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From YouTube: Hyperledger Member Webinar - IntellectEU April15, 2020
Description
Financial institutions use KUBE (based on Hyperledger Fabric) for sharing corporate data as part of the Know Your Customer process. It streamlines the verification and maintenance of corporate identities for businesses and banks. In this way, KUBE accelerates the provision of services to businesses and intensify the fight against fraud and money laundering. KUBE allows the Belgian financial sector to be the first to use blockchain on a large scale for the identification of businesses. During this webinar we will dive deeper into the challenges of data privacy, enterprise-grade deployment, and security issues regarding to Fabric in production.
----
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 #Blockchain
A
A
Today
we
will
be
hearing
from
Thomas,
Boehner
and
Thomas
Mets
from
intellect
EU.
They
will
be
talking
about
their
project.
Cube,
know
your
customer
on
blockchain.
Now,
if
anybody
has
any
questions,
please
use
the
Q&A
box
or
raise
your
hand.
We
will
be
observing
the
Q&A
and
I'll
be
trying
to
enter
the
questions
as
we
go
towards
the
end.
We
will
have
a
proper
Q&A
session.
A
B
Thank
you
very
much
more
time.
Yes.
First
of
all,
we
would
like
to
thank
hypo
later
in
the
linux
foundation
for
this
opportunity
to
to
present
here
today
and
to
do
this
webinar
and
to
kick
off
this
series.
We
have
been
involved
with
the
hyper
ledger
community
since
2016
since
the
beginning,
as
a
founding
member
and
there's
always
been
our
pleasure
to
work
together
and
to
collaborate
with
this
open
source
community.
B
What
we
will
try
today
is
to
give
you
a
very
short
introduction
into
intellect
you
what
we
do
as
a
company,
you,
an
AML
compliance
as
a
use
case,
so
more
from
a
generic
approach.
What
is
the
opportunity,
the
problem,
and
what
do
we
see
as
a
solution?
And
then
my
colleague
Thomas
maths,
with
our
kyc
business
analyst,
will
dig
a
bit
deeper
into
the
cube
platform
itself.
B
So
cube
is
a
project
where
intellect
to
you
is
the
technology
partner
of
the
is
bell
group
in
Belgium
and
for
large
Belgian
banks,
BNP
paribas,
belfies,
KBC
and
ing
where
we
are
developing
a
kyc
utility.
We
will
go
a
bit
deeper
into
the
technologies
tank,
the
value
proposition
and
how
it
actually
works,
and
then,
as
Martha
said,
we
will
leave
definitely
some
time
for
Q&A,
but
so,
let's
dive
into
it.
B
So
me,
myself,
Thomas,
Bonner,
I'm,
leading
blockchain
and
DLT
solutions
at
intellect
to
you
intellect
to
you
has
been
around
for
quite
a
while.
We
were
founded
about
14
years
ago
as
a
traditional
systems.
Integrator
from
there
we
started
working
together
with
an
organization
named
Swift
focused
mainly
on
integration,
with
back
office
systems,
configuration
of
financial
messaging
and
implementation.
From
there
we
have
grown
to
become
a
global
Swift
services
partner
with
multiple
certified
engineers,
and
we
build
up
some
capabilities
and
knowledge
and
know-how
in
payments
and
financial
services
industry
from
their
own.
B
We
work
mostly
with
the
technologies
of
the
hyper
ledger
and
we
have
multiple
projects
into
production
today.
So
let's
dive
a
bit
deeper
into
kyc
itself,
so
KY
C
stands
for
know
your
customer
and
know
your
customer
is
a
process
that
all
financial
institutions
Solutions
and
have
to
do
to
be
compliance
with
multiple
our
regulations.
This
can
be
European
US
based
regulations,
but
also
there
are
some
global
regulations
for
know
your
customer.
B
The
main
problem
is
that
today,
this
process
of
client
onboarding
is
very
paper-based
very
manual
and
very
labor
intensive,
and
if
we
go
look
at
some
of
the
numbers,
they're
really
big.
The
real
cost
of
AML
compliance
is
thought
about
to
be
over
a
hundred
and
ten
billion
yearly
for
financial
institutions
in
US
and
Europe.
So
this
is
without
the
financial
institutions
in
it
I'm.
Why
is
this
so
costly
because
most
of
the
KYC
programs,
so
the
validation
of
customer
data,
of
both
for
individuals,
retail
clients
as
corporates
is
very
labor-intensive.
B
C
A
B
Have
an
average
as
a
me:
I
can't
takes
about
20
hours
of
due
diligence,
so
this
makes
it
actually
pretty
expensive
and
to
have
a
positive
return
on
investment
of
onboarding.
This
as
a
me
and
giving
this
as
me,
financial
services
products
can
take
quite
a
while.
So
why
has
this
industry
not
really
involved
a
lot?
