{"id":"O8p59f7PJ58","title":"Building Businesses Opportunities with Distributed Applications","description":"This Webinar on Building Business Opportunities With #Distributed #Applications is hosted by 101 #Blockchains:\n\nBernhard Elsner, Product Lead DAML, Digital Asset\n\nWebinar Discussion Topics:\nDistributed Applications\n“Non-traditional” use-cases\nDe-risking Blockchain\n\nBlockchain is a term applied to a wide family of technologies ranging from cryptocurrencies like Bitcoin to more general distributed ledger technologies which are not Blockchains in the technical sense. What unites these technologies is that they all provide infrastructure for a class of applications called distributed, or sometimes decentralised applications. It’s these applications that generate value, not the infrastructure.\n\nSome such applications, like money, trade, settlement, or asset tracking are relatively well understood, and are seeing adoption, but many use-cases are largely unexplored. To unlock these opportunities, both technology providers and industry need a mental shift away from infrastructure and towards applications. Furthermore, development and adoption have to be de-risked to make Blockchain a viable choice for large scale long lived projects.\n\n📋  To get started with DAML, visit https://docs.daml.com/, and join the community forum here: https://discuss.daml.com/.\n\n📖  Visit also our DAML blog here https://blog.daml.com/daml-driven/\n\nFor more 101Blockchain webinar you can check here: https://101blockchains.com/blockchain-webinars/\n\n#distributedapplications #smartcontracts","channel_name":"Daml","published_at":"2020-09-01T00:00:00.000Z","thumbnail_url":"https://i.ytimg.com/vi/O8p59f7PJ58/hqdefault.jpg","transcript_text":"hello everyone great to see such such good turnout so today i want to talk to you about why i believe we're at an inflection point in the dlt or blockchain space where really entirely new business opportunities are coming into reach for those that haven't come across tamil or digital asset yet i'll start with just a bit of context on who we are what we're doing but most of the session today will be dedicated to explaining why we're doing what we're doing now the examples i've chosen today are deliberately non-financial and somewhat filed as they serve the illustrative purpose much better but everything i'm saying today should fairly obviously be transferable to financial or other industry applications so let me start with a bit of that bit of context demo is an open source tool stack developed by digital asset to allow developers to build and deploy distributed applications we want to enable developers to build value and to do that they need to be able to put the application first and today i'll explain what that means and why that matters the first pillar of this is to abstract away the infrastructure so that developers can concentrate on generating business value and writing applications once and then just deploy it wherever fits a dlt blockchain cryptographic database or any other backend system the second is that we want to bring agile to such applications iterative scaling all the way from a poc built-in days to the scale of national infrastructure third we're trying to give developers the tools to build complete applications including integrations automations user interfaces smart contracts running on a blockchain are only a small part of applications and lastly we're making cheap fast and complete deployment targets available in other words we're trying to make the road to production as smooth as possible now in all this i'm talking about distributed applications and before i go on let's see what i mean by that now many might be thinking well we're talking about applications running on blockchain but that's not a good definition we don't usually classify applications by the infrastructure they run on i would say that a distributed application is one that has some of the following characteristics it's distributed in terms of infrastructure i.e it doesn't run on a single physical machine and if you're in software engineering you'll know that every large application nowadays falls into that category the next is distribution in terms of trust we remove the central point of trust there no longer is a central party through which all information flows messengers with end-to-end encryption a good example will remove the operator's ability to read our messages the third is distribution in terms of control systems where no single entity has the power to materially disrupt the whole network the internet itself is a good example of this or distributed social networks like maybe mastodon and the last is distribution in terms of knowledge and this goes in the direction of privacy where information only flows to real stakeholders of that information and here traditional peer-to-peer messaging is a good example email your email only gets read by you by the receiver and the few people that route it in between now you'll notice none of these applications are new or have anything to do with blockchain indeed most inter business and even intra business applications need most of all of these properties and that's why so many systems nowadays are message based but message based systems we know are error prone require a lot of data duplication and heavy reconciliation which is expensive and this is where blockchain's great innovation comes in blockchain contributed consistency and integrity for such systems which removes the duplication removes a lot of the error scenarios and removes the need for reconciliation on top of that smart contracts gave us a nice mechanism to gain a shared understanding of the rules of such systems now many nowadays we really often just say blockchain to mean any platform that adds these eventual consistency guarantees into the mix are distributed or decentralized application for run for applications running on these platforms but what i want to point out here is that this technology is really just bringing new important properties to an existing category of applications we don't need to invent new blockchain applications to get value of the technology rather we need to get the technology to a point where it can start supporting these existing applications but let's start with a traditional blockchain example next slide please and that is digital money or cryptocurrency