(techy music) >> Live from Toronto, Canada, it's theCUBE covering Blockchain Futurist Conference 2018, brought to you by theCUBE. (techy music) >> Hello, everyone, and welcome back. This is the live CUBE coverage here in Toronto, Ontario here in Canada for the Untraceable Blockchain Futurist Conference. This is day two of wall-to-wall CUBE coverage. We've got great presentations going on, live content here on theCUBE as well as in the sessions, great networking, but more important all the thought leaders in the industry around the world are coming together to try to set the standards and set up a great future for cryptocurrency and blockchain in general. Our next two guests are very special guests for theCUBE and we're excited to have them on, the Honorable Wayne Caines, Minister of National Security for the government of Bermuda, and Kevin Richards, concierge on the Fintech business development manager, part of the Bermuda Business Development Agency. Thank you guys for coming on, really appreciate the time. >> Thanks very much. >> Thank you for having us. >> Why this is so important is that we heard your presentation onstage, for the folks, they can catch it online when they film it and record it, but the Bermuda opportunity has really emerged as a shining light around the world, specifically in the United States. In California, where I live, Silicon Valley, you guys are now having great progress in hosting companies and being crypto-friendly. Take a minute to explain what's happening, what's the current situation, why Bermuda, why now, what's developing? >> This has all happened over the last eight months. We were looking in November of 2017 to go in the space. In January we went to the World Economic Forum in Davos in Switzerland. When we went to Davos in Switzerland something very interesting happened. People kept coming up to us, I was like the Hound of the Baskerville, or the Pied Piper if you please, and so, so many people were coming up to us finding out more information about Bermuda. We realized that our plan that we thought we could phase in over 18 months, that it had to be accelerated. So, whilst we were at the World Economic Forum in Davos we said to people, "Listen, if you want to change the world, "if you want to help Bermuda to grow, if you're serious," this is a Thursday, "Meet us in Bermuda on the Monday morning." On the Monday morning there are 14 different people in the room. We sat in the room, we talked about what we wanted the world to be, how could Bermuda be in place, what are the needs in this industry, and by the Wednesday we had a complete and total framework, and so we split up into industries. Number one was ICOs, we wanted to look at how to regulate the ICO market. Number two, we wanted to look at digital asset exchanges or cryptocurrencies or how do we regulate security tokens and utility tokens and what do exchanges look like, how do we do exchanges in Bermuda, and then we wanted to talk about education and setting up incubators. And so, come fast forward to July, August, we have an ICO bill in place that allows us to look at setting up ICOs in Bermuda. We wanted to focus on the legal and the regulatory framework, so this is a nascent space. A number of people are concerned about the dark actors, and so we wanted to set up a jurisdiction that traded on our international reputation. Now, remember for the last 60 years reinsurance, finance, captives, hedge funds, people in the financial services market have been coming to Bermuda because that's what we do well. We were trading on the reputation of our country, and so we couldn't do anything to jeopardize that. And so, when we put in place the ICO legislation we had consultants from all over the world, people that were bastions and beasts in industry, in the ICO industry and in the crypto world came to Bermuda and helped us to develop the legislation around setting up an ICO. So, we passed the ICO legislation. The next phase was regulating cryptocurrencies, regulating digital assets, and we set up a piece of legislation called the Digital Asset Business Act, and that just regulates the digital asset space exchanges, and the last piece we wanted to do was a banking piece, and this is the last and we believe the most significant piece. We were talking to people and they were not able to open up bank accounts and they were not able to do, so we said, "Listen, "the Bermuda banking environment is very strong." Our banking partners were like, "Listen, "we love what you guys are doing, "but based on our corresponding banking relationships "we don't want to do anything to jeopardize that space," but how could we tell people to come to Bermuda, set up your company, and they can't open bank accounts? And so, we looked at, we just recently passed creating a new banking license that allows people to set up their business in Bermuda and set up banking relationships and set up bank accounts. That simply has to receive the governor's Royal Assent. As you know, Bermuda's still a British pan-territory, and financial matters have to get the okay of the Queen, and so that is in the final stages, but we're excited, we're seeing an influx, excuse me, a deluge of people coming to Bermuda to set up their companies in Bermuda. >> So, the first two pieces are in place, you have the legislation... >> Mm-hm. >> Mm-hm. >> You have the crypto piece, and now the banking's not yet, almost approved, right? >> It's there, it simply has to get the final sign-off, and we believe that it should take place within the next two weeks. So, by the time this goes to air and people see it