today I wanted to talk about technology but at the same time I also want to show
but at the same time I also want to show
but at the same time I also want to show what the konnex is with the human factor
what the konnex is with the human factor
what the konnex is with the human factor and when we talk about technology when
and when we talk about technology when
and when we talk about technology when we talk about the human factor there’s
we talk about the human factor there’s
we talk about the human factor there’s always a little bit of a disconnect
always a little bit of a disconnect
always a little bit of a disconnect today when I talk about business
today when I talk about business
today when I talk about business transparency I want to also show you
transparency I want to also show you
transparency I want to also show you what technology can do to increase
what technology can do to increase
what technology can do to increase business transparency to bring trust
business transparency to bring trust
business transparency to bring trust back into a system that might have gone
back into a system that might have gone
back into a system that might have gone arrey let me step back real quick and
arrey let me step back real quick and
arrey let me step back real quick and and also experiment
and also experiment
and also experiment what is blockchain or what is what we
what is blockchain or what is what we
what is blockchain or what is what we call outside of cryptocurrencies a
call outside of cryptocurrencies a
call outside of cryptocurrencies a distributed ledger technology if you
distributed ledger technology if you
distributed ledger technology if you think about the way our banking system
think about the way our banking system
think about the way our banking system is or financial systems are then we have
is or financial systems are then we have
is or financial systems are then we have a centralized system you give money to
a centralized system you give money to
a centralized system you give money to somebody for service but in the back end
somebody for service but in the back end
somebody for service but in the back end you actually have a lot of
you actually have a lot of
you actually have a lot of intermediaries another person Bank and
intermediaries another person Bank and
intermediaries another person Bank and then ending of course in the central
then ending of course in the central
then ending of course in the central bank that again is connected to all
bank that again is connected to all
bank that again is connected to all kinds of other banks in a decentralized
kinds of other banks in a decentralized
kinds of other banks in a decentralized system you have this premier primarily
system you have this premier primarily
system you have this premier primarily like the internet you have a lot of
like the internet you have a lot of
like the internet you have a lot of people a lot of entities a lot of
people a lot of entities a lot of
people a lot of entities a lot of systems talking to one another
systems talking to one another
systems talking to one another connecting to or one another but you
connecting to or one another but you
connecting to or one another but you know in a more decentralized step and
know in a more decentralized step and
know in a more decentralized step and when we talk about distributed ledger
when we talk about distributed ledger
when we talk about distributed ledger technology or blockchain is fully
technology or blockchain is fully
technology or blockchain is fully distributed distributed means
distributed distributed means
distributed distributed means peer-to-peer person-to-person
peer-to-peer person-to-person
peer-to-peer person-to-person machine-to-machine no central hub where
machine-to-machine no central hub where
machine-to-machine no central hub where the information is passed through but
the information is passed through but
the information is passed through but many many many nodes that the SIS the
many many many nodes that the SIS the
many many many nodes that the SIS the information can pass through through
information can pass through through
information can pass through through distributed technology and distributed
distributed technology and distributed
distributed technology and distributed Ledger’s is one very very key thing that
Ledger’s is one very very key thing that
Ledger’s is one very very key thing that we can actually add to the Internet so
we can actually add to the Internet so
we can actually add to the Internet so the past 25 years the Internet has of
the past 25 years the Internet has of
the past 25 years the Internet has of course grown mobile techno
course grown mobile techno
course grown mobile techno as your mobile internet has grown but
as your mobile internet has grown but
as your mobile internet has grown but there is still one factor that is
there is still one factor that is
there is still one factor that is missing and that is the identity right
missing and that is the identity right
missing and that is the identity right who is actually on the other side what
who is actually on the other side what
who is actually on the other side what can we actually trust this information
can we actually trust this information
can we actually trust this information how do we transfer value value between
how do we transfer value value between
how do we transfer value value between people value between different
people value between different
people value between different businesses and at the same time find out
businesses and at the same time find out
businesses and at the same time find out you know who is it
you know who is it
you know who is it and through distributed ledger
