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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Featured Pathways

More pathways

Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Ready to get started?

Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

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Real World Use Cases of the IOTA Tangle

Real World Use Cases of the IOTA Tangle

Brian Marcel

35 years: Financial technology

In the final video on Brian's series about the Blockchain alternative, the Tangle, he explores some typical real-world uses for this alternative form of distributed ledger technology, including preventing counterfeit goods and improving the supply chain.

In the final video on Brian's series about the Blockchain alternative, the Tangle, he explores some typical real-world uses for this alternative form of distributed ledger technology, including preventing counterfeit goods and improving the supply chain.

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Real World Use Cases of the IOTA Tangle

11 mins 46 secs

Overview

The Tangle has a wide variety of applications that include solving the issue of counterfeit goods, uses in global trade finance, data management, logistics, supply chains and smart applications.

Key learning objectives:

  • Identify the applications of the Tangle

  • Understand how to decide whether the DLT is the right solution for you

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Summary

In what ways does the Tangle apply to ethical consumers?

Many consumers have become very attached to brands, especially if they’re ethical and have a great story. In fact, food and fashion provenance are getting traction as the consumer wants to make sure the goods are ethically produced, and in some applications they can read a story about the farmer or food producer. The Tangle provides the brand with a platform to create a mobile application easily accessed by the consumer who can scan a barcode on the product and see for example the following:
  • Name of Cow: Dolly
  • Name of Farm: South Kent Farm
  • Date Delivered to Outlet: 20/1/2021
  • Date Sold to Customer: 21/2/2021
  • Expiry Date: 24/2/2021

How does the Tangle deal with the issue of counterfeit goods?

The Tangle technology enables the ability to authenticate original products from counterfeits. For example, pharmaceuticals, automotive spare parts, fashion and perfume. Every transaction will have a unique trace on the Tangle, and this is how the system becomes trusted and so consumers will know that the product has to have been authenticated, and so counterfeit products will not appear on the Tangle.

What are the disadvantages of the traditional supply chain?

  • Emails, phone calls and paper documents are the daily details of moving goods
  • Information is delivered bilaterally and retyped into new systems with the introduction of errors and loss of data integrity and authenticity
  • Multiple data formats are used and are often not compatible with one another
  • Actors are unable to automatically broadcast/receive notification of events to relevant parties. This generates delay, inefficiencies and loss

How can the Tangle assist in improving the supply chain?

Tangle can assist in shortening the supply chain, creating efficiencies, reducing over payments and invoicing inaccuracies. The use of the Tangle as a data transport layer provides a single version of truth where everyone can update the status of consignment and everyone is accountable for updates, thus avoiding the multiple data silos within each actor.

What are the uses of the Tangle in global trade finance?

Today, the cost of capital in developing countries is very high and producers normally wait a minimum of 6-12 weeks before receiving payments. To bridge this gap, the producers take trade finance loans with banks that provide them interests based on the risk profile of the small producers. With the Tangle, the risk of getting paid can be transferred to the buyer and their cost of capital, which is much lower than the small producers.

We will likely see that authentication of various types of certificates will be one of the first wider aptin in global trade. Because the Tangle provides immutability and traceability back to the issuer of the certificates, these can be stored and trusted and accessed anywhere in the world via a smartphone.

What are the uses of the Tangle in data management?

  • Provides immutability and accountability
  • No centralised database - the technology allows for data producers to manage access privileges for who can see what. Thus, in a large ecosystem of users, there is no need to have a central database to collaborate. Hence, there is no risk of having one entity in the middle who can either manipulate or take advantage of data.
  • The protocol uses encryption and quantum-secure principles to ensure the highest level of security
  • The technology enables scalability as it caters for a high-volume of transactions in international trade
  • The transactions are relatively costless

What are some logistical applications of the Tangle?

Applicable to returnable containers used for example in transporting food to supermarkets that have to be identified and returned to suppliers which would otherwise get stolen, lost or returned damaged.

What are the ‘smart’ applications of the Tangle?

Smart mobility - Where a car, for example, can charge itself using a cryptocurrency token and pay directly for its electricity thus avoiding a third party. An example of this is the IOTA/Jaguar Land Rover initiative. There is also smart energy where you can choose who to buy your energy from based on who provides the most environmentally clean fuel.

How can you decide if a DLT solution is right for you?

  • Is there a need for a shared common database?
  • Are multiple parties involved?
  • Do the parties involved have conflicting incentives and/or mistrust each other?
  • Are there differences in the rulers that govern these parties?
  • Is there a need for an objective, unchangeable log of records?
  • Do the rules behind transactions rarely change?
If all the answers are ‘yes’, then a Blockchain solution rather than the Tangle is optimal.

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Brian Marcel

Brian Marcel

Brian is the founder and Chairman of the IBCS Group, market leaders throughout Central and Eastern Europe providing barcode, RFID, and blockchain enterprise solutions. He is also on the advisory board of the IOTA Foundation, an open feeless scalable DLT and a protocol for IoT and a member of the APPG (All Part Parliamentary Group) on Blockchain. Raise the Bar Change the Game is his first book.

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