WEBVTT Kind: captions Language: en 00:00:05.210 --> 00:00:10.450 align:start position:0% [Music] 00:00:10.450 --> 00:00:10.460 align:start position:0% [Music] 00:00:10.460 --> 00:00:14.150 align:start position:0% [Music] thank<00:00:11.460> you 00:00:14.150 --> 00:00:14.160 align:start position:0% 00:00:14.160 --> 00:00:15.950 align:start position:0% hey<00:00:14.460> everybody<00:00:14.700> my<00:00:15.000> name<00:00:15.120> is<00:00:15.179> Camila<00:00:15.599> Ramos 00:00:15.950 --> 00:00:15.960 align:start position:0% hey everybody my name is Camila Ramos 00:00:15.960 --> 00:00:17.870 align:start position:0% hey everybody my name is Camila Ramos this<00:00:16.260> talk<00:00:16.500> is<00:00:16.740> super<00:00:16.920> important<00:00:17.460> and<00:00:17.520> amazing 00:00:17.870 --> 00:00:17.880 align:start position:0% this talk is super important and amazing 00:00:17.880 --> 00:00:20.450 align:start position:0% this talk is super important and amazing to<00:00:18.000> me<00:00:18.119> because<00:00:18.300> when<00:00:18.600> I'm<00:00:18.779> Colombian<00:00:19.400> I<00:00:20.400> was 00:00:20.450 --> 00:00:20.460 align:start position:0% to me because when I'm Colombian I was 00:00:20.460 --> 00:00:23.150 align:start position:0% to me because when I'm Colombian I was born<00:00:20.580> in<00:00:20.760> Bogota<00:00:21.119> my<00:00:21.900> family<00:00:22.020> is<00:00:22.199> Colombian<00:00:22.680> we 00:00:23.150 --> 00:00:23.160 align:start position:0% born in Bogota my family is Colombian we 00:00:23.160 --> 00:00:24.590 align:start position:0% born in Bogota my family is Colombian we can<00:00:23.340> go<00:00:23.460> through<00:00:23.580> a<00:00:23.760> whole<00:00:23.880> journey<00:00:24.180> of<00:00:24.420> what 00:00:24.590 --> 00:00:24.600 align:start position:0% can go through a whole journey of what 00:00:24.600 --> 00:00:25.910 align:start position:0% can go through a whole journey of what this<00:00:24.720> means<00:00:24.960> to<00:00:25.019> me<00:00:25.140> to<00:00:25.260> be<00:00:25.380> back<00:00:25.500> in<00:00:25.619> my<00:00:25.800> home 00:00:25.910 --> 00:00:25.920 align:start position:0% this means to me to be back in my home 00:00:25.920 --> 00:00:27.410 align:start position:0% this means to me to be back in my home country<00:00:26.100> talking<00:00:26.400> to<00:00:26.640> you<00:00:26.699> guys<00:00:26.820> but<00:00:27.119> the<00:00:27.300> one 00:00:27.410 --> 00:00:27.420 align:start position:0% country talking to you guys but the one 00:00:27.420 --> 00:00:29.269 align:start position:0% country talking to you guys but the one request<00:00:27.779> I<00:00:27.960> have<00:00:28.080> is<00:00:28.320> can<00:00:28.680> someone<00:00:28.859> take<00:00:29.099> cute 00:00:29.269 --> 00:00:29.279 align:start position:0% request I have is can someone take cute 00:00:29.279 --> 00:00:30.589 align:start position:0% request I have is can someone take cute pictures<00:00:29.519> of<00:00:29.699> me<00:00:29.820> so<00:00:29.939> I<00:00:30.060> can<00:00:30.119> send<00:00:30.240> it<00:00:30.359> to<00:00:30.480> my 00:00:30.589 --> 00:00:30.599 align:start position:0% pictures of me so I can send it to my 00:00:30.599 --> 00:00:32.269 align:start position:0% pictures of me so I can send it to my mom<00:00:30.720> and<00:00:30.960> tell<00:00:31.140> her<00:00:31.320> that<00:00:31.740> I<00:00:31.920> spoke<00:00:32.099> in 00:00:32.269 --> 00:00:32.279 align:start position:0% mom and tell her that I spoke in 00:00:32.279 --> 00:00:33.410 align:start position:0% mom and tell her that I spoke in Colombia 00:00:33.410 --> 00:00:33.420 align:start position:0% Colombia 00:00:33.420 --> 00:00:36.170 align:start position:0% Colombia thank<00:00:34.020> you<00:00:34.140> okay<00:00:34.440> cool<00:00:34.800> so<00:00:35.579> today<00:00:35.820> we're<00:00:36.059> gonna 00:00:36.170 --> 00:00:36.180 align:start position:0% thank you okay cool so today we're gonna 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about machismo inflation<00:00:40.620> remittance<00:00:41.219> scaling<00:00:41.879> ethereum 00:00:42.229 --> 00:00:42.239 align:start position:0% inflation remittance scaling ethereum 00:00:42.239 --> 00:00:43.850 align:start position:0% inflation remittance scaling ethereum for<00:00:42.420> widespread<00:00:42.899> adoption<00:00:43.320> in<00:00:43.440> Latin<00:00:43.739> America 00:00:43.850 --> 00:00:43.860 align:start position:0% for widespread adoption in Latin America 00:00:43.860 --> 00:00:45.530 align:start position:0% for widespread adoption in Latin America what<00:00:44.399> does<00:00:44.520> it<00:00:44.640> mean<00:00:44.760> from<00:00:44.940> a<00:00:45.059> technical<00:00:45.360> level 00:00:45.530 --> 00:00:45.540 align:start position:0% what does it mean from a technical level 00:00:45.540 --> 00:00:47.150 align:start position:0% what does it mean from a technical level what<00:00:45.899> does<00:00:46.020> it<00:00:46.140> mean<00:00:46.200> on<00:00:46.500> a<00:00:46.620> cultural<00:00:46.980> level 00:00:47.150 --> 00:00:47.160 align:start position:0% what does it mean on a cultural level 00:00:47.160 --> 00:00:49.130 align:start position:0% what does it mean on a cultural level and<00:00:47.640> how<00:00:47.760> do<00:00:47.879> we<00:00:48.000> get<00:00:48.120> there<00:00:48.300> so<00:00:48.840> let's<00:00:48.960> start 00:00:49.130 --> 00:00:49.140 align:start position:0% and how do we get there so let's start 00:00:49.140 --> 00:00:50.869 align:start position:0% and how do we get there so let's start with<00:00:49.260> where<00:00:49.500> we<00:00:49.620> are<00:00:49.800> today 00:00:50.869 --> 00:00:50.879 align:start position:0% with where we are today 00:00:50.879 --> 00:00:52.490 align:start position:0% with where we are today um<00:00:50.940> I<00:00:51.059> had<00:00:51.180> to<00:00:51.300> pull<00:00:51.420> this<00:00:51.600> out<00:00:51.780> from<00:00:52.079> back<00:00:52.320> when 00:00:52.490 --> 00:00:52.500 align:start position:0% um I had to pull this out from back when 00:00:52.500 --> 00:00:54.110 align:start position:0% um I had to pull this out from back when I<00:00:52.620> worked<00:00:52.860> in<00:00:52.920> product<00:00:53.100> at<00:00:53.340> Sony<00:00:53.579> we<00:00:53.820> had<00:00:53.940> this 00:00:54.110 --> 00:00:54.120 align:start position:0% I worked in product at Sony we had this 00:00:54.120 --> 00:00:55.549 align:start position:0% I worked in product at Sony we had this grid<00:00:54.360> that<00:00:54.539> helped<00:00:54.719> us<00:00:54.780> understand<00:00:54.960> a<00:00:55.440> product 00:00:55.549 --> 00:00:55.559 align:start position:0% grid that helped us understand a product 00:00:55.559 --> 00:00:57.350 align:start position:0% grid that helped us understand a product that<00:00:55.800> we<00:00:55.920> were<00:00:56.039> building<00:00:56.219> you<00:00:56.940> can<00:00:57.000> build<00:00:57.180> a 00:00:57.350 --> 00:00:57.360 align:start position:0% that we were building you can build a 00:00:57.360 --> 00:00:59.090 align:start position:0% that we were building you can build a product<00:00:57.539> that<00:00:57.840> solves<00:00:58.140> a<00:00:58.320> big<00:00:58.440> problem<00:00:58.680> for<00:00:59.039> a 00:00:59.090 --> 00:00:59.100 align:start position:0% product that solves a big problem for a 00:00:59.100 --> 00:01:00.950 align:start position:0% product that solves a big problem for a lot<00:00:59.219> of<00:00:59.340> people<00:00:59.460> a<00:01:00.120> big<00:01:00.239> problem<00:01:00.420> for<00:01:00.719> a<00:01:00.840> small 00:01:00.950 --> 00:01:00.960 align:start position:0% lot of people a big problem for a small 00:01:00.960 --> 00:01:03.349 align:start position:0% lot of people a big problem for a small amount<00:01:01.199> of<00:01:01.320> people<00:01:01.440> a<00:01:01.680> small<00:01:01.920> problem<00:01:02.640> Etc<00:01:02.820> and 00:01:03.349 --> 00:01:03.359 align:start position:0% amount of people a small problem Etc and 00:01:03.359 --> 00:01:04.549 align:start position:0% amount of people a small problem Etc and where<00:01:03.480> we<00:01:03.600> are<00:01:03.719> right<00:01:03.899> now<00:01:04.019> is<00:01:04.140> we're<00:01:04.320> in<00:01:04.500> this 00:01:04.549 --> 00:01:04.559 align:start position:0% where we are right now is we're in this 00:01:04.559 --> 00:01:05.810 align:start position:0% where we are right now is we're in this quadrant<00:01:04.920> where<00:01:05.040> we're<00:01:05.159> solving<00:01:05.519> a<00:01:05.640> small 00:01:05.810 --> 00:01:05.820 align:start position:0% quadrant where we're solving a small 00:01:05.820 --> 00:01:07.850 align:start position:0% quadrant where we're solving a small problem<00:01:06.119> for<00:01:06.720> a<00:01:06.900> very<00:01:07.020> small<00:01:07.200> group<00:01:07.500> of<00:01:07.680> people 00:01:07.850 --> 00:01:07.860 align:start position:0% problem for a very small group of people 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useful out of it is actually<00:01:12.780> quite<00:01:13.020> small<00:01:13.320> and<00:01:14.220> and<00:01:14.400> this<00:01:14.640> is 00:01:14.690 --> 00:01:14.700 align:start position:0% actually quite small and and this is 00:01:14.700 --> 00:01:16.130 align:start position:0% actually quite small and and this is what<00:01:14.880> we<00:01:15.000> end<00:01:15.119> up<00:01:15.240> with<00:01:15.420> when<00:01:15.600> we<00:01:15.780> are<00:01:15.900> in<00:01:16.020> this 00:01:16.130 --> 00:01:16.140 align:start position:0% what we end up with when we are in this 00:01:16.140 --> 00:01:18.170 align:start position:0% what we end up with when we are in this situation<00:01:16.500> right<00:01:16.740> it's<00:01:17.340> why<00:01:17.520> we've<00:01:17.880> kind<00:01:18.060> of 00:01:18.170 --> 00:01:18.180 align:start position:0% situation right it's why we've kind of 00:01:18.180 --> 00:01:20.990 align:start position:0% situation right it's why we've kind of devolved<00:01:18.900> to<00:01:19.140> crypto<00:01:19.860> dick<00:01:20.100> buds<00:01:20.580> in<00:01:20.820> a 00:01:20.990 --> 00:01:21.000 align:start position:0% devolved to crypto dick buds in a 00:01:21.000 --> 00:01:22.730 align:start position:0% devolved to crypto dick buds in a thousand<00:01:21.299> percent<00:01:21.479> apy<00:01:22.080> it's<00:01:22.320> because<00:01:22.500> like 00:01:22.730 --> 00:01:22.740 align:start position:0% thousand percent apy it's because like 00:01:22.740 --> 00:01:24.289 align:start position:0% thousand percent apy it's because like we're<00:01:23.100> trying<00:01:23.280> really<00:01:23.520> hard<00:01:23.700> to<00:01:23.939> find<00:01:24.060> a<00:01:24.180> use 00:01:24.289 --> 00:01:24.299 align:start position:0% we're trying really hard to find a use 00:01:24.299 --> 00:01:25.670 align:start position:0% we're trying really hard to find a use case<00:01:24.479> for<00:01:24.600> it<00:01:24.780> and<00:01:24.840> we<00:01:25.020> just<00:01:25.140> can't<00:01:25.259> seem<00:01:25.560> to 00:01:25.670 --> 00:01:25.680 align:start position:0% case for it and we just can't seem to 00:01:25.680 --> 00:01:27.890 align:start position:0% case for it and we just can't seem to find<00:01:25.860> something<00:01:26.159> that<00:01:26.400> we<00:01:26.580> can<00:01:26.700> solve<00:01:27.060> and 00:01:27.890 --> 00:01:27.900 align:start position:0% find something that we can solve and 00:01:27.900 --> 00:01:29.210 align:start position:0% find something that we can solve and this<00:01:28.080> doesn't<00:01:28.320> go<00:01:28.500> without<00:01:28.680> saying<00:01:29.100> like 00:01:29.210 --> 00:01:29.220 align:start position:0% this doesn't go without saying like 00:01:29.220 --> 00:01:31.249 align:start position:0% this doesn't go without saying like obviously<00:01:29.820> I<00:01:30.060> deeply<00:01:30.360> respect<00:01:30.780> everyone 00:01:31.249 --> 00:01:31.259 align:start position:0% obviously I deeply respect everyone 00:01:31.259 --> 00:01:33.230 align:start position:0% obviously I deeply respect everyone working<00:01:31.619> in<00:01:31.920> the<00:01:32.040> space<00:01:32.220> I<00:01:32.820> know<00:01:33.060> we're<00:01:33.180> all 00:01:33.230 --> 00:01:33.240 align:start position:0% working in the space I know we're all 00:01:33.240 --> 00:01:34.850 align:start position:0% working in the space I know we're all worth<00:01:33.360> working<00:01:33.720> towards<00:01:34.140> getting<00:01:34.560> to<00:01:34.740> this 00:01:34.850 --> 00:01:34.860 align:start position:0% worth working towards getting to this 00:01:34.860 --> 00:01:36.109 align:start position:0% worth working towards getting to this point<00:01:35.040> but<00:01:35.220> this<00:01:35.340> is<00:01:35.460> just<00:01:35.579> the<00:01:35.700> reality<00:01:36.000> of 00:01:36.109 --> 00:01:36.119 align:start position:0% point but this is just the reality of 00:01:36.119 --> 00:01:38.210 align:start position:0% point but this is just the reality