Blockchain services and solutions

Blockchain services

Blockchain technology is emerging as a business focus for organizations in several industries, including consumer products, manufacturing, financial services, health care, life sciences, and public sector. Deloitte helps companies and organizations achieve many goals with respect to blockchain implementation—innovation and ideation, strategy development, prototyping, and product development. Our services to guide your blockchain journey include:

Innovation and ideation

• Continuously identify relevant use cases to harvest the benefits of blockchain technologies
• Collaborate with clients to evaluate existing processes, pain points, and goals to brainstorm domains for blockchain adoption
• Enable clients to grasp the broad innovation landscape of blockchain opportunities through our thought leadership and growing ecosystem tracking

Strategy development

• Lead clients in defining blockchain goals and objectives as part of their unique journey with a strategic plan to define “where to play and how to win”
• Craft comprehensive business cases to enable executive buy-in to drive business, technology, integration, talent, and consortium operating models
• Develop strategies to pilot and implement blockchain based solutions for prioritized/selected use cases

Prototyping

• Accelerate build of blockchain prototypes, leveraging our technical expertise, industry knowledge and partnership across platforms, to satisfy unique client requirements
• Leverage our library of over 30 proof of concept solutions to serve as accelerators across supply chain, loyalty, know your customer (KYC), trade finance, identity, payments, and more
• Define an iterative and flexible approach to match the rapid changes in the ecosystem

Product development

• Mobilize our highly trained and technical global blockchain practitioners to not only re-engineer business processes but also build applications
• Deliver as one team in partnership to leverage advanced and effective blockchain technology vendor platforms to cater to client requirements
• Offer our broad set of services, across compliance, technology, talent, operations, and tax, to effectively integrate your blockchain solution

Blockchain solutions

Our global ecosystem of blockchain labs for education, ideation, strategy, prototyping, and development supports our clients in harnessing the opportunities and capabilities that blockchain technology has to offer. Here is a list of our current library of blockchain solutions, and we are continuously working on new proofs of concept and adding to our solutions catalog. For more information about our solutions, please contact the US Blockchain Lab (unless otherwise specified).

Auto lending: A platform that simplifies the indirect auto finance process using blockchain capabilities. The auto lending solution creates an auto loan marketplace that connects dealers, lenders, and customers to facilitate the process of smart loans.

Bancassurance: A distributed ledger technology prototype, using hyperledger fabric, our Bancassurance solution automates labor-intensive processes through smart contracts. The solution facilitates onboarding and premium payments between an insurance company and banks while improving the transparency and productivity of the industry as a whole. 
For more information about this solution, please contact the APac Blockchain Lab.

Business registry and licensing: A blockchain-powered business registration and licensing process that brings together business registrants and government bodies that can access one platform to manage and check the status of a business registrant’s application. Enables a single online service for business owners to interact in a reliable manner with government and allows for more effective digital interactions across levels of government.

Cross-border payments: A working prototype, part of the digital bank, built on top of Stellar and Ripple blockchain rails where customers can send money cross-border simply by knowing the receiver’s phone number or email. This working prototype facilitates direct payments, eliminating the need for intermediaries.

Crypto tags: Secure digital identity plus marketplace potential for physical goods. Combining internet of things with blockchain to demonstrate how a physical asset can be digitized, effectively make  a “digital twin” of an asset.
For more information about this solution, please contact the EMEA Blockchain Lab.

Customer onboarding: Creating a seamless onboarding experience for individuals and organizations. The onboarding module is part of the digital bank accelerator’s broader microservices architecture. Digital identity through blockchain eliminates the overhead for onboarding new customers in a secure and trusted manner.

Digital onboarding integrated with KYC: This solution is based on a blockchain KYC solution that would be shared by a group of financial institutions and used (with the customer’s consent) to speed up the account opening process, eliminating the need for a client to fill in data and upload a document each time they engage with a new institution.

Double financing alert | eMortgage alert: Generates an alert to the primary financier when the same property is financed more than one time. Distributes all mortgage information on the DLT platform, and creates alerts of double financing without exposing the financing parties, customer information, or other sensitive information.

EduScrypt: Facilitates the real-time validation and sharing of certified qualifications, meeting regulatory requirements and enabling organizations to better manage professional qualifications.
For more information about this solution, please contact the EMEA Blockchain Lab.

Fraud detection solution: This blockchain and machine learning-based fraud detection solution facilitates real-time fraud detection, whereby anomalies in transactions are captured and risk scores are generated based on the corresponding transactions IDs in the chain. Identifies behavior associated with malware.

Fund distribution: We are building a solution to demonstrate how blockchain technologies can simplify and improve efficiencies in today’s fund distribution. The process to purchase a fund is significantly simplified for a customer, which may increase customer loyalty and sales volume.

