ETHKL#3 - Panel: Data on the Blockchain

[Music] so next we will be joined by hurry to moderate the panel with Shawn Josephine Ernie so the general topic for the panel will be bar data and now there are some questions about data but before we start going into that direction I first like to get a bit personal and from each of you how did you get into logic and was data part at all especially for any teacher so I started out as an economist so I thought economics in the Universities and I started doing research in so I've always been researching technology so one day I discovered Bitcoin and I was doing research on the right and and in law started from that so he started looking at the Congress and that has a lot of you the data so the first things we did was to actually scrape the whole block sheet that we can talk data and try to you know hand it out so that we can do some analytics on it so that's how that's how it happened from 3040 I am actually a bad expander from back of America previously and in a group I specialize in something called to make the algorithmic trading by designing tutela automated trading systems for banks and hedge funds especially at the retail level and that's how because when my first I see or was with the cabin network there a decentralized exchange that was when they started off but they needed somebody who knows how big it is working for how foreign exchanges are transfers and how the matter would be active rising so that was when I was looked into the Photowall to help to design that trading platform discovery is of management that has the staff in fact so that was about two years back and subsequently now patter is already pretty stable and also right now healthy which adds to solve the cyber liquidity problem which is on one side on market space and how to design all this deep liquidity issues and how to solve that up within the matter space that's how I got involved with no space [Music] background was in couple so primarily a couple data analytics why am i right so how good are it's actually faced a series of rapid acropolis so we are now way how we get back in the fire company because explain it so we have a lot like that but it has difficulty penetrating there so I was actually in the looking at developing difficult Enterprise abilities cases based on so after that I could see how nothing that's done so at least because guess done so so start going to party after you were pretty swipe yes the data is very broad where it's a catch-all phrase psychology so which part of the pie are you two looking at and how would you use needle for your project for us the data that we will use case specific and depends on our ecosystem so for example financial services for example money this is right on we are more interested the more focused on getting that they are building our platform to accumulate the data but not in a way where someone or that not waited in a way where is extremely such a lie that someone actually can monetize it on level but and we are looking at meaning who use cases where the analytics important so vector for the tax Essman try we got to do data assessment one is it really meaningful when you school right arm in marketing my video is interesting to get every business you know when examine but ultimately what is meaningful to us are things like getting access to credit services financial services getting access to insurance so those are things that we think are warming with the petitions for doing the assessment rejects you noticed I'm sitting instructor right what happened is that we are more like a bridge because they are more on the data producing we even at the other end of the spectrum is that we consume data how do we consume the rise that uses information personal information to decide for example your credit scoring yeah and also things like your behavior basing on let's say for example daily produce leaders and say this guy every month remain next back to this country and Xbox definitely and his a consumer frequent consumer of remittance basing on this chart data the remittance agent if the party that is operating on a platform phyto system would then decide to get what kind of discount structures to attract and maintain so we are in the center here we are bridging everything clearly and using those videos for the parity and kisses for swipe is about 10% is mobile so catalyst for app developers of India versus decentralized website a flurry we can think of ourselves any count be centralized go by attribution so everything around us either from your mobile data nobody in our formulas device Network of course all these putting a concept pack on the network scheme so interestingly we had four projects working on Financial Inclusion speaking in detail last month so how are these projects to be able to work with activity to leverage on your ideas so I would say number one is how they manage the data so a lot of financial future projects have not fully considered that when they are building of the election systems because like inherently blockchain is transparent right so if they remain the data I really not want the system actually knows who information of the users across our financial future a lot of people be taking on as a developing country they don't really care about how their dinners being used right now how how about them to be really seriously thing about it the way that countries developers the way that countries adopt regulation is very right so we have this wave of data privacy laws coming from to us asking Bureau and we will see that we slowly move on into every country in the region and so on right and that is going to catch up faster than you can imagine right and by the time you collect all this data maybe have collected you know two years worth of data from your users in oil or your money lending service in Malaysia for example then suddenly the government also you can use it for anything red sword that how you gonna manage it however this so we think our way is cook way but we're not think I know we will be the calm that