►
Description
The challenge of serving tokenized assets in a distributed manner without any counterparties becomes one of the important tasks for the industry. Handling of private keys by legal entity means that not legal entity handles it, but exact employee or hardware of this legal entity. Balances on accounts, handled in blockchain, need to be verified for smart contract dependencies by lawyers who can read the code. Distributed mechanisms of identification and KYC/AML servicing becomes more and more complicated with GDPR requirements and risks of cyphoning of personal data. Competitive organizations are very sensitive about their data and their customer data and do not want it available to competitors and, as a result, are wary to join any shared network. This has been a sticking point for adoption. Soramitsu, Moscow Stock Exchange and Monetago have some experiences that can help everyone with answering the question of how do we make decentralization acceptable?
----
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 #HyperledgerGlobalForum2018 #Blockchain
A
One
okay,
so
hello,
everyone
and
welcome
to
this
panel,
which
focuses
on
one
of
the
stickiest
points
affecting
blockchain
mass
adoption,
data
sharing
and
making
the
centralization
acceptable.
My
name
is
Archana
Bhagwan
part
of
sa
peace,
core
blockchain
team
and
I
Drive
blockchain
business
development
activities
for
SME
customers.
So
we
often
say
blockchain
is
a
team
sport,
but
in
an
enterprise
setting
we're
competitive
organizations
are
actually
supposed
to
Jane
to
join
a
share
network.
A
Proof
of
history
use
cases
which
yes
can
give
a
lot
of
efficiency
gain
to
organizations,
but
they
are
not
truly
the
revolutionising
cross
company
collaborations
so
to
discuss
this
and
more
I'm
very
pleased
to
introduce
my
impressive
fellow
panelists
so
from
my
right.
Alex
Yakovlev
he
alex
is
the
head
of
the
blockchain
lab
at
moscow
exchange
and
also
the
co-founder
of
d3
ledger.
The
global
ecosystem
for
safe
keeping
settlements
and
servicing
of
digital
assets.
Alex
brings
15
years
of
experience
in
the
IT
industry
and
is
the
architect
behind
several
deployments
that
involve
fabric
and
Arahama.
A
Welcome
Alex
to
his
right,
Dmitry
Dmitry
Baranov
is
the
city
of
secure
key
Dmitry
also
brings
18
years
of
experience
in
IT
and
security.
Security
is
the
company
that
aims
at
building
trusted,
identity
works
and
it's
an
identity
and
authentication
provider.
Jesse
from
Juanita
go
he's
quite
famous
here
around
like
being
chased
from
journalists.
A
Focusing
on
financial
services
on
the
financial
services
industry
and,
last
but
not
least,
Alice
chief
Kovich
Irish
is
the
city
of
ceramic
slabs
and
also
a
part-time
instructor
and
Penn
University.
For
those
of
you
that
don't
know
Sarah
made
slabs,
they
are
actually
the
first
contributors
behind
the
I
Roja
project
in
hyper
ledger.
A
Irish
is
also
bringing
twenty
years
of
IT
experience
based
out
of
Annapolis
Russian
yeah,
and
he
is
also
responsible
for
contributions
to
the
IRA
hot
project
so
to
kick
this
off
in
a
very
direct
but
also
kind
of
personal
way,
its
end
of
2018
right.
So
what
is
your
most
proud
contribution
towards
making
distance
realization
acceptable
to
minutes
each?
If
possible,
you
can
kick
it
off.
B
Okay,
actually,
my
only
contribution
is
a
technology
that
we
have
in
hypervisor
products.
To
be
honest,
we
done
a
lot
of
drops
with
fabric.
We
issued
several
commercial
bonds
to
real
settlements,
to
real
life
cycle.
We
implemented
zero
knowledge
proof
to
fabric
in
terms
of
our
voting
platform
for
shareholder
meetings,
and
also
we
work
in
a
lot
with
hyper
larger
Aroha
to
adopt
it
to
make
a
kind
of
a
global
account
management
system
instead
of
local
ones.
So
that's
it.
