 Well, hello everybody. Good morning, good afternoon, or good evening, depending on where in the world you're joining us from. Welcome to our Hyperledger in-depth member webinar with Kaleido. We have an exciting webinar for you today with Kaleido on emerging tech stack for digital assets and asset organization. So what are the lessons learned and what's coming next? My name is Tomas and I'm an ecosystem manager at the Hyperledger Foundation. Today I will have a chance to introduce our panelists and also take you through some housekeeping. First, I would like to emphasize that everybody is welcome in our Hyperledger global community. We are committed to create a safe and welcoming environment for everybody. So please follow our Hyperledger code of conduct when interacting with each other on this webinar and broader in the community as well. You can find our code of conduct on our website and on our wiki. Now some general housekeeping rules. So all the Hyperledger member webinars are held under the Linux Foundation Entitrust Policy. You can find our Entitrust Policy on our wiki and on our website as well. This session is being recorded and also live streamed on YouTube and LinkedIn live. So if you have any questions and are joining us from the live streams please use the comment option to comment there and we will ask these questions to the panelists as well. The recording along with the slides will be available in our webinar library which you can find on our website. Now we encourage these webinars to be as active as possible. So please stay active too and the more active you are, the better experience everybody will have. So feel free to raise your hand and we will unmute you and you can speak up and ask your questions to our panelists. You are also welcome to use the Q&A box to ask your questions or also pop them in the chat. Now without further ado, I would like to introduce our great panelists for today, Steve, who is the founder and CEO of Kaleido and Bob, who is a Head of Solution Architecture at Kaleido. We're very much looking forward to this exciting presentation and Steve and Bob, over to you. Don't loss. Well, and if you don't mind stopping the share so that I can take it over, that would be great. Thank you. Well, it's great to see where everyone is joining in from. So hello to you. It's a, I am based in Raleigh, North Carolina on the East Coast of the US and it's a somewhat dreary winter morning here. But very excited to be connecting with everyone and talking about digital assets. I'm going to start off this session with a presentation that I actually originally gave at CYBOS a couple of months back. Just sharing some of the observations that we're seeing at Kaleido in the digital asset space. And then I'm going to turn it over to Bob, who's going to drive a little after the halfway mark and Bob's going to drive a hands-on demo. And then we'll try to leave some time at the end for discussion in Q&A. So if you're not familiar with Kaleido, real briefly, we're a web three and digital asset technology company. And our mission is to make these technologies radically simple for enterprise. We've been in the space since 2017 and myself and Bob and others have personally worked in the space even dating back to 2015, really from the beginning of enterprise blockchain. So we've seen a lot of technology, we've seen a lot of changes, but as Kaleido, our mission remains the same. And we work with Fortune 500 companies and help them on their journey to adopting digital assets, blockchain, doing a lot of work in central bank digital currency, which I'll talk a bit about throughout this presentation and other web three use cases as well. So just the final thing on Kaleido before I switch into market observations, this is our technology suite of products. We, if you've heard of Kaleido especially if you've been in the space for a long time, you may think about us in chain infrastructure sort of down at the bottom here. And that is our bread and butter. We run a number of chain technologies and protocols, we run a number of chain configurations and of course we have first class support for hyperledger projects like Basu and Fabric as protocol choices, but even more broadly than that, we run connectivity to permissionless chains, we run other technologies alongside the chain itself to give you a click button simple way of running chain infrastructure. Sitting on top of that really significantly as the off-chain stack where we find lots of projects spend most of their budget, time, energy, focus, trying to connect to a blockchain reliably, trying to get transactions on, trying to get events, streams off and into updating their applications, keeping them in sync with the lifecycle of digital assets, tokenizing things, doing all the wonderful things that you want to do at the application level to provide the users a good experience. So clearly there's a need for a really robust middleware layer and of course identity and key management, wallets, all of the web three sort of stack needs to be integrated into that. And you need a strong amount of connectivity into your existing systems because quite commonly enterprise applications need to hybrid connectivity both to the new world and blockchains, but also to existing systems and workflows across the seas. And so Hyperledger Firefly is a really awesome project that can accelerate digital assets initiatives. And as Clido, we run and contribute to the Firefly project, we also run that as a service and we've embedded that into our Clido asset platform that complements Firefly with