CordaCon Tokyo 2018 - R3
Transcript of CordaCon Tokyo 2018 - R3
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Copyright © 2018 Tata Consultancy Services Japan Ltd.Copyright © 2018 Tata Consultancy Services Japan Ltd.
Information Ledgers on R3 Corda – Commodities Trade & Logistics PoC
CordaCon Tokyo 2018
7th March 2018
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Distributed Ledger Technology Research @ TCS BFS
Overview
Demonstrable Use Cases and POCs in Banking and Financial services
Experiments / Partnerships with multiple technology platforms
Participating in various standards initiatives across the globe
250+ demos/discussions with more than 100 financial institutions
25+ demonstrable PoCs/Pilots
Payments
- Global Payments
- Domestic Payments
- Intra-group Payments
Securities
- Security Issuance
- DVP Settlement
- Corporate Action
- Securities Trading
Trade Finance
- Documentary Collections
- Smart Contracts (L/C, etc.)
- Invoice Registry
Digital Time Stamp
- Intra-group / Inter-bank KYC
- Centralized KYC
- Reference Data
Joint PoCs / Pilots
Key focus area of research is to enable our customers to realize the business benefits by moving the technology to production
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Use Cases for Capital Markets
Smart
Financial Assets
• Issued, serviced & transacted on distributed ledger
• Private Markets, Syndicated Loans, Receivables
• Commodity Contracts
• Fixed income, equity, derivatives
Financial Asset Servicing
• Trusted and verifiable C/A announcements
• Voluntary action processing
• Proxy Voting
• SSIs, Reference Data
• Tax Handling
Security Financing
• Trading and processing of products like Repo, Security Lending
• Collateral management and margin workflow
Investment Management
• Illiquid Securities Trading
• Improved funds distribution and transfer agency
• Optimize fund accounting information flows
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R3 Corda - Experience
Global SI Partnership with R3
Strong alignment with Corda principle and relevance to banking industry
Mapping several use cases to R3 Corda platform
Developed multiple PoCs for customers using R3 platform
In-house training program developed
Trained over 100 associates in Corda platform
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Information Ledgers on R3 Corda
Key requirements Corda Platform Support
Permissioned Ledgers; Controlled Onboarding of parties
Doorman Service.
Information shared with parties only on need-to-know basis
Key principle of R3 Corda
Business data and attachments (not just hashes) need to be exchanged without compromising privacy
Supports peer-to-peer exchange of information
Non-repudiation and consistency of information across nodes
Digital signatures, Notary and Smart Contracts
Flat Information Flows Design of State Objects
Scalability; No performance degradation when more parties are added to the network
Only parties involved in the transaction flow are processing the transaction; Processing time is independent of the number of nodes in the network
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Commodities Trade & Logistics – PoC - Scope
DLT based information sharing
platform for Banks, Trading houses,
Shipping companies and third party
agents
Sponsor will govern the members
and define the policies of the DLT
network
Data visibility based on role of the
parties involved in the trade
Broadly represent all the key
features required in information
ledger use cases
• Smart Contracts• Enhanced data privacy – No
transaction info stored in any node of unrelated parties
• Immutability of information
• Non repudiation, audit trail • Near real-time information
exchange• Replace system to system
integration
Information Ledgers Platform
Sponsor Members Management Client On-boarding Network Management Notary services
Inspection Agent Inspection Details
Shipping co. Quantity
Oil Trading Co. Trades
Propose Negotiate Affirm
Movement
Banks Finance
Key Features
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Commodities Trade & Logistics – Information Ledger Use Case
ABC Corp
XYZCorp
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INDCorp
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Movement Agreement (Loading)
USPLogistics
Agent-discharge(Inspection)
2 (logistics)
4 (create
movement)
5 (update details)
Agent-loading (Inspection)
6 (confirm quantity)
7 ( update details)
LogisticsAgreement
TradeAgreement -2
Loadingprocess
Movement Agreement (Discharge)
TradeAgreement -18 (update delivery info)
3 (update Shipping info)
Discharge process