C
Yeah,
so
we
have
been
working
with
identity
for
many
years
in
security
and
with
identity
Federation's,
and
we
started
to
look
into
how
we
can
use
the
decentralized
technologies
about
three
years
ago
ended
up
building,
very
interesting
implementation
on
top
of
hypervisor
fabric
and
I
guess
the
whole.
Last
year
we've
been
offering
some
improvements
to
fabric
that
actually
came
into
production
versions
or
general
availability
versions
of
fabric,
which
was
fantastic,
but
also
we
prepared
to
launch
a
Canadian
identity
ecosystem
with
a
lot
of
industry,
public
and
private
players,
which
is
being
launched
right
now.
C
D
Yeah,
thank
you
very
much
for
the
introduction,
Arianna.
So
I
guess
I.
Unlike
these
folks,
we
haven't
contributed
as
much
on
the
code
side,
but
we
definitely
have
been
evangelizing,
DLT
and
blockchain.
Quite
quite
broadly,
I
actually
quite
often
say
that
it's
not
the
technology
that
that's
the
issue.
It's
really.
How
do
you
get
everyone
to
the
table
and
provide
something
that
isn't
just
proof
of
concept?
Isn't
just
a
pilot,
but
that
can
provide
real
value
today
and
that
they'll
pay
you
for.
D
So
when
we
launched
our
fraud
mitigation
network,
it
was
initially
four
three
three
customers,
maybe
basically
eliminated
duplicate
financing
of
invoices.
What
we
learned
was
that
there
was
a
problem
across
the
entire
industry,
so
we
wound
up
opening
up
that
network
to
the
entire
finance
industry
in
India
and
then
now
we're
replicating
that
amongst
different
geographies.
E
Yes,
sir,
a
meter
is
a
blockchain
company,
so
whatever
we
do
is
to
some
extent
contributing
to
that,
but,
as
it
was
mentioned
in
the
introduction,
so
we
developed
initially
then
open
sourced
and
it
was
adopted
by
the
hyper
ledger:
the
blockchain
platform
Aroha,
which
will
now
reach
the
first
final
version
in
probably
end
of
December
January.
That
was
a
huge
effort,
but
we
are
also
using
Iroha
for
our
enterprise
use
cases.
One
is
with
the
central
bank
in
Cambodia.
E
A
Wonderful,
that's
it
so.
The
enterprise
audience
might
be
often
wondering
whether
decentralization
trade
offs
made
to
preserve
or
I'd
better,
say,
hight
business
relationships
between
partners
sitting
on
the
same
ledger,
whether
those
trade
offs
are
still
superior
to
a
centralized
approach.
Should
that
ever
be
a
great
among
network
participants.
So
how
much
decentralize
do
we
need
to
be
in
permission
network?
A
D
So
the
initial
participants
were
three,
so
it
you
know
it
was.
It
was
pretty
easy
to
get
them
all
to
come
to
the
table.
Now,
as
we've
started
to
open
the
network
up
to
two
other
participants,
you
know
it's
become
sort
of
the
question
of
how
many
nodes
do
we
need?
Do
we
have
agent
nodes
or
do
you
know,
does
everybody
need
a
strict
node
hosted
by
them?
D
And
you
know
we
actually
had
a
discussion
with
someone
from
the
UN
about
sort
of
the
ethical
humanitarian
deployment
of
blockchains,
and
you
know
they
were
going
down
the
path
with
aetherium
and
I
said:
look
you
don't
you?
Don't
necessarily
need
to
have
an
open
public
locks
in
for
this,
if
say
the
Red
Cross
and
the
UN
and
say
that
the
NGO,
that's
that's
running
the
project
are
all
hosting
nodes.
That's
pretty
much
enough!
Decentralization
and
and
distribution
of
the
data.
What.
D
A
Like
straight
out
of
silk,
so
not
very
far
away
from
Basel
I,
remember
the
attack
French
gathering
sometime
in
July
flat
Sanford
talked
about
governance
and
we're
not
still
there
in
Prague
very
recently
at
DEFCON.
It
was
more
or
less
the
same
argument.
What
about
permission?
