WEBVTT

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Cool.

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<00:00:07.185>Hello <00:00:07.756>everybody. <00:00:08.328>Uh,

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<00:02:31.015>So <00:02:31.131>usually <00:02:31.248>what <00:02:31.364>you <00:02:31.481>would <00:02:31.598>do <00:02:31.714>is <00:02:31.831>you <00:02:31.948>take <00:02:32.065>a <00:02:32.181>piece <00:02:32.298>of <00:02:32.415>data

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<00:02:47.595>So <00:02:47.734>it'll <00:02:47.875>always <00:02:48.015>tell <00:02:48.155>you <00:02:48.295>it's <00:02:48.435>like <00:02:48.575>a <00:02:48.715>temper <00:02:48.855>proof <00:02:48.995>lock

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<00:02:51.195>of <00:02:51.370>which <00:02:51.545>data <00:02:51.720>existed <00:02:51.894>in <00:02:52.070>case <00:02:52.245>the <00:02:52.420>company <00:02:52.595>decides

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<00:02:55.095>to <00:02:55.250>change <00:02:55.406>a <00:02:55.561>bit <00:02:55.717>of <00:02:55.872>the <00:02:56.028>data <00:02:56.183>in <00:02:56.339>the <00:02:56.495>database,

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<00:02:58.275>the <00:02:58.475>data <00:02:58.675>won't <00:02:58.875>match <00:02:59.075>anymore <00:02:59.275>on <00:02:59.475>the <00:02:59.675>blockchain.

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<00:03:05.145>So <00:03:05.272>what <00:03:05.399>you <00:03:05.526>do <00:03:05.654>is <00:03:05.781>you <00:03:05.908>create <00:03:06.035>actually <00:03:06.163>a <00:03:06.290>hash <00:03:06.417>of <00:03:06.545>your

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<00:03:08.805>original <00:03:09.038>data <00:03:09.271>and <00:03:09.505>you <00:03:09.738>store <00:03:09.971>this <00:03:10.205>fingerprint

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<00:03:10.965>basically <00:03:11.421>on <00:03:11.877>the <00:03:12.333>blockchain.

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<00:03:12.585>So <00:03:12.865>it's <00:03:13.145>basically <00:03:13.425>timestamping <00:03:13.705>the <00:03:13.985>fingerprints

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<00:03:15.365>of <00:03:15.520>your <00:03:15.676>original <00:03:15.831>data <00:03:15.987>to <00:03:16.142>prove <00:03:16.298>that <00:03:16.453>the <00:03:16.609>data <00:03:16.765>existed.

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<00:03:21.405>where <00:03:21.638>they <00:03:21.871>want <00:03:22.105>to <00:03:22.338>store <00:03:22.571>all <00:03:22.805>kinds

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<00:03:23.485>of <00:03:23.765>transaction <00:03:24.045>proofs <00:03:24.325>on <00:03:24.605>the <00:03:24.885>blockchain.

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<00:03:25.395>Each <00:03:25.648>time <00:03:25.902>they <00:03:26.156>do <00:03:26.410>a <00:03:26.664>transaction,

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<00:03:29.305>and <00:03:29.560>this <00:03:29.816>acts <00:03:30.071>as <00:03:30.327>their <00:03:30.583>lock

83
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<00:03:31.105>or <00:03:31.280>their <00:03:31.454>history <00:03:31.630>in <00:03:31.804>case <00:03:31.980>an <00:03:32.155>auditor <00:03:32.329>comes <00:03:32.505>by

84
00:03:33.905 --> 00:03:36.365
<00:03:33.905>or <00:03:34.080>someone <00:03:34.255>else <00:03:34.430>that <00:03:34.605>wants <00:03:34.780>to <00:03:34.955>verify <00:03:35.130>their <00:03:35.305>data,

85
00:03:36.875 --> 00:03:39.485
<00:03:36.875>they <00:03:37.050>can <00:03:37.225>just <00:03:37.400>run <00:03:37.575>some <00:03:37.750>software <00:03:37.925>on <00:03:38.100>the <00:03:38.275>blockchain,

86
00:03:39.555 --> 00:03:41.005
<00:03:39.555>consuming <00:03:39.990>all <00:03:40.425>these <00:03:40.859>proofs

87
00:03:41.305 --> 00:03:42.405
<00:03:41.305>and <00:03:41.552>then <00:03:41.800>matching <00:03:42.047>them <00:03:42.295>up

88
00:03:42.405 --> 00:03:45.405
<00:03:42.405>with <00:03:42.560>the <00:03:42.716>records <00:03:42.871>in <00:03:43.027>their <00:03:43.182>database <00:03:43.338>in <00:03:43.493>case <00:03:43.649>the <00:03:43.805>bank

89
00:03:46.085 --> 00:03:47.965
<00:03:46.085>modified <00:03:46.365>something, <00:03:46.645>they <00:03:46.925>did <00:03:47.205>something <00:03:47.485>fraudulent.

90
00:03:48.195 --> 00:03:49.725
<00:03:48.195>This <00:03:48.470>hash <00:03:48.745>won't <00:03:49.021>match <00:03:49.296>up <00:03:49.572>anymore

91
00:03:49.725 --> 00:03:50.765
<00:03:49.725>with <00:03:49.912>the <00:03:50.099>hash <00:03:50.286>on <00:03:50.473>the <00:03:50.661>blockchain.

92
00:03:50.785 --> 00:03:54.085
<00:03:50.785>So <00:03:50.940>you <00:03:51.096>actually <00:03:51.251>built <00:03:51.407>like <00:03:51.562>a <00:03:51.718>trusted <00:03:51.873>layer <00:03:52.029>of <00:03:52.185>proofs

93
00:03:54.115 --> 00:03:56.165
<00:03:54.115>that <00:03:54.348>you <00:03:54.581>can <00:03:54.815>use <00:03:55.048>to <00:03:55.281>match, <00:03:55.515>uh,

94
00:03:56.165 --> 00:03:59.285
<00:03:56.165>the <00:03:56.445>data <00:03:56.725>in <00:03:57.005>your <00:03:57.285>original <00:03:57.565>database.

95
00:04:00.035 --> 00:04:02.535
<00:04:00.035>So <00:04:00.174>as <00:04:00.315>I <00:04:00.454>said, <00:04:00.595>what <00:04:00.734>are <00:04:00.875>the <00:04:01.015>benefits <00:04:01.155>of <00:04:01.295>this <00:04:01.435>pattern?

96
00:04:03.075 --> 00:04:04.855
<00:04:03.075>You <00:04:03.355>get <00:04:03.635>temper <00:04:03.915>proof <00:04:04.195>log <00:04:04.475>system.

97
00:04:05.435 --> 00:04:07.415
<00:04:05.435>You <00:04:05.715>allow <00:04:05.995>anyone <00:04:06.275>to <00:04:06.555>come <00:04:06.835>by

98
00:04:07.415 --> 00:04:09.695
<00:04:07.415>and <00:04:07.648>do <00:04:07.881>independent <00:04:08.114>verification <00:04:08.348>of <00:04:08.581>your <00:04:08.815>data

99
00:04:09.955 --> 00:04:11.775
<00:04:09.955>as <00:04:10.235>it's <00:04:10.515>timestamped <00:04:10.795>on <00:04:11.075>the <00:04:11.355>blockchain.

100
00:04:12.205 --> 00:04:14.895
<00:04:12.205>It's <00:04:12.380>also <00:04:12.555>very <00:04:12.730>low <00:04:12.905>impact <00:04:13.080>for <00:04:13.255>your <00:04:13.430>existing <00:04:13.605>systems.

101
00:04:14.995 --> 00:04:17.095
<00:04:14.995>So <00:04:15.150>you <00:04:15.306>just <00:04:15.461>have <00:04:15.617>to <00:04:15.772>build <00:04:15.928>like <00:04:16.083>a <00:04:16.239>single <00:04:16.394>service

102
00:04:17.485 --> 00:04:20.735
<00:04:17.485>that <00:04:17.640>does <00:04:17.796>like <00:04:17.951>the <00:04:18.107>timestamping, <00:04:18.262>it <00:04:18.418>just <00:04:18.573>accepts <00:04:18.729>a <00:04:18.885>hash

103
00:04:20.915 --> 00:04:22.455
<00:04:20.915>and <00:04:21.113>it <00:04:21.311>stores <00:04:21.509>a <00:04:21.707>hash <00:04:21.904>on <00:04:22.103>the <00:04:22.301>blockchain.

104
00:04:22.525 --> 00:04:25.815
<00:04:22.525>It's <00:04:22.680>low <00:04:22.836>impact. <00:04:22.991>And <00:04:23.147>finally, <00:04:23.302>it's <00:04:23.458>also <00:04:23.613>very <00:04:23.769>cost <00:04:23.924>effective.

105
00:04:26.205 --> 00:04:27.335
<00:04:26.205>Most <00:04:26.544>chains <00:04:26.883>allow <00:04:27.222>you

106
00:04:27.335 --> 00:04:29.855
<00:04:27.335>to <00:04:27.510>store <00:04:27.685>data <00:04:27.859>in <00:04:28.034>a <00:04:28.210>very <00:04:28.385>cost <00:04:28.560>effective <00:04:28.734>manner.

107
00:04:30.115 --> 00:04:33.455
<00:04:30.115>For <00:04:30.315>example, <00:04:30.515>Heera <00:04:30.715>itself, <00:04:30.915>we <00:04:31.115>charge <00:04:31.315>you <00:04:31.515>$1

108
00:04:33.515 --> 00:04:36.455
<00:04:33.515>for <00:04:33.690>storing <00:04:33.865>10,000 <00:04:34.039>of <00:04:34.215>these <00:04:34.390>messages <00:04:34.565>on <00:04:34.740>the <00:04:34.914>chain.

109
00:04:36.515 --> 00:04:39.255
<00:04:36.515>So <00:04:36.670>it's <00:04:36.826>very <00:04:36.981>cheap <00:04:37.137>and <00:04:37.292>also <00:04:37.448>very <00:04:37.603>low <00:04:37.759>impact <00:04:37.914>on

110
00:04:39.255 --> 00:04:40.615
<00:04:39.255>your <00:04:39.867>existing <00:04:40.479>architecture.

111
00:04:42.655 --> 00:04:46.035
<00:04:42.655>If <00:04:42.782>we <00:04:42.909>take <00:04:43.036>a <00:04:43.164>look <00:04:43.291>at <00:04:43.418>the <00:04:43.545>code <00:04:43.673>example, <00:04:43.800>you <00:04:43.927>can <00:04:44.054>see

112
00:04:46.055 --> 00:04:47.835
<00:04:46.055>for <00:04:46.288>example <00:04:46.521>here <00:04:46.755>we <00:04:46.988>have <00:04:47.221>a <00:04:47.455>topic

113
00:04:47.835 --> 00:04:49.115
<00:04:47.835>message, <00:04:48.411>submit <00:04:48.987>transaction.

114
00:04:49.185 --> 00:04:51.595
<00:04:49.185>This <00:04:49.385>is <00:04:49.585>actually <00:04:49.785>a <00:04:49.985>function <00:04:50.185>from <00:04:50.385>our <00:04:50.585>SEK.

115
00:04:52.095 --> 00:04:55.595
<00:04:52.095>You <00:04:52.222>can <00:04:52.349>just <00:04:52.476>use <00:04:52.604>your <00:04:52.731>SEK <00:04:52.858>or <00:04:52.985>you <00:04:53.113>can <00:04:53.240>call <00:04:53.367>API <00:04:53.495>endpoints.

116
00:04:56.175 --> 00:04:57.755
<00:04:56.175>Uh, <00:04:56.375>you <00:04:56.575>don't <00:04:56.775>have <00:04:56.975>to <00:04:57.175>write <00:04:57.375>any <00:04:57.575>kind

117
00:04:57.755 --> 00:04:58.835
<00:04:57.755>of <00:04:58.079>smart <00:04:58.402>contracts <00:04:58.727>here.

118
00:04:59.025 --> 00:05:01.195
<00:04:59.025>It's <00:04:59.200>five <00:04:59.375>lines <00:04:59.549>of <00:04:59.724>codes. <00:04:59.900>You <00:05:00.075>create <00:05:00.250>a <00:05:00.424>topic.

119
00:05:01.755 --> 00:05:04.515
<00:05:01.755>A <00:05:01.895>topic <00:05:02.034>is <00:05:02.175>a <00:05:02.315>bit <00:05:02.455>similar <00:05:02.594>to <00:05:02.735>a <00:05:02.875>Kafka <00:05:03.015>messaging <00:05:03.155>topic

120
00:05:04.515 --> 00:05:07.635
<00:05:04.515>where <00:05:04.655>you <00:05:04.794>stream <00:05:04.935>data <00:05:05.075>to <00:05:05.215>a <00:05:05.354>specific <00:05:05.495>topic, <00:05:05.635>you <00:05:05.775>create <00:05:05.914>it

121
00:05:07.635 --> 00:05:09.635
<00:05:07.635>to <00:05:07.835>segregate <00:05:08.034>data <00:05:08.235>in <00:05:08.435>case <00:05:08.635>you <00:05:08.835>want <00:05:09.034>to,

122
00:05:09.935 --> 00:05:13.475
<00:05:09.935>and <00:05:10.090>then <00:05:10.246>you <00:05:10.401>specify <00:05:10.557>the <00:05:10.712>message, <00:05:10.868>you <00:05:11.023>execute <00:05:11.179>the <00:05:11.335>function

123
00:05:13.735 --> 00:05:15.915
<00:05:13.735>and <00:05:13.890>you <00:05:14.046>wait <00:05:14.201>for <00:05:14.357>the <00:05:14.512>blockchain <00:05:14.668>to <00:05:14.823>get <00:05:14.979>the <00:05:15.135>receipt.

124
00:05:16.175 --> 00:05:19.275
<00:05:16.175>The <00:05:16.375>blockchain <00:05:16.575>will <00:05:16.775>then <00:05:16.975>return <00:05:17.175>the <00:05:17.375>final <00:05:17.575>timestamp.

125
00:05:19.615 --> 00:05:20.795
<00:05:19.615>And <00:05:19.827>this <00:05:20.039>is <00:05:20.252>actually <00:05:20.464>your <00:05:20.677>proof

126
00:05:20.795 --> 00:05:22.915
<00:05:20.795>that <00:05:20.970>the <00:05:21.145>data <00:05:21.320>has <00:05:21.495>been <00:05:21.670>stored <00:05:21.845>on <00:05:22.020>the <00:05:22.195>blockchain.

127
00:05:23.375 --> 00:05:26.315
<00:05:23.375>If <00:05:23.502>you <00:05:23.629>want <00:05:23.756>to, <00:05:23.884>you <00:05:24.011>can <00:05:24.138>still <00:05:24.265>start <00:05:24.393>this <00:05:24.520>timestamp <00:05:24.647>in <00:05:24.775>your

128
00:05:26.375 --> 00:05:27.475
<00:05:26.375>own <00:05:26.870>local <00:05:27.365>database.

129
00:05:27.475 --> 00:05:30.115
<00:05:27.475>So <00:05:27.630>you <00:05:27.786>have <00:05:27.941>like <00:05:28.097>all <00:05:28.252>the <00:05:28.408>proofs <00:05:28.563>locally <00:05:28.719>as <00:05:28.875>well.

