►
From YouTube: Hyperledger In-depth with KrypC: Leveraging Hyperledger Fabric for Banking and Financial Services
Description
Powered by Restream https://restream.io
A
Hello,
everyone
good
morning,
good
afternoon
or
good
evening,
depending
on
where
in
the
world
you're
zooming
in
from
happy
to
have
you
here
on
our
hyper
pleasure
in
that
webinar
with
creepsi
and
new
streettech.
We're
gonna
start
in
just
a
couple
of
minutes
just
to
allow
more
people
to
join
us
as
well.
A
A
A
A
A
Now,
first,
if
you
attended
any
of
the
other
hyperledger
in-depth
webinar,
you
might
already
know
that
we
have
some
housekeeping
rules.
So
first
I
would
like
to
emphasize
that
all
are
welcome
in
our
hyperledger
Global
community
and
we
are
striving
to
create
a
safe
and
welcoming
environment
for
everybody.
A
Foreign
ER
Foundation
webinars
are
held
under
the
Linux
Anti-Trust
policy,
which
you
can
also
find
on
our
website
and
on
our
Wiki
as
well.
This
session
this
session
is
being
recorded
and
the
recordings
will
be
available
at
our
webinar
Library,
along
with
the
slide.
So
you
can
always
download
the
slides
and
go
back
to
see
if
there
is
anything
that
you
missed,
or
you
would
like
to
get
into
contact
with
panelists
or
with
us
at
hyperledger
as
well.
A
If
you
don't
like
to
talk
you're
more
than
welcome
to
use
the
chat
button
or
the
Q
a
button,
and
our
panelists
will
take
the
questions
at
the
end
or
they
will
type
the
answer
over
there.
And
of
course
you
can
also
use
the
chat
button
to
comment
and
thank
our
panelists
now
without
further
Ado.
I
would
like
to
introduce
Mohit,
who
is
a
VP
of
technology
and
research
at
cripsy
and
sintel,
who
is
the
chief
product
architect
at
New,
Street,
Tech,
Mohit
and
sentil
over
to
you.
B
B
D
Thank
you
for
being
part
of
this
webinar.
My
name
is
Mohit
I,
take
care
of
Technology
at
research
at
gripsy,
and
today,
I'll
be
discussing
and
providing
my
views
on
hyperledger
fabric
and
the
applications
we
have
been
working
on
and
how
hyperledger
fabric
has
been
the
the
perfect
choice
for
applications
on
the
Banking
and
Financial
Services,
and
how
our
partners
New
Street
Tech.
We
have
been
working
together
to
create
a
real
use,
production
use
cases
which
could
not
have
been
possible
without
the
hyperledger
fabric
and
and
the
applications
we
have
been
working
on.
D
Before
we
get
into
modern
nativities
on
what
is
the
use
case
and
how
we
have
been
using,
it,
I
just
wanted
to
rephrase
some
of
the
key
features
of
hyperledger
fabric
for
every
one
of
our
understanding.
We
may
have
many
of
us,
maybe
deep
into
hyperledger
Fabric
and
some
may
be
from
the
technology
side,
so
maybe
from
the
business
side,
business
analyst
side
so
maybe
recently
joining
so
just
considering
different
types
of
audience
we
may
be
present
today.
D
D
There
were
certain
design
challenges
even
to
the
extent
that
one
would
do
in
a
public
pleasure
by
modifying
the
source
code
for
by
modifying
the
way
it
is
deployed
to
tune
to
the
Enterprise
is
still
it.
It
won't
be
giving
the
perfect
output
what
an
Enterprise
would
be
requiring
so
hyperledger
fabric
from
ground
sub.
It
was
thought
and
it
was
made
for
Enterprise
use
case.
D
It
is
completely
open
sourced
and
it
is
well
governed
by
the
Linux
foundations
umbrella
and
the
key
features
are
scalability
and
modularity,
and
one
would
always
consider
when
we
talk
about
Bitcoin
or
ethereums
of
the
world,
that
what
is
the
throughput
on
latency.
So
those
things
we
need
not
even
be
worry
about
it.
D
It
is
having
very
high
throughput
and
very
low
latency
and
identity
comes
inbuilt
in
this
protocol
stack,
so
fabric
comes
with
its
own
fabric
CA,
so
every
participant
have
their
own
certifying
Authority
and
they
decide
whom
to
issue
certificates
whom,
to
issue
home
to
revoke
the
certificate,
and
it's
very
much
close
to
our
identity
system
works
in
our
current
organizations
or
current
Pre-K
infrastructure.
So
exact
PK
infrastructure
is
made
available,
but
in
a
more
immutable
and
a
more
controlled
manner,
which
is
more
tuned
for
blockchain
applications.
C
D
Next
slide
now,
one
of
the
primary
challenge
we
have
when
we
adopt
a
blockchain
in
Enterprise
versus
the
open
networks
is
privacy
and
then
security,
so
Securities
there
are.
Many
will
always
think
about
how
the
private
keys
are.
Okay,
everything
is
protected,
using
a
combination
of
public
and
private
key
that
may
not
be
enough
and
privacy
privacy
have
to
be
addressed
now
coming
into
transparency.
D
Blockchain
is
highly
transparent
by
nature,
but
in
Enterprise
we
need
to
have
some
sort
of
privacy
when
I
say
privacy,
it
means
how
to
have
the
data
public
between
few
participants
or
few
users
and
not
every
one
of
them,
because
this
data,
what
we
put
in
business
use
case
banking
use
case,
may
not
be
good
if
it
is
completely
public
with
all
the
participants.
However,
a
design
is
required
that
the
data
is
immutable
and
it
is
only
visible
to
few
participants
so.
A
D
Are
various
ways
in
hyperledger
fabric
using
which
one
could
incorporate
their
level
of
privacy
and
their
level
of
security?
Having
said
that,
the
core
benefit
is
the
customization
and
the
options
we
have
so
once
one
get
deep
into
hyperledger
fabric,
they
would
know
that
how
to
use
particular
feature
to
tune
in
their
requirement.
So,
for
example,
we
have
something
called
channels,
so
there
could
be
multiple
networks
within
within
your
infrastructure,
one
for,
for
example,
a
particular
thing.
D
What
is
happening
in
the
banking
environment,
loan,
environment,
Etc,
and
then
you
could
have
this
networks
partitioned
across
different
participants.
