10 enterprise blockchain startups to follow in 2019

10 enterprise blockchain startups to follow in 2019



then on my way home I met this guy it was not so shy you think it's bad but I don't fool myself you think it's odd cuz in my life and my life alright hello everyone and welcome to the Columbia IBM blockchain accelerator demo day we're really excited to have you all here we're gonna get started now I'm Jules Miller I'm a partner in the blockchain ventures group at IBM and this is what we're gonna do today we've got an exciting three hours for you we're gonna start right now with reaction from our head of IBM blockchain Murray week and then we're going to spend a little bit of time telling you about the accelerator programs that we launched with Columbia University and then you're gonna hear from 10 incredible growth stage startups about 10 minutes each and then we're going to announce the new companies that we've just selected in our launch program which is our earlier stage startup accelerator program and then we'll wrap up and have lunch and do meetings for those of you in the room we have information around about Brella I'll share a little bit more details later but this is how you match with meetings with the startups that you see presenting today or other people in the room so we'll share a bit more information on that so with that I'd love to hand it over to Murray give you some insight on IBM blockchain thanks Jules hey everybody pleasure being here I've heard a lot of great buzz already just this morning on the feedback from the accelerator participants and we're really excited to see how they progressed in the last couple of months of the journey but I was asked and some of the accelerator teams already heard my comments on the market but given the broader group here we wanted to give you just a quick highlight on what we see from an enterprise perspective and from a community perspective around blockchain so just quickly if we think about the market opportunity there has been certainly a very strong start with blockchain still a lot of enthusiasm a lot of momentum and all of the metrics really started you know with the biggest concentration of activity around the financial services space but you can see just progression by year financial services 25 percent of banks using it by next year is one of the forecasts by 2021 the US will have 2.3 billion an estimated technology spend continuing to grow ten percent of the global GDP is gonna be related to blockchain in terms of the trade component and by 2025 176 billion Gartner is estimated by 2030 it's three point one trillion so the market opportunity is huge but you still hear a lot of questions about where are we in terms of actual activity real production you know what's happening in terms of that market impact now and we've been in the blockchain business as a unit for now over two years we've been working on blockchain and IBM for about five and you know my chronology of events 2016 was all about blockchain tourism it really was sightseeing a lot of noise but not a lot of real activity particularly in the enterprise space 2017 all about pocs about education about learning what blockchain is learning about choices last year we saw the real beginnings of a lot of production networks that are now live and this year I think you're going to see a tipping point around the magnitude of projects and how they interconnect in order to accelerate that flow and that's kind of the notion behind the accelerator and behind what we do with the garage is how do you act we connect the dots and our strategy is actually a full-stack strategy you know we fundamentally believe any new technology has to be centered around open source it has to be an open ecosystem it has to be open governed and we actually started on aetherium but decided pretty quickly that some of the things that our enterprise clients we're looking for needed more capabilities particularly around you know permissioned access particularly around having options that didn't include mining and really focused on some of the smart contracts so we've been involved now since the beginning with the hyper ledger community and have a very big investment in multiple projects but certainly in hyper ledger fabric as our core foundation which is the basis for our blockchain platform which if you've been following the news in the end of last year we announced blockchain everywhere we think if this is a distributed ledger you need to meet people where their data is and if that is on somebody else's cloud if that is a private cloud if that is a node that you want to put in a different location we need to be able to support that and we've enhanced that strategy with our version 2 which is now out and it just provides a basis it's not the only thing we see we do work with sovereign we do work with stellar we continue to do work with the etherium community particularly around hyper ledger borough how you can take smart contracts from aetherium and run them in a fabric environment so again our whole view this is a team sport you got to meet people where they are and you've got to then provide the connections we think that is accelerated when you're all on one standard platform and one standard technology because of the ease of extension but ultimately that's still all the plumbing you really want to get into the solutions what are the things that you want to transact and how do you actually want to drive that engagement and that means we complement the development of our own solutions I'll talk about a couple of them very briefly with you building your own solutions and if you need help through our garage or through our services teams we can certainly do that and then bringing the ecosystem whether that's other partners ISPs startups obviously the academic community how do we really connect those dots and we play in all of those you know not necessarily together you know so depending again on where people are how they can enter into some of our programs and to date we have sixteen hundred people around the world working on blockchain in IBM not counting the broad ecosystem partnership we have several thousand now networks running on our plot chain platform we've done direct engagements with about 500 of those on specific solutions where we're helping them in you know a wide variety of industries the primary ones tend to be in the financial services space especially around trade in insurance in healthcare and in supply chain broadly and over 100 those are active so our transacting leveraging smart contracts exchanging information driving those connections and we've learned a couple of things that guide all our activities in terms of you know what are our beliefs when it comes to blockchain we still fundamentally believe that it has to be open by design as a platform and a community and in spite of the fact that this is a shared distributed ledger that you have to have some understanding of your data and how it is being used permissioned writes who gets to see it do you prove how do you balance the mix of sharing data and privacy of that data how do you make sure you are really not leveraging pie or impacting GDP are so there's a lot of elements in terms of both the governance and the community activity that we think is pretty fundamental and it does go back to this notion that in a distributed ledger you know everyone and therefore no one actually controls the blockchain and that gets to thinking about governance so we've done a lot of work we've put out a fan founders handbook what are some of the operating principles in terms of how you form your network whether it needs to be permissioned or fully publicly traded how do you establish governance rights who gets to side who joins we firmly believe you should put those networks into a registry so that everybody can find them whether they are public or permissioned to me the difference is not public versus private it really is are you adhering to a model where people know who they're working with and how their data is going to be used and and the last point is this notion that most networks are focused on a specific type of data with a specific smart contract in terms of what you're transacting but once that is there the connection of networks of networks and interoperability between networks is a critical thing to drive an accelerator effect across the industry and in that regard we've kind of seen three patterns I really see a notion where all of those networks tend to be about the flow of goods the flow of data or the flow of value and the flow of goods typically is related to some kind of provenance topic that you are leveraging the immutability of a blockchain to discover its history and its lifespan and provide some kind of guarantees was this sustainably grown was this really organic was this a genuine article if you will a trusted source for the information that's related to whatever goods or services are being tracked the other is all around data and the digitization of data which is not really just about you know digital rights management for software or other electronic assets it's all the documents that actually pertain to the assets you may be tracking the Bill of Lading the title the warranty the software license all of the pieces of paper typically that we use to record who owns what transaction was associated with which set of goods and that's a good indicator anywhere where there still is a lot of paper that hasn't been digitized good opportunity for elements like that and finally you know the flow of value once you've made that transaction once you've transferred those goods once you have done the clearing and settlement where is the flow of money associated with that and again right now those all tend to be separate networks separate use cases separate instances perhaps even on different DLTS depending on the type and what's needed and a couple of examples of those just to put it in context trade lens is an effort that we started with Musk the world's largest ocean shipping carrier about the digitisation of trade data one of our initial use cases to see about the viability of this studied a couple of different you know shipments and 80% of the world's goods actually flow on an ocean so there's a lot of this going on we looked at electronics going from Europe to North America we looked at flowers going from Africa to Europe we looked at mangoes going from Mexico to Europe on average those you know flowers mangoes low value Goods perishable goods we're spending more time in the ports than they were on the ocean and some of them had over 250 documents or emails or pieces of communication that went along with the actual container and they provide all sorts of information for customs phytosanitary certificates you know bill of lading all of the things that that go along with that shipment but the handling and processing of that estimated between 10 and 20 percent of the cost of a single containers actual shipment you know so can you digitize it can you then provide it to everybody that needs it and can you ensure it hasn't been changed you know take actually a physical document scan it hash it put it on the blockchain you know it hasn't been changed at all in the course of that journey and you can use it for sharing in a lot of other places it's a good example of that data flow which becomes the ultimate view of can you take the contents of that container out of the port and continue it to last mile food trust another project we actually started this one working with Walmart looking at particularly the issues around food safety and traceability we've had a lot of issues in the United States last year with romaine lettuce as one example over 480 recalls of food last year in the US alone and it's hard to do across a complex supply chain and the provenance of where did any contaminated food come from so that you don't have to you know throw away the entire romaine lettuce supply is a big important issue including for individual health and this is really a provenance solution where again we looked at pork from China we looked at mangoes from Mexico and we did a comparison traceback test where Walmart who is outstanding at supply chain integration did you know kind of an instant recall test on mangos and to trace every every one of the transactions back to the source and that supply took them over six days and we were able to do it on blockchain and provide other data besides where did it come from in just over two seconds so that you know really facilitated a view that provenance use case it could provide a lot of value for a health and safety issue but once you had it what could you do in terms of inventory management in terms of freshness in terms of how do you actually optimize or look for sustainability that network has grown now has over 60 members and Carrefour as an example in Europe is using it with a mobile app to provide consumers with the ability to trace their food for private label chicken to start and to feature sustainably grown free-range chicken and it's driving a lot of interest and discussion among their consumers and with their brand again a good example of that of that flow of goods where is it coming from how do I guarantee its authenticity what do I know about it in terms of is this something that I want in the in the flow of data leading to now flow of goods now what about payment so two other examples we trade big Network now over 14 banks in Europe focusing on trade finance and specifically with small and medium businesses it started actually with an example of financing from for a potato farmer in the initial pilot and how could they make that much more accessible and readily available and ensure that there was consistency because typically you take one of those documents like I you have an order from Carrefour from Walmart and now I want to use that order to get financing for other goods knowing the payment is coming well what if you actually you know the double spend problem that blockchain definitely addresses what if you took that same invoice to multiple carriers if all of the banks are now collaborating on a common set of documents and a common set of financing you can reduce that cost make it much more accessible and then once you actually have you know the payment once you have the goods you want to pay for it and pay for a cross-border we're doing a lot of work at the top level with the banks on major currency rails for foreign exchange with CLS we also have our own offering called World wire that is looking at the long tail of all the other currencies for remittances when somebody want to send money back home out of their paycheck to their mom in wherever country they may have brought that and again the ability to use a public network in this case for clearing and settlement of a token or a stable coin in order to provide clearing and settlement all at one time reduces a lot of cost and friction and makes that much more affordable so just a couple of examples you know the ultimate answer we see is connecting these things you know that the farmer growing the potatoes can get their trade finance they can trace the origin of those potatoes which were manically grown to the distributor to the retailer they can ship those goods in a consistent way with the same set of documents they used for the financing you know on delivery confirm receipt and drive payment that notion today are all separate sets of of both participants and players but if you connect these dots that can get a pretty interesting expansion and flow of value in total and you know we've seen a large number of the networks as I mentioned over a hundred of that are live active transacting in this regard right now what were some of the success factors one was to be able to start really quickly low cost easy access to the technology to actually test their ideas and we I'll mention it again but we tend to use a model that many of you have participated in here with a garage method that says you know focus on an MVP that really tests the use case of the idea you want for blockchain and is it really something that needs blockchain you know we do get a lot of ideas that you can do with other technologies that aren't necessary and once it does then don't just focus on the use case but focus on the ecosystem the hardest thing in blockchain is not the technology in general we wind up doing very successful POCs with a wide variety of use cases in three to six months you know the participants here we're going for three months on an already formed idea to try to accelerate it but the notion of an mve what the Minimum Viable ecosystem of who the participants are you are trying to connect with on your network who needs to be peers how do you get value for all those participants and how do you actually decide the governance model for adding more members for value creation for pricing models across those different participants that is typically the hard part so you know proving that the technology is working is one thing proving you have a business model that works that will get a tipping point of the data you want on your network in a financially attractive way for all those participants doesn't have to all be the same but they all have to see value that's pretty critical and that leads to this notion of you really need trusted expertise in terms of not only the technology but that the business dimension you're focusing on what is the industry use case how are you disrupting it do you need to change a set of processes does that trigger a set of regulatory changes that may be necessary downstream you know how do you really think about that broad direction across the skills you need to bring to bear and then how do you actually convene it assuming you prove out your mve then how do you get to scale and in general we would say a tipping point occurs when you have 40% of the data on whatever topic it is you know be it mangoes be it FX trades be it whatever you have to get to a critical mass in your region in your product in your industry in order to get the kind of economies of scale and impact you really want to see and how can that be done with which people do you need you know sometimes if you can use an industry organization to bring people together independent of blockchain that can have an accelerating effect sometimes your partners can be that Channel to get that accelerating effect but think about all three think about how you're gonna scale it think about who participates and what value they get and then what the convening power is and who has that and again we think a notion of the garage method is something that isn't just about the technology it's about you know the culture it's about rapid innovation it's about really driving an agile methodology not just in the technology but in your business design and where that is needed you know we're happy to help so you know in closing here the whole notion I'll come back to you know blockchain it is a distributed ledger technology it is a team sport that requires a new level of collaboration that most people don't think about in terms of the time and the cost to get to scale and to get to value creation and you need to be thinking about that but if you can naturally naturally leverage connections with all the other pieces that are already out there you can get some of that convening some of that acceleration by connecting with services that are already provided so in many of the cases that we talked about today api's on those networks so that you can get at services that could help extend the value of even your networks is again another aspect that we think is critical to an open ecosystem so we are here and we're really happy to both see the participation in this program but you know in the industry at large in terms of the interest we're happy to help in that way and I want to make sure we also share I know they're going to be talking some more later but this has been a collaboration and a team sport in a new way as well last year we launched the Columbia IBM Center for blockchain and data transparency with