InVision CEO Clark Valberg to talk design at Disrupt SF

Posted by on 24 July, 2018

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To Clark Valberg, the screen is the most important place in the world. And he’s not the only one who thinks so. It isn’t just tech companies spending their money on design. The biggest brands in the world are pouring money into their digital presence, for many, the first step is InVision.

InVision launched back in 2011 with a simple premise: What if, instead of the back-and-forth between designers and engineers and executives, there was a program that let these interested parties collaborate on a prototype?

The first iteration simply let designers build out prototypes, complete with animations and transitions, so that engineers didn’t spend time building things that would only change later.

As that tool grew, InVision realized that it was in conversation with designers across the industry, and that it hadn’t yet fixed one of their biggest pain points. That’s why, in 2017, InVision launched Studio, a design platform that was built specifically for designers building products.

Alongside Studio, InVision also launched its own app store for design programs to loop into the larger InVision platform. And the company also launched a fund to invest in early-stage design companies.

The idea here is to become the Salesforce of the design world, with the entire industry centering around this company and its various offerings.

InVision has raised more than $200 million, and serves 4 million users, including 80 percent of the Fortune 500. We’re absolutely thrilled to have Clark Valberg, InVision cofounder and CEO, join us at Disrupt SF in September.

The full agenda is here. Passes for the show are available at the Early-Bird rate until July 25 here.

Posted Under: Tech News
Watch the Google Cloud Next day one keynote live right here

Posted by on 24 July, 2018

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Google is hosting its big cloud conference, Google Cloud Next, this morning over at the Moscone center in San Francisco. Obviously it’s not quite as large as its flagship event I/O earlier this year, but Google’s cloud efforts have become one of its brightest points over the past several quarters.

With heavy investments in Google Cloud’s infrastructure, its enterprise services, as well as a suite of machine learning tools layered on top of all that, Google is clearly trying to make Google Cloud a core piece of its business going forward. Traditionally an advertising juggernaut, Google is now figuring out what comes next after that, even as that advertising business continues to grow at a very healthy clip.

The keynote starts at 9 a.m. Pacific time, and the TechCrunch team is on the ground here covering all the newsiest and best bits. Be sure to check out our full coverage on TechCrunch as the keynote moves forward.

Posted Under: Tech News
YC-backed Send Reality makes 3D virtual walkthroughs for residential listings

Posted by on 24 July, 2018

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The fields of computer vision and VR are difficult. But a new company, Send Reality, is entering the race. The Y Combinator-backed company is looking to offer full 3D-modeling for virtual walkthroughs of real estate listings.

Founder and CEO Andrew Chen said he was the kid back in middle school and high school that spent hours walking around the streets of Paris, NYC and SF on Google Streetview.

“The thing I always wanted was to walk through the inside of all the interesting places of the world,” said Chen. “90 percent of the world’s most interesting physical content is inside, but I couldn’t do that.”

Chen explained that the field of computer vision has been able to make substantial technical breakthroughs, now allowing companies like Send Reality to create a videogame-style replica of the world.

For now, however, Send Reality is focused on luxury residential real estate.

Here’s how it works:

Send Reality sends photographers out to the listing with an iPad, a $250 commodity depth sensor, and a specialized Send Reality app. These photographers take hundreds of thousands of photos, and the Send Reality technology stitches those photos together to create a complete 3D model, as shown in the above .gif.

Chen says that what makes Send Reality tech special is how efficiently it’s able to stitch together these photos, explaining that the company can put together over 100K photos in the same time it takes for top academic labs in the world to put together 5,000.

“What this means is that the 3D models we create are so much more realistic than anything else anyone else has made,” said Chen.

For the luxury residential market that Send Reality is currently targeting, most listings are put up on their own website. Given this is still in beta, the numbers on Send Reality demoes are still rough. But Chen says that listing websites that include the Send Reality product see a 5x to 10x increase in the amount of time people spend on the website, with 75 percent to 80 percent of that extra time spent directly in the Send Reality viewer.

