►
Description
The February edition of the Hyperledger FMSIG Mortgage Industry Subgroup update had the pleasure of having Kamlesh Nagware, co-chair of the Hyperledger India Chapter and CTO of Snapper Future Tech, visit and talk to us about the future of Hybrid Blockchain.
With Mortgage Industry Subgroup co-chair Marvin Bantugan as host and James Hendrick providing the update on the state of Blockchain in the mortgage industry.
Timestamps:
00:00 Welcome and presentation
02:25 Community information
03:25 Status of blockchain in the mortgage in the mortgage industry
12:55 Hybrid Blockchain with Kamlesh Nagware
30:00 Q&A
41:00 Closing Statements
Join the FMSIG Mortgage Subgroup Wiki: https://wiki.hyperledger.org/display/CMSIG/FMSIG+Mortgage+Industry+Subgroup
Subscribe to the mailing list to receive the latest updates: https://lists.hyperledger.org/g/financial-markets-sig
Follow the Hyperledger Financial Markets Special Interest Group LinkedIn page: https://www.linkedin.com/showcase/hyperledger-financial-markets-sig/
----
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License
Creative Commons Attribution license (reuse allowed)
A
Welcome
everyone
to
the
February
hyperledger
financial
markets,
mortgage
subgroup
meeting.
That's
always
a
mouthful
before
we
get
started.
I
always
like
to
express
our
appreciation
to
the
financial
markets.
Special
Industry
Group
that
we
fall
under
the
hyperledger
foundation
for
their
ongoing
support
and
making
this
group
possible.
As
I
said,
our
speaker
today
is
kamlesh
nagari,
who
will
be
discussing
hybrid
blockchain?
A
Sorry,
just
moving
a
little
too
fast
this
morning.
As
always,
please
note
that
this
meeting
is
being
recorded
and
is
Under
the
Umbrella
of
the
hyperledger
foundation.
So
we
ask
that
everyone
abide
by
the
antitrust
policy
and
the
code
of
conduct,
the
anti-charge
policy
that
we're
sharing
states
that
we
avoid
discussions
of
companies,
specific
products
and
projects,
don't
make
negative
remarks
about
other
companies
or
products,
and
the
code
of
conduct
means
that
we
treat
each
other
with
respect,
never
discriminate
and
communicate
constructively.
A
A
A
We
always
cover
this
slide
at
the
beginning
of
each
meeting,
and
this
is
to
reinforce
that
we're
all
on
the
same
blockchain
Journey
that.
But
we
may
be
at
different
points
along
that
Journey.
This
group
is
meant
to
help
everyone
on
their
blockchain
journey
and
to
demonstrate
the
feasibility
of
blockchain
Technology
through
mortgage
industry,
use
cases,
Define
potential
implementation
paths
for
the
mortgage
industry,
and
what
does
a
mortgage
company
need
in
order
to
implement
blockchain
and
just
to
talk
about
the
difficulty
or
challenges
of
implementing
blockchain.
A
Okay,
the
next
three
slides
I,
always
mention
for
those
that
are
new
to
the
group
or
would
like
more
information.
This
slide
provides
links
to
different
resources
for
the
Linux
Foundation
hyper
Ledger
Foundation.
The
mortgage
subgroup
is
second
from
the
bottom.
These
are
great
resources
and
we'll
reference
several
of
them,
but
I'm
not
going
to
spend
a
lot
of
time
on
these
slides.
A
If
you
do
want
to
access
these
resources,
this
slide
tells
you
how
to
get
a
Linux,
Foundation,
ID
or
lfid.
So
take
a
look
at
this.
Take
a
look
at
the
video
and
then
the
last
slide.
These
are
some
links
for
those
of
you
that
are
new
to
blockchain.
This
training
is
free.
This
is
how
I
got
knowledgeable
about
blockchain,
so
this
is
excellent
training
and
it's
free
so
with
that
I'm
going
to
turn
it
over
to
James
Hendrick
who'll
walk
us
through
the
state
of
blockchain
and
the
global
mortgage
industry.
B
Excellent,
thank
you
very
much.
Marvin
welcome
everybody.
