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
   

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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
   

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

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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
   

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

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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
   

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7. Business Logic
   Infrastructure
   Application Portability
   

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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
   

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9. Questions
   

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