The document provides an agenda and overview of a workshop on understanding fintech. The workshop agenda covers 9 sessions that will discuss topics like e-payment systems, peer-to-peer lending, risk management, regulations, and future trends in fintech. The document also provides background information on key concepts in fintech, including defining fintech, categories of fintech systems, and the benefits of fintech for consumers, firms and countries. Examples of popular fintech systems in Indonesia are also mentioned.
The Pitch Deck (version 2) for Eliconn - a blockchain technology and fintech-approached company which provides services for Supply Chain Finance (SCF) in multiple areas.
FinTech: Business Opportunity or Disruptor? - tryb @ FIDE Forum KL 4 Aug 2016tryb
tryb was invited to speak to 90+ Board of Directors of Malaysia Financial Institutions. In 90 min the audience learned about the impact of technology in finance, how banks respond to the trends and what kind of technology companies tryb sees in the market.
The document discusses open banking and its potential in India. It defines open banking as an ecosystem that provides users access to their financial data from multiple institutions via application programming interfaces (APIs). This allows third parties to build applications and services on top of banking data with user consent. The key points discussed are:
- Open banking moves banking services from closed proprietary systems to an open model where data and services can be shared through APIs.
- It allows for more personalized services, innovation, and a 720-degree view of customers through data sharing with consent.
- Banks can play different roles like producers, integrators, distributors or platforms to monetize open banking. Revenue models may include fees, revenue sharing
In this presentation I talk about the state of the digital currency economy in mid 2020, including my unique perspective as CEO of Gilded, a B2B payment solution using digital currency.
I also discuss what it will take to get the flywheel moving and grow the digital currency economy in 2021 and beyond.
This document discusses Effendy Zulklifly's background working in blockchain and his involvement with various blockchain organizations. It describes Blockchain Academy Asia, a global blockchain research and education institution founded by Effendy, which offers both online and offline courses on blockchain fundamentals, applications, and development. The document also outlines Blockchain Academy Asia's consulting services, research and development activities, board of advisors, and areas of collaboration.
This report summarizes how Innovative technologies are disrupting the financial industry and how organizations can leverage them to their advantage.
It is a must read for senior executives in banks and other financial service providers (FSPs).
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the Q3 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report reveals a range of insights into the market
Webinar: The Future of FinTech: Insights for 2021 | IntellectsoftIntellectsoft
FinTech companies and startups' changing dynamic forces them to be more adaptive to stay afloat or pivot during these difficult times.
Financial institutions from all over the world change the way people practice their finance. These are all credited to the growth of new digital trends such as Cryptocurrency, Contactless, Trading.
The Intellectsoft webinar "The Future of FinTech: Insights, Trends, and Use Cases Defining the Industry in 2021" offers fintech visionaries access to the unique resources for accelerating the infusion of digital finance in their business.
Watch the webinar to:
- Explore global fintech trends every leader should look out for in 2021
- Reveal how to make your fintech business stand out in the post-digital world
- Discover today's featured examples of Intellectsoft clients' technology solutions that can help you provide better and more efficient services
- Discuss how to evolve in 2021 using emerging technologies and more efficient solutions
Learn more about our financial software development here: https://www.intellectsoft.net/solutions/financial-software-development-services
The Pitch Deck (version 2) for Eliconn - a blockchain technology and fintech-approached company which provides services for Supply Chain Finance (SCF) in multiple areas.
FinTech: Business Opportunity or Disruptor? - tryb @ FIDE Forum KL 4 Aug 2016tryb
tryb was invited to speak to 90+ Board of Directors of Malaysia Financial Institutions. In 90 min the audience learned about the impact of technology in finance, how banks respond to the trends and what kind of technology companies tryb sees in the market.
The document discusses open banking and its potential in India. It defines open banking as an ecosystem that provides users access to their financial data from multiple institutions via application programming interfaces (APIs). This allows third parties to build applications and services on top of banking data with user consent. The key points discussed are:
- Open banking moves banking services from closed proprietary systems to an open model where data and services can be shared through APIs.
- It allows for more personalized services, innovation, and a 720-degree view of customers through data sharing with consent.
- Banks can play different roles like producers, integrators, distributors or platforms to monetize open banking. Revenue models may include fees, revenue sharing
In this presentation I talk about the state of the digital currency economy in mid 2020, including my unique perspective as CEO of Gilded, a B2B payment solution using digital currency.
I also discuss what it will take to get the flywheel moving and grow the digital currency economy in 2021 and beyond.
This document discusses Effendy Zulklifly's background working in blockchain and his involvement with various blockchain organizations. It describes Blockchain Academy Asia, a global blockchain research and education institution founded by Effendy, which offers both online and offline courses on blockchain fundamentals, applications, and development. The document also outlines Blockchain Academy Asia's consulting services, research and development activities, board of advisors, and areas of collaboration.
This report summarizes how Innovative technologies are disrupting the financial industry and how organizations can leverage them to their advantage.
It is a must read for senior executives in banks and other financial service providers (FSPs).
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the Q3 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report reveals a range of insights into the market
Webinar: The Future of FinTech: Insights for 2021 | IntellectsoftIntellectsoft
FinTech companies and startups' changing dynamic forces them to be more adaptive to stay afloat or pivot during these difficult times.
Financial institutions from all over the world change the way people practice their finance. These are all credited to the growth of new digital trends such as Cryptocurrency, Contactless, Trading.
The Intellectsoft webinar "The Future of FinTech: Insights, Trends, and Use Cases Defining the Industry in 2021" offers fintech visionaries access to the unique resources for accelerating the infusion of digital finance in their business.
Watch the webinar to:
- Explore global fintech trends every leader should look out for in 2021
- Reveal how to make your fintech business stand out in the post-digital world
- Discover today's featured examples of Intellectsoft clients' technology solutions that can help you provide better and more efficient services
- Discuss how to evolve in 2021 using emerging technologies and more efficient solutions
Learn more about our financial software development here: https://www.intellectsoft.net/solutions/financial-software-development-services
On Thursday, Oct. 20, Digital Currency Group hosted its second annual Bitcoin and Blockchain Tech Summit - three days of private events focused on bringing together our network of founders, startups, investors, and corporate strategics. These are the opening remarks presented by our founder and CEO, Barry Silbert, regarding the progress the bitcoin and blockchain ecosystem over the last year, and what DCG is excited about looking forward. Our Director of Development, Meltem Demirors, also announced the launch of our new corporate network.
Strategi, Kegunaan dan Manfaat Teknologi blockchain di indiaRein Mahatma
Think Tank kebijakan dari pemerintah India, NITI Aayog, merelease draft paper dubbed “Blockchain — The India Strategy” yang menerangkan use cases dari blockchain di India bersama dengan kesimpulan dan pengalaman dari pilot projects.
State of Blockchains 2019: Green shoots of adoption emerge from 2018 crypto c...Outlier Ventures
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the 2018 Q4 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report highlighted multiple key trends including increasing user adoption and data showing the decline in ETH price isn’t due to ICO sellers
Outlier Ventures Investment in Blockchains report by Research Analyst Joel John and Partner & Head of Research Lawrence Lundy.
