March, 2016

Blockchain Capability Deck

2016 Cognizant
2016 Cognizant

Agenda

World Of Blockchain

Cognizants Blockchain Accelerators

Current Client Engagements

Shortlisted Accelerators in Pipeline

Cognizant Collaboratory

Appendix-I Cognizants Blockchain Accelerators - Detailed

Appendix-II FIs Increasing Focus on Blockchain

2016 Cognizant

What is Blockchain?
Blockchain allows peer-to-peer transfer of value/information without requiring a trusted third party to authenticate a transaction;
every transaction is stored on a single distributed public ledger with cryptography features that make the transaction history
immutable
Imagine there are a group of lockers in a public place.
Each locker:

Is Free of charge

Contains your money and assets

Requires a key to operate. Assets/Money is

inaccessible if key is lost.

Assets are transferred directly from one locker

to another.

All transactions done from all lockers are

captured in a public ledger.

Transactions can be seen on the public ledger

by everyone.

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How it Works

Source: INNOVALUE research

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How it Works ()
Source: INNOVALUE research

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Blockchain Key Characteristics

Allows peer to peer transfer of value without a trusted third party
Unit of Exchange
Currency

Digital Asset

Data/Information

Types

Key Constructs
Append-only ledger
shared & replicated
across the network

Cryptography is a
central feature,
transactions are
secure,
authenticated &
verifiable

Shared
Ledger

Security

Smart
Contract

Network
Consensus

Business logic
embedded in the
Blockchain and
executed with
transactions

All parties agree to

a network verified
transaction by
consensus

Lower cost, increased transparency, greater security, faster settlement

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By Access to Transactions

By Access to
Transaction Processing
Permission less

Permissioned

PUBLIC

YES

YES

PRIVATE

N/A

YES

Blockchain Type

Example

PUBLIC PERMISSION
LESS

Bitcoin

PUBLIC - PERMISSIONED

Consortium Blockchain

PRIVATE - PERMISSIONED

Eris Industries, BlockApps & others

World Of Blockchain
Business Applications
Wallet

Issuance of Shares

Coupon

Exchange

Trading & Settlement

Community Money

Payment Service Provider

Digital Collectibles

Smart Property

Journaling
App

Title
Records

KYC App

Alternate
Payment
Service
Provider

Any Complex Business

Application

Document
Management

List
Continues to
Grow

Leveraging
Open Transactions -(OT)

bitcoin 2.0

World of Blockchain
Decentralized
Company
(DAC)
Decentralized
Application
(DApp)
Decentralized
Exchange
Digital Asset

Smart Contract

Digital Asset

Colored Coin
Colu Colored Coin

CoinSpark Colored Coin

Factom

Counterparty

Side
Chain

File
Storage

P2P
Messaging

SWARM
IPFS
StorJ
MaidSafe
Other(s)

BitMessage

De-centralized App Development

ERIS
INDUSTRIES

NXT

Uses

Tonal BitCoin
(Pegged to BitCoin Blockchain ,
First on-chain alternative

Uses
Merged
Mining

Uses

Uses

Uses

Hydra Chain

BitShares

Whisper
Ethereum

Others

Interoperable
With
Uses
Bitcoin
Blockchain

Ripple

IBM Open Block

Chain

Variance(s)

IXCoin
LiteCoin
DogeCoin
FreiCoin
PeerCoin
PrimeCoin

Other(s)

BitCoin Blockchain

BlockApps

Stellar

NameCoin

First
Decentralized
Currency

Distribution
Consensus T ool
Block Generation Time

BigChainDB

Coins Rewared/block
Unit Cap

Supported tps

Open
Ledger/Hyper
Ledger

Distributed/Decentralized, Append-only, Fault-tolerant, Time stamped Registry implemented as

Public Permissionless OR Public Permissioned (e.g. Proprietary colored coins protocols) OR Private (Permissioned) ledger

Blockchain Core Technology

bitcoin 1.0

Omni
(Previously
known as
MasterCoin)

Coin Prisms Open Asset

Custom
Meta
Data

Alt-Coin Non-Currency

Alt-Coin Decentralized
Currency

Record
Keeping

Smart Contract

Payment
Network&
Exchange

NXT

Consensus
Algo

BitSharesX

Proof-Of-Burn

Transaction

Transaction

Transaction

Owner 1 Pub lic Key

Owner 2 Pub lic Key

Owner 3 Pub lic Key

Ver ify
Hash

Owner 0 Sign atu re

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Sign

Owner 1 Private Key

Legend

Arriving at a Consensus for Block Creation

Ripple
Other
(s)

