WEBVTT
Kind: captions
Language: en

00:00:08.639 --> 00:00:11.990 align:start position:0%
 
hello<00:00:09.040><c> Devcon</c><00:00:09.679><c> sea</c><00:00:10.679><c> vitalic</c><00:00:11.240><c> is</c><00:00:11.559><c> is</c><00:00:11.639><c> a</c><00:00:11.799><c> very</c>

00:00:11.990 --> 00:00:12.000 align:start position:0%
hello Devcon sea vitalic is is a very
 

00:00:12.000 --> 00:00:13.709 align:start position:0%
hello Devcon sea vitalic is is a very
rough<00:00:12.240><c> act</c><00:00:12.519><c> to</c><00:00:12.639><c> follow</c><00:00:13.040><c> so</c><00:00:13.280><c> thank</c><00:00:13.440><c> you</c><00:00:13.519><c> for</c>

00:00:13.709 --> 00:00:13.719 align:start position:0%
rough act to follow so thank you for
 

00:00:13.719 --> 00:00:15.790 align:start position:0%
rough act to follow so thank you for
everyone<00:00:14.000><c> who</c><00:00:14.160><c> stayed</c><00:00:14.480><c> to</c><00:00:14.679><c> talk</c><00:00:14.879><c> about</c>

00:00:15.790 --> 00:00:15.800 align:start position:0%
everyone who stayed to talk about
 

00:00:15.800 --> 00:00:19.070 align:start position:0%
everyone who stayed to talk about
decentralization<00:00:16.960><c> today</c><00:00:17.960><c> um</c><00:00:18.199><c> so</c><00:00:18.480><c> today</c><00:00:18.920><c> we</c>

00:00:19.070 --> 00:00:19.080 align:start position:0%
decentralization today um so today we
 

00:00:19.080 --> 00:00:20.750 align:start position:0%
decentralization today um so today we
are<00:00:19.240><c> going</c><00:00:19.439><c> to</c><00:00:19.640><c> talk</c><00:00:19.840><c> about</c><00:00:20.080><c> deconstructing</c>

00:00:20.750 --> 00:00:20.760 align:start position:0%
are going to talk about deconstructing
 

00:00:20.760 --> 00:00:22.710 align:start position:0%
are going to talk about deconstructing
the<00:00:20.920><c> nation</c><00:00:21.279><c> state</c><00:00:21.720><c> which</c><00:00:21.840><c> is</c><00:00:22.039><c> how</c><00:00:22.199><c> the</c><00:00:22.400><c> last</c>

00:00:22.710 --> 00:00:22.720 align:start position:0%
the nation state which is how the last
 

00:00:22.720 --> 00:00:24.830 align:start position:0%
the nation state which is how the last
kind<00:00:22.880><c> of</c><00:00:23.080><c> panel</c><00:00:23.359><c> ended</c><00:00:24.119><c> so</c><00:00:24.320><c> that</c><00:00:24.439><c> ends</c><00:00:24.640><c> up</c>

00:00:24.830 --> 00:00:24.840 align:start position:0%
kind of panel ended so that ends up
 

00:00:24.840 --> 00:00:26.750 align:start position:0%
kind of panel ended so that ends up
being<00:00:25.160><c> perfect</c><00:00:26.000><c> and</c><00:00:26.160><c> in</c><00:00:26.279><c> this</c><00:00:26.480><c> talk</c><00:00:26.640><c> we're</c>

00:00:26.750 --> 00:00:26.760 align:start position:0%
being perfect and in this talk we're
 

00:00:26.760 --> 00:00:28.109 align:start position:0%
being perfect and in this talk we're
going<00:00:26.840><c> to</c><00:00:27.000><c> cover</c><00:00:27.359><c> kind</c><00:00:27.519><c> of</c><00:00:27.640><c> a</c><00:00:27.760><c> bunch</c><00:00:27.920><c> of</c>

00:00:28.109 --> 00:00:28.119 align:start position:0%
going to cover kind of a bunch of
 

00:00:28.119 --> 00:00:29.630 align:start position:0%
going to cover kind of a bunch of
different<00:00:28.439><c> concepts</c><00:00:29.000><c> at</c><00:00:29.080><c> a</c><00:00:29.240><c> at</c><00:00:29.320><c> a</c><00:00:29.439><c> pretty</c>

00:00:29.630 --> 00:00:29.640 align:start position:0%
different concepts at a at a pretty
 

00:00:29.640 --> 00:00:32.109 align:start position:0%
different concepts at a at a pretty
rapid<00:00:30.039><c> fire</c><00:00:30.400><c> paace</c><00:00:31.279><c> so</c><00:00:31.400><c> we're</c><00:00:31.519><c> going</c><00:00:31.640><c> to</c><00:00:31.840><c> start</c>

00:00:32.109 --> 00:00:32.119 align:start position:0%
rapid fire paace so we're going to start
 

00:00:32.119 --> 00:00:34.430 align:start position:0%
rapid fire paace so we're going to start
with<00:00:32.320><c> how</c><00:00:32.480><c> does</c><00:00:32.680><c> eth</c><00:00:33.079><c> die</c><00:00:33.440><c> how</c><00:00:33.600><c> does</c><00:00:33.800><c> eth</c><00:00:34.079><c> go</c><00:00:34.239><c> to</c>

00:00:34.430 --> 00:00:34.440 align:start position:0%
with how does eth die how does eth go to
 

00:00:34.440 --> 00:00:37.350 align:start position:0%
with how does eth die how does eth go to
zero<00:00:34.920><c> why</c><00:00:35.040><c> are</c><00:00:35.239><c> we</c><00:00:35.520><c> actually</c><00:00:35.920><c> on</c><00:00:36.160><c> the</c><00:00:36.360><c> road</c><00:00:36.680><c> for</c>

00:00:37.350 --> 00:00:37.360 align:start position:0%
zero why are we actually on the road for
 

00:00:37.360 --> 00:00:39.190 align:start position:0%
zero why are we actually on the road for
some<00:00:37.680><c> possible</c><00:00:38.079><c> Futures</c><00:00:38.600><c> in</c><00:00:38.760><c> which</c><00:00:39.000><c> this</c>

00:00:39.190 --> 00:00:39.200 align:start position:0%
some possible Futures in which this
 

00:00:39.200 --> 00:00:41.389 align:start position:0%
some possible Futures in which this
blockchain<00:00:39.800><c> and</c><00:00:40.000><c> this</c><00:00:40.200><c> system</c><00:00:40.600><c> which</c><00:00:40.800><c> we</c><00:00:41.120><c> all</c>

00:00:41.389 --> 00:00:41.399 align:start position:0%
blockchain and this system which we all
 

00:00:41.399 --> 00:00:43.549 align:start position:0%
blockchain and this system which we all
love<00:00:42.160><c> just</c><00:00:42.360><c> like</c><00:00:42.559><c> doesn't</c><00:00:42.879><c> do</c><00:00:43.160><c> as</c><00:00:43.320><c> well</c>

00:00:43.549 --> 00:00:43.559 align:start position:0%
love just like doesn't do as well
 

00:00:43.559 --> 00:00:45.950 align:start position:0%
love just like doesn't do as well
anymore<00:00:44.559><c> how</c><00:00:44.719><c> can</c><00:00:44.879><c> we</c><00:00:45.039><c> save</c><00:00:45.320><c> it</c><00:00:45.480><c> what</c><00:00:45.600><c> is</c><00:00:45.719><c> the</c>

00:00:45.950 --> 00:00:45.960 align:start position:0%
anymore how can we save it what is the
 

00:00:45.960 --> 00:00:47.910 align:start position:0%
anymore how can we save it what is the
formula<00:00:46.320><c> for</c><00:00:46.520><c> that</c><00:00:47.160><c> what</c><00:00:47.280><c> does</c><00:00:47.480><c> this</c><00:00:47.640><c> have</c><00:00:47.760><c> to</c>

00:00:47.910 --> 00:00:47.920 align:start position:0%
formula for that what does this have to
 

00:00:47.920 --> 00:00:49.630 align:start position:0%
formula for that what does this have to
do<00:00:48.079><c> with</c><00:00:48.239><c> E3</c><00:00:48.840><c> which</c><00:00:49.000><c> I</c><00:00:49.079><c> think</c><00:00:49.239><c> is</c><00:00:49.320><c> a</c><00:00:49.440><c> meme</c>

00:00:49.630 --> 00:00:49.640 align:start position:0%
do with E3 which I think is a meme
 

00:00:49.640 --> 00:00:50.910 align:start position:0%
do with E3 which I think is a meme
you're<00:00:49.760><c> going</c><00:00:49.840><c> to</c><00:00:49.960><c> be</c><00:00:50.039><c> hearing</c><00:00:50.320><c> a</c><00:00:50.440><c> lot</c><00:00:50.640><c> about</c>

00:00:50.910 --> 00:00:50.920 align:start position:0%
you're going to be hearing a lot about
 

00:00:50.920 --> 00:00:54.150 align:start position:0%
you're going to be hearing a lot about
in<00:00:51.039><c> the</c><00:00:51.199><c> next</c><00:00:51.440><c> few</c><00:00:51.680><c> months</c><00:00:52.199><c> few</c><00:00:52.480><c> years</c><00:00:53.160><c> Etc</c>

00:00:54.150 --> 00:00:54.160 align:start position:0%
in the next few months few years Etc
 

00:00:54.160 --> 00:00:55.830 align:start position:0%
in the next few months few years Etc
what<00:00:54.280><c> are</c><00:00:54.399><c> the</c><00:00:54.600><c> Technologies</c><00:00:55.199><c> we</c><00:00:55.320><c> can</c><00:00:55.480><c> use</c><00:00:55.680><c> we</c>

00:00:55.830 --> 00:00:55.840 align:start position:0%
what are the Technologies we can use we
 

00:00:55.840 --> 00:00:58.349 align:start position:0%
what are the Technologies we can use we
just<00:00:55.960><c> heard</c><00:00:56.199><c> about</c><00:00:56.520><c> program</c><00:00:57.160><c> uh</c><00:00:57.760><c> programming</c>

00:00:58.349 --> 00:00:58.359 align:start position:0%
just heard about program uh programming
 

00:00:58.359 --> 00:01:00.110 align:start position:0%
just heard about program uh programming
privacy<00:00:58.840><c> and</c><00:00:58.960><c> other</c><00:00:59.199><c> things</c><00:00:59.440><c> like</c><00:00:59.600><c> that</c><00:01:00.039><c> what</c>

00:01:00.110 --> 00:01:00.120 align:start position:0%
privacy and other things like that what
 

00:01:00.120 --> 00:01:03.229 align:start position:0%
privacy and other things like that what
else<00:01:00.320><c> can</c><00:01:00.440><c> we</c><00:01:00.600><c> do</c><00:01:01.480><c> what</c><00:01:01.640><c> can</c><00:01:01.879><c> you</c><00:01:02.359><c> the</c><00:01:02.640><c> attendee</c>

00:01:03.229 --> 00:01:03.239 align:start position:0%
else can we do what can you the attendee
 

00:01:03.239 --> 00:01:05.830 align:start position:0%
else can we do what can you the attendee
here<00:01:03.359><c> at</c><00:01:03.519><c> Devcon</c><00:01:04.080><c> and</c><00:01:04.280><c> in</c><00:01:04.400><c> the</c><00:01:04.640><c> space</c><00:01:05.280><c> uh</c><00:01:05.400><c> do</c><00:01:05.640><c> to</c>

00:01:05.830 --> 00:01:05.840 align:start position:0%
here at Devcon and in the space uh do to
 

00:01:05.840 --> 00:01:08.469 align:start position:0%
here at Devcon and in the space uh do to
help<00:01:06.119><c> this</c><00:01:06.920><c> and</c><00:01:07.080><c> then</c><00:01:07.320><c> what</c><00:01:07.439><c> am</c><00:01:07.600><c> I</c><00:01:07.799><c> doing</c><00:01:08.240><c> about</c>

00:01:08.469 --> 00:01:08.479 align:start position:0%
help this and then what am I doing about
 

00:01:08.479 --> 00:01:10.190 align:start position:0%
help this and then what am I doing about
all<00:01:08.600><c> of</c><00:01:08.759><c> this</c><00:01:09.080><c> and</c><00:01:09.240><c> where</c><00:01:09.360><c> do</c><00:01:09.640><c> Technologies</c>

00:01:10.190 --> 00:01:10.200 align:start position:0%
all of this and where do Technologies
 

00:01:10.200 --> 00:01:12.870 align:start position:0%
all of this and where do Technologies
like<00:01:10.360><c> tees</c><00:01:11.000><c> come</c><00:01:11.159><c> in</c><00:01:12.119><c> so</c><00:01:12.360><c> let's</c><00:01:12.560><c> get</c><00:01:12.720><c> right</c>

00:01:12.870 --> 00:01:12.880 align:start position:0%
like tees come in so let's get right
 

00:01:12.880 --> 00:01:14.270 align:start position:0%
like tees come in so let's get right
into<00:01:13.119><c> it</c><00:01:13.280><c> I'm</c><00:01:13.360><c> going</c><00:01:13.479><c> to</c><00:01:13.600><c> start</c><00:01:13.799><c> a</c><00:01:13.920><c> little</c><00:01:14.080><c> bit</c>

00:01:14.270 --> 00:01:14.280 align:start position:0%
into it I'm going to start a little bit
 

00:01:14.280 --> 00:01:15.950 align:start position:0%
into it I'm going to start a little bit
funerary<00:01:14.880><c> today</c><00:01:15.280><c> so</c><00:01:15.400><c> I'm</c><00:01:15.520><c> going</c><00:01:15.600><c> to</c><00:01:15.720><c> talk</c>

00:01:15.950 --> 00:01:15.960 align:start position:0%
funerary today so I'm going to talk
 

00:01:15.960 --> 00:01:17.910 align:start position:0%
funerary today so I'm going to talk
about<00:01:16.200><c> what</c><00:01:16.360><c> I</c><00:01:16.520><c> consider</c><00:01:16.880><c> to</c><00:01:17.000><c> be</c><00:01:17.200><c> the</c><00:01:17.360><c> two</c><00:01:17.640><c> most</c>

00:01:17.910 --> 00:01:17.920 align:start position:0%
about what I consider to be the two most
 

00:01:17.920 --> 00:01:20.190 align:start position:0%
about what I consider to be the two most
disturbing<00:01:18.439><c> pictures</c><00:01:19.040><c> in</c><00:01:19.240><c> the</c><00:01:19.400><c> ethereum</c><00:01:19.880><c> news</c>

00:01:20.190 --> 00:01:20.200 align:start position:0%
disturbing pictures in the ethereum news
 

00:01:20.200 --> 00:01:22.990 align:start position:0%
disturbing pictures in the ethereum news
cycle<00:01:20.920><c> the</c><00:01:21.079><c> ethereum</c><00:01:21.520><c> space</c><00:01:21.880><c> today</c><00:01:22.640><c> at</c><00:01:22.759><c> least</c>

00:01:22.990 --> 00:01:23.000 align:start position:0%
cycle the ethereum space today at least
 

00:01:23.000 --> 00:01:25.030 align:start position:0%
cycle the ethereum space today at least
to<00:01:23.159><c> me</c><00:01:23.479><c> and</c><00:01:23.600><c> to</c><00:01:23.759><c> my</c><00:01:24.040><c> dream</c><00:01:24.400><c> of</c><00:01:24.600><c> building</c><00:01:24.880><c> a</c>

00:01:25.030 --> 00:01:25.040 align:start position:0%
to me and to my dream of building a
 

00:01:25.040 --> 00:01:27.109 align:start position:0%
to me and to my dream of building a
decentralized<00:01:25.720><c> system</c><00:01:26.280><c> together</c><00:01:26.560><c> with</c><00:01:26.720><c> you</c>

00:01:27.109 --> 00:01:27.119 align:start position:0%
decentralized system together with you
 

00:01:27.119 --> 00:01:29.550 align:start position:0%
decentralized system together with you
all<00:01:28.119><c> um</c><00:01:28.280><c> so</c><00:01:28.439><c> the</c><00:01:28.600><c> first</c><00:01:28.799><c> one</c><00:01:29.079><c> is</c><00:01:29.200><c> from</c><00:01:29.400><c> this</c>

00:01:29.550 --> 00:01:29.560 align:start position:0%
all um so the first one is from this
 

00:01:29.560 --> 00:01:31.510 align:start position:0%
all um so the first one is from this
paper<00:01:30.040><c> called</c><00:01:30.320><c> regulating</c><00:01:30.840><c> decentralized</c>

00:01:31.510 --> 00:01:31.520 align:start position:0%
paper called regulating decentralized
 

00:01:31.520 --> 00:01:33.270 align:start position:0%
paper called regulating decentralized
systems<00:01:32.079><c> evidence</c><00:01:32.439><c> from</c><00:01:32.680><c> sanctions</c><00:01:33.079><c> on</c>

00:01:33.270 --> 00:01:33.280 align:start position:0%
systems evidence from sanctions on
 

00:01:33.280 --> 00:01:35.590 align:start position:0%
systems evidence from sanctions on
tornado<00:01:33.759><c> cache</c><00:01:34.560><c> paper</c><00:01:34.880><c> published</c><00:01:35.240><c> by</c><00:01:35.360><c> the</c><00:01:35.439><c> New</c>

00:01:35.590 --> 00:01:35.600 align:start position:0%
tornado cache paper published by the New
 

00:01:35.600 --> 00:01:37.429 align:start position:0%
tornado cache paper published by the New
York<00:01:35.799><c> Federal</c><00:01:36.159><c> Reserve</c><00:01:36.640><c> authors</c><00:01:37.079><c> listed</c>

00:01:37.429 --> 00:01:37.439 align:start position:0%
York Federal Reserve authors listed
 

00:01:37.439 --> 00:01:39.789 align:start position:0%
York Federal Reserve authors listed
below<00:01:38.399><c> and</c><00:01:38.520><c> in</c><00:01:38.680><c> this</c><00:01:38.840><c> paper</c><00:01:39.119><c> they</c><00:01:39.240><c> go</c><00:01:39.439><c> Fairly</c>

00:01:39.789 --> 00:01:39.799 align:start position:0%
below and in this paper they go Fairly
 

00:01:39.799 --> 00:01:42.389 align:start position:0%
below and in this paper they go Fairly
deep<00:01:40.159><c> into</c><00:01:40.600><c> analyzing</c><00:01:41.200><c> tornado</c><00:01:41.759><c> cache</c><00:01:42.200><c> and</c>

00:01:42.389 --> 00:01:42.399 align:start position:0%
deep into analyzing tornado cache and
 

00:01:42.399 --> 00:01:44.990 align:start position:0%
deep into analyzing tornado cache and
sanctions<00:01:42.960><c> enforcement</c><00:01:43.640><c> on</c><00:01:44.119><c> decentralized</c>

00:01:44.990 --> 00:01:45.000 align:start position:0%
sanctions enforcement on decentralized
 

00:01:45.000 --> 00:01:47.149 align:start position:0%
sanctions enforcement on decentralized
blockchains<00:01:46.000><c> um</c><00:01:46.200><c> kind</c><00:01:46.320><c> of</c><00:01:46.479><c> enumerating</c>

00:01:47.149 --> 00:01:47.159 align:start position:0%
blockchains um kind of enumerating
 

00:01:47.159 --> 00:01:49.230 align:start position:0%
blockchains um kind of enumerating
various<00:01:47.600><c> power</c><00:01:47.920><c> dynamics</c><00:01:48.399><c> choke</c><00:01:48.799><c> points</c><00:01:49.040><c> and</c>

00:01:49.230 --> 00:01:49.240 align:start position:0%
various power dynamics choke points and
 

00:01:49.240 --> 00:01:51.630 align:start position:0%
various power dynamics choke points and
other<00:01:49.439><c> levers</c><00:01:49.840><c> in</c><00:01:49.960><c> the</c><00:01:50.200><c> system</c><00:01:51.200><c> uh</c><00:01:51.320><c> and</c><00:01:51.439><c> then</c>

00:01:51.630 --> 00:01:51.640 align:start position:0%
other levers in the system uh and then
 

00:01:51.640 --> 00:01:53.350 align:start position:0%
other levers in the system uh and then
studying<00:01:52.240><c> how</c><00:01:52.439><c> effectively</c><00:01:52.960><c> they</c><00:01:53.079><c> can</c><00:01:53.240><c> kind</c>

00:01:53.350 --> 00:01:53.360 align:start position:0%
studying how effectively they can kind
 

00:01:53.360 --> 00:01:55.550 align:start position:0%
studying how effectively they can kind
of<00:01:53.479><c> manipulate</c><00:01:54.000><c> these</c><00:01:54.159><c> levers</c><00:01:54.520><c> of</c><00:01:54.759><c> power</c><00:01:55.399><c> to</c>

00:01:55.550 --> 00:01:55.560 align:start position:0%
of manipulate these levers of power to
 

00:01:55.560 --> 00:01:57.350 align:start position:0%
of manipulate these levers of power to
do<00:01:55.759><c> things</c><00:01:56.000><c> like</c><00:01:56.159><c> stop</c><00:01:56.520><c> Technologies</c><00:01:57.240><c> they</c>

00:01:57.350 --> 00:01:57.360 align:start position:0%
do things like stop Technologies they
 

00:01:57.360 --> 00:01:59.510 align:start position:0%
do things like stop Technologies they
don't<00:01:57.640><c> like</c><00:01:58.280><c> um</c><00:01:58.479><c> Technologies</c><00:01:59.159><c> which</c><00:01:59.360><c> for</c>

00:01:59.510 --> 00:01:59.520 align:start position:0%
don't like um Technologies which for
 

00:01:59.520 --> 00:02:02.270 align:start position:0%
don't like um Technologies which for
example<00:02:00.079><c> many</c><00:02:00.320><c> people</c><00:02:00.600><c> here</c><00:02:01.399><c> uh</c><00:02:01.560><c> may</c><00:02:01.799><c> have</c>

00:02:02.270 --> 00:02:02.280 align:start position:0%
example many people here uh may have
 

00:02:02.280 --> 00:02:05.789 align:start position:0%
example many people here uh may have
different<00:02:02.560><c> feelings</c><00:02:03.439><c> about</c><00:02:04.439><c> so</c><00:02:05.280><c> um</c><00:02:05.520><c> actually</c>

00:02:05.789 --> 00:02:05.799 align:start position:0%
different feelings about so um actually
 

00:02:05.799 --> 00:02:07.789 align:start position:0%
different feelings about so um actually
let<00:02:05.920><c> me</c><00:02:06.039><c> go</c><00:02:06.200><c> back</c><00:02:06.360><c> to</c><00:02:06.560><c> that</c><00:02:07.240><c> if</c><00:02:07.360><c> I</c><00:02:07.439><c> can</c><00:02:07.560><c> figure</c>

00:02:07.789 --> 00:02:07.799 align:start position:0%
let me go back to that if I can figure
 

00:02:07.799 --> 00:02:10.229 align:start position:0%
let me go back to that if I can figure
out<00:02:07.960><c> the</c><00:02:08.080><c> clicker</c><00:02:08.920><c> um</c><00:02:09.560><c> yeah</c><00:02:09.759><c> so</c><00:02:10.080><c> an</c>

00:02:10.229 --> 00:02:10.239 align:start position:0%
out the clicker um yeah so an
 

00:02:10.239 --> 00:02:11.710 align:start position:0%
out the clicker um yeah so an
interesting<00:02:10.679><c> thing</c><00:02:10.879><c> about</c><00:02:11.120><c> this</c><00:02:11.280><c> picture</c><00:02:11.560><c> is</c>

00:02:11.710 --> 00:02:11.720 align:start position:0%
interesting thing about this picture is
 

00:02:11.720 --> 00:02:14.790 align:start position:0%
interesting thing about this picture is
it<00:02:11.840><c> shows</c><00:02:12.200><c> the</c><00:02:12.360><c> approach</c><00:02:13.360><c> that</c><00:02:13.760><c> as</c><00:02:14.080><c> the</c><00:02:14.400><c> nation</c>

00:02:14.790 --> 00:02:14.800 align:start position:0%
it shows the approach that as the nation
 

00:02:14.800 --> 00:02:16.949 align:start position:0%
it shows the approach that as the nation
state<00:02:15.160><c> game</c><00:02:15.440><c> escalates</c><00:02:16.120><c> as</c><00:02:16.280><c> we</c><00:02:16.480><c> really</c><00:02:16.760><c> go</c>

00:02:16.949 --> 00:02:16.959 align:start position:0%
state game escalates as we really go
 

00:02:16.959 --> 00:02:18.350 align:start position:0%
state game escalates as we really go
deep<00:02:17.239><c> into</c><00:02:17.440><c> this</c><00:02:17.599><c> mission</c><00:02:17.840><c> of</c>

00:02:18.350 --> 00:02:18.360 align:start position:0%
deep into this mission of
 

00:02:18.360 --> 00:02:20.390 align:start position:0%
deep into this mission of
decentralization<00:02:19.360><c> that</c><00:02:19.599><c> various</c><00:02:20.080><c> kind</c><00:02:20.239><c> of</c>

00:02:20.390 --> 00:02:20.400 align:start position:0%
decentralization that various kind of
 

00:02:20.400 --> 00:02:22.309 align:start position:0%
decentralization that various kind of
centralized<00:02:21.000><c> parties</c><00:02:21.440><c> take</c><00:02:21.720><c> on</c><00:02:21.920><c> these</c><00:02:22.080><c> things</c>

00:02:22.309 --> 00:02:22.319 align:start position:0%
centralized parties take on these things
 

00:02:22.319 --> 00:02:24.589 align:start position:0%
centralized parties take on these things
we<00:02:22.480><c> build</c><00:02:23.160><c> and</c><00:02:23.280><c> it's</c><00:02:23.480><c> very</c><00:02:23.720><c> simple</c><00:02:24.120><c> it's</c><00:02:24.280><c> about</c>

00:02:24.589 --> 00:02:24.599 align:start position:0%
we build and it's very simple it's about
 

00:02:24.599 --> 00:02:27.589 align:start position:0%
we build and it's very simple it's about
control<00:02:25.480><c> it's</c><00:02:25.680><c> about</c><00:02:25.920><c> the</c><00:02:26.080><c> boxes</c><00:02:26.519><c> of</c><00:02:26.760><c> control</c>

00:02:27.589 --> 00:02:27.599 align:start position:0%
control it's about the boxes of control
 

