Rethink Trust 2018: Joost Volker, Making Enterprise Blockchain a Reality
Recording: Rethink Trust 2018: Joost Volker, Making Enterprise Blockchain a Reality
so I think it's great to be an engineering cumference I think that's that's probably a favor to say as well I'm an engineer myself but I probably have just want you those who came to Amsterdam you probably looked up on Wikipedia but just give ten seconds should just take a look around over here I think that's probably one of the best examples of real good engineering know one of our great architects bela he built this in the end of the 90 centuries and actually builders building for we probably know who knows what is built for Stock Exchange exactly but he did build it like it was like like a church those are the concerns but also it's a bit of a kind of Palazzo Italian polenta because bill and he believed that capitalism wouldn't last for long Hey so he said I'm building a building for the stock exchange from the last ten years maybe 50 and finally he got a final he got it right you know they build the Palazzo for the stock exchange to start to give other people a great place to be so here we are and his legacy actually from Eric's legacy so somebody so good Oracle we talked about always before so you probably mine Oracle from a lot of places well I'm working on Oracle in the space where we have lot of stuff probably like the emerging technologies so we call a middleware it's tough you know database but orgasm a lot of space in in enterprise applications ai mobility etc so I've been very fortunate to be with Oracle in that space IOT AI next I graduated and I in 1993 so that probably gives you a bit of my age come on back and as I think a lot of people here as well got interesting blockchain from different different angles so what I'm trying to do is for today is take you to some stuff we've been experience so far so I'll come to what Oracle's doing later but what we working as our customers I want to take some of the enterprise adoption of blockchain and I what we've seen so far so a bit of idea about enterprise adoption a few of the projects we are in a taking it is very moment and I'll finish up something what is probably some announce of all and that is something showing here they're probably going to talk about stuff that has some product rope of stuff in there key thing here is stalling this one IDC analyst great you know great numbers great numbers so I think the good stuff in here in the great numbers I think all the how happy it's it's major growth and I think it was somebody we're hiring you know Lincoln etc what's you watching all over the place and actually I think this should be the ledger is probably better than a name for that there's also something bin I think danger in here what I see if you look at the numbers it seems to be all happening you know in Western Europe and North America which is not maybe the money is going there or the money's mommy coming from there I think we're doing a lot of business actually Middle East in Africa we're doing a lot of business in in APEC so I think this well so I should see this numbers great you know will grow but the biggest growth actually is not in those numbers so where it says seven percent for Seema I suppose that's gonna be 12 percent you know next year so as we look at it there's good bits everywhere going back to what you said when we discussed blockchain with with our customers I think it's all screwed as well there's some intrinsic value of blockchains this with leather I would like to take it to that why it's so important well for our customers to understand there's an intrinsic value that blockchain brings together because as you look at it for a lot of the things in watching itself there are bits and pieces that have been there for four years and also at Oracle we have been we've been building with delivering systems which actually could do all kinds of things in there no we're gonna we are data company so we've done some of this stuff so what makes blockchain different and I think the key thing with watching making it different is that it's bringing a lot of things together almost like no in a box and then people can of course they can very eight than that but it's a lot of things which I it's like really good well engineered bring together reason I assure you see is what we see when we talk about customers well you look at this this just capabilities like the decent micelle work it brings certain benefits like the illumination of interest kind of stuff and this good ledger and the transaction it brings certain capabilities it's interesting when we go for example to the smart contracts or the transparency that something this probably has been higher but it delivers higher benefits and that is also I'm looking at from where I'm come from this is actually where blockchain is meeting some of the functionality that existing enterprise application have so where blockchain has started to bring almost like basic capabilities from the blockchain it's moving into space where there's a lot of enterprise application will actually do a bit of the same are probably built for that purpose and now its infancy so how can blockchain not only replace maybe something but also enrich and enhance those enterprise applications I think that's something with a lot of a customer our customers looking at because they're not they're not just looking said to throw away things look how can they enhance things what should the replace if they're making the next investment where should they go and that's something as well straight away take away know what share not only about no disturbing stuff it's also about looking what's happening today and how can you enrich improve make things better so that angle of enterprise application hitting blockchain and coming together I think that's a very strong point so overall if you look and I think I'm a true belief in that that you have to understand the real capabilities of blockchain to understand what kind of use case you could you could carry forward with that and I stopped with it and then overall we more or less defined okay if you look at end by space we could see kind of use cases all roll up in four spaces so actually you want to create a new marketplace autonomous apart from the rest what are you want to do with that it's very much looking at so where is fresh friction in my process in my value chicken I could've that can I make it shorter can I take shortcuts it's very much about as well and that's exactly the intrinsic value of the blockchain how can I securely manage records because actually at the end of the day watching is very much about recognization we're not talking actually made maybe a dark data we're talking about records and so securely handling records is it thing that probably has been overlooked very much a farm and a lot of thing I think which is the very obvious one because there's a lot of stuff is still and Ida tracking the provenance and probably I would say