130
00:05:30.345 --> 00:05:33.515
<00:05:30.345>It's <00:05:30.545>a <00:05:30.745>bit <00:05:30.945>easier <00:05:31.145>sometimes, <00:05:31.345>um, <00:05:31.545>than <00:05:31.745>having

131
00:05:33.515 --> 00:05:35.275
<00:05:33.515>to <00:05:33.715>query <00:05:33.914>all <00:05:34.115>the <00:05:34.315>logs <00:05:34.515>from <00:05:34.715>the <00:05:34.914>blockchain

132
00:05:35.275 --> 00:05:37.515
<00:05:35.275>because <00:05:35.430>it <00:05:35.586>takes <00:05:35.741>a <00:05:35.897>bit <00:05:36.052>of <00:05:36.208>time <00:05:36.363>to <00:05:36.519>retrieve <00:05:36.674>them.

133
00:05:39.935 --> 00:05:42.475
<00:05:39.935>So <00:05:40.135>the <00:05:40.335>second <00:05:40.535>pattern <00:05:40.735>is <00:05:40.935>sort <00:05:41.135>of <00:05:41.335>similar,

134
00:05:42.495 --> 00:05:44.595
<00:05:42.495>but <00:05:42.728>it's <00:05:42.961>like <00:05:43.195>on <00:05:43.428>chain <00:05:43.661>data <00:05:43.895>aggregation.

135
00:05:45.065 --> 00:05:48.155
<00:05:45.065>This <00:05:45.240>pattern <00:05:45.415>is <00:05:45.590>very <00:05:45.765>useful <00:05:45.940>for <00:05:46.115>when <00:05:46.290>companies <00:05:46.465>need

136
00:05:48.155 --> 00:05:50.035
<00:05:48.155>to <00:05:48.388>share <00:05:48.621>data <00:05:48.854>outside <00:05:49.088>of <00:05:49.321>their <00:05:49.554>systems.

137
00:05:50.135 --> 00:05:52.195
<00:05:50.135>For <00:05:50.310>example, <00:05:50.485>you <00:05:50.659>have <00:05:50.835>a <00:05:51.010>supply <00:05:51.185>chain <00:05:51.360>use <00:05:51.534>case

138
00:05:52.375 --> 00:05:54.955
<00:05:52.375>and <00:05:52.515>they <00:05:52.655>all <00:05:52.795>have <00:05:52.935>to <00:05:53.075>share <00:05:53.215>data <00:05:53.355>outside <00:05:53.495>of <00:05:53.635>their <00:05:53.775>boundaries,

139
00:05:54.955 --> 00:05:57.035
<00:05:54.955>outside <00:05:55.155>of <00:05:55.354>their <00:05:55.555>systems, <00:05:55.755>but <00:05:55.955>they <00:05:56.155>do <00:05:56.354>not

140
00:05:57.165 --> 00:05:58.405
<00:05:57.165>trust <00:05:57.388>each <00:05:57.611>other <00:05:57.834>all <00:05:58.057>the <00:05:58.280>time.

141
00:05:58.575 --> 00:06:00.005
<00:05:58.575>There <00:05:59.004>are <00:05:59.433>multiple <00:05:59.861>suppliers,

142
00:06:00.005 --> 00:06:01.565
<00:06:00.005>there <00:06:00.355>are <00:06:00.705>multiple <00:06:01.055>logistics <00:06:01.405>companies,

143
00:06:01.565 --> 00:06:04.725
<00:06:01.565>there <00:06:01.765>are <00:06:01.965>retail <00:06:02.165>users, <00:06:02.365>they <00:06:02.565>are <00:06:02.765>shipping <00:06:02.965>goods.

144
00:06:04.785 --> 00:06:07.805
<00:06:04.785>And <00:06:05.018>each <00:06:05.251>company <00:06:05.485>has <00:06:05.718>like <00:06:05.951>a <00:06:06.185>different

145
00:06:07.805 --> 00:06:09.045
<00:06:07.805>history <00:06:08.084>of <00:06:08.363>what <00:06:08.642>has <00:06:08.921>happened.

146
00:06:09.265 --> 00:06:11.445
<00:06:09.265>One <00:06:09.405>company <00:06:09.544>says <00:06:09.685>the <00:06:09.825>good <00:06:09.965>has <00:06:10.104>arrived, <00:06:10.245>the <00:06:10.385>other <00:06:10.525>one <00:06:10.664>says

147
00:06:11.445 --> 00:06:12.645
<00:06:11.445>that <00:06:11.661>the <00:06:11.877>good <00:06:12.092>has <00:06:12.308>not <00:06:12.525>arrived.

148
00:06:13.025 --> 00:06:15.325
<00:06:13.025>So <00:06:13.200>who, <00:06:13.375>who <00:06:13.549>is, <00:06:13.724>who <00:06:13.900>is <00:06:14.075>speaking <00:06:14.250>the <00:06:14.424>truth?

149
00:06:15.745 --> 00:06:17.365
<00:06:15.745>So <00:06:15.978>you <00:06:16.211>don't <00:06:16.445>trust <00:06:16.678>each <00:06:16.911>other's <00:06:17.145>data.

150
00:06:17.745 --> 00:06:20.405
<00:06:17.745>So <00:06:17.872>what <00:06:17.999>we <00:06:18.126>can <00:06:18.254>do <00:06:18.381>here <00:06:18.508>is <00:06:18.635>we <00:06:18.763>use <00:06:18.890>the <00:06:19.017>blockchain <00:06:19.145>actually

151
00:06:20.425 --> 00:06:21.845
<00:06:20.425>as <00:06:20.744>this <00:06:21.064>trusted <00:06:21.383>data <00:06:21.703>layer.

152
00:06:22.445 --> 00:06:24.565
<00:06:22.445>Everyone <00:06:22.724>can <00:06:23.005>start <00:06:23.284>submitting <00:06:23.565>event <00:06:23.844>updates.

153
00:06:24.665 --> 00:06:27.965
<00:06:24.665>For <00:06:24.865>example, <00:06:25.065>each <00:06:25.265>time <00:06:25.465>a <00:06:25.665>shipment <00:06:25.865>is <00:06:26.065>shipped

154
00:06:28.065 --> 00:06:30.445
<00:06:28.065>or <00:06:28.240>it's <00:06:28.415>received <00:06:28.590>at <00:06:28.765>a <00:06:28.940>certain <00:06:29.115>place, <00:06:29.290>it's <00:06:29.465>start

155
00:06:30.445 --> 00:06:31.805
<00:06:30.445>as <00:06:30.689>a <00:06:30.934>lock <00:06:31.179>on <00:06:31.424>the <00:06:31.669>blockchain.

156
00:06:32.565 --> 00:06:33.845
<00:06:32.565>Everyone <00:06:32.949>can <00:06:33.333>subscribe <00:06:33.717>again

157
00:06:33.845 --> 00:06:35.845
<00:06:33.845>to <00:06:34.045>these <00:06:34.245>real <00:06:34.445>time <00:06:34.645>updates <00:06:34.845>on <00:06:35.045>the <00:06:35.245>blockchain.

158
00:06:36.145 --> 00:06:39.045
<00:06:36.145>So <00:06:36.320>everyone's <00:06:36.495>databases <00:06:36.669>stay <00:06:36.844>in <00:06:37.020>sync <00:06:37.195>in <00:06:37.370>real <00:06:37.544>time

159
00:06:39.305 --> 00:06:42.365
<00:06:39.305>and <00:06:39.421>in <00:06:39.538>case <00:06:39.655>of <00:06:39.771>a <00:06:39.888>dispute <00:06:40.005>we <00:06:40.121>can <00:06:40.238>all <00:06:40.355>go <00:06:40.471>to <00:06:40.588>the <00:06:40.705>blockchain

160
00:06:42.385 --> 00:06:45.645
<00:06:42.385>and <00:06:42.560>verify <00:06:42.735>who <00:06:42.909>has <00:06:43.085>like, <00:06:43.260>who's <00:06:43.435>actually <00:06:43.610>the <00:06:43.784>person

161
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<00:06:45.715>that <00:06:45.870>should <00:06:46.026>have <00:06:46.181>the <00:06:46.337>shipment <00:06:46.492>at <00:06:46.648>this <00:06:46.803>point <00:06:46.959>in <00:06:47.115>time.

162
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<00:06:48.065>So <00:06:48.240>you're <00:06:48.415>replacing <00:06:48.590>your <00:06:48.765>own <00:06:48.940>systems <00:06:49.115>by <00:06:49.290>the <00:06:49.465>blockchain

163
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<00:06:51.705>as <00:06:51.943>a <00:06:52.181>source <00:06:52.420>of <00:06:52.659>truth.

164
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<00:06:55.825>So <00:06:55.980>what <00:06:56.136>you <00:06:56.291>get <00:06:56.447>is <00:06:56.602>you <00:06:56.758>get <00:06:56.913>more <00:06:57.069>data <00:06:57.224>consistency

165
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<00:06:59.065>for <00:06:59.298>your <00:06:59.531>own <00:06:59.765>data <00:06:59.998>across <00:07:00.231>your <00:07:00.465>boundaries.

166
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<00:07:01.025>So <00:07:01.224>you <00:07:01.424>get <00:07:01.625>data <00:07:01.825>consistency <00:07:02.025>across <00:07:02.224>different <00:07:02.424>systems

167
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<00:07:03.985>and <00:07:04.570>different <00:07:05.155>organizations.

168
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<00:07:05.625>And <00:07:05.765>you <00:07:05.905>also <00:07:06.045>get <00:07:06.185>like <00:07:06.325>a <00:07:06.465>real <00:07:06.605>time <00:07:06.745>share <00:07:06.885>truth <00:07:07.025>further.

169
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<00:07:09.105>You <00:07:09.305>also <00:07:09.505>get <00:07:09.705>more <00:07:09.905>trust <00:07:10.105>in <00:07:10.305>your <00:07:10.505>data

170
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<00:07:11.085>because <00:07:11.284>you <00:07:11.484>have <00:07:11.685>like <00:07:11.885>this <00:07:12.085>shared <00:07:12.284>data <00:07:12.484>layer

171
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<00:07:14.145>and <00:07:14.284>it's <00:07:14.424>also <00:07:14.565>easier <00:07:14.705>for <00:07:14.844>all <00:07:14.984>of <00:07:15.125>the <00:07:15.265>participants <00:07:15.405>as <00:07:15.544>outside

172
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<00:07:17.325>of <00:07:17.465>your <00:07:17.604>system <00:07:17.745>to <00:07:17.885>audit <00:07:18.025>the <00:07:18.164>data <00:07:18.305>that's <00:07:18.445>on <00:07:18.585>the <00:07:18.724>chain.

173
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<00:07:20.745>And <00:07:20.978>finally, <00:07:21.211>it <00:07:21.445>also <00:07:21.678>simplifies <00:07:21.911>your <00:07:22.145>processes

174
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<00:07:23.105>and <00:07:23.531>your <00:07:23.957>compliance <00:07:24.383>reporting.

175
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<00:07:25.865>So <00:07:26.005>here <00:07:26.145>I <00:07:26.285>took <00:07:26.425>an <00:07:26.565>example <00:07:26.705>that's <00:07:26.845>actually <00:07:26.985>a <00:07:27.125>smart <00:07:27.265>contract

176
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<00:07:29.205>'cause <00:07:29.380>I <00:07:29.555>already <00:07:29.729>used <00:07:29.905>the <00:07:30.080>topic <00:07:30.255>example <00:07:30.430>from <00:07:30.604>before.

177
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<00:07:33.025>It <00:07:33.224>could <00:07:33.424>also <00:07:33.625>work. <00:07:33.825>But <00:07:34.025>here <00:07:34.224>I <00:07:34.424>wanted

178
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<00:07:34.645>to <00:07:34.844>show <00:07:35.044>you <00:07:35.245>a <00:07:35.445>very <00:07:35.645>small <00:07:35.844>smart <00:07:36.044>contract

179
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<00:07:37.115>that <00:07:37.348>stores <00:07:37.581>all <00:07:37.815>kinds <00:07:38.048>of <00:07:38.281>delivery <00:07:38.515>updates.

180
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<00:07:40.065>So <00:07:40.384>it's <00:07:40.704>a <00:07:41.023>delivery <00:07:41.343>contract

181
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<00:07:42.265>and <00:07:42.544>we <00:07:42.825>have <00:07:43.104>a <00:07:43.385>structure <00:07:43.664>defined

182
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<00:07:43.925>that <00:07:44.275>actually <00:07:44.625>our <00:07:44.975>data <00:07:45.325>structure

183
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<00:07:45.695>where <00:07:45.835>we <00:07:45.974>say <00:07:46.115>we <00:07:46.255>have <00:07:46.395>a <00:07:46.534>delivery <00:07:46.675>id, <00:07:46.815>a <00:07:46.955>good <00:07:47.094>id,

184
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<00:07:48.825>we <00:07:48.980>store <00:07:49.136>a <00:07:49.291>status <00:07:49.447>and <00:07:49.602>we <00:07:49.758>also <00:07:49.913>store <00:07:50.069>the <00:07:50.224>sender

185
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<00:07:51.485>and <00:07:51.758>the <00:07:52.032>timestamp <00:07:52.305>it <00:07:52.579>was <00:07:52.853>received.

186
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<00:07:54.265>We <00:07:54.584>also <00:07:54.904>define <00:07:55.223>an <00:07:55.543>event.

187
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<00:07:55.784>So <00:07:55.912>each <00:07:56.039>time <00:07:56.166>a <00:07:56.294>new <00:07:56.421>item <00:07:56.548>has <00:07:56.675>been <00:07:56.803>stored <00:07:56.930>on <00:07:57.057>the <00:07:57.184>blockchain,

188
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<00:07:58.905>we <00:07:59.167>will <00:07:59.430>actually <00:07:59.693>emit <00:07:59.956>an <00:08:00.219>event

189
00:08:00.465 --> 00:08:02.885
<00:08:00.465>and <00:08:00.640>anyone <00:08:00.815>that <00:08:00.989>wants <00:08:01.164>to <00:08:01.340>know <00:08:01.515>about <00:08:01.690>these <00:08:01.864>updates,

190
00:08:02.885 --> 00:08:04.845
<00:08:02.885>they <00:08:03.164>can <00:08:03.445>subscribe <00:08:03.724>to <00:08:04.005>the <00:08:04.284>updates.

191
00:08:05.865 --> 00:08:07.325
<00:08:05.865>If <00:08:06.084>we <00:08:06.303>then <00:08:06.522>take <00:08:06.741>a <00:08:06.960>further <00:08:07.179>look,

192
00:08:07.425 --> 00:08:09.165
<00:08:07.425>we <00:08:07.705>have <00:08:07.985>the <00:08:08.265>submit <00:08:08.545>update <00:08:08.825>function.

193
00:08:09.585 --> 00:08:11.725
<00:08:09.585>So <00:08:09.864>this <00:08:10.145>one <00:08:10.424>is <00:08:10.705>actually <00:08:10.984>responsible

194
00:08:11.725 --> 00:08:13.685
<00:08:11.725>for <00:08:11.958>writing <00:08:12.191>the <00:08:12.425>data <00:08:12.658>to <00:08:12.891>the <00:08:13.125>blockchain.