Send Reality sells directly to realtors, offering the product for $500 to $800 depending on the size and complexity of the home. In the future, the company can bring down that price point by allowing realtors to scan the home themselves from their own smartphone.

Send Reality has received funding from Y Combinator .

Posted Under: Tech News
Rescale reels in $32 million Series B to bring HPC to cloud

Posted by on 24 July, 2018

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Rescale, the startup that wants to bring high performance computing to the cloud, announced a $32 million Series B investment today led by Initialized Capital, Keen Venture Partners and SineWave Ventures.

They join a list of well-known early investors that included Sam Altman, Jeff Bezos, Richard Branson, Paul Graham, Ron Conway, Chris Dixon, Peter Thiel and others. Today’s investment brings the total amount raised to $52 million, according to the company.

Rescale works with engineering, aerospace, scientific and other verticals and helps them move their legacy high performance computing applications to the cloud. The idea is to provide a set of high performance computing resources, whether that’s on prem or in the cloud, and help customers tune their applications to get the maximum performance.

Traditionally HPC has taken place on prem in a company’s data center. These companies often have key legacy applications they want to move to the cloud and Rescale can help them do that in the most efficient manner, whether that involves bare metal a virtual machine or a container.

“We help take a portfolio of [legacy] applications running on prem and help enable them in the cloud or in a hybrid environment. We tune and optimize the applications on our platform and take advantage of capital assets on prem, then we help extend that environment to different cloud vendors or tune to best practices for the specific application,” company CEO and co-founder Joris Poort explained.

Photo: Rescale

Ben Verwaayen, who is a partner at one of the lead investors, Keen Venture Partners, sees a company going after a large legacy market with a new approach. “The market is currently 95% on-premise, and Rescale supports customers as they move to hybrid and eventually to a fully cloud native solution. Rescale helps CIOs enable the digital transformation journey within their enterprise, to optimize IT resources and enable meaningful productivity and cost improvements,” Verwaayen said in a statement.

The new influx of cash should help Rescale, well, scale, and that will involve hiring more developers, solutions architects and the like. The company wants to also use the money to expand its presence in Asia and Europe and establish relationships with systems integrators, who would be a good fit for a product like this and help expand their market beyond what they can do as a young startup.

The company, which is based in San Francisco, was founded in 2011 and has 80 employees. They currently have 150 customers including Sikorsky Innovation, Boom Aerospace and Trek Bikes.

Posted Under: Tech News
Google Cloud CEO Diane Greene: “We’re playing the long game here”

Posted by on 24 July, 2018

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Google is hosting its annual Cloud Next conference in San Francisco this week. With 20,000 developers in attendance, Cloud Next has become the cloud-centric counterpart to Google I/O. A few years ago, when the event only had about 2,000 attendees and Google still hosted it on a rickety pier, Diane Greene had just taken over as the CEO of Google’s cloud businesses and Google had fallen a bit behind in this space, just as Amazon and Microsoft were charging forward. Since then, Google has squarely focused on bringing business users to its cloud, both to its cloud computing services and to G Suite.

Ahead of this year’s Cloud Next, I sat down with Diane Greene to talk about the current state of Google Cloud and what to expect in the near future. As Greene noted, a lot of businesses first approached cloud computing as an infrastructure play — as a way to get some cost savings and access to elastic resources. “Now, it’s just becoming so much more. People realize it’s a more secure place to be, but really, I feel like in its essence it’s all about super-charging your information to make your company much more successful.” It’s the cloud, after all, where enterprises get access to globally distributed databases like Cloud Spinner and machine learning tools like AutoML (and their equivalent tools from other vendors).

When she moved to Google Cloud, Greene argued, Google was missing many of the table stakes that large enterprises needed. “We didn’t have all the audit logs. We didn’t have all the fine-grained security controls. We didn’t have the peer-to-peer networking. We didn’t have all the compliance and certification,” she told me.