Let's
go
ahead
and
move
on
to
the
first
slide,
so
we've
got
a
couple
great
articles
this
time
again.
All
of
these
articles
are
excessive
from
the
hyperledger
wiki
site,
but
first
off
touching
on
the
metaverse,
which
we've
talked
about
before
so
real
estate's,
always
been
considered
an
investment
for
passive
income,
but
now
there's
really
a
global
audience
interested
in
buying
property
within
the
metaverse
and
given
its
perspective,
size,
there's
a
huge
chance
to
generate
passive
income
in
this
area.
B
Owning
real
estate
and
renting
it
out
is
among
the
most
well-known
methods
for
generating
additional
income
within
the
metaverse.
You
know
previously.
We've
talked
about
decentraland
and
the
sandbox
as
an
example.
Unfortunately,
there
isn't
much
available
information
on
the
earnings.
Metaverse
landlords
are
currently
anticipating,
since
this
data
is
not
publicly
disseminated.
B
So
a
subnet
is
a
sovereign
Network
that
defines
its
own
rules
and
is
comprised
of
groups
of
validators
that
work
together
to
reach
consensus
on
one
or
more
blockchains.
Tokenization
is
a
growing
Trend
among
financial
institutions,
as
it
allows
traditional
Financial
players
to
attract
more
investors
by
using
blockchain
technology.
According
to
a
report
from
the
Boston
Consulting,
Group
and
Asia's
private
market
exchange,
the
asset
tokenization
industry
will
expand
to
a
16.1
trillion
dollar
business
opportunity
by
2030.
B
and
entain's
digital
Marketplace
automates.
The
functions
such
as
the
verification
of
agent
underwriting
rating
agencies,
servicer
trustee
and
the
investor,
so
according
to
the
company,
rather
than
replacing
trust
intermediaries
in
tane
markets,
integrates
them
into
a
singular
platform
and
process
to
enable
digital
issuance
and
investment
on
chain
and
the
company's
first
platform.
B
Entain
admin
currently
administers
over
5.5
billion
dollars
in
assets
and
then,
lastly,
we've
got
a
new
survey
from
Casper
labs
and
zobe
analytics,
really
kind
of
revealing
the
sentiment
around
blockchain
adoption
and
how
it
is,
having
you
know,
a
positive
influence
among
Enterprises.
The
poll
was
conducted
with
over
600
as
positive.
B
Excuse
me,
the
coldest
the
poll
was
conducted
with
over
600
Business
Enterprise
decision
makers
in
the
US
UK
and
China,
and
ninety
percent
of
those
businesses
surveyed
reported
deploying
blockchain
technology
in
some
capacity
with
87
percent,
saying
they
plan
to
invest
in
blockchain
in
the
next
year
in
China,
over
half
of
the
respondents
plan
to
invest
in
blockchain
in
2023..
So
where
do
the
Enterprise
leaders
fall?
Short
blockchain
is
not
crypto.
B
The
message
that
we've
been
carrying
out
for
the
last
several
months,
despite
73
percent
feeling
confident
in
their
knowledge
of
blockchain
Technology
54
of
the
respondents,
still
see
the
terms
blockchain
and
crypto
as
interchangeable.
And
that's
you
know
really
what
organizations
like
this
is
all
about,
because
education
is
the
biggest
Challenge
and
barrier
for
those
outside
of
the
blockchain
space
wishing
to
interact
with
the
technology
and
communicate
with
their
clients
on
an
educated
basis
about
it.
B
A
few
other
interesting
stats
out
of
this
article
businesses
already
utilizing
the
tech
are
benefiting
from
two
of
its
main
capacities:
security
and
copy
protection
at
42
percent
reporting
in
and
I
T
based
operations
are
using
blockchain
for
internal
workflows
at
40
percent
supply
chain
efficiencies
at
34
percent
and
software
development
at
30
percent,
among
others,
and
next
slide.
Marvin.
A
A
It
walks
through
how
we
assess
the
business
opportunity,
but
within
the
mortgage
industry,
how
we
took
a
look
at
the
different
potential
platforms
and
chose
hyperledger
Fabric
and
then
how
we
utilize
the
different
tools
that
hyperledger
makes
available
like,
for
example,
the
sample
use
cases
we
started
off
with
those
that
was
a
real
great
experience.
