That's a gain inside the NASDAQ folks of 2.3%, 2.4 in the S&Ps and 2.4 in the Dow Industries. Now that being said, check this out, man, because this is really cool looking at the highs of the lows of today. I mean, this was a heck of a market. We take a look at it, we had a low, so picture, we had a low today of $36.41, $36.41, okay? We're at $37.64, you know, bottom line with 124 points, and not only that, now this is what's going on also, this is the second basically bullish engulfing that you have, you know, this market wants a higher price, man, and I suspect it's going to get it pretty quick. We go into the three cues, we take a look at the cues. So the diamonds are doing an ABC up, that's a confirmed ABC up, took the B point out, took it out with volume. The cues will probably go after it on Monday morning, the cues, that number, the B point is $277.21, it would need 69 million shares, we did 73 today. You get that, you have an ABC structure on the way up. That one there, they were all good sized ones, $254, $64.74, you got $23 on that one which gets you just about $290, what's that up here, what is that, yeah, $293 is up there. So there's big action, man, and you can see the diamonds, the bottom line, that took the B point out, took it out with volume, the Dow has been leading this, which is really wild, man, there's the B point in the diamonds, $308.38, you need 4.6 million shares, you're at $310, you get $5.1 million, the diamonds are on their way up to $325, that benchmark is on $912, folks. And then bottom line, everything stopped moving, gold stopped moving, you can see it's just amazing how what currencies and bonds can do, man. The gold contract went from $16.21 all the way up to $16.60, and Sunday night, folks, if you haven't been in the tag is then, it's a dollar, man, it's a dollar, it's a dollar for the year. Come on in, man, we're having a blast in there, you've got a lot of bright people, you've got a lot of great traders, you know, check it out, man. I mean, it's a great vehicle, you know, trading is a lonely sport, man, and you know, it's much better having people with ideas, man, no doubt, especially when you're in a losing position, man. We're all winners today, I think, we'll see. Have a great weekend, folks, have a safe weekend, come back and visit us Monday morning, be out there growling and prowling all weekend, and have a great one, man. Thank you, bye-bye.


Good evening. Our sun is going to die. The good news is it's going to be a few billion years before that happens, and when our sun does die, it's thought that our sun will become what's called a planetary nebula, one of the most beautiful objects in the night sky. You can think of a planetary nebula as the corpse of a star after it's run out of its fuel. And now the really cool thing is we can get a preview of that, what the sun's death will look like by just pointing a camera and a telephoto lens to the right spot in the night sky and taking a photo, looking for a little teal green circle in a sea of stars. This is a fully processed photo I took last night of a planetary nebula called the Dumbbell Nebula using this setup right here, just a telephoto lens, a stock DSLR camera, a remote shutter, and a tripod. And if you'd like to learn how to do this yourself, check out my video right here where I go through the process step by step.


Hey, Psych2Goers. Have you ever felt like you had nothing left to give at one time or another? But what happens if the state of depletion becomes all we know? Feeling emotionally drained can affect people from all walks of life. We live in a society that prides itself on productivity and achievement at all costs. It's no surprise that emotional exhaustion becomes normalized in this context. So here are six signs that you're emotionally drained. 1. You're tired of pretending. Do you often hide your true feelings?  Managing our emotions is essential to putting our best self forward when it comes to performing well at school or doing our jobs well at work. Sociologist Arlie Haaschild coined the term emotional labor to explain this concept. We engage in this phenomenon every time we suppress or introduce emotions to fulfill the requirements of our jobs, school projects, or other social roles. A study discovered that surface acting was related to emotional exhaustion. Surface acting is a form of emotional labor as it requires us to fake emotions in the workplace or in school. The constant state of acting in ways we do not feel can be emotionally exhausting and can even reduce our capacity to handle daily assignments and work demands. 2. You lack the motivation to do things, even your passions. Are you working very hard to get that promotion at work or to get into graduate school? While striving for these goals is important, how often do you find yourself abandoning other dreams, hobbies, and self-care practices in the process? When you reach a point of emotional exhaustion, passion projects may lose their appeal. You become hyper-focused on achieving external goals and forget the importance of taking a breather from all that workload. This could be anything from meditation or reading a book that has nothing to do with your occupation or school. Taking a break is a good sign that you're taking care of your well-being when you rediscover your energy for play and creativity. 3. You feel stuck in your current life situation. Do you feel like you lack the energy to make changes, no matter how important they are? Or are you stuck at a job that you hate or in an unhealthy relationship you don't know how to leave? You know that you need to make a change, but just the thought of all that work required to shift your life in a different direction is overwhelming. Feeling stuck is often a sign that you need to process your priorities and feelings. However, the way to feeling emotionally drained can hinder your ability to develop new insights or solutions for yourself. You may even tell yourself that being stuck is your only option and that things can't improve. It's not true. Or your sleep patterns have changed. Do you always feel tired or the need to sleep excessively? You may notice that your sleep patterns are all over the place. Maybe you're stuck in a cycle of ruminating about your mistakes or your to-do lists, rendering you sleepless. Insomnia can develop into serious health concern issues on its own. In fact, insomnia is often linked with other emotional and mental disorders. Losing sleep can make it difficult for your body and mind to recover from the stress of everyday life. When sleep problems become chronic, it can be even more challenging to recover from emotional drainage and fatigue. 5. You feel overloaded with responsibilities You feel like you're being pulled in way too many directions. One study found that juggling the demands of school, work, and family often drained the resources and energy required to thrive in all roles. Heavy workloads can leave to work-family conflict. Unsurprisingly, those who experienced greater work-family conflict also felt more emotional exhaustion. 6. You feel like you're losing control Emotional exhaustion or burnout puts you in survival mode. You don't have the energy dedicated to regulating your emotions. This can lead to irrational anger or emotional outbursts that may seem to come from nowhere. You might take your anger or frustration out on your loved ones, which can lead to dysfunction and conflict in your relationships. These responses of chronic stress often highlight your need for self-care or other spiritual practices like meditation or prayer. Every one of us is vulnerable to emotional exhaustion. Recognizing the signs can be the first step to knowing when we need to rest and reset. Have you experienced any of these signs, or do you know anyone around you who might be experiencing them? Do let us know in the comments below. If you found this video helpful, please like this video and share it with those who you think might benefit from it. Don't forget to subscribe to Psych2Go for more content, and thanks for watching. We'll see you in the next video.