additional tools, the services, DevOps integration, smart contract management and many other capabilities that you need for digital assets. Bob will show you a bit of this in action, but that's a quick flyover of Clido, the kind of who we are, our DNA from a technology perspective. Okay, so now just taking a step back and talking more broadly about the space. I always like to try to keep things in perspective because so much is going on and we're moving so quickly. It's nice to try to stop every now and then and say, okay, what's moving faster? What's not moving as fast? What's new? What's changed? And this is my sort of personal take of some of the things that have happened over the last year. We've seen sort of regulator liability networks, both as specific projects, but also as kind of a pattern for how enterprise networks could evolve, especially in the financial services space, gain a lot of interest. And there are variations of this pattern as well that there are different initiatives around the world that are borrowing, extending this pattern and changing it. Real-world asset tokenization probably is the number one thing that we've seen at Clido that has accelerated even maybe over the last 18 months in the enterprise space, tokenizing deposits, financial instruments, things like bonds, tangible things like land, property, et cetera, tokenizing different kinds of funds, private market assets, getting liquidity and access into those. Just really, really huge use cases touching major sectors of the global economy, tokenizing those on a blockchain. This is just really, really accelerated, I would say almost every discussion that we have within the financial services space is has an RWA component to it or is squarely about RWA's itself. Some things maybe that are still progressing in certain areas of the world are just not, but maybe not as much of interest in others, things like a custody of crypto itself. Of course, there's interleaking there with regulatory legislation, et cetera, customer appetites as well factor in. But over here on the left, CDBCs, who really are seeing acceleration there, if you're not familiar as familiar with that space, Google the Atlantic Council and their central bank cryptocurrency tracker, you can see virtually nearly every economy over 120 central banks, that they are doing something with central bank digital currencies. And I'll talk more about that. And then identity is a space that I think is coming of age. The specs are out there and they're really sort of marinating now. And interop is another area I'm gonna zoom into because that comes up in almost every conversation that we have. So if that's the landscape, a lot of our customers are really mapping out a more comprehensive digital asset strategy. So the sort of conversations that we're having around digital assets feel a lot more strategic now than they did a couple of years ago. And I think a lot of companies have been experimenting for some time and have a number of learnings that they're bringing into the current generation of projects. Indeed, we're seeing this sort of generation over generation sort of shift both in the mindset of sort of the leadership team and also in the technology and infrastructure underneath that. But a digital asset strategy needs to be comprehensive that unfortunately can't just be purely a tech thing, which I would love it to be the case and probably many of the zoom would indeed as well are listening, but the reality is that this digital assets are just by their very nature something that spans across customers, risk, compliance, regulatory and so forth. And so at the end of the day, you need a comprehensive strategy. I think probably some of the main topics that we're seeing people really focus zoom in on, but also struggle a bit with because they're hard problems. Scalability and interop I think are at the top of the list. If I had to pick a third, I would say privacy as well as areas with lots of focus. From many of the companies that we're working with in the financial services space, we see many companies have now scaled up a digital assets team. Either there's like a center of excellence or some similar kind of model that's a little more cross functional or even now a number of teams have actually explicitly carved out a digital asset organization. And the largest team I'm aware of is over 500. There are multiple teams that are over 100, but maybe more typical, 56 to 60 people. So significant investments that businesses are making in the space. And a long backline log of use cases. And a lot of focus on a small number of use cases. So most of the team focusing on a small number of use cases. But like I was saying a minute ago with a lens on not just doing that use case but really building a scalable architecture and strategy underneath that that can accelerate to get into more and more use cases over time. So I wanna talk about some of our learnings about the strategic sort of thoughts of the technology and the infrastructure. At a high level, I feel like we're kind of coming into what categorize as a third wave in the digital asset space. Wave one, crypto in the beginning, Bitcoin, digital gold really focused in the sort of the technology and infrastructure those initial L one chains, exchanges for crypto exchanges, personal custody wallets, et cetera. In wave two, we brought in the aperture and they started to see things like layer twos and scaling chains and started to see more use cases. DeFi came out of that stable coins. Which today, if you look at the market cap of stable coins it's