The report provides an overview into blockchain investment and market trends in 2019. According to the report, $23.7 Billion has been raised by 3738 blockchain companies since 2013.
Early stage fundraising high in count, but follow on rounds few and scarce. Blockchain startups have raised finance in multiple forms including ICOs, debt, direct investments and crowd-funding. However, discounting a handful of exchanges and wallets, there hasn’t been an application that has broken through to mainstream adoption, yet. This definitely isn’t for lack of capital. The challenge is more about expertise and guidance at early stages, especially when it comes to areas unique to Web3 such as token design.
Citi's report discusses the future of digital money, including central bank digital currencies (CBDCs), cryptocurrencies, and stablecoins. It notes that central banks are increasingly exploring CBDCs in response to Big Tech initiatives like Diem, and China has made significant progress developing its digital yuan. The report examines the opportunities and risks of CBDCs, including potential disruption of incumbent financial institutions and increased volatility of bank deposits. It also covers stablecoins like Diem, Bitcoin, and other cryptocurrencies, as well as expert perspectives on various aspects of digital currencies.
Enterprise Blockchain Business Impact by Industry. private vs publicJonghoon Lee
Overview of Blockchain
Why Enterprise Blockchain ?
1. Operational Efficiency - Cost Saving
2. Interoperability - Immutable Data Management
3. New Biz Opportunity
- Expand Ecosystem
1. Security
2. Marketing (Hype)
Blockchain is Struggling to Emerge from the Pioneering Stage
Blockchain’s Occam Problem
The simplest solution is almost always the best
Blockchain is an infant teleology
- Unstable - Expensive - Complex - Selectively Distrusted
- 대안적 기술이 존재하는데, 투자의 제약이 따르는 Blockchain을 택해야 하는가?
- 기술적 Hype에 편승하는 것인가?
Pain Points from Industry
Hard to understand technology
- Too focused only in technology
- Tech needs more time
Hard to find business benefit
- Not sure what needs to be done
- Different level of understanding between corporates
Low trust in industry due to token sales
- More negative than positive
- But, positive rate is heading up as learning curve goes up
Trough of Disillusionment: 2020 ~ 2022
Business Value-add of Blockchain: $3.1T by 2030
Systems of Trust: Blockchain Support for Enterprise Strategy
The Reasons Why Blockchain is Failed so far
1. 기술을 시작으로 고객을 생각
사업 기획 없이, 기술 중심 (TPS 속도 개선)으로 돌아감
- 사업 기획은 고객 Value를 도출
2. 분산형 DB 이고, 대체재가 많음
일부 Project는 다른 기술 (DB, Cloud 등)로 대체하는게 효율적
- Disruptive가 아닌 Foundation 기술임에도, Algorithm 마케팅
3. 대기업은 Protocol 등만 Decentralized 일뿐, Centralized Private Blockchain ?
Internet 초기, P2P로 Server를 돌렸지만 Cloud로 Centralized 되었듯,
향후 IT Giant가 Centralized 전망
소비자는 Privacy 문제에 책임을 지는 IT Giant 선호
결국, Decentralized 장점은 사라질 것으로 예상
Data 무결성의 경우, Blockchain 대체재가 없음
Stakeholder가 많은 분야로 Ecosystem 확산에는 Enterprise Blockchain 필수
Blockchain is the Future of Internet?
Centralized vs Decentralized
Who will Win Among Competing Blockchain Platforms?
Internet vs Blockchain
" Internet 초기, eMail이 Fax를 대체 가능한지 논의 되었음
- 당시 Fax를 잘 활용 중인데, 왜 eMail을 사용해야 하는지 이해 불가
· 향후 eMail을 Color가 지원되는 Fax 보완재로 받아들임
· 이에 Blockchain은 Internet의 보완재로 2단계를 거쳐 진화 예상
① 현재 금융/IT서비스의 기능을 Copy 하는 단계
② 현 기술로 불가능한 기능이 가능한 단계 Blockchain Killer App”
Internet and Blockchain Can They Really be Compared?
Blockchain Trilemma
Private Blockchains are Valuable for Solving Efficiency, and Fraud Problems
I Need a Blockchain, But Which One?
Business Impact of Blockchain by Industry
Emerging Trends in Blockchain Technology
Permissionless vs Permissioned
Enterprise Blockchain Alliances and Consortia
Blockchain Technology Stack
Blockchain Use Cases Addressing Two Major Needs
Decision Tree for Complete Blockchain Technology Use Cases
Public vs Private Blockchains
Public, Consortium or Private Blockchains
Decision Tree for Tokens and Smart Contracts
Decision Tree for Complete Blockchain Technology Use Cases
Fintech App Ideas to Consider in 2021 for StartupsQSS Technosoft
If you are looking to begin your startups on financial platforms you must aware of some most incredible fintech app ideas. In these slides, we have explained exceptional fintech app ideas for business startups.
The playbook captures the journey of 26 FinTech hubs in emerging markets, their experiences and learnings in the process of building a strong financial services ecosystem.
This report serves to facilitate hubs to think global and act local through an appreciation of global trends, local drivers and regional opportunities.
Byrssa is a fintech startup established in 2011 that provides sales, marketing, and consulting services to clients in the financial sector across 4 continents. It is developing an online marketplace called Byrssa that will unite the European fintech ecosystem and provide a digital platform for private equity issuance and trading. Byrssa aims to become a leader in the fintech space by applying new technologies and serving as a central forum for the European fintech industry.
- Funding dollars for blockchain deals fell over 30% in 2019 while the number of deals only declined slightly, indicating deal sizes are shrinking.
- The distribution of deals is shifting from West to East, with the US share declining while China's rising.
- "Crypto-corporate" venture capital firms like NEO Global Capital and Coinbase Ventures were the most active investors in 2019.
- Enterprise blockchain funding has lagged far behind other applications, though some large deals occurred in 2019 including a $200M round for Ripple.
The mobility market is being disrupted by the convergence of IoT, distributed ledger technologies, and artificial intelligence. This convergence is creating an integrated ecosystem where data is the core asset, authenticated and secured using DLTs. In data marketplaces, data can be packaged and sold to be processed and analyzed using technologies like distributed computation and machine learning. This transformation will impact business models and unlock new economic value through automation, security, and new machine-to-machine interactions.
In the keynote 2022 Digital Asset Outlook report, we performed a deep dive into the 12 + 1 key themes, which will have the most significant disruptive effect and incremental delta in 2022. The report features exclusive insights from pioneers in digital assets, blockchain investing, NFT, metaverse and gaming, legal and cybersecurity.
Our latest quarterly "State of Blockchains" report on developments in the blockchains space, across startups, government and corporate adoption. This information has been provided to help build knowledge and understanding in the emerging blockchain and DLT space.
What is blockchain all about? Understanding the blockchain opportunity in ent...Outlier Ventures
This document discusses blockchain technology and its potential applications. It summarizes that blockchain enables distributed ledger technology, smart contracts, and decentralized autonomous organizations. It then outlines several potential uses of blockchain including supply chain management, identity verification, reducing fraud, marketplaces, and task automation. The document argues that blockchain is the critical infrastructure needed for emerging technologies like artificial intelligence, robotics, IoT, 3D printing, and augmented/virtual reality to reach their full potential.