now i would characterize this application as follows it's a very high value application payments are big money you could even argue a matter of national sovereignty controlling money gives you enormous power money has all the properties of distribution that we just discussed bitcoin may be lacking the privacy but that's an implementation problem money has privacy consistency the main property blockchain gave us is crucial we all know how expensive forgery and fraud are in the real world and it's a very simple application the state of this application is just a fixed or controlled quantity of assets allocated to addresses and the state transition is just a preserving change to that allocation there's nothing more to it everything else on blockchain is just there to incentivize the operation of the infrastructure and the enforcement of those rules yet a bit of research i did showed that earlier this year there were a good 5 000 carbon copies of this application running forks copies just small incremental changes and almost 850 of those were running on their own dedicated infrastructure i don't know any other example of an application that was copied that much and indeed many other applications that we're talking about in on blockchain are closely related blockchain is still very closely associated to digital assets that tells me that people see the value in the technology but find it challenging to move beyond those core use cases why is that happening to understand that we need to look at the cost and value associated to technology stacks next side slide please if we look at technology stacks and blockchain is a good example here cost and value are almost inversely proportional to each other starting from the bottom building robust infrastructure is very expensive we're probably talking in the many tens of millions dollars millions of dollars to build something then running that infrastructure is expensive first of all it's not available to most of us then you need specialized personnel and skills the software doesn't have the same production readiness as mod as more traditional infrastructures and there are no managed offerings which would make all of this easy then we have to program them at at a low level often at the protocol level so we have to redevelop a lot of libraries and tooling for even simple applications only once we've done all of that we get to the business logic which ends up being a tiny fraction of the cost of our projects that delivers all the value and if we look at the blockchain technology landscape of the last decade we were almost forced to start close at the bottom of this pyramid so getting a distributed application to market was prohibitively expensive and led to a lot of early commitment if you discovered you'd gone wrong anywhere in that process you had a large amount of sunk cost and you had to start from scratch so we couldn't validate business cases until we've made big investments in that environment only the simplest highest return on investment applications makes sense hence cryptocurrencies high value simple and hard to do any other way or indeed we just heard about supply chain management it's again a very very high value application and to really make it work you need to shoot for the moon you need to go global now cutting the investment by forking cloning or making just small increments can change that equation dramatically which is why we've seen so many copies of the same things now clearly all of this hindus innovation experimentation and adoption but today's talk isn't meant to be negative as i said in the beginning i think we're at an inflection point where all of this is changing and to see why let's look at some historic parallels what do mainframes in the 1960s databases in the 1990s and blockchain in the 2010s have been common every new generation of infrastructure starts being very low level every time there is a race to build that ultimate infrastructure so we see a rapid expansion in new offerings hitting the market and every time after that initial explosion comes a consolidation and that consolidation comes at the point where the infrastructure is abstracted away becomes commoditized and applications become the focus and that's when the real innovation starts happening in the 1960s that happened for mainframe applications with cobol in the 1990s odbc did that for crowd applications we saw it again in the 2000s for service-based architectures with standards like rest and json and for cloud-based architectures in the 2010s with containerization standards like docker and this is exactly why one of the main pillars of tamil is abstracting away the infrastructure we need to take exactly this step for distributed applications so how does that change the cost equation next slide please once the infrastructure is mature commoditized and just interchangeable you no longer need to commit early there's no lock-in and you have easy access to managed offerings and we're seeing that happening in the blockchain space with large tech companies coming into the space and offering properly productionized dlt infrastructures and of course that's exactly the sort of style of infrastructure we're targeting mcdonald's next practices for tech ops are starting to merge and skills and personnel get available one thing that helps here as i said earlier is the availability of complete managed offerings which is which is why that is one of our focuses but it also just takes a few major projects to be completed so that the professionals from those projects hit the open market and can be hired then of course we need to we need to have higher level abstractions languages libraries tools and frameworks that make it easy to get full stack applications off the ground and get pocs done in days which is again one of the core pillars of demo once all that has happened developers can start focus on the application logic the code that differentiates them and brings value to the customer in other words you can start from the top of the pyramid safe in the knowledge that everything else can follow easily and what opportunities does that open up as i alluded to earlier it means that we can bring the benefits of the technology to all kinds of up distributed applications that we already know about and i'll start with an example that might strike you as a little bit silly here project