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Blockchains & Ecosystem ApplicationsThe Future of Process Management
Casey KuhlmanCEO, Monax
Before there was process automation there were just processes
Then smart people invented computers to automate drudgery
Computers + Business Processes => 1st Generation of Process Automation
Processes + SME’s => 2nd Generation of Process Automation
Interest in Blockchains => 3rd Generation of Process Automation
Labor Costs of processesBefore automation
Organization
Supplier
Services Provider Customer
Regulator
Supplier
Organization
Services Provider
Regulator
Customer
The Costs Are At the Edges (the Interfaces)
Labor Costs of processesAFTER Generation 1&2
Supplier
Organization
Services Provider
Regulator
Customer
Coordination + Reconciliation Efforts
Labor Costs of processesAFTER Generation 1&2
Data Redundancies
Ecosystem Applications allow moving costs and complexity from the edges ...
Producer
Financial Services
Risk Services
Wholesaler
After MktIOT
Sensors
TransporterRetailer
… to a shared blockchain infrastructure that automates processes at a value chain level
Producer
Financial Services
Risk Services
After MktIOT
Sensors
Wholesaler
TransporterRetailer
Title Transfer
RulesTitle Registry
Payments Rules
Possession Transfer
Rules
What are Ecosystem Applications?
Applications that run on an ecosystem (or, network) level
Events Processing Content Messages
Traditional Apps Database Ecosystem Apps Blockchains
Traditional Apps Programs
Ecosystem Apps Smart Contracts
Traditional Apps File Systems
Ecosystem Apps Data Lakes
Traditional Apps API Calls
Ecosystem Apps Point-to-Point Messaging
Blockchains => an immutable record of attributable actions visible to every node on the network; or, every participant in the ecosystem.
Smart contracts => programs which provide deterministic computation and verified outcomes by every participant in the ecosystem.
Blockchains and smart contracts in 30 seconds.
● Distributed, immutable ledger○ Data certainty○ Real-time reconciliation
● Cryptographically verified activity○ Continuous, self-managing audits for all events
● Ability to execute cryptographically secure logic○ Smart Contracts -> process certainty
What can blockchains do?
● Get queried (they’re ledgers, not databases)○ Lots of workarounds though.○ Many startups working to solve this.
● Provide Me-to-You Privacy○ Blockchains are transparency machines.○ There are workarounds.○ Typically better to use a strengthened p2p messaging layer instead.
What can blockchains not do (currently)?
● Blockchain architecture provides cryptographic data certainty as to who took what action and when
○ Example: Bag A was checked in by Passenger Z
● Smart contracts provide cryptographically secure computation and logic verified by all ecosystem participants
○ Example: Did the Drone properly register to be in this airspace at this time?
● Open source systems have more potential for global network interoperability○ Lower Cost○ Global Availability
Why are blockchain & smart contracts important?
Ecosystem Applications v. Traditional Applications
Assumed to be operated by a single company
Infrastructure Assumed to be operated by many companies
Password-based logins (typically)Authentication Public-private cryptographic keys
RecordsData Focus Events
Traditional Applications Ecosystem Applications
What Ecosystem Applications are Being Built?
Industrial Applications
Insurance Real-time policy coverage AI enabled risk securitization
Energy IoT enabled supply chain tracking Smart grids
Banking Debt origination & servicing Trade finance
Governance Applications
International Aid Grant management Administration of public benefits Public goods Airspace auctioning Clinical research/open science
Open Data Publications transparency Budget transparency
New Applications
Transparent data-driven relationships Distributed employment/micro tasking Community based lending mechanisms
Scalable data-driven relationships Information age guilds Distributed companies
Single source of truth P2P on-demand platforms Education certification schemes
Risk Services
Aviation Authorities
Drone Manufact
Airports
Drone Operators
Drone RegistryAirspace
Rules
Drones Registry Ecosystem Application
Flight PlanRules
Ground Handling
Companies
Financial Services
Risk Services
IOT Sensors
Airports Airlines
Baggage Registry
Payments Rules
Possession Transfer
Rules
Baggage Tracking Ecosystem Application
Producer
Financial Services
Risk Services
IOT Sensors
Distributer
TransporterAirlines
Title Transfer
RulesParts Registry
Payments Rules
Possession Transfer
Rules
Airplane Spare Parts Ecosystem Application
Current market conditions require high coordination costs for enterprises
Increasingly Inter-Connected
Highly Regulated
Nimble Competitors
More humans at the edges increasing costs
Compliance costs rising
Defend old lines of business or transform
Business Environment... Business Challenge...
Process assurancesacross organizations
Data assurancesacross organizations
New opportunities to create value
Business Need...
Ecosystem applications reduce coordination costs
Smart contracts provide process assurance
across organizations
Blockchains provide data assurance across organizations
Ecosystem Applicationsprovide mechanisms for collaborative creation
Business Need... Technical Promise...
15% of banks planning to have production
deployments by 2017
In capital markets alone deployments could save up
to $20 billion a year
Complete transformation of numerous industries such as the $6-8 trillion global
trade finance market
Business Result...
Process assurancesacross organizations
Data assurancesacross organizations
New opportunities to create value
Where were the Enterprise Keystone Species in 2014?
Heard Tell Of
Exploring the Terraintypically competitors as
peers focussed
Digging Burrowsfinding business value
in ecosystem approaches
Thrivingdelivering value to their
ecosystem
CIBs RetailBanks
Where are the Enterprise Keystone Species in 2016?
Heard Tell Of
Exploring the Terraintypically competitors as
peers focussed
Digging Burrowsfinding business value
in ecosystem approaches
Thrivingdelivering value to their
ecosystem
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Airlines Retail Health
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Health
CIBs ReInsurance
Energy
Where are the Enterprise Keystone Species in 2018?
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Airline Retail Health
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Airlines Retail Health
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Health
CIBs ReInsurance
Heard Tell Of
Exploring the Terraintypically competitors as
peers focussed
Digging Burrowsfinding business value
in ecosystem approaches
Thrivingdelivering value to their
ecosystem
Where are the Enterprise Keystone Species in 2020?
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Airlines Retail Health
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Airlines Retail Health
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Airlines Retail Health
CIBs RetailBanks
ReInsurance
PrimaryInsurance
Consumer GoodsManu
Energy Airline Health
Heard Tell Of
Exploring the Terraintypically competitors as
peers focussed
Digging Burrowsfinding business value
in ecosystem approaches
Thrivingdelivering value to their
ecosystem
https://monax.io
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