Blockchain City - The Future of Cities Driven by Blockchain (Full Movie 40 minutes)

[Music] hi my name is Ian Khan after meeting with hundreds of professionals experts industry influencers and others through 2016 and 17 I found a severe need across the board to help figure out what the fuss was all about what this new technology was all about what blockchain was all about [Music] blockchain city is the true story of blockchain and the reality of how it impacts us all as people our cities our workplaces our families and our future sometime after the year 2008 an entity or a group of people under the pseudonym of Satoshi Nakamoto came out with the famous white paper that highlighted a new electronic form of currency that would independently change everything about money a new revolution had begun blockchain was the core technology foundation of this new currency and this revolution has now culminated into a global phenomenon where governments private and public sector firms are embarking on creating more value more change and solving some of the world's biggest problems [Music] my journey of understanding this global movement to create more trust secure our transactions and create more value started in the city of Dubai this is where the vision of tomorrow is driving and aggressive strategy of how technology can argument our capabilities follow me on this journey as I embark on a quest to find the truth from those who know best where we're headed in the middle of the Arabian Peninsula one of the most well known cities is Dubai fast-growing metropolis and the epicentre of change in the Middle East Dubai has always been synonymous with progress challenging is the status quo and dreaming big the government of Dubai with its vision of tomorrow powered by technology has embarked on an aggressive plan to enable a blockchain based government by 2020 the UAE also has a national plan to enable blockchain across all seven emirates by the year 2030 [Music] don't fear from technology be smart and how to deal with these technologies doesn't matter of the blockchain or Big Data or any type of technologies even our smart devices as long as we know why we are using it if you don't know how to use and go and educate yourself make sure that you utilize their the best of of these technologies for your own benefit we need to be wise enough to understand what these technologies would add value to my life and for me personally as long as it will make my life much simpler and much easier I will go for it from manufacturing to logistics transportation health care and real estate every sector every industry is set to undergo a radical shift in the next few years potentially because of flocking yet we do not understand blockchain to an extent where we could really be comfortable with it to date technology has been a domain of computer programmers experts and leaders alone but just like blockchain promises democratization of technology we need to break down the barriers to understand blockchain itself we must find out what blockchain really is and more than that how it can be defined by what value it brings a blockchain is essentially breakthrough in database technology it's a new kind of database system that because of its architecture enables everybody on the system to trust the system it's a tool for decentralizing relationships contracts and decision making so that they aren't mediated by gatekeepers of various kinds it's a very powerful idea if you use a little example here to make it a bit more illustrative to the viewers you could think of a transaction which we all observe so let's assume all the viewers here which are not watching us right now would have a little black notebook on their lap and would kind of take notes of all the transactions they are seeing and they are seeing right now a person here standing which maybe not they are not familiar with and that person is holding twenty dollars in his hands so you have super sharp eyes and you can see the ID and everything and this is a legal token so now you see that I give this twenty dollars to this gentleman over here which you don't know but you have seen the transaction took place now you write this transaction in your little black notebook and calculate a little sum to that and you add all the subsequent transactions to that now let's say in five minutes I'm saying oh wait a minute then we enter twenty dollars that we're hundred dollars and I want my hundred dollars back so all the people who are viewing this transaction I would have now to true convinced that their transaction which have been kind of jotted down in their little black notebooks I'm not actually twenty dollars but hundred dollars now how would I do that right because I don't know how many people actually have a ledger have written down this transaction and on top of that I would have kind of pride my way through I have to persuade them to change the entry why would they do that right because they don't know me there's nothing they can gain here and in in parallel all the other transactions which are ongoing because more people kind of doing payments they have to be jotted down as well so they would be super busy and that would prohibitively expensive for me to do so so economically it doesn't make sense despite the various explanations that blockchain is defined as it's still hard to sometimes comprehend the actual technology and for that we must understand it beyond just its architecture one of the most innovative and forward-thinking countries in the world is also one of the tiniest European nations Estonia over the last two decades or so Estonia has really laid the foundation of a digitally powered nation and is now reaping its rewards Estonia is also considered to be a leader in blockchain which in some ways is often a less represented fact stone a kind of had blockchain databases before the term blockchain was coined but I would have to say that Estonia is not a blockchain nation so we don't run fully on blockchain we just happen to be in a position where we created similar databases that are now referred to as blockchain technologies and we use that in our peoples registry and to run our state databases and systems one of the other benefits of blockchain is also mass