management kanban in particular it's a it's not so important what kanban is it's illustrated in the picture on the top right here the important things are it's not that high value business the market leader was recently sold for 425 million us dollars so it's nothing like money also it's just usually a centralized application trello or gyro or tools like that are just server based they are on the other hand highly complex compared to money lots of features automations integrations and so on so completely different sort of application so nobody would usually think about these as blockchain applications but indeed once you get into buy or tried party projects there are strong distributed components especially around trust knowledge and control a lot of sensitive information gets shared on these we're just so used to these applications being centralized that we've learned to work around these limitations by setting up multiple boards or just agreeing that one party can have control of everything now you may be wondering what would be the business model of a distributed project management system and the point is i don't know but until today we couldn't really find out maybe there are opportunities to manage notes because not everyone needs on-prem maybe in directory services maybe just in great uis like has happened in email maybe it's network provision or it's the same business model as for the centralized version in values value-add services or marketplace but you can't find out well you couldn't find out until today on public chain you can't compete on the transaction free market and you certainly don't want to develop your own platform just for this application and deploying and running enterprise blockchains was prohibitively expensive today the combination of tools abstractions and infrastructure move this very much into the realm of the possible as illustrated by the open source open work project which is a suite of productivity tools including a distributed kanban now whilst this sort of thing is coming into reach it's still somewhat far out there so let's have another look at something much closer to where people's thinking is already at with blockchain industry ledgers and that's social networks social networks undoubtedly are high value facebook is currently valued at half a trillion us dollars these applications also feel very distributed because all interactions appear to appear but we are all painfully aware that they are in reality highly centralized with business models focused on selling people's data for advertising so it's no surprise that there's a lot of interest in distributed models and to illustrate that i've included here a picture of dfinity's recent launch linked up professional network on that platform or jack dorsey from twitter calling for decentralized standards for social networks indeed interest here is strong enough that new business models are being explored on blockchain typically around cryptocurrencies examples here would be mines or steemit but there are two key questions that that sort of spring to mind here for me firstly is blockchain in the proper sense of the world actually a good infrastructure for social media and secondly are the business models driving the infrastructure decision here or vice versa and i would argue that the business models are being retrofitted to the infrastructure blockchains are chosen because that's what's out there and business models are centered on tokens or cryptocurrencies because that's what the infrastructure provides only when we properly decouple the application from the infrastructure and we have available cheap managed infrastructures exploration of a much wider range of opportunities and business models for applications of this type becomes possible now whilst we're on social media let's also talk about how such applications are brought to market and scaled according to mark zuckerberg the first version of facebook took two weeks to develop they then iterated that application for quite a long time before they had to rebuild in other words they followed a truly agile approach now agile scrum and similar frameworks are all about minimizing risk by approaching solutions quickly and iteratively every development cycle accumulates risk and cost which is why keeping cycles short is important you want to have the ability to change your mind and validate what you're doing and that process needs to be able to take you to scale but if you contrast that to the blockchain world of 2020s you understand why such applications weren't built you needed to commit early to an infrastructure and the lack of tooling made it very expensive to even build an mvp so you know the whole mvp concept didn't work well next you have the problem that blockchain applications are designed to be almost unupgradable right they are meant to be an unchangeable contract and lastly even if you got the initial version of your application right even simple applications like steemit or cryptokitties needed to build custom infrastructure before reaching any real scale just because the infrastructure isn't ready and all of that just adds up to risk and more risk and this is where the last of donald's pillars comes in to allow rapid development of pocs and iteratively scaling them to significant size we need that infrastructure we need upgradability and we need the tooling we need to allow developers to be agile to scale now already with the developments i've discussed so far i believe a wealth of distributed applications can benefit from the innovations brought by distributed ledgers and smart contracts and unlock all kinds of new business opportunities but there's more to come i've talked quite a bit about abstracting our infrastructure today but abstracting away infrastructure for distributed applications is actually not the same as for databases or mainframes imagine next slightly sorry imagine i just wanted to remind you that there's just five minutes yeah i've got one minute left this is your last slide imagine you had a distributed trading application one participant runs fabric one ethereum one quarter even if the application runs on any of those they may not talk to each other today's interoperability solutions often revolve around intermediaries i.e complex oracle services that move data between platforms but that diminishes the benefits of consistency