State of the blockchain markets, july 2016Chris Skinner
The document provides an overview of blockchain applications and investment trends from July 2016. It finds that the number of blockchain companies founded has grown significantly since 2010, with over 150 founded in 2016. Investment rounds and total funding have also increased substantially year-over-year. The report analyzes funding by stage and sector, noting the majority of funding goes to financial services and technology enabler companies. It also lists some of the most active investors and largest deals.
The Blockchain Economy | William Mougayar | Blockchain ConfCodemotion
The document discusses the blockchain economy and tokens. It provides an overview of William Mougayar's background and interests in the blockchain space. It then covers several topics regarding tokens and decentralization, including the difference between tokens 1.0 and 2.0, ensuring token utility fits the market, examples of decentralization, and the current and future state of the blockchain market. Regulatory issues are also addressed. In summary, the document provides insights from William Mougayar on various aspects of the blockchain economy and decentralized applications.
Blockchain has been by far the biggest technological disruption of the 21st century. The opportunities that it provides are limitless. Lets step into the world of Blockchain and learn a bit about its history and also what it stores in the future. Learn how to network and grow in the Industry, This is Blockchain 101 for my network connections. More detailed and specific versions are on its way post this one.
Kindly message me your valuable feedback
On Thursday, Oct. 20, Digital Currency Group hosted its second annual Bitcoin and Blockchain Tech Summit - three days of private events focused on bringing together our network of founders, startups, investors, and corporate strategics. These are the opening remarks presented by our founder and CEO, Barry Silbert, regarding the progress the bitcoin and blockchain ecosystem over the last year, and what DCG is excited about looking forward. Our Director of Development, Meltem Demirors, also announced the launch of our new corporate network.
Strategi, Kegunaan dan Manfaat Teknologi blockchain di indiaRein Mahatma
Think Tank kebijakan dari pemerintah India, NITI Aayog, merelease draft paper dubbed “Blockchain — The India Strategy” yang menerangkan use cases dari blockchain di India bersama dengan kesimpulan dan pengalaman dari pilot projects.
State of Blockchains 2019: Green shoots of adoption emerge from 2018 crypto c...Outlier Ventures
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the 2018 Q4 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report highlighted multiple key trends including increasing user adoption and data showing the decline in ETH price isn’t due to ICO sellers
Outlier Ventures Investment in Blockchains report by Research Analyst Joel John and Partner & Head of Research Lawrence Lundy.
The report provides an overview into blockchain investment and market trends in 2019. According to the report, $23.7 Billion has been raised by 3738 blockchain companies since 2013.
Early stage fundraising high in count, but follow on rounds few and scarce. Blockchain startups have raised finance in multiple forms including ICOs, debt, direct investments and crowd-funding. However, discounting a handful of exchanges and wallets, there hasn’t been an application that has broken through to mainstream adoption, yet. This definitely isn’t for lack of capital. The challenge is more about expertise and guidance at early stages, especially when it comes to areas unique to Web3 such as token design.
Citi's report discusses the future of digital money, including central bank digital currencies (CBDCs), cryptocurrencies, and stablecoins. It notes that central banks are increasingly exploring CBDCs in response to Big Tech initiatives like Diem, and China has made significant progress developing its digital yuan. The report examines the opportunities and risks of CBDCs, including potential disruption of incumbent financial institutions and increased volatility of bank deposits. It also covers stablecoins like Diem, Bitcoin, and other cryptocurrencies, as well as expert perspectives on various aspects of digital currencies.
Enterprise Blockchain Business Impact by Industry. private vs publicJonghoon Lee
Overview of Blockchain
Why Enterprise Blockchain ?
1. Operational Efficiency - Cost Saving
2. Interoperability - Immutable Data Management
3. New Biz Opportunity
- Expand Ecosystem
1. Security
2. Marketing (Hype)
Blockchain is Struggling to Emerge from the Pioneering Stage
Blockchain’s Occam Problem
The simplest solution is almost always the best
Blockchain is an infant teleology
- Unstable - Expensive - Complex - Selectively Distrusted
- 대안적 기술이 존재하는데, 투자의 제약이 따르는 Blockchain을 택해야 하는가?
- 기술적 Hype에 편승하는 것인가?
Pain Points from Industry
Hard to understand technology
- Too focused only in technology
- Tech needs more time
Hard to find business benefit
- Not sure what needs to be done
- Different level of understanding between corporates
Low trust in industry due to token sales
- More negative than positive
- But, positive rate is heading up as learning curve goes up
Trough of Disillusionment: 2020 ~ 2022
Business Value-add of Blockchain: $3.1T by 2030
Systems of Trust: Blockchain Support for Enterprise Strategy
The Reasons Why Blockchain is Failed so far
1. 기술을 시작으로 고객을 생각
사업 기획 없이, 기술 중심 (TPS 속도 개선)으로 돌아감
- 사업 기획은 고객 Value를 도출
2. 분산형 DB 이고, 대체재가 많음
일부 Project는 다른 기술 (DB, Cloud 등)로 대체하는게 효율적
- Disruptive가 아닌 Foundation 기술임에도, Algorithm 마케팅
3. 대기업은 Protocol 등만 Decentralized 일뿐, Centralized Private Blockchain ?
Internet 초기, P2P로 Server를 돌렸지만 Cloud로 Centralized 되었듯,
향후 IT Giant가 Centralized 전망
소비자는 Privacy 문제에 책임을 지는 IT Giant 선호
결국, Decentralized 장점은 사라질 것으로 예상
Data 무결성의 경우, Blockchain 대체재가 없음
Stakeholder가 많은 분야로 Ecosystem 확산에는 Enterprise Blockchain 필수
Blockchain is the Future of Internet?
Centralized vs Decentralized
Who will Win Among Competing Blockchain Platforms?
Internet vs Blockchain
" Internet 초기, eMail이 Fax를 대체 가능한지 논의 되었음
- 당시 Fax를 잘 활용 중인데, 왜 eMail을 사용해야 하는지 이해 불가
· 향후 eMail을 Color가 지원되는 Fax 보완재로 받아들임
· 이에 Blockchain은 Internet의 보완재로 2단계를 거쳐 진화 예상
① 현재 금융/IT서비스의 기능을 Copy 하는 단계
② 현 기술로 불가능한 기능이 가능한 단계 Blockchain Killer App”
Internet and Blockchain Can They Really be Compared?
Blockchain Trilemma
Private Blockchains are Valuable for Solving Efficiency, and Fraud Problems
I Need a Blockchain, But Which One?
Business Impact of Blockchain by Industry
Emerging Trends in Blockchain Technology
Permissionless vs Permissioned
Enterprise Blockchain Alliances and Consortia
Blockchain Technology Stack
Blockchain Use Cases Addressing Two Major Needs
Decision Tree for Complete Blockchain Technology Use Cases
Public vs Private Blockchains
Public, Consortium or Private Blockchains
Decision Tree for Tokens and Smart Contracts
Decision Tree for Complete Blockchain Technology Use Cases
Fintech App Ideas to Consider in 2021 for StartupsQSS Technosoft
If you are looking to begin your startups on financial platforms you must aware of some most incredible fintech app ideas. In these slides, we have explained exceptional fintech app ideas for business startups.