It
got
our
team
up
and
running.
It
helped
us
set
up
our
own
blockchain
lab,
and
then
we
started
to
take
those
learnings
and
apply
it
to
specifically
the
mortgage
industry.
A
We
created
our
own
proof
of
concept
and
we
we
actually
went
through
a
series
of
proof
of
Concepts
and
that's
one
of
the
things
we
outlined
within
that
article.
We
went
through
our
three
different
proof
of
Concepts,
and
then
we
talked
about
how
we're
now
applying
those
learnings
to
our
own
blockchain
mortgage
application.
A
A
lot
of
the
learnings
are
listed.
There
take
advantage
of
the
open
source
Community,
have
a
lot
of
discussions
on
architecture,
monitor
your
processing
requirements
and,
of
course,
test
test
tests
and
then,
when
you're
done
test,
some
more
so
I
I
think
this
was
a
a
really
good
article.
I
am
putting
my
own
Hornet
a
little
bit.
It
was
a
lot
of
fun
to
write
and
please
take
a
look
at
it
and
hopefully
it
helps
you
out.
B
Yeah
Marvin
you're
definitely
not
tooting
your
horn
loud
enough
on
this.
This
is
really
a
fantastic
article.
If
you're
looking
about
hey,
where
should
I
start?
What
are
the
things
that
I
should
be
thinking
about,
and
you
know
what's
that
Journey?
What's
that
road
going
to
look
like
for
us,
Marvin
does
a
fantastic
job
here
of
walking
through
what
we've
we've
been
doing.
B
And
just
as
a
reminder,
here's
a
copy
of
our
Wiki
site,
along
with
the
URL
down
at
the
bottom
I'll,
actually
pop
that
into
the
chat
right
now
for
easy
access.
So
all
of
the
articles
that
we
have
covered,
including
Marvin's,
you
can
access
directly
on
the
right
hand,
side
over
on
the
left
hand,
side
as
Marvin
mentioned,
we've
got
the
minutes
and
the
recordings
from
all
of
our
previous
presentations
going
back
to
2021.
So
do
you
know,
take
the
opportunity
to
access
them
there.
B
We
also
have
down
there
near
the
bottom,
the
previous
mortgage,
blockchain
research
that
we've
been
doing
so
articles
that
are
about
three
to
four
months
old
I
start
moving
over
there
and
I
keep
the
most
recent
articles
on
the
right.
We
have
curated
a
large
library
of
Articles.
You
know
we're
probably
running
well
over
200
now
over
the
last
year
and
a
half.
A
Hey
thanks
James
next
I
would
like
to
introduce
you
to
kamlesh
naguari
he's
the
CTO
of
blockchain
at
Snapper.
Future
Tech
I
had
the
pleasure
of
working
with
Tom
lesch
at
the
2022
IEEE
Global
and
working
emerging
technology
conference.
He
has
12
years
experience
in
software
development,
I.T,
Consulting
and
blockchain.
C
Yeah,
so
thank
you,
Marvin
and
James
for
inviting
so
I
think
you
are
kind
enough
to
talk
about
my
latest
blog.
So
as
a
because,
every
by
week,
I
every
by
week,
I
write
some
news
later
about
the
blockchain
adoption
and
blockchain
trends,
and
this
week
I
wrote
about
hyper
hybrid
blockchain
because
in
the
in
the
recent
I
think
from
last
I
think
global
forum.
There's
lots
of
talk
about
the
hybrid
blockchain
at
the
global
foreign.
C
So
I
think
hybrid
blockchain
is
growing
and
there
are
there
are.
Maybe
people
are
using,
but
maybe
they
are
not
knowing
so
can
I
share
my
screen,
so
I
can
talk
present
it.
Yes,
so
I
think
it's
my
thought
process
and
my
I'm
not
that
much
expert
in
the
hybrid
thing,
but
at
least
what
we
are
doing
at
the
company
level
and
what
each
actually
so
maybe
you
will
get
some
idea.
So
first
I
will
talk
like
I
just
written
this
particular
newsletter.
