Blockchain Model Canvas

Transcript

All [Music] right, just a mic check. Everyone can hear me. All right, great. Um, my name is Adi Shakar. I work at 3 Global. We're going to be talking about blockchain model canvas. uh any of the strategy or business folks might know the business model canvas already which a lot of uh the product owners use to validate their business ideas. Uh at we use that a lot as well.

What we saw in the industry was a lot of our clients, a lot of industry was looking to hey blockchain sounds great, consensus as a company sounds great, Ethereum foundation is all great. What the hell do I do though? And that was a question which is coming up and up again. We saw all the entrepreneurs coming up and doing great stuff with the technology but the enterprises were a bit stuck. So this is something we did in order to make that easier. Now when you're involving existing business owners, it's much harder for them to you know grasp on to a new technology. We saw earlier on when you grow as an

organization the cost of keeping things in the house becomes hard. It be you are much slower than your competition. uh how do we help those enterprise clients to come up to speed as a global ecosystem of you know we want more entrepreneurs we want to be more stakeholders but in order to get to that state the quicker we get enterprise on this as well the quicker that would happen so in order to do that we want to figure out a way of how do we get existing business owners to know about blockchain if if I have say a $50 million company. I want to invest 5 million in blockchain. What do I do?

Right? How do I take my products and get benefit out of it? This is the blockchain model canvas uh that we have been working on. I'm not sure how visible that is, but it's very similar to the normal business model canvas. The only difference is being we focus more on the intersection between the your product idea and the block the business value rather than just the business value of the product. uh that's how the first things of you know if we just quickly walk through it system touch points how many of these you know if I want to make a change of my product how many of the systems do I need to

change or how many things that I need to like the integration pieces are changing in order to figure that out uh the most interesting box is the second box on the top right which is vertices what all benefits am I getting out of it if it's just hey um am I getting verification I getting identity Am I getting security? Do I need even does that apply to me? Blockchain as a technology is providing that. But is it applying to my product? And that's your kind of like a simple checkbox. Yes, no, yes, no. Anything else you want to put in there? Uh you move on to your dependencies. Say in order to make this happen, what do I need to do? Do I just simply go out and do I need to build the tools or I need go out and build a wallet to make this

happen? Do I have the tools all out there that I can just use and go to market tomorrow? uh your value proposition is why you're doing it right now. This is exactly the same as a normal canvas of you just define what your value is to the existing market. We changed on the right. It's a bit different. Now you focus on your demographic, which is your user, not really your user segment, but more closer on the end user that you're targeting. And then you're looking at the relationships. How are they interacting with the system right now? And what you going to change for it?

The reality of the fact is you cannot go out there in the market and tell people understand blockchain download mist and start using it which is would be brilliant if that could be possible but as of right now we just need to figure out what is the easiest way people can start using application without having to understand blockchain as a technology. Uh MetaMask shout out. Uh so the second piece are your leadership and marketing skills. One of the main reasons businesses will put money into this is if they are seen as a market leader. If I h if I'm a bank and if I can get my all my customers to be like, hey, I'm the most digitally advanced bank, I don't mind putting 50 million

into something if I can get that perception in the market. So that's probably not from a technical standpoint doesn't matter, but from a business standpoint, that is the reality. So uh if you if there's something that would make the people perceive it's valuable, it would be valuable at the end. Uh time and revenue are just the end factors. What is there cost benefit to the company and is there time wise it can it be delivered? Um keeping that in mind let's just just look at a few examples. So uh there is a um a business model canvas uh did a great job. They created a drive slide of it that you can actually use. I copied it, made the

modification. I'm going to run through some sample um product ids. Now these are not real. I they are we have run this through real clients. Probably we have not signed like the NDS we can't share it but I can definitely just you know do an idea and run you through it. So the most famous one I want to change the entire banking industry of the entire world and all transactions that happen there will happen on blockchain. Brilliant idea every I think this is one of the key pieces of the financial industry wants to focus on where the entire system is connected all banks are on the same blockchain and you are able to um send

