►
Description
En esta ocasión tenemos el privilegio de escuchar de la propia voz de nuestro invitado especial, Baltazar Rodriguez quien es Senior Architect, Blockchain Engagement Leader and Technology Evangelist en IBM lo que es Hyperledger Fabric y los conceptos básicos de la tecnología Blockchain.
https://www.meetup.com/Hyperledger-Mexico-City/events/271185983/
----
Hyperledger – Open Source Blockchain Technologies
Hyperledger is an open source community focused on developing a suite of stable frameworks, tools and libraries for enterprise-grade blockchain deployments.
It serves as a neutral home for various distributed ledger frameworks including Hyperledger Besu, Fabric, Sawtooth, Indy, as well as tools like Hyperledger Avalon, Cactus and libraries like Hyperledger Aries, Ursa. Learn more about Hyperledger projects: https://www.hyperledger.org/use
Case Studies: https://www.hyperledger.org/learn/case-studies
Training & Certification: https://www.hyperledger.org/learn/training
Tutorials: https://www.hyperledger.org/use/tutorials
Webinars: https://www.hyperledger.org/learn/webinars
Events: https://www.hyperledger.org/events
Vendor Directory: https://www.hyperledger.org/use/vendor-directory
Subscribe to the Hyperledger Newsletter: https://www.hyperledger.org/newsletter
Follow-us on Twitter @Hyperledger
Learn about Hyperledger Membership: https://www.hyperledger.org/about/join
#Hyperledger #HyperledgerMeetups #Blockchain
A
In
fact,
I
am
going
to
touch
on
a
little
of
this
within
the
presentation
on
a
topic
that
has
to
do
a
little
more
with
a
business
topic,,
but
also
before
starting,
I
would
like
to
introduce
myself
to
you.
I
work
within
IBM
de
México..
I
am
a
senior
solutions
architect
within
IBM.
Additionally,
I
am
the
leader
of
the
practice
of
block
change
within
ibm
de
mexico
and
the
reason
why
I
approach
the
subject
of
block
change
is
because
all
my
life
I
have
been
a
fan
of
cryptography,.
A
In
fact,
good
cryptography
and
technology,
I
learned
to
develop
systems
when
I
was
nine
years
old
to
put
it
in
context.
At
that
time,
the
pc
did
not
exist.
We
are
talking
about
originally
learning
in
large
teams
or
texts,
but
since
then
for
dedicated
change
using
technology
to
transform
the
way
business
in
mexico
in
different
parts
of
the
world,
It
works
and,
among
so
many
comings
and
goings,
over
time,
one
of
the
places
where
I
had
the
opportunity
to
combine
for
the
first
time.
A
A
Not
only
the
tax
authority
to
be
more
efficient,,
but
above
all,
to
look
for
mechanisms
so
that
citizens
could
also
be
much
more
efficient
and
to
make
it
easier
to
file
a
tax
return
than
it
had
been
before,.
And
the
curious
thing
is
that
much
of
this
journey
of
transformation
begins
primarily
with
the
use
of
electronic
signatures,.
Then
those
electronic
signatures
that
I
have
to
use
at
the
time.
They
are
specifically
the
same
technology
that
we
are
using
today
within
the
block
aspect.
A
Symmetrical
graphs
are
rsa-style
signatures,
and
really
this
is
what
begins
to
bring
me
very
close
to
blogs
when
the
phenomenon
begins
to
come.
In
fact,,
right
from
the
beginning
of
bitcoin,
I,
went
to
study
a
little
closely
about
block
change,
by
the
way,.
It
was
not
the
first
one
that
took
anything
correct
to
know
the
vi
in
little-known
detail
a
couple
of
ye
rs
before
in
Mexico,
the
Mexic
n
central
bank,
Banco
de
México
had
designed
a
crypto
peso,.
A
What
today
we
call
a
central
digital
bank,,
Kearns,
and
since
then,
Banco
de
México,
in
particular,
led
the
effort
by
Dr.
Raymundo
Peralta,,
who
was
the
creator
of
the
space,,
which
is
the
Mexican
system
for
payments.,
interbank
and
instant?
He
was
already
using
cryptography
and
he
decides
to
use
part
then
a
crypton
one,
then
the
first
time
he
touches
me
is
talk
about
bitcoin.
I
said
this,
it
brings
everything
I
like
it
brings
and
technology
it
brings
cryptography.
A
A
A
few
years,
later,
already
being
inside
ibm,,
ibm,
decides
to
enter
the
subject
of
blogs
and
its
first
development
of
blogs
in
what
we
know
today,
with
hyper
law
of
facebook,
ibm
decides
at
the
time
to
arrive
and
make
it
available
to
the
community
and
approaches
the
linux
foundation
through
which
this
family
of
hyper
layer
projects
is
made
public
and
generated
for
the
first
time,
because
inside
the
hyper
léger
of
my
mind,
nothing
more.
This
factory
is
what
we
use
the
most
here.
Everyone
lives.
A
If
we
don't
have
this
show
we
all
have
indie
and
that's
how
other
projects
have
been
added
within
the
family.
It
is,
but
well,
enough
of
an
introduction.
If
you
want,,
let's
go
into
the
middle
of
why
it
is
relevant,
hater,
leider
and
today,
above
all,.
All
we
have
to
see
is
if
surely
everyone
has
heard
of
a
lot
around
the
block,
change
theme
and
surely,
if
you
are
already
a
fan
of
the
blog
theme,
you
came
to
this
through
bitcoin.
A
A
Using
cryptographic
hashes
this
with
blocks
that
we
are
working
on
now,
if
that
definition
is
correct
at
1
meter,
what
to
say
is
insignificant
because
part
of
the
problem
we
have-
and
this
is
a
problem
we
have
of
industries
if
we
want
to
make
block
change,
really
reach
its
full
potential.
We
are
going
to
have
to
broaden
our
definitions
a
little
more
and
not
just
think
about
what
the
topic
of
blogs
in
nesbitt
with
then
and
above
all,
because
it
is
convenient
to
do
this.
A
The
other
things
that
we
could
be
doing
with
technology-
and
this
I,
even
dare
to
say,
has
led
us
to
exercises
in
fanaticism
and
with
this
I
do
not
mean
that
the
people
who
are
in
favor
of
active
scripts
are
fanatics,
but
that
in
both
fields
we
are
having
many
issues
of
fanaticism.
/.
If
someone
comes
and
wields
satoshi's
white
paper
to
tell
them
that
sato,
if
he
had
wanted
to
do
such
a
thing,
he
would
have
put
it
inside
the
white
paper.
It
touched
me
and
I
tell
them.
Position
is
extremely.
A
If
you're
not
solving
this
one
of
generals,
bi
Zantinos
are
not
studying
the
topic
of
blogging,,
so
the
problem
is
that
we
are
forgetting
technology
to
fall
solely
into
an
exercise
in
rhetoric,
and
that
exercise
in
rhetoric
is
not
being
prohibited
to
a
certain
extent,,
making
the
most
of
technology
and,
above
all,
those
transformation,
capacities,
then,
above
all,.
What
we
have
to
see
here
is
that
there
is
no
such
thing
as
a
unitary
problem,.
