http://BlockchainWeekly.io – Blockchain Weekly: An Interview With With Pete Wassell Founder and CEO of Augmate Connecting Humans with IoTWe’re here to push the ecosystem forward. Our technology removes the traditional barriers of interoperability, time, and adaptability. In doing so, we’re poised to help shape a “Fourth Industrial Revolution” by bridging the gap between inflexible business information systems, wearables and all of IoT through true modularity to streamline supply chain and production processes in an unprecedented way.
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Category
Science & Technology
Originally Recorded March 2018
Transcript
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hey guys Mike we’re all here blockchain
weekly it’s a Wednesday afternoon and
that means we’re doing or wasting
another proof like a good time talking
about all things blockchain I want to
make sure that everyone can hear me it’s
a great week
as far as blockchain is concerned
adoption continues we’re getting to the
point to where I think we’ve probably
pretty near reached the tipping point
there was an article out this week about
the Myriam’s dictionary has added
cryptocurrency and blockchain and ICO to
the Merriam’s dictionary so Wow
I think we’re at the point where we’re
getting mass adoption here but we have
words that we’ve been using for the past
couple of years and kind of secret we
got our our secret handshakes that we do
and and now everything is coming out
into public blockchain weekly we talk
about
once a week we talk about things not
about icos we do would you do talk about
ICO we had a great guest on last week
and talked a lot about icos but this
week we’re going to be talking about
something specific about the Internet of
Things and how they connect with the
distributed ledger which is pretty
interesting the the internet things and
the distributive ledger as it turns out
interface is pretty good and it’s and
it’s interesting Pete will sell of odd
mate is going to be here and we’re going
to have a brief chat about some of that
stuff other things going on in the space
Tim a coin health information exchange
on the blockchain a lot of things
happening in in healthcare electronic
medical records this kind of stuff
that’s starting to heat up the the real
estate niche continues to heat up and
we’ve got a bunch of people that are
talking about doing
doing title on the blockchain which is
an interesting thing in the state of
Arizona a blockchain a contract
signature on a blockchain is legal and
binding so a piece of property can be
transferred ownership to a blockchain to
aid a smart contract so that that kind
of changes that that drastically and in
health and care they’re going with a
blockchain worth a distributed ledger so
that people can see the different
information as they needed from
emergency room or in a doctor’s office
or something like this and still keeping
within HIPAA so that’s that’s really
interesting stuff that’s coming about
I’m looking forward to seeing a lot of
changes and a lot of a lot of great
things that are coming so if harvest as
much as a company I’m working with so if
harvest continues to move forward in
agriculture and doing some interesting
things in agriculture and you know let’s
uh let’s let’s get right on to a to Pete
Mike can you bring Pete up let’s uh
let’s let’s let’s have Pete’s take on
some of this stuff maybe yeah I can hear
you can you hear me yeah perfect
good good good good good so but we’ve
been talking a little bit about some of
the things that are going on and what I
want I want to get you to augment in
Internet of Things this is a fascinating
subject for me by the way the Internet
of Things and the way that it interfaces
with a distributed ledger so I’m anxious
to get to you but I kind of want to back
off just a little bit and talk a little
bit about your take on distributed
ledger unblocked chain technology as a
whole and some of your thoughts as to
where we’re going and how we’re going to
get there does that make sense yeah
absolutely yeah there’s a lot of
exciting things going on you know early
on we had done integrations with and
because we wanted to really ensure we
were using right protocols we started
benchmarking a number of different
protocols that were out there so hyper
ledger and hash graph AOS with the
graphene
chain obviously there’s there’s other
ones out there
Bitcoin lightning or aetherium radon and
really looking through these to
determine what what’s really what makes
sense for the right industry and the
right use cases in our particular
example with IRT you really need
high-volume microtransaction and micro
payments some of that will overlap with
let’s say some of FinTech and and that
type of thing
depending on you know what’s the what’s
the need of the block K but yeah a lot
of good stuff where we’re doing the
conference circuit right now so in fact
I leave tomorrow for Singapore and then
we’re on to Seoul South Korea and then
Shanghai and then Hong Kong so you know
each one of the conference’s you just
see new folks that are coming out and
I’m showing what they’re what they’ve
got obviously the first generation of
protocols we’re mostly based on digital
currencies but now you see that second
tier the second generation of companies
that are really building businesses on
the technology and that’s that’s really
exciting so yeah very stuff hooked
things are changing man it’s it’s crazy
you know one of the things that I always
say is if you were going to build a
database in 1984 you you’d build it kind
of like Oracle there are sequel right if
you’re going to build a database in 2018
that’s so much you’re gonna you’re gonna
build it differently right and we have
the we have the chance to retool the
industry go ahead I’m sorry well you
nailed it because in in IOT in
particular no you know that’s that’s
what I could really speak to you know
we’re really looking at about 40 billion
devices by 2020 quarter trillion devices
by 2025 and the trillion devices between
the next 10 to 20 years and I’ve
realized some of my numbers because the
numbers that I received was from days