Ver ify
Hash

Owner 1 Sign atu re

Hash

Owner 2 Sign atu re

Sign

Owner 2 Private Key

Owner 3 Private Key

Proof-of-Stake
(PoS)

PoW & PoS

Hybrid

Proof-of-Work (PoW)

SHA256d

Combo11

Scrypt

Cunnigham

CryptoNight

Others

Cryptographically Secured Chain of

Transaction Data
Organized in Sequential Chain of Blocks

Block

Block

Block

Own Blockchain
Forked

Pre v Hash

Nounce

Pre v Hash

Nounce

Pre v Hash

Nounce

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN

TXN
TXN
.

TXN

TXN

TXN

TXN

TXN

Cognizants
Current
Exploration

Block Chain can potentially bring value in many areas in Financial Services
Retail Banking and Payments

Cross Border Payments

Prepaid / Gift cards
Payment Router
Digital Wallets for any asset

Wills/ Trust management

Reduced costs .
Disintermediation,
distributed infrastructure
and Reduced
reconciliation that may
lead to improved cost
advantages

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Capital Markets

Wholesale Banking

Securities Servicing
Cross Asset Global Recon

Trade Finance

Issuance and Store of Record

Broker Payables

Syndicated Loan process

automation

Derivative Contracts

Self executing B2B contracts

Trade Repository

Improved Security
Reduced Time
Secure transaction ledger
database secured by PKI
which is shared in an
established, distributed
network.

Transfer of assets is near real

time with all the nodes
confirming the transaction
finalization

Utility

KYC Registry
AML/Risk Compliance
Data management
Identity management

Contract management

Immutable proof of
record .
Real time track of
transaction with no
possibility to change the
history of record

Cognizants Blockchain Accelerators

Enablers

Description

CRYSP

Allows for exchange rate comparison across

multiple payment providers for cross currency
payments

Decision engine for Routing

cross currency Payments

CRYMSON
Cryptocurrency Payment
Solution

CRYSIGN
Document Signing and
Verification

CRYPTIK
Post Trade Clearing and
Settlement

CRYTRAN
Fund Transfer Over
Blockchain
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Get the best rate for cross border, cross currency payments
Can be developed as a full fledged payment routing engine integrated
with Enterprise Payment Hub

Enables an acquirer to facilitate its merchant to

accept Bitcoin based payments for their services.

Enables Merchants to accept bitcoin as a mode of payment at Online and

In-store Apps
Real time settlement of transactions based on merchant preference

Enables multiple parties to digitally sign a

document and verify the authenticity of the
document at a later point in time leveraging
Blockchain

Utility solution, can be leveraged wherever digital documents need to be

issued once and verified by multiple parties.
Possible applicability includes SOW/Contracts, Wills/Trust documents etc.

Decentralized Platform to maintain Counterparty

holdings and enable transfer

CRYPTOBUS
Integration Framework
with Multiple Blockchain
Frameworks

Applicability & Benefits

Blockchain agnostic layer for data recording on

Blockchain of choice

Blockchain based solution to facilitate fund

transfer between bank subsidiaries.

Distributed Ledger as the single source of truth for asset transfer and
positions.
Integrity of asset transfers managed by the blockchain.
Rule based routing engine accelerates legacy application integration with
Blockchain
Flexible architecture to onboard future blockchain solutions as well as
legacy solutions in a phased manner.
Decentralized fund transfer solution Leverage Smart Contracts.

Client Engagements
Client

POC Description

A Large
Multinational
Bank

An AML/ KYC friendly supervisor solution built leveraging a Multi Signature

Hierarchical Deterministic Bitcoin Wallet to enable bank to provide its customers
a way to transfer bitcoins only to other HD wallets that the bank has created with
supervision from their AML/Sanction staff who act as signers for transactions

Blockchain Technology

POC Status

Haskcoin HD Wallet Service

Phase 1 Delivered,
Phase 2 Underway

A Blockchain based solution to manage/maintain verified/signed copy of NDA &

SOW in tamper proof way

Custom colored coin

protocol implementation on
- Bitcoin Blockchain

Delivered

A Decentralized Application to facilitate intra bank GL Postings within bank

subsidiaries.

Ethereum, Factom

Delivered

A Decentralized Application to issue and transfer digital assets (e.g. Title Deeds)
with multi signer capabilities.

