Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of...

19
Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017 Cairo, Egypt 28-29 November 2017 Blockchain Challenges & Use Cases Hisham Mohamed Aly Information Security Risk Manager – Emirates NBD

Transcript of Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of...

Page 1: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Regional Forum on Cybersecurity in the Era of Emerging Technologies &

the Second Meeting of the “Successful Administrative Practices”-2017 Cairo, Egypt 28-29 November 2017

Blockchain Challenges & Use Cases

Hisham Mohamed Aly Information Security Risk Manager – Emirates NBD

Page 2: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

2

Agenda

Introduction

Use Cases

1

3

Challenges 2

Strategy to overcome challenges4

Next Steps 5

Page 3: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Introduction

Page 4: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

4

IntroductionBlock Chain – Next Big Thing ?

ASKED TO NAME an event that has reshaped finance in recent years,

bankers will point to the collapse of Lehman Brothers on September

15th 2008, the nadir of the financial crisis. Fintech types are more likely

to mention something that happened six weeks later. On October 31st

2008 Satoshi Nakamoto, a pseudonymous cryptography buff whose

real identity remains a mystery, unveiled a project he dubbed bitcoin,

“a new electronic cash system that’s fully peer-to-peer, with no trusted

third party”. It described what appeared to be a robust framework for a

currency that could run without the backing of any government.

Page 5: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

5

March 2017 - Dubai

OF THE WORLD'S MOST

FAMOUS SPEAKERS40 +OF THE WORLD’S MOST

INNOVATIVE FINANCIAL

CONFERENCES12

CEOs, SENIOR EXECUTIVES,

VIPs, INVESTORS,

GOVERNMENT OFFICIALS AND

MORE

250+ ARTICLES WRITTEN IN

MAJOR NEWS OUTLETS150+

WORLD-CLASS NETWORKING

EVENTS5

World Block Chain Forum

Page 6: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Challenges

Page 7: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

collaborating or competing

Platform Strategy

Return of Investment

Challenges

Page 8: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Collaborating or Challenging

• Everyone is working in an island• Focusing more on press releases and hype

https://www.blockchain-council.org/

Page 9: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Platform Strategy

• No Standard

• No Best Practice

• Cyber Security is a big challenge

• Flexible architecture

Page 10: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Return of investment

• Block Chain Projects are Open Source

• Cost of implementation and service are extremely high

• It’s always a management decision to take this step

Page 11: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Use Cases

Page 12: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

BLOCKCHAIN FOR REAL TIME CROSS BORDER PAYMENTS WITH RIPPLE -NBAD• Ripple’s Distributed Financial Technology fits within NBAD’s

existing infrastructure and offers a secure end-to-end payment flow providing transaction immutability and payment integrity. Integrated to the NBAD’s innovative payments infrastructure, the Ripple solution offers customers end-to-end visibility of transactions and allow for the instant transfer of funds to a beneficiary in a cost-effective manner.

• With Ripple connectivity, NBAD aims to significantly progress the way cross border payments are made today by offering clear costs, improved delivery time and visibility into the transaction process – ultimately reducing the investment and resources required by our customers to send payments.

Page 13: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

CHEQUE CHAIN – EMIRATES NBD

• Emirates NBD announced the launch of ‘Cheque Chain,’ an

initiative that will integrate blockchain technology into

cheques to strengthen their authenticity and minimize

potential fraud.

Page 14: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

>AED 25,000,000FINANCIAL LOSS DUE TO CHEQUE FRAUD IN THE UAE

(CONSERVATIVE NUMBER)

Page 15: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

CURRENT CHEQUE PROCESS

Page 16: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

ENBD CHEQUE CHAIN SOLUTION

Page 17: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Next Steps

Page 18: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Next Steps

• Clear vision (from governments to enterprise level)

• Build more conferences and workshops to elaborate more in this

subject

• Get a clear solutions for all challenges

• Start building regulations and standards to manage this process

Page 19: Regional Forum on Cybersecurity in the Era of …...Regional Forum on Cybersecurity in the Era of Emerging Technologies & the Second Meeting of the “Successful Administrative Practices”-2017

Thank You