Evans the CTO of Cisco and when you look
at that number of devices and then some
of the sensors on the
devices that they get pulled 200 times a
second so the sheer volume of
information that’s going to be out of
region of the internet there’s no way
you can centralize it you couldn’t put
it all in place that’s what that’s a big
number that’s a trillion times 200 per
second that’s a big number
exactly and now you know keep in mind
not all of that information deserves to
be on blockchain right so so when it
comes to bringing products to market and
working with customers you really have
to figure out you know does it go on
miss does it go on fog does it go on
cloud does the process and get done on
the device does it get done within a
smart contract does it get done within
the automate platform so these are all
things that we look at to really
determine what makes sense so you know
with blockchain it’s fine if it’s a
chain within a company or within a smart
home
to be on blockchain when the expense is
low it only then make sense if you’re
sharing information with your partners
an ecosystem is when you’re starting to
put it on the public blockchain yeah if
you if it needs to be shared right
that’s that’s the that’s the that’s the
point if if it needs to be shared and
there’s especially if there’s a transfer
of trust if you’re if you have one
person on one end of the transaction and
another person in another end of
transaction and they’re there the
transaction depends upon data it always
does its data in some forever another
then that’s definitely an on chain if
you have an IT of Internet of Things
device communicating with an Internet of
Things device every 200 times a second
letting you know hey I’m here I’m here
I’m here probably not so much basically
it’s what you’re saying right so that
can go in like either a cold storage or
into a kind of centralized database that
if you want to roll that information up
we can still run it through a smart
contract where it makes sense to tag
data and then put things in the
categories right so so if you want to
essentially you know get the health of
your IOT
network or you know centralized
information and a certain pathway again
off chain where you’re gonna have lower
expenses that totally makes sense but
like you said the sheer volume of data
is such that the data becomes when
you’re actually passing it within your
partners in your ecosystem so there’s a
number of use cases specifically in IOT
where this does make sense and that’s
that’s why it’s a really great fit right
right right
so and that that’s a good segue let’s
let’s go into augment and talk about the
early days you know back you know the
early early days
how long does augment been around gee
about four years now so yeah in the
whole scheme of things four years is
like you’re like the grandfather of the
entire industry you know what I mean
not very many people have been been
doing it for that long so my hats off to
you on that so let’s go back to four
years ago talk a little bit about what’s
happening and what was the genesis and
how did you get to where you’re at right
now
that make sense absolutely yeah so my
background is I’m a former IBM ER worked
out of a number of locations but you
know worked out of the Santa Teresa lab
in Silicon Valley and when I came back
to New York our families on the East
Coast
I started augment once you spend a
little bit of time in Silicon Valley you
kind of get a taste of startups and
entrepreneurship and and that stays with
you so got a little bit tired of working
at corporate started automate and really
the design point was a wearables
management platform and what I mean by
that is we were one of the first glass
network partners with Google so one of
ten companies in the world certified to
work with them on their smart glass
device and what we learned early on was
that companies didn’t really have the
tools or processes to deploy fleets of
wearables so we were doing the end-user
applications on smart glasses and these
are things like you know pick and pack
application in a warehouse telepresence
what I see video sharing applications
workflow applications you know these
these types of things and you could have
a great pilot but even if you can
improve efficiency you know save a
worker 30 minutes a day or you know
reduce errors by 8% whatever the metric
was at the end of the day when you went
to roll out those solutions in
production the IT directors would say
you know hey we’re good at rolling out
tablets and these kinds of devices but
when it comes to wearables you know we
just don’t have what it takes to do that
and so we put together a platform that
really did device management policy
security over there updates those types
of things and you know the the core of
it was really about security and
infrastructure of devices and and so
what we’ve believed is that wearables
are a subset of IOT and we wanted to get
wearables down really well before moving
on to all IOT devices get that
infrastructure layer down get that
security layer down and now you know now
we’re using distributed ledger
technology to expand to all IOT devices
so we’re essentially going from 10 or 12
you know smart wearable devices to you
know 2 to 3,000 IOT devices so and kind
of let’s let’s unpack the the
distributed ledger component and we’re
where’s the advantages of using a
distributed ledger and how are you
referencing your off chain data on the
ledger so that make sense yeah so we’re
using we’re using blockchain in about
five different components of the
solution and and by the way when when we
were putting together the roadmap
watch-chain was always a part of it but
we hadn’t always considered to do an IC
o—- or token offering we you know so I
can get I’ll get into the parts of
distributed ledger or blockchain so
first of all at the highest level we we
wanted to use blockchain even for our
own purposes so extern
from our system our platform it’s a
access token used to through acts of act
access services on our platform but
internally we had to actually figure out
how to charge a customer so what I mean
