WEBVTT

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<v Speaker 1>Welcome back to the deep Dive. We're here again to

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<v Speaker 1>sift through the information, cut out the noise, and really

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<v Speaker 1>get to the core insights for you. Today we're jumping

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<v Speaker 1>into something pretty significant enterprise blockchain solutions, specifically on AWS.

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<v Speaker 1>And Okay, let's just be clear upfront, this isn't really

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<v Speaker 1>about bitcoin speculation or anything like that. We're looking at

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<v Speaker 1>a much deeper shift, sort of a fundamental change in

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<v Speaker 1>how businesses can operate, how they track things, how they

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<v Speaker 1>well established trust online. Our goal here is to give

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<v Speaker 1>you that clear understanding, that shortcut to knowing what's important

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<v Speaker 1>in this pretty complex area exactly.

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<v Speaker 2>And we've gathered quite a bit articles, white papers, AWS

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<v Speaker 2>docs trying to cover it all, from you know, the

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<v Speaker 2>basic blockchain ideas right through to the specific AWS tools

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<v Speaker 2>and how companies are actually using this stuff. By the end,

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<v Speaker 2>you should have a really solid grasp of why this matters,

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<v Speaker 2>not just for big tech, but potentially well for your

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<v Speaker 2>own context.

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<v Speaker 1>Okay, so let's start right at the beginning the why

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<v Speaker 1>why blockchain? Now, we've had databases and web systems for ages, right,

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<v Speaker 1>what problems are we actually trying to solve here? Well,

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<v Speaker 1>I think the traditional systems web two point zero centralized stuff.

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<v Speaker 1>They have some built in challenges like trust, can you

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<v Speaker 1>always trust the data from single source, especially if they

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<v Speaker 1>control it completely, And tracking things accurately. Think about high

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<v Speaker 1>value goods or a complex supply chain. Knowing exactly where

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<v Speaker 1>something came from it's providence that can be surprisingly hard.

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<v Speaker 1>Or even tracking something simple like a package of food

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<v Speaker 1>that needs to stay cold, getting real time, verifiable data

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<v Speaker 1>on its journey often not possible. And then there's the

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<v Speaker 1>whole issue of middleman. They add costs, they add complexity.

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<v Speaker 1>You hear about, say a coffee farmer getting just pennies

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<v Speaker 1>on the dollar for beans you pay a premium for.

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<v Speaker 1>Blockchain offers a way to tackle that inefficiency, and.

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<v Speaker 2>That's where blockchain kind of steps in. It's fundamentally a

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<v Speaker 2>different model. Think peer to peer network, shared information, secured

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<v Speaker 2>everyone agrees, no central boss. At its heart, it's a

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<v Speaker 2>distributed ledger, it's a mutable meaning tamper proof, it's secured

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<v Speaker 2>using critography, and it's decentralized. Let's maybe unpack those a bit.

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<v Speaker 2>So first up, cryptographically secure transactions get bundled into blocks.

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<v Speaker 2>These blocks are linked chained together using cryptographic hashes like

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<v Speaker 2>SAHA two fifty six is a common one. These hashes

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<v Speaker 2>are incredibly sensitive. Change one tiny bit of data, the

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<v Speaker 2>hash totally changes, so any tampering is instantly obvious. That's

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<v Speaker 2>the chain part. It makes the history secure. Second, and

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<v Speaker 2>this is like a huge deal for trust immutability. Once

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<v Speaker 2>data is written to the blockchain agreed upon, it basically

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<v Speaker 2>can't be changed or deleded. It's a tend only if

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<v Speaker 2>you need to make an update, you don't overwrite the

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<v Speaker 2>old record. You add a new transaction in a new

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<v Speaker 2>block that shows the change. The whole history stays there,

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<v Speaker 2>fully traceable, critical for audits.

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<v Speaker 1>Okay. Wait, so if it's immutable, what if someone makes

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<v Speaker 1>a mistake, is it just stuck there forever wrong? Ah?