The playbook captures the journey of 26 FinTech hubs in emerging markets, their experiences and learnings in the process of building a strong financial services ecosystem.
This report serves to facilitate hubs to think global and act local through an appreciation of global trends, local drivers and regional opportunities.
Byrssa is a fintech startup established in 2011 that provides sales, marketing, and consulting services to clients in the financial sector across 4 continents. It is developing an online marketplace called Byrssa that will unite the European fintech ecosystem and provide a digital platform for private equity issuance and trading. Byrssa aims to become a leader in the fintech space by applying new technologies and serving as a central forum for the European fintech industry.
- Funding dollars for blockchain deals fell over 30% in 2019 while the number of deals only declined slightly, indicating deal sizes are shrinking.
- The distribution of deals is shifting from West to East, with the US share declining while China's rising.
- "Crypto-corporate" venture capital firms like NEO Global Capital and Coinbase Ventures were the most active investors in 2019.
- Enterprise blockchain funding has lagged far behind other applications, though some large deals occurred in 2019 including a $200M round for Ripple.
The mobility market is being disrupted by the convergence of IoT, distributed ledger technologies, and artificial intelligence. This convergence is creating an integrated ecosystem where data is the core asset, authenticated and secured using DLTs. In data marketplaces, data can be packaged and sold to be processed and analyzed using technologies like distributed computation and machine learning. This transformation will impact business models and unlock new economic value through automation, security, and new machine-to-machine interactions.
In the keynote 2022 Digital Asset Outlook report, we performed a deep dive into the 12 + 1 key themes, which will have the most significant disruptive effect and incremental delta in 2022. The report features exclusive insights from pioneers in digital assets, blockchain investing, NFT, metaverse and gaming, legal and cybersecurity.
Our latest quarterly "State of Blockchains" report on developments in the blockchains space, across startups, government and corporate adoption. This information has been provided to help build knowledge and understanding in the emerging blockchain and DLT space.
What is blockchain all about? Understanding the blockchain opportunity in ent...Outlier Ventures
This document discusses blockchain technology and its potential applications. It summarizes that blockchain enables distributed ledger technology, smart contracts, and decentralized autonomous organizations. It then outlines several potential uses of blockchain including supply chain management, identity verification, reducing fraud, marketplaces, and task automation. The document argues that blockchain is the critical infrastructure needed for emerging technologies like artificial intelligence, robotics, IoT, 3D printing, and augmented/virtual reality to reach their full potential.
State of the blockchain markets, july 2016Chris Skinner
The document provides an overview of blockchain applications and investment trends from July 2016. It finds that the number of blockchain companies founded has grown significantly since 2010, with over 150 founded in 2016. Investment rounds and total funding have also increased substantially year-over-year. The report analyzes funding by stage and sector, noting the majority of funding goes to financial services and technology enabler companies. It also lists some of the most active investors and largest deals.
The Blockchain Economy | William Mougayar | Blockchain ConfCodemotion
The document discusses the blockchain economy and tokens. It provides an overview of William Mougayar's background and interests in the blockchain space. It then covers several topics regarding tokens and decentralization, including the difference between tokens 1.0 and 2.0, ensuring token utility fits the market, examples of decentralization, and the current and future state of the blockchain market. Regulatory issues are also addressed. In summary, the document provides insights from William Mougayar on various aspects of the blockchain economy and decentralized applications.
Blockchain has been by far the biggest technological disruption of the 21st century. The opportunities that it provides are limitless. Lets step into the world of Blockchain and learn a bit about its history and also what it stores in the future. Learn how to network and grow in the Industry, This is Blockchain 101 for my network connections. More detailed and specific versions are on its way post this one.
Kindly message me your valuable feedback
This document discusses fintech solutions in India. It begins by introducing fintech and noting India's increasing digitalization and personalized financial services. It then outlines the key pillars that support fintech solutions in India, including the roles of government, investors, startups, technology vendors, and financial institutions. Several technologies contributing to fintech are also examined, such as AI/ML, blockchain, RPA, and conversational banking. The document reviews India's history with digital payments and provides statistics on fintech investment trends. Finally, it gives examples of various Indian fintech companies.
FinTech presentation at Banking and Payment System conferenceGrow VC Group
Presentation about fintech ecosystem for new finance services, especially integrated distributed services, and how they are changing the whole finance sector and banking services.
7 Things You Should Not Do With Skrill Depositalannalol6
Bitcoin has advantages as a global currency with low transaction costs and liquidity during financial crises, but also risks like online theft and volatility. For a virtual currency like Bitcoin to replace fiat currencies, it must fulfill the three functions of money: as a medium of exchange, store of value, and credit creation. While Bitcoin's supply is limited to 21 million, its fluctuating value makes it difficult to use as a stable store of value. Regulators warn of risks from using virtual currencies like Bitcoin due to their unclear legal status and lack of regulatory oversight.
Blockchain and tokenization are coming to all asset classes and instrumentsGrow VC Group
Crypto finance and blockchain are in very early phase, ICOs are only the first wave. These models come to main stream, when we have more asset classes and instruments that are relevant for institutional investors and ordinary people. The history has show that technology disruption winners are typically new companies, it is hard for incumbents to adapt.
360 degrees fintech revolution at ArabNet Beirut 2017ArabNet ME
This document discusses the FinTech revolution and its key drivers. It outlines the main stakeholders in the FinTech ecosystem, including legacy financial institutions and FinTech startups. Several examples of FinTech innovations from around the world are provided, such as India's Unified Payments Interface and China's Alipay mobile payment system. The document advocates that legacy financial institutions embrace changes from FinTech by collaborating with startups and building open platforms.
Originally presented during the Arabnet Beirut Banking Innovation Day (21/2/2017).
This presentation provides an overview of the different drivers & stakeholders shaping the FinTech revolution.
Originally presented during the Arabnet Beirut Banking Innovation Day (21/2/2017).
This presentation provides an overview of the different drivers & stakeholders shaping the FinTech revolution.
This document summarizes the opportunities and challenges of the FinTech sector. It describes what FinTech is and the major trends, including the emergence of firms providing crowdfunding, virtual assets, and electronic payments. Mexico has over 2,000 FinTech firms concentrated in payments, lending, and markets. The FinTech sector benefits financial inclusion but also poses risks like money laundering that require regulation. Mexico passed a FinTech law in 2018 to regulate crowdfunding, electronic payments, and virtual assets entities while promoting innovation through a regulatory sandbox.
The Future of Fintech: Crystal balls and tasseographyTim Swanson
Presentation first given to a roundtable talk at the Sim Kee Boon Institute at Singapore Management University (http://http://skbi.smu.edu.sg/) on March 5, 2015. Additional notes, references and citations are in the comments of each slide. I would like to thank Arthur Breitman, Andrew Geyl (Organ of Corti), Yakov Kofner, Raja Ramachandran and John Whelan for their feedback and comments on several slides.
