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November 19, 2023

Smart Cloud Provides a Compelling Full Stack Solution

Smart Cloud Provides a Compelling Full Stack Solution

Our friends at Oasis Pro J.P. Morgan Provenance Blockchain Foundation Ava Labs have launched an exciting new product with Apollo Global Management, Inc. and WisdomTree Asset Management. Coindesk writes about it here ( I want to opine on two topics:

  1. It is interesting to see where the nexus of permissioning is located in different solutions, ie instrument, exchange, chain, etc. I think regulators are going to want to have at least two, but the notion of a public chain seems inevitable to me based on my world view. I recall when I was at Bear Stearns in the 90's and we had our own network vs using the internet bc we were not sure about how secure it was going to be. This solution creates the opportunity for all of the above and uses the value of each in a meaningful manner. Beautiful...
  2. There is a bias for pushing too much compute function on chain with smart contracts. This creates unnecessary dependency on chains. We need to have resiliency as layer 1 chains will die (think Symbiont) and those who built out processes native to symbiont lost that investment. The regulators will also demand this resiliency. We use symbolic logic structures as the organizing principle for what belongs on chain and what does not.

If you go back to Boolean algebra and the goal to move logical arguments to a purely symbolic and then with Claude Shannon’s insights into a binary variable began with the symbolic argument with four types of functions,

  1. relationships,
  2. variables,
  3. operations, and
  4. constants.

Using this as a beginning point for where we think compute should exist, we think operations and constants belong at the enterprise level or above a chain or a multi chain environment and variables and relationships belong at the smart contract level. This creates the ability to instantaneously re-populate to another layer 1 for a financial instrument if the native layer 1 goes down.

With a "smart cloud" (cloud with automation functions where data is at the edge and has cross enterprise process automation with Inveniam) this provides a compelling full stack solution, for smart cloud data feeding the variables on chain, that the smart contract then drives to a defined relationship (next compute or report in line, with visible or provable proof of process). The smart cloud or a triple ledger solution will be in every single step of the enterprise level or smart contract level calculation. G42

We think of constants as calculations such as a pricing mechanism, using your own proprietary model, or an oracle such as Cushman & Wakefield whose valuation model is not published, using an open source calculation could be on chain. Operations can be governed using our cross enterprise service bus or cross enterprise process automation. This solution embedded in a smart cloud offering finalizes the comprehensive stack.

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