►
From YouTube: Business in the blockchain era Zaki Workshop
A
All
right
cool
I,
thank
everyone
for
coming.
This
yeah
talk
is
about
business
in
the
blockchain
era,
and
my
goal
here
was
to
communicate
some
of
the
advantages
of
blockchain.
What
problems
blockchain
can
solve
without
needing
to
talk
initially
about
blockchain.
So,
starting
with
the
problem,
will
go
here,
starting
with
the
problem
which
I'll
consider
as
an
opportunity
and
then
what
would
be
needed
to
deliver
a
solution
then
going
into
what?
A
If
solutions
exist
today
followed
by
the
benefits
and
for
both
businesses,
customers
and
other
business
models
around
that,
and
we
can
go,
do
a
bit
of
exploratory
discussion
on
that,
which
will
be
quite
interesting,
I
think
so,
let's
start
with
the
problem
or
one
side
of
the
mall
problem,
which
is
what
I
did
to
local
village
or
community
high
streets.
Is
anyone
here
familiar
with
that
problem?
What
okay?
A
So
with
all
the
the
buyer,
the
potential
buyers
inside
the
mall,
the
malls
that
we're
inside
would
be
making
more
money.
So
then
the
mall
could
actually
start
charging
more
rent,
so
they
could
keep.
They
were
able
to
do
this
because
they
were
offering
a
service
because
of
the
fact
that
everyone
was
in
the
mall.
So,
rather
than
being,
you
know
paying
for
cost
plus
profit.
It
was
like
well.
The
people
in
here
are
worth
a
lot
more
to
you.
A
This
was
disrupted
with
online
shopping
a
little
bit,
so
the
small,
independent
retailers
could
put
up
a
website
and
be
found
again.
So
people
from
home
could
google
and
shop
for
something
I
want
to
find
camping
gear
and
rather
than
have
to
go
through
the
mall
and
walk
around
the
mall,
they
had
the
convenience
of
going
online
doing
a
search
finding
that
little
camping
store
out
the
back
of
it
on
the
high
street
still
and
could
have
their
problem
solved.
A
But
what
started
to
happen
then,
was
sort
of
convenient
ways
of
purchasing
products,
so
things
like
Amazon
or
those
kind
of
platforms.
You
would
sign
up
to
that
platform.
You
would
perform
the
search
you
own.
Your
foot
traffic
is
then
inside
that
dead
engine.
So
the
same
thing
happened,
but
in
the
digital
form,
where
these
platforms
yeah
so
I
just
draw
that
analogy
just
so,
we
can
say:
we've
seen
this
before
so.
The
common
thread
is
the
gatekeepers
of
convenient
transactions,
eventually
over
extract
value
from
the
free
market.
A
So
there's
one
thing
to
be:
you
know
asking
a
cost
for
the
service
you're
providing,
but
then
it's
another
thing
to
say
well,
because
everyone's
inside
my
system,
I'm
gonna,
start
charging
more
and
charging
both
sides
at
some
point
more
like.
If
it
were
advantageous
for
more,
they
could
actually
charge
people
to
walk
in
two
or
more,
which
would
be
interesting,
but
obviously
that
would
be
to
two
different.
But
platforms
do
like.
You
might
have
platforms
that
you
clip
the
ticket
on
both
sides
of
hosts
and
guests
for
Airbnb
for
them.
A
So
that's
a
plus,
but
with
a
lot
of
restaurants
on
that
platform
and
people,
then
no
longer
thinking
to
contact
the
shops.
They
just
go
to
overeats
to
find
the
food
there's
almost
a
fear
of
missing
out
for
the
restaurant
to
not
be
on
routes.
They
really
want
to
be
on
a
breach
now,
but
over
time
this
did
the
data
came
out
so
in
the
lower
half
651
restaurants
responded
with
report.
A
Like
fifty
three
point,
nine
percent
reported
that
there
was
an
increase
in
revenue,
but
a
decrease
in
profit
so
is
actually
the
profit
margins
already
are
quite
low.