00:02:27.599 --> 00:02:29.270 align:start position:0%
control it's about the boxes of control
and<00:02:27.760><c> it's</c><00:02:27.920><c> about</c><00:02:28.200><c> how</c><00:02:28.319><c> to</c><00:02:28.480><c> leverage</c><00:02:28.920><c> them</c><00:02:29.160><c> and</c>

00:02:29.270 --> 00:02:29.280 align:start position:0%
and it's about how to leverage them and
 

00:02:29.280 --> 00:02:31.710 align:start position:0%
and it's about how to leverage them and
make<00:02:29.440><c> sure</c><00:02:29.640><c> we</c><00:02:30.000><c> put</c><00:02:30.239><c> as</c><00:02:30.400><c> many</c><00:02:30.640><c> X</c><00:02:31.120><c> into</c><00:02:31.440><c> these</c>

00:02:31.710 --> 00:02:31.720 align:start position:0%
make sure we put as many X into these
 

00:02:31.720 --> 00:02:35.070 align:start position:0%
make sure we put as many X into these
boxes<00:02:32.160><c> that</c><00:02:32.280><c> we</c><00:02:32.400><c> see</c><00:02:32.680><c> here</c><00:02:33.560><c> um</c><00:02:33.800><c> as</c><00:02:34.040><c> possible</c><00:02:34.879><c> so</c>

00:02:35.070 --> 00:02:35.080 align:start position:0%
boxes that we see here um as possible so
 

00:02:35.080 --> 00:02:36.990 align:start position:0%
boxes that we see here um as possible so
that's<00:02:35.239><c> the</c><00:02:35.360><c> first</c><00:02:35.599><c> disturbing</c><00:02:36.120><c> picture</c><00:02:36.879><c> the</c>

00:02:36.990 --> 00:02:37.000 align:start position:0%
that's the first disturbing picture the
 

00:02:37.000 --> 00:02:39.630 align:start position:0%
that's the first disturbing picture the
second<00:02:37.319><c> one</c><00:02:37.879><c> uh</c><00:02:38.040><c> so</c><00:02:38.280><c> this</c><00:02:38.440><c> is</c><00:02:38.800><c> a</c><00:02:39.080><c> graphic</c><00:02:39.519><c> that</c>

00:02:39.630 --> 00:02:39.640 align:start position:0%
second one uh so this is a graphic that
 

00:02:39.640 --> 00:02:42.110 align:start position:0%
second one uh so this is a graphic that
you<00:02:39.720><c> can</c><00:02:39.920><c> go</c><00:02:40.120><c> browse</c><00:02:40.519><c> yourself</c><00:02:40.920><c> online</c><00:02:41.560><c> the</c><00:02:41.959><c> uh</c>

00:02:42.110 --> 00:02:42.120 align:start position:0%
you can go browse yourself online the uh
 

00:02:42.120 --> 00:02:44.830 align:start position:0%
you can go browse yourself online the uh
URL<00:02:42.599><c> is</c><00:02:42.840><c> up</c><00:02:43.120><c> there</c><00:02:43.879><c> uh</c><00:02:44.000><c> I</c><00:02:44.080><c> can't</c><00:02:44.319><c> read</c><00:02:44.480><c> it</c><00:02:44.640><c> from</c>

00:02:44.830 --> 00:02:44.840 align:start position:0%
URL is up there uh I can't read it from
 

00:02:44.840 --> 00:02:48.309 align:start position:0%
URL is up there uh I can't read it from
this<00:02:45.040><c> distance</c><00:02:45.560><c> but</c><00:02:45.800><c> uh</c><00:02:45.959><c> benj</c><00:02:46.400><c> dd.com</c><00:02:47.319><c> AWS</c>

00:02:48.309 --> 00:02:48.319 align:start position:0%
this distance but uh benj dd.com AWS
 

00:02:48.319 --> 00:02:50.550 align:start position:0%
this distance but uh benj dd.com AWS
there<00:02:48.480><c> we</c><00:02:48.640><c> go</c><00:02:49.480><c> and</c><00:02:49.680><c> here</c><00:02:49.840><c> you</c><00:02:49.959><c> can</c><00:02:50.200><c> go</c><00:02:50.360><c> through</c>

00:02:50.550 --> 00:02:50.560 align:start position:0%
there we go and here you can go through
 

00:02:50.560 --> 00:02:52.630 align:start position:0%
there we go and here you can go through
the<00:02:50.720><c> various</c><00:02:51.080><c> different</c><00:02:51.360><c> AWS</c><00:02:52.040><c> data</c><00:02:52.239><c> centers</c>

00:02:52.630 --> 00:02:52.640 align:start position:0%
the various different AWS data centers
 

00:02:52.640 --> 00:02:55.550 align:start position:0%
the various different AWS data centers
worldwide<00:02:53.400><c> and</c><00:02:53.599><c> kind</c><00:02:53.800><c> of</c><00:02:54.080><c> view</c><00:02:54.680><c> different</c><00:02:55.440><c> uh</c>

00:02:55.550 --> 00:02:55.560 align:start position:0%
worldwide and kind of view different uh
 

00:02:55.560 --> 00:02:59.589 align:start position:0%
worldwide and kind of view different uh
AWS<00:02:56.200><c> to</c><00:02:56.360><c> AWS</c><00:02:56.920><c> latency</c><00:02:57.879><c> pictures</c><00:02:58.879><c> um</c><00:02:59.120><c> in</c><00:02:59.239><c> a</c><00:02:59.360><c> very</c>

00:02:59.589 --> 00:02:59.599 align:start position:0%
AWS to AWS latency pictures um in a very
 

00:02:59.599 --> 00:03:01.589 align:start position:0%
AWS to AWS latency pictures um in a very
real<00:03:00.040><c> world</c><00:03:00.360><c> this</c><00:03:00.440><c> is</c><00:03:00.640><c> the</c><00:03:00.800><c> topology</c><00:03:01.319><c> of</c><00:03:01.480><c> the</c>

00:03:01.589 --> 00:03:01.599 align:start position:0%
real world this is the topology of the
 

00:03:01.599 --> 00:03:03.390 align:start position:0%
real world this is the topology of the
internet<00:03:02.040><c> of</c><00:03:02.159><c> the</c><00:03:02.319><c> networks</c><00:03:02.879><c> on</c><00:03:03.080><c> which</c><00:03:03.239><c> we're</c>

00:03:03.390 --> 00:03:03.400 align:start position:0%
internet of the networks on which we're
 

00:03:03.400 --> 00:03:06.030 align:start position:0%
internet of the networks on which we're
building<00:03:03.720><c> our</c><00:03:04.120><c> Technologies</c><00:03:04.799><c> today</c><00:03:05.799><c> uh</c><00:03:05.879><c> so</c>

00:03:06.030 --> 00:03:06.040 align:start position:0%
building our Technologies today uh so
 

00:03:06.040 --> 00:03:07.309 align:start position:0%
building our Technologies today uh so
you<00:03:06.120><c> can</c><00:03:06.239><c> see</c><00:03:06.400><c> on</c><00:03:06.519><c> the</c><00:03:06.640><c> left</c><00:03:06.879><c> there</c><00:03:07.040><c> you</c><00:03:07.159><c> have</c>

00:03:07.309 --> 00:03:07.319 align:start position:0%
you can see on the left there you have
 

00:03:07.319 --> 00:03:09.949 align:start position:0%
you can see on the left there you have
us<00:03:07.640><c> east1</c><00:03:08.360><c> which</c><00:03:08.480><c> is</c><00:03:08.640><c> the</c><00:03:08.760><c> most</c><00:03:09.040><c> popular</c><00:03:09.360><c> AWS</c>

00:03:09.949 --> 00:03:09.959 align:start position:0%
us east1 which is the most popular AWS
 

00:03:09.959 --> 00:03:12.309 align:start position:0%
us east1 which is the most popular AWS
data<00:03:10.200><c> center</c><00:03:10.400><c> for</c><00:03:10.560><c> crypto</c><00:03:11.159><c> deployments</c><00:03:12.159><c> uh</c>

00:03:12.309 --> 00:03:12.319 align:start position:0%
data center for crypto deployments uh
 

00:03:12.319 --> 00:03:15.350 align:start position:0%
data center for crypto deployments uh
and<00:03:12.599><c> the</c><00:03:12.760><c> lighter</c><00:03:13.080><c> the</c><00:03:13.239><c> color</c><00:03:13.879><c> uh</c><00:03:13.959><c> or</c><00:03:14.159><c> sorry</c><00:03:14.840><c> uh</c>

00:03:15.350 --> 00:03:15.360 align:start position:0%
and the lighter the color uh or sorry uh
 

00:03:15.360 --> 00:03:16.949 align:start position:0%
and the lighter the color uh or sorry uh
I<00:03:15.480><c> guess</c><00:03:15.640><c> they</c><00:03:15.799><c> change</c><00:03:16.159><c> the</c><00:03:16.280><c> color</c><00:03:16.519><c> scheme</c><00:03:16.840><c> but</c>

00:03:16.949 --> 00:03:16.959 align:start position:0%
I guess they change the color scheme but
 

00:03:16.959 --> 00:03:18.589 align:start position:0%
I guess they change the color scheme but
I<00:03:17.040><c> think</c><00:03:17.200><c> the</c><00:03:17.319><c> blue</c><00:03:17.599><c> lines</c><00:03:18.040><c> are</c><00:03:18.280><c> things</c><00:03:18.519><c> that</c>

00:03:18.589 --> 00:03:18.599 align:start position:0%
I think the blue lines are things that
 

00:03:18.599 --> 00:03:20.630 align:start position:0%
I think the blue lines are things that
are<00:03:18.840><c> like</c><00:03:19.239><c> approximately</c><00:03:19.920><c> on</c><00:03:20.120><c> the</c><00:03:20.239><c> order</c><00:03:20.519><c> of</c>

00:03:20.630 --> 00:03:20.640 align:start position:0%
are like approximately on the order of
 

00:03:20.640 --> 00:03:23.390 align:start position:0%
are like approximately on the order of
under<00:03:20.879><c> 400</c><00:03:21.680><c> milliseconds</c><00:03:22.680><c> uh</c><00:03:22.799><c> the</c><00:03:22.920><c> light</c><00:03:23.159><c> blue</c>

00:03:23.390 --> 00:03:23.400 align:start position:0%
under 400 milliseconds uh the light blue
 

00:03:23.400 --> 00:03:26.470 align:start position:0%
under 400 milliseconds uh the light blue
line<00:03:24.040><c> is</c><00:03:24.440><c> is</c><00:03:24.720><c> kind</c><00:03:24.879><c> of</c><00:03:25.200><c> or</c><00:03:25.720><c> maybe</c><00:03:25.920><c> it's</c><00:03:26.040><c> under</c>

00:03:26.470 --> 00:03:26.480 align:start position:0%
line is is kind of or maybe it's under
 

00:03:26.480 --> 00:03:28.789 align:start position:0%
line is is kind of or maybe it's under
200<00:03:27.120><c> and</c><00:03:27.200><c> the</c><00:03:27.319><c> light</c><00:03:27.519><c> blue</c><00:03:27.720><c> line</c><00:03:27.920><c> is</c><00:03:28.040><c> over</c><00:03:28.519><c> 200</c>

00:03:28.789 --> 00:03:28.799 align:start position:0%
200 and the light blue line is over 200
 

00:03:28.799 --> 00:03:31.509 align:start position:0%
200 and the light blue line is over 200
Etc<00:03:30.040><c> um</c><00:03:30.200><c> but</c><00:03:30.319><c> you</c><00:03:30.439><c> can</c><00:03:30.560><c> see</c><00:03:30.920><c> there</c><00:03:31.120><c> there</c><00:03:31.319><c> these</c>

00:03:31.509 --> 00:03:31.519 align:start position:0%
Etc um but you can see there there these
 

00:03:31.519 --> 00:03:33.470 align:start position:0%
Etc um but you can see there there these
very<00:03:31.720><c> clear</c><00:03:32.080><c> corridors</c><00:03:32.640><c> of</c><00:03:32.760><c> latency</c><00:03:33.239><c> and</c>

00:03:33.470 --> 00:03:33.480 align:start position:0%
very clear corridors of latency and
 

00:03:33.480 --> 00:03:36.030 align:start position:0%
very clear corridors of latency and
power<00:03:33.840><c> that</c><00:03:33.959><c> we've</c><00:03:34.159><c> built</c><00:03:35.000><c> why</c><00:03:35.159><c> is</c><00:03:35.400><c> that</c><00:03:35.799><c> well</c>

00:03:36.030 --> 00:03:36.040 align:start position:0%
power that we've built why is that well
 

00:03:36.040 --> 00:03:37.509 align:start position:0%
power that we've built why is that well
because<00:03:36.400><c> that</c><00:03:36.519><c> is</c><00:03:36.680><c> where</c><00:03:36.879><c> the</c><00:03:37.000><c> data</c><00:03:37.239><c> centers</c>

00:03:37.509 --> 00:03:37.519 align:start position:0%
because that is where the data centers
 

00:03:37.519 --> 00:03:39.390 align:start position:0%
because that is where the data centers
are<00:03:37.760><c> that</c><00:03:37.920><c> is</c><00:03:38.040><c> where</c><00:03:38.200><c> the</c><00:03:38.360><c> economic</c><00:03:38.920><c> activity</c>

00:03:39.390 --> 00:03:39.400 align:start position:0%
are that is where the economic activity
 

00:03:39.400 --> 00:03:41.350 align:start position:0%
are that is where the economic activity
is<00:03:39.680><c> that</c><00:03:39.799><c> is</c><00:03:39.920><c> where</c><00:03:40.080><c> in</c><00:03:40.239><c> many</c><00:03:40.480><c> cases</c><00:03:40.840><c> the</c><00:03:40.959><c> users</c>

00:03:41.350 --> 00:03:41.360 align:start position:0%
is that is where in many cases the users
 

00:03:41.360 --> 00:03:43.350 align:start position:0%
is that is where in many cases the users
are<00:03:41.920><c> that</c><00:03:42.040><c> is</c><00:03:42.159><c> where</c><00:03:42.439><c> companies</c><00:03:42.879><c> want</c><00:03:43.040><c> to</c><00:03:43.200><c> have</c>

00:03:43.350 --> 00:03:43.360 align:start position:0%
are that is where companies want to have
 

00:03:43.360 --> 00:03:44.910 align:start position:0%
are that is where companies want to have
their<00:03:43.519><c> servers</c><00:03:43.920><c> and</c><00:03:44.040><c> want</c><00:03:44.159><c> to</c><00:03:44.280><c> build</c><00:03:44.480><c> their</c>

00:03:44.910 --> 00:03:44.920 align:start position:0%
their servers and want to build their
 

00:03:44.920 --> 00:03:46.750 align:start position:0%
their servers and want to build their
infrastructure<00:03:45.920><c> um</c><00:03:46.120><c> that</c><00:03:46.239><c> is</c><00:03:46.360><c> where</c><00:03:46.560><c> the</c>

00:03:46.750 --> 00:03:46.760 align:start position:0%
infrastructure um that is where the
 

00:03:46.760 --> 00:03:48.509 align:start position:0%
infrastructure um that is where the
capital<00:03:47.159><c> is</c><00:03:47.319><c> and</c><00:03:47.439><c> the</c><00:03:47.599><c> investors</c><00:03:48.080><c> and</c><00:03:48.239><c> all</c><00:03:48.360><c> of</c>

00:03:48.509 --> 00:03:48.519 align:start position:0%
capital is and the investors and all of
 

00:03:48.519 --> 00:03:50.429 align:start position:0%
capital is and the investors and all of
these<00:03:48.720><c> pieces</c><00:03:49.000><c> of</c><00:03:49.120><c> the</c><00:03:49.239><c> puzzle</c><00:03:49.959><c> and</c><00:03:50.040><c> so</c><00:03:50.239><c> we've</c>

00:03:50.429 --> 00:03:50.439 align:start position:0%
these pieces of the puzzle and so we've
 

00:03:50.439 --> 00:03:53.030 align:start position:0%
these pieces of the puzzle and so we've
built<00:03:50.760><c> a</c><00:03:51.000><c> power</c><00:03:51.400><c> overlay</c><00:03:52.120><c> using</c><00:03:52.439><c> the</c><00:03:52.560><c> latency</c>

00:03:53.030 --> 00:03:53.040 align:start position:0%
built a power overlay using the latency
 

00:03:53.040 --> 00:03:54.910 align:start position:0%
built a power overlay using the latency
structure<00:03:53.400><c> of</c><00:03:53.519><c> the</c><00:03:53.599><c> internet</c><00:03:54.040><c> on</c><00:03:54.280><c> top</c><00:03:54.439><c> of</c><00:03:54.640><c> that</c>

00:03:54.910 --> 00:03:54.920 align:start position:0%
structure of the internet on top of that
 

00:03:54.920 --> 00:03:57.869 align:start position:0%
structure of the internet on top of that
and<00:03:55.040><c> this</c><00:03:55.159><c> is</c><00:03:55.319><c> what</c><00:03:55.400><c> it</c><00:03:55.560><c> looks</c><00:03:55.959><c> like</c><00:03:56.959><c> um</c><00:03:57.200><c> so</c><00:03:57.640><c> we</c>

00:03:57.869 --> 00:03:57.879 align:start position:0%
and this is what it looks like um so we
 

00:03:57.879 --> 00:03:59.149 align:start position:0%
and this is what it looks like um so we
exist<00:03:58.159><c> in</c><00:03:58.280><c> a</c><00:03:58.400><c> world</c><00:03:58.640><c> where</c><00:03:58.760><c> there</c><00:03:58.840><c> are</c><00:03:59.000><c> two</c>

00:03:59.149 --> 00:03:59.159 align:start position:0%
exist in a world where there are two
 

00:03:59.159 --> 00:04:00.949 align:start position:0%
exist in a world where there are two
fundamental<00:03:59.840><c> realities</c><00:04:00.319><c> the</c><00:04:00.439><c> first</c><00:04:00.640><c> one</c><00:04:00.799><c> is</c>

00:04:00.949 --> 00:04:00.959 align:start position:0%
fundamental realities the first one is
 

00:04:00.959 --> 00:04:02.509 align:start position:0%
fundamental realities the first one is
that<00:04:01.120><c> much</c><00:04:01.280><c> of</c><00:04:01.400><c> the</c><00:04:01.480><c> world's</c><00:04:01.920><c> power</c><00:04:02.280><c> is</c>

00:04:02.509 --> 00:04:02.519 align:start position:0%
that much of the world's power is
 

00:04:02.519 --> 00:04:04.630 align:start position:0%
that much of the world's power is
already<00:04:03.079><c> centralized</c><00:04:04.079><c> that</c><00:04:04.200><c> includes</c>

00:04:04.630 --> 00:04:04.640 align:start position:0%
already centralized that includes
 

00:04:04.640 --> 00:04:06.509 align:start position:0%
already centralized that includes
military<00:04:05.159><c> power</c><00:04:05.720><c> economic</c><00:04:06.200><c> power</c>

00:04:06.509 --> 00:04:06.519 align:start position:0%
military power economic power
 

00:04:06.519 --> 00:04:09.949 align:start position:0%
military power economic power
geopolitical<00:04:07.200><c> power</c><00:04:07.519><c> Social</c><00:04:07.959><c> Power</c><00:04:08.640><c> and</c><00:04:08.959><c> more</c>

00:04:09.949 --> 00:04:09.959 align:start position:0%
geopolitical power Social Power and more
 

00:04:09.959 --> 00:04:12.110 align:start position:0%
geopolitical power Social Power and more
um<00:04:10.239><c> and</c><00:04:10.439><c> on</c><00:04:10.680><c> top</c><00:04:10.840><c> of</c><00:04:11.040><c> that</c><00:04:11.400><c> the</c><00:04:11.560><c> disturbing</c>

00:04:12.110 --> 00:04:12.120 align:start position:0%
um and on top of that the disturbing
 

00:04:12.120 --> 00:04:14.589 align:start position:0%
um and on top of that the disturbing
trend<00:04:12.640><c> is</c><00:04:12.879><c> that</c><00:04:13.079><c> centralization</c><00:04:13.879><c> begets</c><00:04:14.319><c> more</c>

00:04:14.589 --> 00:04:14.599 align:start position:0%
trend is that centralization begets more
 

00:04:14.599 --> 00:04:17.390 align:start position:0%
trend is that centralization begets more
centralization<00:04:15.519><c> so</c><00:04:16.040><c> centralization</c><00:04:17.040><c> is</c><00:04:17.160><c> an</c>

00:04:17.390 --> 00:04:17.400 align:start position:0%
centralization so centralization is an
 

00:04:17.400 --> 00:04:20.310 align:start position:0%
centralization so centralization is an
accelerationist<00:04:18.239><c> Loop</c><00:04:18.639><c> onto</c><00:04:19.079><c> itself</c><00:04:20.079><c> uh</c><00:04:20.239><c> this</c>

00:04:20.310 --> 00:04:20.320 align:start position:0%
accelerationist Loop onto itself uh this
 

00:04:20.320 --> 00:04:22.270 align:start position:0%
accelerationist Loop onto itself uh this
is<00:04:20.560><c> present</c><00:04:20.840><c> in</c><00:04:21.000><c> markets</c><00:04:21.479><c> through</c><00:04:21.720><c> phenomena</c>

00:04:22.270 --> 00:04:22.280 align:start position:0%
is present in markets through phenomena
 

00:04:22.280 --> 00:04:24.270 align:start position:0%
is present in markets through phenomena
like<00:04:22.520><c> economies</c><00:04:22.919><c> of</c><00:04:23.080><c> scale</c><00:04:23.520><c> or</c><00:04:23.759><c> Winner</c><00:04:24.000><c> Takes</c>

00:04:24.270 --> 00:04:24.280 align:start position:0%
like economies of scale or Winner Takes
 

00:04:24.280 --> 00:04:26.670 align:start position:0%
like economies of scale or Winner Takes
all<00:04:24.840><c> it's</c><00:04:25.040><c> present</c><00:04:25.320><c> in</c><00:04:25.440><c> Zero</c><00:04:25.759><c> Sum</c><00:04:26.080><c> games</c><00:04:26.520><c> such</c>

00:04:26.670 --> 00:04:26.680 align:start position:0%
all it's present in Zero Sum games such
 

00:04:26.680 --> 00:04:29.909 align:start position:0%
all it's present in Zero Sum games such
as<00:04:26.880><c> trading</c><00:04:27.680><c> it's</c><00:04:27.919><c> present</c><00:04:28.199><c> in</c><00:04:28.360><c> auctions</c><00:04:29.000><c> Etc</c>

00:04:29.909 --> 00:04:29.919 align:start position:0%
as trading it's present in auctions Etc
 

00:04:29.919 --> 00:04:31.150 align:start position:0%
as trading it's present in auctions Etc
so<00:04:30.080><c> when</c><00:04:30.199><c> you</c><00:04:30.400><c> have</c><00:04:30.600><c> one</c><00:04:30.800><c> sort</c><00:04:31.000><c> of</c>

00:04:31.150 --> 00:04:31.160 align:start position:0%
so when you have one sort of
 

00:04:31.160 --> 00:04:33.189 align:start position:0%
so when you have one sort of
centralizing<00:04:31.840><c> vector</c><00:04:32.240><c> that</c><00:04:32.360><c> tends</c><00:04:32.600><c> to</c><00:04:32.800><c> bring</c>

00:04:33.189 --> 00:04:33.199 align:start position:0%
centralizing vector that tends to bring
 

00:04:33.199 --> 00:04:35.270 align:start position:0%
centralizing vector that tends to bring
all<00:04:33.360><c> sorts</c><00:04:33.680><c> of</c><00:04:33.840><c> centralization</c><00:04:34.560><c> into</c><00:04:34.840><c> various</c>

00:04:35.270 --> 00:04:35.280 align:start position:0%
all sorts of centralization into various
 

00:04:35.280 --> 00:04:37.110 align:start position:0%
all sorts of centralization into various
aspects<00:04:35.639><c> of</c><00:04:35.759><c> your</c><00:04:35.919><c> system</c><00:04:36.680><c> something</c><00:04:36.960><c> we</c>

00:04:37.110 --> 00:04:37.120 align:start position:0%
aspects of your system something we
 

00:04:37.120 --> 00:04:38.870 align:start position:0%
aspects of your system something we
really<00:04:37.320><c> want</c><00:04:37.440><c> to</c><00:04:37.680><c> avoid</c><00:04:38.039><c> if</c><00:04:38.360><c> as</c><00:04:38.479><c> we</c><00:04:38.600><c> said</c>

00:04:38.870 --> 00:04:38.880 align:start position:0%
really want to avoid if as we said
 

00:04:38.880 --> 00:04:40.909 align:start position:0%
really want to avoid if as we said
before<00:04:39.520><c> deconstructing</c><00:04:40.199><c> the</c><00:04:40.320><c> nation</c><00:04:40.639><c> state</c>

00:04:40.909 --> 00:04:40.919 align:start position:0%
before deconstructing the nation state
 

00:04:40.919 --> 00:04:43.670 align:start position:0%
before deconstructing the nation state
is<00:04:41.039><c> it</c><00:04:41.160><c> all</c><00:04:41.360><c> on</c><00:04:41.479><c> the</c><00:04:41.600><c> radar</c><00:04:41.919><c> for</c><00:04:42.160><c> this</c><00:04:42.680><c> project</c>

00:04:43.670 --> 00:04:43.680 align:start position:0%
is it all on the radar for this project
 

00:04:43.680 --> 00:04:45.310 align:start position:0%
is it all on the radar for this project
so<00:04:43.880><c> what</c><00:04:44.000><c> I</c><00:04:44.120><c> would</c><00:04:44.320><c> say</c><00:04:44.639><c> that</c><00:04:44.800><c> given</c><00:04:45.080><c> that</c><00:04:45.199><c> we</c>

00:04:45.310 --> 00:04:45.320 align:start position:0%
so what I would say that given that we
 

00:04:45.320 --> 00:04:47.310 align:start position:0%
so what I would say that given that we
are<00:04:45.440><c> in</c><00:04:45.600><c> these</c><00:04:45.880><c> situations</c><00:04:46.479><c> we</c><00:04:46.680><c> have</c><00:04:46.800><c> to</c><00:04:47.000><c> stop</c>

00:04:47.310 --> 00:04:47.320 align:start position:0%
are in these situations we have to stop
 

00:04:47.320 --> 00:04:49.710 align:start position:0%
are in these situations we have to stop
yoloing<00:04:48.240><c> uh</c><00:04:48.400><c> protocol</c><00:04:48.919><c> proposals</c><00:04:49.440><c> and</c>

00:04:49.710 --> 00:04:49.720 align:start position:0%
yoloing uh protocol proposals and
 