of where<00:01:36.299> we<00:01:36.420> are<00:01:36.900> now<00:01:37.380> how<00:01:37.560> do<00:01:37.680> we<00:01:37.799> get<00:01:37.920> to<00:01:38.100> this 00:01:38.210 --> 00:01:38.220 align:start position:0% where we are now how do we get to this 00:01:38.220 --> 00:01:39.469 align:start position:0% where we are now how do we get to this quadrant<00:01:38.579> where<00:01:38.759> we're<00:01:38.880> solving<00:01:39.180> a<00:01:39.420> big 00:01:39.469 --> 00:01:39.479 align:start position:0% quadrant where we're solving a big 00:01:39.479 --> 00:01:41.749 align:start position:0% quadrant where we're solving a big problem<00:01:39.780> for<00:01:40.079> a<00:01:40.200> lot<00:01:40.320> of<00:01:40.439> people<00:01:40.560> my<00:01:41.460> answer<00:01:41.520> is 00:01:41.749 --> 00:01:41.759 align:start position:0% problem for a lot of people my answer is 00:01:41.759 --> 00:01:42.950 align:start position:0% problem for a lot of people my answer is super<00:01:41.880> simple<00:01:42.060> and<00:01:42.299> I<00:01:42.420> actually<00:01:42.479> wrote<00:01:42.600> a<00:01:42.780> blog 00:01:42.950 --> 00:01:42.960 align:start position:0% super simple and I actually wrote a blog 00:01:42.960 --> 00:01:44.149 align:start position:0% super simple and I actually wrote a blog post<00:01:43.020> about<00:01:43.259> this<00:01:43.439> that<00:01:43.619> I'll<00:01:43.740> link<00:01:43.860> at<00:01:44.040> the 00:01:44.149 --> 00:01:44.159 align:start position:0% post about this that I'll link at the 00:01:44.159 --> 00:01:46.130 align:start position:0% post about this that I'll link at the end<00:01:44.280> where<00:01:44.460> you<00:01:44.640> can<00:01:44.759> see<00:01:45.000> all<00:01:45.360> of<00:01:45.540> the<00:01:45.780> sources 00:01:46.130 --> 00:01:46.140 align:start position:0% end where you can see all of the sources 00:01:46.140 --> 00:01:48.109 align:start position:0% end where you can see all of the sources cited<00:01:46.500> but<00:01:46.680> solve<00:01:47.280> real<00:01:47.340> problems<00:01:47.700> and<00:01:47.880> that 00:01:48.109 --> 00:01:48.119 align:start position:0% cited but solve real problems and that 00:01:48.119 --> 00:01:49.789 align:start position:0% cited but solve real problems and that sounds<00:01:48.240> very<00:01:48.540> like<00:01:48.840> straightforward<00:01:49.320> and<00:01:49.500> duh 00:01:49.789 --> 00:01:49.799 align:start position:0% sounds very like straightforward and duh 00:01:49.799 --> 00:01:51.109 align:start position:0% sounds very like straightforward and duh but<00:01:49.920> how<00:01:50.040> do<00:01:50.159> we<00:01:50.280> actually<00:01:50.399> get<00:01:50.640> there<00:01:50.820> like 00:01:51.109 --> 00:01:51.119 align:start position:0% but how do we actually get there like 00:01:51.119 --> 00:01:52.969 align:start position:0% but how do we actually get there like how<00:01:51.540> do<00:01:51.659> we<00:01:51.780> find<00:01:51.960> communities<00:01:52.500> that<00:01:52.799> have 00:01:52.969 --> 00:01:52.979 align:start position:0% how do we find communities that have 00:01:52.979 --> 00:01:54.889 align:start position:0% how do we find communities that have problems<00:01:53.340> that<00:01:53.520> we<00:01:53.700> can<00:01:53.820> solve<00:01:54.180> and<00:01:54.600> we<00:01:54.780> can 00:01:54.889 --> 00:01:54.899 align:start position:0% problems that we can solve and we can 00:01:54.899 --> 00:01:56.450 align:start position:0% problems that we can solve and we can take<00:01:55.020> crypto<00:01:55.380> for<00:01:55.619> what<00:01:55.740> it<00:01:55.860> is<00:01:55.979> at<00:01:56.220> the<00:01:56.340> very 00:01:56.450 --> 00:01:56.460 align:start position:0% take crypto for what it is at the very 00:01:56.460 --> 00:01:58.310 align:start position:0% take crypto for what it is at the very base<00:01:56.640> level<00:01:56.880> which<00:01:57.240> is<00:01:57.360> new<00:01:57.780> infrastructure 00:01:58.310 --> 00:01:58.320 align:start position:0% base level which is new infrastructure 00:01:58.320 --> 00:02:00.050 align:start position:0% base level which is new infrastructure for<00:01:58.500> a<00:01:58.680> payment<00:01:58.799> system<00:01:59.100> and<00:01:59.700> enable 00:02:00.050 --> 00:02:00.060 align:start position:0% for a payment system and enable 00:02:00.060 --> 00:02:02.030 align:start position:0% for a payment system and enable Innovative<00:02:00.840> use<00:02:01.079> case<00:02:01.320> that<00:02:01.619> will<00:02:01.860> actually 00:02:02.030 --> 00:02:02.040 align:start position:0% Innovative use case that will actually 00:02:02.040 --> 00:02:03.830 align:start position:0% Innovative use case that will actually drive<00:02:02.280> adoption<00:02:02.759> and<00:02:03.240> the<00:02:03.360> place<00:02:03.479> that<00:02:03.659> I'm 00:02:03.830 --> 00:02:03.840 align:start position:0% drive adoption and the place that I'm 00:02:03.840 --> 00:02:05.510 align:start position:0% drive adoption and the place that I'm going<00:02:03.960> with<00:02:04.140> this<00:02:04.320> is<00:02:04.680> we<00:02:04.979> have<00:02:05.100> to<00:02:05.219> go<00:02:05.340> where 00:02:05.510 --> 00:02:05.520 align:start position:0% going with this is we have to go where 00:02:05.520 --> 00:02:07.670 align:start position:0% going with this is we have to go where there's<00:02:05.640> necessity<00:02:06.180> in<00:02:06.659> the<00:02:06.840> global<00:02:07.140> West<00:02:07.320> in 00:02:07.670 --> 00:02:07.680 align:start position:0% there's necessity in the global West in 00:02:07.680 --> 00:02:09.350 align:start position:0% there's necessity in the global West in Europe<00:02:07.860> and<00:02:08.160> North<00:02:08.399> America<00:02:08.580> we<00:02:09.060> don't<00:02:09.179> have 00:02:09.350 --> 00:02:09.360 align:start position:0% Europe and North America we don't have 00:02:09.360 --> 00:02:11.270 align:start position:0% Europe and North America we don't have much<00:02:09.539> of<00:02:09.660> a<00:02:09.780> necessity<00:02:10.200> we're<00:02:10.500> relatively 00:02:11.270 --> 00:02:11.280 align:start position:0% much of a necessity we're relatively 00:02:11.280 --> 00:02:13.190 align:start position:0% much of a necessity we're relatively doing<00:02:12.060> pretty<00:02:12.300> well<00:02:12.480> right<00:02:12.720> we<00:02:12.900> all<00:02:13.020> have 00:02:13.190 --> 00:02:13.200 align:start position:0% doing pretty well right we all have 00:02:13.200 --> 00:02:15.170 align:start position:0% doing pretty well right we all have access<00:02:13.379> to<00:02:13.620> Banks<00:02:14.040> we<00:02:14.220> all<00:02:14.340> can<00:02:14.520> get<00:02:14.760> you<00:02:15.060> know 00:02:15.170 --> 00:02:15.180 align:start position:0% access to Banks we all can get you know 00:02:15.180 --> 00:02:16.910 align:start position:0% access to Banks we all can get you know access<00:02:15.780> to<00:02:16.140> all<00:02:16.379> the<00:02:16.500> different<00:02:16.680> financial 00:02:16.910 --> 00:02:16.920 align:start position:0% access to all the different financial 00:02:16.920 --> 00:02:18.830 align:start position:0% access to all the different financial services<00:02:17.220> that<00:02:17.640> we<00:02:17.819> want<00:02:18.000> and<00:02:18.300> even<00:02:18.420> for<00:02:18.599> those 00:02:18.830 --> 00:02:18.840 align:start position:0% services that we want and even for those 00:02:18.840 --> 00:02:20.690 align:start position:0% services that we want and even for those who<00:02:19.260> might<00:02:19.379> not<00:02:19.560> necessarily<00:02:19.980> have<00:02:20.160> access<00:02:20.340> we 00:02:20.690 --> 00:02:20.700 align:start position:0% who might not necessarily have access we 00:02:20.700 --> 00:02:22.910 align:start position:0% who might not necessarily have access we have<00:02:20.940> a<00:02:21.360> wide<00:02:21.780> breadth<00:02:22.140> of<00:02:22.260> different<00:02:22.500> Neo 00:02:22.910 --> 00:02:22.920 align:start position:0% have a wide breadth of different Neo 00:02:22.920 --> 00:02:24.410 align:start position:0% have a wide breadth of different Neo bank<00:02:23.040> and<00:02:23.280> non-bank<00:02:23.580> applications<00:02:24.000> that<00:02:24.239> let 00:02:24.410 --> 00:02:24.420 align:start position:0% bank and non-bank applications that let 00:02:24.420 --> 00:02:25.550 align:start position:0% bank and non-bank applications that let people<00:02:24.599> still<00:02:24.840> access<00:02:25.080> these<00:02:25.500> Financial 00:02:25.550 --> 00:02:25.560 align:start position:0% people still access these Financial 00:02:25.560 --> 00:02:28.550 align:start position:0% people still access these Financial Services<00:02:26.180> now<00:02:27.180> besides<00:02:27.900> going<00:02:28.200> to<00:02:28.379> where 00:02:28.550 --> 00:02:28.560 align:start position:0% Services now besides going to where 00:02:28.560 --> 00:02:29.930 align:start position:0% Services now besides going to where there's<00:02:28.739> a<00:02:28.980> problem<00:02:29.160> we<00:02:29.520> also<00:02:29.700> need<00:02:29.819> to 00:02:29.930 --> 00:02:29.940 align:start position:0% there's a problem we also need to 00:02:29.940 --> 00:02:31.250 align:start position:0% there's a problem we also need to address<00:02:30.060> on<00:02:30.360> the<00:02:30.480> technical<00:02:30.720> level<00:02:30.900> what 00:02:31.250 --> 00:02:31.260 align:start position:0% address on the technical level what 00:02:31.260 --> 00:02:32.570 align:start position:0% address on the technical level what needs<00:02:31.500> to<00:02:31.500> be<00:02:31.620> solved<00:02:31.800> which<00:02:31.980> is<00:02:32.099> scalability 00:02:32.570 --> 00:02:32.580 align:start position:0% needs to be solved which is scalability 00:02:32.580 --> 00:02:35.570 align:start position:0% needs to be solved which is scalability and<00:02:33.239> more<00:02:33.420> secure<00:02:33.720> applications<00:02:34.220> in<00:02:35.220> the<00:02:35.400> last 00:02:35.570 --> 00:02:35.580 align:start position:0% and more secure applications in the last 00:02:35.580 --> 00:02:37.790 align:start position:0% and more secure applications in the last what<00:02:36.120> six<00:02:36.360> months<00:02:36.599> year<00:02:36.840> there's<00:02:37.379> been<00:02:37.620> like 00:02:37.790 --> 00:02:37.800 align:start position:0% what six months year there's been like 00:02:37.800 --> 00:02:40.190 align:start position:0% what six months year there's been like billions<00:02:38.160> of<00:02:38.280> dollars<00:02:38.580> worth<00:02:38.700> of<00:02:38.940> hacks<00:02:39.360> and 00:02:40.190 --> 00:02:40.200 align:start position:0% billions of dollars worth of hacks and 00:02:40.200 --> 00:02:41.930 align:start position:0% billions of dollars worth of hacks and the<00:02:40.620> truth<00:02:40.800> is<00:02:40.980> that<00:02:41.160> when<00:02:41.459> you're<00:02:41.580> dealing 00:02:41.930 --> 00:02:41.940 align:start position:0% the truth is that when you're dealing 00:02:41.940 --> 00:02:43.130 align:start position:0% the truth is that when you're dealing with 00:02:43.130 --> 00:02:43.140 align:start position:0% with 00:02:43.140 --> 00:02:45.110 align:start position:0% with a<00:02:43.800> community<00:02:43.920> like<00:02:44.160> Latin<00:02:44.519> America<00:02:44.640> which<00:02:45.000> I'm 00:02:45.110 --> 00:02:45.120 align:start position:0% a community like Latin America which I'm 00:02:45.120 --> 00:02:46.490 align:start position:0% a community like Latin America which I'm going<00:02:45.239> to<00:02:45.300> make<00:02:45.420> the<00:02:45.540> case<00:02:45.660> for<00:02:45.840> for<00:02:46.080> why<00:02:46.319> we 00:02:46.490 --> 00:02:46.500 align:start position:0% going to make the case for for why we 00:02:46.500 --> 00:02:47.930 align:start position:0% going to make the case for for why we should<00:02:46.620> turn<00:02:46.800> our<00:02:46.980> attention<00:02:47.280> and<00:02:47.459> capital<00:02:47.640> to 00:02:47.930 --> 00:02:47.940 align:start position:0% should turn our attention and capital to 00:02:47.940 --> 00:02:49.790 align:start position:0% should turn our attention and capital to Latin<00:02:48.239> America<00:02:48.360> specifically<00:02:49.080> you're 00:02:49.790 --> 00:02:49.800 align:start position:0% Latin America specifically you're 00:02:49.800 --> 00:02:51.110 align:start position:0% Latin America specifically you're dealing<00:02:50.099> with<00:02:50.220> a<00:02:50.340> community<00:02:50.519> that's<00:02:50.819> a<00:02:51.060> lot 00:02:51.110 --> 00:02:51.120 align:start position:0% dealing with a community that's a lot 00:02:51.120 --> 00:02:52.610 align:start position:0% dealing with a community that's a lot more<00:02:51.300> price<00:02:51.480> sensitive<00:02:51.900> than<00:02:52.080> the<00:02:52.260> West<00:02:52.379> right 00:02:52.610 --> 00:02:52.620 align:start position:0% more price sensitive than the West right 00:02:52.620 --> 00:02:54.410 align:start position:0% more price sensitive than the