WEBVTT Kind: captions Language: en 00:00:00.000 --> 00:00:04.350 align:start position:0% foreign 00:00:04.350 --> 00:00:04.360 align:start position:0% 00:00:04.360 --> 00:00:15.049 align:start position:0% [Music] 00:00:15.049 --> 00:00:15.059 align:start position:0% 00:00:15.059 --> 00:00:16.910 align:start position:0% awesome<00:00:15.719> but<00:00:16.139> that's<00:00:16.440> a<00:00:16.560> little<00:00:16.619> too<00:00:16.800> much 00:00:16.910 --> 00:00:16.920 align:start position:0% awesome but that's a little too much 00:00:16.920 --> 00:00:18.950 align:start position:0% awesome but that's a little too much okay<00:00:17.160> don't<00:00:17.460> don't<00:00:17.640> get<00:00:17.880> too<00:00:18.000> excited 00:00:18.950 --> 00:00:18.960 align:start position:0% okay don't don't get too excited 00:00:18.960 --> 00:00:21.950 align:start position:0% okay don't don't get too excited I<00:00:19.380> wasn't<00:00:19.440> kidding<00:00:19.920> about<00:00:20.100> the<00:00:20.580> oxygen<00:00:21.000> there 00:00:21.950 --> 00:00:21.960 align:start position:0% I wasn't kidding about the oxygen there 00:00:21.960 --> 00:00:24.710 align:start position:0% I wasn't kidding about the oxygen there is<00:00:22.199> a<00:00:22.980> sensor<00:00:23.340> there<00:00:23.520> that's<00:00:24.359> literally 00:00:24.710 --> 00:00:24.720 align:start position:0% is a sensor there that's literally 00:00:24.720 --> 00:00:27.230 align:start position:0% is a sensor there that's literally measuring<00:00:25.140> a<00:00:25.320> CO2<00:00:25.680> in<00:00:25.920> this<00:00:26.039> room<00:00:26.220> if<00:00:27.000> you<00:00:27.119> get 00:00:27.230 --> 00:00:27.240 align:start position:0% measuring a CO2 in this room if you get 00:00:27.240 --> 00:00:29.330 align:start position:0% measuring a CO2 in this room if you get too<00:00:27.420> excited<00:00:27.840> we<00:00:28.019> might<00:00:28.199> suffocate 00:00:29.330 --> 00:00:29.340 align:start position:0% too excited we might suffocate 00:00:29.340 --> 00:00:32.150 align:start position:0% too excited we might suffocate I'm<00:00:29.640> Andrew<00:00:29.820> vizieri<00:00:31.019> I<00:00:31.619> work<00:00:31.859> at<00:00:32.040> give 00:00:32.150 --> 00:00:32.160 align:start position:0% I'm Andrew vizieri I work at give 00:00:32.160 --> 00:00:33.950 align:start position:0% I'm Andrew vizieri I work at give directly<00:00:32.460> I'm<00:00:32.579> on<00:00:32.700> the<00:00:32.820> Innovation<00:00:33.059> team 00:00:33.950 --> 00:00:33.960 align:start position:0% directly I'm on the Innovation team 00:00:33.960 --> 00:00:36.049 align:start position:0% directly I'm on the Innovation team and<00:00:34.920> this<00:00:35.040> is<00:00:35.160> the<00:00:35.340> presentation<00:00:35.700> lessons 00:00:36.049 --> 00:00:36.059 align:start position:0% and this is the presentation lessons 00:00:36.059 --> 00:00:38.330 align:start position:0% and this is the presentation lessons from<00:00:36.239> the<00:00:36.360> field<00:00:36.540> threat<00:00:37.500> modeling<00:00:37.920> for<00:00:38.219> the 00:00:38.330 --> 00:00:38.340 align:start position:0% from the field threat modeling for the 00:00:38.340 --> 00:00:40.670 align:start position:0% from the field threat modeling for the everyday<00:00:38.460> use<00:00:38.820> of<00:00:39.000> digital<00:00:39.239> currency<00:00:39.680> before 00:00:40.670 --> 00:00:40.680 align:start position:0% everyday use of digital currency before 00:00:40.680 --> 00:00:43.670 align:start position:0% everyday use of digital currency before we<00:00:40.920> talk<00:00:41.100> about<00:00:41.280> the<00:00:42.320> presentation<00:00:43.320> though<00:00:43.559> I 00:00:43.670 --> 00:00:43.680 align:start position:0% we talk about the presentation though I 00:00:43.680 --> 00:00:45.470 align:start position:0% we talk about the presentation though I want<00:00:43.860> to<00:00:43.920> take<00:00:44.040> a<00:00:44.160> step<00:00:44.280> back<00:00:44.520> and<00:00:44.940> ask<00:00:45.059> why<00:00:45.300> are 00:00:45.470 --> 00:00:45.480 align:start position:0% want to take a step back and ask why are 00:00:45.480 --> 00:00:49.790 align:start position:0% want to take a step back and ask why are we<00:00:45.660> here<00:00:46.320> at<00:00:46.860> Devcon<00:00:47.280> this<00:00:48.239> was<00:00:48.480> the<00:00:49.079> topic 00:00:49.790 --> 00:00:49.800 align:start position:0% we here at Devcon this was the topic 00:00:49.800 --> 00:00:51.770 align:start position:0% we here at Devcon this was the topic that<00:00:50.280> was<00:00:50.399> first<00:00:50.579> brought<00:00:50.879> up<00:00:51.000> yesterday<00:00:51.300> at 00:00:51.770 --> 00:00:51.780 align:start position:0% that was first brought up yesterday at 00:00:51.780 --> 00:00:53.450 align:start position:0% that was first brought up yesterday at the<00:00:51.899> kickoff<00:00:52.200> on<00:00:52.440> this<00:00:52.620> stage 00:00:53.450 --> 00:00:53.460 align:start position:0% the kickoff on this stage 00:00:53.460 --> 00:00:56.450 align:start position:0% the kickoff on this stage why<00:00:54.120> South<00:00:54.420> America<00:00:54.600> why<00:00:54.960> Bogota 00:00:56.450 --> 00:00:56.460 align:start position:0% why South America why Bogota 00:00:56.460 --> 00:00:58.790 align:start position:0% why South America why Bogota because<00:00:56.940> ethereum<00:00:57.539> is<00:00:57.719> for<00:00:57.899> everyone<00:00:58.079> it's 00:00:58.790 --> 00:00:58.800 align:start position:0% because ethereum is for everyone it's 00:00:58.800 --> 00:01:00.770 align:start position:0% because ethereum is for everyone it's not<00:00:58.980> just<00:00:59.160> for<00:00:59.460> financial<00:00:59.640> capitals<00:01:00.360> it's<00:01:00.600> not 00:01:00.770 --> 00:01:00.780 align:start position:0% not just for financial capitals it's not 00:01:00.780 --> 00:01:02.990 align:start position:0% not just for financial capitals it's not just<00:01:01.020> for<00:01:01.379> the<00:01:01.980> most<00:01:02.039> comfortable<00:01:02.399> developed 00:01:02.990 --> 00:01:03.000 align:start position:0% just for the most comfortable developed 00:01:03.000 --> 00:01:06.890 align:start position:0% just for the most comfortable developed places<00:01:03.379> it's<00:01:04.379> for<00:01:04.680> people<00:01:05.040> who<00:01:05.519> are<00:01:05.700> uh 00:01:06.890 --> 00:01:06.900 align:start position:0% places it's for people who are uh 00:01:06.900 --> 00:01:09.350 align:start position:0% places it's for people who are uh still<00:01:07.380> in<00:01:07.560> places<00:01:07.799> where<00:01:08.280> they<00:01:09.060> might<00:01:09.180> not 00:01:09.350 --> 00:01:09.360 align:start position:0% still in places where they might not 00:01:09.360 --> 00:01:10.850 align:start position:0% still in places where they might not have<00:01:09.540> Financial<00:01:09.780> inclusion<00:01:10.380> there<00:01:10.560> might<00:01:10.740> be 00:01:10.850 --> 00:01:10.860 align:start position:0% have Financial inclusion there might be 00:01:10.860 --> 00:01:13.070 align:start position:0% have Financial inclusion there might be more<00:01:11.040> corruption<00:01:11.659> there<00:01:12.659> might<00:01:12.780> be<00:01:12.900> more 00:01:13.070 --> 00:01:13.080 align:start position:0% more corruption there might be more 00:01:13.080 --> 00:01:16.070 align:start position:0% more corruption there might be more censorship<00:01:13.640> and<00:01:14.640> those<00:01:15.360> are<00:01:15.479> the<00:01:15.600> people<00:01:15.780> who 00:01:16.070 --> 00:01:16.080 align:start position:0% censorship and those are the people who 00:01:16.080 --> 00:01:18.370 align:start position:0% censorship and those are the people who really<00:01:16.260> have<00:01:16.439> the<00:01:16.680> most<00:01:16.799> to<00:01:16.979> gain<00:01:17.159> from 00:01:18.370 --> 00:01:18.380 align:start position:0% really have the most to gain from 00:01:18.380 --> 00:01:21.170 align:start position:0% really have the most to gain from using<00:01:19.380> ethereum<00:01:19.860> give<00:01:20.280> directly<00:01:20.700> sends<00:01:21.060> cash 00:01:21.170 --> 00:01:21.180 align:start position:0% using ethereum give directly sends cash 00:01:21.180 --> 00:01:23.210 align:start position:0% using ethereum give directly sends cash directly<00:01:21.600> to<00:01:21.780> people<00:01:21.900> in<00:01:22.140> poverty<00:01:22.619> poverty 00:01:23.210 --> 00:01:23.220 align:start position:0% directly to people in poverty poverty 00:01:23.220 --> 00:01:25.550 align:start position:0% directly to people in poverty poverty the<00:01:23.460> kind<00:01:23.580> of<00:01:23.700> people<00:01:23.939> who<00:01:24.479> are<00:01:25.080> in<00:01:25.380> those 00:01:25.550 --> 00:01:25.560 align:start position:0% the kind of people who are in those 00:01:25.560 --> 00:01:28.190 align:start position:0% the kind of people who are in those settings<00:01:25.880> we've<00:01:26.880> reached<00:01:27.420> over<00:01:27.780> a<00:01:27.960> million 00:01:28.190 --> 00:01:28.200 align:start position:0% settings we've reached over a million 00:01:28.200 --> 00:01:30.350 align:start position:0% settings we've reached over a million recipients<00:01:28.799> we've<00:01:29.400> raised<00:01:29.759> nearly<00:01:29.939> a<00:01:30.060> billion 00:01:30.350 --> 00:01:30.360 align:start position:0% recipients we've raised nearly a billion 00:01:30.360 --> 00:01:32.570 align:start position:0% recipients we've raised nearly a billion dollars<00:01:30.659> we<00:01:31.020> work<00:01:31.259> in<00:01:31.920> more<00:01:32.100> than<00:01:32.220> a<00:01:32.340> dozen 00:01:32.570 --> 00:01:32.580 align:start position:0% dollars we work in more than a dozen 00:01:32.580 --> 00:01:35.210 align:start position:0% dollars we work in more than a dozen countries<00:01:33.000> and<00:01:33.840> we've<00:01:34.080> had<00:01:34.320> some<00:01:34.680> of<00:01:34.979> the 00:01:35.210 --> 00:01:35.220 align:start position:0% countries and we've had some of the 00:01:35.220 --> 00:01:37.010 align:start position:0% countries and we've had some of the greatest<00:01:35.340> Partnerships<00:01:36.000> that<00:01:36.420> that<00:01:36.659> you<00:01:36.840> can 00:01:37.010 --> 00:01:37.020 align:start position:0% greatest Partnerships that that you can 00:01:37.020 --> 00:01:39.469 align:start position:0% greatest Partnerships that that you can in<00:01:37.200> the<00:01:37.380> development<00:01:37.619> and<00:01:37.860> Aid<00:01:38.159> space<00:01:38.479> and 00:01:39.469 --> 00:01:39.479 align:start position:0% in the development and Aid space and 00:01:39.479 --> 00:01:41.810 align:start position:0% in the development and Aid space and that<00:01:39.600> has<00:01:39.840> really<00:01:40.079> been<00:01:40.860> made<00:01:41.040> possible<00:01:41.400> by 00:01:41.810 --> 00:01:41.820 align:start position:0% that has really been made possible by 00:01:41.820 --> 00:01:43.969 align:start position:0% that has really been made possible by our<00:01:42.000> approach<00:01:42.360> giving<00:01:43.079> people<00:01:43.320> cash<00:01:43.619> is 00:01:43.969 --> 00:01:43.979 align:start position:0% our approach giving people cash is 00:01:43.979 --> 00:01:45.770 align:start position:0% our approach giving people cash is really<00:01:44.159> simple<00:01:44.400> right 00:01:45.770 --> 00:01:45.780 align:start position:0% really simple right 00:01:45.780 --> 00:01:47.390 align:start position:0% really simple right if<00:01:46.259> you<00:01:46.380> want<00:01:46.500> to<00:01:46.680> financially<00:01:46.979> include 00:01:47.390 --> 00:01:47.400 align:start position:0% if you want to financially include 00:01:47.400 --> 00:01:49.850 align:start position:0% if you want to financially include someone<00:01:47.640> financially<00:01:48.299> include<00:01:48.720> them<00:01:48.900> I<00:01:49.740> think 00:01:49.850 --> 00:01:49.860 align:start position:0% someone financially include them I think 00:01:49.860 --> 00:01:51.530 align:start position:0% someone financially include them I think this<00:01:50.159> really<00:01:50.340> brings<00:01:51.000> me<00:01:51.180> back<00:01:51.360> to 00:01:51.530 --> 00:01:51.540 align:start position:0% this really brings me back to 00:01:51.540 --> 00:01:53.929 align:start position:0% this really brings me back to yesterday's<00:01:52.020> talk<00:01:52.200> about<00:01:52.439> subtraction<00:01:52.979> about 00:01:53.929 --> 00:01:53.939 align:start position:0% yesterday's talk about subtraction about 00:01:53.939 --> 00:01:55.850 align:start position:0% yesterday's talk about subtraction about keeping<00:01:54.540> things<00:01:54.720> working<00:01:55.020> very<00:01:55.320> hard<00:01:55.500> to<00:01:55.740> keep 00:01:55.850 --> 00:01:55.860 align:start position:0% keeping things working very hard to keep 00:01:55.860 --> 00:01:58.010 align:start position:0% keeping things working very hard to keep things<00:01:56.100> simple<00:01:56.399> and<00:01:56.640> effective<00:01:57.060> it's<00:01:57.840> really 00:01:58.010 --> 00:01:58.020 align:start position:0% things simple and effective it's really 00:01:58.020 --> 00:02:00.770 align:start position:0% things simple and effective it's really easy<00:01:58.259> and<00:01:58.500> charity<00:01:58.860> to<00:01:59.399> say<00:02:00.299> we're<00:02:00.540> going<00:02:00.720> to 00:02:00.770 --> 00:02:00.780 align:start position:0% easy and charity to say we're going to 00:02:00.780 --> 00:02:02.330 align:start position:0% easy and charity to say we're going to get<00:02:00.899> the<00:02:01.020> best<00:02:01.200> experts<00:02:01.799> we're<00:02:02.040> going<00:02:02.220> to 00:02:02.330 --> 00:02:02.340 align:start position:0% get the best experts we're going to 00:02:02.340 --> 00:02:04.569 align:start position:0% get the best experts we're going to decide<00:02:02.640> exactly<00:02:03.180> what<00:02:03.479> people<00:02:03.659> need 00:02:04.569 --> 00:02:04.579 align:start position:0% decide exactly what people need 00:02:04.579 --> 00:02:06.590 align:start position:0% decide exactly what people need and<00:02:05.579> I<00:02:05.939> think<00:02:06.000> it's<00:02:06.119> a<00:02:06.299> little<00:02:06.360> bit<00:02:06.479> more 00:02:06.590 --> 00:02:06.600 align:start position:0% and I think it's a little bit more 00:02:06.600 --> 00:02:08.690 align:start position:0% and I think it's a little bit more respectful<00:02:07.079> and<00:02:07.500> in<00:02:07.680> fact<00:02:07.860> it's<00:02:08.280> been<00:02:08.459> proven 00:02:08.690 --> 00:02:08.700 align:start position:0% respectful and in fact it's been proven 00:02:08.700 --> 00:02:10.910 align:start position:0% respectful and in fact it's been proven to<00:02:08.880> be<00:02:09.000> more<00:02:09.119> effective<00:02:09.539> to<00:02:10.319> give<00:02:10.440> them<00:02:10.619> cash 00:02:10.910 --> 00:02:10.920 align:start position:0% to be more effective to give them cash 00:02:10.920 --> 00:02:12.710 align:start position:0% to be more effective to give them cash because<00:02:11.580> they<00:02:11.940> know<00:02:12.060> what<00:02:12.360> they<00:02:12.540> actually 00:02:12.710 --> 00:02:12.720 align:start position:0% because they know what they actually 00:02:12.720 --> 00:02:14.570 align:start position:0% because they know what they actually need<00:02:13.080> so<00:02:13.560> let's<00:02:13.739> talk<00:02:13.920> a<00:02:14.099> little<00:02:14.160> bit<00:02:14.340> about 00:02:14.570 --> 00:02:14.580 align:start position:0% need so let's talk a little bit about 00:02:14.580 --> 00:02:16.670 align:start position:0% need so let's talk a little bit about our<00:02:14.940> approach<00:02:15.300> and<00:02:15.720> at<00:02:15.840> give<00:02:16.080> directly<00:02:16.440> our 00:02:16.670 --> 00:02:16.680 align:start position:0% our approach and at give directly our 00:02:16.680 --> 00:02:18.650 align:start position:0% our approach and at give directly our approach<00:02:17.099> always<00:02:17.459> starts<00:02:17.879> with<00:02:18.060> recipients 00:02:18.650 --> 00:02:18.660 align:start position:0% approach always starts with recipients 00:02:18.660 --> 00:02:19.550 align:start position:0% approach always starts with recipients first 00:02:19.550 --> 00:02:19.560 align:start position:0% first 00:02:19.560 --> 00:02:22.430 align:start position:0% first so<00:02:20.220> what<00:02:20.640> does<00:02:20.760> a<00:02:20.940> recipient<00:02:21.300> look<00:02:21.599> like<00:02:21.780> this 00:02:22.430 --> 00:02:22.440 align:start position:0% so what does a recipient look like this 00:02:22.440 --> 00:02:26.150 align:start position:0% so what does a recipient look like this is<00:02:22.560> Liz<00:02:22.860> a<00:02:23.220> Uma<00:02:23.400> she's<00:02:23.879> from<00:02:24.239> kibera<00:02:24.959> Kenya<00:02:25.680> and 00:02:26.150 --> 00:02:26.160 align:start position:0% is Liz a Uma she's from kibera Kenya and 00:02:26.160 --> 00:02:27.710 align:start position:0% is Liz a Uma she's from kibera Kenya and that's<00:02:26.340> her<00:02:26.520> house<00:02:26.700> on<00:02:26.940> the<00:02:27.060> left<00:02:27.180> so<00:02:27.540> this 00:02:27.710 --> 00:02:27.720 align:start position:0% that's her house on the left so this 00:02:27.720 --> 00:02:30.170 align:start position:0% that's her house on the left so this house<00:02:27.959> you<00:02:28.260> can<00:02:28.440> see<00:02:28.560> it's<00:02:28.800> very<00:02:29.099> modest<00:02:29.459> it's 00:02:30.170 --> 00:02:30.180 align:start position:0% house you can see it's very modest it's 00:02:30.180 --> 00:02:31.309 align:start position:0% house you can see it's very modest it's made<00:02:30.360> out<00:02:30.540> of<00:02:30.660> a<00:02:30.780> whole<00:02:30.900> bunch<00:02:31.020> of<00:02:31.140> different 00:02:31.309 --> 00:02:31.319 align:start position:0% made out of a whole bunch of different 00:02:31.319 --> 00:02:34.010 align:start position:0% made out of a whole bunch of different materials<00:02:31.860> whatever<00:02:32.160> she<00:02:32.640> had<00:02:32.819> on<00:02:33.000> hand<00:02:33.180> it 00:02:34.010 --> 00:02:34.020 align:start position:0% materials whatever she had on hand it 00:02:34.020 --> 00:02:35.630 align:start position:0% materials whatever she had on hand it probably<00:02:34.200> doesn't<00:02:34.500> have<00:02:34.680> a<00:02:34.860> door<00:02:34.980> that<00:02:35.220> locks 00:02:35.630 --> 00:02:35.640 align:start position:0% probably doesn't have a door that locks 00:02:35.640 --> 00:02:37.190 align:start position:0% probably doesn't have a door that locks it<00:02:36.060> probably<00:02:36.180> doesn't<00:02:36.420> have<00:02:36.660> Windows<00:02:37.020> that 00:02:37.190 --> 00:02:37.200 align:start position:0% it probably doesn't have Windows that 00:02:37.200 --> 00:02:39.470 align:start position:0% it probably doesn't have Windows that close<00:02:37.440> but<00:02:37.980> Liz<00:02:38.280> does<00:02:38.520> have<00:02:38.700> some<00:02:39.000> access<00:02:39.180> to 00:02:39.470 --> 00:02:39.480 align:start position:0% close but Liz does have some access to 00:02:39.480 --> 00:02:40.670 align:start position:0% close but Liz does have some access to technology 00:02:40.670 --> 00:02:40.680 align:start position:0% technology 00:02:40.680 --> 00:02:42.710 align:start position:0% technology specifically<00:02:41.400> she<00:02:41.760> might<00:02:41.940> have<00:02:42.180> what's 00:02:42.710 --> 00:02:42.720 align:start position:0% specifically she might have what's 00:02:42.720 --> 00:02:45.229 align:start position:0% specifically she might have what's called<00:02:43.019> a<00:02:43.260> feature<00:02:43.560> phone<00:02:44.000> if<00:02:45.000> you're<00:02:45.120> old 00:02:45.229 --> 00:02:45.239 align:start position:0% called a feature phone if you're old 00:02:45.239 --> 00:02:46.670 align:start position:0% called a feature phone if you're old enough<00:02:45.420> you<00:02:45.660> might<00:02:45.780> have<00:02:45.900> had<00:02:46.080> one<00:02:46.200> maybe<00:02:46.440> you 00:02:46.670 --> 00:02:46.680 align:start position:0% enough you might have had one maybe you 00:02:46.680 --> 00:02:47.630 align:start position:0% enough you might have had one maybe you skipped<00:02:46.920> that<00:02:47.040> you<00:02:47.220> went<00:02:47.340> right<00:02:47.519> to 00:02:47.630 --> 00:02:47.640 align:start position:0% skipped that you went right to 00:02:47.640 --> 00:02:49.430 align:start position:0% skipped that you went right to smartphones<00:02:48.060> but<00:02:48.720> this<00:02:48.840> is<00:02:48.959> a<00:02:49.140> very<00:02:49.260> simple 00:02:49.430 --> 00:02:49.440 align:start position:0% smartphones but this is a very simple 00:02:49.440 --> 00:02:52.850 align:start position:0% smartphones but this is a very simple phone<00:02:49.739> you<00:02:50.580> can<00:02:50.640> make<00:02:50.819> calls<00:02:51.239> you<00:02:52.140> can<00:02:52.260> send 00:02:52.850 --> 00:02:52.860 align:start position:0% phone you can make calls you can send 00:02:52.860 --> 00:02:56.690 align:start position:0% phone you can make calls you can send SMS<00:02:53.400> and<00:02:54.180> you<00:02:54.300> can<00:02:54.420> use<00:02:54.599> ussd<00:02:55.440> now<00:02:56.280> that<00:02:56.580> third 00:02:56.690 --> 00:02:56.700 align:start position:0% SMS and you can use ussd now that third 00:02:56.700 --> 00:02:58.910 align:start position:0% SMS and you can use ussd now that third one<00:02:56.879> might<00:02:57.060> be<00:02:57.239> less<00:02:57.360> familiar<00:02:57.840> this<00:02:58.500> is<00:02:58.620> when 00:02:58.910 --> 00:02:58.920 align:start position:0% one might be less familiar this is when 00:02:58.920 --> 00:03:00.290 align:start position:0% one might be less familiar this is when you<00:02:59.040> can<00:02:59.099> go<00:02:59.280> through<00:02:59.400> a<00:02:59.640> series<00:02:59.760> of<00:02:59.940> menus 00:03:00.290 --> 00:03:00.300 align:start position:0% you can go through a series of menus 00:03:00.300 --> 00:03:02.990 align:start position:0% you can go through a series of menus where<00:03:01.080> the<00:03:01.260> app<00:03:01.440> is<00:03:01.620> being<00:03:01.860> served<00:03:02.280> on<00:03:02.879> the 00:03:02.990 --> 00:03:03.000 align:start position:0% where the app is being served on the 00:03:03.000 --> 00:03:04.910 align:start position:0% where the app is being served on the other<00:03:03.060> end<00:03:03.239> by<00:03:03.599> your<00:03:03.780> Telco<00:03:04.140> so<00:03:04.560> you<00:03:04.739> could<00:03:04.800> go 00:03:04.910 --> 00:03:04.920 align:start position:0% other end by your Telco so you could go 00:03:04.920 --> 00:03:06.710 align:start position:0% other end by your Telco so you could go through<00:03:05.099> those<00:03:05.280> menus<00:03:05.640> and<00:03:05.940> you<00:03:06.060> could<00:03:06.239> see 00:03:06.710 --> 00:03:06.720 align:start position:0% through those menus and you could see 00:03:06.720 --> 00:03:08.530 align:start position:0% through those menus and you could see how<00:03:06.900> much<00:03:07.019> air<00:03:07.200> time<00:03:07.440> you<00:03:07.620> have<00:03:07.739> left<00:03:07.920> top<00:03:08.280> up 00:03:08.530 --> 00:03:08.540 align:start position:0% how much air time you have left top up 00:03:08.540 --> 00:03:11.149 align:start position:0% how much air time you have left top up