 I think that's a very, very quick introduction. Justin is one of the active members of the open technology community in Singapore. Co-founder and current director of Hacker Space, works for IBM doing the operations and everything. Is evangelism in Singapore? Yes, and in Asia. Oh really? Yes. Okay, and probably some other things that I could think of. All right. That's better than he's awesome. All right. So today, my name is Justin Lee, and today I'm going to talk a little bit about hyperledger. How many of you have heard of hyperledger? Before today. Before today. Just one, two, three. Of course, you guys, right? Wow. All right, all right. Maybe what you can just tell me a little bit about what hyperledger is in one sentence. Somebody. Those people have heard. Come on, tell me. Yes? It's not Ethereum. It's not Ethereum. It's not Ethereum. There we go. That's what hyperledger is. It's not Ethereum. How about this gentleman who seems to know everything about blockchain? It's an open-source smart project. Smart blockchain. There we go. But what exactly is a blockchain? I mean, this is all the buzzwords and everything in blockchain and whatnot. Blockchain, blockchain, blockchain. But what exactly is blockchain? So today I'm going to talk a little bit about hyperledger. I have absolutely no idea how I'm going to condense an hour's worth of presentation into 20 minutes. But I'll try, all right? So hyperledger was actually announced, I think, about last year or so. And it is a collaboration between the Linux Foundation and several other key industry partners. And one of the big issues about blockchain, and I think I want to stop talking about blockchain, this buzzword, and really talk, say, it's a hyperledger. It's a ledger, a distributed ledger. And one of the things about having creating this ledger system is getting industry partners on board and adopting this. So just a quick overview. Hyperledger is blockchain, but what exactly is blockchain? Blockchain is about a distributed ledger. Do you know what ledger is? You guys know what ledgers are? Great. So it's transactions in a book traditionally, where you write stuff and hope and pray to God that everything is great and synchronized between your other party and so on and so forth. So this is what hyperledger is, is to solve that issue of distributed ledgers. Why they would want to create this? It's a peer-to-peer, blah, blah, blah, blah, and so on and so forth. I'm sure you guys buzzwords, buzzwords, buzzwords. I'm not going to talk about that. But what is important, really, I think it's about the people who are supporting this project. And of course, me being from IBM, doing developer relations and all that, IBM, we are one of the supporters of this project. And it is handled by the Linux Foundation. One of the things I'm really, really happy about that the supporters are, is, for example, digital assets. I think Swift is here somewhere. Do you guys see Swift? There we go, Swift. You guys know what Swift is? The finance organization that helps do, I don't know. Do you know what Swift is? The Swift code and everything, right? It's just messages. Yeah, that one, right? Yeah, it's not a payment system, but it's that thing, right? That thing with something to do with banks. Maybe those banks agree to move money around. Yes, move money around, right? So that's what. So I'm actually pretty excited that Swift is on board in this organization to hopefully push and adopt a blockchain or this distributed ledger. So without further ado, this is just a very quick introduction of what hyperledger is, but I want to talk a little bit about what blockchain can do and also what hyperledger can mean to you guys, right? Yes, we talk about Ethereum, all the various other open source blockchains available, and this is just one of them. All right, so this is my presentation. There we go. So it's about how we can actually... Where is my presentation? Oh, there we go. So it's about making blockchain actually useful for businesses, right? So as you can see, the last part is how can IBM help us? I'm just gonna skip that because I don't really care about that. I care about what blockchain technologies are and how is it relevant and how can you guys actually leverage on that? And with the open source versions and all the open source that's available there, go and modify and deploy it on your own stack, all right? So what is important is that in the business networks, and this is one of the issues that we have from getting people to adopt blockchain is that businesses in these traditional industries need to agree, need to agree, and need to agree to adopt these new technologies. And what the benefits are really is that these networks, these participants in these networks are usually cross boundary, usually regulatory and all that. And there's a lot of flow of goods, so to speak, right? A lot of wealth, both public and private. And there is a lot of transactions going on. And traditionally right now what we're doing for ledgers is everybody can create a ledger, just open the Excel and just create a line item and that's a ledger, right? Input, output transactions and all that stuff. And not only just thinking about money or goods, ledgers are very interesting when you start talking about manufacturing, which I'm sure this lady over here is into the whole manufacturing part of it. And there will be an example and use case exactly what you're talking about, how we can track the process of manufacturing and the process of handover from the beginning of a transaction to creating, let's say for example, cotton. All the way to becoming a T-shirt and having that trail, audit trail, so to speak. Blockchain is also about, or rather hyper ledger, it's also about transferring of assets and value, ownership, payments, all these assets can be tangible and intangible, all right? So say for example, a lot of the tangible stuff are usually, say for example, this gentleman was saying insurance, right? Insurance, finance and things like that. These are a lot of tangible stuff like houses, cars and so on and so forth. And there are also a lot about intangible assets. And I think I was talking to David many months ago, talking about IP, right? And assets, this kind