C
The
future
is
hybrid
blockchain
and
this
is
under
my
thought
process
and
how
the
blockchain
is
moving
toward
public
private
to
now
hybrid
and
some
use
cases,
and
some
kind
of
case
studies
and
I.
Think
and
I
think
this
is
recently
also
hyperledger
posted
on
the
hyper
Ledger
foundations.
Linkedin
Twitter
handles
so
anyway.
I
have
my
presentation,
which
I
created
just
today
only.
C
And
I
think
before
that
I
Jim's
concerned
about
this
in
10
market,
so
I
think
how
the
technology
maturing
and
becoming
a
production
grade.
So
even
I
I
I
was
the
first
employee
when
they
offered
me
to
join
that
company.
They
intent
I,
know
the
founder
and
see
you
very
well
in
my
personal
touch.
So
he
offered
me
to
join
his
company
this
in
10
in
2017.,
and
now
we
see,
like
you
know,
he's
featured
and
now
having
a
in
the
production
grade.
C
Implementation
I
think
they
are
using
the
hypology
fabric
and
now
exploring
the
other
other
blockchain,
and
this
is
because
we
can
see
that
this
Intel
itself
is
a
hybrid
blockchain
kind
of
because
for
a
few
of
the
component,
they
are
using
the
hyperledger
fabric.
And
now
they
in
this
intent.
Market
is
a
part
of
the
launcher,
blockchain
and
they're
also
doing
with
other
public
blockchains
too.
C
So
I
think
this
kind
of
combination
of
blockchain
solution
is
kind
of
hybrid
blockchain,
so
foreign
blockchain,
why
hybrid,
blockchain
and
use
cases
so
typically
is
a
combination
of
both
actually
so
in
the
one
solution
in
some
particular
piece
or
the
feature:
are
you
using
the
private
blockchain
permission,
blockchain
like
fabric
R3
code
Quorum
or
any
other
such
kind
of
permission
blockchain,
and
for
few
sectional
Academy?
Is
there
some
features
of
the
same
problem
solved
using
the
public
blockchain?
C
So
this
combination
of
using
the
public
and
private
blockchain
called
a
hybrid
blockchain?
Actually,
so
you
can
utilize
both
both
beauties
of
the
a
bit
of
both
blockchain.
So
you
can
use
the
transparency
and
security
of
public
blockchain
and
permission
permission
and
control
and
privacy
of
the
private
blockchain,
because
in
some
organizations
some
use
cases
we
need
the
privacy
and
the
security
is
the
main
goal
and
don't
want
to
share
the
data
outside
to
the
particular
organizations
need
and
some
of
the
data
use
cases.
C
You
need
the
want
to
utilize
the
public
blockchain,
whether
it's
a
liquidity
purpose
or
maybe
bringing
the
more
transparency
for
the
public
goods
or
public.
So,
like
nowadays,
I
think
organization
is
a
or
using
both
kind
of
combination
together
for
solving
the
problems.
Even
we
are
one
of
the
surprising
solution.
We
are
using
the
same
thing
so
for
end-to-end
traceability
of
the
product.
C
We
are
using
the
hyper
the
fabric
and
then
tokenizing
that
assets
and
product
information
we
are
using
the
polygon,
blockchain,
so
I
think
this
is
a
kind
of
flavor.
We
can
say
the
hydro
blockchain.
So
why
now
have
Enterprise
agency
going
towards
the
hybrid
blockchain?
So
my
thought
process
is
couple
of
point.
One
is
flexibility
because
a
couple
of
organizing
thing
like
they
need
the
privacy
and
control,
but
some
point.
They
also
need
some
kind
of
transparency
or
allowing
public
participant
to
take
in
the
their
their
business
processes.
C
So
this
is
one
reason
and
another
reason:
I
have
seen
many
organizations
even
actually
running
a
private
blockchain
in
unknowingly.
Now
they
even
incorporating
all
kind
of
this
public
blockchain
combination,
like
I
mentioned
in
the
supply
chain
perspective
like
a
traceability
of
the
real
world
assets
and
then
tokenizing
reversal
in
a
in
a
public
blockchain,
because
I
think
when
we
see
the
public
and
private
blockchain
both
work
usability
in
the
UI
of
public
blockchain
is
very
good.