I
understand
for
this
industry
around
five
percent
for
the
restaurant
or
catering
industry
and,
to
then
be,
you
know,
clipping
38
percent
in
there.
Yes,
you
might
get
an
extra
job,
but
actually
you're
losing
out.
So
that's
why
we're
seeing
an
increase
in
revenue
but
decrease
in
profit
unless
is,
of
course,
external
external
values
such
as
marketing
advantages
as
well,
so
yeah.
A
This
is
the
the
the
problem,
so
the
problem
is
38%
are
taken
by
the
likes
of
platforms
like
uber,
overeats
and
others.
People
are
starting
to
talk
about
a
lot
more.
This
is
a
Greg.
Is
a
mentor
coach
and
actually
I
picked
up
his
LinkedIn
post,
which
prompted
me
to
make
the
connection
here
with
this
data
and
this
report.
A
So
there's
a
lip
sauce
down
below
of
the
report
there,
but
he's
saying
you
know:
can
we
explain
how
this
is
good
for
the
economy
if
it
pays,
if
this
US
corporation
pays
1%
income
tax
and
actually
takes
38%
of
revenue
from
Australia?
Like
that's
he's
saying,
like
you
know,
what's
wrong
with
this
there's
some
problems,
there's
a
few
of
them
like
that
they're
all
foreign
owned
and
perhaps
paying
less
tax
in
Australia,
but
effectively
taking
money
out
of
that
industry.
Finally,
he
says
probably
the
biggest
jumps
on
the
planet.
A
Why
do
we
allow
this
in
our
economy?
So
there's
a
bit
of
sort
of
resentment
toward
this
model
when
you
look
at
the
numbers,
it's
actually
not
not
so
great
in
other
means.
What
this
also
looks
like
when
you
have
multiple
platforms.
Doing
the
same
thing
is,
you
might
have
people
subscribe
to
one
so
you
might
have
arrest
carols
running
a
restaurant
James
is
making
a
purchase
or
vice
versa,
and
they
might
be
using
Goodreads,
but
another
one
might
be
using
delivery
route.
A
When
the
goods
are
delivered,
there
may
be
a
fee
for
other
things,
so
both
sides
are
effectively
having
to
pay
for
something
which
is
when
it's
up
to
the
price
of
the
service
being
offered
by
the
platform,
but
not
good
when
it
starts
to
over
extract
and
use
its
advantage
of
having
everyone
on
their
platform
to
then
take
more
than
than
what
they're
delivering
so
to
look
towards
the
requirements
of
a
solution.
The
core
point
here
is
that
things
are
now
free
and
independent,
as
it
were
before
things
are
locked
into
the
platform.
A
So
what
we
do
want
is
something
a
means
to
freely
and
independently
create
offers
for
what
you
want
to
buy
or
sell,
discover
and
find
offers
for
things
you
want
to
sell
and
buy
and
finally
be
able
to
freely
and
independently
transact
with
those
offers.
So
that's
the
important
point
here:
that's
currently
not
easier
to
do
to
say,
if
I
create
an
offer,
how
can
I
let
that
exist
and
be
shared
around
and
allow
anyone
to
transact
with
it,
independent
of
any
central
platform
or
server
a
little
bonus
point
here.
A
This
will
be
part
of
the
discussion
at
the
end,
is
around
integrating
between
any
types
of
offers.
So
someone
might
have
tickets
to
a
sporting
event.
Another
person
might
be
doing
hospitality
or
a
hotel
and
they
might
say
well
look
if
you're
holding
a
ticket
in
this
area.
I'm
gonna
offer
you
a
discount
hotel
room
because
I
want
your
business,
so
those
kind
of
connections
are
quite
hard
to
do
requires
a
lot
of
first
business
agreement
and,
second
to
that,
you
then
need
the
technical
integrations
or
an
API.
A
If
it
doesn't
already
exist,
it
needs
to
be
built.
So
there's
a
lot
of
friction
in
having
that
interoperability.
So
that's
kind
of
a
bonus
if
you
get
that
arm
for
free
and
yeah.
Finally,
just
to
stress
the
point
that
it
most
certainly
does
not.
