 We've got a good crowd. I think we'll get going. We'll welcome everyone. I thank you for your time in choosing this breakout session, looking forward to discussing and having kind of a thriving conversation along the same lens. As way of introduction, I'm Melanie Cutlin. I am a managing director at Accenture and I actually co-lead our blockchain and multi-party business together with David Treat. I'm also on, I have a role on the board and the Hyperledger Foundation. I'm a board observer on Marco PoloTrade IX. And I've been just involved in this ecosystem really since 2015. So quite some time playing in the blockchain space. And prior to that, I was in an innovation role helping startups kind of become accessible and available and grow into the enterprise business. And so studying the innovation space and the startup space to me has so many parallels and things that fit in this space around what does a multi-party system look like? It has been just taking off, as all of you know, and all of the excitement throughout this whole session and any of the sessions you've been able to attend. We had a piece of research we put out recently that we've been doing for many, many years called our tech vision. And the trend that came through this year as a new add to the trends was about how collaboration through the chaos from me to we was really core to how we think about technologies, how we think about growth. There was a lot of research and materials that came with this as we look at kind of what is happening around the world. Post in about, I think it was May, our CEO Julie Sweet talked to CEOs around the world and more than 80% of them were focused on collaboration. So how do we get through this crisis through the whole lens of collaboration? And so bringing multi-party systems, which blockchain and multi-party systems had been, as all of you know, innovating in the background, this focus on doing it together is the new normal, is the new expectation. It's driving entirely new business systems capabilities and services and getting that right is difficult. We track over 300 consortiums and events and standards bodies across the world, not events, sorry, consortiums, organizations and standard bodies around the world and the progress that they're doing. And so I am happy to answer any questions based on my kind of vast knowledge of our hundreds of clients we engage with across the board, but wanted to share just a little bit today about really what makes a thriving ecosystem successful. Without an ecosystem strategy, businesses don't realize the full potential of their digital investments. What we are seeing is this trend from moving, you know, from paper to digital, many industries have been making that progress for a long time and now digital to truly transformative and then industry-wide and getting rid of the walled gardens, right? Those walled gardens of the past that allowed us to drive a business process, say, come join me in doing this digital first agenda has been an interesting adaptation, right? Of how do we do it? But then this new version of value is where we are in this old messaging-based architecture and needing to unlock the value between participants. And we've realized as an overall economy, we are reliant on each other more now than ever before. And I think it's rewritten the script, right? It's rewritten the script on how do I do a project? How do I bring a product? How do I take it to market? It's no longer about how do I do it together, but how do we engage digitally with those who need to work across this space? So I have just a couple of slides and then we can just have a conversation and share some examples where we are. So if there's any questions you guys have about what we've seen as kind of successful models, happy to just take your questions if you're open to come off mute or put them in the chat as we go and I'll keep an eye on them. But really there's a three-stage process that we see clients going through when they're looking to do a multi-party system. And I say multi-party system broadly, right? It includes blockchain, digital ledger technology, and many of the kind of newer confidential compute and capabilities around here. But they identify and look at the landscape and say there's an opportunity that would require a multi-party system. We wanna work together in ways that we didn't work together in the past. We have a common problem. So we identify those problem areas that are common, find what the scope of common is, right? Is this an industry plays as a vertical? Is this a horizontal? Kind of where is the main focus of this problem? And then convening, right? Convening ecosystems together to figure out what is the minimum viable ecosystem and the participants that can add shared value while they're thinking about what are the motivations and what are the collaborations. And this is the, we all benefit from this shared solution. So we have a common problem together. We benefit from an overall solution. In this convening stage, we've actually come up with quite a convening methodology that takes us through phases. It even includes a pre-convening phase. Because we're a center and we're a methodology driven company and that's kinda how we think about things. But in that, it's before you actually convene the ecosystem together, you've gotta identify that there's a business case for many people to participate. Otherwise, it's a SaaS-based model. Somebody provides a service to the market and they consume it as they need to and they move on, right? Why do we need to come together in these new collaborative ecosystems? Needs to take some time and thought around how do we really ensure that there's value for each of the participants? And this isn't becoming a new extractive model where we're taking value out of the ecosystem to benefit one. But really, how are we thinking about sharing value across an ecosystem for others? And are there participants in this model that would need to participate in order for the ecosystem to be successful that are not incentive to join? So if we digitize a cross-company business process but this person in the middle doesn't want to play in a digital way, right? What are those incentives that will ensure that we have convened the right group of parties or the right amount of incentives? And this is where in practice, I love to do design thinking workshops. I think design thinking and personas and value mapping was all literally just made for this. So if any of you have studied, right, user experience design thinking, it has such a beautiful fit for this in this space. And then the phase that I see most ecosystems