Networks
like
how
even
with
three
participants
like
how
is
governance
actually
structured
there,
because
if
we
would
perfectly
be
decentralized,
that
would
also
be
mirrored
in
the
governance
and
in
like
rules
that
yes
incentivize
founding
members,
but
don't
discourage
others
to
actually
join
yeah.
D
So
so,
because
factoring
in
India
is
a
regulated
function,
you
need
to
have
a
certificate
of
factoring
from
the
Reserve
Bank.
So
that's
pretty
much
the
bar
for
if
you
want,
if
you're
able
to
join
the
network
in
terms
of
governance,
we
did
come
across
the
problem
that
we
had
initially
deployed
this
for
just
three
customers
and
didn't
really
anticipate
opening
it
up.
So
when
we
did
get
interest
from
other
people
to
join
Network,
we
had
to
go
back
to
the
original
founding
members
and
sort
of
say
hey.
D
If
we're
thinking
of
opening
it
up
and
they
sort
of
said
well,
what's
in
it
for
us,
so
we've
we
basically
cut
them
in
on
on
a
rev
share
for
new
customers
to
the
point
where
I
don't
think
it'll
ever
be
a
big
revenue
center
for
them,
but
it'll
look
effectively
beep
because
they
were.
The
founding
members
means
that
they're
gonna
have
pretty
much
free
access
at
the
end
of
the
day.
Yes,.
A
C
In
my
opinion,
and
in
our
experiences
it's
definitely
wanted
and
it's
definitely
I
can
be
implemented
and
I
I
hate
to
be
a
self-promoter
right,
but
I
know
one
such
implementation,
but
the
interesting
part
is
it's
at
some
point
and
while
preparing
even
for
this
session
rate,
looking
into
some
articles
where
people
were
saying
this,
all
this
blockchain,
what's
the
hype,
why
we
invest
in
money
in
this
for
ten
years,
where
the
real
implementations
there
are
few
very
important
points.
The
technology
when
it
started
many
well
some
time
ago,
was
in
its
infancy.
C
Corporate
players
will
be
looking
into
or
in
large
government
players
will
be
looking
at
how
fast
and
how
performant
and
how
efficient
those
networks
are,
and
then,
when
those
releases
are
proven
to
be
stable,
the
implementation
cycle
kicks
in
an
implementation
cycle
in
all
these
three
areas,
such
as
Kiev,
AC
or
health
or
and
others.
It
takes
time
it
takes
time
to
for
the
bank
to
get
to
the
key.
We
see
scenario,
no
matter
what
they
do.
It
takes
time
for
them.
C
Typically,
the
government
health
regulator
to
understand
what's
going
on
with
any
health
blockchain
implementation
and,
quite
honestly,
it
takes
time
to
integrate
it
on
the
API
level.
So,
in
my
opinion,
the
central
decentralisation
architecture
is
very,
is
actually
getting
more
and
more
popular.
There
are
more
and
more
use
cases
that
will
be
leveraged.
There
are
more
and
more
very
interesting
technologies
that
support
it,
but
it
will.
It
still
will
be
taken
time,
but
I'm
sure
we
will
see
more
in
more
real-life
production
implementations
with
million
of
users
in
2019,
2020
and
so
on.
I
think.
A
I,
like
a
lot
what
you're
saying,
because
you're
actually
making
a
cause
that
yes,
we
know,
everyone
knows
that
locks
in
it's
still
in
its
infancy,
but
as
more
and
more
organizations
join.
This
I
would
not
like
to
call
it
hype,
but
actually
become
more
aware
about
what
lock
Shane
could
actually
empower
further.
A
Your
business
I
think
it's
very
important
to
not
yet
to
play
it
real
to
tell
it
like
it
is
to
actually
inform
this
new
audience
about
the
possible
trade-offs
that
you
actually
need
to
undertake
in
a
new
implementation
and
actually
oftentimes
from
my
own
personal
experience.
I
see
that
it's
not
perfectly
decentralized
that
you
have
to
build
upon
what
you
already
have
like,
for
example,
for
kyc
processes.
