[Enterprise Speech] #DanielPeled #Orbs at #koreablockchainweek2019

[Music] perfect hi everybody it's great to be here my name is Daniel pellet and I'm one of the founders of orbs I'm very happy to be here in Korea in the blockchain week coming from Israel the startup nation it is an honor for me to be here in Korea the blockchain nation orbs has always had a very strong relationship with Korea over the past weekend we were extremely happy to launch orbs centre as part of the crypto community center in Korea which will allow us to improve a relationship with local developers and token holders and businesses a little background on orbs for those of you who are less familiar with the project orbs is a permissionless public blockchain infrastructure for enterprises and real companies the old platform or universe as we like to call it went live about six months ago along with the orbs token we have about sixty people working on the project most of them are developers and we have offices in Tel Aviv so Singapore and San Francisco back in 2018 we received the god Naraku vendor award which is like the Michelin star in the tech world this is great validation for myself the story of our orb started actually goes back to 2014 in 2014 I started my first company peiki peiki was a startup that enabled payments via keyboard in any social network we did really well we grew a business around the world even to some of the largest banks here in Korea such as Shin an HSBC NH Bank and started shouting but then one day on June 2017 Apple decided to suddenly ban our payment application as they were rolling out their payment solution within iMessage in one day our business became uncertain as to how our future would look like and what our business model would be because of a decision made by a centralized platform there was very little we could do to change that but being entrepreneur I can't even describe the level of frustration and helplessness that me and my teammate Peggy felt I learned a lot from this experience and most of all I was constantly thinking about how we can create a more fair internet where the best ideas truly win and where Giants do not abuse their power only for their personal interests in mind blockchain and decentralization were supposed to change everything when we started orbs we really believe that blockchain was going to change everything we believe that the centralized apps adapts we're going to pop up and take the internet by storm we believe that the centralized social network decentralized ubers and Airbnb is we're gonna disrupt the industry and shape a new Internet we believe that the centralization was going to create a world that is more fair more just without the territory and giants that rule according to their perspective and make decision that our based on their own business needs but that did not happen over the past year and a half we mostly saw project getting shut down and projects that raise funds to deliver near the cedra's projects were failing to deliver on the technology and the adoption the only real use cases they actually delivered will cryptocurrencies and blockchain development platforms such as aetherium Z cash etc but let's talk about what did happen to the Internet what happened was that some of these huge companies were so good that were able to eat up the competition think about it Google controlled search mobile videos online advertising and navigation Facebook controlled social media messaging via messenger whatsapp lifestyle and photography and a few other companies like Amazon and Microsoft controlled their domain in our modern life but at what cost trust they make beginning more market share more revenues more users but they are losing the trust of their users which is the worst thing that can happen to a company in the long term for example who here trust Google and Facebook for keeping all the data they have on us which business selling on Amazon trust Amazon's not to start selling their products cheaper and promoting them over their businesses if the codebases himself Amazon is the biggest enemy of every startup but we believe the trust or lack thereof will be the downfall of the empires a winner-takes-all market mentality leads to powerhouses controlling entire ecosystem leading to reduce of competition abuse of power and severe lack of trust depths were supposed to change all of that that was supposed to bring about the web 3.0 where the centralized apps replace existing centralized applications services and web tools but every as we seen gaps didn't manage to live up to their expectation and why is that well there are many reasons the main one in my opinion is that the middleman or the platform if you will have a crucial role in making the services work the Midland act as facilitators it handle regulation combat fraud and invest heavily in innovation technology in putting the quality of service then what can reduce the abuse of power how can we guarantee that these big tech giants do not abuse their power in order to generate more profit how can we go back to the days we'll all cheer for Google's of the world who made our lives so much better how can we really make the internet great again this is our vision and warps to make the Internet great again make tech companies love trust it again a mission is to rebuild trust between companies and their clients we want to restore the balance of trust between companies and their users we want to do so by building a technology that helps companies regain trust of the users and customers blockchain technology can achieve just that by infusing trust into the relationship of companies with their partners clients and regulated trust is earned and