collaboration and the ease of sharing information to create value the Netherlands with its Dutch blockchain coalition is spearheading efforts to create global awareness and impact it's missing piece to support collaboration between different companies between different governments in a supply chain it can help you to work together and to give you as a person a better user experience make new things possible and yet where would we be without really addressing the need for us humans to live the life of acknowledgement respect dignity and value maybe blockchain can help us realize our true human potential for me blockchain is gonna help me become more me it's gonna celebrate my individuality I feel like the IP of who we are and our ideas will have value and meaning and I think that's going to be a huge shift the idea of blockchain being a radical new technology that can address many different challenges we currently face as people across the world is sometimes hard to accept how can one technology often confused with Bitcoin have so many different applications the answer may be similar to something we faced about 30 years ago with the mass commercialization of personal computing skeptics back then probably asked how could computers be used in every profession how can they increase productivity how can microprocessors change the world today we have overcome all of those questions as time has proved the value of computing technology beyond anything we could have imagined what then are some of the possibilities of blockchain and how can we really use it beyond just financial transactions there are literally thousands of projects that people are building out identity systems reputation systems governance tools accounting systems for us it was just the kind of financial benefit and the ease of actually accessing digital services or public services that you don't have to go to the taxman and stay there for you know two hours and sign a piece of paper that you could do it from your computer it's just comfort and it saves you a lot of time also it saves you finances when we started this marked by initiative 2014 we continued with this kind of research exercise to see what are the advanced technologies emerging technologies that will take Dubai to its next level you know that in Dubai we started digitization of our government in 2000 so we've been until vacant now almost two decades and digitizing our infrastructure we know today whenever anyone talked about blockchain they think about the financial sector but we dig deeper what blockchain is enabling us is doing something like social goods if you for example look into what the united nations are doing or the World Wildlife Fund using the blockchain technology to prevent overfishing in the South Pacific or to prevent children trafficking by using blockchain technology then you can see that they are really kind of societal problems which can be addressed or are currently addressed in in prototypes by block trade agreement from efficiency to identity management financial transactions and more there seems to be a vast range of applications we started as as a publishers and we solve the print media going down we were trying to find the answers you know where it is going what is the media future so we were thinking that we need to give all the power to the voters those who create the media and realize very quickly that there are so many inequalities in the world and that without giving the ownership to those who really create the value in the in the economy there would be no possibility to bring back the trust and create something that will be strong this monopolies that are you know controlling the entire media space now Trust democratization and more they also say that blockchain works as a tool for accountability recording every transaction and immutable unalterable and permanent record of things this in fact helps with tracking information because it's always available on blockchain can industry benefit from this perhaps one of the big challenges that creative artists face can be solved with blockchain related technologies so many examples of how it can change the music industry I mean a very simple example is you've signed a contract for somebody for say a record deal or a publishing deal it's all about percentages and it's about at this point this happens at this point this happens this person gets paid when this is recouped anytime any artist has ever audited a label they've always found money so I think there's something in being able to digitize your contract into smart contracts to help you interface with the services of the future [Music] one of the the biggest bugbears in the music industry that's failed time and time again is to try to create a verified authorised global database of music at songs and repertoire and it's failed time and time again because there's it's been about ownership it's been about this is mine we're going to try and do this all to ourselves but in opening that up and becoming an open database with people can offer that and a tribute they're worth to that and potentially be a part of that that payment in future also makes these things possible I feel finally we can we can create a music ecosystem that is worthy of the music that we love content creators can now be compensated for their hard work and finally fight the war with piracy which costs the music industry of billions of dollars every year but can you and I as content creators benefit with the technology such as blockchain as well we are putting the contents of Wikipedia plus an extra million articles that we've added to Wikipedia on the blockchain what that means is that if somebody creates a new article and adds it to the database they actually mine by doing that some tokens we call them IQ tokens what that means is that you become a co-owner you have a financial stake in the creation and equality of knowledge it seems like challenges within government banking finance and even real estate could now have an answer to create a higher rate of return on efforts work and productivity in general one of our projects is to add efficiency in our reconciliation system between bank accounts normally this kind of transaction takes almost 45 lives and we thought by