People told her it would take Google 10 years to be ready for enterprise customers. “That’s how long it took Microsoft. And I was like, no, it’s not 10 years.” The team took that as a challenge and now, two years later, Greene argues that Google Cloud is definitely ready for the enterprise (and she’s tired of people calling it a ‘distant third’ to AWS and Azure).

Today, when she thinks about her organization’s mission, she sees it as a variation on Google’s own motto. “Google’s mission is to organize the world’s information,” she said. “Google Cloud’s mission then is to supercharge our customers’ information.”

When it comes to convincing large enterprises to bet on a given vendor, though, technology is one thing, but a few years ago, Google also didn’t have the sales teams in place to sell to these companies. That had to change, too, and Greene argues that the company’s new approach is working as well. And Google needed the right partners, too, which it has now found with companies like SAP, which has certified Google’s Cloud for its Hana in-memory database, and the likes of Cisco.

A few months ago, Greene told CNBC she thought that people were underestimating the scale of Google’s cloud businesses. And she thinks that’s still the case today, too. “They definitely are underestimating us. And to some extent, maybe that hurt us. But we love our pipeline and all our engagements that we have going on,” she told me.

Getting large businesses on board is one thing, but Greene also argued that today is probably the best time ever to be an enterprise developer. “I’ve never seen companies so aggressively pursuing the latest technology and willing to adopt this disruptive technology because they see the advantage that can give them and they see that they won’t be competitive if the people they compete with adopt it first,” Greene told me. “And because of this, I think innovation in the enterprise is happening right now, even faster than it is in consumer, which is somewhat of a reversal.”

As for the companies that are choosing Google Cloud today, Greene sees three distinct categories. There are those that were born in the cloud. Think Twitter, Spotify and Snap, which are all placing significant bets on Google Cloud. Not shy to compare Google’s technology prowess to its competitors, Green noted that “they are with Google Cloud because they know that we’re the best cloud from a technology standpoint.”

But these days, a lot of large companies that preceded the internet but were still pretty data-centric are also moving to the cloud. Examples there, as far as Google Cloud customers go, include Schlumberger, HSBC and Disney. And it’s those companies that Google is really going after at this year’s Next with the launch of the Google Services Platform for businesses that want or need to take a hybrid approach to their cloud adoption plans. “They see that the future is in the cloud. They see that’s where the best technology is going to be. They see that through using the technology of the cloud they can redeploy their people to be more focused on their business needs,” Greene explained.

Throughout our conversation, Greene stressed that a lot of these companies are coming to Google because of its machine learning tools and its support for Kubernetes. “We’re bringing the cloud to them,” Greene said about these companies that want to go hybrid. “We are taking Kubernetes and Istio, the monitoring and securing of the container workflows and we’re making it work on-prem and within all the different clouds and supporting it across all that. And that way, you can stay in your data center and have this Kubernetes environment and then you can spill over into the cloud and there’s no lock-in.”

But there’s also a third category, the old brick-and-mortar businesses like Home Depot that often don’t have any existing large centralized systems but that now have to go through their own digital transformation, too, to remain competitive.

While it’s fun to talk about up-and-coming technologies like Kubernetes and containers, though, Greene noted the vast majority of users still come to Google Cloud because of its compute services and data management and analytics tools like BigQuery. Of course there’s lot of momentum behind the Google Kubernetes Engine, too, as well as the company’s machine learning tools, but enterprises are only now starting to think about these tools.

But Greene also stressed that a lot of customers are looking for security, not just in the cloud computing side of Google Cloud but also when it comes to choosing the G Suite set of productivity tools.

“Companies are getting hacked and Google, knock on wood, is not getting hacked,” she noted. “We are so much more secure than any company could ever contemplate.”

But while that’s definitely true, Google has also faced an interesting challenge here because of its consumer businesses. Greene noted that it sometimes takes people a while to understand that what Google does with consumer data is vastly different from what it does with data that sits in Google Cloud. Google, after all, does mine a good amount of its free users’ data to serve them more relevant ads.