This
is
because
we
see
a
lot
of
market
domination
by
three
main
players,
being
it
refinished
out,
Jones
and
LexisNexis.
B
B
Be
back
and
also
tremendously
lowered
the
costs
for
these
financial
institutions.
So
what
is
the
actual
problem?
So,
first
of
all,
there
is
a
lack
of
transparency
and
the
regulatory
requirements
for
financial
institutions
are
increasing.
So
we
have
GDP
are
the
data
privacy
requirements
which
are
becoming
more
and
more
stringent.
We
have
the
AML
directives
coming
up
where
these
banks
have
to
check,
with
the
the
pp
lists,
for
example,
and
what
we
also
see
as
a
main
problem
is
that
there
is
a
duplication
of
efforts.
B
It's
even
bigger
than
that.
If
you
are,
for
example,
let's
say
a
client
with
a
bank
in
Belgium,
and
you
want
to
open
an
account
in
another
country-
let's
say
the
UK,
but
with
the
same
bank,
you
might
have
to
go
through
the
same
processes
of
providing
your
data.
The
KYC
officer
might
be
doing
again.
Your
qia
data
validation
and
this
whole
process
might
have
a
very
negative
impact
not
only
on
the
customers,
happiness,
the
customer
acquisition,
but
also
on
the
productivity
of
employees,
because
they
are
doing
very
repetitive
tasks
of
verifying
this
data.
B
And
then
what
we
see
also
in
this
industry
is
that
there
is
a
clear
lack
of
standards
and
accessibility
of
this
data
so
standards.
What
what
do
we?
What
do
we
mean
with
this?
We
see
that
a
lot
of
the
financial
institutions
are
asking
the
same
data
of
these
corporates
over
over
over
time
in
the
onboarding
process.
So
they
might
ask
it
in
a
different
format,
but
the
actual
data
set
itself
that
the
requirement
requiring
is
quite
the
same.
B
So
there
is
no
holistic
view
on
actually
the
the
corporate
identity
of
your
clients
for
these
banks,
and
so
this
is
what
we
try
to
solve
and
we
believe
that
the
solution
is
a
platform
infrastructure,
so
we
shared
interbank
or
interbank
kyc
utility
that
can
be
based
on
distributed,
ledger
technology.
We
believe
this
beautiful.
B
The
technology
can
have
a
big
impact
on
creating
trust
between
multiple
financial
institutions
and
the
ability
to
share
the
data,
but
as
in
most
of
the
blockchain
products
and
platforms
that
intellect
you
is
building
law
chain
is
only
a
part
of
this,
so
we
leverage
smart
contracts
and
other
technologies
to
standardize
the
workflows
and
the
data.
This
also
goes
beyond
the
technology,
but
also
very
important.
There
is
a
collaboration
between
banks,
financial
institutions
and
eventually
other
industries.
B
We
believe
a
solution
should
be
digital
first,
so
a
corporate
should
be
able
to
onboard
almost
in
minutes
through
an
online
web-based
platform.
This
is
then
fully
API,
driven
so
can
be
integrated
into
the
existing
front
office
systems
of
the
bank's.
We
do
this
to
shorten
the
onboarding
flows
and
to
also
increase
customer
happiness.
B
So
isabel
group
very
shortly
an
introduction,
so
we
are
working
with
five
financial
institutions,
the
isabel
group,
with
leading
this
project
from
a
business
and
governance
and
an
IT
maintenance
perspective
who
also
initiated
this
project
with
its
four
shareholders,
the
big
banks
being
paper
about
belfies,
KBC
and
ing,
and
the
plan
is
to
expense
this
platform
for
banks
across
europe.
Over
time,
corporates
of
more
than
five
european
countries
will
be
on
boards.
B
There
have
been
a
lot
of
conversation
with
regulators
and
the
governments
involved
to
make
it
a
fully
compliant
solution
and
also
within
Isabel
Group
and
definitely
add,
intellect
to
you.
We
see
the
potential
to
expand
this
to
other
industries,
so
very
shortly
touch
upon
that
kyc
is
a
process
that
banks
have
to
do
because
they
have
to
be
compliant
with
all
these
regulations
but
think
about,
for
example,
the
telco
industry
that
is
continuously
onboarding
retail
and
corporate
clients,
and
it
also
needs
to
verify
and
validated
his
data
for
them.
B
It
can
also
be
a
very
helpful
solution
and
then
other
data,
consumers
like
accountants,
lawyers
and
the
government
itself-
that
can
leverage
this
validated
data.
So
I
will
stop
here
with
this
very
short
introduction
on
intellect
to
you
on
where
we
think
the
opportunity
is.
We
know
your
customer
programs
and
then
I
will
give
the
the
floor
to
my
colleague
Thomas.
We
will
dig
a
bit
deeper
into
the
actual
cube
projects.
Yes,.