West right they<00:02:52.920> have<00:02:53.099> an<00:02:53.400> average<00:02:53.580> monthly<00:02:54.000> income<00:02:54.239> of 00:02:54.410 --> 00:02:54.420 align:start position:0% they have an average monthly income of 00:02:54.420 --> 00:02:56.570 align:start position:0% they have an average monthly income of 500<00:02:54.720> a<00:02:55.080> month<00:02:55.200> you<00:02:55.680> can't<00:02:55.800> afford<00:02:56.099> to<00:02:56.280> lose 00:02:56.570 --> 00:02:56.580 align:start position:0% 500 a month you can't afford to lose 00:02:56.580 --> 00:02:58.369 align:start position:0% 500 a month you can't afford to lose even<00:02:57.180> a<00:02:57.360> hundred<00:02:57.599> dollars<00:02:57.840> in<00:02:57.959> a<00:02:58.080> hack<00:02:58.200> you 00:02:58.369 --> 00:02:58.379 align:start position:0% even a hundred dollars in a hack you 00:02:58.379 --> 00:03:00.530 align:start position:0% even a hundred dollars in a hack you can't<00:02:58.500> even<00:02:58.680> afford<00:02:59.040> at<00:02:59.400> this<00:02:59.519> point<00:02:59.700> to<00:03:00.300> spend 00:03:00.530 --> 00:03:00.540 align:start position:0% can't even afford at this point to spend 00:03:00.540 --> 00:03:01.970 align:start position:0% can't even afford at this point to spend ten<00:03:00.780> dollars<00:03:01.019> on<00:03:01.140> a<00:03:01.260> gas<00:03:01.379> transaction<00:03:01.739> it's 00:03:01.970 --> 00:03:01.980 align:start position:0% ten dollars on a gas transaction it's 00:03:01.980 --> 00:03:03.290 align:start position:0% ten dollars on a gas transaction it's just<00:03:02.160> not<00:03:02.280> realistic<00:03:02.760> that's<00:03:02.940> like<00:03:03.180> two 00:03:03.290 --> 00:03:03.300 align:start position:0% just not realistic that's like two 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the<00:03:09.180> best 00:03:09.350 --> 00:03:09.360 align:start position:0% America actually I think are the best 00:03:09.360 --> 00:03:10.430 align:start position:0% America actually I think are the best place<00:03:09.540> to<00:03:09.720> start<00:03:09.900> because<00:03:10.080> they<00:03:10.319> already 00:03:10.430 --> 00:03:10.440 align:start position:0% place to start because they already 00:03:10.440 --> 00:03:12.530 align:start position:0% place to start because they already exhibit<00:03:10.860> behaviors<00:03:11.280> that<00:03:11.580> make<00:03:11.700> them<00:03:11.940> really 00:03:12.530 --> 00:03:12.540 align:start position:0% exhibit behaviors that make them really 00:03:12.540 --> 00:03:14.570 align:start position:0% exhibit behaviors that make them really ripe<00:03:13.019> for<00:03:13.140> adoption<00:03:13.620> of<00:03:13.800> crypto<00:03:14.159> and<00:03:14.459> those 00:03:14.570 --> 00:03:14.580 align:start position:0% ripe for adoption of crypto and those 00:03:14.580 --> 00:03:16.490 align:start position:0% ripe for adoption of crypto and those are<00:03:14.819> mobile<00:03:15.120> first<00:03:15.420> digital<00:03:15.780> payments<00:03:16.200> if<00:03:16.379> you 00:03:16.490 --> 00:03:16.500 align:start position:0% are mobile first digital payments if you 00:03:16.500 --> 00:03:17.750 align:start position:0% are mobile first digital payments if you guys<00:03:16.620> live<00:03:16.800> in<00:03:16.920> Latin<00:03:17.220> America<00:03:17.280> if<00:03:17.519> you<00:03:17.640> live 00:03:17.750 --> 00:03:17.760 align:start position:0% guys live in Latin America if you live 00:03:17.760 --> 00:03:19.490 align:start position:0% guys live in Latin America if you live in<00:03:17.819> Colombia<00:03:18.239> you<00:03:18.720> know<00:03:18.780> that<00:03:19.019> a<00:03:19.200> lot<00:03:19.319> of 00:03:19.490 --> 00:03:19.500 align:start position:0% in Colombia you know that a lot of 00:03:19.500 --> 00:03:21.290 align:start position:0% in Colombia you know that a lot of financial<00:03:20.099> services<00:03:20.459> are<00:03:20.819> mobile<00:03:21.060> first 00:03:21.290 --> 00:03:21.300 align:start position:0% financial services are mobile first 00:03:21.300 --> 00:03:23.570 align:start position:0% financial services are mobile first everyone<00:03:21.720> pays<00:03:22.140> from<00:03:22.319> their<00:03:22.500> phone<00:03:22.680> adoption 00:03:23.570 --> 00:03:23.580 align:start position:0% everyone pays from their phone adoption 00:03:23.580 --> 00:03:25.369 align:start position:0% everyone pays from their phone adoption of<00:03:23.760> Neo<00:03:24.060> Bank<00:03:24.300> we'll<00:03:24.659> talk<00:03:24.840> about<00:03:24.959> more<00:03:25.140> what 00:03:25.369 --> 00:03:25.379 align:start position:0% of Neo Bank we'll talk about more what 00:03:25.379 --> 00:03:26.630 align:start position:0% of Neo Bank we'll talk about more what this<00:03:25.500> means<00:03:25.739> but<00:03:25.860> basically<00:03:26.099> a<00:03:26.280> lot<00:03:26.400> of<00:03:26.519> people 00:03:26.630 --> 00:03:26.640 align:start position:0% this means but basically a lot of people 00:03:26.640 --> 00:03:28.970 align:start position:0% this means but basically a lot of people are<00:03:26.879> already<00:03:27.120> operating<00:03:27.659> outside<00:03:28.140> of<00:03:28.620> the 00:03:28.970 --> 00:03:28.980 align:start position:0% are already operating outside of the 00:03:28.980 --> 00:03:30.710 align:start position:0% are already operating outside of the traditional<00:03:29.519> Banking<00:03:30.000> and<00:03:30.180> finance<00:03:30.540> system 00:03:30.710 --> 00:03:30.720 align:start position:0% traditional Banking and finance system 00:03:30.720 --> 00:03:32.930 align:start position:0% traditional Banking and finance system they're<00:03:31.019> using<00:03:31.319> Neo<00:03:31.620> Bank<00:03:31.860> applications<00:03:32.340> AKA 00:03:32.930 --> 00:03:32.940 align:start position:0% they're using Neo Bank applications AKA 00:03:32.940 --> 00:03:34.250 align:start position:0% they're using Neo Bank applications AKA financial<00:03:33.239> services<00:03:33.599> that<00:03:34.019> are<00:03:34.140> not 00:03:34.250 --> 00:03:34.260 align:start position:0% financial services that are not 00:03:34.260 --> 00:03:36.649 align:start position:0% financial services that are not necessarily<00:03:34.800> from<00:03:35.040> a<00:03:35.459> proper<00:03:35.819> bank<00:03:35.940> there's 00:03:36.649 --> 00:03:36.659 align:start position:0% necessarily from a proper bank there's 00:03:36.659 --> 00:03:38.630 align:start position:0% necessarily from a proper bank there's heavy<00:03:37.019> Reliance<00:03:37.500> on<00:03:37.739> remittance<00:03:38.280> payments 00:03:38.630 --> 00:03:38.640 align:start position:0% heavy Reliance on remittance payments 00:03:38.640 --> 00:03:40.250 align:start position:0% heavy Reliance on remittance payments which<00:03:38.760> is<00:03:38.879> basically<00:03:39.120> cross-border<00:03:39.840> payments 00:03:40.250 --> 00:03:40.260 align:start position:0% which is basically cross-border payments 00:03:40.260 --> 00:03:41.990 align:start position:0% which is basically cross-border payments if<00:03:40.620> you<00:03:40.799> guys<00:03:40.920> are<00:03:41.099> from<00:03:41.340> Latin<00:03:41.640> America<00:03:41.700> and 00:03:41.990 --> 00:03:42.000 align:start position:0% if you guys are from Latin America and 00:03:42.000 --> 00:03:43.190 align:start position:0% if you guys are from Latin America and you<00:03:42.180> live<00:03:42.299> in<00:03:42.420> the<00:03:42.540> United<00:03:42.599> States<00:03:42.840> or<00:03:43.019> Europe 00:03:43.190 --> 00:03:43.200 align:start position:0% you live in the United States or Europe 00:03:43.200 --> 00:03:44.990 align:start position:0% you live in the United States or Europe you<00:03:43.440> know<00:03:43.560> it's<00:03:43.680> not<00:03:43.860> uncommon<00:03:44.340> for<00:03:44.760> you<00:03:44.879> to 00:03:44.990 --> 00:03:45.000 align:start position:0% you know it's not uncommon for you to 00:03:45.000 --> 00:03:46.789 align:start position:0% you know it's not uncommon for you to send<00:03:45.239> money<00:03:45.659> back<00:03:45.900> home<00:03:46.080> and<00:03:46.260> it's<00:03:46.379> done<00:03:46.560> via 00:03:46.789 --> 00:03:46.799 align:start position:0% send money back home and it's done via 00:03:46.799 --> 00:03:48.530 align:start position:0% send money back home and it's done via remittance 00:03:48.530 --> 00:03:48.540 align:start position:0% remittance 00:03:48.540 --> 00:03:50.089 align:start position:0% remittance um growing<00:03:48.959> political<00:03:49.319> and<00:03:49.440> socioeconomic 00:03:50.089 --> 00:03:50.099 align:start position:0% um growing political and socioeconomic 00:03:50.099 --> 00:03:51.949 align:start position:0% um growing political and socioeconomic instability<00:03:50.580> and<00:03:51.060> social<00:03:51.299> pressure<00:03:51.540> so<00:03:51.840> we're 00:03:51.949 --> 00:03:51.959 align:start position:0% instability and social pressure so we're 00:03:51.959 --> 00:03:53.089 align:start position:0% instability and social pressure so we're going<00:03:52.080> to<00:03:52.140> talk<00:03:52.260> about<00:03:52.379> all<00:03:52.560> of<00:03:52.680> these<00:03:52.860> in<00:03:52.980> the 00:03:53.089 --> 00:03:53.099 align:start position:0% going to talk about all of these in the 00:03:53.099 --> 00:03:54.890 align:start position:0% going to talk about all of these in the next<00:03:53.159> seven<00:03:53.340> minutes<00:03:53.580> so<00:03:54.239> I'm<00:03:54.540> not<00:03:54.720> going<00:03:54.840> to 00:03:54.890 --> 00:03:54.900 align:start position:0% next seven minutes so I'm not going to 00:03:54.900 --> 00:03:56.030 align:start position:0% next seven minutes so I'm not going to read<00:03:54.959> all<00:03:55.140> these<00:03:55.319> but<00:03:55.440> just<00:03:55.620> so<00:03:55.680> you<00:03:55.860> guys<00:03:55.920> can 00:03:56.030 --> 00:03:56.040 align:start position:0% read all these but just so you guys can 00:03:56.040 --> 00:03:57.350 align:start position:0% read all these but just so you guys can kind<00:03:56.220> of<00:03:56.280> maybe<00:03:56.400> take<00:03:56.640> a<00:03:56.760> picture<00:03:56.879> take<00:03:57.180> a 00:03:57.350 --> 00:03:57.360 align:start position:0% kind of maybe take a picture take a 00:03:57.360 --> 00:03:59.030 align:start position:0% kind of maybe take a picture take a mental<00:03:57.659> screenshot<00:03:58.080> this<00:03:58.620> is<00:03:58.680> what<00:03:58.860> the 00:03:59.030 --> 00:03:59.040 align:start position:0% mental screenshot this is what the 00:03:59.040 --> 00:04:00.530 align:start position:0% mental screenshot this is what the numbers<00:03:59.159> looks<00:03:59.519> like<00:03:59.640> for<00:03:59.819> adoption<00:04:00.299> of 00:04:00.530 --> 00:04:00.540 align:start position:0% numbers looks like for adoption of 00:04:00.540 --> 00:04:02.509 align:start position:0% numbers looks like for adoption of online<00:04:00.900> Neo<00:04:01.379> bank<00:04:01.500> and<00:04:01.680> non-bank<00:04:02.159> so 00:04:02.509 --> 00:04:02.519 align:start position:0% online Neo bank and non-bank so 00:04:02.519 --> 00:04:04.490 align:start position:0% online Neo bank and non-bank so basically<00:04:02.819> a<00:04:03.120> vast<00:04:03.299> majority<00:04:03.659> of<00:04:03.780> people<00:04:04.080> in 00:04:04.490 --> 00:04:04.500 align:start position:0% basically a vast majority of people in 00:04:04.500 --> 00:04:06.530 align:start position:0% basically a vast majority of people in this<00:04:04.680> survey<00:04:05.040> that<00:04:05.340> was<00:04:05.580> created<00:04:06.120> by<00:04:06.299> rapid 00:04:06.530 --> 00:04:06.540 align:start position:0% this survey that was created by rapid 00:04:06.540 --> 00:04:08.089 align:start position:0% this survey that was created by rapid which<00:04:06.900> is<00:04:07.019> all<00:04:07.080> linked<00:04:07.319> at<00:04:07.440> the<00:04:07.560> end<00:04:07.620> sources 00:04:08.089 --> 00:04:08.099 align:start position:0% which is all linked at the end sources 00:04:08.099 --> 00:04:09.710 align:start position:0% which is all linked at the end sources cited<00:04:08.519> a<00:04:09.120> lot<00:04:09.239> of<00:04:09.299> people<00:04:09.420> are<00:04:09.540> already 00:04:09.710 --> 00:04:09.720 align:start position:0% cited a lot of people are already 00:04:09.720 --> 00:04:12.229 align:start position:0% cited a lot of people are already operating<00:04:10.140> outside<00:04:10.379> of<00:04:10.620> the<00:04:10.739> bounce<00:04:10.980> 90<00:04:11.939> plus 00:04:12.229 --> 00:04:12.239 align:start position:0% operating outside of the bounce 90 plus 00:04:12.239 --> 00:04:14.869 align:start position:0% operating outside of the bounce 90 plus percent<00:04:12.480> of<00:04:12.959> Mexicans<00:04:13.560> Brazilians<00:04:14.099> 87<00:04:14.459> of 00:04:14.869 --> 00:04:14.879 align:start position:0% percent of Mexicans Brazilians 87 of 00:04:14.879 --> 00:04:17.330 align:start position:0% percent of Mexicans Brazilians 87 of Colombians<00:04:15.299> 