Okay, Google. Let's greet everyone in the hall. Hello there. So good to talk to you. Okay. So, sorry. Google decides to greet us with the music. Okay. So, hello everyone. My name is Bond James Bond. Really? But just kidding. What's in the name? That's what William Shakespeare said in Romeo and Juliet. So he was not referring to names as such. So what were the names? Names were just the tags that were used as convention to describe something. People started referring to things with certain random terms and those random terms then became conventions that we carried today and we started referring to them as names of the things, people, objects and everything. But seriously, that question, what's in the name? That stuck me. And I thought let's explore if this question from the real world is still valid in the virtual world of the virtual bots and AI assistants. But what are they? Aren't they same? Don't bots, assistants, are generative AI? Aren't they same? Let's try to figure out if they are actually different or they are sides of same coin. So basically bots and assistants differ from each other with their design and purpose. Bots come with more of specific offerings and they try to handle requests that are restricted to a particular domain.  They spread across domains, they handle multiple things at a time, but then both of them, they increase the delivery of the assistant that they get to you. They help you as a second person who would have actually helped in a virtual space and overall ease your life to a greater extent, making the overall cognitive load go down. Let's try to go much more in detail on the differences between bots and assistants based on their applications. So the bots are usually used for 24-7 assistants, for consumer engagements, to increase lead generations. They are used to provide recommendations and then they are available within a system. They are part of your websites, you log onto a website and a bot jumps in from the bottom. You open a mobile app and the bot gets in. So they are restricted to a system, but what about the virtual assistants? So they can be omnipresent across the system. They can be there in your car, they can be there in your smart home devices and they can handle multiple things together. They can work with third-party apps, they can book an Uber for you, they can order your food from Swiggy. Bots don't do that. They're far more restrictive. Your assistants, as we all know, are the likes of Siri, Alexa, Google One, Bixby for Samsung, and then bots are restricted to your Aava or Erika or even a chat GPT is the next generation of the bots. So as I was talking about before, let's see what the specific usage is. When you are within a system, you open the system, you are greeted by the bot. The bot says, hey, why don't you tell me what's your problem and I'll solve it for you. And then you start with entering your problem either through chat or through a voice. But when you're on a virtual assistant, you need to awaken them. They're there in the system, they're there in the room, they're there in the ecosystem, but they're in a sleeping mode. You need to make them awake by saying, okay, Google, then the Google gets awakened and it listens to you. So for this purpose, you need a term to address the virtual assistant. But when you're on the bot side, the bot is the one who is going to start the conversation with you. So in the last year, we have the rise of chat GPT as it has become the largest growing software product across the globe. Google's and Baidu and Microsoft, they were not going to stay back. They also got their own versions of know it all bots. There are also other platforms which have decided to use the chat GPT's AI board and get their special purpose bots. So like chat spot is primarily used for events to have communication within the parties, sharing of information only for an event through chat. We have doc GPT that lets you upload a document and then you can chat to have more detail information about anything that's within the document just to understand that particular document. And then we have some completely unheard of application. Like just last week, we had something called QCPT that was launched by Excel Entertainment as the movie Fukure 3 was about to release. So that particular bot would give you answers as if you're interacting with Chucha and the character is responding to you. So these generative AI bots are going to be there and go forward. Now let's have a brief look at the assistants. We are Google's and Siri's and Bixby's and Alexa. What all they are doing? They're helping you. They're managing your calls. They're managing your communication. They're ordering food for you. They're ordering your groceries. They're entertaining you. They're entertaining your kids. They have managed a large part of our life and made it extremely convenient for us. There can be find them. There can be anywhere. In this whole room, we might have so many virtual assistants sitting on each other's phones, smart devices, etc. You can have them in partnered communications. You can have them inside your headphones. Your cars have them. Your TVs have them. They're everywhere. So let's have a look at various bots across the globe. Since I come from the banking industry, let's start with banking and see how their names change, how people have started naming their bots. So starting with North America, we see two main trades going inside North America. One is the identity, the brand identity, and second is the impact that the... Sorry, just a second. Okay, that the bot is trying to create. For example, if you see Bank of America's bot, it's called Erika. Now, Erika borrows Erika from the word America and forms its identity around the brand name. You have TD Bank, which has a bot named Clary. Now, Clary is a short form of Clarity that they want to show in the system, and the bot is said to give you Clarity about their system. Now, Alibank combines both the words. Ali has Ali from its name, and it's assisting the user, so assist. So the name comes as Ali assist. Capital one, on the other hand, uses part of its name and rearranges it as an anagram to get you Eno. Royal Bank of Canada has no me, which is essentially the term as no me, a common term to use, but it's trying to say no me. And then Wells Fargo settles for a part of its name, Fargo, as the name of its bot. When we come to India, we have the same trade in continuing, but there is one more thing that gets added, and that's acronyms. So HDFC Bank has electronic virtual assistant, which is your IWA. SBI has SBI's interactive assistant, or code named CIA. Then Kotak Bank uses the same analogy, but then takes the pronunciation out of it, and names it KIA. ICSA Bank takes the I from their brand name and gets the friendliness together to give us IPAL. And Access Bank takes the name Access, and an emotion of freedom and pleasure to combine it to Access AHA. Andhra Bank takes A and B from the name and says hi to us with a B. When we go global, we have the same term in continuing, and we have an addition of popular regional names getting in. Commonwealth Bank from Australia continues the acronym trend with SEBA, but then ILA Bank from Middle East gives us Fatima. Now Fatima is the most common name for Middle Eastern region. In Europe, what we see is the gender equality and the neutral gender they also get in, and then bots provided by the bank include multiple gender. So for ING Bank, they have three bots. One is Inga, one is Mari, and one is Bill. The SE Bank from Sweden has Aida and Abilia. Again, these are popular names from those regions, but then you also get an option to pick a gender you want to converse with. Now, same trend is there in Hong Kong with HSBC giving us Andrew and Amy, and then Hansing Bank in China gets Haro and Dori. Now, what's the difference between these bots, which are of different gender? Technically speaking, nothing. The backend engine is the same, but the front end gives you an additional window to treat whatever gender you prefer to have a conversation with that gender. If you move to some key banks, they decide not to go with any name. They just use their brand name, like Santander, Barclays, Lloyds. They just have their name going in as name of their bot. They don't have any persona around it. They don't have any character. It's just a name. Now, outside banking, there are some strange trends. So these trends continue, but then the logics change. For example, the Brussels Airport uses the three digit airport code BRU, and the pronunciation of the name Brussels combines together to get us Bruce. Now, Victoria's Secrets, since it's a brand for ladies, it combines the color of feminism, pink, with their brand name initials and gives us VS pink. And then a lot of hotels, they use the term butler, which is very common with their business, and convert a bot to a botler. So what should you consider when you're naming an assistant? What is the purpose of the assistant? Who are you going to cater it for? What the target audience is looking for? Do you need a personality when you're trying to give something? When you consider all these things, then you can decide what should be the overall persona that your assistant needs to provide to your end customers. What about gender? What gender should be the bot? Now, Amy, Debbie, Inga, Mia, Kora, these are not random names. Ten banks out of five by the largest size of assets in Europe in a study by Forbes show that they have bots which either have a female persona or a female voice. Now, that trend is very common to human because we start getting a female voice acquaintance when we are inside of a mother's womb as a fetus. It gives us soothing and calming feel and makes us understand the things easily. Female voice has also been considered as a good articulator for vowel sounds and that's why studies have shown that in workplace it's better to articulate female voice than a male voice. Pardon me that this study was conducted only at the workplace, so if you say that we are not able to articulate what our spouse are saying at home, that's not included in the study. Female voice gets easier to understand when it is at a higher pitch and particularly that's why it was also used in Second World War to give instructions to pilot who are flying the fighter jets. There are innumerable of studies that show that female voice is usually preferred across the Americas. But then the social commentators come in and then they say shouldn't we go for a gender neutral voice, shouldn't we go for something that gives user a choice to select from. So again there are studies which show it's sympathetic nature of the female voice is what is preferred by the users. Now apart from just the voice quality it's also required to know that the overall experience, how the product strategies, what is the brand perception for the user, these things are also extremely important and they need to get reflected in the bot. But in the first place, do we really want to converse with a bot or do our users just want their problems solved? So now Alexa, Siri, Google, they are all in a particular ecosystem and people are extremely okay to have a conversation with these virtual assistants. But bots are on a particular website, they are on a page. You don't need to announce your arrival on these pages to say that hey Bank of America, I'm here, now talk to me. They already know that you are there and they ask you what your problem is. So having a chat interface or having a voice interface is actually a good thing from a user's perspective but it should not get annoying. I remember here the Microsoft Clippy which was there in 97 to somewhere around early 2000s as part of Microsoft Office. It was a cute little U-Clip that used to appear on our screens and help us with show us some gestures and all. But people don't want things to be cute, they want them to be helpful and easy to use. The moment it starts to get annoying, it needs to go off. So when we are getting into our bot configuration, we need to make sure that it helps our users and lets them do what they actually want to do. Now, people like to name their positions. Several people name their cars, people name their mobile phones, their knickknacks. And this is because as humans, we like to assert the control over the tools by naming them. When you say, hey Google, do it for me. Whosoever you might be in your life, you are putting that control on Google and getting a job done from the Google and that gives you pleasure. And when the job is done, it gives you an additional pleasure. So what can we expect in the future? We have started seeing this trend going with the generative bots that the personalization has started getting in. They would learn about you and then they would cater to you as per your specific requirement. The other thing that will get is the SME bots. You might expect a banking detail and then your Alexa would take your bank's virtual assistant for additional help and the SME assistant would help you. Your Siri might involve the IKEA assistant who would help you in fixing your wall unit. So we can see these things in the future but then to reach that level, what we need to do is go step by step, start with bots, convert them to the IVR vocal bots and then expect them to learn things so that they can be converted into virtual assistants for the user. Now, when you're planning this strategy, do think from all perspectives while you're naming your bot or virtual assistants. Thank you.