basic<00:03:09.540> things<00:03:09.720> so<00:03:10.200> in<00:03:10.440> her<00:03:10.560> setting<00:03:10.800> she<00:03:10.980> might 00:03:11.149 --> 00:03:11.159 align:start position:0% basic things so in her setting she might 00:03:11.159 --> 00:03:13.009 align:start position:0% basic things so in her setting she might not<00:03:11.340> have<00:03:11.580> reliable<00:03:12.060> access<00:03:12.239> to<00:03:12.480> electricity 00:03:13.009 --> 00:03:13.019 align:start position:0% not have reliable access to electricity 00:03:13.019 --> 00:03:15.530 align:start position:0% not have reliable access to electricity it<00:03:13.620> truly<00:03:13.860> does<00:03:14.040> make<00:03:14.280> sense<00:03:14.519> for<00:03:15.180> her<00:03:15.300> to<00:03:15.420> have 00:03:15.530 --> 00:03:15.540 align:start position:0% it truly does make sense for her to have 00:03:15.540 --> 00:03:17.509 align:start position:0% it truly does make sense for her to have a<00:03:15.659> phone<00:03:15.780> like<00:03:16.080> a<00:03:16.260> feature<00:03:16.500> phone<00:03:16.680> that<00:03:17.159> can 00:03:17.509 --> 00:03:17.519 align:start position:0% a phone like a feature phone that can 00:03:17.519 --> 00:03:19.070 align:start position:0% a phone like a feature phone that can last<00:03:17.700> for<00:03:18.000> many<00:03:18.180> days<00:03:18.420> without<00:03:18.720> being 00:03:19.070 --> 00:03:19.080 align:start position:0% last for many days without being 00:03:19.080 --> 00:03:20.809 align:start position:0% last for many days without being recharged<00:03:19.620> and<00:03:19.980> we<00:03:20.159> want<00:03:20.280> to<00:03:20.400> meet<00:03:20.519> people 00:03:20.809 --> 00:03:20.819 align:start position:0% recharged and we want to meet people 00:03:20.819 --> 00:03:22.550 align:start position:0% recharged and we want to meet people where<00:03:21.120> they<00:03:21.300> are<00:03:21.480> when<00:03:21.900> we're<00:03:22.080> trying<00:03:22.260> to<00:03:22.440> help 00:03:22.550 --> 00:03:22.560 align:start position:0% where they are when we're trying to help 00:03:22.560 --> 00:03:24.770 align:start position:0% where they are when we're trying to help them<00:03:22.800> and<00:03:23.220> so<00:03:23.459> when<00:03:23.879> we<00:03:24.000> look<00:03:24.120> at<00:03:24.300> our<00:03:24.480> process 00:03:24.770 --> 00:03:24.780 align:start position:0% them and so when we look at our process 00:03:24.780 --> 00:03:26.869 align:start position:0% them and so when we look at our process we<00:03:25.319> have<00:03:25.379> four<00:03:25.620> steps<00:03:26.040> and<00:03:26.220> each<00:03:26.459> one<00:03:26.640> of<00:03:26.760> them 00:03:26.869 --> 00:03:26.879 align:start position:0% we have four steps and each one of them 00:03:26.879 --> 00:03:30.410 align:start position:0% we have four steps and each one of them is<00:03:27.480> designed<00:03:27.959> to<00:03:28.319> meet<00:03:29.159> the<00:03:29.340> recipient<00:03:29.760> in 00:03:30.410 --> 00:03:30.420 align:start position:0% is designed to meet the recipient in 00:03:30.420 --> 00:03:32.390 align:start position:0% is designed to meet the recipient in their<00:03:30.540> environment<00:03:30.959> Target<00:03:31.440> enroll<00:03:31.920> transfer 00:03:32.390 --> 00:03:32.400 align:start position:0% their environment Target enroll transfer 00:03:32.400 --> 00:03:35.030 align:start position:0% their environment Target enroll transfer monitor<00:03:32.819> so<00:03:33.420> what<00:03:33.540> is<00:03:33.720> Target<00:03:33.900> targeting<00:03:34.739> is 00:03:35.030 --> 00:03:35.040 align:start position:0% monitor so what is Target targeting is 00:03:35.040 --> 00:03:36.410 align:start position:0% monitor so what is Target targeting is of<00:03:35.159> course<00:03:35.280> to<00:03:35.519> figure<00:03:35.640> out<00:03:35.879> who<00:03:36.120> is<00:03:36.239> in 00:03:36.410 --> 00:03:36.420 align:start position:0% of course to figure out who is in 00:03:36.420 --> 00:03:37.970 align:start position:0% of course to figure out who is in extreme<00:03:36.659> poverty<00:03:37.080> who<00:03:37.260> could<00:03:37.440> benefit<00:03:37.620> from 00:03:37.970 --> 00:03:37.980 align:start position:0% extreme poverty who could benefit from 00:03:37.980 --> 00:03:39.770 align:start position:0% extreme poverty who could benefit from this<00:03:38.159> or<00:03:38.819> in<00:03:38.940> some<00:03:39.060> cases<00:03:39.300> if<00:03:39.480> we're<00:03:39.599> doing 00:03:39.770 --> 00:03:39.780 align:start position:0% this or in some cases if we're doing 00:03:39.780 --> 00:03:42.110 align:start position:0% this or in some cases if we're doing humanitarian<00:03:40.379> work<00:03:40.799> who's<00:03:41.280> been<00:03:41.519> affected<00:03:41.879> by 00:03:42.110 --> 00:03:42.120 align:start position:0% humanitarian work who's been affected by 00:03:42.120 --> 00:03:45.530 align:start position:0% humanitarian work who's been affected by the<00:03:42.299> most<00:03:42.360> recent<00:03:42.659> flood<00:03:43.019> or<00:03:43.560> what<00:03:44.400> area<00:03:44.580> needs 00:03:45.530 --> 00:03:45.540 align:start position:0% the most recent flood or what area needs 00:03:45.540 --> 00:03:48.890 align:start position:0% the most recent flood or what area needs some<00:03:46.200> help<00:03:46.379> to<00:03:46.680> achieve<00:03:47.180> equal<00:03:48.180> rates<00:03:48.659> of 00:03:48.890 --> 00:03:48.900 align:start position:0% some help to achieve equal rates of 00:03:48.900 --> 00:03:51.410 align:start position:0% some help to achieve equal rates of gender<00:03:49.319> participation<00:03:49.920> in<00:03:50.220> education<00:03:50.700> so 00:03:51.410 --> 00:03:51.420 align:start position:0% gender participation in education so 00:03:51.420 --> 00:03:52.850 align:start position:0% gender participation in education so there<00:03:51.599> are<00:03:51.780> all<00:03:51.840> sorts<00:03:52.080> of<00:03:52.140> criteria<00:03:52.560> we<00:03:52.739> could 00:03:52.850 --> 00:03:52.860 align:start position:0% there are all sorts of criteria we could 00:03:52.860 --> 00:03:54.770 align:start position:0% there are all sorts of criteria we could use<00:03:52.980> to<00:03:53.280> try<00:03:53.400> to<00:03:53.519> figure<00:03:53.640> out<00:03:53.940> where<00:03:54.480> to<00:03:54.599> send 00:03:54.770 --> 00:03:54.780 align:start position:0% use to try to figure out where to send 00:03:54.780 --> 00:03:56.869 align:start position:0% use to try to figure out where to send money<00:03:55.019> and<00:03:55.560> that's<00:03:55.680> the<00:03:55.860> targeting<00:03:56.280> step<00:03:56.459> the 00:03:56.869 --> 00:03:56.879 align:start position:0% money and that's the targeting step the 00:03:56.879 --> 00:03:59.149 align:start position:0% money and that's the targeting step the next<00:03:57.000> step<00:03:57.120> is<00:03:57.299> enrollment<00:03:57.780> so<00:03:58.319> this<00:03:58.620> is<00:03:58.799> uh 00:03:59.149 --> 00:03:59.159 align:start position:0% next step is enrollment so this is uh 00:03:59.159 --> 00:04:01.610 align:start position:0% next step is enrollment so this is uh very<00:03:59.400> relevant<00:03:59.700> for<00:03:59.879> the<00:04:00.060> talk<00:04:00.239> that<00:04:00.659> we've 00:04:01.610 --> 00:04:01.620 align:start position:0% very relevant for the talk that we've 00:04:01.620 --> 00:04:03.410 align:start position:0% very relevant for the talk that we've just<00:04:01.799> heard<00:04:02.040> we<00:04:02.519> need<00:04:02.640> to<00:04:02.760> verify<00:04:03.120> people's 00:04:03.410 --> 00:04:03.420 align:start position:0% just heard we need to verify people's 00:04:03.420 --> 00:04:04.670 align:start position:0% just heard we need to verify people's identities<00:04:03.780> we<00:04:04.080> need<00:04:04.200> to<00:04:04.319> make<00:04:04.379> sure<00:04:04.500> that 00:04:04.670 --> 00:04:04.680 align:start position:0% identities we need to make sure that 00:04:04.680 --> 00:04:06.289 align:start position:0% identities we need to make sure that they're<00:04:04.860> real<00:04:05.040> people<00:04:05.280> that<00:04:05.879> we're<00:04:06.000> not<00:04:06.180> just 00:04:06.289 --> 00:04:06.299 align:start position:0% they're real people that we're not just 00:04:06.299 --> 00:04:08.750 align:start position:0% they're real people that we're not just sending<00:04:06.659> money<00:04:06.840> to<00:04:07.319> some<00:04:08.040> account<00:04:08.220> somewhere 00:04:08.750 --> 00:04:08.760 align:start position:0% sending money to some account somewhere 00:04:08.760 --> 00:04:11.030 align:start position:0% sending money to some account somewhere which<00:04:09.180> was<00:04:09.780> set<00:04:09.959> up<00:04:10.080> for<00:04:10.439> the<00:04:10.500> purposes<00:04:10.860> of 00:04:11.030 --> 00:04:11.040 align:start position:0% which was set up for the purposes of 00:04:11.040 --> 00:04:13.910 align:start position:0% which was set up for the purposes of Fraud<00:04:11.340> and<00:04:12.000> we<00:04:12.180> need<00:04:12.299> to<00:04:12.420> be<00:04:12.599> in<00:04:12.959> person 00:04:13.910 --> 00:04:13.920 align:start position:0% Fraud and we need to be in person 00:04:13.920 --> 00:04:15.710 align:start position:0% Fraud and we need to be in person there's<00:04:14.400> no<00:04:14.580> such<00:04:14.760> thing<00:04:14.879> as<00:04:15.060> a<00:04:15.180> free<00:04:15.299> lunch<00:04:15.480> I 00:04:15.710 --> 00:04:15.720 align:start position:0% there's no such thing as a free lunch I 00:04:15.720 --> 00:04:17.270 align:start position:0% there's no such thing as a free lunch I think<00:04:15.900> everybody's<00:04:16.380> skeptical<00:04:16.799> if<00:04:17.100> somebody 00:04:17.270 --> 00:04:17.280 align:start position:0% think everybody's skeptical if somebody 00:04:17.280 --> 00:04:18.890 align:start position:0% think everybody's skeptical if somebody came<00:04:17.579> to<00:04:17.699> you<00:04:17.820> and<00:04:18.000> said<00:04:18.239> I'm<00:04:18.479> going<00:04:18.660> to<00:04:18.780> give 00:04:18.890 --> 00:04:18.900 align:start position:0% came to you and said I'm going to give 00:04:18.900 --> 00:04:20.930 align:start position:0% came to you and said I'm going to give you<00:04:19.079> what<00:04:19.680> is<00:04:19.859> more<00:04:20.040> than<00:04:20.160> a<00:04:20.340> Year's<00:04:20.579> worth<00:04:20.699> of 00:04:20.930 --> 00:04:20.940 align:start position:0% you what is more than a Year's worth of 00:04:20.940 --> 00:04:23.510 align:start position:0% you what is more than a Year's worth of your<00:04:21.060> salary<00:04:21.239> tomorrow<00:04:21.720> for<00:04:22.560> free<00:04:22.800> you 00:04:23.510 --> 00:04:23.520 align:start position:0% your salary tomorrow for free you 00:04:23.520 --> 00:04:24.830 align:start position:0% your salary tomorrow for free you wouldn't<00:04:23.580> believe<00:04:23.820> them<00:04:24.060> it<00:04:24.300> has<00:04:24.479> to<00:04:24.600> be<00:04:24.660> a 00:04:24.830 --> 00:04:24.840 align:start position:0% wouldn't believe them it has to be a 00:04:24.840 --> 00:04:27.110 align:start position:0% wouldn't believe them it has to be a scam<00:04:25.080> there<00:04:25.380> has<00:04:25.560> to<00:04:25.620> be<00:04:25.740> a<00:04:25.860> catch<00:04:26.220> and<00:04:26.880> so<00:04:27.000> it's 00:04:27.110 --> 00:04:27.120 align:start position:0% scam there has to be a catch and so it's 00:04:27.120 --> 00:04:28.550 align:start position:0% scam there has to be a catch and so it's really<00:04:27.300> important<00:04:27.720> actually<00:04:27.900> that<00:04:28.259> we<00:04:28.380> go 00:04:28.550 --> 00:04:28.560 align:start position:0% really important actually that we go 00:04:28.560 --> 00:04:30.469 align:start position:0% really important actually that we go there<00:04:28.740> and<00:04:29.160> we<00:04:29.340> can<00:04:29.460> talk<00:04:29.580> with<00:04:29.880> people<00:04:30.000> we<00:04:30.360> can 00:04:30.469 --> 00:04:30.479 align:start position:0% there and we can talk with people we can 00:04:30.479 --> 00:04:32.210 align:start position:0% there and we can talk with people we can build<00:04:30.600> rapport<00:04:31.020> with<00:04:31.199> them<00:04:31.440> and<00:04:31.919> they<00:04:32.100> can 00:04:32.210 --> 00:04:32.220 align:start position:0% build rapport with them and they can 00:04:32.220 --> 00:04:34.730 align:start position:0% build rapport with them and they can hear<00:04:32.400> about<00:04:32.639> other<00:04:33.180> Villages<00:04:33.600> nearby<00:04:34.080> other 00:04:34.730 --> 00:04:34.740 align:start position:0% hear about other Villages nearby other 00:04:34.740 --> 00:04:36.050 align:start position:0% hear about other Villages nearby other people<00:04:34.919> who've<00:04:35.280> already<00:04:35.460> gone<00:04:35.639> through<00:04:35.820> this 00:04:36.050 --> 00:04:36.060 align:start position:0% people who've already gone through this 00:04:36.060 --> 00:04:38.090 align:start position:0% people who've already gone through this process<00:04:36.419> and<00:04:37.020> they<00:04:37.199> can<00:04:37.320> know<00:04:37.500> that<00:04:37.740> this<00:04:37.919> is 00:04:38.090 --> 00:04:38.100 align:start position:0% process and they can know that this is 00:04:38.100 --> 00:04:40.550 align:start position:0% process and they can know that this is truly<00:04:38.520> unconditional<00:04:39.479> cash<00:04:39.720> it<00:04:40.259> will<00:04:40.380> be 00:04:40.550 --> 00:04:40.560 align:start position:0% truly unconditional cash it will be 00:04:40.560 --> 00:04:41.930 align:start position:0% truly unconditional cash it will be theirs<00:04:40.860> they<00:04:41.100> can<00:04:41.220> do<00:04:41.340> whatever<00:04:41.460> they<00:04:41.820> want 00:04:41.930 --> 00:04:41.940 align:start position:0% theirs they can do whatever they want 00:04:41.940 --> 00:04:43.850 align:start position:0% theirs they can do whatever they want with<00:04:42.120> it<00:04:42.300> the<00:04:42.840> next<00:04:42.960> step<00:04:43.139> is<00:04:43.380> transfer 00:04:43.850 --> 00:04:43.860 align:start position:0% with it the next step is transfer 00:04:43.860 --> 00:04:45.350 align:start position:0% with it the next step is transfer presently 00:04:45.350 --> 00:04:45.360 align:start position:0% presently 00:04:45.360 --> 00:04:47.510 align:start position:0% presently these<00:04:46.020> transfers<00:04:46.380> use<00:04:46.620> centralized<00:04:47.280> digital 00:04:47.510 --> 00:04:47.520 align:start position:0% these transfers use centralized digital 00:04:47.520 --> 00:04:49.670 align:start position:0% these transfers use centralized digital currency<00:04:47.880> systems<00:04:48.479> these<00:04:49.199> are<00:04:49.259> mobile<00:04:49.440> money 00:04:49.670 --> 00:04:49.680 align:start position:0% currency systems these are mobile money 00:04:49.680 --> 00:04:51.469 align:start position:0% currency systems these are mobile money systems<00:04:50.160> that<00:04:50.280> are<00:04:50.460> operated<00:04:50.759> by<00:04:51.000> telcos 00:04:51.469 --> 00:04:51.479 align:start position:0% systems that are operated by telcos 00:04:51.479 --> 00:04:53.870 align:start position:0% systems that are operated by telcos these<00:04:52.259> are<00:04:52.380> very<00:04:52.500> popular<00:04:52.740> in<00:04:53.340> Africa<00:04:53.699> and 00:04:53.870 --> 00:04:53.880 align:start position:0% these are very popular in Africa and 00:04:53.880 --> 00:04:56.450 align:start position:0% these are very popular in Africa and Kenya<00:04:54.240> over<00:04:54.479> 90<00:04:54.720> percent<00:04:55.020> of<00:04:55.380> households<00:04:55.979> use 00:04:56.450 --> 00:04:56.460 align:start position:0% Kenya over 90 percent of households use 00:04:56.460 --> 00:05:00.110 align:start position:0% Kenya over 90 percent of households use m-pesa<00:04:57.180> which<00:04:57.360> is<00:04:57.479> safaricoms 00:05:00.110 --> 00:05:00.120 align:start position:0% m-pesa which is safaricoms 00:05:00.120 --> 00:05:02.570 align:start position:0% m-pesa which is safaricoms mobile<00:05:00.479> money 00:05:02.570 --> 00:05:02.580 align:start position:0% mobile money 00:05:02.580 --> 00:05:06.050 align:start position:0% mobile money these<00:05:03.120> sorts<00:05:03.419> of<00:05:03.479> systems<00:05:04.320> truly<00:05:05.100> are<00:05:05.880> the 00:05:06.050 --> 00:05:06.060 align:start position:0% these sorts of systems truly are the 00:05:06.060 --> 00:05:08.390 align:start position:0% these sorts of systems truly are the best<00:05:06.180> systems<00:05:06.600> that<00:05:06.780> we<00:05:06.960> have<00:05:07.139> at<00:05:08.040> the<00:05:08.160> present 00:05:08.390 --> 00:05:08.400 align:start position:0% best systems that we have at the present 00:05:08.400 --> 00:05:10.430 align:start position:0% best systems that we have at the present day<00:05:08.580> it<00:05:09.240> would<00:05:09.360> not<00:05:09.479> be<00:05:09.720> sensible<00:05:10.139> to<00:05:10.320> give 00:05:10.430 --> 00:05:10.440 align:start position:0% day it would not be sensible to give 00:05:10.440 --> 00:05:12.170 align:start position:0% day it would not be sensible to give somebody<00:05:10.680> literal<00:05:11.220> cash<00:05:11.460> although<00:05:11.940> it<00:05:12.060> would 00:05:12.170 --> 00:05:12.180 align:start position:0% somebody literal cash although it would 00:05:12.180 --> 00:05:14.030 align:start position:0% somebody literal cash although it would be<00:05:12.360> more<00:05:12.540> private<00:05:12.900> and<00:05:13.139> more<00:05:13.259> decentralized 00:05:14.030 --> 00:05:14.040 align:start position:0% be more private and more decentralized 00:05:14.040 --> 00:05:16.370 align:start position:0% be more private and more decentralized their<00:05:14.759> house<00:05:14.940> doesn't<00:05:15.180> have<00:05:15.360> locks<00:05:15.780> you<00:05:16.320> know 00:05:16.370 --> 00:05:16.380 align:start position:0% their house doesn't have locks you know 00:05:16.380 --> 00:05:18.290 align:start position:0% their house doesn't have locks you know that<00:05:16.620> would<00:05:16.800> expose<00:05:17.220> them<00:05:17.460> to<00:05:17.699> a<00:05:17.820> lot<00:05:17.880> of<00:05:18.000> risk 00:05:18.290 --> 00:05:18.300 align:start position:0% that would expose them to a lot of risk 00:05:18.300 --> 00:05:19.310 align:start position:0% that would expose them to a lot of risk and<00:05:18.540> danger 00:05:19.310 --> 00:05:19.320 align:start position:0% and danger 00:05:19.320 --> 00:05:21.650 align:start position:0% and danger and<00:05:19.860> finally<00:05:20.040> we<00:05:20.220> have<00:05:20.340> monitor<00:05:20.699> so<00:05:21.060> we<00:05:21.479> follow 00:05:21.650 --> 00:05:21.660 align:start position:0% and finally we have monitor so we follow 00:05:21.660 --> 00:05:23.450 align:start position:0% and finally we have monitor so we follow up<00:05:21.900> we<00:05:22.139> make<00:05:22.259> sure<00:05:22.440> everybody<00:05:22.800> was<00:05:23.100> able<00:05:23.340> to 00:05:23.450 --> 00:05:23.460 align:start position:0% up we make sure everybody was able to 00:05:23.460 --> 00:05:26.029 align:start position:0% up we make sure everybody was able to receive<00:05:23.759> their<00:05:23.940> cash<00:05:24.180> that<00:05:25.080> they<00:05:25.740> were<00:05:25.919> not 00:05:26.029 --> 00:05:26.039 align:start position:0% receive their cash that they were not 00:05:26.039 --> 00:05:27.230 align:start position:0% receive their cash that they were not threatened<00:05:26.400> they<00:05:26.520> weren't<00:05:26.699> bribed<00:05:27.060> nothing 00:05:27.230 --> 00:05:27.240 align:start position:0% threatened they weren't bribed nothing 00:05:27.240 --> 00:05:29.510 align:start position:0% threatened they weren't bribed nothing bad<00:05:27.479> happened<00:05:27.720> to<00:05:27.960> them<00:05:28.139> because<00:05:28.440> of<00:05:28.680> it<00:05:28.919> uh 00:05:29.510 --> 00:05:29.520 align:start position:0% bad happened to them because of it uh 00:05:29.520 --> 00:05:31.430 align:start position:0% bad happened to them because of it uh and<00:05:29.699> that<00:05:29.880> they<00:05:30.180> continue<00:05:30.419> to<00:05:30.780> understand<00:05:30.960> how 00:05:31.430 --> 00:05:31.440 align:start position:0% and that they continue to understand how 00:05:31.440 --> 00:05:33.350 align:start position:0% and that they continue to understand how to<00:05:31.560> use<00:05:31.680> their<00:05:31.979> phone<00:05:32.100> how<00:05:32.639> to<00:05:32.759> use<00:05:32.880> it<00:05:33.060> safely 00:05:33.350 --> 00:05:33.360 align:start position:0% to use their phone how to use it safely 00:05:33.360 --> 00:05:35.510 align:start position:0% to use their phone how to use it safely securely<00:05:33.900> to<00:05:34.139> protect<00:05:34.440> their<00:05:34.620> pin<00:05:34.860> code<00:05:35.340> Etc 00:05:35.510 --> 00:05:35.520 align:start position:0% securely to protect their pin code Etc 00:05:35.520 --> 00:05:37.550 align:start position:0% securely to protect their pin code Etc so<00:05:36.120> let's<00:05:36.300> talk<00:05:36.539> a<00:05:36.780> little<00:05:36.900> bit<00:05:37.020> in<00:05:37.440> more 00:05:37.550 --> 00:05:37.560 align:start position:0% so let's talk a little bit in more 00:05:37.560 --> 00:05:39.350 align:start position:0% so let's talk a little bit in more detail<00:05:37.800> about<00:05:37.979> fraud<00:05:38.400> prevention<00:05:38.759> and<00:05:39.300> then 00:05:39.350 --> 00:05:39.360 align:start position:0% detail about fraud prevention and then 00:05:39.360 --> 00:05:41.510 align:start position:0% detail about fraud prevention and then we<00:05:39.539> can<00:05:39.720> talk<00:05:39.900> about<00:05:40.080> how<00:05:40.680> we<00:05:40.800> might<00:05:40.919> reimagine 00:05:41.510 --> 00:05:41.520 align:start position:0% we can talk about how we might reimagine 00:05:41.520 --> 00:05:44.330 align:start position:0% we can talk about how we might reimagine the<00:05:41.699> system<00:05:41.940> with<00:05:42.780> web3<00:05:43.199> so<00:05:43.740> give<00:05:43.919> directly 00:05:44.330 --> 00:05:44.340 align:start position:0% the system with web3 so give directly 00:05:44.340 --> 00:05:46.310 align:start position:0% the system with web3 so give directly lost<00:05:44.639> 241 00:05:46.310 --> 00:05:46.320 align:start position:0% lost 241 00:05:46.320 --> 00:05:48.170 align:start position:0% lost 241 000<00:05:46.500> in<00:05:47.039> 2021 00:05:48.170 --> 00:05:48.180 align:start position:0% 000 in 2021 00:05:48.180 --> 00:05:50.330 align:start position:0% 000 in 2021 and<00:05:48.660> that's<00:05:48.840> about<00:05:49.020> what<00:05:49.259> we<00:05:49.380> would<00:05:49.500> expect 00:05:50.330 --> 00:05:50.340 align:start position:0% and that's about what we would expect 00:05:50.340 --> 00:05:52.010 align:start position:0% and that's about what we would expect now<00:05:50.759> that's<00:05:50.940> a<00:05:51.120> lot<00:05:51.240> of<00:05:51.360> money<00:05:51.479> but<00:05:51.720> at<00:05:51.900> the 00:05:52.010 --> 00:05:52.020 align:start position:0% now that's a lot of money but at the 00:05:52.020 --> 00:05:53.749 align:start position:0% now that's a lot of money but at the same<00:05:52.139> time<00:05:52.320> because<00:05:52.680> give<00:05:52.979> directly<00:05:53.400> operates 00:05:53.749 --> 