we believe that piece will be in place. >> So, this is great news, so the historical perspective is you guys had a good reputation, you have things going on, now you added on a new piece not to compromise your existing relationships and build it on. What have you guys learned in the process, what did you discover, was it easy, was it hard, what are some of the learnings? >> What we've learnt is that KYC, know your customers, and the AML, anti-money laundering, and terrorist financing pieces, those are the critical pieces. People are looking in this space now for regulatory certainty, so when you're talking about people that are in the space that are doing ICOs of $500 million or exchanges that are becoming unicorns, a billion dollar entity in three months, they want a jurisdiction that has regulatory certainty. Not only do they want a jurisdiction with regulatory certainty, they want to open up the kimono. What has this country done in the past, what do they have to trade on? We're saying you can go to a number of countries in the world, but look at our reputation, what we're trading on, and so we wanted to create a space with regulatory certainty, and so we have a regulatory body in Bermuda called the Bermuda Monetary Authority, and they are an independent regulator that they penned the Digital Asset Business Act, and so the opportunity simply for people around the world saying, "Listen, we want to do an ICO, "we want to set up an exchange. "Where's a country that we can go to that has a solid reputation? Hold on, how many countries have law surrounding"-- >> Yeah. >> "The Digital Asset Business Act, how many ICO countries have laws. Guess what, Bermuda becomes a standout jurisdiction in that regard. >> Having a regulation signaling is really important, stability or comfort is one, but the one concern that we hear from entrepreneurs, including, you know, ourselves when we look at the market is service providers. You want to have enough service providers around the table so when I come in and domicile, say, in Bermuda you want to have the banking relationships, you want to have the fiduciary-- >> Yes. >> You want to have service providers, law firms and other people. >> Yes. >> How are you guys talking about that, is that already in place? How does that fit into the overall roadmap for your vision? >> I don't want to beat a horse (laughs) or beat a drum too much, that is what we do as a country. So, we have set up, whether it's a group of law firms and the Bermuda, excuse me, the Bermuda Monetary Authority, the Bermuda that's the register of companies that sets up the companies. We have Kevin, and Kevin will tell you about it, he leads our concierge team. So, it's one throat to choke, one person that needs, so when you come to really understand that the ease of business, a county that's business-friendly with a small country and with a small government it's about ease of reference. Kevin, tell us a little about the concierge team. >> It's like the Delaware of the glove, right? >> Absolutely. >> Come in, domicile, go and tell us how it works. >> I'll give you a little bit of background on what we do on the concierge side. So, one thing that we identified is that we want to make sure that we've got a structure and a very clearly defined roadmap for companies to follow so that process from when they first connect with the BDA in Bermuda to when they're incorporated and set up and moved to Bermuda to start running their business is a seamless process that has very clearly identifiable road marks of different criteria to get through. So, what I do as a concierge manager is I will identify who that company needs to connect with when they're on the ground in Bermuda, get those meetings set up for when they come down so that they have a very clearly mapped out day for their trip to Bermuda. So, they meet with the regulator, they meet with the government leaders, they meet with the folks who've put together legislation that, obviously you mentioned the service providers, so identifying who's the right law firm, corporate service provider, advisory firm on the ground in Bermuda, compliance company, and then making sure that depending on what that company wants to achieve out of their operation in Bermuda they've got an opportunity to connect with those partners on their first trip so that they can put that road map together for-- >> So, making it easy... >> Making it very easy to set up in Bermuda. >> So, walk me through, I want to come down, I want to do business-- >> Yeah. >> Like what I hear, what do I do? >> So, you send me an email and you say, "Listen, Wayne, we're looking at "doing an ICO launch in Bermuda. "I would like to meet with the regulator. "Can you put a couple law firms in place," in an email. I zip that over to Kevin or you go on our Fintech.bm website-- >> Yeah, I was going to say... >> Fintech.bm website, and Kevin literally organizes a meeting. So, when you come to Bermuda for your meeting you have a boardroom and all the key players will be in the boardroom. >> Got it. >> If you need somebody to pick you up at the airport, if you need a hotel, whatever you need from soup to nuts our team actually makes that available to you, so you're not running around trying to find different people to meet, everyone's there in the room. >> And the beauty of Bermuda is that, you know, the city of Hamilton's two square kilometers, so your ability to get a lot done in one day is, I think, second to nowhere else on the planet, and working with the BDA concierge team you're, you know, we connect with the client before they come down