three missions how do we advance the state of the art in blockchain in terms of pure research with some of the great folks at Columbia how do we extend the skills in the industry because I would still say there aren't enough people who really understand blockchain anywhere in in the world we happen to be lucky with a very good supply here in New York but that is not true everywhere so how do we get really great curriculum we provide a lot of education online but deep curriculum that can get you to a real mastery level of blockchain is something that we're also working on and the third piece is you know I'll be really happy when the day comes where nobody talks about you know is it blockchain is it not blockchain it just talks about the use case like forget all the hype about blockchain let's get into what are we really doing with it and in that regard the third leg is an accelerator program to help entrepreneurs to help the community to help make activity happen here in New York but also to extend that with lessons learned throughout the rest of our accelerator program so a big shout out to the team at Columbia who has been a great partner of ours in this whole journey and thanks to all of you who participated so I'm going to turn it back to Jules and thanks very much for coming Thank You Marie all right so now the fun part so now you get to hear from startups and that's why we're all here so Dave and I are just gonna give you a little bit more context about why we're doing this and what the program actually is and then you'll hear directly from the startup so as you heard from Murray we're not here talking about the hype we're not here talking about what could be in blockchain we're here talking about the reality of actual businesses and actual use cases that are happening right now in blockchain our focus all of these companies are enterprise focused companies with live products in market with paying customers who are scaling quickly so this is all about making blockchain real for business these are networks you can join today as Jules said this is not something that's hypothetical so it was really interesting we were sitting as a as a group looking around and the quality of the companies and the overall people that we met through this has just been fantastic and I thought to myself where are we going to be three years down the road because my guess is is that some of the companies you're gonna hear from today are really gonna be the ones that define categories and when we think about blockchain there's obviously a couple ways is worried you know alluded to you can talk about technology you can talk about services or you can talk about networks so if you look across the spectrum of marketplace businesses out there they're primarily consumer business to consumer there isn't massive at scale business-to-business marketplaces that currently exist so I think that the com you're gonna hear from are going to be these generation of businesses these industry platforms they're gonna provide companies and broader ecosystems with entirely new ways of transacting in the in and in the process create substantial pools of value both for the companies and for the stakeholders involved so as we've gone through this process and it's confirmed to me that we're at the start of something pretty exciting and the group of people that we've had the real privilege to work with in the context of the accelerator I think are gonna lead the way and we are really looking forward to working with all of them to make it happen it's going to be a really big year in an exciting year and it's not just startups that are actually using blockchain technology it's not just the innovators we've got 66 percent of organizations are already actively experimenting testing using blockchain so this stuff is real it's happening and we think there's a real value to partnering with startups and larger organizations like IBM and hopefully some of the folks out here so we've created a new group called IBM blockchain ventures and basically when you think about accelerators a lot of time there could be multi purpose general so companies want to expose entrepreneurs and startups to their technology and yes that that's the point of this program to some extent but we are very interested in building businesses because we think that entrepreneurs are going to really lead the way with that really hard you know substantial focus putting everything into it to really build out these networks so this program is really with the purpose there with the network program and also for the launch program you're gonna hear about it's identifying ways that we as IBM can partner with our to preneurcast or our in the audience it's our intention to do more of these so we are opening to partner in a new type of way and the way that we want a partner is to leverage everything we've learned from the 500 block chain engagements from operating our own networks to help entrepreneurs scale businesses and scale them quickly that's what we want to do it's and this is you know the mantra is here is everyone in the accelerators told me got transaction volume that's that's the metric that matters can you share entities transacting on the networks here's a shirt so it's a new about new method of partnership you know you can you know anybody who you know we're open to hearing from folks who want to continue to work with us or have an idea and as I said we're gonna be working closely with the companies in this cohort I think to build some really great businesses this year so let's talk about the cohort so last year at the end of last year we launched two programs with Columbia University one you'll hear from the companies today that are just finishing the network program this is for later stage growth companies that have a product and market they're the best companies from around the world so we have an international group it's not just based in New York not just based in the US and they all have a working product paying customers and our scaling and the focus of the program has been what is your blockchain business network who are the other participants and why should they want to be involved so we went through a pretty rigorous curriculum that I'll share a bit more detail about in a second and they're gonna share the results of that today so let's share about ten minutes of what their blockchain business network is and who should be joining and how that works also we're excited to announce and hear some introductions from the new companies that are just starting next week for our launch program which is for earlier stage entrepreneurs who are proceed like idea stage companies and we're working with them over eight weeks they're based in New York they all have an affiliation with either Columbia University or another New York based University and we're helping them actually build and grow and launch their blotching products and networks so you'll hear you know you're a teaser they haven't even started the program yet so we're just gonna introduce them and if you're interested in working with them more as a mentor advisor please let us know and we'll match you with one of the companies all right so for the folks in the room this isn't just about listening to presentations we want you to be talking to each other and talking to the startups that are here so we are using an app called Briella and here are the instructions there's also flyers around the room so please download Brella on either your Android or Apple app stores and then the password for this particular one is IBM blockchain module three so please do that and you'll see profiles of everyone you can schedule meetings and makes it really easy to base connect with the other folks in the room and sorry for the people on the livestream not for you alright so we talked about a little bit but the program criteria for our network program for later stage growth companies was they had to have a blockchain product right some of the companies here you'll see our blockchain native companies meaning they only do blockchain and that's the core of their business some of them are existing businesses that have a new application that is built using blockchain so it's a little bit of a mix and I think it's an interesting mix that we've learned a lot from everyone being together in one room we've got really strong hunters here and they've almost all of them have pretty substantive funding it ranges from about 1 million to 100 million in funding of one public company as well so you'll hear from them traction has to have actual revenue actual paying customers and you know we get a lot of people saying like are there actually any you know revenue forward blockchain companies in the enterprise space and they're actually quite a lot and these are the 10 best that we've seen in the market and we did a lot of diligence a lot of how many applications did we get we had so it wasn't an open application it was a nomination process so we had we're tracking a couple hundred companies we had almost 100 actual application nominations and we picked at this the best companies from that that group but there's a lot more out there that are growing and that will be forces to be reckoned with in the next in the next year or two all right we've taken them through three modules so first module is on product we want to deep dive into the blockchain product development architecture workshops business value design you'll see the results of some of that in these presentations we did module 2 in San Francisco around our annual IBM think conference and we did focusing on token economics and really founding it and grounding it in existing economic principles and we had them all speakit think as well so we've got some videos we'll put on the social media too from there and then the last module which we just finished yesterday is on governance which is a really critical piece of especially permission blockchain networks and so we did deep dive on legal structures jurisdictions election lots of governance and tax issues and all the good things to make sure that it is ready and we're thoughtfully thinking through why members want to be part of these networks and what the benefits everyone is and how it works and how the governance works and why people want to be involved in these networks also we're really excited about the diversity of our founders got thirty percent of the founding teams women sixty percent are people of color ten percent military veterans and they've raised a million to one hundred million in funding and geographically we've got thirty percent international seventy percent us places like New York Paris Toronto Los Angeles San Francisco Greenville South Carolina very diverse yeah yeah Greenville and so this brought a lot of different perspectives and it also emphasizes that good blockchain companies are being built everywhere and we want to make sure that we're tapping into that it's not just a looking rally and not just us so here are the ten companies and this is the order they're presenting from the left column than the right column so if you have a particular company that you want to see this is this is how they're going so they'll tell you more about each of these use cases but the other thing that we're really excited about is that there is a wide variety of use cases here and it's not just fin tech it's not just like one category there's huge diversity and what people are building and what blockchain has applications for so we here form from them there yeah and I just just I think that we're kind of in in any one or inning to of this industry so as you're hearing about the blockchain networks they're gonna tell you about a specific use case this represents a starting point so as they're thinking about what use case they want to use to get that transaction volume which is the lifeblood of any marketplace allow yourself to imagine the possibilities both what the second use case might be what the third use case might be what the fourth use of case might be and also how they might expand horizontally so if you hear from Tiger trade about the authentication of clothing what would that mean for furniture for luxury goods so these these are the starting points in the starting point has to be about transaction volume if you have market participants that are interacting with each other and doing so systematically then you can find all sorts of way to create value so as we started this program our observation was there are no good shortage of blockchain ideas that have promised what there is a shortage of is blockchain ideas that have transaction volume so keep that in mind is we go forward and leave it up to you to think to see which one's you think will get the volume and what the implications are going forward yeah so with that we're gonna kick it over to the founders if you want more information or to sign up for our newsletter go to IBM blockchain accelerator com please tweet Facebook posts socialize anything you see here feel free to take pictures on Twitter of you tag at IBM blockchain that would be very helpful and you can use the hashtag IBM blockchain accelerator so with that first company up world from bandwagon I was mention one more thing is that there is QA so for the folks on the livestream and the folks in the room at the end if you've got questions it'll be short Q&A so just get up there real quick and then we'll ask some questions for the companies so there you go Harold all right so good morning everyone my name is Harold Hughes I'm the founder and CEO of bandwagon from Greenville South Carolina well before that I'm a sports fan and I'm music fan and a performing arts fan and like most of my team we really care about being in the venue there's just something about being a fan right seeing that game winning touchdown hearing the encores your favorite band comes back onstage there's just nothing like being there however live events are under attack fans are craving unique experiences the cater to their personal desires and the opportunities to connect with one another regardless of their background I think about my time growing up as a first-generation American to jamaican parents and how sports really unified people of color people of different religions people different socioeconomic statuses because we're on the same playing field when we truly believe that fan hood when you're in the live event does the same thing we love how we can connect people together however that's really difficult to do when you don't know who's in the venue as sports organizations festivals and every other type of event organizer works to trying custom and curate that experience we want to focus on building something to helps them do that so today for the first time ever we'd like to introduce hora hora is built by bandwagon to help event organizers know who is in the venue and connect with them deeply understand the insights that are going to get them to come back again and again and provide unique and curated products and services to make that experience a once-in-a-lifetime one so the former CEO of Ticketmaster Nathan Hubbard said this and I think it made so much sense we have to know everything about 100 people going on an airplane but we don't when there's 100,000 people going into a stadium so naturally I'm sure that your mind goes to safety and you think about that but let's look at the larger application by no one who's inside the venue you're able to curate that experience you're able to offer the right products and services you're able to do engagement with marketing and so that's what we really want to focus on it's fan identity at the unit level and being able to create macro solutions so the current ticket process is pretty straightforward as most of you all here probably had to register buy a ticket to some event you've been to recently fans go to a website they put in their information they receive their information their tickets for events that they can't make it to fans often are able to resell their tickets on a secondary market from there the fan ends up attending the challenges that fans are buying tickets on marketplaces that have no idea if these tickets are real which means that the event organisers have no idea who's actually showing up we've talked with NFL teams Major League Baseball performing arts and hearing identity information where teams no less than four percent of who's in the venue on the day of the event so when you think about all those cheesy during the event marketing activities or when you think about all that spam text messaging and emailing that you're getting because they don't even know that you're there or what you like so the current ecosystem is extremely fragmented if you think about the industry players take a master StubHub C gig Vivid Seats all of these folks have built an incredible business on building a platform around their product distributing tickets the challenge is is that in most cases they're not connect they don't talk to each other which means a ticket can start on one ticket marketplace and move into another seamlessly without anyone knowing the wiser which creates a challenge for actually no one who's in the venue introducing our network that's powered by aura that network is actually connected so now ticket companies are able to check not only the authenticity of these tickets but the event organizers are able to know who's in the venue and how the demographics of their stadium change day after day as tickets change hands so why blockchain which I want to go ahead and get in front of because that's the number one question everyone thinks as they do this the challenge right now is that each of these ticket marketplaces and each of these venues each of these stakeholders has their own unique database has their own system and they have their own customer information and for us we wanted to make sure all of that stayed intact so with our blockchain solution all of these business rules and logic is set forth are able to stay in place meaning you don't have to change your architecture you don't have to change your customer flow but by participating in our blockchain network you're able to contribute to the blockchain and have your information be more rich so that allows us to have a more safe simple and secure platform our ideal partners are event organizers like sports organizations festivals concert artists as well as ticket companies so you think about the initial ticket that's created as well as the secondary market and brokers and aggregators as well lastly we think that the next level of this activation is really going to focus on live event stakeholders so who are those folks those are concessions merchandisers different people who are gaining fan insights on who's in the venue the activities are taking place in and what means the most to fans our revenue model is really straightforward we charge a licensing fee directly to each event organiser and that ranges from $10,000 to $100,000 based on the unit volume of the amount of tickets that they're transacting our partners today are some of the most well known industry leaders whether you're national champion Clemson University my alma mater IBM and Columbia universities were thankful for their partnership and hosting us for the accelerator as well most recently the University of Texas as we're working with their team to look at tokenization there you go got my friends here from Austin looking at tokenization as it relates to fan hood so when we think about the future I want to come up with a new version of sass I think about Stadium as a service where stadiums are actually the platform on which event organizers are able to deliver value to their fans and so that's what we want to build and as Marie mentioned earlier we're focused on connecting the dots and so when you see with our new branding with aura that that's really what we're focused on we're really trying to connect the dots whether you start from buying the ticket to engaging inside that venue and everything in between so today we're looking for anchor members and these anchor members