00:05:53.759 align:start position:0% same time because give directly operates 00:05:53.759 --> 00:05:56.390 align:start position:0% same time because give directly operates at<00:05:53.940> such<00:05:54.120> a<00:05:54.240> large<00:05:54.360> scale<00:05:54.600> that's<00:05:55.320> only<00:05:55.560> 0.2 00:05:56.390 --> 00:05:56.400 align:start position:0% at such a large scale that's only 0.2 00:05:56.400 --> 00:05:58.850 align:start position:0% at such a large scale that's only 0.2 percent<00:05:56.639> of<00:05:56.940> the<00:05:57.120> funds<00:05:57.419> and<00:05:58.139> you<00:05:58.259> can<00:05:58.380> see<00:05:58.560> on 00:05:58.850 --> 00:05:58.860 align:start position:0% percent of the funds and you can see on 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perhaps<00:06:14.460> uh<00:06:15.300> trick<00:06:15.660> them<00:06:15.979> lied<00:06:16.979> to<00:06:17.100> them 00:06:17.210 --> 00:06:17.220 align:start position:0% perhaps uh trick them lied to them 00:06:17.220 --> 00:06:18.830 align:start position:0% perhaps uh trick them lied to them tricked<00:06:17.699> them<00:06:17.820> into<00:06:18.000> revealing<00:06:18.479> their<00:06:18.600> pin 00:06:18.830 --> 00:06:18.840 align:start position:0% tricked them into revealing their pin 00:06:18.840 --> 00:06:22.189 align:start position:0% tricked them into revealing their pin code<00:06:19.520> the<00:06:20.520> next<00:06:20.639> is<00:06:20.820> imposters<00:06:21.360> this<00:06:21.900> would<00:06:22.020> be 00:06:22.189 --> 00:06:22.199 align:start position:0% code the next is imposters this would be 00:06:22.199 --> 00:06:24.290 align:start position:0% code the next is imposters this would be people<00:06:22.440> who<00:06:22.919> should<00:06:23.220> not<00:06:23.400> be<00:06:23.520> eligible<00:06:23.880> for<00:06:24.120> a 00:06:24.290 --> 00:06:24.300 align:start position:0% people who should not be eligible for a 00:06:24.300 --> 00:06:28.129 align:start position:0% people who should not be eligible for a program<00:06:24.740> perhaps<00:06:25.740> they<00:06:26.539> are<00:06:27.539> assuming<00:06:27.960> a 00:06:28.129 --> 00:06:28.139 align:start position:0% program perhaps they are assuming a 00:06:28.139 --> 00:06:30.350 align:start position:0% program perhaps they are assuming a false<00:06:28.319> Identity<00:06:28.740> or<00:06:29.220> they've<00:06:29.819> pretended<00:06:30.180> to 00:06:30.350 --> 00:06:30.360 align:start position:0% false Identity or they've pretended to 00:06:30.360 --> 00:06:31.850 align:start position:0% false Identity or they've pretended to move<00:06:30.539> into<00:06:30.840> a<00:06:31.199> place<00:06:31.319> where<00:06:31.560> they<00:06:31.740> don't 00:06:31.850 --> 00:06:31.860 align:start position:0% move into a place where they don't 00:06:31.860 --> 00:06:34.090 align:start position:0% move into a place where they don't actually<00:06:32.039> live<00:06:32.340> and<00:06:32.759> the<00:06:32.940> final<00:06:33.060> are<00:06:33.419> bribes 00:06:34.090 --> 00:06:34.100 align:start position:0% actually live and the final are bribes 00:06:34.100 --> 00:06:37.909 align:start position:0% actually live and the final are bribes people<00:06:35.100> who<00:06:35.460> have<00:06:36.139> asked<00:06:37.139> for<00:06:37.199> payment<00:06:37.440> for 00:06:37.909 --> 00:06:37.919 align:start position:0% people who have asked for payment for 00:06:37.919 --> 00:06:40.490 align:start position:0% people who have asked for payment for some<00:06:38.100> sort<00:06:38.280> of<00:06:38.400> favor<00:06:38.840> which<00:06:39.840> is<00:06:40.080> not 00:06:40.490 --> 00:06:40.500 align:start position:0% some sort of favor which is not 00:06:40.500 --> 00:06:42.409 align:start position:0% some sort of favor which is not appropriate<00:06:41.039> which<00:06:41.580> is<00:06:41.699> an<00:06:41.880> abuse<00:06:42.120> of<00:06:42.240> their 00:06:42.409 --> 00:06:42.419 align:start position:0% appropriate which is an abuse of their 00:06:42.419 --> 00:06:44.390 align:start position:0% appropriate which is an abuse of their power<00:06:42.660> so<00:06:43.440> the<00:06:43.680> rest<00:06:43.800> of<00:06:43.919> the<00:06:44.039> presentation 00:06:44.390 --> 00:06:44.400 align:start position:0% power so the rest of the presentation 00:06:44.400 --> 00:06:46.249 align:start position:0% power so the rest of the presentation I'll<00:06:44.699> talk<00:06:44.940> more<00:06:45.060> about<00:06:45.300> theft<00:06:45.720> and<00:06:45.840> bribes 00:06:46.249 --> 00:06:46.259 align:start position:0% I'll talk more about theft and bribes 00:06:46.259 --> 00:06:48.110 align:start position:0% I'll talk more about theft and bribes while<00:06:46.560> imposters<00:06:47.100> are<00:06:47.340> important<00:06:47.699> I<00:06:48.000> think 00:06:48.110 --> 00:06:48.120 align:start position:0% while imposters are important I think 00:06:48.120 --> 00:06:49.909 align:start position:0% while imposters are important I think theft<00:06:48.479> and<00:06:48.600> bribes<00:06:49.020> affect<00:06:49.440> individual 00:06:49.909 --> 00:06:49.919 align:start position:0% theft and bribes affect individual 00:06:49.919 --> 00:06:52.330 align:start position:0% theft and bribes affect individual people<00:06:50.280> directly<00:06:50.880> and<00:06:51.300> that's<00:06:51.720> of<00:06:52.020> course 00:06:52.330 --> 00:06:52.340 align:start position:0% people directly and that's of course 00:06:52.340 --> 00:06:55.370 align:start position:0% people directly and that's of course makes<00:06:53.340> them<00:06:53.520> even<00:06:53.699> more<00:06:53.940> important<00:06:54.660> so<00:06:55.080> some 00:06:55.370 --> 00:06:55.380 align:start position:0% makes them even more important so some 00:06:55.380 --> 00:06:57.710 align:start position:0% makes them even more important so some of<00:06:55.500> our<00:06:55.740> measures<00:06:56.580> that<00:06:56.819> we<00:06:56.940> take<00:06:57.060> we<00:06:57.419> have<00:06:57.479> our 00:06:57.710 --> 00:06:57.720 align:start position:0% of our measures that we take we have our 00:06:57.720 --> 00:06:59.689 align:start position:0% of our measures that we take we have our standard<00:06:57.960> approach<00:06:58.400> which<00:06:59.400> we've<00:06:59.580> already 00:06:59.689 --> 00:06:59.699 align:start position:0% standard approach which we've already 00:06:59.699 --> 00:07:01.189 align:start position:0% standard approach which we've already talked<00:07:00.000> about<00:07:00.120> we're<00:07:00.600> going<00:07:00.840> to<00:07:00.960> give<00:07:01.020> them 00:07:01.189 --> 00:07:01.199 align:start position:0% talked about we're going to give them 00:07:01.199 --> 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to make sure everything went<00:07:06.180> well<00:07:06.360> additionally<00:07:06.960> there's<00:07:07.259> a 00:07:07.430 --> 00:07:07.440 align:start position:0% went well additionally there's a 00:07:07.440 --> 00:07:09.290 align:start position:0% went well additionally there's a recipient<00:07:07.800> advocacy<00:07:08.340> team<00:07:08.580> so<00:07:08.819> this<00:07:09.000> is<00:07:09.120> an 00:07:09.290 --> 00:07:09.300 align:start position:0% recipient advocacy team so this is an 00:07:09.300 --> 00:07:11.629 align:start position:0% recipient advocacy team so this is an entire<00:07:09.539> team<00:07:09.840> that's<00:07:10.380> firewalled<00:07:11.039> from<00:07:11.340> the 00:07:11.629 --> 00:07:11.639 align:start position:0% entire team that's firewalled from the 00:07:11.639 --> 00:07:13.249 align:start position:0% entire team that's firewalled from the day-to-day<00:07:12.060> work<00:07:12.360> the<00:07:12.720> people<00:07:12.840> who<00:07:13.020> are<00:07:13.139> doing 00:07:13.249 --> 00:07:13.259 align:start position:0% day-to-day work the people who are doing 00:07:13.259 --> 00:07:15.590 align:start position:0% day-to-day work the people who are doing targeting<00:07:13.740> operations<00:07:14.520> etc<00:07:14.759> those<00:07:15.360> people 00:07:15.590 --> 00:07:15.600 align:start position:0% targeting operations etc those people 00:07:15.600 --> 00:07:17.090 align:start position:0% targeting operations etc those people don't<00:07:15.840> even<00:07:16.020> know<00:07:16.259> who<00:07:16.500> the<00:07:16.740> recipient 00:07:17.090 --> 00:07:17.100 align:start position:0% don't even know who the recipient 00:07:17.100 --> 00:07:19.070 align:start position:0% don't even know who the recipient advocacy<00:07:17.639> team<00:07:17.819> are<00:07:18.060> and<00:07:18.419> that<00:07:18.539> allows<00:07:18.780> us<00:07:18.900> to 00:07:19.070 --> 00:07:19.080 align:start position:0% advocacy team are and that allows us to 00:07:19.080 --> 00:07:21.589 align:start position:0% advocacy team are and that allows us to do<00:07:19.139> audits<00:07:19.680> we<00:07:20.099> audit<00:07:20.460> that<00:07:20.639> nobody<00:07:21.120> on<00:07:21.419> our 00:07:21.589 --> 00:07:21.599 align:start position:0% do audits we audit that nobody on our 00:07:21.599 --> 00:07:23.749 align:start position:0% do audits we audit that nobody on our team<00:07:21.780> asks<00:07:22.680> somebody<00:07:22.800> for<00:07:23.099> a<00:07:23.220> favor<00:07:23.340> in<00:07:23.639> order 00:07:23.749 --> 00:07:23.759 align:start position:0% team asks somebody for a favor in order 00:07:23.759 --> 00:07:25.249 align:start position:0% team asks somebody for a favor in order to<00:07:23.880> be<00:07:24.060> included<00:07:24.360> with<00:07:24.479> a<00:07:24.660> program<00:07:24.840> and 00:07:25.249 --> 00:07:25.259 align:start position:0% to be included with a program and 00:07:25.259 --> 00:07:26.749 align:start position:0% to be included with a program and finally<00:07:25.500> we'll<00:07:25.680> do<00:07:25.800> risk<00:07:26.099> assessments<00:07:26.520> so 00:07:26.749 --> 00:07:26.759 align:start position:0% finally we'll do risk assessments so 00:07:26.759 --> 00:07:29.089 align:start position:0% finally we'll do risk assessments so sometimes<00:07:27.240> in<00:07:27.840> a<00:07:27.960> certain<00:07:28.139> setting<00:07:28.560> it's 00:07:29.089 --> 00:07:29.099 align:start position:0% sometimes in a certain setting it's 00:07:29.099 --> 00:07:30.490 align:start position:0% sometimes in a certain setting it's actually<00:07:29.340> quite 00:07:30.490 --> 00:07:30.500 align:start position:0% actually quite 00:07:30.500 --> 00:07:33.350 align:start position:0% actually quite sensitive<00:07:31.500> and<00:07:31.919> so<00:07:32.099> we'll<00:07:32.280> we'll<00:07:32.699> take 00:07:33.350 --> 00:07:33.360 align:start position:0% sensitive and so we'll we'll take 00:07:33.360 --> 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tailed by<00:07:40.259> scammers<00:07:40.979> or<00:07:41.280> people<00:07:41.520> who<00:07:41.759> are<00:07:41.880> trying<00:07:42.000> to 00:07:42.170 --> 00:07:42.180 align:start position:0% by scammers or people who are trying to 00:07:42.180 --> 00:07:43.490 align:start position:0% by scammers or people who are trying to take<00:07:42.300> advantage<00:07:42.599> will<00:07:42.840> make<00:07:43.020> it<00:07:43.139> as<00:07:43.259> hard<00:07:43.380> as 00:07:43.490 --> 00:07:43.500 align:start position:0% take advantage will make it as hard as 00:07:43.500 --> 00:07:45.350 align:start position:0% take advantage will make it as hard as possible<00:07:43.800> for<00:07:44.039> them<00:07:44.160> to<00:07:44.400> figure<00:07:44.520> out<00:07:44.759> who<00:07:45.240> was 00:07:45.350 --> 00:07:45.360 align:start position:0% possible for them to figure out who was 00:07:45.360 --> 00:07:47.270 align:start position:0% possible for them to figure out who was in<00:07:45.539> our<00:07:45.720> program<00:07:45.919> additionally<00:07:46.919> we'll 00:07:47.270 --> 00:07:47.280 align:start position:0% in our program additionally we'll 00:07:47.280 --> 00:07:50.150 align:start position:0% in our program additionally we'll conceal<00:07:47.759> who's<00:07:48.300> being<00:07:48.840> enrolled<00:07:49.380> and<00:07:49.979> we'll 00:07:50.150 --> 00:07:50.160 align:start position:0% conceal who's being enrolled and we'll 00:07:50.160 --> 00:07:52.129 align:start position:0% conceal who's being enrolled and we'll stagger<00:07:50.639> payments<00:07:51.120> if<00:07:51.360> we<00:07:51.479> pay<00:07:51.599> everybody<00:07:51.840> at 00:07:52.129 --> 00:07:52.139 align:start position:0% stagger payments if we pay everybody at 00:07:52.139 --> 00:07:53.809 align:start position:0% stagger payments if we pay everybody at once<00:07:52.380> they<00:07:52.740> all<00:07:52.860> go<00:07:53.039> to<00:07:53.099> the<00:07:53.220> market<00:07:53.340> at<00:07:53.580> once 00:07:53.809 --> 00:07:53.819 align:start position:0% once they all go to the market at once 00:07:53.819 --> 00:07:56.870 align:start position:0% once they all go to the market at once it's<00:07:54.060> very<00:07:54.240> obvious<00:07:54.599> that<00:07:55.259> XYZ<00:07:55.860> Village<00:07:56.220> was 00:07:56.870 --> 00:07:56.880 align:start position:0% it's very obvious that XYZ Village was 00:07:56.880 --> 00:07:58.909 align:start position:0% it's very obvious that XYZ Village was the<00:07:57.060> village<00:07:57.240> that<00:07:57.780> most<00:07:58.080> recently<00:07:58.500> received 00:07:58.909 --> 00:07:58.919 align:start position:0% the village that most recently received 00:07:58.919 --> 00:08:01.309 align:start position:0% the village that most recently received their<00:07:59.099> payments<00:07:59.400> from<00:07:59.520> give<00:07:59.639> directly<00:08:00.120> so 00:08:01.309 --> 00:08:01.319 align:start position:0% their payments from give directly so 00:08:01.319 --> 00:08:02.930 align:start position:0% their payments from give directly so that<00:08:01.500> was<00:08:01.620> an<00:08:01.740> interesting<00:08:02.099> system 00:08:02.930 --> 00:08:02.940 align:start position:0% that was an interesting system 00:08:02.940 --> 00:08:05.390 align:start position:0% that was an interesting system but<00:08:03.360> I<00:08:03.599> think<00:08:03.780> we<00:08:04.080> can<00:08:04.199> make<00:08:04.319> it<00:08:04.440> a<00:08:04.560> lot<00:08:04.680> better 00:08:05.390 --> 00:08:05.400 align:start position:0% but I think we can make it a lot better 00:08:05.400 --> 00:08:06.770 align:start position:0% but I think we can make it a lot better and 00:08:06.770 --> 00:08:06.780 align:start position:0% and 00:08:06.780 --> 00:08:09.770 align:start position:0% and to<00:08:07.020> that<00:08:07.259> end<00:08:07.440> let's<00:08:08.039> talk<00:08:08.220> about<00:08:08.599> what<00:08:09.599> give 00:08:09.770 --> 00:08:09.780 align:start position:0% to that end let's talk about what give 00:08:09.780 --> 00:08:11.809 align:start position:0% to that end let's talk about what give directly<00:08:10.199> currently<00:08:10.560> does<00:08:10.800> splitting<00:08:11.699> that 00:08:11.809 --> 00:08:11.819 align:start position:0% directly currently does splitting that 00:08:11.819 --> 00:08:14.029 align:start position:0% directly currently does splitting that into<00:08:11.940> two<00:08:12.180> categories<00:08:12.599> funds<00:08:13.199> in<00:08:13.440> we've 00:08:14.029 --> 00:08:14.039 align:start position:0% into two categories funds in we've 00:08:14.039 --> 00:08:16.309 align:start position:0% into two categories funds in we've received<00:08:14.400> crypto<00:08:14.759> donations<00:08:15.120> since<00:08:15.539> 2014. 00:08:16.309 --> 00:08:16.319 align:start position:0% received crypto donations since 2014. 00:08:16.319 --> 00:08:18.830 align:start position:0% received crypto donations since 2014. we've<00:08:17.099> been<00:08:17.280> very<00:08:17.940> happy<00:08:18.120> to<00:08:18.360> receive<00:08:18.660> more 00:08:18.830 --> 00:08:18.840 align:start position:0% we've been very happy to receive more 00:08:18.840 --> 00:08:20.570 align:start position:0% we've been very happy to receive more than<00:08:18.960> 50<00:08:19.139> million<00:08:19.560> dollars<00:08:19.860> in<00:08:20.039> direct<00:08:20.160> crypto 00:08:20.570 --> 00:08:20.580 align:start position:0% than 50 million dollars in direct crypto 00:08:20.580 --> 00:08:22.909 align:start position:0% than 50 million dollars in direct crypto donations<00:08:20.940> and<00:08:21.599> I<00:08:21.720> think<00:08:21.840> that<00:08:22.020> speaks<00:08:22.440> to<00:08:22.560> how 00:08:22.909 --> 00:08:22.919 align:start position:0% donations and I think that speaks to how 00:08:22.919 --> 00:08:26.150 align:start position:0% donations and I think that speaks to how well<00:08:23.160> our<00:08:24.120> Visions<00:08:24.660> are<00:08:24.900> aligned<00:08:25.319> give 00:08:26.150 --> 00:08:26.160 align:start position:0% well our Visions are aligned give 00:08:26.160 --> 00:08:29.150 align:start position:0% well our Visions are aligned give directly<00:08:26.639> and<00:08:27.180> ethereum<00:08:27.720> are<00:08:28.560> both<00:08:28.740> focused 00:08:29.150 --> 00:08:29.160 align:start position:0% directly and ethereum are both focused 00:08:29.160 --> 00:08:30.770 align:start position:0% directly and ethereum are both focused on<00:08:29.340> financial<00:08:29.580> inclusion<00:08:30.180> they<00:08:30.479> both<00:08:30.599> are 00:08:30.770 --> 00:08:30.780 align:start position:0% on financial inclusion they both are 00:08:30.780 --> 00:08:32.329 align:start position:0% on financial inclusion they both are focused<00:08:31.080> on<00:08:31.199> empowering<00:08:31.740> and<00:08:31.919> respecting 00:08:32.329 --> 00:08:32.339 align:start position:0% focused on empowering and respecting 00:08:32.339 --> 00:08:34.790 align:start position:0% focused on empowering and respecting individual<00:08:32.820> people<00:08:33.060> and<00:08:33.360> their<00:08:33.539> privacy<00:08:33.899> and 00:08:34.790 --> 00:08:34.800 align:start position:0% individual people and their privacy and 00:08:34.800 --> 00:08:36.769 align:start position:0% individual people and their privacy and for<00:08:34.979> that<00:08:35.099> reason<00:08:35.279> I'm<00:08:36.060> very<00:08:36.360> happy<00:08:36.539> to<00:08:36.659> be 00:08:36.769 --> 00:08:36.779 align:start position:0% for that reason I'm very happy to be 00:08:36.779 --> 00:08:38.810 align:start position:0% for that reason I'm very happy to be able<00:08:36.899> to<00:08:36.959> speak<00:08:37.080> here<00:08:37.320> today<00:08:37.580> in<00:08:38.580> terms<00:08:38.760> of 00:08:38.810 --> 00:08:38.820 align:start position:0% able to speak here today in terms of 00:08:38.820 --> 00:08:40.990 align:start position:0% able to speak here today in terms of funds<00:08:39.120> out<00:08:39.240> we're<00:08:39.539> still<00:08:39.779> working<00:08:40.020> on 00:08:40.990 --> 00:08:41.000 align:start position:0% funds out we're still working on 00:08:41.000 --> 00:08:43.610 align:start position:0% funds out we're still working on piloting<00:08:42.000> these<00:08:42.240> programs<00:08:42.719> but<00:08:43.080> it's<00:08:43.440> been 00:08:43.610 --> 00:08:43.620 align:start position:0% piloting these programs but it's been 00:08:43.620 --> 00:08:45.650 align:start position:0% piloting these programs but it's been surprisingly<00:08:44.159> an<00:08:44.880> interesting<00:08:45.240> learning<00:08:45.540> for 00:08:45.650 --> 00:08:45.660 align:start position:0% surprisingly an interesting learning for 00:08:45.660 --> 00:08:47.870 align:start position:0% surprisingly an interesting learning for me<00:08:45.779> this<00:08:45.959> year<00:08:46.080> that<00:08:46.440> I<00:08:46.680> always<00:08:46.800> assumed<00:08:47.339> it 00:08:47.870 --> 00:08:47.880 align:start position:0% me this year that I always assumed it 00:08:47.880 --> 00:08:49.130 align:start position:0% me this year that I always assumed it would<00:08:48.000> be<00:08:48.120> really<00:08:48.240> painful<00:08:48.660> to<00:08:49.019> use 00:08:49.130 --> 00:08:49.140 align:start position:0% would be really painful to use 00:08:49.140 --> 00:08:51.170 align:start position:0% would be really painful to use cryptocurrency<00:08:49.920> you<00:08:50.580> know<00:08:50.640> it's<00:08:50.880> so<00:08:51.000> much 00:08:51.170 --> 00:08:51.180 align:start position:0% cryptocurrency you know it's so much 00:08:51.180 --> 00:08:53.269 align:start position:0% cryptocurrency you know it's so much easier<00:08:51.360> if<00:08:51.540> you<00:08:51.660> have<00:08:51.779> a<00:08:51.899> smartphone<00:08:52.279> if 00:08:53.269 --> 00:08:53.279 align:start position:0% easier if you have a smartphone if 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phone I would have expected<00:08:58.019> it<00:08:58.140> to<00:08:58.380> be<00:08:58.560> quite<00:08:58.920> quite<00:08:59.279> difficult 00:08:59.570 --> 00:08:59.580 align:start position:0% expected it to be quite quite difficult 00:08:59.580 --> 00:09:01.970 align:start position:0% expected it to be quite quite difficult but<00:09:00.180> in<00:09:00.360> our<00:09:00.480> initial<00:09:00.720> Pilots<00:09:01.140> it's<00:09:01.740> second 00:09:01.970 --> 00:09:01.980 align:start position:0% but in our initial Pilots it's second 00:09:01.980 --> 00:09:04.610 align:start position:0% but in our initial Pilots it's second nature<00:09:02.459> if<00:09:03.240> you<00:09:03.360> can<00:09:03.480> make<00:09:03.720> the<00:09:03.959> product<00:09:04.140> feel 00:09:04.610 --> 00:09:04.620 align:start position:0% nature if you can make the product feel 00:09:04.620 --> 00:09:06.290 align:start position:0% nature if you can make the product feel like<00:09:04.860> what<00:09:05.040> they've<00:09:05.279> used<00:09:05.399> before<00:09:05.640> feel<00:09:06.120> like 00:09:06.290 --> 00:09:06.300 align:start position:0% like what they've used before feel like 00:09:06.300 --> 00:09:07.910 align:start position:0% like what they've used before feel like mobile<00:09:06.420> money<00:09:06.660> money<00:09:07.019> then<00:09:07.500> suddenly 00:09:07.910 --> 00:09:07.920 align:start position:0% mobile money money then suddenly 00:09:07.920 --> 00:09:10.490 align:start position:0% mobile money money then suddenly everything<00:09:08.519> makes<00:09:08.820> sense<00:09:09.000> by<00:09:09.240> analogy<00:09:09.839> and<00:09:10.380> in 00:09:10.490 --> 00:09:10.500 align:start position:0% everything makes sense by analogy and in 00:09:10.500 --> 00:09:12.110 align:start position:0% everything makes sense by analogy and in fact<00:09:10.680> there<00:09:11.160> were<00:09:11.279> very<00:09:11.399> few<00:09:11.580> questions<00:09:11.760> about 00:09:12.110 --> 00:09:12.120 align:start position:0% fact there were very few questions about 00:09:12.120 --> 00:09:14.030 align:start position:0% fact there were very few questions about how<00:09:12.480> it<00:09:12.660> worked<00:09:12.959> and<00:09:13.260> more<00:09:13.440> questions<00:09:13.620> about 00:09:14.030 --> 00:09:14.040 align:start position:0% how it worked and more questions about 00:09:14.040 --> 00:09:16.009 align:start position:0% how it worked and more questions about what<00:09:14.580> are<00:09:14.700> the<00:09:14.820> fees<00:09:15.060> what<00:09:15.360> are<00:09:15.540> the<00:09:15.660> exact 00:09:16.009 --> 00:09:16.019 align:start position:0% what are the fees what are the exact 00:09:16.019 --> 00:09:18.769 align:start position:0% what are the fees what are the exact details<00:09:16.560> of<00:09:16.740> of<00:09:16.980> the<00:09:17.279> financial<00:09:17.779> uh 00:09:18.769 --> 00:09:18.779 align:start position:0% details of of the financial uh 00:09:18.779 --> 00:09:21.050 align:start position:0% details of of the financial uh incentives<00:09:19.260> here<00:09:19.500> so<00:09:20.040> in<00:09:20.640> the<00:09:20.760> interest<00:09:20.820> of 00:09:21.050 --> 00:09:21.060 align:start position:0% incentives here so in the interest of 00:09:21.060 --> 00:09:23.030 align:start position:0% incentives here so in the interest of time<00:09:21.180> I<00:09:21.480> won't<00:09:21.600> go<00:09:21.779> through<00:09:22.019> the<00:09:22.560> centralized 00:09:23.030 --> 00:09:23.040 align:start position:0% time I won't go through the centralized 00:09:23.040 --> 00:09:25.550 align:start position:0% time I won't go through the centralized versus<00:09:23.160> decentralized<00:09:24.060> I<00:09:24.600> think<00:09:24.720> people<00:09:25.320> in 00:09:25.550 --> 00:09:25.560 align:start position:0% versus decentralized I think people in 00:09:25.560 --> 00:09:28.310 align:start position:0% versus decentralized I think people in this<00:09:25.680> audience<00:09:25.980> probably<00:09:26.580> know<00:09:26.940> that<00:09:27.320> there's 00:09:28.310 --> 00:09:28.320 align:start position:0% this audience probably know that there's 00:09:28.320 --> 00:09:31.430 align:start position:0% this audience probably know that there's a<00:09:28.500> lot<00:09:28.620> of<00:09:28.740> value<00:09:28.860> to<00:09:29.279> be<00:09:29.399> had<00:09:29.880> by<00:09:30.600> more 00:09:31.430 --> 00:09:31.440 align:start position:0% a lot of value to be had by more 00:09:31.440 --> 00:09:33.230 align:start position:0% a lot of value to be had by more decentralized<00:09:31.980> system<00:09:32.220> what<00:09:32.940> are<00:09:33.120> the 00:09:33.230 --> 00:09:33.240 align:start position:0% decentralized system what are the 00:09:33.240 --> 00:09:34.850 align:start position:0% decentralized system what are the Privacy<00:09:33.540> threats<00:09:33.899> that<00:09:34.019> we<00:09:34.200> see<00:09:34.320> and 00:09:34.850 --> 00:09:34.860 align:start position:0% Privacy threats that we see and 00:09:34.860 --> 00:09:37.250 align:start position:0% Privacy threats that we see and specifically<00:09:35.459> what<00:09:35.820> would<00:09:36.060> be<00:09:36.240> happening<00:09:37.019> in 00:09:37.250 --> 00:09:37.260 align:start position:0% specifically what would be happening in 00:09:37.260 --> 00:09:38.870 align:start position:0% specifically what would be happening in an<00:09:37.560> naive<00:09:37.800> implementation<00:09:38.339> with<00:09:38.580> a<00:09:38.700> public 00:09:38.870 --> 00:09:38.880 align:start position:0% an naive implementation with a public 00:09:38.880 --> 00:09:41.449 align:start position:0% an naive implementation with a public Ledger<00:09:39.300> contrast<00:09:39.959> presently<00:09:40.680> we're<00:09:41.040> using 00:09:41.449 --> 00:09:41.459 align:start position:0% Ledger contrast presently we're using 00:09:41.459 --> 00:09:43.490 align:start position:0% Ledger contrast presently we're using centralized<00:09:42.180> systems<00:09:42.600> so<00:09:43.019> they<00:09:43.200> have<00:09:43.320> some 00:09:43.490 --> 00:09:43.500 align:start position:0% centralized systems so they have some 00:09:43.500 --> 00:09:45.050 align:start position:0% centralized systems so they have some degree<00:09:43.740> of<00:09:43.920> privacy<00:09:44.339> as<00:09:44.580> long<00:09:44.700> as<00:09:44.820> nobody 00:09:45.050 --> 00:09:45.060 align:start position:0% degree of privacy as long as nobody 00:09:45.060 --> 00:09:47.210 align:start position:0% degree of privacy as long as nobody leaks<00:09:45.480> the<00:09:45.600> information<00:09:45.779> it's<00:09:46.680> not<00:09:46.860> published 00:09:47.210 --> 00:09:47.220 align:start position:0% leaks the information it's not published 00:09:47.220 --> 00:09:49.730 align:start position:0% leaks the information it's not published anywhere<00:09:47.640> and<00:09:48.240> we<00:09:48.480> would<00:09:48.600> imagine<00:09:48.779> in<00:09:49.200> a 00:09:49.730 --> 00:09:49.740 align:start position:0% anywhere and we would imagine in a 00:09:49.740 --> 00:09:52.130 align:start position:0% anywhere and we would imagine in a public<00:09:49.980> Ledger<00:09:50.459> some<00:09:51.000> of<00:09:51.180> these<00:09:51.420> types<00:09:51.839> of 00:09:52.130 --> 00:09:52.140 align:start position:0% public Ledger some of these types of 00:09:52.140 --> 00:09:53.750 align:start position:0% public Ledger some of these types of Adverse<00:09:52.620> Events<00:09:52.920> might<00:09:53.100> become<00:09:53.339> more<00:09:53.580> common 00:09:53.750 --> 00:09:53.760 align:start position:0% Adverse Events might become more common 00:09:53.760 --> 00:09:55.550 align:start position:0% Adverse Events might become more common maybe<00:09:54.300> the<00:09:54.540> first<00:09:54.660> thing<00:09:54.779> to<00:09:54.959> say<00:09:55.080> is<00:09:55.260> that 00:09:55.550 --> 00:09:55.560 align:start position:0% maybe the first thing to say is that 00:09:55.560 --> 00:09:57.230 align:start position:0% maybe the first thing to say is that while<00:09:55.800> in<00:09:56.040> an<00:09:56.160> naive<00:09:56.399> implementation<00:09:56.940> people 00:09:57.230 --> 00:09:57.240 align:start position:0% while in an naive implementation people 00:09:57.240 --> 00:09:58.910 align:start position:0% while in an naive implementation people are<00:09:57.420> anonymized<00:09:58.080> they<00:09:58.260> just<00:09:58.380> have<00:09:58.500> a<00:09:58.620> wallet 00:09:58.910 --> 00:09:58.920 align:start position:0% are anonymized they just have a wallet 00:09:58.920 --> 00:10:01.070 align:start position:0% are anonymized they just have a wallet address<00:09:59.100> that's<00:09:59.700> probably<00:10:00.000> not<00:10:00.660> going<00:10:00.779> to<00:10:00.959> be 00:10:01.070 --> 00:10:01.080 align:start position:0% address that's probably not going to be 00:10:01.080 --> 00:10:02.690 align:start position:0% address that's probably not going to be enough<00:10:01.260> the<00:10:01.740> first<00:10:01.800> time<00:10:01.980> you<00:10:02.160> transact<00:10:02.519> with 00:10:02.690 --> 00:10:02.700 align:start position:0% enough the first time you transact with 00:10:02.700 --> 00:10:04.730 align:start position:0% enough the first time you transact with somebody<00:10:02.940> in<00:10:03.360> an<00:10:03.540> everyday<00:10:03.660> setting<00:10:04.260> you've 00:10:04.730 --> 00:10:04.740 align:start position:0% somebody in an everyday setting you've 00:10:04.740 --> 00:10:06.590 align:start position:0% somebody in an everyday setting you've paid<00:10:04.920> them<00:10:05.040> for<00:10:05.220> a<00:10:05.339> good<00:10:05.459> or<00:10:05.640> service 00:10:06.590 --> 00:10:06.600 align:start position:0% paid them for a good or service 00:10:06.600 --> 00:10:08.750 align:start position:0% paid them for a good or service they've<00:10:07.500> gone<00:10:07.680> to<00:10:07.800> a<00:10:07.980> store<00:10:08.100> that<00:10:08.399> has<00:10:08.519> a<00:10:08.640> known 00:10:08.750 --> 00:10:08.760 align:start position:0% they've gone to a store that has a known 00:10:08.760 --> 00:10:10.850 align:start position:0% they've gone to a store that has a known wallet<00:10:09.120> address<00:10:09.240> it's<00:10:09.899> very<00:10:10.140> easy<00:10:10.320> to<00:10:10.620> quickly 00:10:10.850 --> 00:10:10.860 align:start position:0% wallet address it's very easy to quickly 00:10:10.860 --> 00:10:13.730 align:start position:0% wallet address it's very easy to quickly de-anonymize<00:10:11.640> uh<00:10:12.600> everybody<00:10:13.080> in<00:10:13.440> your<00:10:13.560> local 00:10:13.730 --> 00:10:13.740 align:start position:0% de-anonymize uh everybody in your local 00:10:13.740 --> 00:10:16.310 align:start position:0% de-anonymize uh everybody in your local community<00:10:14.040> so<00:10:14.580> thinking<00:10:14.880> about<00:10:15.060> that<00:10:15.480> theft 00:10:16.310 --> 00:10:16.320 align:start position:0% community so thinking about that theft 00:10:16.320 --> 00:10:18.230 align:start position:0% community so thinking about that theft becomes<00:10:16.680> very<00:10:16.800> easy<00:10:17.040> if<00:10:17.820> you're<00:10:17.940> sitting 00:10:18.230 --> 00:10:18.240 align:start position:0% becomes very easy if you're sitting 00:10:18.240 --> 00:10:19.670 align:start position:0% becomes very easy if you're sitting outside<00:10:18.360> of<00:10:18.660> a<00:10:18.779> store<00:10:18.959> and<00:10:19.260> you<00:10:19.380> wait<00:10:19.500> for 00:10:19.670 --> 00:10:19.680 align:start position:0% outside of a store and you wait for 00:10:19.680 --> 00:10:20.810 align:start position:0% outside of a store and you wait for somebody<00:10:19.860> to<00:10:20.100> walk<00:10:20.279> in<00:10:20.459> and<00:10:20.700> you're 00:10:20.810 --> 00:10:20.820 align:start position:0% somebody to walk in and you're 00:10:20.820 --> 00:10:22.130 align:start position:0% somebody to walk in and you're refreshing<00:10:21.240> the<00:10:21.360> blockchain<00:10:21.660> on<00:10:21.959> that 00:10:22.130 --> 00:10:22.140 align:start position:0% refreshing the blockchain on that 00:10:22.140 --> 00:10:24.710 align:start position:0% refreshing the blockchain on that store's<00:10:22.620> address<00:10:23.100> you<00:10:23.880> could<00:10:24.000> see<00:10:24.240> the<00:10:24.660> most 00:10:24.710 --> 00:10:24.720 align:start position:0% store's address you could see the most 00:10:24.720 --> 00:10:26.990 align:start position:0% store's address you could see the most recent<00:10:25.019> transaction<00:10:25.500> you<00:10:26.220> could<00:10:26.339> see<00:10:26.640> the 00:10:26.990 --> 00:10:27.000 align:start position:0% recent transaction you could see the 00:10:27.000 --> 00:10:28.550 align:start position:0% recent transaction you could see the balance<00:10:27.300> of<00:10:27.420> that<00:10:27.600> person<00:10:27.779> and<00:10:28.140> you<00:10:28.260> could<00:10:28.320> say 00:10:28.550 --> 00:10:28.560 align:start position:0% balance of that person and you could say 00:10:28.560 --> 00:10:30.590 align:start position:0% balance of that person and you could say it's<00:10:29.160> worth<00:10:29.339> it<00:10:29.519> for<00:10:29.700> me<00:10:29.820> to<00:10:30.000> take<00:10:30.120> the<00:10:30.240> risk<00:10:30.480> to 00:10:30.590 --> 00:10:30.600 align:start position:0% it's worth it for me to take the risk to 00:10:30.600 --> 00:10:32.269 align:start position:0% it's worth it for me to take the risk to mug<00:10:30.839> this<00:10:31.019> person<00:10:31.200> because<00:10:31.500> I<00:10:31.740> know<00:10:31.860> that<00:10:32.160> they 00:10:32.269 --> 00:10:32.279 align:start position:0% mug this person because I know that they 00:10:32.279 --> 00:10:33.889 align:start position:0% mug this person because I know that they have<00:10:32.459> enough<00:10:32.640> money<00:10:32.940> that<00:10:33.360> I<00:10:33.660> will 00:10:33.889 --> 00:10:33.899 align:start position:0% have enough money that I will 00:10:33.899 --> 00:10:35.990 align:start position:0% have enough money that I will potentially<00:10:34.860> benefit 00:10:35.990 --> 00:10:36.000 align:start position:0% potentially benefit 00:10:36.000 --> 00:10:39.110 align:start position:0% potentially benefit bribery<00:10:36.779> similarly<00:10:37.860> people<00:10:38.339> pay<00:10:38.580> legitimate 00:10:39.110 --> 00:10:39.120 align:start position:0% bribery similarly people pay legitimate 00:10:39.120 --> 00:10:40.970 align:start position:0% bribery similarly people pay legitimate fees<00:10:39.360> all<00:10:39.540> the<00:10:39.660> time<00:10:39.779> once<00:10:40.500> they've<00:10:40.680> paid<00:10:40.740> that 00:10:40.970 --> 00:10:40.980 align:start position:0% fees all the time once they've paid that 00:10:40.980 --> 00:10:42.530 align:start position:0% fees all the time once they've paid that feed<00:10:41.160> if<00:10:41.580> you<00:10:41.700> can<00:10:41.820> look<00:10:41.940> at<00:10:42.120> their<00:10:42.240> balance 00:10:42.530 --> 00:10:42.540 align:start position:0% feed if you can look at their balance 00:10:42.540 --> 00:10:44.269 align:start position:0% feed if you can look at their balance you<00:10:42.779> can<00:10:42.899> know<00:10:43.019> exactly<00:10:43.560> how<00:10:43.860> much<00:10:43.980> you<00:10:44.160> can 00:10:44.269 --> 00:10:44.279 align:start position:0% you can know exactly how much you can 00:10:44.279 --> 00:10:45.949 align:start position:0% you can know exactly how much you can extort<00:10:44.579> them<00:10:44.880> where<00:10:45.180> they'll<00:10:45.360> be<00:10:45.540> able<00:10:45.660> to<00:10:45.779> pay 00:10:45.949 --> 00:10:45.959 align:start position:0% extort them where they'll be able to pay 00:10:45.959 --> 00:10:47.509 align:start position:0% extort them where they'll be able to pay you'll<00:10:46.560> see<00:10:46.680> I'm<00:10:46.860> not<00:10:46.980> wearing<00:10:47.220> any<00:10:47.339> give 00:10:47.509 --> 00:10:47.519 align:start position:0% you'll see I'm not wearing any give 00:10:47.519 --> 00:10:49.250 align:start position:0% you'll see I'm not wearing any give directly<00:10:47.940> clothing<00:10:48.120> in<00:10:48.540> fact<00:10:48.720> there<00:10:49.079> doesn't 00:10:49.250 --> 00:10:49.260 align:start position:0% directly clothing in fact there doesn't 00:10:49.260 --> 00:10:51.170 align:start position:0% directly clothing in fact there doesn't exist<00:10:49.620> any<00:10:49.800> we're<00:10:50.519> very<00:10:50.760> serious<00:10:51.000> about 00:10:51.170 --> 00:10:51.180 align:start position:0% exist any we're very serious about 00:10:51.180 --> 00:10:52.910 align:start position:0% exist any we're very serious about preventing<00:10:51.660> phishing<00:10:51.959> and<00:10:52.200> just<00:10:52.380> showing<00:10:52.800> up 00:10:52.910 --> 00:10:52.920 align:start position:0% preventing phishing and just showing up 00:10:52.920 --> 00:10:54.530 align:start position:0% preventing phishing and just showing up in<00:10:53.220> a<00:10:53.339> village<00:10:53.459> wearing<00:10:54.060> give<00:10:54.180> directly 00:10:54.530 --> 00:10:54.540 align:start position:0% in a village wearing give directly 00:10:54.540 --> 00:10:56.030 align:start position:0% in a village wearing give directly clothing<00:10:54.720> is<00:10:55.079> enough<00:10:55.260> to<00:10:55.560> let<00:10:55.680> you<00:10:55.800> social 00:10:56.030 --> 00:10:56.040 align:start position:0% clothing is enough to let you social 00:10:56.040 --> 00:10:58.910 align:start position:0% clothing is enough to let you social engineer<00:10:56.640> much<00:10:57.420> more<00:10:57.600> than<00:10:57.779> would<00:10:58.079> be<00:10:58.260> safe 00:10:58.910 --> 00:10:58.920 align:start position:0% engineer much more than would be safe 00:10:58.920 --> 00:11:01.430 align:start position:0% engineer much more than would be safe for<00:10:59.160> our<00:10:59.339> recipients<00:11:00.300> and<00:11:00.899> if<00:11:01.140> you<00:11:01.260> imagine 00:11:01.430 --> 00:11:01.440 align:start position:0% for our recipients and if you imagine 00:11:01.440 --> 00:11:02.930 align:start position:0% for our recipients and if you imagine what<00:11:01.860> somebody<00:11:01.980> could<00:11:02.279> do<00:11:02.459> with<00:11:02.700> a<00:11:02.820> public 00:11:02.930 --> 00:11:02.940 align:start position:0% what somebody could do with a public 00:11:02.940 --> 00:11:05.090 align:start position:0% what somebody could do with a public Ledger<00:11:03.420> be<00:11:03.959> calling<00:11:04.380> somebody<00:11:04.560> who<00:11:04.860> had<00:11:04.980> been 00:11:05.090 --> 00:11:05.100 align:start position:0% Ledger be calling somebody who had been 00:11:05.100 --> 00:11:06.889 align:start position:0% Ledger be calling somebody who had been in<00:11:05.279> a<00:11:05.339> give<00:11:05.459> directly<00:11:05.820> program<00:11:06.060> that<00:11:06.779> person 00:11:06.889 --> 00:11:06.899 align:start position:0% in a give directly program that person 00:11:06.899 --> 00:11:08.810 align:start position:0% in a give directly program that person has<00:11:07.200> already<00:11:07.320> been<00:11:07.560> sensitized<00:11:08.160> to<00:11:08.279> expect<00:11:08.519> a 00:11:08.810 --> 00:11:08.820 align:start position:0% has already been sensitized to expect a 00:11:08.820 --> 00:11:10.490 align:start position:0% has already been sensitized to expect a call<00:11:09.000> because<00:11:09.240> give<00:11:09.480> directly<00:11:09.959> follows<00:11:10.320> up 00:11:10.490 --> 00:11:10.500 align:start position:0% call because give directly follows up 00:11:10.500 --> 00:11:12.470 align:start position:0% call because give directly follows up they<00:11:11.160> would<00:11:11.339> speak<00:11:11.519> to<00:11:11.700> that<00:11:11.820> person<00:11:12.000> and<00:11:12.300> say 00:11:12.470 --> 00:11:12.480 align:start position:0% they would speak to that person and say 00:11:12.480 --> 00:11:14.810 align:start position:0% they would speak to that person and say hey<00:11:13.140> I<00:11:13.800> know<00:11:13.920> that<00:11:14.160> we've<00:11:14.399> given<00:11:14.579> you<00:11:14.640> a 00:11:14.810 --> 00:11:14.820 align:start position:0% hey I know that we've given you a 00:11:14.820 --> 00:11:16.250 align:start position:0% hey I know that we've given you a transfer<00:11:15.180> in<00:11:15.300> exactly<00:11:15.660> this<00:11:15.839> amount<00:11:16.079> at 00:11:16.250 --> 00:11:16.260 align:start position:0% transfer in exactly this amount at 00:11:16.260 --> 00:11:18.050 align:start position:0% transfer in exactly this amount at exactly<00:11:16.620> the<00:11:16.800> state<00:11:17.040> I<00:11:17.459> see<00:11:17.579> you<00:11:17.700> bought<00:11:17.880> a 00:11:18.050 --> 00:11:18.060 align:start position:0% exactly the state I see you bought a 00:11:18.060 --> 00:11:19.670 align:start position:0% exactly the state I see you bought a sandwich<00:11:18.180> yesterday<00:11:18.600> that<00:11:19.079> was<00:11:19.260> a<00:11:19.560> dollar 00:11:19.670 --> 00:11:19.680 align:start position:0% sandwich yesterday that was a dollar 00:11:19.680 --> 00:11:22.910 align:start position:0% sandwich yesterday that was a dollar fifty<00:11:20.220> uh<00:11:21.120> was<00:11:21.360> that<00:11:21.540> you<00:11:21.899> great<00:11:22.260> let<00:11:22.800> me 00:11:22.910 --> 00:11:22.920 align:start position:0% fifty uh was that you great let me 00:11:22.920 --> 00:11:24.949 align:start position:0% fifty uh was that you great let me secure<00:11:23.220> your<00:11:23.399> account<00:11:23.640> please<00:11:24.240> open<00:11:24.480> up<00:11:24.720> your 00:11:24.949 --> 00:11:24.959 align:start position:0% secure your account please open up your 00:11:24.959 --> 00:11:27.590 align:start position:0% secure your account please open up your app<00:11:25.200> I<00:11:25.740> will<00:11:25.860> need<00:11:25.980> your<00:11:26.220> seed<00:11:26.579> phrase 00:11:27.590 --> 00:11:27.600 align:start position:0% app I will need your seed phrase 00:11:27.600 --> 00:11:29.210 align:start position:0% app I will need your seed phrase and<00:11:28.079> suddenly<00:11:28.380> they've<00:11:28.680> lost<00:11:28.860> all<00:11:29.040> their 00:11:29.210 --> 00:11:29.220 align:start position:0% and suddenly they've lost all their 00:11:29.220 --> 00:11:31.850 align:start position:0% and suddenly they've lost all their money<00:11:29.399> uh<00:11:29.880> the<00:11:30.120> next<00:11:30.300> category<00:11:30.899> is<00:11:31.079> scams<00:11:31.560> of 00:11:31.850 --> 00:11:31.860 align:start position:0% money uh the next category is scams of 00:11:31.860 --> 00:11:33.350 align:start position:0% money uh the next category is scams of course<00:11:31.980> scammers<00:11:32.519> are<00:11:32.700> always<00:11:32.880> trying<00:11:33.120> to 00:11:33.350 --> 00:11:33.360 align:start position:0% course scammers are always trying to 00:11:33.360 --> 00:11:34.310 align:start position:0% course scammers are always trying to find<00:11:33.480> the<00:11:33.660> people<00:11:33.779> who<00:11:34.019> are<00:11:34.079> the<00:11:34.200> most 00:11:34.310 --> 00:11:34.320 align:start position:0% find the people who are the most 00:11:34.320 --> 00:11:36.530 align:start position:0% find the people who are the most vulnerable<00:11:34.740> who<00:11:35.519> don't<00:11:35.700> have<00:11:35.880> people<00:11:36.180> who<00:11:36.420> can 00:11:36.530 --> 00:11:36.540 align:start position:0% vulnerable who don't have people who can 00:11:36.540 --> 00:11:37.730 align:start position:0% vulnerable who don't have people who can intervene<00:11:36.959> and<00:11:37.079> say<00:11:37.200> wait<00:11:37.380> this<00:11:37.620> doesn't 00:11:37.730 --> 00:11:37.740 align:start position:0% intervene and say wait this doesn't 00:11:37.740 --> 00:11:39.410 align:start position:0% intervene and say wait this doesn't sound<00:11:38.040> right<00:11:38.279> so<00:11:38.820> they're<00:11:38.940> looking<00:11:39.180> for 00:11:39.410 --> 00:11:39.420 align:start position:0% sound right so they're looking for 00:11:39.420 --> 00:11:41.030 align:start position:0% sound right so they're looking for people<00:11:39.660> who<00:11:39.899> are<00:11:40.019> elderly<00:11:40.440> people<00:11:40.740> who<00:11:40.980> are 00:11:41.030 --> 00:11:41.040 align:start position:0% people who are elderly people who are 00:11:41.040 --> 00:11:43.130 align:start position:0% people who are elderly people who are illiterate<00:11:41.519> people<00:11:41.760> who<00:11:42.180> are<00:11:42.720> going<00:11:42.839> to<00:11:43.019> be 00:11:43.130 --> 00:11:43.140 align:start position:0% illiterate people who are going to be 00:11:43.140 --> 00:11:46.310 align:start position:0% illiterate people who are going to be more<00:11:43.320> likely<00:11:43.620> to<00:11:43.740> be<00:11:43.920> scammed<00:11:44.899> and<00:11:45.899> we<00:11:46.260> don't 00:11:46.310 --> 00:11:46.320 align:start position:0% more likely to be scammed and we don't 00:11:46.320 --> 00:11:47.750 align:start position:0% more likely to be scammed and we don't want<00:11:46.500> to<00:11:46.620> make<00:11:46.680> that<00:11:46.860> any<00:11:46.980> easier<00:11:47.279> for<00:11:47.459> them<00:11:47.579> we 00:11:47.750 --> 00:11:47.760 align:start position:0% want to make that any easier for them we 00:11:47.760 --> 00:11:48.650 align:start position:0% want to make that any easier for them we don't<00:11:47.880> want<00:11:48.000> them<00:11:48.120> to<00:11:48.300> be<00:11:48.360> able<00:11:48.480> to 00:11:48.650 --> 00:11:48.660 align:start position:0% don't want them to be able to 00:11:48.660 --> 00:11:49.970 align:start position:0% don't want them to be able to cross-reference<00:11:49.320> these<00:11:49.680> are<00:11:49.740> all<00:11:49.860> the 00:11:49.970 --> 00:11:49.980 align:start position:0% cross-reference these are all the 00:11:49.980 --> 00:11:51.290 align:start position:0% cross-reference these are all the elderly<00:11:50.399> people<00:11:50.640> and<00:11:50.940> these<00:11:51.060> are<00:11:51.180> their 