We have submitted our entry to the Chainlink Fall 2022 Hackathon!
Here is the transcript from our entry:
Greetings Chainlink, Web3, and SAP Communities!
My name is Ryan Fleischmann and I am the representative from Provide Technologies Chainlink Fall 2022 Hackathon. I am the SAP Architect and Developer Evangelist at Provide and this fall we have a very special hackathon entry.
Our submission integrates Chainlink price feeds into the SAP S/4 HANA enterprise resource planning system - the #1 ERP system used by Fortune 500 businesses and other global organizations for finance, supply chain and other business processes. In so few words - we used Chainlink price feeds to update the foreign currency rates in SAP.
This hackathon entry enables SAP systems to use Chainlink price feeds to optimize their off-chain business processes with fiat currencies while also obtaining price feed information on digital assets such as Bitcoin, Ethereum and the many others supported by Chainlink price feeds. This serves as a technical and financial cornerstone towards enabling large enterprises to engage with Web3 based business models. Whether it’s a Euro, an Ether, or even something else in between - enterprises using SAP universally benefit from Chainlink price feeds fairness, transparency, decentralization and overall high performance in determining price data.
As SAP S/4 is not a blockchain system - but rather a enterprise software typically deployed behind corporate on-premise or private cloud systems - we included some additional feedback mechanisms to bring further resilience into how Chainlink price feeds are used across multiple disparate standalone SAP instances. We also considered it important to implement an approach that could lead to SAP systems contributing their pricing data back to the Chainlink decentralized oracle network itself. Here are the two feedback mechanisms we created
First - after the Chainlink price feeds are used in SAP to update its foreign currency exchange rates - the SAP ABAP Program we created for this hackathon emits a zero knowledge proof. This zero knowledge proof can be used amongst a loosely connected network of business partners to securely verify that they are all harmonized, synchronized to the same exchange rates. This zk proof - as it exists upon the PRVD Network Ethereum Layer 3 could be used for a multitude of other purposes on chain too.
Second - the SAP ABAP Program generates a file that is shared to IPFS. This file on IPFS could also be shared between other business partners for data synchronization and verification. But what really excites me is that this could become a way by which the SAP ecosystem itself could contribute pricing data back to the Chainlink DON. Given the trillions of dollars and myriad of diverse B2B and B2C transactions conducted through SAP systems today - it’s an exciting prospect to have so many of those ordinary systems of commerce begin to contribute data back to Chainlink.
Overall - We’re very proud of the business and technological use case we built for this hackathon entry. This is among the very first open source examples of smart contract, zero knowledge proof, and IPFS integration to SAP - offered through our open source project known as proUBC and also aided by Provide’s low code designer, Shuttle.
If you’d like to take a quick glance - here’s our ABAP Program executing a Chainlink price feed on Polygon, creating a zero knowledge proof and publishing data back to IPFS. There’s really a lot going on and I had to speed this up a lot to get this video under the time limit for the judging criteria. But if you want to see a longer video walking through it step by step, a link will be provided in the description.
Otherwise - you can always learn more about our chainlink hackathon entry in the repo. I also recommend you check the proUBC core repo as well the proUBC enablement docs to learn more about proUBC - the open source SAP ABAP SDK, PRVD Baseline, and zero knowledge.
On behalf of the Provide team - thank you!
Make sure to check out the full tech showcase!
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