►
Description
A guest presentation on the Digital Standard Initiative by Oswald Kuyler from ICC Singapore at the Hyperledger Trade Finance Special Interest Group presentation on October 13, 2020.
More about the event is at: https://wiki.hyperledger.org/display/TFSIG/Hyperledger+Trade+Finance+Meeting+2020-10-13
----
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#Hyperledger #HyperledgerTradeFinanceSIG #Blockchain
A
D
B
A
Also,
okay,
thank
you
so
much
if
everyone
can
go
into
mute
just
just
through
the
session.
I
think
that's
gonna
help,
so
we
have
a
little
bit
less
background
noise.
There
we
go.
Thank
you
so
much
everyone
thanks.
Firstly,
for
inviting
me,
it
really
feels
like
it
almost
feels
like
julie
and
I'm
returning
to
a
place
where
we
started
a
conversation
about
three
or
four
years
ago.
For
those
who
don't
know.
A
I
already
know
julian
from
my
past
and
looking
into
blockchain
technologies,
and
I'm
really,
I
feel
privileged
for
for
being
invited
to
the
session.
Today.
I
have
a
small
agenda
that
I'm
going
to
run
through
on
nothing
too
complicated.
The
first
thing
is,
I
just
want
to
introduce
myself,
then
the
international
chamber
of
commerce
who
I
work
for
and
then
ultimately
the
the
dsi
itself,
which
is
an
initiative
that
I'll
be
leading
after
that
for
those
on
the
call
who
already
know
what
trade
processes
look
like.
A
I
do
apologize,
I'm
going
to
just
give
a
little
bit
of
an
overview
of
what
a
generic
trade
process
looks
like
and
some
of
the
complexities
there.
But
I
won't
spend
a
lot
of
time
on
that
and
it's
just
to
help
people,
especially
those
who
have,
let's
say
a
technological
background,
but
not
necessarily
a
trade
background
to
to
get
a
foundational
understanding
of
what
we're
talking
about
and
then,
after
that,
I'm
going
to
focus
in
on
what
the
dsi
itself
is
actually
going
to
do
so,
practically
speaking.
A
A
I
started
my
professional
career
about
15
years
ago
as
a
technologist,
a
java,
2
developer.
I
absolutely
love
technology
and
all
of
the
various
things
that
can
enable,
and
I
look
at
my
career
and
I
feel
like
I've
had
two
chapters
to
it.
The
first
chapter
was
specifically
focused
on
enabling
solutions
for
organizations
where
we
digitized
a
lot
of
the
processes
within
a
company
and
there's
things
like
records,
management
or
business
process
management,
a
lot
of
fun.
A
The
second
part
of
my
journey
I
moved
out
of
technology
and
into
a
commercial
division
of
bhp
and
over
there
I
focused
on
quite
a
lot
of
cool
stuff,
too,
whether
it
was
r
d
looking
at
blockchain
analytics
and
a
few
other
elements,
and
when
the
dfi
role
opened
up
on
the
internet.
I
looked
at
that
and
went
this
is
perfect.
He
has
a
challenge
that
we've
all
been
trying
to
solve
for
in
different
ways,
and
hopefully
it's
something
that
I
can
help
contribute
towards
and
so
who's
the
icc.
A
Why
why
the
icc?
What
really
interested
me
in
it?
It's,
not
an
organization
that
I
think
a
lot
of
technologists
are
familiar
with.
So
I'm
going
to
spend
a
minute
or
two
just
on
that.
The
icc
is
the
institutional
representative
of
45
million
companies
globally.
Now
why?
Why
do
I
mention
that?
I
think
it's
important
when
you
look
at
us
not
to
think
of
us
as
coming
from
any
specific
company
or
even
industry.
Our
focus
is
helping.
Companies
across
all
the
various
industries
are
be
successful.
A
The
third
item
is
the
dsi.
So
that's
the
icc
of
that's
the
scaling
capability.
Well,
what's
the
dsi
in
a
nutshell,
if
you've
seen
the
press,
basically,
what
we're
going
to
try
and
do
is
we're
going
to
try
and
harmonize
all
the
various
platforms
out
there
today
and
I'm
going
to
talk
a
little
bit
about
that
later
in
the
session.