84<00:04:15.659> of<00:04:16.079> argentinians<00:04:16.739> regularly 00:04:17.330 --> 00:04:17.340 align:start position:0% Colombians 84 of argentinians regularly 00:04:17.340 --> 00:04:19.189 align:start position:0% Colombians 84 of argentinians regularly use<00:04:17.519> applications<00:04:17.940> such<00:04:18.180> as<00:04:18.299> PayPal<00:04:18.720> model 00:04:19.189 --> 00:04:19.199 align:start position:0% use applications such as PayPal model 00:04:19.199 --> 00:04:21.050 align:start position:0% use applications such as PayPal model and<00:04:19.440> mercado 00:04:21.050 --> 00:04:21.060 align:start position:0% and mercado 00:04:21.060 --> 00:04:23.270 align:start position:0% and mercado heavy<00:04:21.660> Reliance<00:04:22.019> on<00:04:22.139> remittance<00:04:22.620> so<00:04:23.100> again 00:04:23.270 --> 00:04:23.280 align:start position:0% heavy Reliance on remittance so again 00:04:23.280 --> 00:04:24.770 align:start position:0% heavy Reliance on remittance so again this<00:04:23.520> is<00:04:23.639> back<00:04:23.759> to<00:04:23.940> the<00:04:24.000> cross-border<00:04:24.600> thing 00:04:24.770 --> 00:04:24.780 align:start position:0% this is back to the cross-border thing 00:04:24.780 --> 00:04:26.510 align:start position:0% this is back to the cross-border thing and<00:04:25.380> according<00:04:25.800> to<00:04:25.860> data<00:04:26.220> from<00:04:26.280> the<00:04:26.460> World 00:04:26.510 --> 00:04:26.520 align:start position:0% and according to data from the World 00:04:26.520 --> 00:04:28.129 align:start position:0% and according to data from the World Bank<00:04:26.759> remittance<00:04:27.360> flows<00:04:27.600> to<00:04:27.720> Latin<00:04:28.020> America 00:04:28.129 --> 00:04:28.139 align:start position:0% Bank remittance flows to Latin America 00:04:28.139 --> 00:04:30.350 align:start position:0% Bank remittance flows to Latin America and<00:04:28.380> the<00:04:28.500> Caribbean<00:04:28.800> reached<00:04:29.100> 131<00:04:29.940> billion 00:04:30.350 --> 00:04:30.360 align:start position:0% and the Caribbean reached 131 billion 00:04:30.360 --> 00:04:32.749 align:start position:0% and the Caribbean reached 131 billion dollars<00:04:30.720> this<00:04:31.320> is<00:04:31.440> something<00:04:31.620> that<00:04:31.919> crypto<00:04:32.280> is 00:04:32.749 --> 00:04:32.759 align:start position:0% dollars this is something that crypto is 00:04:32.759 --> 00:04:34.249 align:start position:0% dollars this is something that crypto is such<00:04:33.060> a<00:04:33.180> good<00:04:33.300> use<00:04:33.419> case<00:04:33.600> for<00:04:33.840> right<00:04:34.020> like 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position:0% so this is just a perfect example where it's<00:04:39.780> like<00:04:39.900> how<00:04:40.080> do<00:04:40.199> we<00:04:40.380> build<00:04:40.560> a<00:04:40.740> system<00:04:40.919> for 00:04:41.210 --> 00:04:41.220 align:start position:0% it's like how do we build a system for 00:04:41.220 --> 00:04:42.890 align:start position:0% it's like how do we build a system for people<00:04:41.400> who<00:04:41.699> are<00:04:41.759> already<00:04:42.000> transacting<00:04:42.660> and 00:04:42.890 --> 00:04:42.900 align:start position:0% people who are already transacting and 00:04:42.900 --> 00:04:45.230 align:start position:0% people who are already transacting and already<00:04:43.080> exhibiting<00:04:43.620> this<00:04:43.800> Behavior<00:04:44.220> but<00:04:45.000> can 00:04:45.230 --> 00:04:45.240 align:start position:0% already exhibiting this Behavior but can 00:04:45.240 --> 00:04:47.450 align:start position:0% already exhibiting this Behavior but can use<00:04:45.540> what<00:04:45.840> is<00:04:45.960> offered<00:04:46.259> by<00:04:46.440> crypto<00:04:46.860> to<00:04:47.160> kind<00:04:47.340> of 00:04:47.450 --> 00:04:47.460 align:start position:0% use what is offered by crypto to kind of 00:04:47.460 --> 00:04:49.670 align:start position:0% use what is offered by crypto to kind of unseat<00:04:48.240> the<00:04:48.479> kings<00:04:48.720> that<00:04:49.020> have<00:04:49.199> of<00:04:49.380> like 00:04:49.670 --> 00:04:49.680 align:start position:0% unseat the kings that have of like 00:04:49.680 --> 00:04:50.990 align:start position:0% unseat the kings that have of like remittance<00:04:50.160> for<00:04:50.400> example<00:04:50.580> where<00:04:50.880> you're 00:04:50.990 --> 00:04:51.000 align:start position:0% remittance for example where you're 00:04:51.000 --> 00:04:52.550 align:start position:0% remittance for example where you're standing<00:04:51.300> in<00:04:51.419> a<00:04:51.540> long<00:04:51.660> line<00:04:51.840> you're<00:04:52.139> paying<00:04:52.440> 10 00:04:52.550 --> 00:04:52.560 align:start position:0% standing in a long line you're paying 10 00:04:52.560 --> 00:04:54.110 align:start position:0% standing in a long line you're paying 10 for<00:04:52.979> a<00:04:53.160> transaction<00:04:53.400> you're<00:04:53.699> paying<00:04:53.940> five 00:04:54.110 --> 00:04:54.120 align:start position:0% for a transaction you're paying five 00:04:54.120 --> 00:04:55.790 align:start position:0% for a transaction you're paying five percent<00:04:54.360> it<00:04:55.020> takes<00:04:55.139> like<00:04:55.320> seven<00:04:55.560> business 00:04:55.790 --> 00:04:55.800 align:start position:0% percent it takes like seven business 00:04:55.800 --> 00:04:57.830 align:start position:0% percent it takes like seven business days<00:04:56.040> for<00:04:56.220> the<00:04:56.340> money<00:04:56.520> to<00:04:56.699> get<00:04:56.820> there<00:04:56.940> and<00:04:57.660> then 00:04:57.830 --> 00:04:57.840 align:start position:0% days for the money to get there and then 00:04:57.840 --> 00:04:59.210 align:start position:0% days for the money to get there and then a<00:04:58.139> really<00:04:58.380> interesting<00:04:58.680> thing<00:04:58.860> that<00:04:59.040> I<00:04:59.160> found 00:04:59.210 --> 00:04:59.220 align:start position:0% a really interesting thing that I found 00:04:59.220 --> 00:05:01.490 align:start position:0% a really interesting thing that I found in<00:04:59.400> this<00:04:59.520> world<00:04:59.639> Bank<00:04:59.880> data<00:05:00.240> is<00:05:00.360> that<00:05:00.600> remains 00:05:01.490 --> 00:05:01.500 align:start position:0% in this world Bank data is that remains 00:05:01.500 --> 00:05:03.409 align:start position:0% in this world Bank data is that remains flows<00:05:01.860> actually<00:05:02.160> account<00:05:02.580> for<00:05:02.880> more<00:05:03.120> than<00:05:03.240> a 00:05:03.409 --> 00:05:03.419 align:start position:0% flows actually account for more than a 00:05:03.419 --> 00:05:05.030 align:start position:0% flows actually account for more than a quarter<00:05:03.720> of<00:05:03.780> GDP<00:05:04.199> in<00:05:04.380> Honduras<00:05:04.860> and<00:05:04.919> El 00:05:05.030 --> 00:05:05.040 align:start position:0% quarter of GDP in Honduras and El 00:05:05.040 --> 00:05:07.010 align:start position:0% quarter of GDP in Honduras and El Salvador<00:05:05.520> so<00:05:06.180> a<00:05:06.300> quarter<00:05:06.600> of<00:05:06.720> the<00:05:06.900> whole 00:05:07.010 --> 00:05:07.020 align:start position:0% Salvador so a quarter of the whole 00:05:07.020 --> 00:05:08.990 align:start position:0% Salvador so a quarter of the whole country's<00:05:07.440> GDP<00:05:07.800> comes<00:05:08.160> from<00:05:08.280> cross-border 00:05:08.990 --> 00:05:09.000 align:start position:0% country's GDP comes from cross-border 00:05:09.000 --> 00:05:10.490 align:start position:0% country's GDP comes from cross-border payments 00:05:10.490 --> 00:05:10.500 align:start position:0% payments 00:05:10.500 --> 00:05:12.170 align:start position:0% payments okay<00:05:11.040> and<00:05:11.280> then<00:05:11.400> let's<00:05:11.580> talk<00:05:11.759> about<00:05:11.880> social 00:05:12.170 --> 00:05:12.180 align:start position:0% okay and then let's talk about social 00:05:12.180 --> 00:05:13.790 align:start position:0% okay and then let's talk about social pressures<00:05:12.660> and<00:05:13.020> the<00:05:13.199> first<00:05:13.320> one<00:05:13.440> in<00:05:13.560> this<00:05:13.680> term 00:05:13.790 --> 00:05:13.800 align:start position:0% pressures and the first one in this term 00:05:13.800 --> 00:05:15.830 align:start position:0% pressures and the first one in this term which<00:05:13.979> is<00:05:14.100> machismo<00:05:14.699> now<00:05:15.180> I<00:05:15.360> didn't<00:05:15.479> have<00:05:15.660> time 00:05:15.830 --> 00:05:15.840 align:start position:0% which is machismo now I didn't have time 00:05:15.840 --> 00:05:17.210 align:start position:0% which is machismo now I didn't have time to<00:05:15.960> go<00:05:16.080> into<00:05:16.139> a<00:05:16.380> full<00:05:16.440> analysis<00:05:16.860> about<00:05:17.040> this 00:05:17.210 --> 00:05:17.220 align:start position:0% to go into a full analysis about this 00:05:17.220 --> 00:05:18.290 align:start position:0% to go into a full analysis about this because<00:05:17.340> this<00:05:17.520> presentation<00:05:17.820> is<00:05:18.000> so<00:05:18.120> short 00:05:18.290 --> 00:05:18.300 align:start position:0% because this presentation is so short 00:05:18.300 --> 00:05:19.370 align:start position:0% because this presentation is so short but<00:05:18.479> if<00:05:18.600> you<00:05:18.660> look<00:05:18.780> at<00:05:18.900> these<00:05:19.020> countries<00:05:19.259> and 00:05:19.370 --> 00:05:19.380 align:start position:0% but if you look at these countries and 00:05:19.380 --> 00:05:21.469 align:start position:0% but if you look at these countries and you<00:05:19.500> take<00:05:19.680> a<00:05:19.740> look<00:05:19.860> at<00:05:20.160> Colombia<00:05:20.580> all<00:05:21.300> the 00:05:21.469 --> 00:05:21.479 align:start position:0% you take a look at Colombia all the 00:05:21.479 --> 00:05:22.969 align:start position:0% you take a look at Colombia all the Latin<00:05:21.780> American<00:05:21.900> countries<00:05:22.259> up<00:05:22.440> here<00:05:22.620> you<00:05:22.740> see 00:05:22.969 --> 00:05:22.979 align:start position:0% Latin American countries up here you see 00:05:22.979 --> 00:05:25.070 align:start position:0% Latin American countries up here you see oh<00:05:23.280> man<00:05:23.460> the<00:05:23.880> key<00:05:24.000> got<00:05:24.240> cut<00:05:24.419> out<00:05:24.600> but<00:05:24.780> green 00:05:25.070 --> 00:05:25.080 align:start position:0% oh man the key got cut out but green 00:05:25.080 --> 00:05:27.529 align:start position:0% oh man the key got cut out but green means<00:05:25.500> women<00:05:25.680> and<00:05:26.100> and<00:05:26.280> blue<00:05:26.520> means<00:05:26.940> men<00:05:27.060> so<00:05:27.360> if 00:05:27.529 --> 00:05:27.539 align:start position:0% means women and and blue means men so if 00:05:27.539 --> 00:05:28.850 align:start position:0% means women and and blue means men so if you<00:05:27.660> compare<00:05:27.900> it<00:05:28.020> to<00:05:28.139> European<00:05:28.560> countries 00:05:28.850 --> 00:05:28.860 align:start position:0% you compare it to European countries 00:05:28.860 --> 00:05:30.170 align:start position:0% you compare it to European countries women<00:05:29.100> are<00:05:29.340> actually<00:05:29.580> holding<00:05:30.060> and 00:05:30.170 --> 00:05:30.180 align:start position:0% women are actually holding and 00:05:30.180 --> 00:05:31.790 align:start position:0% women are actually holding and transacting<00:05:30.660> in<00:05:30.780> crypto<00:05:31.080> at<00:05:31.320> a<00:05:31.500> much<00:05:31.560> higher 00:05:31.790 --> 00:05:31.800 align:start position:0% transacting in crypto at a much higher 00:05:31.800 --> 00:05:33.590 align:start position:0% transacting in crypto at a much higher rate<00:05:31.919> than<00:05:32.100> women<00:05:32.280> in<00:05:32.580> Europe<00:05:32.759> and<00:05:33.300> in<00:05:33.479> some 00:05:33.590 --> 00:05:33.600 align:start position:0% rate than women in Europe and in some 00:05:33.600 --> 00:05:35.270 align:start position:0% rate than women in Europe and in some cases<00:05:33.840> they're<00:05:34.199> really<00:05:34.440> close<00:05:34.680> to<00:05:34.919> the<00:05:35.100> rate 00:05:35.270 --> 00:05:35.280 align:start position:0% cases they're really close to the rate 00:05:35.280 --> 00:05:37.490 align:start position:0% cases they're really close to the rate of<00:05:35.460> men<00:05:35.639> in<00:05:35.820> Europe<00:05:36.479> so<00:05:36.840> what<00:05:37.020> does<00:05:37.199> this<00:05:37.320> mean 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guys are Latin American there's this culture<00:05:42.120> of<00:05:42.240> machismo<00:05:42.840> which<00:05:43.259> is<00:05:43.380> like<00:05:43.620> super 00:05:43.790 --> 00:05:43.800 align:start position:0% culture of machismo which is like super 00:05:43.800 --> 00:05:45.590 align:start position:0% culture of machismo which is like super