integrity and the shared rules considerably so in the early 2020s you'll see a lot of innovation in a real interoperability i.e applications that can span multiple infrastructures seamlessly and the current infra infrastructure infrastructure abstraction double offers which makes applications portable between different platforms is an important stepping stone in that direction and you will see a lot more of this in in the years months and years to come so with that i'll finish and head back to enrico thank you","transcript_synced_at":"2026-10-26T04:14:01.584Z","segments":[{"start_seconds":0,"text":"hello everyone great to see such such good turnout so today i want to talk to you about why i believe we're at an inflection point in the dlt or blockchain space","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=0s"},{"start_seconds":8,"text":"where really entirely new business opportunities are coming into reach for those that haven't come across tamil or digital asset yet i'll start with","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=8s"},{"start_seconds":16,"text":"just a bit of context on who we are what we're doing but most of the session today will be dedicated to explaining why we're doing what we're doing now the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=16s"},{"start_seconds":25,"text":"examples i've chosen today are deliberately non-financial and somewhat filed as they serve the illustrative purpose much better but everything i'm saying today","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=25s"},{"start_seconds":33,"text":"should fairly obviously be transferable to financial or other industry applications so let me start with a bit of that bit","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=33s"},{"start_seconds":41,"text":"of context demo is an open source tool stack developed by digital asset to allow developers to build and deploy","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=41s"},{"start_seconds":49,"text":"distributed applications we want to enable developers to build value and to do that they need to be able to put the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=49s"},{"start_seconds":56,"text":"application first and today i'll explain what that means and why that matters the first pillar of this is to abstract","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=56s"},{"start_seconds":63,"text":"away the infrastructure so that developers can concentrate on generating business value and writing applications once and then","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=63s"},{"start_seconds":70,"text":"just deploy it wherever fits a dlt blockchain cryptographic database or any other backend system the second is that we","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=70s"},{"start_seconds":80,"text":"want to bring agile to such applications iterative scaling all the way from a poc built-in days to","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=80s"},{"start_seconds":87,"text":"the scale of national infrastructure third we're trying to give developers the tools to build complete applications","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=87s"},{"start_seconds":95,"text":"including integrations automations user interfaces smart contracts running on a blockchain are only a small part","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=95s"},{"start_seconds":103,"text":"of applications and lastly we're making cheap fast and complete deployment targets available","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=103s"},{"start_seconds":111,"text":"in other words we're trying to make the road to production as smooth as possible now in all this i'm talking about","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=111s"},{"start_seconds":118,"text":"distributed applications and before i go on let's see what i mean by that now many might be thinking well we're","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=118s"},{"start_seconds":127,"text":"talking about applications running on blockchain but that's not a good definition we don't usually classify applications by the infrastructure they","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=127s"},{"start_seconds":134,"text":"run on i would say that a distributed application is one that has some of the following characteristics","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=134s"},{"start_seconds":141,"text":"it's distributed in terms of infrastructure i.e it doesn't run on a single physical machine and if you're in software engineering","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=141s"},{"start_seconds":149,"text":"you'll know that every large application nowadays falls into that category the next is distribution in terms of","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=149s"},{"start_seconds":156,"text":"trust we remove the central point of trust there no longer is a central party through which all information flows","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=156s"},{"start_seconds":165,"text":"messengers with end-to-end encryption a good example will remove the operator's ability to read our messages","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=165s"},{"start_seconds":172,"text":"the third is distribution in terms of control systems where no single entity has the power to materially disrupt the whole network","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=172s"},{"start_seconds":181,"text":"the internet itself is a good example of this or distributed social networks like maybe mastodon and the last is distribution in terms of","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=181s"},{"start_seconds":189,"text":"knowledge and this goes in the direction of privacy where information only flows to real stakeholders of that information","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=189s"},{"start_seconds":197,"text":"and here traditional peer-to-peer messaging is a good example email your email only gets read by you by the receiver","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=197s"},{"start_seconds":204,"text":"and the few people that route it in between now you'll notice none of these applications are new or have anything to do with blockchain","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=204s"},{"start_seconds":213,"text":"indeed most