutionary Step of DLT
Shared Truth
Shared Logic
Shared Communication
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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
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Pre-Event Event Post-Event
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R3
World Economic Forum Report on DLT
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R3
R3 - A DLT Centre of GravityR3 has been instrumental in creating collaboration across a diverse range of financialservices industry participants
INSURANCE &ASSET
MANAGEMENT
EXCHANGES
MARKETSTRUCTURE /
UTILITIES
REGULATORS /CENTRAL BANKS
CARD PROVIDERS/ ACQUIRERS
BLOCKCHAINTECHNOLOGY
CO.’s
ENTERPRISETECHNOLOGY
CO.’s
TRADEASSOCIATIONS
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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 layerreference 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 1Financial Grade Ledger
Pillar 2R3 Lab & Research Center
§ Center of excellence for distributed ledger technology acceleration and scalability
§ Product commercializationand growth.
§ Product financing and corporate structuring
Pillar 3Product Development
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R3
R3’s Corda Platform: A Unique Distributed Ledger ApproachA 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
CordaManages and Executes Financial Agreements
Legal Interlock Interoperable Private
Shared Business
Logic
• Consensus
• Validity
• Uniqueness
• Immutability
• Authentication
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R3
TRADEREGISTRY
ISSUANCE OFVALUE
REFERENCEDATAIDENTITY ASSET
REGISTRY
R3’s Technology “Stack”R3’s Platform will leverage Corda™ base architecture and seamless interoperabilityfunctionality 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
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Thank you & CloseThank You