Real World Blockchain Use Cases | LA Blockchain Summit

Alright, hello everyone. Welcome to La blockchain Summit. We are very excited to share this panel. With you regarding real-world blockchain use cases. This is easily a panel that could extend through the entire conference at the allocated enough time for it, but that said we're going to keep it very high-level. Imma give you as much information and his little time possible in this 27 minutes with me, I have a very diverse group of individuals who are both have corporate experience as well as just very nice blockchain experience in a number of different verticals. So that said you're going to

get a lot of information out of this, this panel. I'm sure of that and will be able to speak much more beyond that of just a Bitcoin and other things that most people are aware of what blockchain to do. So that said will starts with some quick introductions and then get quick in the content. My name is Jared. Win on the founder of Wind Solutions in a blockchain philanthropist. Normally, I was a vice president at binance in their charity sector. Focus on at this point marketing and public relations, as well as helping to frame the messaging behind blockchain products and blockchain solution

and very excited. Be muttering moderating, this, this panel for everybody here today. I'll be I'll hand over to you. Hi, I'm I run. Raped Maya. Hi Myra, jonovich Tyranno group I've been in the States since 2010 was the former and CIO General Electric and Catalyst for General Electric using blockchain across all business verticals. Wonderful Kieran. Hi Jonathan. Karen McKeown. Hear from? We trading in Dublin Ireland and there we we effectively provide the crazy cash flow

enhancement for merchants with 15 x live on the way trade platform at the moment and really were given access to those Merchants for Bank guarantees invoice, Financing Credit Insurance risk, Astro recharge. I previously worked in various technology companies in Ireland. You untag cast Phineas and me to the motion among others. Wonderful. Thank you so much and see you of a pillar that started working on medical technology. We're trying to detect and monitor epilepsy seizures and put the whole data sets on On a Block

Chain & cable. Still work on Chantix starter. Great, thank you so much and last week, David. Hi, David posts on the managing director for trust. Our supplier is, it's a joint initiative between IBM and chain yard, and its network based approach. The supplier onboarding, validation building, a decentralized corporate identity for the first time in about 30. + 45 + companies in blockchain. They typically correlate with that with Bitcoin, Bitcoin was one of the first use cases that we were all able to witness a blockchain, which was a kind of a

revolutionary technology for us to think of this. Otherwise be used many people today, still don't understand how blockchain works and it took me some time to myself to actually understand it fully. But essentially on think of blockchain as the removal of trust between a transaction typically for transactions to occur from one point to another that has to be a middleman or a human interaction and with human interaction, you get variability, you never know. How are humans going to behave in one way or another? And with, that trusting reputation is what comes behind Major Brands such as

MasterCard, American Express visa on the major companies that we trust, the transfer funds from point. A to point B. Now there is a better way to do this and that's why we're all here and that's called blockchain in which code does not ever falter. It doesn't behave in one way or the other based on a gain or loss. It will always act the way that we instruct it to which leads us to artificial. Intelligence leads us the many different use cases for blockchain in itself but I'd like to do is kind of started with Halsey. The talk about how blockchain actually really can benefit or help the video

industry of all things can benefit from blockchain. Now with blockchain specifically latency is a big issue, the amount of time it takes for one thing to happen. Video is very high demand. So I'll be I'm very interested to hear how can that industry benefit from integrated blockchain into the infrastructure. Change the string in one way, we do exactly what they coin does. So so what's amazing about Bitcoin is without anybody asking anybody to go out and buy hardware and set it up process transactions and get paid. There was this massive Network, probably the largest

computational Network ever in the entire world was built without one person being asked to do anyting. So, what we do is we we borrow that idea and we take advantage of the 30 to 40 per-cent of servers that today or sitting in data centers doing nothing because they've already uploaded their their, their data center basically to the cloud. And that means that they've got tens of billions of dollars and survivors. There. Doing nothing and said, what we do is we use the servers in the same way that Amazon music service by process video. So by using servers that

people have that they're they're not using and they're willing to get some money for nothing, we can lower the overall cost. crossing video, which obviously, in this environment is incredibly important, because there's a explosion going on in video people haven't noticed Absolutely. And I have some background in video analytics, and I know the intensity that it requires in terms of GPU processing and everything that comes with it. And with that, there's a big apprehension to use cloud. When it comes to that, you feel that cloud in itself is is broken in that way.

