EXTENT-2019: Building Better Applications: Why Smart Contracts are the Real Innovation Behind Blockchain

Building Better Applications: Why Smart Contracts are the Real Innovation Behind Blockchain
Darko Pilav, Head of Switzerland Office & Senior Product Manager, Enterprise Solutions, Digital Asset

EXTENT-2019
17 September 2019, London

Video: https://youtu.be/o68vUl6JPHI

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Transcript

1. Better Applications, Faster Why Smart Contracts are the Real Innovation Behind Blockchain EXTENT-2019
2. 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
3. Evolution of Asset Digitization 1. Paper 2. Databases 3. Blockchain Record Data processing Decentralization, Mobility
4. • 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
5. Evolution of Asset Digitization 1. Paper 2. Databases 3. Blockchain Record 4. Digital Rights Data processing Decentralization, Mobility Efficient processes
6. 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
7. Business Logic Infrastructure Application Portability
8. DAML: Smart Contracts for Enterprise • A Concise Language for Records and Rights • Clear delineation of Rights gives Flexibility • Maximal Privacy • Explicit Trust • Infrastructure Abstraction
9. Questions