over $100 billion in aggregate. So very big space but now we're moving into wave three and it's order of magnitude bigger. So just think about how big this space is for real world assets, for more broadly digital assets, for the future of money in central bank digital currencies and other forms that are even bigger portions of the money supply like tokenized deposits. The sort of infrastructure then that is really evolving quite rapidly to support and enable this third wave, we're really moving into an era of platforms and at Kaleido we feel like our customers themselves are the ones building the platforms. So as Kaleido, we align with that by not building a platform but really building technology enabling infrastructure to enable others to build platforms but we really see this as an era of platforms and an era where there's many chains out there. Not just one chain to rule them out, all but many chains. So interoperability, gateways, connectivity across those chains are really paramount to make sure that we don't replicate the world of silos that we have yesterday into tomorrow, just creating different kinds of silos. We really, you know, interop needs to be such a critical part of your strategy and really how the space evolves overall. We believe then also bringing in new forms of identity and new use cases around identity will propel the entire space closer to what some people think of in their mind when you hear the term kind of web three. I could spend the rest of the talk defining web three but instead I'll just leave it there and move on into digital assets. So here I have a diagram that I borrowed courtesy of a white paper out there from the Bank of Indonesia but I'm just gonna use it as an indicative kind of, I wanna look at it more in a generic sense than in a specific sense. And this is showing how, you know, users and banks could interact with CDBCs, both retail and wholesale but you see sort of a meta architecture laid out here in the diagram. And there's what we see, what we kind of talk about as a three tier digital asset architecture. And this is common really regardless of the project where, you know, there's a core DLT layer and there's more in the DLT layer than just the ledger of the blockchain itself. We'll get into that some more but fundamentally you have your system, you're sort of the on-chain system of record that needs to be available, it needs to be scalable, it needs to be easily connected to and interacted with wherever it's needed. And then you have this pretty fat sort of middleware layer of the stack where we see, you know, many components from starting with key management infrastructure, you know, all the way up the stack to, you know, simple and easy to use APIs that the third layer, the application layer can readily be built on top of. The application layer at the end of the day is where the business value is, right? And so there's quite, there's sort of an anti-pattern or a danger of working right to left through your projects and just never getting over to the left where you're creating business value and you're solving real world problems. And in the application layer, you have users and you have other legacy systems and systems to integrate with. And so let's make a couple of observations at each layer. So this three layer architecture. For the DLT, you know, I think especially in the enterprise based one of the classic kind of questions is how centralized do you want to be? We often say that decentralization is a journey, right? It's not a black and white whether it's centralized or decentralized. There are, it's much more nuanced than that. There are many different ways to decentralize and when you zoom in even at this layer there are many different components or pieces that could be decentralized. You could decentralize the technology, ownership, governance, physical location, voting power, right? When it comes to, for example, accepting transactions or mining plots. And so you could open up, you know you should, the ability to deploy smart contracts, right? So put that maybe under the governance bucket, the ability to connect, you know there's just many, many facets of centralization and decentralization. You have to start somewhere of course and move from there. You know, the privacy model is really key for enterprise use cases. Things like the scalability of the chain of course has to be able to meet the demands of the real world usage and the use case there. So, you know, I think there's a fair amount of innovation when it comes to scalability but there's also a fairly long roadmap of where we are going in that space. So those are some of the higher level issues. You know, there are, of course there are different kinds of ledgers out there and, you know, they offer a set of trade-offs, you know, one from the other that you can say they're, you know they just work differently and therefore you should be aware of what the choices are as you're selecting a ledger but what the trade-offs you're making as you're doing that. You know, at a high level, you know they're sort of the EVM world so the Ethereum base, right, base technology and then there are others and probably sort of the number one model in the others camp is, you know some style of a confidential UTXO type of pattern so things like, you know R3's Corda and Digital Access Stamble work this way and, you know, of course, Hyperlegic Fabric which has, you know, a bit of support for both but also kind of its own model is another choice there, you know with this channel's model for example. You know, the topology, you know