and through distributed ledger
and through distributed ledger technology we have the possibility to
technology we have the possibility to
technology we have the possibility to not only create a transparent system but
not only create a transparent system but
not only create a transparent system but also a mutable system one that cannot be
also a mutable system one that cannot be
also a mutable system one that cannot be changed a list that cannot be changed
changed a list that cannot be changed
changed a list that cannot be changed but everybody has access to that same
but everybody has access to that same
but everybody has access to that same list and the system that is autonomous
list and the system that is autonomous
list and the system that is autonomous so there there is not one central system
so there there is not one central system
so there there is not one central system that controls it everybody that is part
that controls it everybody that is part
that controls it everybody that is part of the system is playing an important
of the system is playing an important
of the system is playing an important role in controlling the system today we
role in controlling the system today we
role in controlling the system today we hear a lot about cryptocurrency a lot
hear a lot about cryptocurrency a lot
hear a lot about cryptocurrency a lot about blockchain and there’s a hype
about blockchain and there’s a hype
about blockchain and there’s a hype there’s a lot of money going into the
there’s a lot of money going into the
there’s a lot of money going into the sector right now it’s over a billion
sector right now it’s over a billion
sector right now it’s over a billion euros going in and there’s going to be
euros going in and there’s going to be
euros going in and there’s going to be another billion euros going into the
another billion euros going into the
another billion euros going into the funding of by corporations or startups
funding of by corporations or startups
funding of by corporations or startups when it comes to blockchain and digital
when it comes to blockchain and digital
when it comes to blockchain and digital ledger technologists really ledger
ledger technologists really ledger
ledger technologists really ledger technology and one of the interesting
technology and one of the interesting
technology and one of the interesting things that we’ve also seen over the
things that we’ve also seen over the
things that we’ve also seen over the past twelve months is that there’s more
past twelve months is that there’s more
past twelve months is that there’s more than 20 governments the government’s
than 20 governments the government’s
than 20 governments the government’s themselves investing in distributed
themselves investing in distributed
themselves investing in distributed ledger technology and the question is
ledger technology and the question is
ledger technology and the question is why would governments actually play a
why would governments actually play a
why would governments actually play a role well if you go back to the internet
role well if you go back to the internet
role well if you go back to the internet government played in a essential role in
government played in a essential role in
government played in a essential role in creating the the distributed system
creating the the distributed system
creating the the distributed system right and the technology behind it and
right and the technology behind it and
right and the technology behind it and when we look at today distribute ledger
when we look at today distribute ledger
when we look at today distribute ledger technology or DLT there’s one key thing
technology or DLT there’s one key thing
technology or DLT there’s one key thing that governments can actually gain and
that governments can actually gain and
that governments can actually gain and that is efficiency in the administration
that is efficiency in the administration
that is efficiency in the administration and also transparency of that
and also transparency of that
and also transparency of that administration what we’ll see there’s a
administration what we’ll see there’s a
administration what we’ll see there’s a lot of opportunities right but it will –
lot of opportunities right but it will –
lot of opportunities right but it will – distributed ledger technology and adding
distributed ledger technology and adding
distributed ledger technology and adding this on to our digital world and also
this on to our digital world and also
this on to our digital world and also the systems that are connected the way
the systems that are connected the way
the systems that are connected the way we’re connected will fundamentally
we’re connected will fundamentally
we’re connected will fundamentally change how we can actually deploy
change how we can actually deploy
change how we can actually deploy technology and most likely you are not
technology and most likely you are not
technology and most likely you are not going to even see it you’re not going to
going to even see it you’re not going to
going to even see it you’re not going to see the technology it’s going to be
see the technology it’s going to be
see the technology it’s going to be Universal as universal as the mobile
Universal as universal as the mobile
Universal as universal as the mobile phone that you have in your pocket or in
phone that you have in your pocket or in
phone that you have in your pocket or in your in your bag right now when we look
your in your bag right now when we look
your in your bag right now when we look at the transaction improvements right
at the transaction improvements right
at the transaction improvements right today a lot of things are manual
