Filecoin Filecoin, IPFS, & libp2p Ecosystem-WG Updates - June '22, 20 Jun 2022

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From YouTube: Ecosystem-WG June 2022: Deep Dive on EtherSign

Description

The team behind Ethersign shows how they’re using the collective power of blockchains and the resiliency of IPFS with web3.storage to build revolutionary tools for small businesses globally.

Learn more about the Ethersign here:
https://ethersign.github.io/

The Ecosystem WG is a collection of 100+ people across 6+ organizations that are passionate about the long-term adoption of Web3 and dedicated to growing the Filecoin, IPFS, and libp2p ecosystems.

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A

Thank you very much, so my name is indranil and I lead marketing at uh ethersign. What we're essentially doing is uh creating a simple set of financial tools for smes across the globe. To use uh you know, blockchain technology for the first time and we're using uh you know: ipfs storage. We have three storage for for this uh now. Why we're doing this is basically because we see uh that there is a major uh issue out there when it comes to sme development.

A

So if you look at the sme infrastructure across the globe and when I say sm, it's essentially small, medium and enterprise, you know medium enterprises across the globe. There is a shortage of you know, funding at specific, specific pivots. So when we talk about pivots, it's essentially where you know the business wants to grow or they they want to. You know, hire new people. um You know they're, not really getting. The right kind of you know numbers going, because the traditional uh finance options are limited and that actually is a big problem.

A

So so world bank, imf, they're all talking about this thing and that the specific numbers to to highlight some of this as well, but essentially what we're doing is we're creating some simple tools for people to look at, and uh you know take this forward from there. So I don't know if you can still see my screen. Let me again share this uh yeah, so the problem statement is that, since you know, small businesses have a specific problem in business figures and we are creating uh some simple financial tools for people to get access to.

A

So we start off with specific tools, like you know, creating digital signatures, creating their profile uh in a crypto wallet and verify the on-chain transactions via the wallet um and also uh you know, follow up with a set of other tools where they will be able to monetize the templates. um You know that they upload so, for example, there's a business owner who has uh you know access to a specific template? Let's say somebody wants to hire a you know: trucking company or wants to hire. uh You know person remotely anywhere in the globe.

A

The web two alternatives today would charge a huge amount of money to do that right because they will have to pay a certain amount of service fees to be able to do that. So what we're doing is that we're allowing people to get access to tools where they will be able to do digital signatures to get people. uh You know, via you know, to hired by the contract. uh Do simple business trade uh from anywhere in the globe using the crypto economy.

A

uh The next few tools that we would launch is uh contract, template library and the contact. Template templates are going to be used, um stored and used by using the ipfs system, and this can also be monetizes, because one person who uploads a specific template will be able to reuse it. uh Somebody else wants to use that template they'll, be able to repurpose that every time and the person would initially um you know uploaded. The template will be able to.

A

uh You know, earn certain amount of money as and when uh the template is repurposed every time, and all this is happening via the smart contracts. um The next uh you know thing that we're working on is obviously going to be a escrow system. Where you know using a crypto, crypto economy.

A

Somebody will be able to do exactly what they're doing right now in the web 2 ecosystem, but then using crypto to be able to do it and um and and then also follow up with the d app marketplace as we move forward where these smes or a solo prana will be able to access defy uh as financial options.

A

So you know if they have a specific amount of crypto in their holdings, they'll reuse that stick that and basically go and apply for a loan and use that for their business paper, and I'm now going to also uh you know, introduce brooke into this conversation. Who would uh you know deep dive, furthermore, as to how we're using the ipfs system in general about this as well brooke over to you.

B

Yes, everybody thanks thanks a lot for having us today, so we really believe in the the vision of distributed uh technology and also just distributed ownership of data, and um so that we've we've architected and built this system from the start. With that in mind, so what we have right now in the store is a mobile app that exists on your phone and we use the blockchain for signature transactions. So um I proposed something to you: you rejected it. You accepted it. You signed it.

B

I counter signed it all of those sort of events get logged into the blockchain, which is immutable and creates a record of what exactly happened, and then we we store the actual contract or the agreement that was made between people in ipfs and we referenced that from the blockchain. Now.

B

All of this is encrypted uh everywhere, it's encrypted, but really this is a very distributed system, because the data all of the data exists either on on your phone in the blockchain, connected to your wallet or in ipfs, that's connected to the record in the blockchain, and so it's a very, very, very distributed system and right now it does agreements um in pdf format. Can you go to the next slide? Please, internal.

B

What we're working on this summer is actually in janelle, touched on it, but the ability for people to upload templates so now that we have the ability for a business owner to send an agreement to someone what are they going to send, and so we have to give them um the opportunity to download a variety of templates.

B

These might be anything from ndas to sales agreements to lease agreements to whatever they are and on the other side, we allow people to upload those templates and when they do they're still in ownership of it, because it's still connected to their wallet address and when one of the users downloads one of those templates and attempts to use it or uses it.

B

They'll pay a fee and a part of that fee will go back to the person who created it directly and we have no hand in this once we produce the software and we put it out there, it all just happens automatically because it's all written into the blockchain into the smart contracts.

B

So we really see a lot of promise in this and what this will allow us to do if it works, it will allow us to amass the the largest database or largest repository of business form templates in the world, because, right now you have business form, template libraries but they're all localized they're, either in the united states or in western europe or someplace like that. There's not a lot of business form templates in places like honduras or el salvador or central africa, and by empowering people to actually generate revenue.

B

By uploading these templates, we can create a flywheel effect that will grow that template library as large as we need it to be. Our vision is that if you're a business owner anywhere in the world- and you need a form, you can come onto ethersign and you can find that form download it and send it to whoever you need to to get business done faster and so we'll be launching the business template feature this summer.

B

Yet, right now, as we said, the e-signature stuff is available in the store in the ios and apple uh android store, and the template stuff will be ready by the end of the summer.

B