Good day, everybody. Dr. Sanjay Sanyal, Professor, Department Chair. This is going to be a demonstration of the venous drainage of the heart. So we have removed the heart from this cadaver and I'm holding it in front. Let's take a look at the anterior intraventricular groove. And we can see running in the anterior intraventricular groove is the LAD or the left anterior descending artery. And accompanying that, we have this vein here. This is the anterior intraventricular vein. So this is the beginning and we can see the full course of the anterior intraventricular vein here and we can see it going under. This anterior intraventricular vein, as it runs up in the intraventricular groove, it reaches left part of the anterior coronary sulcus and there it makes a bend to the left. This is the place where it becomes known as the great cardiac vein. And if you notice, when I pull here, it is moving here. So this is the continuation of the anterior intraventricular vein. This is the great cardiac vein. In the left part of the atrial intraventricular groove, it is accompanied by this artery that we can see here. This is the circumflex artery. So both of them run in the left part of the atrial intraventricular groove. And here we have an anatomical curiosity. Normally when an artery and a vein run together, the blood supply in the two of them are in opposite directions. That is what we know from our normal knowledge. But this is one of those rare cases where an artery and a vein, both of them are running together in the same groove and the blood flow in both of them are in the same direction. So this is a situation where we have the circumflex artery and the great cardiac vein, both of them running right to left. Blood flow is in this direction. Let's continue with the cardiac vein. The great cardiac vein now runs in the posterior coronary groove. And somewhere in the posterior aspect, it is not visible in this cadaver, a vein will come from the left atrium. And that is known as the oblique vein of the left atrium. Which some say is a remnant of the left superior vena keva. Once the oblique vein of the left atrium opens into the great cardiac vein, then the whole thing becomes known as the coronary sinus. And now we are tracing the coronary sinus. This is the coronary sinus. And the coronary sinus then continues in the coronary groove and it opens into the, and this is the opening, it opens into the right atrium. It was filled with clot and I removed that clot. And so we are seeing the opened out portion of the coronary sinus and we can see the remnant of the clot deep inside. It opens into the atrium near the interatrial septum, very close to the atrial ventricular node. So this is the full course of the coronary sinus, how it is formed and how it changes its name. Now, let's take a look at the tributaries of the great cardiac vein and the coronary sinus. So again, I'm turning the heart. We have already mentioned the formative vein, namely the anterior ventricular vein. So we shall not talk about that anymore. Let's take a look at this vein here, which I have lifted up and we can see it is opening into the great cardiac vein. This is the left marginal vein, which accompanies the left marginal artery, which is a branch of the circumflex artery. So that is one branch. Of course, there are many other branches, but they are unnamed branches. Now I'm turning the heart slowly. Now we have come to the diaphragmatic inferior surface. This is the posterior ventricular vein, which runs on the diaphragmatic or the inferior surface of the left ventricle. And we can see it is opening into the coronary sinus and we have separated it here to show the arteries. This is the coronary sinus. Now I'm going to turn it even further. We can see yet one more vein here and I've lifted it up here and we have cut it out from the coronary sinus. This is the middle cardiac vein. The middle cardiac vein runs in the posterior intraventricular groove, accompanied by the posterior descending artery, which is this one. And this opens into the coronary sinus. And finally, there is supposed to be a vein on this side here. That is known as a small cardiac vein, but in this particular cadaver, we do not see it. In all probability, it has been obliterated because of the previous myocardial infarction. So therefore, to summarize the four important tributaries of the venous system are marginal vein, the left marginal vein, posterior ventricular vein, middle cardiac vein, and the small cardiac vein, which usually opens at the coronary sinus near extermination, but we cannot see it here. So these are the various tributaries. At the opening in the gym, the coronary sinus may have a small valve and that is known as the valve of the coronary sinus also refers to as the thepsian valve. Which is not of much significance. There can be anterior cardiac veins, which open directly into the right atrium. And there can be smallest cardiac veins or venae cordus minimae or thepsian veins, which directly open into the chambers of the heart, but mostly to the right atrium. Those are very small and they cannot be seen here. So this is about the venous drainage of the heart. Thank you very much for watching. Dr. Sanjay Sanyal signing out. They will use the camera person. If you have any questions or comments, please put them in the comment section below. Have a nice day.


Hey guys Dean Harper for Mountain View Dodge at the corner of the QE2 in highway 27 just outside the awesome town of Olds I Hear this a lot Dean. I don't need a four-wheel drive. Everyone has four-wheel drives. They're lifting them up I would love to see a two-wheel drive truck. I could lower it or customize it do what I want to do Know what you guys have done to it. Well, have I got the truck for you? I just happened to have a two-wheel drive Ram here. Oh, excuse my hand. Keeps kicking the way check this out. You have the five-seven hammy true blue base Ram Two-wheel drive Has the five-seven box on it Still has lots of room inside Being a crew you have your storage underneath so room for your stereo systems You can hide things in the cubbies down below A lot of great features this one does have a spray and liner, but here's the best part right there 45 5 reduced to 26 9 that's a hundred and seventy nine bi-weekly All in that's tax and everything So what are you waiting for pick up the phone? Give me a call<PHONE_NUMBER> email me dharper at mountain view dodge calm and Let's discuss getting into this truck and how you can really customize it and make it your own Not the way we will customize it. You don't like how we lift the four-wheel drives Slam this thing. It looked pretty hot Pick up the phone email me talk to you later


agree. Okay. So here we are, started recording gentlemen. I'll go through the reading on the policy. Linux meetings involve participation by industry competitors. And it is the intention of the Linux Foundation to conduct all of its activities in accordance with applicable ant trust and competition laws. It is therefore extremely important that attendees did missing attendance and be aware of and not participate in any activities that are prohibited under applicable U.S. state, federal or foreign ant trust and competition laws. All of types of actions that prohibit the Linux Foundation meetings and in connection with Linux Foundation activities are described in Linux Foundation ant trust policies. If you have questions about these matters, please contact your company council or if you are a member of the Linux Foundation feel free to contact Andrea of the Grove of the firm of Gaspinger of the Grove LLP, which provides legal counsel to the Linux Foundation. Hyperledger is committed to creating a safe and welcoming community for all. For more information visit our hyperledger code of conduct. So welcome everybody and welcome to Joel again after his meeting on the 23rd of June. This time they will show us EBL meets EPU what it calls digital made in heaven, digital marriage made in heaven.  Can you hear me, Joel? Joel, you muted. Can you hear me now? Yes, I can. There's a bit of echo. Okay. Have you ever seen my screen? I assume. Yeah, we can see it. It's good. Yeah, perfect. Okay, good. Yeah, so if you call it a marriage Andrea, it's a match actually it's a it's a match made in digital heaven. First of all, thank you Hyperledger and Andrea to to invite me for well probably my last Hyperledger presentation for this year. I'm quite certain of it. The trigger for this presentation was actually an article I wrote and indeed it brings two key documents in trade together an economic bill of lading and an EPU and I will explain more about the EPU. So the agenda for today first we'll set the scene of it. What's the background because EBL meets EPU. It's a bit cryptic so I'll give a bit of background. Also, what is China systems really doing in this area? Then I'll go into the business case itself because that's of course the key part of the presentation. I'll also give some insight into the legal challenges that that exist like with everything that you try to do in digital trade today. The criteria that we've applied when we were defining the solution and then the last part of course is probably the most interesting part is a high level description of the solution because we are of course still developing this. We've written an article about this. We've done the design and the development of the starter. So let me start by setting the scene first because people will probably ask what is China systems really doing before diving into the topic of this digital collection. Let me first position China systems of course. China systems for those people who do not know us, we are one of the leading trade and supply chain finance solution providers. So we provide back office solutions to banks also front-end solutions, electronic banking solutions to the customers of the banks, the SMEs and the corporates. So that's how China systems is traditionally known in the market but for I think just for more than a year now China systems has established a core team of experts on I would call it digital trade because we have of course a history in for 32 years now working in trade. We've probably integrated to about every single system that exists in the context of trade and we've set up a TDS team. It's a trade digitalization services unit which is composed of business and technology experts on optimizing trade. The objective of this unit is to look at all efforts that we can actually have in the collaborative trade space. So whoever is in trade we all provide a piece of the puzzle and it's very important to understand who is left and right of you not just companies but also data-wise. What happens before you start getting involved with this trade transaction and what happens after it because ultimately if you want to optimize trade it's very important to understand the ecosystem you're part of get to get out of your silo as you say. This unit does not only provide services on China system solutions of course we love to do that to provide our services related to only China systems back of some front end solutions but that's not the case. We also provide consultancy and strategic advisory services to advise financial institutions, corporates, consulting firms, strategy advisers and technology companies. So also when no China system software is involved and that's important I think to really have an open mind about what you do in trade you cannot just focus on your offering alone. So we've set up this unit we've got our own blog we're writing quite a number of articles and one of the key drivers of this unit is the course supports a interoperability by design. It sounds like a bit of a marketing statement but it is something which is really very important to us. Just to give you an idea because if it's still too vague for some people we will typically integrate China systems will integrate its solutions with accounting systems with all financial messaging platforms whether that is SWIFT on FIN or MX ISO 2020 or two or whether it's EDI factoring for FCI for factoring business or any other financial messaging that's what we do obviously also integrated effects treasury solutions risk management everything to do its credit line management bank country risk all sorts of risk compliance the obvious one management information systems customization management system digital document technology AIML you see them all listed here and the list goes on and on and on and probably the ones at the bottom are the ones that we are probably now strategically looking at most especially IoT it's still for some parts in trade it's still early days but we we already get a request because we also provide asset-based lending and inventory finance services so if you want to start doing asset-based lending and inventory finance inventory is stored in warehouses IoT devices can