DISTRIBUTED TRUST AND THE IMPACT FOR THE ACCOUNTANT

Transcription

1 DISTRIBUTED TRUST AND THE IMPACT FOR THE ACCOUNTANT Erich Schnoeckel 23 November 2017

2 DISCLAIMER This document contains certain statements and expectations that are forward looking, and which are based on information and plans that are currently available. By their nature, such forward-looking statements and expectations generate risk and uncertainty because they concern factors and events in the future and depend on circumstances that may not occur. Unforeseen factors that could influence the statements and expectations may, for instance, be changes in expenditures by companies in the markets we operate in; economic, political and foreign exchange fluctuations; possible statutory changes; changes in salary levels of employees; or future takeovers and divestitures. Exact can therefore not guarantee the accuracy and completeness of such statements and expectations, nor that such statements and expectations will be realized. Actual results may differ materially. Exact refuses to accept any obligation to update statements made in this document EXACT CLOUD SOLUTIONS

3 Introduction Erich Schnoeckel Exact Cloud Solutions Program Manager Accountancy Thought Leader Blockchain Masters in Business Economics Fieldhockey Referee, 4 kids, Amsterdam Driving Change, Looking out for challenges in the profession and the way they influence you and me in our daily lives

4 AGENDA HISTORIE CRYPTO CURRENCIES VS DIGITAL ASSETS BLOCKCHAINS CONSENSUS MECHANISMEN AUDITING KANSEN USE CASES TIMELINES

5 EXACT S HISTORY The early years The Dutch garage IT startup, founded in 1984 by six students Going abroad Belgium, Germany, Poland and other countries IPO and acquisitions JobBOSS, Macola, MAX Launch of Exact Online Growth through Focus, Innovation and Simplicity Exact Digital Business Platform

6 Blockchain May 2009 Publication of Bitcoin a peer to peer electronic cash system by Satoshi Nakamoto 1982 Publication of Secure Digital Cash by David Chaum 1990 Foundation of DigiCash First digital money company December 2005 Publication of Triple Entry Accounting by Ian Grigg

7 Crypto currencies Wat is een crypto currency? Waarvoor wordt het gebruikt? Welke voorbeelden zijn er? 7

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10 Digital Assets Wat is een ICO / ITO Wat koop ik dan? Hoe gebruik ik het? Wat is het waard? 10

11 Het probleem 3.7 * tot 4 weken > *Interim Justitia European Payments Report 2017

12 De oplossing Registratie van status veranderingen op een Blockchain Vertrouwen komt uit het consensus mechanism van systeem Data kan beschikbaar worden gesteld aan banken en financiers 12

13 Admin A DOCUMENTS (INVOICES, PACKING SLIPS ETC) SMEA PHYSICAL GOODS SMEB MONEY Admin B BANKS TAX IoT LSP ETC 2017 EXACT

14 SELLER LSP AUDITOR FSP BUYER HAS GOODS BUYS GOODS PRODUCES GOODS SENDS GOODS STORES GOODS REQUEST AUDIT CONTROLS QUALITY AUDITS QUALITY HAS MONEY PROVIDES MONEY WANTS GOODS ACKNOWLEDGE CONTROLS QUANTITY ACKNOWLEDGE REJECT REQUEST FINANCE CHECK OWNERSHIP RECEIVES FINANCE ACKNOWLEDGE REJECT CHECK AUDIT / QUALITY CHECK LOCATION RECEIVES ORDER SENDS CONFIRMATION SENDS INVOICE BUYS GOODS SENDS ORDER RECEIVES INVOICE RECEIVES PAYMENT SEND PRODUCT RELEASE ORDER REPAY FINANCE SENDS GOODS ADJUSST OWNERSHIP RECEIVES REPAYMENT PAYS ORDER RECEIVES GOODS / LOCATION NOTIFICATION 2017 EXACT

15 AUTHENTICATION ERP AGNOSTIC API LAYER FOUNDATION 2017 EXACT

16 Het resultaat Bewijs van eigendom Ontwikkeling van een betaalreputatie van klanten Kwaliteit van goederen Locatie van de goederen Leverbetrouwbaarheid Etc. Minder risico Sneller en makkelijkere toegang tot financiering Lagere rente percentages? 16

17 Voordelen Minder handmatig werk Actueel, betrouwbaar en verifieerbaar Beloning om het goed te doen 17

18 Why Ethereum? Most advanced (and used/tested) blockchain protocol at the moment Open source, implementations in Go, C++, Java and many more Allows execution of smart contracts (written e.g. in Solidity) Private/consortia blockchains can be built, but there is also a powerful public instance Options are still open for other protocols 18

19 Smart Contracts Stukjes code die automatisch in gang gezet worden Worden gepubliceerd in de Blockchain Zijn moeilijk aan te passen en te verwijderen 19

20 Smart Contracts 20

21 EXACT

22 Smart Contracts 22

23 Type Blockchain & Consensus modellen Proof of Work Proof of Stake Public Blockchains Permissioned Blockchains / Consortium Chains 23

24 Uitdagingen voor de Accountant Waardering van Crypto assets Uw klant bezit Bitcoins Toekomstige verplichtingen uit hoofde van de ICO IT Audit kansen van Smart contracts Toegang Functionaliteit Trusted Party Verlies van Private keys Aanleveren van betrouwbare informatie 24

25 Use Cases Invoice Finance Banken Crowd Funding Inventory Finance Logistic Service Provider Haven 25

26 Use Cases Identity Management KYC Self sovereigned Mandaten 26

27 Use Cases Herkomst van goederen 27

28 Impact De veranderende rol van de middle man Notaris, Accountant, Bankier Zelfbeschikking over uw eigen data LinkedIn, Facebook, Uber, Google GDPR Transparantie, Betrouwbaarheid Consensus mechanisme 28

29 Timelines 2016 was het jaar van de ontdekking 2017 het jaar van de Proof of Concepts 2018 het jaar van de eerste succesvolle Use Cases 2019 Productierijpe Blockchain applicaties 29

30 Blockchain Waar haalt u uw kennis vandaan? Blockchain Vlaanderen Maandelijkse meetup Howest Blocklab Onderzoek & Opleiding DigitYser Broedplaats Digital Festival Link met de overheid

31 Blockchain Knowledge and Resources Must read Melanie Swan Don Tapscott Websites Exchanges

32 Wat hebben we niet besproken PSD2 GDPR Big Data XBRL Oneindig veel mogelijkheden voor hergebruik van data No Hands Accounting / Machine Learning / Robotic Accounting Real time banking, real time invoicing Wisdom of the Crowds / Artificial Intelligence / Bots The API Economy / Internet of Things / Industry 4.0 Alles wordt gekoppeld maar hoe Autonomous Organisations / Things as Customer Wie is de eigenaar en wie is aansprakelijk? Identity Management / Know Your Customer (KYC) Wie ben je eigenlijk en wat mag je hier en nu?

33 Gratis inschrijving: exact.com/benl/accountancysummit 2017 EXACT

34 Q&A Erich Schnoeckel