Rethinking Enterprise Blockchain | European Blockchain Convention 9

[Music] 2 1 thank you very much right I'm going to jump to the end of the slides actually there we go so just to introduce the company first um my name is Adi benari I'm the founder and CEO of a company called applied blockchain we've been in the space for a long time so I started the company in 2015 uh and we've been building solutions for a whole range of clients and you can see some of them on here um our biggest client is shell where we built an Enterprise trading platform which is the largest largest trading platform used inside the company across the globe today um so we've built uh we've had a lot of experience and really uh built with this technology seing what works and what doesn't and I wanted to share with you some of our conclusions today so I'll go all the way back to the beginning okay so I guess the outcome of our seven years of work and building all of these Solutions is uh a platform that we've developed called Silent data and as the name implies this is about uh keeping the data private where it needs to be and uh and and applying that in particular for Enterprises and businesses so I have an Enterprise background and so this is really where I'm coming from when looking at the technology um what choices does a large company have or really any business if they want to use blockchain and they want to start getting the benefit or the efficiencies that you can get from transacting through a blockchain and we build with this technology because we think it's more technically efficient right we think that if you can send funds and receive an asset in a single transaction on a single platform you're really going to be able to transform the Way businesses transact The Way businesses trade the way we trade assets the way we make payments and so on so we have technical efficiency but as a business how can you approach this how how can you even start to use it so the basic choices we have today the first one is you can use a public blockchain the public blockchain is really where it's at right this is where the Innovation happens this is where a lots of companies are building and deploying this is where standards emerge right we have token standards this is where interoperability happens we have one defi protocol talking to to another wallet talking to another protocol and so on so this is really where the magic happens but if you're a business a big business a regulated business and you don't want everybody to see your activity then there's a challenge right so so the public blockchain is transparent um the other thing to say about the public blockchain is it is decentralized right so this the the primary thing that you get from a blockchain is the extra security by having a group preferably a large group that's sec curing these historical transactions uh the second choice we have is what we call a private blockchain right this is where most companies go and the reason is because they don't want their data to be public and also because they want to be in control of the environment there's some level of control that a that a large organization needs to have their it department needs to feel that it has uh in the environment that they're working with so the the Fantastic thing about private blockchains is it that're private right nobody sees your data unless you want to share it with them the problem is that the way private blockchains are are built and designed every participant in order to enter their data and share their data with whoever they want to needs to have a node right and in the in in almost all the solutions that we built for large organizations they started off by building and hosting their node then they went to the next guy and said we want you to participate in our platform is it okay if you host a node and that's usually where it stops right because the other party has an IT department they have to have a budget they have to they want to use it you want them to use a solution but now they have to host your infrastructure that sounds like uh something that makes sense for Architects but it doesn't really make sense commercially and we found it was a huge pain point for most of these solutions to get rolled out now some organizations went the other way around right they started a Consortium so they said in our industry let's get together and create a network and then we'll come up with Solutions now some of those did start that way but the problem there is that is finding the business case so you tend to have these two different approaches and and both of them kind of really struggle for these reasons the other thing is in this private environment because it's private you don't really have composability you can't really do payments because you don't really have a common payment token um and they're not really suited for assets and Providence which you need in supply chain tracking and in assets issuance because the way the Privacy is designed I put some data in I only share it with the party I want to share it with then they send it they they do something and they only show it with another party there's no way for somebody to see all that history or it's very very difficult and so it's very difficult to validate the history of transaction so again that good stuff that you think you're getting with a blockchain gets diluted or kind of disappears um and many many companies that we work with as well where where they're stuck is they've have got this Enterprise private blockchain which they've built where they've built a solution now they want other people to use it but they're really hosting the nodes themselves or there's one part party hosting the nodes and that's not a good place to be because an application costs 1X to host if you're hosting 10 nodes you're paying 10x hosting cost on that application so £100,000 a year turns into a million pounds a year for no reason because you're not actually adding any security because you're hosting all the noes yourself so companies kind of got themselves