 chord here. It's on. It's on. Beautiful. Okay. So welcome folks to today's hyper ledger supply chain special interest group. Thursday, what are we November 12 here. And today we have Ravi, Yaga Nathan from CripSea to share with us a story that they've built and they've worked on. And one of the things that Mark and I've been talking about and a lot of you have chatted about is that ROI, where can we get started working here more stories that have ROI. So Ravi's going to take us through some of their stories, some of the work they've done. And he can answer questions both from a business perspective, as well as a technical perspective as we go through this. So thanks for joining and Ravi, I'll turn it over to you. Hey, thanks, Tom. Thanks for the nice introduction. And you know, nice to see a very powerful team here. And just without wasting much of my time, I'm just getting into the presentation. The presentation format is in three parts. The part one is a little bit of introduction about us. And then going deeper into the supply chain projects that we have done. And then later, I will give some time for addressing the questions, if anybody has anything. So quickly, Cripsy, we are a, you know, a five year old blockchain technology company. We are just sitting on top of Hyperledges. And what we do is we have our own solution for CripCore. CripCore is an end to end blockchain as a service, full lifecycle management technology platform. It's a low code and a domain agnostic and cloud agnostic. So CripCore almost reduces 90% of programming efforts. That means very deep cost saving that allows the new startups and also corporates to make sure that the Hyperledges solutions are really cost effective and giving them adequate commercial benefit. Because if we don't, you know, plan or cost the world, the return on investment of any Hyperledges solution could be highly questionable. And in our experience, lots of projects in the initial stages, they found that it's very cost, you know, highly, you know, the asset heavy model. So it's not producing enough returns for them. So we decided that we should focus and then build a technology platform that helps organizations and commercial enterprises to build Hyperledges solutions and fraction of cost and also quickly. That's more important. And it is they're able to scale as the ecosystem grows. So that's what CripCore is about. So Can I ask a quick question about that to CripCore? Or maybe you're going to talk more, you're going to talk more about what what a fabric or what what Hyperledger projects does it deploy to? Is it fabric? Is it sawtooth? It's fabric. We work only on fabric. Okay, right. But it can be deployed on other flavors of Hyperledger. But we are just doing research on a couple of other Hyperledger flavors. Right now, it is Hyperledger fabric. All right. Okay, good. Thank you. So we can we can build the point, manage and scale. It's a log code. So it's not going to take a lot of time or programming efforts. So if you have an idea, then you'll be able to quickly have a solution. And then probably it is not only quickly having a solution, you will be iteratively move up to the production without making much of our programming efforts. That's how CripCore is built. And the pillars of CripCore, I would say we have got four modules. Studio is a local environment. It's a drag and drop tool where you can define what your processes, events, data, and also users. And it's, you know, it gives a very quickly, it gives UI that you can test the solution. And also it generates APIs and it's a fully automated. And then the workbench is something like GUI driven. If you want to manage the applications, the real time environment, the workbench helps, you don't have to, you know, code anything exclusively for that. And it also comes with the data lake. Data lake is something, you know, you don't have to directly query the, you know, the protocol for any of the reports that you want to run, maybe the data lake takes care of that. And then the data lake also is helpful in terms of data analytics and other things that you want to run. And then finally through code boss, you know, in any cloud, you know, it brings all the artifacts of the respective cloud so that you don't have to really get deeper into cloud. And also it's faster to deploy in any cloud. That's how it is. Right now, we support four different clouds, but we are also expanding our cloud presence. And then the differentiator, as I was mentioning, is cloud agnostic, cordless way, high throughput, you can see because of the data lake kind of a value add and then economic viability because once the asset cost is reduced, then always you can see the return is justified. So that's how the economic viability is assured. So that said, the core part of the presentation is about supply chain use cases. We have done closely about eight use cases, but only two of them are in production. And others are still in either pilot or POC, but it feels mature at some point in time. And some of the projects we have worked, I mean, we may not be able to talk in this forum, but as we go, we can bring our clients to this forum and they can talk about it at appropriate time. So the first project is about the chocolate supply chain. It's connecting the chocolate cocoa growers in equator to the brands, chocolate brands in Europe, and the retail chains in Europe, and also connecting to the consumer that's chocolate lovers in Europe. So all these participants, even including in between the processors and logistic companies, everybody is connected in this program. And what happens this program, you know, every now and then we keep hearing question like, okay, why