GlobalConnect: Solves the challenge of the existing heterogeneous networks in the global supply chain and trade finance ecosystems, allowing true trade connectivity without compromising the flexibility of the local ecosystem to adopt different technology.
For more information about this solution, please contact the APac Blockchain Lab.

Insurance–first notice of loss (FNOL): Enabling the first notice of loss process, one of the most critical interactions between the insured and insurers, via blockchain. With flood claims as the use case, the objective is to automate the discovery of impacted members of the insured population in areas to be experiencing flood events, as reported by third-party agencies. Use of blockchain for rapid event impact data collection, automated processing of claims that minimizes adjudication efforts based on predefined parameters.

Know your customer (KYC) utility: An innovative distributed ledger technology (DLT) approach to reduce the burden of KYC reporting through the creation of economies of scale among ecosystem players without the need for a unique KYC utility.

LenderBot: This proof of concept provides tools for tracking microinsurance operations from new client onboarding until the contract due date. Using blockchain to facilitate the onboarding process for new clients creates an agile KYC and builds confidence between transaction stakeholders in order to offer new kinds of flexible and personalized solutions.

Loans management |SAP/HANA and blockchain: Deloitte and SAP are collaborating to integrate distributed ledger technology with SAP loans management for banking, SAP S/4HANA edition. Blockchain-based solution that substitutes paper-based certificates of ownership with smart contracts stored in the blockchain. This solution is designed for comprehensively servicing a large variety of lending products, including bonded loans, from loan set up torepayment.

RegChain | MiFID II: Using blockchain technology to improve the MiFID II reporting framework to the European Union (EU). Provide an accessible data layer that sits over existing systems, connecting data from multiple systems to form a single user-friendly view of the customer which satisfies EU regulations such as MiFID II. The solution creates a single source of truth for the data which is replicated across multiple departments without discrepancies due to its shared nature and consensus mechanism.
For more information about this solution, please contact the EMEA Blockchain Lab.

RegChain | Liquidity coverage ratio (LCR): This platform allows banking institutions to create and store liquidity coverage report daily in a manner which proves the data in the report has not been tampered with. It automates the LCR reporting process through a shared platform to enable secure data storage for banks and regulators. The production and access of LCR reports have been dramatically improved, providing daily access to reports as opposed to the traditional monthly view. The platform also provides a complete auditable trail of changes made to data, resulting in near real-time compliance and providing greater transparency. 
For more information about this solution, please contact the EMEA Blockchain Lab.

RegChain | MMIF: Focused on assessing the application of blockchain technology to meet regulatory reporting requirements in a more efficient and cost-effective way. A blockchain solution that streamlines the traditional regulatory reporting process by acting as a central repository for the safe storage and review of large volumes of regulatory data. The POC was initially developed for Irish investment funds, but can be leveraged across any institution that is required to report in a similar manner to the MMIF. 
For more information about this solution, please contact the EMEA Blockchain Lab.

Reinsurance: Reinsurance contracts and settlement on blockchain. The blockchain solution immutable record of reinsurance contracts, increasing transparency and trust among participants. Smart contracts enable automated payments and help manage the transfer of premiums. Reinsurance value chain is complex and operational efficiencies can be realized with a blockchain solution.

Timestamping over blockchain: Dodd-Frank Act Title VII requirements on data immutability can be achieved by leveraging blockchain’s unique features. This solution uses hashing cryptographic functions and leverages the bitcoin blockchain features to achieve data immutability, matching Dodd-Frank Act and CFTC requirements for trade reconstruction and achieving complete auditability.

Track and trace: Enables tracking and tracing of finished goods and materials, providing users with a high level of trust that data viewed and stored on the chain is authentic-from registration to delivery of finished products.

Trade finance platform: Top tier solution to manage the financing activities related to commerce and international trade among multiple parties, such as importers and exporters, financiers, insurers, export credit agencies, and other service providers.

Trade finance | Letter of credit simplification: Letter of credit streamlined and simplified for buyers, sellers, and banks. The process of creating and updating documentation is manual and effort intensive across the transaction lifecycle. This solution digitizes the workflow process across the transacting entities and increases transparency, and can reduce the effort required throughout the letter of credit lifecycle by 60-90 percent.

Transaction reporting: Blockchain can be used as a shared immutable ledger of pre-reconciled transaction reports. New regulations (e.g. MiFIR, SFTR) dramatically increase the scope and volume of transactions to be reported by financial institutions to the competent authorities daily. The solution focuses on the transaction regulatory reporting and performs several processes including upload of file that contains all transactions and data to be reported, delivery of report to competent authority, and dashboarding and audit trail of the day-to-day transaction regulatory reporting. Improves transparency, data reconciliation, and timing issues as well as reducing reporting costs.

Wholesale funds distribution: Prototype enabling investment funds distribution via distributed ledger technology, which increases efficiency of distribution and reduces need for third-party interventions.

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