we're seeing quite an evolution here, you know in approaches, we've seen projects where, you know you try to go too decentralized right out of the gate we've seen those projects just move slowly, right because there's like a hundred things to figure out from physical networking to physical compute and backups and upgrades and stuff like that. You know, there are as a service models that are another choice on the other end of the spectrum and some of the most more advanced things that we're seeing now and this scenario that pilot leads as well is some hybrid mix of both excuse me, so, you know thinking about the topology, you know what's good enough for the stage of the project for pilot and then as things move into production what does that look like, you know and how do you simplify and accelerate if you do want to really decentralized and you have 50 companies that are going to run those you know, what is a practical way to enable that to accelerate as quieter we have a number of projects that are that shape now so are there tools and you know tested certified images of these well let's say Hydroledger Basu for example and what are sort of the DevOps tools and the APIs instead of documentation to you know, take that and make it just in order to make it easier for companies to stand it up and manage it you know, their ops team to manage it I'll shoot over to the right hand side of the slide here talk about privacy for a minute you know and the privacy model really is tied to which DLT you know, technology that you select you know, some of these technologies have a privacy specific privacy model that's very hard coded or sort of like natively part of the the technology itself, the ledger you know, for example, the UTXO model you know, technologies provide you know, a certain amount of privacy just through their native design something like an EVM is maybe more generic, there's you know, a blockchain there's general purpose smart contracts and you know, things like tokens there are a set of benefits for having stayed on chain but that also brings a set of considerations for privacy and there, you know, in that space we see, you know, variety of approaches being innovated on, pioneered you could layer, for example, on a UTX confidential UTXO style pattern on top of the EVM there's no reason that that can't be done I was worked with a number of customers in that space also, you know, things like zero knowledge for privacy you know, is another area that's very promising and there's a lot of interest whether that's shielded tokens or ZKZK fully homomorphic, etc probably a whole, you know, talk to go down that rabbit hole but just be aware that there are a sort of a set of options out there and depending on, you know, your the requirements of your project that may be something that you want to look into earlier on in the project or at least at the appropriate stage so that you're making educated decisions there so another thing that we're seeing in the DLT layer is this sort of evolution towards purpose built chains you know, as an example, some of the CDC projects that we're working on have you know, sort of progressed from white papers to POCs to pilots now into like industry wide pilots we're seeing them in a number of places around the world and we're also seeing more sophistication at the chain layer say, hey, let's look at a model where that there are chains that are purpose built for the particular asset that's on the chain so if we had just a wholesale CDC cash network on over here and then if we have you know, a different asset network over there what does DVP delivery versus payment look like? Well, you know, the payment happens on the cash network from party A to party B and the delivery happens on the asset network from, you know, the other party back to and so you can see how instrumental interop is, you know, in this sort of a DLT network design similarly, another example on the right is wrap CDCs and retail, sorry, wholesale CDCs and retail CDCs as another example, you know, we're also seeing a trend where projects, enterprises are, you know, looking at what's happened in the permissionless space with, for example, Ethereum and how there are, you know, layer one, layer two, you know, layer threes are out there. People are talking about them. And again, this is just another way to specialize the behavior of the chain itself for more scalability, perhaps for more, you know, security or, you know, it may be a part of sort of the design of the network itself, like a splitting up of governance or roles and responsibilities. And so this is very possible, right? You know, these technologies, many of them are out in the open. So you could design a network where, you know, there's sort of a layer one network, for example, where, you know, large pools of value are. And then there are bespoke networks that are attached to that network and sort of a layer two, layer one style pattern. We'll provide these slides for folks, by the way, who are interested in them, but I'm just for the sake of time, I'm going to speed up a little bit and move into the middleware layer. Again, this is where we see quite commonly, you know, a large percentage of the time, effort, budget on enterprise projects are spent. Some of the high level, you know, top line problems to solve in this layer, things like transaction management, event bus, you know, you end up building these very event driven architectures, right? Because something's happening on the chain over here, something's happening in the real world over there, something's happening in