money globally without any fees instantly. Great. What do I need to do to make that happen? I need to touch you know this my banking accounts my profiles or get all the systems to hook together get every bank to be on the same network hook up to the CRM and yeah so these not might not be real this is what I'm saying it's example so I'm not saying these are the exact ones but just an example of what uh you know you would think about vertices it every single benefit of blockchain is there so if I am able to do this I get all of it uh problem dependencies I actually need to convince every single bank out there to join my network and be like hey uh the end goal

and this is very product specific so what the pranks and transaction I'm talking about all banks are on it so in order to make that this specific vision happen I need all the bankings to be on the same network uh able to get users to use digital wallets uh which you know people just perception wise might not say no and this is not something we feel comfortable with getting over that barrier Um but lots of value propositions dot dot dot is just you know uh there are too many to list but moving a bit on the right side yeah at the end what is the user benefit well it's the same transaction people do today it's not like banking would change drastically just I can do transfer

instantly so the interaction from the user side I don't need to understand blockchain it's just the same thing I'm just being able to do that instantaneously which is a big value Um you see the revenue piece that translates into real revenue. If you can do if you can do faster transaction you'll do more transactions. Uh there are companies out there that are trying this already. Circle is doing this. Uh but doing it as if everyone doing it and banks started doing it then that's a very big value proposition. Time high on complexity need a lot of tools to make it happen.

Have a lot of uh you know dependencies that need to be worked on. So all right fine I ran through the idea probably took what 10 minutes to if you were with working with your team you get your product in owner involved you get a couple of devs involved probably take about 10 to 15 minutes to run through this great guess what we have a 30 minute slot so we're going to run through another time we're going to run through another idea um so the next one I have this problem that whenever someone comes in and I'm talking from the point of view of a bank. Whenever someone comes in, I need to open a bank account. It's very hard for me to, you

know, fill up out a paperwork. That paperwork is then, you know, sent to a banker who put it in in his system. That system then sends off to approval stage that comes back and says, "Hey, can you get the account holder to come in and sign some documents?" Blah blah blah. It's it's probably around 3 to 5 days. Uh it's horrendous, right? Customers don't like it. Customers want their bank account the same day. Uh they want it in the same second and you know people the banks need to be able to verify that information in order to do that. They can't as of right now. So if we were to solve this problem what do we need to do right? We put all our documents in Salesforce or whatever CRM that is

there. That's about it. uh we use ether sign to actually get and this is theoretical right so we use ether sign to actually ver get the account holders to digitally sign their uh documents get it verified it still gives us a decent list of vertices we are touching it it's probably not all but still gives a lot uh valition is much high because you know it's still a lot of benefits you're getting out of it um a lot of you you people would be affected Not just existing account holders with new account holders, the banks themselves. But more importantly, there's revenue. Again, you're getting revenue because if you can shut down any

time scale to be much smaller, they are direct revenue right over there you can capture. So that looks good. So let's have a comparison, right? This versus that. And that's all that's all a business owner needs to see. and it kind of all right this sounds good. Let's do this. Let's make it happen. Let's release it next month. Uh so that's you know just how we have used blockchain model canvas of deciding what products to build. Normally what you would do is you'll get all your ideas together probably might be 10 15 you run through the set like probably a two-hour session run it through your team and at the end you see you can literally

compare them put it on a whiteboard see which top three ideas are there that you really think that can happen in the next quarter given the existing tools and this might change you know tomorrow if you run these ideas back three months from now this might become something your priorities change things become easier but for right now if you do this I'm pretty sure at least one of those idea would be there that you you'll be releasing probably what in Q1 next year and yeah if you do that if you do work with this with your company with your clients and maybe we can actually take Ethereum or just the blockchain and the decentralized networks to the enterprises as well um that really all I don't think we have any time for questions I would say in case

um you If you don't have any application that is this is a code that is being used a lot which is it's great that people you know talk about blockchain a lot but once if you don't get to production there's not much learning there you're not you're just talking. So whatever we do we actually have to get products out there usable by users and that's the only way we validate that all of the things we talk about are real. So if anyone wants to you know ask questions and get a copy of this I guess we might be able to share a slide with this.

Yeah question. Oh okay probably whatever any questions. Yeah we have time for one question about the blockchain model canvas. Well if you have any other questions feel free to contact ID and uh give it up. Thank you. Thanks.