by that is in a traditional sense if you
had let’s say software that cost $100
for that license and you had a customer
that had 15 computers you would know
what to charge that customer you charge
them 1500 bucks right with IOT every
customer is gonna be different they
could have everything from a 50 cent
sensor to a hundred thousand dollar
piece of equipment and it’s all IOT
right and so just as you would have
let’s say 25 cents worth of Bitcoin and
you would know every hand that it passed
through and it was used to buy a packet
aid game you’d be able to follow it
through the system right so just as you
do that as a point tracker in order to
follow
Istavan through all of our services
because at the end of the day you have
to really determine am i charging by the
transaction and I charging by device am
i charging by the data they store am i
charging by the data they share and so
just to follow it through the system
ourselves we needed it for our own
purposes but then when you really start
to dig into blockchain and understand
the value of you know trust in a trust
list environment you talked about data
the amount of data that’s gonna be
generated is ridiculous okay so there’s
some of the models where for example and
I could use industry models and I could
use smart home models but there’s
hundreds of models so for example you
know you might have a an airline and
they’ve got a power washer right and
they’re washing the planes as they come
in well they might not own that piece of
equipment so it’s leased but yet the M
the the airline and the the power washer
company want to know how many hours are
being used if there’s any and so all of
that day that has to be put on online
and it has to be trusted and you’d have
you know escrow or automatic payments
that are based on that kind of you know
information it is
smart home you know you might have
health care let’s but let’s take a look
at that unpack that just a second
because you’ve really you’ve hit on some
things that are really important I think
and a lot of times we just kind of
glanced over them right so you have a an
airline that owns a power washer right
and they’ve leased it and that power
washer is is charged per hour that they
that they have on and there’s a little
meter on the side of it that sits there
in ticks and every once in a while
someone goes out walks out to the to the
power washer and says oh it has this
many hours on it right that’s
self-reported data that’s the way the
whole industry is right does that make
sense so so when someone walks out to it
and says look oh it says 10 ok it goes
back writes 10 and then someone gives
that information to the leasing company
the next week the guy goes out there and
goes ah maybe I don’t want to go out
there take a look at it maybe I’ll go
get a cup of coffee or something right
and this is the problem with
self-reported data and and the vast
majority of the statistics that we keep
are based on self-reported data in some
fit form or function we have
self-reported data that’s truly
self-reported they have self-reported
data that’s that’s collected and then
sent through a management team right and
then that management team looks at the
data augments it changes it to fit their
criteria and then sends it out and
publishes that data it’s all
self-reported and and this is the the
problem you have when you have a
database it resides in someone’s server
environment and it’s sitting in a in a
Diebold safe and has a bunch of whack
and mark guards around it guarding the
data right and even if we have that
meter somehow wirelessly in Bluetooth
report back that it’s going to report
back to that server and then that server
is going to go through internal channels
there’s going to be a manager that that
reports that data and manipulates the
data sales data agriculture is is is
huge in this in this respect we don’t
really understand a lot about what’s
going on in agriculture because there’s
no real data points out there
the middle of the field it’s all
self-reported medical this is the the
same problem when we’re seeing in
medical this is the same problem we’re
seeing in logistics logistics has been
gamed for centuries right centuries I
mean going back to the days of the horse
and buggy you you know you in and the
way the trucking the trucker’s are going
they want to do more than ten twelve
hours a day now we have EDL that’s going
to track them and we’ll be able to to
take this data but still we have EBL
that’s report back to a central office
that has a server right that has
management teams that look at the data
and and and manipulate the data and then
report that data so we have we have data
streams that aren’t correct that’s the
problem right absol and you’re so one
more time what’s that yeah yeah yeah a
lot of people just kind of glance over
this it’s just data I mean what’s the
big deal I mean we can we can do this
we’ve been working soft reporting for
you know 30 40 years it’s worked so far
well it’s not working we don’t have the
data to understand what’s going on and
we can’t if we don’t have data we can’t
measure and if you don’t measure you
can’t improve right so go ahead that’s
let’s continue in start talking yeah go
ahead exactly right and I’ll tell you
what I’ll put it this way in the next
three to four years you won’t be able to
buy a piece of equipment at the bodies
or clients that’s not connected to the
Internet you know so again you know
we’re really about the fourth generation
of the internet and IOT and the amount
of data that’s going to be churned out
is tremendous when you start adding in
artificial intelligence and you start
thinking about combining the data to get
new insights on things and new
efficiencies and new productivity for
companies that’s where the value is
going to come in so it’s a tremendous
opportunity and I’d I would put it this
way you know you got to think back to
circa 2006 right you know pre iPhone or
circa 1993 pre internet and
when you think about the fourth
generation okay so you take you know
take your mobile device you didn’t know
your life was gonna depend on it you
didn’t know that you were gonna fall in