Ethereum

POC Underway

A Large
European Bank

Integration Solution enabling Legacy Systems to put to and get data from various
Distributed Ledger Platform as well as leverage Smart Contract for entity lifecycle
management

Ethereum, Eris Industries,

IPFS

Delivered

A Large Japanese
Bank

A Blockchain based solution to manage the Global Commitment Line and

Customer Information sharing between various Subsidiaries

Ethereum/BlockApps, IPS
(indicative)

To be Started

A Large bank
based in US

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Shortlisted Accelerators in Pipeline

Enabler

POC Description

CRYDENTIAL
Decentralized Identity

Companies take time and effort for KYC before they create an account for their customers.
Leverage the KYC performed by the companies to provide document to customers that can be
leveraged as a proof of identity for them.

CRYPTOGRAM
Simplify Participation Deal
using Blockchain

Simplify Participation Deal management process in Trade Finance leveraging Blockchain

CRYDIT
Delinquency Prevention
over Blockchain

A decentralized ledger for Credit Card issuing companies to keep a check on the customers
Actual Credit Capacity and notifies in case his actual credit capacity is reached

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Blockchain based Solution Adoption - Typical Roadmap

Proof Of Concept
Phase 1

Create MVP specs - to-be state

Develop Business Case for end to end

Product Development and Rollout

Phase 3

Prioritization of features and closure

process flow /user journey , use cases

product positioning, solution development

on the global plan and

Develop a solution for each of the

and Rollout

implementation approach for end to

Perform Impact Analysis for Upstream and

end solution.

selected user journeys

Business Case Development

Phase 2

Test the solution and deliver the

downstream systems due to introduction of

operational manual for further

Distributed Ledger, touch points with

validation of the use cases

enterprises existing eco-system

Development, Integration and testing

of the prioritized scope.

Rollout.

High Level ROI calculation and road map

finalization

"The market is largely at the POC (proof of concept) phase, proving that Blockchain-based implementations can replicate or
complement existing infrastructure," says the firm. "2016 marks a race to production as innovators seek to push beyond the
prototype stage.
Source - http://www.finextra.com/news/fullstory.aspx?newsitemid=28248&utm_medium=NewsFlash&utm_source=2015-12-14
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Cognizant Collaboratory
We think big asking ourselves: What solutions will deliver the most value for the customer and
business. This managed process then links innovation opportunities to value-add solutions.
Gain insights from multiple vectors

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Industry Analysis
Understand where
the market is headed;
what potential
barriers exist and key
areas to differentiate.

Technology Assessment
Establishes a foundation
on emerging and existing
technology to utilize to
gain advantages and
development of best in
class experiences.

Design Research
Frames the user
behaviors, wants and
unmet needs that will
impact engagement
and perceptions.

Business Analysis
Assesses client readiness
for innovation; outlining
key areas of focus for near
term, medium term, and
long term impact.

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Ideate & Frame

Generate ideas relevant

to specific business
processes or service
solutions
Curate ideas informed by
our tools and processes

Prioritize

Prioritize based on
business value,
reach, technology
feasibility, and user
engagement.

Spark

Ideation
Gain insights from multiple vectors

WE IDEATE:
Just as Telecom operators adopted the internet and offered it
as a service to generate a separate revenue stream, could
customer have a similar opportunity to offer Blockchain as an
internet of value of exchange and help create a market for
liquidizing stale assets (i.e. wifi, personal storage and other
services) ?

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Ideate & Frame

Prioritize

Spark

Prioritization and Spark

Gain insights from multiple vectors

Ideate & Frame

Prioritize

Spark

The Idea Lab culminates with a Spark Workshop where the process starts moving from theory to
practice. We focus in on the specific opportunities for transformative product & service offerings.
Gather inputs:
Ideas from repository
Target audience insights
Business strategy, competitor analysis,
white space assessment
Initial opportunity prioritization
Draft opportunity briefs
Workshop materials: Market Scan,
Rank Your Ideas, You Are Here! (on the
Crossroads)

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Identify targets:
Map out the core business
opportunities for acceleration
Identify and prioritize specific services
and processes ripe for digital
transformation with a focus on value
realization

Outputs:
Completed prioritized focus areas for
digitization
Initial plan for next phase in
Collaboratory: ideation and
prototyping

Engagement Model for Client and Cognizant to work Together

Join our Digital Works Program (Ideation lab Collaboratory Foundry) for building further use cases

Get access to our research and platform solutions for accelerating the expirementation on different blockchains