195
00:08:13.945 --> 00:08:16.725
<00:08:13.945>So <00:08:14.100>it <00:08:14.256>accepts <00:08:14.411>only <00:08:14.567>three <00:08:14.722>parameters <00:08:14.878>is <00:08:15.033>the <00:08:15.189>delivery <00:08:15.344>id,

196
00:08:16.725 --> 00:08:18.245
<00:08:16.725>the <00:08:16.953>good <00:08:17.181>ID, <00:08:17.409>and <00:08:17.637>the <00:08:17.865>new <00:08:18.093>status.

197
00:08:18.745 --> 00:08:20.685
<00:08:18.745>And <00:08:18.945>this <00:08:19.145>will <00:08:19.345>be <00:08:19.545>written <00:08:19.745>to <00:08:19.945>the <00:08:20.145>blockchain.

198
00:08:21.155 --> 00:08:23.285
<00:08:21.155>Once <00:08:21.330>the <00:08:21.505>update <00:08:21.679>has <00:08:21.854>been <00:08:22.030>pushed <00:08:22.205>in <00:08:22.380>the <00:08:22.554>state

199
00:08:23.465 --> 00:08:26.565
<00:08:23.465>of <00:08:23.664>the <00:08:23.864>smart <00:08:24.065>contract, <00:08:24.265>it'll <00:08:24.465>emit <00:08:24.664>an <00:08:24.864>event.

200
00:08:26.665 --> 00:08:30.125
<00:08:26.665>And <00:08:26.820>anyone <00:08:26.976>that <00:08:27.131>wants <00:08:27.287>to <00:08:27.442>stay <00:08:27.598>informed <00:08:27.753>about <00:08:27.909>these <00:08:28.065>updates,

201
00:08:30.125 --> 00:08:31.885
<00:08:30.125>they <00:08:30.405>can <00:08:30.685>subscribe <00:08:30.965>to <00:08:31.245>the <00:08:31.525>updates

202
00:08:31.905 --> 00:08:34.325
<00:08:31.905>and <00:08:32.079>they <00:08:32.255>can <00:08:32.429>keep <00:08:32.605>their <00:08:32.780>local <00:08:32.954>databases <00:08:33.130>in <00:08:33.304>sync

203
00:08:34.325 --> 00:08:36.925
<00:08:34.325>because <00:08:34.480>they <00:08:34.636>can <00:08:34.791>pull <00:08:34.947>the <00:08:35.102>data <00:08:35.258>from <00:08:35.413>the <00:08:35.569>blockchain <00:08:35.725>again.

204
00:08:38.045 --> 00:08:40.345
<00:08:38.044>And <00:08:38.219>finally, <00:08:38.395>the <00:08:38.569>contract <00:08:38.745>also <00:08:38.919>includes <00:08:39.094>a <00:08:39.270>get <00:08:39.444>update

205
00:08:40.665 --> 00:08:43.945
<00:08:40.664>function <00:08:40.792>in, <00:08:40.919>in <00:08:41.046>case <00:08:41.174>one <00:08:41.301>of <00:08:41.428>the <00:08:41.555>parties <00:08:41.683>wants <00:08:41.810>to <00:08:41.937>verify <00:08:42.064>some

206
00:08:43.945 --> 00:08:45.345
<00:08:43.945>of <00:08:44.197>the <00:08:44.449>data <00:08:44.701>in <00:08:44.953>their <00:08:45.205>database,

207
00:08:45.345 --> 00:08:47.945
<00:08:45.345>they're <00:08:45.520>not <00:08:45.695>sure <00:08:45.870>if <00:08:46.045>someone <00:08:46.220>is <00:08:46.395>doing <00:08:46.570>something <00:08:46.745>fraudulent

208
00:08:47.945 --> 00:08:49.025
<00:08:47.945>or <00:08:48.139>they <00:08:48.333>want <00:08:48.528>to <00:08:48.722>check <00:08:48.917>something,

209
00:08:49.025 --> 00:08:51.745
<00:08:49.025>they <00:08:49.180>can <00:08:49.336>retrieve <00:08:49.491>this <00:08:49.647>data <00:08:49.802>proof <00:08:49.958>again <00:08:50.113>from <00:08:50.269>the <00:08:50.425>blockchain

210
00:08:51.965 --> 00:08:54.505
<00:08:51.965>and <00:08:52.120>verify <00:08:52.276>it <00:08:52.431>if <00:08:52.587>it <00:08:52.742>matches <00:08:52.898>with <00:08:53.053>their <00:08:53.209>internal <00:08:53.365>records.

211
00:08:57.165 --> 00:09:01.055
<00:08:57.165>Further, <00:08:57.365>we <00:08:57.564>have <00:08:57.765>the <00:08:57.964>tokenizing <00:08:58.165>simple <00:08:58.365>assets <00:08:58.564>pattern.

212
00:09:01.355 --> 00:09:04.255
<00:09:01.355>So <00:09:01.510>with <00:09:01.666>simple <00:09:01.821>assets, <00:09:01.977>I <00:09:02.132>mean <00:09:02.288>you <00:09:02.443>create <00:09:02.599>an <00:09:02.755>asset,

213
00:09:04.395 --> 00:09:06.215
<00:09:04.395>you <00:09:04.628>transfer <00:09:04.861>the <00:09:05.095>ownership <00:09:05.328>of <00:09:05.561>the <00:09:05.795>asset

214
00:09:06.515 --> 00:09:08.815
<00:09:06.515>and <00:09:06.748>eventually <00:09:06.981>you <00:09:07.215>might <00:09:07.448>delete <00:09:07.681>the <00:09:07.915>asset.

215
00:09:09.275 --> 00:09:12.135
<00:09:09.275>So <00:09:09.449>here <00:09:09.625>I'm <00:09:09.800>speaking <00:09:09.975>about <00:09:10.150>physical <00:09:10.324>goods <00:09:10.500>for <00:09:10.675>example,

216
00:09:12.365 --> 00:09:14.135
<00:09:12.365>that <00:09:12.645>we <00:09:12.925>tokenize <00:09:13.205>on <00:09:13.485>the <00:09:13.765>chain.

217
00:09:14.275 --> 00:09:15.975
<00:09:14.275>We <00:09:14.508>call <00:09:14.741>this <00:09:14.975>actually <00:09:15.208>a <00:09:15.441>digital <00:09:15.675>twin.

218
00:09:16.275 --> 00:09:17.975
<00:09:16.275>So <00:09:16.508>we <00:09:16.741>get <00:09:16.975>like <00:09:17.208>a <00:09:17.441>digital <00:09:17.675>token

219
00:09:17.975 --> 00:09:20.135
<00:09:17.975>that <00:09:18.208>re <00:09:18.441>represents <00:09:18.675>the <00:09:18.908>real <00:09:19.141>world <00:09:19.375>assets

220
00:09:20.475 --> 00:09:23.135
<00:09:20.475>and <00:09:20.675>we <00:09:20.875>can <00:09:21.075>start <00:09:21.275>trading <00:09:21.475>these <00:09:21.675>digital <00:09:21.875>tokens.

221
00:09:23.135 --> 00:09:24.775
<00:09:23.135>So <00:09:23.368>for <00:09:23.601>example, <00:09:23.835>this <00:09:24.068>is <00:09:24.301>very <00:09:24.535>useful

222
00:09:25.115 --> 00:09:27.335
<00:09:25.115>for <00:09:25.290>a <00:09:25.465>gold <00:09:25.640>bar <00:09:25.815>that <00:09:25.990>you <00:09:26.165>want <00:09:26.340>to <00:09:26.515>trade.

223
00:09:27.845 --> 00:09:30.335
<00:09:27.845>Instead <00:09:28.000>of <00:09:28.156>shipping <00:09:28.311>the <00:09:28.467>gold <00:09:28.622>bar <00:09:28.778>all <00:09:28.933>across <00:09:29.089>the <00:09:29.245>world,

224
00:09:30.795 --> 00:09:33.175
<00:09:30.795>we <00:09:30.935>can <00:09:31.074>just <00:09:31.214>leave <00:09:31.354>the <00:09:31.495>gold <00:09:31.635>bar <00:09:31.775>in <00:09:31.915>a <00:09:32.055>secure <00:09:32.194>vault

225
00:09:33.475 --> 00:09:35.095
<00:09:33.475>and <00:09:33.708>we <00:09:33.941>can <00:09:34.175>start <00:09:34.408>trading <00:09:34.641>the <00:09:34.875>token.

226
00:09:35.355 --> 00:09:39.095
<00:09:35.355>And <00:09:35.471>what <00:09:35.588>we <00:09:35.705>also <00:09:35.821>get <00:09:35.938>is <00:09:36.055>you <00:09:36.171>get <00:09:36.288>like <00:09:36.405>a <00:09:36.521>proof <00:09:36.638>of <00:09:36.755>ownership,

227
00:09:39.095 --> 00:09:40.295
<00:09:39.095>like <00:09:39.365>a <00:09:39.635>trail <00:09:39.905>of <00:09:40.175>history

228
00:09:40.475 --> 00:09:42.175
<00:09:40.475>who <00:09:40.630>has <00:09:40.786>been <00:09:40.941>the <00:09:41.097>owner <00:09:41.252>of <00:09:41.408>a <00:09:41.563>piece <00:09:41.719>of <00:09:41.875>art.

229
00:09:42.175 --> 00:09:44.415
<00:09:42.175>This <00:09:42.330>can <00:09:42.486>be <00:09:42.641>very, <00:09:42.797>uh, <00:09:42.952>for <00:09:43.108>a <00:09:43.263>piece <00:09:43.419>of <00:09:43.574>gold.

230
00:09:44.415 --> 00:09:46.975
<00:09:44.415>And <00:09:44.531>this <00:09:44.648>can <00:09:44.765>be <00:09:44.881>very <00:09:44.998>useful <00:09:45.115>for <00:09:45.231>a <00:09:45.348>piece <00:09:45.464>of <00:09:45.581>art <00:09:45.698>as <00:09:45.814>well.

231
00:09:46.995 --> 00:09:49.495
<00:09:46.995>So <00:09:47.150>you <00:09:47.306>can <00:09:47.461>clearly <00:09:47.617>see <00:09:47.772>who <00:09:47.928>has <00:09:48.083>been <00:09:48.239>the <00:09:48.395>owner

232
00:09:49.495 --> 00:09:50.775
<00:09:49.495>of <00:09:49.783>this <00:09:50.071>piece <00:09:50.359>of <00:09:50.646>art.

233
00:09:53.315 --> 00:09:54.655
<00:09:53.315>So <00:09:53.516>if <00:09:53.717>you <00:09:53.918>look <00:09:54.119>at <00:09:54.319>the <00:09:54.521>benefits,

234
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<00:09:54.915>if <00:09:55.115>we <00:09:55.314>start <00:09:55.515>using <00:09:55.714>a <00:09:55.915>blockchain <00:09:56.115>for <00:09:56.314>like

235
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<00:09:58.135>bringing <00:09:58.335>all <00:09:58.535>these <00:09:58.735>assets <00:09:58.935>on <00:09:59.135>the <00:09:59.335>chain, <00:09:59.535>you

236
00:10:00.775 --> 00:10:03.175
<00:10:00.775>actually <00:10:00.915>get <00:10:01.055>like <00:10:01.194>a <00:10:01.334>unified <00:10:01.475>ledger <00:10:01.615>for <00:10:01.755>all <00:10:01.895>of <00:10:02.035>your <00:10:02.175>assets.

237
00:10:03.205 --> 00:10:05.095
<00:10:03.205>They <00:10:03.405>can <00:10:03.605>all <00:10:03.805>start <00:10:04.005>interacting <00:10:04.205>with <00:10:04.405>each <00:10:04.605>other

238
00:10:05.315 --> 00:10:06.895
<00:10:05.315>and <00:10:05.595>it <00:10:05.875>allows <00:10:06.155>also <00:10:06.435>other <00:10:06.715>people

239
00:10:06.915 --> 00:10:08.815
<00:10:06.915>to <00:10:07.194>start <00:10:07.474>building <00:10:07.755>applications <00:10:08.035>on <00:10:08.314>top

240
00:10:08.955 --> 00:10:10.615
<00:10:08.955>of <00:10:09.235>the <00:10:09.515>assets <00:10:09.795>you <00:10:10.075>have <00:10:10.355>digitized.

241
00:10:10.635 --> 00:10:12.575
<00:10:10.635>So <00:10:10.868>it <00:10:11.101>becomes <00:10:11.335>like <00:10:11.568>an <00:10:11.801>open <00:10:12.035>system

242
00:10:12.575 --> 00:10:15.415
<00:10:12.575>where <00:10:12.715>anyone <00:10:12.855>can <00:10:12.995>build <00:10:13.135>on <00:10:13.275>top <00:10:13.415>of <00:10:13.555>the <00:10:13.695>assets <00:10:13.835>you've <00:10:13.975>created.

243
00:10:15.515 --> 00:10:18.655
<00:10:15.515>So <00:10:15.689>for <00:10:15.865>example, <00:10:16.040>you've <00:10:16.215>just <00:10:16.390>tokenized <00:10:16.564>the <00:10:16.740>gold <00:10:16.915>bars

244
00:10:18.675 --> 00:10:20.615
<00:10:18.675>or <00:10:18.908>tokenized <00:10:19.141>an <00:10:19.375>ETF <00:10:19.608>or <00:10:19.841>a <00:10:20.074>stock

245
00:10:20.955 --> 00:10:23.935
<00:10:20.955>and <00:10:21.130>anyone <00:10:21.305>else <00:10:21.480>can <00:10:21.655>like <00:10:21.830>just <00:10:22.005>build <00:10:22.180>an <00:10:22.355>application.

246
00:10:24.435 --> 00:10:26.295
<00:10:24.435>You <00:10:24.668>understand <00:10:24.901>the <00:10:25.135>protocol <00:10:25.368>that <00:10:25.601>we <00:10:25.834>use,

247
00:10:26.395 --> 00:10:29.975
<00:10:26.395>and <00:10:26.550>you <00:10:26.706>can <00:10:26.861>build <00:10:27.017>interactions <00:10:27.172>that <00:10:27.328>use <00:10:27.483>these <00:10:27.639>gold <00:10:27.795>assets.

248
00:10:30.135 --> 00:10:32.495
<00:10:30.135>You <00:10:30.290>can <00:10:30.446>create <00:10:30.601>like <00:10:30.757>a <00:10:30.912>marketplace <00:10:31.068>of <00:10:31.223>all <00:10:31.379>other <00:10:31.535>kinds

249
00:10:32.495 --> 00:10:33.975
<00:10:32.495>of <00:10:32.717>things <00:10:32.939>on <00:10:33.161>top <00:10:33.383>of <00:10:33.605>your <00:10:33.827>assets.

250
00:10:35.535 --> 00:10:37.815
<00:10:35.535>Additionally, <00:10:35.768>we <00:10:36.001>can <00:10:36.235>also <00:10:36.468>start <00:10:36.701>fractionalizing <00:10:36.935>assets.

251
00:10:38.275 --> 00:10:42.175
<00:10:38.275>So <00:10:38.415>instead <00:10:38.555>of <00:10:38.694>buying <00:10:38.834>one <00:10:38.975>piece <00:10:39.115>of <00:10:39.255>art, <00:10:39.395>so <00:10:39.535>for <00:10:39.675>example,

252
00:10:42.205 --> 00:10:44.415
<00:10:42.205>this <00:10:42.405>one <00:10:42.605>piece <00:10:42.805>of <00:10:43.005>art <00:10:43.205>costs <00:10:43.405>like <00:10:43.605>$10,000,

253
00:10:44.915 --> 00:10:46.935
<00:10:44.915>we <00:10:45.148>might <00:10:45.381>say <00:10:45.615>we <00:10:45.848>create <00:10:46.081>100 <00:10:46.314>shares.