Monopolistically
distort
the
free
market,
with
increased
costs
to
buyers
and
sellers
and
finally
does
not
add
friction
to
the
free
market
or
decreased
efficiency
and
I
expand
on
those
points
in
in
the
article
I
lived
in
the
event
so
towards
a
solution.
A
You
need
something
like
unique
identifies
and
signing
so
just
to
explain
this
a
bit
more.
What
we
currently
do
is
we
put
our
data
on
every
service
we
use.
We
put
our
email,
our
private
information,
and
we
have
to
have
a
login
for
each
of
those
and
they're
hosting
all
of
our
data
that
service
shuts
down.
They
now
there's
some
laws
that
are
protecting
us
a
little
bit
more.
A
We
have
the
right
to
be
forgotten
if
we
want,
but
they
can
have
backups
and
hold
that
data
if
they
have
a
a
breach
of
security,
breach
our
daughter's
out
there
and
potentially
sold
on
on
black
markets.
So
that's
a
bit
of
a
risk.
Ideally,
we
have
our
own
identity
in
our
own
device
where
we
hold
it-
and
we
say
this
is
our
unique
identifier
or
multiple
unique
identifiers
that
can't
be
duplicated.
A
So
the
uniqueness
is
important
there
that
we
hold
and
the
ability
to
sign
means
the
ability
to
say
that
that
this
is
something
you
authorized,
so
no
one
else
can
fake.
So
this
is
kind
of
cryptography
from
the
70s
public,
private
key
cryptography,
but
by
another
term
it's
unique
identifiers
and
signing
and
that
that's
sort
of
one
of
the
attributes
we
need.
A
The
other
part
is
around
tokens,
so
the
concept
of
a
token
isn't
new.
Although
the
blockchain
space
does
say
tokenization
a
lot,
it's
like
what
does
that
even
mean,
but
when
you
think
back
to
laundry
coins
or
game
coins,
I
game,
arcade
you'll
buy
the
token
for
the
arcade,
and
then
you
use
those
tokens
in
the
thing
now
it's
off
with
cards
and
digital.
Of
course,
you
know
old
trams
used
to
have
punch
cards,
so
the
coffee
cards
are
effectively
the
same
thing.
It's
like
a
token
that
you,
you
punch
and
you
count
them.
A
It's
effectively
the
same
thing
and
you
don't
want
someone
else
hosting
you
want
to
be
able
to
have
it
yourself
and
to
say
here
is
something
I
possess
and
can
freely
share
myself,
but
that's
yet
digital,
so
I'm,
going
to
break
into
what
it
looks
like
this
is
a
quite
a
messy
looking
graph,
but
on
the
Left.
What
we
have
is
how
it
currently
works,
where
platforms
have
their
servers
and
an
app
and
a
website
to
connect
to
them
your
private
information,
your
personally
identifiable
information,
is
within
each
one
of
those.
A
You
have
a
copy
of
all
your
private
information,
like
we
showed
in
the
previous
couple
of
slides
that
is
stored
in
each
one
of
those
servers,
and
it's
very
siloed.
You
notice,
there's
not
much
crosstalk
between
them
and
if
there
is,
there
has
to
be
business
agreement
and
then
technical
agreement
between
them,
like
api's,
that
someone
is
connecting
and
doing
something
with,
but,
as
it
looks
really
quite
siloed
to
focus
a
little
bit
more
on
on
the
right
hand,
side.
A
We
have
down
the
bottom
here,
a
digital
representation
of
tokens,
so
when
we
describe
the
token
it
kind
of
looks
like
this
on
the
blockchain,
where
each
thing
each
token
is
its
own
independent,
smart
contract.
So
that's
just
some
terminology
in
the
blockchain
space,
those
are
called
smart
contracts
and
then
for
those
to
be
more
readily
accessed.
You
need
a
bit
of
a
front-end,
but
we
don't
want
that
front-end
to
be
a
full-blown
website,
hosted
on
a
private
server
or
via
accessed
via
a
proprietary,
app
or
anything.
A
We
want
those
modules
to
be
independent,
so
this
is
part
of
what
our
fall.