does this but we think that this is the paradigm of the did iconic and it also enables the idea of doing analytics and SS - that's what we want of the village I'm just a quick one while you're at it so you mentioned is ID tell us coming to Asian countries as well and you mentioned a DJ residency those they're already there what do you think about how with blockchain the currency is coming out all these decentralized the specialist world is coming do you see these laws still rebuilding relevant or we disrupt it I think the problem with regulations is very hard to change as long as it comes in so the way that we designed of that town is we want to work around it and we want to think of ways to work around with that it is not really disrupted so so these are ascendency laws consider actually by we really think about it do you really get to replicate everything all over the world right so so you don't really need to do that right a lot of use cases is very specific to the region right now Alameda de time that region so one hard one replicating it to somewhere where you know the person get access to the data and you know they don't really know what to do it as long but we still want to enable the fact that you know data analytics companies may not be in that local system for example it was Singapore Bank is interested in people in Vietnam and how they follow how the language so so they can still so with our model that has to go about doing analytics into the ecosystem without taking the raw data out of it they get their results and they get their outcomes and that's that's all we're trying to do so we are house stepping around the regulation right and trying to make sure that you know the government's don't view experience all that you know the citizens data is go is gonna go everywhere around [Music] so what to Joseph so your front fiber and now your reject so I imagine you must have had a lot of data on the market so you share some insights and what you have one say the number of actual users or traders or cryptocurrencies and the actual amount that's being traded perhaps that's a very interesting question yes I deal with a lot of data and prices and volumes because of trading experience that I have right now if we look at a whole the entire clip dose base market we have a daily trading volume today an Englishman for hours about 11 billion we arranges maybe about 15 billion today now we put it in the context of the mainstream financial will traditional financial volume we expect in the banking system about 5.1 billion a day now the five point one three in the day thirty percent are three percent and that represents our teachers let's just focus on sports parties is like money changer you couldn't pay cash get something back so spot of three percent of that we're still looking at about 1.5 trillion very podium attained in the real financial and 15 killing both of transactions volume in the capital will have to very very nervous yet introduction if you look at the overall wallet how things are treating intermarket if you look the number of addresses in Bitcoin let's just say yeah we see the curves that goes like this when he's until January and then yeah the hyperbolic spots so the number new users coming into the market stops it slows down but thank you about T and from June Bitcoin addresses increases politicking so be and so what we see is that the matter is actually increasing conditioning again if you look at the feature it term has about maybe about 40 indeed 93 we also see this same curve that goes on and happens it's all just one Bitcoin and from the past to matter but if I think about April but the curve of new interim wallet coming in is no longer hyperbolic but it's a 45 degree coincidently to look at the price the concept is and then translate down because back ok general happens and what eventually here is that we have seen penetration we have not seen the price increase in missing price stabilizing actually there but not all users I'm missing what we're seeing is that eventually what this translates to is are missing a lot of focus people were buying this who miss the boat of course those kept supporting December and January they are missing what happen is that we're seeing a new group of people coming in from the mainstream something sometimes in attitude they are the holders were coming and from an OTC and the bigger we couldn't the wheels matter sighs yeah if you look at the whole 15 billion kind of turnover from the what's reported by the exchanges the OTC markets are actually double or triple that the policies markets are what we call the over-the-counter development changes they are not before the Thunder will change this adulty this weather will please you don't go in and go to peanuts look what any order you've gotta move the market so this guy who built the executed you guys to to discussions actions and they like ice but if you look at iceberg top of the transactions believers actually at the OTC level yeah that one we are looking at a part of it but then and from that angle we're actually seeing orphanages do certain visible coming on to it and they are atomic it would say these people if you look at all this data that we collected points that people are coming in to buy and whole we are seeing penetration slowly and this is actually part of the for the longer thanks for sure so you've been running cheapest white and for a while and you said this issue is fifty right for me offices they share some stories with members of the audience about what these issues are before your real experiences this is classic back but why validation on SDK level our climber so primarily one the assisting sample balancing plan is doing so and [Music] blockchain token set different so this is you know for a block it will inspire you know the topics are big mean that just like that but for a real world like our traditional business is very painful because every dollars that they are real money from investors previous species so it's really for so my apologies we have noticed that there