be used smart chip smart share shelves smart bins smart containers all of those things become relevant the moment you start taking risks on financing inventory or financing stock or assets so we have a very open mindset in terms of integrating with anything which can use value which can give value to our proposal yeah the the obvious one and it's it sounds like it's a cliche of course but it's quite important before I show you the next slide which is a bit of a scary one perhaps but we look at digitalization as as really understanding all the existing dots that exist within the global trade ecosystem and then efficiently collecting them with a customer-centric mindset because trade has existed for not hundreds but thousands of years the core of trade and the risks involved in trade have not really changed so if people say we have a new solution for this or that well usually it's something which already exists repackage potential different technology platform or maybe by by connecting different dots there are not that many new initiatives really really totally new this is a reference to the article I'm not going into the article right now but this is useful background it's an article on our blog about well we call it a digital B&B that was sort of a have to admit a bit of clickbait but it was the B of course of bill of exchange and the B the other B of bill of lading so a customer-centric mindset and connecting the dots now I won't explain this entire slide and people can look at it afterwards on the YouTube they can get a copy of the presentation but when we look at trade with a customer-centric mindset this is what we are looking at mainly you got importers and exporters buyers and suppliers and their business is not it's not lc's it's not collections it's not supply chain finance though those are all means to an end they are producing stuff they have to manage materials they have to manage inventory they need a warehouse they use all sorts of services whether it's logistical insurance or financial services all in the context of a trade transaction and that's why we look at you know how does this data flow inside an organization and that's why you see you have typically the P2P to purchase to pay processes and on the other side the order to cash processes that are actually from a financial point of view the key flows and trade agreements lead to purchase orders purchase order leads to invoices invoices leads to trade finance instruments lc's collections open account but it's the same data actually flowing through the ecosystem not just inside the corporate but even if you go externally all post shipment services whether it's trade finance post shipment trade finance or whether it's logistical service an SLI shipping instruction whether it's to ask for an airway bill or a bill of lading or an ECMR for which there is a new protocol now they share a lot of their data with an invoice so an invoice is actually I call it the purchase order the invoice are quite important in terms of trade bill of lading is a very important document that it follows actually out of an invoice a lot of the data comes from the imports but anyway that's sort of these are sort of all the dots the dots that we will be looking at in this presentation are just a few because this is about a digital collection so we will be looking at a collection flow linked into a what happens with a bill of lading and an e-bill of lady actually and then of course the settlement because if you if you collect an invoice and if you finance an invoice and you ship the goods around for you ship the goods uh mentioned on that invoice of course you have to pay and you need to reconcile that so we're mainly looking at those dots here now the business case that we've looked at is a product which is actually quite popular but is a little bit in decline it's a documentary collection i'm not going to go into detail this is not a lesson about what a documentary collection is but from a risk perspective a documentary collection can be situated by an open account transaction where you just you ship your goods and you hope that you get paid and on the other side a letter of credit which is more more secure from a supplier point of view but of course it requires the buyer to establish credit with his bank so there's more payment security collection is a little bit in the middle it's a paper based it's a paper based procedure and that's why i think it's it's a very simple product it's a product with high potential that the paper is the one thing which actually is its major disadvantage because banks are being used as mailboxes to collect documents an exporter gives an instruction to his bank which is called the remitting bank to collect a set of documents and as usually it includes an invoice a transport document often a certificate of origin could be a packing list and a bill of exchange typically if it's the documents can be delivered against acceptance because a lot of trade transactions include are not based on payment at the site but payment typically 30 days 60 days 90 days after shipment or after invoice date which leads to a requirement very often for the supplier to get finance and that's sort of the business case we looked at and say how can we make this efficient this instrument more efficient i said i won't go in detail but these are the key things that we're looking at the exporter is the one actually who wants to keep control of his goods and the importer he would like to remain in control of his financial means as long as possible until he secure that there is this quid pro quo takes place i give you money you give me goods now what does a collection look like today i could have put more paper but it's paper paper paper first of all the exporter gives an instruction to his bank typically via a form like this the documentary collection instruction and he gives an instruction to his bank to collect a set of documents a bill of exchange an invoice certificate of origin bill of lady typically now of course we can automate this collection instruction and we have our customer enterprise portal solution provides templates for this that you can automatically generate there those instructions so there's a minimal intervention to pass that instruction to the bank we also support direct collections where even the documents did not have to go not have to flow via the bank but some good customs of the bank they're given a direct collection facility which means that the bank is implementing a way to generate the letter even with the bank's stationary on the front end system what the bank will do of course is they will do a check on all the instructions they will do a compliance check on all the data before the letter is allowed to be generated by the exporter supplier so this is what a paper collection looks like today two main types pay against payment and against acceptance now what are the weaknesses of the process because that's of course has been the driver for us to develop this we call it an e-collection product the first weakness is that in case the buyer is unable to meet his payment obligation there's not that much he can do because he sends the documents and then you know whatever it depends on where he is if he's on the other part of the word he could take two days three days five days seven days depending on times in COVID times even longer for the documents to arrive with his bank before they arrive at his counters and and then you just hope as a supplier that he wants to pay those documents so there's not that much you can do to put pressure on on the buyer the second one which I've already hinted at the delays on the transmission of this paper typical problem let's say if you typically think China and Japan and you have let's say a Chinese exporter Japanese importer or whatever and the goods are shipped it sometimes happens that the ship actually arrives before the documents arrive that can of course lead traditional charges you can have let's say the terminal is not the the container is not allowed to leave the terminal without presenting the bill of lading could lead to marriage charges and you may have to go to your bank as the importer to ask them to issue a shipping guarantee to release so it can get complicated that has been the main reason why an electronic bill of lading has been such a popular instrument and especially lately more popular but we know there's still challenges so a collection often includes those two very important documents a bill of lading which is a document of title which actually allows the owner if it's a negotiable bill of lading you have ownership you can take ownership of the bills you have to physically present this bill of lading the bill of exchange is another transferable negotiable document and it's very important in the financial world because it of course an acceptance of a bill of exchange means that the drawee is making a commitment to pay it maturity and especially if you got a bill of exchange which is accepted by a bank which is called an avow it becomes an even more powerful instrument so depending on the quality of the drawee buyer who's accepted it this is a very powerful instrument not just in the primary market of trade because it's an instrument you can sell so the forfeiting market is typically a secondary market for bills of exchange because you can sell those instruments so you're dealing with very a financial instrument and a logistical instrument which are actually giving a financial commitment and the other one is a commitment on the goods so they are a perfect set of documents to bring into a quid pro quo process but paper is too slow so we said it's pretty obvious yeah why can't we bring those two documents together so how can we optimize this and how can we resolve the weaknesses I'll immediately say before I start describing the solution implementing the technology to solve this is is actually the easiest part and I hope my technical team would agree with that but the biggest challenges that we still have today is that you know you have to be able to legally move from physical to legal documents the context has to be uh I would I say fully supported from an operational procedure from an audit point of view so what about those documents especially with a bill of exchange with an EBL we already know uh s docs bolero wave uh the quarter EBL there's there's a number of initiatives already in this space and the approach is to come up with a rulebook typically to create a framework uh to which the participants to this electronic instrument uh the flows to which they participate to actually make them operate in a closed legal environment by having them sign a rulebook however I think and that's one of the initiatives of of ICC DSI they're looking at the EBL how can we actually move this resolve this problem probably at a higher level to look at uh just like IATA did with the airway bill and they are now reaching 60 or 70% I think of airway bills globally how can the shipping industry take a consolidate those initiatives and actually resolve the challenges at at a higher level still giving the floor actually to the people who provide functionality in EBLs but but but but create interoperability at a higher level than the individual rulebook so this is something we work what we expect to happen how long it will take you'll have to wait and see but we are currently involved actually it's you see the word and on the left there uh it's not an or it's an and story yeah the the first thing is uh with the bill of exchange typically is that the bill of exchange for people who knows the UK or anyone actually who uses UK law because common law UK common law is is is applicable I think in about 40% of the countries globally and the rest is civil law and other formats but UK common law stipulates that a bill of exchange cannot be an intangible asset and that's one of the challenges you cannot possess an intangible or digital asset so that is one of the challenges so the law has to change so we are part of it for it for is discussing this with the UK government with the ICC in the UK as an intermediary to start pushing for law changes and there is a project currently going on in the UK and we're also signed up to this is it's called the digital assets project which goes beyond bills of exchange with bills of exchange the promissory notes are two key targets for this project the second one is uh so number one we have to wait for that this is uh we'll have to see what happens the second one is of course you can provide a contractual solution and that's one thing that's also it has done uh together with Sullivan they've defined an electronic equivalent of the bill of exchange which is compliant with English law and this is the EPU instrument EPU stands for electronic payment undertaking so it is the digital alternative for a promissory note and a bill of