D
Thank
you
so,
as
Thomas
already
mentioned
during
the
introduction,
my
name
is
Thomas
as
well.
It's
not
the
most
original
name
in
Belgium
and
I
work
as
an
analyst
on
the
cube
project.
So
you
may
be
go
to
the
next
slide,
so
Tom
already
stated
nicely
the
problem
and
what
we
see
as
a
solution,
but
we
not
only
see
it
as
a
solution.
We
are
actually
helping
in
developing
it
together
with
the
four
big
banks
of
Belgium
and
Isabel
group.
D
So,
to
give
a
short
summary,
what
do
we
see
as
the
three
big
solutions
to
help
banks
in
making
this
kyc
process
less
expensive?
It
is
one
to
standardize
the
KYC
data
set
that
every
financial
institution
needs
to
collect,
to
standardize
the
processes
around
it
to
make
it
all
digital
and
last
to
have
just
one
shared
truth
of
the
data
set
that
is
shared
between
the
different
banks.
So
how
do
we
reach
those
goals
with
our
application?
I
am
going
to
show
you
this
with
the
three
most
important
flows
in
the
cube
project.
D
First
and
after
that,
we
dive
a
bit
deeper
in
the
technology,
stack
that
we
use
to
run
our
application
and
then,
finally,
it
gives
a
good
summary
of
how
you
reach
those
value
propositions
that
Thomas
showed
in
his
last
slides.
So
what
you
see
on
the
screen
is
the
first
onboarding
flow
of
a
legal
entity.
So
what
are
the
participants
that
you
see
on
the
screen?
We
have
the
legal
entity
on
the
Left
top.
He
wants
to
abort
at
a
bank
bank
a
in
this
case
and
important.
D
The
entity
is
not
yet
on
the
cube
system.
So
it's
the
first
time
the
entity
will
on
board
at
the
bank,
but
also
the
first
time
he
Pond
boards
at
one
bank.
That
is
a
participant
in
the
cube
system.
In
the
middle,
we
have
our
kyc
application.
On
top,
we
have
third
parties
that
provides
data.
We
have
our
ledger
and
the
regulator.
So
what
are
now
the
flows?
First,
the
bank,
the
entity
goes
to
a
bank
and
they
ask
I
want
to
become
a
client.
D
The
bank
says:
ok,
please,
on
board
via
our
cube
system,
so
the
entity
goes
online
to
the
K
YC
cube
platform.
The
first
thing
that
we'll
do
is
we
already
try
to
pre-fill
our
data
set
in
the
Appalachian
as
much
as
possible
with
data
we
get
from
third
sources,
and
so
here
we
want
to
help
the
digital
onboarding.
We
want
to
use
data
that
already
exists
as
much
as
possible,
so
the
third
sources
are
used.
We
already
have
some
data
in
our
data
set
and
then
we
go
to
point
4.
D
The
entity
completes
it's
data
set,
then
very
important
in
our
application.
We
don't
only
collect
data.
We
also
immediately
verify
the
data.
This
is
really
a
labor-intensive
process
that
the
bank
has
to
do
so.
This
is
step
5.
The
bank
will
look
at
each
the
other
field
in
the
data
set.
They
will
verify
if
what
the
entity
states
is
indeed
correct,
and
if
that
is
the
case,
they
put
their
verification
on
the
data.
Once
the
whole
data
set
is
filled,
it
is
verified.
It
is
then
stored
in
one
database
at
the
bank
side.
D
So
what
we
have
done
so
far
is
nothing
different
than
how
the
KYC
onboarding
process
works.
Today,
then,
what
is
the
big
difference
is
that
we
have
standardized
this
data
set,
so
the
data
the
legal
entity
has
to
provide
between
all
financial
institutions
and
it
is
stopped
step
7.
So,
once
all
the
data
is
collected
and
verified,
we
will
store
it
on
the
ledger.
Of
course,
we
won't
store
the
data
itself
on
the
ledger,
because
gdpr
says
that
you
have
the
right
to
be
forgotten,
while
a
ledger
is
immutable.
D
D
D
Okay,
so
so
far
here
we
gained
already
a
standardized
process
and
we
have
an
easy
digital
onboarding,
but
the
real
power
of
cube
will
be
visible
in
the
next
slide.
So
Thomas
can
you
go
to
the
next
okay
yeah
right
one?
So
now
we
see
the
real
benefits
of
cube.
The
legal
entity
is
already
a
client
at
Bank
a,
but
now
they
want
to
on
board
at
Legg
B
as
well.
D
How
it
works
today
is
that
they
have
to
go
through
the
whole
process
again
of
entering
all
their
data
and
Bank
B
has
to
verify
everything
as
well.
With
cube.
This
is
not
necessary.
With
cube,
we
will
be
able
to
reuse
the
work
that
entity
has
done
to
provide
this
data
and
to
reuse
the
work
that
Bank
a
performs
to
verify
it.