and make sure we identify what their needs are. >> The number one question I have to ask, and this is probably the most important for everyone, is do they have to wear Bermuda shorts? (laughs) >> When you come you tell us your size, you tell us what size and what color you want and we'll make sure, so the... I tell this story about the Bermuda shorts. The Bermuda shorts, Bermuda's always had to adapt and overcome. Bermuda, we have something called the Bermuda sloop and it's a sailing rig, and so we... The closest port to Bermuda is Cape Hatteras in North Carolina and we wanted to cut down the time of their voyage, so we created a sailing rig called the Bermuda rig or the Bermuda sloop. Over the years that has become the number one adopted rig on sailing boats. We've always had to adapt and become innovative. The Bermuda shorts were a way to adapt and to get through our very hot climate, and so if you look at just keep that in mind, the innovation of the Bermuda sloop and the Bermuda shorts. Now, this Fintech evolution is another step in that innovation and a way that we take what's going on in the world and adapt it to make it palatable for everyone. >> What's the brand promise for you guys when you look at when entrepreneurs out there and other major institutions, especially in the United States, again, Silicon Valley's one of the hottest issues around-- >> Yes. >> Startups for expansion, right now people are stalled, they don't know what to do, they hear Malta, they hear other things going on. What's the promise that you guys are making to the law firms and the people, entrepreneurs out there trying to establish and grow? >> The business proposition is this, you want a jurisdiction that is trading on years of solid regulation, a country and a government that understands business, how to be efficacious in business. When you come to Bermuda you are trading on a country that this is what we've done for a living. So, you don't have to worry about ethical government, is your money going to be safe. We have strong banking relationships, strong law firms, top tier law firms in Bermuda, but more importantly, we have legislation that is in place that allow you to have a secure environment with a clear regulatory framework. >> What should people look for as potentially might be gimmicks for other countries to promote that, you know, being the Delaware for the globe and domiciling, and what are some of the requirements? I mean, some have you've got to live there, you know, what are some of the things that are false promises that you hear from other potential areas that you guys see and don't have to require and put the pressure on someone? >> When you hear the people say, "We can turn your company around in the next day." That we don't require significant KYC and AML. Red flags immediately go up with the global regulatory bodies. We want when a person comes to Bermuda to know that we have set what we believe is called the Bermuda Standard. When you come to Bermuda you're going to have to jump through some legal and regulatory hoops. You can see regulation, the ICO regulation and the Digital Asset Business Act on BermudaLaws.bm. BermudaLaws.bm, and you can go through the legislation clause by clause to see if this meets your needs, how it will affect your business. It sets up clearly what the requirements are to be in Bermuda. >> What's the feedback from business, because you know, when you hear about certain things, that's why Delaware's so easy, easy to set up, source price all know how to do in a corporation, let's say in the United States-- >> We don't have the SEC handicaps that they have in America, going from jurisdiction to jurisdiction. You're dealing with a colony that allows you to be in a domicile that all of the key players finances... We have a number of the key elements that are Bermuda. We're creating a biosphere that allows a person to be in a key space, and this is, you have first move as advantage in Bermuda. We have a number of things that we're working on, like the Estonia model of e-residency, which we will call EID, that creates a space that you are in Bermuda in a space that is, it's protected, it's governed. We believe that when companies set up in Bermuda they are getting the most secure, the strongest business reputation that a country could have. >> The other thing I would add, I'll just say, you know, quality, certainty, and community is what that brand represents. So, you know, you've got that historical quality of what Bermuda brings as a business jurisdiction, you have the certainty of the regulation and that pathway to setting your company up and incorporating in Bermuda, and then the community piece is something that we've been working on to make sure that any of the players that are coming to Bermuda and connecting with Bermuda and setting up there, they feel like they're really integrated into that whole community in Bermuda, whether it be from the government side, the private sector side. You can see it with the companies that have set up that are here today, you know, they really have embraced that Bermuda culture, the Bermuda shorts, and what we're really trying to do as a jurisdiction in the tech space. >> What can I expect if I domicile in Bermuda from a company perspective, what do I have to forecast? What's the budget, what do I got to do, what's my expectation? Allocate resources, what's going to be reporting, can you just give us some color commentary? >> So, with reference, it depends what you're trying to do, and so there will be different requirements for the ICO legislation. For the ICO