 Hello everyone, I hope you are all having a fantastic day like my name is Anna and Abelene and I'm very Because this is the first day of talks in the tropical Sunset And today we have the talk of Ethereum business witness in 2022 with Dan Shah and Dan Burnett Thank you so much. Thank you All the Dan's Ethereum enterprise how you have to be called Dan So hi, I'm Dan Shah from the Ethereum Foundation You know, I work with the enterprise big businesses back in 2017 at the launch of the Ethereum the enterprise Ethereum Alliance the EA you know Vitalik called for collaboration amongst private and you know public You know to be able to support enterprise needs and You know, I I joined back in In 2020 to come in and support those enterprise users You know when I came in There were some you know sort of big blockers for you know going on on mainnet you know concerns around privacy gas prices and You know regulatory regulatory risks of holding assets Over the past year and a half I've been really happy to see a massive sea change away from only Private chain and you know gradual introduction of Real real mainnet adoption, but I really didn't know you know what was going on and really happy to share what Dan Burnett and the EA have been working on You know to really you know give us some proof give us some data and Been really surprised at At the maturity of what's going on You know things are farther Ahead and farther on mainnet than you might think so Dan Burnett Hello, there we go. All right. Okay. Thanks And I may ask you to put the notes font size back to what we had agreed to All right. Thanks. Yeah. All right. So anyway, what I'm here to talk to you about today is a report that the EA wrote Issued earlier this year our Ethereum business readiness report so You know in the media all the stories are focused on you know popular media, right? All focused on crypto speculation NFT speculation Big collapses and things like that, but as the Ethereum ecosystem matures more and more businesses are actually adopting the technology Unfortunately, that story is not as visible to the general public. Okay, and it's as As an organization that is committed to enabling Other organizations to adopt and use business Ethereum in their day-to-day business operations We thought it was important to shed light on what's actually happening in business use of Ethereum today So behind the DeFi NFT and so on headlines now There are some challenges to this in particular day-to-day projects are all happening behind the scenes Okay, many of us know about them are those who are sort of crypto savvy But those outside of this room outside of the the crypto bubble are definitely not aware of them So our our goal was to Find them and quantify them and that's that's what we set out to do So we did a mix of direct interviews case study development Surveys and also the other Important part with this particular report was to be able to educate business decision makers about how to think about a theorem-based deployments So the work that we did is based on both quantitative and qualitative research We did the quantitative research while I'll talk about that a little bit more later But the point is that we focus primarily on the qualitative our goal was to was to do storytelling Based on case studies and interviews and when I say storytelling, I mean stories that make sense to businesses One of the reasons we focus so much on case studies Is you know, everyone in this ecosystem likes to ask well, what are the use cases? What are the use cases? What are the use cases use cases are for sellers case studies are for buyers Buyers don't want to hear what you could do Buyers want to hear what works today. So that was one of the the important goals that drove what we did So just very quickly I'm gonna I'm gonna walk through this part. This is something that's in the report We from a business perspective We describe kind of the the history of the aetherium platform as having three main phases in the early days Of course, there's a lot of excitement experimentation with you know Decentralize all the things and there's a lot of great experimentation that's still happening, of course But there was a realization pretty early on that there were some limitations from a business Perspective in using the public main net and in particular the three that we always talked about the three P's were privacy Permissioning and performance. Those were things that the the broader Public community was not interested in focusing on at the time, but but for businesses are just absolutely essential Okay, and that actually led to a focus on private blockchains Private consortium networks using aetherium or or other other technologies now as we all know There has been a great revival of interest in public blockchain And this is actually from a business perspective also that's driven by of course what we've seen with consumer DeFi Which is demonstrated that decentralized business models can work Also NFTs, but also some technological improvements, and I'll I'll talk about that a little bit more later on So before I Before I talk about what's on this slide I want to mention that from this point on Everything that I describe is being viewed through a business lens Okay, so when I when I show circles of certain sizes and so on this is based on our particular data set What we did is we we collected a data set that was restricted to down to about a hundred and eighteen Business-oriented aetherium projects. These are projects These are companies or projects that are active now have live teams and are developing solutions for traditional business problems So the data set is somewhat small and eclectic and keep that in mind when I when I draw some conclusions like I do on this particular slide Yes, please reduce the font size back down one or two. Thank you on the notes Okay Stop there Thanks, so Okay, so on the left side here what we have is the business projects organized by industry and The lion's share of course has been an infrastructure and fintech unsurprisingly We're basically still in in the stage of building the platform and selling picks and