And do you think the blockchain can improve upon it salesforce.com and spent the good part of my time helping to build out? And I think Lauda is very good for certain kinds of things. I think we can Fort now is as we go into a v g World by Bee Gees, all about very low latency. And so that means that all of the hardware needs to get pushed towards the edge of the cloud was reducing costs and complexity, but now that we have 5G Sedated, decentralized inside the five G's is the architecture. The middle for video coin is pretty much how all

applications are going to be Bills going forward. If they want to take advantage of 5 G's low-latency capability, which is which is a big part of what size he is. Yes, I just add that for everybody. 5G being the fifth generation of Wireless technology is going to be essentially revolutionize the way that we do things. Now right now, with cellular technology, you'll get anywhere from 30 milliseconds, up to three hundred milliseconds on the transfer of data from one to another time. I saw at one point, somebody trying play Virtual Reality with a soccer helmet and they

weren't able to do it on Prince cell phone technology because the soccer ball would fly past them and they couldn't block it on 5G. They truck because the amount of distance between the cell tower in the user itself is shortened on as well as the fiber-optic layout that kind of the backbone behind it. So 5G a blockchain itself that it's going to be kind of the Pinnacle is what we're reaching this technological Revolution. Do you see any other ways that 5G will impact blockchain? Comfort for me.

I think they are completely complementary Technologies, because I don't really know any other way that you can get the decentralisation of Hardware that's necessary or or 5 g a, i know, you know, all of the developments the last 15 years. In, in, in bigger and bigger cloud. And now, we have to completely reverse that and Technology to reverse, that is, is watching because black changes designed to be distributed. The only, the only problem is just the speed at which the blocks and needs to operate and then waiting to set your black fan. So that is so that is very, very low latency and every

other complicated than 5 g r r r Well, thank you so much for that Halsey and I think I am very excited to see how that continues to progress with your with your project. And what I'd like to do a little bit of a pivot here and Kieran. I use specifically have done a significant amount of work more relevant to covid-19 and just we've all experienced the different impacts of this is hot on us financially. I myself owning two businesses, I have the PPP loan process

than the United States was absolutely egregious. It took me to three months to receive funding in a situation that many weren't able to wait. We lost many people lost their businesses as a result of these delays. So I'm curious based on your practice and your expertise. What ways have how did Europe do with this process? Firstly let's talk about that with regards to do is fund distribution and in what ways do you think blockchain could have improved upon it? Yeah I think we had similar problems in in Europe Jared's and if you think about a business has there under severe

pressure having to lay off staff, I'm having I have just not able to pay bills and they needed support in the need to support fast. And a lot of processes are very manual and just just took too long and Company went under because it didn't have sufficient support to keep them alive and I think I'm in a blockchain scenario. If you had all of the relevant parties together on the Block chance, if you think of the PPP just mentioned there, you've got the small businesses, you've got the US small business administration, get the bank's, the revenue and maybe, or

other government bodies. I think the key thing around the block chain is a consensus mechanism so that all of those parties could agree on the conditions, to, to redo support those businesses. If you think of the pp, It was really about giving loans those businesses giving them in a fast and efficient way. It's a 1% rate was applied, I had to block chamber control, whether it would be a two-year term to five year term. I have managing the deferrals. I'm really just sitting at the conditions for forgiveness cuz that really what it was all about that. These loans were applied and then

companies who are maintaining their employees or quickly rehiring their employees, they were able to get forgiveness for those loans, the redid, the validation, and using a smart contract scenario to make sure that the proof was provided out of your tax returns or as said, the receipts for employment tax that mechanism. If it was in place in a blockchain environment, could have really solved that problem because it's all about bringing those but you say digital Islands to get her bringing all of those people together and the proper mechanism. Consensus after

Silas TVD to bring the Speedy loan facilities to those businesses that were needed a speed and they are also then the immutability of the records and analytics and tracking have things like which businesses were able to survive through those loans, being provided and the analytics to know a better to do it again in the future, it would have been a perfect scenario for blockchain. I completely agree. And with that it's needless to say that we were not prepared medically financially whatsoever for this pandemic but that said there could have been a much smoother path

and I think that's going to be realized through this process was that things could have been better. Things could have been done better and tired of this pandemic. I was actually working and pain in hand with the Carolinas with respect to trying to implement something for FEMA relief. They have just encountered Dorian where there had been a long period of three months where there weren't any funds distributed, distributed for the rebuilding of these houses in home button, otherwise been destroyed, whereas a blockchain transaction can take seconds to minutes so there's definitely

opportunity on the Verizon. It's just a matter. How, how do we get this to be leveraged? And with that, I'd like to hand off to Maya who had former experience with General Electric. I'd love to hear a little bit about how you were able to incorporate blockchain in the day today, and what you had to do to get some of that body. You accept a large corporation. That's a good one. It was in 2014 when that starred in 15. So it's really early for the, for the corporate. But as I said, I've been involved in it since the beginning was part of really early projects. And some

of the stable coins in the space, it wasn't an easy buying, they equated Bitcoin, to blockchain Ryan. So if you talk about blockchain than they thought there was a Bitcoin and there's no purpose to it to hold this point really interesting. In terms of computing, power, one of the crazy ideas I had that got me in front of essay was to use the airline engine energy, right? So as as ge's of the World produced, these Airline engine to produce a lot of electricity that electricity.

