Digital Asset Co-Founder Eric Saraniecki on the future of digital transformation with blockchain

Captions as YouTube publishes them, usually machine-generated, so names such as Daml and Canton can be misheard.

1. 0:12

   I'm one of the co-founders of digital asset and I run strategic initiatives at digital asset we are a software company that produces all the components necessary for our customers to solve the data synchronization problems between them and their participants the last 24 months have been a really interesting period of time for a digital asset and crypto markets in general we've seen everything from the boom and bus cycle of some cryptocurrencies exceeding the

2. 0:37

   value of major Fortune 500 companies and then quickly falling back underneath we've seen nfts explode and control the complete mindshare of the of the interest in the ecosystem and then completely fall apart fall out of bed and know everyone lose interest including the very early signs of some Enterprise adoption we're also seeing for the first time in in history what can happen in financial markets when you remove the 48 to 72 hours of natural latency that you find in today's ecosystem so just the opportunity to

3. 1:09

   build real-time connected composed systems pretty producing all sorts of new Financial models transactional models way of interacting with assets and there's a really interesting number of experiments that are taking place in this ecosystem they're very instructive the types of things that can be done so even though they may appear frivolous they're teaching us a lot about new ways of interacting from a business perspective it's been said that

4. 1:32

   composability is the technological form of compound interest and we're seeing that play out in the crypto markets we see a bunch of different applications interacting with each other providing new lending models new leverage models new ways for participants to take advantage of the assets that they hold and they utilize and it's again painting a picture of what the future could look like without the natural latency found in today's systems at digital asset we have created

5. 1:57

   a smart contract language demo and we've created a blockchain Canton and they're designed specifically to meet these Regulatory and Enterprise use case needs so everything from being able to effectively model how an asset should behave building all the rights and legal regulations into the asset itself and then Canton to be able to preserve the privacy in a global ecosystem of interconnected applications so with

6. 2:21

   damel and Canton we can bring more of an asset and its entire life cycle on Ledger than anybody else thanks to the advanced modeling capabilities and the privacy of The Ledger we can bring everything from the pre-trade process the post-trade process all life cycle events and anything else that has to do with the asset and its rules on chain which means that we can synchronize significantly more of the process

7. 2:44

   between all the participants and guarantee that that information is correct across all parties doing so is really the next step in tokenization today tokens really only represent the Holdings of a position which in capital markets is almost the least interesting component of anything taking place generally speaking you don't get to update The Ledger of who owns something until everything else is correct all the reasons that you're updating it all the different things

8. 3:08

   that took place beforehand so being able to synchronize this process is important to bring the full life cycle not just the positions and download Canton give us that ability to do so so what I'd like to think about open business and the value that we can bring I like to think historically about how the internet has done something similar for a different type of data today the internet is one open permissionless network of freely replicable data we're trying to create a very similar

9. 3:31

   experience but for state for value for assets and in order to do so there are important lessons that we've learned from the internet today every application is Sovereign and independent but every user has a single point of entrance to the entire network with one browser or with one node I can access all apps all apps are composable against each other so I can build experiences that build upon the other applications that exist in the ecosystem and this is

10. 3:56

    important to think about how the internet has changed the way we think about the services that we that we use today if you just were to draw an analogy to the way Banks adopted the internet originally they took their traditional business and they left and shifted it into the internet so they opened an online Branch effectively nothing really changed other than they facilitated exactly what they do today online it took the paypals the stripes

11. 4:19

    the plaids of the world to come along and build new business models that really took advantage of the functionality and the features of the internet today and we expect the same similar pattern to happen in Canton and open business networks where our customers will initially lift and shift their business into the ecosystem and then a second wave of participants that have access to assets that they've never been able to connect to before will find new business models and new ways of

12. 4:44

    interacting and building new applications for users what makes me excited about being a digital asset and the opportunity in front of us is to remove the friction from our system today that benefits nobody the concept of payments taking two three five days is not accruing benefit to anyone today the total value and opportunity of our economy is hindered it's held back and just being able to remove this common friction to be able to achieve something like what the internet did for data will be a massive Improvement for Humanity so

13. 5:15

    I look forward to that if you'd like to know more you can go to digitalasset.com