Better Applications, Faster Why Smart Contracts are the Real Innovation Behind Blockchain EXTENT-2019

About Digital Asset ● Creators of DAML, the platform-independent, open source smart contract language built for distributed ledgers, useable with traditional databases ● Serving innovative brand-name clients and partners, such as, ○ ASX ○ HKEX ○ Broadridge ○ UBS ○ Change Healthcare ○ ISDA

Evolution of Asset Digitization 1. Paper 2. Databases 3. Blockchain Record Data processing Decentralization, Mobility

● Stored data has largely remained the same ➢ Mapping from asset to owner ● Ownership is defined through rights ➢ E.g. Right to transfer, to vote, to receive dividend, … ● Make rights explicit and transparent ● Stored data has largely remained the same ➢ Mapping from asset to owner ● Ownership is defined through rights ➢ E.g. Right to transfer, to vote, to receive dividend, … Record/Token ≠ Ownership ● Stored data has largely remained the same ➢ Mapping from asset to owner

Evolution of Asset Digitization 1. Paper 2. Databases 3. Blockchain Record 4. Digital Rights Data processing Decentralization, Mobility Efficient processes

Code ≠ Law Contracts are not as rigid as people believe ➢ No inevitable execution ➢ Parties involved can mutually agree to change/supersede/nullify existing contracts ➢ Enforcement through laws and regulatory bodies Smart Contracts do not replace trust but make it explicit

Business Logic Infrastructure Application Portability

DAML: Smart Contracts for Enterprise ● A Concise Language for Records and Rights ● Clear delineation of Rights gives Flexibility ● Maximal Privacy ● Explicit Trust ● Infrastructure Abstraction

Questions