inter business and even intra business applications need most of all of these properties and that's why","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=213s"},{"start_seconds":220,"text":"so many systems nowadays are message based but message based systems we know are error prone","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=220s"},{"start_seconds":227,"text":"require a lot of data duplication and heavy reconciliation which is expensive and this is where blockchain's great","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=227s"},{"start_seconds":235,"text":"innovation comes in blockchain contributed consistency and integrity for such systems which removes the duplication","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=235s"},{"start_seconds":243,"text":"removes a lot of the error scenarios and removes the need for reconciliation on top of that","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=243s"},{"start_seconds":250,"text":"smart contracts gave us a nice mechanism to gain a shared understanding of the rules of such systems","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=250s"},{"start_seconds":260,"text":"now many nowadays we really often just say blockchain to mean any platform that adds these eventual consistency guarantees into the mix are distributed","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=260s"},{"start_seconds":268,"text":"or decentralized application for run for applications running on these platforms but what i want to point out here is","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=268s"},{"start_seconds":276,"text":"that this technology is really just bringing new important properties to an existing category of applications we don't need to invent","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=276s"},{"start_seconds":284,"text":"new blockchain applications to get value of the technology rather we need to get the technology to a point where it can start supporting","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=284s"},{"start_seconds":292,"text":"these existing applications but let's start with a traditional blockchain example next slide please","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=292s"},{"start_seconds":301,"text":"and that is digital money or cryptocurrency now i would characterize this application as follows it's a very high","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=301s"},{"start_seconds":309,"text":"value application payments are big money you could even argue a matter of national sovereignty controlling money gives you enormous","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=309s"},{"start_seconds":317,"text":"power money has all the properties of distribution that we just discussed bitcoin may be lacking the privacy but","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=317s"},{"start_seconds":325,"text":"that's an implementation problem money has privacy consistency the main property blockchain gave us is","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=325s"},{"start_seconds":333,"text":"crucial we all know how expensive forgery and fraud are in the real world and it's a very simple application the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=333s"},{"start_seconds":341,"text":"state of this application is just a fixed or controlled quantity of assets allocated to addresses","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=341s"},{"start_seconds":348,"text":"and the state transition is just a preserving change to that allocation there's nothing more to it everything else on blockchain is just","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=348s"},{"start_seconds":357,"text":"there to incentivize the operation of the infrastructure and the enforcement of those rules yet a bit of research i did","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=357s"},{"start_seconds":366,"text":"showed that earlier this year there were a good 5 000 carbon copies of this application running forks copies just small","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=366s"},{"start_seconds":373,"text":"incremental changes and almost 850 of those were running on their own dedicated infrastructure i don't know any other example of an","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=373s"},{"start_seconds":382,"text":"application that was copied that much and indeed many other applications that we're talking about in on blockchain are closely related","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=382s"},{"start_seconds":390,"text":"blockchain is still very closely associated to digital assets that tells me that people see the value in the technology","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=390s"},{"start_seconds":398,"text":"but find it challenging to move beyond those core use cases why is that happening to understand that","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=398s"},{"start_seconds":405,"text":"we need to look at the cost and value associated to technology stacks next side slide please","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=405s"},{"start_seconds":413,"text":"if we look at technology stacks and blockchain is a good example here cost and value are almost inversely proportional to each other","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=413s"},{"start_seconds":421,"text":"starting from the bottom building robust infrastructure is very expensive we're probably talking in the many tens of millions dollars","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=421s"},{"start_seconds":429,"text":"millions of dollars to build something then running that infrastructure is expensive first of all it's not available to most of us then you need specialized","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=429s"},{"start_seconds":438,"text":"personnel and skills the software doesn't have the same production readiness as mod as more traditional infrastructures and there are no managed offerings which would","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=438s"},{"start_seconds":446,"text":"make all of this easy then we have to program them at at a low level often at the protocol level so we have","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=446s"},{"start_seconds":454,"text":"to redevelop a lot of libraries and tooling for even simple applications