FPT Software Strategy for Blockchain

FPT Software, with the capabilities of technology and domain knowledge in the Blockchain area, has proposed solutions that increase profitability and productivity of customer business. We have started working on Blockchain program externally and internally for many years to approach our clients. Currently, we provide the full services for Blockchain include:

For blockchain development, we offer full life-cycle project development, requirement analysis, application development, testing, and maintenance.

Not only the development service but had we also built up the product to leverage the power of blockchain. It’s is the decentralize loyalty management system, loyalty platform as Service. We call it Akaminds loyalty management platform.

FPT’s achievements in Blockchain

Understand the potential of the blockchain technology, we are building the blockchain resources, open the seminar for sharing the blockchain development experiences. FPT Software has won 2 projects will 7 resources for each with the big customer in airlines and financial audit from Singapore. Also, we have been established a partnership with SBI Ripple Asia, Factom to help enhance our capabilities and support presale.

Banking Financial Services

  • 35+ clients in Banking Financial Services and Insurance;
  • 1000+ headcounts in BFSI with global delivery models across US, Japan, Europe, APAC;
  • 20+ years of experience in banking and financial services.

Blockchain Resources

  • 20 experts working on Blockchain R&D., Da Nang: 5;
  • 60+ experienced engineers working on Blockchain project, Da Nang: 15;
  • More than 10 Blockchain development certificates and 2 Blockchain expert certificates.

Partnership

  • SBI Ripple Asia;
  • Factom.

Case Studies: KYC – Know your customer

The customer is an international network of member firms that offers audit, tax, and advisory services. They work closely with their clients to mitigate risks and grasp opportunities

Business need

As part of the effort to be a leading smart financial center, the development of a digital ID and KYC shared utility will assist the financial institutions and other relevant stakeholders to share and validate basic customer identity using the Distributed Ledger Technology (DLT) platform.

The digital ID and KYC supports 4 main user journeys:

  • Create the first record for a new client;
  • Retrieve details of an existing record;
  • Update an existing record;
  • Audit events related to a specific client.

To fulfill its vision, the platform will require a vigorous ecosystem with the possibility of future scalability across sectors and geographies by providing specialized service offerings and features intended to enhance and accelerate the KYC and customer onboarding through shared information

Solution

FPT is responsible for Blockchain platform deployment & UI development:

  • Design a system allowing financial institutions to store to a consortium ledger, and then retrieve KYC information upon the client’s consent.
  • Enforce secure all supporting documents of clients, store their hash values to the consortium ledger to prevent authorized updates.
  • Create a non-temperable audit trail of all read/write/access activities.

We propose the eKYC architect system, leverage the latest blockchain technology.

Frontend

  • Customized UI and digital platform to allow customers or users to access the eKYC system.

Backend

  • The internal systems that are required to perform the eKYC.

Document Encryption

  • Encrypt the customer documents (passport, Emirates ID, etc.) and stored them on Azure Blob Storage.

3rd party integration

  • Connects to other 3 rd parties and an external system to fetch data.
  • Exposes the APIs for other systems to read data from KYC.

Hyperledger Fabric Blockchain

  • The distributed ledger technology used to disrupt the eKYC process. Selected functionalities of the KYC process will be performed and stored on-chain.

KYC related document hash

  • Proof of the document to prevent anyone tamper or modify the document.

Certificate Authority

  • Issued and managed the permission of the participants in the blockchain.

Ordering Service

  • Verify the permission of the participants in blockchain networks.

IaaS/PaaS – Microsoft Azure

  • A consumption utility model of the computing infrastructure and platform provided by Microsoft.

Cyber Security

  • Security standards will be embedded into the architecture and design.

Understanding the interaction between technology components with information flow diagrams, Information flow diagrams allow for the understanding of interactions within the technology layer for key solution functionalities.

“What happens between the technology layers when I onboard a new customer?”

The eKYC system also exposes and consumes the API from the external system and 3rd party.

 

Benefit & Value

  • Bring about greater financial inclusion.
  • Address issues of de-risking.
  • Bridge the data gap for onboarding of SMEs.
  • Enable the FIs and other participating institution to benefit from increased efficiency.
  • Lower client onboarding costs.

Case Studies: LMS – Loyalty Management System

The customer is one of the world’s leading professional services firms, offering three basic service lines– tax, audit, and advisory for various industries.

Customer need

The scope of the project is to build a loyalty management system including the following three user stories:

  • On-boarding of new 3rd party.
  • Redemption from multiple 3rd party reward programs during client ticket booking process.
  • Automatic redemption at the time of sale at 3rd parties.

Solution

FPT is responsible for Blockchain platform deployment & development. The project is to develop a system allowing the member to use their air miles for daily purchases at retail establishments, hotels, petrol stations, and many other merchants.

The technical components involved in building the prototype are:

  • Ethereum Platform: To manage the client’s loyalty points in the distributed ledger.
  • Simulated Desktop Site: To simulate a simple airline booking site for redeeming Air Miles and Reward points conversion.
  • API Integration: To Integrate with the client’s loyalty management system (test environment). The client will provide the API connectors.

 

Component Technical Stack Description
Blockchain Ethereum

Private permission blockchain platform to support loyalty management solutions like accumulation, conversion, and redemption.

Develop the smart contract for the conversion of air miles and reward points in Solidity programming language.

Storage MySQL Off-chain data store which is required to store information such as users, roles, reference data, configuration parameter etc. typically required by the distributed application.
Back End Node.js, Express.js, web3.js Open source Node.js based SDK for interfacing with the smarts functionality.

Open source Node.js based technologies to develop integration APIs/REST for Integration, API ingestion to the client’s loyalty management solutions.

Frontend Angular.js User Interface which performs the conversion of loyalty points and redemptions of loyalty points.
Infra Azure Azure deployment topology to improve the scalability and resiliency. Ethereum blockchain nodes and network, API layer and Dapps will be hosted in a cloud environment.

Benefit & Value

  • Create a new avenue for members to spend their miles.
  • Help the airline reduce its inventory.
  • Information is not stored in one location but the decentralized Blockchain so every partner in the network receives the same set of information arising from a transaction.
  • Better security as even if the network fails, customer’s information and miles are still safe.
  • Blockchain technology makes all redemptions be immediately approved and updated in the system.

Do Trong Nguyen – FPT Software

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