Like
suppose,
if
you
want
to
do
this
tokenization,
then
evm
blockchain
is
best.
C
You
come
forward
with
direct
wallet
application,
good
UI
experience,
no
need
to
be
right
about
the
infrastructure
and
infrastructure
is
a
code
deployment.
So
you
just
need
to
write
your
smart
contract
and
integrate
with
your
front
end
and
you
are
done,
but
in
the
permission
blockchain
you
do
lots
of
governance
and
lots
of
things
to
be
maintained.
C
So
that's
why
people
are
organization
is
moving
toward
the
using
of
both
Technologies.
Another
is
the
security
and
privacy,
so
some
kind
of
like
some
organization
Enterprises,
want
to
control
some
data
points,
whether
even
like
we
know
like
there
are
many
block
public
blocks
and
also
talk
about
the
ZK
page.
You
know
knowledge
group,
but
it's
still
supposedly
following
some
gdpr
compliances
or
even
even
organization,
is
not
comfortable
to
share
the
data
outside.
C
They
they
don't
care
whether
the
private
blockchain
is
required
or
public
blocks
is
required.
If
customer
is
happy
and
comfortable
to
and
whatever
the
customer
need
now
they
can
customize
using
these
both
tools
together,
another
scalability.
So,
if
sorry
so
in,
when
we
have
private
permission
blocks
and
then
skip
ability
in
your
control,
how
many
organization,
how
many
participants
you
want
to
manage,
you
could
govern
that
thing.
C
So
in
such
solution,
where
you
required
such
kind
of
thing
where
you
want
public
blockchain,
but
also
need
the
stability
of
solutions,
then
you
could
enable
this
kind
of
solutions
interoperability.
So
that
is
another
thing.
So,
let's
say,
for
example,
there
is
a
supply
chain,
financing
kind
of
thing
where
supply
chain
you
are
doing
some
into
interestability
of
your
material
and
then
want
to
finance
the
particular
supplier
for
that
payment,
so
that
maybe
both
are
separate.
C
Network
could
be
there,
maybe
on
the
same
technology
or
maybe
on
this
different
from
blockchain
so
and
I.
Think
that's
why
this
high
pressure
character
has
cacti.
We
were
another
interruptivity
blockchain
products
is
emerging
because
now
now,
for
the
interoperative
perspective,
people
are
using
the
hybrid
blocking
concept
where
they
are
taking
some
certain
things.
You
know
one
blockchain
and
then
remaining
in
a
different
blockchain,
another
complacent
regulation,
so
that
that
is
about
like
GDP
or
other
kind
of
privacy
that
are
comparison.
C
Regulation
or
our
other
thing,
for
example,
still
there
are
not
clear
about
the
crypto
regulations,
digital
asset
regulation
in
a
in
a
mostly
most
countries.
So
in
that
kind
of
scenarios
you
can
go
with
a
customer
to
implement
the
private
blockchain,
for
example,
and
isn't
it
not
kind
of
regulatory
constant,
for
example,
because
it's
an
object
of
no
crypto
involved
and
for
the
other
stuff
you
can
use
the
public
blockchain.
So
I
think
this.
These
are
the
few
reasons
where
I
think
my
Enterprises
are
looking
at
the
hybrid
blockchain
kind
of
solution.
C
So
because
you
know
we
are
talking
in
the
financial
services
working
group,
so
why
I
put
some
point
like
how
the
mobile
blockchain
could
be
beneficial?
It
could
be
game
changer
for
financial
services,
because
in
financial
services
are,
is
a
very
complex
word.
There
are.
There
are
many
regular
regulations.
There
are
lots
of
different
compliances
come
in
the
picture
and
mostly
a
blockchain
nowadays
used
in
the
financial
services
sector.
C
So
this
is
the
reason
and
I
mentioned
couple
of
use
cases
where
some
of
us
in
production,
something
is
happening
like
Suppose.
There
is
a
xdc
network
from
zinc,
so
they're
having
a
some
interoperable
blockchain
Network
for
Global
training
Finance.
