Transcript 0:00 [on-hold music] Happy New Year, everyone. It is January 2025, and we are so excited to welcome you back to Plutus21 Pulse. 0:15 Whether you're diving into new resolutions or just rolling with it day by day, unfolding the blessings this year has to unfold, we're glad to have you tune in with us today. 0:27 Oh, and before we start, Happy New Year to my podcast partner in crime, Liz. Here's to more laughs, interesting insights, and tech talks with you. Thanks, Shaima. Uh, Happy New Year to you too. 0:43 Honestly, I couldn't ask for a better partner to kick off the year decoding [chuckles] all the tech. 0:48 Um, and to our listeners, if you've tur- tuned into our past podcast, uh, you might remember that we dove headfirst into the fascinating world of blockchain, uh, what it is, why it matters, and how it's reshaping industries. 1:03 So Shaima, you left us off with a profound thought that- Mm-hmm, mm-hmm... the most exciting application of blockchain probably hadn't even been invented yet. 1:14 So I've been thinking about that ever since our conversations. Right. Right. Like, it's like, it's like standing at the edge of a, a whole new frontier. Exactly. 1:24 And we promised our listeners that we'd continue, you know, this journey, this discussion, digging in even deeper. So here we are, kicking off the new year, uh, with a new chapter. 1:35 So today we're exploring blockchain's current applications, emerging trends, what it all means for the future. Uh, but before we dive into that, let's talk about something fundamental. 1:47 Um, what are the main hurdles that businesses face when considering blockchain implementation? All right. So, um, I guess the challenges typically fall into three main, uh, buckets or, like, categories. 2:02 Uh, first, there's a significant awareness gap. Many business leaders understand blockchain conceptually, but, um, I feel like they struggle to identify specific use cases for, for their industries. 2:18 Yeah, I definitely can see that. Uh, you know, it's one thing to understand blockchain in theory, but applying it to real-world business challenges, that's a whole different ballgame. 2:28 So I bet a lot of them are hesitant to take the leap without understanding the- Yeah... you know, the clear payoff. Exactly, yeah. That's, um... You know, that hesitation part is completely understandable. 2:38 It's hard to invest in something when the path forward isn't crystal clear, and that brings me to the second best, uh, or, like, biggest, uh, hurdle, um, when we think about regulatory uncertainty. 2:53 So different countries have wildly different takes on, on blockchain, especially when it comes to things like smart contracts or digital assets. 3:05 So it's, it's, it's no wonder businesses, particularly in, like, um, tight regulated industries, are hesitant to dive, to dive in. 3:17 And, um, I guess another point is we cannot ignore the, um, technical challenges as well. So scalability is a, a big one. Things like transaction speed or energy usage can be, um, real, uh, sticking points, right? 3:35 And so there's always the question of how blockchain fits into their existing system, so their legacy. 3:42 Um, and it, it's not just about adopting something new, it's about making sure it plays well and nicely with what's already in there. Yeah, these sound like real significant barriers. Mm-hmm. 3:56 Um, at Plutus21, how do you guys help organizations overcome these challenges? Um, that's a great question. 4:04 The main reason you and I are here today is to educate, uh, our audience, whether they're, um, business leaders, aspiring entrepreneurs, or anyone really curious about how blockchain and AI can transform their, uh, businesses or their industries. 4:23 Um, it's really all about sharing knowledge, which is exactly why we created Plutus21 Pulse, which is basically our baby, uh, both the podcast and the newsletter. 4:34 So the main idea is that we wanted to break down complex concepts into practical insights that anyone can understand and actually use, and, um, 4:46 it's not, uh, it's not just about knowing what these technologies are, it's about understanding, uh, what they can do for you, right? 4:54 So beyond that, uh, for, I guess for those who approach us with specific needs, we provide tailored consulting services, and you know what's great? Uh, is that we don't have a dedicated sales team. 5:12 We've never needed one. Our work, uh, speaks for itself, honestly. So I guess thanks to the trust we've built with clients throughout the years, our business today actually thrives on, uh, referrals. 