254
00:10:47.365 --> 00:10:49.375
<00:10:47.365>Each <00:10:47.645>share <00:10:47.925>is <00:10:48.205>worth <00:10:48.485>100 <00:10:48.765>euros.

255
00:10:49.795 --> 00:10:51.935
<00:10:49.795>And <00:10:49.995>instead <00:10:50.194>of <00:10:50.395>one <00:10:50.594>person <00:10:50.795>buying <00:10:50.995>this <00:10:51.194>asset,

256
00:10:52.115 --> 00:10:54.975
<00:10:52.115>now <00:10:52.270>100 <00:10:52.426>people <00:10:52.581>can <00:10:52.737>invest <00:10:52.892>in <00:10:53.048>this <00:10:53.203>piece <00:10:53.359>of <00:10:53.515>art.

257
00:10:55.075 --> 00:10:58.255
<00:10:55.075>So <00:10:55.250>you <00:10:55.425>get <00:10:55.600>like <00:10:55.775>a <00:10:55.950>fractionalization <00:10:56.125>of <00:10:56.300>the <00:10:56.475>ownership

258
00:10:58.675 --> 00:11:03.375
<00:10:58.675>and <00:10:58.802>in <00:10:58.929>case <00:10:59.056>someone <00:10:59.184>wants <00:10:59.311>to <00:10:59.438>sell <00:10:59.565>their <00:10:59.693>share <00:10:59.820>in <00:10:59.947>this <00:11:00.074>piece

259
00:11:03.375 --> 00:11:04.375
<00:11:03.375>of <00:11:03.555>art, <00:11:03.735>they <00:11:03.915>can <00:11:04.095>do <00:11:04.275>this.

260
00:11:04.375 --> 00:11:06.255
<00:11:04.375>They <00:11:04.550>can <00:11:04.725>just <00:11:04.900>sell <00:11:05.075>one <00:11:05.250>share <00:11:05.425>to <00:11:05.600>someone <00:11:05.775>else,

261
00:11:06.435 --> 00:11:08.975
<00:11:06.435>and <00:11:06.635>this <00:11:06.834>new <00:11:07.035>person <00:11:07.234>becomes <00:11:07.435>the <00:11:07.635>one <00:11:07.834>100

262
00:11:09.065 --> 00:11:10.775
<00:11:09.065>owner <00:11:09.345>of <00:11:09.625>this <00:11:09.905>piece <00:11:10.185>of <00:11:10.465>art.

263
00:11:10.795 --> 00:11:13.895
<00:11:10.795>So <00:11:10.969>it <00:11:11.145>allows <00:11:11.319>big <00:11:11.495>assets <00:11:11.670>to <00:11:11.844>become <00:11:12.020>more <00:11:12.194>manageable

264
00:11:13.915 --> 00:11:15.015
<00:11:13.915>and <00:11:14.245>easier <00:11:14.574>to <00:11:14.905>trade.

265
00:11:16.435 --> 00:11:18.455
<00:11:16.435>Um, <00:11:16.785>further <00:11:17.135>you <00:11:17.484>get <00:11:17.834>interoperability

266
00:11:18.455 --> 00:11:20.575
<00:11:18.455>because <00:11:18.655>all <00:11:18.855>these <00:11:19.055>assets <00:11:19.255>use <00:11:19.455>the <00:11:19.655>same <00:11:19.855>protocol

267
00:11:20.575 --> 00:11:21.735
<00:11:20.575>so <00:11:20.749>they <00:11:20.923>can <00:11:21.097>interact <00:11:21.271>with <00:11:21.445>each <00:11:21.619>other.

268
00:11:22.115 --> 00:11:25.375
<00:11:22.115>And <00:11:22.255>it <00:11:22.395>allows <00:11:22.535>in <00:11:22.675>general <00:11:22.815>for <00:11:22.955>a <00:11:23.095>lot <00:11:23.235>more <00:11:23.375>auto <00:11:23.515>automatization

269
00:11:25.395 --> 00:11:27.055
<00:11:25.395>and <00:11:25.628>smart <00:11:25.861>feature <00:11:26.095>that <00:11:26.328>you <00:11:26.561>can <00:11:26.795>build.

270
00:11:27.515 --> 00:11:28.695
<00:11:27.515>And <00:11:27.780>finally, <00:11:28.046>as <00:11:28.311>I <00:11:28.577>mentioned,

271
00:11:28.695 --> 00:11:30.375
<00:11:28.695>you <00:11:28.928>get <00:11:29.161>like <00:11:29.395>a <00:11:29.628>transparent <00:11:29.861>audit <00:11:30.095>trail

272
00:11:30.375 --> 00:11:32.775
<00:11:30.375>because <00:11:30.491>you <00:11:30.608>know <00:11:30.725>who <00:11:30.841>has <00:11:30.958>been <00:11:31.075>the <00:11:31.191>owner <00:11:31.308>in <00:11:31.425>the <00:11:31.541>past <00:11:31.658>as <00:11:31.775>well.

273
00:11:34.075 --> 00:11:37.695
<00:11:34.075>So <00:11:34.230>if <00:11:34.386>you <00:11:34.541>take <00:11:34.697>an <00:11:34.852>example <00:11:35.008>from <00:11:35.163>our <00:11:35.319>own <00:11:35.475>SDK,

274
00:11:38.075 --> 00:11:39.815
<00:11:38.075>we <00:11:38.275>actually <00:11:38.475>just <00:11:38.675>have <00:11:38.875>a <00:11:39.075>very <00:11:39.275>simple <00:11:39.475>function

275
00:11:39.815 --> 00:11:41.575
<00:11:39.815>that's <00:11:40.165>called <00:11:40.515>token <00:11:40.865>create <00:11:41.215>transaction.

276
00:11:42.235 --> 00:11:44.815
<00:11:42.235>And <00:11:42.390>you <00:11:42.546>can <00:11:42.701>set <00:11:42.857>a <00:11:43.012>token <00:11:43.168>name, <00:11:43.323>the <00:11:43.479>token <00:11:43.635>symbol,

277
00:11:45.235 --> 00:11:47.015
<00:11:45.235>and <00:11:45.515>you <00:11:45.795>can <00:11:46.075>define <00:11:46.355>the <00:11:46.635>decimals.

278
00:11:47.075 --> 00:11:49.175
<00:11:47.075>So <00:11:47.308>the <00:11:47.541>decimal <00:11:47.775>decimals <00:11:48.008>is <00:11:48.241>actually <00:11:48.475>the

279
00:11:49.375 --> 00:11:50.615
<00:11:49.375>fractionalization <00:11:49.747>that <00:11:50.119>I <00:11:50.491>mentioned.

280
00:11:50.835 --> 00:11:53.365
<00:11:50.835>So <00:11:51.035>two <00:11:51.235>decimals <00:11:51.435>creates <00:11:51.635>like <00:11:51.835>a <00:11:52.035>a <00:11:52.235>comma

281
00:11:53.365 --> 00:11:55.165
<00:11:53.365>with <00:11:53.645>two <00:11:53.925>zeroes <00:11:54.205>after <00:11:54.485>the <00:11:54.765>comma.

282
00:11:55.425 --> 00:11:58.885
<00:11:55.425>Um, <00:11:55.580>so <00:11:55.736>you <00:11:55.891>can <00:11:56.047>create <00:11:56.202>more <00:11:56.358>shares, <00:11:56.513>smaller <00:11:56.669>den <00:11:56.824>denomination

283
00:11:59.425 --> 00:12:01.005
<00:11:59.425>you <00:11:59.704>can <00:11:59.984>set <00:12:00.265>in <00:12:00.545>a <00:12:00.824>supply.

284
00:12:01.145 --> 00:12:04.205
<00:12:01.145>So <00:12:01.285>in <00:12:01.425>this <00:12:01.564>case <00:12:01.704>I <00:12:01.845>set <00:12:01.985>a <00:12:02.125>supply <00:12:02.265>for <00:12:02.405>10,000 <00:12:02.545>tokens

285
00:12:04.625 --> 00:12:07.605
<00:12:04.625>and <00:12:04.752>we <00:12:04.879>can <00:12:05.006>specify <00:12:05.134>if <00:12:05.261>we <00:12:05.388>want <00:12:05.515>a <00:12:05.643>finite <00:12:05.770>or <00:12:05.897>infinite <00:12:06.025>supply.

286
00:12:07.785 --> 00:12:11.045
<00:12:07.785>If <00:12:07.959>you <00:12:08.135>set <00:12:08.310>it <00:12:08.485>to <00:12:08.660>finite, <00:12:08.834>there's, <00:12:09.010>you <00:12:09.185>don't,

287
00:12:11.515 --> 00:12:14.205
<00:12:11.515>there's <00:12:11.670>no <00:12:11.826>possibility <00:12:11.981>to <00:12:12.137>mint <00:12:12.292>more <00:12:12.448>tokens <00:12:12.603>in <00:12:12.759>the <00:12:12.915>future,

288
00:12:14.545 --> 00:12:16.365
<00:12:14.545>but <00:12:14.745>you <00:12:14.944>can <00:12:15.145>also <00:12:15.344>create <00:12:15.545>an <00:12:15.745>infinite <00:12:15.944>supply

289
00:12:16.365 --> 00:12:18.685
<00:12:16.365>so <00:12:16.540>you <00:12:16.715>can <00:12:16.890>get <00:12:17.065>like <00:12:17.240>inflation <00:12:17.415>in <00:12:17.590>your <00:12:17.765>assets

290
00:12:18.685 --> 00:12:21.405
<00:12:18.685>so <00:12:18.840>you <00:12:18.996>can <00:12:19.151>continue <00:12:19.307>minting <00:12:19.462>new <00:12:19.618>tokens <00:12:19.773>for <00:12:19.929>your <00:12:20.084>assets.

291
00:12:22.105 --> 00:12:25.165
<00:12:22.105>Um, <00:12:22.245>and <00:12:22.385>then <00:12:22.525>there's <00:12:22.665>also <00:12:22.805>this <00:12:22.945>concept <00:12:23.085>of <00:12:23.225>a <00:12:23.365>treasury <00:12:23.505>id.

292
00:12:25.465 --> 00:12:28.405
<00:12:25.465>The <00:12:25.620>treasury <00:12:25.776>ID <00:12:25.931>will <00:12:26.087>become <00:12:26.242>the <00:12:26.398>owner <00:12:26.553>of <00:12:26.709>your <00:12:26.865>asset.

293
00:12:29.105 --> 00:12:32.245
<00:12:29.105>So <00:12:29.280>you <00:12:29.455>create <00:12:29.630>10,000 <00:12:29.805>new <00:12:29.980>tokens <00:12:30.155>for <00:12:30.330>your <00:12:30.505>assets

294
00:12:32.425 --> 00:12:34.805
<00:12:32.425>and <00:12:32.625>the <00:12:32.824>treasure <00:12:33.025>ID <00:12:33.224>will <00:12:33.425>actually <00:12:33.625>receive <00:12:33.824>all

295
00:12:34.805 --> 00:12:37.805
<00:12:34.805>of <00:12:35.005>these <00:12:35.204>10 <00:12:35.405>token <00:12:35.604>shares, <00:12:35.805>these <00:12:36.005>10,000 <00:12:36.204>shares.

296
00:12:38.225 --> 00:12:41.595
<00:12:38.225>Oh, <00:12:38.575>oh, <00:12:38.925>okay, <00:12:39.275>we're <00:12:39.625>back.

297
00:12:42.175 --> 00:12:45.675
<00:12:42.175>Um, <00:12:42.349>and <00:12:42.525>this <00:12:42.699>means <00:12:42.875>that <00:12:43.050>you <00:12:43.224>get <00:12:43.400>more <00:12:43.574>control

298
00:12:45.695 --> 00:12:47.595
<00:12:45.695>and <00:12:45.870>in <00:12:46.045>case <00:12:46.220>someone <00:12:46.395>wants <00:12:46.570>to <00:12:46.745>buy <00:12:46.920>your <00:12:47.095>assets,

299
00:12:47.945 --> 00:12:52.035
<00:12:47.945>they <00:12:48.085>can <00:12:48.225>just <00:12:48.365>send <00:12:48.505>um, <00:12:48.645>a <00:12:48.785>transaction <00:12:48.925>paying <00:12:49.065>for <00:12:49.205>the <00:12:49.345>asset.

300
00:12:52.935 --> 00:12:53.995
<00:12:52.935>The <00:12:53.173>screen <00:12:53.411>is <00:12:53.650>gone <00:12:53.889>again,

301
00:13:01.975 --> 00:13:03.115
<00:13:01.975>I'm <00:13:02.180>not <00:13:02.385>sure <00:13:02.590>what <00:13:02.795>happened <00:13:03.001>there.

302
00:13:17.035 --> 00:13:19.425
<00:13:17.035>Weird. <00:13:17.314>Okay, <00:13:17.594>I <00:13:17.875>think <00:13:18.155>we're <00:13:18.435>back.

303
00:13:23.535 --> 00:13:24.865
<00:13:23.535>Okay, <00:13:24.133>no <00:13:24.732>problem.

304
00:13:26.045 --> 00:13:29.705
<00:13:26.045>So <00:13:26.172>the, <00:13:26.299>as <00:13:26.426>I <00:13:26.554>said, <00:13:26.681>the <00:13:26.808>treasury, <00:13:26.935>they <00:13:27.063>can <00:13:27.190>send <00:13:27.317>the <00:13:27.444>asset

305
00:13:29.705 --> 00:13:31.145
<00:13:29.705>to <00:13:29.964>anyone <00:13:30.223>that <00:13:30.482>we <00:13:30.741>want <00:13:31.001>to.

306
00:13:31.925 --> 00:13:34.705
<00:13:31.925>So <00:13:32.125>the <00:13:32.324>next <00:13:32.525>pattern <00:13:32.724>is <00:13:32.925>enforcing <00:13:33.125>asset <00:13:33.324>tools.

307
00:13:34.725 --> 00:13:37.025
<00:13:34.725>So <00:13:34.958>we <00:13:35.191>take <00:13:35.425>the <00:13:35.658>same <00:13:35.891>simple <00:13:36.125>assets

308
00:13:37.325 --> 00:13:39.025
<00:13:37.325>and <00:13:37.525>we <00:13:37.725>add <00:13:37.925>some <00:13:38.125>extra <00:13:38.325>logic <00:13:38.525>to <00:13:38.725>it.

309
00:13:39.165 --> 00:13:40.625
<00:13:39.165>We <00:13:39.427>can <00:13:39.690>add <00:13:39.953>like, <00:13:40.216>for <00:13:40.479>example,

310
00:13:41.015 --> 00:13:43.025
<00:13:41.015>some <00:13:41.295>extra <00:13:41.574>rules <00:13:41.855>like <00:13:42.135>transfer <00:13:42.415>restrictions,

311
00:13:43.085 --> 00:13:46.225
<00:13:43.085>who <00:13:43.240>can <00:13:43.396>receive <00:13:43.551>our <00:13:43.707>assets, <00:13:43.862>we <00:13:44.018>can <00:13:44.173>add <00:13:44.329>time-based <00:13:44.485>rules.