legacy existing systems over here. All of that needs to be orchestrated, right? And kept in sync. And so all the things that we've learned over the last 20 plus years in enterprise IT around event driven architectures really needs to be brought to bear in the blockchain space. There are, and there are, you can see some several other topics from API management and data management to custody and interop. And so, you know, transaction management on top left, Bob is going to show you in a few minutes our approach to orchestrating transactions. And that's going to be done through the Firefly engine. But, you know, getting transactions onto a blockchain isn't necessarily the most trivial thing when you zoom into it, depending on the chain, right? But maybe it's a public chain that has gas, right? And maybe it's a style of chain where finality is an instant. And so, you know, you need a brain that can solve those kinds of problems for an EVM, you know, transactions just don't go right away on chain. They sit in a pending transaction call, right? They're proposed in blocks, they're eventually mined. So there's a whole life cycle of the transaction. And that's going to be true for various kind of technologies. So what is the orchestration engine, you know, that you need at the heart of this, you know, at the end of the day, remember, let's say, for a digital asset project, if you mint, you know, 100,000 digital assets, you want exactly 100,000 of those on chain, right? And so, you know, error handling management, nonce management, retries, you know, all of that sort of fits into the beating heart of your digital asset architecture, which is this transaction management layer. Key management is a well-covered, you know, area because it evolved really from wave one onward, you know, beginning with Bitcoin, you need to, you know, whoever holds the keys holds the crypto. So wallets, you know, are well understood, sort of in our space, but they're evolving. They're still critical. There are different technologies to choose from. There are different patterns of whether it's a custodial, you know, pattern where you're managing the keys on behalf of the users or whether it's a self custody, you know, you can do fancy things like split the key up into parts and use MPC, so-called MPC wallets. You can use traditional technologies like hardware security models, HSMs to store the keys that, you know, your enterprise is familiar with. There's a lot there, right? And as we move towards identity with the open wallet foundation, the sister organization, the hyperledger, you know, thinking about verifiable credentials, you know, there's actually the wallets doing a lot more when you look at DIDs, digital identity, et cetera. And so, you know, a sort of a multi-purpose wallet, I think, is where that space sort of evolved towards. I want to spend a minute, though, on data management and talk about how important that is for digital assets. Remember, your asset goes through a lifetime. Once you issue it or mint it on chain, you know, it exists in the on-chain world, but especially for RWAs, those assets have arbitrarily complex, you know, life cycles. It could be a bond that lasts for years. It could be, you know, a mortgage or an ownership deed or, you know, an index bond. And, you know, it could be any variety of things. And, you know, that asset could be fractionalized. The ownership could change. There could be complex governance around any state transition. Really think about it like a state machine, you know, as that asset moves through its life cycle and certain things happen on chain, but almost always in the enterprise space, a lot of what that asset is, is off-chain data, right? It can't go on the blockchain for various reasons. So what the asset is, you know, that holistic view really needs to set off-chain on your digital asset platform and it needs to combine together off-chain and on-chain data. And the state machine then needs to stay in sync absolutely with what's on chain. So you need really reliable middleware to do that. And very good indexing, right? Because we call this indexing in space. Because ultimately what you're going to need to do is build intelligence layers and analytics, AI on top of that data layer that's part of the middleware. OK, and then there's real-time integration technologies as well on the right. Here's a view of Firefly, if you haven't seen that, really encourage you to take a closer look at that. We at Collido are always happy to talk more with anyone about Firefly. Find that in the Discord community, ping us at Collido. And here's a view of sort of the logical architecture view. The colorful boxes are kind of like the API pillars. You know, there's an application sort of pillar where you can feed in smart contracts and auto-generate APIs. There's a flow API that helps with these common off-chain on-chain sort of patterns that helps simplify orchestration. And then there's a digital asset API to say, hey, I'm interested in this token. Please, I want to subscribe to that. And event us, please just give me any state or anything that happens with this asset. So another trend that we're seeing just moving on in the middleware layer is the idea of a more strategic enterprise architecture. So looking at Web 3 like a very broad space, some of the companies we're talking to saying, hey, we're realizing at the end of the day, there's going to be all these cash networks, all these asset networks. We're going to need a way to connect to dozens of chains. So what does that mean from an infrastructure perspective? How can