So
how
does
it
work?
The
entity
again
asks
that
baby
to
become
a
client,
but
now
Bank
B
says:
okay,
please,
on
board
via
cube.
D
Since
you
already
are
a
customer
at
Bank
a
now,
the
entity
provides
consent
to
baby
that
they
may
use
the
data,
so
they
register
on
the
ledger
that
baby
can
have
access
to
the
data
of
the
entity
once
this
is
done
by
B,
we'll
send
a
request
to
bank
a
can
hi.
Please
have
the
data
of
the
entity,
of
course,
Bank.
A
won't
just
believe
that
Bank
B
has
right
to
receive
the
data.
D
No,
like
a
will
first
check
on
the
ledger:
if
baby
indeed
has
the
consent
to
receive
the
data,
and
if
this
is
the
case,
baby
will
transfer
the
data
from
their
private
database
to
the
private
database
of
baby.
If
they
has
received
the
data,
they
want
to
be
sure
that
is
the
right
data.
That's
the
entity
entered
some
couple
of
weeks
before.
D
How
can
they
be
sure
they
will
hash
all
the
data
and
then
they
will
check
if
that
hash
corresponds
with
what
is
on
the
ledger
once
what
is
what
is
on
the
ledger
from
when
Bank
a
collected
and
verified
data?
So
in
this
way,
baby
can
still
be
sure
that
the
data
they
received
from
Bank
a
is
indeed
the
data.
That's
the
entity
provided
if
everything
is
okay
by
B
will
of
course,
compensate
Bank
a,
and
so
it
is
really
they
will
give
some
money
to
bank
a
because
Bank
a
did.
D
D
Okay,
then
we
can
go
to
the
next
slide,
so
we
now
have
a
legal
entity
that
is
on
board
it's
at
Bank,
a
and
bi
B,
and
now
we
arrive
at
a
step
that
is
often
forgotten.
When
people
talk
about
kyc
processes,
they
always
talk
about
the
onboarding,
but
actually
the
big
work
of
the
compliance
departments
at
Bank
is
handling
all
the
updates
of
kyc
Dada.
For
instance,
in
Belgium
alone,
a
country
of
eleven
million
people
there
are
more
than
1
million
small
and
medial
entities.
A
number
of
them
are
clients
at
financial
institutions.
D
So
all
the
data
of
all
those
entities
needs
to
be
updated
in
the
current
processes.
If
an
entity
has
data
is
changed,
they
have
to
go
to
all
the
banks.
They
are
client
of
separately
to
update
their
data,
so
this
is
again
a
lot
of
redundant
work
both
for
the
entity.
As
for
the
bank
with
Cube,
this
is
not
necessary.
With
cube
the
entity
will
update
his
data
at
one
bank
and
then
via
cube.
This
update
will
arrive
at
all
the
banks
in
a
trustless
way.
So
how
does
this
work
then?
D
D
The
bank
really
the
entity
to
change
it
in
the
cube
system.
So
again
the
entity
changes
in
cube
that
their
address
is
now
somewhere
else.
Maybe
we'll
verify.
If
this
indeed
is
correct,
is
this
entity
indeed
now
at
another
address?
If
it's
the
case,
they
will
stir
it
locally
and
they
will
update
the
ledger,
so
they
will
store
a
new
hash
of
the
data,
because
the
address
changes,
the
hash
of
the
data,
will
change
as
well
and
they
will
store
that
they
did
verification
work
so
that
other
bank
did
indeed
know
it
is
true.
D
If
the
ledger
is
updated
and
Bank
a
has
consent
from
the
entity
to
access
the
data,
they
will
see.
Okay,
there
is
an
update
made
by
Bank
B
and
thanked
a
will
request
by
B
can
I.
Please
have
this
update
as
well,
and
then
the
steps
that
follow
are
the
same
as
we
saw
in
the
previous
slide.
So
baby
will
first
check
if
Bank
a
indeed
has
an
excess
grant
of
the
entity,
so
if
they
have
the
rights
to
share
and
receive
the
data
of
that
entity.
D
If
this
is
the
case,
they
will
send
the
data
back
to
bank
a
bank.
A
will
then
compare
the
data
they
received
with
the
hash
on
the
ledger,
and
if
this
is
also
okay,
they
will
send
a
monetary
reward
to
bank
B
to
pay
for
the
work
that
Bank
B
has
done.
So
in
this
slide,
you
can
easily
see
how
we
managed
to
reach
our
three
goals,
so
with
kyc
application
we
have
one
data
set
and
one
processes
for
kyc
at
all
financial
institutions
that
participate
in
our
network.
D
D
D
Let's
start
with
a
real
core
application
itself,
so
these
are
the
three
both
top
layers
and
the
API
gateway,
the
orchestration
app
and
the
different
components
so
at
intellect
we
use
for
applications,
cloud
based
system,
a
very
logic,
leveraged,
docker
and
kubernetes.
