Yian Han, Manager, Territory Business Development, AWS 客戶分享：Lorne Lantz, CTO 技術長, 寶島金融

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Yi-an Han
Manager, Territory Business Development
Lorne Lantz
CTO – Formosa Financial
AWS in Financial Services

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Agenda
• AWS in Financial Services
• FSI use case
• Compliance as code
• Blockchain
• Banking the blockchain industry

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Banking Use Case on AWS
Innovation
Transformation
Grid Computing
• Example: Risk modeling, capital stress testing
• Challenges: models take too long to run? Not enough compute resource?
Core Systems
• Example: Deposits, payments, account management, lending
• Challenges: How well do your systems support your customers?
Data Analytics
• Example: Storage, data lakes, data warehouse, visualization
• Challenges: 360 customer view.
AI and Machine Learning
• Example: Deep Learning, image process, chat bot
• Challenges: fraud detection. recommendations
Digital Channels
• Example: Automating, internet banking, data streaming
• Challenges: differentiate customer experience
FinTech Strategy
• Example: Blockchain, Compliance as a code
• Challenges: how to focus on innovation efforts?

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Use case
AI – Voice Interaction

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Use case
Compliance as a code

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Compliance-as-Code
Use Case 1
Compliance-as-Code for storing
customer data
• Changes tracked via AWS
CloudTrail
• AWS Config
• Data encrypted at rest using
KMS
• No public access to S3 buckets
• Principle of Least Privilege
enforced
Use Case 2
Compliance-as-Code for Internet Access
• Changes tracked via AWS CloudTrail
• AWS Config
• Data encrypted in transit using SSL
• Inbound access enforced via our
Content Delivery Network
• Running Amazon Machine Image
(AMI) up-to-date

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Benefits
S c a l e c o n s i s t e n t l y
t o a l l c u s t o m e r s
F o c u s t i m e a n d
r e s o u r c e s o n v a l u e
P a r t o f d a y - t o -
d a y

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Traditional Way
Analyze Define and
document
Checklist Audit

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Challenges
E x p e r t i s e i s n o t
g i v e n t o a l l
Ti m e - c o n s u m i n g
f o r e v e r y o n e
G e t - r e a d y - f o r - t h e -
a u d i t m i n d s e t

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Be Compliant-as-Code

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Checklist Codified Checklist
Audit Continuous Visibility

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Five Steps to Compliance with Code
Analyze Define and
document
Checklist Continuous VisibilityCodified
Checklist

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Six Steps to Compliance with Code
Analyze
Define and
document
Checklist
Continuous
visibility
Codified
checklist
Operate
and integrate

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Input/Output of Compliance-as-Code
Checklist
Continuous
visibility
Codified
checklist
Operate
and integrate
C o m p l i a n c e - a s - c o d e
Joe Sec Toby Dev Greg Ops Mike App Tim Audit

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Blockchain

18. TRUST

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BLOCKCHAIN DETAILED
Block 16
Transaction
Previous Block Hash:
57ec2fda71
Block Hash:
87ea2ffe94
TimeStamp
Block Hash:
57ec2fda71
Block 15
Transaction
Transaction
Previous Block Hash:
d68b2f0a3b
TimeStamp
Block 17
Previous Block Hash:
87ea2ffe94
Block Hash:
44bf2efe32
TimeStamp
Made up of a series of blocks added in chronological order
Pr
44
Bl
21
Ti
Transaction
Block = Page in a ledger Block contents = Items of the ledger

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“Blockchain” Can Mean A Lot of Things Today
Bitcoin – cryptocurrency, digital token, digital asset
Distributed Ledger Technology (DLT) – a shared, immutable ledger
that enables new models of trust between parties
Blockchain – a specific type of DLT, a database of transactions with a
consensus algorithm
Distributed Computing – applications that run on a network of
computers or devices
“Smart” Contracts – expressing legal or contractual obligations as
code, and enabling them to execute without manual intervention based
on an external data trigger

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Costs & Benefits of Blockchain
Attractive Cost Savings…
Accenture reports that blockchain could help banks cut “infrastructure costs” by $8 to 12 billion
per year by 2025
Santander analysis suggests DLT could reduce banks’ infrastructure costs for cross-border
payments, securities trading, and regulatory compliance by between $15 – 20 billion per year by
2022
…That Can Come With Large Costs
In a survey, over a third of banks stated that they have annual budgets in excess of $5M for
blockchain development, and another 15% have budgets greater than $2M
Extrapolated out, the entire banking sector can be expected to exceed $1B of spend on
“blockchain” in 2017
No data is available on implementation cost of a production-scale blockchain system (Blackrock
estimates $100M+)

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AWS In Blockchain
How We Help, How We Collaborate, and Whom We
Collaborate With