You
will
not
throw
away
those
onboarding
processes
that
are
already
in
place,
but
slowly
it
can
go
towards
that
direction.
A
So-
and
this
is
like
kind
of
the
message
I'd
like
to
transmit
to
the
audience
or
whoever
listens
to
this,
because
it
might
be
a
little
bit
confusing
for
new
players
like
there
are
some
companies
out
there
who
are
very
bullish
and
loyal
to
this
decentralization
principle
because
they
have
locked
in
at
heart,
but
very
rarely.
It
actually
works
like
that.
So
it
has
like
a
stage
phase
where
you
actually
need
to
start
from
somewhere.
C
Percent
agree,
and
to
add
to
that
you
would,
when
we're
talking
about
the
blockchain
right,
it's
actually
any
one
of
us
in
this
room
would
be
able
to
name
five
or
six
or
seven
flavors
of
the
blockchain
right.
It
could
be
permission,
it
could
be
private,
it
could
be
public.
There
are
various
methods
of
consensus,
and
many
of
these
models
could
be
very
much
applicable
to
one
implementation
or
one
market
and
might
not
be
applicable
to
any
other
market.
C
A
So
my
next
question
goes
to
Alex,
so
Alex,
the
financial
services
industry
is,
we
know
it's
characterized
by
a
very
complex
operations
framework,
a
lot
of
players,
many
partners
in
accessible
data,
lack
of
information
sharing,
so
yeah
multiple
parties,
interacting
with
one
another
that
could
lead
to
possible
in
transparencies,
which
also
lead
to
fraud.
So
what
is
the
most
significant
yeah
results
of
the
work
you're
actually
doing
at
the
blocks
and
blocking
lab
at
Moscow
exchange
to
actually
tackle
this.
B
Actually,
you
know,
Russia
is
one
of
sources
of
fraud,
fancy
bidders
and
or
losses.
It's
not
stuff
that
you
have
known
from
newspapers,
but
anyway,
from
my
point
of
view,
results
that
we
have
in
Moscow
exchange
are
not
so
significant
because
we
have
results
from
Nakamoto
and
Bitcoin
blockchain
and
as
a
blockchain
stats
are
still
working
without
any
kind
of
governance.
B
But
it
is
not
a
business
value.
To
be
honest,
so
we
just
need
to
find
out
new
use
cases
that
are
impossible
to
run
without
blockchain.
Then
it
will
be
a
good
case
like
to
allow
Millennials
to
invest
by
crowdfunding
who,
in
somehow
in
something
or
to
make
a
kind
of
transparent
law
system
and
transparent
decisions
by
courts
might
in
source
court.
B
That
will
be
good
because
all
our
other
games
are
just
toys,
like
small
railway
model,
that
we
are
trying
to
put
on
small
railways
and
to
see
how
it
will
go
on
with
just
small
use
case
even
in
India.
I
am
sorry
for
the
words.
It
is
just
a
small
part
of
business
process
already
in
blockchain,
but
it
will
look
purely
if
it
will
be
all
relationships
in
the
chain
that
cannot
be
bothered
by
sanctions
or
by
something
some
other
power
that
can
switch
it
off.
D
You
know
so
III
come
at
it
from
the
the
sails
of
the
business
side
of
things.
So
it's
you
have
to
start
somewhere.
You
know
you
have
to
like
I
say
it's
great
to
have
utopian
vision
and
the
end
state
should
be
what
you're
focusing
on.
But
how
do
you
get
people
to
the
table
today?
How
do
you
get
them
to
agree
that
you
know
that
there
they
will
run
even
just
one
part
of
their
business
process
through
a
common,
blockchain
and
I?
Think
it's
it's
incremental.
It's
not
revolutionary
I
think
that's
the
way.
D
We're
gonna
see
this
deployed,
at
least
on
the
enterprise
level.
You
know,
there's
a
lot
of
public
chains
out
there
that
are
focused
on
different
problems,
potentially
that
they
made
they
may
take
off.
But
you
know
trying
to
get
a
bank
to
to
to
agree
to
to
buy
something
on
a
common
network.