What
does
this
mean?
Actually
we,
instead
of
one
big
application,
we
built
all
small
components
and
these
are
actually
applications
on
themselves
which
communicate
which
communicates
with
its
each
other
API
based,
so
they
send
API
calls
to
each
other.
D
What
is
the
advantage
from
this
is
that
each
task
it
has
to
be
performed,
works
in
its
own
application.
So
in
this
it's
a
very
scalable
way
to
work.
If
we
need
a
new
functionality,
we
can
just
make
a
new
component
and
make
it
interact
with
the
existing
components.
It's
easy
testable
and
we
can
reuse
similar
components
in
different
projects.
So
now,
let's
take
a
look
at
the
individual
components.
So
since
it's
API
based
our
whole
application,
we
of
course
have
an
API
gateway.
D
D
Next,
we
have
the
orchestration
application.
What
is
to
is
to
handle
complex
tasks
which
require
multiple
components
to
work
together,
so
they
will
determine
the
order
in
which
different
components,
work
or
if
some
components
need
information
from
another
component,
they
will
make
sure
that
all
processes
go
well
and
then
the
top.
This
is
actually
our
real
application,
and
so
each
individual
components
will
tackle
one
of
the
tasks
we
saw
in
our
flows,
and
so
the
first
and
most
important
one
is
the
KYC
data
set
application.
D
This
application
manages
everything
that
has
to
do
with
the
data
set
itself
the
rules,
how
they
it
should
be
filled
in
it,
handles
the
evidence
documents
it
handles
the
verification
the
bank
makes
so
it
handles
all
those
processes.
The
second
important
is
the
grant
application,
so
this
application
checks
and
updates
the
access
grants.
Certain
financial
entities
have
for
the
data
set
of
a
legal
entity.
Then
we
have
some
more
generic
applications
as
a
notification,
application,
the
ledger
gateway
and
general
workflows
and
templates,
and
so
we
have,
as
I
said
before,
one
internal
database.
D
It's
also
one
component
a
new
year
for
this
project.
We
worked
with
both
Chris,
then
I
think
what
is
interesting
for
a
lot
of
people
in
the
call
it's
actually,
then,
what
do
we
use
for
our
blockchain
layer?
Our
ledger?
We
use
for
the
moment,
Harper
ledger
fabric,
one
point:
for
probably
once
we
go
in
prediction,
we
will
go
to
two
point:
zero,
but
currently
everything
is
written
in
with
hyper
ledger
1.4.
D
Here
we
have
three
main
smart
contracts,
so
one
is
for
storing
the
consent
of
the
financial
institutions.
So
it's
to
store
that
financial
institutions
have
the
right
to
share
and
receive
data
of
a
certain
entity.
We
store
the
hashes
of
the
data
as
a
proof
that
we
received
at
that
time
and
the
data
that
we
store,
if
you
later
send
it
to
another
entity,
because
we
have
stored
the
hash
of
the
data
on
the
ledger.
D
The
other
entities
can
verify
that
the
data
they
received
is
the
same
as
the
data
that
was
stored
and,
lastly,
we
store
the
different
verification,
each
beg
mates
to
prove
that
what
the
entity
claims
is
correct
to
reach
consensus
between
the
different
order
nodes
in
the
network.
We
use
the
rough
protocol,
it's
the
standard
protocol
for
fabric
1.4.
D
Then
something
we
are
very
proud
of-
that
we
also
use
in
a
lot
of
our
applications,
is
the
catalyst
blockchain
plot
forum.
Where
do
we
use
it
for,
and
so
we
work
with
hyper
ledger
fabric,
so
the
four
banks
in
our
network
today
have
to
use
Hyper
logic
fabric,
but
all
of
them
actually
use
in
their
own
bank
sites,
different
cloud
providers,
so
what
we
can
do
with
our
catalyst
like
blockchain
platform,
it's
something
we
built
with
intellect
and
it's
really
a
platform
as
a
server.
We
can
run
hyper
ledger
fabric
on
it.
D
Well,
it
is
cloud
agnostic,
so
we
can
host
our
platform,
both
in
Azure
in
Amazon
with
IBM
clouds.
So
in
this
way
we
can
really
make
applications
that
are
more
than
just
a
nice
proof
of
concept.
We
really
make
applications
that
banks
and
institutions
can
use.
The
last
part
you
see
on
our
technology
stack
is
the
catalyst
integration
solution.
This
is
also
something
we
developed
with
intellect
you.
D
Okay,
then
I
think
to
summary
what
we
said
today:
how
can
prove
I?
Can
our
platform
provide
value,
a
one?
It's
a
trusted
platform
with
one
single
truth.
So,
first
we
have
a
standard,
kyc
data
set
and
a
standard
life
cycle.