are we doing it? And is it, you know, really producing any economic value or commercial benefit for any of the participants? That's a question we keep hearing. Here it is very clearly, you know, demonstrator, because I don't have the video to show today, because it's 20 minutes, so I couldn't take the opportunity of doing the video when we have got a complete program in video. So what happens that the chocolate bar has got a QR code. Once you open the outer layer, inside layer, there's got a QR code. If you scan the QR code, it connects to the program, and you can put your credentials, your email ID, and then your register and immediately you can get to see what is the complete the trace and track of the chocolate bar. You know, it is not just a static, it's dynamic. So for every chocolate, for that batch, it gives, okay, who's the farmer who grew that cocoa plant and the entire chain. So you'll be able to see through the entire chain in a lovely UI. And not only that, it gives you the benefit of the loyalty, because what they have done is the marketing budget, they've just converted that into this loyalty program in this blockchain, trace and you know, this program. So now you can claim your loyalty. And also, you can donate a tree, you can plant a tree for a farmer whom you are seeing in that, you know, when you when you scan the QR code, you're seeing the farmer and his family, and his needs and values in the world, everything. Now, as a faculty, probably you can back some of the points. So assuming that you get three points for every chocolate that you are going to, you know, buy and eat when you scan the QR code. Now you have the ability to probably, okay, I don't want these three, you know, points. Instead, I will give donate this to that farmer, he can benefit because I like this chocolate. And not only that, it shows all the important, you know, certificates that this entire manufacturing process that went through, it could be, you know, your food certificate, quality related certificate, organic related certificate, all these certificates are also part and parcel of this program. So no, in a very, you know, a simple way when you click the QR, you have the ability to see the entire chain. So now the brands take this as an opportunity to promote that brand, because when they, when they give this kind of a transfer communication to the consumer, they believe that the consumer is willing to pay a little bit of premium price, and also they can retain the consumers. So that's a very, very effective. One of the universities in, in UK, they are, they've completed that research, but they have not published yet, but since we are part of the program, we have worked some kind of understanding how economically the brand is getting benefited because of this program. And without going deeper into the data, I will be able to show some of the benefits in the following screens. But I would say these are all common benefits in any supply chain that we can think of. And before I go to that slide, I will talk about another project, which is again, you know, agricultural commodity supply chain in Dubai, it's called, you know, DMCC, it's a, you know, commodity exchange in Dubai, and they procure the agricultural produce for the exchange from India. So there is a whole lot of, you know, it's a, it's a vast country, and, you know, there's source of produce across India, but at the same time, they want to make sure for better transparency and also trust, because if you are, if you're going to put some dollars in, in trade, commodity trading, you should be assured that there is a really underlying commodity available somewhere. So they want to bring that trust layer, and they want to capture the entire supply chain right from the farmer or agricultural farm level, and until it goes to the warehouse, and in warehouse also, they maintain the entire inventory and through API, it is connected. Now, the exchange has got a complete visibility to their, the underlying asset that is, you know, available right from the farm until it is coming to the warehouse. And also whenever there is a asset going down, the inventory going down. So accordingly, the value of the exchange, you know, the corpus of the exchange should come down. So all these integrities are addressed. And this is purely, you know, it is a trust based system. And the lack of such trust, they used to have some very, you know, laborious, complicated system in place, where people used to go from place to place, and then keep doing some verifications and audits, and give some certificates, and there are time delays, there are reconcilations, and a whole lot of challenge because of, you know, it's not every day, they have to go through these processes. It's not like once in a month I'm going to do. And this becomes very complicated. And assurance of that certificate, whoever is giving that certificate is sometimes is questionable. So that's why they believe that this kind of a trust based system is essential. And then on top of that, they would like they want to build multiple business models, multiple dApps, all those things they want to build. So this is the second system that we put in production. And just to give you the glimpse of, you know, for example, this is the UAE India introduces blockchain platform for traceable trade. In this, if you go to the last paragraph where backway divide multi commodity sector, that's where the blockchain component is used. And we develop that blockchain component along with our partners, and we deliver that for achieving this, you know, trust based marketplace and also trust based exchange. That's what we have done. The next one is I was referring to the