Baseline Protocol The Baseline Show - Office Hours, 20 Apr 2022

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From YouTube: AmsterBased 2022 - Baseline Protocol @ EthDevConnect

Description

Welcome to our inaugural AmsterBased event, live from Amsterdam, Netherlands!

AmsterBased is a Baseline Protocol event as part of EFDevConnect.
Details on the protocol can be found at baseline-protocol.org.

Agenda -

Welcome from Baseline Protocol [03:40]
By: Samrat Kishor, TSC Co-Chair for the Baseline Protocol

Baseledger & TrustMesh: “Synchronising Music Streaming Reports” [11:20]
By: Stefan Schmidt, CTO of Unibright and Co-Founder at Musical Bits

The (BASE)ics: Baseline Architecture Simplified for Everyone [58:42]
By: Keith Salzman, Zero Knowledge Developer at ConsenSys Mesh

Juicy Web3 Stuff [01:58:24]
By: Anton Mozgovoy, Co-Founder at Mover

Decentralized Exchange of Tickets, Coupons and Invoices [02:49:28]
Combing the Power of Blockchains, Baselining and Enterprise ERP
By: Harry Behrens, Founder, Chairman and CTO at bloXmove

Live Stream of the Baseline Show: https://youtu.be/RhkphR2Fkm8

A

Good afternoon.

A

Hey welcome to amsterdays2022.

A

So many of you don't know me, my name is keith salzman, I'm a zk developer. I work at the consensus mesh also part of applied research and development for the baseline protocol. I'm going to be your host today, so for you here in person. Of course, you guys know that this is our baseline protocol community event for devconnect.

A

If you're listening in virtually- maybe that's the first time. You've heard this, but we have a lot of really interesting things lined up for you today, a lot of various topics, so I'm going to go over our schedule, really quick and then hand it off. So, of course, we have uh interesting talks from samrat.

A

Stefan, we have some juicy web 3 stuff, whatever that's about, I'm not sure from anton uh and then of course we have a presentation for blocks move, so we're going to have like a short break between each presentation and the presentations go from like 15 to 40 minutes right and then, of course, the last two hours of today we're going to have happy hour with drinks and the last hour of that from 6 to 7.

A

We are going to stream the baseline show of the week right, we're going to stream that, for you here, you can. You know either be present here just by listening or just log in virtually if you want to engage in the q, a chat so depending if you're logged in from either taikai or youtube, I believe on taikai you're going to have to move over to the youtube stream. If you want to be part of the chat there, all right and uh without further ado, I'm going to hand it over to samurai kishore.

A

He is our tse and a co-chair member or sorry co-chair of the tsc technical steering community for the baseline protocol. So everybody give them a hand.

B

Thank you. Thank you. Thank you. Thank you. Thank you. Okay, thanks guys uh beautiful holland day. uh Thank you all for making it to this event. It's a amazing day. Actually it turned out to be very, very interesting. uh Since we started off, um we were planning to have this venue, it's amazing so and kudos to all of you for making it today. Thank you. uh So I welcome you all on behalf of the baseline protocol.

B

It's um yeah it's it's very interesting to see people I mean I've been involved in the baseline protocol since the beginning. Almost the beginning, we were the new kids on the vlog in 2020 uh march of 2020 when we started off and today it turns out to be a huge community.

B

uh We have over 50 core devs just doing baseline stuff day in day out, and you see a couple of them right here, so so just find them in the in the breaks or after in the in the uh happy hours and definitely make sure that you're part of today's baseline show- and you may some of you may have seen me blabbering on the baseline- shows anyways right.

B

So so I'm not going to take much time today, I'm just going to set the things uh set, some things right for people who are new to the community. I welcome you all, um so we have yeah starting off big thanks to all our sponsors, uh really really. We couldn't make this possible without the sponsor. So thank you so much guys uh for making this possible. We have mesh, uh of course, our biggest sponsor john is from there and we have blocks move.

B

We have unibrite thanks thanks jack for for being around and then there's mover and taikai. So um thanks thanks. All of you. We have presentations from our sponsors as well. Today, uh lined up as keith just mentioned, um I'm just going to start off with baseline, what's baseline, so it started off as an open source community. In march of 2020 we have the founding members as eny consensus and microsoft.

B

um So I think we were standing on the shoulders of giants when we when we started off. I think that was something good. We had a good start, and now we have official sponsors who are 15 official sponsors, uh big names, you know, sap. Is there there's? This eea, of course, has been a strong believer. Accenture is there big names have have come in and this service now as well. I see them missing. Splunk is there and, of course, the amazing people from provide unibright uh the the up and coming uh communities.

B

So you see, all of these uh companies are building baseline day in day out, that's extremely extremely powerful for us, um so so yeah, I I you know. The only analogy I could come up with for for baseline was uh was the sliced bread analogy of of how how sliced bread came into being after ages of the of bread being existing? So in 1928 this gentleman called otto roberta.

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He came up with a machine to slice bread which was already available, so bread had been around for 30 thousand years, but he found a way of slicing it and hence giving rise to new commercial models like sandwich shops similar ways. What base lining is it's using zkp it is using base. It is using block chains which have been existing for a very long time. Now it's just putting it into a new pattern.

B

It's just a way of doing things differently, which is now called baseline, so I'm just comparing it to sliced bread, that's very cliche, but that's true, so um so yeah! That's with that. I have the diffusion of innovation curve. Now what happens with the diffusion of innovation? Any new thing which comes in there is always a strong community which believes in which who are the early adopters and there's a very strong community who still believes the earth is flat, so so they are the they are the laggards.

B

So where we are currently is the early majority, I would say that's my perception of things with baseline. uh We are done with the 2.5 innovators. um We are. We've crossed the chasm with the communities surviving one election, some disputes here and there and then a lot of new developments new releases. So I think we've crossed the chasm we will now exist.

B

You know that's the point of no return and then there is the early majority. So now is the time that that if you are joining in today, baselining um yeah, congratulations to you because you have been given the the gift of a built, well-built community, a solid core dev team and a lot of content also to to support business cases uh in the days to come. So yeah, uh that's where we are uh yeah. Congratulations to you!

B

I I hope that you make it big before the late majority also comes in and this becomes commoditized right. So let's make a lot of money doing this uh yeah and then there is the real drivers of innovation. Why I say that it is important to have events like these. This is our maiden event. Thank you all again, you're our first audience who's listening to us in person.

B

There's a lot of people who hear us on baseline shows every wednesday, thursday and saturday, so it used to be my show used to be saturdays, but it's now thursdays. So the real drivers of innovation are creativity and curiosity, that's what I call the two c's leading up to the ecosystem.

B

So that's so this is the ecosystem that we've been waiting for, that new people come in, join us uh think of new ideas. We are also running blips, which are baseline improvement proposals, so you can come in and you can bring in your own ideas how we can do baselining better, how we can add more components to it. You can also propose some grants for for for these blips, so it's all uh yeah. So it's all ecosystem play- and I think we are.

B

What we are doing here is- is purely focused on ecosystems, so but keep your creativity and curiosity alive all right, um so yeah with that, let's see yeah. I need you to imagine. So that's my last message. I want to leave you with this. Please imagine things which can be done with baselining and come up with new business models, new ideas which we can together take to market. There are huge companies involved already, so I have not seen a team which is struggling for funding.

B

I've not seen a team which is struggling for getting the right dev support within baselining. You post a question on slack. You get an answer within 15 minutes. That's that's super awesome. There is no tab nobody's getting paid to do it, but still being done all right, so it's very, very, very active community awesome um yeah. I just want to thank these two people they've been solving. uh You know, they've been posing a lot of problems for all of us, so big thanks to alice and big thanks to bob. Please give them a big hand.

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Lot of our problems that we're solving with baselining starts with them having business issues you're going to be hearing about their business issues later part of today, but yeah these two people, you know they're good at heart. They want to do business, it's just that they have some problems. So let's build good systems for these two people.

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Awesome uh with that, I bring back my sponsors. Thank you guys once again for making this possible. uh We love. You cheers.

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So I am supposed to bring in the next speaker as well. Sorry, uh so with that I bring in stephan smith, who is the co-founder and cto of unibright, our beloved company and uh and yeah. They went live very very recently with their base ledger so yeah we should. We should give them a big hand, so yeah welcome stefan he's going to be virtually with.

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Us, hey, hello, everyone. I hope you can see and hear me. Yes, that's the.

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I see is myself twice, which is uh interesting, but I will have some synchronization with myself. This is a good baseline example. Actually just kidding. My name is stefan. I am a cto and co-founder of unibride, I'm also baseline tsc member. um There are some words about unibright we're a blockchain integration company from germany, founded in 2017..

C

We offer software services tools for connecting it systems with the help of blockchain technology, so the baseline protocol was a perfect fit for us. Definitely yeah. Thanks for.

A

C

Me here at least virtually and thanks to all who made this event happen thanks for the intros, keith and samrat, and I will now share my screen. Please let me shortly know if you can see it.

C

Okay, I can't see any feedback here, but I will just continue considering that you see the screen today. I want to give an example on using baseline by using base ledger in the context of synchronizing music streaming reports.

C

My presentation contains of three parts: first, a short intro on the music streaming context, then a short overview on base ledger a blockchain for baselining and then an example on how baseledger can be used for synchronizing, not only for data from the music world, but this is the example. For today I will start with a with a short um disclaimer from my side, besides being a computer scientist and software architect and entrepreneur since around 20 years now, and in this role working for unibright, I'm also a musician. So my band van canto exists since 2006.

C

We released eight albums so far of which six reached the top 50 album chart positions and as a producer arranger, I also participated in more than 50 productions.

C

The last time I visited amsterdam was on the 2018 european tour with my band, so this photo was taken pre-covered here you can see a small impression from the after show party in the creek in amsterdam, very nice venue. You should check it out, but I I'm not sure if they reopened. Yet um I'm telling all of this, because I will be talking a lot about platforms today and both martin and me, as the unibride co-founders, have always publicly presented stuff that we really know what we're talking about.

C

um We are better in getting things done than uh yeah, announcing stuff or perhaps talking about stuff that we are not so good at so, uh as unibright has not been perceived as a music. This venture, mainly, I think this context is needed, so you don't get the feeling. Why is this a baseline? It guy suddenly talking about spotify, that's an important thing yeah. So here's why spotify is only uh one streaming platform. I made a small statistic check yesterday and took this screenshot. So until now my band comes to around 2.8 million, distinct listeners.

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On that platform alone, you can add some zeros for the number of streams. Of course, we have eight albums. We have eight members. We had four different record companies throughout our career from our first self-founded one up to sony music.

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We have license partners and contracts all over the world, so you can imagine, there's a lot of reports on licenses royalties and payouts happening so much for the music context. We will return to that later. So what does a bass line and bass ledger have to do with that?

C

Bass line is about multi-party workflows and and bass. Ledger is the unibright implementation of the bass line. Pattern as baseline is a free standard, and you need implementations that actually put this into into product so base ledger is our own blockchain, where the mainnet implementation went live some weeks ago.

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Ledger is an enterprise focused blockchain, offering the main features for enterprises that want to overcome the um let's call it let's do a poc phase and want to use blockchain in production so for the key features.

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Data privacy, bayes ledger is a public council government blockchain, so companies do not have to set up new silos or private blockchains, but they can still consider the data save and stored in a gdpr compliant manner.

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Base ledger puts a lot of focus on integration, so this is, of course, as an integration company, our core request to not only offer a piece of infrastructure, but also working on connections to existing I.t systems.

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Service quality is a very important point for enterprises that want to go into production with a blockchain related implementation.

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So baseletter offers a reliable cost structure, driven by our own token ubt, but calculatable on a fiat based fixed price based on the transaction size, which is very important for enterprises that are setting up long-term integration processes and want to know their costs for the upcoming months and years, of course, and the unified architecture, meaning that base leisure can work standalone or can be integrated in a multi-chain setup, for example by anchoring base ledger proofs on ethereum if needed, um yeah and some small remarks on the token model and ubt as the token that drives base ledger.

C

Ubt is an erc20 token on ethereum and it's used both as input and output token on base ledger. So the way it works is clients or users that want to use, base, ledger and store something on that blockchain like the proof they have to bring in ubt into a smart contract, and then they get an amount of transaction that they can use inside base ledger, and this incoming ubt is never touching any of that's the unibride's accounts or anything. It's just.

C

A smart contract that is council governed and this ubt coming in are distributed to all the stakers that and validators that ensure the security of the network.

C

There's also proxy staking models, so some of the stakers can have proxy stakers on their own. We have solutions on geyser and mover coming up, so just to give some context. We are in the or uniprice started as a enterprise, also in the crypto world. So we have our own token and there had been a lot of discussions. Why would you need your own token? You can uh you can do it with fiat or whatever, but as soon as you're?

C

Talking about a blockchain infrastructure and really in the ecosystem, a healthy, growing, organic ecosystem, then using a token to secure the network and to both pay for transactions makes totally sense, and this is also one of the things that we understand under service quality that enterprises can actually make use of such a token model to to use a blockchain.

C

Some base ledger effects. um Our mainnet went live in march, driven by ubt as input and output. Token, as just mentioned, and now around four weeks later, we have about 50 million ubt staked. As for the validators, which means 10 percent of the total supply, we were completely overwhelmed by that. To be honest, we didn't expect such a high pickup rate, so very great to be in such a healthy community and ecosystem.

