Canton Buildcast with IntellectEU

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

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   as markets move onchain a Trad fireing crypto markets converging on canel the world's biggest institutions highest quality assets and unchain innovators already here the first public blockchain network with privacy every two weeks we'll showcase the applications and use cases shaping the future of Finance the ecosystem is growing new markets are forming and this is just the beginning welcome to the Canton Bill cast where

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   new connections create new possibilities this week join intellect EU shows us how easy it is to spin up and manage and spr grade validas on Canton so you can participate in apps continuously earned topen rewards there's more to build and connections to be made so come and find your place on Canto let's go hi Jonathan fantastic to see you again thanks for joining us thank you Ben thanks for having us but at intellect EU you've been really helping institutions and Crypton native firms operate Enterprise grade blockchain

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   infrastructure really since what 2014 2015 right yeah it's been a decade almost wow okay and and something we're really seeing happening at PACE now is that in the caner ecosystem especially no distribution is becoming really much more important you know in the Canton context that really means institutions that are using applications on the network wanting to gain the full benefits of the sovereignty and and the Privacy that Canton provides by spinning up a a validated node and obviously in

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   Canon that's a bit different because you know validators and other chains are are not quite the same right and you know on Canton your node is really your your own private slice of the global Ledger it's what keeps you in real time sync with all the other participants in the network across all the applications you use so know we're really seeing people now wanting to run a validator so they can um bring that computing power and utility to the network overall and there's obviously incentives to doing that as well now because we have

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   obviously rewards with Canton coin for people that are contributing to that infrastructure as well so really really cool to be on this journey with you obviously helping a lot of our customers to to get started with that um it'll be really good Jonathan to to kind of get your view as we as we start off here on on how you really seen the the kind of evolution of this institutional grade blockchain infrastructure we used to call it Enterprise blockchain I think is it's very much evolved from that now what are the different approaches that

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   you've seen at ieu to network building to to application building and how these approaches are maybe change the the kind of the speed and scale of network adoption that we're now seeing the utility that app users can can access in networks yeah exactly um and it's a bit like you mentioned right like the focus is really on the utility of the network and what is the value that technology can bring and that's something we've seen over over the past 10 years as well

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   it's where really the focus has been shifting on what is the value that the technology can bring and being that immutable orchestration layer that it can provide for those different types of business applications and that really is also the focus um with those different networks and applications so one thing that I think the Canton network has done great is it focused first on proving the value of the technology with the form of creating those different applications

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   being it in the form of those private domains or those subnets and then focusing on okay how do we now create a global synchronizer or a Global Network out of that and that we' seen really drives the growth and acceleration of network given that there's already proven value on there there's large entities and like 10 largest banks are involved in Canon Network um and we see that really it's because of the focus on the utility and the business value that

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   that really accelerates the adoption yeah fantastic and I think that the idea of accelerating adoption for institutions of all kinds is really the core of what you guys have been doing from the beginning um tell us obviously what cat Catalyst blockchain manager is you know what it's designed to solve who in the Canon ecosystem what kinds of firms are you working within the ecosystem already yeah and it's like I mentioned like with intellect you have been focused on emerging Technologies

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    implementing that for regulated entities for the past 10 years now and what we've seen is that in that whole journey from concept to production there's lot of recurring Lessons Learned mistakes risks that need to be addressed so really the goal with catalyst is how do we accelerate that journey and automate as much as possible to reduce the risks of going from concept to production and that's also what we've seen with like the three largest fmis that the latest

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    papers they brought out like the Euro clear clear stream dtcc is really the focus on what is the principles that need to be addressed and what are the Enterprise great requirements that are needed and then three things that really stood out that we want to address with catalyst is the infrastructure management the operational resiliency and Enterprise Readiness that's needed but also the integration piece being vibration to Legacy systems different settlement and payment rails so what we

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    aim to do with catalyst is really how do we address those three pieces being the infrastructure management providing you that assurance and that resiliency that's needed during runtime and the integration to really accelerate the evolution of global markets that way and allow those institutions to leverage the technology and the benefits that it can bring yeah great and I think the other thing that we're really seeing you know it's not just the institutional side coming to you know these institutional great blockchains now we're really seeing this dissolution of the

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    boundaries between kind of institutional um adoption and the crypto side and people wanting to get the all the benefits of the crypto rails so you're working with other people now in the Canon ecosystem right not just the institutional like big players you mentioned the fmis and things it's also you know the validators coming in so how does that work when you're bringing those different kinds of players together bring them together on C it's exactly like you mentioned like it's the whole ecosystem that is starting to come

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    together and see how their different business drivers and needs and values can can collaborate so I think right at Catalyst were not only serve in Banks but it goes beyond like to wealth managers trading firms stable Co providers market makers and even custody providers so we see across really that whole sphere that those entities are bringing their business value on the network and really looking how to collaborate and we see really that drives the adoption of business value