today a lot of things are manual
today a lot of things are manual checking on who you’re working with
checking on who you’re working with
checking on who you’re working with who’s your counterparty I myself worked
who’s your counterparty I myself worked
who’s your counterparty I myself worked in more than 40 countries and sometimes
in more than 40 countries and sometimes
in more than 40 countries and sometimes I didn’t even know who the person is
I didn’t even know who the person is
I didn’t even know who the person is sitting across the table
sitting across the table
sitting across the table I couldn’t verify that person I couldn’t
I couldn’t verify that person I couldn’t
I couldn’t verify that person I couldn’t verify the company right there was no
verify the company right there was no
verify the company right there was no transparency it was very very difficult
transparency it was very very difficult
transparency it was very very difficult there was no automated system and this
there was no automated system and this
there was no automated system and this is changing its changing to where we can
is changing its changing to where we can
is changing its changing to where we can make sure that everybody be it
make sure that everybody be it
make sure that everybody be it governments be as large corporations but
governments be as large corporations but
governments be as large corporations but also individuals get the same level of
also individuals get the same level of
also individuals get the same level of access to information about companies
access to information about companies
access to information about companies and most importantly also the people
and most importantly also the people
and most importantly also the people behind these companies there are a lot
behind these companies there are a lot
behind these companies there are a lot of threats of course new technology
of threats of course new technology
of threats of course new technology there’s a as I said there’s a hype cycle
there’s a as I said there’s a hype cycle
there’s a as I said there’s a hype cycle right now right there’s a lot of money
right now right there’s a lot of money
right now right there’s a lot of money going in it’s uncertain some of the
going in it’s uncertain some of the
going in it’s uncertain some of the technologies that we see that are
technologies that we see that are
technologies that we see that are deployed and where there’s a lot of
deployed and where there’s a lot of
deployed and where there’s a lot of investment going in might actually fail
investment going in might actually fail
investment going in might actually fail right and they sometimes also fail
right and they sometimes also fail
right and they sometimes also fail because of the human factor as I
because of the human factor as I
because of the human factor as I mentioned before the human factor that
mentioned before the human factor that
mentioned before the human factor that is forgotten about distributed ledger
is forgotten about distributed ledger
is forgotten about distributed ledger technology itself is not really new
technology itself is not really new
technology itself is not really new there are registers there Digital
there are registers there Digital
there are registers there Digital registers just think of the land
registers just think of the land
registers just think of the land registers right where you actually know
registers right where you actually know
registers right where you actually know who owns what when have there been
who owns what when have there been
who owns what when have there been changes but this is not something that
changes but this is not something that
changes but this is not something that is universal throughout the world is
is universal throughout the world is
is universal throughout the world is something that highly developed
something that highly developed
something that highly developed economies and countries have actually
economies and countries have actually
economies and countries have actually already implemented because they needed
already implemented because they needed
already implemented because they needed a system that allows trust and also the
a system that allows trust and also the
a system that allows trust and also the reliability of information to be
reliability of information to be
reliability of information to be available there’s one example that I
available there’s one example that I
available there’s one example that I would like to share with you a few years
would like to share with you a few years
would like to share with you a few years ago like about two years ago there was a
ago like about two years ago there was a
ago like about two years ago there was a project in Honduras where they had a
project in Honduras where they had a
project in Honduras where they had a massive
massive
massive problem it wasn’t clear who owns which
problem it wasn’t clear who owns which
problem it wasn’t clear who owns which property you couldn’t go and just find
property you couldn’t go and just find
property you couldn’t go and just find out okay this person owns their house
out okay this person owns their house
out okay this person owns their house their little Hut their little their
their little Hut their little their
their little Hut their little their little plot so there was a government
little plot so there was a government
little plot so there was a government initiative a governor government
initiative a governor government
initiative a governor government initiative to bring transparency and to
initiative to bring transparency and to
initiative to bring transparency and to also take a leap forward by using