are subordinate behaviors designs that if so the solution is series of behavior tracking of the verbal behavior such as overthinking just like Instagram I would click too many times then we needed the time frame then we start ladies [Music] after abilities to actually stop them from building campaign so they also had account from California conceived especially for recency perspective from retro perspective how much how frequently and how how fast their to people to work so how this actually you can degree C so we mentioned there are people who can actually so about 70,000 fans so this these are professional tickets because network that you have to me so then of course we hopefully with data validation and SDK level and the client level before we post it after the whole lotta networks this can reduce tremendously further vehicle and cleanup right use of the one polymerizes go to the network and create unnecessary pulse positive effect on the denote so I guess it's all a question to me how with boxing resolve these issues are not resolved frankly this is particularly database rain so it's not business and the smart contract EPS is there no matter how become chili completely hit 40,000 deficit so what you need to do is still at the beginning of the focus on the capital project clean up democracy then after that you use fortune as way we socialize ways to start capturing service data into distributed storage is not decentralized is this impossible to put it on to me because it's Canada so then you use only the quality two minutes do you of the data sets for example does it work correctly to a moment is it being used multiple times [Music] when there are some procedures as it used to be like many times different parties and the actual abuse of data what so interesting an invention Facebook with all these talk about privacy another day like today very eventful opposite would be lot scenes in general are very transparent I think very short cover this so to me right now I don't see how you could do it where you store the data and notes don't see the details of these of these people back so how you put it on the boxing but also making them so so approaches dispenser okay so you really look at so I see talk to implementations into one is the world of visual assets which are tools and currencies professional in that world total transparency makes sense especially you are looking at anonymous transaction [Music] trying to make your client function as well as money or cash in the other wall which is watching for data and talking about information [Music] so pitifully fire giant Jupiter chain I was looking at me and that was doing dog chained in plantations enterprises and a lot of these use cases that we were looking at worst life is a group of companies on industry wanted to share information with each other but they don't want everyone to see everything right so they want selective moving the one arm specific channel so that's why if you look at the evolution of the permission chain technologies like that we like Lauren biography they had all in October state where they have some private messaging and a state where you know only select the people we didn't that we can see certain information and so if we really think about information level and how we bring it into the public domain how do we consumer eyes it on again we tailoring so the stuff surrounded the tea people are doing one part of it they are actually storing that until right isn't your Chi and only allowing the identity verified on a decentralized level but when we think about the transactional data can i released all the option and the storing objectivity because what gives the Boche values they need the ability of the data we wanted another camera : what she meant to be auditable to be very viable but actually we really think about those things right you don't really need the data to be open in that we going to be auditable it has to be encrypted data well as long as you provide the right partners or someone with the right authority to come in and you click the date and so I don't see the conflict there between the transparency idea and me and could think they've done before putting on lotion ID on this it's just how we are going to deal with as we involved in use cases or coaching I think privacy becomes necessary to allow these pieces and Egyptian schemes that become very important and how we handle that without sacrificing any efficiency of the so that's something that I won't say that we have the solution for about we are working towards and we are trying to develop this is a very deep question privacy the kebab angles to illustrate a subject that I am on a public bathroom I do not believe in [Music] it's private privacy because on the transaction level it is our responsibility to have some form of transparency because this is where dodgy business comes in money laundering terrorism financing in order concern you cannot be myopia we cannot have an anonymous point to say that not seem like public law changes they are not anonymous they have pseudonymous there's a big difference a pseudonymous token is that we have a valid address and everything is traceable from beginning to the end from the videos in today thank you where is today that is pseudonymous that means I can actually use the blotting to the trafficker he has done the transaction including teacher that is pseudonymous anonymous is when somebody has a transaction and nobody the food transaction is so today Bitcoin is less useful to a money bigger than cash before the 50 bucks today the Chen society has gone to some vampire and there is no way you can check that but you can take the full game on lockdown on Bitcoin so that's why my stance is that I believe I do not believe the marvelous place yeah now having say that we put it on the other side as they consume from rejects perspective we want to benefit you what does it what is privacy what does it mean to you today we want to have some kind of data collection point let's say for example an editor today somebody on the