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    gives direct benefits to the end consumer as well so it's really exciting to see how how it's growing exactly thanks Jonathan so let's talk more show let's have a look at the the blockchain manager in action um do you have a demo you can show us maybe to walk us through some of the key use cases you're working with some of those different participants on yeah certainly happy to Showcase Ben so as you mentioned with Catalyst we really want that to be a

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    tool or an interface for entities to use to go from concept to production and provide them the infrastructure requirements the operational resiliency and management capabilities to really scale and focus on what is the business requirements so in Catalyst if you log into the interface you can see here different Canton components you immediately get a good overview of what's happening on the network so what I want to showcase in this demo is how

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    easy it is to set up a local domain being at one of the subnets how to deploy a participant on the network and deploy different applications and then you can even go to the validator um section to connect to the global synchronizer so we'll call this domain the build cast domain where we here will be able to select the image that we're going to use we can select different functionality if you want to expose it to the outside world for example you can

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    give all the necessary configuration that needed or we can just go with theault and hit create and then our domain will be being set up in the background so catalist does consist of a user interface an API console and what we call a DT operator so here we're showcasing our user interface but everything we're showcasing here is perfectly available to do via our API so you can see here the build cast domain

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    is up since 11 seconds right now we can see the locks that are happening right away which could also be integrated with existing systems and we can can see the necessary um variables now for the participants it's a similar process so we'll call this one the build cast participant similar setup you can select your own image or the one that is publicly available we can select to run Canton Enterprise um and select all the other resource configurations that are

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    needed you can connect it to your own IDP or authentication mechanism can do all necessary configurations or indeed like the last time just go with default um setup as you see here in the background then a different component will automatically be created and then we Leverage The our DLT operator that we've built to provide that control Loop so to really make sure that what you have deployed has that resiliency has

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    that up time available and gives you that Assurance with the application that you are running that it is a is consistent and it's so next step we want to connect it to a domain so we can here connect it to the build cast domain catlist do allow to connect to a custom domain as well it's really as easy as hitting a few steps and then you can see that this participant then joined the build cast domain there currently

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    because it's a fresh domain no new existing parties on the network so we can create a party called Ben which is then here created and I can even create one um for Jonathan now these are then the parties that will be represented on this participant note and can be interacted to it on Smart contracts from Network if you then want to connect that to an off Ledger user um in our IDP systems we can again just say Okay this Ben user is connected to this party and can act as the participant

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    then and then we can create that linkage there as well and you can see here with Catalyst we can do necessary operations then that are needed during grand time you can see the locks that are needed if you then want to install the DAR file it's as easy as selecting one of the existing DARS that have uploaded into our collections tab before so all of that three functions smooth and makes it very easy to really focus what is the business value that you want to create

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    and abstracts way all the hurdles that are need during run time that's great Jonathan so let me just clarify so what we've seen there is initially you're spinning up participant nodes and this is what we've historically talked about in terms of connecting to private subnets or applications that are really running these private networks um in the past and what we're going to see next is is you connecting really the those participant noes to uh the global

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    synchronizer right so this then is all about taking part in that public ecosystem um and also what we've seen there you mentioned Dar this these the application files that apps are Distributing right so you can you can download those from the blockchain manager super easily and manage those as well um it really provides such an easy interface I love it yeah exactly and you see like for development purposes it's

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    mostly needed to set up a private domain but then once the application has been proven out and you're ready to go to devet then we facilitate that with Catalyst as well so here I briefly wanted to Showcase an Enterprise participant where we then focus a bit more on another functionality like pruning which is needed during runtime and if the data grows or setting up backups if you then need to for example clean your underlying infrastructure and then restore it so all of these things we really want to focus on how do we allow

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    you a user to focus on the business value and again bringing that utility to the network and reducing the risks and the time consuming efforts on bring that um to life so this is how easy it is to create an own domain create a participant um that we have here the build cast participant with our Dar our Network app um being deployed if you then want to deploy a validator it's a very similar

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    process so before doing that briefly going over the other things catalyst is around to do remote Administration for existing domains and participants as well but for a validator note there's a bit more setup or configurations that we need to fill in um so we need to provide all the necessary um Fields so here we can say this is the build cast validator and then the on boarding

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    secret quickly copy paste so the boarding secret is provided by super validator um on the network then we give in password so all of this we automate um with the help of catalyst um so we given you given the configurations want Catalyst will take it from there and then really ensure that everything is is being deployed in a seamless manner so then here we insert all the other information and Fields that are

