Industrial Talk is onsite at IoT Solutions World Congress and talking to Larry Pang, Head of Business Development at IoTex.io about "Demystifying Blockchain for Trusted IoT."  Here are some of the key takeaways from our conversation:


Introduction. 0:04

Scott has all the contact information for Larry Pang, IoTex on industrial talk, and encourages listeners to reach out to him for more information.
Larry is the company demystifying blockchain.


Barcelona Blockchain Conference. 3:34

Barcelona is an amazing city with two conferences going on side-by-side. One of several large conference venues in the city, and the other is custom-built.
The iot solutions world congress is at the intersection of blockchain and the internet of things, and people are more interested in blockchain these days.
Larry gives his background and what he is doing for blockchain. He was in consulting for five years at Oliver Wyman, a strategy consulting firm.
Larry shares his background in the tech industry.
The psychology of making large changes to tech stacks, and how blockchain fits into all of this.
How blockchain is a way to facilitate trust between people that don't necessarily trust each other today. It's a way for parties to work with each other and give a use case.


How to build trust in the supply chain. 10:12

In supply chain, there is always someone at fault for something that goes wrong. People retroactively seek the truth, and blockchain is a very proactive technology.
Blockchain is a point solution to areas that lack trust. It can be really enabling factor for removing some of the legal aspects of litigation.
Why trust is the biggest challenge of our generation, and how blockchain is a solution that creates trust.
Why blockchain is already a good use case for many of the enterprise use cases, and what the next step is on top of it.


The concept of a smart contract. 14:57

The concept of a smart contract is a taboo term these days. It's not just smart, but it's also open source.
The data that is put on a blockchain needs to also be verifiable, or else everything downstream the business logic lives at work.
If the temperature dips below zero degrees or goes above zero degrees, issue a 10% penalty to the person who was in possession of it at the time.
Today, blockchain has the opportunity to add incentives.
B2B and B2C relationships, and business-consumer relationships. For example, corporations and the way that people sleep, how they sleep, and how they do healthy activities.
Tamper proof, hardware and software comes into play to issue incentives to issue rewards.


Blockchain is going to continue to be here. 21:31

How to get a hold of IoTex, check it out at iotex.io.
Scott shares his thoughts on demystifying blockchain and how it will continue to be a part of the future of digital transformation.
Get more information about industrial talk at industrialtalk.com.




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