forgetting about is to actually keep thinking about and helping it thrive. This is where we build, operate, grow the ecosystem, extend with new products and services and making sure that others can also benefit from this solution. So this isn't just the founders are fallen in love with an idea, they come up with some use cases, but these ecosystems that need to thrive in the post-production mode. And it's exciting to be in hyperledger and talking about post-production modes because many of our programs are getting to that level of scale, right? When we're getting to, okay, we had enough investment, we had enough funding, we had enough startup activity, we had enough development activity to really build a product that could serve us a market. Now how do we create a thriving ecosystem that does all the things that a startup would do? I think of this in very much parallels to the startup industry is that I've got a pro, I got a good idea, right? I'm a CEO, I'm gonna be a future CEO and start my own business. I've got a great idea. I then decide that I'm gonna go build this idea and a bootstrap it and take it through series A, series B funding and I might get other people excited about my idea, right? They're gonna bring in money and funds and I'm gonna promise them some return on investment in the long run. And then the best startups succeed when they don't just say, great, my platform is live, I'm done. Users have an expectation of new products and services and can stay in competitive in the marketplace and making sure people don't leave, right? My solution and go to something competing in the market. And I think when we do early discussions with clients, a lot of them are so focused on day one and forgetting that they're then gonna need to build and contain and drive a well-governed solution for the market in the long-term. And so I think that's what's really unique and different is really driving this strategy similar to an overall kind of ecosystem. So very, hopefully, obvious but not talked about a lot in my opinion. From that perspective, I'm just looking at the comments and chat here domestic and international use cases, fantastic. And so as we think about what it takes to make a thriving ecosystem, not just identify, convene and thrive, but another click forward without having that business strategy, that business strategy that's gonna continue to unlock value over time to think of the stakeholders and what are they looking to get out of these programs so that we create ecosystems that are sustaining for years to come. Not just, great, I've digitized the process, I'm good to go, I'm gonna walk away. And we see tons doing their initial press release and their initial programs, but those long-term multi-year visions, and it is difficult. This is the hardest job to do is to think about what is the consortium that I'm building? What is that ecosystem that we're bringing together and what value can you drive across that ecosystem? Who are the customers we're gonna serve beyond our first group of customers? Because most of them know, right? Like, here's my obvious few low-hanging fruit that I wanna go do this together with, but then who are the next set of customers? What are the products and services we're gonna offer to those set of customers? And perfectly stated to your question here is your operating model, right? I see most consortiums fail because they don't have good governance. And that is number one governance and number two business strategy, probably tied at the top. And the two go hand-in-hand, right? Part of our convening methodology is, did you assign a board of directors? Did you assign actually a new company that's going to come together that has some joint ownership model across multiple organizations? And who is in charge of deciding what's next, right? So what's first is obvious. And what's second and third is probably pretty obvious because you all go in with scope and you're excited. And so the governance has many different layers to it. And so I can kind of talk through what are those layers? But you need a CEO and a CTO and a CFO that make sure it's continuing to drive new value and thriving throughout the model. So it's, I think, an exciting space to be and to think about what do you want your it to be when it's done? Is it gonna grow up and have its own, will it be a startup someday? Or is it truly just kind of staying a startup body in the near term? So new entities in consortiums, serving ecosystems can be done in a couple of different ways. They can be done in for-profit or they can be done in the non-for-profit space. A lot of the most successful ones I've seen are in the not-for-profit space, interestingly enough. So they're creating the standards, they're providing a platform for the industry, they are driving that value sharing model and different participants are then able to engage in that. And so those organizations that exist just to serve their members are done with what are perceived in the market as just humble intents, right? And so when you say, I'm gonna create a non-profit organization, you're more willing to get competitive organizations to stay together and to both participate. And so I think the, if you can just one, I'm sorry, have a munchkin knocking very, very patiently at the door. Yes, no answer. So the idea of the friction between a for-profit and a non-profit company is really just, what's my goal? I've seen a lot of consortiums that come up with the big founder-led ecosystem. There's a lot of benefits for day one of a founder-led ecosystem. They can bring their groups together with them, right? So they have that convening power of you're gonna do this because I'm gonna go away, you do business with me, and come join me. And what they end up doing is disincenting their competitors from joining with them. If every time company A is the founding body, they have lots of members joining their consortium, but company B is a competitor to company A, if I know that every time I transact, even a penny goes to my competitor and disincented from joining. Even though it may reduce my overall cost of ownership, but I'm giving money to someone who doesn't, is not where I'm hoping to give money to. And I think in those competitive solutions and engagement models, that's where the nonprofit space has been more productive in convening unlike competitors to come together and drive to a common outcome which drives new standards, right? So if you think of standards bodies that have made a big difference in industries before I take GS1 for food, Moby is doing something similar for the auto industry, they're trying to create what is the