Get access to our pilot client test bed for validating the use cases and establishing go-to-market

Deliverables from our program

Use cases

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MVP Specs

Prototype

Business Case

GTM

Thank You !
Blockchain Agency
BlockchainCoreGroup@cognizant.com

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Appendix-I Cognizants Blockchain Accelerators - Detailed

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Value Proposition 1: Payment Router - Multiple Blockchains

</CRYSP_>
Crypto-currency Payment
Router

Decision engine for

choosing the best path to
send payments over
Blockchain
CRYSP router with prebuilt
adaptor for various blockchains

Problem

Solution

Customers pay nearly 6% on cross border

payments with T+3 days for the funds to be
available when transferred

Leverage blockchains for routing and

setlling payments in real time at lower
cost

Features

Benefits

- Adapter for various blockchains

- Decision engine to give the best rate
- Active and Passive mode for the router

- Get the best rate for payments

- Real time settlement
- Achieve immediate scalability

Current Status
- Ready to be showcased to clients

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Value Proposition 2: Cryptocurrency acceptance platform

</CRYMSON_>
Cryptocurrency merchant
solution

Allow your clients to

accept and process any
cryptocurrency
Merchant acceptance solution

Opportunity

Solution

Today only 2% of merchants in the Electronic

Transaction Association accept Bitcoins, while
23% plan to begin within next two years

Crypto currency acceptance solutions for

merchants

Features

Benefits

- Simple integration for online and instore

apps with crypto currencies platforms
- Clears and Settles transactions on
blockchain
- Integrate loyalty and gift cards on crypto
currency

Real time settlement for merchants

Zero transaction fee
No volatility risk
Extensible to IOT infrastructure

Current Status
-

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The solution with Bitcoin payment enabled for online e-commerce platform is ready to be
showcased to clients

Value Proposition 3: Document Signing and Records management

</CRYSIGN_>
Identity over Blockchains

Blockchain verification of
signed documents and
management of latest
versions

Problem

Solution

Companies have difficulty in ensuring that

the most recent version of the document is
executed against and also have difficulty in
verifying the authenticity of the documents

Decentralized document verification

Features

Benefits

- Companies can add trusted document

verification third party
- Users can get their document signed by
these authorized verification parties and
load the hash in the block chain
- Companies can then access these verified
documents by confirming their existence
on the blockchain

- Easy sharing of verified documents with

third party requestors
- Reduced time for on-boarding of users
- Guaranteed processing of the latest
version of the documents
- Reduced time for getting multi party
verification

Current Status
- Ready to be showcased

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Value Proposition 4: Securities Trade Settlement on Blockchain

</CRYPTIK_>
Crypto Asset Trading
Platform

Issuance and trading

platform for smart
securities on Blockchain
technology

Problem

Solution

Securities clearing & settlment is a

convoluted process which mandatorly has
T+3 busines days for securites & payments to
change hands

Decentralized Trading platform on

blockchain

Features

Benefits

- Maintaining Counterparty holding on DLP

- Securities clearing and settlement
- Register / deregister securities in the
register
- Bind the buying & selling parties with
smart contracts and trigger settlekemt
from the distributed ledger.

- Real time exchange of ownership of

assets
- Integrity of the exchanges maintained
by cyrpto technologies
- Reduced audit cost
- Cross border investments

Current Status
- Ethereum based soltion to hold Counterpary Holding on DLP and ability to transfer holding
is available for demonstration

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Value Proposition 5: Integration Layer for Blockchain

</CRYPTOBUS_>
Integration Layer for
Blockchain

A Restful integration layer

built on top of Blockchain
Framework

CRYPTOBUS

Problem

Solution

Multiple Blockchain frameworks are

emerging in the market today. Legacy
systems need a consistent way to integrate
with a blockchain of choice.

An integration Layer on top of the

Blockchain framework abstracts the
inner working of the blockchain from the
legacy systems.

Features

Benefits

- Abstracts blockchain solution complexity

from the legacy systems.
- RESTful API integration.
- Rule based decision engine to push
information to the blockchain of choice.
- Onboard new blockchain frameworks
through an adapter based implementation.

- Faster integration with blockchain

frameworks
- Makes Legacy system integration
blockchain agonostic.
- Reduced integration cost

Current Status
- Ethereum, Eris Industries and IPFS have been integrated. Other Blockchain frameworks e.g.
Factom are slated for Phase 2.