rampant<00:05:44.280> and<00:05:44.520> for<00:05:44.699> maybe<00:05:44.880> Americans<00:05:45.360> who 00:05:45.590 --> 00:05:45.600 align:start position:0% rampant and for maybe Americans who 00:05:45.600 --> 00:05:46.610 align:start position:0% rampant and for maybe Americans who don't<00:05:45.780> know<00:05:45.900> what<00:05:46.020> it<00:05:46.080> means<00:05:46.259> it's<00:05:46.380> basically 00:05:46.610 --> 00:05:46.620 align:start position:0% don't know what it means it's basically 00:05:46.620 --> 00:05:49.430 align:start position:0% don't know what it means it's basically patriarchy<00:05:47.460> but<00:05:48.300> with<00:05:48.600> like<00:05:48.780> a<00:05:48.960> Latin<00:05:49.320> America 00:05:49.430 --> 00:05:49.440 align:start position:0% patriarchy but with like a Latin America 00:05:49.440 --> 00:05:51.350 align:start position:0% patriarchy but with like a Latin America Flair<00:05:49.919> to<00:05:50.100> it<00:05:50.220> where<00:05:50.400> it's<00:05:50.580> like<00:05:50.759> you're<00:05:51.180> not 00:05:51.350 --> 00:05:51.360 align:start position:0% Flair to it where it's like you're not 00:05:51.360 --> 00:05:53.090 align:start position:0% Flair to it where it's like you're not allowed<00:05:51.660> to<00:05:51.720> work<00:05:52.020> you<00:05:52.380> need<00:05:52.500> to<00:05:52.560> ask<00:05:52.740> me<00:05:52.919> for 00:05:53.090 --> 00:05:53.100 align:start position:0% allowed to work you need to ask me for 00:05:53.100 --> 00:05:55.310 align:start position:0% allowed to work you need to ask me for money<00:05:53.280> you<00:05:53.580> need<00:05:53.699> to<00:05:53.820> stay<00:05:54.060> home 00:05:55.310 --> 00:05:55.320 align:start position:0% money you need to stay home 00:05:55.320 --> 00:05:56.870 align:start position:0% money you need to stay home um<00:05:55.440> you<00:05:55.620> know<00:05:55.680> you<00:05:55.919> need<00:05:56.039> to<00:05:56.160> like<00:05:56.340> be<00:05:56.520> subject 00:05:56.870 --> 00:05:56.880 align:start position:0% um you know you need to like be subject 00:05:56.880 --> 00:05:59.029 align:start position:0% um you know you need to like be subject to<00:05:57.060> what<00:05:57.300> I<00:05:57.419> want<00:05:57.600> and<00:05:58.199> that<00:05:58.380> takes<00:05:58.560> form<00:05:58.740> in<00:05:58.979> a 00:05:59.029 --> 00:05:59.039 align:start position:0% to what I want and that takes form in a 00:05:59.039 --> 00:06:00.350 align:start position:0% to what I want and that takes form in a lot<00:05:59.160> of<00:05:59.220> different<00:05:59.340> ways<00:05:59.699> which<00:05:59.940> we<00:06:00.060> won't<00:06:00.180> get 00:06:00.350 --> 00:06:00.360 align:start position:0% lot of different ways which we won't get 00:06:00.360 --> 00:06:01.670 align:start position:0% lot of different ways which we won't get into<00:06:00.419> but<00:06:00.720> I<00:06:00.840> encourage<00:06:01.080> you<00:06:01.199> guys<00:06:01.259> to<00:06:01.380> look<00:06:01.560> at 00:06:01.670 --> 00:06:01.680 align:start position:0% into but I encourage you guys to look at 00:06:01.680 --> 00:06:03.409 align:start position:0% into but I encourage you guys to look at research<00:06:01.979> but<00:06:02.340> what<00:06:02.520> is<00:06:02.699> the<00:06:02.820> signal<00:06:03.060> to<00:06:03.180> me<00:06:03.300> it 00:06:03.409 --> 00:06:03.419 align:start position:0% research but what is the signal to me it 00:06:03.419 --> 00:06:05.029 align:start position:0% research but what is the signal to me it signals<00:06:03.780> that<00:06:03.900> crypto<00:06:04.320> is<00:06:04.440> offering<00:06:04.740> a<00:06:04.919> new 00:06:05.029 --> 00:06:05.039 align:start position:0% signals that crypto is offering a new 00:06:05.039 --> 00:06:07.850 align:start position:0% signals that crypto is offering a new way<00:06:05.220> for<00:06:05.460> women<00:06:05.639> to<00:06:06.000> transact<00:06:06.560> and<00:06:07.560> and 00:06:07.850 --> 00:06:07.860 align:start position:0% way for women to transact and and 00:06:07.860 --> 00:06:09.350 align:start position:0% way for women to transact and and operate<00:06:08.280> within<00:06:08.580> Financial<00:06:08.759> Freedom<00:06:09.240> while 00:06:09.350 --> 00:06:09.360 align:start position:0% operate within Financial Freedom while 00:06:09.360 --> 00:06:10.670 align:start position:0% operate within Financial Freedom while still<00:06:09.660> operating<00:06:09.900> within<00:06:10.199> the<00:06:10.320> bounds<00:06:10.620> of 00:06:10.670 --> 00:06:10.680 align:start position:0% still operating within the bounds of 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like sign up for PayPal they're gonna<00:06:21.360> get<00:06:21.479> mailed<00:06:21.840> to<00:06:21.960> their<00:06:22.080> house<00:06:22.259> like 00:06:22.670 --> 00:06:22.680 align:start position:0% gonna get mailed to their house like 00:06:22.680 --> 00:06:24.409 align:start position:0% gonna get mailed to their house like these<00:06:22.860> are<00:06:22.979> all<00:06:23.160> things<00:06:23.400> that<00:06:23.819> they<00:06:24.120> could<00:06:24.240> run 00:06:24.409 --> 00:06:24.419 align:start position:0% these are all things that they could run 00:06:24.419 --> 00:06:26.270 align:start position:0% these are all things that they could run a<00:06:24.539> risk<00:06:24.780> if<00:06:24.900> they<00:06:25.080> try<00:06:25.259> to<00:06:25.440> you<00:06:25.740> know<00:06:25.800> break<00:06:26.039> out 00:06:26.270 --> 00:06:26.280 align:start position:0% a risk if they try to you know break out 00:06:26.280 --> 00:06:28.610 align:start position:0% a risk if they try to you know break out of<00:06:26.460> whatever<00:06:26.759> kind<00:06:27.539> of<00:06:27.600> like<00:06:27.720> limits<00:06:28.259> are<00:06:28.380> set 00:06:28.610 --> 00:06:28.620 align:start position:0% of whatever kind of like limits are set 00:06:28.620 --> 00:06:31.430 align:start position:0% of whatever kind of like limits are set on<00:06:28.860> them<00:06:28.979> okay<00:06:29.639> now<00:06:30.000> let's<00:06:30.300> talk<00:06:30.479> about<00:06:30.720> how<00:06:31.319> do 00:06:31.430 --> 00:06:31.440 align:start position:0% on them okay now let's talk about how do 00:06:31.440 --> 00:06:33.230 align:start position:0% on them okay now let's talk about how do we<00:06:31.620> actually<00:06:31.979> innovate<00:06:32.580> and<00:06:32.759> what<00:06:32.940> are<00:06:33.120> some 00:06:33.230 --> 00:06:33.240 align:start position:0% we actually innovate and what are some 00:06:33.240 --> 00:06:35.390 align:start position:0% we actually innovate and what are some examples<00:06:33.600> of<00:06:33.840> companies<00:06:34.199> who<00:06:34.560> have<00:06:34.800> focused 00:06:35.390 --> 00:06:35.400 align:start position:0% examples of companies who have focused 00:06:35.400 --> 00:06:37.189 align:start position:0% examples of companies who have focused on<00:06:35.520> solving<00:06:35.880> hyper<00:06:36.180> local<00:06:36.360> problems<00:06:36.840> and<00:06:37.020> have 00:06:37.189 --> 00:06:37.199 align:start position:0% on solving hyper local problems and have 00:06:37.199 --> 00:06:39.590 align:start position:0% on solving hyper local problems and have seen<00:06:37.500> crazy<00:06:37.740> growth<00:06:38.160> come<00:06:38.340> of<00:06:38.460> it<00:06:38.759> and<00:06:39.300> how<00:06:39.479> we 00:06:39.590 --> 00:06:39.600 align:start position:0% seen crazy growth come of it and how we 00:06:39.600 --> 00:06:41.090 align:start position:0% seen crazy growth come of it and how we can<00:06:39.720> model<00:06:39.840> this<00:06:40.080> in<00:06:40.199> crypto<00:06:40.500> so<00:06:40.680> Mercado 00:06:41.090 --> 00:06:41.100 align:start position:0% can model this in crypto so Mercado 00:06:41.100 --> 00:06:42.070 align:start position:0% can model this in crypto so Mercado Libre 00:06:42.070 --> 00:06:42.080 align:start position:0% Libre 00:06:42.080 --> 00:06:44.749 align:start position:0% Libre is<00:06:43.080> like<00:06:43.319> an<00:06:43.500> online<00:06:43.680> marketplace<00:06:44.520> where 00:06:44.749 --> 00:06:44.759 align:start position:0% is like an online marketplace where 00:06:44.759 --> 00:06:46.309 align:start position:0% is like an online marketplace where people<00:06:44.880> can<00:06:45.060> buy<00:06:45.180> anything<00:06:45.360> beds<00:06:46.020> clothes 00:06:46.309 --> 00:06:46.319 align:start position:0% people can buy anything beds clothes 00:06:46.319 --> 00:06:48.710 align:start position:0% people can buy anything beds clothes tools<00:06:46.919> anything<00:06:47.160> and<00:06:47.940> they<00:06:48.120> started<00:06:48.539> this 00:06:48.710 --> 00:06:48.720 align:start position:0% tools anything and they started this 00:06:48.720 --> 00:06:50.390 align:start position:0% tools anything and they started this platform<00:06:49.020> over<00:06:49.199> a<00:06:49.440> decade<00:06:49.680> ago<00:06:49.860> in<00:06:49.979> Colombia 00:06:50.390 --> 00:06:50.400 align:start position:0% platform over a decade ago in Colombia 00:06:50.400 --> 00:06:52.370 align:start position:0% platform over a decade ago in Colombia and<00:06:50.940> they<00:06:51.060> created<00:06:51.360> this<00:06:51.780> uh<00:06:52.080> Financial 00:06:52.370 --> 00:06:52.380 align:start position:0% and they created this uh Financial 00:06:52.380 --> 00:06:54.650 align:start position:0% and they created this uh Financial platform<00:06:53.220> called<00:06:53.400> medical<00:06:53.639> so<00:06:54.419> that<00:06:54.539> people 00:06:54.650 --> 00:06:54.660 align:start position:0% platform called medical so that people 00:06:54.660 --> 00:06:56.390 align:start position:0% platform called medical so that people could<00:06:54.840> transact<00:06:55.199> on<00:06:55.440> it<00:06:55.620> and<00:06:55.919> it<00:06:56.039> started<00:06:56.280> out 00:06:56.390 --> 00:06:56.400 align:start position:0% could transact on it and it started out 00:06:56.400 --> 00:06:57.950 align:start position:0% could transact on it and it started out as<00:06:56.580> just<00:06:56.819> for<00:06:57.060> this<00:06:57.180> just<00:06:57.419> for<00:06:57.600> this<00:06:57.780> payment 00:06:57.950 --> 00:06:57.960 align:start position:0% as just for this just for this payment 00:06:57.960 --> 00:07:00.350 align:start position:0% as just for this just for this payment platform<00:06:58.440> and<00:06:59.160> now<00:06:59.340> it's<00:06:59.520> grown<00:06:59.759> to<00:06:59.940> be<00:07:00.120> a 00:07:00.350 --> 00:07:00.360 align:start position:0% platform and now it's grown to be a 00:07:00.360 --> 00:07:01.909 align:start position:0% platform and now it's grown to be a whole<00:07:00.539> financial<00:07:00.840> service<00:07:01.259> provider<00:07:01.740> and 00:07:01.909 --> 00:07:01.919 align:start position:0% whole financial service provider and 00:07:01.919 --> 00:07:03.529 align:start position:0% whole financial service provider and they<00:07:02.100> offer<00:07:02.400> Gateway<00:07:02.880> Services<00:07:03.180> mobile 00:07:03.529 --> 00:07:03.539 align:start position:0% they offer Gateway Services mobile 00:07:03.539 --> 00:07:05.809 align:start position:0% they offer Gateway Services mobile payments<00:07:04.020> and<00:07:04.139> credit<00:07:04.319> cards<00:07:05.100> so<00:07:05.520> what<00:07:05.639> does 00:07:05.809 --> 00:07:05.819 align:start position:0% payments and credit cards so what does 00:07:05.819 --> 00:07:07.430 align:start position:0% payments and credit cards so what does this<00:07:05.940> mean<00:07:06.060> right<00:07:06.240> like<00:07:06.419> this<00:07:06.720> means<00:07:06.960> when<00:07:07.199> you 00:07:07.430 --> 00:07:07.440 align:start position:0% this mean right like this means when you 00:07:07.440 --> 00:07:09.770 align:start position:0% this mean right like this means when you go<00:07:08.039> to<00:07:08.280> a<00:07:08.460> place<00:07:08.580> that<00:07:08.880> has<00:07:09.000> region<00:07:09.419> specific 00:07:09.770 --> 00:07:09.780 align:start position:0% go to a place that has region specific 00:07:09.780 --> 00:07:12.170 align:start position:0% go to a place that has region specific problems<00:07:10.259> and<00:07:10.440> you<00:07:10.620> solve<00:07:10.919> hyper<00:07:11.220> local<00:07:11.460> you 00:07:12.170 --> 00:07:12.180 align:start position:0% problems and you solve hyper local you 00:07:12.180 --> 00:07:14.390 align:start position:0% problems and you solve hyper local you can<00:07:12.300> actually<00:07:12.539> drive<00:07:12.960> use<00:07:13.440> and<00:07:13.979> Innovation 00:07:14.390 --> 00:07:14.400 align:start position:0% can actually drive use and Innovation 00:07:14.400 --> 00:07:16.730 align:start position:0% can actually drive use and Innovation and<00:07:14.819> grow<00:07:15.000> into<00:07:15.300> like<00:07:15.780> this<00:07:16.139> this<00:07:16.380> is<00:07:16.560> a<00:07:16.680> great 00:07:16.730 --> 00:07:16.740 align:start position:0% and grow into like this this is a great 00:07:16.740 --> 