5:26 That's how, you know, the relationships we build and the solution we deliver really matter. 5:32 Um, I guess it's about showing up as the best option every time, and, um, when it comes to the technical side, we focus on, uh, seamless integration. 5:44 So our team of engineers develop solutions that fit effortlessly with a company's existing system, um, making sure that adopting blockchain or AI doesn't feel like, uh, they are, like, tearing everything down and, and starting from, from scratch. 6:00 It's, uh, it's about making that transition smooth but also impactful.No, I definitely love that, especially just showing, mentioning showing up with the best option every single time. 6:14 You know, we share that commitment to making complex technologies accessible and practical. Mm-hmm. And the way you break down these technologies is super approachable. You know, as I founded SweetBot- Mm-hmm... 6:24 the idea really came from seeing how overwhelmed folks were by AI. There's so much potential there, but with so little clarity on actually how to use it in a meaningful way. 6:35 So I created something that didn't just talk about AI as this big abstract concept, but instead helping people connect with it in a practical way that's really human-centered. 6:47 So when I think about blockchain and AI, I see them as tools. Mm-hmm. And especially when combined, can solve some of the complex problems that businesses face. So AI is an incredible, 7:01 uh, you know, a tool in helping analyze massive data sets, identifying the insights from those sets, um, while blockchain really ensures that those data sets are secure, tamper-proof, and transparent. 7:15 So together they create this synergy- Mm-hmm... that allows for smarter decisions and greater trust. So that really got me thinking, um, how should businesses look at the two together? So 7:30 as complementary tools that work together more than kind of competing sol- solutions. No, absolutely. How do you see them kind of pairing together? Yeah, like, they are, uh, extremely complementary together, right? 7:42 So think of blockchain, um, as like creating trust in data, and AI as creating insights from that same data. 7:52 So for example, um, in, like, supply chain management, blockchain ensures that the data about shipments and inventory is trustworthy, right? 8:03 And so AI can analyze that verified data to optimize routing and predict maintenance needs. 8:11 Um, I guess what's crucial is understanding which technology or, like, combination of technologies best solves your specific business problem. 8:22 Um, and it's not about adopting technology for the, you know, the technology's sake, um, it's literally how, you know... You know, you've mentioned SweetBot. We're practically deciphering blockchain technology, right? 8:36 And you're big on, on AI. So I guess my question here for you, what do you think about the cross-section of AI and, and blockchain at this point? So 8:47 a powerful example I read about AI and blockchain, you know, working together in the real world is IBM's, uh, Food Trust platform. 8:57 Their system uses blockchain to track food from farm to table, so creating this transparent and tamper-proof record of its journey. Mm-hmm. So here's where it gets really practical and interesting. 9:09 So they paired this with AI to analyze massive amounts of supply chain data, predicting descri- uh, disruptions, optimizing logistics, and even ensuring food safety. 9:22 So for instance, uh, when Walmart adopted the system, they could trace a mango's origin to just 2.2 seconds. Before it nearly took, you know, seven days or so. Mm-hmm. Mm-hmm. So think about the ripple effect of this. 9:36 Mm-hmm. Reduce food waste, uh, faster tr- response to contamination, and a whole new level of trust between the producers and the consumers. 9:45 So it's proof that when AI and blockchain come together, they don't just streamline processes, they transform industries altogether. And what used to take years of trust-building could happen in a single meeting. Mm-hmm. 9:59 So innovation spreads at the speed of verified results- Yeah... rather than the speed of accumulated trust between parties. 10:06 So think about how this can transform any industry where proving something works is half the battle. Mm-hmm. So Shaima, looking ahead, how do you see blockchain evolving alongside other frontier technologies? 