legislation a key piece of the document actually is the whitepaper. Within the whitepaper you will settle what your scope of business is, what do you want to do, what you know, everything, everything that you require will be settled in your whitepaper. After the whitepaper is approved and if it is indeed successful, you go to the Bermuda Monetary Authority and they will outline what they require of you, and very shortly thereafter you will able to set up and do business in Bermuda. With reference to the digital asset exchanges, the Digital Asset Business Act, such a clear guideline, so you're going to need to have a key man in Bermuda, a key woman in Bermuda. >> Yeah. >> You're going to need to have a place of presence in Bermuda, so there are normal requirements-- >> There's levels of requirements based upon the scope. >> Absolutely. >> So, if you run an exchange it has to be like ghosting there. >> Yeah, yeah, you need boots on the ground. >> And that's why the AML and the KYC piece is so important. >> Yeah. Well, I'm super excited, I think this is a great progress and this has been a big uncertainty, you know, what does this signal. People have, you know, cognitive dissonance around some-- >> Yes. >> Of the decisions they're making, and I've seen entrepreneurs flip flop between Liechtenstein, Malta, Caymans. >> Right. >> You know, so this is a real concern and you guys want to be that place. >> Not only, we will say this, Bermuda is open for business, but remember, when you see the requirements that we have some companies won't meet the standard. We're not going to alter the standard to accommodate a business that might not be what we believe is best for Bermuda, and we believe that once people see the standard, the Bermuda Standard, it'll cascade down and we believe that high tides raises all boats. >> Yeah. >> We have a global standard, and if a company meets it we will be happy for them to set up and do business in Bermuda. >> Well, I got to say, it's looking certainly that leaders like Grant Fondo in Silicon Valley and others have heard good things. >> Yeah. >> How's been the reaction for some of the folks on the East Coast, in New York and around the United States and around the world? What has been some of the commentary, what's been the anecdotal feedback that you've heard? >> We're meeting three and four companies every day of the week. Our runway is full of Fintech companies coming to Bermuda, from... We have insurtech companies that are coming in Bermuda, people are coming to Bermuda for think tanks, to set up incubators and to do exploratory meetings, and so we're seeing a huge interest in Bermuda the likes have not been seen in the last 20 years in Bermuda. >> Well, it's been a pleasure chatting with you and thanks for sharing the update and congratulations. We'll keep in touch, we're following your progress from California, we'll follow up again. The Honorable Wayne Caines, the Minister of National Security of the government of Bermuda, and Kevin Richards, concierge taking care of business, making it easy for people. >> Oh, yeah, oh, yeah. >> We'll see, I'm going to come down, give me the demo. >> We're open for business and we're looking forward to seeing everybody. (laughs) >> Thank you for the opportunity. >> Thank you very much. >> Thank you. >> Major developments happening in the blockchain, crypto space. We're starting to see formation clarity around, standards around traditional structures but not so traditional. It's not your grandfather's traditional model. This is what's great about blockchain and crypto. CUBE coverage here, I'm John Furrier, thanks for watching, stay with us. More day two coverage after this short break. (techy music)

>> Announcer: theCUBE presents "On the Ground." (light techno music) >> Hello there and welcome to SiliconANGLE's theCUBE, On the Ground, here at Oracle's Headquarters. I'm John Furrier, the host of theCUBE, and I'm here with Neil Mendelson, the Vice President of Product Management for the Big Data Team at Oracle. Welcome to On the Ground, thanks for having us here, at Headquarters. >> Good to be here. >> So big data, obviously a big focus of Oracle OpenWorld, is right around the corner but in general, big data breadth of products from Oracle, has been around for awhile. What's your take on this? Because Oracle is doing very well with this new Cloud storing. My interview with Mark Hurd, 100% of the code has been cloudified. Big data now is a big part of the Cloud dynamic. What are some of the things that you're seeing out in the marketplace around big data, and where does Oracle fit? >> Well, you know, when this whole big data thing started years ago, I mean Hadoop just hit its 10th anniversary, right? Everybody was talking about throwing everything out that they had and there was no reason for SQL anymore and you're just going to throw a bunch of stuff together yourself and put it together and off you go, right? And now I think people have realized that to get the real value out of these new technologies, it's not a question of just the new technologies alone, but how do you integrate those with your existing estates. >> So Oracle obviously is a big database business, you know, I mean Tom Curry, with "Hey the database, take your swim lane", but what's interesting is with Hadoop and some of these other ecosystems, what customers are looking for is to not just use Oracle database but to use whatever they might see as a feature of some use case. >> Neil: Absolutely. >> Hadoop for batch. So you guys have been connecting these systems, so could you just quickly explain for a