312
00:13:46.245 --> 00:13:49.265
<00:13:46.245>We <00:13:46.385>cannot <00:13:46.525>transfer <00:13:46.665>the <00:13:46.805>assets <00:13:46.945>after <00:13:47.085>a <00:13:47.225>certain <00:13:47.365>point <00:13:47.505>in <00:13:47.645>time.

313
00:13:49.325 --> 00:13:51.625
<00:13:49.325>We <00:13:49.500>say <00:13:49.675>we <00:13:49.850>want <00:13:50.025>to <00:13:50.200>lock <00:13:50.375>up <00:13:50.550>some <00:13:50.725>tokens

314
00:13:51.625 --> 00:13:53.305
<00:13:51.625>or <00:13:51.905>some <00:13:52.185>stock <00:13:52.465>equity, <00:13:52.745>for <00:13:53.025>example,

315
00:13:53.405 --> 00:13:55.105
<00:13:53.405>for <00:13:53.605>at <00:13:53.805>least <00:13:54.005>one <00:13:54.204>month <00:13:54.405>or <00:13:54.605>one <00:13:54.805>year.

316
00:13:55.405 --> 00:13:57.145
<00:13:55.405>We <00:13:55.638>can <00:13:55.871>set <00:13:56.105>like <00:13:56.338>an <00:13:56.571>expiration <00:13:56.805>time

317
00:13:57.145 --> 00:13:58.385
<00:13:57.145>within <00:13:57.516>the <00:13:57.889>smart <00:13:58.261>contract.

318
00:13:59.045 --> 00:14:00.545
<00:13:59.045>We <00:13:59.495>have <00:13:59.944>also <00:14:00.395>examples

319
00:14:00.675 --> 00:14:02.745
<00:14:00.675>where <00:14:00.954>we <00:14:01.234>have <00:14:01.515>like <00:14:01.795>multi-party <00:14:02.074>consent.

320
00:14:03.045 --> 00:14:04.945
<00:14:03.045>For <00:14:03.395>example, <00:14:03.745>a <00:14:04.094>company <00:14:04.444>wants

321
00:14:04.945 --> 00:14:06.905
<00:14:04.945>to <00:14:05.145>make <00:14:05.345>a <00:14:05.545>big <00:14:05.745>investment <00:14:05.945>into <00:14:06.145>another <00:14:06.345>company

322
00:14:07.085 --> 00:14:08.505
<00:14:07.085>and <00:14:07.298>the <00:14:07.511>board <00:14:07.724>has <00:14:07.937>to <00:14:08.150>sign <00:14:08.363>off.

323
00:14:08.845 --> 00:14:11.385
<00:14:08.845>We <00:14:09.195>can <00:14:09.545>build <00:14:09.895>these <00:14:10.245>kind

324
00:14:11.385 --> 00:14:13.705
<00:14:11.385>of <00:14:11.618>signature <00:14:11.851>checks <00:14:12.085>within <00:14:12.318>the <00:14:12.551>smart <00:14:12.785>contract

325
00:14:13.705 --> 00:14:16.465
<00:14:13.705>where <00:14:13.905>everyone <00:14:14.105>has <00:14:14.305>to <00:14:14.505>submit <00:14:14.705>their, <00:14:14.905>their <00:14:15.105>signature

326
00:14:16.925 --> 00:14:20.025
<00:14:16.925>before <00:14:17.099>the <00:14:17.275>transaction <00:14:17.449>will <00:14:17.625>be <00:14:17.800>released <00:14:17.974>to <00:14:18.150>the <00:14:18.324>receiver.

327
00:14:20.605 --> 00:14:22.345
<00:14:20.605>We <00:14:20.885>also <00:14:21.165>have <00:14:21.445>conditional <00:14:21.725>ownership <00:14:22.005>changes.

328
00:14:22.405 --> 00:14:24.545
<00:14:22.405>So <00:14:22.560>only <00:14:22.716>if <00:14:22.871>the <00:14:23.027>right <00:14:23.182>payment <00:14:23.338>amount <00:14:23.493>has <00:14:23.649>been <00:14:23.805>sent,

329
00:14:24.805 --> 00:14:26.105
<00:14:24.805>the <00:14:25.194>ownership <00:14:25.585>will <00:14:25.975>change

330
00:14:26.125 --> 00:14:27.225
<00:14:26.125>and <00:14:26.323>it <00:14:26.521>allows <00:14:26.719>for <00:14:26.917>a <00:14:27.115>lot

331
00:14:27.225 --> 00:14:29.385
<00:14:27.225>of <00:14:27.425>automatic <00:14:27.625>actions <00:14:27.825>on <00:14:28.025>these <00:14:28.225>kind <00:14:28.425>of <00:14:28.625>events.

332
00:14:31.315 --> 00:14:33.695
<00:14:31.315>So <00:14:31.490>if <00:14:31.665>you <00:14:31.840>take <00:14:32.015>a <00:14:32.190>look <00:14:32.365>at, <00:14:32.540>oh, <00:14:32.715>sorry,

333
00:14:33.695 --> 00:14:35.575
<00:14:33.695>these <00:14:33.928>are <00:14:34.161>still <00:14:34.395>the <00:14:34.628>benefits <00:14:34.861>already <00:14:35.095>explained.

334
00:14:35.715 --> 00:14:37.895
<00:14:35.715>So <00:14:35.870>if <00:14:36.026>you <00:14:36.181>take <00:14:36.337>a <00:14:36.492>look <00:14:36.648>at <00:14:36.803>an <00:14:36.959>example <00:14:37.115>here,

335
00:14:37.895 --> 00:14:39.975
<00:14:37.895>we <00:14:38.128>have <00:14:38.361>like <00:14:38.595>a <00:14:38.828>restricted <00:14:39.061>transfer, <00:14:39.295>NFT.

336
00:14:40.005 --> 00:14:42.695
<00:14:40.005>This <00:14:40.205>NFT <00:14:40.405>can <00:14:40.605>only <00:14:40.805>be <00:14:41.005>transferred <00:14:41.205>if <00:14:41.405>the

337
00:14:42.725 --> 00:14:43.935
<00:14:42.725>user <00:14:42.997>has <00:14:43.269>the <00:14:43.541>right <00:14:43.814>role.

338
00:14:43.995 --> 00:14:47.495
<00:14:43.995>So <00:14:44.135>in <00:14:44.275>our <00:14:44.415>constructor, <00:14:44.555>we <00:14:44.695>actually <00:14:44.835>say <00:14:44.975>we <00:14:45.115>expect <00:14:45.255>the <00:14:45.395>user

339
00:14:47.495 --> 00:14:48.895
<00:14:47.495>to <00:14:47.810>have <00:14:48.125>the <00:14:48.439>transfer <00:14:48.755>role,

340
00:14:48.895 --> 00:14:51.095
<00:14:48.895>otherwise <00:14:49.175>he <00:14:49.454>can't <00:14:49.735>transfer <00:14:50.015>the <00:14:50.295>transaction.

341
00:14:51.545 --> 00:14:54.125
<00:14:51.545>In <00:14:51.700>this <00:14:51.856>case, <00:14:52.011>I <00:14:52.167>set <00:14:52.322>the <00:14:52.478>admin <00:14:52.633>as <00:14:52.789>the <00:14:52.944>creator

342
00:14:54.145 --> 00:14:56.685
<00:14:54.145>of <00:14:54.345>the <00:14:54.545>smart <00:14:54.745>contract <00:14:54.944>as <00:14:55.145>the <00:14:55.345>transfer <00:14:55.545>role.

343
00:14:57.475 --> 00:14:59.565
<00:14:57.475>Then <00:14:57.630>if <00:14:57.786>you <00:14:57.941>take <00:14:58.097>a <00:14:58.252>bit <00:14:58.408>of <00:14:58.563>a <00:14:58.719>closer <00:14:58.875>look

344
00:14:59.565 --> 00:15:01.725
<00:14:59.565>to <00:14:59.798>the <00:15:00.031>transfer <00:15:00.265>function, <00:15:00.498>you <00:15:00.731>can <00:15:00.965>see

345
00:15:01.955 --> 00:15:05.125
<00:15:01.955>that <00:15:02.110>we <00:15:02.266>have <00:15:02.421>the <00:15:02.577>Hess <00:15:02.732>role <00:15:02.888>and <00:15:03.043>the <00:15:03.199>required <00:15:03.355>function.

346
00:15:05.185 --> 00:15:09.325
<00:15:05.185>So <00:15:05.312>only <00:15:05.439>if <00:15:05.566>the <00:15:05.694>condition <00:15:05.821>has <00:15:05.948>been <00:15:06.075>met <00:15:06.203>where <00:15:06.330>the, <00:15:06.457>the <00:15:06.584>person

347
00:15:09.475 --> 00:15:12.925
<00:15:09.475>that <00:15:09.650>is <00:15:09.825>sending <00:15:10.000>this <00:15:10.175>transaction <00:15:10.350>has <00:15:10.525>the <00:15:10.700>correct <00:15:10.875>transfer

348
00:15:12.925 --> 00:15:15.765
<00:15:12.925>role, <00:15:13.099>then <00:15:13.275>we <00:15:13.449>will <00:15:13.625>actually <00:15:13.800>execute <00:15:13.974>the <00:15:14.150>transfer <00:15:14.324>function,

349
00:15:15.765 --> 00:15:17.525
<00:15:15.765>otherwise <00:15:16.115>it'll <00:15:16.465>throw <00:15:16.814>an <00:15:17.165>error.

350
00:15:18.955 --> 00:15:21.325
<00:15:18.955>Another <00:15:19.188>example <00:15:19.421>here <00:15:19.655>is <00:15:19.888>the <00:15:20.121>conditional <00:15:20.355>transfer.

351
00:15:21.545 --> 00:15:23.285
<00:15:21.545>So <00:15:21.778>we <00:15:22.011>have <00:15:22.245>a <00:15:22.478>by <00:15:22.711>token <00:15:22.944>function

352
00:15:23.375 --> 00:15:25.165
<00:15:23.375>where <00:15:23.655>we <00:15:23.935>actually <00:15:24.215>require <00:15:24.495>the <00:15:24.775>user

353
00:15:25.385 --> 00:15:27.325
<00:15:25.385>to <00:15:25.585>send <00:15:25.785>the <00:15:25.985>right <00:15:26.185>value <00:15:26.385>for <00:15:26.585>the <00:15:26.785>asset.

354
00:15:27.325 --> 00:15:29.645
<00:15:27.325>So <00:15:27.500>for <00:15:27.675>example, <00:15:27.850>the <00:15:28.025>asset <00:15:28.200>might <00:15:28.375>cost <00:15:28.550>100 <00:15:28.725>euro.

355
00:15:29.985 --> 00:15:33.445
<00:15:29.985>If <00:15:30.112>the <00:15:30.239>user <00:15:30.366>doesn't <00:15:30.494>send <00:15:30.621>the <00:15:30.748>right <00:15:30.875>amount, <00:15:31.003>we <00:15:31.130>throw <00:15:31.257>an <00:15:31.385>error

356
00:15:33.505 --> 00:15:35.765
<00:15:33.505>and <00:15:33.705>the <00:15:33.905>transfer <00:15:34.105>function <00:15:34.305>again <00:15:34.505>won't <00:15:34.705>be <00:15:34.905>called.

357
00:15:35.765 --> 00:15:38.285
<00:15:35.765>So <00:15:35.920>these <00:15:36.076>are <00:15:36.231>all <00:15:36.387>very <00:15:36.542>simple <00:15:36.698>examples <00:15:36.853>in <00:15:37.009>this <00:15:37.165>case

358
00:15:38.625 --> 00:15:42.005
<00:15:38.625>of <00:15:38.905>like <00:15:39.185>conditional <00:15:39.465>changes, <00:15:39.745>conditional <00:15:40.025>rules

359
00:15:42.005 --> 00:15:44.005
<00:15:42.005>that <00:15:42.205>you <00:15:42.405>can <00:15:42.605>build <00:15:42.805>into <00:15:43.005>your <00:15:43.205>smart <00:15:43.405>contracts

360
00:15:44.705 --> 00:15:48.445
<00:15:44.705>and <00:15:44.860>they <00:15:45.016>allow <00:15:45.171>you <00:15:45.327>to <00:15:45.482>mimic <00:15:45.638>basically <00:15:45.793>your <00:15:45.949>business <00:15:46.105>logic.

361
00:15:49.425 --> 00:15:51.805
<00:15:49.425>So <00:15:49.599>how <00:15:49.775>do <00:15:49.949>we <00:15:50.125>now <00:15:50.300>integrate <00:15:50.474>all <00:15:50.650>of <00:15:50.824>these

362
00:15:52.995 --> 00:15:55.315
<00:15:52.995>patterns <00:15:53.345>into <00:15:53.695>our <00:15:54.045>existing <00:15:54.395>architecture?

363
00:15:55.655 --> 00:15:58.315
<00:15:55.655>So <00:15:55.855>for <00:15:56.055>example, <00:15:56.255>we <00:15:56.454>have <00:15:56.655>a <00:15:56.855>microservices <00:15:57.055>architecture

364
00:15:58.775 --> 00:16:01.675
<00:15:58.775>and <00:15:58.902>the <00:15:59.029>best <00:15:59.156>idea <00:15:59.284>here <00:15:59.411>is <00:15:59.538>you, <00:15:59.665>you <00:15:59.793>just <00:15:59.920>isolate <00:16:00.047>the <00:16:00.175>logic

365
00:16:01.675 --> 00:16:03.915
<00:16:01.675>and <00:16:01.875>that's <00:16:02.074>also <00:16:02.275>the <00:16:02.474>case <00:16:02.675>for <00:16:02.875>blockchain <00:16:03.074>interactions.

366
00:16:04.375 --> 00:16:06.475
<00:16:04.375>So <00:16:04.608>you <00:16:04.841>might <00:16:05.075>have <00:16:05.308>a <00:16:05.541>tokenization <00:16:05.775>service

367
00:16:06.545 --> 00:16:08.475
<00:16:06.545>that <00:16:06.745>can <00:16:06.944>be <00:16:07.145>called <00:16:07.344>by <00:16:07.545>any <00:16:07.745>other <00:16:07.944>service.

368
00:16:08.615 --> 00:16:11.195
<00:16:08.615>For <00:16:08.815>example, <00:16:09.015>the <00:16:09.215>inventory <00:16:09.415>service <00:16:09.615>might <00:16:09.815>create <00:16:10.015>like

369
00:16:11.235 --> 00:16:12.315
<00:16:11.235>a <00:16:11.429>new <00:16:11.623>good <00:16:11.818>in <00:16:12.012>their <00:16:12.207>system.

370
00:16:12.545 --> 00:16:14.355
<00:16:12.545>They <00:16:12.824>will <00:16:13.104>call <00:16:13.385>the <00:16:13.665>tokenization <00:16:13.944>service

371
00:16:14.495 --> 00:16:17.035
<00:16:14.495>and <00:16:14.650>this <00:16:14.806>service <00:16:14.961>will <00:16:15.117>create <00:16:15.272>the <00:16:15.428>new <00:16:15.583>asset <00:16:15.739>on <00:16:15.895>the

372
00:16:17.035 --> 00:16:19.705
<00:16:17.035>blockchain, <00:16:17.268>you <00:16:17.501>also <00:16:17.735>have <00:16:17.968>the <00:16:18.201>notary <00:16:18.435>service.

