bit trade labs sovereign identity fintech summit 2016
TRANSCRIPT
![Page 1: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/1.jpg)
@bittradelabs
![Page 2: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/2.jpg)
Narrative:A spoken or written account of connected events; a story.
![Page 3: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/3.jpg)
The longest chain serves as proof of the sequence of events witnessed... - Satoshi
![Page 4: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/4.jpg)
A shared, immutable narrative.
What is the Blockchain?
![Page 5: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/5.jpg)
Sovereign Identity
The ObjectChain Collaboration
![Page 6: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/6.jpg)
Bit Trade Labs are currently
developing the ObjectChain identity
scheme, a program funded by
Barclays Bank in the UK.
The ObjectChain Collaboration:
![Page 7: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/7.jpg)
The Problem of Identity in 2016
![Page 8: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/8.jpg)
Ancient Problem, Ancient Infrastructure
[1] Why Cylinder Seals? Engraved Cylindrical Seal Stones of the Ancient Near East, Fourth to First Millennium B.C. Edith Porada, The Art Bulletin,Vol. 75, No. 4 (Dec., 1993), pp. 563-582
Older than the number ‘0’!
![Page 9: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/9.jpg)
[2] Why Do We Sign for Things?, http://www.npr.org/templates/transcript/transcript.php?storyId=345820789
Ancient Infrastructure: Signatures
![Page 10: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/10.jpg)
[3] A Brief History of the Passport http://www.theguardian.com/travel/2006/nov/17/travelnews
Ancient Infrastructure: Passports
![Page 11: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/11.jpg)
Financial System Inquiry:
[4] http://fsi.gov.au/publications/final-report/chapter-3/digital-identity/#P112_26057
“Australia’s current approach to identity management results in
significant process duplication, as individuals apply to, and government
and businesses undertake to, verify and re-verify identities at multiple
points… Anti-money laundering (AML) projects have resulted in an
estimated $725 million in expenditure… In 2011, Australians lost an
estimated $1.4 billion through personal fraud incidents.”
![Page 12: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/12.jpg)
The Current Model:
● Information duplicity: sensitive information sent to multiple parties
● Liability of storage each party● Many ‘honeypots’ for hackers to
attack
![Page 13: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/13.jpg)
The Proposed Model:
● Data held immutable by the blockchain.
● Hardens trust over time. ● Canonical source of data.● Identity remains the Ownership
of the individual.
![Page 14: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/14.jpg)
What does this enable for individuals?
Security
No walled honeypots
Control
User permits access to Id
Audit
Access is logged
![Page 15: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/15.jpg)
What does this enable for service providers?
Realtime Updates
Instead of ‘one chance to ask’.
Less Liability
Separate transaction data from id
Veracity of Data
Current and latest
![Page 16: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/16.jpg)
Data as a toxic asset
![Page 17: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/17.jpg)
The Collaboration: StreamsCivil Adoption
![Page 18: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/18.jpg)
Commercial opportunities:
![Page 19: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/19.jpg)
Proof-of-Concept:
![Page 20: Bit trade labs sovereign identity fintech summit 2016](https://reader031.vdocuments.us/reader031/viewer/2022030308/58ed06151a28ab8d0d8b4609/html5/thumbnails/20.jpg)
We look forward to working with you
bittradelabs.com
@bittradelabs