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We have 17, validators and onboarding new ones like on a weekly base, and currently we already have like three and a half thousand proofs per hour that are dropped on base ledger so base ledger itself is, is a proof of stake, blockchain, where the main purpose is to store proofs efficiently.

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Proof can be like a like a string of some kilobytes and you cannot.

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You cannot calculate back what this proof means or who dropped it. So the privacy part, of course, is a very important thing inside base ledger and baseline.

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Then we have the base ledger proxy, which is in our open source, baseline implementation, giving all the features that the baseline pattern needs like work, group management, off-chain messaging proof, calculation, the trust mesh thing that we will show in the example later, and also a rest, api and native base, ledger connection and there's also already some ecosystem around base ledger.

C

For example, conubc is an sap certified blockchain connector developed by construct and unibride, which is already live in the sap store, so that you also do not only have an infrastructure component but really think it like from end to end from a user's perspective that want to make use of blockchain technology and integration processes so um yeah.

C

How can an enterprise use space ledger and make use um of the baseline patterns basically uh base ledger can be used in all business scenarios where two or more parties uh alice and bob or party a and parity party b exchange and synchronize data.

C

This data can be purchase, orders or lending requests or certificates on steel production or streaming reports and music. The parties synchronize a piece of data. They both agree that the synchronized data is correct and notarized. This agreement on a blockchain on base ledger in this example.

C

So this alone already is a great add-on for all existing integration processes, as the act of notarization adds a tamper-proof timestamp on the agreement of both parties, which can be used afterwards by other parties when it comes to continuing the process or building adjacent products on a state that has been notarized.

C

The baseline protocol itself often mentions zero knowledge proofs, which is a proof to a third party, that something happened without the need to tell the third party what exactly happened.

C

So this is also possible with base ledger base, ledger stores, proof or proofs or results of synchronization agreements, and the base ledger proxy also contains logic and tools for limited knowledge proofs as well, um and here in the in the slide. We also see the connector part, which I referred to earlier, like the sap connector, so you always have different parties that connect to a stack that enables the baseline pattern like the base, ledger proxy and then store proofs on the base ledger.

C

Yeah, given that I want to make some small remarks on use cases personally, I think it. It is a mistake to try to compile a list of baseline use cases, because any list always gives the impression that it's also a limitation to the use cases that are listed. So that's why I prefer to show examples like in this um presentation.

C

It will be an example from a music streaming platform, but baseline or base ledger is, of course not limited to the music industry or to supply chain or to finance or to the steel industry or whatever, it's just a pattern so when, when we compare it with, for example, email coming up some decades ago, I don't think that people ask. We have to come up with use. Cases can can email be used in supply chain uh sure it can.

C

But an email is just the communication pattern or the technical standard, how to exchange messages, and then software, like thunderbird or outlook, implemented the standard and added some user-oriented features.

C

So you will not find a list like steel industry, finance and music industry on the outlook product page or on the wikipedia entry around email, because it is because it's just just the pattern- and this is also the case uh with baseline.

C

So the pattern that we focus on is, as I said earlier, party a and party b, the work group uh synchronize, a specific piece of data or a new version of existing data um using the base ledger proxy, for example, and then they notarize this synchronization act on base, ledger and optionally. If a third party appears, they can prove that this synchronization happened.

C

So, for example, that third party can build products upon it.

C

This multi-part synchronization of different versions and approvals or even rejections of new versions, is stored in what we call a trust mesh and what is then notarized on on base ledger. So a trust mesh is the the full yeah, the full graph of all versions, that party a and party b synchronized on, including the notarization part on the blockchain.

C

I don't want to get too technical.

C

I think the developers among you should check the docs at the github. The scope of this presentation is more to come to an example, so here's a small example of how a document looks like that was synchronized via trust, mesh synchronization.

C

So, on the left side, you see um like a tree which consists of some attributes of the data exchange.

C

This is the the leaves in this case it was a purchase order which has it id and a discount and on the upper levels of the tree, you see intermediate hashes that are created by combining the leaves the strings, the string value of the leaves and calculate hashes out of them, and you can do this level by level until you reach the the top of the tree, the root of the tree- and this is the the value that can be stored in in bayes ledger.

C

So the data itself is exchanged on a private um off chain layer, for example, on nets or whatever fancy protocol or technical solution.

C

Is there um and then you store the the root of such a synchronization, uh for example in baseletter, and this way you can also limit knowledge to a third party that wants to see that the synchronization happened, but perhaps is not allowed to see in this example the discount, so that third party would only be sent a subset of the of the leaves only this example only three or four, but all the intermediate hashes that were calculated in the intermediate layers and also the root.

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So they can recalculate the root hash and compare it with the one stored in base ledger without the need to know all of the detailed attributes of the exchanged object.

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For all those that are interested in, how is how this works and how it's implemented?

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There's some material around a base ledger, of course, and the most important one from a developer perspective would be the github github.com base ledger where you can have a look at the open source, proxy implementation and the trust mesh that I just showed.

C

Inclu, including a visual component that shows trust meshes, is part of the open source implementation there and from user perspective. If you just want to see how how bayes ledger as a network works and grows, you can take a look at the explorer on base ledger net, looking at the validators, the transactions and so on.

C

um In this case, let's take some roles from the music business, usually the streaming platform, so something like spotify or amazon music report, the streams to record label and the record label pays royalties to the band or to to their bands.

C

With a specific share, some bands get reports on all physical and digital sales like every month, perhaps on every quarter or twice a year, doesn't matter and the idea, if you, if we approach this from a from a baseline perspective, um if you think of notarizing the streams, the not this, of course, not the audio streams itself, but the fact that they occurred and that somebody clicked on. I want to listen to this or that song say on a daily basis on base ledger.

C

The band, for example, could be the party c, which is now able to verify the number of streams that were reported to the record company without needing to know, uh for example, the exact amount paid to the record label or the other way around. Perhaps learning about the amount that is was paid to the record label without needing to know a specific distribution of which song was streamed. At what day times or regions, so the important idea is that the use case, which I'm I'm not a fan of calling it use case more.

C

The example uh makes sense if platforms uh synchronize and use the baseline pattern- it's not so much uh or not so interesting. In my opinion, if you find that one shiny customers customer that says yeah, I am using the baseline pattern like if you would find one band that agrees with their record label that they are now baselining their streaming reports.

C

Of course, this is also added value totally totally fine, but the real value comes, if you think of this as platform based like a streaming platform that um already have the connection to the record label and they already report all of the streaming, so the record label can take them in their erp system and build reports for the bands out of that and to put an integration component via baseline on top of that, existing one is what I personally think is the real or will be the real game changer in um baseline adoption.

C

Of course, we all need these examples and small use cases to explain who bob and ellis is, but the real fun starts if we think about platforms that are implementing this. This pattern in the same context, you could think of another instantiation, so think of a producer or production company that creates a band or a concept, a worldwide tour whatever and the band agrees to a deal with getting shares of all royalties or incomes, no matter if they're from cds or streamings or merch sales, so t-shirts and stuff. So these 360 degree deals.

C

They were very popular in the first decade of the century, and many of them are still active, because the bands are selective.

C

So now think of the situation where a new member joins that band after five years, where the deal has already been in place and that new member, perhaps she wants to be sure that all the royalties in the deal were synchronized correctly before she before she enters the same deal, and perhaps the band or the former member does not want her to know the exact amount that was paid by by royalty.

C

But she wants to prove that the synchronization happened and that all the parties involved. It's only two parties here, party and party b, but could be several parties, like producers, record companies, merchandise companies that they all synchronized correctly on this data and on these reports and that they all agreed that these reports were correct.

C

Now, we're only talking about, let's say real world existing parties like a band or a producer.

C

You could think about something where it even gets more interesting, if you're not talking about real musicians but ai generated music. So just a small x, curves, unified ventures is currently participating in a venture called metal birth, where a I generated. Music is democratized by community participation, so think of it like all of the democratic processes in a band like songwriting or picking, the artwork is controlled by a community which votes on the parameters of the artificial intelligence that creates the music.

C

If you want to take a deeper look, you can check out metalverse underscore ai on twitter and the baseline related instantiation of that example would be that you have still a streaming platform as party a and you have that ai band or a software system that creates music, and you have a community, perhaps with thousands of people that are somehow part of the process, and they want, for example, to prove that these streams from the ipad on spotify were really reported without having to know the details of the deal or in another scenario, if you think of the bands like a like a dowel, the community could be proving that the revenue share was correct without having to know the details of exact streams on every platform, or something like that again.

C

This is an example where platforms are synchronizing and that's where it really gets interesting and in in the case of base ledger. It's also important to mention that all these enterprises or platforms or single clients can use base ledger without applying for it or going public with their intentions um so now being a unibrite related venture.

C

Of course, I can talk openly about it and we explore all the possibilities to use the baseline patterns and base ledger within these new ventures like like metalworks very openly and we're happy to present them, but um from a baseline perspective and from a base ledger perspective. I I am personally equally happy about every user that just uses space ledger without the need to, I don't know, join a discord or a slack or a telegram or baseline office hours, although they're always fun to watch and fun to participate.

C

But um I mean talking about privacy, it's very important that we build all this ecosystem in a way that yeah enterprises just can use it and perhaps do not want to have the public appearance part of telling the world. Now we have a new boring I.t system that just should be able to use it and take the benefits out of it, which the baseline patterns and the baseline clearly clearly bring.

C

Okay, I think all of this topics um would deserve an own presentation in my feeling, but at least I want before closing, I want to point on on some references, unibrite, io and ubt. The token is, of course, a good source. If you want to learn more about the the company and the uh the token model based ledger blockchain, you can have a look at baseledger.net as the as the landing page to get all the material.

C

The explorer I showed before is more to see what happens actually on base later, with which kind of transaction developers perhaps have a look at the docs at baseledge.net or the github.

C

um If you want to learn more about the sap part which we haven't covered at all in this presentation, there are many presentations, also online, where we, where we showed sap screens of purchase orders. But I didn't want to do that again, but you can check out conservacom with the sap connector and, of course I mean that's quite obvious, as you're in the audience, because you're interested in baseline, you all know baselineprotocol.org.

C

And yeah I mean there's a big community around who's actively working on that every day, not not only in the base ledger context, but also in the baseline context that work on new material, new examples to conferences like this so yeah, everybody that helps to get the word out clearly helps a complete ecosystem and not just single companies, yeah thanks. So far from from my side, I don't know uh exactly what the what the agenda is.

C

If we have like a question and answer section, um I can't see or hear any of you, so I will just stop sharing my screen and wait for further instructions. Thank you very much.

A

All right, everybody, another round of applause for stefan schmitz woo, a cto of unibright. I think now we're gonna take a short break, 10, 15 minutes. You can uh stay here and kind of ruminate on that great presentation of what he's given to you and just let that sear into your brain or you can get up and go get some snacks or whatever, and then next up is myself I'll, be giving a small presentation on the basics.

A

Right here, baseline architecture simplified for everyone. So um that's it. Thank you for listening and uh make sure to come back. Thank you.

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He'll tear your head apart.

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I tried to do my best by him.

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Hello all welcome back good afternoon.

A

uh As you all know, my name is keith salzman zk dev uh part of the applied again r d team for baseline. uh That's a really great picture of me. Yes, um it's right there in the picture.

A

All right, and uh so today I'm gonna be giving a talk called uh the basics. Okay, so uh one thing that we've kind of found with uh you know introducing baseline to people.

A

It can be difficult as a topic to consume in a single sit down right, so we we strive in these conventions to at least have one talk uh to go over the baseline architecture. What we call simplified for everyone right, I think it's a pretty great name.

A

We came up with the acronym first and just plugged it in there. Okay.

A

uh So if you are an advanced baseliner, you know, maybe this talk isn't exactly for you, although hopefully you can glean some things about the kind of architecture behind the scenes just from the standards point of view, and if you are totally new to baseline or you know, you've been involved a little bit in some of the open source or even if you are not tech savvy, although I will dive into a couple of uh techy things, I think this is a great place for you to start and get an understanding to kind of develop those mental models.

A

In your mind that are really necessary to make it over that initial learning curve of understanding. You know what what are the concepts behind baseline? What are these uh strange, fluid architectures behind the the baseline protocol itself from a standards point of view, so there there are a couple things that I will ask you to keep in mind during this talk, especially if you're new. um You know that I I'm presenting from the point of view that you know the the baseline protocol. It is a protocol.

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It is a a standard right, so, while other talks may be showing specific implementations- and those are great concrete examples to wrap your mind around at any point in time, if I'm showing you some diagram or something, and- and you ask yourself well where, where is this thing? What does exist?

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You know maybe we're just saying it is existing and it is acting as it should be for the point of this example right and that the implementation in real life may look very different depending on uh you know the the actual uh case, I won't say use case, because stefan doesn't like that. The example right that you are implementing right, okay, um I think I think that's it. Are you guys uh ready to begin?

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You have your brains, primed, okay,.

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Okay, there you go uh so uh before we kind of dive into uh a real simplified example, uh to kind of elucidate some of the uh architectures behind the implementation or behind the the protocol, the standard itself, just of course starting off with a little bit of background.

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uh So, of course, we have baseline protocol launched march 2020. We have the co-founders microsoft, ui consensus, open source standards project. So, as most of you probably know you know, you can get involved in any part of baseline, whether uh you know if you're, if you're a dev, if you just want to be part of outreach, pr, really anything all parts of open source anybody can get involved.

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uh This project is governed by oasis, the open standards body and, of course, we have you know plenty, as you can see all of our icons of all of these great sponsors we have here so many great icons. Please look at them now. Yes, some of them are here today. Some of them are not okay um and and just to kind of set the the the base the baseline set the ground behind.