A
There
is
no
health
technology
that
is
going
to
solve
all
the
world's
problems,
in
fact,.
In
my
opinion,,
the
best
definition
of
unitary
is
something
that
suits
everyone.
Just
as
__
]
is
not
that
it
will
suit
everyone,
and
then
the
idea
of
thinking
that
I
hav,
a
single
technology,
a
single
tool,
hat
solves
every
ne's
problems
seems
to
me
to
be
that
it
is
a
little
exaggeration
and,
above
all,
what
we
have
to
see
is
that
when
we
talk
about
block
change,
there
is
not
a
single
problem
to
solve.
A
There
are
a
lot
of
programs
to
solve.
In
fact,
if
we
try
to
distill
the
basic
problems
that
we
attack
with
the
block
issues,
what
we
are
trying
to
do
is
solve
trust
problems,
trust
problems
that
arise
within
a
network
where
there
are
multiple
participants
who
have
points
of
view
found.
This
is
their
incentives
are
not
aligned,
their
incentives
are
one
against
the
other,
so
that
one
wins
the
other
has
to
lose.
Then,
under
these
zero
sum
scenarios
that,
to
top
it
all,
are
very
common
within
the
economy.
A
That
type
of
problems
are
the
style
of
problems
that
generate
distrust,
and
it
is
those
distributed
business
network
problems
that
generate
distrust
that
are
the
ideal
candidates
to
arrive
and
solve
problems
with
blocks.
Some
of
these
are
solved.
Live
concrete,
others
are
not
solved,
live
concrete,
especially
here.
What
we
have
to
see
is
that
there
is
a
concept
where
we
can
start
from
this
As
needs
in
two,.
On
the
one
hand,
we
have
the
needs
of
the
individual
and,
on
the
other
hand,
we
have
the
business
needs,.
A
So
what
can
be
very
valid
for
an
individual
from
libertarian
ideals,?
The
idea
that
you
do
not
have
a
state,
above
you
from
the
capacity
of
your
generate
your
own
form
of
value
without
having
to
depend
on
someone
else,.
These
are
ideal
individuals
who
are
very
clear,,
but
when
you
try
to
transpose
this
same
set
of
ideals
to
the
business
environment,,
you
realize
that
not
all
of
them
are
going
to
fit,,
not
all
of
them
work
in
the
same
way.
A
A
group
of
these
is
not
going
to
solve
all
of
them,
but
if
it
solves
some
of
them
very
well,,
in
fact,
it
solves
better
than
so
many
other
jones
blogs
that
come
from
outside,.
Then
what
we
are
seeing
is
that
we
are
facing
an
exercise
in
evolution,
the
basic
technology
that
we
had
suddenly
begins
to
evolve
and
begin
to
generate
different
characteristics.
A
These
differences
make
us
compatible
or
incompatible
with
a
certain
need.
So
if
you
realize
I
am
not
saying
here
that
bitcoin
is
good
or
that
bitcoin
is
bad,
that
an
LTE
is
good,
that
a
'doublet'
is
evil
as
simple
as
that
are
different
characteristics
of
these
different
characteristics.
What
not,
if
they
are
going
to
give
it
is
greater
capacity
or
not
for
gerard's
purposes
and
to
solve
a
problem.
Then
it
is
a
matter
of
adaptation.
It
is
not
a
matter
of
superiority.
A
If
you
ask
me,
for
example,
what
is
the
superior
technology
to
reach
and
make
money
in
cash?
I
would
say
bitcoin
any
day,
ok,.
Maybe
it
would
be
in
the
background,,
but
at
the
moment
in
which
we
begin
to
take
it
towards
the
needs
that
do
not
have
to
do
directly
with
the
creation
of
cash,,
then
that
is
where
we
begin
to
see
some
strong
differences,.
Then
cases
of
different
uses
imply
different
needs
and
therefore
different
solutions,.
A
So
it
is
a
matter
of
being
adequate
to
the
nature
of
the
problem
when
the
idea
of
starting
to
create
these
technologies
within
the
graiv
r
léger
family
is
born,
part
of
what
was
the
main
river
of
everything.
This
was
the
idea
of
designing
technology
that
would
face
each
other,
so,
as
it
says,
below
the
l
go
of
hyper
leinier
technology,
blogg
ing
for
business.
So
what
we
are
trying
to
do
here
was
technology,
not
so
much
for
individual
use.
It
was
for
business
use.
A
So
part
of
the
dilemma
was
that
we
started
as
a
group,
both
within
ibm
and
part
within
the
character
foundation,
laws
to
think
about
what
they
are,
the
great
dilemmas
that
the
bloc
could
resolve
and
in
particular
which
of
those
dilemmas
where
there
are
more
businesses,.
What
things
worked
well
in
the
technologies
to
solve
these
business
plans
and
what
things
had
to
arrive
and
then
change,
for
example,.
One
of
the
first
points
that
We
realized
that
we
had
to
change
the
architectural
model,
a
little
bit,
since
I
am
going
with
this.
A
If
you
analyze
the
technology
behind
bitcoin
as
an
architectural
model,.
You
will
realize
that
much
of
the
functionality
that
is
embedded
within
bitcoin
is
built
and
inexorably.
It
is
inseparable
from
bitcoin.
You
cannot
come
and
put
a
c
algorithm.
Onsenso
other
than
viktor
bill
contains
s
please
to
serve.
There
is
no
possibility
to
change
that
consensus
algorithm
and
that
idea,
although
it
is
very
good
for
what
I
was
trying
to
solve
satoshi,
it
was
not
necessarily
a
better
idea
to
be
able
to
reach
topics
like
high
scalability
or
very
high
operability.
At
the
transaction
level.
A
This
algorithm
was
specifically
designed
to
reach
and
generate
the
equivalent
of
monetary
policy
within
a
distributed
network.
It
was
designed
for
practical
purposes
to
generate
more
transaction
protection,
but
rather
to
generate
economic
scarcity
scarcity
that
could
guarantee
the
value
of
a
currency
over
time,
and
yet
it
is
the
basic
precept
that
works
very
well
within
bitcoin.
A
I
see
the
consensus
model,
and
this
same
The
idea
was
taken
to
the
rest
of
the
components
within
the
architecture,
so,
for
example,
how
we
started
talking
about
smart
contracts
to
automate
processes,
well,.
We
said
what
happens
if,
instead
of
putting
a
single
language
for
the
design
of
these
smart
contracts,,
as
would
be
the
case
For
example,
in
the
case
of
video,,
the
idea
was
good
and
why
not
rather
make
a
basic
architecture
where
different
programming
languages,
ferent
tools
can
be
made
to
be
able
to
support
these
contracts,.
Then
uddenly.
A
A
The
same
was
done
at
the
level
of
communication
protocols,
the
storage
protocols,
the
cryptographic
mechanisms,
the
identity
mechanisms,
the
fact
that
you
could
have
engines
for
policy
management
and
all
this,
because
we
realized
that
if
we
designed
a
single
engine
to
solve
this,
we
were
pigeonholing
the
solution
to
address
a
single
execution
problem.
When,
it
came
to
adopting
a
much
more
modular
architecture,.