minute how you guys look at this choice factor from a customer standpoint because there's a role for Hadoop, but Hadoop isn't going to take over the whole world as we see in the ecosystem. What's your role, vis-a-vis the database choice? >> Yeah, so we very much believe when Oracle started, it was all about Database, and it was all about SQL. And we believe now that the new normal is really one that includes both Hadoop, NoSQL, and Relational, right? SQL is of course still a factor, but so are the ability to interface, in via rest interfaces and scripting languages. So for us, it's really a big tent, and we've been taking what we had done previously in Database and really extending that to Data Management over Hadoop and NoSQL. >> We had a great chat at Oracle OpenWorld last year, and you talked about your history at Oracle before you did you run with start-ups. You've seen this movie go on early days with data warehousing, so I got to ask you, big data's not new to Oracle, obviously the database business has been thriving and changing with the Cloud around the corner and certainly here on the doorstep but could you explain Oracle's Database, I mean, big data product offerings? >> Sure. >> What was the first product? Take us through the lineage of where it is, because you guys have products. >> We do. >> And a slew of stuff is coming, I can imagine, I'm sure you can't share much about that but talk about the lineage right now. >> Okay, so we started about three years ago on the Hadoop side by making an appliance made for Hadoop and then in the future, which followed on with Spark. And that appliance has been doing well on the marketplace for a number of years and we've obviously continued to enhance that. We then took what we perfected on premises and we moved that up to the Cloud, so we have a big data cloud service for customers that offer them high-performance access to Hadoop and Spark and without necessarily the need to actually manage security and all the things with it. At OpenWorld, we'll be making a series of announcements, we'll be creating yet another big data Cloud service. This one will be fully managed, fully elastic for customers who only want to take advantage of a Hadoop or Sparks service, as an example, and don't want to deal with the ability to specifically tweak the environment, right? We also announced a little while ago, our family of Cloud Machines, right? So you'll see, a, the first Cloud Machine is one that provides Oracle IaaS and PaaS services and then we'll add to the family. >> John: That's shipping already, though. >> That's shipping already, right? And then we'll add to the family, an Exadata Cloud Machine and a big data Cloud Machine and the Cloud Machines are really kind of a cool concept. They're cool because for a lot of customers from a regulatory point of view or otherwise, they're just not ready for the public Cloud, but everybody wants to take advantage of what the Cloud provides. So how do you do that behind your firewall, right? How do you provide IT as a service? So what Oracle has done essentially, is to package up its Cloud services and able to deliver that to customers behind the firewall and they get the exact same technology that they have on the public Cloud, they build to one architecture and then deploy it wherever they choose. They get the advantages of the Cloud, it's a subscription service, right, but they can deal with but they can adhere to whatever data sovereignty or issues that they might have. >> So let's get to that regulatory dynamic in a second but I just want to back up, so Big Data Appliance, B-D-A you guys call it, Big Data Appliance, that's been out. Big data service... >> Neil: Cloud service started about a year ago. >> Done a year, that's out there. Those laces that connect Appliance that's on-pem with the Cloud. >> Neil: Right. >> And then now you have the cloud machine series of enhancements coming in Oracle Openworld. >> Right, as well as a fully elastic, fully managed cloud service that will add to the mix as well >> Okay, so let's get down, so that's going to bring us fully cloud-enabled. >> Yep. >> Cloud on-premise, >> Both. >> All that kind of dynamic flexibility and an option for cloud configurations and depressuring. Okay, back to the regulatory thing. So what's the big deal about that, because you mentioned that most companies we talk to love the cloud, they love the economics, but there's a lot of fund and fear internally amongst their own team about getting sued, losing data, you know, certain industries that they might have to play, is that a fact and can you explain that for someone and what's important about that. >> Yeah I mean, for some customers it's a real concern, right, and the world is dynamically shifting, I mean, look at what happened a few months ago with you know the Brexit, right, I mean all of a sudden it was OK to have, you know, the data as long as it was in the EU, well the EU is now shifting, so where does the data go, right? So from a regulatory point of view we haven't fully settled in terms of where customer data can be held, exactly how its treated, and you know those things are evolving. So for a number of companies, they want the advantages of the cloud but they don't necessarily want it on the public cloud and that's why we're offering these new cloud machines because they can essentially have their cake and eat it too. >> So interesting, the dynamic then is is that this whole regulatory thing is a moving train. >> Right. >> Relative to the whole global landscape. >> Right. >> Who knows what's going to happen with China and