only once we've done all of that we get","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=454s"},{"start_seconds":461,"text":"to the business logic which ends up being a tiny fraction of the cost of our projects that delivers all the value and if we look at the blockchain","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=461s"},{"start_seconds":470,"text":"technology landscape of the last decade we were almost forced to start close at the bottom of this pyramid so getting a distributed application to","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=470s"},{"start_seconds":479,"text":"market was prohibitively expensive and led to a lot of early commitment if you discovered you'd gone wrong anywhere in that process you had a large","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=479s"},{"start_seconds":488,"text":"amount of sunk cost and you had to start from scratch so we couldn't validate business cases until we've made big","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=488s"},{"start_seconds":495,"text":"investments in that environment only the simplest highest return on investment applications makes sense hence","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=495s"},{"start_seconds":503,"text":"cryptocurrencies high value simple and hard to do any other way or indeed we just heard about supply chain management","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=503s"},{"start_seconds":511,"text":"it's again a very very high value application and to really make it work you need to shoot for the moon you need to go global","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=511s"},{"start_seconds":519,"text":"now cutting the investment by forking cloning or making just small increments can change that equation dramatically which is why we've seen","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=519s"},{"start_seconds":527,"text":"so many copies of the same things now clearly all of this hindus innovation experimentation and adoption but today's talk","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=527s"},{"start_seconds":535,"text":"isn't meant to be negative as i said in the beginning i think we're at an inflection point where all of this is changing and to see","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=535s"},{"start_seconds":543,"text":"why let's look at some historic parallels what do mainframes in the 1960s","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=543s"},{"start_seconds":550,"text":"databases in the 1990s and blockchain in the 2010s have been common every new generation of infrastructure","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=550s"},{"start_seconds":558,"text":"starts being very low level every time there is a race to build that ultimate infrastructure so we see a rapid expansion in new","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=558s"},{"start_seconds":566,"text":"offerings hitting the market and every time after that initial explosion comes a consolidation and that","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=566s"},{"start_seconds":573,"text":"consolidation comes at the point where the infrastructure is abstracted away becomes commoditized and applications become the focus","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=573s"},{"start_seconds":582,"text":"and that's when the real innovation starts happening in the 1960s that happened for mainframe applications with cobol","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=582s"},{"start_seconds":589,"text":"in the 1990s odbc did that for crowd applications we saw it again in the 2000s for service-based architectures with","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=589s"},{"start_seconds":597,"text":"standards like rest and json and for cloud-based architectures in the 2010s with containerization standards like docker and this is exactly why one","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=597s"},{"start_seconds":606,"text":"of the main pillars of tamil is abstracting away the infrastructure we need to take exactly this step for distributed applications so how does","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=606s"},{"start_seconds":615,"text":"that change the cost equation next slide please once the infrastructure is mature commoditized and just interchangeable","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=615s"},{"start_seconds":624,"text":"you no longer need to commit early there's no lock-in and you have easy access to managed offerings and we're seeing that happening in the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=624s"},{"start_seconds":632,"text":"blockchain space with large tech companies coming into the space and offering properly productionized dlt infrastructures","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=632s"},{"start_seconds":640,"text":"and of course that's exactly the sort of style of infrastructure we're targeting mcdonald's next practices for tech ops are starting","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=640s"},{"start_seconds":648,"text":"to merge and skills and personnel get available one thing that helps here as i said earlier is the availability of complete managed offerings which is","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=648s"},{"start_seconds":657,"text":"which is why that is one of our focuses but it also just takes a few major projects to be completed so that the professionals from those","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=657s"},{"start_seconds":665,"text":"projects hit the open market and can be hired then of course we need to we need to have higher level abstractions","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=665s"},{"start_seconds":672,"text":"languages libraries tools and frameworks that make it easy to get full stack applications off the ground and get pocs done in days","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=672s"},{"start_seconds":682,"text":"which is again one of the core pillars of demo once all that has happened developers can start focus","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=682s"},{"start_seconds":688,"text":"on the application logic the code that differentiates them and brings value to the customer in other words you can start from the top","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=688s"},{"start_seconds":696,"text":"of