 Hey, good afternoon, good to be here and it is a lovely to see the fantastic interesting people in the Hyperledger Global Forum and today I'm taking this opportunity to talk about few use cases and applications that Krupsi has developed for some of our clients globally and also how our blockchain as a service is covering these use cases both at the time of deployment to managing the scaling. So I have few use cases and also I'm going to talk about our Krupsi blockchain as a service platform and probably around it may take about 20 to 20 minutes and towards the end if there are any questions I would like to take it up as well and feel free to just put your questions in the chat box it'll help me to understand what kind of clarifications are needed. So as you know blockchain has been evolving quite some time right from 2015 and enterprise great blockchains are you know becoming more mainstream nowadays. Our experience when we started in 2015 blockchain was a pretty much an unknown subject in the technology world when we were talking to enterprises but in 2016-2017 we did some very interesting projects so this one what we are talking about here is a liquid asset trading between banks it's a marketplace providing a lot of trust and also certain you know ability to make the assets available for all the participants to see and then buy and sell. So just to any use case unless it is backed by a significant business case it's going to be you know a dead use case all of us we have seen there are many POCs that did not take off because of the underlying business case was not strong enough in this case it's about 3.1 trillion market size so if you see here there are four major participant groups there are banks who are selling assets there are banks who are buying the assets there are importers and exporters who are you know handling the underlying business transaction so these business transactions are you know spins off an asset an instrument that originating bank they are holding it is called a liquid asset because the life of the asset is you know probably around 30 to 120 days it's not long term but within the time the bank who you know bought you know originated asset for liquidity purpose they may have to sell this to another bank who is looking for such assets with high liquidity so now across the globe if you are talking about 3.1 trillion there are millions of transactions happening so it's tough for any banks to understand where these assets are without a proper platform and it is probably higher too it was dominated by a lot of intermediaries so that's where this trade asset is the company's name on the right hand side top you will see this is Dubai based bankers they wanted to put up this platform in 2017 we started right now there are about 60 plus banks are onboarded and there are transactions happening across and all the banks are comfortable in seeing the benefit accruing to them and at a peak we had about 15 nodes deployed across the globe and now the number of nodes are less a trade asset side but there are nodes like selling banks and buying banks they can always opt for a node and connect to the system so this is one now use case that we did in 2017 and then right after that in 2019 2018 we did the finance against remittance platform this is again with a very strong business case supporting because if you see typically there are migrant labourers from different locations their corridors and they work in a normal scenario if you are working in our own country probably we have a choice to go to the bank of formal lending institution to get loan for various things at home it could be improvement at home or buying assets education multiple things but in this scenario the migrant labourer he's working in different country so the banks in his native country it's very difficult for them to understand what is the his income capability and what is the his affordability and all those stuff and at the same time the local regulation prohibit the banking regulation prohibits to give money without all these information so it is supported by united nations or there is a startup in in India and Dubai they wanted to set up this platform facilitating the migrant labourers coming through the forex agencies through whom they are remitting money back to their native country and the lenders in native country connecting them and putting a network so that the there is a visibility to the migrant labourers ability to pay and also the lenders can extend load to the beneficiaries that is migrant labourer's relatives so this one was done in a corridor between Nepal and Dubai and again this is one of the united nation SDG program about the financial inclusion for the certain people of certain levels of economic levels so this is one project that is you know we are we are planning to expand this the client is planning to expand this to multiple corridors just before pandemic this went live and post pandemic they are going to take it to multiple regions like Africa and other parts of UAE and Middle East connecting to Philippines, India and other countries as well so this is really solving certain critical problems and we hope to see this network expanding to multiple X levels in the next couple of years time and then again another project this we did in 2017 as well this is a micro lending project micro lending typically you know it's not a big size a set because average ticket size could be maybe thousand dollars or 1200 dollars here you know there are multiple participants and the time sensitive you know because if you see typical micro lending it takes about two to three weeks but after sitting it up or this platform in high quality fabric now it is taking maybe couple of days or less than that that means the borrowers when they need the money they were able to get the money and because there is no they are going through the formal lending or a formal lending institution process the cost of interest or a cost of finance is extremely low again when you talk about the micro lending this is for the people that are economic level where their affordability is very very less so that interest component and the time time component is very very important and also now there are multiple participants in the system because this being a micro lending at a rural level there are agents who interact with these borrowers