new vehicle identity standard for what's in a car? And how do I encourage all the auto industries to not just say, here's my digital twin of a car, but actually be able to communicate more actively with a thriving ecosystem of members, like how do I pay for, how does my smart car pay for a service that it's consuming, right? And so it's creating much more of an industry wide story. There are plenty of places for the need to fill a gap where there's not an existing technology in a more startup based model. So I think where people are coming straight out with that intent of I'm going to serve the industry, I'm gonna help you integrate across an industry and I'm gonna do this as a service provider to you. So come join my company, it's much more viewed as a vendor or a startup and invest in me so I can almost kickstart the company, keep it going. But it's clear that this company is gonna exist to make revenue and serve its members. And so I think it's just what you're starting with that is most important around that. And so I said there would be layers to what happens there. So there's the governance layer of what do we do together? There's a commercial layer of how do we share value between this new ecosystem and there's a technology layer of making technology decisions. So we suggest that most groups have a business steering committee, a strategic steering committee, a functional steering committee and a technology steering committee. And that we make sure there is a way for each of its members to really understand and make decisions even as you hit a stalemate. I engage with plenty of vendors and service providers and I'm thrilled to say I think your product should do this. I was on the phone with a obvious office enablement tool the other day and I was like, gosh, I wish my screen sharing tool would do this. I wish it had a button that did that, right? And I wish our company could convince the vendor to do that. And there is normal ways to share my user enhancement requests with a vendor today. And you know that it's gonna get on a backlog, right? And that backlog will get groomed and it may or may not get slotted into a future product and they'll make business-based decisions based on how much, how exciting that product is and how much new revenue that product and feature and function will create. So we're used to that decision-making process when we're looking at vendors. In an ecosystem, there's a bit of, in a consortium there's often this mindset of, well, I'm a co-founder so my voice should win. So the idea that there needs to be a way to break a tie and to drive, even though we're all pooling together resources to make this happen, we would need then a strategic steering committee just to repeat it, right? A functional steering committee and a technology steering committee that helps to drive through and it can't just be everyone gets a voice and everyone therefore gets an expectation to get the outcome. There has to be a democratic decision-making process with some, back to a CEO, a CFO and a COO that are a CTO that are gonna help you really manage the new consortium as a business because that's what has to be a thriving business the end of the day. Another piece of governments is what do you do once you go live when there's a support ticket? Who are you gonna call? Who's gonna fix it, right? So I love open source programs and I think there's so much room for this in this space but you also need to have, if you have a critical service you're providing to your consumer base whether that's enterprise or consumer you need to also have the idea of a basic support model the infrastructure needs to be monitored, right? Who's gonna do cross network infrastructure monitoring? Who is going to send out the email that says we've got a maintenance release coming and you all need to upgrade, right? We're in a distributed system I can't just call my IT department and say wait for my Saturday bug fix I can tell them to work a funny hour and to be on call and make sure it goes smoothly, right? We have to think about these things and now a new way you're providing a critical service to your customers and those customers are often enterprises and businesses that are relying on what you've now, right? To drive the consistent value the worst thing you'd want to happen in a consortium like I said, company A and company B are competitors they're coexisting together if you picked a maintenance window that actually is like a peak usage time of company B and then company A is in trouble, right? Like how are you going to get through that perceived PR problem? So the ability to have a governance model that sets up what are my operating model? What does it look like? How does all the way from support to application maintenance to infrastructure maintenance how does it get monitored? How does it do all the things we do in any of our businesses today? So if you take a startup model and you apply it to a consortium you end up with all those business thriving ecosystems things you need that are more than just the technology but don't get me wrong the technology needs to work the technology needs to be redundant it needs to work it needs to be cared for and it needs all of those things that are fairly obvious in any technology solution that I feel like as technologists in this emerging tech space we get that naturally but I think that's where it's often less obvious is the building the wrapper around it to running it as a thriving business like what's gonna happen if six months in there weren't as many transactions as you thought and somebody now needs to pay for the support team and what are we gonna do, right? We're gonna run a marketing campaign and get more users to put more transactions to end up to cover the books, right? Who's taking the liability for, you know quarter three was low usage and how do we get it back up before the end of the year so we can close our books on the consortium or make a new cash call from the members that are parts of those investors and so thinking about some of those things I think are just as important as finding the right shared value story that you're gonna focus your consortium on I assume all of you came because that's important, right? Because you're here because you think there's a share of value kind of across the ecosystem and so it's fairly basic that's all the slides I had of a concept when you think about it but a lot of people don't stop and think about it which is why I wanted to have this session to just kind of give you some different thinking depending on where you are in the process of identifying something, convening something or already