IntroductionRavi BeegunKPMG Luxembourg

9am IntroductionRavi Beegun, KPMG Luxembourg

9:10am Demystifying blockchainEric Larcheveque, Ledger Wallet

9:30am The investment management revolution beyond blockchainPierre Gerard, Scorechain

9:50am The FinTech that the investment management sector has been waiting for?Practical implications

Debate with:- Fabrice Croiseaux, InTech- Eric Larcheveque, Ledger Wallet- Laurent Kratz, Scorechain

moderated by Said Fihri, KPMG Luxembourg

10:30am Closing and Q&A

WiFiUsername: digitalfundPassword: 6297

© 2016 KPMG Luxembourg, Société coopérative, a Luxembourg entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved

Document Classification: KPMG Confidential

Blockchain potential applications – a few examples

Trading

Trading of illiquid securities

Clearing and Settlement

Instantaneous execution and settlement

Recording

Proof of existence and ownership of assets

No reconciliations / Perfect audit trails

Identity verification

Blockchain based KYC

Demystifying BlockchainEric LarchevequeLedger Wallet

demystifying

blockchainEric Larchevêque

blockchain● database● distributed● fully auditable● irreversible● slow, inefficient

blockchainspermission-less

publictrustless

censorship resistantirreversible

Ƀ Ξ

permissioned

semi-privatetrusted

regulatedreversible

R3CEV / IBM / ...

Permissioned blockchains are a challenge for IT departments.

Bitcoin’s blockchain is a challenge for executive committees.

The strength of Bitcoin powers the resilience of the blockchain.

It drives a new paradigm:innovation without permission.

Smart contract

programmable money

AbraTurning smartphones into ATMs

Global peer to peer money transfer network

BTCjamGlobal peer-to-peer lending platform

ChangeTipMicropayment infrastructure

ColuIssuing digital assets on the Bitcoin blockchain

Fully traceable, transferable and secured.

notarizationproof of existence

digital identitysecurities

loyalty pointsprediction marketspre-paid minutes

energy creditsasset management

votes...

What we do at Ledgertrusted hardware for blockchain applications

thank you

The investment management revolution beyond blockchainPierre GerardScorechain

KPMG April 19th 2016Pierre GERARDcofounder – CEO@pierreneo

Scorechain S.A. ©

Blockchain

Public ledger Distributed Database

Distributed ComputerSmart contracts

IndependenceNo central authority

Scorechain S.A. ©

Public Ledger

Distributed accountingThe ledger validates the transactions

Can register any assets“tokenization”

Scorechain S.A. ©

Smart contracts

A legal contract is a program in a Blockchain

Can verify external sources and identity – digital signatures & KYC,…

Can generate instructions such as payments or moving assets

Scorechain S.A. ©

Fund Industry

Scorechain S.A. ©

FUND

Sponsor

Shareholders

TransferAgent

Custodians

DistributorsRetail

Customers

Administrator

InvestmentManager

Brokers

Scorechain S.A. ©

need for third party to intermediate?Bookkeeping?

exchange & verify information?

Scorechain S.A. ©

Transfer Agent

maintain records of shareholder accounts, calculate and distribute dividends and capital gains, and prepare account statements, income tax

information, and other shareholder notices

Scorechain S.A. ©

Custodian

responsible for holding and safeguarding the securities owned by a fund

Scorechain S.A. ©

Dividends, capital gainsTax report – withholding tax?Shareholders reports NAV CalculationAccount balances, StatementTrailer feesAuditKYC / AMLSubscription, Settlement!

Scorechain S.A. ©

Regulationnot too soon, please!

regulators can use blockchain to monitor the activity while maintaining the privacy

“read only access”

"Blockchain tech has the potential to impact of all three of our core businesses – advisory, tax and audit.”KPMG - http://www.coindesk.com/kpmg-blockchain-antidote-regulatory-costs/

Scorechain S.A. ©

YES WE CANopen protocol

improves availability, reliability reduces cost

almost real timeopportunities for new comers

Robot Investors ? DAO ?

NO, IT WON’T WORKintegration with legacy systems

cost of changeprivacy

(New?) Regulation

banks don’t want to change banking

incubated during 18 monthsincorporated in July 2015

blockchain analytics & intelligencenow for Bitcoin for customersalso for assets management –insurance,… smart-contracts

Scorechain S.A. ©

Scorechain S.A. ©

Scorechain S.A. ©

Interested in all blockchain applications

anduse cases

Scorechain S.A. ©

US VC investment is more than $800m    2.6x rest of the world combined

Q3 - 2015

Fabrice CroiseauxInTech

Eric LarchevequeLedger Wallet

Said FihriKPMG Luxembourg | Moderator

Laurent KratzScorechain

Practical implications - Panel

Q and A & Closing remarks

Thank you

Coming up…