J3 SAY 01 Hervé Hababou + Vidal Chriqui ERC 808 bookings

we can start so first thank you thank you for coming so early in the morning just out of a party we had yesterday night some of you and thank you for everyone who's watching through YouTube or if you're watching a replay this is happening on March 10th and we are at the etherium community conference so I will introduce you protocol the booking token unit protocol that has been submitted as an EIP to the Hyrum github and you will find it under ERC 808 the company we've started to work on this protocol is called 808 labs so getting back there presenting you at the hearing community conference on March 10th the booking token unit protocol my name is ava babu i am the president of 808 labs because this booking Tacony protocol has been presented here as the EIP 808 for being the EOC 808 so just I will introduce myself very quickly my I am a software engineer trained actually from the canal from the place we're here today and but at that time they didn't do much software programming here so we had to be somewhere in a banker with no windows and that was about 20 years ago I founded 808 labs with my partner Vidal was a lot of people know in France for being a enthusiastic speaker and engineer and expert in the Imperium maybe some of you may have seen his web series with teaching for free on the on the theorem technology so I will present to you the issue we've been facing with internet for some time now and how we came up with the idea for this year see 808 so that you understand the context when twenty years ago and more that the internet came it was very much a decentralized network and we expected that because of the nature of the network the nature of the business that will build that will be built upon it will be decentralized that would cut the middleman they will let people interact peer-to-peer okay and we've seen that happening with emails we've seen that happening with a number of systems and protocol but we haven't seen that happening with value we haven't seen that happening with marketplace it's actually the opposite that happened if I look into the transfer of value we've seen pay companies like PayPal if we coming in and if I look into marketplaces what happened is actually no middleman was was taken out there were just new middlemen that actually we're winner-takes-all ended up being very centralized platform so what we saw started with a technology that was supposed to cut the middleman or to decentralize at least to let people run peer-to-peer because we didn't have the blockchain at that time we didn't have a way to make sure that there is trust in a trust rest world then what happened is that most of the value in a number of industries became captured by the those new middleman does the way we call the Internet platforms today yeah and those the internet platform they are very very centralized by the nature of things because of the way we call the network effect and if you're familiar with this the business strategy frameworks you will understand that now today and the service providers the people who actually provide the service who invest in the hardware or invest in the the real-estate those people incur the cost and actually the profits go to the people who own those winner-takes-all centralized platforms yeah this is the situation today in a number of industries okay you can from the cloud from raining clouds from renting hotels from wanting anything you can think of so we looked into that issue and we looked into how the crypto is your policy and in general the blockchain is the opportunity and to break those network effects yeah all to build new network effects based on token Amex based on the if your own platform to really realize the value chain in those markets so I will dig more into the issue of the booking industry the the booking industry is is very interesting because at its core it's very generic the features that you're actually required to book a resource but it each industry or vertical came up of a centralized solution to cover it because they needed to basically reconcile the offer and the demands they they became what we call multi-sided market place I mean they had to both walk on the offer and demand side yeah and that made it very difficult for small players or people that were focused only on one part of the equation to offer the help and to be part of the of the dissolution so what we think is the solution is to look at it from a protocol level yeah to look at a decentralized booking protocol that's mainly initially b2b obviously if you guys know how to use a wallet that runs that called smart contracts cut that but it's mainly a bit to be protocol so that everyone can benefits it's being standardized as ERC 808 so you can go on the github of the theorem foundation and look up for 808 involves a token smart token and a data model that enables the booking process but in a very generic way we are not building anything specific to any vertical to any industry okay and obviously the smart contracts there to make sure that the people in the decentralized booking using the decentralized booking protocol I behaving properly so you want a smart contract to embed the rules about deposits and about rewards you want to make sure that if people if parties to the decentralized booking protocol obviously if they don't trust each other they need to have reasons to trust each other so you need to penalize bad behavior and you need to reward good behavior so bad behavior would be to book your resource and not not pay for it or no you not cancel it on on time that would be bad behavior okay you need to penalize that good behavior would be actually to find a customer or to find someone to use that resource and to send that customer