00:11:51.290 --> 00:11:51.300 align:start position:0% elderly people and these are their 00:11:51.300 --> 00:11:52.910 align:start position:0% elderly people and these are their account<00:11:51.420> balances<00:11:52.019> in<00:11:52.140> this<00:11:52.320> Village<00:11:52.500> and 00:11:52.910 --> 00:11:52.920 align:start position:0% account balances in this Village and 00:11:52.920 --> 00:11:55.910 align:start position:0% account balances in this Village and therefore<00:11:53.100> will<00:11:53.399> Target<00:11:53.720> so<00:11:54.720> and<00:11:54.839> so<00:11:55.019> and 00:11:55.910 --> 00:11:55.920 align:start position:0% therefore will Target so and so and 00:11:55.920 --> 00:11:58.430 align:start position:0% therefore will Target so and so and finally<00:11:56.160> maybe<00:11:56.399> the<00:11:56.760> most<00:11:56.940> hard<00:11:57.839> to<00:11:58.019> pin<00:11:58.260> down 00:11:58.430 --> 00:11:58.440 align:start position:0% finally maybe the most hard to pin down 00:11:58.440 --> 00:12:00.769 align:start position:0% finally maybe the most hard to pin down is<00:11:59.100> social<00:11:59.339> pressure<00:11:59.640> it's<00:12:00.300> supposed<00:12:00.480> to<00:12:00.660> be 00:12:00.769 --> 00:12:00.779 align:start position:0% is social pressure it's supposed to be 00:12:00.779 --> 00:12:02.810 align:start position:0% is social pressure it's supposed to be unconditional<00:12:01.440> cash<00:12:01.740> it's<00:12:02.459> supposed<00:12:02.640> to 00:12:02.810 --> 00:12:02.820 align:start position:0% unconditional cash it's supposed to 00:12:02.820 --> 00:12:04.310 align:start position:0% unconditional cash it's supposed to allow<00:12:03.120> people<00:12:03.300> to<00:12:03.540> make<00:12:03.720> decisions<00:12:04.079> for 00:12:04.310 --> 00:12:04.320 align:start position:0% allow people to make decisions for 00:12:04.320 --> 00:12:06.530 align:start position:0% allow people to make decisions for themselves<00:12:04.740> and<00:12:05.519> if<00:12:05.700> that<00:12:05.880> decision<00:12:06.120> is<00:12:06.360> for 00:12:06.530 --> 00:12:06.540 align:start position:0% themselves and if that decision is for 00:12:06.540 --> 00:12:08.210 align:start position:0% themselves and if that decision is for example<00:12:06.839> to<00:12:07.079> send<00:12:07.380> your<00:12:07.560> daughter<00:12:07.740> to<00:12:07.980> school 00:12:08.210 --> 00:12:08.220 align:start position:0% example to send your daughter to school 00:12:08.220 --> 00:12:10.730 align:start position:0% example to send your daughter to school that<00:12:08.940> might<00:12:09.120> not<00:12:09.300> be<00:12:09.660> the<00:12:10.019> norm<00:12:10.140> in<00:12:10.500> the<00:12:10.620> place 00:12:10.730 --> 00:12:10.740 align:start position:0% that might not be the norm in the place 00:12:10.740 --> 00:12:12.530 align:start position:0% that might not be the norm in the place that<00:12:10.980> you<00:12:11.160> live<00:12:11.279> and<00:12:11.880> it's<00:12:12.000> very<00:12:12.240> important 00:12:12.530 --> 00:12:12.540 align:start position:0% that you live and it's very important 00:12:12.540 --> 00:12:14.150 align:start position:0% that you live and it's very important for<00:12:12.779> that<00:12:12.959> person<00:12:13.140> to<00:12:13.440> be<00:12:13.500> able<00:12:13.680> to<00:12:13.800> make<00:12:13.980> that 00:12:14.150 --> 00:12:14.160 align:start position:0% for that person to be able to make that 00:12:14.160 --> 00:12:15.470 align:start position:0% for that person to be able to make that decision<00:12:14.399> for<00:12:14.640> themselves<00:12:14.940> and<00:12:15.120> for<00:12:15.300> their 00:12:15.470 --> 00:12:15.480 align:start position:0% decision for themselves and for their 00:12:15.480 --> 00:12:18.590 align:start position:0% decision for themselves and for their family<00:12:15.720> without<00:12:16.500> people<00:12:17.000> giving<00:12:18.000> them<00:12:18.240> undue 00:12:18.590 --> 00:12:18.600 align:start position:0% family without people giving them undue 00:12:18.600 --> 00:12:19.970 align:start position:0% family without people giving them undue scrutiny<00:12:19.140> so<00:12:19.440> of<00:12:19.560> course<00:12:19.680> there<00:12:19.860> are 00:12:19.970 --> 00:12:19.980 align:start position:0% scrutiny so of course there are 00:12:19.980 --> 00:12:21.350 align:start position:0% scrutiny so of course there are mitigations<00:12:20.279> for<00:12:20.519> this<00:12:20.700> that<00:12:20.940> was<00:12:21.120> all 00:12:21.350 --> 00:12:21.360 align:start position:0% mitigations for this that was all 00:12:21.360 --> 00:12:23.930 align:start position:0% mitigations for this that was all assuming<00:12:21.839> a<00:12:21.959> naive<00:12:22.200> implementation<00:12:22.940> you 00:12:23.930 --> 00:12:23.940 align:start position:0% assuming a naive implementation you 00:12:23.940 --> 00:12:26.630 align:start position:0% assuming a naive implementation you might<00:12:24.060> have<00:12:24.300> heard<00:12:24.540> of<00:12:25.019> Aztec<00:12:25.620> that's<00:12:25.860> a<00:12:26.220> layer 00:12:26.630 --> 00:12:26.640 align:start position:0% might have heard of Aztec that's a layer 00:12:26.640 --> 00:12:28.970 align:start position:0% might have heard of Aztec that's a layer two<00:12:26.820> focused<00:12:27.360> on<00:12:27.480> privacy<00:12:28.260> and<00:12:28.680> they<00:12:28.860> have 00:12:28.970 --> 00:12:28.980 align:start position:0% two focused on privacy and they have 00:12:28.980 --> 00:12:30.710 align:start position:0% two focused on privacy and they have many<00:12:29.220> of<00:12:29.399> these<00:12:29.640> features<00:12:29.940> balance<00:12:30.420> and 00:12:30.710 --> 00:12:30.720 align:start position:0% many of these features balance and 00:12:30.720 --> 00:12:32.990 align:start position:0% many of these features balance and transaction<00:12:31.019> privacy<00:12:31.620> it's<00:12:32.399> enabled<00:12:32.820> by 00:12:32.990 --> 00:12:33.000 align:start position:0% transaction privacy it's enabled by 00:12:33.000 --> 00:12:35.569 align:start position:0% transaction privacy it's enabled by default<00:12:33.680> for<00:12:34.680> example 00:12:35.569 --> 00:12:35.579 align:start position:0% default for example 00:12:35.579 --> 00:12:38.690 align:start position:0% default for example if<00:12:36.180> if<00:12:36.560> I<00:12:37.560> told<00:12:37.680> somebody<00:12:37.920> hey<00:12:38.279> there's<00:12:38.459> a<00:12:38.640> way 00:12:38.690 --> 00:12:38.700 align:start position:0% if if I told somebody hey there's a way 00:12:38.700 --> 00:12:40.550 align:start position:0% if if I told somebody hey there's a way to<00:12:38.880> be<00:12:39.000> private<00:12:39.360> you're<00:12:39.839> going<00:12:40.019> to<00:12:40.079> go<00:12:40.200> use<00:12:40.380> the 00:12:40.550 --> 00:12:40.560 align:start position:0% to be private you're going to go use the 00:12:40.560 --> 00:12:42.170 align:start position:0% to be private you're going to go use the smart<00:12:40.740> contract<00:12:41.160> called<00:12:41.399> a<00:12:41.579> Tumblr<00:12:42.000> you're 00:12:42.170 --> 00:12:42.180 align:start position:0% smart contract called a Tumblr you're 00:12:42.180 --> 00:12:45.350 align:start position:0% smart contract called a Tumblr you're going<00:12:42.360> to<00:12:42.540> add<00:12:43.440> to<00:12:43.620> that<00:12:43.860> Tumblr<00:12:44.339> in<00:12:44.880> one 00:12:45.350 --> 00:12:45.360 align:start position:0% going to add to that Tumblr in one 00:12:45.360 --> 00:12:46.790 align:start position:0% going to add to that Tumblr in one amount<00:12:45.660> and<00:12:45.899> when<00:12:46.079> you<00:12:46.200> subtract<00:12:46.500> you'll 00:12:46.790 --> 00:12:46.800 align:start position:0% amount and when you subtract you'll 00:12:46.800 --> 00:12:48.350 align:start position:0% amount and when you subtract you'll subtract<00:12:47.100> in<00:12:47.279> a<00:12:47.399> different<00:12:47.519> amount<00:12:47.880> and<00:12:48.180> each 00:12:48.350 --> 00:12:48.360 align:start position:0% subtract in a different amount and each 00:12:48.360 --> 00:12:49.610 align:start position:0% subtract in a different amount and each time<00:12:48.540> you<00:12:48.720> subtract<00:12:49.019> you're<00:12:49.260> going<00:12:49.380> to<00:12:49.440> make<00:12:49.560> a 00:12:49.610 --> 00:12:49.620 align:start position:0% time you subtract you're going to make a 00:12:49.620 --> 00:12:51.410 align:start position:0% time you subtract you're going to make a new<00:12:49.740> wallet<00:12:50.040> address<00:12:50.220> now<00:12:50.760> if<00:12:50.940> you<00:12:51.060> understood 00:12:51.410 --> 00:12:51.420 align:start position:0% new wallet address now if you understood 00:12:51.420 --> 00:12:54.050 align:start position:0% new wallet address now if you understood that<00:12:51.660> you<00:12:52.260> were<00:12:52.380> probably<00:12:52.620> Afflicted<00:12:53.160> with<00:12:53.519> a 00:12:54.050 --> 00:12:54.060 align:start position:0% that you were probably Afflicted with a 00:12:54.060 --> 00:12:56.750 align:start position:0% that you were probably Afflicted with a terrible<00:12:54.360> disease<00:12:54.779> you're<00:12:55.560> probably<00:12:55.800> a 00:12:56.750 --> 00:12:56.760 align:start position:0% terrible disease you're probably a 00:12:56.760 --> 00:12:58.490 align:start position:0% terrible disease you're probably a developer<00:12:57.180> and<00:12:57.660> I'm<00:12:57.779> sorry<00:12:57.959> to<00:12:58.139> say<00:12:58.260> it's 00:12:58.490 --> 00:12:58.500 align:start position:0% developer and I'm sorry to say it's 00:12:58.500 --> 00:13:00.110 align:start position:0% developer and I'm sorry to say it's terminal<00:12:58.920> okay<00:12:59.339> maybe<00:12:59.579> that<00:12:59.820> joke<00:12:59.940> wasn't 00:13:00.110 --> 00:13:00.120 align:start position:0% terminal okay maybe that joke wasn't 00:13:00.120 --> 00:13:02.810 align:start position:0% terminal okay maybe that joke wasn't that<00:13:00.360> good<00:13:00.480> okay 00:13:02.810 --> 00:13:02.820 align:start position:0% that good okay 00:13:02.820 --> 00:13:04.490 align:start position:0% that good okay um but<00:13:03.120> for<00:13:03.480> normal<00:13:03.600> people<00:13:03.899> that's<00:13:04.139> like<00:13:04.320> way 00:13:04.490 --> 00:13:04.500 align:start position:0% um but for normal people that's like way 00:13:04.500 --> 00:13:05.750 align:start position:0% um but for normal people that's like way too<00:13:04.680> much<00:13:04.800> okay<00:13:05.160> they're<00:13:05.399> not<00:13:05.519> going<00:13:05.639> to<00:13:05.700> be 00:13:05.750 --> 00:13:05.760 align:start position:0% too much okay they're not going to be 00:13:05.760 --> 00:13:07.550 align:start position:0% too much okay they're not going to be able<00:13:05.880> to<00:13:06.060> do<00:13:06.180> that<00:13:06.420> you<00:13:07.200> need<00:13:07.320> something 00:13:07.550 --> 00:13:07.560 align:start position:0% able to do that you need something 00:13:07.560 --> 00:13:09.590 align:start position:0% able to do that you need something that's<00:13:07.800> more<00:13:07.980> akin<00:13:08.279> to<00:13:08.399> venmo<00:13:08.760> you<00:13:09.240> can<00:13:09.300> easily 00:13:09.590 --> 00:13:09.600 align:start position:0% that's more akin to venmo you can easily 00:13:09.600 --> 00:13:11.870 align:start position:0% that's more akin to venmo you can easily swap<00:13:09.899> between<00:13:10.139> private<00:13:10.620> and<00:13:10.740> public<00:13:10.980> and<00:13:11.579> you 00:13:11.870 --> 00:13:11.880 align:start position:0% swap between private and public and you 00:13:11.880 --> 00:13:13.069 align:start position:0% swap between private and public and you can<00:13:11.940> be<00:13:12.180> given<00:13:12.420> a<00:13:12.540> little<00:13:12.600> warning<00:13:12.899> that 00:13:13.069 --> 00:13:13.079 align:start position:0% can be given a little warning that 00:13:13.079 --> 00:13:14.870 align:start position:0% can be given a little warning that prompts<00:13:13.440> you<00:13:13.560> hey<00:13:14.040> this<00:13:14.279> is<00:13:14.399> public<00:13:14.579> people 00:13:14.870 --> 00:13:14.880 align:start position:0% prompts you hey this is public people 00:13:14.880 --> 00:13:16.190 align:start position:0% prompts you hey this is public people will<00:13:15.120> read<00:13:15.240> it<00:13:15.420> in<00:13:15.540> the<00:13:15.600> future<00:13:15.720> do<00:13:16.079> you 00:13:16.190 --> 00:13:16.200 align:start position:0% will read it in the future do you 00:13:16.200 --> 00:13:17.629 align:start position:0% will read it in the future do you understand<00:13:16.320> those<00:13:16.620> implications<00:13:17.100> and 00:13:17.629 --> 00:13:17.639 align:start position:0% understand those implications and 00:13:17.639 --> 00:13:19.210 align:start position:0% understand those implications and finally<00:13:17.940> the<00:13:18.120> fees<00:13:18.420> need<00:13:18.540> to<00:13:18.660> be<00:13:18.779> reasonable 00:13:19.210 --> 00:13:19.220 align:start position:0% finally the fees need to be reasonable 00:13:19.220 --> 00:13:22.370 align:start position:0% finally the fees need to be reasonable uh<00:13:20.220> in<00:13:20.519> a<00:13:20.760> setting<00:13:21.000> where<00:13:21.240> you<00:13:21.540> spend<00:13:21.899> in<00:13:22.260> your 00:13:22.370 --> 00:13:22.380 align:start position:0% uh in a setting where you spend in your 00:13:22.380 --> 00:13:23.810 align:start position:0% uh in a setting where you spend in your entire<00:13:22.680> day<00:13:22.860> less<00:13:23.100> than<00:13:23.279> two<00:13:23.399> dollars<00:13:23.700> and 00:13:23.810 --> 00:13:23.820 align:start position:0% entire day less than two dollars and 00:13:23.820 --> 00:13:25.430 align:start position:0% entire day less than two dollars and fifteen<00:13:24.120> cents<00:13:24.360> to<00:13:24.600> feed<00:13:24.779> and<00:13:25.019> house<00:13:25.200> and 00:13:25.430 --> 00:13:25.440 align:start position:0% fifteen cents to feed and house and 00:13:25.440 --> 00:13:26.389 align:start position:0% fifteen cents to feed and house and everything 00:13:26.389 --> 00:13:26.399 align:start position:0% everything 00:13:26.399 --> 00:13:28.730 align:start position:0% everything even<00:13:26.880> a<00:13:27.060> fee<00:13:27.300> that's<00:13:27.420> five<00:13:27.660> cents<00:13:28.079> kind<00:13:28.620> of 00:13:28.730 --> 00:13:28.740 align:start position:0% even a fee that's five cents kind of 00:13:28.740 --> 00:13:30.230 align:start position:0% even a fee that's five cents kind of precludes<00:13:29.100> you<00:13:29.279> from<00:13:29.459> doing<00:13:29.639> stuff<00:13:29.880> on<00:13:30.120> an 00:13:30.230 --> 00:13:30.240 align:start position:0% precludes you from doing stuff on an 00:13:30.240 --> 00:13:31.970 align:start position:0% precludes you from doing stuff on an everyday<00:13:30.360> basis<00:13:30.899> you<00:13:31.200> know<00:13:31.260> you<00:13:31.440> buy<00:13:31.800> three 00:13:31.970 --> 00:13:31.980 align:start position:0% everyday basis you know you buy three 00:13:31.980 --> 00:13:33.949 align:start position:0% everyday basis you know you buy three meals<00:13:32.279> you<00:13:32.459> spend<00:13:32.639> 15<00:13:32.880> cents<00:13:33.300> you're<00:13:33.779> getting 00:13:33.949 --> 00:13:33.959 align:start position:0% meals you spend 15 cents you're getting 00:13:33.959 --> 00:13:36.410 align:start position:0% meals you spend 15 cents you're getting close<00:13:34.200> to<00:13:34.440> spending<00:13:34.800> 10<00:13:34.980> or<00:13:35.160> 20<00:13:35.339> percent<00:13:35.639> of 00:13:36.410 --> 00:13:36.420 align:start position:0% close to spending 10 or 20 percent of 00:13:36.420 --> 00:13:39.110 align:start position:0% close to spending 10 or 20 percent of your<00:13:36.540> daily<00:13:36.720> budget<00:13:37.079> just<00:13:37.320> on<00:13:37.500> fees<00:13:37.800> so<00:13:38.519> going 00:13:39.110 --> 00:13:39.120 align:start position:0% your daily budget just on fees so going 00:13:39.120 --> 00:13:41.269 align:start position:0% your daily budget just on fees so going to<00:13:39.600> extremely<00:13:40.019> extremely<00:13:40.440> low<00:13:40.620> fees<00:13:40.920> can<00:13:41.100> be 00:13:41.269 --> 00:13:41.279 align:start position:0% to extremely extremely low fees can be 00:13:41.279 --> 00:13:43.430 align:start position:0% to extremely extremely low fees can be important<00:13:41.639> and<00:13:42.600> given<00:13:42.899> that<00:13:43.019> privacy 00:13:43.430 --> 00:13:43.440 align:start position:0% important and given that privacy 00:13:43.440 --> 00:13:45.949 align:start position:0% important and given that privacy features<00:13:43.920> generally<00:13:44.279> require<00:13:44.639> more<00:13:45.060> gas<00:13:45.240> more 00:13:45.949 --> 00:13:45.959 align:start position:0% features generally require more gas more 00:13:45.959 --> 00:13:48.290 align:start position:0% features generally require more gas more uh<00:13:46.440> transaction<00:13:46.860> fees<00:13:47.279> you<00:13:47.820> know<00:13:47.880> this<00:13:48.000> is<00:13:48.120> a 00:13:48.290 --> 00:13:48.300 align:start position:0% uh transaction fees you know this is a 00:13:48.300 --> 00:13:49.670 align:start position:0% uh transaction fees you know this is a challenge<00:13:48.420> and<00:13:48.720> luckily<00:13:49.139> there<00:13:49.320> are<00:13:49.440> a<00:13:49.500> lot<00:13:49.560> of 00:13:49.670 --> 00:13:49.680 align:start position:0% challenge and luckily there are a lot of 00:13:49.680 --> 00:13:52.069 align:start position:0% challenge and luckily there are a lot of Solutions<00:13:50.120> on<00:13:51.120> the<00:13:51.180> roadmap<00:13:51.540> to<00:13:51.779> help<00:13:51.899> with 00:13:52.069 --> 00:13:52.079 align:start position:0% Solutions on the roadmap to help with 00:13:52.079 --> 00:13:55.190 align:start position:0% Solutions on the roadmap to help with those<00:13:52.200> scaling<00:13:52.620> issues<00:13:53.040> so<00:13:53.880> if<00:13:54.660> we<00:13:54.779> assume 00:13:55.190 --> 00:13:55.200 align:start position:0% those scaling issues so if we assume 00:13:55.200 --> 00:13:58.250 align:start position:0% those scaling issues so if we assume that<00:13:55.440> we<00:13:55.620> exist<00:13:55.980> in<00:13:56.160> this<00:13:56.399> private<00:13:56.820> L2<00:13:57.540> in<00:13:58.200> a 00:13:58.250 --> 00:13:58.260 align:start position:0% that we exist in this private L2 in a 00:13:58.260 --> 00:13:59.990 align:start position:0% that we exist in this private L2 in a future<00:13:58.380> State<00:13:58.680> maybe<00:13:58.980> post<00:13:59.279> surge<00:13:59.700> where<00:13:59.880> the 00:13:59.990 --> 00:14:00.000 align:start position:0% future State maybe post surge where the 00:14:00.000 --> 00:14:02.990 align:start position:0% future State maybe post surge where the fees<00:14:00.240> are<00:14:00.360> low<00:14:01.019> uh<00:14:01.980> we<00:14:02.459> still<00:14:02.579> need<00:14:02.760> to<00:14:02.880> think 00:14:02.990 --> 00:14:03.000 align:start position:0% fees are low uh we still need to think 00:14:03.000 --> 00:14:04.850 align:start position:0% fees are low uh we still need to think about<00:14:03.180> how<00:14:03.540> do<00:14:03.660> we<00:14:03.839> actualize<00:14:04.320> this<00:14:04.500> how<00:14:04.680> do<00:14:04.740> we 00:14:04.850 --> 00:14:04.860 align:start position:0% about how do we actualize this how do we 00:14:04.860 --> 00:14:06.350 align:start position:0% about how do we actualize this how do we bring<00:14:04.980> it<00:14:05.100> into<00:14:05.220> the<00:14:05.399> real<00:14:05.579> world<00:14:05.760> and<00:14:06.180> have 00:14:06.350 --> 00:14:06.360 align:start position:0% bring it into the real world and have 00:14:06.360 --> 00:14:08.090 align:start position:0% bring it into the real world and have people<00:14:06.540> comfortable<00:14:06.959> with<00:14:07.320> it<00:14:07.440> existing<00:14:07.920> in 00:14:08.090 --> 00:14:08.100 align:start position:0% people comfortable with it existing in 00:14:08.100 --> 00:14:09.949 align:start position:0% people comfortable with it existing in their<00:14:08.220> country<00:14:08.399> I<00:14:09.000> think<00:14:09.120> it's<00:14:09.300> important<00:14:09.660> to 00:14:09.949 --> 00:14:09.959 align:start position:0% their country I think it's important to 00:14:09.959 --> 00:14:11.690 align:start position:0% their country I think it's important to think<00:14:10.139> about<00:14:10.320> in<00:14:10.620> this<00:14:10.800> hybrid<00:14:11.040> model<00:14:11.279> where 00:14:11.690 --> 00:14:11.700 align:start position:0% think about in this hybrid model where 00:14:11.700 --> 00:14:13.610 align:start position:0% think about in this hybrid model where there<00:14:11.820> are<00:14:12.000> real<00:14:12.120> world<00:14:12.300> activities<00:14:13.260> but 00:14:13.610 --> 00:14:13.620 align:start position:0% there are real world activities but 00:14:13.620 --> 00:14:16.970 align:start position:0% there are real world activities but there's<00:14:13.800> also<00:14:14.420> uh<00:14:15.420> blockchain<00:14:16.260> underlying 00:14:16.970 --> 00:14:16.980 align:start position:0% there's also uh blockchain underlying 00:14:16.980 --> 00:14:20.629 align:start position:0% there's also uh blockchain underlying the<00:14:17.160> mechanisms<00:14:17.760> that<00:14:18.740> we<00:14:19.740> can<00:14:20.100> have 00:14:20.629 --> 00:14:20.639 align:start position:0% the mechanisms that we can have 00:14:20.639 --> 00:14:22.910 align:start position:0% the mechanisms that we can have censorship<00:14:21.120> resistance<00:14:21.660> as<00:14:21.959> a<00:14:22.139> feature<00:14:22.500> but 00:14:22.910 --> 00:14:22.920 align:start position:0% censorship resistance as a feature but 00:14:22.920 --> 00:14:25.069 align:start position:0% censorship resistance as a feature but we<00:14:23.160> can't<00:14:23.279> have<00:14:23.459> it<00:14:23.639> as<00:14:23.820> a<00:14:23.940> strategy<00:14:24.300> and<00:14:24.959> what 00:14:25.069 --> 00:14:25.079 align:start position:0% we can't have it as a strategy and what 00:14:25.079 --> 00:14:27.350 align:start position:0% we can't have it as a strategy and what do<00:14:25.200> I<00:14:25.320> mean<00:14:25.440> by<00:14:25.620> that<00:14:25.800> I<00:14:26.339> often<00:14:26.579> hear<00:14:26.700> proposals 00:14:27.350 --> 00:14:27.360 align:start position:0% do I mean by that I often hear proposals 00:14:27.360 --> 00:14:28.790 align:start position:0% do I mean by that I often hear proposals of<00:14:27.480> people<00:14:27.660> who<00:14:27.899> may<00:14:28.019> not<00:14:28.200> be<00:14:28.380> thinking<00:14:28.680> about 00:14:28.790 --> 00:14:28.800 align:start position:0% of people who may not be thinking about 00:14:28.800 --> 00:14:30.470 align:start position:0% of people who may not be thinking about the<00:14:29.160> recipients<00:14:29.700> or<00:14:29.820> people<00:14:30.000> in<00:14:30.180> extreme 00:14:30.470 --> 00:14:30.480 align:start position:0% the recipients or people in extreme 00:14:30.480 --> 00:14:32.329 align:start position:0% the recipients or people in extreme poverty<00:14:30.839> and<00:14:30.959> they<00:14:31.139> say<00:14:31.260> something<00:14:31.500> like 00:14:32.329 --> 00:14:32.339 align:start position:0% poverty and they say something like 00:14:32.339 --> 00:14:34.730 align:start position:0% poverty and they say something like oh<00:14:32.940> okay<00:14:33.240> if<00:14:33.480> if<00:14:33.660> people<00:14:34.139> don't<00:14:34.380> like<00:14:34.560> this 00:14:34.730 --> 00:14:34.740 align:start position:0% oh okay if if people don't like this 00:14:34.740 --> 00:14:36.650 align:start position:0% oh okay if if people don't like this we'll<00:14:35.040> go<00:14:35.220> the<00:14:35.339> permissionless<00:14:35.820> route<00:14:36.060> just 00:14:36.650 --> 00:14:36.660 align:start position:0% we'll go the permissionless route just 00:14:36.660 --> 00:14:38.690 align:start position:0% we'll go the permissionless route just try<00:14:36.779> to<00:14:36.959> ban<00:14:37.200> us<00:14:37.380> just<00:14:37.740> try<00:14:37.920> to<00:14:38.100> just<00:14:38.339> try<00:14:38.519> to 00:14:38.690 --> 00:14:38.700 align:start position:0% try to ban us just try to just try to 00:14:38.700 --> 00:14:39.829 align:start position:0% try to ban us just try to just try to stop<00:14:38.820> us<00:14:39.000> you<00:14:39.240> can't<00:14:39.360> really<00:14:39.540> it's 00:14:39.829 --> 00:14:39.839 align:start position:0% stop us you can't really it's 00:14:39.839 --> 00:14:42.050 align:start position:0% stop us you can't really it's decentralized<00:14:40.620> so<00:14:41.160> that<00:14:41.279> works<00:14:41.699> if<00:14:41.940> you're 00:14:42.050 --> 00:14:42.060 align:start position:0% decentralized so that works if you're 00:14:42.060 --> 00:14:44.030 align:start position:0% decentralized so that works if you're only<00:14:42.240> making<00:14:42.420> a<00:14:42.660> financial<00:14:42.839> product<00:14:43.260> and 00:14:44.030 --> 00:14:44.040 align:start position:0% only making a financial product and 00:14:44.040 --> 00:14:47.329 align:start position:0% only making a financial product and you're<00:14:44.220> okay<00:14:44.459> uh<00:14:45.360> with<00:14:45.720> uh<00:14:46.139> operating<00:14:46.560> in<00:14:46.920> a<00:14:47.100> in 00:14:47.329 --> 00:14:47.339 align:start position:0% you're okay uh with uh operating in a in 00:14:47.339 --> 00:14:48.530 align:start position:0% you're okay uh with uh operating in a in a 00:14:48.530 --> 00:14:48.540 align:start position:0% a 00:14:48.540 --> 00:14:50.750 align:start position:0% a hidden<00:14:49.079> manner<00:14:49.440> but<00:14:50.100> the<00:14:50.279> moment<00:14:50.519> that<00:14:50.639> you 00:14:50.750 --> 00:14:50.760 align:start position:0% hidden manner but the moment that you 00:14:50.760 --> 00:14:52.189 align:start position:0% hidden manner but the moment that you think<00:14:50.940> about<00:14:51.060> a<00:14:51.240> hybrid<00:14:51.540> method<00:14:51.839> where<00:14:52.019> you 00:14:52.189 --> 00:14:52.199 align:start position:0% think about a hybrid method where you 00:14:52.199 --> 00:14:53.569 align:start position:0% think about a hybrid method where you actually<00:14:52.320> need<00:14:52.560> to<00:14:52.680> go<00:14:52.860> out<00:14:52.980> and<00:14:53.220> meet<00:14:53.399> people 00:14:53.569 --> 00:14:53.579 align:start position:0% actually need to go out and meet people 00:14:53.579 --> 00:14:55.009 align:start position:0% actually need to go out and meet people and<00:14:53.820> build<00:14:54.000> rapport<00:14:54.420> and<00:14:54.600> you<00:14:54.720> need<00:14:54.839> to<00:14:54.899> follow 00:14:55.009 --> 00:14:55.019 align:start position:0% and build rapport and you need to follow 00:14:55.019 --> 00:14:57.250 align:start position:0% and build rapport and you need to follow up<00:14:55.260> with<00:14:55.500> them<00:14:55.680> all<00:14:56.339> those 00:14:57.250 --> 00:14:57.260 align:start position:0% up with them all those 00:14:57.260 --> 00:14:59.689 align:start position:0% up with them all those activities<00:14:58.260> become<00:14:58.620> impossible<00:14:59.100> with<00:14:59.519> that 00:14:59.689 --> 00:14:59.699 align:start position:0% activities become impossible with that 00:14:59.699 --> 00:15:01.970 align:start position:0% activities become impossible with that approach<00:15:00.060> now<00:15:00.839> what's<00:15:01.199> what's<00:15:01.500> a<00:15:01.860> good 00:15:01.970 --> 00:15:01.980 align:start position:0% approach now what's what's a good 00:15:01.980 --> 00:15:04.430 align:start position:0% approach now what's what's a good example<00:15:02.459> of<00:15:02.880> censorship<00:15:03.300> resistance 00:15:04.430 --> 00:15:04.440 align:start position:0% example of censorship resistance 00:15:04.440 --> 00:15:06.949 align:start position:0% example of censorship resistance you<00:15:05.040> might<00:15:05.220> be<00:15:05.459> in<00:15:05.820> a<00:15:05.940> refugee<00:15:06.360> camp<00:15:06.600> and 00:15:06.949 --> 00:15:06.959 align:start position:0% you might be in a refugee camp and 00:15:06.959 --> 00:15:09.290 align:start position:0% you might be in a refugee camp and refugees<00:15:07.680> are<00:15:08.339> of<00:15:08.639> course<00:15:08.699> in<00:15:09.060> a<00:15:09.240> very 00:15:09.290 --> 00:15:09.300 align:start position:0% refugees are of course in a very 00:15:09.300 --> 00:15:11.090 align:start position:0% refugees are of course in a very precarious<00:15:09.720> situation<00:15:10.260> they<00:15:10.860> may<00:15:10.980> be 00:15:11.090 --> 00:15:11.100 align:start position:0% precarious situation they may be 00:15:11.100 --> 00:15:13.129 align:start position:0% precarious situation they may be re-housed<00:15:11.639> moved<00:15:12.000> somewhere<00:15:12.240> else<00:15:12.360> depending 00:15:13.129 --> 00:15:13.139 align:start position:0% re-housed moved somewhere else depending 00:15:13.139 --> 00:15:15.590 align:start position:0% re-housed moved somewhere else depending on<00:15:13.380> political<00:15:13.860> changes<00:15:14.639> they<00:15:14.940> might<00:15:15.180> be 00:15:15.590 --> 00:15:15.600 align:start position:0% on political changes they might be 00:15:15.600 --> 00:15:17.269 align:start position:0% on political changes they might be supported<00:15:15.959> in<00:15:16.139> one<00:15:16.320> regime<00:15:16.620> and<00:15:16.800> not<00:15:16.980> the<00:15:17.100> next 00:15:17.269 --> 00:15:17.279 align:start position:0% supported in one regime and not the next 00:15:17.279 --> 00:15:19.189 align:start position:0% supported in one regime and not the next and<00:15:18.000> so<00:15:18.120> it<00:15:18.240> is<00:15:18.420> really<00:15:18.540> important<00:15:18.839> in<00:15:19.019> those 00:15:19.189 --> 00:15:19.199 align:start position:0% and so it is really important in those 00:15:19.199 --> 00:15:21.170 align:start position:0% and so it is really important in those cases<00:15:19.500> that<00:15:19.860> we<00:15:20.040> have<00:15:20.220> something<00:15:20.459> which<00:15:20.940> is 00:15:21.170 --> 00:15:21.180 align:start position:0% cases that we have something which is 00:15:21.180 --> 00:15:23.210 align:start position:0% cases that we have something which is really<00:15:21.540> owned<00:15:21.899> by<00:15:21.959> the<00:15:22.139> people<00:15:22.260> themselves<00:15:22.800> so 00:15:23.210 --> 00:15:23.220 align:start position:0% really owned by the people themselves so 00:15:23.220 --> 00:15:24.530 align:start position:0% really owned by the people themselves so if<00:15:23.639> they're<00:15:23.820> changed<00:15:24.120> if<00:15:24.240> they<00:15:24.360> move 00:15:24.530 --> 00:15:24.540 align:start position:0% if they're changed if they move 00:15:24.540 --> 00:15:26.090 align:start position:0% if they're changed if they move somewhere<00:15:24.899> else<00:15:25.079> if<00:15:25.380> they<00:15:25.560> go<00:15:25.680> to<00:15:25.800> a<00:15:25.980> place 00:15:26.090 --> 00:15:26.100 align:start position:0% somewhere else if they go to a place 00:15:26.100 --> 00:15:28.009 align:start position:0% somewhere else if they go to a place where<00:15:26.279> different<00:15:26.579> Telco<00:15:27.000> operates 00:15:28.009 --> 00:15:28.019 align:start position:0% where different Telco operates 00:15:28.019 --> 00:15:29.569 align:start position:0% where different Telco operates all<00:15:28.500> their<00:15:28.620> funds<00:15:28.920> and<00:15:29.040> their<00:15:29.160> livelihood 00:15:29.569 --> 00:15:29.579 align:start position:0% all their funds and their livelihood 00:15:29.579 --> 00:15:31.250 align:start position:0% all their funds and their livelihood isn't<00:15:29.820> tied<00:15:30.000> up<00:15:30.120> in<00:15:30.240> Mobile<00:15:30.420> money<00:15:30.720> it's 00:15:31.250 --> 00:15:31.260 align:start position:0% isn't tied up in Mobile money it's 00:15:31.260 --> 00:15:32.629 align:start position:0% isn't tied up in Mobile money it's something<00:15:31.500> that<00:15:31.800> they<00:15:31.920> can<00:15:32.040> continue<00:15:32.220> to<00:15:32.519> have 00:15:32.629 --> 00:15:32.639 align:start position:0% something that they can continue to have 00:15:32.639 --> 00:15:35.269 align:start position:0% something that they can continue to have access<00:15:32.880> to<00:15:33.180> so<00:15:33.839> if<00:15:34.079> we<00:15:34.199> assume<00:15:34.620> that<00:15:34.860> we<00:15:35.160> have 00:15:35.269 --> 00:15:35.279 align:start position:0% access to so if we assume that we have 00:15:35.279 --> 00:15:38.030 align:start position:0% access to so if we assume that we have cryptography<00:15:36.000> and<00:15:36.779> we<00:15:37.260> are<00:15:37.440> going<00:15:37.620> to<00:15:37.800> try<00:15:37.920> to 00:15:38.030 --> 00:15:38.040 align:start position:0% cryptography and we are going to try to 00:15:38.040 --> 00:15:41.170 align:start position:0% cryptography and we are going to try to work<00:15:38.160> with<00:15:38.399> governments<00:15:38.940> and<00:15:39.480> have<00:15:39.959> uh 00:15:41.170 --> 00:15:41.180 align:start position:0% work with governments and have uh 00:15:41.180 --> 00:15:44.290 align:start position:0% work with governments and have uh this<00:15:42.180> be<00:15:42.779> a<00:15:42.959> force<00:15:43.199> for<00:15:43.380> good<00:15:43.560> government 00:15:44.290 --> 00:15:44.300 align:start position:0% this be a force for good government 00:15:44.300 --> 00:15:46.430 align:start position:0% this be a force for good government we<00:15:45.300> are 00:15:46.430 --> 00:15:46.440 align:start position:0% we are 00:15:46.440 --> 00:15:49.069 align:start position:0% we are going<00:15:46.920> to<00:15:47.100> need<00:15:47.279> a<00:15:47.519> couple<00:15:47.639> more<00:15:47.820> features<00:15:48.240> so 00:15:49.069 --> 00:15:49.079 align:start position:0% going to need a couple more features so 00:15:49.079 --> 00:15:51.949 align:start position:0% going to need a couple more features so selective<00:15:49.800> disclosure<00:15:50.279> would<00:15:50.519> allow<00:15:50.820> us<00:15:50.959> to 00:15:51.949 --> 00:15:51.959 align:start position:0% selective disclosure would allow us to 00:15:51.959 --> 00:15:54.530 align:start position:0% selective disclosure would allow us to continue<00:15:52.199> to<00:15:52.560> have<00:15:52.680> the<00:15:52.980> kinds<00:15:53.339> of<00:15:53.540> systems 00:15:54.530 --> 00:15:54.540 align:start position:0% continue to have the kinds of systems 00:15:54.540 --> 00:15:56.150 align:start position:0% continue to have the kinds of systems and<00:15:54.779> institutions<00:15:55.260> in<00:15:55.560> place<00:15:55.740> that 00:15:56.150 --> 00:15:56.160 align:start position:0% and institutions in place that 00:15:56.160 --> 00:15:58.970 align:start position:0% and institutions in place that Democratic<00:15:56.880> societies<00:15:57.360> often<00:15:57.839> create<00:15:58.019> so<00:15:58.620> I'm 00:15:58.970 --> 00:15:58.980 align:start position:0% Democratic societies often create so I'm 00:15:58.980 --> 00:16:00.530 align:start position:0% Democratic societies often create so I'm talking<00:15:59.160> about<00:15:59.399> having<00:15:59.639> legal<00:16:00.060> recourse 00:16:00.530 --> 00:16:00.540 align:start position:0% talking about having legal recourse 00:16:00.540 --> 00:16:03.050 align:start position:0% talking about having legal recourse having<00:16:00.660> regulations<00:16:01.260> even<00:16:01.740> taxation 00:16:03.050 --> 00:16:03.060 align:start position:0% having regulations even taxation 00:16:03.060 --> 00:16:04.550 align:start position:0% having regulations even taxation and<00:16:03.360> I<00:16:03.480> know<00:16:03.600> that's<00:16:03.779> not<00:16:04.019> a<00:16:04.260> really<00:16:04.320> popular 00:16:04.550 --> 00:16:04.560 align:start position:0% and I know that's not a really popular 00:16:04.560 --> 00:16:07.129 align:start position:0% and I know that's not a really popular subject<00:16:05.220> but<00:16:05.880> I<00:16:06.120> just<00:16:06.240> want<00:16:06.360> to<00:16:06.540> imagine<00:16:06.660> for<00:16:07.019> a 00:16:07.129 --> 00:16:07.139 align:start position:0% subject but I just want to imagine for a 00:16:07.139 --> 00:16:10.009 align:start position:0% subject but I just want to imagine for a moment<00:16:07.380> if<00:16:08.279> somebody<00:16:08.519> was<00:16:09.360> interacting<00:16:09.899> with 00:16:10.009 --> 00:16:10.019 align:start position:0% moment if somebody was interacting with 00:16:10.019 --> 00:16:13.629 align:start position:0% moment if somebody was interacting with you<00:16:10.199> in<00:16:10.620> a<00:16:10.800> truly<00:16:11.040> fully<00:16:11.279> private<00:16:11.639> system<00:16:12.079> and 00:16:13.629 --> 00:16:13.639 align:start position:0% you in a truly fully private system and 00:16:13.639 --> 00:16:16.129 align:start position:0% you in a truly fully private system and they<00:16:14.639> claim<00:16:14.940> they<00:16:15.060> pay<00:16:15.240> you<00:16:15.420> and<00:16:15.779> you<00:16:15.899> claim 00:16:16.129 --> 00:16:16.139 align:start position:0% they claim they pay you and you claim 00:16:16.139 --> 00:16:17.509 align:start position:0% they claim they pay you and you claim they<00:16:16.260> never<00:16:16.440> paid<00:16:16.680> you<00:16:16.800> and<00:16:16.980> you<00:16:17.100> sue<00:16:17.279> each 00:16:17.509 --> 00:16:17.519 align:start position:0% they never paid you and you sue each 00:16:17.519 --> 00:16:18.949 align:start position:0% they never paid you and you sue each other<00:16:17.639> and<00:16:17.880> you<00:16:18.000> go<00:16:18.120> to<00:16:18.240> court<00:16:18.420> and<00:16:18.720> you're<00:16:18.839> in 00:16:18.949 --> 00:16:18.959 align:start position:0% other and you go to court and you're in 00:16:18.959 --> 00:16:20.030 align:start position:0% other and you go to court and you're in Discovery 00:16:20.030 --> 00:16:20.040 align:start position:0% Discovery 00:16:20.040 --> 00:16:22.189 align:start position:0% Discovery ideally<00:16:20.760> you<00:16:21.000> should<00:16:21.180> be<00:16:21.300> able<00:16:21.420> to<00:16:21.600> say<00:16:21.779> to<00:16:22.019> the 00:16:22.189 --> 00:16:22.199 align:start position:0% ideally you should be able to say to the 00:16:22.199 --> 00:16:23.990 align:start position:0% ideally you should be able to say to the person<00:16:22.320> who<00:16:22.560> said<00:16:22.740> that<00:16:22.920> they<00:16:23.100> paid 00:16:23.990 --> 00:16:24.000 align:start position:0% person who said that they paid 00:16:24.000 --> 00:16:26.689 align:start position:0% person who said that they paid prove<00:16:24.540> that<00:16:24.600> I<00:16:24.779> paid<00:16:25.220> and<00:16:26.220> they<00:16:26.399> should<00:16:26.579> be 00:16:26.689 --> 00:16:26.699 align:start position:0% prove that I paid and they should be 00:16:26.699 --> 00:16:29.210 align:start position:0% prove that I paid and they should be able<00:16:26.820> to<00:16:26.940> do<00:16:27.060> that<00:16:27.240> without<00:16:27.980> exposing<00:16:28.980> their 00:16:29.210 --> 00:16:29.220 align:start position:0% able to do that without exposing their 00:16:29.220 --> 00:16:30.710 align:start position:0% able to do that without exposing their public<00:16:29.399> key<00:16:29.699> with<00:16:30.000> or<00:16:30.180> their<00:16:30.300> private<00:16:30.600> key 00:16:30.710 --> 00:16:30.720 align:start position:0% public key with or their private key 00:16:30.720 --> 00:16:32.629 align:start position:0% public key with or their private key rather<00:16:31.019> without<00:16:31.560> giving<00:16:31.920> you<00:16:32.100> access<00:16:32.339> to 00:16:32.629 --> 00:16:32.639 align:start position:0% rather without giving you access to 00:16:32.639 --> 00:16:33.829 align:start position:0% rather without giving you access to their<00:16:32.760> funds<00:16:33.000> they<00:16:33.180> should<00:16:33.360> just<00:16:33.540> show<00:16:33.720> you 00:16:33.829 --> 00:16:33.839 align:start position:0% their funds they should just show you 00:16:33.839 --> 00:16:35.269 align:start position:0% their funds they should just show you that<00:16:34.079> one<00:16:34.260> transaction 00:16:35.269 --> 00:16:35.279 align:start position:0% that one transaction 00:16:35.279 --> 00:16:37.970 align:start position:0% that one transaction so<00:16:36.000> that<00:16:36.420> would<00:16:36.540> be<00:16:36.660> an<00:16:36.839> example<00:16:37.079> of<00:16:37.380> how<00:16:37.680> I 00:16:37.970 --> 00:16:37.980 align:start position:0% so that would be an example of how I 00:16:37.980 --> 00:16:39.410 align:start position:0% so that would be an example of how I think<00:16:38.220> presently<00:16:38.579> we<00:16:38.759> have<00:16:38.880> some<00:16:39.120> solutions 00:16:39.410 --> 00:16:39.420 align:start position:0% think presently we have some solutions 00:16:39.420 --> 00:16:40.970 align:start position:0% think presently we have some solutions where<00:16:39.720> there's<00:16:39.839> a<00:16:40.019> viewing<00:16:40.320> key<00:16:40.440> you<00:16:40.680> can<00:16:40.800> see 00:16:40.970 --> 00:16:40.980 align:start position:0% where there's a viewing key you can see 00:16:40.980 --> 00:16:42.829 align:start position:0% where there's a viewing key you can see everything<00:16:41.339> that<00:16:41.699> ever<00:16:41.940> happened<00:16:42.180> associated 00:16:42.829 --> 00:16:42.839 align:start position:0% everything that ever happened associated 00:16:42.839 --> 00:16:44.870 align:start position:0% everything that ever happened associated with<00:16:43.019> that<00:16:43.139> account<00:16:43.320> that's<00:16:44.279> probably<00:16:44.579> a 00:16:44.870 --> 00:16:44.880 align:start position:0% with that account that's probably a 00:16:44.880 --> 00:16:48.050 align:start position:0% with that account that's probably a little<00:16:45.000> bit<00:16:45.120> invasive<00:16:45.600> of<00:16:45.779> privacy<00:16:46.399> and<00:16:47.399> so<00:16:47.639> I 00:16:48.050 --> 00:16:48.060 align:start position:0% little bit invasive of privacy and so I 00:16:48.060 --> 00:16:50.749 align:start position:0% little bit invasive of privacy and so I look<00:16:48.300> forward<00:16:48.540> to<00:16:49.019> better<00:16:49.740> ZK<00:16:50.160> proofs<00:16:50.579> where 00:16:50.749 --> 00:16:50.759 align:start position:0% look forward to better ZK proofs where 00:16:50.759 --> 00:16:52.430 align:start position:0% look forward to better ZK proofs where we<00:16:50.940> can<00:16:51.120> answer<00:16:51.360> the<00:16:51.720> specific<00:16:52.019> legal 00:16:52.430 --> 00:16:52.440 align:start position:0% we can answer the specific legal 00:16:52.440 --> 00:16:55.129 align:start position:0% we can answer the specific legal question<00:16:52.620> that's<00:16:52.920> at<00:16:53.160> hand<00:16:53.339> for<00:16:54.120> only<00:16:54.660> as<00:16:54.959> much 00:16:55.129 --> 00:16:55.139 align:start position:0% question that's at hand for only as much 00:16:55.139 --> 00:16:57.650 align:start position:0% question that's at hand for only as much information<00:16:55.380> as<00:16:55.920> needs<00:16:56.399> to<00:16:56.579> be<00:16:56.759> communicated 00:16:57.650 --> 00:16:57.660 align:start position:0% information as needs to be communicated 00:16:57.660 --> 00:17:00.050 align:start position:0% information as needs to be communicated to<00:16:58.139> resolve<00:16:58.500> the<00:16:58.560> issue<00:16:58.860> so<00:16:59.339> takeaways<00:16:59.880> from 00:17:00.050 --> 00:17:00.060 align:start position:0% to resolve the issue so takeaways from 00:17:00.060 --> 00:17:03.230 align:start position:0% to resolve the issue so takeaways from this<00:17:00.240> talk<00:17:00.420> I<00:17:01.199> hope<00:17:01.440> you<00:17:01.740> agree<00:17:02.459> that<00:17:02.699> ethereum 00:17:03.230 --> 00:17:03.240 align:start position:0% this talk I hope you agree that ethereum 00:17:03.240 --> 00:17:05.150 align:start position:0% this talk I hope you agree that ethereum is<00:17:03.360> for<00:17:03.540> every<00:17:03.720> person<00:17:04.020> and<00:17:04.740> if<00:17:04.919> we<00:17:05.040> think 00:17:05.150 --> 00:17:05.160 align:start position:0% is for every person and if we think 00:17:05.160 --> 00:17:07.549 align:start position:0% is for every person and if we think about<00:17:05.339> every<00:17:05.699> person<00:17:05.939> the<00:17:06.360> people<00:17:06.540> who<00:17:07.380> have 00:17:07.549 --> 00:17:07.559 align:start position:0% about every person the people who have 00:17:07.559 --> 00:17:09.110 align:start position:0% about every person the people who have the<00:17:07.740> most<00:17:07.860> to<00:17:08.040> gain<00:17:08.220> are<00:17:08.579> the<00:17:08.760> people<00:17:08.880> in 00:17:09.110 --> 00:17:09.120 align:start position:0% the most to gain are the people in 00:17:09.120 --> 00:17:11.329 align:start position:0% the most to gain are the people in extreme<00:17:09.480> poverty<00:17:09.959> or<00:17:10.380> in<00:17:10.620> places<00:17:10.799> where<00:17:11.160> their 00:17:11.329 --> 00:17:11.339 align:start position:0% extreme poverty or in places where their 00:17:11.339 --> 00:17:12.829 align:start position:0% extreme poverty or in places where their institutions<00:17:11.819> are<00:17:12.059> really<00:17:12.179> not<00:17:12.419> functioning 00:17:12.829 --> 00:17:12.839 align:start position:0% institutions are really not functioning 00:17:12.839 --> 00:17:14.449 align:start position:0% institutions are really not functioning very<00:17:13.079> well<00:17:13.260> today<00:17:13.439> we<00:17:13.980> have<00:17:14.100> to<00:17:14.220> think<00:17:14.339> about 00:17:14.449 --> 00:17:14.459 align:start position:0% very well today we have to think about 00:17:14.459 --> 00:17:16.250 align:start position:0% very well today we have to think about each<00:17:14.819> person<00:17:15.059> as<00:17:15.360> existing<00:17:15.780> in<00:17:15.959> their<00:17:16.079> own 00:17:16.250 --> 00:17:16.260 align:start position:0% each person as existing in their own 00:17:16.260 --> 00:17:18.409 align:start position:0% each person as existing in their own ecosystem<00:17:16.740> right<00:17:17.160> they<00:17:17.640> exist<00:17:18.000> in<00:17:18.120> a<00:17:18.240> house 00:17:18.409 --> 00:17:18.419 align:start position:0% ecosystem right they exist in a house 00:17:18.419 --> 00:17:19.789 align:start position:0% ecosystem right they exist in a house that<00:17:18.600> doesn't<00:17:18.780> have<00:17:18.959> locks<00:17:19.380> what<00:17:19.559> does<00:17:19.679> that 