If
that
doesn't
suit
the
case,
then
we
have
something
called
private
data
collection,
which
is
a
very
nice
feature
using
which
the
data
is
private,
between
subsets
of
the
users
and.
D
So,
for
example,
the
latest
feature
in
hyperledger
fabric,
which
is
called
the
external
chain
code
support.
It
made
this
very
easy
for
someone
from
the
devops
background
or
the
cloud
devops
environment
to
visualize.
Basically,
how
can
I
increase
the
throughput
of
transaction
processing?
How
can
I
execute
the
smart
contract
right?
So
these
are
certain
things,
whichever
really
helpful.
C
D
When
I
say
scalability,
this
is
not
limited
to
one
of
the
feature.
I
said.
Obviously
you
have
to
stitch
things
in
a
different
way
to
tune
to
your
business
requirement
like
how
many
keys
you
are
reading
and
how
many
keys
you
are
writing.
So
that's
what
one
would
do.
We
have
been
doing
that
for
past
so
many
years,
optimizing
hyper
laser
fabric
to
tune
this
scalability
requirement
of
the
organizations.
D
I
say
plugable
consensus:
it
is
not
like
you
could
change
from
this
consensus
to
POS
consensus
to
pow,
or
there
are
many
publicly
known
consensus.
It
is
like
within
hyperledger
fabric.
We
have
rough
now
rough,
basically
or
etcd.
It
used
to
be
Kafka,
zookeeper
and
a
few
modes
will
come,
but
the
the
intelligent
part
or
the
intuitive
part
here
is
basically
something
called
Channel
endorsement
policy
chain
code
endorsement
policy,
so
how
we
can
observe
and
understand
what
is
actually
the
real
world
requirement
in
terms
of
how
a
transaction
should
be
considered.
D
If
a
particular
transaction
is
between,
let's
say
a
couple
of
banks
in
a
Consortium,
but
this
transaction
is
between
Bank
A
and
B.
How
we
can
ensure
that
those
banks
are
at
least
party
to
this
transaction,
so
it
is
very
easy
once
we
get
deep
into
it,
how
do
we
actually
configure
it
and
then
get
everyone's
concerned
result?
Okay,
the
transactions
will
not
go
through
unless
not
only
the.
D
The
real
parties,
who
should
have
been
involved
in
validation
of
such
transactions
per
party
to
it
so
this
this
provides
us
another
layer
of
I,
would
say
plugability
using
which
we
are
not
only
solving
scalability
security
privacy.
We
are
also
ensuring
that
the
right
parties
are
also
involved
when
a
transaction
got
accepted
and
then
X
executed
right.
D
D
There
have
been
more
advantages
in
terms
of
how
to
easily
use
PDC
and
now
in
the
latest
2.5
release
there
had
been
made
certain
advancement
in
terms
of
instructing
Tino
to
delete
all
the
historical
data.
In
case
there
is
a
regulatory
requirement:
okay,
remove
all
the
trails.
Now,
how
do
we
ensure
that
the
data
at
some
point
was
said
so
the
hashes
would
be
there.
So
all
those
technical
things
are
completely
taken
care
Plus.
D
The
regulations
are
taken
care
now,
coming
to
the
point
of
Consortium
governance,
which
we
are
seeing
as
a
second
Point
here
now
in
a
public
blockchain.
Typically,
what
happens
is
you
have
so
many
I
would
say
node
and
depending
on
your
stake,
you
one
would
have
the
ownership
on
the
network,
and
it
generally
happens
to
be
that
51
formula
right,
like
people
having
the
stake,
plus
majority
of
the
nodes,
should
agree
to
it.
D
This
may
not
be
the
same
case
can
be
applied
into
a
private
Network
or
a
private
permission
Network,
because
there
are
few
nodes
who
are
operated
by
certain
governing
agencies
or
certain
Enterprises
who
are
critical
to
it
right.
So
how
do
we
ensure
that
the
real
Consortium
have
control
over
how
the
network
is
behaving,
how
the
network
is
expanding?
So,
for
example,
we
have
four
organizations
in
a
Consortium,
and
now
we
want
to
have
the
fifth
one.
So
by
default,
the
majority
of
the
four
have
to
agree.
D
Okay,
we
can
onboard
them
and
as
and
when
the
number
of
participants
expands,
the
majority
rules
kicks
in.
However,
in
certain
business
requirement
there
could
be
a
lead
actor,
for
example,
or
the
application
which
we
are
going
to
discuss.
In
some
time.
It
may
be
required
that
that
the
Lead
Bank
or
the
lead
platform
should
always
be.
There
should
always
be
party
to
something
major
happening
in
the
network,
for
example
onboarding
of
a
new
participant
or
changing
the
version
of
of
the
network,
so
how
we
could
do
that.
D
Obviously,
we
have
to
go
slightly
deep
into
those
configurations,
but
it
is
quite
elastic
and
flexible,
so
we
could
say
okay,
at
least
these
two
organizations
spend.
The
majority
of
the
organizations
should
agree
to
do
certain
changes
like
Network
upgrade
or
onboarding
of
a
new
participant.
So
in
nutshell,
it
allows
us
to
have
a
very
good
Consortium
governance
model,
ensuring
that
the
right
people
and
the
right
governing
organizations
have
the
proper.
C
D
And
then
you
have
at
times
requirement
that
there
could
be
some
organizations
who
should
have
only
read
access.
Basically,
they
are
only
Auditors
in
every
program
or
any
project.
One
would
require
that
that
I
should
have
the
visibility
to
what
is
happening,
but
this
shouldn't
allow
me
to
basically
make
changes
or
do
a
transaction
on
the
network.
It's
also
quite
possible
here.
We
would
be
able
to
do
this
and
then
integrating
with
existing
system.
So
there
are
many
ways.
D
It
is
one
of
the
blockchain
where
you
could
make
a
call
from
your
smart
contract
to
external
world.
If
those
things
are
done
properly,
integration
becomes
quite
easy
compared
to
the
other
blockchains
which
we
have
been
used
to,
because
people
could
write
their
own
connectors,
sap,
connectors
Etc
to
perform
the
transactions.
C
D
We
can
go
into
the
next
now
coming
into
what
is
cryp
core,
what
we
have
been
working
in
cripsy.