So
there
are
digitization
and
other
digital
transformation
process
happening
on
the
quorum,
blockchain
and
then
tokenization
and
the.
C
Blockchain
on
ethereum,
so
this
is
one
of
the
kind
of
case
study
there.
I
think
there
are
many
such
another
kind
of
used,
cbdc,
so
I
think
there
are
cbdc.
There
are
multiple
I
think
almost
100
and
14
countries
working
on
cbdc
and
there
are
different
different
architecture,
different
different
business
models.
C
C
Another
kind
of
incidence
use
cases
so
even
I.
Think
day
before
yesterday,
I
joined
the
climate,
Edition
accounting
Sig,
so
there's
a
kind
of
Agriculture
Insurance
where
you
I
think
they
are.
They
are
kind
of
using
a
both
combination
where
they
are
using
a
private
blockchain
in
somewhere
to
record
the
end-to-end
transaction
details,
and
then
carbon
credit
or
insurance
settlement
happening
on
a
on
a
on
a
public
blockchain
like
polygon
and
even
this
payment
settlement
process.
Also,
they
have
enablement
on
to
use
the
both
kind
of
blocks.
C
C
Another
use
cases
in
like
kyc
ml
kind
of
thing
where,
where
can
storing
and
sharing
the
kyc
details
can
be
done
on
a
privacy
and
sense
kind
of
control.
Environment
in
the
at
the
banks
are
in
institution
site
and
then
maybe
for
bringing
the
kyc
AMR
at
the
broader
level
is
a
common
kycaml
model.
It
could
be
open.
It
is
a
public
blockchain
model,
so
is
not
public
blockchain
is
like
really
public.
C
Blockchain
like
polygon,
ethereum
Maybe,
you
can
say
to
the
governance
of
your
ex
your
private,
blockchain
or
console
blockchain
is
a
open
network
where
you
can
open
some
kind
of
apis
and
then
other
participant
can
access
the
network.
So
it's
not
necessarily
like
hybrid
blockchain
is
always
public
blockchain
and
private
blockchain.
C
It
could
be
private
blockchain
framework,
but
in
the
governance
side
you
could
set
up
in
whatever
we
want
to
set
up
certain
part
of
the
network
or
certain
part
of
the
solution
in
the
completely
controlled
and
permission
environment
and
some
of
the
transaction
and
the
processes.
You
know
publicly
domain
kind
of
thing
so
and
I
think
this
I
have
taken
from
this
capture,
Casper
labs
and
recent
study.
They
did
like
so
how
the
currently
the
blockchain
wise
that
option
is
happening.
C
C
Public
blockchain
but
majority
of
using
the
hybrid
blockchain
so
and
then
this
is
done.
The
survey
on
the
600
organizations
globally
by
custom
lips
so
I
think
and
that's
why
I
I
think
like
hybrid
blockchain,
is
going
to
the
going
to
be
the
game
changer
for
adoption
of
Technologies,
because
because
now
even
there
are
many
customers,
even
I.
C
So
you
could
use
the
public,
private,
blockchain
or
private
blockchain
into
both
permission
or
permissionless
setup,
okay,
to
create
the
customer,
oriented
use
cases
and
I.
Think
that's.
Why
will
you
like
heavy
blockchain
is
going
to
be
next
a
thing
and
I
think
I?
Think
that's
why
even
high
Pillager
foundation
and
many
other
blockchain
communities
now
started
talking
about
hybrid
blockchain,
So
yeah.
Thank
you.
So
any
question.
A
B
Hey
come
watch,
I
have
a
question,
so
you
know
with
this
group
in
the
past,
we've
talked
about
consortiums,
you
know,
groups
of
banks
or
other
institutions
coming
together,
and
you
know
working
on
a
solution
and
I
think
your
case.
Studies
that
you
showed
here
are
an
excellent
way
of
demonstrating
that
you
know
when
you
think
about
consortiums.
You
think
about
companies
coming
together
to
do
this.
What
are
some
of
the
biggest
challenges
they
can?
You
know
anticipate
that
they
need
to
address
When
developing
a
hybrid
blockchain.