There
is
only
one
truth
of
a
data
set
that
is
shared
between
the
different
financial
institutions,
because
it
uses
a
blockchain.
It
is
fully
auditability.
D
D
So
new
participants
can
join
the
network
very
important.
It
is
completely
regulatory
compliant,
so
we
already
mentioned
empty
boundary
and
the
money
laundering
and
GDP
are
but
legislation
for
banks
is
way
stricter
and
we
also
have
competition
law
and
bank
secrecy
and
those
four
together
really
show
why
we
need
a
blockchain.
So
we
want
to
have
a
shared
truth.
That's
because
we
are
also
fall
under
competition
law
and
bank
secrecy.
We
can't
just
work
with
one
bank
that
collects
centralized
all
the
data
and
then
distribute
it
to
the
other.
D
D
D
We
can
think
of
leasing
companies.
They
also
have
to
do
it's
little
more
limited
than
a
financial
institution,
but
they
also
have
to
do
their
kyc
work.
We
can
imagine
they
are
interested
to
join
our
network
and
that
the
final
solutions
actually
can
make
a
revenue
stream
out
of
verifying
data.
They
can
Unseld
it
also
to
other
third
parties,
of
course,
with
consent
of
the
legal
entity.
B
Thank
you.
Thank
you
very
much
Thomson
and
before
we
dive
into
Q&A
I
very
shortly,
also
in
to
touch
upon
some
of
the
challenges
that
we
have
seen.
We
didn't
elect
you
and
how
we
have
been
involved
in
this
project
and
have
been
involved
in
in
overcoming
some
of
these
challenges
and
the
lessons
learnt
related
to
that.
B
So
we
were
involved
with
this
project
from
the
beginning
on
helping
doing
business
analysis,
the
requirements
with
the
regulatory
teams,
the
compliance
teams,
but
also
from
an
architecture
side,
because
we
work
with
a
new
technology
being
at
blockchain
and
hyper
ledger
and
hyper
edge
of
fabric
and
as
much
as
we
love
to
work
with
it.
We
still
see
some
challenges
there,
definitely
in
deployment
and
and
on
the
runny
face.
These
technologies
are
very
good
and
very
easy
to
deploy.
B
Some
group
of
concepts
to
do
prototypes,
but
to
actually
bring
it
into
production
is
an
all
other
story,
and
there
would
intellect
you
not
only
with
this
project,
but
also
some
of
our
other
hydrology
of
fabric
projects.
We
have
been
able
to
overcome
those
so
definitely
working
with
financial
institutions
where
we
see
very
strict,
non-functional
and
security
requirements.
B
We
have
collaborated
very
closely
with
them
to
get
this
right,
to
get
all
the
tooling
for
monitoring
etc
for
the
blockchain
ready
and
then
as
well,
provide
these
integration
services
as
Thomas
said,
blockchain
applications
and
definitely
not
data
sharing
applications
can
exist
as
stand-alones,
but
they
need
to
be
integrated
within
your
own
organization
and
then
they
also
need
to
be
open
to
be
integrated
with
other
platforms
and
I
see
a
very
interesting
question
here
already
in
the
in
the
Xoom
webinar
chat
so
from
John
Callen.
Thank
you
for
that
question.
B
It
says
how
can
Q
be
integrated
with
w3c
G,
IDs
and
w3c
verifiable
credentials
as
supporting
hyper
ledger,
Indian
Ares,
so
very
good,
an
interesting
question
so
as
an
open
platform,
and
as
we
recognize
that
there
will
be
multiple
identity
platforms
and
multiple
kyc
platforms
for
other
industries
for
other
geographies.
We
believe
that
there
is
a
an
importance
Ness
for
interoperability,
and
so
this
interoperability
between
blockchain
is
definitely
something
that
we
try
to
solve
with
our
catalyst
integration
solution.
B
It's
something
that
we
believe
that,
from
a
technology
perspective,
technicalities
perspective
can
definitely
be
solved,
but
where
we
see
more,
challenges
still
is
for
the
industry
to
come
together
and
work
together
on
making
these
tenders
interoperable,
and
we
strongly
believe
the
positioning
of
a
foundation
like
Linux
and
the
hyper
ledger
project
can
help
us
with
that.
So
John.
If
you
are
involved
they're
more
than
happy
to
also
take
this
offline
and
see
where
we
can
help
and
support
you
into
this
interoperability
question
as
it's
something
that
definitely
interests
us
and
this
whole
collaboration.
B
This
little
collaboration
thing
brings
me
to
another
challenge,
so
what
we
have
seen
is
collaborating
with
with
the
financial
institutions
has
been
key
to
make
it
as
a
success,
but
has
always
also
been
a
big
challenge
from
from
a
physical
perspective.
How
do
you
get
all
the
persons
together
in
the
same
meeting
room?