So
now
we
have
gone
through.
What
is
the
advantage
of
hyperledger
compared
to
other
blockchain
protocols,
however,
evolved
now
the
one
of
the
major
requirement
for
any
organization,
any
Enterprises,
how
quickly
we
can
actually
test
our
business
use
case
and
then
make
adaptable
changes,
because
we
never
know
as
an
organization
or
is
or
as
a
use
case.
Okay,
these
are
the
fields
or
this
is
the
case
which
we
are
building
now.
D
If
we
have
to
have
a
lot
of
developers,
building
from
scratch
and
then
completely
changing
something
and
then
redoing
everything
it
takes
a
lot
of
time
and
somewhere
we
lost,
we
lose
the
track,
basically
the
whole
objective
right,
any
blockchain
use
case.
There
are
certain
firms,
rules
that
there
should
be
multiple
participants.
Are
there
disparate?
There
should
be
a
lack
of
trust
where
why
they
want
to
come
into
the
blockchain.
D
D
From
beginning
was
how
to
accelerate
the
blockchain
adoption
for
the
Enterprise
and
make
it
iterative
so
core.
The
philosophy
was
no
code
low
code
solution,
so
just
click
something
and
then
deploy
your
network
and
then
just
focus
on
your
use
case
and
then
go
about
it
now,
the
other
peripherals.
You
are
seeing
Studio
data
Lake
deployer.
D
This
basically
helps
in
getting
the
meaningful
data
out
from
the
blockchain
now
hyperledger,
Fabric
or
any
other
blockchain
you'll,
always
think
about
transactions
hashes
and
blocks
right.
So
how
do
we
get
a
data
which
is
more
meaningful
to
my
business
application
or
my
line
of
business
data
visualization
tool?
So
all
those
things
are
made
ready-made
available.
So
my.
C
D
Or
a
business
analyst
idea
would
be
always
to
only
focus
on
their
use
case
and
go
about
it
then
deploy
it.
Also,
some
banks
have
specific
requirements.
How
where
they
should
be
deploying
the
fabric
Network
many
organizations
typically
go
with
all
the
clouds,
for
example,
as
your
AWS
and
Google
all
there,
they
have
their
own
cluster
model.
How
to
minimize
the
effort
to
deploy
and
monitor.
So
the
network
part
basically
takes
care
of
deployment.
The
fabric
admin
on
the
left,
which
you're
seeing
is
a
GUI
based
application.
D
It
be
very
easy
for
them
to
understand
fabric
admin
and
use
Simple
UI
and
with
minimum
script,
to
basically
govern
the
existing
hyperledger
fabric.
Network
one
board
users
deploy
chain
code
and
do
various
things
now
in
a
nutshell.
This
is
how
crypto
had
been,
and
we
have
been
working
in
this
from
last
actually
from
0.6
percent
the
product,
then
I
went
to
1.0
2.0
and
today
there
are
multiple
production
projects
which
are
live
using
this
and
it's
been
with
all
these
projects
from
inception.
So
the.
A
D
Is
we
have
been
with
those
production
projects
and
with
hyperledger
new
enhancement,
new
product
updates?
It
had
been
always
said:
Can.
It
have
reduced
all
our
clients
time
in
terms
of
reducing
the
effort
of
making
changes
or
adding
some
new
features,
which
typically,
would
have
taken
a
lot
of
months
that
they
are
able
to
do
in
few
weeks
in
different
things.
D
Now,
as
I
was
calling
the
API
model,
we
are
so
tune
to
that.
Once
we
have
the
application
deployed,
there
should
be
some
API,
but
when
we
see
any
blockchain
right,
we
have
to
create
an
endorsement
transaction.
So
it's
good
for
developers
to
learn,
but
how
to
accelerate
the
journey.
That
okay
I
have
deployed
a
chain
code
which
have
something
called
purchase
order.
How
quickly
I
can
have
an
API
which
just
take
this
purchase
order
inputs
and
be
able
to
do
the
transaction.
D
D
Management
is
also
very
important
in
a
private
permission:
hyperledger
fabric
Network,
because
people
Everyone
is
associated
to
an
identity.
So
how
do
we
issue
identity?
How
do
we
revoke
the
identity?
How
do
we
create
some
attributes
in
their
x509
certificates
and
Stitch
together
with
the
chain
code?
Access,
Control
logic?
Those
things
are
completely
taken
care,
and
one
of
the
thing
was
endorsement
policies.
Now,
when
we
do
a
transaction,
we
have
to
find
out
what
is
the
right
endorsement?
College
the
script
code
basically
helps
in
finding
the
right
endorsement
policy.
C
B
Well,
hello,
again,
everyone,
my
name
is
Central
the
architect
at
New,
Street,
Tech
and
more
walked
us
through
some
of
the
theoretical
aspects
of
hyperledger
fabric.
He
kind
of
set
up
the
stage
for
me
to
you
know,
shed
some
light
on
the
use
cases
which
we
implemented.
Both
crypto
and
hyperledger
fabric
on
these
use
cases
were
in
the
field
of
banking.
I
worked
with
the
company,
which
is
a
fintech
based
in
India.
B
How
high
political
fabric
has
a
lot
of
built-in
bells
and
whistles
to
take
care
of
Regulation,
as
well
as
to
comply
to
regulatory
bodies
and
India
like
most
of
the
other
G20
countries,
is
very
heavily
regulated
and
rightfully
so
in
the
field
of
banking,
and
will
tell
you
how
hyperledger
fabric
makes
it
seamless
for
organizations
both
fintech
new
age
fintech,
as
well
as
traditional
Banks,
to
comply
to
all
the
regulations
put
in
by
the
central
bodies
and
in
India
that
central
body
is
called.
There
is
a
Bank
of
India
in
the
US.
B
It
calls
the
FED
in
the
EU,
it's
the
European,
Bank
Etc,
so
on
and
so
forth,
right
so
without
further
Ado
for
the
uninitiated.
This
is
what
a
bank
looks
like
guys,
it's
fairly
simple
on
paper,
and
it
begins
with
a
lot.
You
know
a
chunk
of
products,
a
basket
of
products,
predominantly
retail
consumer
lending,
corporate
and
wealth
management.