“We’ve been keeping billions of people’s data private for almost 20 years and that’s a lot of hard work, but a cloud customer’s data is completely private to them and we do have to continually educate people about that.”

So while Google got a bit of a late start in getting enterprises to adopt its Cloud, Greene now believes that it’s on the right track. “And the other thing is, we’re playing the long game,” she noted. “This thing is early. Some people estimate that only 10 percent of workloads are in the big public clouds. And if it’s not in a public cloud, it is going to be in a public cloud.”

Posted Under: Tech News
Google Cloud’s partnership network begins paying dividends

Posted by on 23 July, 2018

This post was originally published on this site

When Google Cloud brought Diane Greene on board at the end of 2015, one of her goals was to expand the division’s partnership network, an approach she found worked quite well when she was running VMware in the early 2000s. It appears to be working at Google too.

This week at Google Next, the company’s annual cloud conference, they announced the partner program had grown significantly since the beginning of last year. “Since the start of 2017, we’ve increased the number of technology partners by 10x and we’ve more than doubled our team supporting these partners,” Google’s Nan Boden and Nina Harding wrote in a blog post on partner program progress.

Google is partnering with a variety of large enterprise vendors from Cisco to SAP to NetApp to Diane Greene’s old company, VMware. In addition, they are also working with the traditional systems integrators like Accenture, Deloitte, KPMG and others.

All of this is enabling Google Cloud customers to work through familiar channels while helping Google to build out its cloud business and gain more traction in the enterprise. Partners in general help customers work with a platform like Google Cloud more easily by providing integrations that might not otherwise exist.

One thing Google has going for it, especially on the G Suite side of the house, which includes Gmail, Docs, Drive and Calendar, is sheer numbers with millions of users. It benefits the partner to work with a company like Google Cloud to help all their common users, and perhaps attract new ones, and it benefits Google because it makes their cloud services all the more valuable to the customer.

The company sees Software as a Service in particular as a key area for growth and they announced out a new partnership program this week with access to more Google personnel and marketing funding to help encourage more interaction with SaaS partners on the platform. They already have multiple agreements in place with popular SaaS vendors including Salesforce, Box, MongoDB, Zenoss, Elastic, RedisLabs, JFrog, BetterCloud, DialPad, and many others

Cloud computing has always been different from traditional enterprise computing because cooperation has always been the watch word. Even companies like Salesforce and DialPad and Cisco and SAP that could be competing with Google on some levels see the benefits of working with them (and other cloud providers). It’s what their customers want, and cooperation when it makes sense, benefits all parties involved.

Posted Under: Tech News
Xage secures $12 million Series A for IoT security solution on blockchain

Posted by on 23 July, 2018

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Xage (pronounced Zage), a blockchain security startup based in Silicon Valley, announced a $12 million Series A investment today led by March Capital Partners. GE Ventures, City Light Capital and NexStar Partners also participated.

The company emerged from stealth in December with a novel idea to secure the myriad of devices in the industrial internet of things on the blockchain. Here’s how I described it in a December 2017 story:

Xage is building a security fabric for IoT, which takes blockchain and synthesizes it with other capabilities to create a secure environment for devices to operate. If the blockchain is at its core a trust mechanism, then it can give companies confidence that their IoT devices can’t be compromised. Xage thinks that the blockchain is the perfect solution to this problem.

It’s an interesting approach, one that attracted Duncan Greatwood to the company. As he told me in December his previous successful exits — Topsy to Apple in 2013 and PostPath to Cisco in 2008 — gave him the freedom to choose a company that really excited him for his next challenge.

When he saw what Xage was doing, he wanted to be a part of it, and given the unorthodox security approach the company has taken, and Greatwood’s pedigree, it couldn’t have been hard to secure today’s funding.

The Industrial Internet of Things is not like its consumer cousin in that it involves getting data from big industrial devices like manufacturing machinery, oil and gas turbines and jet engines. While the entire Internet of Things could surely benefit from a company that concentrates specifically on keeping these devices secure, it’s a particularly acute requirement in industry where these devices are often helping track data from key infrastructure.