A
The
challenge,
though,
is
when
we
actually
get
to
some
of
these
complex
environments,
business
networks,
where
you
know
firstly,
you're
executing
across
different
regions-
and
maybe
you
have
thousands
of
customers
and
some
of
them
have
their
own
platforms.
It
becomes
challenging
to
operate
in
that
landscape
and
we'll
touch
a
bit
on
that,
but
fundamentally
the
dfi.
It's
not
that
we're
going
to
build
a
new
platform.
A
We
want
to
produce
standards
and
we
want
to
produce
the
standards
that
people
can
pick
up
almost
like
a
sort
of
business
requirements
and
contribute
into
that
landscape
and
remove
some
of
the
boundaries
and
the
barriers
that
that
exist
today
and
we'll
touch
a
bit
more
on
that.
But
that,
in
a
nutshell,
is
both
me
technologist
by
heart,
the
icc
global
scale,
global
reach
across
various
industries
and
the
bsi.
A
Please
bear
with
me
this
is
going
to
be
very
high
level,
and
it
really
is
just
for
people
who
don't
have
an
appreciation
of
some
of
the
complexity,
so
that
when
we
actually
talk
a
bit
about
those
enablers
that
the
dsi
is
going
to
solve,
for
we
have
some
form
of
understanding
of
of
the
environment
that
we're
operating
in,
and
so
these
aren't
the
most
beautiful
slides.
But
imagine
it's
a
whiteboard
and
I
drew
some
of
these
on
the
whiteboard.
A
Firstly,
you'll
see,
there's
two
banks,
so
you
might
have
a
nomination
bank
issuing
bank
etc.
As
a
part
of
that
process,
there's
different
carriers,
different
ports-
you
might
have
different
vessel
operators,
so
when
you
think
about
the
activity
of
buying
and
selling
it's
not
just
between
two
entities,
there's
actually
quite
a
few
players
involved
in
that
process
that,
if
you
want
them
to
participate
in
it,
I
potentially
need
to
have
access
to
some
of
the
information
that
it
gets,
executed
and
shared
throughout
that
process.
A
I
think
the
second
thing
that's
worth
highlighting
is
that
and
it's
something
that
a
few
of
my
previous
colleagues
were
quite
surprised
at
is
the
absolute
quantity
of
documentation,
that's
actually
required
and
the
process.
So
it's
not
just
an
activity
that
happens
without
documentation,
there's
some
actual
requirements
behind
it
and
a
little
stack
that
goes
with
it
and
there's
quite
an
interesting
history,
for
example
behind
bill
of
lighting
and
where
it
originated
from
and
where
it
is
today
and-
and
one
can
argue
that
a
revolution
is
required
in
that
space.
A
The
second
one
is
that
a
lot
of
countries,
and
especially
when
you
actually
get
to
the
port
and
you
want
to
enter
the
country,
there's
actually
requirements
to
have
physical
documentation
or
physical
signatures
as
a
part
of
that
process,
now
rule
books
and
bilateral
agreements
and
the
platforms
can
solve
for
that.
But
there's
still
a
few
countries
like,
for
example,
china,
where
in
theory,
still
need
a
physical
bill
of
lading
to
actually
execute
a
trade
there,
and
I
think
the
third
one
is
again.
A
So
the
first
one
is,
it
would
be
perfect
if
everyone
in
this
train
was
on
the
same
platform
and
just
using
it
to
execute
a
deal.
What
we
find,
though,
is
an
environment.
That's
sometimes
a
little
bit
more
complex,
where
potentially
a
port
might
actually
have
its
own
platform
that
it
would
like
you
to
leverage.
The
second
one
is
where
some
of
the
the
the
carriers
like
mersk
and
then
might
have
a
platform.
A
As
you
know,
that
also
adds
quite
a
lot
of
great
benefits
to
the
process
and
some
of
the
carriers
themselves
might
have
it
too,
and
some
of
the
banks
might
have
theirs.
And
so
I
think
the
moral
of
the
story
is
that
it's
not
so
much
a
landscape
of
a
single
entity
with
a
single
platform
but
more
a
ecosystem
of
different
platforms.