Isn't
isn't
as
simple
as
sort
of
you
know.
You
first
all
you've
got
the
push
back
from
IT,
because
they've
just
maybe
spent
a
billion
dollars
on
their
core
system
and
to
go
in
and
tell
them
that
their
baby's
ugly
is
not
gonna.
D
Get
you
a
good
result,
and
so
you
know
it's
I
think
you
have
to
build
on
the
platform's.
You
have
to
show
value
at
first.
You
have
to
show
that
there
is
a
return
on
investment
and
then
you
can
start
to
evolve
it
so
that
you
know
you
get
to
the
point
where
Alec
says
where
you
are
actually
running
almost
all
of
your
business
processes
through
there
and
it
was
validated
by
smart
contracts
so
that
the
you
can
eliminate
different
types
of
frauds
and
and
and
increased
transparency,
and
things
like
that.
D
A
D
You
know
that's
a
very
short-sighted
side
of
thing,
so
I
actually
come
from
an
IT
background.
More
a
technology
I
built
distributed
systems
for
the
last
X
number
of
years
worked
for
one
of
the
largest
content
delivery
networks
and
when
I
started
on
this
path,
down
working
with
blockchain
and
and
what
have
you
is
originally
with
Bitcoin
and
I-
was
less
excited
about
Bitcoin.
D
A
Person
was
definitely
not
a
Bitcoin,
maximalist
or
whatsoever.
I
think
it
came
more
from
the
frustration
of
this
making
decentralization
acceptable,
and
this
is
what
I
try
to
actually
argue
with
all
of
you
today.
It's
hard
and
people
that
work
in
the
enterprise
space
know
it
like
people
that
do
are
in
the
blockchain
business
every
day,
it's
already
hard
for
huge
companies
to
innovate
in
their
silos,
like
imagine
putting
three
four
five,
or
even
more
of
them,
dynamically,
on
a
single
source
of
truth.
D
Think
you
also
have
someone
if
they
come
from
an
enterprise
software
company.
You
know
when
you,
when
you
have
a
hammer,
everything
looks
like
a
nail,
so
you
know
I
thought
of
the
things
that
we've
done
like
it.
We
just
did
an
integration
with
Swift
people
are
like.
Aren't
you
guys
somewhat
at
odds
with
each
other
and
I
said
no
they've
got
a
conduit
into
thousands
of
banks
around
the
world,
the
banks,
trust
them
for
authentication
and
encryption
and
moving
their
data
amongst
them.
So
what
why?
Why
throw
that
out?
D
Why
say
you've
got
to
do
something
different,
so
you
know
it's
it's
coming
at
it
with
a
fresh
approach:
I,
don't
even
have
a
finance
background.
I've
learned
all
this
in
the
last
three
or
four
years
coming
at
it
with
a
fresh
approach.
Sometimes
you
you
see
things
that
someone
who's
worked
in
enterprise
software
forever
may
not
may
not
get,
and.
C
One
of
the
better
arguments
and
better
maybe
use
cases
for
a
proven
that
the
centralization
makes
sense
is
actually
combined
in
the
organization's
on
the
use
cases
that
are
well-known
for
them,
where
they
have
to
communicate
where
they
do
not
necessarily
trust
each
other
where
they
have
to
have
some
transaction
proofs
where
they
can
not
have
single
points
of
trust,
the
single
points
of
failure
and
that
typically
kickstart,
the
process
I'm
sure.
That's
probably
what
kick-started
the
process
with
your
fraud
use
case
in
India.
That's
what
kick-started
the
process
in
Canada
as
well,
so.
A
What
you
just
described
is
the
the
perfect
situation
for
transforming
across
company
collaborations
among
partners
that
actually,
yes,
do
not
fully
trust
one
another,
but
on
the
other
side
are
known
partners
to
each
other.
But
others
did
you
have
any
experience
with
actually
competitors
sitting
on
this
single
source
of
truth
and
then
sharing
data
with
one
another.
Did
you
have
any
experience
where
you,
as
he
as
the
technology
provider,
for
example,
playing
the
more
neutral
role,
we're
trying
to
convince
them
that
hey
look?