chocolate connecting consumers with the farmers. This is again, you know, it's in production. And it's going very good. In fact, brands are demanding much better price. And also, the plant equity is going up because of such programs. These these two projects that we have done. And when it comes to question of value drivers, I would go from on the right hand side top, you know, one o'clock I will go, it's cost, you know, definitely it's it's bringing down the inefficiency in the system, both in terms of time and cost, because of certain intermediary processes, because people are, you know, for example, if a logistic fellow or a, you know, if he has to give some information, it takes a lot of time for that information to come into the system here, directly is feeding that information. So there is no delay. It's just an example. So there's definitely the cost is a primary, you know, kind of attraction at this point in time for anybody who's looking at supply chain program to be deployed in blockchain. And the second one is the social purpose because of, you know, everybody is keen nowadays to demonstrate and encourage the sustainable behavior because this is one of the ways they can clearly demonstrate to the stakeholders and also to the customers and to the society, which will take them ahead of the competition. That's what they believe. And of course, compliance and governance, as I was mentioning, if you are talking about, we are using organic, you know, the producers, then definitely we need to see some compliance and governance coming in our way, because the governments are more keen, like, you know, the food regulations and a whole lot of stuff, they need to meet it. So the corporate believe that it is easy, there's no additional cost, and that they can substantially demonstrate the compliance and their governance. And then Ravi, can I ask you a question there? You talked about certificates earlier. How are you providing the certificates or providing the, I guess, certification is probably a better word that things are actually happening in the real world and translating into the digital world. Yeah, we provide maybe let's talk about the chocolate bars and the chocolate from Ecuador to Europe with this. The other bar is the name of the is the name of the chocolate. That's right. Okay, so let's let's talk about that one. How's that one? In the other bar, we are not having any organic certificates in place. But in the commodity exchange, there are certificates. For example, if somebody is saying that I have this, this produce and I'm going to have some, you know, 10,000 pounds of produce in my warehouse, and there is a certificate with respect to multiple things, whether the fair house is what kind of a grade that fair warehouse is the fire, you know, proof, and there are multiple certificates that they will be requiring or they have to prove. So they right now, there are two ways that they do it, you know, through articles, we can, we can, you know, they can upload the certificates, which are in the paper form, because in India, as you know, not all the certificates are in digital form. So we need to make sure that it's the paper form is available. And some certification, where through API, the certifying authorities are willing to connect, they can like, for example, the appellate, the agricultural produce export department in India, they have a fully digital system. So we can give an API and through API, whenever they are giving a certificate, they can also put a digital certificate into the into the blockchain network. So this will eventually, that's what will happen. So the paper based certification will disappear. And then the entire system will be the digital certificate will be available in the system. So that gives a complete prominence for the certificate because it has got a timestamp, it has got a location stamp, and it has got a digital signature certificate of issuing authority. So it gives a complete immutability and also the trustworthy certificate is available in the system. So that's how we are considered in the system. Now, coming to the new business models, for example, I'm giving back some donations to the former and say, I can create a loyalty program, which is a which is not conventional loyalty program. So these are all the new business models that brands are trying to adopt. And there will be multiple business models they can think of. And just these value drivers is generally for any blockchain solution and talking about and brand equity and revenue is again, you know, if you are able to substantiate that the provenance of your product, then maybe you can avoid some duplication or, you know, somebody climbing that I'm also having the same chocolate and we're making some, you know, small changes in the name, people can sell a chocolate but here completely the consumer will know that this is the brand and in the store when I'm sit standing there, it gives the complete trace and track and up till the store. So I know that I am buying that brand which I can trust. This is a complete provenance that coming in. So these aspects are going to give some revenue benefit. I'll talk about the specific the project what the first project what we have done. These are all the value drivers directly that we have seen because it's giving the sustainability information for informed buying because I know I'm buying this chocolate which is sourced from so on, so on, so place. And I know that you travel through this, you know, logistics system and the processing happened in 123 points. And finally, it arrived at, say, Albert Heine in Netherland. Now I'm standing in that store and buying and so I'm taking a well informed