B
C
Yeah,
how
do
you
build
up
an
operator
hybrid
block
system,
so
I
can
in
hyper
Ledger
I
think
we
have
a
project
called
like
hyper
projectors,
so
I
think
this
is
the
I
think
the
best
framework
and
protocol
to
implement
such
kind
of
thing
so
because
in
hybrid
cacti
support
the
multiple
blockchain
framework
fabric,
artery
Coda
or
ethereum,
or
other
any
kind
of
public
options.
So
and
recently
this
Mars
with
this
hyperledger
viewer
Labs.
It
also
offer
the
some
other
kind
of
interactivity.
C
A
Yeah
good
accomplish
I'm
glad
you
mentioned
Firefly
in
response
to
Daniel's
question
Daniel
I
highly
recommend
using
Firefly,
because
it
sets
up
quote
unquote
the
plumbing
for
hyper
Ledger
fabric.
When
we
switch
to
Firefly
it
made
our
proof
of
Concepts
that
we
were
building
so
much
easier.
It
really
helps
you
get
to
that
next
level
if
you've
already
done
ethereum
by
hand-
and
you
want
to
build
something
larger
with
firefly.
Definitely
do
so.
A
A
Okay,
I
did
have
a
question
for
you,
because
one
of
the
things
that
we've
been
starting
to
hear,
especially
within
the
financial
services
industry,
is
increased
interest
and
tokenization
you.
You
spoke
a
little
bit
about
tokenization
being
used
in
a
hybrid
blockchain.
Can
you
speak
a
little
bit
more
about
that,
because,
when
I
think
about
tokenization
in
hybrid
blockchain,
some
of
the
questions
that
pop
into
my
mind
and
maybe
they're
not
appropriate
questions-
is,
does
the
token
live
on
the
private
blockchain
on
the
permission,
where
is
it
created?
C
So
I
think
I
think
it's
depend
on
the
cust
use
case
to
use
cases
where
I
think
maybe
tokenization
I,
think
organization.
Some
kind
of
way
of
digital
representation
of
your
asset,
so
protocol
doesn't
matter
is
a
public
or
private.
You
could
do
that
thing
if
your
customer
or
you
consume.
Your
client
is
okay
to
having
a
permission
blocking,
because
even
we
Face,
sometimes
when
the
customer
wants
the
tokenization
on
the
primation
blockchain
too.
So
that
can
be
then
also
but
I
think
mostly
tokenization
people
use
mostly
part.
C
They
are
going
to
the
liquidity
kind
of
settlement
kind
of
thing.
So
on
that
I
think
public
blockchain
is
the
right
right
thing
to
do,
but
sometimes
tokenization.
You
are
also
using
internally
for
your
business
process,
perspective
yeah.
So
on
the
time
it
doesn't
matter
whether
you're,
using
a
permission
or
a
public
blockchain.
C
But
if
your
tokenization
is
for
the
public
or
consumer
facing
side,
then
I
think
public
blockchain
is
the
right
thing,
because,
because
I
just
mentioned
in
this
starting,
like
you
user
interface
and
the
Simplicity
user,
experiences
I,
think
still
challenging
for
the
permission
kind
of
blockchain,
because
you
need
to
take
care
all
the
things
about
about
the
transaction
signing
to
the
wallet
and
digital
signature
all
need
to
be
taken
care
by
the
developer,
but
in
the
public
blockchain
all
is
there.
You
just
need
the
politics
extension
in
your
browser
and
can
manage
it.
A
C
Information,
you
could
do
on
a
your
permission,
hypology
regarding
some
data
points
about
the
your
accounting
of
the
particular
information
and
then
tokenization.
You
could
read
this
data
via
the
any
interoperable
framework
like
cacti
or
other
thing,
and
read
this
data
and
pass
to
the
your
public
blockchain
endpoint
to
tokenize
it.
This
way.
A
C
A
Okay,
I
do
have
one
last
question
and
it
regards
the
processing
costs,
because
what
we
found
in
our
proof
of
concept
is
the
processing
cost
can
be
significant
either
from
an
AWS
perspective.