love with the device right yet you had
no clue and this fortress oh we believe
this is the fourth generate their
generation so in the fourth generation
this infrastructure layer of all devices
connected okay the applications and
services that go on top of this layer
you’re gonna feel the same way about
you’re gonna feel the same way about how
you felt about the third generation and
smartphone when you see the applications
and services on top of this layer and
that’s what we’re building for
absolutely and it and it’s coming it’s
coming very quickly so we’ve talked a
little bit about the applications and
what happened at the beginning so let’s
talk about some of the things that
you’re doing doing today what what is it
that’s interesting that’s going on today
yeah absolutely and I’ll tell you what
just a you know talk a little bit more
about you know about blockchain you know
there’s there’s so many different ways
that it could be used and it’s
disrupting so many different industries
you know we’re we really think about the
models where you know you think about
the barriers to entry for any particular
business right and you say how do we use
technology as an engine right to solve
problems in the marketplace right so
you’re always taking new technology to
do that and so blockchain is still you
know relatively a new technology you
know some of the blockchain services
that exist out there and that are
related to protocol now we’re building
blockchain bridges within our platform
and then even using our tokens as a way
to pay for the gas on those things so
it’s true so as far as a user is
concerned you don’t have to worry about
hey you know my customer has this kind
of protocol or we’re using this kind of
system doesn’t matter from from their
perspective they don’t need to know
anything like that they don’t need to
know that I have to translate from this
protocol to this other protocol or this
plugins to this IOT platform to this
other IOT platform
we’re handling that and then we’re even
using our token to you know pay for the
cost of those types of things
oh you know we’re we’re when we we
talked about the sheer number of devices
and all this data that exists you know
we have to think about how do you make
it really simple 15 trillion dollar
market by 2030 okay and when you say
something like that and you say so yeah
and so you know with all of that he says
making it simple is critical okay so
that’s number one second thing is when
you look at all those devices every
single device that you add on to IR K is
a potential hacking point right an
endpoint for a hacker to get in there so
security has got to be you know I’m on
top so we focus on the things to really
make it so that you know companies have
an easier way to get onto IR K and we
think blockchain is a big part of that
you know for security reasons you know
just as you would have a you know let’s
say a financial transaction let’s say a
big point or aetherium trip action
between two people you know encrypted
you know on both sides of public key a
private key you know you could do the
same thing with machine a machine
communication or machine a human
communication you know so from a
security aspect you know we we think it
makes a lot of sense we can run
transactions through a smart contract
where you would essentially use it as a
gate a you know kind of a gate keeper
isn’t have the latest security patch
right it doesn’t have the latest
information on it I’m not going to pass
data to that device or take data from
that device so from from an IOT health
standpoint you’ve got an ability to
monitor the system to ensure that you
know it’s up to par and it’s you know on
top of things
well we’ve got a I’ve got a couple of
questions here I want to get back to
that but let’s let’s take a couple of
questions and anyone in the audience you
can ask questions at any time that you
like and we’ll get to them as soon as we
can so how did you segregate the off
chain transactions from Unchained
transactions for odd mate that’s a good
question
it is it is an excellent question so so
when you look at the protocols out there
so number one IOT is one of those you
know kind of kind of let’s say
businesses where you definitely need
high-volume because of the sheer number
of devices micro transaction and micro
payments even that being said you still
have to be cognizant of cost right and
so we’re data doesn’t have to be let’s
say shared we want to use protocols that
make sense that that don’t have cost for
within a private network so it’d be
almost the you know like a distributed
database you know from that standpoint
and then it’s only when it’s going on to
the public Internet for sharing within
partners in the ecosystem so that first
example where you have you know let’s
say the airline and the power washer
that would make sense to put onto the
public network but even in a home ok so
let’s say you know you’ve got your your
your health scale right it’s an it’s a
IOT scale because it’s connected to the
Internet the scales connected to your
Fitbit that’s connected to your nest
thermostat that’s connected to your
smart fridge and your health mirror ok
just just go back over that again ok the
scale that you step on for your weight
ok right right connected that’s
connected to your nest it’s connected to
your heart fridge yep each one of those
devices but you know let’s say you have
two Aetna – it’s your it’s kind of a
constellation of devices for your health
use case ok now that data you’d have to
ask you and I’ll add one on for you Mike
you take a pill in and you swallow it
and it’s not a regular multivitamin it’s
measuring your glucose levels in your
home or hormone levels and that’s
character – you’re smart ok now he’s got
all this data you have to decide am i
sharing that data with my doctor am i
sharing that data with my insurance
company because I want a discount
you know if I’m if I’m willing to share
that data they’re gonna give me a
discount so I want to do that
in do I want to sell some of that data
to the pharmaceutical company because I
don’t mind if they’re gonna pitch me on