00:04:49.720 --> 00:04:51.909 align:start position:0%
yoloing uh protocol proposals and
upgrades<00:04:50.639><c> uh</c><00:04:50.759><c> in</c><00:04:50.880><c> terms</c><00:04:51.160><c> of</c><00:04:51.360><c> this</c><00:04:51.600><c> power</c>

00:04:51.909 --> 00:04:51.919 align:start position:0%
upgrades uh in terms of this power
 

00:04:51.919 --> 00:04:53.950 align:start position:0%
upgrades uh in terms of this power
Dynamic<00:04:52.440><c> and</c><00:04:52.600><c> this</c><00:04:52.800><c> topology</c><00:04:53.360><c> on</c><00:04:53.520><c> which</c><00:04:53.759><c> we</c>

00:04:53.950 --> 00:04:53.960 align:start position:0%
Dynamic and this topology on which we
 

00:04:53.960 --> 00:04:55.950 align:start position:0%
Dynamic and this topology on which we
exist<00:04:54.759><c> and</c><00:04:54.960><c> instead</c><00:04:55.320><c> we</c><00:04:55.479><c> have</c><00:04:55.600><c> to</c><00:04:55.759><c> start</c>

00:04:55.950 --> 00:04:55.960 align:start position:0%
exist and instead we have to start
 

00:04:55.960 --> 00:04:57.990 align:start position:0%
exist and instead we have to start
treating<00:04:56.400><c> distribution</c><00:04:56.880><c> of</c><00:04:57.080><c> power</c><00:04:57.440><c> globally</c>

00:04:57.990 --> 00:04:58.000 align:start position:0%
treating distribution of power globally
 

00:04:58.000 --> 00:04:59.790 align:start position:0%
treating distribution of power globally
as<00:04:58.120><c> a</c><00:04:58.280><c> first</c><00:04:58.639><c> class</c><00:04:58.919><c> goal</c><00:04:59.160><c> for</c><00:04:59.280><c> the</c><00:04:59.400><c> next</c>

00:04:59.790 --> 00:04:59.800 align:start position:0%
as a first class goal for the next
 

00:04:59.800 --> 00:05:02.390 align:start position:0%
as a first class goal for the next
chapter<00:05:00.080><c> of</c><00:05:00.240><c> eth</c><00:05:00.919><c> how</c><00:05:01.120><c> can</c><00:05:01.280><c> we</c><00:05:01.479><c> be</c><00:05:01.800><c> intentional</c>

00:05:02.390 --> 00:05:02.400 align:start position:0%
chapter of eth how can we be intentional
 

00:05:02.400 --> 00:05:03.950 align:start position:0%
chapter of eth how can we be intentional
about<00:05:02.639><c> where</c><00:05:02.759><c> we're</c><00:05:02.960><c> pushing</c><00:05:03.360><c> power</c><00:05:03.639><c> in</c><00:05:03.800><c> the</c>

00:05:03.950 --> 00:05:03.960 align:start position:0%
about where we're pushing power in the
 

00:05:03.960 --> 00:05:06.550 align:start position:0%
about where we're pushing power in the
system<00:05:04.800><c> this</c><00:05:04.919><c> is</c><00:05:05.240><c> much</c><00:05:05.600><c> much</c><00:05:05.840><c> more</c><00:05:06.120><c> important</c>

00:05:06.550 --> 00:05:06.560 align:start position:0%
system this is much much more important
 

00:05:06.560 --> 00:05:08.590 align:start position:0%
system this is much much more important
than<00:05:06.680><c> the</c><00:05:06.800><c> performance</c><00:05:07.199><c> of</c><00:05:07.360><c> the</c><00:05:07.479><c> system</c><00:05:08.280><c> fast</c>

00:05:08.590 --> 00:05:08.600 align:start position:0%
than the performance of the system fast
 

00:05:08.600 --> 00:05:10.950 align:start position:0%
than the performance of the system fast
block<00:05:08.960><c> times</c><00:05:09.320><c> throughput</c><00:05:09.919><c> latency</c><00:05:10.560><c> anything</c>

00:05:10.950 --> 00:05:10.960 align:start position:0%
block times throughput latency anything
 

00:05:10.960 --> 00:05:13.350 align:start position:0%
block times throughput latency anything
like<00:05:11.199><c> that</c><00:05:12.199><c> because</c><00:05:12.520><c> if</c><00:05:12.639><c> you</c><00:05:12.880><c> have</c><00:05:13.120><c> those</c>

00:05:13.350 --> 00:05:13.360 align:start position:0%
like that because if you have those
 

00:05:13.360 --> 00:05:15.270 align:start position:0%
like that because if you have those
things<00:05:13.800><c> without</c><00:05:14.160><c> having</c><00:05:14.440><c> distributed</c><00:05:15.039><c> power</c>

00:05:15.270 --> 00:05:15.280 align:start position:0%
things without having distributed power
 

00:05:15.280 --> 00:05:17.390 align:start position:0%
things without having distributed power
you've<00:05:15.600><c> essentially</c><00:05:16.199><c> just</c><00:05:16.479><c> reinvented</c><00:05:17.240><c> the</c>

00:05:17.390 --> 00:05:17.400 align:start position:0%
you've essentially just reinvented the
 

00:05:17.400 --> 00:05:18.950 align:start position:0%
you've essentially just reinvented the
systems<00:05:17.800><c> that</c><00:05:17.880><c> we</c><00:05:18.000><c> were</c><00:05:18.160><c> trying</c><00:05:18.400><c> to</c><00:05:18.560><c> escape</c>

00:05:18.950 --> 00:05:18.960 align:start position:0%
systems that we were trying to escape
 

00:05:18.960 --> 00:05:20.749 align:start position:0%
systems that we were trying to escape
this<00:05:19.120><c> whole</c><00:05:19.360><c> time</c><00:05:19.960><c> those</c><00:05:20.240><c> performance</c>

00:05:20.749 --> 00:05:20.759 align:start position:0%
this whole time those performance
 

00:05:20.759 --> 00:05:24.029 align:start position:0%
this whole time those performance
systems<00:05:21.240><c> already</c><00:05:22.160><c> exist</c><00:05:23.160><c> um</c><00:05:23.400><c> otherwise</c><00:05:23.919><c> we</c>

00:05:24.029 --> 00:05:24.039 align:start position:0%
systems already exist um otherwise we
 

00:05:24.039 --> 00:05:25.550 align:start position:0%
systems already exist um otherwise we
come<00:05:24.240><c> back</c><00:05:24.360><c> to</c><00:05:24.479><c> the</c><00:05:24.639><c> reality</c><00:05:25.080><c> where</c><00:05:25.280><c> much</c><00:05:25.440><c> of</c>

00:05:25.550 --> 00:05:25.560 align:start position:0%
come back to the reality where much of
 

00:05:25.560 --> 00:05:26.870 align:start position:0%
come back to the reality where much of
the<00:05:25.680><c> world</c><00:05:25.919><c> is</c><00:05:26.080><c> centralized</c><00:05:26.720><c> and</c>

00:05:26.870 --> 00:05:26.880 align:start position:0%
the world is centralized and
 

00:05:26.880 --> 00:05:29.309 align:start position:0%
the world is centralized and
centralization<00:05:27.600><c> beget</c><00:05:28.160><c> centralization</c><00:05:29.160><c> so</c>

00:05:29.309 --> 00:05:29.319 align:start position:0%
centralization beget centralization so
 

00:05:29.319 --> 00:05:31.430 align:start position:0%
centralization beget centralization so
instead<00:05:29.680><c> in</c><00:05:29.840><c> of</c><00:05:30.000><c> that</c><00:05:30.240><c> let's</c><00:05:30.440><c> stop</c><00:05:30.759><c> yoloing</c>

00:05:31.430 --> 00:05:31.440 align:start position:0%
instead in of that let's stop yoloing
 

00:05:31.440 --> 00:05:33.189 align:start position:0%
instead in of that let's stop yoloing
protocol<00:05:31.960><c> proposals</c><00:05:32.680><c> and</c><00:05:32.880><c> treat</c>

00:05:33.189 --> 00:05:33.199 align:start position:0%
protocol proposals and treat
 

00:05:33.199 --> 00:05:35.350 align:start position:0%
protocol proposals and treat
distribution<00:05:33.680><c> of</c><00:05:33.880><c> power</c><00:05:34.680><c> globally</c><00:05:35.120><c> as</c><00:05:35.240><c> a</c>

00:05:35.350 --> 00:05:35.360 align:start position:0%
distribution of power globally as a
 

00:05:35.360 --> 00:05:37.790 align:start position:0%
distribution of power globally as a
first<00:05:35.639><c> class</c><00:05:35.919><c> goal</c><00:05:36.120><c> in</c><00:05:36.280><c> E3</c><00:05:37.240><c> okay</c><00:05:37.360><c> I'm</c><00:05:37.479><c> going</c><00:05:37.560><c> to</c>

00:05:37.790 --> 00:05:37.800 align:start position:0%
first class goal in E3 okay I'm going to
 

00:05:37.800 --> 00:05:40.029 align:start position:0%
first class goal in E3 okay I'm going to
exit<00:05:38.120><c> the</c><00:05:38.240><c> infinite</c><00:05:38.639><c> Loop</c><00:05:39.199><c> and</c><00:05:39.360><c> instead</c><00:05:39.759><c> go</c><00:05:39.880><c> to</c>

00:05:40.029 --> 00:05:40.039 align:start position:0%
exit the infinite Loop and instead go to
 

00:05:40.039 --> 00:05:41.950 align:start position:0%
exit the infinite Loop and instead go to
the<00:05:40.160><c> infinite</c><00:05:40.560><c> Garden</c><00:05:41.000><c> so</c><00:05:41.199><c> this</c><00:05:41.280><c> is</c><00:05:41.400><c> an</c><00:05:41.600><c> actual</c>

00:05:41.950 --> 00:05:41.960 align:start position:0%
the infinite Garden so this is an actual
 

00:05:41.960 --> 00:05:43.870 align:start position:0%
the infinite Garden so this is an actual
picture<00:05:42.199><c> of</c><00:05:42.360><c> my</c><00:05:42.560><c> grandmother</c><00:05:43.360><c> growing</c><00:05:43.759><c> her</c>

00:05:43.870 --> 00:05:43.880 align:start position:0%
picture of my grandmother growing her
 

00:05:43.880 --> 00:05:46.590 align:start position:0%
picture of my grandmother growing her
own<00:05:44.199><c> infinite</c><00:05:44.639><c> Garden</c><00:05:45.560><c> um</c><00:05:45.960><c> and</c><00:05:46.120><c> I</c><00:05:46.199><c> think</c><00:05:46.440><c> the</c>

00:05:46.590 --> 00:05:46.600 align:start position:0%
own infinite Garden um and I think the
 

00:05:46.600 --> 00:05:50.350 align:start position:0%
own infinite Garden um and I think the
solution<00:05:47.080><c> the</c><00:05:47.280><c> exit</c><00:05:47.759><c> to</c><00:05:48.080><c> this</c><00:05:49.000><c> this</c><00:05:49.199><c> Loop</c><00:05:50.160><c> is</c>

00:05:50.350 --> 00:05:50.360 align:start position:0%
solution the exit to this this Loop is
 

00:05:50.360 --> 00:05:52.350 align:start position:0%
solution the exit to this this Loop is
planting<00:05:50.759><c> our</c><00:05:50.919><c> own</c><00:05:51.240><c> Gardens</c><00:05:51.840><c> building</c><00:05:52.199><c> our</c>

00:05:52.350 --> 00:05:52.360 align:start position:0%
planting our own Gardens building our
 

00:05:52.360 --> 00:05:55.070 align:start position:0%
planting our own Gardens building our
own<00:05:52.680><c> systems</c><00:05:53.520><c> so</c><00:05:53.800><c> let</c><00:05:53.919><c> us</c><00:05:54.240><c> all</c><00:05:54.600><c> together</c><00:05:54.919><c> kind</c>

00:05:55.070 --> 00:05:55.080 align:start position:0%
own systems so let us all together kind
 

00:05:55.080 --> 00:05:56.909 align:start position:0%
own systems so let us all together kind
of<00:05:55.240><c> brainstorm</c><00:05:55.880><c> this</c><00:05:56.039><c> infinite</c><00:05:56.440><c> Garden</c><00:05:56.720><c> of</c>

00:05:56.909 --> 00:05:56.919 align:start position:0%
of brainstorm this infinite Garden of
 

00:05:56.919 --> 00:05:58.830 align:start position:0%
of brainstorm this infinite Garden of
power<00:05:57.199><c> distribution</c><00:05:57.919><c> and</c><00:05:58.039><c> think</c><00:05:58.240><c> about</c><00:05:58.600><c> very</c>

00:05:58.830 --> 00:05:58.840 align:start position:0%
power distribution and think about very
 

00:05:58.840 --> 00:06:01.230 align:start position:0%
power distribution and think about very
intentionally<00:05:59.639><c> carefully</c><00:06:00.520><c> and</c><00:06:00.840><c> together</c>

00:06:01.230 --> 00:06:01.240 align:start position:0%
intentionally carefully and together
 

00:06:01.240 --> 00:06:03.830 align:start position:0%
intentionally carefully and together
about<00:06:01.479><c> where</c><00:06:01.680><c> we</c><00:06:01.800><c> want</c><00:06:02.120><c> power</c><00:06:02.400><c> to</c><00:06:02.639><c> go</c><00:06:03.639><c> uh</c><00:06:03.759><c> I'm</c>

00:06:03.830 --> 00:06:03.840 align:start position:0%
about where we want power to go uh I'm
 

00:06:03.840 --> 00:06:05.790 align:start position:0%
about where we want power to go uh I'm
going<00:06:03.960><c> to</c><00:06:04.080><c> give</c><00:06:04.199><c> you</c><00:06:04.360><c> one</c><00:06:04.520><c> troll</c><00:06:05.039><c> idea</c><00:06:05.560><c> and</c><00:06:05.680><c> I'm</c>

00:06:05.790 --> 00:06:05.800 align:start position:0%
going to give you one troll idea and I'm
 

00:06:05.800 --> 00:06:07.270 align:start position:0%
going to give you one troll idea and I'm
sure<00:06:05.960><c> you're</c><00:06:06.080><c> going</c><00:06:06.199><c> to</c><00:06:06.319><c> hear</c><00:06:06.560><c> many</c><00:06:06.759><c> more</c><00:06:07.120><c> over</c>

00:06:07.270 --> 00:06:07.280 align:start position:0%
sure you're going to hear many more over
 

00:06:07.280 --> 00:06:08.909 align:start position:0%
sure you're going to hear many more over
the<00:06:07.400><c> next</c><00:06:07.680><c> few</c><00:06:07.840><c> weeks</c><00:06:08.160><c> but</c><00:06:08.280><c> this</c><00:06:08.400><c> is</c><00:06:08.560><c> going</c><00:06:08.759><c> to</c>

00:06:08.909 --> 00:06:08.919 align:start position:0%
the next few weeks but this is going to
 

00:06:08.919 --> 00:06:12.270 align:start position:0%
the next few weeks but this is going to
be<00:06:09.120><c> E3</c><00:06:09.759><c> done</c><00:06:10.240><c> my</c><00:06:10.479><c> way</c><00:06:11.440><c> uh</c><00:06:11.639><c> this</c><00:06:11.720><c> is</c><00:06:11.880><c> the</c><00:06:12.039><c> best</c>

00:06:12.270 --> 00:06:12.280 align:start position:0%
be E3 done my way uh this is the best
 

00:06:12.280 --> 00:06:14.029 align:start position:0%
be E3 done my way uh this is the best
hatching<00:06:12.680><c> GIF</c><00:06:12.960><c> I</c><00:06:13.039><c> could</c><00:06:13.199><c> find</c><00:06:13.479><c> that</c><00:06:13.599><c> was</c><00:06:13.759><c> free</c>

00:06:14.029 --> 00:06:14.039 align:start position:0%
hatching GIF I could find that was free
 

00:06:14.039 --> 00:06:16.070 align:start position:0%
hatching GIF I could find that was free
Shout<00:06:14.319><c> Out</c><00:06:14.520><c> Wikipedia</c><00:06:15.080><c> Foundation</c><00:06:15.639><c> but</c><00:06:15.800><c> it</c><00:06:15.880><c> is</c>

00:06:16.070 --> 00:06:16.080 align:start position:0%
Shout Out Wikipedia Foundation but it is
 

00:06:16.080 --> 00:06:20.430 align:start position:0%
Shout Out Wikipedia Foundation but it is
very<00:06:16.639><c> cute</c><00:06:17.680><c> um</c><00:06:18.680><c> all</c><00:06:18.800><c> right</c><00:06:19.160><c> so</c><00:06:19.720><c> in</c><00:06:19.880><c> my</c><00:06:20.080><c> opinion</c>

00:06:20.430 --> 00:06:20.440 align:start position:0%
very cute um all right so in my opinion
 

00:06:20.440 --> 00:06:23.029 align:start position:0%
very cute um all right so in my opinion
these<00:06:20.560><c> are</c><00:06:20.759><c> the</c><00:06:20.919><c> four</c><00:06:21.360><c> pillars</c><00:06:21.840><c> of</c><00:06:22.000><c> e3</c><00:06:22.720><c> as</c><00:06:22.919><c> I</c>

00:06:23.029 --> 00:06:23.039 align:start position:0%
these are the four pillars of e3 as I
 

00:06:23.039 --> 00:06:25.309 align:start position:0%
these are the four pillars of e3 as I
see<00:06:23.280><c> it</c><00:06:23.919><c> and</c><00:06:24.120><c> I</c><00:06:24.240><c> say</c><00:06:24.520><c> pillars</c><00:06:25.000><c> because</c><00:06:25.199><c> these</c>

00:06:25.309 --> 00:06:25.319 align:start position:0%
see it and I say pillars because these
 

00:06:25.319 --> 00:06:27.350 align:start position:0%
see it and I say pillars because these
are<00:06:25.520><c> actually</c><00:06:25.759><c> non-negotiable</c><00:06:26.680><c> properties</c>

00:06:27.350 --> 00:06:27.360 align:start position:0%
are actually non-negotiable properties
 

00:06:27.360 --> 00:06:29.390 align:start position:0%
are actually non-negotiable properties
if<00:06:27.560><c> either</c><00:06:27.800><c> of</c><00:06:28.039><c> these</c><00:06:28.240><c> four</c><00:06:28.599><c> things</c><00:06:29.120><c> any</c><00:06:29.280><c> of</c>

00:06:29.390 --> 00:06:29.400 align:start position:0%
if either of these four things any of
 

00:06:29.400 --> 00:06:31.550 align:start position:0%
if either of these four things any of
these<00:06:29.720><c> four</c><00:06:29.919><c> things</c><00:06:30.080><c> are</c><00:06:30.319><c> compromised</c><00:06:30.880><c> on</c><00:06:31.440><c> we</c>

00:06:31.550 --> 00:06:31.560 align:start position:0%
these four things are compromised on we
 

00:06:31.560 --> 00:06:33.189 align:start position:0%
these four things are compromised on we
will<00:06:31.800><c> fail</c><00:06:32.080><c> to</c><00:06:32.280><c> achieve</c><00:06:32.599><c> the</c><00:06:32.759><c> goals</c><00:06:33.000><c> of</c>

00:06:33.189 --> 00:06:33.199 align:start position:0%
will fail to achieve the goals of
 

00:06:33.199 --> 00:06:35.150 align:start position:0%
will fail to achieve the goals of
cryptocurrency<00:06:34.039><c> we</c><00:06:34.160><c> will</c><00:06:34.360><c> fail</c><00:06:34.639><c> to</c><00:06:34.840><c> achieve</c>

00:06:35.150 --> 00:06:35.160 align:start position:0%
cryptocurrency we will fail to achieve
 

00:06:35.160 --> 00:06:37.070 align:start position:0%
cryptocurrency we will fail to achieve
the<00:06:35.280><c> goals</c><00:06:35.479><c> of</c><00:06:35.639><c> ethereum</c><00:06:36.440><c> and</c><00:06:36.599><c> as</c><00:06:36.720><c> I</c><00:06:36.840><c> said</c><00:06:37.000><c> in</c>

00:06:37.070 --> 00:06:37.080 align:start position:0%
the goals of ethereum and as I said in
 

00:06:37.080 --> 00:06:38.909 align:start position:0%
the goals of ethereum and as I said in
the<00:06:37.199><c> beginning</c><00:06:37.440><c> of</c><00:06:37.599><c> the</c><00:06:37.759><c> talk</c><00:06:38.280><c> the</c><00:06:38.479><c> price</c><00:06:38.720><c> will</c>

00:06:38.909 --> 00:06:38.919 align:start position:0%
the beginning of the talk the price will
 

00:06:38.919 --> 00:06:41.270 align:start position:0%
the beginning of the talk the price will
obviously<00:06:39.319><c> be</c><00:06:39.520><c> zero</c><00:06:40.240><c> regardless</c><00:06:40.880><c> how</c><00:06:41.000><c> much</c>

00:06:41.270 --> 00:06:41.280 align:start position:0%
obviously be zero regardless how much
 

00:06:41.280 --> 00:06:43.629 align:start position:0%
obviously be zero regardless how much
institutional<00:06:41.919><c> interests</c><00:06:42.360><c> or</c><00:06:42.520><c> ETFs</c><00:06:43.039><c> or</c><00:06:43.199><c> Etc</c>

00:06:43.629 --> 00:06:43.639 align:start position:0%
institutional interests or ETFs or Etc
 

00:06:43.639 --> 00:06:46.270 align:start position:0%
institutional interests or ETFs or Etc
we're<00:06:43.800><c> able</c><00:06:44.000><c> to</c><00:06:44.440><c> create</c><00:06:45.440><c> um</c><00:06:45.680><c> so</c><00:06:45.880><c> these</c><00:06:46.039><c> four</c>

00:06:46.270 --> 00:06:46.280 align:start position:0%
we're able to create um so these four
 

00:06:46.280 --> 00:06:48.550 align:start position:0%
we're able to create um so these four
pillars<00:06:46.639><c> as</c><00:06:46.759><c> far</c><00:06:46.919><c> as</c><00:06:47.039><c> I</c><00:06:47.160><c> see</c><00:06:47.360><c> them</c><00:06:48.000><c> uh</c><00:06:48.280><c> number</c>

00:06:48.550 --> 00:06:48.560 align:start position:0%
pillars as far as I see them uh number
 

00:06:48.560 --> 00:06:50.430 align:start position:0%
pillars as far as I see them uh number
one<00:06:48.800><c> pillar</c><00:06:49.160><c> is</c><00:06:49.360><c> permissionless</c><00:06:50.160><c> and</c><00:06:50.280><c> I'm</c>

00:06:50.430 --> 00:06:50.440 align:start position:0%
one pillar is permissionless and I'm
 

00:06:50.440 --> 00:06:52.189 align:start position:0%
one pillar is permissionless and I'm
going<00:06:50.639><c> to</c><00:06:50.840><c> explain</c><00:06:51.280><c> each</c><00:06:51.440><c> of</c><00:06:51.639><c> these</c><00:06:51.960><c> in</c>

00:06:52.189 --> 00:06:52.199 align:start position:0%
going to explain each of these in
 

00:06:52.199 --> 00:06:54.550 align:start position:0%
going to explain each of these in
Greater<00:06:52.560><c> depth</c><00:06:53.479><c> uh</c><00:06:53.680><c> number</c><00:06:53.960><c> two</c><00:06:54.280><c> is</c>

00:06:54.550 --> 00:06:54.560 align:start position:0%
Greater depth uh number two is
 

00:06:54.560 --> 00:06:56.510 align:start position:0%
Greater depth uh number two is
distributed<00:06:55.240><c> from</c><00:06:55.400><c> a</c><00:06:55.560><c> technical</c><00:06:56.080><c> perspective</c>

00:06:56.510 --> 00:06:56.520 align:start position:0%
distributed from a technical perspective
 

00:06:56.520 --> 00:06:59.110 align:start position:0%
distributed from a technical perspective
and<00:06:56.680><c> a</c><00:06:56.840><c> computational</c><00:06:57.800><c> perspective</c><00:06:58.800><c> number</c>

00:06:59.110 --> 00:06:59.120 align:start position:0%
and a computational perspective number
 

00:06:59.120 --> 00:07:01.350 align:start position:0%
and a computational perspective number
three<00:06:59.800><c> and</c><00:06:59.960><c> this</c><00:07:00.080><c> is</c><00:07:00.360><c> the</c><00:07:00.560><c> most</c><00:07:00.879><c> important</c>

00:07:01.350 --> 00:07:01.360 align:start position:0%
three and this is the most important
 

00:07:01.360 --> 00:07:04.309 align:start position:0%
three and this is the most important
property<00:07:01.840><c> by</c><00:07:02.080><c> far</c><00:07:02.840><c> is</c><00:07:03.319><c> geoeconomic</c>

00:07:04.309 --> 00:07:04.319 align:start position:0%
property by far is geoeconomic
 

00:07:04.319 --> 00:07:05.869 align:start position:0%
property by far is geoeconomic
decentralized<00:07:05.080><c> and</c><00:07:05.160><c> we're</c><00:07:05.280><c> going</c><00:07:05.360><c> to</c><00:07:05.520><c> Define</c>

00:07:05.869 --> 00:07:05.879 align:start position:0%
decentralized and we're going to Define
 

00:07:05.879 --> 00:07:08.550 align:start position:0%
decentralized and we're going to Define
that<00:07:06.080><c> very</c><00:07:06.280><c> carefully</c><00:07:07.120><c> shortly</c><00:07:08.120><c> and</c><00:07:08.280><c> number</c>

00:07:08.550 --> 00:07:08.560 align:start position:0%
that very carefully shortly and number
 

00:07:08.560 --> 00:07:12.510 align:start position:0%
that very carefully shortly and number
four<00:07:09.039><c> is</c><00:07:09.319><c> neutral</c><00:07:09.720><c> Builder</c><00:07:10.479><c> efficient</c><00:07:11.479><c> um</c><00:07:11.879><c> so</c>

00:07:12.510 --> 00:07:12.520 align:start position:0%
four is neutral Builder efficient um so
 

00:07:12.520 --> 00:07:14.230 align:start position:0%
four is neutral Builder efficient um so
what<00:07:12.639><c> are</c><00:07:12.840><c> these</c><00:07:13.039><c> pillars</c><00:07:13.440><c> let's</c><00:07:13.639><c> get</c><00:07:13.800><c> into</c><00:07:14.039><c> it</c>