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    needed um you can go as custom as you want we will say here as identifier call it the build cast ID hit continue do all the necessary resource configuration we can do certain unique environment variables if that's required as well you can see here an overview of everything you hit confirm and then all the necessary components of a validator note will start being deployed now while this is up and running we'll go into one that we have created previously so as you can see here in as Ben as you explained

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    validator node consists of a participant that is joined in this case to The Domain called the global synchronizer which is a decentralized domain run by the different super validators on the network and then the other applications are also installed with the help of that so we're going to hear that that specific participant note can see here and this will take a little bit of time to load um but we can see here that there's current already 14,000 um

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    parties on devnet and they're actively working on different application and testing it out but then it provides again the same interface as if you were deploy a participant on a local domain so the global synchronizer really has to be seen as a decentralized domain that allows all of that utility that has been built over the past years to now really start collaborating and bringing those companies together to drive that utility further and how do we accelerate and

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    increase the value we can provide to our end consumers fantastic and so in terms of you know running a valid data and starting to re you know receive the rewards through the foundation for providing that utility to the network obviously having high up Time stuff like that is really critical to that whole process right so well because we're functioning on a decentralized network and we have the economics in Play It's of high importance that you have that resiliency in place to always be connected to the

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    different participants on the network if you're providing a validator note or a super validator that them really becomes critical to provide that service to the network and hence also the focus of catalyst and the value we can provide there is that operational resiliency those uptime guarantees to give you that uh that service cool it was a great great demo and what I love it it's something that is so operationally you know I mean blockchains distributed systems are operationally complex

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    generally and you just make it quite easy just to to get in there to monitor it to see how the operations are going uh just to spin up these different um different types of operations within Canton as with Cloud I guess you know institutions want to Outsource node operations in different ways so how do you support the different requirements you know we've seen people maybe have different requirements at the beginning of their journey and then that changes over time how are people currently using

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    Catalyst at those different stages of the the journey and how some the thought process is there so you're absolutely right like in our industry there are different requirements when it comes to on premises or different Cloud vendors so something we deliberately did at the start in building catalyst is to make sure that Catalyst can run with zeroc Cloud vendor Lo in meaning we can deploy this on premises or any Cloud environment that supports kubernetes on or open shift and that allows us to also

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    bring that flexibility when it comes to infrastructure management and validator node hosting where some companies can run thanks to Catalyst a validate note within their own environment even sometimes completely sell it off from intellectu or we could also provide it as a service and provide more that managed service Experience run on a dedicated account for you so really focusing how do we provide that flexibility for those Enterprises and

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    how do we make Catalyst as a tool that can neatly integrate with your existing requirements and again let's focus on the business value let's focus on bring that utility to the network and accelerate the growth of the ecosystem can can you give us some examples maybe of you know the kinds of Institutions that are looking at you know running a validator and what their requirements

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    might be versus someone that is maybe more you know um Limited in terms of Their Own Private Cloud requirements things like that yeah exactly I think regulation is also a big play there for example in Europe we have Dora that is forcing the banks to take more ownership of the infrastructure and that's a lead where we see okay the banks they want to leverage their own data centers for that and then they might have different requirements and then it comes to firewalling things off making sure not every third party has access to things

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    so that's where we see specifically for those requirements that Catalyst valed can bring is having it deployed on their systems already addressing their security requirements providing that flexibility there but there's other customers that say hey we want to quickly join the network for as we don't have those requirements um on our site so then it's more okay intellect you we will host the infrastructure for you run Catalyst and the validator for note for

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    that and later on we could migrate so we actually seen companies where they say okay we want to act on speed please run it for you provide that managed service and then when they go into production they say okay please migrate back to our infrastructure as the requirements come in yeah I think it's been great you know we we obviously launched the the Genesis of the global synchronizer being you know mid mid 24 and in that time you've managed to you know really help us in

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    supporting know over 70 validators are just coming on coming online now which has been a great a great help to really help to scale the network in these early phases so um thanks for all that all that support and it's great to see you really supporting the ecosystem um are you you know also you know actively involved in the the foundation and what have you so can you can recommend firms to become validators um you can you can ask Linux and the the GSF about that

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    right yeah exactly you can reach out to the GSF you can find us at on our website click.com or reach out to marel or I think to you Ben as well um but I think there really see the growth in a Canton Network as well largest banks of the world are building on it are involved in it so that's where we see that uh there's a great acceleration happening and evolution it's always great fun talking to you um I hope we doing another one of these in 10 years time Jonathan and we're um you know we're reflecting on on that that scale

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    and adoption um really really good to to to catch up with you again to wrap for this episode of the Canton Bill cast want to dive deeper check out the links below to to learn more connect to app or bring your asset to news cases to Canton and don't forget to hit subscribe to stay on some of the latest apps and opportunities shaping institutional grade on chain Finance bye for now