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<v Speaker 2>Good question. That's a common point of confusion. Immutable doesn't

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<v Speaker 2>mean you can't correct errors. It just means you can't

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<v Speaker 2>secretly erase them. You simply add a new transaction. That

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<v Speaker 2>six is the mistake. The original incorrect entry is still

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<v Speaker 2>there on the chain, but the history clearly shows it

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<v Speaker 2>was corrected later. No hiding things, got it?

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<v Speaker 1>Okay? Makes sense?

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<v Speaker 2>Then? Third, it's a distributed ledger, unlike your typical company database.

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<v Speaker 2>Stored in one place, the blockchain ledger is copied and

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<v Speaker 2>spread across many computers, many participants, often globally, everyone holds

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<v Speaker 2>an identical synchronized copy. And fourth tied to that is decentralization.

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<v Speaker 2>No single company or person owns or controls the whole network.

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<v Speaker 2>That removes single points of failure, gives control back to

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<v Speaker 2>the participants. And what really kicked things up a notch.

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<v Speaker 2>The second generational blockchain was smart contracts. These are basically

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<v Speaker 2>bits of code programs that live on the blockchain. They

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<v Speaker 2>contain business logic rules and they automatically execute when the

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<v Speaker 2>conditions in the code are met. Think of it like

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<v Speaker 2>a self enforcing digital agreement on ethereum. You'd probably write

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<v Speaker 2>these in solidity on hyper ledger fabric. They call it

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<v Speaker 2>chain code, often written in Go, no JS or Java.

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<v Speaker 2>They automate process is between parties.

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<v Speaker 1>That's a big leap from just signing a paper contract. So, okay,

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<v Speaker 1>how does a transaction actually happen on the network with

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<v Speaker 1>all these pieces?

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<v Speaker 2>Right? So, you want to make a transaction, you create

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<v Speaker 2>it digitally, sign it to prove its yours, and then

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<v Speaker 2>broadcast it to the network. Nodes on the network minors

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<v Speaker 2>in some systems just validating peers and others. They pick

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<v Speaker 2>it up, they check it against the rules, run any

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<v Speaker 2>relevant smart contracts. Once enough of them agree it's valid,

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<v Speaker 2>that's the consensus part. It gets bundled into a new block.

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<v Speaker 2>That block gets added to the chain, and then that

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<v Speaker 2>new chain gets sent out to everybody, so all ledgers

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<v Speaker 2>are updated. It's how they all stay in sync and

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<v Speaker 2>trust the result.

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<v Speaker 1>You mentioned consensus there and earlier things like proof of work.

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<v Speaker 1>Are there different ways they reach that agreement? What are

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<v Speaker 1>the trade offs?

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<v Speaker 2>Yeah? Absolutely, Consensus mechanisms are key. Proof of work powder

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<v Speaker 2>W like bitcorn used involves solving really hard computational puzzles,

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<v Speaker 2>super secure but very energy intensive and slow. Then you

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<v Speaker 2>have proof of steak pos. This is what newer e

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<v Speaker 2>theoryum uses. It's more efficient. Participants lock up cryptos collateral

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<v Speaker 2>sort of like a security deposit to get a chance

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<v Speaker 2>of validate transactions, better performance, less energy, and in many

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<v Speaker 2>private enterprise settings you see proof of authority POA. Here,

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<v Speaker 2>transactions are validated by a set of pre approved trusted authorities.

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<v Speaker 2>Their identity and reputation are of the stake. It's much

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<v Speaker 2>faster because trust is based on identity, but it's more centralized, okay.

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<v Speaker 1>And that distinction seems really important for businesses. The difference

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<v Speaker 1>between say a public blockchain like Bitcoin or the main

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<v Speaker 1>Ethereum network where anyone can join, look at the data,

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<v Speaker 1>submit transactions. But yeah, they can be slow, maybe not

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<v Speaker 1>scalable enough, and privacy is limited. That's often not ideal

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<v Speaker 1>for corporate data, which leads us to private and permission blockchains.