decision. So before buying or at the time buying. It's not like only I know the brand and I'm buying it. So everything that I'm buying, giving me that well informed decision. That means though the new customers, you know, will be able to, you know, onboarding a new customer easy because if for example, a new product somebody is launching if it is a new brand. So, you know, for example, there are a lot of new generation food items. It's like the like meatless burger, you know, it's really not a meat, but it's a vegan, but I believe that it is meatless. So there this kind of a, you know, approach will help for them to onboard new customer. And then that will increase the revenue. The next one is the loyalty token, because I think it's a good question on the revenue side. Do either one of these use cases have revenue figures or is it more kind of a this is anticipated? No, no, they have new figures. In fact, I was mentioning about one of the universities in UK. They have done a study and just they're about to publish probably in a week or 10 days that we're publishing. Maybe I will share that quote with you. You will have a clear understanding of what is the price benefit they are looking at. Okay, good, good. And then I can put it in the wiki together with the recording here so that people have access to it. That would be great. Absolutely. And the next one is, you know, it's customer retention because when I get the royalty token, because nowadays look at the chocolate at chocolate bar level or if you are drinking some beverage, you know, at that beverage level, giving the loyalty is very, very, very impracticable. It's not, we have not seen that kind of loyalty at all. You can get loyalty when you go to the Hilton's or you can get loyalty when you buy an Emirates, you can get loyalty when you buy Louis Vuitton, all those things are possible, but not at the FMCG level. It's very, very difficult. And here, at every product, the customer just punch in their email and then they get the loyalty because they become part of the system. So when they enjoy that part of the system and get the loyalty, when I'm consuming something that gives me the, you know, it's, it's, it helps to optimize the average realization for customer. I don't mind paying, you know, once I'm with customer, pretty continuously I buy the item and that optimizes my average realization for customer because as you know, the customer acquisition cost at that kind of a market is extremely high because I need to do some kind of a promotion in the TV, in the multiple media. So that cost I need to recover. So the average realization is the only way that I can recover my cost of acquiring a customer here it is possible because the loyalty tokens was not possible in the past. And then comes the, the transparent sharing of my entire data. You know, probably again, I can say that none of my factory employees are, you know, people below say 15 years. So none of my other, the factories are fully of high quality and good standard. So those kind of information when I put it in the, in the system, then it enhances my brand equity both from the stakeholder perspective and also from the market perspective that's what it is. So this is, you know, this, this kind of information probably not in these two projects we have done, but we have done another project which is kind of you know, tracing and tracking of a pit waste, pit water waste from the corner of some of the Indian rural area and that got converted into a pit yarn and then it got polyester yarn and it got converted to garment. Now people in Switzerland a brand called Switcher, they are buying that and then they are seeing the entire trace and track. Now look at that the brand's equity is going down because of this kind of a practice that is possible using blockchain. We have done that in Ecuador as well. And the last but not least is that the factory is so laid out, you know, through API people can connect us to, for example, there is a Albertine that store I was referring to, for example, it's not a real game, but if they are putting the data into through API, then if you are standing in front of the aisle in that store, then you know when you buy that, you know exactly this travel all the way to that store aisle and I can reasonably assume that this is the original product. So the combating the concrete is possible which will prevent the revenue leakage. Again, there's a study and then there's a published report that 6 to 7 percent of any consumer product is a kind of account fee. So that means every brand is losing that opportunity of the revenue. Now this helps, so these are four important areas where we believe wherever we have done this supply chain project they are able to substantiate their cost and one side using the core, the cost is extremely, it is efficient probably, you know, comes to a third of the cost of grounds of development and then on the other side if we can substantiate these four or more value that they are deriving from this program then definitely the ROI is substantiated. So now what happens on, this is only the beginning, right? Now on top of this you can build momentum gaps it could be, you know, anybody whoever is a participant they can build their own DR and they can see that they can bring some business models through the DR and they can benefit. Now these four, you know, value drivers will substantiate the majority of the investment and any delta investment that is happening at a DR level people can benefit or people can do it for various reasons. It may not necessarily for the commercial benefit. So this is what we have been seeing consistently in the last, you know, six to eight quarters that companies