10:20 Um, I guess we're entering an era of technology convergence at this point. So AI, IoT, um, and other technologies are, like, increasingly working together to solve problems, right? 10:35 So the real innovation happens at these intersections. For example, IoT devices can feed verified data into blockchain networks- Mm-hmm... which then triggers smart contracts. 10:48 While AI doesn't just analyze patterns, um, it also predicts trends, spots inefficiencies, um, find opportunities, and, um, just overall helps make decisions faster and smarter, right? 11:05 So it's about turning data into action in ways, uh, that we, we basically couldn't do before. 11:12 Uh, and this creates a powerful feedback loop of, like, trusted data, automated execution, and just a never-ending, uh, pattern of, like, improvements. So now I've gotta ask- Mm-hmm... 11:28 um, what's the weirdest use case for blockchain that you've come across so far? The weirdest, um, integration of blockchain, um, that I just happen to know about. Okay. You, you... I, I think you'll love this one, Liz. 11:43 Uh, there's a whiskey brand in Scotland that's using blockchain to let customers trace their bottle's journey from, like, uh, the distillery to the store, right? 11:55 And so every step is recorded, so you know exactly where your whiskey came from. Uh, it's, it's funny to think about it like it's blockchain, but make it boozy. 12:06 [laughs] And, and you'll ask, uh-Honestly, like, but, but why, right? Simply to combat counterfeiting, like the example we spoke about in the, um, previous episode, you know, about the, uh, luxury handbags. 12:22 Uh, but not, not just that. 12:24 It's also, like, it ensures consumer transparency and highlight their adherence to fair labor and ethical practices, which is a very important point in nowadays, you know, fast, especially fast fashion and retail, uh, but also, like, in the, um, in the booze industry. 12:43 And it's also about, like, premium branding. Uh, so blockchain adds this layer of exclusivity to high-end brands, and it aligns with the luxury market's desire for, uh, unique and verifiable products. 13:00 That's, uh, definitely a spirited example- It is [laughs]... you got there of how blockchain can, you know, elevate trust in ways that m- we might not have even thought of before. So let me throw this at you. Mm-hmm. 13:12 What are the areas that blockchain is still struggling to gain traction, and why hasn't it taken off everywhere yet? Okay, that's, uh, that's a, um, a good point, Liz. Um, 13:26 I feel like it's the, uh, inertia of existing systems. It's our tendency to stick with what's familiar to us and comfortable, even when better solutions are, like, available. 13:37 So I guess change often feels risky or inconvenient, which is fine, so we default it to if it's, if it... If something isn't broken, we don't need to fix it, and it's a, it's a type of mindset, right? 13:53 So even if what we're using is far from optimal, uh, we're stuck there. 13:58 For instance, um, in the healthcare industry, you'd think blockchain would be a, a no-brainer for managing patient records, but the industry is still reliant on outdated systems, like literally thousands of, like, files that get lost every year. 14:14 Um, and you know, like, these systems often slows its, um, um, um, adoption, but also the, uh, practicality of how things, uh, move, uh, which is a bummer. 14:29 No, I, I really see the status quo bias coming up here that, you know, if it isn't broke, why fix it? Mm. You know, this is a mindset that really needs to be pushed against. Um, really good call-out, Shayma. 14:43 We know that change management is no small feat. So speaking of healthcare, uh, let's talk about people. How do you see blockchain impacting individual lives in ways that we might not have realized yet? Okay. 14:58 Um, one example that I, you know, just discussed not long ago with one of my friends is, like, uh, when it comes to, um, you know, that... When it comes to, like, our digital identities. 15:10 So we- we've imagined a future where you control your identity on a blockchain, so you don't have to worry about your data breaches or, like, stolen, uh, passwords or, like, stolen Social Security numbers or anything of that sort. 15:25 And so your digital, um, DNA could securely store everything from your medical records, your education, literally, uh, uh, credentials. Um, you decide who gets access. It's just like 15:40 a complete shift in how we think about our personal, uh, data ownership. No, that makes a lot of sense. Um, what advice would you give s- someone starting to explore these technologies? 