101 blockchains think tank webinar series live webinar · 2020. 4. 9. · global trade volumes asa...
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LIVE WEBINAR
Hosted by
Enrico Camerinelli
VP Research, 101 Blockchains
Addressing the challenges of global trade with blockchain➢Blockchain is more than just the technology-
10 things to consider
➢Scaling Strategy- The importance of Sales and Marketing
➢An information security strategy to support the phases of growth
101 Blockchains Think Tank Webinar Series
Ciaran McGowan
CEO, we.trade
101 Blockchains Think Tank Webinar Series
LIVE WEBINAR
Hosted by:
Ciaran McGowan
CEO, we.trade
Enrico Camerinelli
VP Research, 101 Blockchains
Addressing the challenges of global trade with blockchain
LIVE WEBINAR
The webinar will commence in a few minutes
101 Blockchains Think Tank Webinar Series
Addressing the challenges of global trade with blockchain
101 Blockchains Think Tank Webinar Series
LIVE WEBINAR
Hosted by:
Ciaran McGowan
CEO, we.trade
Enrico Camerinelli
VP Research, 101 Blockchains
Addressing the challenges of global trade with blockchain
Webinar Topics
➢Blockchain is more than just the technology- 10 things to consider
➢Scaling Strategy- The importance of Sales and Marketing
➢An information security strategy to support the phases of growth
LIVE WEBINAR101 Blockchains Think Tank Webinar Series
we.tradeExecutive Summary
Bank customers in 15 countries
16
€4mRecurring Revenue
10xSignificantly higher transactions
than any comparable platform globally(ci rca 10x)
Fi rs t to market with agreed governance framework - Rulebook
Maturi ty of Platform
Technical first on IBM Hyperledger blockchain technology
1stWTO Report
Blockchain
41%Financing Products
ComplianceHigh Bar of Achievement forSecuri ty and Compliance
Blockchain - More than Just the Technology10 things to consider
1. Strategy – Network Intent & Value Proposition for all stakeholders2. Network PACE - Banks and Value Added Partners3. Customers – SME’s, Small and Mid sized Corporates4. Scaling Strategy – Opportunity, Competition, Sales & Marketing5. Products & Partnerships6. Technology and Roadmap7. Operations & Security – On boarding, Integration and Support8. Commercialization – Activities9. Governance – Board, Councils and People Management10. Legal
more trust. more trade.
1. Strategy – Network Intent & Value Proposition for all stakeholdersBuild a Network of networks
GLOBAL TRADELand transport records
Airl ine’s records
Port’s records Ocean carrier’s records
Authori ty's records
INDUSTRIAL TRADE
Manufacturing
Regulatory / compl iance Wholesale
Retail
Consumers
Providers
Provider
Consumers
TRADE FINANCE
Package Process
Regulatory / compl iance
Replace pre-payments with bank secured payments or credit insurance
Buyer Seller InsurerBuyer Bank Seller Bank
New revenue streams:
• each PO/invoice is new finance opportunity
• Financing can originate upstream, e.g. pre-shipment
Opportunity to add new bank services:
• BPU – for buyer's bank
• Finance – for seller's bank
Reduced costs
Access to critical analytics and customer insights
Shipper
Payment risks mitigated
Easy access tofinancing
Additional channel to drive sales & revenues
Ability to offer integrated services –e.g. live goods-in-transit tracking via IoT
Ability to link settlement conditions to status of goods-in-transit & status of good delivered
Additional channel to drive sales & revenues
Insurance integrated into each trade; Single debtor insurance cover
Easier management ofPolicies
Opportunity to add new Insurance services such as ratings & reports
1. Value PropositionFor each party in the value chain
2. Network PACE - Banks and Value Added Partners16 banks across 15 countries – Most dense Network in Europe today4 Phases - Onboarding, Pilot, Soft Launch, Launch
80% of Czech market
Free Domestic trading
2. Network Intent and Smart Contract VisionGeneric end-to-end trade flow | 3rd party integration | event based payment triggers
3. Customers – SME’s, Small and Mid sized Corporates75% International vs 25% domestic trade. 74% were large SME companies with an avg. turnover of €20m-€50m
Trader Industry Analysis Trader Turnover Size €M
52% Clothing, Apparel, Fashion
39% Industry & Manufacturing
3% Food
3% Other
1% Entertainment & Leisure
1% Medicine, Medical Devices, Pharma
1% Construction
74% — €20M to €50M
22% — < €20M
1% — €50M to €100M
3% — €100M to €500M
Products
41% of transactions include financing
14% BPU Financing