ramekins agent somebody comes in and says hey yo everything will get a guy today they come out to me and I look at you who are you I don't know you how much standard I give you whatever what can I do not know but with this type of information from data and how you is how you were using other guy immediately if I have access to your information on the spot I can customize your experience and give you the best time of discount structure experience what kind of bonus systems that you would like because I know from fact that today on day one we anything about me I have the data I know what kind of consumer you are what's that meant to belong to so from that angle we want dealer to be transparent do you see that's a conflicting time so there is no bright and no prob now having said that that is why we have private property we have the break again have a fiber fabric where you can actually do permission based voucher house thanks my person stances that did you need anything that's private that is permission based you should be all deciding on what we call the custodian they registered in this custodian is a neutral telling where they collect all this data and who it in a provision baseball team anybody needs it with your consent to get out and benefit you as the consumer it needs to become fully traceable this is my opinion on how privacy data practices work on a global scale for everybody if we really see that you put some having minutes it is private so what you can do first you identity anonymous so you can use have to go back a Google in Apple so just do it by definitely or ideally as stage for the identity of course they were to only anything [Music] so that's one panel second actually set up private casters for the data storage and I see they're actually for real adoptions of not changes it may still need to move down the path their perspective or from the price application because for what is slow economic works [Music] ecosystem by this attended credit all and which wall then you get the classes out okay so they're coming so I think we have time for this what especially I understand all three of you are either running projects or are working have had our work in the countries around the region and this is a data collection point so what are some insights on the regional market session such as Indonesia of Vietnam I just circulated a brandy Indonesia has more cryptic wages than stock traders h-x share with us Malaysian mostly finishing project some of your insights of stock short religion by the way from record but it just happens to several companies in appointment happens their business the factory is no separation in religion and so for Indonesian I think it piss off me the everybody's great after right now the crypto space so they have a nice thing about the legs which is a kind of quality so I think so then the train size is small so those defects the state about given dollars besides hiragana Tuesday due to the fact that the high mobile penetration hi I'm Bank very possibly trust me fancy the intelligence youngsters a very silly they are really really received so a lot of graduates from techyv.com but though from the extremists must perform primary narrative so the parent has added that really we need to be applied about the upper education so that's what these toxins picking up so much so they're 21 from Korea is coming in to the kill 20 paces away as if I want to so those are community wise si dimension right surprisingly they are very developer centric so there's a community that run by daily wishes she came up with a thousand eleven thousand networking solutions speaking because so very localized the type of cell we ran the leader checker and also the minutes per thousand this day so it is picking absolutely [Music] turns off the local network I think they are pushing so it is so they're you know the government is really very and adjusting the push starts and young young people do so the agency but starts kind of concept crickets it's active as the graduates [Music] of course technical team so universities like [Music] okay time since we start off with in the nature of yo Dex has about I think on average 500 million worth of trader birthday it is a very nice offer me I think December January aloo no Detroit was satella Malaysia they were doing something about certain from that perspective we have how does equal penetrated all these factors come in please the biggest market is actually inhabitants this is why everybody is rushing into remittance because they have like 20 30 % of their populations are foreign workers information they have micro parameters as most of them are very small us but I advise is huge and microbrews hey I'm extra bonus as well microbots are quite a lot of credit a story yeah militia sorry come then implements you have this latest not a movement but incredible government-created first it just taught that me where they want to enter it for the I co starred in we have a proper IC or regulation they are creating a exchange for Isis in Thailand Singapore everybody knows us what instantly ICO to take a walk Malaysia surprisingly you know and also the president for genetic to toe Association of Malaysia and foxy in Malaysia we are dominated by one people these possibilities cost it is very very sad that today in Malaysia so presently we're pretty reached bunch of people yeah but we invest in this idea why a lot of this contracts they have a lot of this guys come here and says that he joining I promise this plan that says is a Bitcoin money you pay money to me it might be a little bite okay and surprisingly people buys into it you know and I have no idea why but surprisingly that is what it means that the key word a pleasure I think the key word here is unfortunately if you look at it properly religions are trying to drag every single part leader is out there whether it's fun if I know I'm gonna lose to her but if I it is right now okay but until that as tangelo we should be pushing our government to talk with the two currency because it is the beauty of end