What
we
managed
to
do
was
have
a
much
more
open
vision
of
how
to
solve
business
problems
and
this,,
which
was
a
bet
a
few
years.
Ago,
today,
I
dare
to
say,.
A
Little
has
materialized
little
by
little.
What
we
are
seeing
is
an
increasing
appearance
of
new
consensus
engines
in
d
Where.
We
are
seeing
more
and
more
new
implementations
around
smart
contract
platforms
and,
above
all,
part
of
what
has
made
this
platform
attractive
to
businesses
is
the
fact
that
there
is
this
flexibility
and
that
there
is
even
a
philosophy,
I
dare
say
about
reuse,
previously
existing
components
within
the
blogging
platform
that
do
not
involve
obscure
technologies,
because
I
tell
you,
despite
that,
for
example,
saying
a
month
is
very
popular.
A
Today,
I
am
going
to
the
number
of
programmers
out
there
that
you
can
get
who
know
how
to
speak,
solidified
that
they
know
Talking
about
point.
3
is
very
small
in
comparison,
for
example,
of
the
community
of
developers
who
already
know
about
the
community
of
developers
who
already
know
about
expert,.
So
the
idea
of
being
able
to
make
hese
language
engines
more
and
m
re
open
and
being
able
to
make
them
inter
hangeable
implies
have
a
platform
that
has
the
ability
to
evolve
through
d
According
to
time,.
A
The
preferences
of
the
programmers
around
the
programming
language
will
evolve,.
In
fact,
you
can
see,
for
example,
how
IBM
is
a
company
that
has
a
lot
of
investment
around
Java
technology,
and
there
are
the
reasons
why
it
is
already
going
with
one
of
the
first
languages
to
develop
smart
contracts
within
our
platform,
but
I
dare
to
say
that,
as
we
see
things
in
terms
of
language,
development
today,
for
example,,
a
platform
for
the
development
of
smart
contracts
in
the
country
is
not
far
from
exactly
addressing
the
fact
that
there
is
an
increasing
demand
by
programmers.
A
So
this
was
one
of
the
first
big
decisions
made
within
the
platform,
the
other
one
that
I
dare
in
has
a
little
more
litigation
and
more
especially
when
we
go
to
the
exercises
these
of
what
it's,
what
he
wanted
to
do
to
tokyo.
That
was
what
he
didn't
want
to
do
that
cough,
and
it
has
to
do
with
how
mo
we
protect
transactions
if
they
realize
bit
contains
a
series
of
key
elements
within
its
architecture,
for
example,,
transparency
is
number
one,.
A
So
what
gives
security
to
a
transaction
is
the
fact
that
I
can
trace
and
know
where
step
to
a
certain
transaction,
in
fact,.
There
is
the
level
of
transparency
that
technically
I
can
give
a
web
page,
a
number
of
which
and
know
how
much
money
is
in
there
regardless.
If
that
one
is
my
one,
then
that
is
absolute
transparency.
A
There
would
be
a
sense
in
which
there
would
be
absolute
transparency,
for
example,
in
your
clinical
history.
There
should
be
absolute
transparency,
for
example,
in
your
sexual
partners.
There
should
be
absolute
transparency
regarding
all
your
properties
and
then,
when
you
start
to
push
this
exercise,
you
realize
look,
and
if
transparency
has
a
lot
of
value,
there
is
no
limit
to
that
transparency
and,
above
all,
the
limit
to
transparency
is
associated
with
the
exercise
of
identification.
A
The
cash
shannon
is
not
treatable,
I,
don't
know
who
gave
it
to
me.
However,
what
happens
when
we
see
the
institutions?
The
institutions
have
the
obligation
to
identify
who
their
clients
are
and
not
just
they
have
the
obligation.
In
many
cases
they
have
the
need
to
identify
with
whom
they
are
working,
so
I
am
buying
raw
material.
A
So
suddenly
the
idea
of
working
on
these
exerc
ses
of
responsibility
in
an
envir
nment,
where
I
do
not
know
who
the
s
ppliers
are
and
whic
definitely
doesn't
necessarily
work
very
well,
then,
in
other
use
cases,
normatively
I
have
the
obligation
to
know
who
these
clients
are
so,
for
example,
today
in
Mexico,
if
I
want
to
make
an
operation
and
I
want
to
deduct
that
operation
the
input
operation.
Now
it
could
not
have
been
made
in
cash,,
it
has
to
be
through
a
nominative
means
of
payment,
that
is,
it
has
to
be
through.
A
It
is
a
check,
an
electronic
transfer.
You
have
to
make
a
deposit
named
someone's
name,
and
if
you
realize
there
in
the
exercise
of
the
keyword,
it
is
nominative,
it
has
to
have
someone's
name.
Then
the
authority
of
today
is
already
placing
an
obligation
that
I
have
the
ability
to
distinguish.
Who
is
that
person,,
an
institution
that
is
making
a
payment
to
me,
and
who
is
that
person
or
institution
to
which
I
am
paying
for
the
fact
of
their
provider
and
if
it
declares
even
more
regulated
institutions?
A
As
is
the
case
with
financial
services,
banking,,
the
public
sector,,
the
health
sector,.
You
will
realize
that
these
regulations
exist
and
are
there
for
a
reason,,
and
that
reason
is
not
a
scheme
of
world
domination,.
It
is
a
scheme
that
has
to
do
with
with
the
security
of
the
individuals
themselves.
Then
suddenly,
the
idea
that
uses
a
100%,
public
and
anonymous
technology
could
no
longer
fit
the
text,
so
we
needed
tools
that
could
make
them
named
and
we
started
to
make
private
networks
when
making
private
networks.
A
It
also
gave
me
a
dilemma
in
hey,
but
in
a
private
network
absolute
transparency
already
becomes
dangerous,
because
then
it
means
that
my
competitors
must
then
know
who
I
am
buying
at
what
price
am
I
buying,
who
am
I
selling
to,
moreover,.
My
clients
would
even
have
a
way
of
knowing
if
the
price
I
am
selling
to
them
is
a
standard.
Price,
is
a
high.
Peso,
is
a
low
price,
or
if
they
are
my
client,
preferably
then
they
realize.
A
There
are
good
reasons
why
businesses
today,
for
pure
business
reasons,
decide
that
they
want
to
keep
these
things
secret.
So
it
seems
that
this
idea
of
arency
would
then
make
busin
sses
not
want
to
enter
the
b
oc.
Then
it
is
where
the
idea
is
born.
That
I,
dare
to
say,
is
one
of
the
fundamental
parts
of
all
blogs.
A
Instaban
against
you
within
the
leading
sector
is
in
the
idea
that,
in
addition
to
being
able
to
build
private
networks
that
these
networks
are
permissioned,
and
then
the
idea
of
a
permissioned
network
is
that
they
ave
tools
that
allow
them
to
determine
access
levels
and
those
levels
of
access
addiction,
give
them
to
profiles
and
those
profiles,
together
with
access
rules,
combine
them
inside
smart
contracts
to
define
complete
and
complex
rules.
Jacques
is
an
example
case.