It's
doing
these
modules
here,
or
at
least
the
protocol
around
these
modules
to
be
to
provoke
people
to
do
tokens
in
a
more
accessible
way
that
is
free
and
independent,
and
then
we're
encouraging
others
to
either
mix
up
their
own
tokens
via
this
platform,
or
they
can
use
a
wallet
that
is
compatible
with
this
protocol.
That
protocol
being
called
token
script
and
one
example
of
that
is
alpha
wallet
which
is
open-source
but
we'll
get
into
that
later.
A
But
a
lot
of
what
we
do
is
to
promote
and
like
a
lot
of
others,
actually
doing
a
open
ecosystem
around
tokens,
we're
trying
to
add
some
extra
helpers
to
that
and
provide
an
open-source
way
of
accessing
that
independently
and
freely.
Of
course,
it's
an
interesting
quote.
This
tweet
was
just
the
other
day
in
the
future.
You
won't
log
into
apps
an
app
will
login
to
you.
With
your
permission.
It
will
understand
your
preferences
and
deliver
it
to
you,
the
service
that
you
want
in
a
useful
way.
A
You
will
control
what
data
the
app
sees
and
you
will
get
compensated
for
your
data,
which
is
you
know,
quite
a
flip
to
what
we
have
today,
where
we
are
giving
our
data
to
to
these
platforms
we're
not
getting
paid
for
it.
That's
for
sure
you
look
at
Facebook.
They
make
a
lot
of
money
from
our
data,
but
yet
in
the
future,
we'll
hold
our
data
on
our
devices
with
our
keys,
and
we
will
optionally
share
that
or
invite
others
into
access.
What
what
we
permit,
which
is
yeah
a
good
thing
to
have
so
what?
A
What
was
this
in
the
model
of
there
being
platforms
and
marketplaces?
You
know
hosting
your
data
hosting
your
data,
keeping
it
separate
all
the
problems
we've
discussed
will
be
replaced
with
something
like
this,
where
it's
just
open,
there's,
actually
no
one
necessarily
sitting
in
the
middle
to
intercept
the
money
that
goes
between
one
person
and
another,
so
the
intention
of
the
blockchain
tokens
isn't
necessarily
to
cut
the
ticket.
So
the
idea
is
that
it
will
enable
people
to
do
this.
A
It
will
allow
whomever
selling
what
to
access
anyone
else
if
they
wish
there
will
be
no
barriers
between
them.
It
will
still
need
some
discoverability,
which
we'll
get
to
a
bit
later
on
how
people
can
find
each
other.
You
still
might
need
a
platform
for
search,
but
they
aren't
a
walled
garden
around
the
transaction.
You
can
take
the
transaction
outside
of
that,
but
again,
we'll
expand
a
bit
later.
So
a
16z
put
this
tweet
up,
which
is
off
report
here
by
Jess.
Crypto
founders
have
to
do
more
than
just
build
a
product.
A
They
have
to
build
a
community
of
users
and
give
up
control
to
that
community.
I
found
that
interesting
too,
to
be
coming
from
yes
like
to
be
brought
up
more
recently,
because
I
think
a
lot
of
people
look
either
at
community
and
think.
Ok,
we've
got
to
do
some
community
things
and
others
think
I
know:
we've
got
to
be
founders
started,
get
everyone
in
the
platform
lock-in
and
growth
growth
growth,
but,
on
the
other
hand,
the
fact
that
this
is
flipped
I,
really
like
it
and
I
tweeted.
A
A
So
coming
back
to
it,
we
covered
these
two
points
around
having
the
ability
to
uniquely
identify
yourself
and
sign
for
things
in
a
unique
and
verifiable
way,
and
then
to
have
a
digitization
of
the
concept
of
the
token
that
we
have
that
is
free
and
independent
and
can
be
moved
and
transferred,
digitally
and
verifiably
to
be
able
to
use
that
better
yeah
right
now.
Those
two
concepts
are
a
bit
foreign.
It's
like
you,
don't
want
to
be
learning
cryptography.
