E-Governance Category Winner of International Blockchain Olympiad 2021

1. Team Rocket
A one-stop solution of all compliance and regulatory activities for businesses

2. Meet Brown Girls Closet,
an online business found during the Covid-19 which has
found significant success over the past 1 year. Now that
the things are starting to open again, the owners want to
formalize their business so that they can get a small loan
from a bank.
To do so what they’ll need to do is:
- get a trade license
- get registered in RJSC
- get registered for VAT (BIN)

3. Business Environment of Bangladesh
Applicant RJSC NBR City Corporation Bank Other Third Party
Name Clearance Certificate
Forms & Supporting Papers
Starting a
Business
&
Renewing
License/
Updating
Information
Payment
Registration Certificate
Company Seal
Application for e-TIN
Open a Bank Account
Receive Clearance from Ward Commissioner
Receive e-TIN number
Application for Trade License
Physical Inspection, followed by Trade License
Application for VAT Registration
Physical Inspection, followed by BIN
Application & Supporting Papers
Getting
Bank Loans
Mortgage Charge
Payment
Repayment
Mortgage Satisfaction
Assessment of Financial Information & Credit History

4. Meet Eastern Bank Limited,
one of the largest banks in Bangladesh. The bank wants
to grow its business and give more loans to businesses
to expand its portfolio.
To do so what they seek is:
- reliable information about the business
- reliable information about the owners
- credit history of the business & owners

5. Business Environment of Bangladesh
Required Time Incurred Cost
No. of
Stakeholders
Global Position
Starting a Business 19 days 12,670 5 131
Tax Payments 435 hours - 3 151
Bank Loans - - 2 119
Economy
Ease of
Doing
Business
Starting a
Business
Getting
Credit
Protecting
Minority
Investors
Paying
Taxes
China 31 27 80 28 105
India 63 136 25 13 115
Vietnam 70 115 25 97 109
Sri Lanka 99 85 132 28 142
Pakistan 108 72 119 28 161
Bangladesh 168 131 119 72 151
Source: Ease of Doing Business 2020, World Bank
Source: Ease of Doing Business 2020, World Bank
FDI to GDP Rate
0.5%
Size of Informal Economy
99.8%
Non-Performing Loans
96,117crore
Revenue Lost to Mis-Invoicing
639billion

6. Issues in the Current System
Businesses & Investors Government
Inconvenient
Compliance & regulatory activities
are lengthy, expensive, and
complicated. This reduces the
interest of the businessmen to
properly comply with regulations.
Fragmented & Redundant
Due to having multiple authorities
with no direct sharing of
information, the processes become
fragmented. This makes the
information vulnerable and doing
business harder in Bangladesh.
Lack of Trust
Due to the vulnerability and
antiquatedness of the system,
there is severe mistrust in the
system. This leads to redundant
verification processes, mis
invoicing, high NPL and fraud.
Financial Institutions

7. Problem Statement
Businesses in Bangladesh face a fragmented, inconvenient, and
distrusted process for executing compliance and regulatory activities.

8. A one-stop solution of all compliance and regulatory
activities for businesses

9. Our Solution
One Stop Service
Simple Payment
Solution
Verified and
Protected Records
Different Nodes,
Different Accessibility
One Server,
Multiple Nodes
TLS Channel
User Companies
Fin. Institutions
Certificate
Authority
NBR
RJSC CC
Committer (RJSC, NBR, CC, BIDA)
User Interface
Blockchain
Company
email id
Start

10. Provide NID, email,
username, phone
number, etc. to open
an account
STEP 1
BIDA will provide MSP
as certificate authority
under Fabric for
identity mgt.
STEP 2
Company generates a one-time
view-only code and forwards it to
the institution
STEP 4
Institution inputs the code and
provides an email to access the
files
STEP 5
Request company to access
necessary information
STEP 3
Select services and provide
necessary information and
supporting documents
STEP 3
Confirm provided information and
complete payments through
gateway or bank
STEP 4
Under Fabric, an authentic com.
channel is created using TLS
between user and endorser nodes*
STEP 5
Finally, the committer** stores the
selected info in Blockchain and
sends a read-only version to user
STEP 8
After verification, the information is
stored in endorser’s databases and
proceeds for ordering
STEP 7
Verification is done through multiple
stages by endorser. If any issues
arise, a message is sent to the user
STEP 6
User receives a seamless
service
A secure and
permissioned DB created
Institutions receive verified
trusted information
User Companies
Fin. Institutions
*Endorser Nodes: RJSC, NBR, CC
**Committer Nodes: BIDA, RJSC, NBR, CC