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You know what what was the uh initial question kind of asked and, of course I I was not there during its inception right, but what was the initial question um or or something close to it, that baseline or the the co-founders of baseline were kind of asking themselves to solve? Well, if you listen to stefan, you probably got it right, which is that uh you know in today's world.

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We have all of these uh enterprises who are holders of this complex data and they are attempting to or should be attempting to communicate with each other right, and although that does happen today in some form that this there can be, this can be very problematic uh in terms of you know. How do we speak to each other in an efficient low-cost way uh where we can guarantee? We are, are synchronized and we have security data integrity all these things right.

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So that is the kind of the the baseline of the problem that the baseline protocol was seeking to answer right and so try to keep that in your mind, as we go through now so baseline, of course, has you know reimagined the way this is going to happen and all of today we're going to go through how that reimagination was built, we're going to look at it from a very simplistic point of view right so again, anybody can understand all right, uh but again before before we dive in I'm gonna, keep saying this before we dive into architecture, because if we dive straight into architecture, I think uh you know we'll lose especially.

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Maybe not anybody here. Maybe you guys are hardcore baseliners, but the virtual side. So let's go, let's start off with a definition. So what is the baseline protocol right?

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Try to carry this definition in your mind, we have a standard that enables two or more state machines to achieve and maintain data, consistency and workflow continuity by using a network as a common frame of reference. So this is very, very basic right. We have the standard baseline itself a guideline.

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A railing for how to implement this thing, two or more state machines today we're going to focus on two parties, two state machines, but you can imagine uh you know how this will expand to you know in amount of state machines in amount of parties, and we want to achieve and maintain data consistency right.

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We want to always be synchronized and we want to uh be sure that, as we execute and move to the next state that we are already synchronized uh and hopefully in a trustless environment, so on workflow continuity by using this common frame of reference, so we want a common frame of reference. uh We're gonna see in today's presentation what I'm gonna keep calling a ccsm or uh consensus, controlled state machine for many of you, uh of course, that means blockchain right, but really it could be any distributed, ledger technology of any type right.

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um So the second definition here the set of tools and libraries. I think this one is a little bit harder to wrap your mind around you. Maybe ask yourself: you know: where are those tools and libraries? Well, the simple answer is that inside the baseline repo, while there are core packages that will help kind of define or interfaces of how and what tools should be implemented that really, if you're, looking again for those concrete tools, you're going to look out for those outwards towards those concrete implementations?

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Okay, so let's try to keep that in mind all right. You guys got it saved in your brain.

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I see a couple of yeses all right. uh There are these terms and concepts I'm going to keep coming back to the slide. If I can, if these buttons are fast enough in case, we need to define some concept from a diagram that we're looking at there's a couple of things here again the consensus controlled state machine that I mentioned ccsm.

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We have a couple things: a work step, a workflow, a work group uh right now, I'm gonna focus on the bpi right, so the baseline protocol instance, or sometimes implementation.

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So really for us, these are logical, constructs they're shared uh you know between transacting counterparties of let's say requesters and providers and implementing on the ccsm. So I think it's it's difficult unless you've been part of baseline for a while to really you know, wrap your head around.

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You know what what is this baseline protocol instance and uh where does it exist?

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uh You know out in the ether online off chain uh on chain and we're gonna discuss that a little bit, but for a lot of the diagrams we're just going to assume this thing has been implemented properly and try to see the overall flow. Okay in the next diagram, we're going to see we're going to look at work, steps, workflows and work groups.

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So you know within a baseline protocol instance, we have like a set of parties that want to engage in some transaction in the examples I'll show it'll be simplistically, just like a purchase and order thing right.

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It could be anything it could really just be sending a message from one party to another, in this case we're going to be buying some product, a buyer and a seller. Okay, and we're going to look at the flow of just a work group from a high level and then I'm going to dive into in detail. You know how we go through the flow, so let's go ahead and do that right now.

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So all right here is a workflow diagram. This can be found in the standard I like to use all of the pictures and diagrams and everything from the standard. In that case that uh you know after my presentation, I know you'll be thirsty for more knowledge and you're gonna go straight to the standard and read all the way through it right and you'll notice that we're using the same diagrams you'd be like ah ha I've.

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Seen this before I'm familiar so here we have an example workflow and in this workflow let's say we have this work group, so a a a group of bpi subjects that have uh gathered together uh based on some agreement between them.

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So, for example, if this was a buyer and a seller and they have some agreement of some product that they're going to transact between them right and um we have a work group b, so work group b b could be uh let's say, maybe in this simple example, something with a seller and a manufacturer or so on and so forth.

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So again the examples today they're not exactly going to be a reality, but just again for simplicity and, let's say work group, a member has some input for this work step, so that could be an actual purchase order right. So if you decide to purchase something- and they may include based on the agreement between the buyer and seller, the two parties that information they've agreed upon as well as some kind of let's say uh proof in a lot of instances, you've seen us mention- maybe zero knowledge proofs.

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It doesn't exactly have to be a zero knowledge proof, although hopefully I'll have time to get into why. I think it should be, but some sort of proof to say that you know we have.

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You know done what we need to do according to our agreement between them and uh that work step will then, let's say be the flow between the buyer and the seller, and the seller will verify that proof, let's say do what they have to do and then there'll be some output, a change in the overall kind of shared state of the the bpi itself right.

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The state object that is passing that output will then become maybe an input to the next workflow, which could be something between a seller and a this. For example. It could be really anything at this point and, of course, work. Group b will have its own bpi subjects, it'll be governed by some master agreement or agreement that they have and something similar will happen here again, transaction of data messaging, depending on you know, what's within that agreement and then, of course, we'll have an output and so on and so forth. Okay, all right.

A

So uh this is just a flow for a simple purchase order, let's say without baseline protocol implementations or ask things going on, and I think if I'm not going to follow it all the way through. But if, if we take a look, I think it's easy for most of us to imagine.

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Okay, you know we have a request for a purchase order. We create the purchase order, it's been approved, the vendor receives it. We create an invoice and it kind of goes back and forth right. So there's not to say that there aren't. You know, of course, guarantees in this current system today, uh but uh it's it's easy for us to see uh how this can get messy right, how uh you know, maybe we go down through the flow and realize something is wrong and we have to back up.

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There has to be some kind of manual reconciliation and at what cost does that come right? I think everybody here or online has obviously dealt with these kinds of things in their life and it's easy to imagine how we can have these systems in some kind of weird asynchronous state and so on and so forth right. So we set the stage. This is kind of the the problem we're talking about. It's very simplified. There's two parties here, but as you blow this up.

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Between n number of enterprises, the the problem is exponential right.

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All right- and so here is that kind of solution applied the baseline protocol solution applied to that situation right. So this is where I'm trying to make the connection of hey. That's the problem we had before now we're going to go through the actual flow in detail.

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I'm going to go through the flow in detail of you know: how do we guarantee that we can avoid having to go synchronization and and all in, let's say, hopefully, a trustless environment with zkp's, my preference all right, so uh we have the bpi in the middle. You know we're going to assume. We have a correct implementation, it's doing uh whatever it needs to do with uh whatever specific information implementation technology that you're working with.

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uh We have the buyer and we have the seller. Okay, uh so let's say they already have an agreement between them. There's already a we call it msa a master services agreement between the two parties here that are in the bpi in their own work group in the bpi and that contract logic, which I'm going to say it's like a codified contract logic. They may have an actual like legal pr paper presentation between them or representation between them, but we're gonna codify that logic.

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It's gonna be part of the the bpi uh into the ccs system, again we're assuming that is able to work and function, and let's say the buyer wants to make a purchase right, so they make some kind of api call that will validate their order, what they want to order from the seller against the contract logic itself.

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So the contract logic that is living in here that dictates the rules of how these two parties interact. What's: okay, what's not? Okay already holds the logic to say: okay. Well, you want to make this order.

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Then you're going to have to provide this certain specific data information whatever it is, they do so and then the bpi itself has this tool to generate a cryptographic, proof that we are in compliance, and you know we can then update the contract state that this purchase order is in compliance so far right now what that cryptographic proof is again we're not worried about that right. Now I keep having to make plugs.

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I feel like for zkps, but there could be really any proofs that you want to use at this step at this implementation right, and so let's say we return that the api responds with the cryptographic proof of compliance, and now we are ready as the buyer.

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If we are serious else, if we see ourselves as a buyer, we are ready to send that proof off uh to the seller right now how we send that to the seller, whether in this diagram, seen as moving through the bpi or if we've set up a relay or some kind of messaging protocol directly between them, we're not going to get into the specifics, we're just going to say. We have a way to transfer that message: protocol over we're going to submit the order with the cryptographic proof.

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So we have all that data required by the seller. The proof that we are in compliance, maybe hiding some private input and we're going to send that to a place. The seller can retrieve it right, the seller retrieves it they get the message containing the order and the cryptographic proof. The first thing they want to do is they're going to want to validate the proof right again, in this case simplistic, we're thinking of a single proof.

A

It could be multiple proofs right depending on the example and so we're going to as the seller, if we think of ourselves as a seller, we're going to validate that proof against the bpi all right. So we validate that proof at this point, we're either going to get a positive or a negative result.

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So if we get a negative result, we we already know that whatever was sent to us, it is not compliant with what we agreed to right. It doesn't need to go beyond that. This is not a valid order right, but if we get a positive result, we have verified this proof, and then we say: okay, this is a valid order, and now we need to do what our side needs to do, which is to take the data or information from our system to say that we are accepting this order.

A

Whatever the order is, and we're going to do something very similar to what the buyer did right, we are going to, you know, make a request to the bpi to generate the order, acceptance from the contract logic so again, dictated by this service agreement that are between the two parties, just as the buyer did when it first generated the cryptographic, proof that it's within compliance that it's orders when, within compliance that now the seller, accepting that order and again you can use your imagination of what parts of what data what's going to be input here for them to make sure they're within uh compliance and then they're going to do the same thing.

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This will generate a cryptographic proof that they are actually within compliance, and they will bundle that up with returning acceptance of the order and they'll send that back by some messaging protocol to the buyer right so now, at each step you know we're kind of having this state change right. You can think of it as like. A single state object, that's kind of moving in between here it starts off as the order with the proof created.

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uh It's validated updated with the information the seller needs to put in also bundled with their own proof, and then kind of you know sent back to the buyer to say yes, everything's good everything is in compliance on both sides.

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Let's send it back one more time, so you can validate to receive that final kind of message from us to say we're going to send you your stuff, whatever. That is all right, so they get that message uh they validate against the bpi and the proof and, of course, they're going to get a positive or negative role. So we see at any kind of step here where, whenever we have to verify the proof that something uh you know agrees with, that codified contract logic, that's already been agreed upon by the two parties.

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Whenever we get a positive or negative result, that'll tell us right away if that party is acting in a way that we have agreed upon and if not, then there's no way for us to reach that next state of which we have to go back and then do some kind of like manual reconciliation like a asynchronized state. Again, I'm just that we're unsynchronized in this case now.

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Normally, I would ask for questions at this point in time, because I've gone over like a large chunk of something and then I hope it does make sense like the larger audience, but unfortunately I'm gonna, maybe save it to the end or if I run out of time, then maybe you'll just kind of have to ask me in person, okay, but I feel inside of me right now, like the need to be like questions, questions, questions, okay,.

A

uh So up until now, we have kind of just assumed uh that the baseline protocol, implementation or instance, is there and it's working, and I think if, if you're really looking, for, uh you know a concrete representation that you can get your hands into and say like. Aha, I see this is how a bpi works.

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I think you really need to look to those implementations. There are plenty of examples in the uh the baseline repo itself and, as you go online and get involved, you run into those examples, and I implore you to dissect more than one to see that the actual implementation between them really uh there is a lot of leeway in flexibility if you're following the actual baseline protocol standard.

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um I guess I can read to this really quick. So the the baseline protocol, instances or implementations there are logical, constructs shared between transacting counterparties of requesters and providers and they're implemented on the consensus controlled state machine.

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So I think, depending on the example right in my mind, to say you know how much of the the bpi, which I tend to see as a like a shared state machine that how much of its functionality is on versus off chain and you're, trying to consolidate that in your mind of exactly where it's at.

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I think that that is best left for a specific example where we can see okay, you know what part is where and what interaction is happening, and that's why I suggest you go look at those specific examples to see what differences have happened in their implementations. To compare.

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You know, what do you think has what advantages or disadvantages and so on and so forth, but for now we can think of it as just a logical construct that it's implemented on a ccsm but in reality a shared state machine where portions will exist on and off chain. uh Where we've seen in other presentations, there will be like a a baseline proxy on top of a connector and so on and so forth.

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All right um so this this is again another image from the standard we have the baseline protocol instance. uh This is not part of it, the ccsm layer. uh This is just an example of a bpi.

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You know how originally it was designed. This gets kind of a bit technical, so I'm not going to go through it all, but we can see that all right within a bpi we'll have let's say a middleware layer and that mineral layer may have uh you know a a workflow section, uh a messaging protocol section that may uh exist. You know outside of the the ccsm that may allow for kind of direct messaging within the bpi. Just, for example, we'll have some kind of processing layer that may have storage.

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um I encourage you to get and go and look at this. I think this is, uh you know fairly technical in in its representation. If you're, not a you know, advanced baseliner, but I personally kind of keep this image aside. As I'm looking through implementation, see. Oh aha, I see this is where they have done kind of workflows.