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AWS & Blockchain Protocols
AWS is blockchain protocol agnostic
Our focus is on building a diverse ecosystem of blockchain providers across all
protocols and use cases
We enable experimentation across all protocols
Blockchain builders across all protocols use our services to build robust solutions
including:
Amazon
EC2
Amazon ECS
AMIAmazon
VPC
Auto
Scaling
Amazon
S3
Amazon EBS AWS
CloudFormation
AWS
CloudTrail
Amazon
Route 53
AWS
CloudHSM
IAM
AWS WAF Amazon
Redshift

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How We Collaborate with Blockchain Ecosystems
Startup Enablement
• Access to the AWS Activate Program for Startups
• Benefits:
• Service Credits
• AWS Support
• Training
• AWS Startup Spotlight
Technical Expertise
• Access to AWS Solutions Architects to assist in building and deploying
blockchain applications on AWS
• Access to AWS Solutions Architects to support experiments and PoCs with
Enterprise companies
Credits to Support Enterprise Engagements
• Service credits to support qualified experiments and PoCs with Enterprises
on AWS

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Thank You!
Yi-an Han
LinkedIn:yianhan

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Lorne Lantz
CTO – Formosa Financial
Banking the blockchain industry
x

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Lorne
Lantz
- Involved in crypto when Bitcoin $4
- Tech reviewer for Mastering Bitcoin
- Educating corporations on Blockchain
- Built many blockchain projects
CTO-Formosa Financial
Speaker

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Parallel Financial World
Real World Blockchain World
Currencies USD / EUR / CNY BTC / ETH / XRP
Exchange
Currency
Foreign Exchange Brokers CryptoCurrency Exchanges
Fundraising Angel Investors / VCs ICO

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ICOs – A growing trend
Company Raised
Telegram $1.7 B
Civic $33 M
Formosa
Financial
$25 M

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Blockchain companies who did ICO
cannot get a bank account

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Problems

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ICOs – Storing funds
Regular Startup Blockchain Startup

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ICOs – Real world costs
Regular Startup Blockchain Startup
Pay from corporate account Pay from ETH?

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ICOs – Risk management
$10M USD today =
$10M USD tomorrow
$10M today =
$ ? tomorrow
Regular Startup Blockchain Startup

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Formosa Financial
Solutions

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ICOs – Storing funds
Regular Startup Blockchain
Startup
Formosa Financial

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ICOs – Real world costs
Regular Startup Blockchain Startup
Pay from corporate account Pay from ETH?
Formosa Financial
Pay from corporate
account digital asset
Formosa Financial
Debit Card
4000 1234 5678 9010

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ICOs – Risk management
$10M USD today =
$10M USD tomorrow
$10M today =
$ ? tomorrow
Regular Startup Blockchain Startup Formosa Financial
$10M today =
$10M+ tomorrow
(3K ETH, 50 BTC, $3M USD etc)

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Solution
Platform managing all their corporate financial needs!
USD
NTD
BTC
ETH
FMF
Debit Card
Trading
Services
$
Formosa
Financial
Fiat & Crypto
Wallet

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Move fast with secure & reliable
infrastructure
We need AWS to:

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Security
IAM –
The root of our security. Allows us to put walls around all of our
services and our engineers.
KMS –
Ensuring all sensitive information remains private from everyone
including our engineers. We shift our liabilities to AWS.
Cloud Formation –
Gives engineers a sandbox to experiment that matches exactly
our production environment

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Security
API Gateway –
A unified layer to the outside world. Allows us to
RDS –
Serverless MS SQL – easy to manage – Less chance of running
on Windows machine that isn’t up to date, and full of Malware

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Trading
EC2 –
Almost all crypto exchanges are on EC2. To improve trading
speed we use co-locating servers

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Compliance
We need to convince banks and governments to work with us
AWS compliance offerings are most extensive in industry.

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Formosa Financial Platform
Platform is planned out – We are hiring to help build it !
USD
NTD
BTC
ETH
FMF
Debit Card
Trading
Services
$
Formosa
Financial
Fiat & Crypto
Wallet

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Looking for BEST engineers
- Backend / Blockchain : c# .net , mssql, Solidity
- Frontend : JS, CSS, React, Redux
- Devops : AWS, Jenkins, Docker
- Security : OWASP, Mitigating ddos
- Trading Tech : Strong stats, data analysis, python, R
- QA : python, selenium, Postman
- Designer : Photoshop, CSS
- Don’t need blockchain experience – We will teach you
- Can learn fast
- Get stuff done

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Why work with us?
Above market salary
Our teams experience
Teach you everything about blockchain
Once in a lifetime opportunity to build the
bank for the blockchain world

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Thank you