of digital assets kind of intangible assets that we wanna keep track of and have a record of that in a distributed manner where everybody is managing this kind of ledger, so to speak, so that one of the great things with that is it is an open public domain. So if there's any dispute in terms of an IP asset, say for example, music, right? You can just go back and refer to the ledger when this particular asset or music or IP or whatever it is is being created. And I'm sure, how many of you were here for the legalese talk on Friday, I think, was it? Oh, you're part of legalese, there we go, right? So legalese is also leveraging on blockchain, right? To leverage on this contracts, right? In the legal aspect. So there's a lot of usage of blockchain. This is some of the examples. And the key thing is that ledgers are the system of record for businesses, right? It's been around since the 13th century, many years ago. These are not new, right? So I asked actually a few months ago, I asked a lot of people, explain to me what blockchain is. They're like, oh, is this crypto currency, you know, money-looking thing that Bitcoin uses and blah, blah, blah and so on and so forth. No, it's a ledger, it's distributed. That's it, done, right? And I think a few people during this conference were asking me also, right, what is a blockchain? It's a ledger, do you know what ledgers are? Great, do you know what distribution is? Great, that's what blockchain is, full stop, right? And of course, it's not as simple as that, but there are different areas to it, like transactions, contracts and so on and so forth. And you actually see, hopefully you can see the relationship to like legal, to like IP assets and to like, say for example, cars, you know, contracts and all that, right? So what exactly is blockchain? It's a distributed ledger technology that allows participants, any of the participants in a business network that we just discussed previously, to see the system of record, which is the ledger itself. Here is the scariest thing about distributed ledger and being able to get, have any of the participants in the business network see the ledger. Guess what? What is that very scary thing? Everyone knows what everybody else is doing. Exactly, everyone knows what everybody else is doing. Apple will never kind of participate in this. And this is the other thing with blockchain right now or with ledger systems, right? And we want to promote this kind of distributed ledger. And that's one of the issues. And this coming, I'll come back later to that issue and how hyper ledger is going to solve that issue, okay? So very quickly, problem statement, right? Right now in today's day and age, in order to represent or having business networks like this and doing transactions and whatnot, what's happening? Basically you as a person or an individual or say a company is talking to another of your business network or partner and basically doing all that transactions and you don't know what the other person is doing or that person is doing and so and so forth, right? There's a lot of work. How many of you, let me break this down to you, okay? How many of you have experience in procurement? Okay, a few of you guys, you all know what procurement is, right, within a big organization. How long does it take to do a procurement? Like many, many weeks, right? How long does it take for them to actually pay? 90 days usually, right? 60 to 90 days. Do you know why? It's because of this kind of things that's happening. There's a lot of participants within that network that needs to be verified whether, let's say for example, do we have the budget? Do we have that amount of money in order to pay? When are we paying? Do I have, can I get the approvals and what approvals do I need to get? And then I need to go through procurement. Procurement, hey, is this part of our contract with whoever that we're purchasing with and so on and so forth, right? That's a lot of things that we need to do. With blockchain or this kind of ledger, we can share all this in a very participatory manner and in a shared manner. And coming to your question or rather your statement about being the openness and everybody can see. So one of the things that we are addressing in the next few slides that I just wanna quickly address that is that in this whole entire system of records so to speak, right, there needs to be one or rather there can, not needs to be, there can be one governing body. Say for example, Ministry of Finance. That can be one governing body that essentially looks at the blockchain and has full access to be able to see everything. And then for each of this participant, right? The bank records, the auditor, party B, party C, party A and so on and so forth. One of the things that hyperledger is trying to address is to be able to segment permissions in this ledger whether you can read it or not based on security, what do you call that the hashing and encryption and all that stuff, right? All that fancy stuff and whatnot. They're gonna input that, they're gonna put that in so that only the governing body and you who can only see that particular system of record, that particular record within the ledger. So those are some of the interesting things that I feel that hyperledger is going to try to solve. Yes, sir. Is it more like a file system in that you try and get the data and you get nothing? You don't have permission or or is it you get something, you don't have the key to decrypt it? Okay. All the data is there, the bits are there, you just don't have the key. All right, so, so, so, it depends. Right, wait, wait, let me get to the architecture of hyperledger in the next few slides. It depends because one of the interesting things about hyperledger and do note, everything I'm saying right now is off fluff. Guess why? I will tell you later, right? One of the, one of the things about hyperledger and the vision of hyperledger, right, is that it's going to be a pluggable system where you can define the security model. Okay, anyway, so I'll come back to that. Yes, I know, oh God, right? But, Nice thing about standards. Nice thing about standards. It's so amazing. So one of the things about blockchain is a lot of people think it's Bitcoin, it's