Bruce Pon

Yeah.

So, you know, many of the problems that we're looking at today are things that people have just gotten used to as part of the cost of business.

So if you look at any single organization, whether it's a bank, a supply chain company, energy or automotive, one third of the work is on back office reconciliation, figuring out what happened after the fact.

One third of all people.

Now, you can look at it from one perspective of these jobs are really important for the economy, which I do see.

But the other one is this is a lot of this stuff is waste.

And what a blockchain does is it makes it so you have a single data source of truth.

And just like Bitcoin is the single source of truth for where your money is and who owns it, and Ethereum is the single source of truth for how your business logic is running and what state it's in, BigchainDB unlocks this potential where across multiple organizations you can have a single source of truth.

In other words, you don't need reconciliation anymore because the truth and the provenance of the data is perfect.

What happens if you can make it using IoT, blockchain, and artificial intelligence tools?

You can essentially track that product from the beginning, the inception, all the way until it gets to the customer's hands.

And that customer will understand exactly how that product was made.

The regulators will know that it's followed the guidelines.

And the company who sponsors it, like Novartis, will know that if there's a recall or there's a quality issue, they can know exactly where that drug is and get it back.

Exactly.

And you can apply this not just in drugs, but in food, in energy.

Energy is something that nobody sees, but it's a huge, huge market, like oil and gas or even electric.

Your cars, where that hat you're wearing came from, whether it was built in a sweatshop in Bangladesh or in California, this type of stuff.

They could, but the, I mean, just to set that up.

So the crypto stuff, the beauty of a blockchain is perfectly audible.