A
You
don't
want
to
be
having
to
access
your
console
to
typing
commands,
so
we
want
to
make
that
easy,
with
an
open
source,
app,
that's
free
to
use
and
free
to
download
and
everything
so
and
we're
actually
getting
this
risk.
Ind
a
lot
of
businesses
want
their
own
app,
so
we're
reskin
enos
as
a
service
and
they're
getting
their
own
app
and
the
ability
to
host
their
own
tokens
and
still
everyone
else's
tokens.
A
This
interoperability
is
what's
most
important,
that
we
can
have
different
networks
and
different
tokens
of
different
things,
but
we
want
it
to
be
easy
to
use
and
yet
and
give
users
confidence
and
able
to
be
used.
For
now.
It's
mobile
but
later
will
be
in
the
browser
as
well.
So
tying
this
back
to
the
solution
requirements
yeah.
A
We
have
those
four
things
there
to
create,
find
and
transact
freely
and
independently,
and
also
to
be
able
to
integrate
independently
between
these
tokens
or
these
offers,
and
so
these
pieces
here
around
the
opportunities-
and
this
is
taken
again
from
the
article
I
launched
the
other
day.
So
for
the
first
point
there
will
be
more
and
more
people
wanting
to
tokenize
their
certain
rights.
So
here
is
an
example
of
tickets,
so
World
Cup
2018.
A
If
they're
a
developer
agencies
out
there.
This
would
be
something
that
could
be
worth
their
while
if
they
get
familiar
with
how
to
tokenize
something
there'll
be
more
demand
for
businesses
who
do
want
to
tokenize
things.
So
that's
one
demand
for
those
kind
of
consulting
agencies
or
or
advising
people
even
on
how
to
do
it
and
why
to
do
it?
Finding
and
I
think
that's
actually
probably
more
of
the
challenge
explaining
to
people
who
aren't
necessarily
in
the
blockchain
space
the
advantages
they
could
get
from
tokenization,
which
is
just
at
first
glance.
A
It's
just
quite
a
mouthful
to
say
and
and
they'll
consider
the
eyes
will
glaze
over
anyway
yeah.
So
the
next
point
was
around
discoverability,
so
where
I
was
saying
before,
you
still
need
platforms
to
match
things.
So
if
someone's
posting
something,
they
still
need
to
find
someone
who
wants
to
pay
for
the
thing
they've
posted,
but
at
least
yeah
at
least
you
don't
have
ownership
of
that
that
posting.
A
So,
if
someone's
posted
an
offer
for
something
that
can
just
as
well
be
found
by
another
platform,
and
if
the
other
platform
does
matching
better
people
are
going
to
be
on
that
platform.
There's
no
longer
locking,
because
your
offer
or
your
service
or
the
rights
you
possess
will
be
digital
in
the
independent.
So
the
platform's
will
just
find
them
and
host
them
a
bit
like
Google
did
at
the
beginning.
They
were
scraping
and
they
still
do
their
scrape
to
find
web
pages
and
then
present
them
in
a
nice
way.
A
The
better
search
engine,
one
similar
things
will
happen
here
where
tokens
will
exist
as
people
start
tokenizing,
digital
rights
or
tokenizing
rights
and
manifesting
them
digitally,
but
the
discoverability
of
them
is
still
a
problem
to
be
solved.
So
that's
something
that
all
I
believe
need
some
work
with
transactions.
What
was
the
point
here
took
an
example?
Yes,
so
with
this
one,
the
ability
to
resell
tickets,
so
for
the
fee
for
2018
tickets,
they
were
able
to
be
bought.
So
someone
possessed
the
right
to
that
ticket.
A
They
were
free
to
resell
or
transfer
that
ticket
right
to
anyone
else.
They
didn't
need
permission.
They
didn't
need
to
go
back,
you
could
sell
tickets
freely
and
independently
outside
in
a
secondary
market,
but
also
FIFA
was
happy
with
that,
because
they
could
have
visibility
of
how
many
times
that
ticket
might
have
changed
over
with
the
smart
contracts.
A
little
interesting
thing
here
is:
you
could
put
a
little
condition
on
it.