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Maybe this is their middleware layer and it may not appear exactly as this all in this single layer right, but if you can look through and identify, oh I've seen that they've uh have the you know, business logic for dealing with flir workflows here or or you know, the messaging protocols dealing with messaging between two parties, buyer and sellers. It is here the virtual state machine here, the transaction pool the storage so on and so forth.

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This can help and lead you uh to shape that model in your mind of what should a implementation of bpi really look like and what are the the the the boundaries in shaping that bpi as you do an implementation right.

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Okay, so now we're going to zoom out a little higher up, uh we did the whole. You know like one by one workflow that I really spent a lot of time on that you guys are probably really tired of where I went did step by step and now we're going to kind of zoom out still the same simple example right: we have a what I call the mid-level architecture, so the middle of our architecture, we're not kind of fully zoomed out.

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Yet we were down at the low level looking at like one by one right and now we're kind of zooming up and just seeing okay. Well, you know this is how how do I think of all these things kind of together I saw the buy of the cellular bpi, so we have on the left, we have, let's say a commercial transaction application from buyer to seller and uh really uh some that you could think of this.

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If, in a concrete implementation, as the uh like a baseline proxy and a connector, um you know with some legacy system off over there and then the seller same thing, some, maybe proxy connector and uh you know legacy system off there. We have the state object, which is not only moving between them, but also through some baseline protocol core stack that middleware and processing that we've seen that we've discussed.

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You know how to kind of think of that shared state machine, and it's also kind of communicating with these internal apis through the ccsm abstraction, where we can think of that as kind of housing. Our bpi contracts, uh the contracts, the agreements that we've made between parties that dictate how they interact. You know how can we buy and sell?

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What do we need to include for this to move to the next step and be totally synchronized and kind of this trustless environment and be sure that we have you know the data integrity on top of low-cost uh implementation from the legacy systems? Okay, um and uh as if we can kind of you know, take this and map it into our minds of what we've learned so far from the low level like moving back before back and forth between two parties. You know this is kind of the next level.

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Up of really how you'd uh start to think about where to implement things at all those specific things that we abstracted in the last uh diagram and then we'll take that and we'll kind of expand it. You know horizontally outwards to say well. Well, two parties yeah, there are some cases and it's easier to think about two parties.

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It makes it simplified for us, but uh you know really, as you all know or- and I stated in the beginning- is that this is about this large multi-party compute, complex problem with enterprises, and it's never going to be that simple right unless you and your friend just want to baseline something between the two of you, which you can totally do and then so we move out, we say: okay! Well, this is really you know we're getting more towards real life of you know.

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We could have a commercial transaction application from vendor a to party one uh vendor b to party two gonna be to party three, and you know we kind of you know, use your imagination to expand. Out of you know how many different entities could be.

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You know working in this bpi as part of a single work group of which the logic of how they interact is dictated or what they've agreed upon in their own master service agreement, or they could be in separate work groups, as we saw in that original flow diagram, separate work groups that, uh within a single bpi or even as we'll see later, maybe multiple uh bpis with bpi interoperability right, okay, so I'll move on all right, and so that's where we're at this is kind of what I call the this high level architecture right.

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So this is to complete, in your mind the idea of okay at the very lowest level, two parties, buyer and seller, the next level up uh and in the first level we assume the bpi is doing. You know everything it needs to be able to do. We go to the next level up and we say okay, I need to know a little bit more behind the scenes of what this architecture looks like what was still two parties.

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We expanded it to three, but we can see the different levels of kind of architecture, still very kind of abstract and may not physically be represented as they actually are, but it still, you know, helps us and then we zoom out to the highest level where, uh if you read through the standard, you can see that there are parts of the standard that apply to having multiple bpis and them interact with each other.

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All right we're not going to get heavy in the details or anything on this, but this is just to say that the standard you know does have rules for this to happen. Right that you can, if you abide by the standard, you can have multiple bpis uh name them alice, bob and claire.

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But maybe this is just the person who was the first person in the bpi or in the work group right how it's named, and they are all, in this case communicating by uh a single uh state channel on which we might be using possibly multiple ccs amps. Okay, so you now have those three tiers of understanding of kind of a architecture of what can be done with the baseline protocol, all right now, um that is kind of somewhat the end of the technical of me trying to help.

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You understand the the basics right to just give you that kind of liftoff to overcome the uh you know that that steeper curve of of what is baseline.

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uh You know what is this kind of amorphous thing in my mind to help shape it to something that you can imagine and work with within your mind as you're entertaining examples? Okay, so I hope that has helped. Of course I have to talk about some companies that were inspired by the baseline pattern right.

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uh This is one of the uh kind of great benefits of having a baseline r d team is, as we think about these implementations. We happen to have many spinouts on on diaz that were originally baselined, so we have this. This was the original. You know question itself that came as a spin-off of how can we enhance current asset diligence practices to allow counterparties to verify asset performance without exposing sensitive data? I'm not sure how deep you have to be in to come to that question itself.

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It seems like a very like I don't know, deep and thought philosophical financial question, but somebody asked that question right and that uh led to in labs, so a facilitator and issuer of real world assets, pools and defies, and, uh of course, if anybody's been paying attention uh to any of the baseline shows or anytime john is on anything at all. This is a question. How can we use the pattern to enable cryptolithography and digital rights management to protect originals for nfts? That was the question that john was asking, which I think is.

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I think it's a little easier to digest than this. One of how did you come to that? You know like how what what thought process led you to that point, and this has led to, of course, street trunks: dot io the first multi-party royalty bearing nft uh marketplace, so we hope to have many more spin outs.

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um uh You know my team and I I should it's not really my team, I'm part of the team sonal's team, it's a shout out to the virtual people, sonal's team and I uh you know, have a lot of stuff we're cooking up, so we're we're hopeful that in the near future, we'll have many different spin outs. Okay, so just a shout out to that all right.

A

So um with that with that, with that great amount of knowledge that I've transferred to you now as uh as a as a new baseliner, uh let's say, or a middle level, baseliner the advanced ones you guys already know you're doing. Is you know how do I contribute to the protocol or really really for me when I originally wrote this slide, it was. It was. What do I do next? Where do I go or something like that? So I encourage you to actually read the standard.

A

It's a great read! It's perfect um not boring at all. I I I do encourage you really to read it. Sometimes you're gonna have to put it down and pick it up. Put it down pick it up, but definitely read the standard right now. um If you only just read the standard, you know, maybe that's that's it's difficult to to put that to even to what we've learned today, those models of the architecture.

A

So, in addition to reading the standard you know, look through the existing examples, read part of the standard it'll go over, let's say bpi implementation or one. You know focus of the bpi and and then look through the examples that are online say. Oh again, aha, I've identified I made this connection here is how it is in this implementation. Here it is defined in the standard here I see it in the diagram. How can I connect these things in my mind?

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Do I agree that this implementation, in fact, does follow all the things in the standard and while you're reading the standard, you know the thing that I've heard and I like to say, is the standard: is this living breathing piece of work, um no matter what andreas freund says and how great he is, I think he really his intention is for you to question it, and he welcome welcomes this question and so do I, when you're reading the standard question it right when you're looking at implementations, question them.

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Is this the right way to do this? We are actively and always having standard meanings and revising the standard through all kinds of critiques that people offer right. So read the standard. Look through those examples. At the same time again in the original slide, then number three was read the standard again, but with a more inquisitive outlook on life.

A

But my business and pr team told me to take that away and to them I say too bad, no, all right and then you know view all the existing resources uh go out, reach out to implementations that are not just in the baseline repo. We've seen today hear people speaking today and even ones that are not here today, reach out and see. uh Look at previous baseline shows demos, technical walkthroughs and then uh contribute to the work.

A

So um it doesn't mean that you have to be a dev, I'm I'm assuming I'm I'm, assuming that a lot of you here are either a dev or business side, but um for anybody here online you know contributing to the open source. Work is, is much more than just being straight technical developer. Right, uh there's a lot more to it.

A

You can be kind of part of the community um help out with the standard itself help with outreach to get people involved in baseline, there's really many ways way beyond the scope that I know that I would say probably only sonal patel is aware of in operations, but the first way to start is our nice get involved, link? Okay, so you know how do I contribute? That's how you contribute uh and to take you to kind of today's convention the event you know what are we doing?

A

uh It actually started three weeks before the event and extends three weeks. Three weeks after okay, we have the blip bounty hunt. So I'm not sure if most of you are familiar with blips, the baseline improvement proposals right and for this event, we have uh set out a number of different blips uh that are kind of we think interesting and fun. I think there's one about baselining a lot about baselining cards which might make you, I don't know a multi-millionaire with the casinos probably.

E

Billionaire no millionaire.

A

I don't know, I don't really gamble that much. You guys tell me and uh what else do we have maybe like a mafia game or calendars all kinds of stuff? So um I encourage you to get involved.

A

uh You can I've been standing in front of this qr code, the whole time you can find the details here at the baseline bounty or scan the qr code? uh You know it'll, take you through. How do you get involved in the blips? My suggestion is. uh Join the discord uh you know read the website. It's very short list. You once once you kind of take a look at all the different blips we've offered.

A

You can find a team get that team together and then kind of apply for a grant funds. If you have an idea of how to tackle one of the lips like okay, we're gonna do this one, then you just go into the repo and apply for the grand fund. So you know you can make a little bit of money.

A

Everybody likes money, no, don't like money. Okay, nobody likes money here.

C

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um And you know if you have more questions about any of this stuff, especially this that we want to get people involved with you. Can you know talk to me online or you'll have in person or online okay.

A

And that seems to be the end of my presentation. Okay, um I think I'm down to just a minute, uh so I I I'm getting the sign that I should wrap things up. I hope that oh keep going okay. Well, I'm personally, just gonna indent, you guys seem like you might be suffering a little bit. You hardcore baseliners, so uh we're gonna go into a break and then I believe in about 10 minutes five minutes.

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15 minutes uh we're gonna have the the great uh I believe it's anton mazgavoy is next from mover right. uh So I I I also want to see what are the web 3 juicy things right, so um 10 minute, 15 minute break we'll come back in we'll, listen to him. uh You know you can go ahead and find me outside. If you have any questions regarding the things I've talked about or if we have anything online, maybe I'll get in the chat hop in the chat really quick. So thank you guys so much.

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My name is keith salzman.

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Honest with you, if I do.

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But it can't be held no more excuses.

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Come closer, don't let you go another.

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No more excuses.

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Say you wanna do this.

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No more excuses.

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Let's do it right now.

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All right um everybody thank you for coming back. I know it's harder and harder to come back from this breaks, so I wanted to make sure that we have some good and fun time, and uh you know it's all sunny here. It's all sunny outside uh things. Just look bright, um you know the very beginning summer and then keith said that baseline community is very open and uh it's it's very welcoming. I think that's uh you know.

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We are an example because nobody invited us, but we we just came in um and we started doing things. um What I'm gonna talk talk today about is um what we do and uh how, um from basically being a card company being, you know, web3 sort of having an experiments company. We ended up doing something with baseline and specifically base ledger, which is again the implementation of baselining, and you know when I was building up this presentation.

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I thought that there's actually just one slide, that's boring um our lawyer said that's actually the only slide, that's exciting! It's this one! So yeah, that's just a little bit of disclaimer. So everything that I'm going to show you guys here is all just pure information. So it's all for your reference, so um I know some of you um ap in here a bit too hard, so just to make sure that you know we. We say it um and we love qr codes.

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So um I'm not sure if you guys can scan it, but uh whoever is going to be watching it afterwards. um So, um instead of talking about myself, you can just see what kind of stupid things I say in twitter. So if you are interested in that, um just join um what we're gonna talk about today. Is um you know what how many of you guys know? Well, you obviously know unibride, but how many of you guys hold upt tokens?

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Okay, I see a few hands all right, all right, okay, okay, so um we're going to talk about today. A bit is: what do we actually do? um What do we do with ubt staking and that's also part of the exciting web 3 stuff? So how do we make things permissionless we're going to talk about experimental stuff, which is again a very you know it might be the weirdest uh use case. I know I don't know.

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What's the word with the use case here for baselining stuff that that we are specifically building and we're using and we're going to talk a bit more about what comes next for us. um So a first question. What so? What do we do? uh Well mover is a set of different tools. So basically it's just a combination of things all combined together to do a very specific job is: how do we bring this web to experience of saving and spending your money into the web 3.?

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So the key important thing here is everything that we do in mover is permissionless and that's pretty important as we're going to come back to the ubt is taking, for example, it's just one of the products that we do so, let's quickly dive in what do we have uh so we have savings plus, which is an omni chain savings.

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um What is omnichain is basically when you don't care on what chain you are, you can be an eath, you can be on polygon, you can be on phantom, whatever you are, and the transaction that you make on that chain actually triggers something that happens on another chain. um So, for instance, your savings or yield strategy can be on another network and you don't even experience it, which is good, because if you actually try doing things multi-chain, it's terrible.

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It's it's absolutely disgusting, so hopefully we'll make it better wheels have thing. I love this piggy bank thing. We also have a cool technology for gasless, on chain transactions again permissionless, and that's why it's a smart thing, because you know you don't want to pay gas. You know fees right every time. Somebody has still has to do that, but you know not you and then we also have the crypto debit card. um There's a lot of crypto debit card products.

