Professional Documents
Culture Documents
2016 Cognizant
2016 Cognizant
Agenda
World Of Blockchain
Cognizant Collaboratory
2016 Cognizant
What is Blockchain?
Blockchain allows peer-to-peer transfer of value/information without requiring a trusted third party to authenticate a transaction;
every transaction is stored on a single distributed public ledger with cryptography features that make the transaction history
immutable
Imagine there are a group of lockers in a public place.
Each locker:
Is Free of charge
2016 Cognizant
How it Works
2016 Cognizant
How it Works ()
Source: INNOVALUE research
2016 Cognizant
Digital Asset
Data/Information
Types
Key Constructs
Append-only ledger
shared & replicated
across the network
Cryptography is a
central feature,
transactions are
secure,
authenticated &
verifiable
Shared
Ledger
Security
Smart
Contract
Network
Consensus
Business logic
embedded in the
Blockchain and
executed with
transactions
2016 Cognizant
By Access to Transactions
By Access to
Transaction Processing
Permission less
Permissioned
PUBLIC
YES
YES
PRIVATE
N/A
YES
Blockchain Type
Example
PUBLIC PERMISSION
LESS
Bitcoin
PUBLIC - PERMISSIONED
Consortium Blockchain
PRIVATE - PERMISSIONED
World Of Blockchain
Business Applications
Wallet
Issuance of Shares
Coupon
Exchange
Community Money
Digital Collectibles
Smart Property
Journaling
App
Title
Records
KYC App
Alternate
Payment
Service
Provider
Document
Management
List
Continues to
Grow
Leveraging
Open Transactions -(OT)
bitcoin 2.0
World of Blockchain
Decentralized
Company
(DAC)
Decentralized
Application
(DApp)
Decentralized
Exchange
Digital Asset
Smart Contract
Digital Asset
Colored Coin
Colu Colored Coin
Factom
Counterparty
Side
Chain
File
Storage
P2P
Messaging
SWARM
IPFS
StorJ
MaidSafe
Other(s)
BitMessage
ERIS
INDUSTRIES
NXT
Uses
Tonal BitCoin
(Pegged to BitCoin Blockchain ,
First on-chain alternative
Uses
Merged
Mining
Uses
Uses
Uses
Hydra Chain
BitShares
Whisper
Ethereum
Others
Interoperable
With
Uses
Bitcoin
Blockchain
Ripple
Variance(s)
IXCoin
LiteCoin
DogeCoin
FreiCoin
PeerCoin
PrimeCoin
Other(s)
BitCoin Blockchain
BlockApps
Stellar
NameCoin
First
Decentralized
Currency
Distribution
Consensus T ool
Block Generation Time
BigChainDB
Coins Rewared/block
Unit Cap
Supported tps
Open
Ledger/Hyper
Ledger
bitcoin 1.0
Omni
(Previously
known as
MasterCoin)
Custom
Meta
Data
Alt-Coin Non-Currency
Alt-Coin Decentralized
Currency
Record
Keeping
Smart Contract
Payment
Network&
Exchange
NXT
Consensus
Algo
BitSharesX
Proof-Of-Burn
Transaction
Transaction
Transaction
Ver ify
Hash
2016 Cognizant
Sign
Legend
Ripple
Other
(s)
Ver ify
Hash
Hash
Sign
Proof-of-Stake
(PoS)
Proof-of-Work (PoW)
SHA256d
Combo11
Scrypt
Cunnigham
CryptoNight
Others
Block
Block
Block
Own Blockchain
Forked
Pre v Hash
Nounce
Pre v Hash
Nounce
Pre v Hash
Nounce
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
TXN
.
TXN
TXN
TXN
TXN
TXN
Cognizants
Current
Exploration
Block Chain can potentially bring value in many areas in Financial Services
Retail Banking and Payments
Reduced costs .
Disintermediation,
distributed infrastructure
and Reduced
reconciliation that may
lead to improved cost
advantages
2016 Cognizant
Capital Markets
Wholesale Banking
Securities Servicing
Cross Asset Global Recon
Trade Finance
Derivative Contracts
Trade Repository
Improved Security
Reduced Time
Secure transaction ledger
database secured by PKI
which is shared in an
established, distributed
network.
Utility
KYC Registry
AML/Risk Compliance
Data management
Identity management
Contract management
Immutable proof of
record .
Real time track of
transaction with no
possibility to change the
history of record
Description
CRYSP
CRYMSON
Cryptocurrency Payment
Solution
CRYSIGN
Document Signing and
Verification
CRYPTIK
Post Trade Clearing and
Settlement
CRYTRAN
Fund Transfer Over
Blockchain
9
2016 Cognizant
Get the best rate for cross border, cross currency payments
Can be developed as a full fledged payment routing engine integrated
with Enterprise Payment Hub
CRYPTOBUS
Integration Framework
with Multiple Blockchain
Frameworks
Distributed Ledger as the single source of truth for asset transfer and
positions.