Digital media Dessertation full topic Samir Bodade
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6. 6
• Please kindly set all mobile phones etc on silent mode
• Feel free to interrupt my presentation to ask questions
at any time
• In the end, there is a final Q&A session for deeper
concerns
• Time is slightly relative and I own the clock ☺
• Do actively participate! And don’t forget to have fun!
October 2018 Understanding Fintech
Rule of the Game
Image: Unsplash
7. 7
Intro to Fintech and its Ecosystem
Session 1
October 2018 Understanding Fintech
8. 8
According to Indonesia Central Bank (BI)
“Penggunaan teknologi dalam sistem keuangan yang
menghasilkan produk, layanan, teknologi, dan/atau
model bisnis baru serta dapat berdampak pada
stabilitas moneter, stabilitas sistem keuangan, dan/atau
efisiensi, kelancaran, keamanan, dan keandalan sistem
pembayaran”.
October 2018 Understanding Fintech
What is Fintech
Image: Wall2born
9. 9
According to Otoritas Jasa Keuangan (OJK)
Fintech 2.0
Intended for digital financial service provided by
financial institution such as bank, etc.
Fintech 3.0
Intended for digital financial service provided by
technology startup company.
October 2018 Understanding Fintech
Type of Fintech
Image: Wall2born
10. 10
According to Financial Stability Board (FSB) and Indonesia Central
Bank (BI)
1. Payment, clearing dan settlement
Provides payment services and or systems: e-money, e-wallet, payment
gateway
Example: Veritrans, Kartuku, Doku, iPaymu, T-Cash, Sakuku, GoPay,
GrabPay, TokoCash, Finnet
2. E-Aggregator
Collects and analyzes financial data and information for the user to make
financial decision
Example: Cekaja, Cermati, RajaPremi, AturDuit, HaloMoney, Asuransiku.
October 2018 Understanding Fintech
Category of Fintech
Image: Wall2born
11. 11
Risk Management and Investment
Equipped with AI engine/system for providing financial planning, e-
trading and e-insurance services.
Example: Jojonomic, Finansialku, NgaturDuit, Bareksa, KoinWorks.
Peer-to-Peer Lending (P2P) and Crowdfunding
Platform acting as an intermediary entity between lender/investor
and borrower/loanee.
Example: Modalku, Krevido, Investree.
In particular Crowdfunding, they act as intermediary between an
entity seeks for fund and investor as source of fund prior to IPO.
Example: Crowdo, KitaBisa, Indiegogo, KickStarter
October 2018 Understanding Fintech
Category of Fintech (cont’d)
Image: Wall2born
13. 13
For consumer/user
▪ Better product, service, platform
▪ More option on product, service, platform
▪ Lower price of product, service and platform
For fintech firm
▪ Simplifying transaction chain
▪ Lowering operation cost and cost of capital
▪ Improving/enhancing information flow
October 2018 Understanding Fintech
Benefits of Fintech
Image: Wall2born
14. 14
For the country
Encouraging the transmission of economic policy
Accelerating circulation of money therefore in the
end improving/enhancing the economy of the
society
In Indonesia case, supporting Strategi Nasional
Keuangan Inklusif (SKNI)
October 2018 Understanding Fintech
Benefits of Fintech (cont’d)
Image: Wall2born
15. 15
For payment system activities
Substituting the role of formal financial institution such
as bank
Providing the market for the businesses
Acting as supporting aid for payment, settlement and
clearing
Helping more efficient investment activities
Mitigating the risks from conventional payment system
Helping individual and organization that need to deposit,
borrow, lend and invest their funds.
October 2018 Understanding Fintech
Benefits of Fintech (cont’d)
Image: Wall2born
20. 20October 2018 Understanding Fintech
Global Fintech Landscape (cont’d)
Total global fintech investment was US$31B (KPMG
Pulse of Fintech Report Q4 2017)
▪ US dominates global fintech investment; Brazil starts
to make waves
▪ Europe VC fintech investment reaches new high for
third straight quarter
▪ Asia fintech funding declines, with less than $750
million raised in the region.
40. Type of E-Payments
October 2018 Understanding Fintech
Payment
Cards
Electronic
Funds
Transfer (EFT)
E-Cash
Systems
E-Wallets E-Check
Micro
Payment
Systems
40
Note: The green are classified as fintech
The rest are classified as conventional electronic payment or payment system services
41. 41
▪ Inclusive of e-money, digital currency, crypto currency.
▪ A system allows a person to pay for goods or services by
transmitting a number from one device to another.
▪ Like serial numbers on real currency, their numbers are
unique.
▪ Type: soft token or hard token (card-based)
▪ In Indonesia, 70% transactions is still cash
▪ Examples: T-Cash, Sakuku, Mandiri E-cash, BBM
Money, Dompetku, XL Tunai.
October 2018 Understanding Fintech
E-Cash
42. 42
❖ Another payment scheme that operates like a carrier of
e-cash and other information.
❖ The aim is to give shoppers a single, simple, and secure
way of carrying currency electronically.
❖ At times, uniquely identified through e-mail
address/unique number.
❖ Significant different from e-money, it could accommodate
various e-money/payment methods published by other
organizations
❖ Such examples are GrabPay, Blockchain Wallet,
PayPass Wallet, and DokuWallet.
October 2018 Understanding Fintech
E-Wallet
43. Exploring E-Wallet
Serves a function similar to a physical wallet
❖ Holds credit cards, electronic cash, owner
identification, and owner contact information
❖ Provides owner contact information at an electronic
commerce site’s checkout counter
❖ Stores shipping and billing information, including a
consumer’s first and last names, street address, city,
state, country, and zip or postal code
October 2018 Understanding Fintech 43
44. Exploring E-Wallet (cont’d)
Decide on an online site where you would like to shop
Download a wallet from the merchant’s website/Sign up on the website
itself to create your Digital wallet
Transfer fund from your bank account into your digital wallet
When you are ready to buy, click on the wallet button, the buying
process is fully executed
The Digital Wallet’s will check if there is enough E Cash in the wallet
and if yes, then the transaction is completed and the purchase is made
44October 2018 Understanding Fintech
45. Type of E-Wallet
Server Side
• A server side electronic wallet stores a customer
information on the remote server belonging to a particular
merchant or wallet publisher
Client Side
• A client side electronic wallet stores customer information
on his/her own computer.
• Many of the early electronic wallet were client side wallet
that require users to download the wallet software
October 2018 Understanding Fintech 45
46. Based on Usage
October 2018 Understanding Fintech
Closed Wallet
A closed wallet is one
that a company issues
to its consumers for in-
house goods and
services only. These
instruments do not
carry the advantage of
cash withdrawal or
redemption
Semi-Closed Wallet
A semi-closed wallet
can be used for goods
and services, including
financial services, at
select merchant
locations or
establishments that
have a contract with
the issuing company to
accept these payment
instruments.