A
E
Yeah
I
mean
there
are
several
questions
that
we
need
to
ask
ourself
to
answer
that
question.
First
of
all,
is:
do
we
have
any
retailers
in
the
room,
any
banks,
okay,
at
least
one.
So
you
know
about
the
retailers.
Do
you
want
to
hold
the
the
credit-card
information
in
your
information
systems?
Do
you
want
to
have
you
know
the
banks?
Do
you
want
to
do
the
KIC?
Is
this
your
core
business?
You
have
to
do
it
so
by
introducing
those
new
concepts,
new
solutions
and
I'm.
E
Talking
about
the
we
have
a
solution
for
care,
I,
see
zero
knowledge,
proof
verifiable
claims.
With
these
new
concepts
on
the
blockchain,
we
can
see
a
different
use
and
different
use
cases
for
all
the
enterprises,
and
some
of
them
might
like
what
we
will
be
seeing
in
the
future.
Some
of
them
will
have
to
shift
a
little
bit
their
mindset
and
and
build
things
slightly
different,
because
now
everyone
is
talking
well
data
information.
This
is
what
we
need.
E
This
is
what
is
important
for
us,
but
on
the
other
hand,
we
see
those
gdpr
and
other
initiatives
that
are
trying
to
protect
the
data.
Now
what
is
happening
here
is
who
actually
needs
certain
part
of
data
and
for
what
and
with
the
blockchain
you
can
change
the
name
of
the
game.
You
can
say
who
controls
the
data.
In
our
case,
what
we
are
building
is
the
user
has
the
data
and
he
is
informed
and
he
should
approve
every
exchange
of
the
data.
E
You
just
need
certain
information,
certain
proof
that
needs
to
be
on
the
blockchain
and-
and
let
me
close
this
by
maybe
emphasizing
because
one
of
our
projects
that
we
are
really
passionate
about
is
called
Sora
and
it's
decentralized
autonomous
organization.
So
it's
about
the
economy
that
sets
a
completely
different
rules
and
they're
sharing
the
information
and
trust
how
you
share
the
information.
It's
completely
different,
now
sitting
around
the
table.
Well,
in
our
example,
I
don't
have
a
good
answer
to
that,
because
we
are
working
with
the
central
bank
who
would
say
to
all
40
banks.
E
Is
also
fine,
yes,
but
I.
Think
in
the
future
that
will
change
and
maybe
just
reflect
to
what
was
discussed
before
I
think
the
companies
need
to
think
what
the
sent
decentralized
means.
In
the
essence,
it's
not
a
power
game,
so
you
cannot
come
to
the
table
and
and
force
something.
Maybe
you
you
were
able
to
do
that
before,
because
if
you
were
doing
that,
you
know
the
supplier
could
not
say
well.
I
will
not
play
the
game,
but
now
things
are
changing,
but.
A
It's
harder
to
actually
incentivize
suppliers
without
a
proper
token
mechanics
like
for
scenarios
where
it's
purely
digitization
or
like
proof
of
state
proof
of
history,
proof
of
existence
where
there
is
not
really
like
this
token,
mechanics
to
actually
incentivize
that
may
be.
The
only
incentivization
for
suppliers
is
that
they
would
be
using
only
one,
hopefully
portal,
that
they
would
not
need
to
go
to
hundreds
of
portals
for
each
om
and
stuff
like
that.
So
the
token,
the
in
incentivization
mechanism
actually
needs
to
be
clearly
defined
for
enterprise
scenarios
as
well,
and.
B
Also,
we
have
a
problem
with
interacting
between
different
chains,
because
you
always
need
to
provide
proof
of
existence
of
something
that
lies
in
another
chain
to
your
chain,
and
that
is
fundamental
problem
that
we
are
working
on
on
a
lot
in
our
working
groups
in
hypervisor.
But
unfortunately,
still
we
have
no
final
answer.
How
to
do
it.
A
Okay,
wonderful
as
I
look
at
the
time,
and
also
because
I
want
to
give
the
chance
for
the
audience
to
ask
any
question.