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<v Speaker 1>These are more controlled environments. Only known, authorized participants can join,

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<v Speaker 1>transact and see certain data. This gives businesses the privacy,

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<v Speaker 1>the confidentiality, and often much better performance they need. Hyper

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<v Speaker 1>Ledger fabric, which we'll get to, is a really good

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<v Speaker 1>example here. So when you boil it all down, what

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<v Speaker 1>this really means for you, the listener, is that we're

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<v Speaker 1>moving towards systems where trust isn't just assumed or outsourced

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<v Speaker 1>to an intermediary, it's built right into the digital infrastructure.

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<v Speaker 1>This opens up possibilities for transparency and inefficiency that honestly

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<v Speaker 1>were just really difficult or impossible before. Okay, But if

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<v Speaker 1>blockchain is this powerful, this transformative, why isn't every company

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<v Speaker 1>using it for everything already? What's the hold up? Well?

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<v Speaker 2>A big part of it is complexity historically setting up

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<v Speaker 2>and managing your own blockchain network. It's not trivial. You've

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<v Speaker 2>got hardware provisioning, software installation, managing security certificates, databases, networking scaling.

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<v Speaker 2>It's a lot of manual work, error prone, and it

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<v Speaker 2>takes specialized skills right.

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<v Speaker 1>Sounds like a barrier to entry for many.

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<v Speaker 2>Exactly, and that is where AWS comes into play, aiming

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<v Speaker 2>to simplify that whole process. They've got a suite of services.

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<v Speaker 2>The main one is probably Amazon Managed Blockchain. It's a

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<v Speaker 2>fully managed service. It takes care all at infrastructure, a

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<v Speaker 2>headache setting up nodes, managing certificates, scaling for frameworks like

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<v Speaker 2>hyperl Fabric and also Ethereum, so you get to focus

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<v Speaker 2>on building your actual application, your business logic, not wrestling

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<v Speaker 2>with the underlying plumbing.

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<v Speaker 1>Okay, so it handles the setup and maintenance precisely.

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<v Speaker 2>Then they also have AWS Blockchain templates. These are more

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<v Speaker 2>like quick start guides. They use automation to quickly deploy

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<v Speaker 2>the necessary AWS resources, networks, security groups, compute instances to

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<v Speaker 2>get a private Ethereum or hyper ledguer Fabric network up

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<v Speaker 2>and running fast. A good starting point. And finally, there's

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<v Speaker 2>the AWS Blockchain Partners Network. This is a whole ecosystem

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<v Speaker 2>of consulting firms and tech companies that have expertise using

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<v Speaker 2>AWS to build blockchain solutions, so you can find validated

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<v Speaker 2>solutions or get expert help.

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<v Speaker 1>Interesting, So AWS essentially lowering the barrier. They're providing this

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<v Speaker 1>sort of shortcut for businesses to tap into blockchains benefits

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<v Speaker 1>without getting bogged down and managing the complex infrastructure themselves

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<v Speaker 1>makes it way more accessible. Now let's take into something

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<v Speaker 1>slightly different but related. A key point is it not

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<v Speaker 1>every situation eating an immutable record also needs decentralization across

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<v Speaker 1>multiple organizations. Sometimes you need that tamper proof history but

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<v Speaker 1>within your own organization. And this brings us to Amazon

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<v Speaker 1>Quantum Letter Database or QLDB.

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<v Speaker 2>Yeah. QLDB is fascinating because it solves a very specific

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<v Speaker 2>but very common enterprise need a verifiable, complete and immutable

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<v Speaker 2>log of changes for a centralized system of record. Think

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<v Speaker 2>about a bank's internal transaction history or maybe HR records

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<v Speaker 2>or system locks. They need absolute certainty that the history

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<v Speaker 2>hasn't been tampered with for audits for compliance, but they

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<v Speaker 2>don't need and probably don't want multiple competing banks or

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<v Speaker 2>entities involved in managing that specific internal data. Using a

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<v Speaker 2>full decentralized blockchain for that would just add complexity and

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<v Speaker 2>slow things down unnecessarily.

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<v Speaker 1>So it's like blockchains and mutability, but without the distributed

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<v Speaker 1>network part exactly.