implementing blockchain it will add 30 to 40 percent efficiency but it gave us 100 percent it dropped that time from 45 days to zero so why not transferring this experience to the rest transactions in the government whether it be internally in our moral sense HR transactions procurement transaction but also the transaction for the users why I should wait like for days or months to buy a house why it's not only like a matter of pressing a button just imagine how complicated bureaucracies are right and translating that into code which is what's required by putting those operations on the block sounds like a very tall order there is natural tension actually between government operations in general and the blockchain because what the blockchain is is disintermediating relationships between individuals distributed disintermediated relationships a distributed ledger so many ways in which block chain is defined today but at the epicenter of every industry services products and a profession is a pivotal need something that forms the foundation of everything that we all in advertently have a need for trust and when it comes to the complex workings of governments across the world the need for consensus [Music] first you have to find the trust in your citizens that they trust the government with our data psychological thing to actually earn the trust and then you have to have a very rigid system of infrastructure with these databases that we can actually access different data pull it together these are the first steps it's definitely not an easy journey but to stay competitive right do you think it's necessary in Dubai we didn't take every sector individually we took it from an experience perspective so when we launched this strategy we focus on three elements the first element is to transfer the applicable government services to be hundred percent to be run on top of a blockchain the second component to support building a blockchain industry in Dubai by attracting startups and entrepreneurs and this industry and the third component to to be a global thought leader one's come to again the blockchain industry once come to transferring the government services we managed to bring almost 60 different bodies whether be government or non-government and we came up with a 20 use cases that by 2020 will be transferred to to be run on top of blockchain one of them is the real estate but other is having health health records on top of blockchain educational records on top blockchain and so forth and by bringing all these government agencies and non-government agencies in the same room this by itself was a huge success because the main challenge between in any government not only in Dubai but even globally is the silos happen between government entities they don't talk to each other at the European blockchain center we do workshops with politicians where we discuss what needs to be done and where to start one very important building block is how you deal with responsibilities in account how do you regulate blockchain startups as they are virtual and decentralized and distributed in these autonomous organizations so it's really difficult to say how to regulate them and how where they are creating value so it's important for these governments are for this Calibri political decision-makers to understand how their system work and how they get how they can contribute to growth and value creation in those countries [Music] from some of the largest cities to small towns everyone seems to be driven with this need for change and the story of one small town on the outskirts of Zurich Switzerland to become an outlier is an inspirational story the municipality of Zook is the first in the world to experiment with cryptocurrency payments for governments and also to enable voting over blockchain while this may mean nothing for established democracies in the modern world this could have a deep impact on countries where equality transparency and true democracy is just a notion how did the small town also refer to as Krypto Valley start with an idea so profound that it could have a worldwide impact the City Council of souq five persons from five different parties we wanted to know what's the difference for example between blockchain and Bitcoin and so we invited a young student who explained us this difference we didn't understand everything we decided we accept Bitcoin for payments of certain fees of our city had administration not taxpaying this would have been a little bit too risky and we didn't ask any experts about this he said just do it let's try it and it was really the first time I think in world history that city administration that public administration accepted a cryptocurrency and I think it's a good and an easy story to explain people but what blockchain could be and what use case is sexist about bok choi [Music] collaboration working together and creating an ecosystem all seemed to be the right approach from creating think tanks to councils that help drive the mission [Music] we've seen already many cities and even private sector approaching us to take lessons learned but sometime also taking the same implementation to be implemented in their cities working very closely with the Estonian government working very closely with the Indian government a Maltese government to share these experiences actually having the the largest blockchain summit run here in Dubai and attracting more than 100 speakers and more than 6,000 attendees but this by itself is a success story by how we shared our experiences here in Dubai and transforming it to the to the world by having this kind of a platform a lot of cities are working on smart cities well you can use blockchain to build real smart cities instead of only talking about it so focus on the on the topics which are already important in your city for example streetlights with a sensor in it and then the sensor or the street light is broken the sensor triggers a smart contract and the smart contract sends out a micro deal and then a certified repair man has fixed the streetlights then he gets paid immediately you can't only read about blockchain you must also start these small experiments and the technology is good enough to run those experiments to understand better what will