exchange according to English law what this file with the contractual wording might be instrument so that's a setting a warning can everyone still hear me because I get a stability problem with my internet everyone can still hear me we can hear you okay perfect okay the third one and that's last but not least yeah uh everyone must have seen those abbreviations at least 10 times the last week I think you and Citrao MLETR MLETR we we have high hopes on this it's it's challenging but it makes sense because this is a supramational approach because of course those documents that we're talking about those digital negotiable instruments are not just they the law can be different from country to country so it makes sense to look at this from an international point of view so United Nations Commission on International Trade Law is involved in this and they've defined the model law and electronic transferable records the good news is what Ifa is doing with their they're called the DDOC specifications digital document specifications they are fully aligning so discussions on going at Luca Castellani from you and Citrao between Ifa also with the ICC and also with Oswald Kerler from ICC BSI so so the DDOC specifications to whom we comply with the solution that we are developing and one that we already developed is is compliant with with this law the key criteria yeah this is just I'm quickly going over this I'm keeping an eye on time the key criteria that we've applied this is not China systems as a software vendor operating on its own and and hoping we will get some no it was a very calculated move we're doing this as part of Ifa we have to be part of a bigger organization who actually for its entire community which consists of many banks and more and more fintechs as well and is actually liaising with the ICC is liaising with the United Nations is liaising with the UK government with with the different ICC entities in the different countries so this is the way that we're going going for adoption by supply by with the community approach so Ifa started this initiative the DNI initiative which is called the digital negotiable instance quite a while back and recently they came to a framework a set of specifications to which Ifa believes technology should comply with so it's fully it's meant to be vendor agnostic it's focusing on interoperability it's developed with an open banking mindset so we immediately I think we I have to say probably together with our partner in Igio we were immediately very active in this space because I was immediately we were immediately convinced about the potential of of of of the nature of those specifications because they leave actually they stay out of the business aspect so it is not the objective is to reuse as much as possible infrastructure that exists today but use new technology in areas where current technology may have challenges so I'll explain it a bit more in detail but we've used distributed legit technology as a digital notary in the trade document space but without getting involved in the business data itself it's mainly a technical security based solution so this is a quote from andrei kasserman who's the chair of it for fit the committee we've implemented a first case already digital guarantees and we're talking uh to at least well we're in advanced stages in one country talking to local chambers of commerce uh on on on a digital guarantee product in a specific market important of course is alignment with u.s.c. trial m.e.t.r. now what other criteria did we define we're almost at the end of before I start explaining in detail what the business case is about what the flows are we defined some criteria for this this is not a solution in fact that only china systems can implement we are reusing our entire operating model that we have today for backups and front-end we are reusing it we support paper collections we support paper of c's we can we can support digital and electronic of c's tomorrow if we have to integrate instead of swift integrate with with the re-trades with the contours for us that's not really relevant there's a lot of infrastructure out there and banks are not just going to change that overnight so we are going to reuse it completely for the customer for the end user it's fully transparent where he goes paper digital or hybrid it should not really matter to him it's driven by by the relationships in the trade transaction same business practices that that that exists today just more efficiently same documents that of course use e versions were applicable and in terms of the icc rules which are very important in terms of in terms of trade processing in the collections normally the uniform rules for collections apply but in this case we we can use the supplement there is already an eurc supplement for electronic collection business so this is going to be an important case on eurc the solution objectives are the obvious one same instrument collection but fully digital no paper we're just removing the paper from the process faster obviously and the key element in all of this is the control the financial control and the control over the goods becomes a real time control and that's what you lose of course if the ownership or the financial commitment is based on a piece of paper which can even get lost that's that's wrong so we're now going to give through digital interaction real kind of control over those bills of lading and bills of a change more cost effective more secure obvious ones now on the next slide now this is don't worry uh don't worry i i it looks complicated but it is not uh this is the case this is one of the three cases that was submitted uh via itfa and via through the icc in the uk as an intermediate to the uk government the uk government is really pushing initiatives in the uk to support to support its exporters um in in in financing trade streams uh with limited with as limited as possible dependency on paper so the uk government is pushing this and that is why itfa presented three cases three business cases and this was the first one actually uh it's it's it's it's the business case is the finance of an exporter based on a bill of exchange being accepted by an importer or the importer's bank but in a fully digital flow the ebl it was actually not part of it originally of the case that's why you see i've added it here number six because that's where we've introduced the quid pro quo i'll briefly explain what happens because i do not know how many people know trade here but the situation is this an exporter ship goods to an importer now he wants to collect the funds for those goods but he wants to retain control as much as possible while getting a financial commitment and he doesn't want to work with an lc because an lc is too complicated the importer does not want to not see because he needs a credit line etc etc so what is have what is the business case here the setup is that the bank is first of all because usually those are term bills let's say 30 60 90 days acceptance or invoice date or even 120 days whatever depending on the parties involved and the bank grants his exporter a bill of exchange a finance facility or a discount facility instead of just collecting invoices the exporter is going to also create an export collection instruction but with a finance request so he's immediately going to ask his bank do you want to finance me for this invoice and this bill of lading because of course the shipment by by by c the documents involved are typically an invoice a bill of lading and a bill of exchange so he's going to request finance the bank is going to check the exporter's facility whether he has a finance facility and that could be tied into specific counterparts because the quality of the importer or the importer's bank if they accept the draft is of course relevant to take the risk if they accept if they say yes we're going to give you got a finance you what will happen here and that's where we'll use digital document technology of our partner inigio and this is where we're using blockchain we will be creating the bank will be creating a digital bill of exchange using trace original is the software provided by our partner inigio so inigio is the the trace original is the other software which is compliant with the detox specification of it so they're creating a digital bill of exchange and they're going to present this bill of exchange for signing but because a bill of exchange needs to be legally signed by the drawer the exporter and they will also ask the exporter to endorse the bill of lading to the bank what does that mean that the bank will become the assignee of the funds it means I'm going to only finance you if I become the beneficiary of this bill of exchange if it gets paid so there is sort of a transfer of ownership and the rights to the funds actually from the exporter to the bank they digitally sign it we're integrating this with digital signature software because we're doing this in Europe at this point we we work with Signicat so we're using digital signatures to actually support digital signing here so the endorsement takes place at that point in time a digital collection will be presented to the importer so this digital instrument will be presented to the importer for acceptance and he can then in it and then this is where the quid pro quo takes place because we're going to send of course additional information that will become clear on the next slide we will present the entire collection with references to the documents not the paper documents but references to the digital documents to the importer and this is where the quid pro quo takes place the product is entirely based and you go back to the first slide ebl against epu what is happening here is the collection is based on the importer has to accept if he accepts the bill of exchange the bank will transfer ownership of the goods they will change the holder of the bill of lading typically from themselves because usually the banks if they take the goods as collateral they could be a pledge this is typically ebl functionality they could take they could take a pledge on the goods and they're then empowered to actually change the holder or change remove the pledge and actually make the important the beneficiary or the owner of the bill of lading so the exchange the quid pro quo is you accept the exchange I give you control of the goods but in a fully digital real-time interaction based flow so when that happens an instruction is given and that's where currently there's many ebl well there's about six seven ebl providers but we started discussions at this point with bolero on this we had a chat with yakko and raymond on this last week we're going to have an api based release of goods by connecting directly to boleros ebl title registry platform so this will be done fully digitally the rest of the flow of courses after that then the moment that this happens of course the bank can provide the finance yeah they could do it pre acceptance but usually banks will not take the risk the moment that the bill of exchange gets accepted by the importer in his bank at that point in time the remitting bank is i'm going to give you money 80 90 95 or even 100 percent depending on the quality of the drawy they're going to provide finance the rest of the flow is actually the presentation for collection and the payment will integrate this also with the payment flow so that we can reconcile this at the end but the key thing here is we use distributed legit technology here as a digital notary because we have to make sure there is no duplication of bills of lading no duplication of bills of exchange the duplication of the bill of lading that's controlled by the ebl provider the duplication of the bill of exchange and the transfer of ownership all the functions on the bill of exchange are managed by us interacting giving instructions to uh to the digital notary the dlt digital notary provided by an ideal persuasion so this is the digital collection flow now the last one is probably where it all comes together and now i yeah this is where you'll have to open your mind here because this is the vision that we have on how we see and probably beyond the collection itself you remember the slide where i showed all the paper on this slide collection order the invoice etc the way that we see trade move and i've always been a very strong believer that electronic invoicing and trade must come together there's a lot of things happening in the e invoicing space i don't know if people who knows pebble most people do not know pebble but if i if i say basware or i speak about tungsten i each country there's now about 30 there's a more than 30 countries in europe uh recently singapore uh australia new zealand canada us they've all signed up to the e invoicing pebble framework and do not underestimate the importance of this because all post shipment trade where