373
00:16:20.405 --> 00:16:22.545
<00:16:20.405>If <00:16:20.545>you <00:16:20.685>take <00:16:20.824>a <00:16:20.964>look <00:16:21.105>at <00:16:21.245>the <00:16:21.385>interface <00:16:21.525>of <00:16:21.665>this <00:16:21.805>service,

374
00:16:23.005 --> 00:16:27.025
<00:16:23.005>you <00:16:23.132>have <00:16:23.259>a <00:16:23.386>verify <00:16:23.514>hash <00:16:23.641>function <00:16:23.768>that <00:16:23.895>can <00:16:24.023>like <00:16:24.150>verify <00:16:24.277>if, <00:16:24.405>uh,

375
00:16:27.045 --> 00:16:29.185
<00:16:27.045>if <00:16:27.245>the <00:16:27.444>hash <00:16:27.645>actually <00:16:27.844>exists <00:16:28.045>on <00:16:28.245>the <00:16:28.444>blockchain.

376
00:16:29.405 --> 00:16:32.585
<00:16:29.405>We <00:16:29.521>have <00:16:29.638>a <00:16:29.755>safe <00:16:29.871>record <00:16:29.988>function, <00:16:30.105>so <00:16:30.221>you <00:16:30.338>can <00:16:30.454>give <00:16:30.571>it <00:16:30.688>the <00:16:30.805>hash

377
00:16:32.815 --> 00:16:35.265
<00:16:32.815>that <00:16:32.942>you <00:16:33.069>have <00:16:33.196>from <00:16:33.324>the <00:16:33.451>data <00:16:33.578>and <00:16:33.705>store <00:16:33.833>it <00:16:33.960>in <00:16:34.087>the <00:16:34.215>blockchain.

378
00:16:35.265 --> 00:16:37.665
<00:16:35.265>And <00:16:35.420>there's <00:16:35.576>also <00:16:35.731>get <00:16:35.887>record <00:16:36.042>function <00:16:36.198>to <00:16:36.353>retrieve <00:16:36.509>the <00:16:36.665>data.

379
00:16:37.675 --> 00:16:41.065
<00:16:37.675>Again, <00:16:37.814>as <00:16:37.954>you <00:16:38.094>can <00:16:38.234>see, <00:16:38.375>these <00:16:38.515>are <00:16:38.655>like <00:16:38.795>very <00:16:38.935>simple <00:16:39.074>services.

380
00:16:41.365 --> 00:16:43.105
<00:16:41.365>You <00:16:41.598>don't <00:16:41.831>need <00:16:42.065>to <00:16:42.298>know <00:16:42.531>a <00:16:42.765>lot

381
00:16:43.105 --> 00:16:44.865
<00:16:43.105>of <00:16:43.338>you <00:16:43.571>don't <00:16:43.805>have <00:16:44.038>a <00:16:44.271>big <00:16:44.505>interface.

382
00:16:44.925 --> 00:16:47.705
<00:16:44.925>The <00:16:45.064>service <00:16:45.204>itself <00:16:45.344>is <00:16:45.484>very <00:16:45.625>simple <00:16:45.765>and <00:16:45.905>you <00:16:46.045>can <00:16:46.185>just <00:16:46.324>plug

383
00:16:47.705 --> 00:16:50.145
<00:16:47.705>and <00:16:47.938>play <00:16:48.171>it <00:16:48.405>into <00:16:48.638>your <00:16:48.871>existing <00:16:49.105>architecture.

384
00:16:50.565 --> 00:16:51.825
<00:16:50.565>And <00:16:50.791>the <00:16:51.018>same <00:16:51.245>is <00:16:51.472>actually <00:16:51.699>true

385
00:16:51.965 --> 00:16:53.585
<00:16:51.965>for <00:16:52.245>like <00:16:52.525>an <00:16:52.805>event <00:16:53.085>driven <00:16:53.365>system.

386
00:16:54.285 --> 00:16:57.685
<00:16:54.285>So <00:16:54.459>for <00:16:54.635>event, <00:16:54.810>event <00:16:54.985>driven <00:16:55.160>systems, <00:16:55.334>they <00:16:55.510>all <00:16:55.685>communicate

387
00:16:57.685 --> 00:16:58.685
<00:16:57.685>to <00:16:57.864>these <00:16:58.045>events <00:16:58.224>with <00:16:58.405>each <00:16:58.584>other

388
00:16:59.105 --> 00:17:01.605
<00:16:59.105>and <00:16:59.260>we <00:16:59.416>can <00:16:59.571>actually <00:16:59.727>have, <00:16:59.882>like, <00:17:00.038>usually <00:17:00.193>you <00:17:00.349>would <00:17:00.505>write

389
00:17:01.605 --> 00:17:04.965
<00:17:01.605>to <00:17:01.732>a <00:17:01.859>database, <00:17:01.986>but <00:17:02.114>now <00:17:02.241>we <00:17:02.368>can <00:17:02.495>also <00:17:02.623>have, <00:17:02.750>uh, <00:17:02.877>a <00:17:03.005>function

390
00:17:05.155 --> 00:17:06.405
<00:17:05.155>that <00:17:05.436>writes <00:17:05.717>to <00:17:05.998>the <00:17:06.280>blockchain.

391
00:17:06.465 --> 00:17:09.565
<00:17:06.464>So <00:17:06.639>the <00:17:06.814>blockchain <00:17:06.990>service <00:17:07.165>can <00:17:07.339>start <00:17:07.514>consuming <00:17:07.689>these <00:17:07.865>events,

392
00:17:09.855 --> 00:17:11.325
<00:17:09.855>write <00:17:10.185>updates <00:17:10.516>to <00:17:10.847>the <00:17:11.178>blockchain.

393
00:17:11.385 --> 00:17:13.125
<00:17:11.385>But <00:17:11.585>the <00:17:11.785>big <00:17:11.984>benefit <00:17:12.185>we <00:17:12.385>also <00:17:12.585>get <00:17:12.785>is

394
00:17:13.125 --> 00:17:15.765
<00:17:13.125>that <00:17:13.280>we <00:17:13.436>can <00:17:13.591>also <00:17:13.747>start <00:17:13.902>consuming <00:17:14.058>events <00:17:14.213>from <00:17:14.369>the <00:17:14.525>blockchain.

395
00:17:15.765 --> 00:17:17.245
<00:17:15.765>It <00:17:16.098>can <00:17:16.431>start <00:17:16.763>push <00:17:17.097>updates

396
00:17:17.305 --> 00:17:20.725
<00:17:17.305>or <00:17:17.480>like <00:17:17.655>changes <00:17:17.830>in <00:17:18.005>smart <00:17:18.180>contract <00:17:18.355>updates <00:17:18.530>again <00:17:18.705>to,

397
00:17:20.985 --> 00:17:23.525
<00:17:20.984>to <00:17:21.159>EventBus <00:17:21.334>and <00:17:21.510>other <00:17:21.685>server <00:17:21.859>can <00:17:22.034>interact <00:17:22.209>with <00:17:22.385>it.

398
00:17:23.525 --> 00:17:26.165
<00:17:23.525>For <00:17:23.665>example, <00:17:23.805>if <00:17:23.945>a <00:17:24.085>status <00:17:24.225>change <00:17:24.365>has <00:17:24.505>been <00:17:24.645>detected <00:17:24.785>in <00:17:24.925>your

399
00:17:26.165 --> 00:17:27.605
<00:17:26.165>smart <00:17:26.489>contract <00:17:26.813>on <00:17:27.137>the <00:17:27.461>blockchain,

400
00:17:27.905 --> 00:17:29.445
<00:17:27.905>the <00:17:28.251>inventory <00:17:28.598>service <00:17:28.944>can <00:17:29.291>like,

401
00:17:29.445 --> 00:17:32.605
<00:17:29.445>or <00:17:29.585>the <00:17:29.725>shipping <00:17:29.865>service <00:17:30.004>can <00:17:30.145>change <00:17:30.284>its <00:17:30.425>local <00:17:30.564>state <00:17:30.705>as <00:17:30.845>well.

402
00:17:35.365 --> 00:17:36.865
<00:17:35.365>So <00:17:35.635>how <00:17:35.905>do <00:17:36.175>we <00:17:36.445>get <00:17:36.715>started

403
00:17:36.865 --> 00:17:39.785
<00:17:36.865>with <00:17:37.145>integrating <00:17:37.425>these <00:17:37.705>blockchain <00:17:37.985>patterns <00:17:38.265>into

404
00:17:39.825 --> 00:17:41.145
<00:17:39.825>our <00:17:40.419>existing <00:17:41.013>architectures?

405
00:17:41.645 --> 00:17:43.305
<00:17:41.645>The <00:17:41.845>first <00:17:42.045>thing <00:17:42.245>that <00:17:42.445>I <00:17:42.645>always <00:17:42.845>recommend <00:17:43.045>is

406
00:17:43.305 --> 00:17:44.785
<00:17:43.305>that <00:17:43.571>you <00:17:43.837>should <00:17:44.104>use <00:17:44.370>familiar <00:17:44.637>tools.

407
00:17:45.565 --> 00:17:48.785
<00:17:45.565>So <00:17:45.765>a <00:17:45.965>lot <00:17:46.165>of <00:17:46.365>blockchains <00:17:46.565>actually <00:17:46.765>offer <00:17:46.965>SDKs

408
00:17:48.785 --> 00:17:52.285
<00:17:48.785>and <00:17:48.925>APIs, <00:17:49.065>which <00:17:49.205>allow <00:17:49.345>you <00:17:49.485>to <00:17:49.625>just <00:17:49.765>use <00:17:49.905>your <00:17:50.045>regular <00:17:50.185>tools

409
00:17:52.285 --> 00:17:54.285
<00:17:52.285>to <00:17:52.565>interact <00:17:52.845>with <00:17:53.125>our <00:17:53.405>blockchain <00:17:53.685>technology.

410
00:17:55.355 --> 00:17:57.045
<00:17:55.355>Further, <00:17:55.821>it's <00:17:56.288>also <00:17:56.755>important

411
00:17:57.145 --> 00:17:58.925
<00:17:57.145>to <00:17:57.378>not <00:17:57.611>start <00:17:57.845>running <00:17:58.078>a <00:17:58.311>full <00:17:58.545>note.

412
00:17:59.045 --> 00:18:01.845
<00:17:59.045>A <00:17:59.200>full <00:17:59.356>note <00:17:59.511>will <00:17:59.667>like <00:17:59.822>clone <00:17:59.978>the <00:18:00.133>whole <00:18:00.289>blockchain <00:18:00.445>data

413
00:18:02.185 --> 00:18:03.325
<00:18:02.185>and <00:18:02.390>it <00:18:02.595>is <00:18:02.800>not <00:18:03.005>always <00:18:03.211>useful

414
00:18:03.325 --> 00:18:05.805
<00:18:03.325>because <00:18:03.500>it <00:18:03.675>adds <00:18:03.850>a <00:18:04.025>lot <00:18:04.200>of <00:18:04.375>overhead <00:18:04.550>maintenance <00:18:04.725>costs

415
00:18:06.105 --> 00:18:08.765
<00:18:06.105>and <00:18:06.260>just <00:18:06.416>you <00:18:06.571>need <00:18:06.727>a <00:18:06.882>bit <00:18:07.038>of <00:18:07.193>extra <00:18:07.349>skill <00:18:07.505>people

416
00:18:08.945 --> 00:18:10.045
<00:18:08.945>to, <00:18:09.275>to <00:18:09.605>manage <00:18:09.935>this.

417
00:18:10.065 --> 00:18:13.085
<00:18:10.065>No, <00:18:10.240>usually <00:18:10.415>you <00:18:10.590>can <00:18:10.765>consume <00:18:10.940>data <00:18:11.115>from <00:18:11.290>a <00:18:11.465>blockchain.

418
00:18:13.085 --> 00:18:15.845
<00:18:13.085>Again, <00:18:13.285>using <00:18:13.485>API <00:18:13.685>gateways <00:18:13.885>where <00:18:14.085>you <00:18:14.285>can <00:18:14.485>subscribe

419
00:18:15.845 --> 00:18:17.125
<00:18:15.845>to <00:18:16.229>very <00:18:16.613>specific <00:18:16.997>events.

420
00:18:17.395 --> 00:18:20.125
<00:18:17.395>When <00:18:17.522>you <00:18:17.649>run <00:18:17.776>a <00:18:17.904>full <00:18:18.031>node, <00:18:18.158>you <00:18:18.285>just <00:18:18.413>get <00:18:18.540>all <00:18:18.667>the <00:18:18.795>data.

421
00:18:20.225 --> 00:18:21.245
<00:18:20.225>You <00:18:20.408>don't <00:18:20.592>need <00:18:20.775>all <00:18:20.959>the <00:18:21.142>data.

422
00:18:21.595 --> 00:18:24.365
<00:18:21.595>It's <00:18:21.735>better <00:18:21.875>to <00:18:22.015>use <00:18:22.155>an <00:18:22.295>API <00:18:22.435>gateway <00:18:22.575>where <00:18:22.715>you <00:18:22.855>can <00:18:22.995>specify

423
00:18:24.665 --> 00:18:27.325
<00:18:24.665>or <00:18:24.820>only <00:18:24.976>want <00:18:25.131>to <00:18:25.287>receive <00:18:25.442>updates <00:18:25.598>for <00:18:25.753>this <00:18:25.909>smart <00:18:26.065>contract

424
00:18:27.505 --> 00:18:29.965
<00:18:27.505>or <00:18:27.645>for <00:18:27.785>this <00:18:27.925>account <00:18:28.065>or <00:18:28.205>for <00:18:28.345>this <00:18:28.485>token <00:18:28.625>that <00:18:28.765>I've <00:18:28.905>created.

425
00:18:30.305 --> 00:18:32.285
<00:18:30.305>So <00:18:30.585>the <00:18:30.865>data <00:18:31.145>also <00:18:31.425>stays <00:18:31.705>lean.

426
00:18:33.535 --> 00:18:36.075
<00:18:33.535>And <00:18:33.735>finally, <00:18:33.935>if <00:18:34.135>you <00:18:34.335>decide <00:18:34.535>to <00:18:34.735>start <00:18:34.935>interacting

427
00:18:36.075 --> 00:18:39.395
<00:18:36.075>with <00:18:36.215>smart <00:18:36.355>contracts, <00:18:36.495>you <00:18:36.635>can <00:18:36.775>just <00:18:36.915>think <00:18:37.055>of <00:18:37.195>a <00:18:37.335>smart <00:18:37.475>contract

428
00:18:39.395 --> 00:18:41.275
<00:18:39.395>as <00:18:39.628>like <00:18:39.861>an <00:18:40.095>API <00:18:40.328>call <00:18:40.561>that's <00:18:40.795>async.

429
00:18:41.275 --> 00:18:43.635
<00:18:41.275>You <00:18:41.450>create, <00:18:41.625>you <00:18:41.800>call <00:18:41.975>the <00:18:42.150>a, <00:18:42.325>the <00:18:42.500>smart <00:18:42.675>contract.