we're expecting to have the most innovative leaders in your respective space industry leagues to understand how we can unpack this and create the governing rules that are really going to help make the network participation robust as David said earlier we're looking for transaction volume and we willing to understand that the most important piece of that is having key players at the table early as we set those rules in place so that is our presentation for today I'm really excited about what we're doing I'm happy to be greeting you all from Greenville South Carolina and talking to you about the future of fan identity as it relates to making better visibility into who's inside venues everywhere thank you Thank You Harold we've got about three minutes for questions so I'm gonna kick it off with one that I know we've talked about in the past which is you barely say the word blockchain in your presentation and I know you don't say that a lot when you're talking to customers like do you need to tell people that it's blockchain we don't think that you should primarily in the fact that blockchain is an infrastructure level solution and so at the same way that folks don't tell you that they're at websites powered by Amazon we expect that the solution be should be able to take care of itself and so we want to be an enabling partner we want to be a quiet company that's in the background that somehow worth a billion dollars and we really are focused on that and so that's why we make sure to focus on the solutions that we enable stealthy Melfi not out there trying to get your valuation up with no actually okay building a real business and delivering that's novel questions from the audience great thanks Harold just a quick one could you talk a little bit more about I know you mentioned stadium as a service but could you just talk about once you know you guys are scaled up in a few years how you anticipate the sizing of the different kind of revenue opportunities is it kind of more on and then you buy venue basis or are you trying to get in with some of the organizations that have multiple geographies how do you think about that you know licensing versus kind of ad hoc revenues per event thank you can you say who you are oh sorry Evan Fung Thank You Evan I appreciate that so we started out primarily starting with the platform we do think it's scale we will be charging ticket companies a transaction fee to validate every ticket so you can imagine for an example standpoint if a ticket is created in ticketmasters ecosystem and then now all of a sudden that tickets listed in StubHub zico system step up doesn't know where that ticket came from or any information so all of a sudden these two tickets are now listed there so we'd want to be able to charge a transaction fee call it five cents 10 cents 20 cents to where each ticket marketplace can say hey these two tickets just showed up on our website are they real and that checks the blockchain it says yep they were authenticated and created minted on this day and they say okay fantastic is this person or this entity because it's obviously encrypted the owner of that ticket yes we see that and it's correct here okay lastly are there any restrictions on its ability to be moved whether resold or price-fixing or any of that stuff okay all that is tied in at the asset level so we see the opportunity to chart the transaction volume from there and with Aurra we're actually looking at building into this more products and services our second customer was actually an International Film Festival in Johannesburg we worked with cueca Mandela and they were really trying to figure out audience insights so once we can tell you who's in the venue now we're able to work with some of the Facebook pixel product to tell you information about them brands that they prefer and so on and so as a March 1st we actually just opened up our round and so we're actively seeking investments anyone that's interested in learning more about us and bandwagon what we're building as the clock counts down to zero please find me or any of my awesome team members in the back with the black or a shirts we appreciate it thank you for everyone that's come out and we look forward to talking with all of you soon thank you Harold alright good morning my name is Randall Crowder I'm the CEO of fun where we're based in Austin Texas we also have offices in Newport Beach San Diego and Miami we live in interesting times you know technology is all around us and I can't help but wonder this technology serve us or do we serve it and if we serve it who's really benefiting you see I think we've sold our digital souls for dopamine for likes and followers for you know memes and selfies you know we've allowed ourselves to be exploited and the insidious thing about exploitation is the powers that be that usually number very few that extract the most value from us they've convinced us that it's normal that it's okay that we shouldn't question it until people start to actually question it and say enough is enough and that's starting to happen when it comes to data when it comes to privacy you know we live in a post Cambridge analytical world a post Experian hack world and thought leaders are starting to step up and say you know something's wrong here you know data should be a human right privacy should be a guarantee you know corporations can kind of sense the the winds of and changes in the air and they're starting to kind of get out ahead of it they're starting to talk about insuring these things like privacy and even governments are starting to you know react leaders are starting to talk about you know not only should day to be something that you control but you know if there's somebody being paid for data you as the source of that data you should be kind of cut in on the deal on the economics and this isn't just social change for social changes sake there's a very real commercial implication here you know brands have been trying to engage consumers you know since the dawn of you know modern advertising and I always love this quote you know half of the money I spend on advertising is wasted the trouble is I don't know which half that's been a problem for over a century it's still a problem today this is demo day so you know make sure this camera is on let me give you a quick example of how marketing today really works so here's your marketing team this is how marketing works and I'm just trying to throw money at the problem now part of me wanted to say that I came to IBM and I made it rain but reality is that's actually what's happening today brands are just throwing money at consumers and they're trying to find you know a fit they're trying to you know reach out to you and really the only game in town is these data oiligarchs like Facebook and Google and it's this black box approach to marketing that just doesn't work its raw life with fraud waste abuse and that's when entrepreneurs start thinking there's got to be a better way there's got to be something else we can do now you start here in the middle stand up real quick what's your name of Matt Linden Berger Ellenberger he'll do Matt 4040 what do you drive Tesla ooh Tesla Lisa bye bye all right if you're gonna buy another car in the next say five years realistically speaking about a Bentley or a Rolls what would you buy all right well hey I appreciate your time here's $10 see what I did there I didn't have to troll his Facebook I didn't have to turn on a microphone and his nest thermostat but I didn't tell you was there talking to you Google I just went to the data source and I still a few questions and I got information that was valuable to me I paid him for it that's how the bottle should work and that's why we've built fun coin it's a blockchain enabled data exchange and mobile loyalty ecosystem and the reason why that's important is you can finally remove these data oligarchs in the middle that operate as these insidious central authorities and you can replace them with imagine that the user the source of the data brands and these data oligarchs should come to you it's your data you should control it if you should decide you know how and when it's shared and if anybody gets compensated for it you should be cut in on that deal makes sense right it's fair so let's take a look at an example say a large cruise line that we might work with you know first we want to know work with a large enterprise to build your audience to really figure out are you reaching the right customer and so when internally to us we have what's called a knowledge graph it's how we curate a lot of big data and we make that actionable data so we can look at a lot of different things that make up a user's data make up a user's profile and we can blockchain enable that and that's important because there's something called self sovereign identity so we can verify that that activity that digital representation of you is actually you that's very important to brands and so we can look at you and say you have a certain combination of travel apps on your phone you've maybe gone to certain locations that are important to the brand maybe you went to Disneyworld and you know the Cruise Line thinks hey anybody that went to Disneyworld would be a great target to go on a cruise so we use that to build your audience in a thoughtful way so that we make sure the right brands are contacting the right consumers and we don't bother with people who may be not interested and that's when it gets really excited once we're actually having audience built for that brand we don't know one thing we've been working with enterprises for a long time and the one thing you don't want to do is ask an enterprise or their customers to change behavior to download another app to install another browser so what our engineers came up with is a very elegant solution we have an SDK for those you know notes a software development kit we can install that in an existing mobile application and that allows us to map and track what we call profitable behavior these are things that once a consumer – do we want you to share an itinerary with a friend we want you to book your cruise now we can reward you with cryptocurrency for taking these profitable actions they're beneficial to the brand now we're not a one-trick pony so we don't have just one SDK we have an entire suite of SDKs you also have something called a location-based services SDK which allows us to do very interesting things indoors think of it like taking GPS functionality outdoors and bringing that indoors for real-world interaction so we can start compensating users for say dwelling in a casino because they're degenerate gamblers and we want to reward them for that and so we can also do things like as you arrive at the port you know we have a cruise line talk to us and say you know if we can just get marketing collateral into the hands of passengers while they're waiting to board the ship they're much more likely to buy great well we wouldn't just put a brochure out or a sign that's 20 years ago technology we would actually hit them with a push notification once they park or while they're waiting in line we would ask them pay for a thousand of cruise going would you watch a video about all the wonderful excursions you're gonna have available to you on your trip today so now you're watching video of families ziplining in the jungle riding horses in the ocean your kids yanking on your sleeve going dad I want to do that and we say the video ends for another 200 cruise Coin book in the next 20 minutes and because you're also a member of our rewards program we'll give you 20% off another excursion of your choice so you're able to start converting customers at that decision point using cryptocurrency to influence that profitable behavior and just gain that mind share in that moment now you're earning all this you know cruise going I keep saying cruise going not fun point for a very specific reason we want to maintain that brand awareness we allow brands to actually take our fun coin and have a branded instance of it so that they can kind of keep reinforcing their brand in this case cruise coin but we also want to deliver to them a marketplace so you can use all that accumulated cruise coin and you can buy goods and services from that brand or you can cash out to an exchange if you want to go in a Bitcoin or do something else I know what you're thinking that's a lot you're biting off a lot you know why you why are you gonna be successful and I've said this a lot for anyone's ever heard me speak the future blockchain really like lies with real companies with real teams with a real experience launching actual solutions that solve real world problems and complement real-world business models and so you know fun where isn't you know three people around the world who got together on a Google Docs and decided to write a white paper and convince the world that they were a business call those launch burners actually we've been doing this for 10 years we built the first NFL app the first NASCAR app we still build and maintain the majority of Fox's mobile application portfolio we've been around for a decade when enterprises need mobile ecosystems built at scale and done right they come to fun where in fact that's allowed us to create a platform that sees anywhere from 600 million to a billion active devices a month we generate about 5 terabytes of data every single day we have over 150 phenomenal employees and we just went public on NASDAQ last December and so when I actually told this you know my engineers that we were gonna be doing a demo day at IBM you know it wasn't even even crossed their mind that you know it was gonna be some screen shares or hey you know can we get some some artwork done you know they're like oh we'll have the demo ready you know we'll have our SDK ready it wasn't hey go raise some money in ICO and figure out how to build something and maybe do something once upon a time in the future we actually have our SDK ready to go and we're ready to kind of start we're starting to talk to customers about it now and this is just a quick demo that I'll walk you through real fast say you have an enterprise this is what I was talking about with actually having to be able to integrate with an existing mobile application sign up we remember every time we're talking to enterprise you know engineers or their team will say like oh no how is this gonna affect us we say look keep doing what you're doing we'll integrate within your existing workflow this is just a sample app for spoonful think of it like recipes you can actually go through your sign in the same way let this load so think of it like recipes so you might you know share a recipe with a friend you could earn additional dessert coin for just sharing that recipe you can unlock recipes depending on how much you know dessert coin you have if you don't have enough dessert coin you won't be able to unlock it you have to earn or by doing things that again are profitable providing more information to that brand the neat thing about a lot of this is you've never had to download the fun coin wallet you've never had to do anything else you're just living within the existing mobile ecosystem of that enterprise application now once you want to actually take custody that's when you deep link to our fun coin app we'll send you back out that's when you would download the fun point wallet and then we would go through if anybody's been through the process with coinbase or anybody else you actually do have to go through a little bit of a you know a series of steps recovery phrase kyc and AML and these are important to brands yeah I think a lot of people look at blockchain and cryptocurrency is this you know very sneaky anonymous thing it's actually the opposite for enterprise it's being able to verify users is very very important you want to know they're actually reaching the right person so you can begin to reduce and minimize a lot of this fraudulent behavior so when you launch the fun point app you go through that process you're able to finally you know take custody of your cryptocurrency and you can also look at all the other you know branded applications that you're supporting and where you're accruing that coin you see even though the underlying asset is fun coin it's really you know cryptocurrency as a service you're allowed to you know brand these applications so you can kind of know who that loyalty where that loyalty is coming from and you know we set up we have our own wallet and then you know you'll be able to see the lat you go through your key phrases and the last this will go quickly last scene is really just the summary of all the anybody's ever done this before it takes a while so it's actually a relapse so we actually had to do this there's no way to shortchange it so this is literally setting this up confirming your recovery phase and then last but not least summary slide of where you've been accruing all of your fun coin branded is another coins and for the things you've done so with that I will take questions if we have time we don't have a ton time but I will do one question if anyone has a burning question on the resolution it's a really smart question I'm gonna make Matt to it he was a plan no it's not a smart question just curious what your initial target market is like what are the types of companies your first really we see a lot of this in retail and hospitality you know so we've already already worked with the win in Las Vegas we actually are working with a few cruise lines anywhere was a lot of foot traffic we want to bridge the gap between the virtual world and the real world so then when you use all of our software when you actually use that location tech you can really delight customers in the real world using all the information you collect in the virtual world and blockchain just becomes we couldn't do it with traditional Fiat like you know we were trying to think about how do we enrich our data how do we make our data better how do we make it actionable and you couldn't you know give out dollars and cents at scale across the board and so for us blockchain was a natural evolution of something we were trying to do anyways for our company and where we see that the most is kind of that where you see a lot of people you know congregating in any one area so like in a retailer we can introduce that same thing I was talking about with the videos you could be walking through a target you know cross an endcap and say you know hey you know we based on your purchase history we think this product on the end of aisle 19 will be great for you for a thousand Target coin will you watch a quick 15-second video on why it's so amazing and so now you kind of make take that infomercial light capability into a real-world setting so anywhere that's kind of like hospitality retail sports entertainment those are great fits for us because you have a lot of people trying to do a more delighted experience so thank you for bringing the best prop I've seen in a pitch there's still dollars in the front here and they're real so nothing about this is fake the demos real the products the money on the ground in Israel so thank you Randall thank you fun where and now we're moving next to Dan and Eric from IP we hey good morning my name is Eric I'm the CEO of IP we and I'm here with Dan one of our co-founders who's also happens to be our CTO so IP we is a relatively simple idea it's a place that you get information and transact in patents so good news is simple bad news is it's boring patents are simply boring so until you take a step back and you start to think about what the implications are how many billions of dollars are spent on obtaining and maintaining them and all the cool things that happen with them so you've got billions of dollars invested for most companies it's a material part of their balance sheet somewhere over 70% is typically intangibles and about 30% of that'll be patents and then when you start to dig in a little bit further there's actually no agreed-upon metrics as to how you measure the performance of these things or our eyes