►
Description
A joint meeting of the Hyperledger Trade Finance and Capital Market SIGs on March 24, 2021 about the Beauty of ISO 20022 with Dr. Mario Reichel and Anja Kamping of PPI AG.
More about the Trade Finance and Capital Market SIGs are at:
https://wiki.hyperledger.org/display/TFSIG/
https://wiki.hyperledger.org/display/CMSIG/
----
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A
B
B
B
B
These
are
the
only
two
rules
and
after
that,
after
this
little
short
administration,
then
I
introduce
mario
reichel
doctor
mario
rahel,
mario
anya
and
anya
camping,
both
from
ppi
mario,
is
a
managing
consultant.
I
think,
and
anya
is
senior
consultant
and
anya
is
focused
on
the
innovation
and
such
things
and
mario
is
an
old
hand
at
iso,
2000,
22
and
the
payments
infrastructure.
A
B
B
C
A
A
A
Then
I
will
present
you
a
basic
overview
of
iso
20
or
22,
and
anya
will
give
you
our
view
basic
overview
of
digital
currencies,
and
then
you
will
see
how
that
all
comes
together.
So
let
us
start
with
a
short
introduction
of
ppi
on
the
next
slide.
Ppi
was
founded
in
1984
in
hamburg,
and
now
we
have
offices
in
many
german
cities,
but
also
in
zurich,
milano
and
in
paris.
A
A
C
A
A
You
can
see
what
we
cover
in
payments,
that
is
on
one
side,
consultancy,
that's
where
anya
and
I
work
anya
is
in
that
next
generation
payments
unit
and
and
working
with
fancy
things
like
blockchain
and
cryptocurrencies.
She
will.
She
will
talk
about
later
on
and
I'm
working
in
those
cross-section
between
consultancy
and
products.
A
Our
traffic
suit
is
yeah
is
discovering
the
whole
value
chain
from
the
communication
that
was
our
beginning,
but
now
also
with
central
payment
processing
at
the
bank,
with
our
flagship
product
traffic
payment
hub,
especially
designed
for
iso
2022
data
layer,
insight
in
for
instant
payments,
we're
working
on
so
yeah.
That's
that's
enough
for
the
for
the
introduction.
A
A
A
A
A
Of
course,
there
was
an
an
organization
built
around
that
iso.
2020
iso,
as
you
may
know,
is
organized
in
different
technical
committees
for
financial
services.
The
so-called
technical
committee
68
is
managing
all
that
and
defined
the
iso
2022
yeah
build
the
registration
management
group
and
the
standard
evaluation
group
and
all
that
is
published
and
available.
A
A
A
It
is
talking
about
the
business
data,
dictionary
and
data
flows
and
coming
from
those
elements
defining
the
messages
that
are
then
consistent
for
the
different
different
use
cases.
On
the
next
slide.
We
have
a
short
overview
that
iso
2022
is,
of
course,
supported
by
swift
as
a
registered
registration
authority
and
the
service
provider,
providing
all
the
messages
on
on
that
website,
as
shown
by
now,
we
have
more
than
650
different
messages
in
many
different
areas.
A
We
will
come
in
in
a
minute
about
that.
Iso.
2022
is
a
single
standardization
approach,
a
methodology
used
by
financial
standards,
initiatives
and
central
financial
repository
of
data
elements
that
are
used
in
different
use
cases
in
different
yeah,
not
just
messages
in
the
it
is.
It
is
so
to
speak,
a
language
overall,
financial
businesses
and
swift
is
not
meant
mandating
a
migration.
A
A
The
the
larger
quantity
of
messages
message
formats
message
definition
is
a
so
called
mx
this.
This
abbreviation
mx
is
drawn
from
the
swift
mt
message,
type
abbreviation
where
we
in
payments
know
about
the
mt
103,
the
customer
payment
or
the
mt-202,
the
bank-to-bank
transfer
and
the
mt-940
statement.
A
And
swift
is,
for
example,
going
and
define
new
mx
messages
by
the
needs
of
different
communities
in
in
the
swift
world.
There
are
not
just
living
payment
messages
in
in
the
so-called
category,
one
mt,
one
xx
or
category
2
mt,
2
xx,
but
also
we
have
the
category
3
for
foreign
exchange
and
money
market
messages.