If
you,
if
you
have
your
blockchain
there
or
if
you're,
using
one
of
third-party
providers
of
different
blockchain
technology,
I
mean
there
can
be
licensing
and
processing
costs
from
that
perspective,
it
our
processing
costs
expected
to
be
higher
for
hybrid
blockchains,
because
now
you
have
public
and
permission.
So
what
are
your
thoughts
on
that.
C
C
It
depends
on
the
days
fees
in
the
transaction
fees
on
the
public
blocks
inside
okay:
listen
to
this,
the
ipv
ipv
ipwe
I
think
they
have
done
some
kind
of
hybrid
blockchain
for
25
million
nfts,
so
they
are
doing
I.
Think
is
available
in
recently
announced
in
the
DeVos
meeting.
So
there
is,
they
have
minted
around
25
nfts
of
public
blockchain
and
they
are
using
this
information
on
a
some
hyper
area
fabric
based
blockchain.
So
then
I
think
this
kind
of
examples
are
many
where
companies
are
using
this
kind
of
setups.
C
A
Okay,
I
think
that's
all
the
questions.
Kamlesh.
Thank
you
for
joining
our
group
and
your
contact.
Information
is
in
that
presentation.
We'll
share
it
with
the
rest
of
the
team
afterwards.
So
if
anyone
would
like
to
contact
kamlesh
with
any
other
questions
or
just
to
exchange
information
that
will
be
available,
so
thank
you
again,
calm
life.
We
appreciate
you
speaking
with
us
today.
Yeah.
A
A
I,
don't
know
if
there's
any
future
topics
that
people
in
the
audience
would
like
us
to
address
in
the
future,
but
I
just
want
to
open
it
up
to
the
team.
So
if
there
are
any
topics
that
you
would
like
us
to
address
by
all
means,
let
us
know-
and
we
can
definitely
add
those
to
the
agenda
I'm,
reaching
out
to
additional
speakers
that
can
join
us
in
in
the
future.
A
We'll
continue
to
talk
about
business
cases,
we'll
have
technical
demonstrations,
knowledge,
sharing
and
I
know.
One
of
the
items
from
last
year
that
we
didn't
get
a
chance
to
address
is
getting
someone
from
one
of
the
regulatory
bodies
or
compliance
agencies
to
come,
speak
with
us,
I'm
still
working
on
that
and
that's
at
the
top
of
my
list.
A
If
anyone
on
this
call
has
any
contacts
that
we
could
speak
to
by
all
means,
let
me
know-
and
we
will
add
that
to
the
Future
I
would
like
to
open
it
up
to
the
rest
of
the
team
to
just
see
if
there
are
any
additional
questions
either
for
myself
James
anyone
else
on
this
event,
test
team
or
com
Lesh.
So
just
one
last
query
for
any
questions.
D
Yeah,
hey
guys,
I'll,
come
off
mute
and
ask
a
question:
Lucas
Whaley
I'm
at
Lima,
one
Capital
we're
a
private
business
purpose
lender.
Are
we
seeing
any
movement
or
use
in
the
in
in
blockchain
for
I
guess
dealing
with
counterparty
complexity
with
whole
loan
sales
so
from
from
Warehouse
to
you
know
other
counterparties
to
ultimately
do
securitization.
D
A
Within
the
hyperledger
community,
I
don't
know
if
anyone
is
actually
using
hyperledger,
specifically
for
that,
so
I
can
double
check,
but
the
closest
that
I've
heard
of
was
lender
blocks
they're
up
in
the
Bay
Area,
their
CEO
is
Paul
Bowen
and
he
he
joins
us
on
occasion.
So
I
I
can
put
you
in
touch
with
him.
If
you'd
like
okay.
A
A
Okay,
guys
I
think
that
that's
it.
Thank
you
very
much
for
joining
us
in
this
session.
Here
is
our
contact
information
for
anyone
that
would
like
to
contact
us
with
any
questions
or
any
additional
comments.
Please
let
us
know,
please
join
us
for
the
next
hyperledger
session.
This
takes
place
the
second
Thursday
of
every
month
and
with
that
I
will
end
it.
Thank
you
for
attending
give
you
guys
15
minutes
back
to
your
day
and
Tom
Lash
again,
thank
you
for
joining
us.