and whether you measure ROI by dollar return your measure are away by how many deals you do you measure ROI by how many jobs you create or how many critical essential innovations you create just not there and then oddly enough that the lack of transparency is often missed is a virtue so represent a massive investment but massively underperform as well so one example in one of the first things we did at IP we was there are 200 patent offices around the world independent government agencies done by jurisdiction that issue patents and there was no one place to get all that information about the world's 20 million patents so we built it on hyper ledger interesting thing about 2% of the world's patents ever transact so 2% of that 20 million and only 5% of the patents ever find their way into a product so again massively underperform but big market about 180 billion dollars a year in just licensing and acquisition transactions so I pee-wee's built an enterprise application built on IP IBM's blockchain that tries to solve this problem so it's a multi-sided platform and it's based on some critical pieces for that so first is ownership and we just talked about it before IP we 20 million patents two hundred offices no one could go to one place to find out who owned a particular patent so we built a registry on blockchain that solves that problem second is analytics so we've spent the last ten years building different machine learning algorithms to help discovery of patents and we'll soon we'll be adding AI from IBM's Watson toolkit to help members find patents and even more importantly get a common insight on the value of that asset and then next we have IP we smart contracts so we'll use smart contracts to help the market be more efficient we can enforce agreements we can automate payments we can help manage the licensing rights on the platform and all those pieces allows us to do a number of different transactions and these are the ones that we start with so on the platform right now you can buy sell and license patents we have about fourteen million dollars and offers right now you can do patent financing so we can get capital into the patent portfolios hands based on their portfolio we've done about two hundred million dollars in financing deals the average is about twenty five million dollars and we're from fortune 100 companies to SMEs different insurance products for title insurance validity insurance and then we're gonna help with the annuity payments we're gonna give control back to the patent owners and the lawyers to reduce the complexity of that and make it more transparent for what they're paying for so we think this single platform is going to help all the different players in the ecosystem and this is how you're going to interact with IP we the platform so later this month we'll be launching our new user interface that will help any of the different players in the patent ecosystem come to the platform and get a very specialized view as to how they play in that particular platform and we're gonna announce we're gonna launch this later this month were you'll be able to come if you're a patent owner you'll be able to register your patents you'll be able to create offers and even if you're just curious you can come look site so we'll talk a little bit about the specific benefits to each one of those players yeah so the well there's a larger larger focus today we're primarily focused on the corporate and SME and university market about a thousand companies control 50% of the control 50% of the world's patents so there are accustomed to enterprise use cases like we're building but we also bring together the service providers so these are complex assets we're not trying to put the lawyers out of business we're trying to make them more efficient and perhaps the most important thing we're trying to do is actually bring capital to these so they had they have value but they tend to be like baseball cards they should sit in people's cupboards and not a lot happens with them and we think by bringing finance people in in capital in that we can help change that and we work with 200 government patent offices around the world so IPE wasn't technologically possible until we had advances in AI that when working on for the last 10 years as well as the technology we needed in order to simplify the transactions as a result of the merger those two technologies and bringing them to this asset class we're able to lower costs and enhance returns and have some pretty cool societal benefits as well so I'll walk you through a particular type of transaction for this to see how we lower those costs so right now the cost to transact the first is a large human cost so if you have a large portfolio of patents there's a large human cost that it takes just to identify what assets are valuable in that particular piece after this cost for that then there's an actual cost to transact how do I find buyers for that particular asset and finally there's a contract management piece for that so your net return on that particular transaction is 45% so with the IP we platform and using AI we can automate a lot of what is going on from a human cost and resource amount and bring that down to simply a 10% transaction against that particular asset for a much higher return on that particular event so at the end the reason we've got in such great initial transaction is we fundamentally focus in on two things in the patent space companies tend to focus either in on lowering cost or enhancing the returns and on the with as a result of what we're able to do we can absolutely lower lower lower the costs reduces internal and external resources that Dan was talking about and permit data-driven decisions are probably the top two things that we do there and then on the enhanced return side and again depending on how you measure that how you measure that whether it's cash on cash returns creating jobs whatever it is you want to do we permit you to improve your ROI as well and with that we're back on schedule and we thank you great so thank you so we'll take a few questions from the audience but I'll start out by saying you know as you said the beginning patents are a little boring right lawyers aren't known for being early adopters of new technologies so what has been the response so far when you're talking to people and why do you think this is a good in industry to innovate in and use bacio so Dan and I have a bit of history in the patent space I started out as a trawl and so when we first very successful troll and when we got when we got into the space one of the first phone calls we were got was for some people who knew me from that time and they said well you know you're still a jerk because you're ruining this for all of us and at first I didn't understand what they met but what they what they were afraid of is is that we were doing the Elon Musk thing we were gonna make everybody else irrelevant other than us what I quickly explained to him was that wasn't the objective that what we're trying to do is bring back to your laptop the stuff that nobody wants to pay you to do and that then therefore you can you can add higher value doing the stuff that you actually want to do took them a little of the wild to get that but now I think the markets starting to understand that we're not here to eliminate everybody we're here to make a more productive great question so how would a company let's say like Motorola engage with the platform yep so they'll come to that beautiful new UI that you're gonna see there the first thing that they'll do is they'll register their portfolio with the platform there's a verification process that happens to understand that they actually own those particular patents and once they have their portfolio in the registry they'll have a set of tools that will help them understand the different value of those assets where they can start to do the different transactions that are available on the platform claims are notoriously difficult to value whether it's invalidity scope how does your AI actually put a metric on something like that well there's there's a lot of code that goes in with the actual understanding the claim elements and we've developed a lot of AI that can actually go and find art around different elements but then we use the whole network structure of what exists in the patent sphere to sort of understand where that claim sets fits within the ecosystem and then we can start to look at value around that sort of entire ecosystem so well when you see the platform there's different scores that we have for each patent they're freely available that you can go look at for sort of quality and validity and that sort of helps us drive the overall understanding what the value is that for that asset in what I would say on the validity side as well is that we can give you a raw mathematical score saying you know 80% chance that there might be a problem here and if you want to figure out what that problem is go down three clicks and will actually take you to the segment within whatever document is we think that's creating the problem so you can still still apply your professional judgment and you don't have to rely on us but for most people if they can get to a level of certainty that we deliver with AI that's good enough to get them going and there's you want to go hire a lawyer to dig in further and knock yourself out there's one up here and I just think this is a really good example of how Bachchan is not done in isolation it's usually it pairs very well with things like a eye and time's IOT and this is a great example of how that's done okay alright so we're out of time anyway so thank you Eric and Dan the next company will be Jonathan from creds II hi everyone I'm Jonathan Finkelstein I'm the CEO of cred Lee thank you for coming to our demo day cred Lee is focused on unleashing the power of people and skills in the workforce finding a job is really difficult finding people to fill jobs is really difficult and it's probably a lot harder than it actually needs to be I could say cite countless statistics about all the friction in the talent pipeline and talent acquisition process but I'm sure all of you have experienced it firsthand either as job seekers or people who are looking to do hiring it's it's it's it's tough work and it takes a long time there's a lot of waste in the process and when you think about it the main reason that's the case is that we have a tremendous communications gap in the in the labor market it's a communications gap that's caused by the fact that all three major players in the workforce or focused on talent are using a different language to communicate if you think about it you've got education institutions individuals and employers educational institutions they're using a one-line descriptor on a certificate that's supposed to summarize what you know after perhaps many years of assessments and developing competencies as individuals we self-report what we know on resumes or CVS or professional profiles and employers write these job descriptions often recycles that are meant to approximate what they think it is that they're looking for in a candidate everyone is using a different language there's a lot of wasted time a lot of wasted energy and perhaps most tragically there's a lot of qualified people and populations that are not connecting to opportunities that they actually deserve as a result now at the the you know when you think about all these three groups they're all actually trying to do the same thing they're trying to figure it out you know what it is that somebody knows what have they done what can they do and can I trust it now the the the good news is that this is a marketplace that actually has one of the most important things it needs to actually develop greater efficiency and be better at what it does it has a currency every marketplace actually needs some kind of a currency and the currency of the modern labor market is credentials a verified claim about what it is that someone knows and what they can do now credentials today come in many different forms sometimes they are course proxies like degrees granted by a college or university other times they're very industry specific certifications from associations and credentialing and licensing bodies and increasingly they are verified achievements that employers are issuing to their workforce recognizing on-the-job performance and skills what we lack though is the common infrastructure that lets these kinds of organizations transact with that currency in the same kind of way that you would expect a monetary currency to allow you to go to an ATM or transact at a bank we should be able to do the same thing with credentials but to date we haven't really been able to do that the result is lots of different systems and silos and data that's left behind and locked up and in many different environments and the cost of this is actually not surprising if you just take the slice of the workforce that's focused on talent acquisition we spend 128 billion dollars a year trying to navigate these friction points in in talent acquisition whether you're thinking about recruiting where you cast a very wide net and hope you find some people who have the skills you're looking for the costs of navigating and going through a selection process and interviewing many people even though you may have already summarily left out the people who are most qualified for the job and then once you find somebody then you go back and you do a verification process to make sure give you some sense that maybe the person you hired actually has the skills you would have hoped that they have and then since you don't actually know exactly what someone can do you do kind of a one-size-fits-all onboarding where you take many weeks to get someone up to speed often training or retraining them in skills that they either have or that you thought they had it's expensive but it's avoidable and it's avoidable by thinking about a more networked approach from managing credentials for creating that infrastructure and it's a networked approach that when you think about the the problem we're trying to solve actually can be solved in many ways by the affordances of the best of blockchain based networks you've got a complex system of relationships many different organizations with many different needs and access for that high demand high value data which is the data about human capital you need to keep the Nexus of control for individuals with them let them control how and where their data is being used they should be free agents as they navigate the labor market with access to their data and control over how it's being used we're also talking about objects in this marketplace that need to be immutable credentials need to be trusted and verified and consistently reported and we also need to make sure that we're thinking about identity in a as a first-class citizen in this work now in some ways the need for credentials is a little bit different than some of the other blockchain enabled models that were hearing about today unlike that mango in a food supply chain that's working its way into a compost heap your human capital actually can be spent and used multiple times and so you need a system and a network that recognizes that the the currency even if it's spent can be resent and reused also every individual in the labour market actually takes their own unique path each of you have your own journey that led you to where you are sitting today and a blockchain based network for credentials needs to recognize that there isn't a one-size-fits-all for everybody so this is a problem that we've actually been working on at credit for a number of years we started in 2012 with the notion that the solution to this problem would need to be a collection of organizations that all believe that the that creating a network and operating together is actually going to bring greater efficiency than working alone so I wanted to share with you briefly what we've done to date and where we're headed with partnerships like IBM and building a broader ecosystem that brings us to greater scale so what credibly has has built is a portable verified achievement infrastructure and platform at its heart for managing credentials across the entire talent landscape at its heart is a portable verified profile for every member of the workforce which includes only data that is written by the organizations or groups that have assessed your skills are verified your credentials nothing is self-reported everything is backed by an organization and it's also backed by organizations that are focused on creating currency that are giving you credentials or achievements that actually have labour market value we think of these as resume worthy achievements these are the kinds of treatments that help you get a job keep a job and get a better job and they're also backed by a rich set of data that actually makes the skills and the abilities and the competencies much more transparent makes them machine readable and ultimately makes them discoverable and once you've done that by bringing credentials into their modern digital data rich form you can actually create apps on top of this network that actually provide insights that help people actually transact and do things with these credentials in a more meaningful way or that's a pathway to another job to a promotion or perhaps to ongoing learning opportunities that fill the gap or the Delta between the skills you need and the skills you have and once this infrastructure is deployed within or across an organization like it has been at IBM you actually wind up creating a single source of truth for the data about people's credentials and abilities within the enterprise it gives organizations like IBM a way to see exactly in a very detailed way and a complete way in an accurate picture of their human capital IBM as a key member of this network has already transacted by issuing credentials well over a million times and those transactions have been verified many many millions times more and the results and the impact on the business and the bottom line are surpassing and exceeding expectations we've also been thinking about this network across all different parts of all the different kinds of organizations that are that need to write to your verified portable record from industry associations and credentialing licensing bodies like the project management institute or the AICPA for accountants or CompTIA and basic and advanced computer science skills to training providers and educational institutions like SUNY and CUNY here in New York southern New Hampshire University large publishing companies like Pearson and employers joined joining IBM or groups like Oracle sa P Siemens Cisco and Facebook who are verifying the skills of either their incumbent workforce or people who need to develop skills and their technologies and services in order to find and connect with gigs and jobs and the network is already showing signs of great growth we've got users in 195 plus countries we have transactions that are happening every second of every business day against data in this network either adding credentials or verifying or putting those credentials to use and if you look at high-demand high-skill areas like the IT sector we now already have 92 percent of the most in-demand IT skills and certifications of 2019 already represented by the issuers of those credentials directly on the network so my invitation to all of you today is to think about what role you might play in this network every organization tends to be in a position to validate verify or to issue credentials that recognize skills and certifications so we invite you to join the network as an issuer we're also looking for more anchor tenants to join us and IBM and others as founding members of the blockchain backed network that we've created so these could be large global employers perhaps you're part of a large State University system or an international university system maybe you're involved in talent acquisition job boards or job verification there is