and once they interact they connect to the system they feed in the information and we use external APIs for getting the credit score and background check everything now the information is available in the system for lenders to decide what how much and you know what interest rate that they have to provide for this loan and then the borrowers can access the loan immediately and on top of that insurance companies comes in and they also make sure that the borrowers are certain in a rural areas they are enjoying the insurance benefit as well so this is another use case we did in again 2017 and this one was in 2020 a use case where there is a supply chain platform for mining industry it is set up by a company called Mine Hub and the mining industry is a very very unique because it is in bulk and it takes a lot of time and the quality of the output is also a very important factor and that are certain ethical side of mining has to be maintained and all these things should be visible to the participant whether it is a bank or an insurance or a buyer or a logistics company everybody should know about all these aspects and the supply chain in terms of finance in terms of compliance in terms of the operational side all these three layers very very very critical and hitherto they were managing this in a very simple standalone system but there are a lot of delays and disputes and reconcilations and other challenges so this we this went into production in November and a lot of large-scale mining companies have already come on board and we are seeing this ecosystem also growing rapidly right after this lockdown is released we are already seeing a lot of traction to this mine hub ecosystem so next one is a very recent one it's in POC state pilot state again the business case is very attractive because if you see the education or student loan that's somewhere you know it requires a lot of liquidity because it's just within the hands of few players who are continuously lending to students through universities and the size of the education loan is kind of a snowballing because it's a average time it takes for a percent to complete his education so throughout the next you know for example five or six years the loan has to be continuously given to him so it's snowballing right so because of that the liquidity becomes a big challenge because if there is one institution lender if he's giving loan taking this to the secondary market whose of bigger than the lender or the equal size it's always tough because they have to you know deal with the wholesale the size of the loan but what the client who's you know a CFO of a university in the US they wanted to put this because they understood the liquidity and also the risk related disability challenges in the student loan portfolio and then for them just we have deployed a pilot now they're running the pilot where that thousands of loans are being put into the system it creates a lot of liquidity for example a high net worth individual with certain you know SCC criteria they can come and then participate now the the originator need not sell this loan to one single party they can sell this to probably 30 40 50 people who are interested to you know come and participate in this system now they can for example if a if a lender if I'm holding a hundred million dollar worth of portfolio no probably I can sell it to 70 people with you know average maybe 150,000 dollars you know or 1.5 million whatever it comes to so this way the the liquidity becomes of you know much more than the the current scenario and also the information relating to the student and their education and their status is also continuously available in the system so when these things are available now probably the risk visibility is very high because it's not like I'm giving the loan I don't know about the student now all these things are made available in the in the HLF ecosystem at the same time the no compromise relating to this the data and the confidentiality are also you know extremely critical though the we designed the system in such a way that without compromising the security without compromising the confidentiality and the data privacy the lenders and investors they are able to transact the loans and they can also see the risk coercion of the particular asset so that's what this education load project is about then comes up you know all these projects if you see you know it took average about three to maximum four months for us to put a production you know a production grade system in you know fully deployed on in any cloud you know it's clouded domestic blockchain as a service platform we have and it's also domain agnostic now you have seen supply chain and a banking and a microlending and we have done you know a retail application we have done multiple applications across multiple domains so blockchain's service platform was a backbone and that drives all these programs so why do we need a blockchain as a service platform in the first place if you see the blockchain adoption in the initial stages we are going through a lot of challenges you know starting from availability of talent pool because a person who's coming in and then trying to build a system for a for an enterprise he should know about cryptography he should know about blockchain how it is working he should know the full stack development capabilities and he should know the you know sudden you know legal aspects of it there are multiple challenges so it's not easy to get at that you know set of talent with all these experiences and capability and then continues evolving because if you see hyper ledger started from dot six we're buying two dot x now so it's it's kind of you know to that to that extent it's dynamic you know we are seeing a lot of improvements a lot of upgrades happening so that is also certain you know the technology challenge because if you are in one dot four if you have to move to two dot two you need to understand that the dynamics of the the protocol upgrades and advancement and then again the any you know most of the projects that we have done it's all connecting to certain put another technology as well it could be iot it could be ai it could be ml so if there are ancillary technologies maybe it is development related or it is also giving some value added services for the use case so those things are also