The
products
put
together
essentially
make
the
core
of
all
banks
across
the
world,
be
JP,
Morgan,
Chase
or
HSBC
City
or
access,
and
under
these
four
umbrellas
you
get
into
the
different
business
functions
right.
B
How
do
you
originate?
A
customer,
how
do
you
basically
sell
a
debt
portfolio
which
is
actually
lending
to
customers?
How
do
you
underwrite
loans?
How
do
you
report
having
underwritten
a
loan
to
your
centralized
body,
which
in
our
case
is
the
Visa
Bank
of
India?
And
you
know,
line
item
number
three
or
the
box
number
three
is
what
I
want
to
draw
your
attention
to?
That,
essentially
is
the
core
banking
module
and
core
banking
again
essentially
works
with
a
massive
database
which
most
Legacy
banks
have
it's
called
the
poor
banking.
You
know
system
CBS.
B
B
You
know
we
have
a
Social
Security
number,
equivalent
called
the
RR
and
that
information
needs
to
reside
on
a
server
which
is
parked
within
the
Continental
borders
of
India
right.
This
is
a
regulation
that
all
of
us
need
to
amend
to.
What
this
also
requires
is
a
lot
of
The
Last
Mile
transaction
in
a
blockchain
right.
All
you
guys
know
that
blockchain
is
a
distributed
Ledger,
where
they
data
is
spread
across
different
nodes.
B
For
a
couple
of
reasons,
one
is
to
avoid
cfp,
which
is
Crash,
ball
tolerance
right
and
also
to
kind
of
make
sure
that
this
Byzantine
there's
no
Byzantine
actor,
which
can
bring
down
the
entire
system
now
in
the
banking
ecosystem
of
India.
Most
of
these
data
points
needs
to
reside
on
premise,
which
basically
means
this
is
going
to
be
a
hard
server,
which
is
time
which
is
parked
behind
the
firewall
of
a
thanks
data
center,
most
blockchain
systems
that
we
know
of
especially
the
public
blockchain
systems
work
on
a
cloud-based
architecture,
Now
The
Leverage.
B
The
advantage
of
having
a
cloud-based
architecture
is
everything
is
elastic.
Your
memory
is
elastic.
Cpu
computations
are
elastic
right.
There's
zero
latency,
as
more
mentioned
you
can,
you
know,
create
beautiful
clusters,
load
balances,
a
lot
of
things
which
can
manage
traffic
congestion.
Now,
when
you
move
this
to
an
on
premise
solution
or
a
node,
there
are
certain
restrictions,
and
one
of
the
primary
restrictions
are
getting
approvals
from
the
bank's
CSO
team,
to
open
ports,
to
implement
technology,
to
create
clusters,
to
set
up
databases
so
on
and
so
forth,
which
is
not
an
easy
task
guys.
B
So
this
will
require
working
with
different
departments
within
a
bank,
starting
with
the
risk
team.
The
treasury
team-
and
you
know
several
other
teams
to
get
approvals,
to
set
up
a
software.
One
of
the
biggest
advantages
of
installing
hyperledger
Fabric
and
more
kind
of
touched
upon
it
in
the
concept
of
multi-channel
is
once
I
set
up
a
node
within
the
bank.
Having
got
all
the
approvals
that
I
ever
need
to
plug
into
this
core
banking
system,
I
would
be
able
to
run
multiple
products
right
with
one
share
approval,
which
is
extremely
time
consuming.
B
Very
few
fintechs
and
organ
organizations
have
successfully
been
able
to
get
onboarded
by
the
Banks
purely
because
of
the
demands
and
requirements
placed
on
them
by
The,
Reserve,
Bank
of
India
and
rightfully
so
right.
So
we
will
touch
upon
how
multi-channel
that
moan
spoke
about
kicks
in
and
helps
us
out
setting
up
multiple
products
within
the
banks.
B
Another
thing
that
Mo
mentioned
was
modular
architecture
of
hyperledger
fabric.
Now
again,
this
comes
extremely
extremely
handy
in
the
case
of
banking,
because
the
on-premise
nature
of
one
of
the
nodes
has
several
restrictions.
Unlike
a
public
blockchain,
where
the
consensus
is
hard
coded
on
to
the
decentralized
system
itself.
Here
you
have
the
option
of
using
a
modular,
so
you
can
plug
and
play
different
consensus
algorithms
right,
so
the
Byzantine
fault,
tolerant,
is
essentially
you
know
it
kind
of
plays
into
the
role
of
one
size
does
not
fit
all
so.
B
What
it
does
is
every
time
I
change
the
consensus,
algorithms.
There
is
a
severe
impact
in
terms
of
truth
right
when
I
move
from
a
land
to
a
van
and
when
I
move
to
a
nested
ecosystem.
There
is
significant
impact
on
throughput
and
essentially,
I
can
pick
and
choose
which
modular
service
to
implement
within
my
blockchain
platform.
Another
big
advantage
that
I
have,
when
doing
you
know
when
using
hyperledger
fabric
for
the
banking
ecosystem
is
I,
do
not
use
words
like
crypto
or
you
know,
native
coins.
B
Going
to
our
you
know
a
used
case,
this
was
again
in
the
banking
ecospace.
Looking
at
a
concept
called
priority
sector
lending.
Essentially,
we
were
taking
the
banks
out
to
people
who
could
not
otherwise
afford
to
get
any
kind
of
debt
from
large
financial
institutions
we're
talking
about
people
who
are
below
the
poverty
line
in
India
or
people
who
are
new
to
credit.
These
are
called
NTC
customers,
they're
also
ndbs,
which
are
new
to
banking.
Now,
the
amount
of
capital
infiltration
in
India
is
about
3
trillion.
B
Rupees
right
convert
that
to
dollars,
if
you
Cricket
it
the
market,
that's
estimated
by
several
studies,
pain
and
Company.
Bcg
is
in
the
range
of
10
trillion,
so
we're
literally
scratching
the
surface
in
India,
one
of
the
biggest
issues
being
the
cost
Banks
large
banks
are
established
well
among
the
rural
areas
of
India,
and
it
takes
a
lot
of
cost
to
spend
their
wings
into.
You
know
the
Tier
Two
Cities
into
the
villages
having
feet
on
the
ground
to
make
initial
contact
with
customers.
Do
a
lot
of
the
kyc
documents,
bring
them
on
board.
