 Hello everyone. My name is Vivek Srivastava. I work digital asset as technical sales director in London office and Prior to digital asset my background is mostly in financial Industry I worked in Citigroup for a long period of time and mostly in capital markets technology and In between I also work with City Venture on our DTNX program Along with my own startup for a year in between and before joining DA At DA, I would say the primary role is to be the trusted advisor to the customers so that we can understand What are the kind of positive business outcomes they want to achieve and what are the required capabilities and need And whether you know where our technology works or meets those requirements or not So in that is in that capacity we work with various customers in Mostly in the MIA region Hi, good afternoon everyone. So in the gate. I'm a technical sales engineer at Digital assets similar to Vivek of long history in IT and professional services I'll surround my own startup for a number of years and I'll be delivering the demo for today Great. So as digital asset we are a software company that works with financial industry It's going to price clients mostly Infinance industry as well as in other industries primarily to build multi-party applications and networks where and drive Economic value to them at the heart of I would say in terms of the the company We are in six countries. We grew around 75% in last two years a lot of our Focus and our experience comes from financial financial industry as well as Co-technical technical folks that we have in the company We are we very much focus on diversity and we are hiring so you can go to the career page and Look for the roles that we have I mean, these are some of our clients many of them are in production Or some of them are in getting to production Most of the clients I would say they are we have they are in enterprise space Financial institutions like like exchanges banks But also we work with insurance companies as well as in health care and many of our customers Focus on the ESG goals as well. So it's a it's a variety of customers we work with In terms of to make, you know that they our customers Reach their goal, you know, what you know what business Outcomes they want to achieve at the core of our technology We have two primary innovations I would say damel language and canton ledger So damel is a smart open source smart contract language Which is primarily our customers used to define the schema the semantics and the execution of the transactions It's a purpose-built Languages build on the building blocks of rights and obligations. So privacy comes first You do not as a developer You do not need to do anything outside the box to make sure that the privacy is Ensured and it gets enforced in a distributed manner as well. So In terms of the other innovation which is canton ledger So that's again is the privacy enabled distributed ledger, which works with Complementary blockchains like fabric haphazard fabric and haphazard Basu But also you it depends on our customers needs if you know if their trust assumption is centralized trust Where you still have a distributed applications, but all the entities they can't trust one single entity You can have basically your distributed ledger running with with one essentially That domain operator which could be running on database. So that way what you can actually do is you can create networks where you can Fulfill the requirements where you have whether the centralized trust requirements or a decentralized trust and our vision is To create this global economic network of these kind of network So that where you can easily connect to any of these networks and start doing business You know with other participants and the same way like internet works today So for example to connect to the internet and do business on internet You need really two main things one is your browser, right? and then your ISP and that way you can then either launch new businesses or Interact with other businesses and that's our vision that as far as you have a demo node which like works like the internet browser so to say in the demo network and You can basically connect to any of the domains which are provided by you know various our customers And then you can do transactions with you know various other entities on this global economic network So in today's demo what we're gonna focus on is around asset tokenization and when we work with our customers I would say a lot of our customers had similar Building blocks that they need to do they needed to do to basically whether that's issuance of the tokenize a issuance of the asset Life-cycling of the asset Distribution and so on and so forth so another innovation what we've done is where we Build this demo finance library, which is open source But that essentially I would say if you look at the stack here, you know at So at the very bottom you have the infrastructure which is like the whichever the underlying blockchain You want to use but then in terms of once you have your when you're building your application The demo finance library provides you those building blocks so that all of our clients do not need to rebuild them Right, so like the asset definition the accounts transfers TVP and so on so forth and then we work with Customers which is again. There are certain reusable components here as well like when it comes to asset issuance distribution And so on so forth. So the intent is that 80% of the work, which is I would say Standard or can be reusable So that essentially we work with our customers and that's open source of a customer then can customize that to add that 20% Which is their IP essentially right and they can build these complex Financial applications which are multi-party are very quickly very easily. So that helps our customers go from basically Whenever they want to start to live very very quickly So at DA we focus a lot more on productivity and time to market And if you look at damel is a language our SDK the toolkit and all the toolings that comes around with where our tech stack is Mostly focus on you want to build a secure private Network where you can have these multi-party distributed application that you can build But you don't need to put too many resources or you don't need to wait for a year to build these and go live Right, you can actually we have our customers who can who have