11. Why Use Blockchain
Building Trust
Decentralization
DigiDesk will eliminate the necessity of any intermediary
through a decentralized and permissioned platform. Data
will be protected from all external risk factors as well.
Fault Tolerance
Data is distributed among nodes, as a result even if
some problems arise, data will be foolproof.
Immutability
There are no options of tampering data by any party, as
a result institutions can access reliable verified data. This
will reduce NPLs and bad debt.
Streamlined Process
Cost Reduction
Financial institutions can bring down the cost of
approving/rejecting a loan by as much as 35%. Business
can bring down compliance costs by as much as 30%.
Better Coordination
Tasks which were carried out sequentially will now be
completed simultaneously due to better coordination.
Reduced Redundancy
Time required to register a company will come down to 5
day from 20 days due to information sharing among
parties in a permission blockchain.

12. Customer Segments and Market Size
~180,000
• Renew trade license
• Update company information
• Update credit & financial records
Registered Enterprises
155 financial institutions &
~1,250 investors
• Obtain verified financial records &
credit history upon permission
• Access verified public info
Financial Institutions &
Investors
~7000 each year
New Enterprises
• Obtain registration certificate, e-
TIN, BIN, trade license
• Pay all business registration fees

13. Partners
Owners of the System
DigiDesk, RJSC, NBR, City Corporation
• Maintain individual databases
• Verify and endorse documentation for related
specific service:
a) RJSC: Incorporation Certificate, annual returns
b) NBR: eTIN, BIN, audited company statements
c) CC: Trade license and yearly renewal of license
Strategic
Partners
Bangladesh Bank, Banks, A2i, ICT Division, FBCCI
• Provide infrastructure development, integration,
and training support
• Assist with policy making and promotional support
• Collaborate with strategic partners
• Act as payment service providers and oversee
financial regulations
Support
Partners

14. Competition
Tax Consultants
RJSC Intermediaries
CC Intermediaries
Documentation
Intermediaries
RJSC Website
CC Website
BIDA OSS
RJSC Office
NBR Office
CC Office
Company End
Current System
• Multiple intermediaries
• Online-offline mixed method
• No integrated system
Company DigiDesk End
Under DigiDesk
• No direct or indirect competition
• BIDA owned solution
• No intermediaries or third-party
services

15. Governance - Privacy
RJSC
NBR
City Corporation
DigiDesk
Database
RJSC
Database
NBR
Database
CC
Database
Blockchain
User Interface
User
Usage Data
Trade License
CoI, Sch-X, Form Certificates
P&L, Balance Sheet
Supporting docs
and filings
Supporting docs
and filings
Supporting docs
and filings
User
RJSC NBR CC
Database Component
On-Chain – Certificates, Verified
Financial Statements, Licenses
Off-Chain – Usage Data, Supporting
Documents & Filings
Information Exchange
TLS channels for endorser-to-
endorser and client-to-endorser
communication
Cryptography & Authentication
NO cryptography will be used since
private blockchain is used, firebase
authentication will be used as
authentication component

17. Governance – Trust & Security
Identity Management
MSP will be used to
distinguish users
Access Control
• Users can access read-only
versions of data
• Endorsers can access as per
their requirements
• Institutions can access upon
user permission
Permissioned Blockchain
Identity Link-ability
• Public certificate to be issued during MSP
Framework
• BIDA will own the system,
• only government entities will endorse following a partnership structure
Governance
• BIDA will coordinate with all partners,
• a central body of representatives chaired by BIDA will be created,
• support partners will help in policy making,
• BPR will be done in line with the existing laws of Bangladesh
Resource Container
Chaincode Component
UI Component Front-end Library
Network Configuration Setting up Kubernetes Cluster Create Identities & MSP using CA Deploy the network