I scale in that way, my connectivity? And that's sort of on the right hand of the box here, you know, a stack of Web 3 infrastructure to connect to really wherever you need to connect to. And then the left-hand side of sort of this this more holistic enterprise architecture. That middleware application, those Tier 2, Tier 3s, you know, really what it starts to look like is you sort of put all the pieces together is this sophisticated platform in your back office. And, you know, we have a term for that is a system of record. You know, it's a really a brain, you know, that knows all the state and the heart sort of that provides that, you know, the orchestration layer, that real-time flow of data in all directions. All of those capabilities kind of coming together in a cohesive platform. So we have a couple of use case kind of project examples, which I'll mention just very briefly and I'm happy to talk more about these, but I don't want to turn it over to Bob. You know, a swift has gone is running, perhaps the biggest central bank digital currency project in the world. That phase one was done last year. Phase two is running as announced and it's actually running right now. There are dozens of large commercial banks and in tens of central banks all participating in this one large project. There are many cash networks running for different jurisdictions, CBBCs. There are asset networks that are running, there's interop running across those. There are multiple protocols that are running is quite a sophisticated project. And Clado is helping to drive that as the technology partner. There is a white paper that is actually linked into this that you can read about phase one. We're happy to tell you any more detail on that as well as information becomes available. One final CBBC project is in Australia. This project ran throughout the year and it's now completed successfully. Again, I talked about the evolution of central bank digital currency projects more towards industry-wide pilots. And this was the case for this one where many different use cases were run across the industry. Many groups built different use cases and are testing many things and it really accelerates the innovation. Another similar project like this is going on right now in Brazil. A lot of people are watching this. By the way, these projects ran on Hyperledger Basu. The SWIFT project is running Hyperledger Basu, Hyperledger Fabric and Corda all together and all those various networks that are running. Okay, so I just need to pause here for time. Hopefully all of this was good context. We'll circle back to a few questions at the end, but let me turn it over to Bob to do a short demo. There's Steve. I want to do that. There are a couple of questions that in the chat. I don't know if you want to address any of those. Or if I should just go ahead. Why don't you go ahead and then we'll use all the time we've got for a discussion at the end. All right, so I'll keep this quick then. Steve highlighted some architectural diagrams. This is the piece that sits ultimately on top of the stack here. This is the Kaleido Asset Platform. And it is heavily built upon Hyperledger Technologies, most notably Hyperledger Firefly. I'm going to take you on a quick tour of some of those components that are in the stack and then also show you how quickly you can define a multi-node Basu network, for example. So I have an environment here that I provisioned in advance. It consists of both networks and services within or that talk to those networks. On the network side, I've defined a Hyperledger Basu network, in this case, with a single node for a test environment. I also have an IPFS node that I'm using for off-chain data running in the background. If I look at the broader set of services that I've pulled together to create this solution stack, we see that on the Kaleido Asset Platform, we have a bunch of components that are designed to accelerate your progress towards having a live tokenization platform. So I'll start up here in the top left-hand corner. I've defined a contract manager. The contract manager is a tool that allows you to manage the build and deployment as well as restful API generation for token smart contracts. If I click into here, I can see that I've built a number of token smart contracts already and have deployed them. I can come in and I can create new builds here. The Kaleido Asset Platform provides a wide variety of means for getting that contract into the environment. You can use one of the generation tools that we have for common ERC types such as ERC 20, ERC 721, 1155, where you can specify what characteristics you want and the builder will dynamically call those out for you or add them into the code here. You can import them from your GitHub repository. So if you have custom solidity code that you've written, you can point to a GitHub repository public or private and bring that in. And you also can point to files on the file system or if you have a compiled contract either off chain, you can upload the ABI invite code or if it's on chain, you can actually point to the deployed address of that chain or that contract on the Bessu chain that you've created and then load the ABI and then talk to be able to teach the Kaleido Asset Platform about that deployed contract. I'm not going to go ahead to the build process there just because I don't want to save some time and show you some of the other services. If we go back to the services view, again, we have a next set of services which is key management services, Kaleido Asset Platform provides a wide variety of