done that actually that they started with a very simple Use case in three months time they put the pilot in production and then from their onwards It's an incremental growth So they start to build incrementally on top of that because when you build using damel tech stack Your your applications are composable and your network is composable as well So on that note, I'll finish talking and we will not bore you with the slides anymore I'll hand it over to you and to actually do the live demo just a bit of a context in the demo The it is running on on his machine using damel canton On the hyperlegia fabric so everything you'll see the code you'll see the The demo as well as some of the things under the hood like the blocks Being created and so on so forth Thanks very much Vivek and just before we get started just interested to see a quick show of hands Who here's heard of digital asset before you came today? Okay, and also so we pitch it right who here would say they are technical as opposed to business Okay, so we've got a fairly even split between taking business So we'll try to keep everyone happy then so as Vivek says we're going to show Some example of this demo solution that we've built today to show tokenization and in particular There's there's a lot to it. So I'm just going to show a subset. We're going to show how we actually create a structure for Financial assets and how that how we can build them dynamically and use them Then we're going to go through a process of actually issuing them In a kind of Dutch auction, so I want to start off with by just showing you how how we how we structure assets So I click into here. You can see I'm logged in as a fictitious issuer up here I've got some pre pre-created assets here and just to give you an understanding of how this works in our model If we go and look at one, so I'm going to go and look at a forward, okay, so this one here Big one this one here So this is a kind of asset which is an agreement basically to purchase a particular stock at a particular date in the future And the way we represent this is with this kind of tree structure It's what we call a tree of claims which says on a particular date two things are going to happen I'm going to give in this case 20 Tesla stock and I'm going to receive $10,000, okay, so It turns out this is a very good tree structure for modeling any kind of asset So that the beauty of this approach is is we can we can model all of our assets using this this kind of approach and then All that all the steps that we want to take them through so from issuance to distribution to Life-cycling and trading we can write write all of that code once and use it regardless of the kind of instrument that we're working with whether it's a Stock or a derivative or a future or or a bond or anything. We just have to write that that code once, okay In the bottom here, I've got the Hyperledger Explorer and we can just see as we progress You'll see as we go through the demo the block count going up That's really just to show you that it really is running on Hyperledger fabric, okay, and it's not smoking mirrors So what we're going to do for the next part of the demo is we're going to create a new a new kind of asset We're going to create a new bond, okay, and I'm going to create a floating rate bond So we give up on the name Filling up the fields for bond creation The key thing is that when you're when the bond is created you'll see that we'll use the same tree structure so from and Essentially behind the GUI actually the assets in smart contracts are represented in that tree structure as well So the the UI just a representation on the representation here But the key thing is that once you define so you can think of basically when you have to define a different asset It's just a different shape of the tree, right? So you can actually define a new shape of the trees or a new asset On the fly which is very powerful because today if we if a bank has strengths Implement a new asset class. It's a new release. It takes a couple of months here. You can actually do it fairly quickly Now the other thing is that once you define the tree structure You can define some of those common functions that can be applied on this tree structure. So like life-cycling and Corporate actions and so on and so forth and that's where you will start to see the value because for different asset classes You don't have to redefine everything and different assets You don't have to define redefine those and those Common functions and you need to you start to reuse a lot of them And that's where the productivity comes that you can actually, you know, create a new asset and launch it very very quickly Thanks, Vivek and this looks more complex, but really it's not it's just a Repetition of the branches in the tree and if you zoom into each branch It's basically the coupon payments that you get on a bond So you can see at a particular date I'm going to look up the rate of the USD live a six month rate and and pay out that amount Right until my last payment, which is my final Redemption date when the bond expires and I pay back the original dollar that the bond cost Okay, so different different kind of instrument But but using the same principle to structure it as Vivek says so now that we've got that what we can do next is We can go ahead and actually issue that so I can go into this issuance page here We're going to do a new issuance I could issue that asset that we've just created and That's I'm going to issue a million of them And we're not showing all the detailed workflow processes that you might have here around this might go to registry or compliance or whatever We're just showing the the boundary of that and that's created that bond So if I go ahead now and look at what I'm holding You can see here that I've got a thousand a million of these Let's go ahead now and create a Dutch auction for them So we can go into here and go to distribution I'll create a new distribution and your auction so while Ian is doing that again when I mentioned that privacy is built in What you'll see if you know once you look at the code is that as the Dutch auction or the asset ownership or how the bits are Basically the mechanism to place a bit is coded in the smart contract After once those business rules are written as that you don't need to do anything Additional to make sure that the privacy is actually