there and struggling with those growth and scale problems. So I'm gonna take a breath and read the question we are in Q&A time so I would love more questions if you wanna come off mute or chat them in the window. So mandate democracy, that's interesting I'm curious what that means more than the blurb here if Lester you wanted to come off mute and talk for a little bit. Not sure if everyone can in this platform actually so I would love to answer your question but I think it was an interest and a solicitation for discussion so happy to discuss in the right spot. There is a Q&A over here let me check out this side. Under right, medicine participants until they get on board there is a lot of strategies like that being implemented. If you take platform ecosystems or as a great book, platform economy a great book of talking about when the whole platform movement came when you've got platforms like Facebook and social media and Uber and others where they actually don't drive the content creators and the content consumers the idea that you want traffic on your platform whatever it is for in any industry if it's supply chain financial markets if it's across different use cases there's often a I need you so I'm gonna underwrite you so that I can get you to mass scale and those types of platform strategies still apply here well of how long do you need to underwrite that how long do you need to subsidize activity on your market so you get to network scale so that people see the value of the network before turning it into kind of a more commercial model. Hey John, welcome. Glad to see you here. Can you discuss how multi-party systems can help healthcare organizations in a post pandemic world? Ooh, that is fantastic. Convening healthcare providers is tricky right in a couple of different ways. So maybe I'll break it out as to how I think of I think there's three core components of healthcare. There is patient identity, provider identity. There is medical records and histories and then there's benefits and benefits have things like accumulators they have smart language around what are the benefits and who is applicable in what situations I guess it's for if you take patient and provider identity then the actual medical events themselves as well as then the benefits and the accumulators and the applying logic on that. So if you think of those kind of three buckets I'd say identity services and then logic applied for who's eligible for what there are lots of emotions and activity I actually love what many ledger is doing is getting lots of excitement around medical charge backs which are between a pharmaceutical company, the pharmacist and then the benefits administrators and the number of costs and dollars that go in every direction in that use case which is a clear need for a multi-party system that tracks the ledger of information so that you can follow them backwards without kind of double spending and any given purchase in the pharmaceuticals industry I think is a great example in a simplified less regulated space. I do see lots of innovation happening to even take vaccine passports have been a great move in the space where you can carry with you credentials and information about your medical history that can then be shared with multiple parties without actually revealing the core information underneath. I can have my coupon for my oldest just got their vaccine yesterday and gave me the little card and information and so many places to travel you just need to know that I consent that I have a vaccine not that all the information about it you just need the yes no answer and so multi-party systems are doing a good job of that consent-based architecture as well but it really comes down to over time we will have a better sense of knowing who is the patient, who is the provider so in any transaction that I transact with Dr. Smith in Chicago is probably many Dr. Smith that I'm billing the right Dr. Smith that my insurance information doesn't append because of a disconnect that my medical records become accessible over time as I get better and better and much of that means this offline storage capability keeping my medical records in its vaults that should be today and showing that information and then just like I said how I accumulate the spend against those activities. I love the last one here which is what incentives encourage participation and the character of the stick I think that really matters which use case you're talking about and how long you wanna try one versus another nobody wants to be incented with a stick for very long now unless you're in a highly regulated place where the penalty in the stick is a penalty for not providing the right information I know regulators have been excited about the opportunity to have notary nodes and things that can be seen in different spaces so I think the encouragement is hopefully there's a shared value pool where everyone is getting savings but savings is usually not enough you also wanna reinvent the process have it be faster, faster, more accurate, more competent driving down less exceptions in any exception management process that alone is usually enough to get you started but then like you said you have to create more features and functions over time that allow you to keep stickiness to them just like any startup what does you think of the new consortium? So just two minutes left I'm just gonna maybe shift to close thank you, oh I see one more question popping in so I'll read through this one in a situation where one of the members is being disintermediated I go back to kind of core language that if you're a company that's not adding value in an ecosystem is the time when disintermediation becomes your company should be providing value and there's often ways people need to reinvent themselves and think about it in new ways I think your minimum viable ecosystem needs to take all of that business strategy into mind of who do I need and if someone I need is being threatened by this solution then your business strategy is probably a bit off for how do you start so how do you kind of get started in those spaces and I'm sure with exact examples we could go through lots and lots more but they did ask me to close on time so I'm going to wrap up from here I just thank you follow us on LinkedIn or Twitter other platforms are excited to be sharing lots like I said Accenture is engaging with much of the corporate enterprise landscape continues to have insights on how not just how the technologies are evolving but how we are using that to create real value that gets unlocked around the world so excited to be here thank you everyone for your time