very very critical and important and the conceptual understanding of blockchain by itself is a big challenge because you know there were situations where blockchain technology was put as a force fit for a use case you know maybe that's not a the best case because you know ultimately the ROI will go for a task and the enterprises will will look at like okay why am I running this program and the partners are not coming on board so there are other challenges always and the business value has to be clearly identified only then conceptually you know the blockchain will make sense for the use case so that's also another challenge challenge that enterprises are going through and then blockchain is not an IT topic for an enterprise it's a service design for example if you're talking about a trades and track program or if you're talking with a sustainability program so you have to you have to talk about the ecosystem and there are certain compliances that you may have to think about there are certain partner onboarding processes you may have to think about i think it's not just an IT topic and taking all these challenges into consideration we build this blockchain as a service platform which is almost like you know you take each other you you decide that this is a use case you don't have to do anything else the corporate blockchain as a service platform helps right from deploy development deployment management and scale all through it is a UI UI driven uh it's a GUI driven so you don't have to worry about going to the console and then uh patching in code and understanding goulang understanding uh hyperliterals smart contract how it is working how the crypto side of the identity working probably all those things are not acquired so we have done 50 plus POS is so far in this platform 10 plus of them are in production rate already so when you when you see the stack you know it is you know we have created multiple layers starting from bottom if you see it's a you know the smart contract layer where anything relating to the data i think we are managing in that uh that layer which is a blockchain node and peer layer and then comes your middle back a lot of communication related boxes you are seeing all these things are included in your blockchain as a service platform and we also have a conceptual data lake because we make sure that the reporting and query is happening directly from the data lake we meaningfully take the information from the block into the data lake so that the the business uh information that anybody wants to get from the blockchain network it is easy for them to get from the data lake rather than understanding or coming into the block and trying to take the data and you know trying to understand the logic behind the data that's what the data lake does and then we have got the deployment side you know anything relating to any cloud irrespective of the cloud we have got all the services that is available including the health check and network management and your cloud resource management all the artifacts whatever is required connecting to the cloud infrastructure is done in our deployment tool in fact we have also deployed an on template for hlf 2.2 in azure now it's free of cost any enterprise wants to deploy they can use that on template and then you boom you have the 2.2 within about you know a few clicks so that's what we have done and on top is an excellent part you know a feature called process modeling so if you know a full sheet of what exactly you are use case who the participants are what the data set is what the business rule probably you can come and just map what you want then your application is ready with certain ui it's not a you know all that uh exciting ui but the very basic ui for you to test the application and then move it iteratively iteratively to the production grid now it generates api it generates ui it generates chain code and also it generates a data lake now all these things generated then you can have a look at your application and then improvise it as you want to move towards production more partners coming in they may have their own requirements you can modify it it's not a because it's just a you know you may have to change the data structure and you may have to change it and rules whatever you want to change you don't have to get into deeper coding it's a low code environment probably about 95 percent you don't have to code still you may have to code about four to five percent it's just a scripting if the business rule is going to be so complicated we have seen in any use case the business rule complication is by default so that's why we are saying about four to five percent of coding is essential so with that process modeling it is easy for you to you know number one deploy and then do your process modeling your application is ready now your middleware and other blockchain uh pure management systems what you are saying on the bottom two layers with that you'll be able to manage and then scale your application and you want to scale your application more members coming in more organization coming in new channels you want to set up more peers you want to set up all those things you can do just through a GUI driven uh you know screens and we also provide managed services even enterprise ones just to take care of the entire services we will take that responsibility with our own eyeball monitoring your nodes and uh whenever whatever services are required on the reactive mode we will do those things as well so end to end any life cycle of a hyper ledger program Crip core bus it does without much need for manual and time consuming effort and it is since it is time-tested it's uh you know probably uh the close to zero uh error I would say so that this is about the course stack when we put that into a customer application the architecture works on the left hand side is our uh Crip core and always there is a question about who wants IP how it was and all those stuff we have given a very clear uh demarcation of what to code on the right hand side what the box you are talking about is a client application tomorrow if they don't want to code they want to run their own services they can take this uh their their sort of you know the application and they can take it put it on any bars or any services that they may develop on that this is a kind of a flexible you