shovels Okay, I mean that is really where the industry is particularly from a business perspective Now if you look at use cases on the right side most of the activity is in software development and fintech Which of course aligns with what I just said and so again, it's still early stages. There's a lot of need for building core Materials yet, so I just wanted to throw this up some people like looking at logos This is a subset of the companies and projects that are in our database I'm not going to talk about it. This isn't exhaustive But just to give you an idea of some of the the companies and projects that showed up in that list of 118 Now one of the things we wanted to do was well look if we're gonna if we're gonna put out a report on Business readiness of a theorem we have to define what business readiness means Okay, so that was our first goal was to figure that out and through the interviews that we did We came up with a way to define it that we believe is is useful for business so our goal keep in mind with this report is to Always to do two things and education is one of those parts So we wanted to make sure to educate people and we also wanted to give businesses a tool as they evaluate Aetherium technology and deployment possibilities So we developed what we call our aetherium business readiness framework And we think this is the first attempt That we're aware of to do this in a in a neutral way Okay, so we're not selling anything in particular other than aetherium of course right So what we ended up with is seven technical criteria, which you'll see in the the coming slides and three non technical criteria with some detailed definitions again whose whose goal is to educate a business audience and Through this we believe that businesses can learn a lot about what is important and what to think about as they as they're considering deployments Okay, so down the left side here, and I know this is an eye chart. I don't expect you to read it I'm just gonna describe some of what's on here. So down the left side are seven plus three criteria They are quickly network cost network decentralization and security scaling privacy sustainability usability interoperability and then regulation and compliance ecosystem resources and ecosystem robustness and From our perspective and all the interviews we did those captured the factors that businesses cared about We it was particularly important to us to make sure that we included decentralization Because a lot of businesses today just still don't even understand why that is something they should care about Okay So anyway, if you look at all these criteria on the left not all businesses are going to care equally about those criteria So the goal of this particular chart of this particular Item this section of the report was to answer the question. Which of these criteria are actually important to me? So what we looked at was four different types of businesses as we call them large corporates small and medium enterprises startups And then there's government which is not a business, but they're they're a category worth considering in in this discussion so There are two things I want to highlight so on the sustainability side and I again I know you can't see all of these but I just want to talk about a couple of them So almost all businesses care about the environment But governments and highly visible corporates care a lot because they can face very high and costly reputational risk Okay, if they if they screw up sustainability nowadays on the security side All companies of course want the best security But corporates and governments Interestingly, they have a lot of resources to ensure security whether it's financial resources legal technical whatever and so in some cases And I know this is sacrilege to say it okay, but in some cases. They're willing to centralize to sacrifice some decentralization in Return for scaling But that's not true for smaller businesses in particular one of the main appeals of blockchain technology is precisely the security against Technical failure attack manipulation and so on that network decentralization Offers so they may be less willing to compromise in that particular respect now We did this because we wanted to show this before we got to Describing different architectures and where we think they fall okay so what we did then was we We basically evaluated those criteria against four different deployment architectures You'll see we call it a network archetype in the report What we're talking about is basic deployment architectures the four categories you have five columns But there are four primary ones is the public main net main net plus an L2 main net plus a sidechain and private network The second column is main net post upgrades Because we put this report out of course before The merge and there's a lot of other great stuff coming and we wanted to make sure that people didn't look at the lighter The lighter Boxes here which don't look so good for the public main net and say oh, yeah, that's always going to be the case No, it's definitely not and as we do this report each year We're going to continue updating it in terms of where where we're actually at so a few examples here from a network cost perspective The cost to actually operate a private network can be very low Even when you're running your own infrastructure that the actual operations cost can be quite low And we know the main net is expensive today Okay, and that's being worked on we know in terms of ease of use by businesses and Layer twos or side chains actually have the most support interestingly Because the ones who are building those layer twos or side chains Provide a lot of information and a lot of help on how to make use of them If you do a private chain on the other hand, it's all on you right So it's not easy at all if you want to do a private chain You have to do a lot of the work yourself from a compliance perspective a private network It's the easiest to implement, you know controls such as KYC And on you know the main net is of course fully decentralized on the other on the other end So most of this shouldn't surprise you too