it is supported us and cryptocurrency to me is the key in this order as well and unless we move ourselves with country as a nation towards this direction we can form a part of all the struggling I mean look Thailand Indonesia Philippines Vietnam even dissolve now I'm being asked to help that form the policy 47 special economic zone because now just coming out they have no resources so they try to create a new digital cognitive so they need people to help to form these policies as well so all these countries are coming out and doing this and religions actually very soil which is very sad and I hope there but if you put your topic even hey let's look at that cryptocurrency something but we have reached people just [Music] I'll just make like to bury comments on this number one is the community in these regions are different from [Music] it may not be that high is the whole different consideration in terms of culture and how they accept technology and how they view you know top shape in technology or even s so that that's one thing and the other thing is actually navigating around so option is a very diverse place right so Malaysia is different very different from the it's a- navigating the regulation navigating the political that's it it's okay you need to learn as if you we hope in this bed are you cool thanks guys now we're now opening for anyone because it's to ask a question the score is down over here the new feature dr. Edwards high probability I want to ask you guys about your token economies could you expand how the totals work because I understand that Bernie didn't have time just yeah I'm interested by the people asking questions maybe if you could in like two minutes basically the token economics behind the platform would be in terms of incentivizing so on the top level is incentivizing data production and incentive I think like analytics companies in using tokens it's and device data elements and then we want to then chew that let the token circulate in the ecosystem and economy wrestle but I received workers I can spend it in the ecosystem I can go to merchants i can go to that and use it to offset some buy purchases obsess on my books so that's the local ecosystem economics for took mean system what we hope to achieve is to actually look at two things what is how do we stimulate women and holidays and so the man side under demands that we are working on the local ecosystems and we're looking at use cases limitations so that it has to be a push from us to ensure that that's continuously month now how do you read them to really make that ecosystem but we don't want how the case with other people to do with material for the client what they are doing now and those toys and not use it so we want encourage circulation and how do we encourage circulation is a very important aspect of making the ecosystem stable and making it sustained in the long run right so so we are looking at that from the photo column and looking at that from the concert system so there are two things we are looking at one is at the technical level to implement EOS the other which is challenging mentioned before I mean actually doesn't mean a lot of spoken functionality the after other level we are clear from the economic several things and the incentives set of things how do you you know maybe launch a POS system that provides the right incentives such that people will not follow the points and such that you encourage circulation so we experimenting that that because so I come from economics background so and we are doing some experiments on that honor [Music] oh that's I'm the dreamer I believe enlarging the entire ecosystems instead of just working within that interval so from a project perspective by creating this cap platform we are hoping to Kanpur traditional my license moneychanger licensed moneylenders or banks to actually land my it is so bringing funds from the traditional into the crypto space instead of just working on the two systems with no spaces of so we try to externally what we're doing is a habit away everything's the exact we are trying to do that so that relaxed model where you know if you select realized or your bone we are tokens which plays a lot of Botox yeah demands of the driver use case ah doctor to my [Music] Avenue from technology is their post company we do it without payment solutions so people to know about repeaters especially is the showstopper Joseph okay I have very good connections in conversation Airport I know so I work with that mustika interruption of us so I did not do it myself of sentiment not cheap the winner is a burrito now this is a tricky question from a regulatory perspective yeah fortunately I'm coming back now if you look at the actual regulation in Malaysia we have very major license that we see actually that we have to work on the first one is my license second is and the third one is Remington's license do these variances right now at this point obey the guards stands on exchanges is that regulator provided you have one saw compliance officer however in a future near future we're seeing that they are going to implement a requirement for Dyson evolve license means that you need this license to see on your platform okay money is where a lot of this current players out that were giving our points the point systems so they in what they are doing is that they are trying to turn your radiator into points that by cell requires email devices but at this point in time because of the very area where one is not money until you are actually selling a book that so the e money is not required at the station regulatory wise but if you are trying to ram it break it out then you would need the remittance so if you take away that and I say that okay I just want to do a remittance business right today you do not you only need to have a look at compliance pawn shop local compliance officer registered certified by Baker and potentially we did the next six to one years six months to one year you will need evil devices and I usually two more questions one over here and what