A
A
Now
that
there's
a
big
point
of
all
those
previous
slides
was
just
to
again
touch
on
the
fact
that
it's
a
little
bit
more
complex,
it's
not
just
about
a
buyer
and
seller
being
on
the
same
platform,
there's
a
lot
of
different
pot.
You
know
parties
involved
a
lot
of
documentation
and
there's
also
a
legislative
element
to
it.
So
what
I'm
going
to
do
now
is
I'm
going
to
spend
a
little
bit
of
time
on
just
what
we
believe.
A
Some
of
the
key
elements
are
that
we
want
to
address
as
a
part
of
the
icc,
dsi
and
yeah.
Let's
see
how
that
goes.
So
so,
where
does
this
list
of
six
come
from
when
I
got
the
role
about
four
weeks
ago,
five
weeks
ago,
the
icc
was
already
executing
workshops
with.
You
know
different
groups
of
people
are
to
kind
of
get
an
understanding
of
what
are
some
of
the
challenges
when
it
comes
to
digitization
and
trade,
and
so
a
lot
of
great
work
came
out
of
that.
A
That
highlighted
the
need
for
a
few
elements
as
an
example,
interoperable
rule
books
could
be
one
of
them.
In
addition
to
that,
I've,
probably
I
don't
want
to
use
a
number,
because
the
number
will
always
be
wrong,
but
let's
say
I've
engaged
about
50
different
organizations
in
various
different
industry
sectors
to
get
a
sense
from
them.
How
are
their
projects
going?
What's
working?
What's
not
working
and,
more
importantly,
what
do
they
believe?
A
The
icc
can
bring
to
this
challenge
of
scale
getting
scale
when
it
comes
to
digitization
or
trade,
and
we've
landed
on
six
items
quite
big,
but
six
nonetheless,
and
what
I'll
do
is
I'll
briefly
touch
on
each
of
them
and
give
you
a
little
bit
of
a
flavor
of
what
they
are
and
and
some
of
them
even
an
update
on
what
our
thinking
is
at
the
moment
now
reach
out
to
me,
I'm
on
linkedin.
You
know,
feedback
really
is
a
gift.
A
The
last
thing
we
want
to
do
is
set
off
on
a
journey,
and
a
year
later
have
someone
go?
Oh,
we
kind
of
knew
that
this
is
you
know
this
other
element
is
needed,
so
please
do
reach
out.
It's
gonna
be
very
valuable
anyway.
So
if
we
look
at
the
six,
the
very
first
one
is,
we
need
to
unify
some
of
the
digital
standard
efforts
across
the
the
globe.
A
We
see
that
isos
are
a
part
of
you
know
the
process
of
creating
standards
in
blockchain,
but
every
single
industry
also
has
a
consortia
trying
to
solve
for
different
blockchain
activities.
Some
of
the
larger
multilateral
organizations
are
also
investing
and
setting
up
standards,
and
then
you
also
have
some
development
banks
globally
seeding
activity
when
it
comes
to
creating
standards
and
governance.
So
the
very
first
thing
we're
going
to
do
is:
simplify
that
landscape.
A
So,
let's
find
a
more
constructive
way
of
actually
approaching
that
the
second
one-
and
this
is
a
big
one,
in
my
mind
at
least-
is
the
legislative
reforms
needed.
There's
a
model
law
called
mletr
the
model
law
for
electronic
transferable
records
that
unc
troll
has
created,
and
it's
a
beautiful
model
law.
It
actually
enables
when
countries
adopted
for
us
to
solve
a
lot
of
the
challenges
we
have
today
when
it
actually
comes
to
the
acceptance
of
digital
records
internationally.
A
A
We
have
in
the
rule,
books
and
the
various
platforms,
and
so
this
is
an
area
where
we
believe,
as
the
icc,
we
can
uniquely
go
and
really
push
and
work
with
companies
and
work
with
governments
around
the
world
to
see
how
do
we
actually
accelerate
that
adoption
fully
appreciate
that
you
know
it
might
take
three
four
or
five
years
to
get
some
of
the
larger
trade
nations
or
the
largest
strategic
trade
routes
in
the
world
on
board.
But
that's
fine
as
long
as
we
know
who's
that
that
we're
targeting.