one of their medicines if if it’s gonna
help me it’s connected to my genome and
whatever and I always say you know I’ll
tell you what I lived in Silicon Valley
for a number of years have had startups
I get the whole hype cycle and and all
that kind of stuff and you know you can
you can be cynical right if ups and
downs of startups and taking new
products to market and all that kind of
thing but I always tell everyone on my
team think three to four years out you
have to be you have to be building for
what’s gonna be occurring in the next
three years if you’re building for
what’s occurring now then forget it and
then you know that then you’re not gonna
have much value you’re taking new
technology and solving problems in the
marketplace but you know but you got to
be thinking at least three to four years
out so so hopefully that helps people
appreciate the kind of use cases that
that are gonna be existing but in that
use case it’s when you’re taking that
data and then you’re outside of the
smart home we’re then you have to figure
out okay well this deserves to go on you
know public blockchain so it’s it’s a
there there are a couple of things that
are involved one is cost much how much
gas is are going to cost a store the
other is application who’s going to use
it is it is it is it just you that want
to see it or is there going to be other
people that want to see it those types
of applications is a data sensitive does
it need to be encrypted there’s all
kinds of different things that go into
making a decision on how we segregate
off chain transactions and on train on
chain transactions right I hope that
answered you go ahead that’s part of the
secret sauce because not everything has
to go on to blockchain and so and so
that so when you’re weighing those
different options of cost the gas and in
that type of thing and what protocol is
being used part of the secret sauce in
our system is helping the the end user
the customer make those decisions about
what’s going to be in in you know
alright one more question and I’m
putting it up there just curious how did
you arrive at your token value for the
ICO lots of people asking questions
about the icos yes so I’ll tell you what
this is one of the hardest things but
for us what we did was we number one we
we brought on a bunch of advisers so we
we specifically just for the six months
of doing our coke and offering we
brought on twelve advisers so people
that had previously done I cos people
will never involve all sorts of
different folks so that was the first
thing and we asked them questions
okay so agnates license for our our
platform is $150,000 per year for a
corporate customer all right and so
that’s that’s number one so that had to
go into into the equation the second
thing is we were told we needed to have
at least as many tokens that would last
for ten years okay in order to do this
so we’ve got a finite supply and we we
burn them when they’re used and so but
we had to have enough and so we had to
have that total number so when you start
putting in the variables of into the
equation of what price is going to be
what we ended up doing was we we ended
up putting out the token for what’s
going to be a pretty significant
discount so in other words you’ve got
par value we’re at full price the token
would be huarac so we’ve got five
different ways that our Koken has has
value and increases in value but
essentially it’s going onto the market
for one fifth the price of what our
software license is and that was by
design so we actually call it a a
fractional license access token with
cryptographic coupon at okay so it’s got
an ability to have a discount so we’ve
got the price built in where there’s
already an upside for our folks and I I
got to be
careful with the language you know that
I use on there but we actually we’re
putting it at a low level with the you
know in order to encourage it to
increase in value while it’s on market
okay I hope that answers that question
now we were talking a little bit about
IOT stuff in the house and we got
sidetracked with a question and feel
free to ask questions again and if
anyone wants a video a question we’ll
get you up on video and we can that we
can share this anyone has a video
question just feel free to raise your
hand and let’s go go go
but we were talking a little bit about
IOT in the house we were going to move
on to healthcare when we got under the
question so can we can we pick it back
up on going on to healthcare and talking
a little bit about moving out and the
different change there so go ahead
absolutely now finish on smart homes
sure we the standpoint in the IOT to
really say you know number one what
would you capture the cost of storage is
going down tremendously right and so
it’s it’s exponential with how much data
where but a store now so we come from a
standpoint what would you capture if you
had unlimited storage okay and you start
thinking about video and you start
thinking about audio and all sorts of
different things that you could capture
them with this data included with IOT
that’s going to assist humans in ways
that are hard to imagine right now okay
and so the things that there’s security
use cases there’s entertainment use
cases we’re going to see a lot of
interesting things and by the way you
know when you’ve got 25 devices
connected to you know your your wireless
router you know you have to ask yourself
do you really want 25 applications and
so it’s one it is one of our goals to
really have one application and really
power to the people you know you’re in
control of the data so all that data
exists you the Internet’s become kind of
clumpy right so if you ever look at
Alexa I’m not talking Alexa Amazons you
know you know echo device I’m talking
about the traffic you know monitoring
website where
see where all the the data is going it
goes to Amazon it goes to Google and it
goes to you know all these certain
places there’s an opportunity to
actually correct and actually
decentralize the internet with the
fourth generation of the Internet and
all these devices so it gets really
interesting about the kind of
possibilities healthcare in particular I
