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From YouTube: Digitising Financial Agreements - Rodolf Salem, Lygon
Description
The global economy is plagued with problems created by paper instruments. For hundreds of years, paper contracts have been slow, expensive, unstandardised, opaque, full of errors and fraudulent claims, and damaging to the environment. Lygon is a market operator for creating and managing digital instruments that eradicates the pain points of paper. Built upon Hyperledger Fabric and the IBM Blockchain Platform, Lygon Arc brings speed and trust to financial agreements.
Sessions Details & Slides (if available)- https://sched.co/j3bC
----
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A
Hi
everyone
can.
Hopefully
everyone
can
hear
us
in
our
presentation
today.
My
name
is
rudolph.
I'm
just
waiting
to
see
hi
there.
Can
you
please?
Yes
great,
you
can
hear
us
apologize,
weren't,
aware
that
we
were
on
but
hi.
My
name
is,
my
name
is
rudolph
salem
and
this
is
ursula
heart
dog
and
we
are
both
from
lygon.
A
What
lygon
is
so.
We
are
a
digital
market
operator
and
we
see
ourselves
as
a
marketplace,
providing
digital
financial
instruments
and
we're
starting
off
with
bank
guarantees
and
all
letters
of
credit
which
are
known
in
some
in
some
jurisdictions
and
and
logon
really
eventuated,
and
it
has.
It
has
been
a
customer
story
from
day
one
about
five
years
ago,
where
a
group
of
property,
institutional
customers
got
most
of
the
banks
into
a
room
and
demanded
that
the
whole
bank
guarantee
process
end
to
end
should
be,
should
be
revised
and
to
fix
it.
A
We
need
an
industry
solution
to
look
at
it
and
it
really
came
down
to
fundamentally
a
number
of
problems,
and
it
was
all
really
around
paper.
It's
already
around
the
management
of
paper,
the
reconciliation
of
paper,
the
ongoing
transactions
around
those
specific
bank
guarantees
and
the
the
contin
the
length
of
time
it
took
for
issuers
to
issue
bank
guarantees
to
their
respect
to
their
respective
clients.
A
A
From
then
on,
we've
continued
that
was
quite
a
successful
proof
of
concept.
We
continued
to
do
development
and
got
more
banks
involved
in
the
australian
market
and
use
to
help
us
in
terms
of
development
setting
what
the
workflows
and
protocols
are
around,
not
just
bank
guarantees,
but
thinking
ahead
of
what
bank
guarantees
or
financial
instruments
or
digitizing
financial
instruments
would
look
like
in
the
future.
A
A
A
We
are,
we
have
gone
through
many.
I
get
many
security
protocols,
cyber
security
etc
a
safe.
We
are,
we
have,
we
are
trusted,
we
are
trusted
capability
and
we
are
ready
to
skate.
We
are
ready
to
scale
up
again
it's
a
complete
if
ignoring
the
underlying
underlying
capability
and
infrastructure,
which
the
logon
platform
sits
on.
We
are
digitizing
the
customer
experience.
We
are
digitizing
the
experience
for
banks
and
we
are
also
digitizing
experience
for
third
parties.
A
Fundamentally,
what
we
are
doing
is
just
being
an
enabler
for
digitizing
bank
digitizing
bank
guarantees,
but
also
how
an
applicant
or
any
one
of
the
tran
any
one
of
the
parties
can
request
a
request.
A
a
bank
guarantee
how
that
is
validated
by
all
parties
and
then
how
is
that
then
becomes
a
valid
bank
guarantee
on
the
lygon
art
platform.
A
We
do
again.
This
is
distributed
ledger
we
use
hyperledger
fabric
as
our
underlying
capability
and
infrastructure
and
with
the
simplicity
that
we'll
show
you
in
terms
of
the
front
screen.
The
back
end
has
the,
depending
on
the
on
the
selection
by
the
user,
various
protocols
and
workflows
that
enable
the
interaction
the
transaction
addresses.
The
pate
addresses
paper
removes
paper
completely
out
of
the
out
of
the
equation.
A
We
give
everyone
and
that's
we
give
everyone
the
same
view
of
the
data
we're
able
to
capture
and
audit
and
audit
history
that
we
would
never
be
able
to
capture
before
in
paper,
and
we
also
get.
We
also
remove
operational
risk
and
and
and
reduce
fraud
out
of
the
system,
because
everyone
has
view
of
exactly
what
that
transaction
is
and
for
a
for
a
third
party
who
are
recipients
of
these
bank
guarantees
from
multiple
financial
institutions.
A
B
B
B
A
This
instance
and
the
beauty
of
the
platform
allows
us
it's
quite
simple,
to
add
various
types
of
bank
guarantees
and
purpose
types,
and
that
is
a
great
benefit
for
customers
as
well.
So
again,
comes
back
to
the
underlying
capability
is
really
enabling
here
to
allow
us
to
to
generate
these
financial
instruments
with
key
data
points
relatively
quickly
and
easily
something
that
takes
now
literally
minutes
coming
down
from
weeks
where
the
issuance
would
have
been
guaranteed
from
a
particular
bank.
A
So
ursula
just
went
through
an
applicant's
view.
Now
we're
going
to
go
through
a
beneficiary's
view
and
again
because
it's
distributed
ledger
for
it
to
be
a
viable
instrument.
It
needs
to
be.
It
needs
to
be
validated
by
all
three
parties,
so
the
applicant
in
most
in
this
case
that
and
then
the
platform
then
notifies
outside
of
the
platform,
the
third
party
and
then
that
third
party
can
action
action.