A
How
are
we
going
to
enable
them
and
how
are
we
progressing
and
so
you'll
see
a
lot
of
our
energy
and
attention
is
going
to
go
into
that
and
you
you'll
be
the
beneficiary
of
a
lot
of
that
work.
The
third
one
before
I
get
to
the
actual
standards
themselves
is
on
the
rulebook
side.
There's
a
lot
of
non-blockchain
and
blockchain
platforms
out
there
today.
A
That
facilitates
for
similar
processes
with
similar
documents,
documentation
behind
it
and
they
make
up
for
the
lack
of
legal
harmonization
globally
by
having
everyone
agree
to
a
single
rule
book,
and
that
provides
a
really
good
legal
foundation
for
people
to
execute
it.
And
so
the
question
that
we
have
as
the
icc
and
it's
going
to
be
one
of
the
first
sprints
that
we
do
is
when
we
bring
everyone
together
in
a
room.
A
Is
there
an
ability
for
us
to
actually
create
a
rule
book
that
is
interoperable,
that
different
platforms
can
leverage
and
can
actually,
when
you
technically
integrate
the
platform,
you
can
start
a
trade
process
on
one
platform
and
end
settlement
and
another
platform
and
so
might
be
difficult.
But
it's
definitely
something
we
need
to
focus
on
and
see.
How
do
we
get
that
done
now?
A
How
do
we
define
identity
in
our
context
and
there's
a
lot
of
value
if
we
can
actually
take
identity
and
solve
for
that
at
a
global
scale,
as
opposed
to
having
it
done
in
various
different,
unique
ways
on
within
the
different
platforms?
Now,
good
news
is,
there's
already
a
lot
of
great
work
being
done,
and
so
there's.
For
example,
gleef
is
there:
swift
has
bec
and
there's
quite
a
few
other
options
on
the
table
and
the
big
set
of
work
is
really.
How
do
we
get
all
of
that
together?
A
How
do
we
workshop
and
really
figure
out
what
will
work
when
it
comes
to
legal
identity
itself,
so
not
vehicle,
because
that's
already
been
solved,
but
legal
itself,
and
and
then,
how
do
we?
How
do
we
translate
that
into
a
standard
that
can
be
applied
and
scaled?
The
benefit
would
be
enormous.
That's
one
example.
If
I
think
about
number
five,
so
four
is
cross
industry
data
points.
A
A
Is
there
an
opportunity
for
us
to
actually
create
standards
when
it
comes
on
a
platform
level?
So,
for
example,
api
gateways
or
you
know,
how
do
we
do
asset
exchanges
or
communication,
and
we
already
have
iso
tc307,
for
example,
focusing
on
some
of
the
blockchain
specific
standards
and
the
question
is:
are
there
any
other
opportunities?
Is
there
anything
else
that
needs
to
be
solved
for
so
that
someone
who
steps
out
of
college
if
they
wanted
to
create
a
platform,
and
they
wanted
to
create
an
application
that
can
contribute
to
the
trade
landscape?
A
They
can
pick
up
a
bunch
of
standards,
produce
a
platform
and
it
can
both
connect
to
the
existing
landscapes.
They
can
pick
up
standards
on
identity
and
goes.
This
is
how
I
deal
with
identity,
pick
up
standards
for
all
the
other
type
of
content,
that's
required
through
the
trade
process
and
and
continue
their
contribution,
and
so
these
are
in
summary,
when
you
think
about
the
icc
dsi.
These
are
the
six
key
areas
that
we
believe
we
can
uniquely
focus
on
and
we
can
help
our
work
now.
A
In
closing,
I
have
a
p
a
few
key
principles
that
I
want
to
share
the
first
one
is
we
don't
want
to
reinvent
the
wheel
if
we
have
to
go
and
reinvent
the
wheel
for
a
lot
of
the
activity
and
the
definition
that
has
already
been
done
by
consortias
or
even
by
platform
owners
themselves?
It's
going
to
take
me
another
two
to
three
years,
just
to
get
to
where
a
lot
of
you
are
already
at,
and
so
the
whole
objective
is
not
to
start
from
zero.