roles for each of these kinds of groups to play in the network as we help advance and support the the notions of governance around it and bring it to scale and of course this is a real ecosystem approach we have tremendous strategic partners and investors who are already part of the work we're doing so if you think you bring something of strategic value to this broader ecosystem and the efficiency that comes with having an actual currency of the labor market that we can transact with every day to connect people with opportunities we would welcome you you can visit us at cred ly calm you see things like a case study of IBM's work on our website or you can reach out to me I'm Jonathan at credit calm thank you [Applause] thank you Jonathan was so we're we're just out of time but we'll do maybe one or two quick questions so similar to Harrell at the beginning you barely talk about blockchain and you've got a great existing business with very large enterprise customers do they care that it's blocked generally they just care that you can do extra stuff that's cool use incredibly well you know when you when you start listing off what are the the values of a blockchain based approach you're listening off the values that everyone would expect of an enterprise based system that actually supports scale that supports both privacy and respects ownership of data at the end of the day if you're checking off all that list of benefits and features and the kinds of things that bring people to scale most people are less concerned about what the underlying technology is but I do think that by creating taking a network-based approach with which blockchain based approaches empower you're actually able to make this a story that's larger than a one company and I think that's super important when you're actually trying to create the infrastructure for for something as big as the labor market I shouldn't waiver on that side and then that'll be the last one can you talk more about how you would potentially partner or compete with someone like Microsoft LinkedIn if they can use blockchain as a way to build their network which they already have a tremendous amount of membership how do you how would you work within that ecosystem yeah well Microsoft is already a member of our network and a customer of credit so they issue all of their certifications and credentials on on our network today and ultimately you need to be able to go to any ATM any company and transact with your skills this needs to be infrastructure that both plays nice with existing professional profiles and places where jobs are posted and found but it needs to be agnostic and actually connect with many different kinds of environments so we've got people who are finding jobs for who are in the accounting trade using the job boards that many accountants use to find jobs and we've got LinkedIn as a very favorable and common destination for credentials our platform so it's really about interoperability and about bringing better data more verified data into every environment all right well thank you Jonathan thank you so I want to do a quick note for the folks watching on the livestream we've got about a minute delay on the live stream so if you do want questions we will try to get them in but try to try to ask them early in the presentation and then we'll try to ask before the founders get off the stage if we don't answer your question live we will respond to your question directly after the the demos over all right the next company we've got Maxine from connecting food hi Maxine raper I'm co-founder of connecting food and I've come over from Europe we are a French company based in Paris to be able to talk to you about a network of networks in food so what are we actually looking at at doing the network of networks news case what you're doing is to be able to provide food actors with a solution to be able to guarantee transparency to consumers and also to be able to stop the scandals that are actually care that are actually going on at the moment in the food industry to be able to create value for these food actors for brands for retailers and to be able to save costs in their supply chain having a freakin frictionless traceability all along the supply chain and to have quick product recalls why is this important it's because today retailers and brands are actually they have quite a few numbers of pain points that they have in in their solutions today they've been looking at blockchain as a solution to be able to bring transparency to their supply chain it's not that easy they're faced with quite a few questions such as how can you collect and structure all the information because when you have upstream supply chains it's not easy to do how can you make sure that that data is true and you can really exploit that data and then since food chains are a moving feast they are evolving all the time how can you actually manage your supply chains once they're on the on the blockchain and this is really important because there's a study came out in the u.s. at the end of the year saying that only 33% of consumers actually trust the food they're eating that's down from 47% just a year earlier so it's really dropping and 21% of consumers never buy a product that has been recalled so this is pretty drastic it needs to be addressed so what are we doing at connecting the food we are actually a platform which is operational in Europe and we actually link downstream actors such as retailers or brands to their upstream supply chain which can be very complex we actually already have upstream anchor members on our platform already that are engaged because they're really interested in being able to showcase the good work that they've been doing in their supply chains they want to be able to show to the downstream actors such as retailers or branded manufacturers that they're really working well and obviously for a downstream actor to have all this information that's already prepared and totally exploitable is interesting because they can then prove to their consumers and create values saying look I have audited secure food supply chains in my in my store for example so connecting food is a platform which provides traced audited and secured structured data on food which has been stored on the blockchain that's a huge revolution what have we actually done to be able to create this platform is that we have already mapped and modernized all 25 food industries that go into the food supply chains that all of their master data that we've actually captured and also in our platform we have a certain number of solutions that will actually use the transactional data which flows through the supply chains and we will actually trace that in real time we would also we audit it in real time to make sure that as the food is moving through the supply chain it's totally in line with the consumer promises and its product specifications at all time right to the end of the supply chain then we standardize that data and we put it on the blockchain so it can't be changed that has a huge amount of value for the downstream actors that as I was saying this data we will actually refine it and we restructure it and we will provide it to reach retailers branded manufacturers for their solutions or food service operators and it can even go into b2c food apps so we have all this data that we have structured and audited and proven that it is true using the live audits and the live check solutions are now on our platform and as I was saying so our platform is interoperable with different solutions directly to retailer solutions or branded manufacturer solutions but also in the network of network program that we're actually doing at the moment it is also possible to be interoperable with the IBM IFT solution and work by working together connecting food and IFT we believe that now is the time to be able to do that because if you have the upstream data that is already totally traced and audited and structured and it goes into the IBM food trust platform for example that can then add extra features such as track and trace recalling inventory functions for the downstream actors and that's a really powerful tool to be able to address this problem and stop the other problems that are on food that are going on at the moment so there's something that we're actually looking at with the IFT teams that moment to create value for the two companies connecting food and IBM but also for food retailers and food food service companies in Europe and in the u.s. and the next steps is we're actually looking at creating a collaboration to be able to put this into place because now is the time to be doing it the in Europe the retailers and food service operators are ready for this in the US as well and we believe that all the works been done on connecting food side is now ready to be interacted and interro in in sorry to be put into the IFT system to be able to create a huge value for the food market and she addressed these different problems so that's very quick presentation of connecting food were actually fundraising as well at the moment so if you are an investor and you're interested in investing into this big opportunity in in Europe or in the US come and see us afterwards in the lobby and maxeen ropers also Stefano Volpe from connecting food will be pleased to talk to you Thank You Maxine we've got about three minutes for questions so audience and livestream please send them in so I guess the first question is this network of networks concept is really exciting and something that we've been talking a lot about I have with IBM I think the the you can do some really cool stuff with your product like that are more consumer facing then pure enterprise product so could you talk a little bit about they're like non-gmo and the if you want only organic food that stuff that you can trace and then you have a consumer app that will do that as well exactly because I was saying that there are two benefits is there's cost reducing there's also value creation and that's something we're seeing in in France a lot talking about Carrefour for example but we're also doing applications that can show to the consumer by scanning a QR code that all along the supply chain the product that may have set off right at the beginning of its journey being organic we can actually prove because we audit every level that is organic right at the end of the journey into the consumers shopping cart and they are actually eating an organic product batch by batch lot by Lots and that's really important so we're doing it on different sustainable types of food such as organic GM free all so where does it come from but also how much does the farmer paid to produce it so that there's a lot of things that we can actually be doing direct to the consumer or via the retailer's solutions as well great question from the audience I think I saw you at CES yes what's the b2 if there's a b2c app that wants to work with you what's the onboarding experience like for them for the b2c yeah well basically we were still in Europe and a lot of b2c apps today that where consumers she's scanning food to find out is it really what the brand is saying it is because people were I mean there was two weeks ago that sorry a month ago there was a whole load of Polish beef that came into the European market that was totally rotten basically and it was very dangerous and there's a lot of this kind of thing going on so there's a huge amount of consumers that don't trust what they're eating so they want to scan they want to find out as much they can a bit like we're all doing when you have a politician talking he's giving you facts and everyone's looking it on Google to see if is it true and this is scan food phenomenon in Europe's where consumers are actually scanning to find out is the brand really telling the truth so that's what we're doing we allow brands to prove their promises to their consumers and say look it's audited batch by batch and I can prove to you the figures are telling you that it is true so that's what we're doing did we have another question I'll ask one just a question as to how you know network participants are going to know where the economics of your platform go over time and how they know that the costs that you know are gonna be charged are gonna remain manageable Thanks yeah so if I tell you a bit about our business model and so we have a SAS solution and the downstream brand manufacturers and retailers actually want to be able to prove their upstream supply chains they actually pay a fee to us to have access to all this data a yearly fee on a subscription basis we also there's another little point is that we also have a token where we use part of our income to actually pay the upstream actors to be able to keep on boarding their data because we need to incentivize them which is important as well all right so we're out of time Thank You Maxine okay we are halfway through that was five of our ten companies and we are moving on to Ferrum which is our Canadiens in the house here at Canada okay we got some more Canadians here and they are going to tell you what they do in the leasing space quickly leasing good morning my name is Simon Payne I'm the founder and CEO of Ferrum we're coming in from Toronto today so based on the weather out there I feel very much at home it's nice to have you all with us today so pheromone what are we looking to achieve essentially we're looking to build a commercial leasing platform 2.0 I'm gonna give you a little bit of background on myself I have spent quite a bit of time in the leasing industry in Canada as well as in the US I first got started out actually with my mother who came over from Canada to the UK from UK to Canada and worked with a number of leasing companies that have been quite successful over time we've worked with larger clients we've worked with large banks and we worked with a number of suppliers and you know a very very passionate about the industry and it's a big industry as you can see from you know the slide here you know it's estimated that two trillion dollars of worth of transactions were going to occur in 2019 within the commercial leasing space there was a recent economist article that actually suggests that 30 trillion dollars of multinational dollars worth of assets from multinational companies are ready to be deployed or sold and they're pretty much in a bog at the moment some of the key industries that we service our transportation agriculture energy and construction along with some technology so what are the benefits of leasing why do people lease well its leasing in its most simple form as a great cash flow management tool most of the clients that I deal with have the money to buy the assets that support their business however leasing allows them to take that cash and be able to invest in human capital innovations research and development and potentially acquisitions so it's a great tool for that so what is wrong everything sounds good so far but what's happening well the major issue is that nothing has changed in the leasing industry in 40 years in fact we're using the same documentation and processes we have for 40 years 40 years ago and so there's a lot of dark data and there's a lot of siloed information that is basically keeping the industry in a time warp so what I'm going to do from here is let you hear a little bit more about what what we're building from our CTO Curtis Myles okay thanks Simon okay so now we know that leasing is a big deal and we know that there are some problems in this leasing ecosystem so what are we trying to do about it what we are all about is bringing together all the parties all the participants in this ecosystem into our global leasing platform so that they can transact by reducing the friction which is what drives up all the costs and leasing today and also have the opportunity to enter into new business opportunities so let me take you through who our participants are and if any of you find yourself in one of these buckets we certainly want to talk to you about coming onto the platform it all starts with the client so these are the organizations that want to use leasing as a mechanism for better managing their cash flow and so they come onto the platform with some requirements right they have some equipment that they want to be able to purchase or procure and because they need it for their for their internal operations so they reach out to a lessor right the lessor is the person who actually gives you the lease and lessers have specializations and types of equipment and so you can kind of start to see where some of this this ecosystem starts to gel but lessors are not all created equal some of them will fund these deals with their own capital but oftentimes lessers need to reach out to funding providers right to essentially get like a loan or a line of credit that they then use to purchase the equipment and then collect the monthly payments from the from the client so these funding providers are important part of this ecosystem as are the equipment vendors so everybody is leasing equipment but what's the trusted source of the data about the equipment in terms of its original specifications its maintenance schedules certified maintenance providers right all of this type of information is critical to the trust in this ecosystem in terms of who's working with us with us and every leasing deal has insurance right so there's insurers that are relying on the efficacy and the validity of that data that's transacting between these parties and every time you do one of these transactions money is moving hands so there's lots of payments that go around this ecosystem that today can be costly they could be done with you know people sending checks paper checks back and forth very difficult to to manage and make effective so hopefully you're starting to get a picture of what this Ferrum platform is all about but it's probably still fairly fuzzy for you here if you're anything like the most the people that I talked to you so let me break it down like this we are essentially creating the nexus of four marketplaces the first marketplace is that leased marketplace where those clients with these equipment needs can come to find the lessors that know how to actually create leases for that type of equipment and give them a good rate right based on the trusted information from those equipment vendors so that's our first marketplace but the second one comes in to the fact that those less lessors remember don't necessarily always have their own capital to use so they reach out to these funding providers and we can connect them now based on valuable information that's trusted about the lease opportunities that they're pursuing the type of equipment that they're looking to lease okay that's our second marketplace now the third marketplace comes into play once the lease is up and running and the lessor has used their line of credit probably most of it to be able to purchase this equipment and they're now collecting these monthly payments but they want to do more deals so where do they get the money to now enter into more deals they can't just go out and get endless lines of credit right so what we are creating here is this investment market place where they can bundle together collections of their leases and essentially sell the value of those lease payments that are coming in on a monthly basis to individual investors institutional investors anybody that wants a good rate of return because it unlocks that lessor to now do more deals okay so that's our third market place and lastly we think about the life cycle of this equipment all the information is being collected about it while it's being used the maintenance records that are going on that we're placing into the platform information about all the previous owners of this equipment all of that together makes it possible for that lassie to take that equipment maybe even before their lease is finished and find another buyer that is relying and can benefit from that trusted source of data so these four marketplaces all coming together with payment