00:07:14.230 --> 00:07:14.240 align:start position:0%
what are these pillars let's get into it
 

00:07:14.240 --> 00:07:15.950 align:start position:0%
what are these pillars let's get into it
well<00:07:14.400><c> the</c><00:07:14.520><c> first</c><00:07:14.720><c> one</c><00:07:14.879><c> is</c><00:07:15.039><c> permissionless</c>

00:07:15.950 --> 00:07:15.960 align:start position:0%
well the first one is permissionless
 

00:07:15.960 --> 00:07:17.430 align:start position:0%
well the first one is permissionless
this<00:07:16.039><c> is</c><00:07:16.240><c> something</c><00:07:16.520><c> we</c><00:07:16.639><c> should</c><00:07:16.840><c> all</c><00:07:17.080><c> have</c><00:07:17.319><c> at</c>

00:07:17.430 --> 00:07:17.440 align:start position:0%
this is something we should all have at
 

00:07:17.440 --> 00:07:19.510 align:start position:0%
this is something we should all have at
least<00:07:17.599><c> a</c><00:07:17.720><c> little</c><00:07:17.919><c> bit</c><00:07:18.039><c> of</c><00:07:18.599><c> context</c><00:07:19.000><c> on</c><00:07:19.160><c> in</c><00:07:19.319><c> this</c>

00:07:19.510 --> 00:07:19.520 align:start position:0%
least a little bit of context on in this
 

00:07:19.520 --> 00:07:23.430 align:start position:0%
least a little bit of context on in this
space<00:07:20.400><c> but</c><00:07:20.800><c> specifically</c><00:07:21.800><c> um</c><00:07:22.759><c> I</c><00:07:22.919><c> slice</c><00:07:23.280><c> it</c>

00:07:23.430 --> 00:07:23.440 align:start position:0%
space but specifically um I slice it
 

00:07:23.440 --> 00:07:25.749 align:start position:0%
space but specifically um I slice it
with<00:07:23.720><c> thinking</c><00:07:24.000><c> about</c><00:07:24.240><c> me</c><00:07:24.800><c> and</c><00:07:24.960><c> how</c><00:07:25.120><c> me</c><00:07:25.599><c> is</c>

00:07:25.749 --> 00:07:25.759 align:start position:0%
with thinking about me and how me is
 

00:07:25.759 --> 00:07:27.110 align:start position:0%
with thinking about me and how me is
expressed<00:07:26.120><c> in</c><00:07:26.199><c> the</c><00:07:26.319><c> protocol</c><00:07:26.759><c> because</c><00:07:26.960><c> that's</c>

00:07:27.110 --> 00:07:27.120 align:start position:0%
expressed in the protocol because that's
 

00:07:27.120 --> 00:07:29.589 align:start position:0%
expressed in the protocol because that's
what<00:07:27.319><c> I</c><00:07:27.479><c> work</c><00:07:27.720><c> on</c><00:07:28.360><c> so</c><00:07:28.560><c> for</c><00:07:28.720><c> me</c><00:07:28.919><c> what</c><00:07:29.039><c> permission</c>

00:07:29.589 --> 00:07:29.599 align:start position:0%
what I work on so for me what permission
 

00:07:29.599 --> 00:07:31.909 align:start position:0%
what I work on so for me what permission
lessness<00:07:29.919><c> means</c><00:07:30.440><c> is</c><00:07:30.599><c> that</c><00:07:30.800><c> any</c><00:07:31.080><c> actor</c><00:07:31.520><c> is</c><00:07:31.680><c> able</c>

00:07:31.909 --> 00:07:31.919 align:start position:0%
lessness means is that any actor is able
 

00:07:31.919 --> 00:07:33.790 align:start position:0%
lessness means is that any actor is able
to<00:07:32.160><c> express</c><00:07:32.599><c> their</c><00:07:32.840><c> value</c><00:07:33.199><c> or</c><00:07:33.400><c> preference</c>

00:07:33.790 --> 00:07:33.800 align:start position:0%
to express their value or preference
 

00:07:33.800 --> 00:07:36.390 align:start position:0%
to express their value or preference
into<00:07:34.039><c> a</c><00:07:34.199><c> block</c><00:07:35.080><c> at</c><00:07:35.240><c> any</c><00:07:35.520><c> point</c><00:07:35.800><c> in</c><00:07:35.960><c> the</c><00:07:36.080><c> block</c>

00:07:36.390 --> 00:07:36.400 align:start position:0%
into a block at any point in the block
 

00:07:36.400 --> 00:07:39.510 align:start position:0%
into a block at any point in the block
construction<00:07:37.240><c> process</c><00:07:38.240><c> um</c><00:07:38.479><c> and</c><00:07:38.720><c> that</c><00:07:39.080><c> value</c>

00:07:39.510 --> 00:07:39.520 align:start position:0%
construction process um and that value
 

00:07:39.520 --> 00:07:41.550 align:start position:0%
construction process um and that value
is<00:07:39.680><c> able</c><00:07:39.919><c> to</c><00:07:40.120><c> percolate</c><00:07:40.639><c> to</c><00:07:40.800><c> be</c><00:07:41.000><c> expressed</c>

00:07:41.550 --> 00:07:41.560 align:start position:0%
is able to percolate to be expressed
 

00:07:41.560 --> 00:07:43.950 align:start position:0%
is able to percolate to be expressed
through<00:07:41.759><c> the</c><00:07:42.000><c> process</c><00:07:42.360><c> and</c><00:07:42.520><c> into</c><00:07:42.759><c> the</c><00:07:42.960><c> system</c>

00:07:43.950 --> 00:07:43.960 align:start position:0%
through the process and into the system
 

00:07:43.960 --> 00:07:45.309 align:start position:0%
through the process and into the system
uh<00:07:44.080><c> you</c><00:07:44.240><c> might</c><00:07:44.400><c> note</c><00:07:44.680><c> that</c><00:07:44.800><c> this</c><00:07:44.919><c> is</c><00:07:45.080><c> actually</c>

00:07:45.309 --> 00:07:45.319 align:start position:0%
uh you might note that this is actually
 

00:07:45.319 --> 00:07:46.830 align:start position:0%
uh you might note that this is actually
the<00:07:45.479><c> same</c><00:07:45.759><c> as</c><00:07:45.960><c> many</c><00:07:46.240><c> definitions</c><00:07:46.680><c> of</c>

00:07:46.830 --> 00:07:46.840 align:start position:0%
the same as many definitions of
 

00:07:46.840 --> 00:07:48.510 align:start position:0%
the same as many definitions of
censorship<00:07:47.360><c> resistance</c><00:07:47.919><c> essentially</c><00:07:48.280><c> if</c><00:07:48.400><c> you</c>

00:07:48.510 --> 00:07:48.520 align:start position:0%
censorship resistance essentially if you
 

00:07:48.520 --> 00:07:50.990 align:start position:0%
censorship resistance essentially if you
pay<00:07:48.680><c> a</c><00:07:48.800><c> fee</c><00:07:49.039><c> you</c><00:07:49.159><c> get</c><00:07:49.319><c> in</c><00:07:49.520><c> is</c><00:07:49.680><c> one</c><00:07:50.000><c> slicing</c>

00:07:50.990 --> 00:07:51.000 align:start position:0%
pay a fee you get in is one slicing
 

00:07:51.000 --> 00:07:52.070 align:start position:0%
pay a fee you get in is one slicing
although<00:07:51.240><c> there's</c><00:07:51.400><c> a</c><00:07:51.520><c> lot</c><00:07:51.639><c> of</c><00:07:51.759><c> kind</c><00:07:51.919><c> of</c>

00:07:52.070 --> 00:07:52.080 align:start position:0%
although there's a lot of kind of
 

00:07:52.080 --> 00:07:54.830 align:start position:0%
although there's a lot of kind of
details<00:07:52.919><c> there</c><00:07:53.919><c> um</c><00:07:54.240><c> okay</c><00:07:54.440><c> other</c><00:07:54.639><c> than</c>

00:07:54.830 --> 00:07:54.840 align:start position:0%
details there um okay other than
 

00:07:54.840 --> 00:07:56.950 align:start position:0%
details there um okay other than
permission<00:07:55.199><c> lists</c><00:07:55.520><c> we</c><00:07:55.639><c> must</c><00:07:55.840><c> also</c><00:07:56.120><c> make</c><00:07:56.319><c> E3</c>

00:07:56.950 --> 00:07:56.960 align:start position:0%
permission lists we must also make E3
 

00:07:56.960 --> 00:07:58.909 align:start position:0%
permission lists we must also make E3
distributed<00:07:57.879><c> so</c><00:07:58.080><c> this</c><00:07:58.199><c> one</c><00:07:58.400><c> is</c><00:07:58.639><c> pretty</c>

00:07:58.909 --> 00:07:58.919 align:start position:0%
distributed so this one is pretty
 

00:07:58.919 --> 00:08:01.110 align:start position:0%
distributed so this one is pretty
obvious<00:07:59.240><c> to</c><00:07:59.840><c> this</c><00:08:00.000><c> means</c><00:08:00.680><c> taking</c>

00:08:01.110 --> 00:08:01.120 align:start position:0%
obvious to this means taking
 

00:08:01.120 --> 00:08:03.309 align:start position:0%
obvious to this means taking
computations<00:08:01.879><c> that</c><00:08:02.080><c> right</c><00:08:02.240><c> now</c><00:08:02.479><c> require</c><00:08:03.000><c> one</c>

00:08:03.309 --> 00:08:03.319 align:start position:0%
computations that right now require one
 

00:08:03.319 --> 00:08:05.710 align:start position:0%
computations that right now require one
big<00:08:03.560><c> computer</c><00:08:04.080><c> or</c><00:08:04.280><c> one</c><00:08:04.520><c> big</c><00:08:04.759><c> server</c><00:08:05.520><c> and</c>

00:08:05.710 --> 00:08:05.720 align:start position:0%
big computer or one big server and
 

00:08:05.720 --> 00:08:07.629 align:start position:0%
big computer or one big server and
breaking<00:08:06.120><c> them</c><00:08:06.360><c> down</c><00:08:06.599><c> into</c><00:08:06.879><c> small</c><00:08:07.159><c> pieces</c>

00:08:07.629 --> 00:08:07.639 align:start position:0%
breaking them down into small pieces
 

00:08:07.639 --> 00:08:09.629 align:start position:0%
breaking them down into small pieces
that<00:08:07.759><c> we</c><00:08:07.879><c> can</c><00:08:08.039><c> then</c><00:08:08.240><c> distribute</c><00:08:09.199><c> kind</c><00:08:09.360><c> of</c><00:08:09.520><c> all</c>

00:08:09.629 --> 00:08:09.639 align:start position:0%
that we can then distribute kind of all
 

00:08:09.639 --> 00:08:12.149 align:start position:0%
that we can then distribute kind of all
over<00:08:09.840><c> the</c><00:08:10.000><c> network</c><00:08:10.360><c> and</c><00:08:10.560><c> all</c><00:08:10.759><c> over</c><00:08:11.000><c> the</c><00:08:11.159><c> world</c>

00:08:12.149 --> 00:08:12.159 align:start position:0%
over the network and all over the world
 

00:08:12.159 --> 00:08:13.749 align:start position:0%
over the network and all over the world
um<00:08:12.440><c> without</c><00:08:12.720><c> doing</c><00:08:13.039><c> this</c><00:08:13.199><c> it's</c><00:08:13.400><c> hard</c><00:08:13.560><c> to</c>

00:08:13.749 --> 00:08:13.759 align:start position:0%
um without doing this it's hard to
 

00:08:13.759 --> 00:08:15.670 align:start position:0%
um without doing this it's hard to
imagine<00:08:14.240><c> how</c><00:08:14.319><c> to</c><00:08:14.520><c> decentralize</c><00:08:15.319><c> if</c><00:08:15.479><c> you</c>

00:08:15.670 --> 00:08:15.680 align:start position:0%
imagine how to decentralize if you
 

00:08:15.680 --> 00:08:18.390 align:start position:0%
imagine how to decentralize if you
require<00:08:16.280><c> a</c><00:08:16.440><c> huge</c><00:08:16.800><c> computer</c><00:08:17.240><c> to</c><00:08:17.400><c> do</c><00:08:17.639><c> everything</c>

00:08:18.390 --> 00:08:18.400 align:start position:0%
require a huge computer to do everything
 

00:08:18.400 --> 00:08:20.309 align:start position:0%
require a huge computer to do everything
in<00:08:18.560><c> one</c><00:08:18.800><c> central</c><00:08:19.280><c> place</c><00:08:19.599><c> that's</c><00:08:19.840><c> inherently</c>

00:08:20.309 --> 00:08:20.319 align:start position:0%
in one central place that's inherently
 

00:08:20.319 --> 00:08:21.629 align:start position:0%
in one central place that's inherently
not

00:08:21.629 --> 00:08:21.639 align:start position:0%
not
 

00:08:21.639 --> 00:08:24.070 align:start position:0%
not
decentralized<00:08:22.639><c> um</c><00:08:22.840><c> all</c><00:08:22.960><c> right</c><00:08:23.479><c> this</c><00:08:23.680><c> property</c>

00:08:24.070 --> 00:08:24.080 align:start position:0%
decentralized um all right this property
 

00:08:24.080 --> 00:08:25.430 align:start position:0%
decentralized um all right this property
as<00:08:24.199><c> I</c><00:08:24.319><c> said</c><00:08:24.520><c> is</c><00:08:24.639><c> the</c><00:08:24.800><c> most</c><00:08:25.000><c> important</c>

00:08:25.430 --> 00:08:25.440 align:start position:0%
as I said is the most important
 

00:08:25.440 --> 00:08:27.390 align:start position:0%
as I said is the most important
geoeconomic<00:08:26.240><c> decentralization</c><00:08:27.039><c> I'll</c><00:08:27.159><c> spend</c>

00:08:27.390 --> 00:08:27.400 align:start position:0%
geoeconomic decentralization I'll spend
 

00:08:27.400 --> 00:08:30.149 align:start position:0%
geoeconomic decentralization I'll spend
a<00:08:27.560><c> little</c><00:08:27.759><c> longer</c><00:08:28.159><c> on</c><00:08:28.319><c> it</c><00:08:29.319><c> um</c><00:08:29.720><c> so</c><00:08:29.960><c> this</c>

00:08:30.149 --> 00:08:30.159 align:start position:0%
a little longer on it um so this
 

00:08:30.159 --> 00:08:32.110 align:start position:0%
a little longer on it um so this
specifically<00:08:30.840><c> is</c><00:08:30.960><c> a</c><00:08:31.120><c> is</c><00:08:31.240><c> a</c><00:08:31.400><c> very</c><00:08:31.680><c> specific</c>

00:08:32.110 --> 00:08:32.120 align:start position:0%
specifically is a is a very specific
 

00:08:32.120 --> 00:08:34.790 align:start position:0%
specifically is a is a very specific
notion<00:08:32.479><c> of</c><00:08:32.640><c> geoeconomic</c><00:08:33.800><c> decentralization</c>

00:08:34.790 --> 00:08:34.800 align:start position:0%
notion of geoeconomic decentralization
 

00:08:34.800 --> 00:08:37.149 align:start position:0%
notion of geoeconomic decentralization
saying<00:08:35.279><c> that</c><00:08:35.560><c> collocation</c><00:08:36.279><c> in</c><00:08:36.440><c> the</c><00:08:36.599><c> protocol</c>

00:08:37.149 --> 00:08:37.159 align:start position:0%
saying that collocation in the protocol
 

00:08:37.159 --> 00:08:39.949 align:start position:0%
saying that collocation in the protocol
must<00:08:37.560><c> yield</c><00:08:38.000><c> minimal</c><00:08:38.440><c> additional</c><00:08:38.959><c> profit</c><00:08:39.719><c> so</c>

00:08:39.949 --> 00:08:39.959 align:start position:0%
must yield minimal additional profit so
 

00:08:39.959 --> 00:08:42.070 align:start position:0%
must yield minimal additional profit so
this<00:08:40.080><c> is</c><00:08:40.360><c> not</c><00:08:40.680><c> saying</c><00:08:41.200><c> hey</c><00:08:41.360><c> we</c><00:08:41.479><c> have</c><00:08:41.599><c> a</c><00:08:41.680><c> note</c><00:08:41.919><c> in</c>

00:08:42.070 --> 00:08:42.080 align:start position:0%
this is not saying hey we have a note in
 

00:08:42.080 --> 00:08:44.110 align:start position:0%
this is not saying hey we have a note in
France<00:08:42.360><c> and</c><00:08:42.479><c> a</c><00:08:42.560><c> note</c><00:08:42.800><c> in</c><00:08:42.880><c> the</c><00:08:43.000><c> US</c><00:08:43.680><c> it's</c><00:08:43.880><c> not</c>

00:08:44.110 --> 00:08:44.120 align:start position:0%
France and a note in the US it's not
 

00:08:44.120 --> 00:08:46.710 align:start position:0%
France and a note in the US it's not
saying<00:08:44.560><c> hey</c><00:08:44.720><c> we're</c><00:08:44.839><c> on</c><00:08:45.040><c> three</c><00:08:45.320><c> of</c><00:08:45.640><c> these</c><00:08:45.880><c> AWS</c>

00:08:46.710 --> 00:08:46.720 align:start position:0%
saying hey we're on three of these AWS
 

00:08:46.720 --> 00:08:48.509 align:start position:0%
saying hey we're on three of these AWS
topologies<00:08:47.320><c> of</c><00:08:47.560><c> power</c><00:08:47.800><c> we're</c><00:08:48.000><c> on</c><00:08:48.160><c> three</c><00:08:48.399><c> of</c>

00:08:48.509 --> 00:08:48.519 align:start position:0%
topologies of power we're on three of
 

00:08:48.519 --> 00:08:50.910 align:start position:0%
topologies of power we're on three of
these<00:08:48.680><c> links</c><00:08:49.080><c> or</c><00:08:49.440><c> five</c><00:08:50.399><c> that</c><00:08:50.560><c> is</c><00:08:50.720><c> not</c>

00:08:50.910 --> 00:08:50.920 align:start position:0%
these links or five that is not
 

00:08:50.920 --> 00:08:53.710 align:start position:0%
these links or five that is not
geoeconomic<00:08:51.959><c> decentralization</c><00:08:52.959><c> geoeconomic</c>

00:08:53.710 --> 00:08:53.720 align:start position:0%
geoeconomic decentralization geoeconomic
 

00:08:53.720 --> 00:08:55.350 align:start position:0%
geoeconomic decentralization geoeconomic
decentralization<00:08:54.720><c> is</c><00:08:54.839><c> saying</c><00:08:55.080><c> that</c><00:08:55.200><c> there's</c>

00:08:55.350 --> 00:08:55.360 align:start position:0%
decentralization is saying that there's
 

00:08:55.360 --> 00:08:57.990 align:start position:0%
decentralization is saying that there's
a<00:08:55.519><c> Level</c><00:08:55.880><c> Playing</c><00:08:56.200><c> Field</c><00:08:56.600><c> in</c><00:08:56.720><c> your</c><00:08:57.000><c> system</c><00:08:57.720><c> for</c>

00:08:57.990 --> 00:08:58.000 align:start position:0%
a Level Playing Field in your system for
 

00:08:58.000 --> 00:09:00.230 align:start position:0%
a Level Playing Field in your system for
people<00:08:58.240><c> who</c><00:08:58.399><c> are</c><00:08:58.680><c> participating</c><00:08:59.560><c> outside</c><00:09:00.040><c> of</c>

00:09:00.230 --> 00:09:00.240 align:start position:0%
people who are participating outside of
 

00:09:00.240 --> 00:09:02.030 align:start position:0%
people who are participating outside of
those<00:09:00.440><c> existing</c><00:09:00.839><c> corridors</c><00:09:01.240><c> of</c><00:09:01.440><c> power</c>

00:09:02.030 --> 00:09:02.040 align:start position:0%
those existing corridors of power
 

00:09:02.040 --> 00:09:04.069 align:start position:0%
those existing corridors of power
outside<00:09:02.480><c> of</c><00:09:02.640><c> those</c><00:09:02.839><c> existing</c><00:09:03.200><c> latency</c><00:09:03.640><c> links</c>

00:09:04.069 --> 00:09:04.079 align:start position:0%
outside of those existing latency links
 

00:09:04.079 --> 00:09:05.470 align:start position:0%
outside of those existing latency links
outside<00:09:04.480><c> of</c><00:09:04.640><c> that</c><00:09:04.800><c> game</c><00:09:05.000><c> theory</c><00:09:05.320><c> we've</c>

00:09:05.470 --> 00:09:05.480 align:start position:0%
outside of that game theory we've
 

00:09:05.480 --> 00:09:08.110 align:start position:0%
outside of that game theory we've
created<00:09:05.800><c> with</c><00:09:06.040><c> AWS</c><00:09:07.040><c> and</c><00:09:07.240><c> those</c><00:09:07.560><c> people</c><00:09:07.880><c> must</c>

00:09:08.110 --> 00:09:08.120 align:start position:0%
created with AWS and those people must
 

00:09:08.120 --> 00:09:10.990 align:start position:0%
created with AWS and those people must
be<00:09:08.320><c> able</c><00:09:08.560><c> to</c><00:09:08.920><c> participate</c><00:09:09.920><c> as</c><00:09:10.200><c> profitably</c><00:09:10.800><c> and</c>

00:09:10.990 --> 00:09:11.000 align:start position:0%
be able to participate as profitably and
 

00:09:11.000 --> 00:09:12.870 align:start position:0%
be able to participate as profitably and
as<00:09:11.160><c> meaningfully</c><00:09:12.120><c> as</c><00:09:12.279><c> the</c><00:09:12.399><c> people</c><00:09:12.640><c> who</c><00:09:12.760><c> are</c>

00:09:12.870 --> 00:09:12.880 align:start position:0%
as meaningfully as the people who are
 

00:09:12.880 --> 00:09:14.670 align:start position:0%
as meaningfully as the people who are
sitting<00:09:13.120><c> in</c><00:09:13.279><c> New</c><00:09:13.440><c> York</c><00:09:14.079><c> as</c><00:09:14.240><c> the</c><00:09:14.360><c> people</c><00:09:14.560><c> who</c>

00:09:14.670 --> 00:09:14.680 align:start position:0%
sitting in New York as the people who
 

00:09:14.680 --> 00:09:16.430 align:start position:0%
sitting in New York as the people who
are<00:09:14.800><c> sitting</c><00:09:15.079><c> in</c><00:09:15.200><c> Japan</c><00:09:15.720><c> collocated</c><00:09:16.279><c> with</c>

00:09:16.430 --> 00:09:16.440 align:start position:0%
are sitting in Japan collocated with
 

00:09:16.440 --> 00:09:19.310 align:start position:0%
are sitting in Japan collocated with
binance<00:09:17.040><c> and</c><00:09:17.399><c> Etc</c><00:09:18.399><c> if</c><00:09:18.519><c> you</c><00:09:18.720><c> reduce</c><00:09:19.160><c> the</c>

00:09:19.310 --> 00:09:19.320 align:start position:0%
binance and Etc if you reduce the
 

00:09:19.320 --> 00:09:21.230 align:start position:0%
binance and Etc if you reduce the
participation<00:09:20.160><c> of</c><00:09:20.399><c> those</c><00:09:20.600><c> systems</c><00:09:20.959><c> in</c><00:09:21.079><c> the</c>

00:09:21.230 --> 00:09:21.240 align:start position:0%
participation of those systems in the
 

00:09:21.240 --> 00:09:23.630 align:start position:0%
participation of those systems in the
network<00:09:21.920><c> in</c><00:09:22.079><c> the</c><00:09:22.279><c> iterated</c><00:09:22.760><c> game</c><00:09:23.079><c> as</c><00:09:23.240><c> time</c>

00:09:23.630 --> 00:09:23.640 align:start position:0%
network in the iterated game as time
 

00:09:23.640 --> 00:09:25.750 align:start position:0%
network in the iterated game as time
passes<00:09:24.000><c> your</c><00:09:24.200><c> network</c><00:09:24.640><c> collapses</c><00:09:25.360><c> to</c><00:09:25.519><c> these</c>

00:09:25.750 --> 00:09:25.760 align:start position:0%
passes your network collapses to these
 

00:09:25.760 --> 00:09:28.310 align:start position:0%
passes your network collapses to these
Central<00:09:26.200><c> points</c><00:09:26.640><c> of</c><00:09:26.800><c> geography</c><00:09:27.320><c> and</c><00:09:27.519><c> power</c>

00:09:28.310 --> 00:09:28.320 align:start position:0%
Central points of geography and power
 

00:09:28.320 --> 00:09:29.949 align:start position:0%
Central points of geography and power
and<00:09:28.440><c> then</c><00:09:28.519><c> you</c><00:09:28.640><c> lose</c><00:09:28.880><c> any</c><00:09:29.040><c> hope</c><00:09:29.480><c> censorship</c>

00:09:29.949 --> 00:09:29.959 align:start position:0%
and then you lose any hope censorship
 

00:09:29.959 --> 00:09:31.389 align:start position:0%
and then you lose any hope censorship
resistance<00:09:30.360><c> or</c><00:09:30.519><c> any</c><00:09:30.680><c> of</c><00:09:30.800><c> the</c><00:09:30.959><c> other</c>

00:09:31.389 --> 00:09:31.399 align:start position:0%
resistance or any of the other
 

00:09:31.399 --> 00:09:33.910 align:start position:0%
resistance or any of the other
properties<00:09:31.800><c> you</c><00:09:32.320><c> want</c><00:09:33.320><c> all</c><00:09:33.440><c> right</c><00:09:33.560><c> so</c><00:09:33.760><c> those</c>

00:09:33.910 --> 00:09:33.920 align:start position:0%
properties you want all right so those
 

00:09:33.920 --> 00:09:35.350 align:start position:0%
properties you want all right so those
properties<00:09:34.320><c> sound</c><00:09:34.600><c> great</c><00:09:34.839><c> can</c><00:09:34.959><c> we</c><00:09:35.120><c> actually</c>

00:09:35.350 --> 00:09:35.360 align:start position:0%
properties sound great can we actually
 

00:09:35.360 --> 00:09:37.069 align:start position:0%
properties sound great can we actually
build<00:09:35.680><c> that</c><00:09:35.920><c> well</c><00:09:36.079><c> this</c><00:09:36.160><c> is</c><00:09:36.320><c> my</c><00:09:36.480><c> troll</c><00:09:36.839><c> road</c>

00:09:37.069 --> 00:09:37.079 align:start position:0%
build that well this is my troll road
 