it's traditional trade finance every trade transaction includes an invoice so what i'm trying to make clear with this picture is an e collection is actually is first of all of course it's a structure it's an instruction instead of the instruction on a piece of paper we're defining a digital instruction which is erc compliant it's compliant with swift md 400 series because the md 400 series by swift are used to settle our collections to create acceptance under to give uh advice as acknowledgments advice of acceptance etc etc the traces that's all that's that's that's swift based and of course compliant with a standard remittance letter which we have today the rest are the documents now the documents instead of we can actually include if you want we could include copies of a document inside a digital instrument and we may have to do that in some cases still but the reality is what we really believe in is that we will be pointing to dock stores or other access points yeah that's why for the ebl for example instead of us starting to develop anything we just have an api we'll the ebl piece of paper attached with a clip or whatever or attached to a piece of paper is changed by a reference to an ebl and we're just through an api connection the the information of the ebl can be retrieved or or transfer of ownership can be hand this is where we'll fully integrate our workflows with those of an ebl provider and these are typically the known ones for the epu which is the digital bill of exchange that's where we're integrating and there could be more yeah do not misunderstand we're not exclusive on any of those topics here whether it's bills of exchange or electronic invoice or ebls we're not exclusive we believe in an open infrastructure here we're depending on the parties involved we can actually refer to to whatever access point or whatever blockchain or no blockchain solution that the which is used as a processor or repository of those documents but at this point we're integrating with trace original to manage the the integrity the uniqueness the ownership and the transfer of ownership of the bill of exchange of the digital version so we're using this this solution for e-invoices we are at this point looking could be there could be more value added networks but pepo is emerging right now i know india is also looking at it but singapore there's a lot of digital economy agreements being signed right now and pepo pepo most people don't know pepo but look it up look the pepo access points and you will certainly see minus in belgium it's coda box coda box there's many in belgium but there's many pepo access points across the globe so instead of attaching invoices we're just referring using a reference so we believe in in instruments financial instruments being fully interoperable with whatever digital document infrastructure that exists on the outside so and if you have this open approach api based then you could actually like you book uh i would say like i do it for e-invoicing today my accountants uh my invoices i don't see any paper anymore it's all connected my connection to the payments to the settlements of my invoice it's it's a button on on my digital invoice i click the button pay now pay later this is also a trade needs to go that's why it needs to integrate with electronic invoicing to bring trade origination the entire range of financing instruments and the settlement have to come together so this is sort of the idea behind this this vision that i have with this electronic collection but with an open infrastructure mindset linked to ebl as i've not included certificates of origin also a document which is with where there's already an eversion uh so we're creating a fully digital equivalent of an existing paper in this collection today and we can also use if banks say okay we want to process it over swift if you want you can yeah you can use file act uh to actually transmit digital instructions or digital documents over the swift network that was it uh i'm ready for any questions that you may or may not have thanks joel first of all was very inspiring very interesting thank you uh andrea i see there's more participants meanwhile let's i'm happy to see that and some some names are recognized we we we have a good attendance today luckily you know okay okay so yeah if if people have questions here i think the the presentation can be shared the youtube video can be shared you will see our contact details like i said we are we want to work with well everyone sounds like a bit of a cliche but i'll i'll do the last thing a problem i'll say tactically we can work with anyone and and tactically we go where our customers go if our customer asks us i want to work with retrait i want to work with with congo i want to work with with dlt ledgers for us we will do that strategically though and that's why i make a different tactic as to teach you to teach strategically we really believe in in in a mindset that we uh that we have to look at how quickly can solutions be scalable and that's why we're looking at things like pepo because if we can tap into cooperate with e-invoicing providers e-invoicing providers for example they they get their hands on on invoices e-invoicing the moment you start financing invoices and there's a lot of traditional trade finance which actually hooks into invoicing it makes sense to me if you've got a huge network out there which is being increasingly being dropped by singapore and out more than 30 countries in europe canada u.s australia singapore new zealand doesn't it make sense then because every trade transaction includes an invoice you actually look at it at a data strategy where we can bring the logistical world together with the financial world in which the invoice is such a key document i'm a very strong believer of that so i see it as a is an important path through this interoperability not just within a certain industry but an interoperability between the financial supply chain and the physical supply chain end of sermon perfect yeah julien where you see it sound thing no i i had a great great presentation thank you jojo and anyone who's got any questions please ask or put it in the chat and we can ask it um so how how long do you think this is going to take and how can we accelerate it what's the call of action just well that is that is the question i think on every webinar the question we go on every webinar exactly the there's a couple of things yeah it depends on the scope of what you want to achieve how long will this take what is this of course i have to say that the initiative that it foretook with its d-dog specifications which are which aim to be a uncentral m&e tr compliant this is meant as an interim solution that's what we hope at least we hope that either well two things have to give either uh common law or civil law gets adopted but that historically has taken a long time the other approach is you and sit round model law for electronic transferable records gets adopted fast and now only we know modern bacharine is currently the only country other countries are looking at it so that's another approach but i i i think that you cannot wait for these things that's why we decided because i know what icc the aside i should not speak on behalf of of them but if what what we support is i would i say a data and document centric trade strategy not a platform centric trade strategy because a customer the customers the people doing the business all over the world if you take a platform centric approach you raise immediately all sorts of barriers from a competition point of view the strategy that is applied has to be document centric so i am positive i'm hopeful that you know by looking at the ebl for example as an industry looking at the ebl as an industry looking at electronic invoicing at an industry and then those industry meeting i think that can be quite a logical path if you set the target i'm going to change everything overnight at once you will fail so what oswald has as explained in terms of let's let's see what we can do to move from individual rule books maybe try to tackle at a higher level at an industry level by by coming up with the industry coming together on an ebl that's an approach if i understood it correctly that i am in favor of he invoicing the same thing now he invoicing the challenges because taxation policies are different from country to country but if i see the list of countries who currently support who started adopting pebble in the digital economy agreements with singapore i know that india's looking at it as well with canna with us with all those european countries if those countries i think which have a digital agenda and and and those other countries have a digital agenda meet each other all the digital agendas that you have on on electronic invoicing and electronic bills of lading so document centric is fine but then bridging it bringing physical and and financial together that's i think a logical path and at the same time hope that the change in law or adoption of of m&e tr will happen because that will be a major catalyst of course uh drill a question from martin warf he's asking about lc's that this is credit which are you know a little more complex and well and lc if if you dissect if you dissect an lc and lc is in fact a collection plus because what happens with a collection mainly is it's of course initiated or different ends a collection is initiated by the exporter you're collecting post shipment and lc is a pre shipment instrument yeah so it starts but from from a data flow point of view of course they they share a lot of infrastructure the lc of course has the difference with the fact it has credit uh it is tied into credit on the buyer side from the issuing bank so it's a secure instrument but it's it's within the same spectrum it shares the document so in terms of resolving it in in terms of resolving the lc you actually the approach can be the same thing because to make the lc more efficient and i'm going to be saying things which i'm not sure it was it was only but i'm going to be just open and and share what i believe moving an empty 700 today from from a thin network which is swift to blockchain it's not going to resolve the challenges and i will admit the data exchanges can be made more efficient more interactive than on a on a centralized network with met with messaging between different parties and flowing i i have dlt can be much more efficient but the elephant in the room in trade whatever trade where it's an lc or a collection are the documents so porting an instrument or the bpo from from the tsu network to a blockchain network what's up sorry it's not resolving the problem documents are the glue in international trade they enable financial and logistical decisions solve the document problem and you solve everything and lc will you know the e-presentation is the missing component of the bringing the e-presentation together with the trade origination the agreement is is what is going to change things not putting an lc on a blockchain network that is my opinion so so it is more complex why because the flows are more complex a collection as the lifecycle is very simple you present you accept or you pay so in terms of reconciling a flow it's much simpler uh the complexity of lc is mainly about tracking all the shipments keeping track of it versus it's what happened also behind the lc uh the orders the orders need to be updated but also shipments have taken place but if you can move if you can move to digital documents there then you can resolve the lc challenges as well that's my opinion all right gel i hope i've answered martin uh you can ask me more detailed questions i can be contacted on linkedin i'm always it's it's more a challenge to get rid of me if you if you start asking questions like that that actually get me to answer them sorry to break you the spam is asking it how does one consume uh the services been offered by chan systems do we connect or require a license and deploy on uh that's a very good question i've got i've got my i hope i've got some members of my technical team on but i'm first going to before actually giving the technical response uh i'm first going to position china systems correctly because in terms of our technology eggs and bills is our flagship product eggs and bills can be deployed on premise or in the cloud our traditional model of course because eggs and bills is probably one of the most connected systems in a bank why if you remember the list of systems at the beginning a trade transaction generates accounting entries we we we take down limits credit lines uh we post risk we integrate with treasury uh because we we we do payments we finance we need interest rates so it's it's we usually we're integrated between 10 and and 40 different systems in the bank so it is from from from a deployment perspective it can be deployed on premise