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<v Speaker 2>QLDB is a fully managed centralized database, but it's designed

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<v Speaker 2>as a ledger. It keeps two things, the current state

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<v Speaker 2>of your data like a normal database, and a separate

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<v Speaker 2>append only journal. This journal records every single change, every

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<v Speaker 2>transaction forever, has a cryptographically linked chain of blocks, just

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<v Speaker 2>like a blockchain. This journal is immutable. You can't delete

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<v Speaker 2>from it, you can't modify past entries.

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<v Speaker 1>Wow. So it's like a perfect unchangeable audit trail built

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<v Speaker 1>right in.

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<v Speaker 2>Precisely, and the benefits are significant. It's cryptographically verifiable, you

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<v Speaker 2>can prove the integrity of the history. It's immutable and transparent,

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<v Speaker 2>highly scalable, easy to use, it's serverless, and critically because

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<v Speaker 2>it's centralized, no complex consensus needed, so it offers really

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<v Speaker 2>high performance, much faster than decentralized blockchains. Plus, it supports

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<v Speaker 2>SQL like queries and has ACD properties, which is vital

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<v Speaker 2>for transactional data.

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<v Speaker 1>Can you give us an example of where you'd use QLDB.

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<v Speaker 2>Sure, imagine building that internal banking system for auditing, tracking

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<v Speaker 2>customer accounts, loans, transactions. Auditors need to trust that history

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<v Speaker 2>with QLDB. They can use the journal and something called

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<v Speaker 2>a QLDB digest basically a hash summary of the entire

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<v Speaker 2>history to mathematically verify that no record has been altered, added,

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<v Speaker 2>sneakily or deleted from the history. Complete transparency for auditors.

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<v Speaker 1>Okay, that's a real aha moment for me. QLDV shows

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<v Speaker 1>that blockchain isn't the only answer for immutability. Sometimes a

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<v Speaker 1>centralized verifiable ledger is actually the better fit, giving you

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<v Speaker 1>trust without the overhead of decentralization. It's about picking the

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<v Speaker 1>right tool exactly right.

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<v Speaker 2>Choose the tech that solves the actual problem.

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<v Speaker 1>All right, let's pivot back to the decentralized world, specifically

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<v Speaker 1>to one of the major frameworks AWS supports, one built

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<v Speaker 1>explicitly for enterprise needs, hyper ledger Fabric.

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<v Speaker 2>Yes, hyper ledger Fabric is definitely a key player in

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<v Speaker 2>the enterprise space. It's open source, hosted by the Lenux Foundation,

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<v Speaker 2>and crucially, it's a permissioned framework. This means it's designed

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<v Speaker 2>for known participants. You need a verified identity, usually via

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<v Speaker 2>a certificate authority to even join the network. That gives

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<v Speaker 2>businesses the control they need over who.

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<v Speaker 1>Participates, control and privacy, I imagine absolutely.

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<v Speaker 2>Fabric has a powerful feature called channels. These allow you

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<v Speaker 2>to create private subnetworks within the main blockchain network. So

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<v Speaker 2>let's say you're collaborating with two different suppliers on the

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<v Speaker 2>same blockchain. You can have a private channel with supplier

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<v Speaker 2>A and a separate private channel with supplier B. They

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<v Speaker 2>only see the transactions and data relevant to their channel,

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<v Speaker 2>ensuring privacy and confidentiality even among competitors on the same network.

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<v Speaker 1>That sounds incredibly useful for business consortia it is.

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<v Speaker 2>Fabric also has a modular architecture. You can plug in

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<v Speaker 2>different components for things like consensus, identity management, etc. It's flexible.

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<v Speaker 2>It's also known for high transaction throughput and performance, partly

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<v Speaker 2>because it separates different feeses of the transaction process and

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<v Speaker 2>a big plus for developers. You write the smart contracts

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<v Speaker 2>the chain code in common general purpose languages like Java,

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<v Speaker 2>Go or no JS. No need to learn a niche

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<v Speaker 2>blockchain language.

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<v Speaker 1>And the killer future for many businesses, probably.

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<v Speaker 2>That it requires no cryptocurrency. Unlike public chains like Bitcoin

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<v Speaker 2>or Ethereum, where you need native crypto for fees or incentives,

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<v Speaker 2>fabric networks operate without one. This removed a huge layer

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<v Speaker 2>of complexity, volatility, and regulatory concern for many enterprises. The

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<v Speaker 2>basic flow is a client application sends a transaction proposal.