be the opportunities and also the challenges blockchain for in your own City blockchain technology is often called an enabler for trust but what does this really mean does it mean that everything stored on blockchain is accurate does it mean that blockchain will correct any inaccuracies in the information or this just mean that blockchain has a way to account for information every single time in my understanding technology is a big factor for creating trust just as we are sure that aeroplanes fly and cars can drive that electricity will light up in a room at the flick of a button if it's not trust that technology enables then what is it how would the distributed computing of things such as voting rights enable trust there are many questions that still need to be answered it's really kind of something which is interesting because the discussion around trust is something which is kind of rooted deep in human beings and maybe you trust institutions but essentially they are also human beings now with the promise of blockchain kind of many people argue that there is no need for trusting anymore because there is certainty well of course they are still a need for trust because now you have to trust the technology but the piece which the technology takes care of namely the visibility of the transactions which are now transparent in the open daylight that is something which creates trust that that transaction is secure right but still kind of the the trust element is still here but it's kind of improving the certainty in a transaction there are these fundamental kind of psychological boundaries in older societies I would say people who don't trust their governments at all because they've just had a very bad history of data breaches and the government using their data in a none efficient way in Estonia I can say that we have a very tough data privacy laws once your data is given to the state they can't really use your data if they don't have ground for it so this is this is a very serious offence if someone looks at your data and they don't have a reason to look at their data and we also try to ask the data only once if you have given your data to the government there's no reason why you should do it again blockchain technology will profoundly transform economic social and political systems it is a new trust architecture and we're gonna be able to take essentially thousands of years of technology that we've built up to this point and place it on top of more sound foundation a more equitable foundation also that said it's gonna take time for this brand new technology to ramify it it requires greater scalability on the public side of things you don't have a lot of scalability and you don't have a lot of privacy and confidentiality you you can do that in some ways but we need more robust mechanisms for privacy and confidentiality we made an app for the transportation of toxic waste and when you transport toxic waste there's a lot of administrative burden almost every truck with waste will cross a border but if the truck can only use this application until the border it doesn't make sense at all you must work together with the other countries the truck is passing so it was immediately for us we must work together with the better with Belgium with Germany so we must collaborate with governments worldwide to share prototype to share knowledge and to make decisions you can also learn foster working together usually in Switzerland trust in government is high that's a good place for making tests with such a system I think it's a better system than for example the e-voting systems we already have but they are on a centralized computer the best advantage this system has is you can always check is my vote my ballot this could be also a measure against corrupt states maybe okay the dictator would have to accept this system I think that that could be a problem you also can be a little bit critical that that's I think that's necessary that's not stupid not to be enthusiastic you must do you must be open for this new technology and yeah I think so you get trust with daily experience with simple use cases with good stories to tell to the people Thanks storytelling is the most important thing yet the future of many ambitious projects and solutions of problems is on the horizon and blockchain could save the day however how far is this mass adoption and what would it take for the world as we know it to run on blockchain is there an unrealistic expectation mixed with hype that is somehow diluting the real message of blockchain how would blockchain work with some of the upcoming technologies including artificial intelligence a revolutionary way of self learning robots and machines being able to make decisions on our behalf or the Internet of Things the technology behind autonomous cars connected homes and beyond [Music] the next few years will be very short time to tell but when we talk about five plus ten plus years the Internet of Things will definitely have an effect in the next five years connected by some kind of identity so I do believe that there has to be a global form of identity if people are in different societies and they want to be connected with each other and blockchain technology will play a major role there to connect these different databases if you look at the convergence of different technologies right now as blockchain AI and in other things right then it's interesting to see that exactly there you see topics like industry 4.0 or autonomous vehicles autonomous cars and you think about those kind of machines the smart machines kind of packed with sensors driving over the street with the need to coordinate with other vehicles on the street then you have sensors you have the Internet of Things you have kind of decision-making which is kind of based on probabilistic and probably some AI elements and on top of that you need to have a communication layer an inter organizational or in this regard a system in an operating system across the different vehicles which makes the transaction secure and certain so that you can know with certainty how those cars communicate in order to kind of maneuver through the traffic but it's still very immature and the more projects around with locked-in technology the