00:07:17.990 align:start position:0% and grow into like this this is a great example<00:07:16.979> until<00:07:17.100> like<00:07:17.400> an<00:07:17.520> entire<00:07:17.759> financial 00:07:17.990 --> 00:07:18.000 align:start position:0% example until like an entire financial 00:07:18.000 --> 00:07:19.790 align:start position:0% example until like an entire financial service<00:07:18.419> and<00:07:19.139> then<00:07:19.259> we'll<00:07:19.380> talk<00:07:19.500> about<00:07:19.560> one 00:07:19.790 --> 00:07:19.800 align:start position:0% service and then we'll talk about one 00:07:19.800 --> 00:07:22.370 align:start position:0% service and then we'll talk about one more<00:07:19.979> pixpain<00:07:20.819> Brazil<00:07:21.180> is<00:07:21.479> Brazil's<00:07:22.080> dominant 00:07:22.370 --> 00:07:22.380 align:start position:0% more pixpain Brazil is Brazil's dominant 00:07:22.380 --> 00:07:24.110 align:start position:0% more pixpain Brazil is Brazil's dominant digital<00:07:22.740> payments<00:07:23.099> up<00:07:23.220> with<00:07:23.400> over<00:07:23.520> 60<00:07:23.759> million 00:07:24.110 --> 00:07:24.120 align:start position:0% digital payments up with over 60 million 00:07:24.120 --> 00:07:26.330 align:start position:0% digital payments up with over 60 million users<00:07:24.419> and<00:07:24.599> they<00:07:24.720> transact<00:07:25.139> over<00:07:25.740> a<00:07:25.979> million 00:07:26.330 --> 00:07:26.340 align:start position:0% users and they transact over a million 00:07:26.340 --> 00:07:29.629 align:start position:0% users and they transact over a million dollars<00:07:26.819> no<00:07:27.539> that's<00:07:27.840> a<00:07:28.080> billion<00:07:28.440> dollars<00:07:28.800> in 00:07:29.629 --> 00:07:29.639 align:start position:0% dollars no that's a billion dollars in 00:07:29.639 --> 00:07:31.490 align:start position:0% dollars no that's a billion dollars in monthly<00:07:30.000> transactions<00:07:30.539> big<00:07:31.020> space<00:07:31.199> started 00:07:31.490 --> 00:07:31.500 align:start position:0% monthly transactions big space started 00:07:31.500 --> 00:07:33.230 align:start position:0% monthly transactions big space started not<00:07:31.680> too<00:07:31.800> long<00:07:31.919> ago<00:07:32.160> it's<00:07:32.639> the<00:07:32.880> number<00:07:33.060> one 00:07:33.230 --> 00:07:33.240 align:start position:0% not too long ago it's the number one 00:07:33.240 --> 00:07:35.150 align:start position:0% not too long ago it's the number one payment<00:07:33.479> system<00:07:33.780> in<00:07:34.020> Brazil<00:07:34.380> right<00:07:34.560> now 00:07:35.150 --> 00:07:35.160 align:start position:0% payment system in Brazil right now 00:07:35.160 --> 00:07:37.730 align:start position:0% payment system in Brazil right now another<00:07:35.759> example<00:07:36.180> of<00:07:36.360> like<00:07:36.599> when<00:07:37.380> you<00:07:37.500> solve 00:07:37.730 --> 00:07:37.740 align:start position:0% another example of like when you solve 00:07:37.740 --> 00:07:39.409 align:start position:0% another example of like when you solve hyper<00:07:38.039> local<00:07:38.220> when<00:07:38.580> you<00:07:38.759> go<00:07:38.880> to<00:07:39.060> where<00:07:39.300> the 00:07:39.409 --> 00:07:39.419 align:start position:0% hyper local when you go to where the 00:07:39.419 --> 00:07:42.050 align:start position:0% hyper local when you go to where the problems<00:07:39.840> are<00:07:39.960> when<00:07:40.560> you<00:07:40.860> solve<00:07:41.759> solutions 00:07:42.050 --> 00:07:42.060 align:start position:0% problems are when you solve solutions 00:07:42.060 --> 00:07:43.969 align:start position:0% problems are when you solve solutions for<00:07:42.479> people<00:07:42.780> who<00:07:43.080> actually<00:07:43.259> are<00:07:43.440> facing<00:07:43.800> real 00:07:43.969 --> 00:07:43.979 align:start position:0% for people who actually are facing real 00:07:43.979 --> 00:07:45.409 align:start position:0% for people who actually are facing real problems<00:07:44.460> you<00:07:44.940> can<00:07:45.000> actually<00:07:45.120> see 00:07:45.409 --> 00:07:45.419 align:start position:0% problems you can actually see 00:07:45.419 --> 00:07:47.089 align:start position:0% problems you can actually see exponential<00:07:46.020> growth<00:07:46.319> rather<00:07:46.620> than<00:07:46.740> kind<00:07:46.979> of 00:07:47.089 --> 00:07:47.099 align:start position:0% exponential growth rather than kind of 00:07:47.099 --> 00:07:49.249 align:start position:0% exponential growth rather than kind of focusing<00:07:47.460> on<00:07:47.699> this<00:07:47.940> like<00:07:48.180> place<00:07:48.780> where<00:07:48.960> we<00:07:49.080> are 00:07:49.249 --> 00:07:49.259 align:start position:0% focusing on this like place where we are 00:07:49.259 --> 00:07:50.930 align:start position:0% focusing on this like place where we are in<00:07:49.380> that<00:07:49.500> weird<00:07:49.680> quadrant<00:07:50.400> that<00:07:50.580> I<00:07:50.699> posted 00:07:50.930 --> 00:07:50.940 align:start position:0% in that weird quadrant that I posted 00:07:50.940 --> 00:07:51.950 align:start position:0% in that weird quadrant that I posted earlier 00:07:51.950 --> 00:07:51.960 align:start position:0% earlier 00:07:51.960 --> 00:07:53.570 align:start position:0% earlier now<00:07:52.259> scalability<00:07:52.740> now<00:07:52.979> let's<00:07:53.099> get<00:07:53.220> into<00:07:53.340> the 00:07:53.570 --> 00:07:53.580 align:start position:0% now scalability now let's get into the 00:07:53.580 --> 00:07:55.129 align:start position:0% now scalability now let's get into the what<00:07:54.060> technically<00:07:54.419> needs<00:07:54.660> to<00:07:54.720> change<00:07:54.840> so<00:07:55.020> that 00:07:55.129 --> 00:07:55.139 align:start position:0% what technically needs to change so that 00:07:55.139 --> 00:07:56.990 align:start position:0% what technically needs to change so that we<00:07:55.259> can<00:07:55.380> actually<00:07:55.500> get<00:07:55.800> there<00:07:55.979> so<00:07:56.580> this<00:07:56.699> is<00:07:56.819> an 00:07:56.990 --> 00:07:57.000 align:start position:0% we can actually get there so this is an 00:07:57.000 --> 00:07:58.490 align:start position:0% we can actually get there so this is an introduction<00:07:57.300> to<00:07:57.539> fuel<00:07:57.720> Labs<00:07:58.199> I'm<00:07:58.259> the<00:07:58.440> head 00:07:58.490 --> 00:07:58.500 align:start position:0% introduction to fuel Labs I'm the head 00:07:58.500 --> 00:08:00.650 align:start position:0% introduction to fuel Labs I'm the head of<00:07:58.620> developer<00:07:58.979> relations<00:07:59.340> there<00:07:59.699> and<00:08:00.120> why<00:08:00.539> I'm 00:08:00.650 --> 00:08:00.660 align:start position:0% of developer relations there and why I'm 00:08:00.660 --> 00:08:02.210 align:start position:0% of developer relations there and why I'm really<00:08:00.840> excited<00:08:01.139> about<00:08:01.259> Fuel<00:08:01.560> and<00:08:01.800> one<00:08:02.039> of<00:08:02.160> the 00:08:02.210 --> 00:08:02.220 align:start position:0% really excited about Fuel and one of the 00:08:02.220 --> 00:08:03.770 align:start position:0% really excited about Fuel and one of the main<00:08:02.340> reasons<00:08:02.639> why<00:08:02.819> I<00:08:02.940> joined<00:08:03.120> fuels<00:08:03.479> for<00:08:03.599> my 00:08:03.770 --> 00:08:03.780 align:start position:0% main reasons why I joined fuels for my 00:08:03.780 --> 00:08:05.990 align:start position:0% main reasons why I joined fuels for my specific<00:08:04.139> Mission<00:08:04.560> and<00:08:04.860> Ethos<00:08:05.280> of<00:08:05.520> scaling 00:08:05.990 --> 00:08:06.000 align:start position:0% specific Mission and Ethos of scaling 00:08:06.000 --> 00:08:08.150 align:start position:0% specific Mission and Ethos of scaling ethereum<00:08:06.720> and<00:08:06.900> Latin<00:08:07.139> America<00:08:07.259> so<00:08:07.680> what<00:08:07.860> needs 00:08:08.150 --> 00:08:08.160 align:start position:0% ethereum and Latin America so what needs 00:08:08.160 --> 00:08:09.230 align:start position:0% ethereum and Latin America so what needs to<00:08:08.220> change 00:08:09.230 --> 00:08:09.240 align:start position:0% to change 00:08:09.240 --> 00:08:10.790 align:start position:0% to change scalability<00:08:09.960> right<00:08:10.199> right<00:08:10.380> now<00:08:10.500> we<00:08:10.680> just 00:08:10.790 --> 00:08:10.800 align:start position:0% scalability right right now we just 00:08:10.800 --> 00:08:12.409 align:start position:0% scalability right right now we just can't<00:08:10.919> handle<00:08:11.220> the<00:08:11.400> throughput<00:08:11.759> if<00:08:12.180> we<00:08:12.300> wanted 00:08:12.409 --> 00:08:12.419 align:start position:0% can't handle the throughput if we wanted 00:08:12.419 --> 00:08:14.089 align:start position:0% can't handle the throughput if we wanted to<00:08:12.660> do<00:08:12.780> something<00:08:12.900> like<00:08:13.139> Mercado<00:08:13.560> Pago<00:08:13.979> or 00:08:14.089 --> 00:08:14.099 align:start position:0% to do something like Mercado Pago or 00:08:14.099 --> 00:08:15.890 align:start position:0% to do something like Mercado Pago or pixby<00:08:14.520> it's<00:08:14.759> just<00:08:14.880> ethereum<00:08:15.360> cannot<00:08:15.720> handle 00:08:15.890 --> 00:08:15.900 align:start position:0% pixby it's just ethereum cannot handle 00:08:15.900 --> 00:08:17.029 align:start position:0% pixby it's just ethereum cannot handle it<00:08:16.020> at<00:08:16.139> this<00:08:16.259> point<00:08:16.380> so<00:08:16.500> we<00:08:16.680> need<00:08:16.740> to<00:08:16.860> scale 00:08:17.029 --> 00:08:17.039 align:start position:0% it at this point so we need to scale 00:08:17.039 --> 00:08:20.029 align:start position:0% it at this point so we need to scale that<00:08:17.280> how<00:08:17.699> do<00:08:17.819> we<00:08:17.940> address<00:08:18.060> that<00:08:18.419> so<00:08:18.780> fuel<00:08:19.319> Labs 00:08:20.029 --> 00:08:20.039 align:start position:0% that how do we address that so fuel Labs 00:08:20.039 --> 00:08:21.589 align:start position:0% that how do we address that so fuel Labs is<00:08:20.160> building<00:08:20.340> fuel<00:08:20.699> it's<00:08:20.940> like<00:08:21.120> a<00:08:21.240> layer<00:08:21.419> two 00:08:21.589 --> 00:08:21.599 align:start position:0% is building fuel it's like a layer two 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have<00:08:27.780> our<00:08:27.960> own<00:08:28.020> VM<00:08:28.379> called<00:08:28.560> the<00:08:28.740> fuel<00:08:28.919> VM<00:08:29.280> that 00:08:29.510 --> 00:08:29.520 align:start position:0% have our own VM called the fuel VM that 00:08:29.520 --> 00:08:31.249 align:start position:0% have our own VM called the fuel VM that allows<00:08:29.819> us<00:08:29.879> to<00:08:30.120> do<00:08:30.300> a<00:08:30.660> lot<00:08:30.780> of<00:08:30.900> cool<00:08:31.020> things 00:08:31.249 --> 00:08:31.259 align:start position:0% allows us to do a lot of cool things 00:08:31.259 --> 00:08:33.409 align:start position:0% allows us to do a lot of cool things like<00:08:31.620> uh<00:08:32.099> paralyzed<00:08:32.700> transactions<00:08:33.240> which 00:08:33.409 --> 00:08:33.419 align:start position:0% like uh paralyzed transactions which 00:08:33.419 --> 00:08:34.610 align:start position:0% like uh paralyzed transactions which just<00:08:33.659> automatically<00:08:34.080> gives<00:08:34.320> you<00:08:34.440> more 00:08:34.610 --> 00:08:34.620 align:start position:0% just automatically gives you more 00:08:34.620 --> 00:08:36.170 align:start position:0% just automatically gives you more throughput<00:08:34.979> because<00:08:35.219> instead<00:08:35.580> of<00:08:35.640> having<00:08:35.880> to 00:08:36.170 --> 00:08:36.180 align:start position:0% throughput because instead of having to 00:08:36.180 --> 00:08:37.790 align:start position:0% throughput because instead of having to do<00:08:36.539> one<00:08:36.719> transaction<00:08:37.080> at<00:08:37.260> a<00:08:37.440> time<00:08:37.500> you<00:08:37.620> can<00:08:37.740> do 00:08:37.790 --> 00:08:37.800 align:start position:0% do one transaction at a time you can do 00:08:37.800 --> 00:08:39.649 align:start position:0% do one transaction at a time you can do many<00:08:37.979> transactions<00:08:38.580> at<00:08:38.760> a<00:08:38.880> time<00:08:39.000> and<00:08:39.479> right 00:08:39.649 --> 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sacrificing decentralization<00:08:45.120> so<00:08:45.540> a<00:08:45.839> lot<00:08:45.959> of<00:08:46.020> chains<00:08:46.320> like 00:08:46.430 --> 00:08:46.440 align:start position:0% decentralization so a lot of chains like 00:08:46.440 --> 00:08:48.050 align:start position:0% decentralization so a lot of chains like Solana<00:08:46.800> and<00:08:47.040> stuff<00:08:47.160> they<00:08:47.399> can<00:08:47.580> do<00:08:47.700> really<00:08:47.880> high 00:08:48.050 --> 00:08:48.060 align:start position:0% Solana and stuff they can do really high 