A
A
So
it's
not
that
I'm
interested
in
building
a
platform
that
now
is
going
to
you
know
if
I
get
all
the
buyers
and
sellers
onto
it,
boom
interoperability
is
solved
for
no,
my
core
product
is
going
to
be
working
with
people
finding.
Where
do
we
actually
create
standards
that
people
can
pick
up,
produce
solutions
that
ultimately
scale
anyway?
A
So
I
do
apologize
for
that
fixed
monologue,
but
that,
in
a
nutshell,
is
the
talk
for
today
high
level
overview
on
trade
and
that
it's
more
complex
than
just
two
parties
are
engaging
each
other
lots
of
documentation
required.
There's
a
legal
angle,
and
these
are
the
six
key
areas
that
we
will
be
focusing
on.
A
B
F
A
You
know
it's
actually
quite
interesting
julian
and
I
had
a
similar
conversation
a
few
years
ago,
and
so
it
was
a
little
bit
easy
getting
to
this
point.
So
I
have
to.
I
have
to
admit
that,
and
it
looks
easy.
I
think
it's
going
to
be
a
lot
of
hard
work
and
it's
going
to
also
take
a
level
of
maturity,
and
so
I'll
give
you
an
example.
I
spoke
to
you
know
you
speak
to
a
few
commodity
players
and
you
go
look.
A
You
know
you
need
evil,
but
it's
not
necessarily
something
you
have
to
solve
for
yourself.
It's
something
that
potentially
another
industry
can
do
and
as
long
as
we
can
leverage
that
we'll
finally
get
to
scale-
and
I
so
I
see
a
big
part
of
my
role-
is
also
just
orchestrating
making
sure
that
right
people
are
having
the
right
type
of
conversations
and
that
we're
optimizing
what
we're
solving
for
so
yeah.
So
so
it's
been
four
weeks
julian.
I
think
almost
five
weeks
now.
D
Yeah
exactly
I
would
just
to
make
my
comments.
I
really
love
the
this
initiative
for
basically
one
reason:
it's,
I
think
it's
giving
a
very
comprehensive
approach
from
360
degrees,
on
on
all
the
different
areas
that
are
embracing
in
terms
of
the
digitalization
of
international
trades,
not
just
from
technology
point
of
view,
but
also
from
legal
point
of
view.
That
actually
is
my
background
from
trade
from
standards
from
technology.
So
I
think
it's.
D
A
Piece
is
right,
and
so,
when
you
think
about
a
lot
of
the
work-
and
I
think
again
about
the
work
that
atul
and
them
did
on
dlc
ledgers
and
the
announcement
we
saw
this
week,
you
know
everyone
has
their
unique
capabilities
and
they
can
do
really
great
work,
and
so
I
feel
like
and-
and
someone
asked
me
yesterday-
whether
or
not
you
know
why
digital
standards
are
now
such
a
topic
called
conversation,
and
my
my
view
was.
Actually
I
don't
think.
Digital
standards
is
a
topical
conversation.
I
think
digital
is
with
the
pandemic.
A
It
has
highlighted
the
power
that
a
lot
of
these
platforms
that
people
like
yourselves,
have
built,
and
without
these
platforms
we
would
have
been
in
a
lot
of
pain
today.
Secondly,
because
of
a
lot
of
the
great
innovation
and
work,
that's
already
been
done
when
we
saw
all
of
these
fraud
cases
pop
up.
A
If
I'm
a
developer,
where
can
I
actually
go
in
this
landscape
of
standards
to
pick
up
the
stuff
that
I
can
almost
use
like
business
requirements,
to
build
a
platform
that
contributes
value
and
and
how
do
we
make
that
easier,
so
we
can
get
even
more
innovation
going
and
so
that
we
don't
have
people
locked
out
just
because
they
let
me
not
even
go
into
that,
but
there's
a
few
barriers
today.
The
second
thing
is:
I'm
thinking
about
the
executive
who's
sitting
there
going
and
whether
it's
for
a
small
company
or
a
large
one.
A
I
want
to
join
one
of
these
platforms,
but
I
don't
necessarily
have
the
manpower
to
go
convince
all
of
my
my
customers
or
all
of
my
banks
or
whoever
to
get
onto
this
platform,
and
so
when
we
have
interoperability
when
we
have
standards
that
enable
it
it
makes
that
decision
so
much
easier.