We
have
the
famous
trade
services
messages,
the
category
7
and
reporting
the
category
9
and
and
of
course,
the
securities
messages,
the
category
5
and
in
all
those
areas.
A
A
Let's
think
about
how
we
can
transport
financial
information,
but
in
an
in
an
harmonized
way
and
they
founded
the
initiative.
H,
p,
hvps,
plus
hvp
comes
from
high
value
payments,
and
in
that
initiative
you
have
market
infrastructures
like
the
european
central
bank,
with
their
t2
target
2
system,
you
have
eba
clearing
euro
1,
you
have
chaps
in
there.
A
The
the
usage
guideline
group,
it's
called
cbpr,
plus
and
cbpr
stands
for
cross-border
payment
and
reporting,
and
that
is
because
swift
is
going
to
discard
all
the
category
1
and
2
and
9
mt
messages
out
of
their
swift
network
in
an
phased
approach.
It
starts
with,
with
the
swift
release
november,
2022
and
november
2025.
A
We
then
have
all
over
the
world
iso
20
or
22
payment
messages,
maybe
some
exceptions
anyway
and
the
latest
harmonization
initiative
is,
is
called
iplus,
that's
a
instant
payment
or
also
called
real-time
payments,
and
they
look
how
to
use
that
beautiful
message
standard
to
leverage
in
the
in
the
real-time
payment
world
next
slide.
Please,
after
all
that
harmonization,
we
can
look
at
those.
A
We
got
that
additional
bubble
in
the
four
corner
model.
It's
called
clearing
and
settlement
mechanism
csm
and
there
it
was
kind
of
custom
that
such
a
clearing
settlement
mechanism
is
an
automatic
clearing
house
where
not
every
debtor
bank
and
creditor
bank
have
a
bilateral
relation,
but
they
are
all
more
or
less
direct
or
indirectly
connected
to
an
ach,
an
automatic
clearinghouse
and
yeah.
The
the
biggest
and
pan-european
one
is,
for
example,
step
two
by
eba.
A
Clearing
taking
care
of
the
reach
for
all
safer
payments
in
in
europe.
That
way
for
clearing
and
settlement
from
the
depth
of
bank
to
creditor
bank
in
an
global
international
view.
Is
a
bit
bigger
there?
You
still
have
your
correspondent
banking
relationships,
because
if
you
have
a
foreign
currency
payment
from
the
debtor
to
the
creditor,
then
you
don't
settle
that
such
a
payment
domestically
in
in
your
country.
A
So
therefore,
from
the
debtor
agent,
the
debtors
bank
in
the
country
of
the
of
the
debtor
usually
has
to
send
in
yeah
a
payment
message
to
their
correspondent
bank,
so-called
intermediary
bank,
in
the
country
of
the
currency,
and
they
would
hand
over
to
the
correspondent
bank
of
the
creditor
agent
via
an
rtgs
in
that
country
of
the
currency
and
yeah
transport,
the
money
and
the
information
towards
the
creditor
agent,
and
then
they
would
credit
the
creditor
and
right
now.
Many
of
those
errors
are
mt
messages,
mt-103
mt-202
940.
A
A
A
A
A
A
We
have
many
different
instruction
ideas,
a
so-called
end-to-end
reference.
We
have
the
famous
uetr,
the
unique
end-to-end
transaction
reference.
That's
a
reference
swift
introduced
with
their
dpi
initiative
2016
in
the
mt
world,
and,
as
I
mentioned,
this
functionality
is
moved
to
swift
iso
world
with
the
cbpr
plus
migration.
A
A
Then
you
certainly
have
a
hit
in
the
sanctuary
screening,
because
the
the
buzzword,
cuba
is
not
yeah,
is
some
somehow
suspicious
and
then
a
clerk
has
to
look
into
that
and
can
see
that
cuba
is
not
the
country
and
and
not
even
the
country
code,
but
it
is.
It
is
a
name
and
if
you
transport
information
in
granularity
like
like
this,
you
can
avoid
those
false
positive
hits
and
come
to
a
much
more
frictionless
payment
experience.