00:09:37.079 --> 00:09:39.790 align:start position:0%
build that well this is my troll road
map<00:09:37.560><c> to</c><00:09:37.920><c> uh</c><00:09:38.079><c> get</c><00:09:38.360><c> there</c><00:09:39.120><c> uh</c><00:09:39.240><c> it's</c><00:09:39.360><c> a</c><00:09:39.440><c> little</c><00:09:39.640><c> bit</c>

00:09:39.790 --> 00:09:39.800 align:start position:0%
map to uh get there uh it's a little bit
 

00:09:39.800 --> 00:09:41.430 align:start position:0%
map to uh get there uh it's a little bit
oversimplified<00:09:40.720><c> but</c><00:09:40.880><c> hopefully</c><00:09:41.240><c> it</c>

00:09:41.430 --> 00:09:41.440 align:start position:0%
oversimplified but hopefully it
 

00:09:41.440 --> 00:09:44.030 align:start position:0%
oversimplified but hopefully it
communicates<00:09:42.000><c> the</c><00:09:42.160><c> point</c><00:09:42.959><c> so</c><00:09:43.240><c> I</c><00:09:43.360><c> believe</c>

00:09:44.030 --> 00:09:44.040 align:start position:0%
communicates the point so I believe
 

00:09:44.040 --> 00:09:45.790 align:start position:0%
communicates the point so I believe
right<00:09:44.240><c> now</c><00:09:44.600><c> standing</c><00:09:44.959><c> from</c><00:09:45.160><c> today</c><00:09:45.519><c> there</c><00:09:45.640><c> are</c>

00:09:45.790 --> 00:09:45.800 align:start position:0%
right now standing from today there are
 

00:09:45.800 --> 00:09:48.190 align:start position:0%
right now standing from today there are
two<00:09:46.240><c> things</c><00:09:46.680><c> or</c><00:09:46.920><c> or</c><00:09:47.279><c> or</c><00:09:47.480><c> kind</c><00:09:47.600><c> of</c><00:09:47.720><c> two</c><00:09:47.920><c> broad</c>

00:09:48.190 --> 00:09:48.200 align:start position:0%
two things or or or kind of two broad
 

00:09:48.200 --> 00:09:50.630 align:start position:0%
two things or or or kind of two broad
pushes<00:09:48.560><c> I</c><00:09:48.680><c> want</c><00:09:48.760><c> to</c><00:09:48.920><c> work</c><00:09:49.120><c> on</c><00:09:49.880><c> the</c><00:09:50.000><c> first</c><00:09:50.240><c> is</c><00:09:50.360><c> to</c>

00:09:50.630 --> 00:09:50.640 align:start position:0%
pushes I want to work on the first is to
 

00:09:50.640 --> 00:09:53.790 align:start position:0%
pushes I want to work on the first is to
teifi<00:09:51.640><c> everything</c><00:09:52.600><c> why</c><00:09:52.839><c> teifi</c><00:09:53.600><c> well</c><00:09:53.680><c> we're</c>

00:09:53.790 --> 00:09:53.800 align:start position:0%
teifi everything why teifi well we're
 

00:09:53.800 --> 00:09:55.670 align:start position:0%
teifi everything why teifi well we're
going<00:09:53.880><c> to</c><00:09:54.040><c> get</c><00:09:54.160><c> more</c><00:09:54.320><c> into</c><00:09:54.519><c> that</c><00:09:54.640><c> in</c><00:09:54.760><c> a</c><00:09:54.920><c> second</c>

00:09:55.670 --> 00:09:55.680 align:start position:0%
going to get more into that in a second
 

00:09:55.680 --> 00:09:57.949 align:start position:0%
going to get more into that in a second
but<00:09:55.839><c> basically</c><00:09:56.279><c> tees</c><00:09:57.120><c> allow</c><00:09:57.440><c> us</c><00:09:57.640><c> to</c>

00:09:57.949 --> 00:09:57.959 align:start position:0%
but basically tees allow us to
 

00:09:57.959 --> 00:10:00.190 align:start position:0%
but basically tees allow us to
distribute<00:09:58.760><c> the</c><00:09:58.880><c> computation</c><00:09:59.680><c> so</c><00:09:59.880><c> remember</c>

00:10:00.190 --> 00:10:00.200 align:start position:0%
distribute the computation so remember
 

00:10:00.200 --> 00:10:02.470 align:start position:0%
distribute the computation so remember
when<00:10:00.320><c> we</c><00:10:00.480><c> said</c><00:10:00.720><c> before</c><00:10:01.040><c> the</c><00:10:01.200><c> one</c><00:10:01.480><c> big</c><00:10:01.720><c> computer</c>

00:10:02.470 --> 00:10:02.480 align:start position:0%
when we said before the one big computer
 

00:10:02.480 --> 00:10:05.110 align:start position:0%
when we said before the one big computer
becomes<00:10:02.839><c> many</c><00:10:03.120><c> small</c><00:10:03.399><c> computers</c><00:10:04.279><c> tees</c><00:10:05.000><c> give</c>

00:10:05.110 --> 00:10:05.120 align:start position:0%
becomes many small computers tees give
 

00:10:05.120 --> 00:10:07.790 align:start position:0%
becomes many small computers tees give
you<00:10:05.279><c> the</c><00:10:05.440><c> trust</c><00:10:05.800><c> apis</c><00:10:06.480><c> to</c><00:10:06.640><c> make</c><00:10:06.839><c> that</c><00:10:07.040><c> possible</c>

00:10:07.790 --> 00:10:07.800 align:start position:0%
you the trust apis to make that possible
 

00:10:07.800 --> 00:10:09.750 align:start position:0%
you the trust apis to make that possible
with<00:10:08.040><c> untrusted</c><00:10:08.720><c> parties</c><00:10:09.120><c> operating</c><00:10:09.560><c> these</c>

00:10:09.750 --> 00:10:09.760 align:start position:0%
with untrusted parties operating these
 

00:10:09.760 --> 00:10:12.030 align:start position:0%
with untrusted parties operating these
small<00:10:10.040><c> computers</c><00:10:11.000><c> and</c><00:10:11.160><c> once</c><00:10:11.360><c> you</c><00:10:11.560><c> have</c><00:10:11.760><c> this</c>

00:10:12.030 --> 00:10:12.040 align:start position:0%
small computers and once you have this
 

00:10:12.040 --> 00:10:13.590 align:start position:0%
small computers and once you have this
distribution<00:10:13.040><c> you</c><00:10:13.160><c> don't</c><00:10:13.399><c> have</c>

00:10:13.590 --> 00:10:13.600 align:start position:0%
distribution you don't have
 

00:10:13.600 --> 00:10:15.829 align:start position:0%
distribution you don't have
decentralization<00:10:14.560><c> yet</c><00:10:15.120><c> but</c><00:10:15.279><c> at</c><00:10:15.440><c> least</c><00:10:15.600><c> you're</c>

00:10:15.829 --> 00:10:15.839 align:start position:0%
decentralization yet but at least you're
 

00:10:15.839 --> 00:10:17.949 align:start position:0%
decentralization yet but at least you're
able<00:10:16.160><c> to</c><00:10:16.360><c> start</c><00:10:16.720><c> pushing</c><00:10:17.440><c> pushing</c><00:10:17.800><c> this</c>

00:10:17.949 --> 00:10:17.959 align:start position:0%
able to start pushing pushing this
 

00:10:17.959 --> 00:10:19.910 align:start position:0%
able to start pushing pushing this
infrastructure<00:10:18.519><c> and</c><00:10:18.680><c> pushing</c><00:10:18.959><c> the</c><00:10:19.160><c> power</c><00:10:19.760><c> to</c>

00:10:19.910 --> 00:10:19.920 align:start position:0%
infrastructure and pushing the power to
 

00:10:19.920 --> 00:10:21.870 align:start position:0%
infrastructure and pushing the power to
the<00:10:20.079><c> edges</c><00:10:20.360><c> of</c><00:10:20.480><c> your</c><00:10:20.640><c> network</c><00:10:21.079><c> and</c><00:10:21.240><c> outside</c><00:10:21.640><c> of</c>

00:10:21.870 --> 00:10:21.880 align:start position:0%
the edges of your network and outside of
 

00:10:21.880 --> 00:10:24.230 align:start position:0%
the edges of your network and outside of
those<00:10:22.120><c> lines</c><00:10:22.440><c> of</c><00:10:22.600><c> AWS</c><00:10:23.279><c> those</c><00:10:23.519><c> lines</c><00:10:23.760><c> of</c><00:10:23.959><c> power</c>

00:10:24.230 --> 00:10:24.240 align:start position:0%
those lines of AWS those lines of power
 

00:10:24.240 --> 00:10:27.230 align:start position:0%
those lines of AWS those lines of power
that<00:10:24.360><c> we</c><00:10:24.480><c> have</c><00:10:24.760><c> today</c><00:10:25.760><c> so</c><00:10:26.079><c> after</c><00:10:26.320><c> we</c><00:10:26.480><c> teifi</c>

00:10:27.230 --> 00:10:27.240 align:start position:0%
that we have today so after we teifi
 

00:10:27.240 --> 00:10:29.430 align:start position:0%
that we have today so after we teifi
everything<00:10:27.760><c> we</c><00:10:27.920><c> have</c><00:10:28.000><c> to</c><00:10:28.240><c> start</c><00:10:28.600><c> in</c><00:10:28.720><c> a</c><00:10:28.880><c> cycle</c>

00:10:29.430 --> 00:10:29.440 align:start position:0%
everything we have to start in a cycle
 

00:10:29.440 --> 00:10:31.790 align:start position:0%
everything we have to start in a cycle
doing<00:10:29.720><c> two</c><00:10:29.959><c> things</c><00:10:30.680><c> the</c><00:10:30.839><c> first</c><00:10:31.120><c> is</c><00:10:31.399><c> pushing</c>

00:10:31.790 --> 00:10:31.800 align:start position:0%
doing two things the first is pushing
 

00:10:31.800 --> 00:10:34.230 align:start position:0%
doing two things the first is pushing
this<00:10:32.000><c> power</c><00:10:32.240><c> to</c><00:10:32.399><c> the</c><00:10:32.560><c> edge</c><00:10:33.279><c> as</c><00:10:33.440><c> we</c><00:10:33.680><c> deconstruct</c>

00:10:34.230 --> 00:10:34.240 align:start position:0%
this power to the edge as we deconstruct
 

00:10:34.240 --> 00:10:36.629 align:start position:0%
this power to the edge as we deconstruct
the<00:10:34.360><c> computation</c><00:10:34.959><c> as</c><00:10:35.040><c> we</c><00:10:35.200><c> modularize</c><00:10:35.880><c> it</c><00:10:36.360><c> we</c>

00:10:36.629 --> 00:10:36.639 align:start position:0%
the computation as we modularize it we
 

00:10:36.639 --> 00:10:38.829 align:start position:0%
the computation as we modularize it we
push<00:10:37.639><c> and</c><00:10:37.720><c> then</c><00:10:37.880><c> the</c><00:10:38.000><c> second</c><00:10:38.279><c> thing</c><00:10:38.480><c> is</c><00:10:38.639><c> also</c>

00:10:38.829 --> 00:10:38.839 align:start position:0%
push and then the second thing is also
 

00:10:38.839 --> 00:10:40.790 align:start position:0%
push and then the second thing is also
to<00:10:39.040><c> reduce</c><00:10:39.399><c> the</c><00:10:39.560><c> power</c><00:10:39.800><c> of</c><00:10:40.000><c> actually</c><00:10:40.200><c> tees</c><00:10:40.680><c> in</c>

00:10:40.790 --> 00:10:40.800 align:start position:0%
to reduce the power of actually tees in
 

00:10:40.800 --> 00:10:42.870 align:start position:0%
to reduce the power of actually tees in
our<00:10:40.959><c> system</c><00:10:41.480><c> so</c><00:10:41.720><c> tees</c><00:10:42.160><c> are</c><00:10:42.320><c> not</c><00:10:42.440><c> a</c><00:10:42.560><c> silver</c>

00:10:42.870 --> 00:10:42.880 align:start position:0%
our system so tees are not a silver
 

00:10:42.880 --> 00:10:44.790 align:start position:0%
our system so tees are not a silver
bullet<00:10:43.200><c> they're</c><00:10:43.399><c> not</c><00:10:43.880><c> you</c><00:10:44.000><c> know</c><00:10:44.200><c> a</c><00:10:44.399><c> magical</c>

00:10:44.790 --> 00:10:44.800 align:start position:0%
bullet they're not you know a magical
 

00:10:44.800 --> 00:10:46.710 align:start position:0%
bullet they're not you know a magical
solution<00:10:45.279><c> to</c><00:10:45.480><c> everything</c><00:10:46.200><c> they</c><00:10:46.320><c> give</c><00:10:46.480><c> a</c><00:10:46.600><c> lot</c>

00:10:46.710 --> 00:10:46.720 align:start position:0%
solution to everything they give a lot
 

00:10:46.720 --> 00:10:49.269 align:start position:0%
solution to everything they give a lot
of<00:10:46.920><c> power</c><00:10:47.320><c> in</c><00:10:47.440><c> the</c><00:10:47.600><c> system</c><00:10:48.000><c> to</c><00:10:48.240><c> Intel</c><00:10:49.120><c> they</c>

00:10:49.269 --> 00:10:49.279 align:start position:0%
of power in the system to Intel they
 

00:10:49.279 --> 00:10:50.910 align:start position:0%
of power in the system to Intel they
take<00:10:49.440><c> it</c><00:10:49.639><c> away</c><00:10:49.959><c> from</c><00:10:50.200><c> that</c><00:10:50.399><c> graph</c><00:10:50.720><c> that</c><00:10:50.839><c> I</c>

00:10:50.910 --> 00:10:50.920 align:start position:0%
take it away from that graph that I
 

00:10:50.920 --> 00:10:53.389 align:start position:0%
take it away from that graph that I
showed<00:10:51.160><c> you</c><00:10:51.279><c> earlier</c><00:10:51.600><c> with</c><00:10:51.839><c> AWS</c><00:10:52.839><c> and</c><00:10:52.959><c> move</c><00:10:53.279><c> the</c>

00:10:53.389 --> 00:10:53.399 align:start position:0%
showed you earlier with AWS and move the
 

00:10:53.399 --> 00:10:54.870 align:start position:0%
showed you earlier with AWS and move the
needle<00:10:53.720><c> a</c><00:10:53.839><c> little</c><00:10:54.000><c> bit</c><00:10:54.160><c> more</c><00:10:54.560><c> right</c><00:10:54.680><c> now</c>

00:10:54.870 --> 00:10:54.880 align:start position:0%
needle a little bit more right now
 

00:10:54.880 --> 00:10:57.790 align:start position:0%
needle a little bit more right now
towards<00:10:55.320><c> Intel</c><00:10:56.040><c> and</c><00:10:56.240><c> Nvidia</c><00:10:56.920><c> and</c><00:10:57.079><c> AMD</c><00:10:57.639><c> and</c>

00:10:57.790 --> 00:10:57.800 align:start position:0%
towards Intel and Nvidia and AMD and
 

00:10:57.800 --> 00:10:59.910 align:start position:0%
towards Intel and Nvidia and AMD and
other<00:10:58.000><c> Hardware</c><00:10:58.360><c> manufacturers</c>

00:10:59.910 --> 00:10:59.920 align:start position:0%
other Hardware manufacturers
 

00:10:59.920 --> 00:11:01.670 align:start position:0%
other Hardware manufacturers
so<00:11:00.399><c> while</c><00:11:00.560><c> I</c><00:11:00.639><c> would</c><00:11:00.800><c> argue</c><00:11:01.160><c> that's</c><00:11:01.440><c> better</c>

00:11:01.670 --> 00:11:01.680 align:start position:0%
so while I would argue that's better
 

00:11:01.680 --> 00:11:03.829 align:start position:0%
so while I would argue that's better
than<00:11:01.880><c> only</c><00:11:02.240><c> having</c><00:11:02.600><c> kind</c><00:11:02.720><c> of</c><00:11:02.880><c> trafi</c><00:11:03.399><c> latency</c>

00:11:03.829 --> 00:11:03.839 align:start position:0%
than only having kind of trafi latency
 

00:11:03.839 --> 00:11:05.670 align:start position:0%
than only having kind of trafi latency
corridors<00:11:04.399><c> determine</c><00:11:04.839><c> the</c><00:11:04.959><c> evolution</c><00:11:05.399><c> of</c><00:11:05.480><c> our</c>

00:11:05.670 --> 00:11:05.680 align:start position:0%
corridors determine the evolution of our
 

00:11:05.680 --> 00:11:07.949 align:start position:0%
corridors determine the evolution of our
Network<00:11:06.360><c> it's</c><00:11:06.519><c> still</c><00:11:06.720><c> not</c><00:11:06.920><c> perfect</c><00:11:07.440><c> right</c><00:11:07.839><c> and</c>

00:11:07.949 --> 00:11:07.959 align:start position:0%
Network it's still not perfect right and
 

00:11:07.959 --> 00:11:09.870 align:start position:0%
Network it's still not perfect right and
there's<00:11:08.120><c> a</c><00:11:08.240><c> lot</c><00:11:08.440><c> we</c><00:11:08.560><c> can</c><00:11:08.720><c> do</c><00:11:09.040><c> using</c><00:11:09.560><c> other</c>

00:11:09.870 --> 00:11:09.880 align:start position:0%
there's a lot we can do using other
 

00:11:09.880 --> 00:11:11.750 align:start position:0%
there's a lot we can do using other
cryptography<00:11:10.880><c> including</c><00:11:11.320><c> what</c><00:11:11.399><c> we've</c><00:11:11.560><c> heard</c>

00:11:11.750 --> 00:11:11.760 align:start position:0%
cryptography including what we've heard
 

00:11:11.760 --> 00:11:14.790 align:start position:0%
cryptography including what we've heard
on<00:11:11.839><c> the</c><00:11:11.959><c> panel</c><00:11:12.320><c> before</c><00:11:13.320><c> uh</c><00:11:13.440><c> using</c><00:11:14.000><c> using</c><00:11:14.440><c> other</c>

00:11:14.790 --> 00:11:14.800 align:start position:0%
on the panel before uh using using other
 

00:11:14.800 --> 00:11:18.310 align:start position:0%
on the panel before uh using using other
alternative<00:11:15.360><c> te</c><00:11:15.720><c> approaches</c><00:11:16.560><c> open</c><00:11:17.160><c> tees</c><00:11:18.160><c> uh</c>

00:11:18.310 --> 00:11:18.320 align:start position:0%
alternative te approaches open tees uh
 

00:11:18.320 --> 00:11:20.829 align:start position:0%
alternative te approaches open tees uh
things<00:11:18.560><c> like</c><00:11:18.800><c> that</c><00:11:19.240><c> to</c><00:11:19.560><c> sort</c><00:11:19.760><c> of</c><00:11:19.959><c> remove</c><00:11:20.399><c> power</c>

00:11:20.829 --> 00:11:20.839 align:start position:0%
things like that to sort of remove power
 

00:11:20.839 --> 00:11:22.990 align:start position:0%
things like that to sort of remove power
from<00:11:21.040><c> the</c><00:11:21.200><c> te</c><00:11:21.600><c> itself</c><00:11:22.000><c> as</c><00:11:22.160><c> well</c><00:11:22.639><c> so</c><00:11:22.800><c> I</c><00:11:22.880><c> think</c>

00:11:22.990 --> 00:11:23.000 align:start position:0%
from the te itself as well so I think
 

00:11:23.000 --> 00:11:24.750 align:start position:0%
from the te itself as well so I think
it's<00:11:23.079><c> a</c><00:11:23.279><c> two</c><00:11:23.480><c> trck</c><00:11:23.760><c> approach</c><00:11:24.200><c> once</c><00:11:24.399><c> we</c><00:11:24.560><c> have</c>

00:11:24.750 --> 00:11:24.760 align:start position:0%
it's a two trck approach once we have
 

00:11:24.760 --> 00:11:26.949 align:start position:0%
it's a two trck approach once we have
the<00:11:24.959><c> platform</c><00:11:25.680><c> to</c><00:11:25.920><c> distribute</c><00:11:26.480><c> and</c><00:11:26.680><c> push</c>

00:11:26.949 --> 00:11:26.959 align:start position:0%
the platform to distribute and push
 

00:11:26.959 --> 00:11:28.949 align:start position:0%
the platform to distribute and push
things<00:11:27.120><c> to</c><00:11:27.279><c> the</c><00:11:27.399><c> edges</c><00:11:28.320><c> we</c><00:11:28.519><c> then</c><00:11:28.680><c> have</c><00:11:28.760><c> to</c>

00:11:28.949 --> 00:11:28.959 align:start position:0%
things to the edges we then have to
 

00:11:28.959 --> 00:11:30.470 align:start position:0%
things to the edges we then have to
actually<00:11:29.440><c> start</c><00:11:29.639><c> pushing</c><00:11:29.959><c> things</c><00:11:30.120><c> to</c><00:11:30.320><c> those</c>

00:11:30.470 --> 00:11:30.480 align:start position:0%
actually start pushing things to those
 

00:11:30.480 --> 00:11:32.629 align:start position:0%
actually start pushing things to those
edges<00:11:31.040><c> and</c><00:11:31.160><c> I'm</c><00:11:31.240><c> going</c><00:11:31.360><c> to</c><00:11:31.519><c> cover</c><00:11:32.160><c> how</c><00:11:32.320><c> you</c><00:11:32.480><c> all</c>

00:11:32.629 --> 00:11:32.639 align:start position:0%
edges and I'm going to cover how you all
 

00:11:32.639 --> 00:11:35.430 align:start position:0%
edges and I'm going to cover how you all
can<00:11:32.800><c> help</c><00:11:33.040><c> with</c><00:11:33.240><c> that</c><00:11:33.639><c> shortly</c><00:11:34.639><c> um</c><00:11:34.880><c> but</c><00:11:35.079><c> also</c>

00:11:35.430 --> 00:11:35.440 align:start position:0%
can help with that shortly um but also
 

00:11:35.440 --> 00:11:37.590 align:start position:0%
can help with that shortly um but also
start<00:11:35.760><c> kind</c><00:11:35.880><c> of</c><00:11:36.040><c> eroding</c><00:11:36.560><c> that</c><00:11:36.760><c> Core</c><00:11:37.279><c> Power</c>

00:11:37.590 --> 00:11:37.600 align:start position:0%
start kind of eroding that Core Power
 

00:11:37.600 --> 00:11:39.550 align:start position:0%
start kind of eroding that Core Power
that<00:11:37.720><c> we've</c><00:11:37.959><c> now</c><00:11:38.120><c> built</c><00:11:38.440><c> up</c><00:11:38.959><c> in</c><00:11:39.120><c> moving</c><00:11:39.440><c> this</c>

00:11:39.550 --> 00:11:39.560 align:start position:0%
that we've now built up in moving this
 

00:11:39.560 --> 00:11:41.550 align:start position:0%
that we've now built up in moving this
needle<00:11:39.920><c> to</c><00:11:40.120><c> this</c><00:11:40.279><c> other</c><00:11:40.519><c> party</c><00:11:40.880><c> which</c><00:11:40.959><c> is</c>

00:11:41.550 --> 00:11:41.560 align:start position:0%
needle to this other party which is
 

00:11:41.560 --> 00:11:44.069 align:start position:0%
needle to this other party which is
Intel<00:11:42.560><c> um</c><00:11:42.760><c> so</c><00:11:43.000><c> I'm</c><00:11:43.120><c> going</c><00:11:43.279><c> to</c><00:11:43.480><c> ask</c><00:11:43.639><c> for</c><00:11:43.839><c> your</c>

00:11:44.069 --> 00:11:44.079 align:start position:0%
Intel um so I'm going to ask for your
 

00:11:44.079 --> 00:11:46.230 align:start position:0%
Intel um so I'm going to ask for your
help<00:11:44.440><c> please</c><00:11:45.120><c> uh</c><00:11:45.320><c> so</c><00:11:45.519><c> please</c><00:11:45.800><c> give</c><00:11:45.920><c> me</c><00:11:46.079><c> your</c>

00:11:46.230 --> 00:11:46.240 align:start position:0%
help please uh so please give me your
 

00:11:46.240 --> 00:11:48.269 align:start position:0%
help please uh so please give me your
arms<00:11:46.600><c> or</c><00:11:46.839><c> if</c><00:11:46.920><c> you</c><00:11:47.040><c> don't</c><00:11:47.279><c> have</c><00:11:47.440><c> arms</c><00:11:47.800><c> just</c><00:11:47.959><c> your</c>

00:11:48.269 --> 00:11:48.279 align:start position:0%
arms or if you don't have arms just your
 

00:11:48.279 --> 00:11:50.470 align:start position:0%
arms or if you don't have arms just your
body<00:11:48.959><c> give</c><00:11:49.120><c> me</c><00:11:49.240><c> your</c><00:11:49.399><c> soul</c><00:11:49.800><c> sounded</c><00:11:50.200><c> kind</c><00:11:50.320><c> of</c>

00:11:50.470 --> 00:11:50.480 align:start position:0%
body give me your soul sounded kind of
 

00:11:50.480 --> 00:11:51.870 align:start position:0%
body give me your soul sounded kind of
dystopian<00:11:51.040><c> so</c><00:11:51.160><c> I'm</c><00:11:51.240><c> not</c><00:11:51.360><c> going</c><00:11:51.480><c> to</c><00:11:51.600><c> ask</c><00:11:51.720><c> for</c>

00:11:51.870 --> 00:11:51.880 align:start position:0%
dystopian so I'm not going to ask for
 

00:11:51.880 --> 00:11:53.949 align:start position:0%
dystopian so I'm not going to ask for
your<00:11:52.040><c> soul</c><00:11:52.880><c> uh</c><00:11:53.000><c> but</c><00:11:53.120><c> please</c><00:11:53.480><c> give</c><00:11:53.600><c> me</c><00:11:53.760><c> your</c>

00:11:53.949 --> 00:11:53.959 align:start position:0%
your soul uh but please give me your
 

00:11:53.959 --> 00:11:56.190 align:start position:0%
your soul uh but please give me your
help<00:11:54.240><c> in</c><00:11:54.440><c> this</c><00:11:55.079><c> and</c><00:11:55.279><c> how</c><00:11:55.480><c> can</c><00:11:55.639><c> you</c><00:11:55.800><c> all</c><00:11:56.000><c> help</c>

00:11:56.190 --> 00:11:56.200 align:start position:0%
help in this and how can you all help
 