think is great for IOT this is this is
an industry that’s ripe for disruption
ok you’ve got all these devices and it’s
true across all of IOT but very you know
very much in particular for healthcare
devices that don’t talk to each other
but yet if they did talk to each other
there’s an opportunity to help patients
and have better care and save lives and
all that kind of thing so there’s an
opportunity there but what makes it even
worse not only do you have fragmented
devices that don’t talk to each other
and you know no no good protocols or
security you’ve got such high regulation
you know in the United States Europe and
in other places that has made it very
difficult so you got all these silos
where you know essentially it’s
difficult to get things done so this is
someone to come in and it just so
happens that augment was granted a
special space at Toro Medical College in
order to test I oh t devices within a
hospital setting it’s an academic
College to medical school and we’re
testing devices at that facility so it’s
a great opportunity and well we’ll keep
you posted on how that goes but when you
start to think about it
significant opportunities remember we’ve
had our most experience with smart
glasses our initial partner in the
medical space was a company called Avena
ok so they’re not regular smart glasses
these smart glasses have the ability to
see infrared ok so they can see the
veins in your arm the the problem they
were looking to solve was when they go
to stick you with a needle like you know
a nurse practitioner or a physician
assistant they miss 40% of the time on
the first try
ok so they were looking to solve that
problem for
for patient care now in that I don’t
want to say there were a one-trick pony
but that was their main core competency
all right doing solving that problem the
opportunity is it’s an Android operating
system they’ve got a display within
smart glasses you can have applications
in there you could have data that flows
to nurses and in that type of thing and
it’s only been within this year we’re
starting to see the maturity of devices
get to a point where you can’t tell that
they’re smart glasses cannot you can’t
tell from the outside you know when you
know glass first came out from Google
you know pretty nerdy what it was the
devices that are coming out this year
and so you know from a patient care
standpoint when you’ve got an
interfacing you know application with a
patient they’re sitting right in front
of you it’s kind of nice that they don’t
feel you know threatened or bothered but
yeah the the medical staff have the
ability to care for that patient even
better using the technology so that’s
like one example but you could imagine
vitals or you know let’s say you know
the last mile when it comes to providing
medicine is it the correct dosage am i
giving it to the right you know patient
right is this medicine the medicine for
this patient you know all that
information even having you know beacons
within rooms to be able to alert staff
of what’s going on so I think what we’ll
see transformations within hospitals in
the medical space that’ll be will be
great in in very IOT related i I think
you’re right there there’s a in a
especially in health care there’s a lot
of sneaker wear I mean maybe I’ve just
showed my age but you know sneaker wear
when I was beginning programming by the
way my first program was about this I
was in cards in networking wasn’t that
yeah you know sometimes you had to pick
up your your program and use your
sneakers to to transfer it to another
another machine but in medical I Oh tea
I mean you know the nurse comes in she
says well how you feeling well you
should know how I feel I mean
there should be there should be
monitoring why am i telling you how I
feel now I have to be subjective in
telling you how I feel and okay we’re
going to give you a medicine what is
your name and what’s your birth date I
need to check and make sure that I’m
giving you the right stuff okay this
makes me feel real confident in what I’m
getting here the the nurse is not really
sure who I am and and and I’m wondering
now am i getting the right dosage am I
getting the right stuff am I going to
wake up in the morning so yeah there’s a
lot of IOT that is again it’s
self-reported and a lot of times it’s
self-reported data that we’re collecting
in life-and-death types of circumstances
and and that has a lot of room for
improvement there let’s put it that way
and you know anything that you don’t
measure you can’t improve first thing we
got to do is start getting at getting
the data and start collecting the data
this is a way to do it so yes great
great great stuff so keep going so sorry
to interrupt
no in I mean there’s just so many
opportunities when you when you start
thinking about the data we had done a
lot of work with wearables and smart
wearables and you know you have to
remember you know when you’ve got an
accelerometer and a gyroscope the device
doubles as a pedometer right so let’s
say you know your your workers are
walking you know 45 minutes a day you
know that might be good that might be
that we might change the layout of your
factory based on that information you
know with when when you’ve got you know
that kind of technology you know just
let’s say on smart glasses or watching
the even get heartbeat with big data and
artificial intelligence you can actually
know is my worker fatigue are they
stressed are they about ready to make a
mistake so so again with data you want
lots of data volumes of data and I’m not
one of these folks who think that
artificial intelligence and commuters
and computers are going to overtake the
human race I truly believe that it’s
going to be something that will assist
humans for their health or efficiency
for all sorts of reasons to make
our lives easier there and but it’s
there’s there’s so many examples
goodness if you knew that the the Watson
example where there was a woman oh yeah
she had leukemia and they gave her all
the different medicines that that they
could for leukemia and it turned out
they didn’t help her they didn’t work