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um I think that we are the craziest people out there to try to push the permissionless and basically decentralize stuff as far as possible. So again, for you guys to understand um anything. To do with fiat is regulated. uh It's licensed, but then there's a very thin line of how far you can push it and study. You know be legal compliant with things and yet still offer you know cool web 3 stuff. So, um let's talk about staking- and some of you guys also have ubt tokens, which is a pretty important thing.

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Basically, a ubt is token that's used for staking in in the base ledger base later is one of the implementations of baseline and ubt token lives on ethereum base. Ledger is a separate blockchain and there's an entire mechanism of how you, as a ubt holder, can extract the value of basically the base ledger working.

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So in simple words right, so we apes get the reward. So how can we do that? Well, right now, what we created is the only permissionless, open and non-custodial proxy staking solution for both stakers and validators.

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So, as we, you know, typically typically in a typical project, how does the staking look like? uh Well, you just deposit your tokens into some smart contract. It prints some rewards every block or whatever, and that's pretty much it so simple as that there are more complicated models.

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There's, um if you guys know, let's say something like v models where you time lock things and then based on that you got different rights whatever whatever not getting into that thing, and here it's very different, because the tokens that you stake on ethereum actually just represent the sticking power and the base letter and then the node validators that do things so on base ledger.

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They are the ones who earn the rewards and then they have to share basically with the ones who provide that staking power. So what we do in simple words: we let people who own ubc tokens connect with the node validators, who actually do have nodes running up and doing things and we connect them in a permissions way, allowing people who stay qbt to earn a portion of those rewards and allowing the node providers to get more staking power so that they can earn more rewards. So, in the end, everybody's happy and we're happy.

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If, if you were happy, that's what they told me to say. So we have more than 2 million ubts so staked and it's a lot of different wallets. It's a lot of different people, we're going to talk about why it's cool in a second, because there's a very specific limitation on the base ledger what mean what it means is that, in order to efficiently uh generate rewards, you have to have one million ubt tokens.

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So if you have more than one million tokens, you're not getting more rewards you're, not benefiting, so basically, it's all about being efficient. So what it means is that now that we have more than 2 million ubi tokens here comes the cool thing about well, how many node validators we can actually help and you know, provide more rewards or being more efficient by the way, there's already a huge lineup.

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So the reason why I asked if you have ubt tokens, it's not because I genuinely care if you have it, but I'm generally care. If you can stake it on us, because we have a lot of validators in the queue so the more ubt tokens we have, the more rewards everybody gets.

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Let's take a look at how it actually works, so um this is actually a very, very cool chart. It's I animated it. um To be honest, I didn't, but you know it's different slides and it looks cool um how many of you guys have um coded a smart contract. I mean like a simple like hello type thing: oh a lot! Okay! Well, that's! That's! That's fantastic! I mean all right, so um this is the part for the rest of the people.

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Basically, what you can do uh what you can do with mover is you can do two things only two things right: if we're talking about ubt staking, you can only deposit your tokens and you can withdraw and you can withdraw well either the same amount of tokens if you have not earned any rewards or you can claim more if you earn some. So you know as simple as that as cool as that just two functions, but then what actually happens underneath is uh we have what's so called sub pools.

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So here comes the very interesting solution about optimizing. The rewards- and it's also important, because in order for us to make sure that we provide efficient service and it's still permissionless, we have to make sure that all of the node sub pools we didn't come up with. You know cool name for that thing, sorry about that um they all share the same state. So basically it doesn't matter how many millions of ubi tokens we get.

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We can create as many sub pools as we need and we can always share or rebalance between those different pools, because people can withdraw people can deposit. So a very interesting concept about this is that you, as a user, you deposit into the pool which then rebalances into the different subpools. But in the end you can you can uh you know you can always withdraw your tokens back. It doesn't matter because your tokens do not go to the specific node, but rather the total accommodate amount of tokens go to the specific node pool.

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So now that we have the different subpools and they're filled with tokens, we let the well the node validators to um to be delegated with basically this sticking power. So what it means, in fact, is that we say that a specific node has the specific amount of ebt tokens assigned to it and then, when the node operates, it earns the rewards.

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The cool thing about this is that the rewards do not go to the node validator. So in a typical model, let's say ethereum, you know not validator. So what happens is that you have your node it it's running, you earn the rewards and when you are earning the rewards, you are the only sole owner of the rewards in here.

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The model is, is that all of the rewards that are earned through our subpools go to the specific contract which receives all the rewards and calculates all of the rewards for both the stakers and for the node validators? So the very simple thing, the very simple solution created out of basically the existing structure of, let's say staking of a specific token in the base ledger model created a very, very interesting.

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A very elegant solution of how we can provide uh put it this way um how we can provide compounded, rewards, um typically typically and I'm gonna, go into it and that's also a reason why I put the disclaimer at the very beginning. If you claim your rewards, so you know, you've earned something. um You know: cool you've earned some crypto. Well now it's a taxable event because you claimed your reward. So now you own them. So you know not good.

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Now in this model, you as the user, you do not get to claim the rewards until you leave the pool, and then you decide when you want to leave the pool. So the reason why this model- this is just a you know, just an example of what we do. This is just one of the products that we do, which is related again to base ledger which we're going to go in a bit.

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We created a very cool thing, which has no lockups, no need to trust the validator. We have the cheapest deposit and withdrawal transaction. um How many of you guys um know let's say or have us? You know a slight um has better say experience with uh calculating gas cost of transactions on eth.

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You guys do okay, so um if you guys remember I'll, just I'll give a reference for everybody, the cheapest transaction that you can do as a user on ethereum network is sending raw eth, so basically sending eth from one wallet to another wallet and it costs twenty one thousand g way. So that's the cheapest one you can get. um If uh have have you guys ever used, something like let's say ava, so you get same people, okay right.

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So if you use that, then I mean, uh then you know that any let's say: uh transaction like providing collateral or borrowing money or repaying your debt costs a lot of gas like at least 400 000 gua. So you know see the comparison. Twenty one thousand four hundred thousand now uh for us in our case, depositing and withdrawing costs only from uh hundred twenty thousand two hundred forty thousand um deposit withdrawal transaction. So um this is the cheapest deposit withdrawal you can get in.

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You know in the staking model on ethereum pretty cool, but uh what it means is that, as I said, the reason why um you know it's a text friendly staking for ubt, specifically because you as a node validator and use a staker, you do not get to receive your rewards up until you actually claim them.

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So that's a very interesting model which allows us to compound them by basically recycling the rewards, so as rewards are being harvested, we put them back into the pool and then the pullback, you know rebalances back to the specific node and that rebalancing or the constant harvesting and you know, sort of like looping. The rewards provides the difference between.

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Have you ever seen this bank signs that tell you okay, so our apy is 0.01 or something like that right. Have you ever seen the you know same sort of posters, but they say: okay, our apr is slightly better. You know slightly bigger, so there's a difference between apy and apr. Apy is like a naked kind of rewards and apr is compounded. So, basically, theoretically, what? If you compound the rewards, how much more you can get?

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So this is the same thing off there's a native apy, but then what we do is really focus on apr because of the compounding effect. Okay cool.

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Now, if you scan this thing- and that's probably uh there's probably more for online folks, so I'm looking at you guys um scan this now so right now, upt staking uh is only live on ethereum, but we do. As I said, we do try to focus on omnichain stuff, I'm going to talk about it in a bit, but basically what we will allow you guys to do is to stake your ubt tokens, whatever they are so any chain anything and obviously it's going to be much more efficient.

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So that's just a little bit of the alpha there. um Okay! So let's talk about omnichain. um How many of you guys have tried to do a transaction on at least two networks, so, let's say eth and polygon the same people. I would expect you guys. Okay, doesn't there you go new person so the next time? I ask you a question. Just just raise your hand, it's mostly going to be you anyways multi-chain life is very very hard.

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So you know you got to have your you're gonna, have your wallet and then your wallet has to point to the you know: rpc that goes to you know specific network, and if it's a new network and the website you know, has a bad ux, you have to manually find out what you know. What the rpc connection is, what the points are.

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Gonna, you know fill it out, especially it's the first thing, and then you figure out that if you want to do a transaction on a new network, it turns out that you have to have guest money. So then you gotta look into the faucet okay. Where do I get this guest money and then, depending on the network, you either get it or you don't. So you have all this like different.

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uh You know experience in different problems like and then and then, once you find the gas money, that's the most important thing you have to find the bridge and then figure out that you also have to pay the bridge. You know to bridge things and then you have to actually do whatever you want to do. So. Let's say you know, swap the tokens, so you know you found this new token on some new network. You know it's very exciting.

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You want to get into it and then you have to do all these different things just to get to the token um we want to change this thing. So so that's why what we do is we have a network of proxy contracts, and this is also the same mechanism as, as I explained earlier, about the staking pools.

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Basically, what we do is that, uh where we're heading towards to and then with one of the products, that's coming up live very very soon.

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What you're able to do is that you're able to come from the network, ao transaction a and do whatever you need to do on either on the same network or in a different network without actually touching it. So um you know when it comes to like financial products, or um you know the the web 2 that we all don't like the experience of using it is very seamless, but um the biggest problem of having the web 3 is that um you know.

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Yes, it's new, it's cool, but you know the experience is so bad and it's hard and it's sort of like you ask yourself, like you know, why do you even use it? um I mean how many of you guys have had this thought. It's like. Okay, the coffee downstairs is cost. You know cost like three euros.

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You know that's too expensive, I'm not gonna pay three years for a coffee, but then you guys ape into like an nft mint, which is which worth like 200 euros, and then it's a failed transaction and then you gotta pay more money uh and it's and it's somehow fine! uh No, it's not! So that's! Basically, uh you know why what we do is trying to build all these different products that make your life. You know easier on a daily basis.

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um Of course, if you are into crypto um and that's that's what I wanted to say right, so you know this convenience of doing things in in a permissionless way comes with a cost. um So right now the cost. Is that basically inconvenience? um You know it's hard. It's um it's! It's very bad. I don't know why, but maybe because it actually feels like the internet of 90s most of the websites and crypto do actually have this. You know pixelated 90s kind of feel.

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You know kind of looks as it works right so trying to change that or doing that and that's yay looks beautiful um and that's basically uh when it comes to the the tokens and stuff- and please remember the disclaimer, the very beginning also remember.

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You know a note make sure that you say that this thing, so I'm going to say much, but basically, in order to create this new economy of trying to move things around, you know different networks um trying or letting people to uh enable this possibility, uh for example, for example, to give you one of the uh interesting topics uh of how this can be used. uh Let's say we have a crypto debit card, um the way crypto debit cards work is very simple. You have some crypto and then you have a I have.

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You have an I-band, for instance right as well. You know uh here in europe and then you need to settle your crypto, which basically means sell your crypto and then credit your iban with whatever you know, fiat money there is, um and uh if you and okay, how many of you guys here have crypto debit cards are used.

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That's a lot more. Okay. How limited you are in a sense how many assets can you swap right so to top up your card? What is it let's say we're talking about uh if based world, so it's eth use the t use the c probably die what else right, so you know you're pretty limited um and it depending uh it depends on the well crypto debit card provider.

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um You um you're basically either limited to their network. um You know to sort of like their world where they want to keep you or you're just limited overall with the number of assets right you can use. So what I mean is uh typically, what are you used to top up your crypto debit card like eth, right or use dt or let's say you hold ether and then and then you swap it and then you use it, for you know to pay up your bills offline.

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um What we do is, um since you know we try to push things again, as I said as far as possible. So, for instance, we have a swap mesh, so all of a sudden, any liquid token on basically eth or any other l2 becomes swappable. So a very simple thing, but now you can whatever ape token that you have. You can use it. You know for the top-up, but what it also allows, for instance right you, let's say you live on avalanche.

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Let's say you live on whatever new network there's going to be tons of new networks and especially as more zk stuff comes in, there's going to be so many new different implementations, but in the end, whatever you choose again, you still come back to very specific problems that you have as a user right. So we're not talking from the business perspective. We're talking about the user perspective and, in the end, it all revolves around the money. So that's basically what we have you know help doing so now.

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Finally, getting back to our thing, so how the hell on earth we have something to do with. You know baselining.

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Well, so that's what I said at the very beginning. We try to push things. You know being permissions as far as possible. Now, unfortunately, the governments do not. Let us do that fully. What it means is that, for instance, something like a debit card is a regulated permission product. So basically, in order to offer services to the users, you have to be licensed, you have to be compliant. You have to follow specific rules, for instance, just the smallest one. You have to follow the gdpr rules. Everybody now knows the gdpr. Everybody knows know that.

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There's huge fines if you do not follow it, so how on earth can you provide? For instance, you know this service, but still what does it even mean to push the permission stuff? um You know further, what does it even mean if, if it's still a regulated product, there's nothing that you can talk about, you know of something like zero knowledge proof. How is it even possible? Well, let's take a look so the way the mover works is mover itself is a completely permissioned product.

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So what it means is that mover knows nothing about you mover stores, nothing about you, so mover doesn't fall under even the personal data protection. Why? Because it doesn't doesn't know anything about you, but then how does mover connect?

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You know you with the card issuer and all the information about your card that you offered so the way we do it currently and then again just trying to explain it to you is, for instance, when you're, when you're signing up or when you're coming back, and we don't know if you're signing up or coming back, we we have a very simple way of basically remembering you as a user. So, for example, you know you have the email and then you have your wallet address and then the combination of those things create a hash.

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So you know gibberish data. That means nothing, so it cannot be reversed. What it means is that, if you have for the hash, which is you know, can be a public thing, you cannot tell what your email is. So it's a one-way street, but by signing right so creating when you create the hash, with a specific address and specific email, you create this unique thing. So, okay, so now with this step, we know that there's a unique identifier.