27% BPU
59% Auto-settlement
3%
74%
1%
22%
52%
4%
39%
3%
3. Use CasesWhat end customers are using we.trade for
4. Scaling Strategy – Opportunity, Competition, Sales & MarketingImpact on Global Trade | Market Opportunity
1. Bain & Company; 2. IDC; 3. Allied Market Research; 4 Markets and Markets
Global trade volumes as a result of blockchain technology by 2026 (6% of total
trade of $17.1 Trillion)1$1.1 Trillion
$2 Billion1
ShipperBank Insurer
Annual revenue from
blockchain-based
documentary trade
finance by 2026
$9.8 Billion3
Blockchain in
supply chain
market by
2025
$1.4 Billion4
Blockchain in
insurance
market
by 2023
84.9%CAGR4
80.2%CAGR3
74.7%CAGR2
4. Competition - Other Market PlayersNov-19 WTO/TFG/ICC report categorises we.trade as “Stage 3” in the market, with only commodity-house focused Komgo ahead
1. https://www.wto.org/engl ish/res_e/booksp _e/blockchainrev19_e.pdf
Status1
FocusCommodity houses, KYC,
digital LC
Open account and “LC-lite”
Ownership validation, cert.
of docs
Working capital finance
LC digitisationDigitising trade
documents
Real-time traceability,
eliminate fraud
Reduce pain points in trade
finance
Markets
Global focus incl. non-bank consortia members
Global focus (Initially Europe)
India, with 14 Indian banks
Global focus from the beginning
Global focus from the beginning
Asia-Pacific, based in Hong Kong; 12
APAC banks
China, with 28 banks in
Shenzhen
Singapore, HK, and connection
with others (e.g. we.trade)
Edge
Live since Dec-2018; as of Sep-19 $1b+ financing via
platform
Live since Jan-2019; Agreed
rulebook; 300+ live customer transactions
Agnostic to underlying DLT
technology
Low barrier to entry for banks;good marketing
Focus on LC digitisation – to create exchange
& approve
People’s Bank of China
Stage 1 Stage 1Stage 1Stage 2.3Stage 2.3Stage 3
4. Scaling Strategy - Sales & MarketingMore members + more traders = more transactions
Channel StrategyBanks, Insurers & Logistics Companies
INCREASED TRANSACTIONS DRIVES MEMBER ACQUISITION
TractionAsia
India, HK,Singapore,Malaysia
Indonesia,Thailand,
Phi l ippinesAfrica
SA & Morocco
DevelopingMiddle East
UAE, S. Arabia
Europe
NewAmericas
CanadaUSA
Latin AmericaChi le, Brazil
Mexico
AsiaS. Korea
Japan, China
Geographic Strategy Technical Implementation Strategy
A. An international bank in a new territory outside of Europe gets a node on the network either in the European cloud, On Premise or on a local
territory node
B. We implement a full stack sale with IBM in a new territory which would comprise of the following elements:
1. we.trade application License2. Localization requirements • Data Sovereignty - Compliance/Legal • Product features and functions• Solution Stack Support3. SaaS Hosting4. IBM Blockchain platform
A. Leveraging existing we.trade banks through their global affiliates
B. Scaling internationally through our Strategic Technology Partner IBM who have a global presence and resources
in each of the target Geographies
C. Partnering with Value Added services providers like including Logistics, Credit Rating and Insurance companies
D. Partnering with “Enterprise Dating Agency” Platforms
5. Products & PartnershipsValue added Service Partnerships to bring new products to customers
The current offering consists of four financial products (two payment & two financing):
1. Auto-Settlement: automation of payment based on pre-agreed conditions
2. Bank Payment Undertaking (BPU): confirmation of buyer’s bank to make a payment to the seller
3. BPU Financing: a financing option for the seller based on the BPU
4. Invoice Financing: a financing option for the seller based on a single sales invoice
Value Added Partnership products e.g. Logistics tracking, eBillof Lading checking, FX hedging, 3rd party payments, credit insurance, transport insurance, credit ratings and reports
• ERP Integration• Purchase Orders, Invoices and Suppliers
6. Technology and RoadmapHigh-Level Features, Functions and Commercialization
Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021Q4 2019
2
• Security & Compliance• 4 Eyes Corporate Governance• Hyperledger Upgrade & Multi-Cloud & Cost Savings• GS1 Standards
1
Logistics Service Providers
Insurance Providers
Trader Directory
4
Expanded commercialization activities by we.trade bank members
5
* Estimated Target Delivery Timeframes
3
Transparency:
Transparency in Goals, KPI and reporting on issues
for
- The board
- Senior Management Team- Customers
Build Trust.