Enforced throughout the tech stack in all the way to when when you receive on your node the data And no one else should be other than the stakeholders There's no one else should be able to get the data and see the data, right? And that's essentially I was one of the unique thing about Damolin canton is that It's about privacy and data minimization. So in other Platform you have to write a lot more code to achieve that was as it because dammel the way it is built it Happens for free for you. Essentially. You don't need to worry about it Okay, so I've now switched screens and I'm logged in as an investor called Alice She's going to bid for eight hundred thousand of our bonds at a price of zero point nine eight dollars Okay, and similarly at the bottom here I'm going to place a bid as Bob another investor And let's say he goes and bids for four hundred thousand At a price of zero point nine seven five Okay And now we're going to see a different view because what I'm going to do at the top is log in as the An agent so the person who's running the run the auction They can go into the the auction here and they stay there able with their permissions And they're able to see all the bids that have been made you can see we're slightly over subscribed here at 120% because we've been at 800 and 400,000 of each what I will do of bottom is I'm going to just show you Bob's holdings what he's Current custody you can see he's just got US dollars in his account at the moment Now when we close this auction as the agent what we should see is it will fill these orders according to our Dutch auction rules And this is happening completely Atomically so everything's trading and settling at once in one atomic transaction and you can see now that Bob has got his He's had the partially filled order because he was he got 200,000 and Alice in fact got the her for late hundred thousand And that that has those trades completed Automically so the last bit to add here what you know saying about atomic transaction So in this transaction when you close the auction You think what happened was that there were two DVP's essentially right because there were two allocations upon and all that happened in as atomic transaction and with the privacy and not just like Privacy but sub transaction privacy, which is quite unique to damel where even if you have multiple sub transaction and say Transaction one is only meant to basically between two different stakeholders was a strong sub transaction to is between some other Stakeholders you can actually enforce the sub transaction level privacy using damel You and again you don't need to do anything out of the box as far as your business rules are written that way You know it comes out of the box. So that's quite unique So now the smart so what we have done is the smart contract for bond or for DVP, right? they have been created in that financial like using that financial library, right and This was just basically using that to create but if you do want to create a new instrument You can actually we do have an interface where you just have to create a new tree structure, right? So and that you can do it on the fly as well. Yeah, so you can actually create new Instruments on the fly to if you want to yeah, I won't go through it all now But you have the option to go in here and do custom instrument and you can actually then dynamically start building out your Building out a tree like this if you want to Right Very good question sir Alice might not have access to fabric ledger so it depends on the so let's say let's say she has it What it's all all the business data is encrypted. So no one Not even the operator. So anyone who has the nerd they they will they will they can access the underlying data So only the part spent node where the parties are hosted They are the only one who can decrypt the data and then make it available to the party. They are hosting So double okay very good question. So in terms of the the double spend is Stopped at the demo level itself so that when you when you receive basically the transactions that are they are double Committed so essentially between Alice and Bob They both have to pre-verify that this is the this is the transaction These are the state and when they both very fat then only the transaction is successful The fab at the fabric level what gets stored is basically the ordering of the transaction and then the payload But the payload is encrypted Again no the part spent notes so again the nodes so depends if Alice has the note then yes, of course But it depends on the use cases because not every time you will have all the parties having the fabric node Very good question, so we are talking about the cross domain transactions, right? So the way so far there's a there's a Precondition essentially that if you want to do across domain transactions, then you the entities basically need the Part spent nodes need to have one common connection to one common domain essentially because you need that let's see when the ordering of the transactions so That's the only Requirement as far as you have one common domain. You can actually do across domain atomic transaction Then you'd need some kind of interruption. It doesn't matter that we are so sorry then you'd need some kind of interop solution Let's finish your question first Right so at that point if that's the case then you will need some kind of an asset bridge Where you if you if you're not using damel net was damel and canter network And you're interacting with outside that network to a public network or any other network with a native asset then you will need an asset bridge and you have you can use the the hash lock time Kind of technologies So again a lot of it depends on the use case and how things are deployed we have customers who are Basically using it for life betting So I mean you can I mean all of our tech stack can be horizontally scaled So you can receive the throughput. Yes, there will be certain latency because it cannot there's no in technology There's no free lunch. So if you want to receive the guarantee that you that you want There will be certain latency, but again It it doesn't once you are happy with that latency in your critical path Then you can use sharding or other kind of mechanism to do horizontal scaling to achieve your throughput requirements If there's any more questions, perhaps we take them offline. Yeah Thank you