A
A
Commercial
invoices
and
credit
notes,
and
so
on,
as
we
can
see
here
in
that
example,
that
brings
a
level
of
richness
and,
on
the
other
side,
granularity
that
makes
that
format
machine
readable
from
from
end
to
end,
and
I
used
to
say
that
in
in
banking
business,
if
banks
talk
about
end
to
end,
they
usually
talk
about
account
to
account,
but
in
an
incorporate
in
a
b2b
world.
I
would
rather
see
end
to
end
as
erp
to
erp.
A
A
The
little
picture
on
the
right
hand,
side
is
not
not
to
be
read
it's
much
too
too,
too
small,
but
it
shows
the
xml
tree,
often
financial
message
by
the
standard.
Iso
2022
and
you
see
the
the
the
granularity
and
the
different
attacks
and
subtrees,
where
you
can
transport
information,
and
this
is
comparable
to
logistics,
inventing
the
container
and
not
to
transport
every
single
barrel
from
the
harbor
to
the
ship
or
or
vice
versa.
A
That
is
in
between
a
little
word
about
that.
The
the
clearing
is,
of
course,
only
the
the
sorting
of
different
payment
items
in
the
bulk
file:
packs
pax
8,
two
different
different
channels,
for
example,
in
an
automatic
clearing
house,
sorting
all
the
items
to
to
different
direct
respectively,
indirect
participant,
but
also
takes
care
about
settlement,
and
the
settlement
is
taken
either
in
central
bank
money.
A
C
A
Slippery
area,
at
least,
if
not
if
it
is
not
settled
in
central
bank
money,
you
have
commercial
bank
money
where
the
correspondent
bank
has
a
banking
relationship
and
an
account
servicing
institution,
and
then
the
money
is
settled
via
via
those
accounts
yeah
to
hurry
up
a
little
bit.
Let's
have
a
look
into
the
next
slide
and
look
into
the
next
slide
into
the
transport
of
information.
A
Now,
usually,
the
the
information
has
to
go
through
the
accounting
system
and
then
arrives
the
statement
and
at
the
very
end
it
arrives.
The
erp
system,
where
it
has
to
it,
has
to
go
to
and
yeah
in.
In
former
times
we
had
the
trade
services
or
trades
yeah
pictured
in
in
that
left-hand
side
and
now,
since
the
60s
since
the
container
was
invented,
we
have
a
revolution
in
logistics
seen
over
the
last
years
and
and
growing
and
speed
and
richness
that
we
could
have
in
yeah
in
payments
in
financial
messaging
with
it.
B
A
C
Yeah,
thank
you
very
much,
mario,
and
also
thank
you
for
the
invitation
and
for
having
the
chance
to
talk
in
this
hyperledger
event
here
tonight.
Just
a
short
introduction
of
myself.
My
name
is
anja
camping,
I'm
a
senior
consultant
at
ppe
since
2019
before
I
was
a
sap
consultant
in
the
banking
area
and
at
ppi
within
our
unit
consulting
payments.
I
am
concerned
with
innovation,
innovative
payment
topics,
especially
with
blockchain
crypto
and
digital
currencies.
C
We
have
put
the
main
focus
of
our
presentation
on
ic
iso,
2022
and
mario
mentioned
in
his
part
the
for
corner
model.
You
see
it
here
and
this
is
how
yeah
conventional
payments
are
working
with
intermediaries
and
corresponding
banking
and
all
the
different
stages.
And
now
we
switch
to
innovation
and
payments.
C
I
will
go
to
the
next
slide.
Yeah.
You
see
here,
cryptocurrencies
some,
how
enable
person
to
person
or
wallet
to
wallet
payments,
and
we
call
them
w2w
payments
and
yeah.
These
are
payments
without
having
involved
any
intermediaries,
such
as
banks
or
other
financial
institutions,
and
this
is
yeah
why
it
is
so
fascinating.
C
C
So
you
have
here
yeah
a
kind
of
historical
overview,
and
you
see
here
that
we
have
a
kind
of
four
phases.
Indeed,
bitcoin
marked
a
very
important
step,
but
the
idea
behind
bitcoin
is
not
new.
For
example,
david
chom
already
invented
a
kind
of
cryptocurrency
which
was
called
dg
cash
in
1989
and
digi
cash
transactions
had
the
future
of
being
anonymous
due
to
cryptographic
protocol,
and
this
was
invented
by
david,
trum
and
yeah.
