Rabobank’s outlook on Blockchain - FinTech...
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Chris Huls Blockchain Specialist Fintech & Innovation - Rabobank Rabobank’s outlook on Blockchain
Transcript of Rabobank’s outlook on Blockchain - FinTech...
Chris HulsBlockchain SpecialistFintech & Innovation - Rabobank
Rabobank’s outlook on Blockchain
Introduction
• Who: Chris Huls
• Then: Univeristy of Twente – Business Information Technology
• Now: Blockchain specialist at Rabobank Netherlands
Content
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• The potential
• The challenges
• What’s Rabobank doing?
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The potential
What is blockchain?
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Protocol DecentralizedLedger or database Smart Contract
Collaborate in
a groupNot-manipulablePublicly available Programmable
value
Blockchain
Block
B
l
o
c
k
Block
Block
Blockchain is a shared, not-manipulable database
Use blockchain as
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Administration layerwith transactions
Use blockchain as
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Administration layerwith transactions
value contracts
documentssignatures
Use blockchain as
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Administration layerwith transactions
value contracts
documentssignatures
value
Use blockchain as
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Administration layerwith transactions
value
documentssignatures
contracts
Use blockchain as
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Administration layerwith transactions
value
signatures
contracts
documents
Use blockchain as
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Administration layerwith transactions
value
signatures
contracts
documentssignatures
The potential
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And the bank?
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• Banks we know nowadays can dissappear, but the ‘institution’ bank will keep existing.
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Make payments creative
Inbetween customers & hundreds of
blockchains
Trusted party
Not alone, together with industry partners
New services
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The challenges
Where does blockchain fit?
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to facilitate collaboration
for parties
who don’t trust each other fully
Technical challenges
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• Privacy
• Scalability
• Governance
Right to be forgotten?
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my ROI?
18CC @ FLICKR
Consensus over consensus
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CC @ FLICKR
Focus
20CC @ FLICKR
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What’s Rabobank doing?
Focus on both streams
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New markets Improved Processes
Focus on both streams
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New markets Improved Processes
Startups Consortia
Standardization
Cross-industry collaboration
Nexuslab
Industry collaboration
N
E
W
K
N
O
W
N
Rabobank’s projects
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Pay per use Know your Customer/Identity Conditional payments
Cross border payments Trade Finance Internal administration
Cross Border Payments
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Pay per Use
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• Alternative Internet of Things-economy powered by blockchain
• Video
Conclusion
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• Blockchain has great potential
• Technical challenges need to be solved first
• Organizational challenges depend of the actors
• Rabobank looks at a variety of blockchain use cases
How blockchain is used
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Value Information
• Crypto currency• I Owe You
• Coin (euro)• Assets (house)
Trusted timestamping of:• Public text• Hashed text
Trade Finance, Domestic and cross-border payments, securities and other
value papers, syndicated loans
Financial products:
Know Your Customer-verification, identity, diamonds, software licenses,
patents, database protection
268 startups > 1 billion
