 I'm Sophia Lopez from Kaleido and I'm here with Sterling Ingui from Fidelity. So I'll have some slides to kick things off on the topic of moving from Web 2.0 to Web 3 and Sterling's going to share some of her observations and insights working with Web 3 open source code bases and communities and how to bring that in-house in the context of real projects and what does that mean for enterprise grade, production, very highly regulated industries and use cases. So I'll start with some slides and she's going to present more as a discussion. So a little bit about me, I guess. I forgot the slide was in there. So I actually started on the IBM side in 2015 and I have a colleague here who also, I don't know where he went, where Nick is, but there are a couple of us who were started in 2015, really saw the potential of blockchain and actually worked together between the enterprise systems team and the cloud team joint venture to launch the world's first blockchain managed service. So running a node is a service. We did that for about two years and we really felt clients needed a lot more than just a node. They needed a full stack of technologies. So we left to start Kaleido almost six years ago and it's been a really rewarding journey. One thing that's really important to us is as enterprises are moving into Web 3, how can you make these technologies radically simple to adopt? Really putting a big easy button on top of adopting the tech. But obviously enterprise grade, thinking about things like compliance and ISO and SOC. We were just SOC too, we were just talking about. Because those can introduce a lot of friction to get the benefits of the technologies if you get caught at these plumbing and infrastructure layers and it could take many years for third-party risk management or onboarding then you lose the interest of the business or the stakeholders for these projects. So a little bit about Kaleido's timeline. We actually were very involved with Hyperledger since we're at the Hyperledger booth. I'll spend a minute on that from the early days. So there's Nick because also was on our team and we had an open blockchain code base. We wanted to do everything to open so we actually went to the Linux foundation, our team and donated that code, became the kernel of what's Hyperledger fabric. Nick wrote a lot of the initial documentation on fabric, which was funny. Years later, I guess six, seven years later, taking the certification test and reading his own docs to prepare for that. Anyway, fabric has a lot of options. So we came for a circle as Kaleido back to the Hyperledger community because we're really passionate about providing best-of-breed open source for enterprises. The communities are moving rapidly so we're always announcing new partnerships like last year we onboarded Polygon. We're going to have a very exciting announcement next week as well. But there was a community that was missing. This was that layer of decentralized middleware where a lot of the enterprise heavy lifting happens and projects were rebuilding this over and over again the tune of $20 to $50 million per project. So we actually open sourced some of our proprietary IP and that became the basis of the Firefly community which now is two and a half years in and companies like Swift, leading central banks of the world, global transaction banks, insurance companies, healthcare companies and a lot of others are leveraging that. So we started as a blockchain as a service infrastructure as a service company and run globally with leading Web 3 tech but really taking a plug-and-play approach to it. So 40 plug-and-play services, 500 APIs. So you think of what AWS does for cloud and developers, Kaleidos providing technical architects, developers, access to all the Web 3 tech you'd want in that sort of catalog approach. And what we do as a company, we run just starting with the blockchain what you traditionally would think of as chains, when you think of a blockchain project, we started in private consortia, multi-party projects and then in the early days there was almost a religious debate between private and public, permission-permission-less but now we've really seen those two spaces come together. So on the public side, you see gaming companies, if they have millions of in-game assets daily in their games, they need a gas-free chain but then they need to inter-operate with low gas or regular public chains. So there's a hybrid approach where things like app chains have evolved and polygon supernets and subnets and other options in the market as well. So they've moved to a higher scalability performance towards more of an app chain for enterprise or certain types of deployments like the gaming example. And then in the private and enterprise space, they have really looked at, let's say they have an internal program around micro-credentialing or employee loyalty or safety certifications. Employees can get the enterprise NFTs minted internally but they might want to use those credentials externally and take them with them. So now you have internal on an app chain or a side chain and then they're moving some of those standard types of credentialing to the public world. So the middleware layer I referred to, I mentioned Firefly, so it's a Web3 gateway, provides a supernode of runtimes and connectors that sit on top of whatever blockchain protocol you're using. And the third layer on top is really more of dedicated digital assets, institutional grade, tokenization, asset tokenization, then Consumer Web3, which could be mass scale type applications like the gaming one I mentioned. And then multi-party consortium, where really the only ones in the industry who provide that governance and tooling for companies to come together. And like an example right here in Texas is Blockchain for Energy. So Chevron, Exxon, Repsol, international companies like Repsol's in Spain and many others who they have standardized on a platform using this tech, and then