and within three weeks she was gonna die
and they gave the medical record records
to Watson and Watson spit out a
recommendation and said well this woman
had a very rare form of leukemia and
that they hadn’t tested for and ended up
giving her a drug and saved her life and
the reason that it was able to do it is
because it had sifted through 20 million
records so something that a too much us
would not have any ability to do so we
have to understand with this next
generation of the Internet this fourth
generation of the Internet in IOT the
amount of data that’s going to be
generated it will be impossible for
humans to go through it so you we’re
gonna need assistance we’re gonna need
help in order to do that and how that
data is stored and processed is really
critical to the kinds of applications
and services that exist you know we’re
planning on really putting out with our
platform the ability for third parties
to come in and say oh yeah we’ve solved
a a problem some nice problem for this
industry or this use case and then use
our system and offer decentralized apps
and they’ll be able to use our token
within their decentralized apps so again
you know when I say that we’ve got you
know five or six different methods where
we’re using the blockchain you know
we’re legitimately using it both out
external our platform and internal
within our platform arm and there’s very
few icos or token offerings that can
really say to the extent that they’re
using blob check in their solution right
and we have another question I want to
get to it but I would just want to ask
you just a clarifying point here the
thinking about all that you’re doing and
all the data you’re collecting and all
the data points that you’re collecting
and how you’re
King them would it be possible to
collect that data in a normal server
environment so yeah it’s always always a
good question like you know do you have
to use blockchain you know do you have
to use distributed ledger in that type
of thing
we’ve just got too many use cases where
where it wouldn’t make sense and again
the sheer number of devices and sheer
number of data it doesn’t make sense to
put in a centralized system all right
okay so it makes more sense to put this
decentralized and then there’s you know
you still have the security but yet
you’ve got the accessibility of the data
across the number of different labels so
for for that reason and for other use
cases as well I think it totally makes
sense for distributed ledger in this
case so so so basically in your mind
it’s an it’s a data accessibility issue
right it definitely is and and with the
barriers to entry with IOT you know all
these devices device management easy
device management I’m talkin you know
Apple easy stupid easy you know kind of
you know system in place in security are
two of the biggest barriers for IOT and
those are two of the drugs that we’re
solving and it’s such a monster problem
you got a lot of different players into
this and it’s becomes very complex and
you really you you kind of need a you
know in on one sense a central hub right
that’s gonna be able to you know talk to
a lot of different systems but at the
same time when it comes to the data that
has to be distributed right right okay
great and yeah that’s always a good
question that’s one of the things that I
get asked more often than not is okay so
help me understand why we need
distributed ledger and I can’t I can’t
do this at a normal server environment
and most of the time you can’t
especially in IOT you it’s the same
problem that we had before where we’re
taking data we’re collecting data we’re
storing in a server that’s in a Diebold
safe has a bunch of Wackenhut guard
standing around it and it’s up for
someone to go in look at the
look at the data interpret the data and
then send out the reports as opposed to
us actually lensing the data on a
distributed ledger and then and then
making our own assumptions and our own
correlations on top of the fact that you
can make interesting correlations if you
have access to raw data and if you just
have a report that has numbers on it
that someone’s giving you you’re not
you’re not you don’t have access to the
raw data a lot of things going on that
we couldn’t even have done 10 years ago
so it’s a it’s an interesting niche well
I’m going to get another question going
here this one’s a long one so I’m going
to warn you so how our partnerships made
should your partner company buy your
tokens example if you have an IC o—-
which is in the supply chain domain and
wants to have it wants to integrate with
your technology you touched a little bit
on this at the beginning of the hour so
let’s let’s let’s dive a little deeper
into that could we yeah yeah absolutely
so the way that we’ve done partnerships
in the past we probably are not going to
continue quite on that same track and
well and we’re trying to make some
strategic decisions and I’m gonna
explain what that means
so with these smart wearables that are
on our platform the way that we worked
was we would put provisioning software
on those devices so they were mostly
Android devices and what I mean by
provisioning software is you know it
would get down to an Android or
operating system or Hardware services
layer and and it would be signed by the
keys of the hardware manufacturer and
that would grant us special privileges
on that device so a normal application
would go on a SmartWatch or for the
smart glasses doesn’t need that kind of
access okay but because what we what we
discovered early on was that IT
directors needed the ability to remote
wipe the device reset someone’s password
centrally manage teams of users or
distributed users or install
applications and all that kind of stuff
our provisioning software needed to get
down to that layer so we had om Hardware
agreements with those
to companies okay so now when you’ve got
1012 companies that are your partners
your hardware partners you can manage
that as we move to two thousand devices
and three thousand devices and then you
think about supply chain one of
automates investors and by the way you
know what I said we didn’t know we were