00:11:56.200 --> 00:11:58.750 align:start position:0%
help in this and how can you all help
with<00:11:56.399><c> this</c><00:11:56.720><c> well</c><00:11:57.320><c> if</c><00:11:57.440><c> you're</c><00:11:57.600><c> a</c><00:11:57.839><c> Dap</c><00:11:58.160><c> developer</c>

00:11:58.750 --> 00:11:58.760 align:start position:0%
with this well if you're a Dap developer
 

00:11:58.760 --> 00:12:00.590 align:start position:0%
with this well if you're a Dap developer
if<00:11:58.880><c> you're</c><00:11:59.000><c> an</c><00:11:59.320><c> infrastructure</c><00:11:59.959><c> developer</c><00:12:00.519><c> if</c>

00:12:00.590 --> 00:12:00.600 align:start position:0%
if you're an infrastructure developer if
 

00:12:00.600 --> 00:12:03.670 align:start position:0%
if you're an infrastructure developer if
you're<00:12:00.760><c> a</c><00:12:00.959><c> user</c><00:12:01.959><c> ask</c><00:12:02.240><c> yourself</c><00:12:02.959><c> how</c><00:12:03.160><c> can</c><00:12:03.399><c> we</c>

00:12:03.670 --> 00:12:03.680 align:start position:0%
you're a user ask yourself how can we
 

00:12:03.680 --> 00:12:06.389 align:start position:0%
you're a user ask yourself how can we
for<00:12:03.959><c> our</c><00:12:04.839><c> our</c><00:12:05.079><c> uses</c><00:12:05.639><c> what</c><00:12:05.760><c> we're</c><00:12:05.959><c> doing</c><00:12:06.279><c> what</c>

00:12:06.389 --> 00:12:06.399 align:start position:0%
for our our uses what we're doing what
 

00:12:06.399 --> 00:12:09.069 align:start position:0%
for our our uses what we're doing what
we're<00:12:06.560><c> using</c><00:12:06.800><c> the</c><00:12:06.920><c> protocol</c><00:12:07.480><c> for</c><00:12:08.480><c> how</c><00:12:08.680><c> can</c><00:12:08.839><c> we</c>

00:12:09.069 --> 00:12:09.079 align:start position:0%
we're using the protocol for how can we
 

00:12:09.079 --> 00:12:11.430 align:start position:0%
we're using the protocol for how can we
get<00:12:09.360><c> power</c><00:12:09.839><c> off</c><00:12:10.000><c> of</c><00:12:10.320><c> these</c><00:12:10.800><c> corridors</c><00:12:11.279><c> of</c>

00:12:11.430 --> 00:12:11.440 align:start position:0%
get power off of these corridors of
 

00:12:11.440 --> 00:12:13.430 align:start position:0%
get power off of these corridors of
power<00:12:11.720><c> that</c><00:12:11.839><c> we</c><00:12:11.959><c> see</c><00:12:12.240><c> here</c><00:12:12.880><c> can</c><00:12:13.040><c> we</c><00:12:13.160><c> use</c>

00:12:13.430 --> 00:12:13.440 align:start position:0%
power that we see here can we use
 

00:12:13.440 --> 00:12:14.670 align:start position:0%
power that we see here can we use
endpoints<00:12:14.000><c> that</c><00:12:14.079><c> are</c><00:12:14.240><c> in</c><00:12:14.399><c> different</c>

00:12:14.670 --> 00:12:14.680 align:start position:0%
endpoints that are in different
 

00:12:14.680 --> 00:12:17.030 align:start position:0%
endpoints that are in different
locations<00:12:15.279><c> do</c><00:12:15.440><c> they</c><00:12:15.560><c> meet</c><00:12:15.760><c> our</c><00:12:15.920><c> needs</c><00:12:16.680><c> can</c><00:12:16.839><c> we</c>

00:12:17.030 --> 00:12:17.040 align:start position:0%
locations do they meet our needs can we
 

00:12:17.040 --> 00:12:19.030 align:start position:0%
locations do they meet our needs can we
deploy<00:12:17.440><c> our</c><00:12:17.600><c> server</c><00:12:18.399><c> somewhere</c><00:12:18.839><c> that</c>

00:12:19.030 --> 00:12:19.040 align:start position:0%
deploy our server somewhere that
 

00:12:19.040 --> 00:12:20.629 align:start position:0%
deploy our server somewhere that
geographically<00:12:19.760><c> makes</c><00:12:20.040><c> sense</c><00:12:20.320><c> for</c><00:12:20.519><c> the</c>

00:12:20.629 --> 00:12:20.639 align:start position:0%
geographically makes sense for the
 

00:12:20.639 --> 00:12:21.949 align:start position:0%
geographically makes sense for the
change<00:12:20.920><c> we're</c><00:12:21.120><c> trying</c><00:12:21.360><c> to</c><00:12:21.519><c> create</c><00:12:21.760><c> in</c><00:12:21.839><c> the</c>

00:12:21.949 --> 00:12:21.959 align:start position:0%
change we're trying to create in the
 

00:12:21.959 --> 00:12:24.710 align:start position:0%
change we're trying to create in the
world<00:12:22.600><c> rather</c><00:12:22.839><c> than</c><00:12:23.000><c> defaulting</c><00:12:23.560><c> to</c><00:12:23.920><c> us</c><00:12:24.240><c> east1</c>

00:12:24.710 --> 00:12:24.720 align:start position:0%
world rather than defaulting to us east1
 

00:12:24.720 --> 00:12:26.590 align:start position:0%
world rather than defaulting to us east1
on<00:12:24.880><c> AWS</c><00:12:25.639><c> because</c><00:12:25.800><c> it's</c><00:12:25.959><c> the</c><00:12:26.079><c> first</c><00:12:26.320><c> thing</c><00:12:26.440><c> that</c>

00:12:26.590 --> 00:12:26.600 align:start position:0%
on AWS because it's the first thing that
 

00:12:26.600 --> 00:12:28.509 align:start position:0%
on AWS because it's the first thing that
happens<00:12:26.920><c> when</c><00:12:27.040><c> you</c><00:12:27.199><c> click</c><00:12:27.440><c> launch</c><00:12:28.120><c> are</c><00:12:28.279><c> we</c>

00:12:28.509 --> 00:12:28.519 align:start position:0%
happens when you click launch are we
 

00:12:28.519 --> 00:12:30.590 align:start position:0%
happens when you click launch are we
able<00:12:28.800><c> to</c><00:12:28.959><c> make</c><00:12:29.320><c> that</c><00:12:29.440><c> change</c><00:12:29.800><c> as</c><00:12:29.880><c> a</c><00:12:30.079><c> space</c><00:12:30.519><c> I</c>

00:12:30.590 --> 00:12:30.600 align:start position:0%
able to make that change as a space I
 

00:12:30.600 --> 00:12:32.470 align:start position:0%
able to make that change as a space I
think<00:12:30.880><c> everyone</c><00:12:31.279><c> needs</c><00:12:31.480><c> to</c><00:12:31.680><c> spend</c><00:12:31.959><c> some</c><00:12:32.199><c> time</c>

00:12:32.470 --> 00:12:32.480 align:start position:0%
think everyone needs to spend some time
 

00:12:32.480 --> 00:12:34.550 align:start position:0%
think everyone needs to spend some time
thinking<00:12:33.199><c> about</c><00:12:33.480><c> what</c><00:12:33.600><c> am</c><00:12:33.680><c> I</c><00:12:33.839><c> doing</c><00:12:34.160><c> and</c><00:12:34.279><c> is</c><00:12:34.360><c> it</c>

00:12:34.550 --> 00:12:34.560 align:start position:0%
thinking about what am I doing and is it
 

00:12:34.560 --> 00:12:36.750 align:start position:0%
thinking about what am I doing and is it
actually<00:12:34.839><c> helping</c><00:12:35.639><c> centralize</c><00:12:36.240><c> power</c><00:12:36.480><c> onto</c>

00:12:36.750 --> 00:12:36.760 align:start position:0%
actually helping centralize power onto
 

00:12:36.760 --> 00:12:38.350 align:start position:0%
actually helping centralize power onto
these<00:12:36.920><c> power</c><00:12:37.199><c> corridors</c><00:12:37.680><c> or</c><00:12:37.880><c> is</c><00:12:37.959><c> it</c><00:12:38.160><c> actually</c>

00:12:38.350 --> 00:12:38.360 align:start position:0%
these power corridors or is it actually
 

00:12:38.360 --> 00:12:40.790 align:start position:0%
these power corridors or is it actually
helping<00:12:38.760><c> push</c><00:12:39.000><c> power</c><00:12:39.279><c> out</c><00:12:39.440><c> to</c><00:12:39.600><c> the</c><00:12:39.720><c> edges</c><00:12:40.680><c> uh</c>

00:12:40.790 --> 00:12:40.800 align:start position:0%
helping push power out to the edges uh
 

00:12:40.800 --> 00:12:42.389 align:start position:0%
helping push power out to the edges uh
which<00:12:40.920><c> is</c><00:12:41.079><c> what</c><00:12:41.320><c> actually</c><00:12:41.600><c> underlies</c><00:12:42.240><c> the</c>

00:12:42.389 --> 00:12:42.399 align:start position:0%
which is what actually underlies the
 

00:12:42.399 --> 00:12:44.750 align:start position:0%
which is what actually underlies the
long-term<00:12:42.959><c> value</c><00:12:43.440><c> of</c><00:12:43.600><c> decentralization</c><00:12:44.560><c> and</c>

00:12:44.750 --> 00:12:44.760 align:start position:0%
long-term value of decentralization and
 

00:12:44.760 --> 00:12:48.750 align:start position:0%
long-term value of decentralization and
cooperation<00:12:45.760><c> and</c><00:12:45.959><c> even</c><00:12:46.160><c> the</c><00:12:46.360><c> price</c><00:12:46.880><c> yes</c><00:12:47.880><c> um</c>

00:12:48.750 --> 00:12:48.760 align:start position:0%
cooperation and even the price yes um
 

00:12:48.760 --> 00:12:52.150 align:start position:0%
cooperation and even the price yes um
okay<00:12:48.880><c> so</c><00:12:49.079><c> going</c><00:12:49.320><c> back</c><00:12:49.440><c> to</c><00:12:49.680><c> this</c><00:12:49.920><c> graph</c><00:12:50.800><c> uh</c><00:12:51.720><c> um</c>

00:12:52.150 --> 00:12:52.160 align:start position:0%
okay so going back to this graph uh um
 

00:12:52.160 --> 00:12:53.710 align:start position:0%
okay so going back to this graph uh um
well<00:12:52.440><c> one</c><00:12:52.720><c> obvious</c><00:12:53.079><c> thing</c><00:12:53.279><c> you</c><00:12:53.360><c> might</c><00:12:53.560><c> just</c>

00:12:53.710 --> 00:12:53.720 align:start position:0%
well one obvious thing you might just
 

00:12:53.720 --> 00:12:55.629 align:start position:0%
well one obvious thing you might just
say<00:12:53.920><c> is</c><00:12:54.120><c> oh</c><00:12:54.279><c> we</c><00:12:54.399><c> have</c><00:12:54.560><c> many</c><00:12:54.800><c> boxes</c><00:12:55.279><c> why</c><00:12:55.440><c> not</c>

00:12:55.629 --> 00:12:55.639 align:start position:0%
say is oh we have many boxes why not
 

00:12:55.639 --> 00:12:57.590 align:start position:0%
say is oh we have many boxes why not
just<00:12:55.800><c> have</c><00:12:56.040><c> many</c><00:12:56.240><c> of</c><00:12:56.399><c> them</c><00:12:56.680><c> just</c><00:12:56.839><c> sign</c><00:12:57.199><c> or</c><00:12:57.399><c> have</c>

00:12:57.590 --> 00:12:57.600 align:start position:0%
just have many of them just sign or have
 

00:12:57.600 --> 00:12:59.750 align:start position:0%
just have many of them just sign or have
some<00:12:57.720><c> sort</c><00:12:57.920><c> of</c><00:12:58.079><c> list</c><00:12:58.440><c> where</c><00:12:58.639><c> the</c><00:12:59.199><c> proposer</c><00:12:59.600><c> is</c>

00:12:59.750 --> 00:12:59.760 align:start position:0%
some sort of list where the proposer is
 

00:12:59.760 --> 00:13:01.949 align:start position:0%
some sort of list where the proposer is
forced<00:13:00.079><c> to</c><00:13:00.279><c> sign</c><00:13:01.079><c> well</c><00:13:01.240><c> the</c><00:13:01.320><c> reason</c><00:13:01.560><c> is</c><00:13:01.760><c> very</c>

00:13:01.949 --> 00:13:01.959 align:start position:0%
forced to sign well the reason is very
 

00:13:01.959 --> 00:13:03.629 align:start position:0%
forced to sign well the reason is very
simple<00:13:02.320><c> because</c><00:13:02.480><c> it</c><00:13:02.600><c> doesn't</c><00:13:02.959><c> actually</c><00:13:03.279><c> solve</c>

00:13:03.629 --> 00:13:03.639 align:start position:0%
simple because it doesn't actually solve
 

00:13:03.639 --> 00:13:05.430 align:start position:0%
simple because it doesn't actually solve
the<00:13:03.800><c> power</c><00:13:04.079><c> distribution</c><00:13:04.680><c> problem</c><00:13:04.959><c> it's</c><00:13:05.199><c> not</c>

00:13:05.430 --> 00:13:05.440 align:start position:0%
the power distribution problem it's not
 

00:13:05.440 --> 00:13:08.230 align:start position:0%
the power distribution problem it's not
a<00:13:05.600><c> meaningful</c><00:13:06.240><c> solution</c><00:13:07.199><c> to</c><00:13:07.519><c> censorship</c><00:13:08.079><c> in</c>

00:13:08.230 --> 00:13:08.240 align:start position:0%
a meaningful solution to censorship in
 

00:13:08.240 --> 00:13:11.110 align:start position:0%
a meaningful solution to censorship in
any<00:13:08.440><c> way</c><00:13:08.760><c> right</c><00:13:09.399><c> um</c><00:13:09.600><c> if</c><00:13:09.800><c> in</c><00:13:09.959><c> your</c><00:13:10.199><c> metag</c><00:13:10.560><c> game</c>

00:13:11.110 --> 00:13:11.120 align:start position:0%
any way right um if in your metag game
 

00:13:11.120 --> 00:13:13.230 align:start position:0%
any way right um if in your metag game
you<00:13:11.360><c> collapse</c><00:13:11.839><c> to</c><00:13:12.000><c> a</c><00:13:12.160><c> state</c><00:13:12.440><c> where</c><00:13:12.639><c> the</c><00:13:12.839><c> system</c>

00:13:13.230 --> 00:13:13.240 align:start position:0%
you collapse to a state where the system
 

00:13:13.240 --> 00:13:16.269 align:start position:0%
you collapse to a state where the system
itself<00:13:13.720><c> is</c><00:13:13.959><c> very</c><00:13:14.440><c> centralized</c><00:13:15.440><c> no</c><00:13:15.760><c> form</c><00:13:16.040><c> of</c>

00:13:16.269 --> 00:13:16.279 align:start position:0%
itself is very centralized no form of
 

00:13:16.279 --> 00:13:18.069 align:start position:0%
itself is very centralized no form of
technical<00:13:16.720><c> papier-mâché</c><00:13:17.680><c> technical</c>

00:13:18.069 --> 00:13:18.079 align:start position:0%
technical papier-mâché technical
 

00:13:18.079 --> 00:13:20.389 align:start position:0%
technical papier-mâché technical
decentralization<00:13:19.000><c> Etc</c><00:13:19.880><c> even</c><00:13:20.120><c> though</c><00:13:20.240><c> it</c>

00:13:20.389 --> 00:13:20.399 align:start position:0%
decentralization Etc even though it
 

00:13:20.399 --> 00:13:22.670 align:start position:0%
decentralization Etc even though it
feels<00:13:20.880><c> really</c><00:13:21.160><c> good</c><00:13:21.320><c> to</c><00:13:21.560><c> us</c><00:13:21.839><c> as</c><00:13:22.040><c> technologists</c>

00:13:22.670 --> 00:13:22.680 align:start position:0%
feels really good to us as technologists
 

00:13:22.680 --> 00:13:25.430 align:start position:0%
feels really good to us as technologists
it<00:13:22.800><c> feels</c><00:13:23.240><c> great</c><00:13:23.519><c> to</c><00:13:23.720><c> just</c><00:13:23.880><c> say</c><00:13:24.199><c> like</c><00:13:24.519><c> hey</c><00:13:25.279><c> we</c>

00:13:25.430 --> 00:13:25.440 align:start position:0%
it feels great to just say like hey we
 

00:13:25.440 --> 00:13:26.910 align:start position:0%
it feels great to just say like hey we
can<00:13:25.600><c> just</c><00:13:25.760><c> do</c><00:13:26.000><c> this</c><00:13:26.120><c> and</c><00:13:26.240><c> it</c><00:13:26.399><c> solves</c><00:13:26.720><c> the</c>

00:13:26.910 --> 00:13:26.920 align:start position:0%
can just do this and it solves the
 

00:13:26.920 --> 00:13:29.430 align:start position:0%
can just do this and it solves the
problem<00:13:27.880><c> does</c><00:13:28.079><c> it</c><00:13:28.519><c> I</c><00:13:28.560><c> mean</c><00:13:28.760><c> let's</c><00:13:28.959><c> let's</c><00:13:29.279><c> let's</c>

00:13:29.430 --> 00:13:29.440 align:start position:0%
problem does it I mean let's let's let's
 

00:13:29.440 --> 00:13:30.949 align:start position:0%
problem does it I mean let's let's let's
think<00:13:29.600><c> about</c><00:13:29.760><c> it</c><00:13:29.880><c> for</c><00:13:30.000><c> a</c><00:13:30.160><c> second</c><00:13:30.680><c> um</c><00:13:30.800><c> so</c>

00:13:30.949 --> 00:13:30.959 align:start position:0%
think about it for a second um so
 

00:13:30.959 --> 00:13:32.470 align:start position:0%
think about it for a second um so
certainly<00:13:31.279><c> on</c><00:13:31.480><c> binance</c><00:13:31.839><c> Smart</c><00:13:32.160><c> chain</c><00:13:32.399><c> it</c>

00:13:32.470 --> 00:13:32.480 align:start position:0%
certainly on binance Smart chain it
 

00:13:32.480 --> 00:13:34.269 align:start position:0%
certainly on binance Smart chain it
would<00:13:32.680><c> not</c><00:13:33.279><c> and</c><00:13:33.399><c> in</c><00:13:33.560><c> general</c><00:13:33.920><c> what</c><00:13:34.040><c> I</c><00:13:34.120><c> would</c>

00:13:34.269 --> 00:13:34.279 align:start position:0%
would not and in general what I would
 

00:13:34.279 --> 00:13:36.550 align:start position:0%
would not and in general what I would
say<00:13:34.480><c> is</c><00:13:34.680><c> censorship</c><00:13:35.399><c> and</c><00:13:35.600><c> power</c><00:13:35.920><c> dynamics</c><00:13:36.399><c> and</c>

00:13:36.550 --> 00:13:36.560 align:start position:0%
say is censorship and power dynamics and
 

00:13:36.560 --> 00:13:37.870 align:start position:0%
say is censorship and power dynamics and
the<00:13:36.680><c> way</c><00:13:36.800><c> our</c><00:13:36.920><c> money</c><00:13:37.240><c> works</c><00:13:37.519><c> these</c><00:13:37.639><c> are</c>

00:13:37.870 --> 00:13:37.880 align:start position:0%
the way our money works these are
 

00:13:37.880 --> 00:13:39.550 align:start position:0%
the way our money works these are
political<00:13:38.360><c> problems</c><00:13:39.040><c> we're</c><00:13:39.199><c> not</c><00:13:39.320><c> going</c><00:13:39.440><c> to</c>

00:13:39.550 --> 00:13:39.560 align:start position:0%
political problems we're not going to
 

00:13:39.560 --> 00:13:41.150 align:start position:0%
political problems we're not going to
Tech<00:13:39.800><c> Tree</c><00:13:40.040><c> our</c><00:13:40.160><c> way</c><00:13:40.320><c> out</c><00:13:40.440><c> of</c><00:13:40.600><c> these</c><00:13:40.839><c> problems</c>

00:13:41.150 --> 00:13:41.160 align:start position:0%
Tech Tree our way out of these problems
 

00:13:41.160 --> 00:13:43.030 align:start position:0%
Tech Tree our way out of these problems
we<00:13:41.240><c> need</c><00:13:41.399><c> to</c><00:13:41.519><c> have</c><00:13:41.720><c> deeper</c><00:13:42.160><c> conversations</c>

00:13:43.030 --> 00:13:43.040 align:start position:0%
we need to have deeper conversations
 

00:13:43.040 --> 00:13:45.230 align:start position:0%
we need to have deeper conversations
about<00:13:43.320><c> where</c><00:13:43.519><c> the</c><00:13:43.720><c> power</c><00:13:44.000><c> is</c><00:13:44.120><c> in</c><00:13:44.279><c> our</c><00:13:44.440><c> Network</c>

00:13:45.230 --> 00:13:45.240 align:start position:0%
about where the power is in our Network
 

00:13:45.240 --> 00:13:46.430 align:start position:0%
about where the power is in our Network
where<00:13:45.399><c> we're</c><00:13:45.560><c> building</c><00:13:45.959><c> power</c><00:13:46.160><c> in</c><00:13:46.279><c> our</c>

00:13:46.430 --> 00:13:46.440 align:start position:0%
where we're building power in our
 

00:13:46.440 --> 00:13:48.110 align:start position:0%
where we're building power in our
Network<00:13:46.760><c> and</c><00:13:46.920><c> how</c><00:13:47.079><c> we</c><00:13:47.240><c> iterate</c><00:13:47.680><c> that</c><00:13:47.880><c> towards</c>

00:13:48.110 --> 00:13:48.120 align:start position:0%
Network and how we iterate that towards
 

00:13:48.120 --> 00:13:51.389 align:start position:0%
Network and how we iterate that towards
a<00:13:48.360><c> place</c><00:13:48.639><c> that</c><00:13:48.760><c> works</c><00:13:49.040><c> better</c><00:13:49.279><c> for</c><00:13:49.720><c> us</c><00:13:50.720><c> um</c><00:13:51.240><c> that</c>

00:13:51.389 --> 00:13:51.399 align:start position:0%
a place that works better for us um that
 

00:13:51.399 --> 00:13:52.790 align:start position:0%
a place that works better for us um that
being<00:13:51.639><c> said</c><00:13:51.880><c> that</c><00:13:52.000><c> doesn't</c><00:13:52.240><c> mean</c><00:13:52.440><c> that</c><00:13:52.600><c> as</c>

00:13:52.790 --> 00:13:52.800 align:start position:0%
being said that doesn't mean that as
 

00:13:52.800 --> 00:13:54.670 align:start position:0%
being said that doesn't mean that as
technologist<00:13:53.399><c> we</c><00:13:53.519><c> can</c><00:13:53.639><c> do</c><00:13:53.839><c> nothing</c><00:13:54.240><c> our</c><00:13:54.480><c> job</c>

00:13:54.670 --> 00:13:54.680 align:start position:0%
technologist we can do nothing our job
 

00:13:54.680 --> 00:13:57.150 align:start position:0%
technologist we can do nothing our job
is<00:13:54.839><c> not</c><00:13:55.000><c> to</c><00:13:55.160><c> make</c><00:13:55.320><c> it</c><00:13:55.480><c> worse</c><00:13:56.279><c> so</c><00:13:56.519><c> please</c><00:13:56.880><c> also</c>

00:13:57.150 --> 00:13:57.160 align:start position:0%
is not to make it worse so please also
 

00:13:57.160 --> 00:13:58.590 align:start position:0%
is not to make it worse so please also
help<00:13:57.320><c> me</c><00:13:57.440><c> in</c><00:13:57.639><c> that</c><00:13:57.800><c> if</c><00:13:57.880><c> you're</c><00:13:58.079><c> participating</c>

00:13:58.590 --> 00:13:58.600 align:start position:0%
help me in that if you're participating
 

00:13:58.600 --> 00:14:00.790 align:start position:0%
help me in that if you're participating
in<00:13:58.720><c> this</c><00:13:58.839><c> space</c><00:13:59.360><c> do</c><00:13:59.519><c> not</c><00:13:59.800><c> centralize</c><00:14:00.399><c> power</c>

00:14:00.790 --> 00:14:00.800 align:start position:0%
in this space do not centralize power
 

00:14:00.800 --> 00:14:03.710 align:start position:0%
in this space do not centralize power
back<00:14:01.320><c> to</c><00:14:01.560><c> those</c><00:14:02.199><c> corridors</c>

00:14:03.710 --> 00:14:03.720 align:start position:0%
back to those corridors
 

00:14:03.720 --> 00:14:06.430 align:start position:0%
back to those corridors
um<00:14:04.720><c> and</c><00:14:04.880><c> remember</c><00:14:05.399><c> today</c><00:14:05.800><c> we</c><00:14:05.959><c> already</c><00:14:06.160><c> live</c><00:14:06.320><c> in</c>

00:14:06.430 --> 00:14:06.440 align:start position:0%
um and remember today we already live in
 

00:14:06.440 --> 00:14:08.310 align:start position:0%
um and remember today we already live in
a<00:14:06.560><c> world</c><00:14:06.880><c> where</c><00:14:07.360><c> much</c><00:14:07.560><c> of</c><00:14:07.680><c> the</c><00:14:07.800><c> world's</c><00:14:08.120><c> power</c>

00:14:08.310 --> 00:14:08.320 align:start position:0%
a world where much of the world's power
 

00:14:08.320 --> 00:14:10.430 align:start position:0%
a world where much of the world's power
is<00:14:08.480><c> centralized</c><00:14:09.120><c> and</c><00:14:09.240><c> centralization</c><00:14:09.920><c> begets</c>

00:14:10.430 --> 00:14:10.440 align:start position:0%
is centralized and centralization begets
 

00:14:10.440 --> 00:14:12.350 align:start position:0%
is centralized and centralization begets
centralization<00:14:11.440><c> so</c><00:14:11.600><c> I</c><00:14:11.680><c> think</c><00:14:11.800><c> this</c><00:14:11.920><c> is</c><00:14:12.079><c> really</c>

00:14:12.350 --> 00:14:12.360 align:start position:0%
centralization so I think this is really
 