other things, right? >> Right and I think that's what's really terrific is that our history is, of course, were a company that's been around for a while so we started on premises and we moved up to the cloud and our customers are ones that are going to have, kind of, this hybrid kind of a system, right. Other companies started much later and their cloud only and you know while that's great for companies that want the public cloud. What do you do if you're in a regulatory environment that isn't ready to boot public cloud? Now you have to have two architectures, one for on-premises and one for cloud and then how do you deal with a moving landscape where a year from now things that are on premises can move to the cloud and other things that are in the cloud may have to move to back on premises, right? How do you deal with that dynamic going forward and not get stuck. >> So, is it fair to say that Oracle is a big data player in the cloud and on-premise? >> Absolutely, and not just for data management. I think that you know while we started at that core, that's our heritage, we've so much built out our portfolio, we have big data products in the data integration space, in the machine learning space, we have big data products that connect up with our IoT strategy, with data visualization, we've really blossomed as the marketplace has matured bringing additional technology for customers to utilize. >> Okay, so let's get down to the reality and get into the weeds with customer deployments. How do you guys compare vis-a-vis the competition now you got the on-prem with the BDA, Big Data Appliance with the cloud service, cloud machines to create some provisioning, flexibility on whether architectures the customers may choose. >> Yeah. For whatever reason that they would have. >> Okay. How does that compare to the competition? >> On the on-premises side, if we start there, there was a recent Forrester Wave that looked at various Hadoop appliances and we took the number one category or the number one position across all the three categories that they looked at, they looked at the strategy, they looked at the market presence and they looked at the capability of what we offered and we ended up number one in that space. On the cloud side, of course, we're maturing in terms of that offering as well but you know we're really the only company out there that can offer the same architecture both on cloud and on-premises, where you don't necessarily have to go all in on one or the other, and for many companies that's exactly what they're, you know, what they need right. They can't necessarily go all in one way or the other. >> So I got to ask you kind of a, put your Oracle historian tech historian hat on as well as your Oracle executive hat on and talk about some of the technologies that have come and gone over the years and how does that relate to some of the things that are hyped up now? I mean certainly Hadoop, what's supposed to be this new industry, it's going to disrupt the database and Oracle's going to be put out of business and this is how people are going to store stuff, MapReduce. Now people are saying, why even have Hadoop in the cloud when you got object store. So, things come and go, I'm not saying Hadoop is going to come and go but it's good for batch but so, what's your comments on it can you point to industry technology, say okay, that's going to be a feature of something else, that's a real deal? What are some of the things that you look at that you can say... >> So you know we're seeing exactly as you described, a few years ago you go to a conference and it was all about MapReduce. Right now, a seminar in MapReduce, nobody goes, right. Everybody's going to Spark, right, and there's already things that potentially will replace Spark, things like Flink, and we're going to see that continual change and a lot of what we focused on is to be able to provide some level of abstraction between the customers architecture and these moving technology. So, I'll give an example. Our data integration technology, historically that was, you know, you're able to visually describe a set of transformations and then we generated code in SQL or PL/SQL. Now we generate code, not only in SQL and PL/SQL but we generate that same code in Spark. If tomorrow Spark gets replaced with Flink or something else, we simply replace the code generator underneath and all of what the customers built gets preserved and moved into the future. I think a lot of people are now becoming concerned that as they take advantage of open source really really at the very low levels they have the potential to essentially get stuck in a technology which has essentially become obsoleted, right? >> Yeah. >> As any new technology evolves we move from people who just code, right, with all the lower level stuff up to a set of tools and you know we talk to companies now that have huge amounts of now legacy MapReduce code, right, you think only a few years ago... >> It's kinds like cobalt. >> Neil: Yeah. (John laughing) >> Neil: So... >> I's going to be around but not really pervasive. >> Right. So how can you take advantage of these technologies, without necessarily having to get stuck to any one of them. >> So, I'm going to ask you the philosophical question, so Oracle database business has been the star over the years since the founding but even now it seems to me that the role of the database becomes even more important as you connect subsystems, call it, Hadoop, Spark, whatever technology's going to evolve as a feature of an integrated system, if you will, software-based and or engineered