I
have
only
one
final
round
of
question
for
all
of
you,
and
so
was
thinking.
What
should
we
be
doing
better
in
2019?
So
when
moon
for
enterprise
blockchains
your
one
or
two
sentence,
summary.
B
Actually,
there
is
a
chance
to
the
moon
still
I
think
that
governance
of
networks
and
mechanisms
to
allow
networks
to
be
decentralized
Ledger's
will
be
a
challenge
for
next
year
to
be
honest
in
terms
of
financial
industry,
in
terms
of
healthcare
and
in
terms
of
other
areas,
because
everywhere,
if
we
have
a
kind
of
a
network,
we
can
apply
blockchain
and
we
just
need
to
calculate.
Is
it
economically
sensible
or
not
a.
C
In
my
point
of
view,
obviously,
the
governance
is
very
important,
but
what
because
maybe
I'm
looking
at
more
applied
problems
right
now,
I
think
that
more
and
more
the
concentration
will
be
associative.
The
work
will
be
associated
with
actually
making
the
real
production
platforms
out
of
the
blockchain
system
that
we
have
concentrating
on
stability
and
performance,
ensuring
that
the
blocks
are
not
lost,
ensuring
that
we
actually
can
do
transactions
in
single
seconds,
ensuring
that
we
can
run
in
various
implementations
and
in
various
cloud
environments.
C
It's
very
important
actually
for
solving
the
decentralisation
problem,
because
if
you
are
dealing
with
one
partner
who
believes
that
everything
needs
to
be
hosted
in
a
jar
and
another
one
who
believes
that
everything
needs
to
be
hosted
at
ABM
right
now,
it
doesn't
work
right
deep.
Well,
typically,
so
that's
actually
what
they
think
would
be
so.
D
I
mean
I
definitely
agree
with
with
both
of
their
points.
You
know,
I
think
when
you
look
at
it,
at
least
from
my
purview
of
financial
services
side
of
things.
You
know
these
are
enterprise
sales
and
the
typical
life
cycle.
For
these
things
is
a
couple
years.
You
know
you
don't
just
go
in
and
sell
them
a
new
database
tomorrow.
It's
there's
a
procurement,
there's
auditing,
there's
all
sorts
of
evaluations,
rfp's
bla,
bla
bla,
and
the
fact
that
we've
really
just
started
to
hit
1.0
with
a
lot
of
these
things
means.
D
So
you
know
we're
it's
a
two-year
cycle,
typically
for
a
lot
of
these
things,
so
we're
still
gonna
see
another
year
of
some
more
pilots
and
more
POCs.
But
the
things
that
are
encouraging
to
me
are
things
like
central
banks
and
regulators.
Getting
a
grasp
of
this.
You
know
cuz,
that's
the
first
question:
I
get
from
every
bank
that
I
talked
to
a
dependent
independent
of
any
use
case
is
what
is
the
Reserve
Bank?
Think
of
this?
What
are
the
regulator's
think?
What
does
my
compliance
department
think?
D
E
I
think
that's
the
that's
the
right
approach.
If
you
will
be
waiting
and
and
thinking
about
all
the
problem
that
you
have
back
home
or
trying
to
solve
all
those
problems
by
implementing
something
on
the
blockchain,
it
will
not
happen,
but
on
the,
on
the
other
hand,
those
things
are
happening
and-
and
you
know
others
will
will
do
it,
and
if
you
want
to
be
part
of
this
great,
you
know
thing
called
blockchain.
You
have
to
move
fast.
You
have
to
do
something
today,
not
wait
until
another
five
years
or
whatever
very.
A
Cool
thanks
to
all
of
you,
so
we
have
a
couple
of
more
minutes
for
questions
like
if
there
is
anyone
from
the
audience
for
things
that
we
missed
any
important
part
or
has
something
which
is
burning.
Very
cool
yeah
carrying
my
friend
from
Germany
I
also
have
to
move
around
because
we
don't
have
any
staff
supports.