B
Do
the
underwriting
process
Etc.
Another
big
problem
is
the
appropriate
product
right,
so
we
have
people
whose
credit
could
qualify
them
for
several
products
and
again
one
size
fits
all
was
a
typical
way
which
banks
did
lending.
In
the
past
we
had
a
flat
interest
rates
which
potentially
could
be
extremely
expensive
for
loyal
customers.
There
was
no
dynamic
or
intelligent
system
which
could
customize
a
particular
product
for
a
customer.
B
A
lot
of
these
things
have
been
taken
care
of
primarily
by
running
cryp
core
as
an
infrastructure
layer,
communicating
with
the
hyperledger
fabric
SDK
and
creating
an
application
which
is
very
similar
to
how
you
do
a
layer,
one
and
layer
2
abstraction
right.
If
you
from
the
public,
you
know
public
ecospaces,
so
we've
developed
an
application
on
top
of
core
communicating
with
hyperledger
fabric,
which
allows
you
to
customize
products,
making
it
very
customer
centered.
B
So
again,
looking
at
the
financial
inclusion
space
in
India
and
pretty
much
across
all
nations,
South
America,
southeast
Asia
and
Faris,
we
have
something
called
an
aadar
in
India,
which
is
very
similar
to
the
Social
Security
Network.
This
established
your
kyc.
We
have
a
multiple
credit
bureaus
which
watches
for
the
credit
scores
of
customers
again
we're
looking
at
the
lending
portfolio
across
the
regulated
entities
in
India.
We
have
several
account.
Aggregators
now
account
aggregators.
B
Do
everything
from
looking
at
your
savings
account
this
cup,
the
banking
information
of
customers,
potential
customers,
they
scrubs
social
media
activity.
They
also
scrub
the
e-commerce
websites
to
understand
what
the
customer
portfolio
Behavior
has
been
to
kind
of
do.
Behavioral
analysis
right
always
plays
a
part
in
creating
what
is
called
a
business
rule
engine
or
a
credit
rule
engine,
and
the
reason
I
put
this
up
here
is
in
hyperledger
fabric.
B
We
get
to
onboard
several
10
comments
onto
the
network
to
have
sufficient
authority
to
vouch
for
the
data
that
they
push
into
the
network
right
now,
all
these
bodies
are
government
certified
bodies
within
India,
and
each
one
has
a
certificate
which
vouches
for
their
Authority
when
we
run
apis
that
no
one
again
spoke
about.
There
is
a
lot
of
information
that
we
exchanged
apart
from
the
public
private
key.
B
Most
banks
in
India
would
charge
upwards
of
26
interest
rate
on
any
loan,
that's
awarded
to
a
customer,
14
of
which
goes
into
cost
12
percent,
again
being
the
profits
for
the
business
correspondent,
as
well
as
the
bank,
the
cost
of
credit
for
a
fintech,
which
is
an
unregulated
body
or
for
that
matter,
an
nbfc
which
is
a
non-backing
Financial
Corporation,
is
about
a
10
to
12
percent.
Now
the
impact
of
these
large
percentage
numbers
is
mostly
felt
by
the
customer
himself.
B
His
interest
repayment
on
a
loan
of
a
thousand
dollars
would
reduce
from
26
down
to
14,
with
the
insertion
of
tech
with
also
kind
of
using.
You
know,
we'll
talk
about
how
using
distributed
technology
and
hyperledger
fabric
case
in
point
allows
the
banks
to
remove
a
lot
of
the
bottlenecks
which
otherwise
are
extremely
analog
and
extremely
expensive.
B
Again,
some
of
the
limitations
with
our
con-
you
know
conventional
system
is
it's
very
analog
in
nature.
Pretty
much
everyone
has
smartphones
in
India,
in
Southeast
Asia
and
in
Africa.
Yet
a
lot
of
the
data
needs
to
be
inputted
by
feet
on
the
ground.
A
lot
of
the
primary
contact
between
a
potential
customer
and
the
bank
is
with
fit
on
the
ground.
There
are
multiple
handoffs,
as
you
saw
in
the
previous
screen.
B
A
customer
goes
through
a
series
of
events
which,
again
you
know
concurrently,
have
triggers
in
hyperledger
fabric
in
order
to
qualify
themselves
to
be
credit
worthy
or
ought
to
be
kind
of
worthy
for
the
bank
to
lend
them
money.
Some
of
these
steps
will
involve
identity,
which
is
authenticated
by
kyc.
It
will
involve
your
credit
scores
being
validated,
as
they
will
be
in
across
any
banking
system
across
the
world,
followed
by
a
series
of
documentations.
B
Now
again,
if
any
one
of
us
on
the
wrong
side
of
40,
or
course,
have
ever
taken
a
loan,
we
would
realize
the
number
of
documents
that
we
had
to
review
and
put
out
John
Hancock
right,
essentially
we'll
have
to
put
a
web
signature.
A
lot
of
these
require
Last
Mile
intervention
in
terms
of
feet
of
the
ground.
Now
anytime,
there's
feet
on
the
ground
that
also
implicates
the
cost,
because
there's
payroll
involved
this
processing
fee
involved
that
entire
burden
of
cost
is
eventually
ultimately
parked
onto
the
customer
itself.
B
Now
what
we
were
trying
to
do
with
technology
and
blockchain
in
particular,
were
to
remove
these
discrepancies
between
multiple
tenants
or
actors
in
the
network
to
kind
of
make
it
a
trustless
ecosystem.
Right
now,
we've
heard
the
association
of
the
word
trustless,
zero
proof,
zero
knowledge,
proof
being
used
with
blockchain
and
and
I'll
try
and
show
you
how
exactly
we
used
the
concept
of
hyperledger
fabric
and
trustless
ecosystems
for
both
agree
financing,
as
well
as
microfinance,
Lending,
okay,.
B
Automates
the
center
guys
simple,
as
that
we
have
several
the
tagline
that
I
parked
at
the
bottom
of
the
slide
is
from
italic
future
in
famously
quoted
it
when
he
kind
of
launched
ethereum
that
he
wanted
to
replace
Uber
or
extract
Uber
himself.
What
we've
been
trying
to
do
in
the
banking
ecosystem
in
The
Lending
ecosystem
in
India,
is
to
try
and
reduce
the
number
of
middlemen
involved
in
dispensing
a
loan
to
a
farmer
or
to
women
in
the
priority
sector
or
in
a
microfinance
world
right.