A
Let's
say
that
I
would
like
to
set
up
a
network
where
it
will
link
all
the
banks
in
mexico
to
all
the
account
holders
of
these
banks
and
the
regulator.
I
could
define
rules
that
would
allow
me,
for
example,
as
an
account
holder,
to
see
any
account,
if
only
if
I
am
a
holder
within
that
account,
then
I
would
have
a
single
point
where
I
could
enter
and
see
all
my
accounts,
regardless
of
which
bank
it
is,
and
the
only
condition
it
has
to
meet
so
that
I
can
see.
A
Is
that
I
am
the
owner
]?
Maybe
the
rest
of
the
accounts
are
inserted
inside
the
browser,
but
I
cannot
see
them
because
the
access
experience
does
not
give
me
to
comply
with
that
rule.
That
I
am
the
owner
of
the
account.
My
bank
would
have
another
rule
within
their
roles.
That
would
allow
them
to
see
all
the
accounts
that
are
inside
that
bank,
but
they
would
not
allow
them
to
see
the
accounts
that
are
in
their
competitors'
banks.
They
would
not
allow
them
to
see
those
that
they
are
in
and
even
the
regulator.
A
What
can
we
do?
I
should
have
the
ability
to
see
everything.
I
can
set
rules
that
limit
visibility.
Deregulator
as
suffered.
Look
at
the
regulator
can
see
any
account
can
see,
regardless
of
who
is
the
owner
can
see
regardless
of
which
institution,
but
it
has
to
be
previously
open
an
investigation
against
a
person
so
that
I
can
then
come
in
and
open
that
person's
accounts
and
only
accounts
of
that
person.
A
So
if
we
see
this,
it
exists
today
in
the
business
rules
in
the
business
networks,
value
for
confidentiality,
there
is
value
around
making
traceability,
but
definitely
the
idea
of
making
trans
arency
the
truce
you
decide
does
not
exist
or
it
exists.
It
goes
with
very
speci
l
conditions,
for
example,
you
should
not
have
he
ability
to
be
transparent
about
these
goods
unless
you
were
a
publi
official
that
is
forced
to
be
was
against
a
statement
of
assets
around
the
transparency
of
your
assets,.
A
You
2
at
the
time
of
giving
these
capacities
to
the
bloc
in
what
we
did
was
build
a
platform,
and
this
is
common
within
everything
that
is
hyper
laws
to
the
capacity
of
power,
create
rules
where
I
can
establish
who
can
do
what,
under
what
roles,.
Under
what
profiles
and
under
what
conditions
around
transactions
and
around
access
to
information
with
which
they
realize
we
are
doing
an
exercise
much
more
similar
to
what
businesses
are
doing,
values.
What
but
h
re
it
comes
later.
A
So
the
big
dilem
a
and
the
dilemma
is
what
shoul
we
be
doing,
because
what
It
has
been
the
take
around
this
whole
issue
of
blockades,.
It
has
been
the
crypto
assets
and
if
the
crypto
assets
have
a
lot
of
value,,
but
here
I
think
we
have
to
begin
to
understand
a
dilemma
that
around
the
value
figure,
we
really
have
a
couple
of
models,.
Yes,
even
we're
pretty
familiar
with
it,
we
don't
question
it
twice:
it's
crypto
assets
as
it's
written
asset
is
cash,
so
ok
yeah
yeah,
ok,
but
what
makes
this
money
worth?
A
What
makes
it
worth
to
me
is
the
fact
that
it
is
is
in
my
position,.
So
as
long
as
I
have
this
asset
in
my
position,,
that
money
is
mine
at
the
moment,
I
transfer
this
money
to
someone
else
or
I
lose
it
or
it
is
destroyed,.
It's
that
simple,.
That
figure
of
value
ceases
to
exist,
that
value
already
it's
not
there,
or
at
least
it's
no
longer
in
my
position.
A
A
Where
is
the
value
is
in
yesterday?
Not
really
the
value
is
placed
around
the
wallet.
The
point
where
possession
of
that
money
is
made
yesterday
exist
primarily
to
trace
transactions
and
to
validate
that
the
exercise
of
doubles
is
not
done
the
possibility
of
copying
digital
money
and
spending
it
twice.
Then
it
is
leger.
It
is
a
control
mechanism,
for
the
value
is
not
found.
Yesterday,
the
value
is
in
which,
in
the
position
now
we
are
going
to
see
a
different
model.
The
different
model
is
that
of
the
credit
card
of
the
baby
card.
A
It
is
also
within
me
the
same,
but
here
a
couple
of
things
happen
that
make
it
different
from
the
entrance
to
the
credit
card.
It
brings
my
name
things
at
the
time
to
bring
my
name.
This
reaches
the
base
with
a
nominative
medium,
as
opposed
to
cash
that,
in
an
anonymous
medium
that
this
is
a
nominative
medium.
Then
it
begins
to
seem
much
more
like
that
of
lt
the
hec
As
long
as
I
have
the
card,.
It
becomes
my
means
of
accessing
the
value,.
A
The
whole
card
is
not
so
much
value,,
so
if
I
destroyed
this
card,
I
can
give
it
and
request
a
replacement,
and
my
money
is
still
there,.
The
card
is
nothing
else.
more
than
an
access
key,
then,
where
is
the
value
of
value,
is
no
longer
in
the
position.
The
value
is
in
the
register.
That
means
that,
somewhere
within
the
network
of
the
financial
system,
there
is
a
bank
that
says
look
baltasar
has
associated
with
the
flat
account
of
such
and
such
amount
of
money.
A
What
we
do
with
those
of
l
ts
is
a
much
more
similar
figure
from
the
credit
card
to
the
debit
card,
because
you
can
register
the
value
through
he
léger,
then
without
there
being
the
need
for
the
position
of
those
assets
of
those
assets
are
registered
in
my
name
where,
if
it
is
different
from
the
classic
banking
mechanism,
it
is
that
in
the
classic
banking
mechanism
and
This
repository
is
a
central
repository,.
It
is
the
data
of
my
bank,.
Here
it
is
a
distributed
repository,.
A
A
Well,
the
really
curious
detail
is
that
if
you
realize
today,
there
is
more
money
worldwide,
the
registration
mechanism
than
the
physical
mechanism
more.
There
is
not
enough
physical
money
to
cover
the
entire
amount
of
money
exists
electronically
in
this
registry
way
and
I
can
even
show
you
in
business
cases
that
there
is
much
more
money
in
the
use
of
blogs
in
making
registry
mechanisms
than
those
that
can
be
through
crypto
type.
A
What
is
the
dilemma
that
the
registry
mechanism
is
not
sexy?
The
idea
of
generating
cash
s
sexy,
because,
because
you
o
n,
your
own
factory
of
life,
but
definitely
the
idea
of
a
prope
ty
registry
has
a
lot
of
value
and
it
has
a
lot
of
value
for
the
comme
cial
environment
and
it
has
a
lot
of
value,
especially
because
there
is
a
lot
o
possibility
of
generating
use
c
ses
that
have
a
much
bigge
impact
than
the
one
that
we
are
doing
with
the
prototypes.