That
bank
guarantee
itself.
B
So
they'll
click
on
the
bank
guarantee
that
requires
issuance
they'll
confirm
the
details
of
the
parties
are
correct.
The
guarantee
type,
the
guaranteed
purpose
they'll,
either
reject
send
it
back
to
the
applicant
verify
the
details
as
to
why
it
was
incorrect.
It'll
be
sent
back
to
the
beneficiary
for
approval.
Those
details
updated
and
approved.
A
B
What
I'll
do
is
I'll,
prove
and
you'll
be
able
to
see
in
the
timeline
the
stages
of
approval.
Once
again,
this
area
is
unamendable,
it's
time
stamp
date
stamped
and
personal
action
stamped
I'll
now
go
to
the
higher
level
bank
manager.
Who'll
assess
the
bank
guarantee
once
again
and
at
this
level
it's
the
final
stage
of
approval.
A
A
There's
no.
Does
we
have
removed,
remove
paper
from
the
process
completely
and,
if
you
think
about,
if
you
think
about
some
of
the
capability
and
a
bit
of
an
impact
it
has
for
an
issuer
specifically,
this
has
reduced
for
about.
Every
thousand
bank
guarantees
they
issue
and
remembering
these
guys
are
issuing
multiple
bank
guarantees,
saving
them
2
000
hours
worth
of
worth
of
staff
time.
A
Physical
handling
of
documents
saves
about
2,
000,
plus
courier
deliveries,
10
000
pieces
of
paper
for
every
thousand
bank
guarantees,
and
not
only
that
you're,
giving
some
you're
giving
parties
24
7
access
of
information,
so
even
though
ursula
and
ursula
has
gone
through
three
screens,
this
is
the
underlying
capability.
Is
these
are
valid.
This
is
different
nodes,
validating
the
information
across
each
other
and
depending
on
the
protocols
or
the
action
that
you
choose.
The
nodes
then
behave
differently
in
terms
of
which
validation
needs
to
come
first
or
second
etc.
A
It
is
a
private,
it
is
private,
it
is
a
private
ledger
and
we've
been
working
for
the
last
four
years,
with
ibm
and
and
using
hyperledger
fabric
to
kind
of
design
and
build
this
cape
this
capability.
Now,
once
you
have
a
guarantee
in
place,
you
have
visibility.
You
can
have
actions
around
that
specific
guarantee.
A
And
that
was
really
what
we
wanted
to
kind
of
demonstrate
in
relation
to
the
logon
platform
and
talk
about
what
ligon
is
and
why
we,
why
hyper
ledger
was
an
enabler
for
us
to
be
able
to
to
build,
to
build
out
this
to
build
out
this
capability
again,
coming
back
to
our
mission,
now,
we've
created
this
network.
It
is
to
be
the
market
operator
for
digital
financial
assets
and
looking
to
build
some
of
that
into
into
other
financial
assets
as
well.
A
A
It
looks
like
we've
got
a
few
few
questions
coming
through.
Can
you
speak
a
little
bit
on
onboarding
process
into
the
platform?
Yeah
sure?
So
that's
part
of
the
legal
architecture
around
the
onboarding
process,
and
it's
simply
we
are
a
sas
platform
so
from
an
onboarding
of
a
user
they'll
go
through
our
user
terms
and
click
through
similar
to
how
you
might
set
up
a
a
google
account
or
any
other
online
accounts
we'll
go
through
that.
Do
you
have
various
validations
about
the
the
user
and
their
linkages
to
organization
and
they're
onboarded?
A
Another
question
the
session
is
scheduled
to
schedule
at
the
end.
Also
individual
bring
their
own
peer
nodes,
so
the
individual
can't
bring
their
own
pianos,
but
what
we
can.
What
we
can
do
is
that
those
nodes
can
be
lifted
and
shifted
to
any
to
to
any
any
cloud
solution.
At
the
moment
they
all
sit
on
under
one
but
can
be
easily
moved
to
a
bank
specific
cloud
solution,
but
each
bank
for
security
purposes
is
another
question:
has
their
own
has
their
own
node?
A
We've
made
it
flexible
for
third
parties
to
kind
of
share
nodes
as
well
and
again
your
requirement
for
the
security
perspective.
You'd
want
one
bank
to
see
all
the
guarantees
that
they've
issued
in
one
place,
but
for
a
beneficiary
you'd
want
to
see
all
the
beneficiary
all
the
guarantees
that
they're
recipient
of
in
the
one
place
for
multiple
financial
institutions.
A
How
easy
is
it
another?
We've
got
another
question:
how
easy
is
on
board
new
products?
Besides
bank
guarantees
relative
relatively
simple,
it's
something
we're
going
through
into
the
product
pipeline.
I
can't
talk
to
that
to
that
too
much,
but
if
you
keep
an
eye
out
on
us,
but
like
on.com,
you
can
kind
of
see
some
of
the
new
product
and
capabilities
we're
introducing
around
various
indus
around
various
industries
and
various
sectors.
So,
if
you
think
about
the
legal
industry
and
insurance
industry,
it's
something
we're
looking
at
to
apply
apply
now.
A
This
way,
what
is
a,
what
is
a
revenue
model?
Again,
it's
a
sas
platform.
So
it's
a
it's
a
revenue
model
based
on
the
transaction
of
usage,
very
high
level,
and
I
think
we've
actually
run
out
of
run
out
of
time,
so
everyone.
Thank
you
very
much
thanks
for
allowing
us
to
demonstrate
logon
our
capability
and
from
ursula,
and
I
thank.