Rethink Trust 2018, Gene Galanter, Paradigm shift in confidential data control
Recording: Rethink Trust 2018, Gene Galanter, Paradigm shift in confidential data control
thank you very much snake and thank you again until exhaustion everybody please meet the great team of intellect soft they're all around you our next speaker is jingle and there he is the CEO and founder of practice practice joined the partnership with intellects often by the bay I think at a later stage but it's really amazing to me how quickly they joined Sayuri who is here visit a he's the CTO it turns out we clicked immediately on the technical side they have technical projects which are highly relevant and and based on the same thing and I must say that basically very quickly establish trust between two big companies and you know basically my son Francis a company and then we had two basic we had to set up a web of trust to make this happen so I think we demonstrate the trust is actually highly applicable and I think practice has really great technological insights into the blockchain space so I'm looking forward for Jean to to show it to us welcome Jean is this on its own hello everyone yes decentralized technologies are disruptive they cause new business models new commercial models they cause innovation because disruption and we see a lot of innovators around the world who jump on the opportunity to use this technology my name is gennady gallant ER I've been involved in this technology as investor and entrepreneur for about five years now we will locate it in Silicon Valley so we sort of have a first row seat and what's happening and kind of the kind of thinking and the kind of trends are available that this technology brings as Nixle said prior to this some of these trends are interesting some we dislike in the next 10-15 minutes I want to share with you some of the interesting opportunities that we see some of the ones that we're investing personally that we are passionate about these opportunities have one common core component in their technological and in their technological concept and that that component that core element of the system is I'd like to discuss with you and sort of introduce I wanna pass on this fire on the slide for a second to let this image to sink in imagine that you have a personal digital vault up in the cloud it's not a Dropbox it's not a it's not a Google Drive it's your personal vault up in the cloud where only you as the owner of the data in this world you have access to this world and only you have ability to open the world get the data out and share the information from the world in this world you want to share your digital assets those things that are very valuable in the information age information your data are all digital gold so this is something that you would put your digital gold gold into so think of things like your DNA sequence think about your driving records the details of your drive driving records every time you push the pedal every time you break every time you accelerate or gets in imagine that there is your creep the key from your crypto currency is in this vault so I want this image sort of this this is an important element of what the rest of it is is this what enables the rest of the story so you have the world imagine that we have an ecosystem everyone has a world we all have we all have our walls we all have our walls with secure information ennum we store them securely we keep the key boxes we don't share with anyone else this case that we are going to present first the games for pharma clinical study case the rest the rest of these cases are going to be similar so I want to go in details through this so let's look at this system of vaults that all of us have let's start with the empty vault and see how the data gets in so this opportunity that all of us have our personal walls in up in the cloud creates a market opportunity for various players that do not have this option today so it creates an opportunity for companies that want to leverage this common common infrastructure and common ecosystem to access our own data so imagine companies that do a DNA sequencing that come in into this space and they have access to all of our data so how they have DNA sequence actually happens you as a consumer you buy or you're you use the DNA test kit you do your swab you supply data to DNA sequencer they do the sequencing so they have their algorithm they have their mathematical models they do the sequencing of your DNA and they put the data in your wall so now you have a unique copy of your DNA sequence is in your vault only you have the data all of us do actually all of us have the sequence all of us have the data in the world because we all did the swab imagine how much the insurance company medical insurance company or pharmaceutical company would drool over this data if they could get all of it so obviously for clinical studies they want to find candidates that match their clinical study at the best of their abilities so they find yet another player we introduced to this marketplace which is basically a machine learning algorithms companies that provide analytics across this entire ecosystem so these are basically Google's think of them as Google's of DNA so the pharma company let's say conducts dimer Alzheimer drop test they want to find candidates for their clinical study so they have the idea what what DNA profile would best match their interest they want to find perfect candidates the machine learning companies can go now and providing that this bolts owner would wish to participate in in in such a search they would provide access basically to their world and ability to search through their data as the result you would identify the machine learning companies would they identify the candidates and offer them to participate in the in the study and obviously participant can accept the offer and get included in the study so all of us can do it so as a result we basically created an ecosystem of the participants where due to having this vault secured vault and have a complete access to the content of the world and being able to share this count across the ecosystem we created a market for all new players reducing the cost and improving lives of people getting medical study medical tests more accurate behavior based out of policy similar model we all have our walls we have our DNA data in it your car becomes now source of the data the way you drive the way you accelerate think about how much insurance company would pay to know how much you're driving today they're doing sort of an approximation and they're actually figure out their risk profiles but it's very it's very approximate the your your your Tesla car would feed your you would feed your driving patterns it would feed your brakes acceleration it would know if you drove 60 miles per hour in a 45 mile zone it will have all of this data inside all of us will so now not only it's the system of DNA records it's also system of your driving records which is basically your DNA you're driving DNA so the story goes the same way insurance companies our insurance companies would like to find perfect candidates and perfect pricing for their for their policies how do they find it they ask machine learning companies finally the people in in this area that drive their save drivers I want to offer them personalized insurance so this is basically an opportunity to do so candidate selected candidate accepts offer companies sold sold insurance so yep another example you can go on and on and find a lot more models where the system is relevant the point here is that we're creating marketplaces it's a new it's a new kind of a new kind of business modeling platform where you can create relationship with we're doing multiple parties and use this data consumer own data in the middle with the complete control over over the content so it effectively offers new business models it's compliant by design obviously they're important in this setting because the customer has a control over its data and as a choice who the data gets shared with by definition it's a it's a design it's a compliant by design these models improve people's life they offer more accurate drugs testing you will get better better insurance quotes this what makes us very excited about these models this is why we get engaged this is why we're involved this is why we're building technology to support these business models and we have a few examples where we've done this very quickly about us we're in Palo Alto California we're about eight years old company 450 employees specialties and machine learning decentralized technologies and cryptic security that's about us thank you [Applause]