wallet types that we support in terms of managing keys. Pre-provisioned here for this demonstration, I've created some hierarchical deterministic wallets. These are hosted on the platform itself and these are a special type of wallet that has a single seed phrase that can be used to regenerate the keys for 2.4 billion addresses. So these are very easy and flexible wallets to use. If I click on add wallet, we also see the breadth of additional support for ways in which you can securely store and manage keys ranging from on the top left here, that HD wallet all the way down to the most complex which is your own PKCS11 compatible hardware security module where we have an HSM agent and everything in between. So using the common key management services from both AWS and Azure as cloud services, using Fireblocks to send in pre-signed transactions so that your keys don't have to be shared with Kaleido or you can also have your own HashiCorp Vault as your signing mechanism. And the configuration for these items is very simple and straightforward. So for example, I look at, I wanna connect to an Azure Key Vault. It's very straightforward. I just need to provide my URL, the Key Vault name and a few parameters that are provided by my Azure administrator. And then I'm able to connect to and use keys stored within an Azure Key Vault. If we go back then to the services, I'm gonna come back to Firefly in a minute. I wanna talk about the supporting services. Down here I have a Vesu node. So I'm gonna actually click over here into networks. And a network is just the overall construct for combining the nodes together. And there are parameters you can set when you create this. The simplest one, the default is defining the chain ID. If I wanna add a new network, I have much more capabilities in there. So I can call this new Vesu network. And I can go into advanced properties and I can actually point to an external Genesis file so that when I deploy the nodes, I can provide my own genesis.json that will then be used to bootstrap the nodes for me. I'm not gonna go ahead and create, I just wanted to show you some of the power there. So I have this Vesu network already created. And I can look at the nodes, I can also add nodes. So I know for example, when I created this that I am using QBFT as my consensus algorithm. So I know that I need to have at least four user nodes in order to have fault tolerance. So I can come in here and I can create node number two. I can either turn off the advanced or you see here I have additional characteristics I can determine whether or not it's a signer, logging levels, synchronization modes, a whole bunch of other items. Or I can also here upload my Genesis file if I chose to have a custom Genesis file for this network, I didn't. So I'm gonna just turn that off. I'm gonna select my network construct and then I can determine is this node going to accept RPC requests or not? So it's that simple to create a Hyperledger Vesu network at a node added into a network. It's gonna go off in provision. It takes a couple of minutes to actually bootstrap the node. And when that's done, I will be able to actually talk to that node. Going back up to the services layer. There are a bunch of other services that we can talk about maybe and if you're interested, reach out to us and we can arrange a more detailed demonstration. I'll highlight them very quickly here, but then I wanna dive into the brains of the system which is the Hyperledger Firefly Instance. So we provide things like an NFT manager which is an accelerator for managing ERC721s using JSONata as a templating language. You can very easily and rapidly create NFTs at scale whether they're classical NFTs for like a loyalty program using images and awards and things like that or whether they're an NFT that is used to represent a tokenized asset of some form. We also have an asset service that's available so that you can define policies around it about who's able to transfer, who's able to hold how much of a particular asset. So there's a robust policy engine there that's available for that. Private data management is around managing data in a multi-parted system in terms of off-chain data that you wanna also have synchronized or hash pinned on-chain. So you can define a service to store that binary data in a private data manager service. We also provide a block indexer capability which allows you to expose your Bessu network out as a quote-unquote public view where people can either log in and view or have open access to view the transactions that are happening on your Bessu network. But I wanna save some time for questions so I'm gonna dive just last year into the brains of the stack which is the Hyperledger Firefly instance. This is where all of those things are pulled together. Sorry, I'm getting out of time out here on my browser here. And this is gonna pull together the connectivity to the Bessu network. It's also the brains that have been taught about a particular token smart contract and allow me to interact with that smart contract is also the dashboard that allows me to view what's going on in the system. I think we only have five minutes left, Steve. So you wanna pivot over to questions and next steps? Yeah, a lot of good questions in the chat here. Trying to type as fast as I can by prior talk faster than I can type. So I think the first one that came in was from Jason who's asking about do you think that a physical asset tokenization should focus on public blockchain or a consortium blockchain? What would regulation look like? So I think as Kaleido, we are