Open Wallet
Such wallets can be used
for purchase of goods and
services, including
financial services such as
funds transfer at merchant
locations or point-of-sale
terminals that accept
cards, and also cash
withdrawals at automated
teller machines
or business
correspondents
46
47. Example of E-Wallet
• Agile Wallet
▪ Developed by CyberCash
▪ Allows customers to enter credit card and identifying
information once, stored on a central server
▪ Information pops up in supported merchants’ payment
pages, allowing one-click payment
▪ Does not support smart cards or CyberCash, but
company expects to soon
October 2018 Understanding Fintech 47
48. Example of E-Wallet (cont’d)
• Microsoft Wallet
▪ Comes pre-installed in Internet Explorer 4.0, but not in
Netscape
▪ All information is encrypted and password protected
▪ Microsoft Wallet Merchant directory shows merchants
setup to accept Microsoft Wallet
October 2018 Understanding Fintech 48
50. Example of E-Wallet (cont’d)
Google Wallet
• Mobile payment system developed by Google
• Allows users to store debit cards, credit cards, loyalty cards
etc
• Uses Near Field Communication to make secure payments
fast and convenient by tapping the phone on pay press
enable terminal
• Works with 30,00,000+ MasterCard merchant locations
October 2018 Understanding Fintech 50
56. Advantages of E-Wallet
• Convenience
Makes online shopping easier because it fills in an online order
form automatically
• Competitive Advantage
A great advantage for online merchants, because customers
sometimes abandon online purchases if they feel the order
form is too confusing or frustrating
• Greater revenue opportunities
Open up a new aspect of payment methods in large markets
introducing many business opportunities and greater
potential revenue
October 2018 Understanding Fintech 56
57. • System Outages
Information for E-Wallets are stores on the cloud of business
server, therefore the risk of a system malfunction or shut down
is always present.
• Security
Must ensure their customers’ information is encrypted and well
protected.
• Investment
Initial monetary investment is quite large as it requires the
development of the software as well as continual maintenance.
Disadvantages of E-Wallet
October 2018 Understanding Fintech 57
60. Digital Currency
• Part of E-Cash or E-Money known as Virtual Currency
• Bitcoin is the first decentralized, crypto digital/virtual
currency
• Peer-to-Peer currency with mathematic protection
• No centralized control/Central Bank
• Based on cryptographic proof (SHA256) instead of trust
• Developed by a person/group under pseudonym of Satoshi
Nakamoto (2008)
• Operational since early 2009
• No financial institutions involved or managed
October 2018 Understanding Fintech 60
61. Digital Currency (cont’d)
Example of Digital/Virtual Currency centralized and not
crypto: https://koinworks.com/lender?locale=id
October 2018 Understanding Fintech 61
63. Navigating Bitcoin Further
•The Satoshi is the smallest unit of bitcoin recorded on
blockchain (it's a one hundred millionth of a single bitcoin
(0.00000001 BTC)
•https://www.cryptocoincharts.info/coins/info claims to be
indexing 4,220 cryptocurrencies
•Bitcoin is one of the Blockchain digital assets.
•Most circulated: Bitcoin, Ethereum, Litecoin
October 2018 Understanding Fintech 63
66. BTC Transactions
• Straight away between owner and receiver
• Broadcasted through Peer-to-Peer (P2P) network
• All are public but anonymous
• Mining nodes collects the transactions into Blocks
October 2018 Understanding Fintech 66
67. BTC Transactions (cont’d)
• Transactions Blocks Full
page in a Ledger Book
• Block contains information
about transactions and
previous Block (Block
Chain) linking to the first
block when Bitcoin Network
started.
October 2018 Understanding Fintech 67
68. Technology Behind Bitcoin
68
•Think of Bitcoin as an electronic asset other than
digital, crypto currency
•A network of computers keeps track of Bitcoin
payments and adds them to an ever-growing list of
them which have been made, called “The Bitcoin
Blockchain”.
•The file that contains data about all Bitcoin
transactions is often called a “ledger”.
October 2018 Understanding Fintech
69. Technology Behind Bitcoin (cont’d)
69
•Bitcoin value is created through transaction
processing, referred to as “mining”.
•Mining is performed by distributed processors
called “nodes” of the peer-to-peer network.
•Blockchain without digital asset in this case crypto
currency? NO.
October 2018 Understanding Fintech
71. Bitcoin Advantages
• BTC software unchangeable without majority users within entire
network accepting the change
• While majority of nodes are honest, attackers cannot harm the system
• Attacker would need astronomical computer power to corrupt block
chain
• No government can print more money
• Anonymity
• Lower global transaction costs
• New bubble may emerge (?): Oct13 = USD150 while Nov13 is more
than USD500
• March 2013: BTC passed 1 Billion USD (around 11 million Bitcoins in
circulation)
October 2018 Understanding Fintech 71
72. Smart Cards
▪ Any pocket-sized card with embedded integrated circuits
which can process data
▪ Known as Chip Card, Integrated Circuit Card (ICC) Card,
Stored-Value Cards
▪ Example: Flazz, Mandiri E-Toll/E-Money, Starbucks Card, etc
▪ Contact
Have a contact area of 1cm comprising several gold-plated
contact pads
These pads provide electrical connectivity when inserted into a
reader
Pass data to and from the embedded microchip
October 2018 Understanding Fintech 72
73. Smart Cards (cont’d)
▪ Contactless/Promixity
Communicates
with and is
powered through
RFID
Require only
proximity to
antenna to
communicate
October 2018 Understanding Fintech 73
74. Smart Cards (cont’d)
Smart Card Reader
Activates and reads the contents of the chip on a smart card, usually
passing the information on to a host system
Smart Card Operating System
Special system that handles file management, security, input/output
(I/O), and command execution and provides an application programming
interface (API) for a smart card
October 2018 Understanding Fintech 74
75. Payment Cards
Electronic card that contains information and used for payment
purposes
Membership Cards known as Charge Cards
• Issued by non-financial organizations often times by strategic
partnership with banks
• Utilized to maintain their customers/buyers
• Part of the organization’s Customer Relationship
Management (CRM).
• Mostly could only be topped-up through bank transfer and
credit card.
• Example: Starbucks card, Indomaret Card, Alfamart Card,
Circle K Card.
October 2018 Understanding Fintech 75
76. Payment Cards (cont’d)
Other than Membership Cards are Credit Cards and Debit
Cards.
▪ Processing activities
Authorization
Determines whether a buyer’s card is active and whether
the customer has sufficient funds
Settlement
Transferring money from the buyer’s to the merchant’s
account
October 2018 Understanding Fintech 76
77. October 2018 Understanding Fintech
Payment Cards (cont’d)
Address Verification System (AVS)
Detects fraud by comparing the address entered on a Web page
with the address information on file with cardholder’s issuing bank
Card Verification Number (CVN)
Detects fraud by comparing the verification number printed on the
signature strip on the back of the card with the information on file
with the cardholder’s issuing bank
77
78. October 2018 Understanding Fintech
Use Case of Smart Cards
Retail Purchases
E-Purse
Smart card application that loads money from a card holder’s bank
account onto the smart card’s chip
Common Electronic Purse Specification (CEPS)
Standards governing the operation and interoperability of e-purse
offerings
Transit Fares
To eliminate the inconvenience of multiple types of tickets used in public
transportation, most major transit operators in the US are implementing
smart card fare-ticketing systems
78
79. October 2018 Understanding Fintech
Use Case of Smart Cards (cont’d)
E-Identification
Because they have the capability to store personal information, including
pictures, biometric identifiers, digital signatures, and private security keys,
smart cards are being used in a variety of identification, access control,
and authentication applications.