into into a twist with these things and into quite a challenging situation um the solution that we've uh we've put together and we think solves all of this is is what we call a silent data rollup solution now the way this works um the the private blockchains you can see them on the top left here um they give you data privacy the public blockchains on the right like ethereum give you de centralization and security and they also give you what you can see on the bottom which is access to public chain liquidity being able to compose and integrate with other applications now with silent data we can join those two those three things together right what we do is we maintain data Integrity of a public Ledger because we we use what's called a rollup so the Enterprise hosts a blockchain that blockchain is private it has hard Hardware privacy uh protection other companies can use it because this company can't see their data because of the hardware privacy protection so if I'm company a and I'm doing some transactions Company B comes along if a is hosting it they can't see be's data even though they're hosting the solution right there's Hardware protected data privacy so we can have a single instance that's running an industry application on behalf of a number of companies they don't need to reach host a node because their data is already protected through a hardware protected uh data privacy solution and what we do is we create the transactions and we do what's called a rollup to the public network that means that we create some cryptographic output which proves the Integrity of the transactions in this private environment and that gets posted and validated on a public network like ethereum and that means that anyone can go to ethereum and check that the transactions is in that in that Network were valid without actually see seeing the transactions right we have proof verifiable proof that the transactions are valid but we don't share the data so we get the best of of Both Worlds and the data privacy is configurable so we could say here's a piece of metal in the supply chain and we want to see as a consumer that's buying something that's got that metal in it I want to see the entire journey and I want to see that it's produced in the right way that it has the correct attributes and carbon attributes and so on attached to it so there's a level of trans transparency that I want to see but there's also some things that we want to hide maybe the companies don't want to see each other's names in there because it's a supply chain and I want to build a product and I don't want everybody to see who my suppliers are right but I just want them to see they're doing things correctly so with selected privacy I can do that maybe I don't want people to see how much I'm paying my suppliers for example right that's a very sensitive information but I want those transactions to be on a blockchain because they can be transacted more efficiently through selected privacy we can do that um so that's that's a silent data rollup we think it solves all of this and uh if you have any questions afterwards please come and talk to us the second uh solution we have is what's called a silent data Oracle and this is a way for web three applications so applications on a blockchain using smart contracts which deal with tokenized assets to be able to use data outside the blockchain so that's data that's normally in what we call Web 2 apis now the Sol the normal solution for that is a data Oracle standard data oracles have two problems one is that the data isn't private because the nodes that host the oracles see the data in order to to witness it and then and then drive the activity on the blockchain the second is that they're very hard to decentralize because those uh Oracle nodes again they have to have access to apis and accounts and so on and it's another layer of decentralization that needs to take care of and is expensive so through silent data Oracle we use the same technology that we use in the rollup right which is a hardware secure Enclave in that environment we can keep the data private and we can have a single instance that processes it so I'll give you an example that we implemented and we took it through the FCA sandbox in the UK we integrated with personal and business bank accounts so we proved properties of people's bank accounts without having access to their data okay the solution integrated with open banking API from a secure Hardware the data from the bank account goes into the hardware and nobody sees it the processing happens there's some proof cryptographic proof gets created this person has no debt or this person gets a regular income above ,000 a month that proof doesn't reveal the data that was used to create it that proof can go on the blockchain and we can have a loan issued to them or some other credit or something happened and so through the silent data Oracle we can create privacy preserving proofs about data that resides outside the blockchain and nobody has access to that data not the host of this solution not anybody in the middle and certainly not on the blockchain okay so this is how we think we add privacy to uh Enterprises and to businesses looking to use blockchain technology in a way that they can actually use and they can tap into the goodness of the public blockchain without compromising on any of their technical requirements privacy requirements and so on um we did this work that the technology that we use underneath is from Intel it's called sgx and we have some material that we produce together with Intel there's papers and podcasts and so on talking about how silent data Works um we've been received awards from the bank of international settlements uh we took this through uh digital sandbox in the FCA and so on so the technology has been tested and witnessed and so on uh happy to speak to any of you uh later about this we have a stand just behind here um my name is Addy and the team is over there if you want to talk thank you very much thank you Addie that was very interesting