not, it's not cryptocurrency and we are not interested in cryptocurrency, okay? We're not, we're completely not interested in cryptocurrency. We're interested in the ledger part of it, right? So it is not Bitcoin. We have to remember, it is not Bitcoin. Cryptocurrency is going to be an extension if you want to add it in, into hyperledger. There are four things that you want to talk about hyperledger, who I got five minutes more. There are four areas of hyperledger that you really want to be concerned about that the whole entire what ledger is all about is shared ledger to have a system of record, smart contracts to have that contract and what not privacy, which is what we're going to discuss for authentication, security, verifability and so on and so forth and consensus whether if the system of record when you enter into blockchain or enter into the ledger, if it is verified or not. So there are a few layers, right? There is the, for Bitcoin, a lot of people know what Bitcoin is, right? The consensus is public. So every single note will have to say yes, this is verified and have a common consensus before it's being entered into the ledger, correct? Am I right or wrong? Okay, great. So one of the interesting things about hyperledger and this project is that all these different four different aspects are going to be modifiable and pluggable and extensible, right? So you can define your own consensus model, you can define your own contract model, you can define your own privacy model and you can define the way how the ledger is going to be shared, all right? That is the vision, by the way, doesn't exist at the moment, okay? So just FYI, right? But that is the vision of what hyperledger is going to be. So as a shared ledger, as a shared ledger, it's being shared within the participants. They have their own copy. So coming back to your question, right? Yes, they will have the copy, but they will not have the key to encrypt it, decrypt it. As simple as that, right? It is the shared system of record that everybody will have. So it's in the next question after that. Okay. You were mentioning someone like the government body. Yes. They have access to everything. Yes. They have access to everything, although they have a master key. And once you go to the master key, no, no, no, no, no, no, no, no, no, no, no, no, no. So they're not going to have a master key or anything like that. So the governing body will be the one who will run the blockchain. That is the one of the key points about blockchain technology, right? You need to have someone in that business network to have enough clout in order to say, I'm going to adopt blockchain and everybody else, screw you guys, you better use it. Essentially that's it, right? And that one person or one company or let's say a governing body will be the guy or the company that will control that. I know it's going to be, I know, but that's one model. The other model is that there is a group of higher level governing, right? That they can actually control. So they would be the ones who have the keys also, distributed out. So each of the participants, they will have the keys for those, right? And then the third model is the public model which is Bitcoin, essentially, right? Where it is going to be verified all across. There is absolutely one and one key only and then you manage your own, but there will not be a master key. Does that answer your question? Effectively, if everyone's going through someone else, they have visibility on all transactions, which means it is a single point of failure. You get in them, you get to everything. Exactly. Which was the same argument. Exactly. But not quite. And again, I've not looked at what they proposed. In fact, the framework means it's all a bit nebulous. Yes. Yeah, yeah, yeah. That's why I say everything is fluffed right now. It is something like a notice system that says the contract, the agreement has occurred, the ministry, for example, is operating in the government. Yes, okay, we reported this curve. Yes. No idea what we reported. So remember, remember in... But no, no, no, no, no. There has been a record between Apple and Supply A. Someone knows something's happening. That works really well, right? Then you've got a criminal investigation. Yes. Record issues have been up. It says, right, directors will see your Apple. Hand over this document's false. It was hash resigned in your presence. Or, sitting jail. Yep. That's how you bring... So the legislative action contains the transaction information. There are many ways to slice this. Okay. There's a notary... I don't know if that's possible to propose, but a notary... A notary is recording that a transaction has occurred, and you don't need to have the same visibility everywhere. You can require that everyone who's transaction has to have your addiction involve the regulator as a notary. Correct. They don't need to know the transaction at that time. Maybe they do, maybe they don't. The long way to cut this is all they know is that a transaction occurred. They signed a hash. Faved it. And then, if a court subpoena is back-documented, it's exactly the same as how you use documents around an object. So there's a bunch of ways to slice it, but in fact, it is a bit fluffy. Okay. Right. Exactly. The thing is, the whole point is, it has to be fluffy. And that's why I say, right? All this is all fluff, right? But it has to be fluffy because we are still figuring out how to engage the businesses in order to do all this system of records, right? Which is very important because we need them to actually adopt and coming back to the notary part of it, right? Where you have a notary governing body that signs it. This will be the governing body, so to speak, where you can define whether if you want it or not, right? To, for them to actually verify it. And so, which is the next few sites about the consensus. Okay. So smart contracts, I have very little time left. So let me really, really, really go through very quickly. Smart contracts is business rules upon the contract. So one of the powerful things about Hyperledger is this smart contract where you can build business rules in the transactions itself, whether before it goes to being recorded as a transaction, you