Health Care
▪ Storing vital medical information in case of emergencies
▪ Preventing patients from obtaining multiple prescriptions from different
physicians
▪ Verifying a patient’s identity and insurance coverage
▪ Speeding up the hospital or emergency room admissions process
79
80. Near Field Communication
• NFC is the latest payment method introduced to the
world.
• It is not based on cash in the wallet but storing card
information on the phone to be used in a mobile wallet or
to use NFC.
October 2018 Understanding Fintech 80
81. Electronic Credit Cards
• Credit-card-sized device holds
other credit cards
• Swap from card to card
• Even store gift cards inside its
ultra-thin innards
• Uses low-power Bluetooth to
connect to our iOS device
coupled with a standard credit-
card reader
• Holds up to eight cards
• EMV-NFC ready
• Video 1 and 2
October 2018 Understanding Fintech 81
Image courtesy of Techcrunch
82. Nuts and Bolts of Payment Cards
• Advantages
1.Atomic, debt-free transactions
2.Feasible for certain value of transactions
3.(Potentially) anonymous
4.(Potentially) currency-neutral
5.Security of physical/virtual storage
• Disadvantages
1.Low maximum transaction limit mostly due to laws and regulations (not
suitable for B2B or most B2C)
2.High infrastructure costs (not suitable for C2C)
3.Security of physical/virtual storage
October 2018 Understanding Fintech 82
83. Elements of e-Payment
▪ Client Software
Use of web browser for browsing encrypted information
▪ Merchant Server Software
Some solution providers design custom application software for
the merchant, while others integrate functions with the web
server
▪ Payment by the Customer
Customer can make payment using a credit card, buy e-cash
from a participating bank, or through an automated clearing
house (ACH)
October 2018 Understanding Fintech 83
84. Elements of e-Payment (cont’d)
▪ Payment to merchant
In debit based transaction, merchant gets payment immediately,
from customer’s bank in his account, through ACH, through a bank
transfer
▪ Transaction Cost
Cost per transaction varies for credit and debit transactions and
with the service provider
▪ Risk
In most of the solution provided, the risk is the merchant for
fraudulent transactions
October 2018 Understanding Fintech 84
85. Secure Electronic Transaction
❖Widely known as SET (Protocol) is jointly designed by
MasterCard and Visa with backing of Microsoft, Netscape,
IBM, GTE, SAIC, and others
❖Designed to provide security for card payments as they
travel on Internet
❖ Contrasted with Secure Socket Layers (SSL) protocol, SET validates consumers and
merchants in addition to providing secure transmission
❖ SET specification
❖ Uses public key cryptography and digital certificates for validating both consumers and
merchants
❖ Provides privacy, data integrity, user and merchant authentication, and consumer
nonrepudiation
October 2018 Understanding Fintech 85
87. SET Security Requirements
▪ Authentication (only authorized individual or group
does and is allowed for the transaction)
▪ Integrity (money doesn’t change during the transfer)
▪ Non-Repudiation (No party can deny its role in the
transaction)
▪ Privacy (money and good are exchanged atomically)
▪ Safety (money is not lost during a transfer)
October 2018 Understanding Fintech 87
88. Secure SET Infrastructure
• Authentication
– Many tools available to confirm the authenticity of a user.
– Passwords and ID numbers are used mostly
• Public Key Cryptography
– Use one public and one private to encrypt and decrypt data
– Sender can then encrypt the message with the public key and receiver can use
the private key to decrypt the message.
• Digital Signature
– An electronic one use to authenticate the identity of the sender of a message
October 2018 Understanding Fintech 88
89. Secure SET Infrastructure (cont’d)
• Secure Sockets Layer (SSL)
– Commonly used protocol for managing the security of a message
transmission
– Uses the public-and-private key encryption system
– Program layer located between HTTP and TCP
• Certificate
– The issuer verified the identity of the individual
– Symantec Certificates
– GeoTrust
October 2018 Understanding Fintech 89
91. Payment Gateway
▪ A system that provides and authorizes payments
▪ Protects payment and credit cards details encrypting
sensitive information.
▪ Make sure information passes securely between
customer and merchant and also between merchant
and payment processor
▪ Let us know whether a charge is approved by
cardholder’s bank, and then submits charge to the bank
for settlement
October 2018 Understanding Fintech 91
93. Payment Service Provider
• As known as Payment Processor (PP)
• A system that connects cardholder’s bank with
merchant’s bank, and card brands (e.g. Visa, Mastercard,
Discover, etc.)
• Take money from cardholder’s bank account and deliver it
to merchant’s bank account
• More than 900 payment providers in the world (300 offer
services for Europe and North-America)
October 2018 Understanding Fintech 93
113. 113
▪ According to Indonesia Central Bank (BI), the
organization need to protect the user/consumer
particularly data and information privacy and
confidentiality through cyber security network.
▪ In saving, lending, and equity pads, the player
must comply with macroprudential, have adequate
knowledge in financial market, payment system to
support cyber security and operational activities.
October 2018 Understanding Fintech
What the Regulator Do?
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114. 114
▪ In investment and risk management sphere,
same things applied in saving, lending, and
equity pads.
▪ In payment, settlement, and clearing areas,
the organization have to ensure the protection
of the user/consumer particularly in regard to
data and information privacy through cyber
security network.
October 2018 Understanding Fintech
What the Regulator Do? (cont’d)
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115. 115
▪ Facilitator
Provide playing fields of payment network and
traffic.
▪ Intelligent Business Analysis
Through strategic partnership with international
authority and organizations, BI act as analyst for
fintech firms to give them perspectives and
guidance on how to develop safe and secure
payment system.
October 2018 Understanding Fintech
BI Initiatives on Fintech
116. 116
▪ Assessment
BI monitor and assess any activities related to
fintech and technology-supported payment.
▪ Coordination and Communication
BI maintain the relationship with related authorities
to support the existence of fintech payment
system. Also commit to support businesses in
Indonesia by regularly provide the guidance on
fintech.
October 2018 Understanding Fintech
BI Initiatives on Fintech
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117. 117
To support innovation within financial sphere by
considering customer protection principle, being
prudent and risk management perspective, they
have issued:
1. Peraturan Bank Indonesia (PBI)
2. Peraturan Anggota Dewan Gubernur (PADB)
on
Fintech and Regulatory Sandbox.
October 2018 Understanding Fintech
Indonesia Central Bank
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118. 118
Issued on 29Nov17 about Implementing Fintech
i. They, who provide payment system activities,
are urged to register to BI.
ii. Exception is applied for a) those
organizations that already have the permission
from BI and b) those providers under other
institution authorities i.e. OJK but doesn’t
provide payment system service.
October 2018 Understanding Fintech
PBI 19/12/PBI/2017
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119. 119
On Fintech Provider’s Regulatory Sandbox (RS) issued on
30 November 2017 about ‘Ruang Uji Coba Terbatas
(Regulatory Sandbox) Teknologi Finansial’.
The fintech provider, upon being successfully
listed at BI, are urged to do the demonstration
on their product/service/technology/business
model to BI through RS.