They
can
look
at
the
solutions
and
go.
A
I
really
like
this
one,
because
it's
innovative
because
it
solves
for
all
the
things
I
want,
and
I
now
know
that
if
my
customers
on
a
different
platform,
I
can
still
get
that
value
and
I
don't
have
to
worry
and
I
can
get
end-to-end
processing.
So
sorry,
I
can
go
off
on
a
tangent.
You
guys
need
to
stop
me,
but
this
is
what
excites
me
and
I
see
two
steps.
A
D
A
Too
many,
for
example,
the
chronicles
of
lighting
floating
around-
I
mean
balls
of
lighting
floating
around,
so
there
is
an
evolutionary
step,
that's
required,
but,
as
you
all
know-
and
I
don't
have
to
convince
you
blockchain
will
enable
the
revolution.
It
will
enable
us
to
rethink
how
we
do
a
lot
of
these
activities.
It
will
change
some
of
the
services
that
we
can
have.
It
will
uniquely
contribute
to
the
trade
gap.
It
was
1.5
trillion
dollars
just
the
other
day.
I
think
it's
now
sitting
at
three
trillion
dollars.
A
C
C
Definitely
this
is
what
the
industry
needs
for
if
it
doesn't
want
to
die,
of
course,
because
certain
aspects
are
quite
critical
and
this
moment
there
are
physical
crisis.
I
tell
you
from
practitioners.
Situation
can
no
longer
go
on
this
way,
so
we
do
need
the
evolution,
of
course,
but
the
revolution
is
even
more
essential.
In
my
opinion,
we
do
need
to
revolutionize
procedures,
the
products
and
everything
that
follows.
You
know
it's
it's
a
long
term
history.
You
know
dating
back
to
renaissance
now,
let's,
let's
go
further
with
respect
to
these.
F
F
I
I
think
the
picture
you
withdraw
with
all
the
existing
platforms
the
world
today
there's
a
lot
of
platforms
in
place,
so
I
think
portable
digital
identity
and
portability
of
documents,
I
think,
are-
are
going
to
be
key
to
actually
to
enable
all
those
platforms
to
actually
offer
their
functionality,
no
one
it
may
take
a
while,
as
you
said
yourself,
there
may
be
some
dominant
platforms
after
a
while,
but
to
start
off,
we
need
to
to
enable
this
portability
of
trade
documents.
Now,
there's
one
key
question
I
have
for.
F
F
A
A
I
have
a
pro
overview
of
everything
from
the
actual
initial
commercial
contract,
where
everything
originates
from
all
the
way
to
warehouse
receipts
as
an
example
and
even
invoicing,
and
so
a
lot
of
these
are
going
to
be
instrumental
and
we
will
have
to
look
at
how
do
we
actually
solve
for
some
of
these?
What
we're
going
to
do
in
our
first
sprint,
though,
and
so
I'll
share-
that
once
we've
got
into
a
little
bit
more
maturity,
I'll
share
that
overview,
and
what's
also
good
about
that
overview.
A
It
also
shows
people
what
are
some
of
the
existing
standards
today
that
are
actually
applicable
to
some
of
these
documentation,
which
I
also
think
is
quite
useful
for
people
to
know
our
first
sprint
at
the
moment.
The
thinking
is
that
we
want
to
do
almost
like
quarterly
spreads
and
see
how
what
can
we
achieve
in
a
quarter,
and
the
view
is
that
we
might
start
with
identity
first
as
a
foundation
and
and
get
all
of
the
right
people
into
a
room
and
focus
on
that.
It's
also
one
of
the
most
challenging
ones.
A
A
I
see
so
many
people
focused
on
electronic
bill
of
lighting
and
I
would
love
to
see
what
have
we
done
as
both
a
blockchain
industry
over
the
last
three
four
years
and
also
the
traditional
platforms
that
already
have
the
members
and
and
the
volume
and
get
a
sense
of
those
two
and
once
we've
seen
how
good
we
are
at
that,
potentially
then
expanding
on
to
some
of
the
other
use
cases.
But
that's
going
to
potentially
be
our
starting
point.