also take a leap forward by using
also take a leap forward by using distributed ledger technology to make
distributed ledger technology to make
distributed ledger technology to make sure that there is a land register and
sure that there is a land register and
sure that there is a land register and in this land register in this new
in this land register in this new
in this land register in this new project there was the possibility for
project there was the possibility for
project there was the possibility for transparency not only who owned the
transparency not only who owned the
transparency not only who owned the property but also which government
property but also which government
property but also which government official made changes when were their
official made changes when were their
official made changes when were their transactions what are the transactions
transactions what are the transactions
transactions what are the transactions there was a full transparency now I have
there was a full transparency now I have
there was a full transparency now I have a question so now it’s you know going
a question so now it’s you know going
a question so now it’s you know going into the fourth quarter of 2016 so we’re
into the fourth quarter of 2016 so we’re
into the fourth quarter of 2016 so we’re coming to the end of the year about two
coming to the end of the year about two
coming to the end of the year about two years later where do you think that that
years later where do you think that that
years later where do you think that that project stands today anybody it’s dead
project stands today anybody it’s dead
project stands today anybody it’s dead well it actually started but all of a
well it actually started but all of a
well it actually started but all of a sudden there was transparency and it was
sudden there was transparency and it was
sudden there was transparency and it was clear that there was corruption within
clear that there was corruption within
clear that there was corruption within the government be locally etc and they
the government be locally etc and they
the government be locally etc and they pulled the plug on the project it was
pulled the plug on the project it was
pulled the plug on the project it was the human factor that actually stopped
the human factor that actually stopped
the human factor that actually stopped the project not the technology right but
the project not the technology right but
the project not the technology right but the interaction and the human factor and
the interaction and the human factor and
the interaction and the human factor and of course a system that clearly did not
of course a system that clearly did not
of course a system that clearly did not want to take this leap now because all
want to take this leap now because all
want to take this leap now because all of a sudden everybody was on the same
of a sudden everybody was on the same
of a sudden everybody was on the same level of information and there was also
level of information and there was also
level of information and there was also another case about a year ago where the
another case about a year ago where the
another case about a year ago where the idea was that we don’t need government
idea was that we don’t need government
idea was that we don’t need government we don’t need banks we don’t even need
we don’t need banks we don’t even need
we don’t need banks we don’t even need lawyers maybe of a group of people that
lawyers maybe of a group of people that
lawyers maybe of a group of people that put more than a hundred and sixty
put more than a hundred and sixty
put more than a hundred and sixty million dollars a hundred and sixty
million dollars a hundred and sixty
million dollars a hundred and sixty million dollars into a distributed
million dollars into a distributed
million dollars into a distributed autonomous organization dau hub I’m sure
autonomous organization dau hub I’m sure
autonomous organization dau hub I’m sure you’ve heard about it it was created by
you’ve heard about it it was created by
you’ve heard about it it was created by two German guys who wanted to change the
two German guys who wanted to change the
two German guys who wanted to change the way we invest in companies there were
way we invest in companies there were
way we invest in companies there were 10,000 people ten thousand people that
10,000 people ten thousand people that
10,000 people ten thousand people that buy my
buy my
buy my geordie vote could decide that yes we
geordie vote could decide that yes we
geordie vote could decide that yes we want to invest in that startup in that
want to invest in that startup in that
want to invest in that startup in that project and so forth the technology
project and so forth the technology
project and so forth the technology worked fine the funding was there the
worked fine the funding was there the
worked fine the funding was there the money was there but again the human
money was there but again the human
money was there but again the human factor was the biggest problem because
factor was the biggest problem because
factor was the biggest problem because somebody found a way to game the system
somebody found a way to game the system
somebody found a way to game the system and draw 60 million out of the system
and draw 60 million out of the system
and draw 60 million out of the system they didn’t disappear but it was a
they didn’t disappear but it was a
they didn’t disappear but it was a system that was was written by humans
system that was was written by humans
system that was was written by humans obviously and it made totally sense
obviously and it made totally sense