system coming together. So that seems to be obvious that you can connect in an open way and give customers choice but that's kind of different from the old Oracle. I have a database everything runs on Oracle, Oracle on Oracle's grade, certainly it runs well but what's the philosophy internally obviously the database team's sitting there it must be like, wow big data is an opportunity for Oracle. >> That's right. Or do they go, no the database business is different. How do you guys talk about that internally and then how do customers take away from that dynamic between the database crown jewel and the opening it up and being more big data driven? >> I think it's ironic because, externally, when you talk to people, they just assume that we're going to be like "Oh my god this is a threat" and we're going to just double down on what we're doing on the database side and we're just going to hunker down and I don't know try to hide, right? But that's exactly the opposite of what we're really been doing internally. We really have embraced these technologies of Hadoop and Spark and NoSQL, and we're essentially seeing data management evolve, that is the new normal. So rather than looking at, not only what we might have said, we did say when we introduced Oracle in the data warehousing market back in '95, We said "Put all your data in the Oracle database." We're not saying that anymore because there are reasons to put data in Hadoop, there are reasons to put data in graph databases, in NoSQL databases, we need to be able to provide those choice while still integrating that data management platform as one integrated entity. >> Would you say then it was fair to say that, from a customer standpoint, by having that open approach gives more faster access to different data types in real time? >> Absolutely. >> John: Then isn't that the core value proposition of big data. >> Yeah, again when the Hadoop new craze first started it was all about unload and put everything in this one store and for a lot of companies today, they still are faced with the this conundrum which says, in order to analyze data, I have to put it all in one place. So that means that you have to move your operational data into one place, you have to move your data warehousing stuff into one place, but then at the same time you mentioned real time. How do you get into the business of moving data from Place A to Place B on a constant basis while still being able to offer real-time access and real-time analytics? The answer is you can't. >> And the value of the data, the data capital, as we've been talking about, McGee bond is an IoT piece of data from a turbine could have really big relevance to the system of record in another database and that has to be exposed and integrated quickly to surface some insight about the quality of that... >> It's the thing that gives you context, right. Today what's going on is that we are getting all access to all these rich data sources and rich data types that we didn't have before, whether that's text information or information coming off sensors and alike, and the relevance of that information is, when we combined it together with the corporate information, the stuff that we have in our existing systems to really reap the true benefit. How do you know, when you get a log file the log file doesn't have anything about the customer in it, the log file just has a, a number associating itself to a customer. You have to tie that together with the customer profile which data which might not exist in Hadoop, maybe it's in a NoSQL store. >> And certainly the Open Source is booming with Oracle. You guys are actively involved in all the different open source ecosystems. >> Sure, we drive a number of open source projects whether it's MySQL or Java or, the list goes on and on. Many people don't think of, you know, they're not even aware that Oracle's behind my MySQL. As an example, right, I mean, I remember talking to my son recently he says, "Do you know anything about MySQL" and I'm like well a little bit. And then as we're talking and were looking through his code, finally I say, "You know this is Ooracle product," He's like no it's not. You know cause... >> It's too cool to be Oracle. >> That's right. That's not a bad thing, right. >> Yeah. I mean the reality of it is, is that you know we've invested a whole lot of time and energy in these technologies and we're really looking to commercialize them to mainstream them, to make them less scary for more people to be able to get value from. Well your son's example's a great illustration of the new Oracle that's out there now this whole new philosophy. Final, give you the last word real quick, for folks watching, what's one thing you'd want to share with them that they may or may not know about Oracle and it's big data strategy? >> Give us a look. Right, I mean I think that when you think of big data and you think of these new technologies, you may not think of Oracle, right. You may think of the new companies that you're more familiar with in the light. The reality of is, is that Oracle has an extraordinarily rich portfolio of technology and services on the cloud as well as like cloud machines. So give us a look, I think you'll be surprised at how open we are, how much of the open source technology we've embedded in our products and how fast were essentially evolving into, what is the new normal. >> Neil thanks so much for spending the with me here On the Ground. I'm john Furrier, you're watching exclusive "On the Ground" coverage here at Oracle Headquarters. Thanks for watching. >> Neil: Thank you.