the pyramid safe in the knowledge that everything else can follow easily and what opportunities does that open up as i alluded to earlier","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=696s"},{"start_seconds":704,"text":"it means that we can bring the benefits of the technology to all kinds of up distributed applications that we already know about","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=704s"},{"start_seconds":712,"text":"and i'll start with an example that might strike you as a little bit silly here project management kanban in particular","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=712s"},{"start_seconds":720,"text":"it's a it's not so important what kanban is it's illustrated in the picture on the top right here the important things are it's not that high value business the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=720s"},{"start_seconds":728,"text":"market leader was recently sold for 425 million us dollars so it's nothing like money also it's just usually a centralized","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=728s"},{"start_seconds":737,"text":"application trello or gyro or tools like that are just server based they are on the other hand highly complex compared to money","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=737s"},{"start_seconds":745,"text":"lots of features automations integrations and so on so completely different sort of application so nobody would usually think about","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=745s"},{"start_seconds":754,"text":"these as blockchain applications but indeed once you get into buy or tried party projects there are strong distributed components","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=754s"},{"start_seconds":763,"text":"especially around trust knowledge and control a lot of sensitive information gets shared on these","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=763s"},{"start_seconds":770,"text":"we're just so used to these applications being centralized that we've learned to work around these limitations by setting up multiple","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=770s"},{"start_seconds":778,"text":"boards or just agreeing that one party can have control of everything now you may be wondering what would be the business model of a distributed","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=778s"},{"start_seconds":786,"text":"project management system and the point is i don't know but until today we couldn't really find out","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=786s"},{"start_seconds":794,"text":"maybe there are opportunities to manage notes because not everyone needs on-prem maybe in directory services maybe just","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=794s"},{"start_seconds":800,"text":"in great uis like has happened in email maybe it's network provision or it's the same business model as for the centralized version","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=800s"},{"start_seconds":808,"text":"in values value-add services or marketplace but you can't find out well you couldn't find out until today","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=808s"},{"start_seconds":815,"text":"on public chain you can't compete on the transaction free market and you certainly don't want to develop your own platform just for this application","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=815s"},{"start_seconds":823,"text":"and deploying and running enterprise blockchains was prohibitively expensive today the combination of tools","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=823s"},{"start_seconds":831,"text":"abstractions and infrastructure move this very much into the realm of the possible as illustrated by the open source open work project which is a","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=831s"},{"start_seconds":839,"text":"suite of productivity tools including a distributed kanban now whilst this sort of thing is coming into reach","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=839s"},{"start_seconds":846,"text":"it's still somewhat far out there so let's have another look at something much closer to where people's thinking is already at with blockchain industry","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=846s"},{"start_seconds":855,"text":"ledgers and that's social networks social networks undoubtedly are high value facebook is currently","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=855s"},{"start_seconds":862,"text":"valued at half a trillion us dollars these applications also feel very distributed because all interactions","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=862s"},{"start_seconds":869,"text":"appear to appear but we are all painfully aware that they are in reality highly centralized with business models focused on selling","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=869s"},{"start_seconds":877,"text":"people's data for advertising so it's no surprise that there's a lot of interest in distributed models and to illustrate that i've included","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=877s"},{"start_seconds":885,"text":"here a picture of dfinity's recent launch linked up professional network on that platform or jack dorsey from twitter calling for","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=885s"},{"start_seconds":893,"text":"decentralized standards for social networks indeed interest here is strong enough that new business models are being","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=893s"},{"start_seconds":901,"text":"explored on blockchain typically around cryptocurrencies examples here would be mines or steemit","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=901s"},{"start_seconds":909,"text":"but there are two key questions that that sort of spring to mind here for me firstly is blockchain in the proper sense of the world actually a good infrastructure for","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=909s"},{"start_seconds":917,"text":"social media and secondly are the business models driving the infrastructure decision here or vice versa and i would argue that the business","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=917s"},{"start_seconds":926,"text":"models are being