A
Then
we
are
going
to
see
this
because
I
say
that
there
are
more
banks,
they
educate
more
value
above
all,
because
what
we
are
going
to
do
with
this
is
try
to
resolve.
Friction
since
I
am
going
with
this,
if
you
remember
when
I
told
you
at
the
beginning,
I
told
you
that
I
had
I
have
worked
with
a
lot
of
technology
officers
from
the
tax
administration
service,
and
one
of
the
many
things
I
have
to
do
is
release
the
team
that
designs,
the
advanced
electronic
signature.
A
In
addition
to
doing
this,
I
have
to
design
the
first
documents
that
used
cryptography
inside
Mexico,,
such
as
tax
returns,
quietly.
What
I
call
in
my
greatest
success
story?
The
electronic
invoice
I
consider
the
electronic
invoice
to
be
a
success
story,,
above
all
because
of
the
following:
in
2004,,
when
the
first
version
of
the
invoice
was
launched,,
it
was
then
called
the
cpd
or
digital
tax
receipt,.
We
carried
out
a
series
of
investigations
to
compare
the
digital
medium
find
the
physical
medium.
A
Then
I
am
going
to
analyze
the
way
that
the
invoices
worked
in
these
physical
mediums
in
small,
medium
and
large
taxpayers.
There
can
be
from
small
invoices
to
enormous
invoices
and
carme
I
know
some
of
the
enormous
ghosts
that
there
are,
but
when
I
was
checking
this,
it
struck
me
some
of
the
most
extreme
cases
and
one
of
these
was,
for
example,.
This
blog
in
the
retail
sector,
click
on
the
largest
self-
service
chain.
A
You
know,
the
tax
code
says
that
an
institution
has
to
store
five
years
of
its
tax,
documents,,
so
think
about
the
case
of
a
large
supermarket
chain.
How
many
is
five
years
of
incoming
and
outgoing
invoicing
I
got
to
know
some
of
these,
for
example,
one
of
them,
a
fairly
important
richter
chain
in
mexico,
had
3,500
square
meters
full
of
paper,.
A
Someone
had
to
have
the
ability
to
dive
into
the
3,500
square
meters
of
paper
and
get
the
sentence
to
invoice
that
you
were
looking
for
then
see
this.
If
you
put
together
the
entire
life
cycle,
since
you
sent
the
legend
invoice
to
be
printed
base
of
processing,
the
orders
sent
me
a
messenger
with
the
invoice
the
invoice
of
the
one
received
was
reviewed
was
paid,
was
ar
chivada
and
it
was
translated
for
notorious
cases.
A
Your
story
was
put
together
the
whole
process,
the
cost
of
those
five
years
at
that
time
for
an
invoice
of
98
pesos.
It
did
not
matter
what
the
hell
the
cost
had
been
invoiced
now,
not
38,
plus.
If
your
utility
was
less
than
98
sorry,
margarito
The
invoice
for
your
own
utility
had
already
been
more
expensive,.
A
However,
part
of
that
cost
was
management
cost,
because
the
paper
did
not
cut
much,.
It
was
all
the
number
of
people
who
were
involved
in
filling
out,,
reviewing,
shipping,,
paying
and
archiving
those
invoices.
For
that
year,.
If
everything
is
a
great
issuer
and
receiver
of
electronic
invoices,,
which
at
that
time
was
optional,,
your
cost
went
from
98
pesos
to
17,
because
you
could
start
automating
many
of
these
functions
today.
A
great
issuer
and
receiver
of
invoices
and
the
average
cost
of
15
years
of
life
is
around
3
and
a
half
cents.
A
So
look
at
that
jump.
We
made
from
98
pesos
to
3
cents
in
it,
and
that
was
done
because
the
invoice
was
a
data
message
protected
with
cryptographic
mechanisms
in
which
the
sap
gave
me.
The
figure
of
certainty
where
I
and
the
rest
of
the
participants
in
the
chain
could
arrive
and
validate
the
validity
and
integrity
of
that
document,
and
suddenly
this
it
made.
You
no
longer
need
as
many
controls
as
you
had
before,
and
that
you
can
automate
processes,
and
today
there
are
large
companies.
A
Their
systems
talk
to
each
other,
to
negotiate
prices
to
establish
orders,
generate
invoices,
receive
invoices
and
pay
invoices
and,
as
a
crime
party
basket
by
the
hands
of
man,
you
do
the
entire
commercial
process
for
this
we
can
do
it
because
at
the
time
the
sat
was
achieving
this
reduction
of
friction
when
it
comes
to
offering
a
large
central
repository
of
invoices.
But
what
does
it
do
when
the
large
ones
do
not
exist?
Central
repositories?
A
A
A
The
consensus
is
that
its
scalability
is
very
good
because
it
can
still
put
as
many
as
you
can
think
of
within
the
network,
but
it
is
definitely
not
a
fast
network,
and
yet,
when
you
see
what
we
are
doing
in
character,
lady,
in
particular,
in
harper
layers
harvick,
we
are
the
column
of
en
medium.
We
are
a
column
that
primarily
manages
the
consensus
mechanisms
where
the
speed
to
achieve
that
consensus
is
much
higher,
where
our
scalability
is
definitely
not
the
scalability
of
what
is
called
weak
against
what
you
are
looking
for.
A
You
do
not
have
a
moderate
scalability
that
allows
you
to
generate
anyway,
rules
of
business
networks
with
many
operators
and
e
n,
where
the
purpose
of
that
transaction
can
be
resolved
particularly
quickly.
Then
this
has
allowed
us
to
generate
and
govern
new
smart
contracts
through
which
automating
business
processes
and
reducing
business
operating
costs.
A
Then
this
has
even
been
evolving.
If
you
see,
for
example,
today
what
is
the
latest
version
of
hyper
law
of
fabric
and
version
20?
We
have
even
built
on
the
things
that
we
already
had
running
to
add
new
things.
For
example,
we
are
taking
the
idea
of
rity
much
further,
because
now
w
at
we
are
doing
is
that
you
don't
just
have
a
consensus
model
applicable
to
your
network,
but
before
you
have
the
ability
to
change
consensus
models,
but
once
you
established
a
consensus
model
that
consensus
model
governed
your
entire
network.
A
Now,
what
we
want
is
that
even
you
you
can
have
modularity
until
you
get
to
the
smart
contract,
then
let
it
come
in
two
participants
of
the
network
can
establish
that
there
is
a
consensus
model
different
from
the
one
that
exists
between
two
other
participants
within
the
network,
so
that
then
we
can
ensure
that
the
commercial
conditions
are
adapted.
Rather
they
are
the
ones
that
govern
and
that
we
adapt
the
consensus
modules
to
these
commercial
conditions.
A
We
are
also
making
new
mechanisms
that
allow,
for
example,
to
provide
even
more
security
in
transactions
by
adding
mechanisms
that
allow
me
to
review
the
integrity
of
a
transaction
of
decentralized
agreements
without
having
to
know
the
content
of
that
transaction
through
the
streets,.
So
this
allows
me
having
what
I
call
consensus
sub-transactions.
So
this
gives
even
more
capacity
and
security
to
the
transactions
and
makes
them
less
vulnerable.