Integrity of asset transfers managed by the blockchain.
Rule based routing engine accelerates legacy application integration with
Blockchain
Flexible architecture to onboard future blockchain solutions as well as
legacy solutions in a phased manner.
Decentralized fund transfer solution Leverage Smart Contracts.
Client Engagements
Client
POC Description
A Large
Multinational
Bank
Blockchain Technology
POC Status
Phase 1 Delivered,
Phase 2 Underway
Delivered
Ethereum, Factom
Delivered
A Decentralized Application to issue and transfer digital assets (e.g. Title Deeds)
with multi signer capabilities.
Ethereum
POC Underway
A Large
European Bank
Integration Solution enabling Legacy Systems to put to and get data from various
Distributed Ledger Platform as well as leverage Smart Contract for entity lifecycle
management
Delivered
A Large Japanese
Bank
Ethereum/BlockApps, IPS
(indicative)
To be Started
A Large bank
based in US
10
2016 Cognizant
POC Description
CRYDENTIAL
Decentralized Identity
Companies take time and effort for KYC before they create an account for their customers.
Leverage the KYC performed by the companies to provide document to customers that can be
leveraged as a proof of identity for them.
CRYPTOGRAM
Simplify Participation Deal
using Blockchain
CRYDIT
Delinquency Prevention
over Blockchain
A decentralized ledger for Credit Card issuing companies to keep a check on the customers
Actual Credit Capacity and notifies in case his actual credit capacity is reached
11
2016 Cognizant
and Rollout
end solution.
Rollout.
"The market is largely at the POC (proof of concept) phase, proving that Blockchain-based implementations can replicate or
complement existing infrastructure," says the firm. "2016 marks a race to production as innovators seek to push beyond the
prototype stage.
Source - http://www.finextra.com/news/fullstory.aspx?newsitemid=28248&utm_medium=NewsFlash&utm_source=2015-12-14
12
2016 Cognizant
Cognizant Collaboratory
We think big asking ourselves: What solutions will deliver the most value for the customer and
business. This managed process then links innovation opportunities to value-add solutions.
Gain insights from multiple vectors
13
Industry Analysis
Understand where
the market is headed;
what potential
barriers exist and key
areas to differentiate.
Technology Assessment
Establishes a foundation
on emerging and existing
technology to utilize to
gain advantages and
development of best in
class experiences.
Design Research
Frames the user
behaviors, wants and
unmet needs that will
impact engagement
and perceptions.
Business Analysis
Assesses client readiness
for innovation; outlining
key areas of focus for near
term, medium term, and
long term impact.
2016 Cognizant
Prioritize
Prioritize based on
business value,
reach, technology
feasibility, and user
engagement.
Spark
Ideation
Gain insights from multiple vectors
WE IDEATE:
Just as Telecom operators adopted the internet and offered it
as a service to generate a separate revenue stream, could
customer have a similar opportunity to offer Blockchain as an
internet of value of exchange and help create a market for
liquidizing stale assets (i.e. wifi, personal storage and other
services) ?
14
2016 Cognizant
Prioritize
Spark
Prioritize
Spark
The Idea Lab culminates with a Spark Workshop where the process starts moving from theory to
practice. We focus in on the specific opportunities for transformative product & service offerings.
Gather inputs:
Ideas from repository
Target audience insights
Business strategy, competitor analysis,
white space assessment
Initial opportunity prioritization
Draft opportunity briefs
Workshop materials: Market Scan,
Rank Your Ideas, You Are Here! (on the
Crossroads)
15
2016 Cognizant
Identify targets:
Map out the core business
opportunities for acceleration
Identify and prioritize specific services
and processes ripe for digital
transformation with a focus on value
realization
Outputs:
Completed prioritized focus areas for
digitization
Initial plan for next phase in
Collaboratory: ideation and
prototyping
Join our Digital Works Program (Ideation lab Collaboratory Foundry) for building further use cases
Get access to our research and platform solutions for accelerating the expirementation on different blockchains
Get access to our pilot client test bed for validating the use cases and establishing go-to-market
Use cases
16
2016 Cognizant
MVP Specs
Prototype
Business Case
GTM
Thank You !
Blockchain Agency
BlockchainCoreGroup@cognizant.com
17
2016 Cognizant
18
2016 Cognizant
Problem
Solution
Features
Benefits
Current Status
- Ready to be showcased to clients
19
2016 Cognizant
Opportunity
Solution
Features
Benefits
Current Status
-
20
2016 Cognizant
The solution with Bitcoin payment enabled for online e-commerce platform is ready to be
showcased to clients
Blockchain verification of
signed documents and
management of latest
versions
Problem
Solution
Features
Benefits
Current Status
- Ready to be showcased
21
2016 Cognizant
Problem
Solution
Features
Benefits
Current Status
- Ethereum based soltion to hold Counterpary Holding on DLP and ability to transfer holding
is available for demonstration
22
2016 Cognizant
CRYPTOBUS
Problem
Solution
Features
Benefits
Current Status
- Ethereum, Eris Industries and IPFS have been integrated. Other Blockchain frameworks e.g.