F
Thank
you
for
sharing
your
experiences
Karen
from
Germany,
your
I'm
from
University
area
and,
to
be
honest,
I
think.
One
problem
we
have
at
the
moment
is
that
leaders
and
companies
look
at
blockchain
discussion
and
take
it
as
read,
but
techie
techie
stuff.
They
don't
understand
and
if
I
remember
right,
PricewaterhouseCoopers
took
a
study
and
found
out
51
percent
of
all
those
leaders
and
companies
do
not
even
understand
blockchain
and
because
they
don't
understand
they
don't
like
it
and
I
don't
cope
with
it.
F
So
if
we
have
this
situation,
it
might
be
good
that
you
go
ahead
with
your
projects,
but
what
we
need
is
more
clearly
understandable,
storytelling
about
what
even
about
the
problems
you
have
because
I
think
we
don't
share.
We
don't
speak
if
we
don't
dis,
discuss,
for
example,
your
your
point
with
the
smart
contracts
from
from
take
lawyers,
you
contracts
and
how
complicated
the
they
are
in
the
real
word,
and
it's
often
some
so
many
times
mixed
up
and
sometimes
I
think
even
in
the
IT
world.
D
I
think
it's
also
that
we
in,
if
we're
trying
to
sell
to
business
leaders,
we
shouldn't
be
selling
them
a
particular
flavor
of
technology.
We
should
be
talking
about
the
problem
or
solving.
So
when
we
first
started
talking
to
banks,
we'd
say
we're
a
block
same
company
and
they'd
come
and
go
great,
go
talk
around
our
IT
department
and
now,
when
I
go
in
and
say
hey,
who
runs
your
trade
finance
products?
D
Would
you
like
to
reduce
fraud
and
receivables,
financing
they're
like
great,
and
they
don't
care
that
it's
a
block
came
running
on
the
other
end
of
it?
So
you
know
it's
like.
Do
you
care
that
you're
using
an
Oracle
database
versus
an
MS
sequel
database
versus
an
open
source?
One
not
really
it's
kind
of?
What's
the
app
that
you
built
on
top
of
it
and.
C
Actually
would
agree
very
good,
no
I
actually
would
agree
with
that,
and
the
final
example
is
so
we
implemented
with
a
number
of
financial
institutions
and
with
a
number
of
government
agencies
right
now
and
the
fastest
implementations
were
with
organizations
who
did
not
care
how
the
system
works.
So
that
a
it's
funny
to
say
right.
Why,
especially
for
me
for
attacking
but
people
who
approached
it
as
a
black
box,
very
fast
people
who
really
wanted
to
understand
how
it
works
a
long
time,
I.
E
Would
just
had
I
mean
I
agree
with
what
you
said,
but
how
we
should
approach
that
that's
another
question.
So
I
was
recently
in
Astana
and
what
the
regulator
is
doing
there.
They
are
providing
the
sandbox
to
the
suppliers
to
install
the
solution
to
the
sandbox,
and
then
everyone
that
has
a
problem
with
that
can
come
to
the
sandbox
and
see
how
it
works,
and
this
is
the
education
part
where
they
see
the
actual.
You
know
the
actual
deployment
and
then
they
can
say.
E
Oh
but
I
have
a
problem
with
data
privacy
I
have
a
problem
with
performance
whatever,
and
you
can
do
the
same
within
the
company
or
across
companies
where
everyone
can.
You
know,
look
at
what
you
deployed
and
say
this
is
what
I
see
as
a
potential
problem,
but
then
how
do
we
solve
that?
Whether
this
is
a
legal
issue
or
whatever
issue
is?
This
is
how
you
can
educate
them,
but
I
also
agree.
E
I
would
like
to
join
this
and
emphasize
we
shouldn't
be
a
you
know,
introducing
blockchain,
because
it's
a
high
just
because
it's
a
blockchain,
we
should
have
a
problem
that
we
are
not
able
to
solve
otherwise,
or
it
would
be
much
more
difficult
to
solve
it.
Otherwise,
and
that
then
we
introduce
the
blockchain.
And
then
we
talk
about
all
those
potential
issues.