A
While
we
continue
to
respect,
for
example,
the
basic
principle
of
the
purchase
experience
of
the
life
of
the
transactions,,
we
are
also
adding
policies
of
signed
or
at
the
channel
level,
so
that
you
can
establish
signing
policies
that
are
general
for
your
entire
network,
but
that
you
can
establish
channel
by
channel.
This
is
linking
parties
between
parties
that
may
have
their
own
signing
rules
that
could
be
different
from
the
rest
of
the
participants.
A
A
I
am
going
to
do
a
little
bit
here,
because
we
are
running
out
of
time.
that
this
is
important
in
the
particular
case
of
mexico
and
in
the
particular
case
of
latin
america,
mexico
and
latin
america
have
an
enviable
place,
because
we
were
among
the
first
countries
to
sign
the
model
law
on
electronic
signatures
in
central,
and
we
were
among
the
first
countries
to
implement
local
regulations.
That
implies
this.
A
For
those
who
have
not
ever
read
the
central
model
law,,
which
implies,
is
that
all
the
countries
that
signed
uncitral
took
the
obligation
to
modify
their
laws
in
order
to
establish
at
least
one
law.
That
said
that
a
physical
document
signed
with
asymmetric
cryptography
was
a
legal
equivalent
to
a
document
of
a
specific
electronic
document
and
asymmetric
the
equivalent
of
a
physical
document
signed
with
a
handwritten
signature,
because
this
is
relevant
because
all
our
processes,
the
daily
of
and
especially
in
our
processes,
that
work
under
great
regulatory
loads,
are
thinking
about.
A
This
idea
of
using
physi
al
documents
signed
handwritten
mind
nd.
In
many
cases,
the
law
This
is
how
it
is
expressed.
,
however,,
when
you
have
the
legal
idea
of
an
equivalence,.
This
means
that,
without
having
to
ask
the
a
thority
for
permission,,
you
could
come
and
chang
the
places
where
the
law
speak
of
physical
docum
nts
for
electronic
documents
and
where
it
spoke
of
dwritten
signatures.
by
electronic
signatures,
and
those
two
are
n
the
basic
concepts
that
we
are
using
within
the
bloc,
then,.
All
the
member
countries
of
uncitral
that
signed
this
agreement.
A
All
the
countries
in
latin
america
that
have
signing
laws,,
as
is
the
case
in
mexico,,
that
have
a
commercial
code,,
a
fiscal
code
of
the
federation,,
a
federal
law
signature.
This
means
that,
without
having
to
ask
for
permission
from
the
authority,
I
could
come
and
change
the
processes
that
today
run
on
paper
with
high
management
costs
for
entirely
digital
advice
based
on
blocks
without
having
to
have
a
permit
or
authorization
specific.
A
So
while
our
legal
landscape
today
is
very
aggressive
against
the
issue
of
the
foreign
exchange
aspect
of
the
bank
in
mexico,,
it
could
have
been
spared
the
regulations
of
having
taken
out
an
advertisement
in
the
newspaper.
That
said
no,
and
that
was
the
only
answer
where
we
have
this
resistance
to
the
foreign
exchange
aspect.
A
We
have
many
for
food
traceability,
main
hot
for
mineral
traceability,
one
that
is
already
evolving
right
now
from
prototype
to
final
product.
We
have
a
network
formed
with
marc
with
google
wrong
with
the
fbi
with
kpmg.
No,
what
we
are
doing
is
traceability
of
drugs
to
prevent
the
trafficking
of
pirated
drugs.
We
have
this
worldwide
to
make
electronic
transfers
of
funds
with
which
I
tell
you.
We
also
work
with
creatives
with
larger
ones
in
the
city.
A
To
do
so,
we
have
trade
to
do
the
financing,
nto
commercial
chains
of
international
trade,
trade
lens
to
do,,
for
example,
traffic
traceability,
and
why
do
I
tell
you
that
this
is
more
relevant?
It
is
not
just
about
bringing
more
and
more
projects,
consider
this
between
English.
Well,
not
only
these
exercises
the
today
of
the
cost
of
sea
freight
18
percent
is
a
management
preserve.
A
This
is
people
carrying
and
bringing
pieces
of
paper
from
one
place
to
another
when
they
consider
that,
in
the
life
cycle
of
almost
all
the
products
that
are
in
their
hands,
those
products
have
at
least
a
section
of
sea
lane.
They
are
going
to
realize
the
amount
of
money
made
last
year.
The
world
trade
organization
made
an
evaluation
of
how
much
it
would
imply
in
savings
the
fact
of
making
maritime
traffic
nothing
more
and
maritime
traffic
will
be
resolved
not
with
physical
documents,
but
with
electronic
documents
in
bulk.
A
A
But
if
we
manage
to
overcome
this
resistance,,
what
we
are
going
to
do
is
build
a
new
future
for
the
blog
and
finally,
one
last
recommendation
that
always
what
I
like
to
do
when
he
talks
about
blogging,
is
that
when
I
talk
to
a
fan
of
blogs,
like
me,
blogs
sound,
like
the
cure
for
everything
like
the
solution
to
the
future.
Life
must
prevent
hair
loss
to
combat
erectile
dysfunction,
but
in
a
way
one
way
or
another,,
which
is
nothing
more
than
a
tool,.
A
So
what
I
ask
of
you
is
to
see
the
bloc
sion
as
a
tool,
analyze,
the
problem
and,
depending
on
the
problem
to
be
solved,
choose
whether
blogging
is
a
good
solution
or
not,,
and
if
so,
what,,
because
not
all
the
blocks
are
going
to
work,.
If
then
fall
in
love,
I
know
your
problems,
fall
in
love
with
solving
problems.
Don't
fall
in
love
with
the
tool
because
the
dilemma
we
have
for
engineers
is
that
an
engineer
wins
a
hammer
and
everything
has
a
nail
head.
A
B
Or,
on
the
contrary,
lack
of
truth
that
it
is
a
pleasure
and
I.
Thank
you
very
much
for
giving
the
kickoff
and
cutting
the
bar
precisely
of
these
conversations,
because
it
is
a
privilege
to
have
you
here
so
now.
I
do
say:
I
open
the
microphone
I
would
like
to
see.
If
anyone
has
any
questions,
I
think
it's
better.
If
we
raise
our
hands
and
I
give
them
access
to
this
request,
here
is
Javier
Salomón,
go
ahead,
Javier,!
You
can
open
the
microphone,
not
if
you
can,,
but
for
me
to
have
prepared.
B
A
And
in
fact,
look,
we
are
working
on
an
infinite
number
of
use,
cases,,
including
several
in
Mexico,
for
example,,
one
that
we
recently
made
a
public
reference
for,.
We
are
using
block
change,
for
example,
to
set
up
a
network
that
interconnects
the
insurance
institutions
that
they
are
part
of
the
amics,
which
is
the
Mexican
association
of
insurance
institutions.
Today,
the
use
case
we
have
is
a
relatively
simple
use
case,
which
is
because
of
the
young
person.
The
idea
arises.
