USING SMART CONTRACTS TO AUTOMATICALLY COMPENSATE USERS FOR APPLICATION FAILURES

JeanDaniel Bussy, co-founder and CTO at Stacktical, talks about using smart contracts to automatically compensate user for application failures at FIN/SUM, Japan's largest fintech summit.

SPEAKER:

JEAN-DANIEL BUSSY
Co-founder, Stacktical

LOCATION:
Global Business Hub Tokyo, Field
3F, Otemachi Financial City Grand Cube, 1-9-2 Otemachi, Chiyoda-ku, Tokyo

ABOUT EVENT:
FIN/SUM is a fintech summit and conference that connects the global finance and tech industries while promoting disruptive innovation across the globe. It grew to be the largest and most influential fintech summit in Japan and one of the largest in Asia and globally. This 3rd consecutive FIN/SUM is additionally incorporating the second edition of REG/SUM - the regtech summit.

Transcript

1. USING SMART CONTRACTS TO AUTOMATICALLY COMPENSATE USERS FOR APPLICATION FAILURES
2. Stacktical 2 STACKTICAL The first Decentralized Service Level Management platform that automatically compensates for IT downtimes. Who are we? DECENTRALIZED SERVICE LEVEL MANAGEMENT
3. 3 Technology, at your Service.
4. 4 Meet Dominique Cost of the claim > 5€ Total Compensation 2,99€ Downtime 4 days without Internet, she reached her provider A Painful Process Providing proof, long waiting times Not Worth It After a 4 month wait and multiple calls, she gets 2,99€ Dominique went through a 4 day Internet downtime. She had no other option but to contact ISP. After multiple calls, claims, documents sent, she is awarded with a compensation that doesn’t even cover the cost of the whole process.
5. BeMind 5 Stacktical Everyone is losing. Customer Support Legal Overhead & Brand Time Consuming Less Productive Service Providers Customers
6. 6 What if… compensation was automated?
7. 7 An introduction to SLA (Service Level Agreements)
8. Stacktical 8 STACKTICAL They define how reliable a service should be, and ways to settle disputes when agreed service levels are not met. What is an SLA? SERVICE LEVEL AGREEMENT
9. Stacktical 9 SLA Contracts are ubiquitous External SLAs can be applied to - Uptime Commitment & Availability - Performance KPIs - Customer Satisfaction, etc. Internal SLAs could be used for: - Internal Requirements & KPIs - Rewards and Penalties
10. Stacktical 10 Anatomy of an SLA: Cloud Provider Monthly Uptime % Compensation 99,99% - 99,0% 10% < 99% 30%
11. Stacktical 11 Anatomy of an SLA: Chain of Reliability We need a better way to manage the point of failures and and properly insure the critical links.
12. 12 So… how can the Blockchain help?
13. Stacktical 13 Smart Contracts & Dapps A Smart Contract is a piece of Code that is executed in a Blockchain.
14. Stacktical 14 Decentralized SLA: Powered by the Blockchain
15. Stacktical 15 04. Trust Non partisan monitoring of application performance failures, no enforcement middlemen, immutable log of incidents. 05. Transparency Public terms that align consumers expectations with the real performance of the service. 01. Fairness No need to claim compensation, SLA enforcement is event-driven, does not require manual input 02. Inclusiveness SLA are not reserved to businesses and professional customers, any kind of internal and external stakeholders. 03. Accountability Clear responsibilities and guarantees upon service level violations. DSLA- POWERED BY THE BLOCKCHAIN
16. 16 Beyond compensation.
17. Stacktical 17 The real cost of Downtime Fortune 1000 companies pay between $1.25 billion and $2.5 billion in annual unplanned application downtime costs. Cost of Downtime = Deployment Frequency x Change Failure Rate x MTTR x Hourly Cost of Outage
18. Stacktical 18 Our Solution: DSLA extended to Insurance
19. Stacktical helps companies provision and deploy decentralized SLA that reward employees for uptime while compensating customers for downtime.
20. THANK YOU! stacktical.com