know approach that we have given I think with that all these 50 plus projects in uh you know some of them are in production like 10 plus are in production and we are also seeing a lot of demand um after uh certain products in the market were taken out and after certain services were taken out I think there are a lot of demand for uh the boss services that Cripsy is providing so that's all I have today this is uh you know about Cripsy we are serial entrepreneurs we come from a very strong uh uh cryptography background and this is uh all of us are working to that from you know from 2006 and from 2006 Cripsy is in existence prior to that we are working in our other startup in our you know winters and we are present across the globe our corporate old who is in the US we have an operating entity in Seattle and in Netherlands the Hague and in Bangalore we have a strong team of research and developers sitting in Bangalore that's our background I'm is I'm Ravi Chaganathan and you know I have about 30 plus years of business experience globally I was in our corporate world and I started my first venture in 2008 that is relating to the trust authority system in India called E-Mudra then I set up a tax filing portal the first tax filing authority here in India and then we started blockchain in 2016 so feel free if you have any questions I'm happy to take the questions yeah there is a question from Karthik is asking this demand for HLF or for any other protocol we the blockchain as a service layer what we have it works only for it's it works only for HLF we don't support any other protocols but we work in Hedera protocol as well that is more to do with the public if you have any close-loop enterprise system driving use case in hyper ledger and if that is a need for it's you know extending this information to a public network then we have what a type to Hedera and Hedera being cost effective and also times in effective and green efficient we use the Hedera and that information are available through the consensus service of Hedera that's available in a public mode. Hi Ravi there's also a question from Yaku a little bit more about life financial services applications not the POC just things that are actually live and happening which which application sorry live financial services live financial services yeah I think the the the one I was talking about the bank marketplace where illiquid assets are being traded it's live it's a production there are 60 plus banks have onboarded what they do is there there are illiquid assets for example if I'm talking about I have lend for my client it could be a trade finance asset and this asset I'm holding and if I want to sell to another bank now it's very difficult for me to understand which bank is interested and because it's across the globe I may be sitting in Bangladesh Dhaka and there may be a buying bank sitting in London if they want to buy they don't know me I don't know them so this is a very typical problem and also even if they know they may not be able to put some trust on me and my asset so what we have is we have this platform setup this platform is a completely smart contract driven and also it is a you know it gives a lot of visibility to the asset and now the bank in London they know that there is an asset available and also they know the complete trace and track of the asset because that's how it is captured now they can bid for the asset and then they can buy and everybody knows this asset moves to move to another bank and that bank when they want to sell to another bank for example now the trace and track of the asset is available until the bank who's holding that asset so that is how that was architected so that's one live use case it's in production that's great thank you we still have two minutes so I would go through the follow-up questions from Katharik which is what about application upgrades say Hyperledger Fabric moves from 2.x to 3 or be seamless or will the application sitting on top be impacted yeah being a member of Hyperledger Fabric and contributors of Hyperledger Fabric we closely work with Hyperledger and community we understand the future versions and what functions the future which you know versions are bringing in for example 2.2 when it came alongside within a week from 2.2 announcement our trip core was ready for 2.2 because we closely worked with the Hyperledger community to understand the future versions and we upgrade our Hyperledger our trip core was to make sure that the upgraded versions are available as quick as possible so we support we started supporting dot 6 and we have matured up to 2.x now so we are already I think 2.3 dot something I think that's a version which we are currently supporting last one last question from Yakubis what is the pricing model for Cryptsy yeah we have a couple of there are three layers number one if you want application development consulting services that comes in the completely consulting services mode we have a red card and ours is a time and cost sensitive time and effort sensitive so at a very least possible time we will be able to give you an application the second one is you have a team of Hyperledger or a blockchain specialist or a technical specialist you can take our boss on a licensed basis it's a we charge either per transaction or a periodical you know annual license you can take that and then you can run your managed services or if you want us to do the managed services we do end to end that is that goes by per node per hour basis and also we have a charges at our subscription they may have to pay for using our blockchain as a service layer this on top of that we add the underlying infrastructure cost directly whatever cloud you want to have it's back to back we'll take that cost and any eyeball is required if you want some support from our our technical team that is also will be charged on top of that on an hourly basis or a daily basis wonderful thank you well I guess Jakob you will have to follow up with Ravi separately because we ran out of time we're actually one minute over so thank you everyone for participating go ahead and catch the last session of this blog and then I'll see you in afternoon thank you Jakob I we support Hedera blockchain that I have already told please let us get back connect back and then see how we can work together thank you appreciate it bye bye