maybe the Providence I would say probably more the higher level of auditing or the trailing I think that's important so if we look at what we're doing with customers so far then we more or less can Boxton endeavors let's say maybe maybe not be complete but at least where we can see the majority in the enterprise space and so far if I look at what let me talk with customers in a way we said okay if you look at it and you probably said well these are this these four boxes yeah one of one of more more being disruptive I'm very much on the efficiency one more on the recognization either one of Tralee it's also important that where you want to start is different it's not it's not definitely not the same and a two-letter if you look at records or audit trail I would probably that's maybe it is a bit of an engineering term but it's more when you look at what washing can do is you're looking at objects no its objects you would like to secure or its objects you would like to track and trace and be able to all it and it's different for example if you would like to establish a new marketplace or doing something the value chain you have to look at the whole system whole ecosystem so both are good but if you start something understand where is styling off and what you're gonna change because if you're looking just to track something it's a much easier thing than to just to disrupt the whole value chain and that's import important maybe it's about the impact of it could be different another angle you could look at okay so when your particular looking at efficient or the trailing that's something we've been doing for a long time we do we may do it different better faster so it's much more with what we do today in an evolutionary way and we are looking at disruption and think valves will they secure records I think that's where you can see much more the transformational projects so those two angles will help you fall to scope out big impact also big challenges don't run away for that but at least be aware of it it's a kind of that taking it is taking that that model we're looking to some of our better customers I should say better customer they probably that's the first thing I should mention is that we are introducing Oracle's blockchain cloud service which was announced this year and I can say today that it's going to be imminent so stay tuned I'll come back to that at the end but so we've been running this for about now eight or nine months and immolated months we've done a lot of pocs so we'd be very quiet on that one but it's the blockchain cloud service it's wrapped I'll explain later it's based on high polity fabric and very much we're working with some partners to to get it off the ground and here you can see a list anonymous full of some of the key proof comes we done over the last nine months so talking about business this is realistic business so this is not about you know just trying something out this is businesses coming with real business world problems and see can we do this with blockchain and now all of them are successful or you could say probably they are successful because they found that it wasn't blockchain that should help them but somewhere here on that side you can see a lot of things are across those angles you know about the fishing summer disruptions are new marketplaces and it's across the boards and supply chain and financial and and public services now I'll take you to a few of them to give you a hinge because if you look at it all of them will have benefits which probably are somewhere in the quarters but there's always one thing that stands out and I just want to run quickly to some of them and just give you a hinge where where was actually the the key thing for them to to to work on blockchain the first thing this is a banking conglomerate in Asia Pacific and actually what they what they looked into say okay there's a lot of loyalty out there loyalty points out there when also a loyalty points is interesting about shame what they looked at of course is where a bank there's loyalty points and actually loyal tones are something if you first if you would hand out loyalty points there's something as a depth on your P&L and so there's a lot of depth sitting somewhere on P&L so old people have loyalty points to the bank things well if we can combine this and we make it easier to spend loyalty points we can run this cross-border you can exchange that has a major economic value so they can see blockchain to actually to open up economic value from loyalty points with banking systems and bring it together so I think that's a very interesting case think about the old world who thinks about how can we do things in a new world second home maybe and it's prob this is about the intermediate cutting out admitted this is in a bank second it's like this is a middle sized Bank and they suffer as well like you know from other corporate rulings so they have to do cross-border payments kind of stuff so what I did is just say can we do something else I have my bank over here in some countries can I do something smarter but and this is very much about efficiency very simple they've done this for years did this dude and bloodshed helps them myself to cross-border in a certain area probably one of the biggest promises I would say is is across the logistics supply chain and I think there's a lot of use case around this and some still may have to come true but a thing if you look at logistics and this is maritime logistics which is even very very hard there probably a day and I'd put on there actually across two axes so they're in the both in the efficiency as engine order trailing of course supply chain an orca we we've been selling supply chain systems for years has been maxed out on probably step by step and probably overlooking but still has all the plays in place there's a massive lack and slack actually the massive slack in the whole process which is done by a documentation cross-border v80 all those kind of stuff now we can see is actually that word blockchain you're more or less also decomp lies the different players in this field is not only the supply chain it's also government with cross-border which can play a role not not note determined with a specific role in there to make sure that actually trading is being done and of course you've all this hand off paper the fact that we now are at the circus pay you can say well any paper could be a digital asset and also I think that's a key here so because now of course we're moving from physical world and this data together that makes now very easy to use blockchain to really speed up the whole transportation in a process still P of course is how do you connect the physical world with the digital world so I think IOT is in this place very important one but meritum cross-border that's the case worth thing also I think interesting we do connect of course a lot of the blocking with financial I think actually I don't think that the biggest opportunities for block she is actually in