F
C
Is
the
most
critical
one
in
the
process
due
to
the
complexity
of
the
document
itself?
Variety.
So,
first
of
all
I
would
start
from
there.
I
mean
it's
electronic
bill
of
lading
under
an
eu
perspective,
for
example,
or
singapore.
Maybe
I
don't
know
regulation
over
there.
It
is
partly
already
solved
a
real
call
is
in
the
bill
of
lading
and
in
some
other
documents,
when
you
have
to
issue
for
the
document
between
secretary
certificate
of
variation,
that's
real
core,
the
complexity.
F
C
I'm
not
saying
this,
I
mean
you
have
to
focus
on
what
stopped
from
and
seen
at
the
global
procedures
in
in
trade.
That's
right
attitude,
but
step
by
step
the
real
button.
The
real
problem
is
in
sorting
out
the
real
ebuild
lady,
that's
the
core.
Then
you
have
to
look
at
the
whole
process
as
a
streamlined
process.
C
A
A
Can
you
imagine
the
amount
of
efficiency
that
you
get
into
the
system,
the
amount
of
times
that
that
that
trade
can't
actually
transition-
and
this
is
also
where
the
rule
books
are
important
because
you
you
need
to
solve
from
it
from
a
data
perspective
right,
but
you
also
need
to
solve
for
it
from
a
legal
rate.
You
know
either
the
country
needs
to
to
to
to
adopt
you
into
trolls
model
law,
or
we
need
to
get
rule
books
that
can
actually
become
interoperable
and
actually
enable
the
practicality
of
movement
of
those
those
data
types.
C
Definitely
you
touched
as
a
last
the
widespread
adoption
of
modern
laws.
They
are
done
explicitly
to
have
a
widespread
adoption,
maybe
of
technology
and
to
homogenize,
let's
say,
show
the
different
national
legislation,
so
the
very
first
challenge
is
also
modern
lows:
how
to
widespread
adoption.
That's
real
core.
My
opinion.
A
To
me,
that's
foundational,
and
for
those
who
are
on
the
call
who
don't
necessarily
fully
appreciate
the
model
or
conversation
what
it
basically
is
is
today.
If
you
go
to
various
different
countries,
they
still
require
you
to
have
a
physical
bill
of
lighting
or
a
wet
signature
when
it
actually
comes
to
the
transferal
of
title
and
so
the
challenge
that
model
laws
ultimately
solve
for
and
as
literally
as
a
copy
and
paste,
it's
a
model
law
that
countries
can
take
and
adopt
that
actually
solves
for
the
whole
legal
validity.
A
A
They
can
literally
take
the
model
law
and
and
start
you
know
the
the
process
of
applying
it,
which
is
normally
about
a
two
to
three
year
process
and
to
andrea's
point,
and
that's
one
of
the
reasons
we
have
it
as
number
two
is
our
viewers
if
we
can
spearhead
the
adoption
of
model
law
for
electronic
transferable
records,
it's
going
to
solve
for
a
lot
of
different
use
cases
that
even
today's
rule
books
don't
solve
for
and
so
there's
a
lot
of
energy
and
activity
that
that
needs
to
go
into
that.
It's
massively
important.
C
Definitely
definitely
agree
with
you
as
well.
I
have
experienced
this.
You
know
not
to
stress
this
fact,
but
you
know
when
you
go
to
africa,
when
you
go
to
middle
east,
when
you
go
to
certain
parts
of
the
world,
they
didn't
even
know
what
an
electronic
record
is.
They
only
do
this
with
papers,
regional
and
copies,
that's
a
real
problem.
They
don't
care,
so
you
have
a
source
of
upper
infrastructure
obliging
forcing
local
activities
to
be
carried
out
in
compliance
with
the
model
laws.
C
C
A
B
Yeah,
no,
I
think
I
think
oswald.
First
of
all
welcome
to
the
role
and
for
me
I
went
gray,
not
bald,
so
good
luck
with
that
one
so
have
fun
with
the
with
the
hair,
but,
but
certainly
for
me,
it's
refreshing
because
we're
getting
dsi
to
get
those
guiding
rails
in
place
which
is
converging,
converging,
themes,
technologies,
processes.
