Blockchain & Capital Market

Last year was about Trade Finance…

And since then :

An easy way to certify Direct

Guarantees authenticity with Ethereum Blockchain

https://docchain.ca-cib.com

KomGo

Leading industry players and

banks join forces to launchBlockchain platform to transformcommodities trade finance

Let’s go back to 2015…The kick off for Blockchain in Capital Markets

White Papers come out explaining how

Blockchain applied to Capital Markets is going

to transform :

“Banks are going to save millions…”

• Clearing and Settlement

• Collateral Management

• Internal Reconciliation

• Other operational

improvements

It’s a Gold Rush !

Important investments are made in 2015-2016 :

• Linq, NASDAQ pre-IPO platform goes live

• R3 is launched with 20 banks to develop a DLT targeting financial services

• Digital Assets Holding raises 60 M€ in a couple of months

• Market leaders like DTCC launch several projects, one in

partnership with DAH, IBM and R3

Crédit Agricole CIB chose SETL and invested in 2018

Why so much enthusiasm ?

We currently operate Capital Markets through linear processes

Why so much enthusiasm ?

Everyone sharing a common

vision of the Truth

Moving cash and Digital Assets in an instant

And since then…

Lots of work and experiments :

• Transactions on Blockchain mirroring real issuances

• A few pilots on real transactions operated on

Blockchain

Almost no live projects*…*Except Nasdaq pre-IPO platform

We were aiming for :

Capital Markets fully

running on Blockchain

Important savings

and efficiency gains

What went wrong ?

Complexity Numerous

Actors

Regulation Low ROI

What can we expect ?

What do we learn from that?

Start

Simple

Scale UpPick a

Quick Victory

In order to build this new market infrastructure :

Questions ?