B
B
A
A
C
B
So
intellect
to
you,
as
a
payment
specialist
blockchain
company,
an
integration
company,
we
have
mainly
don't
work
on
the
integration
side,
so,
as
you
know,
ripple
beyond
their
crypto.
Xrp
and
liquidity
also
has
a
messaging
payment
layer.
This
needs
to
be
integrated
in
financial
institutions
and
banks,
and
that's
something
where
intellect
you
can
help.
A
Okay,
great,
so
we
have
a
couple
of
questions
for
questions
in
the
Q&A.
If
anybody
else
has
more
questions,
please
just
click
on
the
Q&A
at
the
bottom
and
you'll
see
the
questions
you
can
vote
and
comment
on
them
as
well.
So
I'll
start
from
the
beginning.
Why
high
quality
fabric
blockchain
is
the
choice?
Is
choice
of
technology?
There
is
all
the
identity,
blockchain
framework
like
hyper,
ledger
indie,
and
it
could
be
used
for
the
identity
solutions.
B
Yes,
so
so
I
will
start
with
this
one,
so
we
we
have
started
this
project
about
two
years
ago
in
two
years
ago,
when
we
started
looking
into
multiple
blockchain
technologies.
One
of
the
most
important
requirements
for
these
financial
institutions
was
that
the
blockchain
technology
to
use
was
enterprise
grades
ready
for
production
and
had
been
tested
into
production.
We
didn't
select
you.
We
had
already
multiple
solutions
on
hyper
ledger:
February
running
in
production
environments
with
financial
institutions
in
production,
so
we
were
able
to
guarantee
these
requirements.
B
Definitely
the
security
and
non-functional
requirements
at
that
time
in
D
and
and
other
hype
related
projects
were
much
more
in
an
R&D
and
development
phase,
and
we
needed
to
move
forward
forward
to
start
collaboration,
getting
the
consortium
together
and
the
AI
and
defining
the
IT
design
and
architecture,
and
that
has
been
our
main
iver
to
choose
for
Hyper
ledger
fabric
at
that
time.
It
was
also
one
of
our
main
focuses
that
intellect
you,
and
so
we
had
a
lot
of
and
still
are,
building
out
a
lot
of
development
capacities
for
fabric
and
still
today.
B
D
Just
maybe
it's
really:
the
banks
want
they
use
it
in
production.
So
it's
not
a
proof
of
concept.
It's
not
the
Minimum
Viable
Product
I
really
want
to
use
it
on
a
day-to-day
basis
and
that
they
want
one
of
the
most
major
solutions
as
possible.
So
that's
the
big
reason
we
go
with
hyper
ledger
fabric
and
also
yeah.
We
have
the
knowledge
to
work
with
it's.
It's
easy
integratable
with
a
lot
of
things
you
already
had,
so
we
think
it's
the
the
best
for
this
use
case.
B
And
maybe
shortly
to
era,
because
we
didn't
elect
you,
we
do
work
with
other
technologies
like
Korda.
We
do
work
with
other
hyper
later
technologies.
We
do
work
with
digital
as
a
modeling
language
that
is
ledger
agnostic
and
we're
very
passionate
about
these
technologies
and
we
believe
for
for
a
lot
of
different
use
cases
there
right,
but
here,
as
we
are
only
sharing
these
proves
these
verifications
and
if
we
then
look
at
the
costs
the
non-functional
requirements,
we
believe
that
fabric
is
definitely
the
right
solution,
so
hope
this
answers.
Your
question.
A
A
B
Yes,
definitely
so
so
hyper
laser
fabric,
if
you,
if
you
deploy
it
in
easiest
way,
so
just
a
few
notes
in
the
testing
environment.
It's
pretty
easy.
But
if
you
want
to
do
automated
deployment
with
a
decentralized
governance
model,
where
everything
is
running
in
high
availability,
hot
cold
storage,
automatic
failover,
reconnection
mechanisms,
there
is
still
a
lot
of
additional
coding
that
you
will
have
to
do
or
the
writing
of
manual
scripts
to
get
this
all
right.
B
People
are
not
blockchain
experts.
So
if
you
come
in
there-
and
you
start
talking
about
peers
and
and
connection
and
decentralization
and
distributed
networks,
this
is
all
very
new
for
them,
so
also
for
their
security
and
for
their
IT
ops.
People
deploying
something
in
a
distributed
infrastructure,
different
cloud
or
in
on-prem
environments,
is
a
challenge
that
we
had
to
overcome
together
with
them,
mainly
by
putting
in
place
the
right
tools,
right,
training
and
having
the
right
communication
between
the
different
participants.
D
D
Yeah
yeah,
it's
this
still
manual
yeah,
because
it's
not
all
possible
to
do
automated.
We
just
try
to
have
as
much
as
possible
validation
rules
hard-coded,
for
instance,
if
it's
a
social
security
number,
there
are
checksums
possible,
so
varied
actions.