retrofitted to the infrastructure blockchains are chosen because that's what's out there and business models are centered on","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=926s"},{"start_seconds":935,"text":"tokens or cryptocurrencies because that's what the infrastructure provides only when we properly decouple the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=935s"},{"start_seconds":942,"text":"application from the infrastructure and we have available cheap managed infrastructures exploration of a much wider range of","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=942s"},{"start_seconds":950,"text":"opportunities and business models for applications of this type becomes possible now whilst we're on social media let's","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=950s"},{"start_seconds":958,"text":"also talk about how such applications are brought to market and scaled according to mark zuckerberg the first","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=958s"},{"start_seconds":966,"text":"version of facebook took two weeks to develop they then iterated that application for quite a long time before they had to rebuild","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=966s"},{"start_seconds":974,"text":"in other words they followed a truly agile approach now agile scrum and similar frameworks are all about minimizing risk","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=974s"},{"start_seconds":983,"text":"by approaching solutions quickly and iteratively every development cycle accumulates risk and cost","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=983s"},{"start_seconds":990,"text":"which is why keeping cycles short is important you want to have the ability to change your mind and validate what you're doing and that process needs to be able to","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=990s"},{"start_seconds":999,"text":"take you to scale but if you contrast that to the blockchain world of 2020s you understand why such applications","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=999s"},{"start_seconds":1008,"text":"weren't built you needed to commit early to an infrastructure and the lack of tooling made it very expensive to even build an mvp","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1008s"},{"start_seconds":1016,"text":"so you know the whole mvp concept didn't work well next you have the problem that blockchain applications are designed to be almost unupgradable","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1016s"},{"start_seconds":1025,"text":"right they are meant to be an unchangeable contract and lastly even if you got the initial version of your application right","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1025s"},{"start_seconds":1033,"text":"even simple applications like steemit or cryptokitties needed to build custom infrastructure before reaching any real scale","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1033s"},{"start_seconds":1041,"text":"just because the infrastructure isn't ready and all of that just adds up to risk and more risk","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1041s"},{"start_seconds":1048,"text":"and this is where the last of donald's pillars comes in to allow rapid development of pocs and iteratively scaling them to significant","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1048s"},{"start_seconds":1057,"text":"size we need that infrastructure we need upgradability and we need the tooling we need to allow developers to be agile to scale","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1057s"},{"start_seconds":1067,"text":"now already with the developments i've discussed so far i believe a wealth of distributed applications can benefit from the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1067s"},{"start_seconds":1074,"text":"innovations brought by distributed ledgers and smart contracts and unlock all kinds of new business opportunities","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1074s"},{"start_seconds":1081,"text":"but there's more to come i've talked quite a bit about abstracting our infrastructure today but abstracting away","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1081s"},{"start_seconds":1088,"text":"infrastructure for distributed applications is actually not the same as for databases or mainframes","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1088s"},{"start_seconds":1096,"text":"imagine next slightly sorry imagine i just wanted to remind you that there's just five minutes yeah i've got one minute left this is","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1096s"},{"start_seconds":1105,"text":"your last slide imagine you had a distributed trading application one participant runs fabric one ethereum","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1105s"},{"start_seconds":1113,"text":"one quarter even if the application runs on any of those they may not talk to each other today's interoperability solutions often","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1113s"},{"start_seconds":1122,"text":"revolve around intermediaries i.e complex oracle services that move data between platforms but that diminishes the","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1122s"},{"start_seconds":1129,"text":"benefits of consistency integrity and the shared rules considerably so in the early 2020s you'll see a lot","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1129s"},{"start_seconds":1137,"text":"of innovation in a real interoperability i.e applications that can span multiple infrastructures seamlessly and","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1137s"},{"start_seconds":1145,"text":"the current infra infrastructure infrastructure abstraction double offers which makes applications portable between different platforms is","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1145s"},{"start_seconds":1154,"text":"an important stepping stone in that direction and you will see a lot more of this in in the years months and years to come so with that","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1154s"},{"start_seconds":1162,"text":"i'll finish and head back to enrico thank you","url":"https://www.youtube.com/watch?v=O8p59f7PJ58&t=1162s"}],"youtube_url":"https://youtube.com/watch?v=O8p59f7PJ58","url":"https://ccpedia.xyz/videos/O8p59f7PJ58"}