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So when we see this identifier this the next time, you know the first time the second time we know it's either the returning user or not.

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Now, now that we have this hash, we need to share this hash with the card issuer. So let's say the card issuer is the licensed entity. So that's the one. That's actually sponsoring the uh basically the license to make sure that you know the card is issued under a specific name and what they need to know is okay, well, we've got anton and then here's the identifier, the unique identifier call it an id for anton so anton. Has an information anton has a specific iban.

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Here's the anton's information and then here's anton's hash. Now, when you come to us, when we create this hash, we send this hash to the card issuer. At this point we don't know who you are what you are. We have zero information value and we need to share this information with the card issuers, so the hash and ask them okay, well who's this right.

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So is this the new guy is this the you know the existing guy like who's this customer, and then they tell us that okay, well, it's a specific user right or it's a new user, and then you get into the new problem. Okay! Well, how do I make it seamless for my existing customers? As I said five minutes ago, you know web 3 feels, like you know, 90s, because of this you know basically bad user experience.

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You know you have to overcome all of these differences, or you know, difficulties just to perform simple things that exist like of blockchain. So now we get into all these different hoops and our you know, since we don't know whether user is new or existing or not. You know we have to follow through all this process.

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Now here comes the baselining.

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It just makes our life easier. That's the answer, but basically what happens? Is you sign up, so you create your account under whatever again local regulations are with the card. Issuer and again mover has zero participation in that process. We know nothing about you, but when the card issuer creates an account, they're also just dropping a proof. So you know they just dropped the proof. um So there's some gibberish data, so a hash again which lives on which can live on a public ledger. We don't care because you know.

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Basically, this data is gibberish for everybody out there and the next time that you as a user. You come back to us or maybe you are a new user. We don't know, we don't know, but then this entire process of you, um you know signing up. How do you access dapps, so um decentralized applications? How many of you guys have ever used adapt before in your life a lot okay? So you know that in order to authenticate into the dap, you need to authenticate with your wallet.

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There's many different wallets, but the beauty of the dapps is you have a freedom of having your own wallet, so it can be a ledger. It could be a matter mask, it can be a truss wallet, it can be whatever it is. I mean basically as long as there's a webtree provider, then you can connect any wallet and then you have the freedom now to store the money where you want, so you don't need to store the money in an exchange account. You don't need to store the money in.

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I don't know whatever. Whatever custodial wallet solution there is. You can keep the money where you want to keep them, but then, when you need to top up your card you're just coming to us, you are uh you're connecting with your wallet and uh you're, basically saying okay. Well, uh it's me. Here's my wallet and and then just by that hash we can actually check the base ledger and we can see that well. Okay. Well now we know who you are so now we can uh request the specific information about the user.

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So this is a very tiny thing, solving a very non-existing problem. We created just because we want to do things differently, so it's a non-existing problem, but it actually gives you a sense and a feeling that baselining can be implemented into very different things, and this is just one of the examples of how we used it.

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So now what comes next? um As I said earlier, we do a lot of different. You know we experiment with a lot of things. We experiment with nfts. uh We experiment both defy. We experiment with. uh You know, zk stuff. What comes next? um Oh sorry, that's a wrong slide. I don't know why it is. um We call this better card to be honest when, when I was thinking about this name, um zuckerberg didn't rename facebook, so I'm not sure if we should sue them.

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I don't know. Maybe they will sue us, um but it's called meta card so uh where we're going towards to. If now you know that we try to create things permissionlessly, we try to push this decentralization as far as possible. We are hard advocates on privacy and uh how to push the privacy. We want to make sure that now everybody like in all of the metaverses, you know everybody else, whatever whatever network it is whatever chain it is.

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We want to make sure that you can have your card and you can pay with it like in the real world. um So that's the idea of the meta card, and you know in a simple terms. Basically, what we're building and working on is a set of you know: extendable, erc, 71 contracts that live on different chains, connect to our infrastructure and allow you doing you know very cool things that you know.

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For instance, you know the zika stuff we took earlier uh we're also, you know, working on the self-repainting things, uh how many of you guys have heard the name: alchemix, okay, okay, okay, okay, I'll, tell you explaining you the idea, um let's say let's say you take a loan in your bank, so let's say you know you have some money in your bank account and you use that as a collateral. And now you take a loan from your bank for whatever needs. You know the business personal stuff and then what happens afterwards? Is that you?

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You know you just accumulate the fees right. um You know from the loan that you took so over the time. The fees accumulate. You know more and more, and you just have to pay more and more until you, you know, pay out. uh You know that credit cards, if you just pay uh the suggested minimum amount on your credit card, uh you will literally never pay off your debt. So it's designed like that because, well, that's the way to you know make money on you uh now crypto, as you know, over collateralized.

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So what it means is that if you want to take a loan in crypto, you have to provide a collateral which is larger so bigger than the amount of the credit you want to take in. But what it also gives us is that we now have this massive amount of collateral sitting there and doing nothing right. So what happens? If you, you know, put that into the yield strategies? What happens if that collateral? Now, you know, generates yield for you. What you're getting is that you're getting a self-repainting things? So imagine this!

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You have a bunch of crypto. You don't want to spend it, but you know you need to pay things. You know offline right, so you need to have something on your you know, debit card and uh and then what happens? There is what you can do is you can use your crypto as a collateral and take a borrower, so you borrow some credit in let's say: stable coins so use those table.

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Coins on your card, buy things, pay, rent, etc, but then the collateral that you had there that you deposited is now actually generating yield for you. So what happens?

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Is that, yes, you have an interest on your credit, but you also have an interest on your collateral, which is you know, making you money and then, if the difference is positive, so if the interest rate on your loan is lower than the yield on the collateral that you have, you are actually in profit, so over the time, you're literally slowly bit by bit but repaying your loan. So imagine this: it's like a it's like a supercharged credit card. So it's like a credit card that you use and over the time it repays itself.

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I mean that's like sounds like infinite money right, uh but um but it just gives you the idea of you know how far we push things. So, um for instance, this is this. Is you know what comes next when, when you know answering this question, uh I think that's it um and yeah, you know, that's it, um but uh hopefully, hopefully what I really wanted. uh You know for you to give you know to give you guys today is uh to give you the perception that uh number one crypt is not boring. uh Number two.

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You know there can be complicated things uh and uh you know we can make them sound, very complicated. Very you know cool, uh but in the end, all of this complicated things are here to solve. You know simple things um that we use. You know on the daily basis. uh We use you know human beings on the personal level. um You know number three is, um I would say it doesn't matter how crazy the idea sounds, um for instance like.

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Why would you have you know a crypto debit card that you can access through the service that doesn't have the information about you and just because it doesn't have the information about you or on you. You have to go through all these like different hoops, so that they can prove that they don't have any information on you like how the hell on earth would this be a viable business model right in the real world, but because, because we live in the age and, as I said, the very beginning, we're early, we have this time.

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We have the opportunity now to innovate, to change things. So um that's what I hope to bring you guys today that you know you're here for the dev connect you're here to hear about some crazy, stupid ideas so that you know okay. Well, that's so stupid!

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I'm definitely not going to do it so or you're going to hear in something like you know what I can do it better and- and this is exactly what I'm challenging you guys today, whatever you hear whatever, whatever you know application, it is whether that's enterprise focus, whether that's you know, retail focused, whether that's you know personal um things focus whether that's I don't know gaming focus nfts whatever it is, but there's so many unsolved and untapped opportunities that we can actually try and you know, work and look at the different angle.

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So um that's I think, that's pretty much it um and obviously, if you guys have any questions we have time, so we can talk about it now. um If, uh if you want to ask me about um you know something that I don't know, don't ask me those questions. um How do you know zero knowledge, foos, so baseline at first I'll check it and I'll come back to you? That's that's it. Thank you very much.

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Cool no questions, I love it. I got a question: um can you verify when you get a debit card? Do you get the debit card.

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Do you get the debit card um without showing kyc to anyone, or do you just show the kyc to the.

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Can you elaborate a little bit on that.

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Yeah yeah, so, um unfortunately, the world we live in, uh you have to kyc, um you know to to um to have this kind of service, but um there's a difference between the mandatory stuff and, I would say, unnecessary stuff. What I mean by that is, there has to be so. A card provider uh has to have the kyc information. You know on you, so they have to store it, but then there's a big difference of like who has access to that information who stores and how and they're specific entities that are regulated.

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And you know that's that's what they do right. So they provide kyc services. So that's how they receive your documents. They check it against. You know, government databases they check. If you're you know a good guy or a bad guy or if you are who you say you are. But then all we need to know is that you know it's a green light or it's a red light and uh we do not need to know.

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uh You know who you are what you are so the kyc provider will always have that information about you, that's what it is again current. You know regulations. I don't think they will ever change or you know, go back uh but again um so they hold it, they have it. uh If there's any you know situations, then obviously they can provide it to the necessary regulator, whatever it is, so always pay your taxes.

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Make sure you do that yeah.

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I have one question about this loaning, the money you know, let's say when I'm now selling my crypto. This is like taxable event right. I have to pay my taxes when I uh over collateralize my loan and then use this money to spend. I'm actually not spending my money. I just have a loan, so there is no tax right.

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You're, a very smart man, um I'm gonna the way I'm gonna answer. This is uh first of all, I'm not your lawyer. Everything I say is is nonsense, so please consult with professional lawyer, but I have heard the rumors that if you spend debt money then maybe it's not taxable.

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But again I don't know.

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Simple question: how do you plan to monetize this as part of your you know as part of your.

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Token and yeah yeah, that's.

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That's that's a cool one. uh You know, as they say right so when, uh when there's no fee for the product right, it means that you know you are the product. um So this is actually a good thing about crypto, because everything has a fee.

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Whatever you want to do, you know I mean vitalik even made the fees for the network right. um He doesn't. Let us do free things um so, uh basically offering these cool things, something that, for instance, nobody can provide right now, for example, um do you have a you know, crypto debit card that can offer you all this like swapping, and you know exchanging and everything?

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Let's say something called an avalanche, and you know you you do whatever things you need to do on that network and then, whenever you need to spend money offline, you know poop, you just natively kind of top up your card and do it and then that process of you know swapping can involve fees. So if we decide to turn on the fees, then basically you'll just pay the fee. To let's say you know, do this kind of stuff, because otherwise what you'll have to do?

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You can still solve this problem now right, so don't get me wrong, but what you'll have to do now? Let's say in my example: avalanches. So all right, so what you do now, because you'll have to bridge it. So let's say whatever token you have. You have to swap it now to uh the major ones that have liquidity for bridging. So now you swap your token to let's say you know eth right uh I'll enter version use dc. Then you bridge it.

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So you pay the fee once you bridged it, then you need to send it to an exchange or you need to send it to whatever custodial wallet that your service has. So it's also the fee and then once you send it there, it's also. How do they make money? Well off the exchanges right?

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So then, when they settle it, they also need to pay the fee and then who settles it because again a card provider, let's say, uh is not you know a settler of the transaction, so settling is that legal process of actually selling your crypto for fiat and then crediting the fiat to a specific either correspondent account or a specific iban of the user. So they also need to make the fees. So you know, every step of that process is where you pay fees. um So why not pay?

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You know that fee uh at the very beginning, because uh again, typically typically um crypto debit cards, the um they have, um they have what they have uh bitcoin, so they have like litecoin all that kind of stuff. But if it's eth-related, it's only it related. I think there's only two other providers that now support polygon, but then I have never heard of anybody, let's say doing anything like for optimism or for a bitram or for avalanche or whatever you know new network.

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There's going to be and there's going to be many new, like evm networks out there in the future. So.

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Cool, thank you very much guys. um I appreciate it.

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Yeah so I'll have our last speaker today in about five minutes, we'll take a short uh five minute break uh and then we'll have uh harry barron's on a co-founder uh chairman cto blocks move. So thank you guys be back in five minutes. Okay,.

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Well, hi, so I'm harry, um I'm director and cto of a company called power and mobility and we're building a platform called blocksmove and before I came, the whole slide set fairly big. So I was going to tell you a lot about how we apply decentralized technologies, to mobility and also to what speaks to our company name on integrating the power sector and the mobility sector by the sheer fact that a vehicle, an electric vehicle, is not only a piece of the mobility sector anymore, but by nature of its battery.

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It becomes part of the power grid and that opens amazing opportunities to basically revolutionize the way of mobility to make it net zero to make it carbon neutral. So in a nutshell, I was going to speak a lot about the purpose of our company.

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I decided to pivot a little bit after hearing the very interesting presentation by the colleague from consensus mesh, so I decided a little bit to focus more on the protocol layers that we addressed that we use in order to address the purpose, and then hopefully I will still have some time in the end.

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So our basic business proposition is: we want to make mobility plus the related services from the power sector, charging, etc also grid balancing, which is a big big, big problem.

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uh If you have networks with renewable energy to make that decentralized, which means cut out the intermediary, whose only benefit in this world is to basically be somebody that both parties trust and the user journey that should ultimately come out of this and it's a user journey and it's also a business journey, because the two belong to each other is very simple for the user journey, the best example and that's the benchmark for all use of services across a wide ecosystem. It's roaming, each of you has a mobile phone.

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Each of you has a sim card, I'm just positing that, and you don't even think about when you go from country to country, there's a service provider, picking you up delivering you the service, it's completely seamless, you don't know about it and nobody else. Chases you for the money, it's all handled in the background by b2b. That is how services should be consumed. Roamed you get on board at once. Whoever onboarded, you keeps the customer relationship which is important.