430
00:18:43.945 --> 00:18:46.435
<00:18:43.945>It's <00:18:44.085>just <00:18:44.225>a <00:18:44.365>function <00:18:44.504>that <00:18:44.645>does <00:18:44.784>like <00:18:44.925>a <00:18:45.064>low <00:18:45.205>level <00:18:45.345>call

431
00:18:46.735 --> 00:18:48.275
<00:18:46.735>to <00:18:46.966>the <00:18:47.197>smart <00:18:47.428>contract <00:18:47.659>on <00:18:47.890>the <00:18:48.121>blockchain

432
00:18:48.275 --> 00:18:52.555
<00:18:48.275>and <00:18:48.555>it'll <00:18:48.835>return <00:18:49.115>a <00:18:49.395>result <00:18:49.675>Further.

433
00:18:52.945 --> 00:18:56.355
<00:18:52.945>When <00:18:53.120>you're <00:18:53.294>dealing <00:18:53.470>with <00:18:53.645>a <00:18:53.820>blockchain, <00:18:53.995>you're <00:18:54.169>often <00:18:54.345>faced

434
00:18:56.355 --> 00:18:59.155
<00:18:56.355>with <00:18:56.495>like <00:18:56.635>a <00:18:56.775>two <00:18:56.915>to <00:18:57.055>five <00:18:57.195>second <00:18:57.335>wait, <00:18:57.475>sometimes <00:18:57.615>even <00:18:57.755>longer

435
00:18:59.155 --> 00:19:00.715
<00:18:59.155>before <00:18:59.504>a <00:18:59.855>transaction <00:19:00.205>gets <00:19:00.555>confirmed.

436
00:19:00.815 --> 00:19:02.235
<00:19:00.815>That's <00:19:01.070>the <00:19:01.326>nature <00:19:01.581>of <00:19:01.837>a <00:19:02.092>blockchain.

437
00:19:03.055 --> 00:19:06.075
<00:19:03.055>But <00:19:03.230>usually <00:19:03.405>you <00:19:03.580>would <00:19:03.755>implement <00:19:03.930>like <00:19:04.105>a <00:19:04.280>waiting <00:19:04.455>indicator.

438
00:19:07.065 --> 00:19:08.065
<00:19:07.065>It's <00:19:07.515>happening <00:19:07.965>again.

439
00:19:09.415 --> 00:19:10.675
<00:19:09.415>Ugh. <00:19:10.549>Ah,

440
00:19:10.975 --> 00:19:14.575
<00:19:10.975>you <00:19:11.208>would <00:19:11.441>usually <00:19:11.675>implement <00:19:11.908>a <00:19:12.141>loading <00:19:12.375>indicator.

441
00:19:15.035 --> 00:19:16.975
<00:19:15.035>Um, <00:19:15.210>but <00:19:15.385>this <00:19:15.560>is <00:19:15.735>not <00:19:15.910>always <00:19:16.085>the <00:19:16.260>best <00:19:16.435>interface.

442
00:19:21.145 --> 00:19:22.145
<00:19:21.145>Why <00:19:21.370>is <00:19:21.595>this <00:19:21.820>happening <00:19:22.045>again?

443
00:19:28.065 --> 00:19:30.795
<00:19:28.065>Okay, <00:19:28.298>Um, <00:19:28.531>a <00:19:28.765>better <00:19:28.998>idea <00:19:29.231>here <00:19:29.465>is

444
00:19:30.795 --> 00:19:32.555
<00:19:30.795>to <00:19:31.075>use <00:19:31.355>like <00:19:31.635>an <00:19:31.915>optimistic <00:19:32.195>ui.

445
00:19:32.895 --> 00:19:34.275
<00:19:32.895>Um, <00:19:34.137>okay,

446
00:19:35.555 --> 00:19:36.555
<00:19:35.555>Damn <00:19:36.455>it.

447
00:19:40.755 --> 00:19:42.015
<00:19:40.755>Is <00:19:41.322>this <00:19:41.889>Skip

448
00:19:42.035 --> 00:19:43.035
<00:19:42.035>The <00:19:42.935>adapter?

449
00:19:43.595 --> 00:19:43.815
Uh,

450
00:19:54.045 --> 00:19:54.745
<00:19:54.045>should <00:19:54.675>work?

451
00:20:06.205 --> 00:20:07.205
No,

452
00:20:10.665 --> 00:20:13.765
<00:20:10.665>Uh, <00:20:10.792>I <00:20:10.919>can <00:20:11.046>put <00:20:11.174>it <00:20:11.301>in <00:20:11.428>the <00:20:11.555>full <00:20:11.683>screen <00:20:11.810>mode <00:20:11.937>as <00:20:12.065>well.

453
00:20:16.465 --> 00:20:17.605
<00:20:16.465>Ah, <00:20:17.491>Ah,

454
00:20:23.565 --> 00:20:23.945
<00:20:23.565>Let <00:20:23.907>me,

455
00:20:32.105 --> 00:20:33.845
<00:20:32.105>Uh, <00:20:33.505>okay,

456
00:20:38.635 --> 00:20:40.255
<00:20:38.635>so <00:20:38.868>we <00:20:39.101>run <00:20:39.335>this <00:20:39.568>now <00:20:39.801>from <00:20:40.035>our

457
00:20:40.395 --> 00:20:41.395
<00:20:40.395>Laptop, <00:20:41.295>right?

458
00:20:41.845 --> 00:20:42.845
Okay.

459
00:20:51.465 --> 00:20:53.965
<00:20:51.465>Uh, <00:20:51.620>you <00:20:51.776>know <00:20:51.931>which <00:20:52.087>number <00:20:52.242>you <00:20:52.398>want <00:20:52.553>a <00:20:52.709>presentation? <00:20:52.865>Um,

460
00:20:55.385 --> 00:20:56.685
<00:20:55.385>No, <00:20:55.619>it <00:20:55.853>almost <00:20:56.087>at <00:20:56.321>the <00:20:56.554>end.

461
00:21:15.615 --> 00:21:15.835
Ah,

462
00:21:22.585 --> 00:21:23.915
<00:21:22.585>Yeah, <00:21:22.824>a <00:21:23.063>bit, <00:21:23.303>a <00:21:23.542>bit <00:21:23.782>further.

463
00:21:32.395 --> 00:21:37.105
<00:21:32.395>Uh, <00:21:32.745>ah, <00:21:33.095>but <00:21:33.445>the <00:21:33.795>slide,

464
00:21:37.895 --> 00:21:38.895
<00:21:37.895>Yeah, <00:21:38.345>yeah. <00:21:38.795>Okay,

465
00:21:38.895 --> 00:21:40.545
<00:21:38.895>we're <00:21:39.245>back. <00:21:39.595>Sorry <00:21:39.945>about <00:21:40.295>that.

466
00:21:41.405 --> 00:21:43.865
<00:21:41.405>So <00:21:41.605>when <00:21:41.805>we're <00:21:42.004>designing <00:21:42.205>for <00:21:42.405>user <00:21:42.605>experience, <00:21:42.805>um,

467
00:21:44.565 --> 00:21:46.345
<00:21:44.565>you <00:21:44.720>often <00:21:44.876>have <00:21:45.031>to <00:21:45.187>wait <00:21:45.342>like <00:21:45.498>two <00:21:45.653>to <00:21:45.809>five <00:21:45.965>seconds

468
00:21:46.525 --> 00:21:48.145
<00:21:46.525>for <00:21:46.875>a <00:21:47.225>transaction <00:21:47.575>to <00:21:47.925>confirm.

469
00:21:48.605 --> 00:21:51.225
<00:21:48.605>So <00:21:48.780>usually <00:21:48.955>you <00:21:49.130>would <00:21:49.305>show <00:21:49.480>like <00:21:49.655>a <00:21:49.830>loading <00:21:50.005>indicator,

470
00:21:51.285 --> 00:21:54.225
<00:21:51.285>but <00:21:51.412>in <00:21:51.539>this <00:21:51.666>case <00:21:51.794>it's <00:21:51.921>better <00:21:52.048>to <00:21:52.175>use <00:21:52.303>like <00:21:52.430>an <00:21:52.557>optimistic <00:21:52.685>UI

471
00:21:54.515 --> 00:21:57.185
<00:21:54.515>where <00:21:54.670>you <00:21:54.826>can <00:21:54.981>actually <00:21:55.137>go <00:21:55.292>from <00:21:55.448>like <00:21:55.603>the <00:21:55.759>zero <00:21:55.915>state

472
00:21:57.185 --> 00:21:58.345
<00:21:57.185>to <00:21:57.446>the <00:21:57.706>one <00:21:57.968>state <00:21:58.229>immediately.

473
00:21:58.405 --> 00:22:00.625
<00:21:58.405>You <00:21:58.560>just <00:21:58.716>show <00:21:58.871>the <00:21:59.027>positive <00:21:59.182>result <00:21:59.338>to <00:21:59.493>the <00:21:59.649>end <00:21:59.805>user

474
00:22:00.965 --> 00:22:02.745
<00:22:00.965>and <00:22:01.198>only <00:22:01.431>in <00:22:01.665>case <00:22:01.898>something <00:22:02.131>goes <00:22:02.365>wrong,

475
00:22:03.005 --> 00:22:04.945
<00:22:03.005>you <00:22:03.180>show <00:22:03.355>like <00:22:03.530>the <00:22:03.705>error <00:22:03.880>to <00:22:04.055>the <00:22:04.230>end <00:22:04.405>user.

476
00:22:05.525 --> 00:22:07.425
<00:22:05.525>In <00:22:05.805>theory, <00:22:06.085>the <00:22:06.365>best <00:22:06.645>user <00:22:06.925>experience

477
00:22:07.445 --> 00:22:09.225
<00:22:07.445>for <00:22:07.794>blockchain <00:22:08.145>technology <00:22:08.495>is <00:22:08.845>actually

478
00:22:09.225 --> 00:22:10.465
<00:22:09.225>invisible <00:22:09.504>to <00:22:09.783>the <00:22:10.062>end <00:22:10.341>user.

479
00:22:10.845 --> 00:22:13.905
<00:22:10.845>The <00:22:11.020>end <00:22:11.195>user <00:22:11.370>should <00:22:11.545>not <00:22:11.720>know <00:22:11.895>that <00:22:12.070>it's <00:22:12.245>using

480
00:22:13.925 --> 00:22:15.785
<00:22:13.925>or <00:22:14.274>interacting <00:22:14.625>with <00:22:14.975>blockchain <00:22:15.325>technology.

481
00:22:16.215 --> 00:22:18.305
<00:22:16.215>Usually <00:22:16.415>the <00:22:16.615>benefit <00:22:16.814>is <00:22:17.014>more <00:22:17.215>for <00:22:17.415>the <00:22:17.615>company.

482
00:22:18.445 --> 00:22:21.705
<00:22:18.445>The <00:22:18.620>company <00:22:18.794>gets <00:22:18.970>more <00:22:19.145>data <00:22:19.320>transparency, <00:22:19.495>more <00:22:19.669>data <00:22:19.845>integrity

483
00:22:21.845 --> 00:22:23.025
<00:22:21.845>for <00:22:22.199>their <00:22:22.553>own <00:22:22.907>processes.

484
00:22:23.365 --> 00:22:26.025
<00:22:23.365>For <00:22:23.505>the <00:22:23.645>end <00:22:23.785>user, <00:22:23.925>the <00:22:24.065>benefits <00:22:24.205>are <00:22:24.345>often <00:22:24.485>not <00:22:24.625>that <00:22:24.765>big.

485
00:22:26.245 --> 00:22:29.025
<00:22:26.245>So <00:22:26.385>that's <00:22:26.524>why <00:22:26.665>it's <00:22:26.804>more <00:22:26.945>useful <00:22:27.084>to <00:22:27.225>use <00:22:27.364>an <00:22:27.504>optimistic <00:22:27.645>UI

486
00:22:29.025 --> 00:22:32.865
<00:22:29.025>and <00:22:29.165>not <00:22:29.305>let <00:22:29.445>your <00:22:29.585>user <00:22:29.725>wait <00:22:29.865>for <00:22:30.005>like <00:22:30.145>2.55 <00:22:30.285>seconds <00:22:30.425>overall.

487
00:22:34.125 --> 00:22:35.665
<00:22:34.125>And <00:22:34.471>another <00:22:34.818>important <00:22:35.164>tip <00:22:35.511>is

488
00:22:35.665 --> 00:22:37.985
<00:22:35.665>to <00:22:35.945>use <00:22:36.225>secure <00:22:36.504>key <00:22:36.784>management <00:22:37.065>systems.

489
00:22:38.235 --> 00:22:41.425
<00:22:38.235>Don't <00:22:38.375>expose <00:22:38.514>any <00:22:38.655>kind <00:22:38.794>of <00:22:38.935>private <00:22:39.074>keys <00:22:39.215>to <00:22:39.354>your <00:22:39.495>end <00:22:39.635>user

490
00:22:41.425 --> 00:22:43.825
<00:22:41.425>because <00:22:41.552>they <00:22:41.679>will <00:22:41.806>just, <00:22:41.934>they <00:22:42.061>don't <00:22:42.188>know <00:22:42.315>what <00:22:42.443>to <00:22:42.570>do <00:22:42.697>with <00:22:42.825>it.

491
00:22:43.825 --> 00:22:44.905
<00:22:43.825>They <00:22:44.149>might <00:22:44.473>leak <00:22:44.797>it

492
00:22:44.925 --> 00:22:47.945
<00:22:44.925>and <00:22:45.100>they <00:22:45.274>might <00:22:45.450>lose <00:22:45.625>their <00:22:45.800>funds <00:22:45.975>on <00:22:46.149>their <00:22:46.325>accounts.

493
00:22:47.945 --> 00:22:49.505
<00:22:47.945>So <00:22:48.145>it's <00:22:48.345>not <00:22:48.544>a <00:22:48.745>good <00:22:48.945>practice <00:22:49.145>at <00:22:49.345>all.

494
00:22:50.005 --> 00:22:51.465
<00:22:50.005>And <00:22:50.267>it's <00:22:50.530>also <00:22:50.793>a <00:22:51.056>good <00:22:51.319>practice

495
00:22:51.465 --> 00:22:53.905
<00:22:51.465>to <00:22:51.745>include <00:22:52.024>signing <00:22:52.304>serv, <00:22:52.584>uh, <00:22:52.865>service.

496
00:22:54.325 --> 00:22:55.585
<00:22:54.325>So <00:22:54.551>if <00:22:54.778>you <00:22:55.005>have <00:22:55.232>signing <00:22:55.459>logic

497
00:22:55.645 --> 00:22:57.065
<00:22:55.645>for <00:22:55.900>like <00:22:56.156>transfers <00:22:56.411>on <00:22:56.667>the <00:22:56.923>blockchain,

498
00:22:57.645 --> 00:23:00.745
<00:22:57.645>create <00:22:57.820>it <00:22:57.995>in <00:22:58.170>a <00:22:58.345>dedicated <00:22:58.520>service <00:22:58.695>so <00:22:58.870>anyone <00:22:59.045>so

499
00:23:00.745 --> 00:23:03.785
<00:23:00.745>that <00:23:00.900>you <00:23:01.056>don't <00:23:01.211>have <00:23:01.367>to <00:23:01.522>spread <00:23:01.678>your <00:23:01.833>signing <00:23:01.989>transaction <00:23:02.145>logic

500
00:23:03.965 --> 00:23:05.985
<00:23:03.965>all <00:23:04.431>across <00:23:04.898>different <00:23:05.365>services

501
00:23:05.985 --> 00:23:08.225
<00:23:05.985>because <00:23:06.185>this <00:23:06.385>might <00:23:06.584>create <00:23:06.784>like <00:23:06.985>an <00:23:07.185>attack <00:23:07.385>factor.

