 Hey, folks, Darryl O'Donnell here from Continuum Loop. This is a second video. First video will be linked down below. It is related to what is a minimum viable ecosystem and why do you want to drive one? Why do you want to create one to get things rolling? This one here is about how do you use an ecosystem governance framework to drive the activities of an ecosystem, particularly that MVE, the minimum viable ecosystem. So what's the problem we're trying to solve here? When you're building an ecosystem, you know what your big picture is. You're building an ecosystem to solve problems. But by definition of solving, creating an ecosystem, you can't do it alone. But you're having trouble figuring out how do you bring in and attract partners to help you build. You may contact people, they come and take a look at you, they're not sure, or they may even find you when you're not aware that they found you, but they didn't understand what you are and you're realizing some of the partners, they just can't figure out what you are or how they would fit into, how they would join that ecosystem and build it with you. So one of the key things we're looking at here, this is really what you call a cold start problem. You need someone, they really think they need you, but you haven't quite met, so you haven't got the whole thing rolling yet. This is where you really need to jumpstart things and this is where an ecosystem governance framework can really, really help. So we take a look at the starting with the minimum viable ecosystem. That's the prior video. We'll review a little bit of that here, an MVE, which is really about creating a compelling value proposition. It's not about an MVP, which is a really rough, terrible idea, you know, with a nugget of awesome, no, it's something that's actually really valuable out of the gate, and you start by creating this ecosystem governance framework that is aligned to just the MVE, because it's gonna help attract and align those partners you need. It helps you understand as well, where you don't have a partner, what are you gonna need to build or control, and you may need to build and control things in the beginning that you do not want to, but are necessary to make that whole value proposition, that whole ecosystem work. Likely over time, you can find or create partners to fill those places that you don't wanna be, because you wanna focus on what you're really, really core, what you're really amazing at. So what is an ecosystem? Gonna revisit this. They're not platforms. And big difference between platforms and ecosystems is we do not have the control in an ecosystem that we think we do. Control is extremely limited. It's a terrible currency to spend in an ecosystem model. They're really about roles, the people, organizations, and code that does things, the activities. It's really what's about is managing those two things, making sure people understand, you know, what's encouraged, what's allowed, slight difference between those two, what's forbidden. What are those roles and how do we interact as individual parties as we're fulfilling roles and doing activities in an ecosystem? Because those partners want to understand how do they as a player fulfill that role and participate in the activity. If you're doing apps and you have a platform, they're required. Definitely apps are required in the ecosystem. Otherwise you're not, especially decentralized ecosystem. There's nothing to do if you haven't done that. There may be a requirement for a platform, at least you may start out with a platform that kind of dissolves over time, but they're not sufficient. Because apps and platforms really handle that technical integration, the interactions and the movement of data. What they don't do is they miss the points of the liability and identity that are inevitable, as well as some other governance issues that are inevitable in anywhere you're driving real value creation. Value creation is you're taking something, adding, creating value from it. It doesn't exist before that. You need to understand what really that governance is behind it, because that's one of the key drivers of that business. So an ecosystem governance framework, it helps the players in the ecosystem answer the following question, because they really want to know where they fit, how they can add and extract value. Value occurs to the ecosystem as well, but they have a right to extract some of the value they created. What happens if and when errors are made, and where are there other opportunities to add value? Where there are places that someone is not doing a sufficient job or we're doing a poor job, an expensive way of doing things, they may look and say, I can do that cheaper, better, faster. I can actually dive in there and create more business from my own company, my organization, my code base, if I'm completely decentralized application adapt. It's kind of like a rule book for the game. You need to understand the rules if you're going to play the game. So EGF, ecosystem governance framework for MVE, minimal Bible ecosystem is really what we're talking about here. Now, why do we need it? Again, a minimal Bible ecosystem is there to deliver value prop, but really key, especially in the beginning stage as we get these things jump started, is attracting and aligning the partners that come in, because they're going to help us build the value architecture. We're also going to know better where we need to build, where we want to build and where we need to build, as I mentioned, and also where we're relying on those partners to do the work in the overall value architecture. They're hard, ecosystems are by definition hard to do, but helping these things, as I mentioned, it lets them know where they fit, where they add value, where they do not fit. They don't want to be a square pegs trying to jam themselves into a round hole. And again, where those opportunities are. Ecosystem governance frameworks can be enormous, apparently my head in the video is enormous too. I'm going to move that for a moment while I do this quick discussion. This is a diagram of a relatively simple governance framework. Lots of moving parts, lots of pieces. It's a lot to maintain, but it's not overwhelming. If you look at though, at some of the most valuable companies, if you take payment networks, for example, Visa, AmEx, MasterCard, at the root of all their sort of IP hierarchy what's the most important thing? Meaning if you take it away, does the company fail? The top one is their governance framework. Yes, they do tens of thousands of transactions a second and that's really cool. They have some amazing tech. They got logos. They have a recognizable brand around the planet. I know when I go into a store what it means. Underpinning it all is the governance framework. And if you were to print the governance frameworks, there are many off from one of the major credit card networks, I am sure you would fill a large number of large rooms with paper. They're that big, they're that important. We wanna make sure we don't get into this trap of dear Lord, what have we created so that the governance framework takes over everything. We don't want that. We want the minimum Bible ecosystem and an ecosystem governance framework that dovetails nicely with that. Wanted to back up, there's a general premise we operate on a continuum loop is that there are no surviving complex ecosystems that were designed as complex ecosystems. If you know of one, please let me know, but I've not found any, especially when they're operating as designed. They typically come from and they evolve from simple systems that work together that create the complexity. They do not come pre-designed as complex. It just never works that way. So again, they're complex, well, they start out simple. We've got a framework. We're open sourcing the tools. We're doing a webinar. If it's within a week of this video or after a week of this video, it'll be in the show notes about getting access to both the video as well as the actual materials themselves. It will help you create a simple governance framework which is focused on a few things. One is the key components that need governance. Lots of components in an ecosystem don't need governance. They kind of just float around like storage. I need storage. Right, I don't need to govern that. I just need to use it. What are the governed roles and processes? We want to try and minimize those because the more interactions you have, the more roles you have, and the more processes they're doing, the harder things get and the more complex it gets. So we want to try to minimize and do the bare minimum. That's why it's called the minimum viable ecosystem. And then there's a few governed artifacts. Things like glossary to make sure we have the correct terms. We're specialized in places that use trusted data, sometimes called digital identity. Really depends if it's really to do a person or just data flows. You can think of things like a taliprism, hyperledger Aries, we're in that space. What credentials are one of the key data formats. As well as another piece that's critical and really hard to, it's easy to overlook. It's subtle in the importance of it. That's the assurance levels. You generally as the rule of thumb know that if you have assurance levels that are in use, that are really in use, you've got an ecosystem that is creating value and there will be a lot of value to share around. It's a subtle concept. You'll get the tooling, you'll see how we build out some of those tools on what are the key levels of assurance? What's the minimums that you don't want to use? What's the maximum that you just add too much burden and no one's going to do it? And where's that kind of happy goldilocks in between? That's about it for now for how governance frameworks can help drive an ecosystem. Again, I'm Daryl O'Donnell, founder of Continuum Loop. If you have any questions, please don't hesitate to reach out. You'll see my Twitter as well as Christine and others on our team down below. Thank you very much.