This
is
very,
very
far-fetched.
B
It's
very
common
in
Africa,
there's
tons
of
stuff
that
have
happened
in
in
the
field
of
microfinance
in
Kenya
and
Tanzania.
Likewise
in
the
Philippines
in
Malaysia
and
we've
implicated,
a
lot
of
this
information,
especially
starting
with
Mohammed
yunus
in
in
the
Grameen
Bank
in
Bangladesh,
we've
taken
a
lot
of
the
good
facets
of
microfinance
and
we've
Incorporated
them
in
India,
but
implemented
them
use
in
blockchain,
oh
yeah.
B
Here
we
go
so
we're
kind
of
moving
it
from
institution
Centric
to
customer
Centric
and
the
way
to
do
that
is
by
embedding
hyperledger
fabric
by
blockchain.
In
this
case,
as
the
common
medium
for
different
tenants
right,
so
some
of
the
different
tenants
as
part
of
a
lending
ecosystem
are
shown
on
this
line.
You
have
the
bank,
you
have
the
nbfc
insurance
companies
and
so
on
and
so
forth.
So
all
these
tenants
come
on
board
a
permission
ecosystem
by
using
an
MSP,
which
is
the
membership
service
provider.
B
Yet
there
is
an
element
of
Market
friction.
There
is
an
element
of
Doubt
amongst
the
different
tenants.
Hence
the
user
smart
contracts,
hence
the
use
of
hyperledger
fabric.
The
idea
of
using
a
smart
contract
is
to
ensure
that
all
the
tenants
sign
up
to
an
absolute
Minima
in
terms
of
requirements
on
the
criteria
on
onboarding
customers.
Right
now,
this
criteria
can
be
as
basic
as
he
or
she
complying
to
ekyc,
Norm
being
validated
by
a
government
entity.
It
could
also
mean
the
credit
score
is
being
validated
by
a
certified
Authority.
B
In
our
case,
we
have
multiple
bureaus
which
validate
and
watch
for
their
credit
worthiness
of
a
customer.
These
details,
which
are
captured
as
events,
are
encoded
into
a
smart
contract
and
again,
as
we
talked
about
earlier,
one
of
the
biggest
advantages
with
hyperledger
fabric
is
a
lot
of.
This
can
be
done
with
general
purpose
languages
right.
We
chose
to
go
with
golang
because
go
as
one
of
the
most
prevalent
languages
in
terms
of
SDK
availability,
starting
with
the
0.6
version
and
all
the
way
up
to
2.4
and
2.5.
B
Now,
one
of
the
restrictions
you
would
see
in
the
public
ecospace
is
the
usage
of
deterministic
languages.
Right
ethereum,
as
a
case
in
point,
will
only
work
with
solidity
because
they
ensure
that
it's
a
deterministic
platform.
We
have
the
luxury
of
being
non-deterministic
in
spite
of
being
doministic.
We
do
not
have
the
problems
of
double
spend
right
of
working,
because
this
is
still
a
permission
ecosystem,
each
actor
that
comes
onto
the
network,
expressively
comes
with
the
permission
of
the
anchor
and
the
MSP
will.
Let
them
know
what
their
Authority
is.
B
Right
Mohit
also
spoke
about
things
like
system
chain
code.
Now
the
system
chain
code
is
such
a
beautiful
concept
that
it
will
on
more
a
particular
tenant
onto
the
network
and
limit
the
organization's
Privileges,
and
it's
such
a
beautiful
concept,
because
we
get
to
use
this
limited
privileges
to
increase
the
throughput
of
the
entire
ecosystem
and
I'll.
Tell
you
how
we
do
that
right.
B
But
the
idea
again
is
to
use
technology,
not
only
blockchain
I
mean
we've
Incorporated
concepts
of
AI,
as
well
as
ml,
to
shift
the
focus
from
being
institution-centric,
where
everyone's
kind
of
parting
themselves
around
a
regulated
Bank
to
becoming
a
very
customer-centric.
What
are
the
topics
which,
if
I
have
time
I
can
touch
upon,
is
also
on
did,
which
is
the
decentralized
ID
which
will
allow
the
customer
to
you,
know
kind
of
show
the
level
or
the
depth
of
information
that
he
or
she
decides
to
share
with
an
entity
right?
B
B
So
as
far
as
the
actors
know
that
a
particular
event
has
been
triggered
or
even
has
been
kind
of
completed,
we
will
move
to
our
next
state
right.
This
is
basically
how
fsms
work
it's
famously
known
as
a
state
machine,
regurgitation,
SMR,
and
that
concept
has
been
heavily
borrowed
into
hyperledger
Fabric
and
onto
our
platforms
as
well.
It's
completely
rule
based
it's
even
based.
We
use
a
concept
called
Execute
order
and
validate,
which
is
very
different
from
how
the
other
blockchains
work
within
permission.
B
Blockchains
again,
you
got
different
flavors
right,
just
to
name
a
few.
You
got
Quorum
you've
got
R3,
you
got
hyperledger
fabric,
which
probably
has
the
highest
volumes.
There
are
platforms
which
work
in
a
concept
called
order,
execute
which
again
borrows
its
motivation
or
models
the
entire
architecture
from
public
blockchain
right.
If
you
look
at
ethereum
or
Bitcoin,
they
were
all
created
using
an
order,
execute
architecture.
B
One
of
the
biggest
advantages
on
hyper
leather
fabric
is
starting
with
version
0.6,
which
more
mentioned
they
moved
to
a
very
different
way
of
burning
events
which
was
Execute
Order
validate,
which
has
a
brilliant
brilliant
way
of
increasing
people.
Right,
we'll
talk
about
it
a
little
later
right
now
in
terms
of
smart
contracts.
We
touched
upon
a
lot
of
these
bullet
points
in
terms
of
pluggable
consensus.
Etc
I'm
now
going
to
spend
a
lot
of
time
in
interest.
We
will
keep
moving
on
to
the
use
cases.
B
We
will
talk
about
tokenization,
we'll
talk
a
little
bit
about
web
tree,
how
the
the
latest
trends
in
terms
of
the
hyperledger
foundations
sdks
enable
us
to
go
into
domains
such
as
tokenizations.