GE Ventures is the investment arm of GE, but their involvement is particularly interesting because GE has made a big bet on the Industrial Internet of Things. Abhishek Shukla of GE Ventures certainly saw the connection. “For industries to benefit from the IoT revolution, organizations need to fully connect and protect their operation. Xage is enabling the adoption of these cutting edge technologies across energy, transportation, telecom, and other global industries,” Shukla said in a statement.

The company was founded just last year and is based in Palo Alto, California.

Posted Under: Tech News
SessionM customer loyalty data aggregator snags $23.8 M investment

Posted by on 23 July, 2018

This post was originally published on this site

SessionM announced a $23.8 million Series E investment led by Salesforce Ventures. A bushel of existing investors including Causeway Media Partners, CRV, General Atlantic, Highland Capital and Kleiner Perkins Caufield & Byers also contributed to the round. The company has now raised over $97 million.

At its core, SessionM aggregates loyalty data for brands to help them understand their customer better, says company co-founder and CEO Lars Albright. “We are a customer data and engagement platform that helps companies build more loyal and profitable relationships with their consumers,” he explained.

Essentially that means, they are pulling data from a variety of sources and helping brands offer customers more targeted incentives, offers and product recommendations “We give [our users] a holistic view of that customer and what motivates them,” he said.

Screenshot: SessionM (cropped)

To achieve this, SessionM takes advantage of machine learning to analyze the data stream and integrates with partner platforms like Salesforce, Adobe and others. This certainly fits in with Adobe’s goal to build a customer service experience system of record and Salesforce’s acquisition of Mulesoft in March to integrate data from across an organization, all in the interest of better understanding the customer.

When it comes to using data like this, especially with the advent of GDPR in the EU in May, Albright recognizes that companies need to be more careful with data, and that it has really enhanced the sensitivity around stewardship for all data-driven businesses like his.

“We’ve been at the forefront of adopting the right product requirements and features that allow our clients and businesses to give their consumers the necessary control to be sure we’re complying with all the GDPR regulations,” he explained.

The company was not discussing valuation or revenue. Their most recent round prior to today’s announcement, was a Series D in 2016 for $35 million also led by Salesforce Ventures.

SessionM, which was founded in 2011, has around 200 employees with headquarters in downtown Boston. Customers include Coca-Cola, L’Oreal and Barney’s.

Posted Under: Tech News
Cogito scores $37M as AI-driven sentiment analysis biz grows

Posted by on 23 July, 2018

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Cogito announced a $37 million Series C investment today led by Goldman Sachs Growth Equity. Previous investors Salesforce Ventures and OpenView also chipped in. Mark Midle of Goldman Sachs’ Merchant Banking Division, has joined Cogito’s Board of Directors

The company has raised over $64 million since it emerged from the MIT Human Dynamics Lab back in 2007 trying to use the artificial intelligence technology available at the time to understand sentiment and apply it in a business context.

While it took some time for the technology to catch up with the vision, and find the right use case, company CEO and founder Joshua Feast says today they are helping customer service representatives understand the sentiment and emotional context of the person on the line and give them behavioral cues on how to proceed.

“We sell software to very large software, premium brands with many thousands of people in contact centers. The purpose of our solution is to help provide a really wonderful service experience in moments of truth,” he explained. Anyone who deals with a large company’s customer service has likely felt there is sometimes a disconnect between the person on the phone and their ability to understand your predicament and solve your problem.

Cogito in action giving customer service reps real-time feedback.

He says using his company’s solution, which analyzes the contents of the call in real time, and provides relevant feedback, the goal is to not just complete the service call, but to leave the customer feeling good about the brand and the experience. Certainly a bad experience can have the opposite effect.

He wants to use technology to make the experience a more human interaction and he recognizes that as an organization grows, layers of business process make it harder for the customer service representative to convey that humanity. Feast believes that technology has helped create this problem and it can help solve it too.