00:14:12.360 --> 00:14:14.150 align:start position:0%
centralization so I think this is really
existential<00:14:12.880><c> to</c><00:14:13.079><c> eth</c><00:14:13.480><c> we're</c><00:14:13.680><c> at</c><00:14:13.800><c> the</c><00:14:13.959><c> point</c>

00:14:14.150 --> 00:14:14.160 align:start position:0%
existential to eth we're at the point
 

00:14:14.160 --> 00:14:16.389 align:start position:0%
existential to eth we're at the point
where<00:14:14.279><c> we</c><00:14:14.399><c> have</c><00:14:14.519><c> a</c><00:14:14.680><c> choice</c><00:14:15.120><c> as</c><00:14:15.240><c> a</c><00:14:15.360><c> community</c><00:14:16.240><c> of</c>

00:14:16.389 --> 00:14:16.399 align:start position:0%
where we have a choice as a community of
 

00:14:16.399 --> 00:14:17.949 align:start position:0%
where we have a choice as a community of
do<00:14:16.519><c> we</c><00:14:16.680><c> start</c><00:14:16.959><c> pushing</c><00:14:17.320><c> the</c><00:14:17.480><c> power</c><00:14:17.759><c> we've</c>

00:14:17.949 --> 00:14:17.959 align:start position:0%
do we start pushing the power we've
 

00:14:17.959 --> 00:14:20.949 align:start position:0%
do we start pushing the power we've
built<00:14:18.320><c> out</c><00:14:18.800><c> outside</c><00:14:19.199><c> of</c><00:14:19.399><c> AWS</c><00:14:20.399><c> or</c><00:14:20.560><c> do</c><00:14:20.720><c> we</c>

00:14:20.949 --> 00:14:20.959 align:start position:0%
built out outside of AWS or do we
 

00:14:20.959 --> 00:14:23.749 align:start position:0%
built out outside of AWS or do we
concentrate<00:14:21.480><c> it</c><00:14:22.040><c> seeking</c><00:14:22.480><c> ETF</c><00:14:23.079><c> inflows</c>

00:14:23.749 --> 00:14:23.759 align:start position:0%
concentrate it seeking ETF inflows
 

00:14:23.759 --> 00:14:25.790 align:start position:0%
concentrate it seeking ETF inflows
seeking<00:14:24.199><c> Stock</c><00:14:24.480><c> Exchange</c><00:14:24.880><c> listings</c><00:14:25.440><c> seeking</c>

00:14:25.790 --> 00:14:25.800 align:start position:0%
seeking Stock Exchange listings seeking
 

00:14:25.800 --> 00:14:28.670 align:start position:0%
seeking Stock Exchange listings seeking
trafi<00:14:26.680><c> participation</c><00:14:27.680><c> and</c><00:14:28.000><c> concentrate</c><00:14:28.560><c> the</c>

00:14:28.670 --> 00:14:28.680 align:start position:0%
trafi participation and concentrate the
 

00:14:28.680 --> 00:14:30.629 align:start position:0%
trafi participation and concentrate the
system<00:14:29.120><c> to</c><00:14:29.279><c> the</c><00:14:29.440><c> very</c><00:14:29.720><c> corridors</c><00:14:30.160><c> of</c><00:14:30.320><c> power</c>

00:14:30.629 --> 00:14:30.639 align:start position:0%
system to the very corridors of power
 

00:14:30.639 --> 00:14:32.150 align:start position:0%
system to the very corridors of power
that<00:14:30.759><c> we</c><00:14:30.920><c> thought</c><00:14:31.079><c> we</c><00:14:31.160><c> were</c>

00:14:32.150 --> 00:14:32.160 align:start position:0%
that we thought we were
 

00:14:32.160 --> 00:14:34.790 align:start position:0%
that we thought we were
disrupting<00:14:33.160><c> um</c><00:14:33.720><c> so</c><00:14:34.079><c> to</c><00:14:34.279><c> get</c><00:14:34.480><c> actual</c>

00:14:34.790 --> 00:14:34.800 align:start position:0%
disrupting um so to get actual
 

00:14:34.800 --> 00:14:36.550 align:start position:0%
disrupting um so to get actual
decentralization<00:14:35.680><c> well</c><00:14:35.839><c> the</c><00:14:36.000><c> definition</c><00:14:36.399><c> is</c>

00:14:36.550 --> 00:14:36.560 align:start position:0%
decentralization well the definition is
 

00:14:36.560 --> 00:14:38.110 align:start position:0%
decentralization well the definition is
very<00:14:36.759><c> simple</c><00:14:37.279><c> it's</c><00:14:37.480><c> how</c><00:14:37.639><c> much</c><00:14:37.839><c> have</c><00:14:37.959><c> you</c>

00:14:38.110 --> 00:14:38.120 align:start position:0%
very simple it's how much have you
 

00:14:38.120 --> 00:14:40.389 align:start position:0%
very simple it's how much have you
pushed<00:14:38.360><c> this</c><00:14:38.519><c> to</c><00:14:38.680><c> the</c><00:14:38.880><c> edges</c><00:14:39.880><c> um</c><00:14:40.000><c> and</c><00:14:40.120><c> I</c><00:14:40.240><c> wish</c>

00:14:40.389 --> 00:14:40.399 align:start position:0%
pushed this to the edges um and I wish
 

00:14:40.399 --> 00:14:41.790 align:start position:0%
pushed this to the edges um and I wish
it<00:14:40.519><c> was</c><00:14:40.720><c> something</c><00:14:41.000><c> that</c><00:14:41.120><c> could</c><00:14:41.279><c> be</c><00:14:41.440><c> easily</c>

00:14:41.790 --> 00:14:41.800 align:start position:0%
it was something that could be easily
 

00:14:41.800 --> 00:14:43.949 align:start position:0%
it was something that could be easily
Quantified<00:14:42.560><c> but</c><00:14:42.759><c> unfortunately</c><00:14:43.440><c> it's</c><00:14:43.680><c> not</c>

00:14:43.949 --> 00:14:43.959 align:start position:0%
Quantified but unfortunately it's not
 

00:14:43.959 --> 00:14:45.550 align:start position:0%
Quantified but unfortunately it's not
and<00:14:44.120><c> that's</c><00:14:44.360><c> just</c><00:14:44.759><c> something</c><00:14:45.160><c> we</c><00:14:45.279><c> have</c><00:14:45.399><c> to</c>

00:14:45.550 --> 00:14:45.560 align:start position:0%
and that's just something we have to
 

00:14:45.560 --> 00:14:48.230 align:start position:0%
and that's just something we have to
live<00:14:46.120><c> with</c><00:14:47.120><c> a</c><00:14:47.240><c> few</c><00:14:47.399><c> more</c><00:14:47.600><c> things</c><00:14:47.800><c> I</c><00:14:47.959><c> have</c><00:14:48.079><c> to</c>

00:14:48.230 --> 00:14:48.240 align:start position:0%
live with a few more things I have to
 

00:14:48.240 --> 00:14:50.870 align:start position:0%
live with a few more things I have to
say<00:14:48.519><c> so</c><00:14:48.720><c> the</c><00:14:48.880><c> first</c><00:14:49.320><c> is</c><00:14:50.320><c> um</c><00:14:50.480><c> this</c><00:14:50.560><c> is</c><00:14:50.639><c> a</c><00:14:50.759><c> little</c>

00:14:50.870 --> 00:14:50.880 align:start position:0%
say so the first is um this is a little
 

00:14:50.880 --> 00:14:52.749 align:start position:0%
say so the first is um this is a little
bit<00:14:51.079><c> spicy</c><00:14:51.399><c> and</c><00:14:51.519><c> a</c><00:14:51.600><c> little</c><00:14:51.759><c> trolly</c><00:14:52.440><c> I</c><00:14:52.519><c> think</c><00:14:52.639><c> we</c>

00:14:52.749 --> 00:14:52.759 align:start position:0%
bit spicy and a little trolly I think we
 

00:14:52.759 --> 00:14:54.910 align:start position:0%
bit spicy and a little trolly I think we
should<00:14:53.000><c> reject</c><00:14:53.480><c> the</c><00:14:53.600><c> ethereum</c><00:14:54.040><c> endgame</c><00:14:54.759><c> so</c>

00:14:54.910 --> 00:14:54.920 align:start position:0%
should reject the ethereum endgame so
 

00:14:54.920 --> 00:14:56.790 align:start position:0%
should reject the ethereum endgame so
the<00:14:55.040><c> ethereum</c><00:14:55.519><c> endgame</c><00:14:56.120><c> for</c><00:14:56.320><c> those</c><00:14:56.480><c> who</c><00:14:56.639><c> know</c>

00:14:56.790 --> 00:14:56.800 align:start position:0%
the ethereum endgame for those who know
 

00:14:56.800 --> 00:14:59.310 align:start position:0%
the ethereum endgame for those who know
it<00:14:57.120><c> specifically</c><00:14:58.120><c> is</c><00:14:58.240><c> a</c><00:14:58.399><c> slightly</c><00:14:58.720><c> older</c>

00:14:59.310 --> 00:14:59.320 align:start position:0%
it specifically is a slightly older
 

00:14:59.320 --> 00:15:01.069 align:start position:0%
it specifically is a slightly older
probably<00:14:59.639><c> like</c><00:14:59.800><c> somewhat</c><00:15:00.120><c> out</c><00:15:00.279><c> ofd</c><00:15:00.639><c> post</c><00:15:00.920><c> so</c>

00:15:01.069 --> 00:15:01.079 align:start position:0%
probably like somewhat out ofd post so
 

00:15:01.079 --> 00:15:03.189 align:start position:0%
probably like somewhat out ofd post so
I'm<00:15:01.240><c> kind</c><00:15:01.360><c> of</c><00:15:01.519><c> attacking</c><00:15:01.800><c> a</c><00:15:01.920><c> strawman</c><00:15:02.480><c> here</c>

00:15:03.189 --> 00:15:03.199 align:start position:0%
I'm kind of attacking a strawman here
 

00:15:03.199 --> 00:15:05.069 align:start position:0%
I'm kind of attacking a strawman here
basically<00:15:03.600><c> saying</c><00:15:04.000><c> that</c><00:15:04.240><c> like</c><00:15:04.480><c> hey</c><00:15:04.800><c> is</c><00:15:04.880><c> it</c>

00:15:05.069 --> 00:15:05.079 align:start position:0%
basically saying that like hey is it
 

00:15:05.079 --> 00:15:06.749 align:start position:0%
basically saying that like hey is it
really<00:15:05.360><c> that</c><00:15:05.560><c> bad</c><00:15:05.759><c> if</c><00:15:05.880><c> we</c><00:15:06.040><c> have</c><00:15:06.240><c> these</c><00:15:06.519><c> big</c>

00:15:06.749 --> 00:15:06.759 align:start position:0%
really that bad if we have these big
 

00:15:06.759 --> 00:15:08.829 align:start position:0%
really that bad if we have these big
centralized<00:15:07.480><c> machines</c><00:15:08.079><c> doing</c><00:15:08.440><c> things</c>

00:15:08.829 --> 00:15:08.839 align:start position:0%
centralized machines doing things
 

00:15:08.839 --> 00:15:11.150 align:start position:0%
centralized machines doing things
specifically<00:15:09.320><c> for</c><00:15:09.600><c> meev</c><00:15:10.600><c> but</c><00:15:10.720><c> then</c><00:15:10.880><c> we</c><00:15:11.000><c> kind</c>

00:15:11.150 --> 00:15:11.160 align:start position:0%
specifically for meev but then we kind
 

00:15:11.160 --> 00:15:12.670 align:start position:0%
specifically for meev but then we kind
of<00:15:11.320><c> keep</c><00:15:11.519><c> them</c><00:15:11.720><c> honest</c><00:15:12.079><c> with</c><00:15:12.199><c> the</c><00:15:12.320><c> rest</c><00:15:12.440><c> of</c><00:15:12.560><c> the</c>

00:15:12.670 --> 00:15:12.680 align:start position:0%
of keep them honest with the rest of the
 

00:15:12.680 --> 00:15:14.189 align:start position:0%
of keep them honest with the rest of the
network<00:15:13.000><c> we</c><00:15:13.120><c> keep</c><00:15:13.399><c> that</c><00:15:13.600><c> lightweight</c><00:15:14.040><c> and</c>

00:15:14.189 --> 00:15:14.199 align:start position:0%
network we keep that lightweight and
 

00:15:14.199 --> 00:15:16.189 align:start position:0%
network we keep that lightweight and
everything<00:15:15.160><c> I</c><00:15:15.240><c> think</c><00:15:15.399><c> that's</c><00:15:15.560><c> defeatism</c>

00:15:16.189 --> 00:15:16.199 align:start position:0%
everything I think that's defeatism
 

00:15:16.199 --> 00:15:18.069 align:start position:0%
everything I think that's defeatism
personally<00:15:16.800><c> I</c><00:15:16.880><c> think</c><00:15:17.000><c> we</c><00:15:17.120><c> can</c><00:15:17.279><c> decentralize</c>

00:15:18.069 --> 00:15:18.079 align:start position:0%
personally I think we can decentralize
 

00:15:18.079 --> 00:15:20.470 align:start position:0%
personally I think we can decentralize
all<00:15:18.279><c> the</c><00:15:18.480><c> things</c><00:15:19.079><c> and</c><00:15:19.320><c> I</c><00:15:19.440><c> think</c><00:15:20.040><c> as</c><00:15:20.160><c> long</c><00:15:20.360><c> as</c>

00:15:20.470 --> 00:15:20.480 align:start position:0%
all the things and I think as long as
 

00:15:20.480 --> 00:15:22.550 align:start position:0%
all the things and I think as long as
you<00:15:20.639><c> have</c><00:15:20.759><c> a</c><00:15:20.920><c> central</c><00:15:21.399><c> Corridor</c><00:15:21.800><c> of</c><00:15:22.000><c> power</c><00:15:22.399><c> a</c>

00:15:22.550 --> 00:15:22.560 align:start position:0%
you have a central Corridor of power a
 

00:15:22.560 --> 00:15:25.389 align:start position:0%
you have a central Corridor of power a
central<00:15:23.079><c> source</c><00:15:23.519><c> of</c><00:15:23.720><c> concentrated</c><00:15:24.360><c> power</c><00:15:25.160><c> any</c>

00:15:25.389 --> 00:15:25.399 align:start position:0%
central source of concentrated power any
 

00:15:25.399 --> 00:15:27.829 align:start position:0%
central source of concentrated power any
sort<00:15:25.600><c> of</c><00:15:26.079><c> system</c><00:15:26.440><c> on</c><00:15:26.720><c> top</c><00:15:27.040><c> is</c><00:15:27.199><c> not</c><00:15:27.399><c> going</c><00:15:27.600><c> to</c><00:15:27.720><c> be</c>

00:15:27.829 --> 00:15:27.839 align:start position:0%
sort of system on top is not going to be
 

00:15:27.839 --> 00:15:29.829 align:start position:0%
sort of system on top is not going to be
able<00:15:28.040><c> to</c><00:15:28.160><c> meaningfully</c><00:15:28.600><c> police</c><00:15:29.199><c> or</c><00:15:29.440><c> control</c>

00:15:29.829 --> 00:15:29.839 align:start position:0%
able to meaningfully police or control
 

00:15:29.839 --> 00:15:31.590 align:start position:0%
able to meaningfully police or control
it<00:15:30.560><c> uh</c><00:15:30.680><c> so</c><00:15:30.839><c> we</c><00:15:30.959><c> need</c><00:15:31.120><c> to</c><00:15:31.319><c> actually</c>

00:15:31.590 --> 00:15:31.600 align:start position:0%
it uh so we need to actually
 

00:15:31.600 --> 00:15:33.470 align:start position:0%
it uh so we need to actually
decentralize<00:15:32.399><c> all</c><00:15:32.519><c> the</c><00:15:32.680><c> things</c><00:15:32.920><c> that</c><00:15:33.079><c> require</c>

00:15:33.470 --> 00:15:33.480 align:start position:0%
decentralize all the things that require
 

00:15:33.480 --> 00:15:35.350 align:start position:0%
decentralize all the things that require
the<00:15:33.600><c> big</c><00:15:33.759><c> machines</c><00:15:34.360><c> as</c>

00:15:35.350 --> 00:15:35.360 align:start position:0%
the big machines as
 

00:15:35.360 --> 00:15:37.949 align:start position:0%
the big machines as
well<00:15:36.360><c> um</c><00:15:36.680><c> doing</c><00:15:36.959><c> a</c><00:15:37.040><c> deeper</c><00:15:37.319><c> dive</c><00:15:37.519><c> into</c><00:15:37.800><c> how</c>

00:15:37.949 --> 00:15:37.959 align:start position:0%
well um doing a deeper dive into how
 

00:15:37.959 --> 00:15:41.069 align:start position:0%
well um doing a deeper dive into how
this<00:15:38.160><c> relates</c><00:15:38.600><c> to</c><00:15:38.880><c> censorship</c><00:15:39.560><c> resistance</c><00:15:40.560><c> um</c>

00:15:41.069 --> 00:15:41.079 align:start position:0%
this relates to censorship resistance um
 

00:15:41.079 --> 00:15:43.189 align:start position:0%
this relates to censorship resistance um
so<00:15:41.920><c> censorship</c><00:15:42.440><c> resistance</c><00:15:42.800><c> is</c><00:15:42.880><c> a</c><00:15:43.000><c> very</c>

00:15:43.189 --> 00:15:43.199 align:start position:0%
so censorship resistance is a very
 

00:15:43.199 --> 00:15:45.189 align:start position:0%
so censorship resistance is a very
interesting<00:15:43.759><c> topic</c><00:15:44.240><c> traditionally</c><00:15:44.839><c> in</c><00:15:45.000><c> the</c>

00:15:45.189 --> 00:15:45.199 align:start position:0%
interesting topic traditionally in the
 

00:15:45.199 --> 00:15:47.509 align:start position:0%
interesting topic traditionally in the
academic<00:15:45.720><c> space</c><00:15:46.199><c> it</c><00:15:46.360><c> says</c><00:15:46.759><c> that</c><00:15:47.240><c> if</c><00:15:47.360><c> you</c>

00:15:47.509 --> 00:15:47.519 align:start position:0%
academic space it says that if you
 

00:15:47.519 --> 00:15:49.590 align:start position:0%
academic space it says that if you
create<00:15:47.759><c> a</c><00:15:47.920><c> transaction</c><00:15:48.560><c> that</c><00:15:48.920><c> assume</c><00:15:49.279><c> you</c><00:15:49.440><c> pay</c>

00:15:49.590 --> 00:15:49.600 align:start position:0%
create a transaction that assume you pay
 

00:15:49.600 --> 00:15:51.629 align:start position:0%
create a transaction that assume you pay
the<00:15:49.720><c> fees</c><00:15:50.319><c> you'll</c><00:15:50.519><c> be</c><00:15:50.720><c> included</c><00:15:51.160><c> within</c><00:15:51.440><c> some</c>

00:15:51.629 --> 00:15:51.639 align:start position:0%
the fees you'll be included within some
 

00:15:51.639 --> 00:15:53.309 align:start position:0%
the fees you'll be included within some
number<00:15:51.880><c> of</c><00:15:52.040><c> blocks</c><00:15:52.480><c> that</c><00:15:52.600><c> number</c><00:15:52.800><c> is</c><00:15:53.040><c> called</c>

00:15:53.309 --> 00:15:53.319 align:start position:0%
number of blocks that number is called
 

00:15:53.319 --> 00:15:54.710 align:start position:0%
number of blocks that number is called
Delta<00:15:53.759><c> it's</c><00:15:53.920><c> called</c><00:15:54.079><c> the</c><00:15:54.240><c> censorship</c>

00:15:54.710 --> 00:15:54.720 align:start position:0%
Delta it's called the censorship
 

00:15:54.720 --> 00:15:58.030 align:start position:0%
Delta it's called the censorship
resistance<00:15:55.079><c> or</c><00:15:55.199><c> synchrony</c><00:15:56.120><c> parameter</c><00:15:57.120><c> um</c><00:15:57.600><c> so</c>

00:15:58.030 --> 00:15:58.040 align:start position:0%
resistance or synchrony parameter um so
 

00:15:58.040 --> 00:15:59.829 align:start position:0%
resistance or synchrony parameter um so
one<00:15:58.279><c> question</c><00:15:58.560><c> I</c><00:15:58.680><c> have</c><00:15:59.000><c> for</c><00:15:59.079><c> us</c><00:15:59.240><c> as</c><00:15:59.319><c> a</c><00:15:59.440><c> protocol</c>

00:15:59.829 --> 00:15:59.839 align:start position:0%
one question I have for us as a protocol
 

00:15:59.839 --> 00:16:01.870 align:start position:0%
one question I have for us as a protocol
is<00:16:00.040><c> what</c><00:16:00.199><c> Delta</c><00:16:00.600><c> do</c><00:16:00.720><c> we</c><00:16:00.920><c> actually</c><00:16:01.199><c> need</c><00:16:01.680><c> and</c>

00:16:01.870 --> 00:16:01.880 align:start position:0%
is what Delta do we actually need and
 

00:16:01.880 --> 00:16:05.030 align:start position:0%
is what Delta do we actually need and
how<00:16:02.040><c> do</c><00:16:02.199><c> we</c><00:16:02.560><c> VA</c><00:16:02.880><c> value</c><00:16:03.759><c> various</c><00:16:04.199><c> Deltas</c><00:16:04.759><c> in</c><00:16:04.880><c> the</c>

00:16:05.030 --> 00:16:05.040 align:start position:0%
how do we VA value various Deltas in the
 

00:16:05.040 --> 00:16:07.150 align:start position:0%
how do we VA value various Deltas in the
protocol<00:16:05.959><c> against</c><00:16:06.319><c> other</c><00:16:06.560><c> properties</c><00:16:07.040><c> we</c>

00:16:07.150 --> 00:16:07.160 align:start position:0%
protocol against other properties we
 

00:16:07.160 --> 00:16:09.430 align:start position:0%
protocol against other properties we
care<00:16:07.360><c> about</c><00:16:07.639><c> like</c><00:16:07.880><c> power</c><00:16:08.279><c> distribution</c><00:16:09.279><c> kind</c>

00:16:09.430 --> 00:16:09.440 align:start position:0%
care about like power distribution kind
 

00:16:09.440 --> 00:16:12.790 align:start position:0%
care about like power distribution kind
of<00:16:09.759><c> uh</c><00:16:09.920><c> Geographic</c><00:16:10.560><c> decentralization</c><00:16:11.639><c> Etc</c><00:16:12.639><c> uh</c>

00:16:12.790 --> 00:16:12.800 align:start position:0%
of uh Geographic decentralization Etc uh
 

00:16:12.800 --> 00:16:14.550 align:start position:0%
of uh Geographic decentralization Etc uh
because<00:16:13.120><c> as</c><00:16:13.199><c> you</c><00:16:13.360><c> push</c><00:16:13.600><c> Delta</c><00:16:13.920><c> to</c><00:16:14.079><c> zero</c><00:16:14.399><c> you</c>

00:16:14.550 --> 00:16:14.560 align:start position:0%
because as you push Delta to zero you
 

00:16:14.560 --> 00:16:16.870 align:start position:0%
because as you push Delta to zero you
actually<00:16:15.000><c> get</c><00:16:15.199><c> Fair</c><00:16:15.440><c> ordering</c><00:16:16.079><c> out</c><00:16:16.240><c> of</c><00:16:16.519><c> the</c>

00:16:16.870 --> 00:16:16.880 align:start position:0%
actually get Fair ordering out of the
 

00:16:16.880 --> 00:16:18.590 align:start position:0%
actually get Fair ordering out of the
the<00:16:17.000><c> censorship</c><00:16:17.519><c> resistance</c><00:16:18.000><c> definition</c>

00:16:18.590 --> 00:16:18.600 align:start position:0%
the censorship resistance definition
 

00:16:18.600 --> 00:16:20.430 align:start position:0%
the censorship resistance definition
right<00:16:19.000><c> if</c><00:16:19.120><c> you</c><00:16:19.279><c> need</c><00:16:19.480><c> to</c><00:16:19.639><c> be</c><00:16:19.800><c> included</c>

00:16:20.430 --> 00:16:20.440 align:start position:0%
right if you need to be included
 

00:16:20.440 --> 00:16:22.189 align:start position:0%
right if you need to be included
immediately<00:16:21.120><c> as</c><00:16:21.240><c> soon</c><00:16:21.399><c> as</c><00:16:21.519><c> your</c><00:16:21.680><c> transaction</c>

00:16:22.189 --> 00:16:22.199 align:start position:0%
immediately as soon as your transaction
 

00:16:22.199 --> 00:16:24.430 align:start position:0%
immediately as soon as your transaction
is<00:16:22.360><c> sent</c><00:16:23.279><c> well</c><00:16:23.480><c> what</c><00:16:23.600><c> does</c><00:16:23.759><c> that</c><00:16:23.880><c> mean</c><00:16:24.079><c> for</c><00:16:24.279><c> the</c>

00:16:24.430 --> 00:16:24.440 align:start position:0%
is sent well what does that mean for the
 

00:16:24.440 --> 00:16:25.790 align:start position:0%
is sent well what does that mean for the
person<00:16:24.720><c> that's</c><00:16:24.920><c> on</c><00:16:25.040><c> the</c><00:16:25.199><c> other</c><00:16:25.440><c> side</c><00:16:25.600><c> of</c><00:16:25.680><c> the</c>

00:16:25.790 --> 00:16:25.800 align:start position:0%
person that's on the other side of the
 

00:16:25.800 --> 00:16:28.069 align:start position:0%
person that's on the other side of the
world<00:16:26.199><c> how</c><00:16:26.360><c> does</c><00:16:26.519><c> that</c><00:16:26.720><c> stack</c><00:16:26.959><c> up</c><00:16:27.160><c> with</c><00:16:27.319><c> them</c>

00:16:28.069 --> 00:16:28.079 align:start position:0%
world how does that stack up with them
 

00:16:28.079 --> 00:16:30.030 align:start position:0%
world how does that stack up with them
what<00:16:28.199><c> if</c><00:16:28.319><c> your</c><00:16:28.519><c> Delta</c><00:16:29.000><c> is</c><00:16:29.160><c> below</c><00:16:29.440><c> the</c><00:16:29.560><c> network</c>

00:16:30.030 --> 00:16:30.040 align:start position:0%
what if your Delta is below the network
 

00:16:30.040 --> 00:16:31.590 align:start position:0%
what if your Delta is below the network
limit<00:16:30.440><c> how</c><00:16:30.560><c> does</c><00:16:30.759><c> that</c><00:16:30.959><c> then</c><00:16:31.120><c> get</c><00:16:31.240><c> resolved</c>