502
00:23:10.335 --> 00:23:12.635
<00:23:10.335>And <00:23:10.685>finally, <00:23:11.035>when <00:23:11.385>we're <00:23:11.735>integrating

503
00:23:12.635 --> 00:23:14.275
<00:23:12.635>with <00:23:12.985>blockchain <00:23:13.335>technology, <00:23:13.685>it's <00:23:14.035>important

504
00:23:14.335 --> 00:23:16.755
<00:23:14.335>to <00:23:14.490>just <00:23:14.646>monitor <00:23:14.801>your <00:23:14.957>service <00:23:15.112>just <00:23:15.268>like <00:23:15.423>you <00:23:15.579>would <00:23:15.735>do

505
00:23:16.755 --> 00:23:17.995
<00:23:16.755>with <00:23:16.978>any <00:23:17.201>other <00:23:17.424>kind <00:23:17.647>of <00:23:17.870>service.

506
00:23:18.575 --> 00:23:20.195
<00:23:18.575>For <00:23:18.925>example, <00:23:19.275>start <00:23:19.625>with <00:23:19.975>logging.

507
00:23:20.375 --> 00:23:22.155
<00:23:20.375>All <00:23:20.550>of <00:23:20.725>the <00:23:20.900>transactions <00:23:21.075>you're <00:23:21.250>doing <00:23:21.425>are <00:23:21.600>the <00:23:21.775>blockchain.

508
00:23:22.155 --> 00:23:24.435
<00:23:22.155>Just <00:23:22.330>keep <00:23:22.504>it <00:23:22.680>in <00:23:22.855>your <00:23:23.030>locks <00:23:23.205>in <00:23:23.379>your, <00:23:23.555>uh,

509
00:23:24.655 --> 00:23:26.075
<00:23:24.655>within <00:23:25.081>your <00:23:25.507>logging <00:23:25.933>system.

510
00:23:26.305 --> 00:23:28.675
<00:23:26.305>Further, <00:23:26.585>you <00:23:26.865>can <00:23:27.145>also <00:23:27.425>implement <00:23:27.705>alerting.

511
00:23:28.735 --> 00:23:32.155
<00:23:28.735>So <00:23:28.875>in <00:23:29.014>case <00:23:29.155>the <00:23:29.294>note <00:23:29.435>go <00:23:29.574>goes <00:23:29.715>down <00:23:29.854>on <00:23:29.995>the <00:23:30.135>network

512
00:23:32.255 --> 00:23:34.395
<00:23:32.255>or <00:23:32.535>transaction <00:23:32.815>starts <00:23:33.095>failing, <00:23:33.375>you <00:23:33.655>want

513
00:23:34.395 --> 00:23:37.115
<00:23:34.395>to <00:23:34.550>be <00:23:34.706>notified <00:23:34.861>when <00:23:35.017>these <00:23:35.172>kind <00:23:35.328>of <00:23:35.483>things <00:23:35.639>are <00:23:35.795>starting

514
00:23:37.115 --> 00:23:39.315
<00:23:37.115>to <00:23:37.315>happen <00:23:37.515>because <00:23:37.715>you're <00:23:37.915>not <00:23:38.115>using <00:23:38.315>the <00:23:38.515>benefit

515
00:23:39.335 --> 00:23:40.595
<00:23:39.335>of <00:23:39.618>the <00:23:39.902>data <00:23:40.185>integrity <00:23:40.469>anymore.

516
00:23:40.595 --> 00:23:43.195
<00:23:40.595>It's <00:23:40.750>not <00:23:40.906>a <00:23:41.061>good <00:23:41.217>thing <00:23:41.372>when <00:23:41.528>suddenly <00:23:41.683>like <00:23:41.839>five <00:23:41.995>transactions

517
00:23:43.215 --> 00:23:46.405
<00:23:43.215>are <00:23:43.342>missing <00:23:43.469>from <00:23:43.596>your <00:23:43.724>logs <00:23:43.851>and <00:23:43.978>you <00:23:44.105>have <00:23:44.233>like <00:23:44.360>a <00:23:44.487>broken <00:23:44.615>lock.

518
00:23:46.465 --> 00:23:49.205
<00:23:46.465>So <00:23:46.620>when <00:23:46.776>an <00:23:46.931>auditor <00:23:47.087>comes, <00:23:47.242>this <00:23:47.398>might <00:23:47.553>look <00:23:47.709>very <00:23:47.865>odd.

519
00:23:49.545 --> 00:23:51.165
<00:23:49.545>And <00:23:49.825>finally, <00:23:50.105>it's <00:23:50.385>also <00:23:50.665>very <00:23:50.945>important

520
00:23:51.185 --> 00:23:53.925
<00:23:51.185>to <00:23:51.385>start <00:23:51.585>tracking <00:23:51.784>your <00:23:51.985>data <00:23:52.185>on <00:23:52.385>the <00:23:52.585>blockchain.

521
00:23:53.945 --> 00:23:57.565
<00:23:53.945>So <00:23:54.120>for <00:23:54.294>example, <00:23:54.470>start <00:23:54.645>tracking <00:23:54.820>metrics, <00:23:54.995>uh, <00:23:55.169>for <00:23:55.345>like

522
00:23:57.625 --> 00:23:59.725
<00:23:57.625>how <00:23:57.800>many <00:23:57.975>tokens <00:23:58.150>are <00:23:58.325>being <00:23:58.500>created <00:23:58.675>on <00:23:58.850>the <00:23:59.025>chain.

523
00:24:00.425 --> 00:24:02.205
<00:24:00.425>For <00:24:00.658>example, <00:24:00.891>you <00:24:01.125>might <00:24:01.358>have <00:24:01.591>an <00:24:01.825>attacker

524
00:24:02.205 --> 00:24:04.685
<00:24:02.205>that <00:24:02.360>figured <00:24:02.516>out <00:24:02.671>a <00:24:02.827>way <00:24:02.982>to <00:24:03.138>manipulate <00:24:03.293>your <00:24:03.449>signing <00:24:03.605>logic

525
00:24:04.745 --> 00:24:07.365
<00:24:04.745>and <00:24:04.945>suddenly <00:24:05.145>you're, <00:24:05.344>you're <00:24:05.544>sending <00:24:05.745>like <00:24:05.945>10,000 <00:24:06.145>transactions

526
00:24:07.825 --> 00:24:09.005
<00:24:07.825>per <00:24:08.090>minute <00:24:08.356>to <00:24:08.621>the <00:24:08.887>blockchain.

527
00:24:09.305 --> 00:24:12.245
<00:24:09.305>And <00:24:09.445>this <00:24:09.585>might <00:24:09.725>seem <00:24:09.865>like <00:24:10.005>not <00:24:10.145>that <00:24:10.285>big <00:24:10.425>of <00:24:10.565>a <00:24:10.705>load,

528
00:24:12.245 --> 00:24:14.125
<00:24:12.245>but <00:24:12.478>you're, <00:24:12.711>you're <00:24:12.945>losing <00:24:13.178>money <00:24:13.411>actually <00:24:13.645>every

529
00:24:14.125 --> 00:24:15.285
<00:24:14.125>transaction <00:24:14.473>costs <00:24:14.821>you <00:24:15.169>money.

530
00:24:15.545 --> 00:24:18.285
<00:24:15.545>So <00:24:15.700>also <00:24:15.856>monitor <00:24:16.011>these <00:24:16.167>kind <00:24:16.322>of <00:24:16.478>interactions <00:24:16.633>with <00:24:16.789>a <00:24:16.945>blockchain

531
00:24:18.645 --> 00:24:20.885
<00:24:18.645>'cause <00:24:18.800>you <00:24:18.956>want <00:24:19.111>to <00:24:19.267>know <00:24:19.422>when <00:24:19.578>something <00:24:19.733>is <00:24:19.889>going <00:24:20.045>wrong

532
00:24:20.945 --> 00:24:22.245
<00:24:20.945>or <00:24:21.237>when <00:24:21.530>you're <00:24:21.822>under <00:24:22.114>attack.

533
00:24:23.565 --> 00:24:26.065
<00:24:23.565>So <00:24:23.740>in <00:24:23.915>conclusion, <00:24:24.090>when <00:24:24.265>you <00:24:24.440>want <00:24:24.615>to <00:24:24.790>get <00:24:24.965>started

534
00:24:26.065 --> 00:24:27.105
<00:24:26.065>with <00:24:26.533>blockchain <00:24:27.001>technology

535
00:24:27.105 --> 00:24:30.385
<00:24:27.105>or <00:24:27.280>want <00:24:27.455>to <00:24:27.630>integrate <00:24:27.805>within <00:24:27.980>your <00:24:28.155>web <00:24:28.330>two <00:24:28.505>architecture,

536
00:24:30.575 --> 00:24:33.065
<00:24:30.575>make <00:24:30.775>sure <00:24:30.975>you <00:24:31.175>know <00:24:31.375>why <00:24:31.575>you're <00:24:31.775>integrating <00:24:31.975>it.

537
00:24:33.405 --> 00:24:35.465
<00:24:33.405>One <00:24:33.580>of <00:24:33.754>the <00:24:33.930>main <00:24:34.105>use <00:24:34.280>cases <00:24:34.455>is <00:24:34.629>data <00:24:34.805>integrity.

538
00:24:35.845 --> 00:24:37.385
<00:24:35.845>You <00:24:36.076>want <00:24:36.307>to <00:24:36.538>create <00:24:36.769>a <00:24:37.000>shared <00:24:37.231>truth.

539
00:24:37.405 --> 00:24:39.985
<00:24:37.405>You <00:24:37.580>don't <00:24:37.754>trust <00:24:37.930>the <00:24:38.105>other <00:24:38.280>participants <00:24:38.455>in <00:24:38.629>your <00:24:38.805>ecosystem

540
00:24:39.985 --> 00:24:41.865
<00:24:39.985>or <00:24:40.264>in <00:24:40.544>outside <00:24:40.824>of <00:24:41.104>your <00:24:41.385>systems,

541
00:24:42.285 --> 00:24:44.865
<00:24:42.285>or <00:24:42.485>you <00:24:42.685>want <00:24:42.885>to <00:24:43.085>create <00:24:43.285>more <00:24:43.485>automations <00:24:43.685>using

542
00:24:44.865 --> 00:24:45.905
<00:24:44.865>blockchain <00:24:45.801>technology.

543
00:24:46.485 --> 00:24:48.625
<00:24:46.485>Um, <00:24:46.834>further <00:24:47.185>it's <00:24:47.534>very <00:24:47.885>important

544
00:24:48.645 --> 00:24:51.065
<00:24:48.645>to <00:24:48.820>remember <00:24:48.995>you <00:24:49.170>can <00:24:49.345>just <00:24:49.520>keep <00:24:49.695>your <00:24:49.870>entire <00:24:50.045>stack

545
00:24:51.085 --> 00:24:52.785
<00:24:51.085>and <00:24:51.318>you <00:24:51.551>will <00:24:51.785>just <00:24:52.018>add <00:24:52.251>like <00:24:52.485>one

546
00:24:52.925 --> 00:24:55.625
<00:24:52.925>or <00:24:53.100>two <00:24:53.274>services <00:24:53.450>like <00:24:53.625>assigning <00:24:53.800>server <00:24:53.975>and <00:24:54.149>notary <00:24:54.325>servers

547
00:24:55.625 --> 00:24:59.185
<00:24:55.625>or <00:24:55.858>tokenization <00:24:56.091>server <00:24:56.325>to <00:24:56.558>your <00:24:56.791>existing <00:24:57.025>architecture.

548
00:24:59.565 --> 00:25:01.225
<00:24:59.565>The <00:24:59.765>rest <00:24:59.965>of <00:25:00.165>your <00:25:00.365>team <00:25:00.565>doesn't <00:25:00.765>really <00:25:00.965>need

549
00:25:01.225 --> 00:25:02.665
<00:25:01.225>to <00:25:01.440>know <00:25:01.657>what's <00:25:01.873>happening <00:25:02.089>in <00:25:02.304>these <00:25:02.521>services.

550
00:25:02.725 --> 00:25:05.305
<00:25:02.725>You <00:25:02.880>provide <00:25:03.036>an <00:25:03.191>interface <00:25:03.347>and <00:25:03.502>they <00:25:03.658>can <00:25:03.813>interact <00:25:03.969>with <00:25:04.125>it.

551
00:25:06.005 --> 00:25:10.145
<00:25:06.005>Um, <00:25:06.471>Oh, <00:25:06.938>uh, <00:25:07.405>okay.

552
00:25:10.605 --> 00:25:12.705
<00:25:10.605>And <00:25:10.838>finally, <00:25:11.071>well, <00:25:11.305>I <00:25:11.538>already <00:25:11.771>mentioned <00:25:12.005>it.

553
00:25:12.735 --> 00:25:14.465
<00:25:12.735>Make <00:25:12.909>sure <00:25:13.084>you <00:25:13.260>have <00:25:13.435>like <00:25:13.610>the <00:25:13.784>right <00:25:13.959>business <00:25:14.135>problem.

554
00:25:14.845 --> 00:25:17.305
<00:25:14.845>Um, <00:25:15.078>I <00:25:15.311>had <00:25:15.545>like <00:25:15.778>an <00:25:16.011>extra <00:25:16.245>slide.

555
00:25:17.365 --> 00:25:21.705
<00:25:17.365>So <00:25:17.520>we're <00:25:17.676>also <00:25:17.831>running <00:25:17.987>a <00:25:18.142>hackathon <00:25:18.298>for <00:25:18.453>$550,000 <00:25:18.609>in <00:25:18.765>prizes.

556
00:25:21.705 --> 00:25:24.905
<00:25:21.705>So <00:25:21.821>if <00:25:21.938>you <00:25:22.054>want <00:25:22.171>to <00:25:22.288>join <00:25:22.405>that <00:25:22.521>one, <00:25:22.638>um, <00:25:22.754>you <00:25:22.871>can <00:25:22.988>also <00:25:23.105>come

557
00:25:24.905 --> 00:25:26.225
<00:25:24.905>to <00:25:25.103>our <00:25:25.301>boot <00:25:25.499>and <00:25:25.697>scan <00:25:25.895>the <00:25:26.092>code.

558
00:25:26.485 --> 00:25:28.985
<00:25:26.485>And <00:25:26.640>if <00:25:26.796>you <00:25:26.951>have <00:25:27.107>any <00:25:27.262>further <00:25:27.418>questions <00:25:27.573>about <00:25:27.729>integrating <00:25:27.885>like

559
00:25:28.985 --> 00:25:31.585
<00:25:28.985>your <00:25:29.218>web <00:25:29.451>two <00:25:29.685>applications <00:25:29.918>with <00:25:30.151>blockchain <00:25:30.385>technology,

560
00:25:31.635 --> 00:25:33.985
<00:25:31.635>we're <00:25:31.790>just <00:25:31.946>at <00:25:32.101>the <00:25:32.257>Heera <00:25:32.412>boot <00:25:32.568>just <00:25:32.723>behind <00:25:32.879>the <00:25:33.035>curtain.

561
00:25:34.235 --> 00:25:34.665
<00:25:34.235>Thank <00:25:34.621>you.