You do with the electricity and he said, well, we ground it and so we don't use it for anything and not is massive amounts of electricity and power. I like New York city, so I turned around and we created a project that actually I had a suggestion to attach blockchain and Bitcoin machines in, and really pay for the whole Division. And the only reason it didn't ask is because he was really early on. And we really could have powered most of the business divisions by just using the electricity that we produce on those on those still going back to some unused acids and then use power and I will

never forget this, right? I mean, being a woman bunch of six year olds sitting in front of me in 2015 and I'm telling them to really pay for a failing division spelling and it didn't pass my general counsel because Bitcoin was considered to be a naughty transaction where you buy guns and corn. And another thing, right? That's right. That's right. That part was quite interesting. I've learned a lot and that's actually meant bit Fury. I'm really early on. But really what happened

later on. Six months later as we've devised number of different cases and so I'm at the station of devices energy use cases Aviation and by the way, talk about covid-19 cure, I believe application went live on Microsoft Azure and GE on traceability of foods in Airline business and safety. So that is, I think it's cold pay food. You can Google it and it is live. Reality is also to fold, right? That a lot of the data that Cindy's corporates is extremely polluted and not clean on. And so, it takes a while to get it into the cloud and position

of God and cleanliness of data and, and really figuring out what, the next business models, will be. Right for some of these areas in the world, and some of the customers and then really Finding it with artificial intelligence in blockchain, right? Otherwise, it's very expensive and it's inefficient and they are, they are just really great databases. You can use without using a blockchain and you can solve it now as we go into 5G and other things than this as Things become more digitized. I think it becomes of really interesting race who's going to have

a superhighway that, you know, that is a blockchain that will be able to write compute, everything else that we need. So I can talk about different phases that an end to this day, right? And she is using an aviation and energy and iot trade finance. That was another project that we did with JP Morgan. It's very interesting that you mention a lot of that and it's always a model that I mean, the reason that we're here at this conference today, for a lot of us is learning and I think that the battle for blockchain adoption will be based on education and to educate, you have

to have those ambassadors. The people that will be able to help people understand in 2014 was definitely a bit early. There wasn't enough to really be of a foundation. And people think the point is that what people lost houses, isn't that what people use on the dark web. So on so forth. And I remember speaking to Anthony pompliano, actually about this in which he actually got a business, what, that was for recycling of tires or Rubber products and use the byproduct of the aftermath that energy to mine Bitcoin. So it was a very similar basis where it was like how do we make profit or

how do we essentially recuperate some of these costs associated with this process? So I don't I think that I think it's a Jared and Ashley. Just reminds me of one of the things that I think is very useful. This is fraud and 3D printing right. That's where it's real. Really useful because you've a lot of cyber attacks in these companies that are producing materials to 3D printers and for designs and that comes and fortunately out of Asia a lot and blockchain is a very very good use case for that. Explains case I forgot I know that's a very good one. If

it comes to blockchain is is when you have many hands in the process of you know their manufacturing all the way through the delivery and distribution of a product. There is a lot of opportunity for corruption and what that their opportunities for swaps and counterfeit sand brides and people will lie at a time. So, of course, give the better or the upper hand. And I believe that you actually have some focus on this is, well, with what you've done in a sin. With

your, with your practice and what you've done, how have you leverage block trained in? Addison field, specifically. Yeah, so basically I believe that lotion and just in general is a very great way to deregulating government to make governance even better. And the idea of having a third anniversary party, Weather in finance in the medical field. Having a third party that we called we call it luck Shane and take care of stuff that government usually over regulates just like

medical medical data, which is, which is something that makes sense. Because after all we don't want our Medical Data somewhere somewhere in that is suspicious. So basically we're trying to implement option database that is trustworthy in order to to store the basically the patient's data. So basically we we do bracelets for epilepsy detection and monitoring we have five bio biosensors in addition to that allowed by by the patient. So it's a very sensitive data. The idea is as we work with