While the company is not talking about valuation or specific revenue at this point, Feast reports that revenue has grown 3X over the last year. Among their customers are Humana and Metlife, two large insurance companies, each with thousands of customer service agents.

Cogito is based in downtown Boston with 117 employees at last count, and of course they hope to use the money to add on to that number and help scale this vision further.

“This is about scaling our organization to meet client’s needs. It’s also about deepening what we do. In a lot of ways, we are only scratching the surface [of the underlying technology] in terms of how we can use AI to support emotional connections and help organizations be more human,” Feast said.

Posted Under: Tech News
The blockchain begins finding its way in the enterprise

Posted by on 22 July, 2018

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The blockchain is in the middle of a major hype cycle at the moment, and that makes it hard for many people to take it seriously, but if you look at the core digital ledger technology, there is tremendous potential to change the way we think about trust in business. Yet these are still extremely early days and there are a number of missing pieces that need to be in place for the blockchain to really take off in the enterprise.

Suffice it to say that it has caught the fancy of major enterprise vendors with the likes of SAP, IBM, Oracle, Microsoft and Amazon all looking at providing some level of Blockchain as a service for customers.

While the level of interest in blockchain remains fluid, a July 2017 survey of 400 large companies by UK firm Juniper Research found 6 in 10 respondents were “either actively considering, or are in the process of, deploying blockchain technology.”

In spite of the growing interest we have seen over the last 12-18 months, blockchain lacks some basic underlying system plumbing, the kind any platform needs to thrive in an enterprise setting. Granted, some companies and the open source community are recognizing this as an opportunity and trying to build it, but many challenges remain.

Obstacles to adoption

Even though the blockchain clearly has many possible use cases, some people still have trouble separating it from its digital currency roots, and Joshua McKenty, who helped develop Open Stack while working at NASA and now is head of Cloud Foundry at Pivotal, sees this as a real problem, one that could hold back the progress of blockchain as an enterprise technology.

He believes that right now bitcoin and blockchain are akin to Napster and peer to peer (P2P) technology in the late 90s. When Napster made it easy to share MP3 files illegally on a P2P network, McKenty believes, it set back business usage of P2P for a decade because of the bad connotations associated with the popular use case.

“You couldn’t talk about Napster [and P2P] and have it be a positive conversation. Bitcoin has done that to blockchain. It will take us time to recover what bitcoin has done to get to something that is really useful [with blockchain],” he said.

Photo by Spencer Platt/Newsmakers – Getty Images

A recent survey by Deloitte of over 1000 participants in 7 countries found that outside the US in particular this perception held true. “When asked if they believed that blockchain was just “a database for money” with little application outside of financial services, just 18 percent of US respondents agreed with that statement versus 61 percent of respondents in France and the United Kingdom,” the report stated.

Richie Etwaru, founder and CEO at Hu-manity and author of the book, Blockchain Trust Companies sees it as a matter of trust. Companies aren’t used to dealing from a position of trust. In fact, his book argues that the entire contract system exists because of a total lack of it.

“The hurdle [to widespread blockchain adoption in the enterprise] is that those who have traditionally designed or transformed business models in large enterprise settings have systematically and habitually treated trust and transparency as second, sometimes third level characteristics of a business model. The raw material needed are the willingness and executive level alignment and harmonization around the notion that trust and transparency are the next differentiators,” Etwaru explained.

The volatility of new technology

Blockchain was originally created as a system to track bitcoin (digital currency) ownership, and it’s still used extensively for that purpose, but a trusted and immutable record has great utility to track virtually anything of value and enforce a set of rules. We have seen companies like po.et trying to use it to enforce content ownership, Hu-manity, which wants to enforce data ownership, and the IBM TrustChain consortium to track the provenance of diamonds from mine to store.

