Digital Asset Daml Demo HKFTW [2021]

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

1. 0:01

   hi my name is max i'm the developer advocate at digital asset today i'm extremely excited to share with you a few projects from the demo developer community that tackles real life problems that people are facing today damol is an open source smart contract language developed by digital asset it allows you to write your smart contracts and deploy them to a variety of blockchains essentially allowing the applications you write to be infrastructure agnostic

2. 0:26

   the projects that we'll be presenting today are chainworks a blockchain startup company using daimle to solve inefficiencies in the telecom industry in india and we also have an individual developer gaurav who picked up damil not too long ago and is aiming to solve inefficiencies in the trade industry so without further ado i will let the presentations begin hi i am jitendra ceo of chainworks we are a blockchain technology company collectively with 15 years of experience

3. 0:56

   in product research and development we have worked on various projects that involve government agencies enterprises and have built on top of various blockchains today we are showing you a rather interesting applications in the telecom industry that were invited to present by the telecom regulatory authority of india the issue is about mobile network portability energized mobile number portability is the ability to change your mobile operators

4. 1:29

   while maintaining your mobile number now imagine having the ability to change your bank service providers while having the same bank account number that's mobilenet affordability while this is an excellent idea in theory putting this to practice would mean implementing systems that would impact billions of people and as you might as you there are multiple challenges that arise at the scale primarily

5. 1:59

   there are four major telecom operators in india which are responsible for the majority of the 1.2 billion subscriptions and each of these operators have their own onboarding processes manage their own databases provide their own specific services to the subscribers if you are a person looking to get a mobile subscription you would have to provide your kyc details to the mobile

6. 2:24

   operator while agreeing to all the terms and conditions of the operator and if you're looking to port your number from one mobile operator to another there are set of guidelines provided by the telecom regulatory authority that has to be followed by all parties involved in reporting here's a brief of the process as a first step you as a subscriber would initiate the boarding process by requesting your current provider

7. 2:55

   for a unique voting code or upc you then submit the upc to a third party company called mnpsp which handles all the porting coordination tasks parallelly you also submit the upc to your new operator while initiating a separate kyc process to get onboarded with them behind the scenes the new operator submits the ups upc code back to the mnpsp which is the third party porting service provider

8. 3:33

   who checks with the current provider if you are eligible for porting your current provider checks the database and confirms if you are eligible for porting upon confirmation the ups mnp sp requests both the new and old operators to update the databases this completes the boarding process according to the telecom guidelines all this process should be completed within 15 days of generating the upc you might have observed that in this process there are multiple steps which

9. 4:12

   look rather inefficient for instance the unique boating code generated in the first step switches hands multiple times and then the subscriber requesting the port is required to redo the kyc process even though they have already registered and completed this process with the initial provider the telecom regulatory authority did recognize these problems and put out a consulting paper requesting for ideas to solve these problems the paper suggests that there is a 40

10. 4:49

    percent failure rate to both numbers due to mismanagement of the upc moreover there are even cases of phone operators fabricating invoices to prevent subscribers from moving to the other operator while mnpsp in theory is meant to help with the coordination process it only adds additional complexity now this is a problem that 300 million people in india are facing making the process of switching

11. 5:21

    operators extremely troublesome the high failure rate long voting time and vulnerability of creating fake invoices is primarily due to obsolete and fractured infrastructure that these telecom companies operate in every time a customer requests a subscription with a network a separate database record of the customer information is created this means same individual would have to repeat the same kyc process over and over for each new connection

12. 5:55

    with this fragmented architecture the source of truth lies with the individual operators giving them total control over subscribers information so this is a problem that the regulators are calling to solve when we first came across this problem we knew that blockchain would be the perfect fit to address these issues our main challenge however was to determine which blockchain platform to use considering that we had

13. 6:25

    about 14 days to build a demonstrable product after a lot of research and brainstorming we decided to adapt damn as our smart contract language to build a proof of concept to a surprise a team was able to convert almost all the telecom requirements into daimler's smart contract logic build the application and deploy it into production all within a span of 7 days in the smart contract each operator will be a party in the network

14. 6:58

    and in this network the user admin in this case the regulator can onboard all these mobile operators there is a shared ledger among these participants and the smart contract enforce the rules laid out by the telecom authority mentioned earlier we were able to concisely capture these rules with tamil code since tamil is designed to translate rights and obligations into a digital template take for example this smart contract all these lines deal with privacy and

15. 7:31

    authority if you were to try to achieve the same result with the general purpose programming language any blockchain developer would tell you that this section here means a subscription contract can only be created with the permission of an approver admin and subscriber parties and this block specifies who can do what and in this case only the subscriber can request a change in the operator by adopting demo and writing all the required workflows into the demo smart contracts

16. 8:08

    porting numbers from different service operators becomes near instantaneous and with almost zero percent failure rate since all the workflows and information are coded into the smart contracts damil also preserves the privacy of the customer information while respecting the data seclusion between various operators meaning there is no fear of leaking sensitive or valuable information to competitors from learning tamil to writing the smart

17. 8:41

    contracts to building the front end and deploying it to a production environment on both centralized and decentralized infrastructure the process took about seven days for us if we had used a general purpose programming package i estimate it would have taken about 30 days for us to get into some sort of appeals as a developer and on behalf of chainworks we are always exploring the latest technologies which can improve our developer experience

18. 9:13

    and increase our productivity coming across damol has really helped us on those two friends and i'm looking forward to building more projects with dammit hi my name is gaurav bansal and i am our solutions architect i have been a developer for the last 12 years and have been following the blockchain space since 2017.