Maybe
you
only
want
to
transfer
maximum
two
times,
so
someone
can't
keep
rotating
it.
A
So,
although
it's
a
token
in
the
sense
that
you
can
pass
it
around,
it
can
be
a
smart
token
and
do
actually
a
little
bit
more
so
that
there's
some
creativity
and
thought
I'm
going
to
here.
But
this
is
the
part.
That's
kind
of
more
interesting
is
to
where
it's
yeah
in
the
article
I
described.
This
is
not
business
as
usual,
because
once
yeah,
once
you
do
think
of
people
or
businesses
having
their
rights
tokenized,
so
I'm
will
play
with
some
examples.
A
A
time
trial
do
an
ad
hoc
or
at
least
attempt
to
like
disk
space
in
a
co-working
space.
If
somehow
that
was
right,
where
someone's
paid
for
the
right
to
a
desk
for
a
week,
of
course,
there'll
be
logistics
in
swapping
the
person.
But
let's
say
that
that
right
is
recognized
to
say
oh
you're
co-working
at
this
space.
Can
you
prove
it?
Well?
A
Actually
you
can,
and
you
don't
even
necessarily
need
to,
because
if
you
choose
to
expose
that
token
and
others
can
discover
it,
then
people
might
want
to
invite
you
for
an
off
in
terms
of
oh
here's,
our
catering
off,
if
you're
a
YBF,
here's
a
catering
thing
like
the
thing
we
do
now
downstairs
is
that
we
can
get
a
discount
for
the
purchases
because
we
work
at
the
co-working
space.
To
do
that,
we
have
to
present
our
lanyard.
That's
going
online
I'm
bidding
yeah
there
you
go
so
anything
with
that.
A
You
can
access
a
small
discount
and
they
sometimes
quiz.
You,
which
is
good,
so
you
can't
just
do
that
in
karbala
onion.
It's
not
going
to
work!
So
yes,
so
that
that's
an
having
that
in
your
wallet
instead
would
be
interesting
because,
as
you
make
the
purchase,
it
would
just
detect
that
that
they
will
already
be
offering
the
discount
your
wallet
would
already
have
the
token
in
it.
You
don't
even
have
to
think
you
just
do
it
and
you
get
the
discount.
A
That's
you
know
one
scenario,
but
the
other
scenario
which
was
brought
up
was
around
again
sporting
tickets
and
the
hospitality
or
like
restaurants
in
the
area
or
hotels
in
the
area
offering
discounts
sports
ticket
holders.
So
if
it's
a
significant
sporting
event
and
you're
a
hotel
nearby,
you
want
that
business.
So
you'll
do
your
best
and
try
to
get
them.
Invite
them
in
that's
some.
We
can
talk
more
about
that.
Perhaps
at
the
end,
just
some
ideas
around
that
I
think
what
could
be
tokenized
and
what
cross
connections
can
actually
happen.
A
That
could
be
interesting
there,
so
just
to
sort
of
shake
this
into
context.
Tokenization
can
solve
more
than
just
this
problem
like
this
problem
was
where
I
started.
Just
so,
there's
a
bit
more
concrete,
intangible
and
tokenization
can
solve
this
and
do
a
lot
more
other
things
like
with
the
bonus
point
around
integration,
as
we
discussed,
but
also
tokenization,
is
only
one
part
of
web
3
technology
so
well.
This
is
so
small
compared
to
what
is
possible
and
what
I
believe
will
be
happening
over
the
next
year's
and
yeah.
A
So
in
the
way
that
we
have
got
like
you
know,
when
the
internet
first
started
that
was
like
web
1.0,
then
you've
got
web
2.0
when
certain
technologies
came
about
and
then
web
freeze,
more
around
decentralized
technologies,
so
yeah
they're,
just
calling
it
web
3
and
yet
organization
is
a
significant
part
of
that.
If
not
so
yeah
there's
a
lot
coming
and
that's
about
it.
For
me,
cool
thanks.
Everyone
don't
with
it
yeah
whether
any
question
I'm
wonderful,
just
stop
the
recording.
Now.