Loudon Owen on Enterprise Blockchain: “We Hold the Future in Our Hands”

From October 30th to November 1st, hundreds of blockchain professionals from industry and academia are joining forces in Athens, Greece at Decentralized 2019 to engage in workshops, talks, and networking. One prominent keynote speaker was Loudon Owen, whose talk was titled We Hold the Future of Enterprise Blockchain in Our Hands, representing DLT Labs Inc.
To kick it off, Owen gave a background on legacy systems and their work in blockchain:
“We hold the future of blockchain in our hands. It’s an important responsibility.
90% of all data has been created in the past 2 years, it’s logarithmic growth and not linear. There are many threats today with legacy systems falling apart. What will enterprises do? Across the board, back-end systems have been ignored.
Legacy systems are existential organizational threats.
We built whatever is needed in the ecosystem, whether it’s ASICs or middleware. We’re the engineers of uncomplicated trust. My partner Sergey was the CIO of Walmart Canada and founder of Walmart Labs. Walmart Canada is now our largest client.”
Blockchain, as a single source of truth, could be an antidote to the inefficiency of legacy systems:
“We firmly believe that one of the biggest problems is poor data management. We’re passionate about patents. We trained 3,000 people last year in India in blockchain and this year it’ll be 10,000. Walmart is the world’s largest company by revenue.
Our client, Walmart Canada, has many deliveries, making reconciliation for what happened extremely difficult. Every single delivery has up to 170 incremental charges and variable costs. In Canada, there are about 25 billion deliveries a year. Our objective and mandate was to ensure real-time actionable data and reconciliation that works with legacy systems.
Our system has been rolled out and deployed, and is in production today. We’re expanding rapidly with a team of over 200. We’ve met the security requirements. Walmart is as good as it gets when it comes to supply chain, but even then it took weeks of reconciliation.”
Besides the advantages of blockchain applied to the supply chain of a company like Walmart, blockchain is also useful for capturing the lineage of goods to ensure they come from ethical sources:
“Another use-case relates to ethical Cobalt mining, which has been highly effective.”
To wrap it up, here’s what Owen has to say on the case for using blockchain:
“Anyone who’s worked in a back-end system has seen how debilitating it is, so they want to move to a faster, modern model.”