over to the people who own that resource and all who manage that resource and these people too and this behavior needs to be rewarded so this is what you will find and we'll talk about it later on in the protocol specifications okay so digging in into the step process you will find the schema in the github as well let's just know the on the left side you've got a resource provider can be anything any type of resource for I will just take an example that's not there I want a I'm a provider of GPUs and I want to sell those GPUs to the machine learning community okay so I have GPUs available when they are not mining if either and and and I'm a provider of this resource so I'm using the SDK that we are providing and I'm publishing the availability of these resources onto infrastructure that is both unchaining off chain for scalability reasons over time then we hope that more and more will be on chain obviously and on the other side I have the people who end up needing those resources so I may have a application that's D up decent rails application I may have an internet platform there I may have a software company they're actually providing these resources to their own customer so it could be a AI software company with that collects data at its customers and they need at some point to arrange those GPUs yeah that but before they rents it it needs to book it to get the cheaper price so that they are no just GPUs run for nothing yeah so what will happen is obviously the Booker the guy who's have this who needs the to book the resource will just use the protocol to make this signaling so it will request the resource the resource provider will need to approve it okay they will exchange tokens within the protocol to make sure that we can penalize and reward good and bad behaviors and they will end up booking the resource and this is the booking protocol so we are not involved with paying we're not paying paying can be done in theater can be can be done inside in euros or USD we're just walking on a booking protocol yeah so we're focusing on this particular that then can be leveraged by any industry we are fully open source the specification of the protocol has been published as I said is er C 808 we are going to release over time reference implementations plug-ins for the people who run internet website plug-ins for the people who runs specific software SDK for various software languages so that we can have software company they already are dealing with a specific industry and typically if there are resource enterprise resource planning type software they will be able to integrate with the theorem blockchain without knowing much about the intricacies of working with solidity or things like this so we will provide all these resources for free there will be totally open source totally accessible and if you guys want to contribute to it then you're welcome to do so you can contribute to the protocol and you can also contribute to the reference implementations yeah if you know and have friends in the developer community at software companies that want to integrate the protocol inside their software if there is a software that's for local government we've been speaking with people like that the in local government they want to make sure that the the resource I published and there is a highest use of their resource and they have specific software companies that unfortunately are not very capable on the blockchain because the resources are scarce then they can use the plugins that we provide well I won't go too much in this conference and the the business side of things just to give you again the information that is a technical protocol at a business process layer but it can be leveraged by anyone yeah and this may be a list of things that we thought about and I may end up being used elsewhere okay actually one of the guys said well we could use the booking protocol to book choken sales so that could be definitely applicable to the things we're seeing today but could be used to book a car repair it could be used in the advertising business it could be used to reward people that are sending referring business to other okay so if you're referring a customer to resource provider this could be a way also to incentivize it yeah so it's as well as as well focused on the booking it also embeds all the right rules to reward good behavior as I said previously so I'll just let you imagine what you can do with it we welcome anyone wants to contribute in a particular vertical I will offer the the software for free obviously to anyone who wants to build a specific vertical application to showcase we organize a curtain two weeks ago and we got various various ideas came in and a lot of developers we had more than 50 people working on the protocol started developing their own application based on the protocol okay so I won't go too much into the benefits I think it's quite clear if we're providing all this software and all the protocol then we're lowering the the operational cost and we make it more profitable for the industry at large they will need to less to spend less probably in the end in specific verticals in marketing just pick and it will be more open okay just think about it if the availability book is is decentralized if that's an luck chain that's more open that lets more people get in and and and and and they will spend less to cater to their customers okay okay so I I took a concrete example a few minutes ago about you know booking GPU resources you could at any any example of booking any type of resource I just took an example here does more that everyone can understand so that you know if someone is watching on YouTube and is not a software engineer it will talk to him so if I look into the hotel booking business everyone