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You don't want some big aggregator coming in and swallowing the relationship twisting the whole economic balance and extracting 20 of revenue from you. You want to keep your customer in doing that, and everybody should be keeping the customer and on the back side of it, on delivering this service. What you want is you get your money because you're delivering the service- you don't know this customer, so you want to get your money and this being low margin business. You can't have manual operations. This needs to be totally totally totally automated.

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So that's the basic vision behind this. Okay. So there's more than 2 000 providers alone in europe. This is not even worldwide alone in europe being active in the mobility industry and mobility is essentially I'm not sure how you're moving in amsterdam, so mobility nowadays used to be. I used to be the generation still my father more so you buy a car and that's the mobility and you buy the car in cash and that's about the end of mobility. Maybe a train ride every now and then now.

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This is a very, very fragmented story, so in amsterdam you've got. I don't know how many mobility operators dion might know. My guess is 10 to 15 and in every city. I go to it's the same so and it's very hard for these companies to achieve scale unless they are uber or my taxi, by which time they have accumulated an inordinate amount of market power and basically become rent extracting monopolies, because it's very low margin, business.

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Just that's something to understand power uh charging power and delivering mobility service is not micro transactions, it's mini transactions and it's very low margin. Public transport is the only countries in the world that are profitable. There is hong kong and japan. Nobody else has ever been managed to be profitable in public transport, government subsidized and the mobility operators that you see out. There they're basically burning silicon valley money, but they're not profitable.

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So we are now whoops go back here so, and we try to address this by basically providing a network based on decentralized technologies that each that operators can get together and form something- and that's about the end of the pitch here- that we liken. We we compare to how the star alliance works.

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What's the star alliance, it's I. I used to be a frequent traveler, not lately anymore, but it's an alliance of airlines and there are fierce competitors, so united airlines is in there, lufthansa is in there and air china is in there. That's the example. I always do so outside of their respective home markets, they're fierce competitors, but they happily and friendly, get together in the star alliance, allowing what each one of them and I'll start with lufthansa each one of them can sell their customer ticket.

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So lufthansa is selling me a ticket where I buy a ticket from frankfurt to new york, to los angeles and from los angeles to shanghai.

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I will get this ticket labeled, lufthansa, with a lufthansa flight code, lh whatever, and the lufthansa keeps the customer sells me a product that goes vastly beyond the assets that they have vastly belong to landing rights, but they sell it to me as if they sold it now. Why do these companies two companies do that lufthansa is fairly easy, as I just said, they keep the customer and they're selling me something that's beyond their assets.

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Beautiful right, they've just widened their their products without uh deepening their balance sheet and without needing the assets for this beautiful. Now. Why does united airlines do this? Well, that's simple as well right. The seat that I'm going to be sitting on flying from new york to la is going to be a seat that they did not sell to their premium sales channel. It's going to be a seat that was vacant, so they are now filling that vacancy they're getting utilization, which is core in the business at zero cost of acquisition.

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That's beautiful, that's essentially 100 profit, plus the beauty of it is united airlines keeping their own customer keeping their own channels can do the very same thing, so I might be sitting in an airplane next to john doe and john doe is doing the same trips that I'm doing he's holding a united airlines ticket in his hand and I'm holding a lufthansa ticket in my hand all right.

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That's basically what we do based on decentralized technologies and then now comes the clue here um we use we, you need to differentiate when you do decentralized business, which is crypto cryptographic in nature and partly decentralized I'll get to the partly decentralized.

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There is very often the misconception that blockchain is perfect, especially you know you hear all these dreamers coming along supply chain, supply supply supply chain, blockchain can save supply chain. Well. Supply chain is a physical problem. People it's a problem of us, ascertaining business facts, cobalt, minds whatever it may be, that don't that the cobalt doesn't switch gets switched that whatever you're stating to be a fact is truly a fact, because once you put it on a blockchain, it becomes immutable. Blockchain is a perfect record, but it suffers from the in out problem.

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I can state the moon's a green cheese and I just sold it to diane, and if that, if I put that on the blockchain it stays on, the blockchain doesn't make it true. So how do you address physical truth? Business truth, we're very simple: you need identities, real world identities. In order to be able to do that. So, let's get back to the very basic nature of every single business transaction. You will ever do online or not.

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How does it work and it gets best described by the simplest form of achieving it? Harry offers deon a you, can have my car over the weekend for 100 euros and you fill her up when you give it back. Is that okay with you down deon says: yes, we shake hands, and all we need is a witness in the room. That is a legal contract. We can both take to court. That's a valid contract and everything is settled in there. So now, let's translate that into digital into decentralized into the crypto world.

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There's a new set of beautiful protocols out there they're called decentralized identifiers. A did is essentially very similar to url it's a uri to be totally precise, but that's hair splitting. So it's very similar to url, which you give to parties as an identity. So you can give an identity to a person. That's obvious! You can give an identity to a company, that's almost obvious and you can give and that's where the huge promise lies. You can give identities to the billions and gazillion of devices out there. And now you have an identity.

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An identity is always associated with a private key public key pair. It can be anchored on a chain, but, most importantly, it is blockchain agnostic, so it lives it lives outside of any blockchain outside of any implementation space.

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And it then, what you can then do is identities can sign certain credentials, they can issue a credential and they can accept a credential and they can counter sign it. And if you look at the example, I just gave you which is based on constant agreement.

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What you need here is very simple, now digitally speaking harry with his did harry company, with his did, presents an offer to a dion digitally signed, so harry did sign this and dion with the terms and conditions that are in part of what dion now sees counter-signs it both of the identities, and this is where, in business world at least the mover guy, also said it. We need kyc, it's not purely decentralized. It cannot be because governments do not accept perfect decentralization.

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Each one of the identities will need to have been approved by a respective authorized party could be kyc could be the bank could be. The government in terms of a company could be done in bradstreet could be the lei, the legal enterprise identifier or the like, and for devices there's other organizations for cars. It's the vehicle registration authority that will take a vin, and, if you give it a did, we'll marry that in what's called in cryptography in a ceremony which is always needed, which is always physical by the way.

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Kyc is nothing else, but the bridging of the gap between the physical world and the digital world. That's called the ceremony in cryptography and it is needed to establish the physical identity and only once you have established the physical identity and connected it to the public key to which you hold the private key. Can you now conduct digital signatures, digital transactions, but they can be traced back to your physical identity, so we solved the green cheese problem, which means what how do we now need to conduct business? It's fairly easy all.

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I need, and it's a very primitive form of what the baseline protocol does at a much more sophisticated level, which is why we slowly slowly in our journey, are converging into this direction. All you need is very simple. We need to agree on the business fact on the terms and conditions this gets signed and the blockchain acts as the notary simply as the time stamp and the witness that's pretty much most of what the blockchain does at that point in time. It just bears witness to these.

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However, there are documents legally speaking to this consent agreement, which is signed and counter signed, which constitutes a legal document. It can be printed out and you can basically look at okay. What signature algorithms? Are these guys using? You get yourself the library for that? Okay, this the id that the id needs to have a credential from a trust authority which ultimately is originating from whoever the government says it must originate from, and so I have a signature here from a did that claims to be harry harry has been kyc and so on.

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So this is a business fact. Then you put this business fact on the chain and you don't need this so-called smart contract layer, which I have never seen realized. Yet I have yet to see a smart contract. There's a lot of software on ledger out there. Nobody has ever done ricardian contracts legally valid, but it solved using. These did layers solves that problem, and you only need the chain then to be witness to that.

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Then you need a small, smart contracting layer that basically counts the units that are being consumed, especially if you have a fully automated vehicle with a built-in telematic device that then has an identity. So it's called a hardware wallet in this case, which is basically a hardware.

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Wallet is nothing else, but whatever you hold in your mobile phone put into a device such as a vehicle or such as a charging station, which then can send you data and sign that data with the identity given to that device, so you can always trace it back to that device and no other assuming the ceremony by which the identity was given, has an unbroken chain of custody and an unbroken chain of proof.

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So this did layer is highly highly relevant in making something like blockchain useful in an enterprise level, because in an enterprise level, ultimately everything- and this is also something which is very important for pure blockchain people- to understand. Blockchain is very much the opposite of accounting. Blockchain com is based on the concept of possession. I hold it, it's mine, no crawling back, no crawling back, that's it! I've transferred it. That's it. The chain takes care of that.

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Business is not based on the concept of possession.

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Business is based on the concept of ownership and I'll, explain why that is very, very important, but first of all what it means is for every monetary transactions utxo whatever, which goes from a to b. You do need to have a business transaction with an invoice being on the other side and the two to be have to be linked very simple, which makes it very very clear. I pick one of you guys, let's assume I can afford it, give me your bank account number and I transfer half a million dollar to your bank account.

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Do you think you have money now? No, you have a hell of a lot of a headache, because you will never ever be able to touch that money. People will come. Knocking will ask you where's that money come from. If you say I don't know what you have half a million dollar on your account. You tell me, don't know you better come with us unpleasant.

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Thousand us dollar and get them out of your system and thank god that and hope that this doesn't happen again. That shows you how quint, essentially blockchain this world cannot transfer money. You need proof of transaction.

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And that's how I count my money and that's how I report my money. That is real money and anything else is not so it speaks to the concept of ownership. Ownership is what is legally recognized as being yours. Possession is what simply happens to be in your bank account those five hundred thousand us dollar. You are the processor of them, don't be happy about that. So from a protocol perspective and a business perspective, this is highly important and this is what we base our whole platform on.

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So I'll get so there's two layers now of protocols that come together, and this applies to any business. You got this whole did so identities credentials. Digital signatures always connected to an identity that has been verified, so you can relate to it through kyc through kyb, know your business or through know your device, so you can always trace it back. Then. Those parties agree on something which happens by digital signatures.

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This then gets witnessed timestamped notarized tested baselined, you name it, then, in a fully automated world, you count the units that have been delivered. If you have hardware wallets in your devices, which I sincerely hope will happen soon, we are working on with a university in germany. Now that is putting hardware wallets into little scooters, so we're moving there.

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We did something similar with riddle and code when I was still with daimler a while ago, it's by far the best way to organize iot or device driven asset driven logic, and then you basically create and now comes the big time we're all in this for money. You need to do the settlement and, yes, you can transfer tokens if you want to, if you're happy with that, but that is not good enough for the real world. You need to leave double entry bookkeeping.

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There is simply no other way, so a distributed ledger to shift a little bit from blockchain to a pseudonym for it a distributed ledger such as koda will do the job on a sub ledger on the transactional level, but- and this now brings us closer to con circle, to unibride and to the baseline protocol. This real money of the real world where the tax man comes and the tax man is the most powerful person in the world.

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Believe me that my father told me, and he was serious, he's not afraid of the mafia, he's not afraid of some street crooks. He is afraid of the tax men, and so should we all be. So you need to take that very seriously and the taxman counts. Your money, according to what in big enterprises, is 80 in the sap. Let's not be unfair, there's other erps as well, but it's only counted there and no, where else? So, if you want to do business for enterprises, you need to cater to that.

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So, yes, you need to be decentralized because it's simply easier, more efficient. It scales beautifully on a horizontal level, but you also need to stick to two decentralization points. Identities come from the government. Each of you has an identity document, most probably in your right hand, pocket in the wallet, but that is given to you by the government. It is not by you it's not by your mother, it's not by your father. It's given to you by the government and if you check your passport, that doesn't even belong to you.

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So if you want to buy a house and go into a legal agreement, it doesn't matter who you say you are it matters who the government says you are, and that will be the only identity ever approved, which means there is a route of trust, there's simply no way around it. Every single car that you see out there has a vehicle identification number, of course, there's a centralized organization.

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It's the vehicle registration authorities and european organizations that keep track of that and they assign those ident there's simply no other way. So that is not decentralized, but that's just how it is and then, on the other side of it, companies pay their tax. Do their investor reporting go to the stock exchange.

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It must be do that, based on the books so and the general ledger how this big, humongous piece of the sink of truth is called, is centralized. There's also no way around that so and you need to be able to bridge between the two. So we use the identity triangle- human component device, which is generic in itself, pure crypto, based to establish all the physical facts, and then we have the blockchain and the distributed ledger, and all of that, these nice protocols in the middle and all we do. We do it for mobility.

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We do it for the power grid. We could do it for hotels, it doesn't matter containers, it doesn't matter anything that has access control, check in and check out can be processed in this manner. All we do is identification, verification contracting, as in constant agreement and last but not least, put the bookings. The money is secondary. Believe me, the cash is secondary, put the bookings where they belong, bookings being accounts, receivable accounts payable and those and that's the magic towards corresponding accounting.

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Current accounting accounts, receivable accounts payable, at the very same time, fully consolidated across the whole ecosystem. If you talk to an existing accountant, they will tell you that's not possible, because you need an invoice in the middle, but a distributed ledger also known as blockchain. Does that which means the company that owes the money accounts payable and the company that will receive the money accounts. Receivable will have that booking in their book in their books.

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At the very same time, and because of the magic of consensus in consensus, we trust they will agree that this is fair and square and then settling that is peanuts.

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You can agree on daily weekly netting off whatever you bring a really low margin payment operator who handles that for you, that is really really peanuts at the end of the day, all right, so that is then how it basically, the idea, identifiers, then actually very little of smart contracting in the middle, the blockchain, essentially just being a glorified serialized notary message, bus whatever you want to call it, which is why I believe, ultimately, we will converge on something like the baseline protocol here and then it needs to go out to the sap and, ideally right now we are working with the colleagues from con circle to do that for us, so we have a direct con circle adapter that takes us from our blockchain with the money booking we do in corda, not in ethereum there's various reasons for that, and then it goes via the con circle adapter into sap.