15:57 How would you get them going? Absolutely. Uh, start small, but think big. And I think it's li- like cliché, but it's true. 16:05 So begin with a clearly defined problem where blockchain or a combination of, um, these frontier technologies can create value to you, and then build your expertise through pilot projects. 16:18 Uh, but always keep the bigger picture in, in mind of how things can unfold. So we've covered, um, you know, a, a few use cases in the business- Mm-hmm... space. 16:33 Um, there really is something incredible about blockchain and its potential. Mm-hmm. If we were to think of it in a different way, let's say if we were to think of blockchain as an employee, 16:43 how would you describe their role and their qualities? The, the dream hire for any forward-thinking organization, um, he would, he would be... And I love when you do this. Like, I love when you pick my mind on things. 16:57 [laughs] He would be the, uh, ultimate employee, obviously. So trustworthy, organized, and someone who keeps impeccable records without ever missing a single detail. Um, 17:13 he, he will be the kind of team member who shows up, delivers exactly what they promise, and never cuts corners. Uh, but they're also, like, not just reliable. They're, they're a disruptor. 17:26 Like, you know, blockchain is a disruptive technology. So they question outdated processes. They find better ways to get things done and make you rethink how your business operates. 17:39 Um, to make it short, like, if he was an employee, if blockchain was an employee, he would be smart and innovative and just a little bit rebellious, I guess. 17:50 Essentially kinda changing the rules of the game- Absolutely... as they go about it. So, uh, so another curveball. Mm-hmm. 18:00 If blockchain is that ideal employee, what's the most unexpected industry that's hired them so far? Given all of the-Blockchain developments happening right now as we speak. 18:15 Like, it's a, a, a very, um, fast-paced, uh, industry as well. I guess I would literally link it to space exploration. 18:26 So believe it or not, blockchain is making waves beyond our planet, and, uh, it's, um, it's being used, um, to secure communication channels between satellites, ensuring that data sent across, 18:42 uh, vast distances can't be tampered with, like in space, right? And so you've got fleets of satellites collecting critical data from Earth's, uh, climate to deep space observations, and, um, 18:56 all that information needs to be securely transmitted and verified. And so, uh, blockchain acts like this, uh, digital ledger in space, ensuring every bit is, uh, trustworthy and untampered with. 19:12 Um, but also, I guess companies like Space Chain are even, uh, you know, exploring blockchain for transactions in space eco- um, economies. 19:24 So where astronauts, researchers, or even, like, space tourists can transact or exchange re- resources while orbiting Earth. 19:36 So in a way, we're already laying the groundwork for the kind of future you see in, in movies like, uh, Passengers. Um, you know that 2016 movie with, um, uh, what, what's her name? 19:47 Uh, Jennifer Lawrence and, uh, uh, Chris Pratt. I don't know if you've seen it. Yeah, yeah. Yeah, you're talking about that movie where they're stuck, I think- Yeah... 19:57 on this luxury spaceship with a bartender robot- Yeah. [laughs]... I think. Yeah, so it's wild how to think how sci-fi futures in movies is starting to feel not so sci-fi anymore. Crazy, yeah. So to think that 20:16 the thought was once a distant dream of, you know, space exploration, things that weren't achievable, is now becoming a real toolkit for solving real world problems- Mm-hmm... or I guess off world challenges. 20:30 Um, the future is closer than we think, Shaima. I think that that's what we're getting to. And you know what's even more exciting, Liz, is we're building it. We're, we're part of it now. 20:44 And with that being said, these aren't just ideas, they're truly the building blocks of tomorrow. Absolutely, yeah. 20:51 And as always, we are here to keep breaking it down one concept at a time, which, um, I guess gives us more to explore in the next episode of Polaris 21 Pulse. So stay tuned, everyone, and we'll see you next time. 21:09 Perfect. [outro music]