00:17:19.789 --> 00:17:19.799 align:start position:0% that doesn't have locks what does that 00:17:19.799 --> 00:17:20.870 align:start position:0% that doesn't have locks what does that mean<00:17:19.980> for<00:17:20.160> them 00:17:20.870 --> 00:17:20.880 align:start position:0% mean for them 00:17:20.880 --> 00:17:22.909 align:start position:0% mean for them they<00:17:21.419> exist<00:17:21.780> in<00:17:22.020> a<00:17:22.199> place<00:17:22.319> where<00:17:22.620> their 00:17:22.909 --> 00:17:22.919 align:start position:0% they exist in a place where their 00:17:22.919 --> 00:17:24.230 align:start position:0% they exist in a place where their government<00:17:23.100> is<00:17:23.339> going<00:17:23.520> to<00:17:23.640> need<00:17:23.760> to<00:17:23.880> be<00:17:24.059> a 00:17:24.230 --> 00:17:24.240 align:start position:0% government is going to need to be a 00:17:24.240 --> 00:17:25.850 align:start position:0% government is going to need to be a partner<00:17:24.660> if<00:17:24.900> we're<00:17:25.020> going<00:17:25.140> to<00:17:25.260> help<00:17:25.439> educate 00:17:25.850 --> 00:17:25.860 align:start position:0% partner if we're going to help educate 00:17:25.860 --> 00:17:27.409 align:start position:0% partner if we're going to help educate them<00:17:26.100> and<00:17:26.280> bring<00:17:26.459> them<00:17:26.640> services<00:17:26.819> in<00:17:27.240> real 00:17:27.409 --> 00:17:27.419 align:start position:0% them and bring them services in real 00:17:27.419 --> 00:17:31.070 align:start position:0% them and bring them services in real life<00:17:27.600> and<00:17:28.380> finally<00:17:28.880> I<00:17:29.880> would<00:17:30.000> like<00:17:30.179> to 00:17:31.070 --> 00:17:31.080 align:start position:0% life and finally I would like to 00:17:31.080 --> 00:17:32.690 align:start position:0% life and finally I would like to thank<00:17:31.500> everybody<00:17:31.740> for<00:17:32.160> their<00:17:32.280> work<00:17:32.460> and 00:17:32.690 --> 00:17:32.700 align:start position:0% thank everybody for their work and 00:17:32.700 --> 00:17:35.690 align:start position:0% thank everybody for their work and remind<00:17:32.880> you<00:17:33.120> that<00:17:33.360> today's<00:17:34.160> EIP<00:17:35.160> is 00:17:35.690 --> 00:17:35.700 align:start position:0% remind you that today's EIP is 00:17:35.700 --> 00:17:39.110 align:start position:0% remind you that today's EIP is tomorrow's<00:17:36.419> family<00:17:37.080> tree<00:17:37.500> that's<00:17:38.340> kind<00:17:38.940> of<00:17:39.059> a 00:17:39.110 --> 00:17:39.120 align:start position:0% tomorrow's family tree that's kind of a 00:17:39.120 --> 00:17:41.690 align:start position:0% tomorrow's family tree that's kind of a lame<00:17:39.360> rhyme<00:17:39.780> but<00:17:40.740> it's<00:17:40.980> the<00:17:41.160> case<00:17:41.280> that<00:17:41.520> some 00:17:41.690 --> 00:17:41.700 align:start position:0% lame rhyme but it's the case that some 00:17:41.700 --> 00:17:43.970 align:start position:0% lame rhyme but it's the case that some of<00:17:41.820> these<00:17:42.120> really<00:17:42.419> uh 00:17:43.970 --> 00:17:43.980 align:start position:0% of these really uh 00:17:43.980 --> 00:17:46.850 align:start position:0% of these really uh I<00:17:44.340> don't<00:17:44.520> know<00:17:44.640> Bland<00:17:45.539> or<00:17:46.020> at<00:17:46.320> seemingly<00:17:46.679> at 00:17:46.850 --> 00:17:46.860 align:start position:0% I don't know Bland or at seemingly at 00:17:46.860 --> 00:17:48.070 align:start position:0% I don't know Bland or at seemingly at first<00:17:46.980> glance 00:17:48.070 --> 00:17:48.080 align:start position:0% first glance 00:17:48.080 --> 00:17:50.870 align:start position:0% first glance not<00:17:49.080> very<00:17:49.320> intriguing<00:17:49.880> improvements 00:17:50.870 --> 00:17:50.880 align:start position:0% not very intriguing improvements 00:17:50.880 --> 00:17:53.750 align:start position:0% not very intriguing improvements actually<00:17:51.720> fundamentally<00:17:52.440> change<00:17:52.799> how<00:17:53.400> usable 00:17:53.750 --> 00:17:53.760 align:start position:0% actually fundamentally change how usable 00:17:53.760 --> 00:17:56.630 align:start position:0% actually fundamentally change how usable this<00:17:54.000> technology<00:17:54.360> is<00:17:54.799> so<00:17:55.799> if<00:17:56.100> you<00:17:56.220> read<00:17:56.400> the 00:17:56.630 --> 00:17:56.640 align:start position:0% this technology is so if you read the 00:17:56.640 --> 00:17:59.289 align:start position:0% this technology is so if you read the text<00:17:56.820> of<00:17:57.559> eip4844 00:17:59.289 --> 00:17:59.299 align:start position:0% text of eip4844 00:17:59.299 --> 00:18:01.549 align:start position:0% text of eip4844 you<00:18:00.299> might<00:18:00.419> not<00:18:00.539> get<00:18:00.780> it<00:18:00.960> at<00:18:01.140> first<00:18:01.260> if 00:18:01.549 --> 00:18:01.559 align:start position:0% you might not get it at first if 00:18:01.559 --> 00:18:02.750 align:start position:0% you might not get it at first if somebody<00:18:01.679> explains<00:18:02.160> it<00:18:02.280> to<00:18:02.400> you<00:18:02.460> it<00:18:02.640> makes 00:18:02.750 --> 00:18:02.760 align:start position:0% somebody explains it to you it makes 00:18:02.760 --> 00:18:04.730 align:start position:0% somebody explains it to you it makes Roll-Ups<00:18:03.360> less<00:18:03.480> expensive<00:18:03.960> thank<00:18:04.500> you<00:18:04.620> to 00:18:04.730 --> 00:18:04.740 align:start position:0% Roll-Ups less expensive thank you to 00:18:04.740 --> 00:18:07.010 align:start position:0% Roll-Ups less expensive thank you to Proto<00:18:05.160> for<00:18:05.340> providing<00:18:05.820> me<00:18:05.940> with<00:18:06.240> this<00:18:06.600> chart 00:18:07.010 --> 00:18:07.020 align:start position:0% Proto for providing me with this chart 00:18:07.020 --> 00:18:08.990 align:start position:0% Proto for providing me with this chart how<00:18:07.380> much<00:18:07.500> less<00:18:07.679> expensive<00:18:08.160> if<00:18:08.520> you<00:18:08.640> look<00:18:08.760> at 00:18:08.990 --> 00:18:09.000 align:start position:0% how much less expensive if you look at 00:18:09.000 --> 00:18:13.190 align:start position:0% how much less expensive if you look at gas<00:18:09.299> fees<00:18:09.720> on<00:18:10.559> optimism<00:18:11.039> for<00:18:11.340> example<00:18:11.840> the<00:18:12.840> L1 00:18:13.190 --> 00:18:13.200 align:start position:0% gas fees on optimism for example the L1 00:18:13.200 --> 00:18:17.570 align:start position:0% gas fees on optimism for example the L1 data<00:18:13.620> fees<00:18:13.919> are<00:18:14.460> like<00:18:14.640> 97<00:18:15.179> 98<00:18:16.039> of<00:18:17.039> the<00:18:17.340> expense 00:18:17.570 --> 00:18:17.580 align:start position:0% data fees are like 97 98 of the expense 00:18:17.580 --> 00:18:19.909 align:start position:0% data fees are like 97 98 of the expense of<00:18:17.820> each<00:18:18.000> block<00:18:18.240> so<00:18:18.960> if<00:18:19.080> you<00:18:19.200> can<00:18:19.320> imagine<00:18:19.500> that 00:18:19.909 --> 00:18:19.919 align:start position:0% of each block so if you can imagine that 00:18:19.919 --> 00:18:23.330 align:start position:0% of each block so if you can imagine that we<00:18:20.280> create<00:18:20.760> this<00:18:21.360> EIP 00:18:23.330 --> 00:18:23.340 align:start position:0% we create this EIP 00:18:23.340 --> 00:18:25.130 align:start position:0% we create this EIP we're<00:18:23.880> going<00:18:24.059> to<00:18:24.240> suddenly<00:18:24.539> be<00:18:24.720> in<00:18:24.840> a<00:18:25.020> case 00:18:25.130 --> 00:18:25.140 align:start position:0% we're going to suddenly be in a case 00:18:25.140 --> 00:18:26.930 align:start position:0% we're going to suddenly be in a case where<00:18:25.500> instead<00:18:26.100> of<00:18:26.160> paying<00:18:26.400> five<00:18:26.520> cents<00:18:26.700> for 00:18:26.930 --> 00:18:26.940 align:start position:0% where instead of paying five cents for 00:18:26.940 --> 00:18:28.669 align:start position:0% where instead of paying five cents for every<00:18:27.120> transaction<00:18:27.539> you're<00:18:28.320> paying<00:18:28.620> a 00:18:28.669 --> 00:18:28.679 align:start position:0% every transaction you're paying a 00:18:28.679 --> 00:18:30.289 align:start position:0% every transaction you're paying a fraction<00:18:28.980> of<00:18:29.160> a<00:18:29.280> Cent<00:18:29.460> and<00:18:29.940> you<00:18:30.059> can<00:18:30.179> actually 00:18:30.289 --> 00:18:30.299 align:start position:0% fraction of a Cent and you can actually 00:18:30.299 --> 00:18:32.450 align:start position:0% fraction of a Cent and you can actually use<00:18:30.600> it<00:18:30.780> every<00:18:30.960> day<00:18:31.140> and<00:18:31.679> it's<00:18:31.799> a<00:18:31.980> zero<00:18:32.220> to<00:18:32.280> one 00:18:32.450 --> 00:18:32.460 align:start position:0% use it every day and it's a zero to one 00:18:32.460 --> 00:18:33.950 align:start position:0% use it every day and it's a zero to one change<00:18:32.580> it's<00:18:32.820> a<00:18:33.000> step<00:18:33.120> change<00:18:33.419> that<00:18:33.720> I'm<00:18:33.840> very 00:18:33.950 --> 00:18:33.960 align:start position:0% change it's a step change that I'm very 00:18:33.960 --> 00:18:36.110 align:start position:0% change it's a step change that I'm very excited<00:18:34.320> to<00:18:34.440> see<00:18:34.559> happen<00:18:34.860> hopefully<00:18:35.700> in<00:18:35.940> in 00:18:36.110 --> 00:18:36.120 align:start position:0% excited to see happen hopefully in in 00:18:36.120 --> 00:18:38.570 align:start position:0% excited to see happen hopefully in in just<00:18:36.360> a<00:18:36.480> few<00:18:36.539> months<00:18:36.840> so<00:18:37.200> thank<00:18:37.500> you<00:18:37.620> again<00:18:37.799> I 00:18:38.570 --> 00:18:38.580 align:start position:0% just a few months so thank you again I 00:18:38.580 --> 00:18:40.549 align:start position:0% just a few months so thank you again I would<00:18:38.700> encourage<00:18:39.000> you<00:18:39.179> to<00:18:39.360> support<00:18:39.600> uh<00:18:40.380> all 00:18:40.549 --> 00:18:40.559 align:start position:0% would encourage you to support uh all 00:18:40.559 --> 00:18:42.289 align:start position:0% would encourage you to support uh all the<00:18:40.679> relevant<00:18:40.980> eips<00:18:41.340> and<00:18:41.820> of<00:18:41.940> course<00:18:42.059> the 00:18:42.289 --> 00:18:42.299 align:start position:0% the relevant eips and of course the 00:18:42.299 --> 00:18:44.750 align:start position:0% the relevant eips and of course the surge<00:18:42.660> uh<00:18:43.559> reach<00:18:43.860> out<00:18:43.980> if<00:18:44.340> you<00:18:44.460> think<00:18:44.640> we 00:18:44.750 --> 00:18:44.760 align:start position:0% surge uh reach out if you think we 00:18:44.760 --> 00:18:46.909 align:start position:0% surge uh reach out if you think we should<00:18:44.940> work<00:18:45.120> together<00:18:45.360> my<00:18:46.200> Twitter<00:18:46.320> is<00:18:46.620> also 00:18:46.909 --> 00:18:46.919 align:start position:0% should work together my Twitter is also 00:18:46.919 --> 00:18:49.669 align:start position:0% should work together my Twitter is also just<00:18:47.220> at<00:18:47.580> my<00:18:47.820> name<00:18:48.000> and<00:18:48.900> if<00:18:49.200> you're<00:18:49.320> interested 00:18:49.669 --> 00:18:49.679 align:start position:0% just at my name and if you're interested 00:18:49.679 --> 00:18:51.470 align:start position:0% just at my name and if you're interested in<00:18:49.799> donating<00:18:50.100> to<00:18:50.280> give<00:18:50.460> directly<00:18:50.880> that<00:18:51.120> QR 00:18:51.470 --> 00:18:51.480 align:start position:0% in donating to give directly that QR 00:18:51.480 --> 00:18:53.450 align:start position:0% in donating to give directly that QR code<00:18:51.660> will<00:18:52.140> direct<00:18:52.679> you<00:18:52.919> to<00:18:53.100> all<00:18:53.280> of<00:18:53.340> our 00:18:53.450 --> 00:18:53.460 align:start position:0% code will direct you to all of our 00:18:53.460 --> 00:18:55.430 align:start position:0% code will direct you to all of our addresses<00:18:53.940> thank<00:18:54.480> you<00:18:54.600> if<00:18:55.140> you<00:18:55.260> have 00:18:55.430 --> 00:18:55.440 align:start position:0% addresses thank you if you have 00:18:55.440 --> 00:18:57.169 align:start position:0% addresses thank you if you have questions<00:18:55.980> feel<00:18:56.340> free<00:18:56.460> to<00:18:56.640> raise<00:18:56.760> your<00:18:57.000> hand 00:18:57.169 --> 00:18:57.179 align:start position:0% questions feel free to raise your hand 00:18:57.179 --> 00:18:58.970 align:start position:0% questions feel free to raise your hand and<00:18:57.419> one<00:18:57.660> of<00:18:57.780> the<00:18:57.840> volunteers<00:18:58.320> will<00:18:58.559> hand<00:18:58.799> you 00:18:58.970 --> 00:18:58.980 align:start position:0% and one of the volunteers will hand you 00:18:58.980 --> 00:19:01.669 align:start position:0% and one of the volunteers will hand you a<00:18:59.100> mic<00:18:59.660> so<00:19:00.660> we<00:19:00.780> can<00:19:00.960> go<00:19:01.080> ahead<00:19:01.140> and<00:19:01.260> take<00:19:01.440> some 00:19:01.669 --> 00:19:01.679 align:start position:0% a mic so we can go ahead and take some 00:19:01.679 --> 00:19:03.590 align:start position:0% a mic so we can go ahead and take some questions<00:19:01.919> there's<00:19:02.820> a<00:19:03.059> question<00:19:03.179> right<00:19:03.419> here 00:19:03.590 --> 00:19:03.600 align:start position:0% questions there's a question right here 00:19:03.600 --> 00:19:05.029 align:start position:0% questions there's a question right here in<00:19:03.780> the<00:19:03.900> front<00:19:04.020> row 00:19:05.029 --> 00:19:05.039 align:start position:0% in the front row 00:19:05.039 --> 00:19:07.789 align:start position:0% in the front row thank<00:19:05.520> you<00:19:05.640> very<00:19:05.820> much<00:19:05.940> for<00:19:06.240> this<00:19:06.419> I<00:19:07.020> I'm<00:19:07.559> kind 00:19:07.789 --> 00:19:07.799 align:start position:0% thank you very much for this I I'm kind 00:19:07.799 --> 00:19:09.650 align:start position:0% thank you very much for this I I'm kind of<00:19:07.919> impressed<00:19:08.460> that<00:19:08.640> you've<00:19:09.179> raised<00:19:09.480> 50 00:19:09.650 --> 00:19:09.660 align:start position:0% of impressed that you've raised 50 00:19:09.660 --> 00:19:12.650 align:start position:0% of impressed that you've raised 50 million<00:19:10.200> dollars<00:19:10.559> from<00:19:11.660> philanthropists 00:19:12.650 --> 00:19:12.660 align:start position:0% million dollars from philanthropists 00:19:12.660 --> 00:19:14.870 align:start position:0% million dollars from philanthropists that<00:19:13.140> are<00:19:13.500> sort<00:19:13.860> of<00:19:13.919> handing<00:19:14.340> over<00:19:14.460> the 00:19:14.870 --> 00:19:14.880 align:start position:0% that are sort of handing over the 00:19:14.880 --> 00:19:16.970 align:start position:0% that are sort of handing over the decision<00:19:15.120> making<00:19:15.360> of<00:19:15.720> where<00:19:16.080> the<00:19:16.260> money<00:19:16.440> goes 00:19:16.970 --> 00:19:16.980 align:start position:0% decision making of where the money goes 00:19:16.980 --> 00:19:19.250 align:start position:0% decision making of where the money goes that's<00:19:17.700> impressive<00:19:18.240> do<00:19:18.720> you<00:19:18.840> have<00:19:18.900> any<00:19:19.020> kind 00:19:19.250 --> 00:19:19.260 align:start position:0% that's impressive do you have any kind 00:19:19.260 --> 00:19:21.130 align:start position:0% that's impressive do you have any kind of<00:19:19.380> idea 00:19:21.130 --> 00:19:21.140 align:start position:0% of idea 00:19:21.140 --> 00:19:23.870 align:start position:0% of idea are<00:19:22.140> the<00:19:22.260> sorts<00:19:22.559> of<00:19:22.620> people<00:19:22.799> that<00:19:23.220> uh<00:19:23.400> that 00:19:23.870 --> 00:19:23.880 align:start position:0% are the sorts of people that uh that 00:19:23.880 --> 00:19:26.870 align:start position:0% are the sorts of people that uh that that that<00:19:24.240> do<00:19:25.140> this<00:19:25.320> I<00:19:25.919> think<00:19:26.100> that<00:19:26.340> a<00:19:26.580> few<00:19:26.700> of 00:19:26.870 --> 00:19:26.880 align:start position:0% that that do this I think that a few of 00:19:26.880 --> 00:19:30.289 align:start position:0% that that do this I think that a few of them<00:19:27.059> are<00:19:27.660> giving<00:19:28.500> their<00:19:28.740> donations<00:19:29.100> under<00:19:29.940> an 00:19:30.289 --> 00:19:30.299 align:start position:0% them are giving their donations under an 00:19:30.299 --> 00:19:32.330 align:start position:0% them are giving their donations under an anonymous<00:19:30.720> circumstance<00:19:31.260> I<00:19:31.500> mean<00:19:31.679> it's<00:19:32.160> just 00:19:32.330 --> 00:19:32.340 align:start position:0% anonymous circumstance I mean it's just 00:19:32.340 --> 00:19:35.210 align:start position:0% anonymous circumstance I mean it's just a<00:19:32.520> crypto<00:19:32.880> uh<00:19:33.600> wallet<00:19:34.200> address<00:19:34.320> anybody<00:19:34.980> can 00:19:35.210 --> 00:19:35.220 align:start position:0% a crypto uh wallet address anybody can 00:19:35.220 --> 00:19:37.490 align:start position:0% a crypto uh wallet address anybody can send<00:19:35.340> to<00:19:35.520> it<00:19:35.700> but<00:19:36.419> I<00:19:36.539> know<00:19:36.660> that<00:19:36.780> vitalik<00:19:37.260> has 00:19:37.490 --> 00:19:37.500 align:start position:0% send to it but I know that vitalik has 00:19:37.500 --> 00:19:40.190 align:start position:0% send to it but I know that vitalik has been<00:19:37.679> one<00:19:37.919> of<00:19:38.039> our<00:19:38.160> top<00:19:38.520> donors<00:19:39.000> and<00:19:39.539> you<00:19:40.140> know 00:19:40.190 --> 00:19:40.200 align:start position:0% been one of our top donors and you know 00:19:40.200 --> 00:19:42.710 align:start position:0% been one of our top donors and you know thank<00:19:40.320> you<00:19:40.500> to<00:19:40.679> him 00:19:42.710 --> 00:19:42.720 align:start position:0% thank you to him 00:19:42.720 --> 00:19:44.750 align:start position:0% thank you to him yeah<00:19:43.260> awesome<00:19:43.860> I<00:19:44.160> know<00:19:44.280> there's<00:19:44.520> a<00:19:44.640> question 00:19:44.750 --> 00:19:44.760 align:start position:0% yeah awesome I know there's a question 00:19:44.760 --> 00:19:46.789 align:start position:0% yeah awesome I know there's a question in<00:19:45.000> the<00:19:45.179> back<00:19:45.299> and<00:19:45.960> there's<00:19:46.140> also<00:19:46.440> a<00:19:46.559> question 00:19:46.789 --> 00:19:46.799 align:start position:0% in the back and there's also a question 00:19:46.799 --> 00:19:49.610 align:start position:0% in the back and there's also a question over<00:19:47.100> there<00:19:47.340> Hi<00:19:48.000> man<00:19:48.240> uh<00:19:48.780> great<00:19:49.200> job<00:19:49.320> what 00:19:49.610 --> 00:19:49.620 align:start position:0% over there Hi man uh great job what 00:19:49.620 --> 00:19:52.190 align:start position:0% over there Hi man uh great job what you're<00:19:49.740> doing<00:19:49.980> man<00:19:50.220> I<00:19:50.640> just<00:19:50.880> heard<00:19:51.120> about<00:19:51.360> how 00:19:52.190 --> 00:19:52.200 align:start position:0% you're doing man I just heard about how 00:19:52.200 --> 00:19:54.370 align:start position:0% you're doing man I just heard about how about<00:19:52.559> your<00:19:52.860> project<00:19:53.100> and<00:19:53.400> what<00:19:53.640> you're<00:19:53.820> doing 00:19:54.370 --> 00:19:54.380 align:start position:0% about your project and what you're doing 00:19:54.380 --> 00:19:57.590 align:start position:0% about your project and what you're doing uh<00:19:55.380> what's<00:19:56.340> the<00:19:56.520> landscape<00:19:56.880> in<00:19:57.059> Latin<00:19:57.419> America 00:19:57.590 --> 00:19:57.600 align:start position:0% uh what's the landscape in Latin America 00:19:57.600 --> 00:20:00.470 align:start position:0% uh what's the landscape in Latin America like<00:19:58.200> what<00:19:58.980> are<00:19:59.280> you<00:19:59.460> what<00:20:00.000> what<00:20:00.120> do<00:20:00.360> you<00:20:00.360> think 00:20:00.470 --> 00:20:00.480 align:start position:0% like what are you what what do you think 00:20:00.480 --> 00:20:02.930 align:start position:0% like what are you what what do you think about<00:20:00.660> Latin<00:20:01.140> America<00:20:01.320> here<00:20:01.980> we<00:20:02.340> have<00:20:02.520> so<00:20:02.820> many 00:20:02.930 --> 00:20:02.940 align:start position:0% about Latin America here we have so many 00:20:02.940 --> 00:20:05.810 align:start position:0% about Latin America here we have so many problems<00:20:03.480> that<00:20:03.900> you<00:20:04.020> describe<00:20:04.500> like<00:20:05.280> crime 00:20:05.810 --> 00:20:05.820 align:start position:0% problems that you describe like crime 00:20:05.820 --> 00:20:07.909 align:start position:0% problems that you describe like crime corruption<00:20:06.360> bravery 00:20:07.909 --> 00:20:07.919 align:start position:0% corruption bravery 00:20:07.919 --> 00:20:10.610 align:start position:0% corruption bravery worst<00:20:08.880> governments<00:20:09.539> you<00:20:09.720> know<00:20:09.780> like<00:20:10.080> there's 00:20:10.610 --> 00:20:10.620 align:start position:0% worst governments you know like there's 00:20:10.620 --> 00:20:12.409 align:start position:0% worst governments you know like there's it's<00:20:10.860> really<00:20:11.100> bad<00:20:11.340> and<00:20:11.580> I<00:20:11.820> see<00:20:12.000> that<00:20:12.240> you 00:20:12.409 --> 00:20:12.419 align:start position:0% it's really bad and I see that you 00:20:12.419 --> 00:20:15.950 align:start position:0% it's really bad and I see that you support<00:20:12.660> a<00:20:12.960> lot<00:20:13.080> of<00:20:13.280> African<00:20:14.280> countries<00:20:14.960> so 00:20:15.950 --> 00:20:15.960 align:start position:0% support a lot of African countries so 00:20:15.960 --> 00:20:18.529 align:start position:0% support a lot of African countries so can<00:20:16.679> you<00:20:16.860> tell<00:20:17.100> us<00:20:17.280> about<00:20:17.460> Latin<00:20:18.120> America<00:20:18.299> if 00:20:18.529 --> 00:20:18.539 align:start position:0% can you tell us about Latin America if 00:20:18.539 --> 00:20:22.549 align:start position:0% can you tell us about Latin America if it's<00:20:18.780> in<00:20:18.960> your<00:20:19.580> roadmap<00:20:20.580> or<00:20:20.940> or<00:20:21.419> not<00:20:21.720> or<00:20:22.140> when 00:20:22.549 --> 00:20:22.559 align:start position:0% it's in your roadmap or or not or when 00:20:22.559 --> 00:20:25.130 align:start position:0% it's in your roadmap or or not or when yeah 00:20:25.130 --> 00:20:25.140 align:start position:0% yeah 00:20:25.140 --> 00:20:29.029 align:start position:0% yeah great<00:20:25.740> question<00:20:26.039> so<00:20:26.820> we've<00:20:27.179> done<00:20:27.480> projects<00:20:28.140> in 00:20:29.029 --> 00:20:29.039 align:start position:0% great question so we've done projects in 00:20:29.039 --> 00:20:30.950 align:start position:0% great question so we've done projects in