knows about hotels we've all used hotels we've all used those web sites or centralized platform just to give you an idea the the two monopolies OTA the online travel agents that are that that we know they getting about ninety percent of the market so they are very centralized it's a good example of an industry has been very very centralized thanks to the Internet network effects well obviously governments or the lobby they've tried to break that okay they've made special laws especially in Europe try to break that you didn't walk because this doesn't make any sense because the you as a consumer you want to go on the website that has the greatest number of hotels and hotels they want to go on the website that has the greatest number of consumers okay and they don't share the inventory of course they don't share consumers and they don't share the inventory yeah so this can be broken into already and we can solve this solution with a theorem we could solve this solution with a booking protocol death only if it is decentralized yeah so I won't go into the details just to give you an idea of the money that's in there they're spending like eight billion dollars in marketing there they're just the most profitable companies among the most profitable companies in the in the industry they make more money than typical people who actually own build and operate the hotels yeah so if you look at the decentralized approach and how this problem could be solved using a booking protocol the hotels are already using software they're already using property management software they already using what we call channel management services so they're already publishing the availability to these OTS so we were just telling them we're providing you the SDK and the protocol it's all free it's open go and publish the same availabilities onto the blockchain yeah and on the other side we're saying to anyone anyone who can use a wallet maybe or anyone who's a bit more sophisticated and wants to cut her to his own consumer you can use the same SDK you can use reference implementation you can build your website and you will have access to the same inventory you're going to be playing on the same playing field so you will be able to bundle services so this is quite innovative and that means also that people are sharing this information and making use of it it's much more powerful and because it's all based on the same technical protocol that is totally industry agnostic it doesn't matter if you're booking a hotel you can even bundle services with the exact same protocol okay you can book hotel you can book the flight you can look everything comes of it you can book this conference with the same protocol so you can have much better much more innovative UX and everything everything can be in your in your mobile phone it just depends on the software developer to invent the applications yeah so just five minutes to let you know that you can look into the EIP submission on the github yeah you will find exactly this there you all some the the abstract where we explain what I did shortly explain to you you will find the actual ERC specification and we will release soon the reference implementations yeah so difficult to read but well they are smart contracts basically implementing the the protocol okay just I think I won't go in the details because that's not really the purpose yeah so I guess you said you have a few more minutes you want me to take questions to questions all right as I was freelancing at low-cost holidays and watched what happened to the company when booking.com took aim at them and it was they just had no idea why suddenly their bookings fell off so it was pretty incredible to just see the CEO just destroy another company with pricing I'm just curious whether with the open network you can imagine the incentives realigning a little bit to help the hotel owners or to kind of not smash their margins so much and whether because it's run an open network it prevents some kind of monopolistic behavior like they were doing yeah I'm just really curious yeah well obviously it's a technical protocol so we just took the hotel industry as an example we are not ourselves aiming at disrupting in that vertical we're aiming aiming that developers will do it for us so you if you have experience in that industry then you're welcome to work with us on the protocol you know I will answer your question on a business strategy because it's I think it's similar to our industries I think the level of margins that have been taken by those platforms is only due to the market power that they have because they have this market power because they centralize because they have 90 percent this is even worse than banks this is in some countries banks have lower market share than that like to to parties there they have 90 percent market share so they can do whatever they want they have the market power and they can get 25 30 percent commission without doing much than just taking an XML file in and just building a JavaScript website out okay so if you design tries you give more power to the next walk then obviously over time you can expect things to balance yeah and this this this will be the logical next step obviously if there is only one guy who's using the protocol and there are two consumers using it won't happen overnight but over time yes you can expect things to rebalance thank you anyone else I'm glad I was soaked here well if you need more information you can contact us on the btu protocol comm website I invite you again to check ELC 808 to contribute to it when the reference implementation is published I invite you to also comment on it and the more developers are looking at it and the better for everyone and for if your own community as well thank you very much