much, but again, this is written for Chances are it's written for your customers the people you're trying to sell to and who need someone to explain this to them In a way that they can understand That did not do okay. Alright, so one of the things we did was we want to give examples of how you might use this Framework for a specific use case and again, I know it's an eye chart. You can't see all these it's all in the report but We basically analyze these criteria against The deployment architectures that that I talked about so for each of these architectures We scored the criteria is very poor poor neutral good and very good where good is out here and Poor is in the center on these radar graphs So I'm just gonna hit a couple of headlights So the upper left one is asset tokenization and then payments payment solutions is just to the right of that So for asset tokenization main net scores very high on usability and interoperability for tokenization But you know if you have a project for which high performance and regulatory compliance or priorities You'll want to be working with an L2 or a side chain or or you could consider building a private network on the payments side For payments use case a theorem is a payments network essentially out of the box I mean You know finding information about how to do how to do payments with a theorem or something built on top of a theorem is not at all Hard, but again if you have high volume, you're gonna want to work with a layer 2 or side chain particularly if you have if you're if you're addressing retail customers now Interestingly, if you actually have a wholesale business, you might not need to go to that and you could actually do a private network More simply today more simply more cheaply if you have a wholesale business Okay, I said that we did interviews We actually have way more than six interviews, but I just wanted to give a few examples of some of the people that we spoke with We spoke with people who actually were building these projects We also spoke with some well-known people in the space and probably some of the people here in the room And I just haven't seen them yet But I just want to give you an idea this within the report We actually include quotes Throughout because we found that the quotes from these people are the thing that are the they expressed this better than any of us could Because they're dealing with it every every single day. So I've got I've got three examples here and the one that I'm gonna I'm gonna actually call out is is in the middle from Benson of Acre Africa Acre Africa provides Parametric insurance for small holding farmers in Africa So what they said is we could have done this on our own with a database But we wanted public proof that those triggers that the customers signed up for when buying are Still the same ones used when it comes time to pay out That is a great example of the transparency that you get from a good blockchain solution. So anyway, this is just a few We have a lot more But these interviews really helped us with the insights, which is what I'm going to get to shortly So we took that 118 projects and whittled it down to 12 for a super deep dive Okay, so we were looking at doing case studies on on 12 of them Nine of the projects were ready for us to include them in the report and three said we want to be there But not yet talk to us next year Okay, so we ended up with nine that are in the report. I don't have time to go through them I wish I did two shorter presentation today But please do read it in the report because there's a lot of great insights For each one of these we did a detailed case study and also put the key takeaways for a business audience again Okay So after all of that we tried to distill everything that we had heard into some some insight So if you're gonna take pictures of anything, it's probably this slide and the next one So there is a growing appreciation now publicly right of an ability to use the public blockchain that is new That's a that's a really good thing to hear and decentralized business models are beginning to make some sense because Defy right so people realize there's something there. They don't know how to do use it yet They don't know how to how to make it work yet, but but they know there's something there that's important Technological advances zk proofs, etc. Are addressing the privacy concerns and a variety of the upgrades Coming or have already happened in the main net are going to be addressing the remaining business issues over time but now of course we know that You need to use multiple Multiple layers or multiple networks in order to address some of the performance and and permissioning I want to talk about private and public Blockchain for a moment There are still as I mentioned some good use cases for for private blockchains But we're beginning to see the use cases merge much more strongly than we've seen before We're also beginning to see some hybrid options where people are using private for some things and public for others And that's that's that's an interesting an interesting result as well. One of the things we heard very clearly Was that L2s and side chains are no one expects those to be a temporary solution? So even with everything that's planned in terms of upgrades for Ethereum No one who is actually actually building projects today Believes that L2s and side chains are are going to be temporary. They're expecting them to be here to stay to you know to remain Okay When we first when we did the research here the number one blocker that was listed was sustainability across the board This of course now That's not the big blocker that it was because of the merge So the second one is now the top one and that one was regulation and that's not probably not going to surprise this audience But it's interesting because it's actually not a blocker for all use cases And if you can you can see some of the use cases where it's not in the report or catch me later And I'm happy to talk with you but there are some for which it's not an issue yet and Hey NFTs are really making people aware of what digital assets are and can do so that's that's