facilitation making it possible to do real-time payments back and forth inside of this ecosystem okay now who cares right what's the big deal what we have already seen with the transactions running on this platform is the ability to take a lease origination transaction down from four to six weeks to a matter of days so this matters because obviously there's a lot of time there's a lot of money that's spent in these transactions and it makes people get paid faster and we're doing this on blockchain because we've got the ability to leverage the unique source of trusted data about the equipment and all the transactions going on between those participants we're seeing that this is a real opportunity to leverage the identity right so this is a private permission blocked in implementation so we've got identity not anonymity you know exactly who these parties are that you're transacting with and we can do it in a fraction of the cost with real-time payments without using cryptocurrency and we've got a streamlined user interface that based on your role in that network gives you a very fit for purpose way to engage and we're actually finding that we're able to make leasing fun which has never been said before ever okay so where are we at right now with the current business model we came at this from a very client centric approach as I mentioned we collaborated with some of our clients partners and we really want to make this client centric we do not want any of our clients to have to pay to come onto this platform what that's gonna do is drive business demand and the additional parties that are play in the leasing space will now be able to you know work in a much more Trentino streamlined approach but you can see from the business model there in terms of our revenue models we're looking at a multi-channel monetization model which is going to incorporate some of the traditional ways of making money in the equipment leasing industry but it should be important to note that all of the revenue models that were identifying here behind me are actually less than what the typical of what the the current market is paying and it's widely accept okay but by the end of the 2023 we're looking to be able to generate 700 million for the platform which is significant so where we act with the platform so we started off with an MVP with IBM garage Canada as well as the IBM Global Services unit to really take this vision and turn it into something so we've completed that portion of the of the project and we're now into the point where we've all boarded our first Enterprise client a large enterprise client they are now transacting on the platform and they've also brought three global leasing companies on the platform to start bidding on their business ok big huge point I want to make here our first transaction we've been able to monetize it can I get an amen amen there you go so we are excited about the future we're looking to build more transaction volume but in the next you know next six to eight months we're looking on board three to five additional US based enterprise clients to come onto the platform so that we can really customize the experience and make sure that we're able to you know you know be able to drive that transaction volume from when we get production ready by 2020 beyond 2020 we're looking to expand out of North America to build a global scalable solution that we've always set out to do so how can you help what are you looking for potentially to work with us on number one we're looking to raise three million in capital to continue with the development of the platform number two we're looking for anchor members so right now we're in conversation with an equipment lease association which is the biggest in the u.s. they have five hundred and eighty members and those types of anchor members are gonna be able to drive the transaction volume David post keeps talking transaction volume that's what we're talking about okay so if you have something that you might be associated with or they might have an idea for in that area we'd love to talk to you about it and then finally we're looking to bring on strategic partners so IBM as an example amazing to work with over the last 12 18 months we looked at IBM and potentially being able to mobilize their sales force if we aren't able to mobilize that sales force it's going to be good business for both sides and if you have any ideas around that we'd love to talk to you as well so in closing I just want to say thank you for joining us for the presentation my name is Simon Curtis we've got two other members here that are with the team from Canada so we've got our CFO Marilyn Crowley actually my mother is also a partner sitting up here Irene Payne so feel free to reach out to us at any point in time during the day here but if you'd like to get in touch with me directly feel free to bring out your cell phone take a picture of my contact information those are my personal details and I'm available 24/7 okay thank you very much thank you and we're almost out of time if there's one question the audience will take that I've got one on from the livestream thank you for making equipment leasing cool thank you I hope I told you I was gonna try and bring sexy back to leasing so I think you're doing it so we have a question from baby will crypto so you're not using a token or a crypto but is there a potential application in the future that might take advantage of that and speed things up even more yeah so it's a good question initially we set out to really digitize the manual process within the current industry our second phase is really starting to play around with analytics and where I could potentially play a role in being able to start to predict some of the nature within the industry and then but we have looked at tokenization as a third potential phase and that's something that we will be spending a lot more time on over the next 12 months I'd say so good question thank you well all right thank you very much all right our next presenter delay from Metta me do that I think this works better hi everyone I'm Delia tanda I'm co-founder of Metta me so much talk about data these days it being the new oil the new resource data has effectively become money but the problem is that we cannot own and spend data in the way that we do our money and while there are grave concerns on how our data is used and spectacular opportunities on what it can do for us in the future there are some real barriers to data marketplaces and data networks emerging at scale to really bring in the future that we're all seeking and I personally believe the most important barrier here is the absence of a unit of accounts if you look at any marketplaces or networks that scale there's a pretty standard unit of account so petroleum for example we have the barrel with gold we have the ance of gold even with abstract things like insurance we have contracts or premiums which are units of accounts now you cannot have a marketplace the scales without a unit of account so this is a real head win for the data industry second following on from that without a unit of account then there's very difficult to really exercise meaningful granular control or ownership over data assets which results in silo lock-in with people keeping data in their own sort of proprietary places are not sharing it and then the incentives to share tend to be quite binary it's either share everything or nothing and this basically disincentivizes people from sharing which results in huge losses of value what we believe we have a solution to this we call this universal smart data and in summary what it is is a means of container izing data into these information objects that are cryptographic and that can be treated like units like money that are decentralized are he self sovereign and private by design now for us we believe that the internet the next generation of the Internet is fundamentally being underpinned by two critical asset classes programmable money which we're all talking about with crypto currencies and various tokens and programmable data which is our key innovation we're structured really in two frameworks really across networks and marketplaces we believe going to the interoperability of these data assets that we create that we are creating a true network of networks whereby any network there or any part of the internet that effectively runs our protocol becomes compatible with imports so our focus is on three strategic sectors initially mobility media and wellness upon which we are then building a universal smart data marketplace and that's course industry and cross sector so let's look at our specific wellness sector for a bit of a deeper inside so let's look at the numbers so currently on average around the world healthcare costs are rising at 12% per annum GD GDP around the world on the other hand is rising at 3% so there's really a perfect storm brewing between the cost of Health and the rise of productivity in the US seventeen point nine percent of GDP went to healthcare costs which translates to four point seven trillion dollar marketplace so we're talking about a big big market potential here now current pain points for stakeholders in that market places you can basically group stakeholders into payers providers and consumers and typically we've got issues around fragmentation of data centralization from providers there's issues around data quality interoperability access all the things that you would typically expect to hear and with consumers of course possibility the experiences privacy security again not insignificant subjects in this day and age so typically when you go to build a blockchain or wellness Network this is a model that we've learned here which is really helpful organizing identifying who your stakeholders are but there's a problem that comes back to this fundamental issue about data marketplaces because essentially the intention is to get people to contribute data to this network and for that data to be available for the whole network to share but the issue is how do you incentivize people to share data with competitors in an open framework where everybody has access to it so what we end up with is these channels these private channels above the network where we can therefore share sensitive information but then you come back to the question well okay if you've got a private channel for sharing information then what value is the network with the underlying data within it so a meta me we solve this problem by actually putting intelligence and access rights in the information asset itself not in the network so with these data objects you can then assign rules to who can access the data and more importantly the actual data object itself can intelligently decide who it shares data with and who doesn't so what this means is that you can create a network where participants can contribute all of their data into the network but have it still remain confidential and secure which means your network value grows considerably while still retaining confidentiality privacy and all the things that we are sensitive about as individuals and companies so uhm execution-wise our first app is a social login service again a current theme we see in networks generally is how do you recruit people how do you recruit participants meta me particularly we very much focus on the intersection between enterprising consumer so for us onboarding consumers into a network is pretty critical and so our first step is a social login service where we use the convenience of social login combined with the privacy and security of blockchain to give people a truly sell sovereign way to register or get access to services or to networks accordingly and the advantages that this brings true payers is that you get reduced costs of onboarding people much higher quality data for providers you have confidentiality for assets or information within the network as well as interoperability and dynamic access and of course for us as end-users or pursue MERS is easy on boardings better privacy security and all the things that concern us our DAP – framework really goes on then to exploit our marketplace so for us we see a significant amount of commercial upside in the marketplace and whereby we allow these intelligent information objects to be traded in a safe clean and compliant manner so when you look at that if you look at the middle tier here you see the benefits that the marketplace brings to participants around reduced costs richer better experience better services and greater interoperability so let's look at the numbers so in the Wellness Network we are anticipating to grow 90 million users over the next five years generating circa fourteen million in network revenues and about 140 million in marketplace revenues when you extrapolate that out across our other strategic verticals you see 250 million users over five years 40 million in network revenues 360 in marketplace revenues and that's important because when we talk about the Metro Opportunity well what we're really seeking now is anchor partners to join our network our founding members to join the network and that really comes in two guises one is as members of our governance board which we call Metis as in the meta net ethical technology alliance and in context we're looking for a maximum of ten enterprises to join our network as governor's to help shape the governance or network operators who run nodes within the network and have access to all the data that flows through the network in that capacity and what we are offering to founding members is revenue share in our network and marketplace revenues accordingly in terms of the status of the network so our whole protocol is underpinned by something that is called the ethical data standard which we are working with the British Standards Institute to codify into an iso standard that we can use to audit and process and help compliant people are with the data this standard and protocol has recently been endorsed by the UN as one of its use cases in the sustainable use on going digital trade we've also our framework has also been endorsed by Abu Dhabi in their Cabinet Office as part of their blockchain policy current founding members of course are Metta me the Internet Foundation and we're working with IBM to build out the network and framework and we are in terms of particular announcements our DAP one is we are looking at what's likely to be one of the largest healthcare networks integrating it into it as a way to onboarding people and with that and we are launching an HR pilot with IBM internally for adapt to later this year we are also fundraising and we have equity and token based funding opportunities if anyone's interested in that police find me or part of the team afterwards so why join Metta now well most importantly to secure an option on the future by joining the as a founding member there is no obligation to run pilots but you're ready to get at a seat at the table to know what's going on there's a sea change coming in regulation and public sentiment I think you've heard it from many other people today around the sensitivities around data regulation that's coming according to it and of course there's an opportunity to lead your industry in terms of innovation in this space and if all that doesn't matter or doesn't count 40 percent or 40 times 40 X ROI or membership fees and should make it attractive to you so thanks again for your time if you'd like to know anymore please come find me afterwards I think so we're out of time but I'll just ask one question because we've been actively looking for healthcare use cases especially startups in the healthcare space and as a data focus company you could do a lot of different use cases why are you excited about wellness when the people in that network are notoriously bad at working together but why is this an exciting one for you to service I'm two reasons first reason is that the impact that you can actually have so I think that the phenomenal thing is that data can transform wellness I mean you'd look at research and as a general principle the more information you feed research the better the research is so the ability to data update is to make a material impact in our lives is substantial through wellness so that's very appealing from an impact perspective I think also from the notion of people getting to get friendly and familiar with data and data ownership and data sovereignty it's a particularly relevant field as well because quite often if you're talking about advertising or you know a brand experience people don't quite connect with the importance and sensitivity of these issues but with wellness it's a different matter great well thank you so much all right we're gonna hear from Sam Green's everybody great to be here with so many friends our partners in the network and hosts Xander and IBM my name is Sam Goldberg I'm the co-founder and president of acidity and to the millions streaming from home you've probably heard of lucidity before and how we're eliminating waste and fraud in digital advertising but today we're going to go on a short journey together and give you more information about how we're actually solving real world problems so today many of you have heard about blockchain many of you have probably gotten caught up a little bit in the height the hype of crypto the hype of tokens the hype of hey don't worry about actual solutions but look over here doot-doot-doot blockchain we're not doing that we've been busy building technology to solve real world problems with our network and partners and primarily brands that are spending over 300 billion dollars a year globally on digital advertising and our objective is to make sure that advertisers get what they pay for before we can talk about the solution we need to understand what the problem is and the problem is how most ads that end up on your phone on CNN end up on your laptop on websites how they get you it's called programmatic advertising so let's go through this just real quick so the advertiser or their partners at agencies use a bind platform called demand side platform a bind platform to buy ads that's the demand side on the supply side we have publishers that would be websites and apps like CNN ESPN BBC etc and then what's called a supply side provider that aggregates the apps and sites because as things scaled and of course an advertising you want to get in front of eyeballs as a brand you want to present your branding your product and in front of consumers as things scaled in digital advertisers couldn't reach enough of their target audience on any single website even the cnn's of the world and so the supply side providers aggregated a bunch of the sites and apps in fact tens of thousands to be able to reach that scale and in between the demand side and the supply side is a giant stock market like exchange of digital ads that are bought and sold in milliseconds now the problem is that advertisers simply do not know what's happening and they don't know what's happening because it's difficult for them to know who to trust and the reason that is is that the different bind platforms keep their data and it's siloed the supply side planners the same thing everyone's keeping their day silent by the way this is a simplified version of the programmatic digital advertising supply chain so an advertisers bind platform might say we delivered a million ads but the supply side guys might say there were 2 million ads and the advertiser simply don't know who to trust this is a big problem and this is such a big problem that billions of dollars are being wasted I want you guys to imagine imagine 40 billion dollars imagine that's in your bank account that is how much revenue Facebook is going to generate in fact over 40 billion dollars Facebook is going to generate this year over 40 billion dollars now if data discrepancies was a company they'd have more revenues than Facebook this year so that 40 billion dollars is being totally wasted through data discrepancies because of this problem in the digital advertising supply chain and by the way this