A
Is
that
an
insurance
company
when
arriving
and
issuing
a
policy
can
record
in
the
representative
hash
of
that
policy
inside
the
block
is
not
registering
the
policy
exactly
to
protect
issues
of
e
confidentiality,
but
when
registering
the
hash,
it
allows
you,
as
a
user
or
another
user,
to
take
a
copy
of
your
policy,
generate
the
streets
and
validate
that
this
case
is
coincident
within
the
block.
The
idea
of
this
is,
above
all,
that
you
can
fight
fraud,
In
policies
to
the
account
in
Mexico,
third,
about
two
years.
A
Ago,
regulations
came
out
that
require
all
vehicle
drivers
in
Mexico
to
have
insurance,
at
least
for
damages
to
third
parties,
however,,
a
Mexico
that
is
a
country
that
has
very
little
insurance
culture
presented
a
series
of
problems,
such
that
today
it
is
estimated
that
less
than
32
percent
of
the
entire
vehicle
fleet
has
auto
insurance,.
So
the
authority
is
beginning
to
face
introducing
mechanisms
to
attack
the
problem,
one
of
the
things
What
they
do
is
in
what
we
know
here
as
corralones
or
vehicle
deposits.
A
At
the
moment
in
which
the
tow
truck
removes
all
the
car,
for
example,,
it
may
be
poorly
parked
or
That's
how
they
arrive,
they
take
them
to
the
vehicle
deposit
and
among
the
series
of
conditions
that
they
ask
you
to
remove
the
car
from
the
deposit,.
They
ask
you
to
show
yourself
on
the
cover
of
your
insurance,.
This
did
not
cause
more
insurance
to
be
sold,
in
fact,.
A
What
began
to
happen
is
that
if,
today
in
mexico,
you
pass
outside
a
vehicle
deposit,
you
will
realize
that
there
are
some
cars
that
are
parked
outside
with
the
trunk
open
and
in
the
open
trunk.
They
are
selling
insurance
policies
right
there.
Now
you
could
assume
that
these
are
policies
insurance,,
but
most
likely.
These
are
not
policies
that
I
have
that
they
are
selling
you,.
A
It
is
a
false
cover
of
something
that
appears
to
be
insurance,,
so
well,
maybe
spend
it
to
show
it
to
the
police
and
you
tricked
the
police
into
taking
your
car,,
but
the
dilemma:
it's
that
when
you
bought
it,
nobody
asked
you.
If
you
wanted
to
buy
a
fake
policy,
maybe
you
had
an
accident
a
few
kilometers
from
there.
You
want
to
take
out
the
insurance,
and
you
realize
You
know
that
the
only
thing
you
bought
was
an
overvalued
piece
of
paper,
or
maybe
you
went
to
an
insurance
agent,.
A
A
The
idea
with
this
and
suddenly
I
as
an
insured,
an
insurance,
adjuster
or
the
authority,
can
take
the
data
of
the
policy,
will
register
to
ask
the
blog
change
and
know
one
that
the
policy
is
there
with
which
he
determined
that
there
is
such
a
policy
and
two
that
there
is
a
coincidence
between
what
the
title
page
of
the
policy
says
and
what
is
registered
and,
finally,
that
it
is
in
force.
This
was
the
first
case
of
use
here.
A
They
are
beginning
to
teach
another
series
of
use
cases,,
for
example,
to
share
information
between
the
different
insurers
that
can
be,
for
example,
issues
around
pre-existing
c
Covered,
for
example,,
when
you
are
contracting
a
new
medical
expenses
insurance
with
the
transfer
of
your
stock,
so
that
you
can
manage,
for
example,
the
delivery,
reception
and
processing
of
medical
reports,
for
example,.
When
you
are
processing
medical
expenses
insurance,,
which
is
a
use
case
where
there
is
a
lot
of
fraud
today,
blogs
I
could
come
and
solve
this.
A
So
specifically,
what
we
are
doing
is
putting
together
and
right
now.
There
has
really
been
a
lot
of
discussion
to
see
what
the
following
use
cases
are,
because
once
they
saw
no
working,
what
they
want
to
do
is
create
more
so
this
is
also
another
recommendation
that
I
even
give
them
when
they
create
a
block
solution
that
is
more
valuable
than
the
ecosystem
solution.
So
where,
before,
when
we
thought,
for
example,
the
development
of
agile
technology,
we
generally
work
with
the
figure
of
the
mv
of
the
minimum.
A
What's
more,
I
have
been
more
successful
right
now
in
managing
to
place
blocks
where
the
first
use
case
had
almost
no
return
on
investment,,
but
the
real
value
was
made
in
the
fact
of
being
able
to
interconnect
their
players
because
the
interconnected
ones
do
not
begin
to
ask
you
for
the
use
cases
that
they
have
the
highest
return
on
investment,
in
fact,.
Someone
once
told
me
he
asked
me
to
make
an
analogy.
That
was
what
it
was
like
to
sell
blogs
and
not
to
design
block
solutions
and
I
told
him
look
master.
A
Do
these
blocking
things
is
like
trying
to
go
out
and
sell
the
first
couple
of
phones.
There
is
today
no
one
video
to
buy
a
phone,
because
it's
a
phone,
you
know
what
it's
for
and
if
you
buy
a
phone
you
know
you
can
call
any
other
phone
on
the
face
of
the
earth,
but
whoever
it
was
that
bought
the
first
two
pairs
of
phones
made
a
real
leap
of
faith,
because
a
phone
alone
is
useless.
A
A
good
idea
of
the
analog
of
what
appened
was
how
the
phone
entered
mexico
a
little
known
detail,
maybe
from
the
The
history
of
Mexican
telecommunications,
is
that
the
first
two
telephones
in
Mexico,,
one
was
in
the
National
Palace
and
the
other
was
in
the
Chapultepec
castle,,
which
it
was
where
the
president
lived
at
that
time
and
where
his
office
was
so.
This
means
that
the
first
two
telephone
extensions
were
in
mexico.
A
Both
were
for
the
president
and
literary
coppel
for
a
body
that
served
him
with
exit
from
the
national
palace
to
go
from
return
to
chapultepec
castle.
It
was
easy,
it
is
old,
internal
quality,
the
beans
I
am
going
home.
It
was
useless
for
anything
else,
but
at
the
time
the
president
had
a
telephone.
The
secretaries
of
state
wanted
to
have
a
telephone
to
be
able
to
speak
with
the
president
at
the
time
in
which
the
secretary
of
state
had
a
phone.
A
You
know
you're
going
to
buy
a
phone,
because
you
want
to
be
in
communication
with
the
rest
of
the
world
and
what
was
the
first
use
case
to
have
this
telephone
today
is
probably
no
longer
even
a
transcendent
use
case,,
but
rather
what
was
done
was
that
what
is
truly
transcendent
is
in
the
creation
of
a
network
Once.
It
exists
on
the
network,.
The
use
cases
begin
to
emerge,,
I,
dare
to
say
naturally,.
So
what
we
are
seeing
today
is
many
of
these
networks.
A
or
where
those
in
the
productive
chain
buy
their
accounts
receivable
from
each
other
or
lend
money
or
invest
money
in
the
other.