Photo: LeoWolfert/Getty Images

Rob May, who is CEO at Talla and whose company helped launch a blockchain called BotChain to track the authenticity of bots, says finding good use cases could help ultimately determine the technology’s success or failure. “Blockchain has a bunch of different use cases, and they are usually either all lumped together or poorly understood separately,” May said.

He believes that in many instances today, companies don’t understand the advantages of blockchain, which he identifies as immutability, trust and tokenization, the latter of which can help finance blockchain initiatives (but which can also contribute to confusion with digital currency use cases).

“Right now, businesses are missing real blockchain opportunities and instead throwing blockchain in places where it doesn’t belong. For example, they are trying to use it for smart contracts, and that stuff isn’t ready. They also try to use it for cases that require a lot of speed, and again blockchains aren’t ready,” he said.

Finally, he says, if you don’t require immutability, trust and tokenization, you might want to consider a different approach other than blockchain.

Please identify yourself

Like any network, identity will be at the core of any blockchain network because it is imperative that you understand whom you are communicating with. Charles Francis, a senior analyst at Accenture says for now blockchains will remain private for the most part, but authentication will become increasingly important as we eventually have blockchain-to-blockchain communications.

Photo:  NicoElNino/Getty Images

“Initially blockchain-to-blockchain connections will be manually set up and you will manage your network in a private model and bad actors will be immediately obvious,” he explained. But he believes that we will require a system in place to ensure we are authentically who we say we are as we move beyond private networks.

Jerry Cuomo, IBM Fellow and VP of Blockchain says that there will come a time when there are multiple networks and we will need to set up systems for them to communicate. “There won’t be one blockchain network to rule them all. It’s a very safe bet. Once you make that statement, these systems need to work together,” he said. “All [the different pieces of networks] need identity and the identity better play across networks. My identity on one network better be the same on another network,” he explained.

For Etwaru it comes back to trust, and a trusted identity would be a natural extension of that. “Transformational blockchain use cases require a network of trading partners to start to operate in a more trusted and transparent way, not just one individual,” he said.

Moving toward adoption

All this said, there is still a steady march toward adoption in the enterprise. As Talla’s May says, there may be open questions, but that just represents a big opportunity for smart companies. “If you are interacting with a network instead of a single company, whose throat do you choke when something goes wrong? I think you will see many companies in the blockchain space do what Red Hat did for Linux. Enterprises need consulting help and better frameworks to think about how [blockchain] networks will work, since Ethereum isn’t a product per se in the traditional sense,” he said.

Gil Perez, SVP for products and innovation, as well as head of digital customer initiatives at SAP says he’s seeing companies with real projects in production. “It is beyond just wanting to do something. We’re doing large scale implementations and pilots. For example, we did one in the pharmaceutical industry with over a billion transactions,” he said.

In fact, SAP has a total of 65 companies working on various projects at different stages of progress at the moment. Perez says the next level of adoption will require a way to involve multiple parties, not just a single company, as with a supply chain example, which involves moving goods and paperwork across multiple countries involving many individuals.

Photo: allanswart

He also points out the importance of making sure there is good data because ultimately, if you have bad data in an immutable record, that is going to be a serious problem. That requires the companies involved to come together and agree to a common system to enter and agree upon each piece of information that moves through the system and that is a work in progress.

May sees blockchain technology transforming the way we do business in the future and providing a more standard way of interacting than today’s hodgepodge of vendor approaches.

“Now that blockchain is here, what if we could launch a standard and have shared marketplace by all apps in a space? So as a developer, you write your [application] add-on one time and it works with any [similar application] that supports that standard, and they share one giant marketplace. But how do you get them to share a marketplace? Blockchain and tokens provide decentralization and incentives such that, if you set the right rules, maybe you could do it. That could be transformational,” he said.

As with any new technology, the more it scales the more the tools and adjacent technologies are required. We are still in the early stages of discovering what those are, and before the technology can take off in a big way, we will need more underlying infrastructure in place. If that happens, blockchain could be just as transformational as May suggests.

Posted Under: Tech News
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