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<v Speaker 2>Certain pre defined peers called endorsing peers, check it and

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<v Speaker 2>simulate the chain code. If it's valid, they endorse it.

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<v Speaker 2>The endorsed transaction then goes to an ordering service, which

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<v Speaker 2>sequences transactions into blocks. These blocks are then sent to

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<v Speaker 2>all the committing peers, who validate them again and finally

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<v Speaker 2>write them to their copy of the ledger.

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<v Speaker 1>Okay, let's make this concrete a use case. How about

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<v Speaker 1>the healthcare supply chain that seems complex and high stakes.

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<v Speaker 2>Perfect example, think about pharmaceuticals or medical devices. You have manufacturers, distributors, hospitals, pharmacies,

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<v Speaker 2>a complex web. Current challenges are huge verifying everyone's identity KYC,

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<v Speaker 2>tracking the exact origin and handling of sensitive products, provenance,

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<v Speaker 2>loads of paperwork, ownership disputes if something goes wrong, high costs,

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<v Speaker 2>and sadly, the risk of counterfeit drugs entering the chain.

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<v Speaker 1>How does Fabric help there.

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<v Speaker 2>Well, it provides that end to end traceability. Every movement,

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<v Speaker 2>every handover can be recorded immutably. Auditing becomes much simpler

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<v Speaker 2>and more reliable. Smart contracts can automate agreements like payment,

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<v Speaker 2>release upon verified delivery and temperature checks. Consensus builds trust

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<v Speaker 2>between all parties. The permission nature and channels provide the

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<v Speaker 2>necessary privacy for sensitive health data. It offers security and

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<v Speaker 2>decentralization where needed, and you can easily onboard new participants

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<v Speaker 2>like a new distributor, giving them access to the relevant

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<v Speaker 2>parts of the shared trusted ledger.

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<v Speaker 1>Yeah, you can really see how Fabric specific features address

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<v Speaker 1>those real world enterprise pain points, control, privacy, performance, no

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<v Speaker 1>crypto needed, It's about building efficient trusted business networks. Okay,

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<v Speaker 1>shifting gears one last time to the other major framework,

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<v Speaker 1>AWS supports the one often called the World Computer.

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<v Speaker 2>Right Ethereum. While Fabric is very enterprise focused, Ethereum started

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<v Speaker 2>with a broader vision, a general purpose platform for decentralized

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<v Speaker 2>applications or DAPs. It aimed to go way beyond Bitcoin's

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<v Speaker 2>financial focus. Key to Ethereum is the Ethereum Virtual machine

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<v Speaker 2>or EVM. Think of it as a global processor for

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<v Speaker 2>the Ethereum network. It runs the smart contract code and

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<v Speaker 2>ensures every node on the network calculates the same result

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<v Speaker 2>for every transaction, maintaining a consistent state, and.

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<v Speaker 1>It uses accounts similar to banks sort of.

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<v Speaker 2>There are two main types. Externally owned accounts eoas are

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<v Speaker 2>what users like you and me would have, controlled by

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<v Speaker 2>private keys. Then there are contract accounts, which are actually

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<v Speaker 2>controlled by the code of a smart contract itself. To

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<v Speaker 2>do anything on Ethereum, send funds. Run a contract, you

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<v Speaker 2>need ether ether, which is the network's cryptocurrency. You use

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<v Speaker 2>the Ether to pay for gas. Gas is an a

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<v Speaker 2>currency itself. It's a unit measuring the computational work needed

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<v Speaker 2>for a transaction or contract execution. More complex operations cost

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<v Speaker 2>more gas.

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<v Speaker 1>And the smart contracts themselves still send.

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<v Speaker 2>They're those self executing programs on Ethereum. They're primarily written

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<v Speaker 2>in a language called Solidity, then compiled down to bytecode

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<v Speaker 2>that the EVM can understand. Developers often use tools like

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<v Speaker 2>the remix online ide to write and test them. Now.

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<v Speaker 1>Ethereum is known for its big public network main net,

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<v Speaker 1>but are there other options?

