Sunday, 21 October 2018

Real world examples of blockchain Projects



Common KYC Data

What ?
  • View of customer identity to enable compliance with know Your Customer (KYC)
How ?
  • A complete view of customers' document across a distributed network
Benefits
  1. Creation of a single but cross-businesses KYC platform to inform all of the banks processes.
  2. Credit Mutual Arkea could enable its customers to deliver proof of their identity to third-parties such as local utilities, retailers or regulated service providers.

 Financial Audit and Compliance  Ledger

What ?
  • Reimagine current expensive audit process requiring integrating data - often inconsistent and outdated - from various sources on the blockchain
How ?
  • Shared replicated ledger serves as single point of truth
  • Auditors are guaranteed that no one has tampered the data via immutability of blockchain
Benefits
  1. Clients, bank and regulators all see single version of truth
  2. No data inconsistencies => clear audit trail
  3. Enables efficient lower-cost Asset Quality Reviews (AQR)


Legitimize Diamonds and Reduce Fraud


What ?
  • Track diamonds across supply chain from mine to retail
How ?
  • Shared ledger for storing digital certification with supporting material
Benefits
  1. Protect against the occurrence of fraud, theft, trafficking and black markets
  2. Assist in the identification and reduction of synthetic stones being labelled as authentic
  3. Increase speed of transparency for cross border transactions for insurance companies, bank and claimants



Food Traceability in China

What ?
  • Traceability of food from "farm to fork"
How ?
  • Blockchain holds history of food items processed through entire supply chain
Benefits
  1. Increased trust - multiplied by each participant in food supply chain
  2. Pinpoint source of compromised food, reducing the unnecessarily broad recall
  3. Improved co-ordination in food supply chain

Global Financing : Dispute Resolution


What ? 
  • IBM Global Finance provides a $41 bn channel financing per year. There are a number of disputes that take time to resolve and can lock up transactions costing time and money
How ?
  • Blockchain provides visibility and provenance end-to-end across supply chain
Benefits
  1. Reduced dispute resolution time by %75
  2. Released working capital from % 100m
  3. Combine IGF and Supplier info to further expand benefits further
  4. In production since Sept 2016


Cross Border Supply Chain

What ?
  • Ninety percent of goods in global trade are carried by the ocean shipping industry each year. Costs associated with trade documentation processing and administration are estimated to be up to one-fifth the actual physical transportation costs.
How ?
  • A new blockchain solution from IBM and Maersk will help manage and track the paper trail of tens of millions of shipping containers across the world by digitizing the supply chain process.
Benefits
  1. Enhance transparency and the highly secure sharing of information among trading partners and customs officials.
  2. Reduce fraud and errors, reduce the time products spends in the transit and shipping process, improve inventory management and ultimately reduce waste.
  3. Potential to save the industry billions of dollars. 


Private Equity Administration



What ?
  • Infrastructure supporting private equality has seen little innovation in recent years at a time when investors are seeking greater transparency, security and efficiency.
How ?
  • Creation of an innovative private equity ecosystem designed to deliver increased efficiency, security and transparency.
Benefits
  1. Provides real-time insight and transparency to all parties including the fund managers and investors.
  2. Designed to allow regulatory access as required.
  3. Support compliance of local regulation.
  4. In production.

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