they can just roll out, they have over, I think, dozen, two dozen use cases and working groups tackling very energy, oil and gas specific pain points they've had for years, but now there's a technology to help address that. And then we're really seeing, you know, you can have the individual use cases within your company, you can work together as an ecosystem for some of these. On the ecosystem approach, I was actually in Chicago last week with Synaptic Health Alliance, and they've been live for a number of years now. You know, one of the payers said they've had a 500% ROI on this initiative due to the blockchain, they actually have what's basically an enterprise stable coin that Alliance Incentives provides monetization for their data. And, you know, another new joiner from Texas, Texas Health Resources healthcare system, they said they've had, already saved over $100,000 by using this solution, and they just joined in October-November timeframe. So, but these are global networks around the world. You know, Covantus has 70% of the world's grain supply chain. They've been in production for a number of years and have over 200 companies participating. So, I guess moving from Web 2 to Web 3, it's real, people are getting the benefits. A lot of times, the enterprise projects maybe aren't as exciting as, you know, some of the, like, crypto and what's happening in the public space so they don't get talked about as much. But you can get, you know, better, faster, cheaper type outcomes evolving current business processes and then whole new lines of business, products and services that you can provide. So, if you... Clido actually has a free starter tier. At the page you go just public access product and then we have dedicated solutions. This is a snapshot of our free tier. We've actually start-ups have raised millions of dollars just with demos or POCs on our free tier. So, if any of you have a cool idea, I'd encourage you to go in and build out on there. And then you could just move up to a developer tier and business tier with a credit card. Developers, as they're moving to build these Web 3 solutions, some of them, you know, have Web 2 skills. So, all of these are RESTful APIs. They know how to build apps on top of that. And as a result of this really great experience for developers, we've been consistently rated number one over the last four or five years for some of this tool set. So, I think the only one inside is you don't... And I'm starting to talk more about this. You don't need to build everything. You know, engineers, technologists, they like to build. And, you know, now, eight years into Enterprise Blockchain, you know, when I hear a client and they're saying, we want to build our own Layer 1 protocol or we want to grab, you know, the open source and try to run nodes ourselves. It's just not where the business value is. Some of these, you know, the plumbing and infrastructure layers are well-solved problems. And when you're looking at cross-cloud, cross-geography, you know, all the connectivity, all the integration it's just not the best place to apply very valuable resources. Really, the business application, your differentiation, you know, your business relationships you're going to bring into the solution. And the ROI is something that's really smart to focus on. I was talking yesterday about CBDCs and I was giving an example on financial services. There was a Gen 1 approach to building where people built everything from just running the nodes all the way up. And some of these projects, I mean, one of them, the Australian Stock Exchange announced a couple months ago after about seven years of building, one use case, they had to take a $250 million right off and just shutter the project. So, and there were a number of other Gen 1 projects that just dragged on for years, hundreds of thousand lines of code, tens of millions of dollars. Like, the Gen 2 approach is where we see a lot of successful outcomes and I gave a counterpoint in Australia, there's a CBDC ecosystem that was able to get, you know, spun up in a matter of weeks. They have 15 different use cases with some of the biggest financial services companies in the world being able to participate. And I talked about SWIFT who has 18 central banks and global transaction banks working together on, you know, they had over almost 5,000 transactions and really were able to explore wholesale and retail CBDC projects, but being able to in a matter of weeks stand up a fully regulated sandbox to do that work globally. So, it's a very different approach to building the Gen 2 where you can get to production faster, get to results faster at lower costs. So, a couple of quick themes I was going to comment on to reinforce this and then pass over to Sterling. You know, one is that COVID really accelerated digital transformation roadmaps by decade. People realize overnight you're an insurance company, you can't have brokers sitting in offices, you know, like pushing paper. So, you know, people are digitally transforming, moving to the cloud, and that means there's decade-old systems that are going to be re-platformed. So, it's a once in a generation shift. There's a lot of issues that, you know, are being solved with these decentralized technologies around with the transparency and trust. And, you know, during COVID, look, we didn't know where the toilet paper was, we didn't know if the masks were genuine, we didn't know if, like, any of these testing kits actually worked. So, you could see all the pain points that Blockchain solves and they can work across B2B as well as B2C. You know, certainly there's a lot of talk on the show floor about crypto and DeFi. What we're really built is the broader Web 3 where, you know, experiences can really have thousands of use cases, and there's a lot of tech that you need to be successful there working together as an ecosystem approach for some of these problems. So, as I mentioned, you know, Blockchain's the