is a known problem it's been known for years the biggest advertisers in the world have been demanding a solution to this problem the challenge has been it that the solution simply hasn't been there now this is such a big problem in a big part of it because of these discrepancies that opens the door to fraud over fifty million dollars a day is being stolen by fraudsters 50 millions of dollars a day that makes it the greatest enterprise theft in the history of the world there's a lot of money now sure the brands are the ones being robbed but ultimately that gets baked into the price of products that affects you the consumer because that's baked in to what you pay for the products you buy every day so how are we solving this with our network by the way this is a more accurate visual of the programmatic supply chain and the technology partners that an advertiser and their agency the media buyers work with in order to get an ad in front of you on CNN and so our network is solving this problem by building a foundation of authenticated valid data and once you have a foundation of valid data you can start to do some really cool things like automations automations require valid data and this is exciting for the industry it's exciting for an industry where once you finally understand what's happening with your spend where your ads are actually going in the actual ROI that's being generated now you can build models after this and the benefits are profound real time transparent measurement allows you to understand every single ad every single event tied to every ad like a click at conversion etc that's happening let's contrast that with yesterday's world before the network that we're talking about today in yesterday's world the only possible solution was to take little samples of data use algorithms build a probabilistic model we know exactly what this is because for us at lucidity and there's three of us co-founders is our second company together we know exactly what those probabilistic models are because we used to build them at our last company and there's another word for that it's called guessing it is guessing and guessing is just never as good as being certain and when you're tracking every single ad every single event you have the ability to be certain I also think it's important that we ask the question be skeptical of why blockchain it's okay to be skeptical about this the reason we need blockchain to solve this problem is it it allows us to technologically enforce the rules now these rules could be an industry standard or it could simply be the rules that a brand like Toyota wants enforce across the supply chain for their digital advertising media bias we need the technological enforcement of rules that are transparent meaning that if the rules change everyone should know about that in yesterday's world if one of the technologies counting ads were to change the rules no one would know about it unless they told us simply have no idea let's also talk about some real-world examples so our work with some of the biggest brands of the world have been very broadly publicized let's talk about our work with Toyota so this our initial work together we did a scientific test an a/b test where the a was the control using all the tools that Toyota has in their toolbox all the tools that they normally use to buy digital ads pre-bid filter audience segments anti-fraud solution geobella so everything they had that was the control I ran side-by-side with the control the a group at the same time as a true scientific test was the B group the only difference that the B group had and the control was with lucidity now twenty others objected were to drive unique landing site visits a website visit so you click on the ad go to a website and have the consumers stay at least 30 seconds on that website and take actions like build a car as an example on the website and as you can see with lucidity technology we improve their actual business outcome objectives by over 20% this totally blew their mind they had us visit their corporate US headquarters in Dallas and we're very you just say that we have a robust and very friendly relationship with Toyota as well with a bunch of other brands and this is getting a lot of media attention which is great our network has expanded significantly alongside partners like IBM and Zander great partners and one thing I want to mention we are not disrupting the existing user workflow we didn't want anyone to have to change how they currently operate and so in order to get the benefits of the city's technology you don't have to understand anything about blockchain like any good technology you don't have to understand how it works in the background but you do get the benefits and it's important for us to make it very intuitive to use so you have to learn any new tricks to be able to get these benefits and better outcomes and certainty of what's happening with your money as a brand so that's the end of our journey together for today like to invite brands and their media buying agencies to join the network and get the benefits that are available today so thank you very much thank you Sam and if there are questions from the audience we can probably take one but I'll just kick it off with one question which is you guys are further ahead than others in the market on building an actual blockchain product but there's lots of people moving quickly what will this industry look like in two or three years using blockchain so thank you Jules it's a great question so what will the industry look like the industry will look like having the ability to use data for its benefit data is a great word but it doesn't mean a lot if you don't have certainty in it and can build models and applications on top of it so by building the foundation of valid data we allow third parties to build applications specific to their needs and benefits and so a couple years from now what we're going to see our models and applications built to benefit specific types of verticals in advertising specific types of advertising but mostly so brands get what they're paying for all right thank you thank you very much all right next we have Carlos from securitize whoo thank you thanks Jules and thanks everyone for coming good morning they're almost the last presentation so thanks for your patient I hope we can make it an interesting nail so you stay until the end what I want to present here is a project we called shield I'll tell you why means in a second that we've been you know developing the throughout the accelerator we are already an existing company we've been in business since November 2017 we have revenue and a product and we've been basically focusing on digitizing assets on the blockchain that's been the main thing and we're the leading company in this space we already raised you know our CSA money so I'm not asking anyone for money here for fundraising from some of the key companies on the blockchain space like watching Capital ripple Cohen base etc so what I want to talk to you about today is this new project we're launching focusing on a particular asset class which is fixed income markets or debt instruments so far our work has been about digitizing things like equity you know LP interests on funds some real estate projects we've done etc but we think that the debt market is particularly suitable for being digitized on the blockchain for a number of reasons I'll walk you in a second and it's also a huge market you know it's a trillion dollar market as my co-founder Jamie likes to say he's not a tree commerce market it's a for commerce market he even made some 4-koma hats that the unfortunate we didn't bring today and he's been growing you know big time so and why is this interesting well basically first is a complex market day you know when you talk of fixed income or dead there is lots of different instruments there so it's not just one particular thing and all of them have different degrees of complexity depending on the credit quality the amount of liquidity that is available the complexity of the underlying asset etc so these markets are real with inefficiencies you have a list here of things about is basically it's pretty digitized I would say that's the kind of like the the main word and rather than walk you through this this laundry list of things here as you want to show you how I actually work so you can understand how complex this is so this is the how you know today if you're going to issue some debt and you know use a broker-dealer and then find investors that are going to buy your your product basically you have to interact with a bunch of people both internal you know departments within your own company and within the banks and within the investors but as well as you know third-party intermediaries like study ins you know central depositories you know trading etc so this thing that you see here when you actually do a trade of let's say a corporate bond this is how it looks like okay so this is the problem this is there's a lot of people interacting with each other back and forth etc and none of these is actually you know using any any sort of shared data platform that everyone can actually see and validate what is happening and this is why you know blotching is perfect to address these issues because this is kind of like the perfect use case blockchain at the end of the day it's just a place but you can have a record of ownership of something through a cryptographically secure shared ledger so everyone has seen the same data it's cryptographically secure people care a tamper with it and people can update it with the consensus of the network so it's actually the perfect platform for solving this type of multi stakeholder collaboration problems like issuing debt as you saw there you know it also provides a bunch of other you know advantages like obviously this trust list you know you have full transparency or knowledge ability but you can also control how data is being shared which is critical for people like banks or issuers and if you add on top of that the fact that you can do instant settlement so when you actually move you know an asset digitization or blockchain as a token for instance into another you know account then it does instant settlement which in freeze capital because you can move the capital as well using things like a smart contract and stable coins you know it divides the settlement and clearing process which is what most of the risk and money goes into is transactions etc so what we want to do is we go from this situation where you have this mess and go to this one where you actually have a network of nodes different types of nodes with the key actors that participate in this in these projects and say the issuers the broker-dealers you know the investors the trading platform sixth audience et cetera and then as you actually issue something some of the notes you know for instance with the bond issuances start interacting with each other the issuer contacts you know a broker dealer who then goes to the rating agency to understand the quality of the of the issuer which then you know their lawyers get involved preparing documentation in some cases in some cases standardize then you actually do the trade where this is where investors get involved on the trade platforms and then finally you you settle the trade and the post rate operations you register with her Central Depository if needed you know you start reaching out custodians that will you know how the certificates etc so we think that this actually can be done in a much better way in in this network type shape rather than the other with the errors back and forth and this is exactly what we're building we're building a project called shield which is securitized hyper ledger issuance of electronic debt and loans so loans and debt actually and and we think this would be a better marketplace you know facilitated by blotchiness a collaboration platform for all these people to work together so in other words we think that we can add value to different actors in the ecosystem you know regulators issuers investors broker dealers so there will be instant reporting of activity because they everything that happens gets instantly recorded and settle you know there's a single source of information for everyone to see the same thing today we've heard from some issuers Unicode we heard that they are actually using you know Excel spreadsheets to track issuance of you know commercial paper for hundreds of millions of dollars and to understand when you know this coupon reaches maturity and they actually have to pay that so all these things can be actually a curated here automated here and you have for the regulators also more accurate and secure market oversight because they actually know exactly what happens and it's more difficult to commit fraud or or to default on on payments here so that the debt could be a very complex instrument because it's usually like waterfalls depending on the trenches that you buy and things like that and it's always some some slippage when it comes to payments so all these things again can be automated using smart contracts and using stable coins okay the other big thing is compliance banks spent a lot of money trying to figure out how to embark investors doing kyc AML accreditation etc once you have these entities as nodes as part of a blockchain then you can actually you know reduce significantly the cost of compliance and accelerate the cost of trading a little bit topic is intermediaries these markets are because they're very inefficient they're you know real with you know people in between trying to help make fewer things happen and then you know you can actually make these intermediaries work more efficiently or eventually you could think of you know whether you actually need them or not when when the blockchain is a you know it's a record of ownership of all these things happening and these obviously you know leads to to savings which in markets that are you know 50 60 80 trillion dollars a very small amount of efficiency there actually results in a huge amount of savings and then finally you know it actually can improve both liquidity and capital formation so once things are there and they're visible and they're they settle quickly you know you can provide fractional ownership and things like that then this actually improves how investors can participate and then improve stuff these things can be can be traded on the secondary market so with this now I want to finish this with an email account called shill at securitizer IO if your company or your entity you're working with participates in any way in any type of you know debt issuance as an originator or as a buyer of debt or you're a law firm in both their custody service etcetera I would love to talk to you because what we're doing now is we've in the process of recruiting you know that the nodes that are going to form this this network to have enough nodes get the board the first issuer that is going to issue one particular that instrument that we're now focusing on on building and then start trading and start showing the world how this could be a better way of managing financial assets thank you very much about two minutes for questions and I'll just start with you've tokenized a variety of different assets including real estate venture funds etc and to date the large corporations have stayed mostly away from tokens why is debt the use case that they should really be doing tokens first so I think there's two difference one is what we've been doing so far we've been doing allium blockchain which is great for certain things because you have to worry about governance you don't have to worry about cost of using a blog scenery or setting up the notes and things like that but on the other hand for more traditional institutions it kind of scares them off a little bit is it like you know when when public cloud versus private cloud the startup companies don't jump into the public cloud at the beginning and they start with private cloud so what we're doing in this project is we're actually setting up operation based private watching that you know will bring these large institutions the comfort they need that they're gonna start trading there before eventually you know things get more mature on the public locks and things and they move their the agent shield is hyper ledger perfect great questions from the audience you have 40 seconds let's go more which is this is just the start we're starting you're starting with commercial paper which is one piece of your debt market what's the vision for after that yes a commercial paper which is they first use case we're implementing for the ones I don't know what it is it's basically a you know a short-term loan that you know it's a zero coupon so you basically paid out when it comes to maturity doesn't have like second market liquidity it's very simple the instrument it's probably not the place where this is gonna add the most of the value but is the easiest one to start with because you don't need many people involved to make it happen but obviously the main idea is to start going to a lot more complex debt instruments that also have secondary market unitary liquidity like corporate bonds etc which this you know these singles will be much more suitable but will be more complicated to get up and running quickly perfect with that we're at zero seconds and out of time thank you Thank You Carlos and the last presenter in our network accelerator program is tinge ela from Tiger trade hi everyone thanks for sticking with us today how excited are all of you about blockchain whoo now that you've seen how many industries can be transformed well I'm really excited to be here today to talk to you about how blockchain is transforming international trade I'm the scene founder of Tiger trade we are an international trade b2b marketplace for the trade of excess fashion inventory but I'm here to talk to you about our blockchain powered global trade platform trade flow and so when we look at world merchandise exports today it's seventeen point four trillion dollars and you might think wow that is a massive number and it is but when you take a closer look 52 percent of that is done by the top ten traders and what does that mean it means that there's millions of companies around the world that are still unable to engage in the global economy and take advantage of global growth and global trade and why is this it's because international trade is a very complex cumbersome document Laden process it's docume it's a documentary process in order to ensure trust between parties halfway around the world from one another but it's a process that's been in place now for decades and it's remained unchanged and that's why it's ripe for disruption with blockchain and when you look at an average transaction 36 documents 240 copies and 27 entities it shows you every single international trade transaction is a multi-step process with multiple parties involved at every single step creating a mirror documents back and forth as well as assets as well as funds and so when you look at pain points in international trade it's difficult because of the manual processes that are in place time-consuming document and merchandise checks multiple platforms multiple documentation increased the propensity for fraud delayed payments because of all the verification that have to go back and forth and costly reconciliation this then ends up resulting in limited access to capital down the supply chain which is a 1.6 trillion dollar trade financing gap that exists today 56% of SME trade finance proposals are rejected and these firms report that even 25% more trade finance would allow them to hire 20% more people having a significant impact on their companies around the world and particularly in emerging markets and so we come here with trade flow bringing trust efficiency and transparency to global trade utilizing the power of blockchain as if this results in a reduction of time and paperwork per transaction increased access to business opportunity single source of trust as well as resulting