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<v Speaker 2>Yes, there are several test nets like Cipolia or gorely currently,

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<v Speaker 2>which are public testing grounds where developers can deploy and

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<v Speaker 2>test apps without spending real ether. And importantly, for some

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<v Speaker 2>enterprise uses, you can absolutely create private and permissioned Ethereum networks.

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<v Speaker 2>These give you a controlled environment, but still let you

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<v Speaker 2>leverage Ethereum's powerful smart contract engine and tooling aws, for instance,

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<v Speaker 2>makes it easy to spin these up.

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<v Speaker 1>Okay, let's ground this with an example. How about asset tracking,

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<v Speaker 1>but maybe using Ethereum this time.

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<v Speaker 2>Sure, Let's take vehicle tracking cars moving from manufacturer to

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<v Speaker 2>shipper to dealer to buyer. The same challenges exist verifying parties,

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<v Speaker 2>proving origin, managing agreements, handling ownership transfer, potential damage claims, costs.

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<v Speaker 2>A private Ethereum network could offer similar benefits to fabric

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<v Speaker 2>here traceability, consensus automation via smart contracts. Imagine a digital

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<v Speaker 2>title transferring automatically upon final payment, security decentralization. The smart

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<v Speaker 2>contract could define the vehicle's state, ownership and the rules

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<v Speaker 2>for transferring it. Each step is a transaction recorded on

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<v Speaker 2>the chain. Developers building this might use tools like ganash

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<v Speaker 2>for a local test blockchain, the Truffle suite to manage, compiling, testing,

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<v Speaker 2>and deploying their solidity contracts, and maybe web three, dot

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<v Speaker 2>JS or Ether's js JavaScript libraries to let a web

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<v Speaker 2>application interact with the Ethereum network.

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<v Speaker 1>So wrapping up Ethereum, what's the key takeaway? It feels

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<v Speaker 1>like it offers this really powerful programmable layer for building

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<v Speaker 1>entirely new kinds of applications where trust is inherent baked

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<v Speaker 1>right in.

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<v Speaker 2>That's a good way to put it. It enables decentralized

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<v Speaker 2>applications that can transform processes involving asset ownership, complex multi

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<v Speaker 2>party workflows, supply chains, potentially creating much more direct and

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<v Speaker 2>transparent interactions by minimizing intermediaries.

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<v Speaker 1>Wow, okay, we have covered a lot of ground today,

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<v Speaker 1>from the basic why of blockchain, those core concepts like mutability, consensus,

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<v Speaker 1>smart contracts, then diving into how AWS makes it accessible

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<v Speaker 1>with managed blockchain and templates. We looked at the specific

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<v Speaker 1>case for a centralized ledger with QLDB, the enterprise powerhouse

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<v Speaker 1>hyper Ledger fabric, and finally the decentralized application platform of Ethereum.

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<v Speaker 2>Yeah, it's been quite the journey, and I think the

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<v Speaker 2>main thing that emerges is that these technologies whether it's

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<v Speaker 2>a centralized ledger like QLDB focused on internal auditibility, or

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<v Speaker 2>decentralized network like Fabric or Ethereum built for collaboration cross organizations. Yeah,

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<v Speaker 2>they all offer compelling ways to solve fundamental business problems

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<v Speaker 2>around trust, transparency, and efficiency. They provide tools to build

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<v Speaker 2>systems where you can verify, not just trust.

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<v Speaker 1>That definitely leaves us with something to think about and

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<v Speaker 1>maybe a final question for you listening right now, think

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<v Speaker 1>about your own world, your work, maybe even personal admin.

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<v Speaker 1>Where do you see a process burdened by lack of trust,

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<v Speaker 1>too many intermediaries, or just inefficiency. Where could a verifiable,

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<v Speaker 1>immutable ledger, maybe centralized, maybe decentralized, make a real difference.

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<v Speaker 1>What friction points could be smoothed out, what could be revolutionized?

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<v Speaker 2>Next?

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<v Speaker 1>Lots to consider. Thanks for joining us on this deep dive.

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<v Speaker 1>We'll catch you next time with more insights from the source.