more aware you are of imperfections at these moments and the more we study on the security part or in illegal parts the more I understand how much work there is to do and stand better and to regulate I think it's very promising that a lot of governments are taking the lead goes much faster than with the rise of the Internet and I don't think that's a that's a bad thing I think it's normal because we've learned so much from the internet revolution it's normal that it goes faster this life a future driven by a technology that has not been with us for many decades and the rate at which blockchain has matured is incredible is this all a high risk value proposition that can potentially have a fatal result do we need to be able to create certain maturity milestones before we can truly adopt technology at a mass scale perhaps the way we have traditionally adopted technology is also under disruption what should we as regular people expect from the future and how should we accept tomorrow as it's driven by the convergence of blockchain AI and the Internet of Things [Music] many of my other city managers colleagues globally asking me don't you fear that blockchain will disrupt your role as a government when talking about government we have main two elements or roles to authenticate transactions and make sure that this transaction is secure blockchain will allow us to even take these two roles to its next level to make sure when there is an authentication component it's it's happened faster and even safer for normal people I don't think they should worry about blockchain or AI or IOT [Music] they're never going to use a blockchain they may use crypto currencies they may use applications that software developers build on block chains but they don't really use the World Wide Web protocols right now they just use applications that that software developers have hopefully configured into compelling elegant user interfaces where you can essentially have greater agency in your professional life greater agency in your social political interactions so you will be more in control of what you're doing and in greater ownership if you think about kind of having in the future control over your digital traces for now we know Facebook and the like they have all the data and we have no control over them even though this data belongs to me if you think about using your mobile phone or your credit card or your Facebook account we grew up with this notion of in order to be part of the digital world we have to pay and we pay with our data and we sort of bought into this argument that is not a given we can think of systems which are designed in a way that you stay in control of your digital traces that is important for people to understand that this is potentially the paradigm shift there could be something like I've paid a Facebook on blockchain where you are always kind of in control of your data but also means that you have to have a digital mindset which allows you actually to be able to manage your digital persona your digital representation and that is something we also have to learn as we accept and know that we are responsible for our body that we are also responsible and in and accountable for our digital person in the digital sphere this technology is really working and it's really easy to to to use this technology you only need a cell phone and not much more and that's something even people in Africa they have it they can do it it's a chance for people to to have more democracy in the world and the real goal is to make the world better it's not making money first maybe after that but the first step is to improve this world and here technology can help I feel like the things that you want to do in life the things that you're passionate about what helps you to be good for yourself to your friends and to the planet that combination is where I feel this blockchain is beginning to help us be their combination of that AI and Internet of Things that combination of intersection of those things and the people being able to follow their dreams ultimately we want to live in harmony with our planet and want to live in harmony with each other [Music] [Music] tomorrow is not here yet and despite that fact we are actively building the future with our actions whether it is blockchain or any other technology perhaps something that has not even been invented yet what is the path for us as a race as humans on this planet to make this world a better place it may seem unreasonable but our ability to question things and create paths to do things differently has always led us to change the status code whether you are someone who is working within an industry or striving to be a professional whether you are a bystander to this revolution of a technology driven world or an active participant in creating this change you cannot avoid being part of the space through which Humanity is currently going through this is perhaps one of the most incredible times we have ever seen because the amount of change that has happened over the last 30 years and that potentially will happen in the next two decades will redefine us as change makers and dreamers [Music] for now the dream of changing the world one town and one city at a time is slowly becoming a reality through the trailblazing efforts of early adopters who questioned convention and break stereotypes this is the right time to join the race no matter what your pace is this is the best possible environment to start learning about how the world is changing this is a unique opportunity to be part of something where all of us can create value together and turn the dream of happiness fulfillment and positive change into reality so say yes the positive change and accepting that change is the only constant [Music] [Applause] [Music] [Music] [Applause] [Music] [Music] you

Channel: Ian Khan

Views: 224,458

Rating: 4.8585768 out of 5

Keywords: Ian Khan, innovation, value creation, meaningful conversations, tech speaker, futurist, tech expert, mobility, blockchain, iot, internet of things, analytics industry, industry expert, 7 axioms, meani, culedger, ian khan, blockchain city movie, tedx futurist, ian khan tedx

Id: I6fadL-0VRw

Length: 41min 8sec (2468 seconds)

Published: Fri May 10 2019