can have business rules on top of it. When it records it, you can have business rules on top of it to spin off certain things. And after when it's being recorded, you can have other business rules to do other things. So one of the interesting things, yes, very cool, right? Exactly. This is one of the things that's very powerful and you can code all of this stuff, right? The next one is the privacy, as we mentioned about the cryptocurrency and cryptology and all of that stuff. Transactions still needs to be authenticated, still needs to be, it will be private identity, does not have to be linked to the transaction itself. So you might, you don't even have to know whether it's Apple versus a company B or whatever it is, that there's a transaction. You know there is a transaction happening, you don't need to know between who. So that's the level of privacy that we can give. However, because it's so fluffy, you can bring it down a notch, right? And that's one of the things that we are trying to do is to create hyperledges so that it helps businesses based on their models because there's a lot of different models available based on their models to create that model that they want to have for the blockchain itself. Consensors as I mentioned a lot of times, you know verification and all of that stuff, usually what you want to do is you want to have the proof of stake that means the validators have to be doing all that. So how is this relevant? I've got five more minutes. Transaction time, so it really saves the transaction time a lot. You have to remember, right? Very important blockchain is not great for immediate usage. So immediate transactions, no, no, no. So stock market, no, okay? So stop thinking about stock markets, right? It is near instantaneous, but it's not instantaneous. Take, basically take about five minutes, one to five minutes or so depending on your systems, right? And it will be preferably about a day, right? To verify all of that depending on your transactional model and your consensus model. Other things about overheads and tempering and fraud and all of that stuff. One of the things I really like about this and a lot of people do not like, a lot of businesses do not like about the tempering is that once the system record actually gets recorded in the ledger, it cannot be changed. It is, we are not going to change that for hyper ledger. It will not be able to change. So businesses don't like that you can't change it? Yes, exactly. Businesses do not like that you can't change it. Depends on who you are in the world. Right, exactly, exactly, exactly, right? Depends on who you are in the world, right? Okay, so consensus. Is Dylan Ho in the room please? Who? Next one. Can you come down and start setting up? Okay, great. All right, there we go. So for use case, right? This particular use case, you can quickly take a look at it. It's routing codes and all that, not really critical and everything, right? But one of the great things is that you can, each participant actually maintains their own code within the blockchain network itself. Everything is consolidated near real time and then you can do editing and whatnot. And basically, if there are any changes, it propagates really quickly out. The other one is vehicle maintenance. Yeah, basically it relates to what you are talking about, right? So, or rather in the manufacturing pipeline where how do you identify which part of the pipe where something is being created and being merged together? Very importantly, you know, in your computer systems, you know, there's a barcode there, all right? If you scan the barcode, it actually gives you that whole entire record, so to speak. What if you can use ledger, hyper ledger to actually do all of that stuff? Next, financial ledger, which is what those guys are doing, that gentleman over there doing, what, insurance something? Yeah, that one, right? So this is another use case for the financial industry and then letter of credits, this is another use case, right? The slides are all available on Dropbox later so you can read it. Potential use cases, there's a lot of interesting things, especially in the public record space, in terms of citizen identity, in terms of, you know, our taxes and all of that, very, very interesting that we can do and leverage on blockchain. Participate, blah, blah, blah, blah, blah, and so on and so forth. I'm just gonna quickly go through key players that needs adoption is the regulator, industry group and the market maker, right? Quickly, blockchain is not, blah, blah, blah, blah, blah. There we go. Okay, I'm not gonna cover how IBM is gonna help you but what I'm gonna do, whew, one question, yeah, what I'm gonna do is I'm gonna show you hyper ledger on the website. So like I said, everything I just mentioned is all fluff. Okay, it does not exist at the moment, right? So if you go to hyper ledger in the GitHub repository, you only see two files, basically, where is the source code and everything? There are currently three projects, three contributors that are, whew, three contributions that are being considered right now and proposed, right? The first one is from IBM, the proposed contributions to the hyper ledger and if you click on that, you'll be able to see the IBM version of it, which is here. So this is what we did, OBC, we call it open blockchain but eventually it'll be merged into a hyper ledger. The second one, it would be under digital assets and they will have, they call it the HLP candidate, right? So this is another source code that you can start using it right now. The third one is this by Elements Projects, Blockstream, I have not played with this so I have no idea what this is and please feel free to look at the source code, contribute to it, we are still building out, oh sorry, I should be showing the IBM one. We are still building out all these different components. If you wanna try at the moment now, right now in beta, for this source code, go to BlueMix, go to basically under the catalog labs, it is experimental right now, go there, you can play with the blockchain and spin up a network within one click, okay? So with that, BlueMix, blockchain, that's the only IBM thing I'm gonna talk about. Thank you very much. Whoo!