beating heart of these solutions, but you really need a lot of other integrated technologies. Most companies, and you could talk a little bit more about Fidelity, you know, they're really approaching Web 3, like, really dozens of ways you can, you know, enrich or enhance your services to your end users, maybe new products and services, and then B2B back office or working with other partners in the industry just really evolve your business processes. So, people are looking at new consumer engagement models like Metaverse and NFTs as well. So, an enterprise might need to manage dozens of projects and manage state across that. So, it's really a whole new tech stack. You know, Web 3 Gateway and then really new Web 3 system of record. So, you can end up, and we've heard this, for example, with gaming companies, that they're talking to 17 companies that each one has a tiny slice of what they need, and that means 17 NDAs and 17 contracts, which, you know, it's difficult. So, you really need that full stack approach, which is what helps accelerate getting to time to value, and that's been our approach to provide that full stack on the system of record as well as on the infrastructure side. So, there's layers across the application, middleware transaction and data layers to get to that full solution. I think the third point is that, you know, there's always going to be POCs, but we, you know, we've really seen the industry move to where people say, you know, we need to get to production, this is real, and we talked about some of those real projects that people are doing. And I think if you're familiar with Jeffrey Moore and Crossing the Chasm, there's, you know, the early majority coming online, so we could be on a call and people are saying, help explain to me how Web 3 works, and the next call, it's someone who's already done six different deployments, and then they're scaling to do even more. So, it can be pretty varied on how people are approaching the space. So, I talked a little bit about the Gen 1 and Gen 2, but even in the Gen 2 world, you know, you can start at different places like build your POC or pilot on the same infrastructure you can scale, or some people go, you know, right into production with their MVP and then have a phased approach. So, definitely a need for enterprise-grade deployments as well and the easy button. And lots of real benefits on both business outcomes as well as efficiencies. So, I think I might pause after this, but it certainly can be a journey as you're learning along the way, and then internal teams and tech teams come up to speed as well, and I think Sterling could speak more to that. When there are multi-party use cases, the governance can be challenging. So, just keep in mind, you know, the technology is solved, but human beings and how people interact, it comes down to people, and then, you know, the companies and your counterparties. And then remembering that, you know, integration versus of data. We actually provide a lot of tooling with that with Firefly, but that's something you need to budget for and allow for and work with internal IT teams. And then, of course, you know, tokens and digital assets we really feel are important to pay attention to. There's a lot of enterprise applications of NFTs, enterprise applications of digital assets that can be really relevant to consider as well. So, I think with that, I'm going to pass it over to Sterling and try to get out of the slide share here, but... Thanks, Sophia. So, I'm Sterling Ingui with Fidelity Investments. I am a product area leader in our workplace business, focusing on next-gen retirement. So, that includes how we are looking at Bitcoin and our 401k plans and how it brought that forward, but also the blockchain and our enterprise work is really an incredible area that I've been learning so much with Kaleida's help and leveraging Hyperledger with our teams, and I think that has really been able to open our eyes into what is possible. Fidelity has a history of innovation and that history of innovation has helped us through market volatility, it's helped us through industry and regulatory changes or shifting consumer preferences and demands, and we continue to really embrace research and development across our different business units, and so when we look at it from a workplace opportunity, we want to kind of bring forward what does emerging technology mean for us, how do we get into Web 3 and how do we enable our legacy infrastructure to be able to bring forward and leverage the value of something like blockchain to get into Web 3 to meet our customers and our client demand. So, in 2014, Fidelity actually started this journey as an enterprise looking at what does it mean to get into the digital assets, the blockchain ecosystem. I was fortunate to be working in our labs group at that time and started looking at how do we bring forward Bitcoin contributions for donor advice funds, which we launched in 2015. My colleagues started working on what does it mean to have a wallet, and that turned into institutional custody with Fidelity digital assets, and we continue to kind of research and learn, but we do need tools and we do need resources as we get more and more into this Web 3 space. There are things that we can build ourselves and there are things that we can learn from and bring forward some opportunity and some value and begin showing what it means to get into Web 3 when we have that interoperability. But I'll say for an enterprise it takes a lot of things. We have to have that security. We have to have that privacy. We have to have the scalability. Other companies we take it very seriously to say, do they have a SOC? Are they compliant with the ISO 27000 search? Things that Kaleida was just speaking about that they have enable us to say we can do this and upheld our standards of cyber security and I have a passion for that area given my background also includes being an information security officer