are more interested or brands are more interested or new generations, startups are more interested because of these reasons. And yeah, having to... Actually can I ask a question there Ravi? So on the other bar and the agriculture commodity exchange let's take the commodity exchange. Who came to you and who was part of the network, right? And how did they work through the challenges? Did multiple people have to put out money in order to do it? I know you can't share out everything but you know the challenge of blockchains and getting people to agree you know sometimes it's just one organization. So it'd be interesting to hear your thoughts on the agriculture commodity exchange or the other bar, the chocolate, you know, who drove these things and said this is what we need and who also needed to be involved in it in order to make it real. Sure, see you know some programs are driven by the very new generation startups, for example the other bar. The brand is the other bar but it is run by a fair chain foundation in Netherlands. It's they are the anchor for bringing multiple brands, it's not only other bar, they've got a few coffee brands that they have brought on board like Moe, Coffee and others. So they are taking that initiative to make sure that the farmers in Africa, they are not exploited by some large brands that is the fair trade and you know they want to make sure that the fair trade is in place, the value distribution is demonstrated transparently that is their objective. So on top of that this kind of you know the supply chain program from farmer to consumer they they wanted to bring in. So that is how fair chain took anchor or a leader approach in that program. When you talk about commodity exchange, commodity exchange by itself, they are the ultimate because the beneficiary because they are showing the true the trustworthy asset layer in the system. They were finding it was difficult for any exchange to show that the in a trusted way about the availability of underlying asset. So there are always intermediaries but this is the with blockchain they were able to substantiate that. So they were able to bring in all the participants into the ecosystem. But as you very well said, it's most of the ecosystem participants may not come in on the day one, it's going to take some time but they have brought in some critical players into the system in the first phase now and as they move along they are going to bring all the ecosystem player for example if there is some warehouse you know some of the warehouses probably may not be participating in the system because right now they may not have the technology where with all or anything even they may not have the commercial you know viability to be part of this system. They may not want to know and they may probably give some information that's all. But over the period of time there will be incentive for them to come on board. So it'll happen they have got a very clear plan in front of them in probably in few years from now they will see all the ecosystem players coming on board. So right now the key beneficiaries and the leader I would say they are driving this kind of adoption with the next layer of the participants who are also benefiting. So they are bringing up into the system. In both these cases this is how the ecosystem is getting back. Okay so the bottom line is that in the chocolate story it's this foundation in Netherlands and the agricultural commodity exchange is these folks DMCC and in Dubai. Good drawing. Okay good yeah and it sounds like they picked a few key partners to work with. They didn't try to boil the ocean through there. All of the different potential players that are out there they picked a few that would be important. Yeah they clearly they understood boiling the ocean is not possible. So they want to make sure that the ocean gets boiled. Yeah yeah okay good thank you that that helps. Yeah so about Cripsy we have done multiple projects just it's a sample you know we have done close to 50 plus projects using our CripCorp and the weight of them are in production too already I have mentioned and these are all different kind of a large corporate you know good will that we are enjoying in the market and thanks to most of the corporate accelerator programs all of them you know they considered as one of the cohorts and with that help we were able to get deeper into the market. Okay good good so let's see well without any questions are out there from some of the folks that are in attendance here directly on this and I guess maybe I have a question for you how hard is it with the the CripCorp I guess it'd be called is it for developers is it for do you have to be a developer in order to use the workbench or the I can't remember the drag and drop kind of thing that's more my edification. Well it is definitely you know you would not be a developer to use a CripCorp because it's a drag and drop tool but again it depends on the complexity of the program if you're going to have too much of business logics and rules and you know then probably you may have to do certain degree of scripting but it is again not too complicated programming you know it's just a java scripting and the remaining that you if you want to have a very fancy UIs then probably you need to have some kind of external UI agencies who can build UIs because our UIs are straight you know it's not fancy it's just a simple UI for you to test the application and program. Okay and I guess I'll ask one other question here we'll see what else we have before we wrap up. Where was the biggest challenge with blockchain in each of these projects for not so much for yourselves but for the organizations this foundation