unopinionated, right? We think that there will be versions that are fundamentally permissioned. We think that public chains will continue to exist too. And we think there will be hybrid sort of models experimented so-called public permissioned chains. Which some projects are looking at. So I don't know that there is anyone right answer as with everything, there are trade-offs. You know, just point out a couple obvious ones. If you use a public chain, then you will incur gas fees. Many of those, most public chains have variable gas fees sort of like if you're catching an Uber and there's like search fees for when things are busy, similar kind of construct. Not every chain works that way, but many do. So you have to account for that in the business model of your use case and see if that's acceptable. Obviously privacy concerns around what data is on chain? Where is it sitting? Who can access it? Those sorts of very basic questions are often asked. What we see right now in the enterprise space is most projects are starting with a permission network and some have an aspiration to go public. Some are saying, well, let's see what happens. And some are saying that we're quite comfortable with the design that we're starting with. Where this all ultimately ends up, I would say it's probably not fully written yet, right? So let's just sort of see where it goes, but likely your project is starting with a permission chain or a more private version of an app chain, something like an avalanche subnet who's where a partner for or polygons now called chain development kit, see that these emerging category of app chains intend to be hybrid sort of options. And that's something you could look at as well. Bob, did you have any question you wanted to pick up next? Otherwise I'm happy to grab another one. Yeah, sorry to jump in. Thank you for this great presentation. We have time for one last question, but then unfortunately we will have to wrap up. And I would encourage people that have their question on the answer to reach out to Kaleido team or reach out to us and we will connect you with the Kaleido team. Yeah, very, very sorry guys that we've coming up against time here. Please do connect with us, find us on LinkedIn or wherever. Just final one, maybe I see a question around the status of the ERC 1400s sort of token contracts. So the 1400s are a class of digital asset contracts that are bigger bulkier than say the 20 or 721s that have become quasi-standard but are very vanilla and basic in what they do. So there are a number of 1400s put forward by different companies or organizations. Many of them really are just the sort of the schema rather than fully open source. So I flagged that as one sort of constraint or limitation. We do believe that tokens really should be standardized. We think that's safe, that's smart, that's where the space is gonna go. It's gonna be necessary for interoperability. So there's some that are sort of open core. There is one that is fully open source but it's not being that actively developed by consensus. So we think that these tokens are solving critical needs but maybe there's not quite one yet where I would feel comfortable saying, hey, go look at this one, this one's sort of the best but there's something as collided that we talk with our customers about and is a space where there is active engineering going on. Thank you very much, Steve and apologies everybody as well to our panelists but we do need to wrap up. I see that there were so many questions and it was a great presentation. So thank you so much for that. So Kevin popped in the contact from the Collido team here in the chat and we will include it in our webinar library as well. So you are welcome to continue conversation with the Collido team later on. So first of all, thank you so much, Steve and Bob for this great presentation and thank you everybody for joining and for all of your great questions. Now, before we wrap up, let me just invite you to our further webinars that we still have one webinar to go this year in its validation cloud and I'll return that in a second. You're able to find and register for the following webinars on our event page as well as for the technical workshops and for the in-person events as well. The last webinar coming up next week will be with the validation clouds about the performance node, how performance node infrastructure can drive enterprise blockchain adoption with a particular focus on hyperledger based on. Another thing I would like to mention is that over the last years we have been doing a lot of research on different topics and published a number of eBooks. We just very recently published a supply chain and trade finance eBook created by supply chain and trade finance special interest group, the part of our community. We released an updated CBDC eBook and you're welcome to scan this QR code or just follow this link on the slide to get more information about the research. Please join our Discord as well. There's a lot of real time interaction going on there. You can get more information about the project, special interest groups, working groups and much more as well. Now finally for the corporate members that are working with hyperledger technology, we invite you to contact us and find out more about membership and how we can help you there. Oh, thank you everybody for watching. Thank you again to our panelists, Steve and Bob for this great presentation and Kevin for organizing this. And thank you everybody for joining us and watching. We hope to see you again soon and have a nice day. Everyone, goodbye.