Without
you
know,
using
crypto,
which
is
brilliant
right.
It
fits
very
well
into
the
backing
ecosystem,
especially
into
the
regulated
ecosystem.
B
So
we
look
at
two
different
use
cases
for
now.
If
time
permits
we'll
talk
about
the
third
one,
I'd
like
to
spend
time
about,
agree
loans,
agricultural
loans-
again,
this
is
the
loans
which
are
dispersed
to
Farmers
at
their
doorstep.
They
have
been
successful
programs
which
have
been
implemented
in
South
America,
both
in
Argentina
as
well
as
Brazil.
Argentina
is
kind
of
far
ahead
of
a
lot
of
the
Nations
by
publishing
tokens
right
they've
got
Agro
tokens.
B
This
is
a
very
well
documented
program
which
was
implemented
between
Argentina
and
the
bank
of
Switzerland,
essentially
releasing
Agro
tokens,
there's
a
lot
of
activity
of
farm
loans
in
India,
and
you
know
we're
happy
to
be
partnering
with
the
core
trip
C
on
leading
the
path
on.
You
know
how
banks
are
lending
in
this
ecospace.
We
will
also
talk
about
microfinance
lending
priority
sector
lending
to
women
in
India,
a
lot
of
whom
are
new
to
bank
new
to
print
it.
B
How
technology
blockchain
in
particular
eases
a
lot
of
the
cost
errors
that
Banks
had
to
endure,
and
on
top
of
that,
it
also
kind
of
makes
it
accessible
for
customers
in
in
very
deep
interior
villages
to
get
access
to
finance,
which
otherwise
would
not
be
possible
guys
if
time
permits
will
look
at
Finance
against
remittance.
It's
called
far.
It's
all
about
how
we
move
money
across
borders.
We've
also
got
a
concept
called
remittances
and
lending
against
remittances
and,
of
course,
decentralized
risk.
B
So
the
bigger
problem
was:
how
do
farmers
even
access
get
access
to
Banks?
The
only
way
for
them
to
get
access
to
Banks
was
to
travel
to
the
tier
one
cities
or
to
the
theater
cities,
where
the
banks
had
physical
branches,
and
this
was
a
cost
center
on
the
farmer
themselves.
Once
he
did
this
arduous
task
of
commuting,
he
had
to
go
through
an
entire
process
of
producing
the
right
paperwork
right.
This
could
amount
to
him
producing
a
lot
of
the
identity
cards.
B
It
would
also
require
for
him
to
carry
a
huge
bulk
of
paperwork
which
validates
that
he,
in
fact,
is
the
owner
of
a
parcel
of
land
which
he
would
then
use
as
a
collateral
to
raise
debt
right
once
these
paperworks
are
presented
to
the
bank.
Now
the
banks
have
no
motivation
to
go
and
validate
every
piece
of
paper
that
they
receive
from
a
farmer.
What
they
would
typically
do
is
accumulate
large
number
of
files
from
a
you
know
a
share
border
of
farmers
before
they
would
do
the
validation
themselves.
B
B
B
Immediate
need,
unfortunately,
if
he
had
a
21
day
attack
or
a
turnaround
time.
The
need
for
requiring
the
debt
goes
away.
Guys
and
that's
that's.
You
know
unpardonable
what
we
did
with
technology
and
blockchain
again
was
to
reduce
that
total
turnaround
time
from
20
days,
three
weeks
down
to
five
minutes
and
that's
essentially
what
it
took
for
us
to
dispense
the
loan
to
a
farmer
at
his
doorstep,
with
all
the
checks
and
controls
in
place
right,
the
bank
at
the
end
of
the
day
is
very
heavily
regulated.
B
B
Again,
if
you
were
to
go
on
to
hyperledger
Fabrics
website,
look
up
any
documentation.
This
block
diagram
would
seem
very
familiar
across
a
lot
of
the
documentar
that
is
published
by
hyperledger
fabric,
the
the
Block
in
the
middle
of
the
chart.
So
it's
going
to
come
out.
The
video
for
a
second,
the
Block
in
the
middle
of
the
chart,
essentially,
is
how
we
spread
the
nodes.
B
Each
node
and
represents
the
organization
in
the
network
what
we've
done
is
zoomed
into
a
particular
organization
and
we've
kind
of
shown
you
how
we
dissect
the
organization
into
multiple
nodes
right
again
mode
spoke
about,
although
the
architecture
is
very
different
from
the
others,
the
and
I
spoke
about
the
you
know
validate
being
the
last
part
of
it.
We
kind
of
do
the
evaluation
part
of
it
ordering
as
well
as
validating.
B
What
this
allows
us
to
do
is
bring
up
an
organization
into
multiple
nodes,
each
with
its
own
responsibility,
I'd
like
to
point
you
out
to
two
or
three
different
actors.
Here
we
have
something
called
as
an
endorsing
peer
with
a
ordering
peer
and
a
committing
here.
Now
these
peers
are
all
part
of
the
same
organizations,
yet
they
have
unique
responsibilities
and
endorsing
node
within
an
organization
has
the
primary
responsibility
of
taking
in
transactions
from
a
client.
Now
the
client
can
be
an
actor
with
a
mobile
phone.
B
In
our
case,
a
client
is
a
agricultural
officer,
who's
standing
in
front
of
a
farmer
taking
in
primary
details
right
these
primary
details,
which
are
absolutely
crucial
for
the
bank
to
validate
and
consider
whether
the
farmer
is
in
fact
eligible
for
a
loan
are
fed
to
him
through
a
mobile
application
which
we
developed
in
kotlin.
This
data
goes
into
the
endorsing
peer
into
a
smart
contract,
which
has
certain
rules
to
evaluate
the
primary
data.
Once
the
data
has
been
evaluated,
the
transactions
have
been
completed,
I
sent
them
off
to
in
order
now.
B
This
is
where
the
plugable
consensus
comes
in.
We've
used
the
raft
which
is
fairly
fairly
stable
at
this
point
in
time,
we're
working
with
Byzantine
bzt,
which
has
become
a
very
stable
consensus
algorithm.
You
know,
starting
with
2.4
version
of
hyperledger
fabric,
what
the
consensus
algorithm
does.
Is
it
orders
all
the
transactions
coming
in
from
different
endorsing
peers?