government, we want to to prove to them that it's not sorry, that things like gdpr. Implemented roughly and killing small business. Because I mean to comply, you need plenty of of money, right? So the field or even in smart contract to having less regulation. And corruptible processes is a very interesting think. Basically this is Revolution behind and be kind and lunch and making levels faster making less regulation but better governance that's that's the whole idea behind this revolution. I think I agree and data

privacy as you touched on is such a chief concerned. Especially in the today's situation of this pandemic is is that people want privacy and they want ownership over the data that they have especially when it comes to their medical records at what you were saying with me or those bracelets and what not, also a perfect use case for his wife. IG is necessary. You do not want to delay when it comes to having a political Apple FCU you need to have that prompted quick in order to have a quick response time. And there's a number of corporations that we know today that are incorporating blockchain

use cases. Microsoft is one of them, IBM, being another David, you have almost a decade with experience that with IBM. I am that we were talking about Supply chains. And basically, how blockchain compliments that to ensure that he was transferred in the trustworthy transfer of goods. Along the process, I'd love to hear a little bit more about how you incorporated blockchain into your day today and maybe some use cases. But you would have had it with your job. Yeah, I mean, black thing has been my day today for the past couple of years. So that that's pretty fun and I

mentioned at the outset that this is on his kind of your experiences during the early days of covid testing same thing and in the PPU space. So essentially it was a very messed up Market. If you're trying to buy a master, buy gloves to buy hand sanitizer, there was a bad actors on both the supply and demand side of the fence, which is extremely unusual in the context, of any well-functioning market. So, this is probably the worst country market I've ever seen and part of the problem with, you know, that the process by, which organizations

qualifying identify suppliers is really 22 points. So, it takes kind of takes place somewhere in The Ether. I use the analogy everyone, he's the same information, but it's like if you had to get a new driver's license, every time you press the picture they want, your basic identity information, Being qualified and hopefully we get out by, you know, you have company is basically doing repetitive process over and over again. So Dakota said the incidents during that time is that it's much more efficient for all parties involved

for suppliers. Have all their information on the flip side, buyers of large Fortune, 500 clients but I can access that just like a LinkedIn invitation at the click of a button. So if I basically, I got to take, if you look at the building blocks of transactions, That's why I think it's will be the Easy corporate identity standard and I you can use your imagination. Anyone is in the blockchain space, there's a digital passport across time with that. You say specifically, would you

what would you say the name? I gots complement of blockchain was. Was it the immutability of the fact that there was no third party ownership of the data or that the process of unboarding was embedded in code? What would you feel? Was really why blockchain in that versus a centralized database security when they talk about blacks? And I think one of these under your buncher emphasize points is the business process automation components. So, I would say that the reason why we should be done with the centralized database for subsequent use cases. So if you think about a situation where

companies are all contrasting out with third-party validators to basically got the same stuff and we can talk about a manufacturer with Sports suppliers in that value chain. You can basically if your company and it in this type of it's a tractor supplier world. You can specify other companies, another validators that you trust and then once that happens, you don't need to know who conducted the validation. All you need to do, which company did it all, you need to know that it happened. So greatly improve processes. If you're trying to do business with a new company, if

you're trying to to look at the supply chain risk network is much much more inherently attractive way and efficient way to transact in a point-to-point bases. That's why we sell the advantages here is once you're able to establish that underline a source of identity, you can then automate a lot of business processes on top of it. And that really I think speaks to how to find out will be enabled. You have to have a degree of Automation. And the only way that you can really do that is, if you're straight of transactions happened, even if you're

not sure who actually did those transactions. So I think that's the advantage. What kind of building for the long run here? Of course, there's there's a time and cost savings by the fact that there is an idea. I'd like identity on the black sheep, that's a beautiful. But I think that the fun stuff happens after you're able to kind of set that I got. And in the short-term memory, a lot of business value for a client, but I think that it's much easier to the identities of the corporate world that in the world are quite frankly because there's less companies and there are people. And if you

sign up once you've got a large amount of data and information and transaction volumes in the future, where we got traded as is plug into this as our other blockchain network. Still have it. I need for identity and I can happen in the contacts as well. So I think that that's that's the cool thing here. And if I'm pretty excited, But when we have giants like IBM that are essentially spearheading this, it only adds more confidence that we were in the right place and the David that was extremely enlightening. I

learned a lot just from the few minutes that you spoke there. And yes, that was very enlightening that said we are out of time at this point. I wanted to thank everybody once again for listening to us and real-world use cases for blockchain and thank you again for attending La blockchain Summit.