today businesses can no longer assume customers will trust them instead trusting intentions orbs creates trust through its publicly verified blockchain technology orbs is designed for businesses looking at trust as a competitive advantage and today internet winner-takes-all landscape competing on trust is necessary for survival let's take Google for example for years they use the motto don't be evil this is a belief they live by in doing business and in building products but Google has been abusing their power just in the last two years the European Commission find Google with almost ten billion in antitrust competitive laws for abusing their power when it comes to search algorithms and the operating system they essentially rank their products higher than their competitors but with blockchain technology Google don't be evil model should be changed to can't be evil if Google uses truly decentralized databases to show us what information they hold on us and show that they delete the data we don't want them to keep Google will be able to reveal trust with its users which is the only way to achieve long-term success so we think that blockchain adoption will happen with the existing mainstream businesses if we take uber and live and grab as an example today they compete on three main verticals the first one is product but as we know it's very easy to copy product and user experience between one each other the second one is market share but then it reaches a certain situation and the third one is on the cost which is usually being delivered down to the bottom but we think this new vertical trust is what will make companies more competitive and help them reach a new market share there's three levels of trust that we see the blockchain can deliver on the data transparency level on the algorithm level and at the top on the governance level if you think about data transparency take doukasen as an example today we upload the signed DocuSign on top of their servers on top of Amazon if we take those agreements of the sign and we upload the hash on to a public blockchain then the agreements are really immutable forever if you think on the algorithm level Google is a great example how they show us the result for the products and the different search if there is an algorithm running behind it in order for them not to abuse it and for people to trust it we need to see how this algorithm run and it needs to run on decentralized infrastructure this is how the data is actually created by algorithms around the world and then the top level is governance or inclusive governance what are the rules and how are they changed if you think about some of the big companies in the world such as uber they have a hundred thousands employees that have zero say over the governance of the application even though their lives are dependent on it with blockchain you can have much more inclusive governance if you think about it these three levels of trust are all around Bitcoin and this is what makes Bitcoin so powerful or the transactions are public and immutable we know they algorithm how it works and how the data is generated and we know the rules 51% attack 21 million bitcoins and that gives the system a lot of trust this is the most important slide that I would like to end with our analysis of the interest of the industry here we see two axes on the right hand side is trust and at the top is market size and we really think the market is currently in a big dichotomy on the right hand side we'll see amazing infrastructure projects such as cosmos polka-dot aetherium and what they're building is a permission aspo blick blockchain for decentralized applications so there's a lot of innovation but very few adoption if you go to the state of the dab website there's about three thousand apps on top of it theorem today but all of them have very little traction or product market fit on the left hand side we see huge platforms such as code or quorum hyper ledger what they're doing they're building a closed permission blockchain for enterprise there we see there is a lot of business there's a lot of deals that are happening but very few innovation in our opinion in closed networks there's nothing a lot that has changed from other databases in the thirty years there's a lot of money to be made in system integration and project delivery but we don't think this is where it's interesting to be and then where we think the blue ocean is actually at the top right headed corner we're building a public permissionless infrastructure which is where the innovation is only a public permission its infrastructure can guarantee the guarantees of trust that I talked about before but we think this public infrastructure should be aimed for the enterprise world and as I explained before we think the enterprise will move in that direction not because of their ideology but because it makes them even more competitive on a last note what gives me the most confidence in knowing that blockchain technology would be adopted is really looking at this room and meeting with the people at the conference people from tech legal economics academia and many other backgrounds that create this amazing technology we're also seeing more and more enterprise companies that are looking how can blockchain can be adopted in their businesses to make them more competitive we have the great honor at orbs to host the mayor of Seoul mr. Park just a few weeks ago and also the chairman of the coast deck in Israel and this gives us great confidence in Korea as a market in the blockchain direction we look forward to meeting everybody here at the orbs booth and we would love to have a deeper conversation thank you Thank You Danielle