C
C
Recently,
central
banks
worldwide
identified
their
intentions
yet
to
create
an
own
digital
form
of
money
which
is
called
a
central
bank,
digital
currency
or
just
shortly
cbdc,
and
in
my
opinion
this
is
mainly
due
to
the
announcement
of
the
dm
association
you
may
heard
of
it
and
yeah.
They
wanted
to
introduce
and
own
private
digital
currencies
which
would
be
available
to
everyone
worldwide
and
could
be
used
as
a
means
of
payments,
for
example
with
your
facebook
account
and
since
yes,
since
diem,
can
pose
a
risk
to
financial
stability.
C
C
C
So
you
have
digital
currencies
which
are
issued
by
the
private
sector.
This
is,
for
example,
number
one
or
number
two,
for
example,
number
one
we
have
public
cryptocurrencies,
which
yeah
kind
of,
for
example
like
bitcoin.
This
means
there
are
no
limitations
and
everybody
can
access
this
cryptocurrencies,
but
we
also
have-
and
this
is
a
point
two
in
this
diagram
we
have
cryptocurrencies-
which
which
are
permissioned
either
the
cryptocurrency
is
restricted
to
a
certain
group
or
to
have
an
access
to
this
currency.
C
You
have
to
provide
a
suitable
verification
of
your
identity
and
yeah.
It
is
very
important
to
make
the
difference
between
these
private
solutions
so
between
one
and
two
and
between
cbdc's,
which
are
point
three
four
and
five,
because
a
cbdc
would
be
a
digital
form
of
money
which
is
issued
by
central
banks,
not
the
private
sector,
so
cbdc
can
be
designed
in
different
different
ways.
For
example,
a
cbdc
can
be
accessible
to
everyone
for
consumers
as
well
for
corporates.
C
So
this
is
the
so-called
retail
or
general
purpose
cbdc
or
on
the
other
hand,
a
cbdc
can
be
designed
to
be
used
only
for
hostile
payments,
and
so
only
for
the
inter-bank
area,
so
the
excess
would
be
restricted
only
to
banks
and
financial
institutions,
and
this
is
the
so-called
jose
cbdc
and
yes,
and
we
also
have
another
yeah
difference,
breaks
or
difference
in
the
design.
For
example,
you
can
have
a
token
based
variant
of
a
cbdc
in
a
token-based
system.
The
cbdc
is
created
as
a
token
with
a
specific
denomination.
C
So
it
is
possible
to
have
a
cbdc
account
directly
at
the
central
bank,
so
me
and
you
as
normal
consumers,
can
have
a
cbdc
account
directly
at
the
central
bank,
or
this
is
another
way
you
can
have
a
cbdc
account
at
an
intermediary,
for
example,
at
your
house
bank
and
yeah.
This
was
just
a
short
glimpse
at
this
very
interesting
topic
of
digital
currencies
and
yeah.
B
Thank
you
annie.
That
was
very
clear
and
definitely
exhaustive
discussion.
I
mean
from
my
side
it
was
very
good
one.
I
appreciate
it
I'll
leave
it
on
to
the
attendance
to
make
questions,
gentlemen
and
also
another
reminder
that
we
have
to
relinquish
the
room
at
yes
in
a
very
few
minutes
in
four
minutes
yeah.
B
A
B
Andrea
and
mario
and
anya
it's
a
genuine
here
I
want
to
have.
I
want
to
share
my
suggestion.
I
was
actually
attending
yesterday
the
event
the
live
event
from
a
bank
international
settlement
where
they
were
illustrating
three
different
approach
for
providing
interoperability
by
by
cbdc,
in
which,
essentially
in
the
second,
the
second
approach,
where
essentially,
there
were
interlink
between
different
project.
B
A
B
A
Yeah
for
the
market
infrastructure
and
that
they
discussed
the
last
week
about
a
correspondent
banking
system
and
the
the
need
for
the
need
for
enhancements
because
of
all
the
problems
and
all
the
burden,
regulatory
burdens
of
kyc
and
so
on
some
areas.
Some
countries,
some
currency
corridors,
are
drying
up
on
correspondent
banking
relationships.
There
are
different
studies,
studies
on
that
and
now
central
banks
discussing
on
the
g20
level
about
what
could
be
done
about
that
and
it's
an
idea.
It's
called
ample
amplus
where
central
banks
help
in
that
area
by.