fine in the finance industry but it is of course in finance related or value related issues and this is one of our customers in oil and gas and they still want to work with banks we still want to work with but they just want to be things faster and this is about bank guarantees so they want to be sure that they don't always need the bank for a bank guarantee which think actually is a strange thing but that's what it will want to try to achieve that there are different guarantees that is still there vendors are backed up by assets etc so the using blocks exactly to make it easier know creating trust to trust make it easier for banks to actually lighten the way they have to handle the bank guarantees and as as well I think the we're talking to us something of trustless networks actually here's the network which create a trust and that's two more so this one is typically are things in the provenance and the Keithley is about olive oil and actually it's not about tracing the olive oil at the end of the day yes it's about tracing all avoids the tracing back to to the families who use etc but actually it's about brand and this is a premium brand which like to establish itself in a you know in a global world and the only way they can do is is to put promise you know on their plate because that's what some people they will value Providence of the products much more it doesn't make the oil better worse but it's something which is one of the additional I think you have the five piece of marketing probably is a six P now provenance that you need to consider as well and they can do this with block chain so that will help us well to actually to establish their market but also to create new markets and the last one I talked about the sugar records I think this and this is also kind of interesting one this is a government body which has to deal with immigrant flows and this is not about putting immigrants immigrants applications on the blockchain like this is about I would say the do this function of those different organizations being government federal government NGOs to work together you know and still of course they know well we want to use something and they're trying out if blockchain is the right technology for them to have secure records being shared in a way that it's very easy to work with but secure enough to prove identities and also to secure it entities so there's a very interesting project to see of course if blockchain can add another layer of security into the into the game there's so far with the so the projects and I think the sort of real projects underway big government small banks small companies family companies and large conglomerates everything is in the mix what I would like to take two as well if we look at if blockchain makes sense for the enterprise I would say there are fewer requirements and we've been looking oh so when I talk about our blocking cloud service how we should design that I just want to take you to some of the key things we think it's important that blockchain must need must meet you know to to be enterprise-grade first thing so what Shane is not an island so you can define a blockchain and blocks him by itself but the end of the day blockchain needs somewhere to hit the rest of the IT world it didn't need to hits the rest of the world so it somewhere needs to be able to get itself get itself into the rest of the IT space all right cool it's that's why it's called it needs the entropy elytis so maintainability manageability i think we had a lot of today that's the support ability all the things need to be taking the books not because we like it but particularly as well when we look at the enterprise level these are the things how enterprises run their core systems so if you want to be in that space with much chain you have to understand that and be able to meet those requirements or probably beat those requirements because with existing systems we might not always meet them as well so blockchain might be an additional thing so it sort of Ireland secondly needs a strong foundation so we've chosen for high pledget fabric I think a good speech this morning on that Oracle has joined high quality fabric just going to click through security the key thing not optional absolute security option so in the hybrid less fabric a lot of things and on top of that allows other stuff you need to consider so encryption relocation authorization all those kind of things look and it needs to be soft we need to be able to solve that supportability I mentioned at one of the ill-at-ease and being country at a time I'll just go probably the last one which is integration and I love to have blocks and of course in the middle the gold ring that connects all together I think there's absolutely a for that that's the opportunity and with that just but a position well Oracle's bringing to market is a blocking cloud service and so you can see in the middle the blue one that's what a high polish fabrics it's so we've used high polish finish well as foundational to the way we do consensus the way we build up the notes the way the members etc so if you focusing this morning what's the mock the go there get yourself on the mock it's a really good training and then you understand place the core we've build around it is the API layer rest to be able to integrate to our own applications sounds a bit fast third party this is to business applications that a lot of EDI are there which calls for blockchain you know to take it over so look at that space that we build we've wrapped around that and as also we're done say instead of just having to bring your blocks you to somewhere to deploy it we have to blush in cloud service it comes with the infrastructure all deployed with Dockers with Kafka all the stuff well you can and on top of it you can run your applications you can use kubernetes all the stuff against it and then have a console to manage it so that's what we as Oracle wants you as well bring into the blockchain economy something which is ready to use and then of course you can engineer you can develop against the cloud service to build your application on top of it and to maximize it so these are the kinds we've looked into performance resilience security support ability and development tools so that's what we've been looking to enhance from starting with high ability fabric and bring it on so we can see its business it's for business it's for IT it's also for developers and all those three groups know I think they can get their hands dirty with this and with that learn more stay tuned imminent to be released so stay tuned that connecting we sell when we released there will be free trials or actually that's free you'll get credits to use it so happy it will so stay tuned for that and don't be worried by the price I said but still I would take one of the great lessons learned that well I want to know gonna tell but 1997 and still very very much true well thank you very much 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