Factom are slated for Phase 2.
23
2016 Cognizant
Simple Transaction
Reconciliation between
Bank Subsidiaries
Problem
Solution
Features
Benefits
Current Status
- POC Developed.
24
2016 Cognizant
Problem
Solution
Features
Benefits
Current Status
- Product Under Development
- Could be of interest to any client looking at simplifying onboarding of customers
25
2016 Cognizant
Opportunity
Solution
Features
Benefits
Current Status
- In concept stage
26
2016 Cognizant
Problem
Solution
Features
Benefits
Current Status
- In concept stage
- Could be interest to any bank consortium
27
2016 Cognizant
28
2016 Cognizant
94%
17%
47%
56%
84%
29
2016 Cognizant
62%
Source: Greenwich Associates 2015 study based on 58 financial respondents in America, Europe and Asia.
Banks and Financial Institutions are showing keen interest towards investing,
innovating and partnering for Blockchain technology (1/4)
ANZ Teamed up with venture technology accelerator BlueChilli offering a $40K prize to the start-up that creates the most useful
and disruptive business idea for the bank's SME and commercial real estate customers.
The bank Partnered with Ripple Labs to incorporate the Blockchain platform in its system to track customer payments.
Barclays launched a startup accelerator programme called Barclays Accelerator dedicated to Blockchain startups. By
incubating Safello, Atlas Card, and Blocktraces, the bank want to explore use-cases of the Blockchain technology.
The bank entered into a Proof-of-Concept (PoC) agreement with Safello to co-create a Bitcoin platform.
BBVA made investment in Coinbases $75 mn funding round.
The banks has selected 9 crypto startups in its Open Talent competition to explore Blockchain applications in field of payments
and trading. Leading names are Bitnexo Bitso, Volabit, Bitwage, Snapcard, Safello.
BNP Paribas conducted internal trials for the application of Blockchain in custody services, fund administration and transfer
agency.
BNY Mellon is using Blockchain technology to build an application to shift its internal client-server architecture to P2P model.
It also launched its own BK Coins, which is used internally as an incentive programme for employees.
30
2016 Cognizant
DBS bank hosted a Blockchain hackathon in May 2015. Through the hackathon, the bank wanted to find use-cases of the
Blockchain technology that could help the unbanked and could optimize current banking systems.
Deutsche Bank has been exploring the Blockchain in enforcement and clearing of derivatives contracts, know-your-customer,
anti-money laundering registries and surveillance, and securities asset servicing through its new innovation labs in London, Berlin
and Silicon Valley.
Fidor is the first major bank to experiment with virtual currency and Blockchain.
The bank partnered with Karken to provide digital currency exchange in EU and with bitcoin Deutschland GmbH in Germany. It
has also partnered with Ripple Labs to use its payment protocol to provide customers money transfer services in multiple
currencies and with bitcoin.de, a P2P bitcoin trading platform.
31
2016 Cognizant
Expressed that they are working on a new project with Blockchain technology.
Developed Cuber Wallet, an app based on Colored Coins Blockchain technology.
Partnered with Coinbase and CoinFloor.
While many other banks are looking into different Blockchains or even thinking of building their own, LHV bank is utilizing
existing reliable components of the Bitcoin Blockchain.
Rabobank is testing Blockchain technology, including bitcoin and is also experimenting with the Ripple payments network.
Santander Bank has found over 25 possible use-cases of the Blockchain that could be implemented to traditional banking
systems.
Santander has also co-authored report in which they discovered that the integration of the Blockchain technology could
eliminate up to $20 Billion of banking costs.
The bank has come up with Santander InnoVentures, which is a $100 Million fintech investment fund.
Socit Gnrale posted a job listing on 2nd July for an "IT developer on bitcoin, Blockchains and cryptocurrencies". According
to the advertisement, the role would entail research and development involving both cryptocurrencies and Blockchain.
32
2016 Cognizant
Partnerships are key to innovation with many banks partnering Ripple Labs (4/4)
UBS has a research lab in London focused on Blockchain.
UBS CIO Oliver Bussmann also provides one-on-one mentoring to fintech startups based out of London in the areas of
Blockchain & social media analytics.
The investment bank is experimenting in the areas of payments, trading and settlement, and smart bonds.
USAA banking, insurance, and investment management subsidiaries hopes the "Blockchain" technology could help
decentralize its operations such as the back office.
The firm has created a large team researching the potential of the Blockchain. However, USAA is still in early stages of its
research and has yet to identify how it will implement the technology.
The firm has also invested $75 Million in Coinbase.
Westpac has also partnered with Ripple Labs to incorporate the Blockchain technology into its systems. Westpac has integrated
the Ripple protocol to track down transactions & settlements and for understanding customer behavior.
33
2016 Cognizant