obviously and it made totally sense technically everything worked but the
technically everything worked but the
technically everything worked but the human factor was was not counted into
human factor was was not counted into
human factor was was not counted into the system but the good thing was that
the system but the good thing was that
the system but the good thing was that through the transparency and also
through the transparency and also
through the transparency and also through the technological advance we
through the technological advance we
through the technological advance we could actually then also backtrack what
could actually then also backtrack what
could actually then also backtrack what had happened but here we had a question
had happened but here we had a question
had happened but here we had a question as well on the technology borderless
as well on the technology borderless
as well on the technology borderless list government but who do we actually
list government but who do we actually
list government but who do we actually call when the human factor fails the
call when the human factor fails the
call when the human factor fails the system who’d recall is it a government
system who’d recall is it a government
system who’d recall is it a government is an authority right now the regulation
is an authority right now the regulation
is an authority right now the regulation is one of the limiting factors in
is one of the limiting factors in
is one of the limiting factors in deploying this technology it’s pretty
deploying this technology it’s pretty
deploying this technology it’s pretty much like building a massive out the
much like building a massive out the
much like building a massive out the bond a massive high speeds you know the
bond a massive high speeds you know the
bond a massive high speeds you know the road system but we don’t tell drivers if
road system but we don’t tell drivers if
road system but we don’t tell drivers if they can drive on the left or on the
they can drive on the left or on the
they can drive on the left or on the right and this is where we are we do
right and this is where we are we do
right and this is where we are we do have to look at how do we create an
have to look at how do we create an
have to look at how do we create an environment how do we create a standard
environment how do we create a standard
environment how do we create a standard how do we move this new technology
how do we move this new technology
how do we move this new technology beyond this application stage to be part
beyond this application stage to be part
beyond this application stage to be part of the infrastructure and if it becomes
of the infrastructure and if it becomes
of the infrastructure and if it becomes part of the infrastructure then
part of the infrastructure then
part of the infrastructure then obviously we will not even see it
obviously we will not even see it
obviously we will not even see it because it will be Universal because
because it will be Universal because
because it will be Universal because today I don’t think anybody asks do I
today I don’t think anybody asks do I
today I don’t think anybody asks do I drive on the left or on the right there
drive on the left or on the right there
drive on the left or on the right there is regulation there is a system right
is regulation there is a system right
is regulation there is a system right moving forward and looking at what does
moving forward and looking at what does
moving forward and looking at what does this mean for business transparency well
this mean for business transparency well
this mean for business transparency well we’ve created a system that allows you
we’ve created a system that allows you
we’ve created a system that allows you to address and access company
to address and access company
to address and access company information cross-border is giving
information cross-border is giving
information cross-border is giving everybody the same tools the same power
everybody the same tools the same power
everybody the same tools the same power to identify not only the companies and
to identify not only the companies and
to identify not only the companies and do they exist
do they exist
do they exist but of course also the people behind
but of course also the people behind
but of course also the people behind those companies in order to raise a
those companies in order to raise a
those companies in order to raise a level of transparency that allows us to
level of transparency that allows us to
level of transparency that allows us to build trust back into business and if we
build trust back into business and if we
build trust back into business and if we look at the possibility of technology
look at the possibility of technology
look at the possibility of technology this is going to be very very rapid and
this is going to be very very rapid and
this is going to be very very rapid and we’re also going to be able to restart
we’re also going to be able to restart
we’re also going to be able to restart the way we conduct business and go back
the way we conduct business and go back
the way we conduct business and go back to the roots to what it means to create
to the roots to what it means to create
to the roots to what it means to create a business at the same time offer no
a business at the same time offer no
a business at the same time offer no transparency and I think the technology
transparency and I think the technology
transparency and I think the technology will help us to achieve this very very
will help us to achieve this very very
will help us to achieve this very very quickly thank you very much
”
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