So
we
do
make
trade
more
frictionless
and
it
plays
well
to
some
of
the
studies
that
we've
done,
which
we
can
share.
B
D
B
It's
not
easy
and
joel's
just
highlighted
a
couple
of
elements
where
the
devil's
in
the
detail,
but
exactly
this
is
where
feedback
collaboration
is
going
to
be
a
key
theme
to
deliver
the
vision
of
dsi
so
looking
forward
to
joining
on
the
journey.
I
know
that
most
of
the
guys
on
the
call
I've
been
looking
at
this
and
then
having
this,
you
be
the
north
star
and
we
can
start
looking
in
a
common
direction.
I
think
it's
going
to
be
a
good
way
forward,
so
yeah
looking
forward
to
it.
A
A
It's
really
about
using
the
capabilities
in
our
businesses,
we're
the
world
business
organization,
and
so,
as
you
look
at
that
scope
and
and
the
work
we're
trying
to
do,
if
you
feel
like
you
have
capabilities
that
can
actually
help
you
know,
let
us
know
it's
going
to.
If,
if
we're
not
inclusive,
this
won't
work.
We,
you
know,
you
need
the
capabilities
from
the
different
industries
from
the
different
technology
platform
owners
specifically
to
solve.
For
this.
You
know
I'm
going
to
pause
there
before
I
go
off
on
another
tangent,
but
thank
you
paul.
B
B
So
I
think
the
other
thing
that
we
can
talk
about
is
is
is
what
can
we
do
as
a
sig?
How
can
we
help
you
in
this
journey,
which
I
think
is
an
awesome,
awesome
presentation?
It's
it's.
How
can
we
do
it?
I
mean
I
talk
about
identity,
so
there's
a
lot
of
a
lot
of
stuff
around
the
self-sovereign
identity
and
other
things
you
know
we
talk
about.
Joel
who's
got
some
interesting
stuff.
B
A
A
You
know.
Let
me
know
again
my
if
I
start
at
zero
for
all
of
those
streams.
It's
going
to
take
me
another
three
years
to
get
to
where
some
of
you
are
already
at.
So
I
think
that
is
what
my
ask
would
be
is
think
about
those
six
items.
Think
about
where
you
can
play
and
let's
let's
highlight
that-
I'm
not
sure
if
that's
specific
enough
julian,
but
that
really
is,
I
think,
the
best
way
that
we
can
get
help
at
the
icc
on
this.
B
B
And
with
that
in
mind,
I
think
julian
and
andrea,
eugenio
and
atl
from
a
sig
point
of
view
for
hyperledger.
That's
an
angle
where
there's
a
whole
portfolio
of
open
source
capabilities
that
will
be
the
building
blocks
potentially
for
what
could
be.
You
know
this
method
of
having
this,
this
unified
platform
with
a
rulebook,
but
I
think
the
technology
from
a
developer
point
of
view
of
open
source
capabilities.
I
think,
is
one
angle
to
have
a
look
at.
C
C
E
E
So
certainly
outside
of
this
I'll
have
a
conversation
with
oswald,
but
sake
will
probably
chip
in
in
a
minute
we'll
be
only
too
pleased
to
actually
talk
about
what
we
bring
with
sake,
delivering
the
the
ip
and
approach
and
ibm
delivering
the
technology
behind
it.
We'd
be
quite
keen
to
talk
about
how
dispute
resolution
plays
in
this
space
absolutely
kevin.
Thank
you
for
introducing
the
proof
of
trust
to
the
group
and
I'm
very
pleased
to
meet
everybody
here.
E
And
that's
certainly,
where
proof
of
trust
sees
itself.
It
sees
itself
being
an
enabler
connecting
networks
through
one
mission,
which
is
to
provide
faster,
better
fairer
adjudication,
and
we
enable
that
through
blockchain,
so
we'll
be
really
happy
to
contribute
and
have
further
discussions
about
it.
I
don't
want
to
take
up
everyone's
time
today.
I
know
that
we're
we're
reaching
a
close,
but
certainly
proof
of
trust,
would
like
to
contribute
a
little
bit
to
this
and
and
share
some
of
our
our
thinking
and
some
of
our
experiences.