Automation and Self Service:
Ensure that the majority of controls we design and
implement are available to anyone in We.Trade to
consume on a self-service basis or happen
automatically.
Remove Dependencies.
Recognisable Security:
Information security governance framework for the
whole organisation which is recognisable to our
customer base and aligns with internationally
recognised good practice.
Foster Confidence.
Small Footprint:
Maintain small headcount for the security function
by the use of technology and fostering a ‘shift left
culture’.
Stay lean.
Maintain Velocity:
Ensure that controls are designed to be effective but
have the least possible impact on velocity in the
development pipeline.
Don’t cry wolf, truly understand what risk is.
3
7. Operations & SecurityAn information security strategy to support the next phase of growth
1
2 4
5
• Drive Domestic Trade Short Term Initiative
• Pairing Calls between member banks coordinated by we.tradeDriving more trade transactions
• Legal Agreement between BanksData Exchange Notice (aka Sharing Agreement)
• Short term client/counterparty pairing initiative
• Under Data Exchange Notice agreementIBAN (BIC) Pilot Pairing Program (Short Term Initiative)
• 8 Use cases collectively receivedUse Case Collaboration
• Onboard clients 1st to the we.trade platform to facilitate the pairing processOnboard 1st Strategy (New Initiative)
• Confirming what affiliates in what countries will onboard and their plansAffiliates
• Shortened customer agreements to facilitate quicker onboarding to the we.trade platformShortened Customer Agreements
• For the banksSales Incentives
• Clients in each of our member banks agreement to use their company name & logoCompany Logos and Testimonials
8. Commercialization ActivitiesBi-weekly Drive More Transactions Call, 1-2-1s and we.trade Actions Register
9. Governance – Board, Councils and Senior TeamBroad, multi-industry experience | 60 staff in total, including IBM team (30)
Board of Partnership Banks
Management Team
David McLoughlin
Head of
Commercialisation
Business professional withextensive multi-industryexperience in companiesthat include Vodafone, eir, Enterprise Ireland, Fujitsu and Marubeni.
Ciaran McGowan
CEO
Wealth of managementexperience at early-stage
and mid-sized global companies in banking,
aviation & pharmaceutical Industries. IT Directorfor Retail inMotion.
Ty Khan
Head of Business
Development
Responsible for 65%of Trayport’s revenue.Grew turnover from £28 million revenue
to £44 million revenueover a 5 year period.
Eimear Kelly
CFO
Originally worked as Senior Auditor with BDO.
Progressed to varioussenior finance roles with
Kentz & Ballsbridge Hotels. Financial Controller for
Retail inMotion.
Mark Cudden
CTO
Experienced Enterprise Architect with multiple technology companies
Including Houghton MifflinHarcourt, PlanB. GmbH,
Ergo & Element FleetTechnology.
John O’Neill
Head of Security
Certified Security Auditor,Security Consultant for
BSI Group. Head of Technical Operationsfor Retail inMotion, IT Operations Manager,
Imagine Group.
Danny Fitzgerald
Head of Operations
Technology operationsexpert previously working for BP Oil, Element Fleet
Technology, Calypso Technology & Syzygy
Investments.
10. we.trade | Legal4 agreement elements | signed between we.trade and each member organisation
Platform Service
TermsOrder Form
Appendix to the
Order FormRulebook
(common to all members)
A few housekeeping tips
Use the Q&A feature to ask your questions
Enrico CamerinelliVP Research
ARE YOU READY TO JOIN THE BLOCKCHAIN REVOLUTION?
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