in a new asset class for investors excited to invest in the growing markets of in the growing emerging markets but unable to do so at this time so when you look at a global trade network it's quite complicated you have the buyer supplier insurer transporter carriers myriad of parties involved as well as the banks it's complex network and for us a trade flow the initial use cases that we're focusing on are working with the buyer and the seller on vendor and the parties involved in vendor verification we'll look at the buyer in the seller and the inspector inspection companies for merchandise authentication inspection and then bring in the lenders on the trade financing and when we look at the benefits for vendor verification through blockchain it allows these emerging market companies to build a company reputation increases customer trust eliminates redundant onboarding costs and provides industry data validation and we'll take a look at that a little bit further on merchandise inspection and authentication this is a really important issue for quality and quantity confirmation reducing process and paperwork brand poverty and counterfeit risk as well as reducing claims and dispute resolution and so when we actually look at the platform I'm gonna take you guys into it because everyone talks supply chain and blockchain but not a lot of people are in supply chain and on really understand the challenges that emerging market companies are facing on a daily basis winning aging and growing their international trade business so when the company is an emerging market and I'm gonna just let this play so you guys can take a look in a country like let's say Kenya or in Ethiopia there's not a credit risk profile that just exists for these companies so if I'm a big brand or retailer looking to take advantage of the ago act and find a partner in one of these markets it's a huge labor-intensive time-consuming process I have to figure out who these companies are where they located someone gives me a contact I still have to figure out you know are they certified where they registered how long have they been in business do they have capacity and here you can see this vendor global apparels in Kenya has been validated and verified their company registration by the Kenya revenue tax Authority their company validation their industry validation by the appropriate certification bodies and we have external validators that can then go in and see what is what is the process what is the status of this company and actually validate that certification data that that company is is putting in there and then we see here when you look at the inspection process buyers and sellers inspection companies are all working together on our platform to share data in real time and all of that data is time-stamped and housed on the blockchain so every company is signing off on and saying yes I have requested this inspection this is the information that I need to know and their seller receives that the inspection company receives that that is then housed here and then can be shared by everyone this is not a centralized trade flow database this is a database on a private permission blockchain built on a hyper ledger fabric where all of our companies all of our network members can choose who their shady sharing their data with when how and why and as a result they can eliminate these manual processes of sending this documents Quest's merchandise checks back and forth to different parties different employees forgetting who has checked what when having to recheck and recertify information and then post shipment if there's any damages or issues occurring having meant to enter into disputes for claims and settlements all of a sudden we now have the opportunity to be able to access all of this information at any given moment and everything is time-stamped validated by by the parties that are involved ensuring trust confirmation and validity of all the documentation that's taking that's needed for these processes to take place and so when you take a look here you can see we have the companies logging in to the dashboard they're able to validate the pre-shipment inspection form sign off on all the data that's there the data can be housed in a myriad of ways here we're housing a digitized document that's been signed off on we can also store the individual data themselves we're also working on a proprietary technology to integrate into the inspection merchandise authentication that will allow us to house data at the wavelength and microscopic level for authentication purposes as well so as you can see it's quite impactful what our buyers sellers inspection companies and other partners can see in this type of process and we are bringing blockchain out it's not completely under the hood because we want our participants to be able to see the value and so when you see here we're basically able to bring all of these components together in terms of the international trade process which helps us to unlock the trade finance problem and we're able to now fractionalize trade finance with the flow token with visibility of deal participants in a mutable record of transactions real-time approval of terms and reduced processing times potential lenders can have full view of an emerging markets finance deal and actually are able to hold the title as collateral through the blockchain we're not doing a demo of the trade finance platform today but if you're interested we can definitely show it to you at another time and so our initial target market is fashion because that's what we are experts in and working with custom around the world and bringing them onto our blockchain platform and in terms of our network like I mentioned suppliers manufacturers and wholesalers buyers retailers and brands inspection companies and alternative lenders and so we're currently looking for anchor network members that would like to join us on this journey including buyers international brands inspection companies manufacturers strategic investors as well as global partners that are engaged in the global trade industry and process you know we're looking at global trade we are unlocking global trade and catalyzing inclusive global growth this for me is a personal journey and it's a personal story I've been working in this industry for the past 20 years I started with working with manufacturers across Afghanistan and Indonesia and Vietnam and that's still my passion today and I'm so excited because we finally have the technology to unlock inclusive global growth with blockchain and I really invite all of you guys even if you're just interested in learning more to come and join us on this journey thank you so much and also if you have any questions please contact me and my head of business development Bob now she's here today as well we're happy to chat with you further thank you [Applause] Thank You tangela and I just want to start with a question about you are a blockchain for good company there is a social impact here a lot of people think that means there's a trade-off in financial returns but how do you feel about that no definitely not I don't think there the trade-off in financial returns our business model actually is you know we do monetize we have a SAS model where we do charge suppliers in the network as well as buyers for certain specific services as well as there's other monetization opportunities for a company throughout the ecosystem I think it's important for people to understand that you can be doing good you can't but you don't have to be a non-profit company and blockchain really helps us to do that and we're actually able to democratize this even further utilizing the power of this technology great other questions from the audience I'll ask one more which is you mentioned that you're starting in retail because the parent company Tiger trade is was a specialist in that space when you mentioned it's bigger than that can you talk a little bit more about how much bigger and why you're excited about this watching company is something that goes beyond retail sure so the platform itself that we've built is actually industry in category agnostic so the technology that we're using it's not specific specifically built just for the fashion industry we're starting with the fashion industry because that's what we know best and it is a massive industry where they're doing a huge amount of sourcing from manufacturers in emerging markets and it's a real value to them to have their manufacturers around the world be utilizing this type of platform but at the same time there's plenty of adjacent industries and home furnishings agriculture electronics where companies are sourcing from emerging market companies around the world manufacturers around the world that don't have a credit profile that are now really still managing their business and documentation by email and by Excel and all of a sudden we are providing this permission blockchain solution that allows companies to house and this data and then share it in real time with partners and that's what we actually make the blockchain more evident for companies that choose to want to be able to understand what is the power of blockchain and how is it really servicing this platform that they're utilizing right well thank you very much we get a run over yes Angela and actually all ten of our blockchain accelerator Network participants so we feel that they are the first wave of real enterprise ready blockchain applications that we'll be scaling over the next few years and what we're excited to end the program on if in the next 20 or 30 minutes is the second wave that we believe is coming immediately after that so we've got our foundry come on up lemmya folks and edge do one come up start making your way this way so we're gonna hear a little bit more about the program our earlier stage program that is starting next week and you'll hear they haven't gone through the program yet so but you'll hear the the use cases and a little bit about the reason that they're there building what they're building so keep an eye out for these companies in the future hi welcome thank you for joining us in this joyous occasion last couple of months have been an amazing journey and a true partnership between IBM and Columbia University it took shape on a very tight timeline and yet it made the most of the strengths of each of the partner from my BMS deep technical expertise and leadership in blockchain to Columbia's best-in-class faculty research and students it really took this distributed village to raise this child of an accelerator and the results speak for themselves we see the amazing progress that teams have made since January in addition to working on blockchain and data transparency with IBM the lab to market team that Jack and I represented Columbia tech ventures also works with six additional accelerators we have three in life sciences one in clean energy another one in cyber yet another one in media AR and VR and we work across multiple universities and with various corporate and public stakeholders and it's amazing to see how this community in New York City expands and strengthens with each of these programs getting off the ground I'd like to thank friends at IBM David Jules Meredith Adam it's been a great pleasure working with you and we look forward to building on this success before we wrap up the network program we'd like to give you a quick preview of our diamonds in the rough that we have in the cohort of the launch module of this program which focuses on early-stage university-affiliated teams we're very excited about kicking it off officially in next week and we hope that many of you will get involved as mentors or advisors if you'd like to become one please talk to Jack or to me or to one of the teams and we look forward to continuing this amazing journey Jack take it away great thank you so much it is my distinct pleasure to introduce the launch cohort so first up we have team bid rights thank you so much my name is Charlie Hanna I'm a second year student at Columbia Business School and I'm the co-founder of big rights we've built a block train enabled SAS platform that helps creative enterprises more efficiently license and monetize their creative assets well we're looking for our strategic partners in the media industries who have a large libraries of content and are looking for a better way to license that content we're also looking for technical leads with experience in machine learning as well as full stack development talent who can help us as we continue to develop our product so please come find me after this thank you so much thank you Charlie up next we have CDP with friends hello everybody my name is Zack Seligman Karin and I'm here with CDP with friends which is a next generation platform that allows greater access and liquidity to the future of financial instruments we are initially building on the maker data system and we are looking for business development and strategic help thank you very much make SEC already up next we have chain intelligence thank you hi guys I'm Shrieker we are intelligence and we are building analytics for blockchains currently we're focusing on the EOS blockchain and moving to other block chains from there thank you already up next we have diaper hi everyone my name is Danny and I'm one of the cofounders of a type and I come from the Grove School of Engineering at the City College of New York and we might see me in my team believe that we can create the most efficient and trustworthy reselling platform within the fashion industry I'm starting with sri where within this industry there are high rates of counterfeit products due to brand exclusivity and you a type we will be able to create a purely peer-to-peer system connecting both buyers and sellers all while doing this we eliminate the eliminate the risk of counterfeits and also high risk lower lower transaction fees also lowering shipping times and what we need we are seeking for is number one we need a technical mentor to help us finalize our solution solución and number two we wanna we hope to gain exposure from this thank you thank you already up next we have forum hi we are forum my name is Kevin Hahn I'm here with my co-founder Adam Morgan and we are affiliated with the school of general studies at Columbia University so forum is building a decentralized global community to share and monetize specific domain knowledge and experiences we're starting first in the healthcare market where we have both both professional and personal expertise but also see it as one of the biggest unmet needs that would drastically improve people's lives our vision is for patients to have access to easier cheaper and multiple second opinions we want to empower patients and disrupt the status quo at the moment we need the most help with full stack development and fundraising thank you thank you Kevin all righty up next we have team honest farmers hi I'm we're honest farmers we're I'm here with pet our co-founder we are a strategic design school student from Parsons schools of design we're bringing a new role of designers to bringing the gap to um using the challenge of business like finding a way to help the business challenge our projects as honest farmer we're seeing organic as a heart to retrieve the certification for farmers therefore we are utilizing block chains as to help farmers connecting consumer and improving the transparency toward food permanence without the complexity of bureaucracy processes thank you thank you so much okay so this team is team Carvin unfortunately they cannot be here today they all are in a midterm right now so wish them the best of luck but they I'll try my best obviously they are building a blockchain platform to serve the needs of the world's most vulnerable people one of the co-founders worked in a refugee resettlement site in Greece and they're working to create solutions for tokenization in certain communities of high need around the world and they're all affiliated with some affiliated with the Columbia School of general studies in some with Columbia engineering department as well so up next we have team produce picks hi my name is Shannon Iyer I'm one of the cofounders of produce picks and I'm affiliate with the Columbia School of Engineering so basically what produce picks does is our goal is to help make the process of food distribution more efficient right now it is governed there's something called paka which governs basically states that when a farmer ships produce to a salud distributor if the farmer says the produce of a certain quality and as a food distributor when they receive the produce says it's not of the specified quality USDA comes in does an inspection and whatever it says both sides agreed that USDA has the final say but this process is very cost is not very cost effective and it's very time-consuming so our goal is to kind of use blockchain and computer vision AI to help assess food produce and kind of make these contrary a potentially smart contracts between like a farmer and the distributor and what we're looking for right now is just strategic partners and potentially people that could help us a little bit with more blockchain expertise and kind of guide us into implementing this thank you up next we have project cappuccino hi guys I'm cushaw Gregor wall from Columbia School of Engineering I'm here with my co-founders Sumeet Kataria from school of engineering – we are working on tokenizing real estate developments this is focused on new developments and we want to be the bridge to enable small retail investors to invest in real estate developments and gain benefits from the capital gains as of now we are looking help with technical expertise on blockchain and some business expertise on real estate thank you thank you so much and up next we have Eugene in 2008 a boy with seizures get tested for a genetic mutation the lab gets it wrong and the boy continues to receive incorrect medication and he dies now this was completely preventable because information is out there it's just fragmented and scattered without consensus our goal is to build a first dictionary of genetic information on the blockchain hi my name is Roger and Han I'm the CEO of Eugene and were affiliated with Columbia Business School and Columbia engineering our goal is to tech tokenize DNA data and incentivize contributions on our ledger think of us as the plumbing of precision medicine this is 30 billion dollar market and we believe this is a perfect use case for a private permission leisure like hyper ledger credentialed by IBM we're looking for help in building out our business networks which include laboratories insurance companies hospitals and pharmacies belong to any of those companies please and come back and talk to us thank you very much thanks so much Roger I'd like to invite everybody up great so just one last round of applause for this wonderful coat they're just starting off this is actually technically week zero so next week is is week one and I have kind of two specific asks for all of you in the audience the first is don't be shy if you loved any of these ideas you want to ask more questions you kind of want to interact with the teams please feel free during a lunch networking portion and then secondly if any of you are interested in mentorship opportunities for this next stage of the program please please come find Demetriou or I or somebody that can connect you to both of us we'd be more than happy to talk stay tuned thank you all right so with that one more round of applause for everyone today that presented excited to see all of this I do a final reminder for the folks in the room to please download Brella and use it to match meetings we're gonna break now for lunch and schmoozing thank you to our livestream attendees and we'll follow up with the questions that we didn't answer live with you directly and David won't say something David thank you very much thank you two up Nexus or Zander for hosting us and please keep being excited about blockchain because we sure are

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