Using
blocks
as
the
trusted
intermediary
between
them,,
then
that
financial
intermediation,
without
the
existence
of
the
financial
intermediary
and
just
like
this
I,
have
everything
audited,
is
turning
green
I,
really
dare
to
say
that
not
a
month
goes
by
in
which
I
have
not
come
across
a
use
case.
That
seems
surprising
to
you
that
they
say
five
summers.
World
of
that
happened.
B
A
B
All
thank
you
very
much
for
drawing
an
excellent
table.
I
wanted
to
ask
you
if,
since
being
inside
ibm,
you
see
any
integration
of
hyper
lakers
fabric
with
cryptocurrency
systems,
as
there
is
hypers
fabri,
that
is
only
describing
law
to
be
and
always
remains,
as
latent
use
transactions
in
quito
as
proof
of
pain
meant
and
this,
and
although
it
can
be
done
through
code
outside
the
blog
in
knowing.
If
you
are
aware
of
whether
there
are
some
efforts
to
have
out
there,
let's
say
the
best
of
both
worlds.
No.
A
In
fact,
If
it
exists,
as
there
are,
there
are
two
levels
of
integration.
In
fact,.
Since
the
previous
version
of
fabric,,
there
was
already
the
possibility
of
making
a
certain
degree
of
integration
between
networks
of
what
is
called
directors
and
the
fabric
network,,
but
primarily
there
is
what
we
are
doing
was
converting
to
manufacture
in
the
transport
network
of
the
crypto
asset.
A
The
idea
of
worldwide
is
a
etwork
that
allows
you
today
to
reach
and
manage,
for
example,
that
it
has
t
o
independent
processors
that
have,
for
example,
their
own
'stable'
coin,
nd
that
they
can
use
fabric
for
t
e
purpose
of
sending
those
'stable'
coins
from
one
point
to
another,,
then
the
whole
issue
of
communication
is
increased
and
transportation
is
being
done
by
the
factory
when,
on
the
other
hand,
the
'stable'
coin
had
been
generated
on
its
own,,
so
it
is
not
a
very
rigid
or
very
established
of
nothing
else.
I
dare
is.
A
A
B
Great,
I
had
the
opportunity
to
be
an
integration
in
fabric,,
but
I
I
did
it
outside
and
used
the
results
of
stellar
transactions
as
part
of
the
executions
of
the
smartphone
trucks
inside
the
factory
and
I
found
out
about
the
project
that
is
from
worldwide.
It
is
very
interesting
in
truth.
It
is
very
interesting
now
the
next
question
with
what
are
you
explaining
version
2.0
of
the
fabric?
We
do
not
fall
into
what
you
spoke
of
the
principle
that
the
The
network
is
going
to
be
closed,.
A
A
The
specification
I
think
that
here
part
of
what
happens
with
facto
ok
is
that
in
the
same
group
of
how
it
goes
from
factory
realizes
and
that
there
is
a
need,
or
there
is
a
business
space
for
the
generalization
of
certain
forms
of
localization,
and
this
is
that
the
value
happens
through
the
possession
of
a
touch,
but
that
they
are
not
necessarily
associated
around
public
networks,
an
exercise
that
we
could
do
like
this.
For
example,
if
you
think
about
the
voucher
market,
vouchers
are
instruments
that
today
or
you
can
try
gasoline
or
grocery
vouchers.
A
So
I
am
not
seeing
today
a
fact
that,
as
a
competitor
of
an
active
fruit,
but
rather
I
am
not
seeing
maybe
as
an
exercise
that
could
work
very
well.
The
creation
of
crypto
securities.
These
values
experience
the
value
effect.
Total
y
I
think
there
is
a
factor
that
it
has
a
lot
of
space
where
you
can
move
around.
A
A
B
Guillermo
good
evening
baltasar
good
talk,
well,
I
was
wondering
about
this
side,
and
what
do
you
think
about
the
future
of
private
networks?
You
I
ask
this:
because,
well,
I
have
been
in
some
webinars
with
the
heads
of
the
ging
block,
for
example,,
erste,
niang
and
accenture,,
who
talk
a
lot
about
the
fact
that
the
future
of
blogging
is
more
on
the
side
of
public
and
semi-public
networks,.
So
we
have
been
seeing
that,
for
example,
networks
like
the
one
at
three
that
is
published
to
me
or
that
of
the
bid.
B
A
A
If,
you
see
how
telecommunications
networks
work,
today,,
it's
more
or
less.
The
same
concept.
You
can
be
on
a
telephone
provider's
network.
Through
that
network,
the
telephone
provider
only
has
value
if
it
allows
you
to
have
intercommunication
intercommunication
with
networks
of
other
providers.
In
order
to
have
coverage,
that
is,
today,
you
can
take
a
telephone
and
from
that
telephone
dial,
any
other
telephone
on
the
face
of
the
earth,
regardless
of
which
are
the
companies
that
So
they
are
operating
in
a
practical,
figure.
A
These
are
networks
that
are,
so
to
speak,
private
networks,,
but
they
are
interconnected
and
lead
to
a
kind
of
semi-public.
Network..
I
think
that
in
many
of
us
we
go
there,
for
example,.
Even
among
the
projects
ibm
where
we
have
networks
that,
for
example,
were
for
a
specific
purpose,
such
as
futures
for
some
things,
another
English
for
another.
We
are
looking
at
the
intercommunication
between
both
networks
to
create
networks
of
higher
capacity
in
that
network
from
higher
capacity
above
all
you
are
going
to
try
to
do
is
inter
combine
functionalities
out
there.
A
A
Then
a
private
network
that
is
based
on
the
sole
idea
of
being
entirely
priva
e
is
digging
its
own
grave
in
the
s
nse
that
it
is
not
allowing
the
idea
f,
being
able
to
promote
the
growth
of
developm,
nt
participants,
but
rather
promote
tha
is
the
number
of
participant
you
go
to
another
part
for
new
to
the
network.
That
does
promote
an
increase
and
that
increase
is
going
to
be
what
is
going
to
give
it
the
growth
that
is
going
to
allow
it
to
dominate
the
market.
So
maybe
there
is
a
more
conceptual
issue.
A
That
is
what
we
would
call
a
semi-public
network
from.
What
I
do
see
is
that
these
networks
are
going
to
have
to
be
networks
that
have
some
and
the
ability
to
allow
access
and
make
it
much
easier
to
join
them.
To
interconnect.
To
these
networks,
with
other
networks,
for
the
purposes
of
being
able
to
achieve
a
greater
combined
value
and
rather
I,
think
that
what
we
are
going
to
derive
a
lot
of
value
from
what
are
currently
the
private
permissioned
networks
is
exactly
the
right
of
permission
to
lie.
A
The
fact
that
you
can
to
have
traceability
simple,
but
that
it
can
continue
to
have
space
for
the
privacy
of
information,
because
it
is
attractive
if
it
provides
information,.
It
continues
and
will
continue
to
be
one
of
the
relevant
elements
for
many
years
to
form
value
chains,.
So
for
me,
what
is
private
is
not
so
much
what
is
public
important,
but
the
fact
that,
whatever
you
have
out
there,
that
can
help
promote,
on
the
one
hand,
growth
in
the
number
of
subscribers.