pretty neat And then the final comments I want to make are that look we believe this is going to sound obvious, right? We believe that the Ethereum ecosystem is ready for business. Of course, we're going to say that no actually here's the caveat The caveat is it is not yet out of the box ready That's the key result that we got Okay, you don't scroll that far please all right So anyway, the good news is there are a lot of different options, right? There are a number of different architectures, and they're not bad I know that this community is trying to push the the edges at the EA. We're trying to move the middle Okay, and so it's helpful for us to be able to explain that there are alternatives today and And those alternatives will get you moving and you don't want to wait There are good reasons to explore decentralized models Okay, of the you know and and to take advantage of the processes of the type Ethereum makes possible One of the quotes that we heard was since what previously relied on faith between two or more parties Can now be proven mathematically on a blockchain any situation which someone has to say I have to trust you is an Opportunity for a blockchain based solution today We increasingly see this being put into practice going forward the opportunities are as numerous as the myriad business challenges That depend on this kind of trust Okay, so here's my EA slide On the left is free materials on the right is what members get I'm not going to walk through all of it But I want to talk about on the left side We have primers that we're putting out there basically if you remember like the college You know plastic two-sided sheet sheet sheets were for algebra or whatever else That's what we're putting out and they're targeted at non-technical business people C-sweets in general we want to make sure they understand the trade-offs of the things that we're talking about They are free to download and use. They're under our resources tab We also have a large number of educational webinars blogs We hold events and so on one of the things that we just launched this week. It's brand new So hit it hard and expect some problems, but we do want you to try it on our website lower right corner There's a chat a chat icon Look at some of the options that come up But the reason we did that is that's intended to be a help desk It has a help desk for business people one of the things we heard most often from businesses was Look, I can call anybody that I do business with but how do I call aetherium? That is literally what they said. How do I call aetherium? So our goal was to create a front-end that makes it easy to answer some of those initial Business questions that people have our goal is not to steer them to a particular provider But to help get that initial understanding out of the way so when they come to talk to you They have some idea what they're talking about All right, and the last thing I want to put up here is There's lots more in the report you can download it for free that QR code will take you to that URL Which takes you to our website where you can You can download the report so with that I'm going to see if Dan has Anything you'd like to finish with great. Thanks, Dan so you know for 2022 we got through 100 projects and you know got down to you know just just to Just a few of them You know kind of the call to action is You know if you have a project that you're working on Grab a Dan any Dan will do probably one of these dance or anybody at the the Enterprise aetherium Alliance the EA and You know we'd love to you know hear about your project and You'll potentially include it in Next year's work Yep, this was the first one Keep sending them in so we can we can do more. Thanks. Thank you Thank you so much done and done for this amazing overview of how the EA it's been impacting the enterprise adoption. Thank you so much and So should we leave now? Yeah, but but there's some few minutes Okay, maybe if there's questions Yeah, well we have eight or questions so we can start there Hi, we are going to give you the microphones Yeah for the people that Hi, so can you share some specific examples of? Specific businesses who are implementing aetherium today on a public or private Chain because you gave like more of a general overview, but I know you're a soft specific Companies that are doing that right I understand and they've just taken away my my list with my notes where I left all the companies So I could answer that question with a whole bunch, but it's okay so one of the One of the companies that That we know of is Alaya. They did a a public placement. I'm sorry private placement using Using blockchain and that was that was very successful Microsoft uses NFTs to track Components in their Azure Server farms, so they basically do supply chain Tracking using an NFT for every single component not because and and by the way, they're doing this essentially privately Okay, they're doing it on a private network But the reason they're using NFTs is because they found them very convenient as a as a holder For information that they needed to carry along the the process I mentioned Acre Africa. That's another one of my favorites. Oh Gosh, let's see. So one of my favorites is the Again, it's a Microsoft Microsoft UI, you know, they've been a really really great partners and doing a lot of good work They have taken all of The Xbox royalties that they would You know potentially give to EA games and all all the network that that are a part of You know the Xbox network and they've tokenized that and what used to be You know financial reconciliation that you know took months You know now is is a You know spark contract-driven instantaneous project process that You know it goes through the entire supply chain large and small You know partners down the line, you know automatically get get there get their fair share and Just a fantastic example and use case for for for blockchain and there's a lot more I really do mean, you know download the report. You'll you'll get a lot more from that. Thank you Okay, so the time is up Oh Thanks, but you can ask for sure more things here. Yep. Thank you