Netherlands and the DMCC folks? Well the foundation in Netherlands started in 2017 as a pilot and at that time you know we did not foresee certain complex scenarios that we may have to manage in blockchain one is obviously the GDPR because we want to make sure because the brands in Europe they are obviously you know bound by GDPR and they do not deal with the personal identifiable information in chain so we had to architect the whole program to make sure some of the PII information are off chain and that's number one and number two we you know when we model the architecture and the infrastructure you know based on certain business information given by them in terms of number of brands number of consumers and number of you know the documents and all those stuff that may come into the system there is an again you know because we do not want the infrastructure to grow you know exponentially so we had to do some architecture to make sure that because just to blockchain putting a solution developing a solution itself is not the cost as you know the infrastructure is a biggest challenge as you scale up so we were able to you know understand that very well in the beginning and then we kind of a size it very well and also with architecture so now even though if you load some you know heavy data at some point in time we will make sure that it is not hurting the ecosystem participants okay other than that we did not have any issue because see primarily the objective of CripCore is to make sure that any technology challenges are well addressed and that's why we brought in data lake for example and also we have got our own the CripCore has got certain queuing mechanism to make sure that no transaction is unattended so there are multiple than also we have got a key world interfaces available so all the practically you know if you can think of any you know challenges when you run a blockchain we address all those challenges in CripCore so pretty much that that was helping in maturing to the production okay good let's see if there's anything out there from anybody right I saw that you had someone commodity pool operator insurance I'm not sure where that goes but if you want to spoil he already he already he already answered it so it's uh the Netherlands Netherlands and Dubai thank you okay beautiful okay I had a question this is a little from GS1 US a question on identifiers you know did you run into any product identifiers you know issues I mean in your proof of concept or in your project where you're using the manufacturer level UPC or GS1 standard it's just curious to understand the scope within consumer goods well because we are talking about the sudden you know bulk you know producers coming from the farms and then they are getting converted into again bulk before it reaches to the brands at brand level there was manufacturing and they have got a complete the serialization programs and multiple things you know they have got their own because it's not the first time they are selling they are already into the set an ERP system so they were able to read the data from their existing SAPs so that we did not get any any complications at all but at the same time in crypto we have got certain binding rules for example if you're bringing a you know a brand or say one particular product and we will make sure that product ID is you know unique so there is a binding rule I can define so that way you know there because we want to make sure there is no garbage coming into the system so that's how we manage but we do not get into deeper on the the mind side of it because they will take that responsibility they they took that responsibility to feed the data into the system the the uh uh you know making sure the data is a not uh uh you know compromise or rather the the data is not far that is checks and balances that we have kept in crypto so thank you yeah I think that identification unique you know comment that you made that setting upon because that's what you know the G10s or GS1 UPC or global trade item number whichever name name you are familiar with that actually is already taking care of the fact that the item is is unique across the industry so right so the like a coffee item should not be mixed with a parallel or with the health care item so okay thank you good anybody else out there before we close up beautiful well Robby thank you very much for you in the end of the day prize here thanks for calling in from Bangalore and uh sharing the thoughts what good work you guys are doing there at Cripsy supply chain these two use cases we'll look for that document and I'll add it to the wiki there so that that's good and then I'll stop this recording I'll be out back out there for the folks that are on this are listening uh on the recording here we will not have a call two weeks from today which will be us Thanksgiving and then in December we're going to slide by a week we're going to have uh 12 3 so the 3rd of December and 12 17 our next two calls on the 3rd of December we have Patrick Duffy from bit up who is going to share the latest uh on what's going on with bit in the standards work there around shipment and bill lading and various other things so we're looking forward to that one so thanks for joining here either on the recording or live in Robby and Cripsy thanks for sharing your use case stories here and I I'm not sure I have it but Robby why don't you just say your email fat real fast here so that uh folks have that in the future sure Robby is Revi at Cripsy.com it's K R Y P C Robby at Cripsy.com beautiful okay thanks Robby thanks everybody for joining and enjoy the rest of your day bye thank you thank you everybody bye bye thank you bye bye