How Blockchain Might Impact Financial Markets & Services

This course can also be presented face to face in-house or via live in-house webinar.

How Blockchain Might Impact Financial Markets Course Objectives

To separate the hype and hysteria from reality in order to understand exactly what Blockchain is all about and what impact it might have on financial markets and services.

The Participants:

Anyone with an interest in the subject.

How Blockchain Might Impact Financial Markets Course Content

Session 1 – What is a Crypto – currency and how does it use Blockchain

  • A brief history
  • How do crypto-currencies work
  • What platforms are used
  • The importance of miners
  • Mining syndicates
  • Proof of work & Consensus
  • Different crypto-currencies available

Case Study – simple example of how a crypto currency works

 Session 2 – Blockchain  & DLT

  • What is a Blockchain
  • Distributed Ledger Technology
  • Blockchain Technology
  • Cryptography
  • Building a Blockchain
  • Using a Blockchain
  • Uses/Effects/Advantages in different sectors -private/ Govt /Para-statal Bodies
  • Principle uses of Blockchain to date
  • Private versus public DLT

Case Study – Simple examples of blockchains

Session 3 – How might DLT change Financial Services & Markets

  • The claims
  • The possibilities
  • The likely reality
  • The capacity to disrupt
  • The capacity to enhance
  • The threats and weaknesses

Session 4 – Specific Possibilities with Examples

  • Travel Insurance
  • Liability Insurance
  • Insurance Underwriting
  • Securities Trading & Clearing
  • Payments
  • Trade Finance – Especially commodities and supply chains
  • Property Finance, Mortgages, Land Registration
  • Smart contracts
  • Guarantees
  • Syndications
  • CDD & FCC
  • Data Protection

 Session 5 – What are the obstacles

  • Key constraints
  • Existing processes
  • Market resistance
  • Client resistance
  • Regulatory resistance

Case Study – Examples of what the obstacles 

 Session 6 – Regulation of Crypto-currencies  and Blockchain

  • A “wait and see approach” for now
  • FCA approach
  • EU approach
  • Bitlicense
  • Swiss initiatives on ICO’s
  • OFAC guidelines
  • The strengths and weaknesses of regulation

Case Study: Simple examples of what has happened to date.

Session 7 – Putting It All Together

  • What has happened so far
  • Why has it not been implemented en-masse yet
  • What will the next stage be
  • What should financial institutions be doing now
  • The future?

END

Background of the Trainer

Your How Blockchain Might Impact Financial Markets course director has spent more than 40 years in the banking and financial sector, much of it in a senior managerial/Director role. He is a former Institute of Banking Lecturer, having gained distinctions in the exams. He is a subject matter aspect on all aspects of retail, corporate and global banking, including risk management and regulatory compliance. He has lectured extensively to both leading global financial institutions and to smaller bespoke specialists. He has delivered extensive programmes in all parts of the world including the USA, Europe, MENA, Africa and Hong Kong. He is currently an accredited Master Trainer for Risk and FCC training at the world’s biggest global bank.

How Blockchain Might Impact Financial Markets Course Summary

Blockchain or to call it by its more technical name, Distributed Ledger Technology (DLT), is the ledger system used by Bitcoin and other crypto-currencies to run the settlement and reconciliation of crypto transactions. Since its inception in 2009, Bitcoin has provided a free field test of Blockchain’s capabilities in probably the most hostile environment. Most serious commentators agree it is a proven, cyber-resilient and highly secure version of Distributed Ledger Technology (DLT) which has so far been impervious to outside attack. All losses on Bitcoin exchanges have occurred through either intermediaries or hot wallets not from attacks on the DLT.

DLT is not actually new and has been around since the 1990’s. It was adopted by Satoshi for Bitcoin and has delivered in all aspects. Financial institutions are excited about the possibilities of DLT in a commercial application. Indeed, it is claimed by some very high profile supporters that it has the capacity to revolutionise the way financial institutions manage both payments and their FCC obligations. Its supporters talk in terms of “world changing” possibilities.

This interactive course describes the Blockchain DLT and the possibilities for reshaping the financial world in a language that the non-IT specialist can understand. It covers the topics in detail, cuts through all the hype and offers a balanced and measured description of the possibilities on offer.

Redcliffe has provided in-house training for the following companies:

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