It
also
does
a
couple
of
other
things:
it
does
a
very
first
level
validation
if
every
peer
has
impact
got
the
necessary
endorsements,
so
endorsements
are
nothing
but
signatures
which
are
given
by
different
participants.
B
Saying:
hey
I
see
what
you've
done
and
I
validate
it,
because
I
think
you've
done
it
based
on
a
smart
contract.
You
comply
to
everything
that
we've
agreed
upon
once
the
nodes.
Once
the
order
has
kind
of
created,
all
the
transactions
put
them
in
a
beautiful
neat
order,
which
is
basically
what
the
hash
chain
is
all
about.
We
then
push
this
back
to
the
client
himself,
telling
him
guys
everything
that
you
asked
for
is
done.
B
We've
created
what
you
call
as
a
read
write,
set
everything
that
you
kind
of
pushed
into
the
data
using
input
variables.
I
have
transacted
I've,
also
created
what
the
output
is,
which
in
hyperledger
terms,
I
call
it
as
a
right
set
right.
Once
I
publish
this
to
the
client,
the
client
takes
over
and
sends
it
to
all
the
peers
and
the
peers
can
communicate
on
them
among
themselves
using
a
gossip
protocol.
B
Again,
gossip
is
a
beautiful,
beautiful
Concept
in
hyperledger
fabric,
which
ensures
that
one,
you
can
do
a
lot
of
things
offline
right,
which
is
most
unlike
any
distributed
ecosystem.
If
you're
talking
about
a
public
ecosystem,
everybody
has
to
be
online.
You
cannot
kind
of
go
offline
and
then
you'll
end
up
having
an
offsync
fork
or
a
double
spend
gossip
protocols
essentially
allow
peers
to
talk
to
each
other.
B
If
one
of
the
peers
were
to
fall
off
the
network
for
any
reason
right,
it
could
be
a
network
outage,
it
could
be
loading
on
the
the
load
itself.
He
can
always
come
back
and
do
a
push-pull
mechanism
to
ensure
that
all
the
world
states
are
synchronized.
Now,
once
the
client
pushes
the
data
back
to
all
the
peers,
the
peers
validate
the
transactions
by
looking
at
the
endorsements,
they
look
at
the
metadata
and
once
everything
seems
to
be
in
order
only
then
do
they
burn
it
into
their
ledgers.
B
Now
this
is
the
validation
part,
and
the
burning
in
is
done
by
something
called
a
committer
now,
because
I'm
able
to
park
these
different
activities
across
peers
within
the
same
organization.
My
throughput
is
through
the
roof
guys
I
can
achieve
up
to
3500
transactions
per
second.
The
PPS
has
substantially
gone
up
now
because
of
several
improvements
done
by
the
Linux
Foundation.
B
Also
because
of
several
improvements
in
how
we
can
deploy
this
on
cloud
right,
Mohan
talked
about
kubernetes
clusters,
load
balances,
so
on
and
so
forth
now
I
mean
that's,
that's
hyperledger
Fabric
in
a
nutshell,
right
in
terms
of
Agri
funding.
What
are
the
unique
features
that
we've
Incorporated
is
validate
the
land
records
of
the
farmer
themselves,
which
otherwise
have
to
be
done
using
an
analog
manner?
B
Now
one
of
the
pain
points
of
the
bank
is
to
ensure
that
the
farmer
has
not
used
the
same
parcel
of
land
across
any
other
bank
or
if
he
has
not
pledged
his
land
with.
You
know
a
P2P
lender
or
a
fintech
which
may
not
have
reported
it
to
the
regulated,
Authority
we've
kind
of
Allied.
This
fear
for
the
bank
by
pulling
the
land
record
information
using
apis
from
the
Department
of
Revenue
right.
B
It
did
require
that
these
land
records
be
digitized
India,
like
most
nations
in
G20,
as
well
as
in
Africa,
have
digitized
land
records
which
enables
us
to
take
this
data.
Most
of
the
data
is
in
the
XML
format.
It's
in
Json
key
value
pairs,
which
makes
it
perfect
to
pull
it
into
the
smart
contracts.
Smart
contracts
love
key
value,
pads
right.
They
love
gcps.
Now,
once
we
pull
the
data
in
we're
able
to
evaluate
it,
we're
also
able
to
lean
Market
when
we
lean
Mark
a
land
document.
B
It
so
again
this
is.
This
is
probably
where
I'll
stop.
If
I
can
kind
of
just
park
myself
with
microfinance,
I
spoke
about
how
complicated
things
are
working
with
banks.
Now
that
I've
kind
of
integrated
a
lot
of
the
poor
banking
apis
using
a
bank
mode,
which
is
an
anchor
node
on
my
blockchain
channel
and
hyperledger
channel
I,
am
able
to
spin
off
several
business
functions
using
the
same
network.
I
do
not
have
to
go
back
to
the
bank
for
multiple
approvals.
B
A
That's
great,
thank
you
very
much
until
and
yeah
sorry
to
cut
it
short,
but
we
are
at
the
top
of
the
hour,
but
anyway,
thank
you
so
much
Mohit
and
sentil.
You
covered
really
great
information.
It
was
really
interesting
presentation
and
thank
you
so
much
for
your
time
and
thank
you
also.
Everybody
for
joining
us
live
on
this
webinar.
Let
me
just
share
my
screen
here
now.
A
I
saw
that
some
of
the
answer
questions
unfortunately
weren't
answered
so
feel
free
to
post
them
on
our
Discord
or
also
reach
out
to
creepsi
and
New
Street
Tech
teams
as
well
to
follow
up
with
that
and
again.
Thank
you
so
much
for
joining
us
now
before
we
part
I
would
like
to
invite
you
to
join
our
Discord
and
explore
our
channels
relating
to
projects,
special
interest
groups,
working
groups
and
much
more.
It's
a
native
community
and
there's
a
lot
of
real-time
interaction.
There.
A
Please
also
make
sure
to
check
our
events
page
to
see
or
the
upcoming
webinars,
as
well
as
other
so
technical
Workshop,
as
well
as
online
events.
Again.
Thank
you,
everybody
so
much
for
joining
and
thank
you
to
our
panelists
Saint
Helen
Mohit,
for
this
great
presentation.
We
hope
to
see
you
again
soon.