or in the cloud we provide also microservices uh we have of course a microservices strategy to deploy our functionality but i have to say and that's something which is of course very a hot topic historically of course it has been done and is still mostly done uh on premise because of the heavy integration requirements to other systems which are not in the cloud yet so if there's an overall cloud strategy that banks or anyone or corporates have of course it becomes easier but the more if you if you create an orphan in the cloud especially for a trade system which is so integrate and if you have big volumes you have to consider that that you have of course your integration is very efficient if you don't have high volumes then deployment within the cloud becomes an easier decision uh but but in terms of the question i'm probably giving you the business person response but we can uh i don't know philis let me see where the philippe is still there in terms of consuming services uh you can talk more about that it's really technical question um i i think you you you you explained it pretty well joe so whoever has our existing application they can obviously um have access to this functionality and it is supposed also to our application via api so we we set up as an open api and then you can actually consume these services from any endpoint that can invoke web services if you want to integrate it in some other application or if you're happy you can use our GUI to perform these operations so all the communication is done via apis via web services even with the inigio stack we the bank should operate the node so for this demo who actually the documents they operate an inigio node you inherit technology um the whoever has the documents they don't need to sign up to any network or any specific technology they can just transfer the documents freely on the what we call the open node yeah so only the bank in this in this float needs to operate an inigio node okay thank you phil is that uh i think it was palm who asked that question uh yes it was joe yeah thank you i got most of it it was a it was a little bit um the line went a bit funny on the audio but uh yeah i got the gist thank you yeah so it can be both and like i said all our connectivity uh is is with apis um also with the blockchain networks that we've integrated with it's a seamless it's a fully integrated experience uh it's the way we integrate uh also with others with with the compliance with ai and mel systems for document checking it's all from a single uh window actually and we just we just integrate our service in in both directions uh with with partners to create an integrated experience for the inclusion okay that's excellent i think uh any more questions i think we've come over the time limit actually yep right it's past the hour right um okay yeah andrew are you there still i think we may have lost andrew oh i mean i just i mean julie just me she is right i think are you gonna wrap up now perfect yeah i would say we're going to end up here and you know give you uh goodbye and see you next week time in one week time with uh one more interesting meeting okay okay thank you from from from my second china systems for for attending this session i wish everyone a a happy end of a healthy end of the year and a better 2021 thank you joe thank you everyone right thank you thank you take care bye bye take care take care


As coronavirus cases continue to fall in Kentucky, Governor Andy Beshear is warning school systems not to relax too quickly. During his Team Kentucky briefing on Thursday, the governor said now is not the time to begin rolling back safety measures such as mask mandates. Now, I know I've at least heard some news that some school systems are already looking at going to masking optional. We know and we have seen that will increase COVID in your area. I do believe there's going to be a time during the course of this entire school year where that is likely possible and safe. But with vaccines on the horizon for five to 11 year olds coming what we think is really fast, hold on. Again, don't pun on third down. Make sure we continue to push this through and there's no question that there is still if we went back to those line graphs, which we don't need to. There is still almost as much virus out there right now as there was during some of the difficult parts of our previous surges. And that was a time that we were certainly wearing masks and none of us at that time in schools were even objecting to it. And speaking of vaccines, Beshear said the state will be ready to begin immunizing younger children the day after a vaccine gets federal approval. So we will be ready to vaccinate our children the day after typically takes a day that the final approval comes from the CDC. People ought to be ready to go primarily to the types of places that are providing the adult vaccine. Think about all those different groups that are out there. I'm likely to sign my daughter up for one of the pharmacies here in Frankfurt. The governor also said that the sooner students are vaccinated, the quicker it will be safe to begin easing school safety measures.


Welcome back to my YouTube channel, I try to share interesting things here about Israel and Jerusalem. As I mentioned in an earlier video, French supermarket giant Carrefour announced a nationwide rollout across Israel this week. The French grocery chain, which is one of the 10 largest retailers in the world by revenue, is entering the Israeli market through a franchise agreement with Yanot Beitan, a subsidiary of Electric Consumer Products. By opening in Israel, Carrefour has become the first major international grocery chain to launch a supermarket network in Israel. Carrefour is popular throughout the world for its competitive prices. Many in Israel are therefore hopeful that the arrival of the chain will help to lower Israel's high cost of living, which includes the cost of many basic staples. Altogether, 50 Carrefour stores opened in Israel today, with as many as 100 more are set to open by year end. Nine stores opened in Tel Aviv alone. I went to visit the only Carrefour in Jerusalem today, which is located in Ramat Bet Haqerim, an urban neighborhood in South Jerusalem. Before I share my impressions of the store and its prices, I want to offer a couple of disclaimers. Firstly, I visited this Carrefour branch on the day when it formally became part of the Carrefour network. It's reasonable to assume that this was a busy and stressful time for the store as it was sort of like a reopening day for it. Secondly, the product selection I'm showing is of course only the one that I found in the Jerusalem Carrefour at the time that I visited. And finally, I'll be mentioning equivalent prices between shackles and euros at a few points throughout this video. Like all exchange rates, the shackle euro rate is in a constant state of fluctuation, so the prices I'm sharing here might be outdated or rather have changed by the time you watch this video. With that out of the way, let me share some candid thoughts. I'm sorry to say this but overall, I thought that the average prices on offer at the Jerusalem Carrefour were somewhere disappointing. Carrefour representatives have given interviews saying that they're in the process of getting a wide range of own brand products certified kosher. This likely explains why I didn't see that many of them on the shelves today. Instead, I saw lots and lots of familiar Israeli products, many of which result at the typical and somewhat inflated prices that contribute to the high cost of living here. Let me share some examples. At 6 shackles and 20, Carrefour is selling milk from Israeli giant Tanuva at basically the same price as you can find in just about any other Israeli supermarket. I'm not saying the paying about 1 euro 50 for a liter of milk is a bad deal, simply that this is an obvious dairy staple which Carrefour hasn't been able to bring its own brand product to market yet. Let's jump over to the fresh orange juice section. Here I was disappointed to see the familiar Prinav Israeli orange juice being sold at 20 shackles a liter which works out to just under 5 euro at today's exchange rate. Bear in mind of course that Israel is a Mediterranean country which exports oranges around the world. Again, I have no idea whether Carrefour plans on launching its own brand of orange juice but this is another breakfast staple that right now would be just as cheap to buy at your average Shufrasal or Ramilevi. It would be neglectful of me to mention a video about the cost of living in Israel without mentioning the famous cottage cheese which was the rallying cry for the major social revolution against the cost of living in Israel in 2011. If for no other reason than symbolism, I thought the Carrefour could have launched their own variety of the dairy staple. Instead they were simply selling regular old Israeli cottage cheese for the regular old Israeli cottage cheese price of about 7 shackles that's 1 euro 70 a tub. It's actually slightly cheaper at the mini market across the street. People on Facebook groups have been curious to know whether Carrefour intends bringing its own brand products to market which also have kosher certification. The good news is that they certainly do, although as we saw on the dairy section they don't seem to have brought many of those products to market in time for their launch this week. But here's one example, an oat milk from the Carrefour Bioreg that also bears a kosher certification called a Hecksher. Sadly there was more disappointment in store for me in the dairy aisle. I was disappointed to see that there wasn't a single Carrefour cheese on the shelves at least as far as I could tell. Instead the low fat sliced cheese that I purchased because I have no gallbladder was available for its regular price of about 16 shackles which comes in just shy of 4 euro. Again this is a staple product I think we could really use a cheaper alternative to in Israel. In the spice department we saw Carrefour underselling a competing as ready brand with better prices on ready filled spice dispensers. Now let's get into my pet peeve of olive oil. As I mentioned previously it's generally cheaper to buy olive oil in Ireland where there are literally no olive trees than in Israel. Carrefour Israel launched its website today that's at Carrefour.co.il. They show that Carrefour is selling its own brand olive oil for 11 shackles 50. That's just a little less than 3 euro again at today's euro shackle rate. While it wasn't on the shelves at this particular branch of Carrefour I put that down to incomplete stocking. So let's take this as a positive. Olive oil prices may finally be coming down in Israel. In the frozen pizza aisle we had more disappointment in store. I'm not endorsing subsisting on a diet of supermarket purchased frozen pizza even if I did that myself during my college days. But here again we saw a missed opportunity for Carrefour to launch some competitive own brand products. Again I'm not privy to their product pipeline so it's possible that these are on the way. But all they had to offer in Jerusalem today and on their new website was frozen pizza selling for about 5 to 7 euro. Some positives. Carrefour looks set to bring a bit of a shake up to the frozen veg section which is another of the long list of products that are mysteriously more expensive in Israel than in other countries. On a gram for gram basis these beans were cheaper than the market leader. However, given my fondness for throwing some frozen chips into the air fryer whenever I get the midnight munchies I was disappointed to see that there were no own brand or discount frozen fries. Prices on alcohol, wine and beer weren't really extraordinary and the deli meat section essentially just featured regular Israeli products at regular Israeli prices. On the positive side the self-checkout experience was pleasant and I was offered the option of putting my phone number into the machine in order to save a bit of paper. Needless to say products and the self-checkout machine were labelled in Hebrew. Israeli supermarkets have a well deserved reputation for being kind of grimy so I was pleased to see that Carrefour seems to have opened its Israel journey with good standards of hygiene. The aisles in the Jerusalem branch were wide and pleasant. You could say that my overall impression of the Carrefour was a little disappointing. If they're truly going to put a dent in the cost to living in Israel then they need to seriously focus on bringing competitively priced own labelled product goods to market in my opinion. Otherwise they're simply another grocery store selling overpriced goods to frustrated Israelis with no better options for their frozen pizza and cheese. Thanks for watching and if you shopped at a Carrefour today also let me know your thoughts and comments.