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That's all nice and well, but that's one sp one basically spoke in what should be a more general approach, so um in total there is now two. I mentioned two centralized parts, so we have whoops. That is not the way I wanted to do this one two here. I need to click on this one, so we have here sap, which we call ledger to erp, which I just mentioned. Those are our partners by the way so ledger to erp, which I just briefly mentioned, but then, of course you also need the opposite way.

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We call it iban to le bantu ledger so to handle cash and being able to convert the cash internally to something called internal value units, which is it's really not a stable coin, because it cannot be traded, but it is a 100 representation of money that is issue that is in the hands of a bank. This is we're outsourcing the regulation for this, so in order to stay nimble and fast, we stay away from being regulated ourselves. So when it comes to this very, very, very harsh regulation in the banking industry, it's much easier.

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You go with a banking partner. You have the banking partner legally push the button when an internal value unit is being generated, it will be classified as e-money. That's pretty clear because we use it to settle liabilities across the partners in the ecosystem. So that's e-money right there. So the moment we do this technically it works, but government is government, so that'll not work. So in this way you have presented an ecosystem that is nice and usable for enterprises. Yes, it's decentralized.

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Yes, it's blockchain, but they don't need to shift mindset, and this is what this whole presentation is about. Yes, we come from the decentralized world because of the possibilities and the power it puts in the hands of the people that know how to use it, but it shouldn't be a pain and it shouldn't be a religion and it shouldn't be something I need to convince my business partner off.

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My business partner is count, is doing their business they're, counting their money and that's all they should do and that's all I want them to do, which means a normal company is using fiat money and putting their money into iban. Yes, they know what tokens are and in their playful days or playful hours, they might do an nft project here in the big enterprise nft project there, but it's not their core business right now, so you better make it easy to handle their iban and they do keep their books on the sap side.

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So you better make it easy to basically put push stuff into where they actually count the money all right. Now, how do you generalize this? You generalize this and remember the part about the digital identities and the digital signatures. Now, let's come to a very, very crucial part that comes with that protocol. It's called verified credentials.

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A verified credential is essentially a document that has been signed by and legally identified, parties, the closest and actually it's not as cryptographically complete, but very close way of thinking about it is docusign.

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So if you use docusign or doc, send or hello sign in fact, you're trying to do something that has been solved in a very elegant way, the by the did standards by the way, those are stan they're being standardized by the world wide web consortium, which are the same people that are standardized urls and uris.

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So and you basically now you can create credentials and a credential is a statement that me issues. I confirm with my digital signature that you have a driving license. Obviously I can anybody can state that, but that's useless. So if I state that for you to be able to use it, I as the trust provider here must have somehow and credentials to my name that ultimately entitle me to verify uh driving license. But once that is the case, then we have a verified credential, which is called a driving license.

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It gets better than that, if you think about what a ticket is a ticket in our world, if I think crypto has two ideal ways of representing it and we're both working on both actually an nft, if you think about what an nft is, it's nothing but token with a serial number, that's about it. So a token with a serial number and a ticket with a serial number very neatly mesh on top of each other, but that is completely not interoperable.

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The beauty about this did protocol is they're completely interoperable ontology has their set. Ethereum has their set, webdid doesn't even need blockchains, so the corresponding credentials can can be carried with you, decentralized in your wallet to be presented and autonomously parsed. It's completely self-contained. It says which signature algorithm you to use. Those are all open source use. The signature algorithm verify the identity that signed it, and then you can believe this statement so break it down, and these are the three major things so ticket ticket just basically means you have paid somebody.

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It could be a a subscription right as well, but it means that somebody remember the roaming part. Your sim card essentially becomes a verified credential. Why? Because you were presented as a verified presentation, that's a little bit now tech talk, but what it means is somebody can challenge you for it. You present some crypto proof and then that somebody knows okay, you bought your sim card from t-mobile and t-mobile, says you're good for this level of service all right here I deliver the service afterwards, because I got proof that this credential was presented to me.

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Then I go with that plus, and this comes with a smart contract with my call detail records with my billing records, which I also sign. I present that to t-mobile and t-mobile. No questions asked. Give me your money. So tickets are crucial. Tickets are basically these access rights. You pay me, I give you this credential and that is self-contained and you're on that chain. I'm on that channel. I don't even use a chain, it doesn't matter. I can verify this ticket legally.

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Then invoice is the same part. Then, once I have an invoice what's an invoice actually, an invoice is that whoever delivered the service based on the original content agreement. Think of that as an attachment now presents that this is now the invoice to be paid and in the work, for instance, we're doing with the energy web foundation and 50 hertz in the balancing of so in the power grid. They go one step further, so normally in normal inverse.

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As you know, it is, it has my signature on it and then it gets approved on your side if you're a company and okay where's the contract for this, let's check this etc. If you look, if you look at online applications, you actually present an excerpt of this invoice to the user and the user will counter sign it.

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The moment you have that you have self-contained digitally verifiable cryptographic, proof that this invoice is legally valid. You can sell this. It's real money because there's an industry called factoring that makes this real money. So all of a sudden by this simple digital signature, no tokens involved.

F

You have money in your hand, field money, legal money, nice money at least no headache money and which you can now sell to a factoring company, depending on who you are they'll, take two to seven to ten percent of your cut, but they'll pay you right now: cash legal cash on your hand! So- and you do this and you haven't even involved blockchain so- and this is a very generic format- so add a little bit of schemata behind this, because, obviously now do I call the field invoice, name or name of invoice c.

F

You know all this kind of mickey mouse, little details that come in the middle of beautiful technical solutions, but can produce endless pain. You need to somehow address them. People have tried many many times. I have my phd on this using ontologies and semantic blah blah blah on it. It never ever works. I've never never seen it work, use schemata and be happy that works so put nice schemata between your business participants. Let them agree on. We use this schema. This is the name of the schema.

F

We use it's reference to schema.org, and here is our sub classifications thereof. Can we please agree that the verified credentials that we're using follow the schema? Yes, we can agree on that. So already you got at least on the key side of the key value pair. You don't have any more issues.

F

You cannot prevent a total idiot of, if he's insistent, to make a mistake, but you can pretty much eliminate the most obvious mistakes, and with this you now have the ability to express self-contained business documents that are legally valid, that are monetary, valid and all you need now- and this is what brought us from our journey- we've been working on this already three four years now we originate in daimler mobility, where we incubated for three years, then we took a management buyout bought it out, went through outlier ventures, etc, etc.

F

So there's a whole bunch a whole lot of time behind this already, but now that we're approaching basically, this level where it now gets all right, plug our partners together. The most obvious way to use this now is to use something like the baseline protocol as basically the simple thing in the middle, where I just throw my verified invoice or I throw my verified ticket in and then it basically gets transported by.

F

What to me is essentially a consensus, powered message: bus gets transported among the individual parties and we baseline it, meaning we anchor it and we timestamp it there so that indeed, yes, I issued this ticket on the content of the ticket. I don't need any crypto anymore. I don't need a blockchain because remember the ids verify credentials digital signatures handle. All of that. All I need is timestamps and proof of the fact that two parties have looked at the same self-contained document and there's a witness here that says both parties looked at this document.

F

We don't need proof for the document. We don't need proof of the ticket. We don't need proof of the invoice. We don't need proof of the identity. I just need the witness that says they have both consented to this. That's all at this point in time. The consent- I can even do without it, but I need this timestamp, that's essentially all you need left and then you got a framework.

F

Think of it as a pattern or framework to basically conduct business without any vendor login without buying any license without using any predefined channel, because, except for the baseline in this fact, which then is one predefined channel the cryptographic part of it and that's the beauty of these verified credentials and the dids they are completely channel agnostic. To put it really to focus, is I can print out a verified credential hand it to you, you travel with it, you scan it or you type it off with oc.

F

You scan it with ocr, and you can now continue working with that with whatever software or whatever mechanism you have, and it will continue to be valid and it will continue to have the same semantic information. So this is essentially something where we believe these protocol layers. They need to be connected on the most efficient way possible and, to sum it up, the what we're proposing here is use the ids and verify credential for anything. That's physical fact use the digital signatures that come with that and the mechanism here.

F

The beauty of it is self-contained, so you can carry it from any operating system any network. I consider a blockchain, essentially a big operating system, so you can take it from any operating system to the next and it is valid. It can be parsed, it can be converted and you can act on. It then use your blockchain for the simple. You know business logic.

F

You know counting the billable units and making sure that what you've collected has not been falsified in the process of aggregating them, then use something like a distributed ledger to hold intermediate state among the parties and then use something like the baseline protocol to pump it into where the truth will ultimately be, which is sap and their competitors, which is not decentralized, and if and when you do this way, and the beauty of this is, if you look at it most of you are techies.

F

I believe these protocols- they are nice, they're, lean, they're easy to handle. Most of this is green field, so you don't get flooded by 500 megabyte of framework download before you've written as the first line of code. You can basically start getting creative now, so it's still young, so you can be very effective and writing these systems is counter wise to the intuition much cheaper than doing something you wouldn't even call it similar, but doing something in the same area based on existing systems.

F

Existing process will prove much more expensive than do using these protocols because they are so lean and they're, so efficient and there's so little overhead involved that actually the lines of code. If you look at these systems, you're talking single thousands, maybe 10, 20 30 000 of code, then you have written a humongous system already.

F

If and if you compare that, I mean look at any kind of legacy system, you will usually not see the lines of code, but it's hundreds of thousands or millions of line of code, and it's only secure within the small bucket that it is running in and even within that bucket is probably not secure.

F

So this is essentially what I'm trying to position here. So I have three minutes I'll. Basically, just leave one slide open here anyway, the time's not here, which is one of the most exciting use cases we're working with with energy web foundation and one of the four transmission service operators in germany, where essentially everything I've been I've said here, gets applied to roaming, but this time roaming on the charging station, but roaming without in in the charging industry, you got something called emsps electric mobility service providers.

F

They are the people that make contracts with every charging station operator. They aggregate that again the aggregation with all the disadvantages that bring put the app in your hand, and then you can charge so the power producers, the ones that really deliver the service hate this. Obviously this is low margin, business and in comes this middleman aggregator and takes a big chunk of these already low margin business.

F

Nobody likes them, but they are very successful so far because you need it now, based on what something called the open charging networks, which is now part of the energy web foundation, which has its own protocol, called the ocpi.

F

You can now produce the following, and I believe here in the netherlands, everybody really is environmentally conscious. So I have an electric car. Now, that's beautiful good, so the second half of the emission cycle I have solved, I'm not emitting them, but the power that goes into my electric car. How is that is that brown? Is that black? Is it whatever? I want pristine green. Obviously, so I want to make sure that wherever I charge I charge green. So what I do I find myself an operator in germany, I believe in the netherlands.

F

You also have them. They only have wind power or solar panels. I make my contract with them. They sit somewhere in the nowheres in the north of germany. You know a thousand kilometer away from where I would be charging, but they produce electricity, and one thing is beautiful. About power, it's fungible, an electron is an electron, so there is no such thing as green electricity or not. There is only balancing, and that is where what's called the transmission service operator comes in. They are doing this magic counting so based on again the id.

F

So I will get my contract with this power operator, which states I have a verified credential. Now I come up to the charging station. I present this verified credential, my verified credential is verified and then the cpo the charge point operator delivers power from whichever cable they have. Whoever feeds the power in there most. Definitely not. My operator feeds that power into my electric car. Then they count the time series the ocpi protocol brings us. I get that signed a billing record gets issued. We do our magic here then.

F

At the end of this, however, that's where the true magic is. If all of this can be proven and verified and the identities can be submitted, and this invoice is really self-contained, then the big power operator, the backbone of the grid, they're called transmission service operators. They do the balancing. So what they do is I just charge five kilowatt hours. They just make it that way. It's called the virtual balancing cycle, virtual ability, so what they do is they sub? They say all right, you lift blink, which is the operator you have just.

F

You need to put five kilowatt hours into my network, a thousand kilometers away from here. You cpo, you have just provided five kilowatt hours and we make those two five kilowatt hours, the same because it's fungible it's a matter of accounting for it and it works and that's how the energy business actually does work. So, even though it might seem counter-intuitive what does power and mobility and the electric grid and charging have to do with any of this.

F

I hope I managed in the last second that I still had to point out that the protocols underneath that are exactly the protocols that I was trying to explain in those 40 minutes. Thank you.

F

Any questions or no questions. Okay, then.

A

All right, hairy bearings, ladies and gentlemen, whoo.

A

All right, so I believe now is the start of our happy hour hours. Yes, two hours of happiness, all for you guys and then from six to seven. We will be uh streaming the baseline show in this room and the other room in this room in this room. That's where we're streaming the baseline show. uh We welcome you to come and watch it. While you enjoy your happiness uh as well you're invited to uh join. uh Maybe even you know, share details about yourself. Ask questions.

A

Anything I believe will be online with uh john wolpert at that point in time. So thank you and be happy.

D

Without you, so we're lost.

D

I'm so lost without your love. Won't you confine me.

D

I don't think I can control it.

D

Or am I stuck in the moment.

D

When you looked back.

D

You said you never met a girl like.

D

You're beautiful.

D

You're beautiful.

D

You're beautiful.

D