18. Risks & Mitigation
* validator rules will be such that other transactions be consulted before the final resolution of information validity)
Digitalizing records of existing businesses
Fragmented, inconsistent records of existing
business
Lack of cooperation from partners
Lack of tech savviness and adaptability
Speed, scalability, and interface with legacy
systems in implementing the technology
Misuse of authentication
Audit and changes in data
Infrastructural issues in rural areas
• Creation of a central body with representatives from all
bodies
• Advocacy and integration
• Training and development programs
• Training and development programs
• Utilizing local IT training intermediaries
• Improvement of existing IT infrastructure and Business
Process Reengineering
• Use of a biometric system
• Use of ‘meta-protocol revocation’ *
• Training and development programs
• Collaboration with national programs under Digital
Bangladesh Agenda
Implementation
Technical
Operational
Risk Factors Mitigation Strategies

19. Distribution
1. Form a central special body
2. Set up private server for DigiDesk.
3. Digitalize and integrate records
4. Create and update IT infrastructure
for workflow
1. Develop prototype
2. Create Identity and Access
Management.
3. Test the prototype
4. Mini verse run
5. Training and development sessions
1. Include all digital records
2. Test the beta version
1. Support and maintenance team
24/7
2. Monitor and evaluate
3. Explore options to scale DigiDesk
Initiation Phase Testing Phase Beta Phase Final Phase
Month 14 Month 32 Month 40
Month 0

20. Financials
*All figures are in BDT
41%
14%
4%
22%
14%
5%
Cost Structure
Salary
Rent
Utility
Training & Development
Marketing
R&D
Proposed Revenue Structure
Revenue Stream Offering Rate/Year Market Size Revenue % of Total
Subscription Fees
Corporate Partners Accessing verified and updated
information for loans and
insurances
500,000 62 31,000,000 47.51%
Institutional Investors Accessing verified and updated
public information of companies
25,000 250 6,250,000 9.58%
Service Charge
Registration of CompaniesRegistering the business and
entering the one stop solution for
all services
1,000 10,000 10,000,000 15.33%
Other Services Applying for required trade
license, eTIN, BIN services from
the same platform
100 180,000 18,000,000 27.59%
Total 65,250,000

21. Valuation
76,860,000BDT 7.5YEARS 34,019,613BDT 15.65 %
Required Investment Pay Back Period NPV IRR

22. Social Value
Lower agency costs
Higher collaboration among gov.
bodies
Safer, verified, and immutable
company and financial records
Easier, cheaper, and faster to formalize
a business
Lower cost to verify a credit for financial
institutions
Improvement in the Ease of Doing
Business Index by World Bank
Achievement of the SDG goals 8,9 and
16 by the United Nations

23. Conclusion
Key Partners
• Key Partners (RJSC,
NBR, BB)
• Implementation
Support Partners
(Gov. Departments &
Agencies)
• Technical Partners
(ICT Division, a2i,
BPTAC)
Key Activities
• Platform Development
• Data Digitalization
• Integration
• Training &
Development
• Maintenance and R&D
Value Propositions
“A one-stop solution to all
enterprise and government
interactions.”
• One Stop Service
• One Server, Multiple Nodes
• Multiple Nodes, Multiple
Accessibility
• Simple Payment Solution
• Verified & Protected
Records
Customer
Relationships
• One Stop Service
• Trust & Transparency
• Protection of Data
• Access to Information
Customer Segments
• Already Registered
Enterprises
• New Enterprises
• Corporate Customers
and Investors
Key Resources
• Existing Data
• Technical &
Operational Team
• DigiDesk Platform
• Server & Infrastructure
Channels
• DigiDesk Website
• 24/7 Customer Care
Cost Structure
• Server Costs
• Blockchain Development Costs
• Data Digitalization Costs
• Operational Costs (Salary, Rent, Utility, Training & Development)
• R&D Costs
Revenue Streams
• Subscription Fees from Corporate Partners
• Subscription Fees from Investors
• Service Charges for New Registrations
• Service Charges for Tax Submissions
• Service Charges for Other Services

24. The End