gonna do a token offering you know
wasn’t joking around we did a seed round
it was all venture capital you know I’m
talking you know it was uh you know Tim
Draper Rothenberg ventures accel
partners funding post Siemens venture
capital but ups was one of our investors
right and so from a supply chain
standpoint you know these are folks that
understand logistics legit logistics was
a word that was actually coined by
Napoleon and he said he said that armies
armies travel on their belly and it
wasn’t that they were crawling through
the mud it was that the army is only 30
percent of war you need your food
supplies you need your health supplies
you need all this other stuff that’s
logistics right and in the movement of
all those things is what’s really
important and and so when it comes to
supply chain and logistics fine-tuning
that is what really matters and and of
course blockchain makes the most sense
because you know when you’re tracking
your package obviously you know where
that package is that you know it left
the distributed you know the
distribution center you know it’s on the
truck you know it’s you know app for
delivery all that kind of information so
that makes sense that to put that out
there now when it comes to the kind of
devices that you work with like zebra
will will make like a scanner or there’s
a finger scanner right that’s Bluetooth
and maybe that works with a smart glass
device or smart watching into those
types of things so there’s these
different solutions out there you know
we had seen early on pack I phones that
were connected into you know some sort
of laser scanner and used to you know
scan packages and the app was on the you
know on the smartphone so there’s all
these different devices that are out
there and at the end of the day those
devices need to talk to each other and
then that they
it’s you know put into a place where you
know whoever needs to access it accesses
it I’d say the best way to work with us
is an email and phone call in the
beginning and then we figure out the
token strategy so so in other words you
know let’s say if we’re if we were doing
a project with ups or we’re doing a
project with you know a big-box store
retail or or something along those lines
you know we would say you know what do
we what do we want access to do you want
access to this particular customer or
and you want to present that solution
you know to this car tomorrow or or is
it is the more general purpose or to
place in the app to exist and then you
know then we’re doing Co marketing in
going out to a particular industry and
then selling that solution you know the
the you know the complementary services
of what our mate does and then what your
supply chain company does and so there’s
a couple different options there but I
would say a call to get started is
absolutely the best way very good I hope
I hope we got all the questions answered
today it’s it’s coming up to the top of
the hour it happens really quick doesn’t
it it feels like we just sat down a few
minutes ago and it’s already coming up
on an hour and once again we’ve wasted a
perfectly good hour talking about all
things blockchain here on blockchain
weekly I want to give you a final shout
and I want to ask you you know you’ve
got a couple of minutes here what is
your outlook for the future what do you
think think things are going and what’s
the what’s the big thing the next big
thing out there well I’ll tell you what
here’s what I’ve I’ve noticed so so
number one when we made the decision to
use blockchain you know within our
roadmap and we decided to do a token
offering we did in part in order to
absolutely immerse the team by going to
conferences and meetups and work with
partners that we’re using blockchain
okay and and so we we already knew we
were using blockchain in part of our
solution but we wanted it’s not good
enough to just work within a bubble or
or you know that kind of thing you know
in isolation or a vacuum so to immerse
yourself within the community makes the
most amount of sense and what we’ve
learned is that and you kind of knew it
from let’s say the startup world of
working with VCS and everything the
amount of capital needs there’s a lot of
great ideas right blockchain is
disrupting so many different businesses
in industries right so the need for
capital leagues out there so the
traditional methods of getting capital
into businesses you know it’s just
becoming democratized going to VCS and
you know ten dimensions of a business
plan and your pitch deck and all that
kind of stuff is tough and we’re just
seeing an explosion in the marketplace
of startups going in raising capital
through through a token offering yeah
it’s uh yeah you know that raising
capital the VC market private equity
that kind of stuff that’s a that’s a an
industry that’s been broke for quite
some time now and just another one
that’s being changed by you know
different consensus algorithms and and
that coming together with community so
great great concept great ideas great
company really appreciate your time I
want to give a quick shout out to to
Mike and the crew and shindig they’re
the ones that provide this this platform
for us every week so we can get together
and and talk about all things blockchain
really appreciate you Mike you’re always
on the top of my lips when I’m talking
about talking to people about different
things in different different ways of
doing this and educating and really
appreciate you guys really appreciate oh
he wants to come on and give a parting
shot here come on Ian Mike although it
looks like we’re going to be seeing your
chair oh there you are
there you are yeah yeah just a quick
thanks to everyone’s we have Pete from
coming on Mike for hosting these every
week they’ll be recorded so on Mike
you’re using Mike’s YouTube channel
watch a Gizelle’s YouTube channel I
think you should have to go on YouTube
module a blockchain weekly and it’ll
bill pop up right there
for those who have colleagues I couldn’t
attend then just be in the moment
Brigid all right guys thanks a lot we’ll
see you next week Wednesday same time
thanks guys
thank you
you