19. 9:44

    since then i have worked on a couple of blockchain projects and designed solutions using frameworks like hyperledger fabric and enterprise ethereum i heard about demo a few months ago and i started following it and find it way better than the others in the space of multi-party systems demo is extremely easy to set up and you can set up your development environment in less than 5 minutes you can start writing your demo smart

20. 10:16

    contracts immediately when writing the smart contracts with demo especially when it deals with privacy authority in multi-party systems it becomes quite intuitive most of the time is spent on writing the business logic and less about countless if else statements to make sure privacy is coded correctly finally the demo community that has made my learning very easy demo developers

21. 10:47

    respond extremely quick to any questions making my development experience very pleasant today i want to show how i adopted demo smart contracts and blockchain within the trade finance domain in nutshell trade finance is the financing of goods or services in a trade transaction from a supplier through to the end buyer it accounts for three percent of global trade or worth some three trillion dollars annually that's pretty high the problem in trade fine space

22. 11:27

    is that a lot of parties are involved in the whole life cycle of a transaction between two parties for example an importer and an exporter for example the use of a versatile financial instrument which is lc or letter of credit that various parties like an importer and exporter use to conduct a trade between themselves this multi-party involvement mainly creates three problems first is the time the transaction settlement time due to

23. 11:59

    dependencies on multiple parties is very high because of the number of parties involved in between second is the cost the overall transaction cost for the main parties that is the importer and the exporter due to the involvement of intermediate parties like banks trade finance companies and other agencies that charge high commissions from relevant main parties in exchange of trust and security to conduct and settle

24. 12:32

    the trade and lastly its complexity the overall process is very complex in itself and a lot of documentation between the parties banks government agencies port authorities insurance companies logistic companies and many others adds more to it let me illustrate the flow an importer agrees to buy goods from an exporter a purchase order or po is raised the importer will approach an issuing bank

25. 13:09

    or a trade financer who will request a letter of credit or lc which the bank will issue an lc if the company fulfills the bank's criteria like they are credit worthy the exporter will work with a confirming bank who will request that the lc documents be checked from the issuing bank of the importer the confirming bank will then check the lc and if the terms are agreeable the exporter will ship the goods the

26. 13:40

    exporter then sends the relevant shipping documents to the conforming bank once the confirming bank has examined the shipping documents in strict compliance against the lc terms they will forward these documents onto the issuing bank payment is made according to the agreed terms guaranteed by the showing bank now one might wonder why are there so many parties involved between the importers and exporters

27. 14:14

    despite these parties bringing more problems of time and money well the answer is trust and security these two parties that is the importer and exporter they don't trust each other and both of them have the capacity to act maliciously in a trade transaction and if one party does something wrong the other would have to pay a hefty price so to avoid that situation these parties involve these intermediaries

28. 14:52

    which ensures trust and security and for which they pay commissions to them bearing the cost and time for the trade my solution is to codify all the business logic and workflows into demo smart contracts and deploy this on the top of a distributed ledger instead of having intermediaries to facilitate trust between the importer and exporter the demo smart contracts guarantee that the parties act fairly to

29. 15:26

    give an example of the rules coded in the demo smart contract here is a snippet this is the importer contract the signatory here shows that only a user admin can create a role contract for the importer we also ensure that the importer cannot be the user admin itself next you can see we have the keyword controller this defines the authorization only the importer can exercise their choice of issue purchase order with the

30. 16:00

    details of the exporter exercising this choice will create a purchase order contract as you can see the required workflows are clearly coded in the choices of the contract next to illustrate privacy in demo code here we have shipment contract the shipment contract can only be created by the exporter as specified by the signatory here and the only person that can see this contract on their

31. 16:31

    ledger is the importer as stated by the observer keyword no other party on the network will be able to see the shipment contract and details that you have agreed upon again we can see that this contract has two choices if you are an importer you can exercise the claim goods choice no one else can this means exporter nor the user admin can claim orders on your behalf so by using distributed ledger approach coupled with demo smart contracts he can be sure that business logic is

32. 17:12

    carried out in the smart contracts and avoid dependency on intermediaries this allows for most cost saving and quicker turn around time it's always exciting when i discover a new tech stack especially one like tamil that allows me to not to worry about which underlying blockchain to use i can start implementing the business logic immediately i can see this is just the beginning for more and more enterprise

33. 17:42

    applications being implemented with demo and i am really excited to be the part of this developer ecosystem thank you i hope everyone enjoyed learning about a few scenarios in which daimler can be used for if you're curious or want to try to set up demo on your computer visit bitly tridamel that link will take you to the demo developer community where you can see some additional

34. 18:06

    helpful links that will guide you to start building your first daimle application finally if you're curious whether or not damon can fit into your tech stack for your industry please shoot me an email and i'll be happy to chat thank you everyone