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Value Proposition 6: Fund Transfer Leveraging Smart Contracts

</CRYTRAN_>
Fund Transfer over
Blockchain

Simple Transaction
Reconciliation between
Bank Subsidiaries

Problem

Solution

Transaction between bank and its

subsidiaries require each subsidiary to have a
reconciliation engine, thus leading to
duplication of effort as no single source of
truth exist

A decentralized solution providing a

single source of truth for transaction
data. Reconciliation logic can be
executed in a decentralized fashion as a
Smart Contract.

Features

Benefits

- Ability to onboard subsidiaries and their

Accounts.
- Transactions uploaded by each
subsidiary(Buy/Sell) is matched with
counterparty transactions leveraging a
smart contract.
- Reconciled transactions are posted on a
blockchain to create a single source of
truth.

- Decentralized Reconciliation Logic

- Single source of settled transactions
created on a decentralized ledger.

Current Status
- POC Developed.

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Value Proposition 7: Digital Identity on Blockchains

</CRYDENTIAL_>
Digital Identity on
Blockchains

Digital Identity solution on

Blockchain

Problem

Solution

Companies spend time and effort for KYC

before they create an account for their
customers. This information can be leveraged
to provide an identity card for the customers
that can potentially be used by customers to
prove their identity to other trusting parties

Decentralized identity management

solution

Features

Benefits

- Bank KYC portal to generate an identity

card and store the digital identify of the
customer on blockchain.
- Customer can leverage the identity card to
prove her/his identity to other trusting
parties in the consortium.

- Secure storage of identity

- Easy portability and sharing of identity
across consortium entities
- Reduced time in KYC for companies

Current Status
- Product Under Development
- Could be of interest to any client looking at simplifying onboarding of customers

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Value Proposition 8 : Participation Deal solution

</CRYPTOGRAM_>
Trade Financing solution
Simplify Participation deals
using Blockchain

Opportunity

Solution

Participation Deals maintained on

Distributed Ledger , enabling easy sharing
of info between Participating Banks as
well as increased transparency, streamline
process and enable real-time updates

Leverage Blockchain to manage

Participation deal lifecycle.

Features

Benefits

- Participation Deals are created in the

Block Chain Banks can issue
- Drawdown and rollover events are
updated by Lead Participating bank in
block chain.
- Real-time updates of Risk for
Participating Bank

- Easy consensus process to update

Participation deals
- Single Place to track all the underlying
deals under Participation deal
- All events (amendment/ cancellation) in
individual deal will be visible to all
participating bank

Current Status
- In concept stage

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Value Proposition 9: Delinquency Prevention leveraging Blockchain

</CRYDIT_>
Delenquency Prevention
Solution

Enable banks to form a

consortium to track
customers actual credit
capacity

Problem

Solution

Banks provides credit card limit to

customers depending upon their credit
worthiness.
Customers can have multiple cards, thus
increasing their overall debt taking ability
without having the overall credit
worthiness

Consortium of Banks publishing credit limits

and card utilization on a blockchain and
trigger of notification if outstanding balance
above threshold.

Features

Benefits

- Adjust Customer Credit Capacity based

on card limits
- Reporting of card utilization information
to a distributed ledger.
- Automatic generation of notifications if
utilization execeeds customers credit
capacity.

- Real time updates of customers total

outstanding balance across cards
- Reduces the risk exposure of banks due
to delenquency of customers.

Current Status
- In concept stage
- Could be interest to any bank consortium
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Appendix-II FIs Increasing Focus on Blockchain

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Financial Services firms see huge disruptive potential in Blockchain technology

FIs and banks are increasingly focusing on the blockchain technology

94%

Believes that blockchain will create

disruption in financial market

17%

Financial Institutions are implementing

some applications for blockchain

47%

Reviewing uses of blockchain technology

for adoption

56%

Familiar with the Blockchain startups

and looking keenly into it

Payments top the list in disruption, followed by derivatives

84%

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Want to use blockchain for reducing

settlement risks and settlement time

62%

Believe that blockchain can be used in

OTC derivatives, apart from payments

Source: Greenwich Associates 2015 study based on 58 financial respondents in America, Europe and Asia.

Banks and Financial Institutions are showing keen interest towards investing,
innovating and partnering for Blockchain technology (1/4)
ANZ Teamed up with venture technology accelerator BlueChilli offering a $40K prize to the start-up that creates the most useful
and disruptive business idea for the bank's SME and commercial real estate customers.
The bank Partnered with Ripple Labs to incorporate the Blockchain platform in its system to track customer payments.