in cyber security for our digital asset business and then workplace and healthcare. We take that very seriously and we also want to do things that meet our clients and our customers' demand. So when we look at what are we going to do to kind of get into these new spaces we're looking at who are the partners that align in our values of security and privacy but it will also let us start to build things at scale. And how do we upscale our technologists? How do we work with our legal risk compliance teams who are here learning just as much as we are about this space because we look at it holistically and we think that education is a really key component. So it starts with is there opportunity with our senior leadership saying do we understand the Web3 opportunities? Are we seeing that client and customer demand coming forward and how different industries are shifting and then we say let's pair that with education let's upscale our associates, our technologists start having them learn by doing and then let's bring forward that education to our clients and customers to say how can we efficiently meet your needs today and in the future and then you bring that into what is that interoperability that will enable us to say there are things that work really well in our existing tech stack and those things need to keep running and we need to be able to connect some of the information from there into how we're going to service and bring forward the services in a Web3 world. When we do that we also think a lot about what is on-chain, what is off-chain and those are things that are big considerations and things that when you look at all of the different resources here there are different ways to bring that forward that is a learning journey and that can enable us to bring our solutions faster to market. So that's where as you look at what are you going to buy, what are you going to build what are you going to partner with and we have that kind of history of evaluating that holistically so that you want to show some value and when you want to bring forward there's ways to partner and then there's ways to kind of bring that knowledge in so that you can continue to manage your own tech stack, manage your data but still meet the needs of this Web3 world that is coming forward that's here today but it is coming more and more forward in the enterprise. The other thing that I would say is finding the right use cases is something that we've also talked a lot about. You can't fall in love with the technology. You have to fall in love with the problem and that's something as a product leader we really focus on are we using this technology in a way that is really driving that solution for the problem that is at hand. Where are the friction points that we are having? Is it taking a lot of time? Is it something that we still rely on paper on way too much and we need to go more digital? Those are the things that we kind of look at and we start with. One of the ways that we did it at Fidelity is we have collaboration challenges and we actually bring forward and we say hey this is what blockchain is and this is what Web3 will mean. When you look at your day-to-day what you're doing as an associate working at Fidelity what problems you see or what are you hearing that our clients have and then we can take those into consideration and we can build out one teaching our associates what this opportunity with maturing technology is available and then we can put something into play with a proof of concept because we have that can enable us to quickly start testing and learning and saying is this something that's going to be viable for our clients and our customers? So we did that last year. We had opened up for our workplace associates and said if you're in business or technology tell us what kind of problems you're seeing that our clients are and then we narrowed those down and said okay these are the ones where they're really going to be able to leverage the value of the blockchain and then we turned those into volunteer opportunities where people could work on the side in addition to their day job to say I want to contribute I want to learn I want to understand what this is I want to get hands to keyboard and bring forward some proof of concept six weeks sprint and then we said pencils down and show what you have and then from there we're able to select okay these are some proof of concepts that might be really viable for our business to take to the next level but it's understanding that bigger ecosystem giving them the tools and the resources to learn that'll actually bring our entire company forward as we look at how do we service our clients our customers how do we look at the right problems and then how do we start taking advantage of the technologies that are coming forward in this web 3 space that we're all here today that we believe in and that we want to see come to life without costing our companies tons of dollars or lots of time so I'd say just to sum up when you're looking at how we can bring forward opportunities in the enterprise you have to start with that strategic alignment with leadership understanding that you are using the value of the technology for to solve a problem and not because you're falling in love with the technology but with that problem and then you need to educate and provide the tools and resources for your teams to have that interoperability to leverage what works well today in your tech stack and then to bring forward the pipes or the rails to get into a web 3 world so with that we can open it up to the next stage of just kind of dialogue yeah or I guess any questions are there any questions for Sophia myself okay well I hope that you will all take the opportunity to learn more about the technologies with hyper ledger foundation how collido has served to help bring forward enterprise adoption and then we're here around if you have any other questions thanks everyone thank you so much Sterling