October 2018 Understanding Fintech
PADG 19/14/PADG/2017
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120. 120
They have to fill-in the respective form and submit
numerous supporting documents as required in ‘Formulir
Penyampaian Dokumen Regulatory Sandbox’.
Through another regulation PADG 19/15/PADG/2017, the
methodology and testing processes have also been
unveiled.
Requirements to enroll the sandbox: i) successfully listed at
BI then ii) requested by BI.
October 2018 Understanding Fintech
PADG 19/14/PADG/2017
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121. 121
The current payment system provider, if they launch new
product/service/technology/have new business model
related to fintech are also urged to provide the info on their
product, service, technology and or business model.
They need to fill-in pre-designed form and submitt relevant
documents referred to the form named in ‘Formulir
Penyampaian Informasi’.
October 2018 Understanding Fintech
PADG 19/15/PADG/2017
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122. 122
After getting BI approval, the fintech provider is also urged
to provide the information on their product, service,
technology and or business model.
They need to fill up the pre-designed form and submitt
relevant documents as referred to the form named ‘Formulir
Penyampaian Informasi’.
October 2018 Understanding Fintech
PADG 19/15/PADG/2017
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124. 124
Monitoring
Fintech firms must submit all data and information
requested by BI.
Controlling
Applied to fintech organization playing in payment system
pads that have attained BI approval, been operating for a
while and complied with the central bank rules and
requirements.
October 2018 Understanding Fintech
Monitoring and Controlling
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125. 125
The full list could be seen at
www.bi.go.id/id/sistem-
pembayaran/fintech/Pengumuman-
Penyelenggara/Contents/default.aspx
October 2018 Understanding Fintech
Fintech
Companies
Registered at
BI
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126. 126
▪ Warning Letter
▪ Fine
▪ Temporary freezing of the organization either partially or fully
business activities
▪ Getting delisted from the BI list
▪ Certain actions related to the provision of payment system
activities
▪ Recommendation to the official authority to revoke the firm’s
business license
▪ Revoke the firm’s license as payment system service
provider
October 2018 Understanding Fintech
Sanctions towards PBI
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127. 127
Issued on 29 December 2016 on Peer-to-Peer Lending
(‘Layanan Pinjam Meminjam Uang Berbasis Teknologi
Informasi’)
Constitutes of
1. The regulation itself (POJK Fintech)
2. The explanation (Penjelasan POJK Fintech)
3. The appendix separated document (Lembar Pemisah
Lampiran)
4. The Appendix (Lampiran POJK Fintech)
5. The form (Formulir 3 Fintech)
October 2018 Understanding Fintech
POJK No. 77/POJK.01/2016
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128. 128
Issued on 15 August 2018 on ‘Inovasi Keuangan Digital di
Sektor Jasa Keuangan’
Constitutes of
1. The regulation itself (POJK Fintech)
2. The explanation (Penjelasan POJK Fintech)
3. The appendix separated document (Lembar Pemisah
Lampiran)
4. The Appendix (Lampiran POJK Fintech)
5. The form (Formulir 3 Fintech)
October 2018 Understanding Fintech
POJK No. 13/POJK.02/2018
129. 129
PBI No. 18/40/PBI/2016 on ‘Penyelenggaraan Pemrosesan
Transaksi Pembayaran’ issued on 9 November 2016.
Surat Edaran Bank Indonesia (SE BI) No. 18/22/DKSP on
‘Penyelenggaraan Layanan Keuangan Digital’.
PBI No. 18/17/PBI/2016 on ‘Uang Elektronik’.
SE BI No. 18/21/DKSP on ‘Penyelenggaraan Uang
Elektronik’.
October 2018 Understanding Fintech
Other PBI and POJK
135. Future State of E-Wallet
• Automatic Bill Payments
Will be able to make bill payments on behalf of the used by
scheduling payment intervals for electronic bills and
invoices
• Loyalty redemption
Real time reporting of points accrued under loyalty schemes
• Personal Information access
It will become a single access point to all personal
information including medical, insurance, mortgage etc.
October 2018 Understanding Fintech 135
136. Future State of E-Wallet (cont’d)
• Preemptive Purchasing
It can make a list of purchases based on your purchase
habits and remind the consumer to make these purchases
on a regular basis
• Person to Person Payments
It’ll be possible to transfer a payment from one person to
another simply by pointing two “wallet enabled devices” at
each other
October 2018 Understanding Fintech 136
139. Blockchain is the Future (cont’d)
139
• A technology that permits
transactions to be gathered
into blocks and recorded.
• Cryptographically chains
blocks in chronological order.
• First introduced in
whitepaper “Bitcoin: A Peer-
to-Peer Electronic Cash
System,” by Satoshi
Nakamoto in 2008.
October 2018 Blockchain Essentials
140. What is Blockchain?
140
• A Distributed Transaction Ledger
• Every block contains multiple transactions
• Massively duplicated across network nodes
• Shared with a P2P file transfer protocol
• All network nodes perform transaction validation and
clearing.
• Updated by peculiar nodes, known as miners, appending
new blocks of transactions
• Miners perform the additional work required for settlement.
October 2018 Blockchain Essentials
141. What is Blockchain? (cont’d)
141
Whilst Bitcoin themselves:
• No reliance on trust
• Digital signatures
• Peer-to-peer network
• Proof-of-work
• Public history of transactions
• Honest, independent nodes control majority of CPU computing
power
• Nodes vote with CPU computing power
• Rules and incentives enforced through consensus mechanism
October 2018 Blockchain Essentials
142. What is Blockchain? (cont’d)
142
To imagine:
“Giant interactive
Google doc
spreadsheet that
anyone can view
and administrators
(miners)
continually verify
and update to
confirm that each
transaction is
valid”
October 2018 Blockchain Essentials
146. How Blockchain Benefit Business
146
• Transparency and cryptography add resilience of data
• Audit electronic actions to easily complete forensic
analysis if a hack occurs
• If something was changed, Blockchain would become
invalid at that point and broadcast the error to all
nodes
• Immutable logging and connection of data to create a
tamper-proof chain of data
October 2018 Blockchain Essentials
147. How Blockchain Benefit Business (cont’d)
147
• Immutable data means accurate reporting and
analytics
• Immutability means that it allows any fraud or error to
be identified and corrected, eliminating any single
point of failure and making it easy to have a correct
record of all behaviour at any point in time.
• If a past data entry is tampered, it will make the block
invalid, which both cancels the upcoming transaction
and shows data that was tampered with.
October 2018 Blockchain Essentials
148. How Blockchain Benefit Business (cont’d)
148
• Immutable data means accurate reporting and
analytics
• Immutability means that it allows any fraud or error to
be identified and corrected, eliminating any single
point of failure and making it easy to have a correct
record of all behaviour at any point in time.
• If a past data entry is tampered, it will make the block
invalid, which both cancels the upcoming transaction
and shows data that was tampered with.
October 2018 Blockchain Essentials
149. Blockchain Market Overview
149October 2018 Blockchain Essentials
Source: World Economic Forum (WEF) Report, 2017
Note
DLT: Distributed Ledger Technology