As
such,
we
do
in
an
automated
way.
Some
really
have
to
be
checked
by
a
person.
So
in
five
there
are
still
some
manual
steps
in
deeds
habits,
as
we
told
at
the
morning
process
the
first
time.
Still
this
lengthy
process,
the
KYTC
officer
has
to
do,
but
with
cube
it's
only
one
time.
D
One
bank
has
to
do
it
instead
of
all
banks
that
have
to
do
it
for
the
same
legal
entity
for
the
same
data.
So
here
the
manual
work
still
has
to
be
done,
but
with
our
application
we
want
to
digitize
it
at
much
as
possible,
because
today,
step
four
and
five
are
really
often
paperwork.
Where
a
legal
entity
has
to
fill
in
paper
by
hands,
then
it
has
to
be
retyped
in
by
a
kyc
officer.
That's
is
something
we
want
to
avoid
in
the
future,
but
not
all
manual
processes
can
be
eliminated
here.
A
D
Yeah,
so
at
first
one
is
needs
to
update
the
verifications
of
a
certain
data
set
on
the
ledger.
A
second
is
to
update
the
data
itself
on
the
ledger.
So
if
I
change
my
address,
it's
a
different
address
in
the
private
note,
but
then
also
the
hash
will
be
different.
Then
we
have
a
smart
contract
that
for
that
legal
entity
updates
the
hash
of
the
data.
D
So
that's
there
is
a
one-on-one
connection
between
what
is
in
the
privates
database
of
the
financial
institution
and
what
is
on
the
ledger
and
then
the
third
one
is
to
manage
the
access
rights
of
different
financial
institutions
for
one
data
set.
So
it
basically
is
if
we
have
an
entity
X
which
banks
can
share
data
about
entity
X
between
each
other,
because
yeah,
if
an
entity
is
not
a
client
of
a
certain
financial
institution,
that
financial
institution
should
not
receive
any
data
about
that
entity.
I
hope
that
answered
the
question.
B
Further,
for
example,
cube
we
have
done
some
there.
There
has
been
some
tests
outside
of
cube
where
we
have
reached
substantial
amounts
of
troopas,
but
I
think
may
be
important
to
you
see
here
is
we're
not
building
a
new
clearing
and
settlement
system,
you're
right
or
not,
building
a
trading
system
for
cash
equities,
we're
building
a
data,
validation
and
verification
system.
A
Thank
you,
that's
very
comprehensive,
so
I
will
let
you
choose
because
I
don't
think
we'll
manage
to
question
to
both
of
those
questions,
so
I'll
ask
to
follow
up
separately.
One
question
is:
how
do
your
platform
can
help
mortgage
mortgage
industry
and
the
second
question
is
how
is
handle
the
compare
compensation
face
like
where
the
token
or
how
do
you
compensate
so
please
choose
which
one
if
we'd
prefer-
and
this
will
be
the
last
question-
well.
B
Very
sure
the
answer,
the
mortgage
question
and
then
you
can
take
the
side
the
words
yes,
it
can
definitely
help
everywhere
in
the
the
onboarding
process
of
financial
products
as
a
reference
data,
a
gateway,
if
you
want
more
information,
definitely
reach
out
to
us
and
then
Thomas.
How
is
the
conversation
a
lot
so.
D
D
B
A
Well,
thank
you
very
much.
I
know
that
you
are
very
open
to
any
kind
of
communication
and
you
have
provided
the
contact
detail.
So
thank
you.
Everybody
who
participated.
Thank
you
both
for
mrs.
for
really
incredibly
interesting
presentation.
I
would
like
to
highlight
two
more
webinars,
three
more
webinars
that
are
coming
up
because,
as
we
have
said,
these
will
happen
once
every
two
weeks
and
the
first
one
is
on
April
29th.
It
will
be
a
special
ask
me
anything.
A
It
is
open
only
to
our
members
though,
and
it
will
be
a
panel
discussion
between
brian
behlendorf
and
joel
urban
for
everybody
else.
We
have
two
very
exciting
webinars
upcoming
the
blockchain
technology
partners
will
be
talking
about
delivering
the
Tel
Aviv
Stock,
Exchange
securities
lending
platform
using
hyper
ledger,
Psaltis
and
another
large
assaultive
webinar,
which
will
be
m2
and
pork
niche
traceability
that
is
contrasted
with
Unilever.
A
If
you
are
dying
for
content,
please
visit
our
websites
and
our
youtube
channel,
because
we
have
loads
of
really
interesting
videos
and
highlights
from
the
hyper
larger
global
forum,
we've
recorded
almost
all
of
the
sessions
and
workshops.
So
you
can
really
find
loads
of
loads
of
content.
If
you
have
any
questions,
please
reach
out
to
me
and
hyper
led
your
team
on
membership
at
Piper
later
or
thank
you
and
say:
safe,
okay,.