many<00:20:29.220> places<00:20:29.580> throughout<00:20:30.000> the<00:20:30.120> world<00:20:30.240> Africa 00:20:30.950 --> 00:20:30.960 align:start position:0% many places throughout the world Africa 00:20:30.960 --> 00:20:34.010 align:start position:0% many places throughout the world Africa tends<00:20:31.320> to<00:20:31.440> be<00:20:31.760> the<00:20:32.760> primary<00:20:33.360> source<00:20:33.720> because 00:20:34.010 --> 00:20:34.020 align:start position:0% tends to be the primary source because 00:20:34.020 --> 00:20:36.590 align:start position:0% tends to be the primary source because many<00:20:34.380> of<00:20:34.559> our<00:20:34.679> funders<00:20:35.160> are<00:20:36.000> looking<00:20:36.240> for 00:20:36.590 --> 00:20:36.600 align:start position:0% many of our funders are looking for 00:20:36.600 --> 00:20:38.210 align:start position:0% many of our funders are looking for where<00:20:36.960> is<00:20:37.140> the<00:20:37.260> place<00:20:37.380> where<00:20:37.679> the<00:20:37.740> poverty<00:20:38.100> is 00:20:38.210 --> 00:20:38.220 align:start position:0% where is the place where the poverty is 00:20:38.220 --> 00:20:40.130 align:start position:0% where is the place where the poverty is the<00:20:38.400> most<00:20:38.520> extreme<00:20:38.820> the<00:20:39.120> most<00:20:39.240> widespread<00:20:39.840> and 00:20:40.130 --> 00:20:40.140 align:start position:0% the most extreme the most widespread and 00:20:40.140 --> 00:20:42.409 align:start position:0% the most extreme the most widespread and so<00:20:40.320> their<00:20:40.500> dollar<00:20:40.740> will<00:20:41.100> go<00:20:41.220> the<00:20:41.400> furthest 00:20:42.409 --> 00:20:42.419 align:start position:0% so their dollar will go the furthest 00:20:42.419 --> 00:20:44.090 align:start position:0% so their dollar will go the furthest now<00:20:42.840> I<00:20:42.960> don't<00:20:43.080> think<00:20:43.200> that<00:20:43.440> that<00:20:43.559> precludes<00:20:43.980> us 00:20:44.090 --> 00:20:44.100 align:start position:0% now I don't think that that precludes us 00:20:44.100 --> 00:20:45.529 align:start position:0% now I don't think that that precludes us from<00:20:44.280> being<00:20:44.460> other<00:20:44.640> places<00:20:44.940> but<00:20:45.240> it's<00:20:45.360> a 00:20:45.529 --> 00:20:45.539 align:start position:0% from being other places but it's a 00:20:45.539 --> 00:20:47.210 align:start position:0% from being other places but it's a question<00:20:45.660> of<00:20:45.900> finding<00:20:46.260> the<00:20:46.380> funding<00:20:46.740> of 00:20:47.210 --> 00:20:47.220 align:start position:0% question of finding the funding of 00:20:47.220 --> 00:20:49.010 align:start position:0% question of finding the funding of people<00:20:47.400> who<00:20:47.760> are<00:20:47.940> specifically<00:20:48.480> interested 00:20:49.010 --> 00:20:49.020 align:start position:0% people who are specifically interested 00:20:49.020 --> 00:20:51.830 align:start position:0% people who are specifically interested in<00:20:49.500> seeing<00:20:49.860> change<00:20:50.100> in<00:20:50.280> Latin<00:20:50.640> America<00:20:50.840> and 00:20:51.830 --> 00:20:51.840 align:start position:0% in seeing change in Latin America and 00:20:51.840 --> 00:20:54.289 align:start position:0% in seeing change in Latin America and luckily<00:20:52.200> there<00:20:52.440> are<00:20:52.500> a<00:20:52.620> lot<00:20:52.740> of<00:20:52.919> things<00:20:53.880> on<00:20:54.179> the 00:20:54.289 --> 00:20:54.299 align:start position:0% luckily there are a lot of things on the 00:20:54.299 --> 00:20:57.470 align:start position:0% luckily there are a lot of things on the horizon<00:20:54.600> I<00:20:55.260> know<00:20:55.380> that<00:20:55.620> there<00:20:56.039> are<00:20:56.220> some<00:20:56.480> U.S 00:20:57.470 --> 00:20:57.480 align:start position:0% horizon I know that there are some U.S 00:20:57.480 --> 00:20:59.390 align:start position:0% horizon I know that there are some U.S government<00:20:57.740> and<00:20:58.740> other<00:20:59.100> International 00:20:59.390 --> 00:20:59.400 align:start position:0% government and other International 00:20:59.400 --> 00:21:01.909 align:start position:0% government and other International organizations<00:21:00.200> that<00:21:01.200> have<00:21:01.500> recently 00:21:01.909 --> 00:21:01.919 align:start position:0% organizations that have recently 00:21:01.919 --> 00:21:05.210 align:start position:0% organizations that have recently proposed<00:21:02.760> some<00:21:03.059> more<00:21:03.240> Aid<00:21:03.600> so<00:21:04.559> hopefully<00:21:04.919> give 00:21:05.210 --> 00:21:05.220 align:start position:0% proposed some more Aid so hopefully give 00:21:05.220 --> 00:21:07.909 align:start position:0% proposed some more Aid so hopefully give directly<00:21:05.580> will<00:21:05.760> be<00:21:05.940> able<00:21:06.120> to<00:21:06.620> bring<00:21:07.620> some<00:21:07.799> of 00:21:07.909 --> 00:21:07.919 align:start position:0% directly will be able to bring some of 00:21:07.919 --> 00:21:10.370 align:start position:0% directly will be able to bring some of that<00:21:08.039> to<00:21:08.220> Latin<00:21:08.520> America<00:21:08.640> soon 00:21:10.370 --> 00:21:10.380 align:start position:0% that to Latin America soon 00:21:10.380 --> 00:21:12.049 align:start position:0% that to Latin America soon awesome<00:21:10.980> I<00:21:11.340> believe<00:21:11.460> there's<00:21:11.760> a<00:21:11.940> question 00:21:12.049 --> 00:21:12.059 align:start position:0% awesome I believe there's a question 00:21:12.059 --> 00:21:14.210 align:start position:0% awesome I believe there's a question over<00:21:12.419> there<00:21:12.660> to<00:21:12.900> you<00:21:13.080> on<00:21:13.200> the<00:21:13.380> yeah<00:21:13.679> with<00:21:14.039> the 00:21:14.210 --> 00:21:14.220 align:start position:0% over there to you on the yeah with the 00:21:14.220 --> 00:21:17.029 align:start position:0% over there to you on the yeah with the gentleman<00:21:14.580> in<00:21:14.700> the<00:21:14.880> black<00:21:14.940> shirt<00:21:15.380> AGM<00:21:16.380> uh 00:21:17.029 --> 00:21:17.039 align:start position:0% gentleman in the black shirt AGM uh 00:21:17.039 --> 00:21:19.250 align:start position:0% gentleman in the black shirt AGM uh amazing<00:21:17.460> presentation<00:21:18.059> thank<00:21:18.600> you<00:21:18.720> for<00:21:19.020> that 00:21:19.250 --> 00:21:19.260 align:start position:0% amazing presentation thank you for that 00:21:19.260 --> 00:21:22.970 align:start position:0% amazing presentation thank you for that I'm<00:21:19.860> Russ<00:21:20.100> uh<00:21:20.640> founder<00:21:21.059> of<00:21:21.360> 40<00:21:21.840> acres<00:21:22.320> Dao<00:21:22.740> and 00:21:22.970 --> 00:21:22.980 align:start position:0% I'm Russ uh founder of 40 acres Dao and 00:21:22.980 --> 00:21:25.490 align:start position:0% I'm Russ uh founder of 40 acres Dao and chief<00:21:23.220> five<00:21:23.400> officer<00:21:23.880> and<00:21:24.480> we<00:21:24.660> used<00:21:24.840> we<00:21:25.320> kind 00:21:25.490 --> 00:21:25.500 align:start position:0% chief five officer and we used we kind 00:21:25.500 --> 00:21:27.409 align:start position:0% chief five officer and we used we kind of<00:21:25.620> echo<00:21:26.039> a<00:21:26.220> lot<00:21:26.340> of<00:21:26.460> the<00:21:26.580> same<00:21:26.760> sentiments 00:21:27.409 --> 00:21:27.419 align:start position:0% of echo a lot of the same sentiments 00:21:27.419 --> 00:21:29.270 align:start position:0% of echo a lot of the same sentiments that<00:21:27.600> you<00:21:27.780> talked<00:21:28.080> about<00:21:28.140> today<00:21:28.500> really 00:21:29.270 --> 00:21:29.280 align:start position:0% that you talked about today really 00:21:29.280 --> 00:21:30.770 align:start position:0% that you talked about today really through<00:21:29.580> trying<00:21:29.760> to<00:21:29.880> create<00:21:30.059> self-sustaining 00:21:30.770 --> 00:21:30.780 align:start position:0% through trying to create self-sustaining 00:21:30.780 --> 00:21:32.029 align:start position:0% through trying to create self-sustaining communities<00:21:31.080> of<00:21:31.260> color<00:21:31.500> utilizing 00:21:32.029 --> 00:21:32.039 align:start position:0% communities of color utilizing 00:21:32.039 --> 00:21:34.130 align:start position:0% communities of color utilizing blockchain<00:21:32.460> technology<00:21:33.000> as<00:21:33.539> we've<00:21:33.780> seen<00:21:33.960> like 00:21:34.130 --> 00:21:34.140 align:start position:0% blockchain technology as we've seen like 00:21:34.140 --> 00:21:37.090 align:start position:0% blockchain technology as we've seen like the<00:21:34.320> biggest<00:21:34.500> hurdle<00:21:35.159> has<00:21:35.760> been<00:21:36.000> just<00:21:36.480> this 00:21:37.090 --> 00:21:37.100 align:start position:0% the biggest hurdle has been just this 00:21:37.100 --> 00:21:39.710 align:start position:0% the biggest hurdle has been just this convoluted<00:21:38.100> language<00:21:38.580> and<00:21:39.000> vernacular<00:21:39.480> in 00:21:39.710 --> 00:21:39.720 align:start position:0% convoluted language and vernacular in 00:21:39.720 --> 00:21:41.390 align:start position:0% convoluted language and vernacular in which<00:21:39.900> we<00:21:40.020> use<00:21:40.200> every<00:21:40.440> day<00:21:40.620> that<00:21:40.980> makes<00:21:41.100> sense 00:21:41.390 --> 00:21:41.400 align:start position:0% which we use every day that makes sense 00:21:41.400 --> 00:21:43.549 align:start position:0% which we use every day that makes sense to<00:21:41.640> us<00:21:41.820> but<00:21:42.360> for<00:21:42.539> other<00:21:42.720> people<00:21:42.960> just<00:21:43.260> goes 00:21:43.549 --> 00:21:43.559 align:start position:0% to us but for other people just goes 00:21:43.559 --> 00:21:45.169 align:start position:0% to us but for other people just goes over<00:21:43.679> their<00:21:43.860> head<00:21:44.039> liquidity<00:21:44.580> pools<00:21:44.880> yield 00:21:45.169 --> 00:21:45.179 align:start position:0% over their head liquidity pools yield 00:21:45.179 --> 00:21:47.810 align:start position:0% over their head liquidity pools yield farming<00:21:45.539> amms<00:21:46.140> so<00:21:46.860> we've<00:21:47.280> been<00:21:47.460> trying<00:21:47.640> to 00:21:47.810 --> 00:21:47.820 align:start position:0% farming amms so we've been trying to 00:21:47.820 --> 00:21:49.430 align:start position:0% farming amms so we've been trying to aggregate<00:21:48.299> all<00:21:48.480> that<00:21:48.600> information<00:21:48.840> through 00:21:49.430 --> 00:21:49.440 align:start position:0% aggregate all that information through 00:21:49.440 --> 00:21:51.770 align:start position:0% aggregate all that information through education<00:21:49.980> empowerment<00:21:50.580> and<00:21:50.820> engagement<00:21:51.120> and 00:21:51.770 --> 00:21:51.780 align:start position:0% education empowerment and engagement and 00:21:51.780 --> 00:21:53.570 align:start position:0% education empowerment and engagement and so<00:21:51.960> the<00:21:52.140> question<00:21:52.320> I<00:21:52.679> really<00:21:52.860> I<00:21:53.159> mean<00:21:53.340> you<00:21:53.460> guys 00:21:53.570 --> 00:21:53.580 align:start position:0% so the question I really I mean you guys 00:21:53.580 --> 00:21:55.549 align:start position:0% so the question I really I mean you guys been<00:21:53.820> doing<00:21:54.000> beautiful<00:21:54.299> work<00:21:54.659> raising<00:21:55.200> 50 00:21:55.549 --> 00:21:55.559 align:start position:0% been doing beautiful work raising 50 00:21:55.559 --> 00:21:58.070 align:start position:0% been doing beautiful work raising 50 million<00:21:56.220> dollars<00:21:56.700> and<00:21:57.419> so<00:21:57.600> as<00:21:57.780> far<00:21:57.960> as 00:21:58.070 --> 00:21:58.080 align:start position:0% million dollars and so as far as 00:21:58.080 --> 00:22:00.049 align:start position:0% million dollars and so as far as allocation<00:21:58.620> goes<00:21:58.980> do<00:21:59.159> you<00:21:59.340> guys<00:21:59.460> focus<00:21:59.820> on 00:22:00.049 --> 00:22:00.059 align:start position:0% allocation goes do you guys focus on 00:22:00.059 --> 00:22:02.149 align:start position:0% allocation goes do you guys focus on protocols<00:22:00.840> is<00:22:01.200> that<00:22:01.440> something<00:22:01.559> you've<00:22:01.980> been 00:22:02.149 --> 00:22:02.159 align:start position:0% protocols is that something you've been 00:22:02.159 --> 00:22:04.130 align:start position:0% protocols is that something you've been thinking<00:22:02.520> through<00:22:02.700> helping<00:22:03.419> aggregate<00:22:03.840> it<00:22:03.960> to 00:22:04.130 --> 00:22:04.140 align:start position:0% thinking through helping aggregate it to 00:22:04.140 --> 00:22:05.810 align:start position:0% thinking through helping aggregate it to certain<00:22:04.320> communities<00:22:04.799> versus<00:22:05.280> just 00:22:05.810 --> 00:22:05.820 align:start position:0% certain communities versus just 00:22:05.820 --> 00:22:08.090 align:start position:0% certain communities versus just individuals<00:22:06.539> themselves<00:22:07.020> thank<00:22:07.740> you<00:22:07.919> great 00:22:08.090 --> 00:22:08.100 align:start position:0% individuals themselves thank you great 00:22:08.100 --> 00:22:09.950 align:start position:0% individuals themselves thank you great question<00:22:08.340> so<00:22:09.120> right<00:22:09.419> now<00:22:09.600> we're<00:22:09.780> at<00:22:09.900> the 00:22:09.950 --> 00:22:09.960 align:start position:0% question so right now we're at the 00:22:09.960 --> 00:22:13.130 align:start position:0% question so right now we're at the Prototype<00:22:10.440> stage<00:22:11.100> so<00:22:11.640> our<00:22:11.820> funds<00:22:12.600> presently 00:22:13.130 --> 00:22:13.140 align:start position:0% Prototype stage so our funds presently 00:22:13.140 --> 00:22:15.770 align:start position:0% Prototype stage so our funds presently are<00:22:13.860> used<00:22:14.100> to<00:22:14.580> test<00:22:15.120> delivery<00:22:15.659> in 00:22:15.770 --> 00:22:15.780 align:start position:0% are used to test delivery in 00:22:15.780 --> 00:22:19.669 align:start position:0% are used to test delivery in cryptocurrency<00:22:16.580> uh<00:22:17.580> directly<00:22:18.059> to<00:22:18.679> recipients 00:22:19.669 --> 00:22:19.679 align:start position:0% cryptocurrency uh directly to recipients 00:22:19.679 --> 00:22:21.890 align:start position:0% cryptocurrency uh directly to recipients and<00:22:20.460> I<00:22:20.580> think<00:22:20.760> that 00:22:21.890 --> 00:22:21.900 align:start position:0% and I think that 00:22:21.900 --> 00:22:24.950 align:start position:0% and I think that we<00:22:22.440> obviously<00:22:22.980> want<00:22:23.820> to<00:22:23.940> have<00:22:24.360> that<00:22:24.780> kind<00:22:24.900> of 00:22:24.950 --> 00:22:24.960 align:start position:0% we obviously want to have that kind of 00:22:24.960 --> 00:22:27.230 align:start position:0% we obviously want to have that kind of killer<00:22:25.380> app<00:22:25.500> that<00:22:26.159> says<00:22:26.460> why<00:22:26.760> did<00:22:26.940> it<00:22:27.120> make 00:22:27.230 --> 00:22:27.240 align:start position:0% killer app that says why did it make 00:22:27.240 --> 00:22:28.730 align:start position:0% killer app that says why did it make more<00:22:27.480> sense<00:22:27.720> to<00:22:28.020> do<00:22:28.140> this<00:22:28.260> on<00:22:28.440> a<00:22:28.559> general 00:22:28.730 --> 00:22:28.740 align:start position:0% more sense to do this on a general 00:22:28.740 --> 00:22:31.549 align:start position:0% more sense to do this on a general purpose<00:22:29.159> blockchain<00:22:29.659> and<00:22:30.659> that<00:22:30.900> goes<00:22:31.200> back<00:22:31.320> to 00:22:31.549 --> 00:22:31.559 align:start position:0% purpose blockchain and that goes back to 00:22:31.559 --> 00:22:33.470 align:start position:0% purpose blockchain and that goes back to I<00:22:31.860> think<00:22:31.980> at<00:22:32.400> the<00:22:32.520> beginning<00:22:32.640> of<00:22:33.059> of<00:22:33.240> this 00:22:33.470 --> 00:22:33.480 align:start position:0% I think at the beginning of of this 00:22:33.480 --> 00:22:35.570 align:start position:0% I think at the beginning of of this event<00:22:33.600> they<00:22:33.960> spoke<00:22:34.260> a<00:22:34.380> little<00:22:34.500> bit<00:22:34.559> about<00:22:34.799> over 00:22:35.570 --> 00:22:35.580 align:start position:0% event they spoke a little bit about over 00:22:35.580 --> 00:22:37.909 align:start position:0% event they spoke a little bit about over emphasis<00:22:36.120> on<00:22:36.360> financialization<00:22:37.140> right<00:22:37.559> that 00:22:37.909 --> 00:22:37.919 align:start position:0% emphasis on financialization right that 00:22:37.919 --> 00:22:40.250 align:start position:0% emphasis on financialization right that there<00:22:38.039> should<00:22:38.220> be<00:22:38.340> non-financial<00:22:39.000> apps<00:22:39.480> and<00:22:40.140> I 00:22:40.250 --> 00:22:40.260 align:start position:0% there should be non-financial apps and I 00:22:40.260 --> 00:22:41.210 align:start position:0% there should be non-financial apps and I think<00:22:40.320> that<00:22:40.500> that's<00:22:40.679> an<00:22:40.860> incredibly 00:22:41.210 --> 00:22:41.220 align:start position:0% think that that's an incredibly 00:22:41.220 --> 00:22:42.950 align:start position:0% think that that's an incredibly important<00:22:41.700> point<00:22:41.940> to<00:22:42.179> show<00:22:42.299> that<00:22:42.480> this<00:22:42.659> isn't 00:22:42.950 --> 00:22:42.960 align:start position:0% important point to show that this isn't 00:22:42.960 --> 00:22:45.110 align:start position:0% important point to show that this isn't just<00:22:43.200> an<00:22:43.679> alternative<00:22:44.100> to<00:22:44.400> mobile<00:22:44.580> money<00:22:44.880> but 00:22:45.110 --> 00:22:45.120 align:start position:0% just an alternative to mobile money but 00:22:45.120 --> 00:22:46.310 align:start position:0% just an alternative to mobile money but this<00:22:45.299> is<00:22:45.419> actually<00:22:45.539> something<00:22:45.780> new<00:22:46.080> and 00:22:46.310 --> 00:22:46.320 align:start position:0% this is actually something new and 00:22:46.320 --> 00:22:48.289 align:start position:0% this is actually something new and different<00:22:46.500> this<00:22:47.100> is<00:22:47.280> infrastructure<00:22:47.880> this<00:22:48.179> is 00:22:48.289 --> 00:22:48.299 align:start position:0% different this is infrastructure this is 00:22:48.299 --> 00:22:51.409 align:start position:0% different this is infrastructure this is part<00:22:48.480> of<00:22:48.659> a<00:22:48.780> functional<00:22:49.140> Society<00:22:49.620> so<00:22:50.520> I<00:22:51.299> don't 00:22:51.409 --> 00:22:51.419 align:start position:0% part of a functional Society so I don't 00:22:51.419 --> 00:22:53.810 align:start position:0% part of a functional Society so I don't have<00:22:51.659> a<00:22:51.960> particular<00:22:52.320> protocol<00:22:53.100> that<00:22:53.520> I<00:22:53.700> can 00:22:53.810 --> 00:22:53.820 align:start position:0% have a particular protocol that I can 00:22:53.820 --> 00:22:55.370 align:start position:0% have a particular protocol that I can say<00:22:54.000> today<00:22:54.240> we're<00:22:54.539> kind<00:22:54.720> of<00:22:54.840> proving<00:22:55.140> that 00:22:55.370 --> 00:22:55.380 align:start position:0% say today we're kind of proving that 00:22:55.380 --> 00:22:57.230 align:start position:0% say today we're kind of proving that first<00:22:55.559> step<00:22:55.799> which<00:22:56.100> is<00:22:56.280> it's<00:22:56.700> at<00:22:56.940> least<00:22:57.059> as 00:22:57.230 --> 00:22:57.240 align:start position:0% first step which is it's at least as 00:22:57.240 --> 00:22:59.270 align:start position:0% first step which is it's at least as good<00:22:57.419> as<00:22:57.539> mobile<00:22:57.720> money<00:22:58.020> and<00:22:58.740> once<00:22:58.980> we<00:22:59.100> have 00:22:59.270 --> 00:22:59.280 align:start position:0% good as mobile money and once we have 00:22:59.280 --> 00:23:01.490 align:start position:0% good as mobile money and once we have that<00:22:59.460> information<00:22:59.780> hopefully<00:23:00.780> the<00:23:01.080> ecosystem 00:23:01.490 --> 00:23:01.500 align:start position:0% that information hopefully the ecosystem 00:23:01.500 --> 00:23:03.470 align:start position:0% that information hopefully the ecosystem will<00:23:01.919> have<00:23:02.100> a<00:23:02.340> lot<00:23:02.460> of<00:23:02.580> great<00:23:02.760> partners<00:23:03.240> that 00:23:03.470 --> 00:23:03.480 align:start position:0% will have a lot of great partners that 00:23:03.480 --> 00:23:05.770 align:start position:0% will have a lot of great partners that we<00:23:03.659> can<00:23:03.780> start<00:23:03.960> proving<00:23:04.440> why<00:23:04.679> it's<00:23:04.799> beyond 00:23:05.770 --> 00:23:05.780 align:start position:0% we can start proving why it's beyond 00:23:05.780 --> 00:23:08.870 align:start position:0% we can start proving why it's beyond present-day<00:23:06.780> Solutions<00:23:07.620> I<00:23:08.280> know<00:23:08.400> that<00:23:08.640> we 00:23:08.870 --> 00:23:08.880 align:start position:0% present-day Solutions I know that we 00:23:08.880 --> 00:23:11.029 align:start position:0% present-day Solutions I know that we have<00:23:09.179> just<00:23:09.419> run<00:23:09.659> out<00:23:09.900> of<00:23:10.020> time<00:23:10.200> but<00:23:10.740> thank<00:23:10.919> you 00:23:11.029 --> 00:23:11.039 align:start position:0% have just run out of time but thank you 00:23:11.039 --> 00:23:12.830 align:start position:0% have just run out of time but thank you again<00:23:11.159> I'll<00:23:11.580> be<00:23:11.820> off<00:23:12.000> to<00:23:12.120> the<00:23:12.240> side<00:23:12.360> after<00:23:12.600> the 00:23:12.830 --> 00:23:12.840 align:start position:0% again I'll be off to the side after the 00:23:12.840 --> 00:23:15.350 align:start position:0% again I'll be off to the side after the talk<00:23:13.080> and<00:23:13.919> I'll<00:23:14.159> be<00:23:14.340> with<00:23:14.580> you<00:23:14.700> at<00:23:14.880> dinner<00:23:15.000> once 00:23:15.350 --> 00:23:15.360 align:start position:0% talk and I'll be with you at dinner once 00:23:15.360 --> 00:23:17.750 align:start position:0% talk and I'll be with you at dinner once you<00:23:15.419> invite<00:23:15.720> me<00:23:15.840> there<00:23:16.400> thank<00:23:17.400> you<00:23:17.520> so<00:23:17.640> much 00:23:17.750 --> 00:23:17.760 align:start position:0% you invite me there thank you so much 00:23:17.760 --> 00:23:19.669 align:start position:0% you invite me there thank you so much Andrew<00:23:18.000> for<00:23:18.419> your<00:23:18.600> talk<00:23:18.720> I<00:23:19.020> think<00:23:19.260> it<00:23:19.380> was<00:23:19.559> so 00:23:19.669 --> 00:23:19.679 align:start position:0% Andrew for your talk I think it was so 00:23:19.679 --> 00:23:21.409 align:start position:0% Andrew for your talk I think it was so important<00:23:19.980> to<00:23:20.220> remember<00:23:20.340> the<00:23:20.760> human<00:23:20.940> aspect 00:23:21.409 --> 00:23:21.419 align:start position:0% important to remember the human aspect 00:23:21.419 --> 00:23:24.260 align:start position:0% important to remember the human aspect behind<00:23:21.780> blockchain