00:08:48.060 --> 00:08:49.509 align:start position:0% Solana and stuff they can do really high throughput<00:08:48.480> but<00:08:48.720> they're<00:08:48.899> sacrificing 00:08:49.509 --> 00:08:49.519 align:start position:0% throughput but they're sacrificing 00:08:49.519 --> 00:08:51.410 align:start position:0% throughput but they're sacrificing decentralization<00:08:50.519> what<00:08:51.000> does<00:08:51.180> that<00:08:51.300> mean 00:08:51.410 --> 00:08:51.420 align:start position:0% decentralization what does that mean 00:08:51.420 --> 00:08:53.090 align:start position:0% decentralization what does that mean exactly<00:08:51.720> you<00:08:52.019> can't<00:08:52.140> run<00:08:52.320> a<00:08:52.500> full<00:08:52.620> node<00:08:52.920> at 00:08:53.090 --> 00:08:53.100 align:start position:0% exactly you can't run a full node at 00:08:53.100 --> 00:08:55.250 align:start position:0% exactly you can't run a full node at home<00:08:53.220> you<00:08:54.000> on<00:08:54.180> consumer<00:08:54.540> Hardware<00:08:54.720> can<00:08:55.080> go 00:08:55.250 --> 00:08:55.260 align:start position:0% home you on consumer Hardware can go 00:08:55.260 --> 00:08:56.570 align:start position:0% home you on consumer Hardware can go spin<00:08:55.500> up<00:08:55.560> a<00:08:55.740> full<00:08:55.860> note<00:08:55.980> and<00:08:56.160> validate<00:08:56.459> the 00:08:56.570 --> 00:08:56.580 align:start position:0% spin up a full note and validate the 00:08:56.580 --> 00:08:58.730 align:start position:0% spin up a full note and validate the chain<00:08:56.700> yourself<00:08:57.000> that<00:08:57.779> is<00:08:57.899> the<00:08:58.019> core<00:08:58.140> ethos<00:08:58.500> of 00:08:58.730 --> 00:08:58.740 align:start position:0% chain yourself that is the core ethos of 00:08:58.740 --> 00:09:00.050 align:start position:0% chain yourself that is the core ethos of blockchain<00:08:59.040> if<00:08:59.279> you<00:08:59.399> can't<00:08:59.459> run<00:08:59.640> a<00:08:59.760> full<00:08:59.880> note 00:09:00.050 --> 00:09:00.060 align:start position:0% blockchain if you can't run a full note 00:09:00.060 --> 00:09:02.090 align:start position:0% blockchain if you can't run a full note and<00:09:00.300> have<00:09:00.660> control<00:09:00.839> over<00:09:01.080> your<00:09:01.260> money<00:09:01.440> then<00:09:01.740> we 00:09:02.090 --> 00:09:02.100 align:start position:0% and have control over your money then we 00:09:02.100 --> 00:09:03.470 align:start position:0% and have control over your money then we might<00:09:02.220> as<00:09:02.339> well<00:09:02.519> just<00:09:02.700> like<00:09:02.880> all<00:09:03.000> go<00:09:03.240> back<00:09:03.360> to 00:09:03.470 --> 00:09:03.480 align:start position:0% might as well just like all go back to 00:09:03.480 --> 00:09:05.269 align:start position:0% might as well just like all go back to using<00:09:03.720> PayPal<00:09:04.080> or<00:09:04.200> the<00:09:04.380> bank<00:09:04.500> okay<00:09:05.040> more 00:09:05.269 --> 00:09:05.279 align:start position:0% using PayPal or the bank okay more 00:09:05.279 --> 00:09:07.730 align:start position:0% using PayPal or the bank okay more secure<00:09:05.700> applications<00:09:06.180> so<00:09:06.959> again<00:09:07.200> when<00:09:07.620> we're 00:09:07.730 --> 00:09:07.740 align:start position:0% secure applications so again when we're 00:09:07.740 --> 00:09:09.170 align:start position:0% secure applications so again when we're talking<00:09:07.860> about<00:09:08.040> a<00:09:08.279> price<00:09:08.399> sensitive 00:09:09.170 --> 00:09:09.180 align:start position:0% talking about a price sensitive 00:09:09.180 --> 00:09:11.090 align:start position:0% talking about a price sensitive population<00:09:09.480> with<00:09:10.019> an<00:09:10.200> average<00:09:10.320> income<00:09:10.740> we 00:09:11.090 --> 00:09:11.100 align:start position:0% population with an average income we 00:09:11.100 --> 00:09:13.070 align:start position:0% population with an average income we can't<00:09:11.279> risk<00:09:11.760> hacks<00:09:12.120> we<00:09:12.300> can't<00:09:12.420> risk<00:09:12.779> this<00:09:12.899> type 00:09:13.070 --> 00:09:13.080 align:start position:0% can't risk hacks we can't risk this type 00:09:13.080 --> 00:09:14.630 align:start position:0% can't risk hacks we can't risk this type of<00:09:13.200> level<00:09:13.560> of<00:09:13.740> security<00:09:13.860> if<00:09:14.100> we<00:09:14.279> actually<00:09:14.399> want 00:09:14.630 --> 00:09:14.640 align:start position:0% of level of security if we actually want 00:09:14.640 --> 00:09:16.850 align:start position:0% of level of security if we actually want these<00:09:14.820> people<00:09:14.940> to<00:09:15.180> use<00:09:15.300> it<00:09:15.480> now<00:09:16.320> another<00:09:16.620> cool 00:09:16.850 --> 00:09:16.860 align:start position:0% these people to use it now another cool 00:09:16.860 --> 00:09:18.050 align:start position:0% these people to use it now another cool thing<00:09:17.040> about<00:09:17.160> fuel<00:09:17.399> is<00:09:17.580> we<00:09:17.700> have<00:09:17.820> our<00:09:17.940> own 00:09:18.050 --> 00:09:18.060 align:start position:0% thing about fuel is we have our own 00:09:18.060 --> 00:09:19.550 align:start position:0% thing about fuel is we have our own programming<00:09:18.480> language<00:09:18.660> called<00:09:18.959> sway<00:09:19.200> which 00:09:19.550 --> 00:09:19.560 align:start position:0% programming language called sway which 00:09:19.560 --> 00:09:21.710 align:start position:0% programming language called sway which is<00:09:19.620> a<00:09:19.800> rust-based<00:09:20.399> DSL<00:09:20.880> which<00:09:21.240> means<00:09:21.480> it's<00:09:21.600> a 00:09:21.710 --> 00:09:21.720 align:start position:0% is a rust-based DSL which means it's a 00:09:21.720 --> 00:09:22.550 align:start position:0% is a rust-based DSL which means it's a programming<00:09:22.019> language<00:09:22.140> created 00:09:22.550 --> 00:09:22.560 align:start position:0% programming language created 00:09:22.560 --> 00:09:24.230 align:start position:0% programming language created specifically<00:09:23.100> for<00:09:23.399> blockchain<00:09:23.760> development 00:09:24.230 --> 00:09:24.240 align:start position:0% specifically for blockchain development 00:09:24.240 --> 00:09:25.910 align:start position:0% specifically for blockchain development now<00:09:24.779> what<00:09:24.959> does<00:09:25.080> that<00:09:25.200> mean<00:09:25.380> that<00:09:25.680> you<00:09:25.800> can 00:09:25.910 --> 00:09:25.920 align:start position:0% now what does that mean that you can 00:09:25.920 --> 00:09:28.250 align:start position:0% now what does that mean that you can create<00:09:26.100> a<00:09:26.399> compiler<00:09:26.880> that<00:09:27.480> is<00:09:27.600> very<00:09:27.779> tailored 00:09:28.250 --> 00:09:28.260 align:start position:0% create a compiler that is very tailored 00:09:28.260 --> 00:09:29.750 align:start position:0% create a compiler that is very tailored to<00:09:28.380> very<00:09:28.560> specific<00:09:28.860> needs<00:09:29.220> and<00:09:29.339> one<00:09:29.580> of<00:09:29.640> them 00:09:29.750 --> 00:09:29.760 align:start position:0% to very specific needs and one of them 00:09:29.760 --> 00:09:31.670 align:start position:0% to very specific needs and one of them is<00:09:29.940> have<00:09:30.300> you<00:09:30.420> who's<00:09:30.660> heard<00:09:30.959> of<00:09:31.080> a<00:09:31.200> re-entrant 00:09:31.670 --> 00:09:31.680 align:start position:0% is have you who's heard of a re-entrant 00:09:31.680 --> 00:09:34.250 align:start position:0% is have you who's heard of a re-entrant debug<00:09:32.060> re-entracy<00:09:33.060> hacks<00:09:33.480> right<00:09:33.660> it's<00:09:34.080> like 00:09:34.250 --> 00:09:34.260 align:start position:0% debug re-entracy hacks right it's like 00:09:34.260 --> 00:09:36.170 align:start position:0% debug re-entracy hacks right it's like we're<00:09:34.560> in<00:09:34.980> a<00:09:35.100> very<00:09:35.220> simple<00:09:35.339> case<00:09:35.640> it's<00:09:35.880> kind<00:09:36.060> of 00:09:36.170 --> 00:09:36.180 align:start position:0% we're in a very simple case it's kind of 00:09:36.180 --> 00:09:37.790 align:start position:0% we're in a very simple case it's kind of where<00:09:36.420> there's<00:09:36.959> like<00:09:37.140> a<00:09:37.260> line<00:09:37.440> to<00:09:37.620> release 00:09:37.790 --> 00:09:37.800 align:start position:0% where there's like a line to release 00:09:37.800 --> 00:09:39.590 align:start position:0% where there's like a line to release some<00:09:38.100> funds<00:09:38.399> and<00:09:38.519> then<00:09:38.700> after<00:09:38.820> you<00:09:39.120> like<00:09:39.300> flip 00:09:39.590 --> 00:09:39.600 align:start position:0% some funds and then after you like flip 00:09:39.600 --> 00:09:41.090 align:start position:0% some funds and then after you like flip a<00:09:39.720> Boolean<00:09:40.019> to<00:09:40.200> say<00:09:40.380> true<00:09:40.560> money<00:09:40.800> has<00:09:40.980> been 00:09:41.090 --> 00:09:41.100 align:start position:0% a Boolean to say true money has been 00:09:41.100 --> 00:09:42.769 align:start position:0% a Boolean to say true money has been released<00:09:41.399> so<00:09:41.580> that<00:09:41.700> you<00:09:41.820> don't<00:09:41.880> do<00:09:42.060> it<00:09:42.180> again 00:09:42.769 --> 00:09:42.779 align:start position:0% released so that you don't do it again 00:09:42.779 --> 00:09:45.110 align:start position:0% released so that you don't do it again some<00:09:43.320> programmers<00:09:43.800> in<00:09:43.980> some<00:09:44.160> instances<00:09:44.519> there 00:09:45.110 --> 00:09:45.120 align:start position:0% some programmers in some instances there 00:09:45.120 --> 00:09:46.490 align:start position:0% some programmers in some instances there has<00:09:45.240> been<00:09:45.360> a<00:09:45.480> bug<00:09:45.600> here<00:09:45.779> where<00:09:46.019> someone<00:09:46.140> can<00:09:46.380> go 00:09:46.490 --> 00:09:46.500 align:start position:0% has been a bug here where someone can go 00:09:46.500 --> 00:09:47.990 align:start position:0% has been a bug here where someone can go into<00:09:46.560> your<00:09:46.800> contract<00:09:47.100> and<00:09:47.279> basically<00:09:47.640> drain 00:09:47.990 --> 00:09:48.000 align:start position:0% into your contract and basically drain 00:09:48.000 --> 00:09:49.490 align:start position:0% into your contract and basically drain it<00:09:48.120> and<00:09:48.360> get<00:09:48.600> the<00:09:48.720> money<00:09:48.839> over<00:09:49.080> and<00:09:49.260> over<00:09:49.380> and 00:09:49.490 --> 00:09:49.500 align:start position:0% it and get the money over and over and 00:09:49.500 --> 00:09:50.990 align:start position:0% it and get the money over and over and over<00:09:49.680> before<00:09:49.920> reaching<00:09:50.399> that<00:09:50.519> line<00:09:50.640> in<00:09:50.820> the 00:09:50.990 --> 00:09:51.000 align:start position:0% over before reaching that line in the 00:09:51.000 --> 00:09:52.670 align:start position:0% over before reaching that line in the execution<00:09:51.300> of<00:09:51.540> the<00:09:51.660> code<00:09:51.779> where<00:09:52.320> it<00:09:52.440> flips 00:09:52.670 --> 00:09:52.680 align:start position:0% execution of the code where it flips 00:09:52.680 --> 00:09:55.009 align:start position:0% execution of the code where it flips some<00:09:52.860> flag<00:09:53.100> to<00:09:53.459> to<00:09:53.700> stop<00:09:53.940> doing<00:09:54.120> it<00:09:54.360> so<00:09:54.839> now 00:09:55.009 --> 00:09:55.019 align:start position:0% some flag to to stop doing it so now 00:09:55.019 --> 00:09:58.370 align:start position:0% some flag to to stop doing it so now fuel<00:09:55.440> sway<00:09:56.279> our<00:09:56.519> compiler<00:09:57.000> has<00:09:57.480> built<00:09:58.320> into 00:09:58.370 --> 00:09:58.380 align:start position:0% fuel sway our compiler has built into 00:09:58.380 --> 00:10:00.650 align:start position:0% fuel sway our compiler has built into the<00:09:58.620> compiler<00:09:58.980> to<00:09:59.100> say<00:09:59.279> hey<00:09:59.459> on<00:09:59.760> line<00:09:59.940> 47<00:10:00.360> you 00:10:00.650 --> 00:10:00.660 align:start position:0% the compiler to say hey on line 47 you 00:10:00.660 --> 00:10:02.090 align:start position:0% the compiler to say hey on line 47 you have<00:10:00.779> a<00:10:00.899> re-entracy<00:10:01.320> vulnerability<00:10:01.800> and<00:10:01.980> it 00:10:02.090 --> 00:10:02.100 align:start position:0% have a re-entracy vulnerability and it 00:10:02.100 --> 00:10:03.470 align:start position:0% have a re-entracy vulnerability and it will<00:10:02.220> not<00:10:02.339> allow<00:10:02.640> you<00:10:02.700> to<00:10:02.880> build<00:10:03.000> and<00:10:03.180> deploy 00:10:03.470 --> 00:10:03.480 align:start position:0% will not allow you to build and deploy 00:10:03.480 --> 00:10:04.790 align:start position:0% will not allow you to build and deploy