Barclays launched a startup accelerator programme called Barclays Accelerator dedicated to Blockchain startups. By
incubating Safello, Atlas Card, and Blocktraces, the bank want to explore use-cases of the Blockchain technology.
The bank entered into a Proof-of-Concept (PoC) agreement with Safello to co-create a Bitcoin platform.
BBVA made investment in Coinbases $75 mn funding round.
The banks has selected 9 crypto startups in its Open Talent competition to explore Blockchain applications in field of payments
and trading. Leading names are Bitnexo Bitso, Volabit, Bitwage, Snapcard, Safello.

BNP Paribas conducted internal trials for the application of Blockchain in custody services, fund administration and transfer
agency.

BNY Mellon is using Blockchain technology to build an application to shift its internal client-server architecture to P2P model.
It also launched its own BK Coins, which is used internally as an incentive programme for employees.

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Source: Public web sources

They have realized the importance of Blockchain as a disruptor across different

banking segments (2/4)
Citi teamed up with venture technology accelerator BlueChilli offering a $40K prize to the start-up that creates the most useful
and disruptive business idea for the bank's SME and commercial real estate customers
The bank has developed three Blockchains running in its internal systems and developed its own Citicoin. It is exploring the
potential in
the field of cross border payments
Commonwealth Bank of Australia is trying to implement the Ripple platform to settle international payments quickly.

DBS bank hosted a Blockchain hackathon in May 2015. Through the hackathon, the bank wanted to find use-cases of the
Blockchain technology that could help the unbanked and could optimize current banking systems.

Deutsche Bank has been exploring the Blockchain in enforcement and clearing of derivatives contracts, know-your-customer,
anti-money laundering registries and surveillance, and securities asset servicing through its new innovation labs in London, Berlin
and Silicon Valley.
Fidor is the first major bank to experiment with virtual currency and Blockchain.
The bank partnered with Karken to provide digital currency exchange in EU and with bitcoin Deutschland GmbH in Germany. It
has also partnered with Ripple Labs to use its payment protocol to provide customers money transfer services in multiple
currencies and with bitcoin.de, a P2P bitcoin trading platform.

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Source: Public web sources

Payments innovation leads the way with focus on cross-border payments

followed by Distributed Ledger for Capital Markets (3/4)
Goldman Sachs is co-leading a nearly $50 Million investment in Bitcoin payments startup Circle Internet Financial as part of its
effort to buy stakes in young fintech companies.
The bank has also been keen on searching for applications of the Blockchain technology that could transform trading, which
could be used in the stock market.

Expressed that they are working on a new project with Blockchain technology.
Developed Cuber Wallet, an app based on Colored Coins Blockchain technology.
Partnered with Coinbase and CoinFloor.
While many other banks are looking into different Blockchains or even thinking of building their own, LHV bank is utilizing
existing reliable components of the Bitcoin Blockchain.

Rabobank is testing Blockchain technology, including bitcoin and is also experimenting with the Ripple payments network.
Santander Bank has found over 25 possible use-cases of the Blockchain that could be implemented to traditional banking
systems.
Santander has also co-authored report in which they discovered that the integration of the Blockchain technology could
eliminate up to $20 Billion of banking costs.
The bank has come up with Santander InnoVentures, which is a $100 Million fintech investment fund.
Socit Gnrale posted a job listing on 2nd July for an "IT developer on bitcoin, Blockchains and cryptocurrencies". According
to the advertisement, the role would entail research and development involving both cryptocurrencies and Blockchain.

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Source: Public web sources

Partnerships are key to innovation with many banks partnering Ripple Labs (4/4)
UBS has a research lab in London focused on Blockchain.
UBS CIO Oliver Bussmann also provides one-on-one mentoring to fintech startups based out of London in the areas of
Blockchain & social media analytics.
The investment bank is experimenting in the areas of payments, trading and settlement, and smart bonds.
USAA banking, insurance, and investment management subsidiaries hopes the "Blockchain" technology could help
decentralize its operations such as the back office.
The firm has created a large team researching the potential of the Blockchain. However, USAA is still in early stages of its
research and has yet to identify how it will implement the technology.
The firm has also invested $75 Million in Coinbase.
Westpac has also partnered with Ripple Labs to incorporate the Blockchain technology into its systems. Westpac has integrated
the Ripple protocol to track down transactions & settlements and for understanding customer behavior.

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Source: Public web sources