There was a patient transferred to our hospital who had been cared for at another hospital and the report we got was that he had end-stage cancer, prostate cancer I think, that there was no more curative treatment than that he was essentially coming back for palliative care. I wanted to make sure that I communicated information in the right way for this family. So I actually asked the eldest son to come out with me or he stepped out with me and I asked him how much his father knew and he said really my father doesn't know anything about what's going on. So they didn't talk to him about that at all. We probably need to have some kind of conversation and you can help me talk about the best way to do this for him so that he knows how to prepare for what's coming. And he said oh well he's already doing that. In fact right now he's talking about what to do with his things. He's giving his sheep to one family member and his truck to another. And I realize this is about indirect communication. It's honest communication but it's indirect communication. So he knew without it having to be said what was going on. What was important is that the important things were happening. We just needed to understand, to listen and to follow that communication. Bruce you've seen different models that people are trying to develop to meet individual culture needs. There's not one Indian culture. Lakota is going to be different than Navajo is going to be different than my tribe of Choctaw. So to be able to communicate and have cultural brokers who help you understand what those imperatives are within the culture can do it right. Because even here on Navajo it's going to be different. It's not one size fits all but there is a skill set that we all need to have and we need to have a comfort level with addressing the issues. If what we're really trying to do in our clumsy way is say to a person an elder or an elder in their family or a person with their family we really want to take good care of you. We need to know what we need to know to take good care of you. And I know I'm going to say this the wrong way. Forgive me but here's what we need to know. They can tell very quickly where you're coming from and you can say things that if a Navajo said it to them they would be entirely offended. But they understand that we also don't necessarily know the culture but they care very deeply about whether or not we care. People always talk about it when they say taboo often is their lack of education. We're finding a lot of the elderly. It's okay to talk about because it's my condition. I need to know. I need to know about this so that I know what to do next. I have found over the 25 years that I've been out here on the reservation that a lot of the truisms that you hear, well you don't do this, you don't do that, that's a taboo, you don't do this.  And the only way you can find out is to ask them. And I have never had a problem in a conversation when I've asked them to explain to me what their feelings are on this. I've never gotten the sense that they were offended and I've asked patients later, did that offend you? Now occasionally there may be some non-traditional family members who found this to be particularly true that aren't perhaps as versed in the more traditional ways that they immediately say, oh that's taboo. They really aren't educated in their own culture. Palliative care represents a model of patient-centered, person-centered care that is really what we want to be able to provide in a whole range of care. But palliative care, it all comes together. Even though it can be difficult to provide this kind of care it can be difficult to figure out how to cross the communication barriers and how to pull everyone together into the team. There's a knowledge base that folks need to have a handle on. All of those are not excuses and we can't take a buy on this. We can't say it's too hard, we can't do this. It's the standard of care and we have to be creative. We have to use the resources that we have to the best of our ability and we're possible to identify new resources and then build. And the whole center is the patient making a decision for themselves. Patients saying, I want to be cared this way. I want to be cared at home, not in a hospital. I would prefer to die at home, not in a hospital. There are so many things that we can offer patients for symptom management and as you say, making the most of each day with the emphasis on living and doing the right thing for the patient to help them feel as well as possible. And many of the cultural concepts from traditional Indian medicine with utilizing all the spiritual gifts and all the support systems that are there within the community from traditional healers to social workers to regular ministers within the community. All the strengths that are there in the community to help the patient can be brought together into the team approach. So yeah, we're doing the walk the talk now at Fort to make sure that it works, you know. And how it works is talking to one another as a team, interdisciplinary team. The most acculturated will prefer to die in the hospital.  But you know that whole concept about decision making, giving them the right to make a decision for themselves and how they want to die, that's like taking the traditional concept, that's how it was before. You know, revisiting the old philosophy, the values, the morals that they had before, that we're reintegrating that back into this approach of care. It is actually more traditional because it doesn't separate into treating disease, treating the body instead of treating the whole person, the spiritual, the emotional, the social context. It covers all of it. The part that you begin to value is that you're helping the individual as they define the die the way they want to. You're giving them that right and you're giving them that choice and you're supporting that and total respect about their decision. We talk a lot about respect for elders and that's a fundamental aspect of respect, is sort of knowing that we're honoring their wishes. That's a key piece. And respect for culture. And that may not be the choices you would make, but it's important that it meet what the patient's goals are. That's right. The EPIC-O for the Indian Health System is an opportunity to address the unique cultural aspects of palliative care in the Indian country. And that's why the cultural curriculum was so important. I really felt that it was essential because what we're talking about is trying to improve overall care of patients at the end of life. And if you don't include the cultural components, you're not doing right by the patient or the family. The one thing I think that with the EPIC-O curriculum, it's very adaptable. And I think that as we go forward with this in the IHS, a lot of those slides are going to be, they're not going to look exactly the way they do right now. We know that for program development, it's going to be driven by the local culture and the local needs. Hopefully, the EPIC-O for Indian Health Curriculum can be adapted over time, too, to the local needs. And ideally, it would change. It would be different when it's presented on Navajo than when it's presented in Minnesota. It might look a little bit different depending on what the community is. The reason that you train people from all the areas is to have them one look at sort of a core curriculum and then to be able to say, that really would make sense for us and especially to be able to offer to patients and families the concept that it's not that there's nothing more we can do. It's that there are lots of things that we can do to help you through this experience. I was taken care of this 76-year-old gentleman who had in-stage esophageal cancer.  He was doing pretty well at home. He was fairly independent but he was losing a lot of weight and he wound up being put in the nursing home for the winter, which often happens. I mean, a lot of people, as I said, they'd live in houses with no running water and electricity and so he went to the nursing home. So I got to know him quite well. He spoke almost no English at all and he was losing a lot of weight. I met a family member who had come up from Phoenix to visit him and I used that opportunity to sit down and ask both of them what their understanding was of his condition and where things are potentially going. He and I had talked a couple of times and he understood that this was going to be the end, that he was going to die from this, but he didn't dwell on it. He was actually quite active in the nursing home. With the granddaughter there, I said, ask Joe what are the things that he wants to get done in the time that he has left and so I was thinking more in terms of are there family members that he wants to meet or should we have a family gathering, etc. So she talked to Joe in Navajo and she said that he says he wants to go see Mickey Mouse and I almost fell off my chair. I mean, this is a very traditional man. He had heard it sheep all his life and I said, well, explain that to me. He said, no, he wants to go see Mickey Mouse. He said that he sees it on TV and the children talk about it and he says he wants to go see Mickey Mouse and I said, so you would like him to go to California to Disney World? Is that what you're saying? Yes. And so I said, well, I think that we might be able to work this out so your family get together with your extended family and you can also tell them this is something you can do for Joe and you set up the date and the time that you're going to be going and I will work to make sure that Joe is going to survive this trip and it all worked out and I have his picture next to my desk at Disneyland. With Mickey. Well, Mickey's actually not in this particular picture because there were so many family members there that Mickey didn't fit but he absolutely met Mickey, shook hands, hugged Minnie in a million years. I never would have guessed this but if I didn't ask and it never would have happened if I hadn't asked and this is not the only time that something like that has happened I mean that really taught me just ask, don't go over with any assumptions because you never know.