the<00:10:03.600> contract<00:10:03.899> until<00:10:04.080> you<00:10:04.380> address<00:10:04.500> it 00:10:04.790 --> 00:10:04.800 align:start position:0% the contract until you address it 00:10:04.800 --> 00:10:06.650 align:start position:0% the contract until you address it another<00:10:05.160> thing<00:10:05.399> the<00:10:05.580> sway<00:10:05.760> compiler<00:10:06.240> forces 00:10:06.650 --> 00:10:06.660 align:start position:0% another thing the sway compiler forces 00:10:06.660 --> 00:10:09.050 align:start position:0% another thing the sway compiler forces developers<00:10:07.080> to<00:10:07.320> handle<00:10:07.560> all<00:10:07.920> possible<00:10:08.279> cases 00:10:09.050 --> 00:10:09.060 align:start position:0% developers to handle all possible cases 00:10:09.060 --> 00:10:11.030 align:start position:0% developers to handle all possible cases using<00:10:09.420> enum<00:10:09.779> variants<00:10:10.200> basically<00:10:10.740> what<00:10:10.920> that 00:10:11.030 --> 00:10:11.040 align:start position:0% using enum variants basically what that 00:10:11.040 --> 00:10:12.170 align:start position:0% using enum variants basically what that means<00:10:11.220> is<00:10:11.339> if<00:10:11.459> you've<00:10:11.640> ever<00:10:11.760> written<00:10:12.060> a 00:10:12.170 --> 00:10:12.180 align:start position:0% means is if you've ever written a 00:10:12.180 --> 00:10:14.090 align:start position:0% means is if you've ever written a program<00:10:12.360> to<00:10:12.660> say<00:10:12.839> you<00:10:13.380> know<00:10:13.440> let's<00:10:13.740> just<00:10:13.920> say 00:10:14.090 --> 00:10:14.100 align:start position:0% program to say you know let's just say 00:10:14.100 --> 00:10:16.970 align:start position:0% program to say you know let's just say if<00:10:14.880> the<00:10:15.360> number<00:10:15.480> is<00:10:15.660> above<00:10:15.899> zero<00:10:16.260> do<00:10:16.740> something 00:10:16.970 --> 00:10:16.980 align:start position:0% if the number is above zero do something 00:10:16.980 --> 00:10:19.190 align:start position:0% if the number is above zero do something if<00:10:17.640> it's<00:10:17.820> you<00:10:18.120> know<00:10:18.180> below<00:10:18.480> zero<00:10:18.779> do<00:10:18.959> something 00:10:19.190 --> 00:10:19.200 align:start position:0% if it's you know below zero do something 00:10:19.200 --> 00:10:20.930 align:start position:0% if it's you know below zero do something this<00:10:19.740> way<00:10:19.980> compiler<00:10:20.399> will<00:10:20.580> tell<00:10:20.700> you<00:10:20.760> hey 00:10:20.930 --> 00:10:20.940 align:start position:0% this way compiler will tell you hey 00:10:20.940 --> 00:10:22.490 align:start position:0% this way compiler will tell you hey you've<00:10:21.240> only<00:10:21.360> written<00:10:21.720> code<00:10:21.899> to<00:10:22.140> handle<00:10:22.380> the 00:10:22.490 --> 00:10:22.500 align:start position:0% you've only written code to handle the 00:10:22.500 --> 00:10:24.410 align:start position:0% you've only written code to handle the true<00:10:22.740> case<00:10:22.980> or<00:10:23.459> you've<00:10:23.640> only<00:10:23.760> written<00:10:24.000> code<00:10:24.240> to 00:10:24.410 --> 00:10:24.420 align:start position:0% true case or you've only written code to 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position:0% let you build the contract it won't let you<00:10:28.920> deploy<00:10:29.160> the<00:10:29.279> contract<00:10:29.459> until<00:10:29.700> you 00:10:30.050 --> 00:10:30.060 align:start position:0% you deploy the contract until you 00:10:30.060 --> 00:10:32.329 align:start position:0% you deploy the contract until you address<00:10:30.180> that<00:10:30.480> so<00:10:31.260> the<00:10:31.800> powerful<00:10:31.980> thing<00:10:32.220> about 00:10:32.329 --> 00:10:32.339 align:start position:0% address that so the powerful thing about 00:10:32.339 --> 00:10:34.370 align:start position:0% address that so the powerful thing about this<00:10:32.580> is<00:10:32.760> like<00:10:33.000> you<00:10:33.240> can<00:10:33.360> never<00:10:33.540> have<00:10:33.899> kind<00:10:34.320> of 00:10:34.370 --> 00:10:34.380 align:start position:0% this is like you can never have kind of 00:10:34.380 --> 00:10:35.990 align:start position:0% this is like you can never have kind of an<00:10:34.500> accidental<00:10:34.980> like<00:10:35.100> oops<00:10:35.339> forgot<00:10:35.640> to<00:10:35.820> handle 00:10:35.990 --> 00:10:36.000 align:start position:0% an accidental like oops forgot to handle 00:10:36.000 --> 00:10:37.370 align:start position:0% an accidental like oops forgot to handle that<00:10:36.120> edge<00:10:36.300> case<00:10:36.480> okay<00:10:36.779> we're<00:10:36.959> almost<00:10:37.080> done 00:10:37.370 --> 00:10:37.380 align:start position:0% that edge case okay we're almost done 00:10:37.380 --> 00:10:39.590 align:start position:0% that edge case okay we're almost done finally<00:10:37.800> namespace<00:10:38.339> storage<00:10:38.940> so<00:10:39.300> if<00:10:39.420> you've 00:10:39.590 --> 00:10:39.600 align:start position:0% finally namespace storage so if you've 00:10:39.600 --> 00:10:40.910 align:start position:0% finally namespace storage so if you've ever<00:10:39.720> written<00:10:39.959> contracts<00:10:40.320> and<00:10:40.440> solidity<00:10:40.800> you 00:10:40.910 --> 00:10:40.920 align:start position:0% ever written contracts and solidity you 00:10:40.920 --> 00:10:42.290 align:start position:0% ever written contracts and solidity you know<00:10:41.040> you<00:10:41.160> might<00:10:41.279> have<00:10:41.459> accidentally<00:10:42.000> touched 00:10:42.290 --> 00:10:42.300 align:start position:0% know you might have accidentally touched 00:10:42.300 --> 00:10:43.970 align:start position:0% know you might have accidentally touched storage<00:10:42.420> without<00:10:42.720> knowing<00:10:43.380> it<00:10:43.500> and<00:10:43.860> that 00:10:43.970 --> 00:10:43.980 align:start position:0% storage without knowing it and that 00:10:43.980 --> 00:10:45.889 align:start position:0% storage without knowing it and that could<00:10:44.100> have<00:10:44.279> some<00:10:44.459> unintended<00:10:44.880> consequences 00:10:45.889 --> 00:10:45.899 align:start position:0% could have some unintended consequences 00:10:45.899 --> 00:10:48.230 align:start position:0% could have some unintended consequences so<00:10:46.320> developers<00:10:46.740> in<00:10:46.920> Sway<00:10:47.100> have<00:10:47.519> to<00:10:47.700> Define 00:10:48.230 --> 00:10:48.240 align:start position:0% so developers in Sway have to Define 00:10:48.240 --> 00:10:50.150 align:start position:0% so developers in Sway have to Define what<00:10:48.899> the<00:10:49.019> storage<00:10:49.140> access<00:10:49.500> is<00:10:49.800> for<00:10:49.980> each 00:10:50.150 --> 00:10:50.160 align:start position:0% what the storage access is for each 00:10:50.160 --> 00:10:51.230 align:start position:0% what the storage access is for each function<00:10:50.399> and<00:10:50.519> this<00:10:50.640> is<00:10:50.760> what<00:10:50.880> it<00:10:51.000> looks<00:10:51.180> like 00:10:51.230 --> 00:10:51.240 align:start position:0% function and this is what it looks like 00:10:51.240 --> 00:10:52.670 align:start position:0% function and this is what it looks like you<00:10:51.360> do<00:10:51.540> these<00:10:51.720> annotations<00:10:52.079> that<00:10:52.320> say<00:10:52.500> Hey 00:10:52.670 --> 00:10:52.680 align:start position:0% you do these annotations that say Hey 00:10:52.680 --> 00:10:54.650 align:start position:0% you do these annotations that say Hey this<00:10:52.920> function<00:10:53.160> can<00:10:53.339> read<00:10:53.579> storage<00:10:54.240> and<00:10:54.540> write 00:10:54.650 --> 00:10:54.660 align:start position:0% this function can read storage and write 00:10:54.660 --> 00:10:56.449 align:start position:0% this function can read storage and write storage<00:10:54.959> or<00:10:55.200> maybe<00:10:55.380> it<00:10:55.500> can<00:10:55.620> only<00:10:55.800> read<00:10:55.980> or 00:10:56.449 --> 00:10:56.459 align:start position:0% storage or maybe it can only read or 00:10:56.459 --> 00:10:58.009 align:start position:0% storage or maybe it can only read or maybe<00:10:56.579> it<00:10:56.700> can<00:10:56.880> only<00:10:57.000> write<00:10:57.180> and<00:10:57.720> what<00:10:57.839> that 00:10:58.009 --> 00:10:58.019 align:start position:0% maybe it can only write and what that 00:10:58.019 --> 00:10:59.509 align:start position:0% maybe it can only write and what that does<00:10:58.200> is<00:10:58.440> that<00:10:58.620> it's<00:10:58.800> first<00:10:59.040> of<00:10:59.160> all<00:10:59.279> it's<00:10:59.339> very 00:10:59.509 --> 00:10:59.519 align:start position:0% does is that it's first of all it's very 00:10:59.519 --> 00:11:00.949 align:start position:0% does is that it's first of all it's very clear<00:10:59.640> to<00:10:59.820> developers<00:11:00.240> who<00:11:00.420> are<00:11:00.540> writing<00:11:00.839> the 00:11:00.949 --> 00:11:00.959 align:start position:0% clear to developers who are writing the 00:11:00.959 --> 00:11:02.269 align:start position:0% clear to developers who are writing the program<00:11:01.140> it's<00:11:01.440> very<00:11:01.560> clear<00:11:01.740> to<00:11:01.920> developers 00:11:02.269 --> 00:11:02.279 align:start position:0% program it's very clear to developers 00:11:02.279 --> 00:11:04.069 align:start position:0% program it's very clear to developers who<00:11:02.399> are<00:11:02.579> using<00:11:02.820> a<00:11:02.940> library<00:11:03.120> but<00:11:03.779> at<00:11:03.899> the<00:11:04.019> end 00:11:04.069 --> 00:11:04.079 align:start position:0% who are using a library but at the end 00:11:04.079 --> 00:11:05.569 align:start position:0% who are using a library but at the end of<00:11:04.140> the<00:11:04.200> day<00:11:04.320> it's<00:11:04.440> very<00:11:04.620> clear<00:11:04.800> to<00:11:04.980> users<00:11:05.339> who 00:11:05.569 --> 00:11:05.579 align:start position:0% of the day it's very clear to users who 00:11:05.579 --> 00:11:06.650 align:start position:0% of the day it's very clear to users who actually<00:11:05.760> don't<00:11:06.000> have<00:11:06.120> to<00:11:06.240> know<00:11:06.360> what's<00:11:06.480> going 00:11:06.650 --> 00:11:06.660 align:start position:0% actually don't have to know what's going 00:11:06.660 --> 00:11:08.569 align:start position:0% actually don't have to know what's going on<00:11:06.779> it's<00:11:07.019> abstracted<00:11:07.500> out<00:11:07.680> obviously<00:11:08.100> but 00:11:08.569 --> 00:11:08.579 align:start position:0% on it's abstracted out obviously but 00:11:08.579 --> 00:11:09.829 align:start position:0% on it's abstracted out obviously but they'll<00:11:08.820> never<00:11:09.000> accidentally<00:11:09.540> access 00:11:09.829 --> 00:11:09.839 align:start position:0% they'll never accidentally access 00:11:09.839 --> 00:11:11.449 align:start position:0% they'll never accidentally access storage<00:11:10.200> and<00:11:10.500> never<00:11:10.680> accidentally<00:11:11.160> cause 00:11:11.449 --> 00:11:11.459 align:start position:0% storage and never accidentally cause 00:11:11.459 --> 00:11:13.970 align:start position:0% storage and never accidentally cause unintended<00:11:12.060> consequences<00:11:12.540> in<00:11:12.839> your<00:11:12.959> program 00:11:13.970 --> 00:11:13.980 align:start position:0% unintended consequences in your program 00:11:13.980 --> 00:11:15.829 align:start position:0% unintended consequences in your program and<00:11:14.519> here<00:11:14.640> is<00:11:14.820> a<00:11:14.940> link<00:11:15.000> to<00:11:15.180> the<00:11:15.300> blog<00:11:15.480> post<00:11:15.600> that 00:11:15.829 --> 00:11:15.839 align:start position:0% and here is a link to the blog post that 00:11:15.839 --> 00:11:16.910 align:start position:0% and here is a link to the blog post that I<00:11:15.899> wrote<00:11:16.019> where<00:11:16.200> you<00:11:16.320> can<00:11:16.440> see<00:11:16.500> all<00:11:16.680> of<00:11:16.800> the 00:11:16.910 --> 00:11:16.920 align:start position:0% I wrote where you can see all of the 00:11:16.920 --> 00:11:19.250 align:start position:0% I wrote where you can see all of the sources<00:11:17.220> cited<00:11:17.640> read<00:11:18.180> everything<00:11:18.480> in<00:11:19.019> long 00:11:19.250 --> 00:11:19.260 align:start position:0% sources cited read everything in long 00:11:19.260 --> 00:11:21.889 align:start position:0% sources cited read everything in long form<00:11:19.640> and<00:11:20.640> yeah<00:11:21.060> I'll<00:11:21.240> leave<00:11:21.360> that<00:11:21.540> up<00:11:21.660> for<00:11:21.779> a 00:11:21.889 --> 00:11:21.899 align:start position:0% form and yeah I'll leave that up for a 00:11:21.899 --> 00:11:23.210 align:start position:0% form and yeah I'll leave that up for a second 00:11:23.210 --> 00:11:23.220 align:start position:0% second 00:11:23.220 --> 00:11:25.880 align:start position:0% second thank<00:11:23.700> you