I think we any more questions you can ask personally to dismiss people right my name is ole I believe the solution set so I have to question for to be 30 the first one is how to be touching is the side chains because I see a lot of side chains that come in and the second piece you mentioned is that you are maybe some challenges minutes you can prioritise many uses keys so my chain how you guys are eating we use the keys right now it's movin thank you objectivity is not exactly a suctioning like it is a it is a boxing architecture in in corporate suction the comedian's these red so the sidechain applications here right now that we are working on automation side chains right and they are very safe implementation of that itself as a boxing Network is not any different from any commercial side chain know what we are trying to put in there is the key management the privacy encryption and the expresso so that's what we're trying to pick on on that such in that right so it turns out the key management so we are we'll just stop that research hold on it at the moment so we haven't actually defined anything so we are seriously considering different options right now we are looking at various different implementations as well as looking at a more traditional approach this our company is actually being many management systems enterprises as possibly we are looking at both the traditional and trying to think of ways that you know you can find a middle point between the very experienced and survived ideas which probably happened in animal and more traditional operations exposure we have a key management plan so we're looking at having a central role that many spiders by the same time much delay is fine [Music] that you have to control the whole moment then including a second [Music] last question my name is Oksana and it's my first time here hi everyone I have a background of seven years in data and research and about 10 years in business decision I've made which is a digital healthcare ecosystems I think early version SEO so if you ever have questions about medical data come to me now there's two things that I've tried to pay attention as much as possible taeksoo things that I know this one so any talk about data there's also an issue with not just storing and transmitting data but also with the quality as a grownup so I've heard mobile data we are so filled with on social media for example and what we shared right so it's a huge issue because we lie non-stop we lie about how much we earn we lie about how much we like things we lie about how I feel and so on so that's what I want to know how I deal with fake data and how it flows with the actual real data and the second part data and when I share data I think of machine learning in the eye and I haven't heard that today so from the business perspective you mentioned the ciliary helping companies gather data right but and tell you from experience they don't know what to do with it so maybe for a suggestion maybe using machine learning for a horse or a eye for support and into training that they are correctly can actually make a difference in the long term business - so in terms of the data integrity of that phone because we are building the science in a commission manner where the trust we do not actually look at use cases where users include elevator so it all goes to partners in the ecosystem for example colleges that are you with for some of banks that you so that that is the key key thing so if we try to transport that the medical expiry we entered by them the hospital and the five clinics or the doctors rather than consumers directly putting in information about themselves right so that's one point in terms of the data and analytics we are we are we have considered that they're a little bit in terms of what we envision ba analytics marketplace we want to go to our air companies to come in and do the machine learning models but we want to achieve it in the privacy preserving weight as well right then after they built them on those they can offer it as a service as an assessment service directly on the platform as well right so so for example I come in and I use interesting data on the platform to create a credit scoring algorithm then I offer it directly on the platform where a 3d text comment they know a new FinTech with no no credit scoring algorithm that one can take on to the end actually utilize it on the technology so that's what we hope to kind of get to hopefully in a yes [Music] the integrity so because we the many clients IQs decayed so this stand by separately so we had to and yeah this not focus so focus is to be a vampire [Music] so this is a choice of a better feels right and we choose to play collections the planning side the collections and privacy management so for the AI and the macro research our ecosystem players focus on giving encouragement like jail who has files like AC Nelson Jacob sauce so all these people were Jacob was conceptualized in TV substances this was our partners to actually go through this whole process of our daily news pages I thought I just want to be supportive in my perspective I believe that the only way to ensure that data is correct is fine clear up here Frankie that means when I were to publish my data somebody else will be like kind of a clinical caster so the more of these about my data believes that it is something that it's useful is real they will give me like so by having this peer-to-peer ranking eventually over time will cleanse this data over time but also from from that perspective there is orally I believe that there is an SEO is currently doing this I data the kind of like creating microbots cancer where one two three how people swings yeah and you can create that particular I feel allows you to create that and let hold it out that particular they are model to throw it out to all the consumers and the consumers will do whatever they and the collected data and they come out with that particular then they would just find that [Music] okay hi everybody to get on a bus all this [Applause]