00:16:31.590 --> 00:16:31.600 align:start position:0%
limit how does that then get resolved
 

00:16:31.600 --> 00:16:33.949 align:start position:0%
limit how does that then get resolved
into<00:16:31.800><c> the</c><00:16:31.959><c> protocol</c><00:16:32.959><c> how</c><00:16:33.079><c> do</c><00:16:33.240><c> we</c><00:16:33.440><c> weigh</c>

00:16:33.949 --> 00:16:33.959 align:start position:0%
into the protocol how do we weigh
 

00:16:33.959 --> 00:16:35.990 align:start position:0%
into the protocol how do we weigh
collapsing<00:16:34.519><c> these</c><00:16:34.680><c> tradeoffs</c><00:16:35.360><c> against</c><00:16:35.720><c> other</c>

00:16:35.990 --> 00:16:36.000 align:start position:0%
collapsing these tradeoffs against other
 

00:16:36.000 --> 00:16:37.829 align:start position:0%
collapsing these tradeoffs against other
centralizing<00:16:36.639><c> effects</c><00:16:37.000><c> we</c><00:16:37.120><c> can</c><00:16:37.319><c> create</c><00:16:37.720><c> in</c>

00:16:37.829 --> 00:16:37.839 align:start position:0%
centralizing effects we can create in
 

00:16:37.839 --> 00:16:40.350 align:start position:0%
centralizing effects we can create in
the<00:16:37.959><c> meev</c><00:16:38.480><c> space</c><00:16:39.160><c> that</c><00:16:39.319><c> maybe</c><00:16:39.639><c> help</c><00:16:39.839><c> us</c><00:16:40.040><c> build</c>

00:16:40.350 --> 00:16:40.360 align:start position:0%
the meev space that maybe help us build
 

00:16:40.360 --> 00:16:43.069 align:start position:0%
the meev space that maybe help us build
this<00:16:40.600><c> robust</c><00:16:41.240><c> geopolitical</c><00:16:42.040><c> base</c><00:16:42.800><c> and</c>

00:16:43.069 --> 00:16:43.079 align:start position:0%
this robust geopolitical base and
 

00:16:43.079 --> 00:16:44.590 align:start position:0%
this robust geopolitical base and
actually<00:16:43.360><c> allow</c><00:16:43.639><c> us</c><00:16:43.800><c> to</c><00:16:43.959><c> push</c><00:16:44.199><c> power</c><00:16:44.440><c> back</c>

00:16:44.590 --> 00:16:44.600 align:start position:0%
actually allow us to push power back
 

00:16:44.600 --> 00:16:46.590 align:start position:0%
actually allow us to push power back
into<00:16:44.880><c> the</c><00:16:44.959><c> edges</c><00:16:45.759><c> so</c><00:16:45.959><c> I</c><00:16:46.040><c> think</c><00:16:46.199><c> the</c><00:16:46.360><c> most</c>

00:16:46.590 --> 00:16:46.600 align:start position:0%
into the edges so I think the most
 

00:16:46.600 --> 00:16:48.150 align:start position:0%
into the edges so I think the most
dangerous<00:16:47.000><c> thing</c><00:16:47.160><c> the</c><00:16:47.319><c> space</c><00:16:47.600><c> can</c><00:16:47.759><c> do</c><00:16:48.000><c> right</c>

00:16:48.150 --> 00:16:48.160 align:start position:0%
dangerous thing the space can do right
 

00:16:48.160 --> 00:16:51.110 align:start position:0%
dangerous thing the space can do right
now<00:16:48.519><c> is</c><00:16:48.720><c> essentially</c><00:16:49.199><c> fetishize</c><00:16:50.120><c> and</c><00:16:50.319><c> Chase</c>

00:16:51.110 --> 00:16:51.120 align:start position:0%
now is essentially fetishize and Chase
 

00:16:51.120 --> 00:16:53.309 align:start position:0%
now is essentially fetishize and Chase
one<00:16:51.399><c> block</c><00:16:51.720><c> censorship</c><00:16:52.279><c> resistance</c><00:16:53.000><c> at</c><00:16:53.120><c> the</c>

00:16:53.309 --> 00:16:53.319 align:start position:0%
one block censorship resistance at the
 

00:16:53.319 --> 00:16:55.749 align:start position:0%
one block censorship resistance at the
expense<00:16:53.839><c> of</c><00:16:54.000><c> all</c><00:16:54.120><c> of</c><00:16:54.279><c> the</c><00:16:54.440><c> core</c><00:16:54.839><c> properties</c>

00:16:55.749 --> 00:16:55.759 align:start position:0%
expense of all of the core properties
 

00:16:55.759 --> 00:16:57.629 align:start position:0%
expense of all of the core properties
that<00:16:55.880><c> will</c><00:16:56.160><c> actually</c><00:16:56.519><c> provide</c><00:16:56.920><c> geopolitical</c>

00:16:57.629 --> 00:16:57.639 align:start position:0%
that will actually provide geopolitical
 

00:16:57.639 --> 00:16:59.949 align:start position:0%
that will actually provide geopolitical
robustness<00:16:58.279><c> and</c><00:16:58.399><c> censorship</c><00:16:59.079><c> resistance</c><00:16:59.680><c> in</c>

00:16:59.949 --> 00:16:59.959 align:start position:0%
robustness and censorship resistance in
 

00:16:59.959 --> 00:17:02.150 align:start position:0%
robustness and censorship resistance in
the<00:17:00.120><c> long</c><00:17:00.360><c> term</c><00:17:01.160><c> I</c><00:17:01.240><c> think</c><00:17:01.399><c> we</c><00:17:01.560><c> haven't</c><00:17:01.880><c> had</c><00:17:02.000><c> a</c>

00:17:02.150 --> 00:17:02.160 align:start position:0%
the long term I think we haven't had a
 

00:17:02.160 --> 00:17:04.110 align:start position:0%
the long term I think we haven't had a
conversation<00:17:03.079><c> in</c><00:17:03.199><c> the</c><00:17:03.319><c> community</c><00:17:03.800><c> about</c><00:17:04.000><c> how</c>

00:17:04.110 --> 00:17:04.120 align:start position:0%
conversation in the community about how
 

00:17:04.120 --> 00:17:06.590 align:start position:0%
conversation in the community about how
to<00:17:04.280><c> weigh</c><00:17:04.520><c> those</c><00:17:04.720><c> two</c><00:17:04.880><c> things</c><00:17:05.319><c> together</c><00:17:06.319><c> uh</c><00:17:06.400><c> so</c>

00:17:06.590 --> 00:17:06.600 align:start position:0%
to weigh those two things together uh so
 

00:17:06.600 --> 00:17:08.710 align:start position:0%
to weigh those two things together uh so
let's<00:17:06.880><c> do</c><00:17:07.039><c> that</c><00:17:07.280><c> please</c><00:17:07.919><c> before</c><00:17:08.199><c> we</c><00:17:08.319><c> start</c>

00:17:08.710 --> 00:17:08.720 align:start position:0%
let's do that please before we start
 

00:17:08.720 --> 00:17:11.390 align:start position:0%
let's do that please before we start
yoloing<00:17:09.240><c> protocol</c><00:17:09.760><c> updates</c><00:17:10.760><c> uh</c><00:17:10.880><c> and</c><00:17:11.039><c> let's</c><00:17:11.240><c> do</c>

00:17:11.390 --> 00:17:11.400 align:start position:0%
yoloing protocol updates uh and let's do
 

00:17:11.400 --> 00:17:12.909 align:start position:0%
yoloing protocol updates uh and let's do
that<00:17:11.520><c> in</c><00:17:11.640><c> a</c><00:17:11.760><c> way</c><00:17:11.959><c> that</c><00:17:12.120><c> addresses</c><00:17:12.679><c> this</c>

00:17:12.909 --> 00:17:12.919 align:start position:0%
that in a way that addresses this
 

00:17:12.919 --> 00:17:15.470 align:start position:0%
that in a way that addresses this
approach<00:17:13.640><c> to</c><00:17:14.079><c> to</c><00:17:14.240><c> censoring</c><00:17:14.720><c> our</c>

00:17:15.470 --> 00:17:15.480 align:start position:0%
approach to to censoring our
 

00:17:15.480 --> 00:17:18.270 align:start position:0%
approach to to censoring our
networks<00:17:16.559><c> um</c><00:17:17.559><c> so</c><00:17:17.760><c> what</c><00:17:17.880><c> we</c><00:17:17.959><c> need</c><00:17:18.079><c> for</c>

00:17:18.270 --> 00:17:18.280 align:start position:0%
networks um so what we need for
 

00:17:18.280 --> 00:17:19.909 align:start position:0%
networks um so what we need for
decentralization<00:17:19.000><c> is</c><00:17:19.160><c> real</c><00:17:19.480><c> Global</c>

00:17:19.909 --> 00:17:19.919 align:start position:0%
decentralization is real Global
 

00:17:19.919 --> 00:17:21.429 align:start position:0%
decentralization is real Global
meaningful<00:17:20.439><c> distribution</c><00:17:20.880><c> of</c><00:17:21.039><c> power</c><00:17:21.319><c> that</c>

00:17:21.429 --> 00:17:21.439 align:start position:0%
meaningful distribution of power that
 

00:17:21.439 --> 00:17:24.029 align:start position:0%
meaningful distribution of power that
sounds<00:17:21.720><c> great</c><00:17:22.079><c> Phil</c><00:17:23.079><c> but</c><00:17:23.400><c> we</c><00:17:23.559><c> all</c><00:17:23.720><c> know</c>

00:17:24.029 --> 00:17:24.039 align:start position:0%
sounds great Phil but we all know
 

00:17:24.039 --> 00:17:25.510 align:start position:0%
sounds great Phil but we all know
there's<00:17:24.319><c> certain</c><00:17:24.640><c> things</c><00:17:24.919><c> standing</c><00:17:25.280><c> in</c><00:17:25.400><c> the</c>

00:17:25.510 --> 00:17:25.520 align:start position:0%
there's certain things standing in the
 

00:17:25.520 --> 00:17:28.110 align:start position:0%
there's certain things standing in the
way<00:17:25.720><c> of</c><00:17:25.919><c> that</c><00:17:26.600><c> um</c><00:17:26.919><c> so</c><00:17:27.160><c> the</c><00:17:27.319><c> first</c><00:17:27.520><c> one</c><00:17:27.760><c> is</c><00:17:27.959><c> what</c>

00:17:28.110 --> 00:17:28.120 align:start position:0%
way of that um so the first one is what
 

00:17:28.120 --> 00:17:30.909 align:start position:0%
way of that um so the first one is what
I<00:17:28.240><c> call</c><00:17:28.439><c> ux</c><00:17:28.960><c> fenel</c><00:17:29.960><c> this</c><00:17:30.039><c> is</c><00:17:30.160><c> a</c><00:17:30.360><c> web</c><00:17:30.559><c> 2</c>

00:17:30.909 --> 00:17:30.919 align:start position:0%
I call ux fenel this is a web 2
 

00:17:30.919 --> 00:17:32.789 align:start position:0%
I call ux fenel this is a web 2
mentality<00:17:31.640><c> that</c><00:17:31.720><c> you</c><00:17:31.840><c> need</c><00:17:32.000><c> to</c><00:17:32.200><c> make</c><00:17:32.400><c> things</c>

00:17:32.789 --> 00:17:32.799 align:start position:0%
mentality that you need to make things
 

00:17:32.799 --> 00:17:35.270 align:start position:0%
mentality that you need to make things
faster<00:17:33.320><c> and</c><00:17:33.480><c> more</c><00:17:33.720><c> addictive</c><00:17:34.160><c> for</c><00:17:34.360><c> your</c><00:17:34.520><c> users</c>

00:17:35.270 --> 00:17:35.280 align:start position:0%
faster and more addictive for your users
 

00:17:35.280 --> 00:17:37.070 align:start position:0%
faster and more addictive for your users
if<00:17:35.400><c> your</c><00:17:35.559><c> users</c><00:17:35.919><c> aren't</c><00:17:36.240><c> addicted</c><00:17:36.760><c> if</c><00:17:36.919><c> they're</c>

00:17:37.070 --> 00:17:37.080 align:start position:0%
if your users aren't addicted if they're
 

00:17:37.080 --> 00:17:38.549 align:start position:0%
if your users aren't addicted if they're
not<00:17:37.240><c> running</c><00:17:37.559><c> on</c><00:17:37.679><c> your</c><00:17:37.840><c> treadmill</c><00:17:38.280><c> if</c><00:17:38.400><c> they're</c>

00:17:38.549 --> 00:17:38.559 align:start position:0%
not running on your treadmill if they're
 

00:17:38.559 --> 00:17:40.470 align:start position:0%
not running on your treadmill if they're
not<00:17:38.720><c> generating</c><00:17:39.280><c> returns</c><00:17:39.600><c> you</c><00:17:39.799><c> failed</c><00:17:40.320><c> you're</c>

00:17:40.470 --> 00:17:40.480 align:start position:0%
not generating returns you failed you're
 

00:17:40.480 --> 00:17:43.190 align:start position:0%
not generating returns you failed you're
a<00:17:40.679><c> bad</c><00:17:40.919><c> person</c><00:17:41.200><c> you're</c><00:17:41.360><c> a</c><00:17:41.559><c> bad</c><00:17:41.880><c> founder</c><00:17:42.880><c> no</c>

00:17:43.190 --> 00:17:43.200 align:start position:0%
a bad person you're a bad founder no
 

00:17:43.200 --> 00:17:44.590 align:start position:0%
a bad person you're a bad founder no
that's<00:17:43.400><c> not</c><00:17:43.559><c> the</c><00:17:43.640><c> way</c><00:17:43.760><c> we</c><00:17:43.880><c> build</c><00:17:44.160><c> web</c><00:17:44.360><c> 3</c>

00:17:44.590 --> 00:17:44.600 align:start position:0%
that's not the way we build web 3
 

00:17:44.600 --> 00:17:46.789 align:start position:0%
that's not the way we build web 3
applications<00:17:45.160><c> I'm</c><00:17:45.320><c> sorry</c><00:17:46.160><c> uh</c><00:17:46.360><c> right</c><00:17:46.559><c> if</c><00:17:46.640><c> you</c>

00:17:46.789 --> 00:17:46.799 align:start position:0%
applications I'm sorry uh right if you
 

00:17:46.799 --> 00:17:49.430 align:start position:0%
applications I'm sorry uh right if you
chase<00:17:47.120><c> ux</c><00:17:47.520><c> fenel</c><00:17:48.039><c> you</c><00:17:48.160><c> chase</c><00:17:48.440><c> the</c><00:17:48.600><c> dragon</c><00:17:49.200><c> over</c>

00:17:49.430 --> 00:17:49.440 align:start position:0%
chase ux fenel you chase the dragon over
 

00:17:49.440 --> 00:17:51.549 align:start position:0%
chase ux fenel you chase the dragon over
and<00:17:49.600><c> over</c><00:17:49.840><c> and</c><00:17:50.000><c> over</c><00:17:50.240><c> again</c><00:17:50.400><c> to</c><00:17:50.559><c> the</c><00:17:50.640><c> end</c><00:17:50.919><c> State</c>

00:17:51.549 --> 00:17:51.559 align:start position:0%
and over and over again to the end State
 

00:17:51.559 --> 00:17:53.470 align:start position:0%
and over and over again to the end State
well<00:17:51.799><c> now</c><00:17:51.919><c> you</c><00:17:52.039><c> need</c><00:17:52.280><c> 50</c><00:17:52.559><c> millisecs</c><00:17:53.240><c> now</c><00:17:53.360><c> you</c>

00:17:53.470 --> 00:17:53.480 align:start position:0%
well now you need 50 millisecs now you
 

00:17:53.480 --> 00:17:55.190 align:start position:0%
well now you need 50 millisecs now you
need<00:17:53.640><c> 10</c><00:17:53.880><c> milliseconds</c><00:17:54.520><c> now</c><00:17:54.679><c> the</c><00:17:54.799><c> mind</c><00:17:55.039><c> can</c>

00:17:55.190 --> 00:17:55.200 align:start position:0%
need 10 milliseconds now the mind can
 

00:17:55.200 --> 00:17:57.510 align:start position:0%
need 10 milliseconds now the mind can
perceive<00:17:55.640><c> 5</c><00:17:55.840><c> milliseconds</c><00:17:56.760><c> we've</c><00:17:57.000><c> gone</c><00:17:57.280><c> down</c>

00:17:57.510 --> 00:17:57.520 align:start position:0%
perceive 5 milliseconds we've gone down
 

00:17:57.520 --> 00:17:59.310 align:start position:0%
perceive 5 milliseconds we've gone down
that<00:17:57.720><c> path</c><00:17:57.880><c> in</c><00:17:58.039><c> web</c><00:17:58.280><c> 2</c><00:17:58.600><c> and</c><00:17:58.679><c> we</c><00:17:58.840><c> We've</c><00:17:58.960><c> Ended</c><00:17:59.200><c> up</c>

00:17:59.310 --> 00:17:59.320 align:start position:0%
that path in web 2 and we We've Ended up
 

00:17:59.320 --> 00:18:01.310 align:start position:0%
that path in web 2 and we We've Ended up
with<00:17:59.480><c> users</c><00:18:00.120><c> that</c><00:18:00.520><c> can't</c><00:18:00.760><c> meaningfully</c>

00:18:01.310 --> 00:18:01.320 align:start position:0%
with users that can't meaningfully
 

00:18:01.320 --> 00:18:03.149 align:start position:0%
with users that can't meaningfully
interact<00:18:01.679><c> with</c><00:18:01.799><c> the</c><00:18:01.960><c> technology</c><00:18:02.880><c> these</c>

00:18:03.149 --> 00:18:03.159 align:start position:0%
interact with the technology these
 

00:18:03.159 --> 00:18:05.110 align:start position:0%
interact with the technology these
zombies<00:18:03.679><c> that</c><00:18:03.799><c> just</c><00:18:03.960><c> are</c><00:18:04.280><c> kind</c><00:18:04.400><c> of</c><00:18:04.559><c> fed</c><00:18:04.919><c> these</c>

00:18:05.110 --> 00:18:05.120 align:start position:0%
zombies that just are kind of fed these
 

00:18:05.120 --> 00:18:07.230 align:start position:0%
zombies that just are kind of fed these
inputs<00:18:05.679><c> right</c><00:18:06.159><c> how</c><00:18:06.280><c> many</c><00:18:06.520><c> people</c><00:18:06.799><c> like</c><00:18:07.039><c> that</c>

00:18:07.230 --> 00:18:07.240 align:start position:0%
inputs right how many people like that
 

00:18:07.240 --> 00:18:09.549 align:start position:0%
inputs right how many people like that
here<00:18:07.480><c> nobody</c><00:18:07.880><c> likes</c><00:18:08.120><c> it</c><00:18:08.400><c> right</c><00:18:08.799><c> so</c><00:18:09.000><c> let's</c><00:18:09.240><c> stop</c>

00:18:09.549 --> 00:18:09.559 align:start position:0%
here nobody likes it right so let's stop
 

00:18:09.559 --> 00:18:14.430 align:start position:0%
here nobody likes it right so let's stop
that<00:18:09.960><c> in</c><00:18:10.120><c> web</c><00:18:10.360><c> 3</c><00:18:10.679><c> please</c><00:18:11.440><c> enough</c><00:18:12.440><c> um</c><00:18:13.400><c> yeah</c>

00:18:14.430 --> 00:18:14.440 align:start position:0%
that in web 3 please enough um yeah
 

00:18:14.440 --> 00:18:16.870 align:start position:0%
that in web 3 please enough um yeah
seriously<00:18:15.440><c> another</c><00:18:15.760><c> one</c><00:18:16.280><c> I</c><00:18:16.360><c> want</c><00:18:16.480><c> to</c><00:18:16.679><c> talk</c>

00:18:16.870 --> 00:18:16.880 align:start position:0%
seriously another one I want to talk
 

00:18:16.880 --> 00:18:18.510 align:start position:0%
seriously another one I want to talk
about<00:18:17.400><c> and</c><00:18:17.559><c> this</c><00:18:17.640><c> is</c><00:18:17.760><c> a</c><00:18:17.840><c> little</c><00:18:18.000><c> bit</c><00:18:18.159><c> mean</c><00:18:18.400><c> to</c>

00:18:18.510 --> 00:18:18.520 align:start position:0%
about and this is a little bit mean to
 

00:18:18.520 --> 00:18:19.909 align:start position:0%
about and this is a little bit mean to
the<00:18:18.640><c> EF</c><00:18:18.960><c> so</c><00:18:19.080><c> I</c><00:18:19.159><c> feel</c><00:18:19.320><c> a</c><00:18:19.440><c> little</c><00:18:19.600><c> bit</c><00:18:19.760><c> bad</c>

00:18:19.909 --> 00:18:19.919 align:start position:0%
the EF so I feel a little bit bad
 

00:18:19.919 --> 00:18:21.750 align:start position:0%
the EF so I feel a little bit bad
whenever<00:18:20.159><c> I</c><00:18:20.280><c> talk</c><00:18:20.480><c> about</c><00:18:20.679><c> this</c><00:18:20.880><c> but</c><00:18:21.280><c> napkin</c>

00:18:21.750 --> 00:18:21.760 align:start position:0%
whenever I talk about this but napkin
 

00:18:21.760 --> 00:18:23.750 align:start position:0%
whenever I talk about this but napkin
research<00:18:22.600><c> um</c><00:18:22.799><c> and</c><00:18:22.960><c> I</c><00:18:23.039><c> tried</c><00:18:23.280><c> to</c><00:18:23.400><c> choose</c><00:18:23.600><c> a</c>

00:18:23.750 --> 00:18:23.760 align:start position:0%
research um and I tried to choose a
 

00:18:23.760 --> 00:18:25.750 align:start position:0%
research um and I tried to choose a
slightly<00:18:24.120><c> fancier</c><00:18:24.520><c> napkin</c><00:18:24.960><c> this</c><00:18:25.159><c> time</c>

00:18:25.750 --> 00:18:25.760 align:start position:0%
slightly fancier napkin this time
 

00:18:25.760 --> 00:18:27.590 align:start position:0%
slightly fancier napkin this time
instead<00:18:26.039><c> of</c><00:18:26.280><c> like</c><00:18:26.400><c> a</c><00:18:26.600><c> like</c><00:18:26.679><c> a</c><00:18:26.799><c> dirty</c><00:18:27.080><c> napkin</c><00:18:27.440><c> or</c>

00:18:27.590 --> 00:18:27.600 align:start position:0%
instead of like a like a dirty napkin or
 

00:18:27.600 --> 00:18:29.510 align:start position:0%
instead of like a like a dirty napkin or
something<00:18:28.240><c> but</c><00:18:28.360><c> I</c><00:18:28.440><c> think</c><00:18:28.880><c> do</c><00:18:29.000><c> a</c><00:18:29.120><c> lot</c><00:18:29.240><c> of</c><00:18:29.320><c> our</c>

00:18:29.510 --> 00:18:29.520 align:start position:0%
something but I think do a lot of our
 

00:18:29.520 --> 00:18:31.750 align:start position:0%
something but I think do a lot of our
research<00:18:29.960><c> discussions</c><00:18:30.559><c> very</c><00:18:30.880><c> informally</c><00:18:31.559><c> and</c>

00:18:31.750 --> 00:18:31.760 align:start position:0%
research discussions very informally and
 

00:18:31.760 --> 00:18:33.789 align:start position:0%
research discussions very informally and
without<00:18:32.080><c> even</c><00:18:32.440><c> having</c><00:18:32.799><c> deep</c><00:18:33.080><c> conversations</c>

00:18:33.789 --> 00:18:33.799 align:start position:0%
without even having deep conversations
 

00:18:33.799 --> 00:18:35.950 align:start position:0%
without even having deep conversations
about<00:18:34.400><c> what</c><00:18:34.559><c> are</c><00:18:34.880><c> principles</c><00:18:35.559><c> what</c><00:18:35.720><c> does</c>

00:18:35.950 --> 00:18:35.960 align:start position:0%
about what are principles what does
 

00:18:35.960 --> 00:18:37.950 align:start position:0%
about what are principles what does
censorship<00:18:36.480><c> resistance</c><00:18:36.960><c> mean</c><00:18:37.159><c> to</c><00:18:37.400><c> us</c><00:18:37.840><c> what</c>

00:18:37.950 --> 00:18:37.960 align:start position:0%
censorship resistance mean to us what
 

00:18:37.960 --> 00:18:39.669 align:start position:0%
censorship resistance mean to us what
does<00:18:38.159><c> this</c><00:18:38.320><c> protocol</c><00:18:38.760><c> change</c><00:18:39.080><c> mean</c><00:18:39.440><c> how</c><00:18:39.559><c> do</c>

00:18:39.669 --> 00:18:39.679 align:start position:0%
does this protocol change mean how do
 

00:18:39.679 --> 00:18:41.830 align:start position:0%
does this protocol change mean how do
you<00:18:39.919><c> define</c><00:18:40.240><c> it</c><00:18:40.880><c> I</c><00:18:40.960><c> think</c><00:18:41.120><c> we</c><00:18:41.240><c> can</c><00:18:41.360><c> do</c><00:18:41.559><c> a</c><00:18:41.679><c> lot</c>

00:18:41.830 --> 00:18:41.840 align:start position:0%
you define it I think we can do a lot
 

00:18:41.840 --> 00:18:43.510 align:start position:0%
you define it I think we can do a lot
more<00:18:42.159><c> I've</c><00:18:42.320><c> written</c><00:18:42.520><c> a</c><00:18:42.640><c> blog</c><00:18:42.960><c> post</c><00:18:43.200><c> about</c><00:18:43.400><c> a</c>

00:18:43.510 --> 00:18:43.520 align:start position:0%
more I've written a blog post about a
 

00:18:43.520 --> 00:18:45.549 align:start position:0%
more I've written a blog post about a
few<00:18:43.720><c> ideas</c><00:18:44.120><c> I</c><00:18:44.280><c> have</c><00:18:44.480><c> but</c><00:18:44.640><c> I'd</c><00:18:44.840><c> love</c><00:18:45.039><c> to</c><00:18:45.200><c> talk</c><00:18:45.360><c> to</c>

00:18:45.549 --> 00:18:45.559 align:start position:0%
few ideas I have but I'd love to talk to
 

00:18:45.559 --> 00:18:47.350 align:start position:0%
few ideas I have but I'd love to talk to
people<00:18:46.240><c> because</c><00:18:46.520><c> I</c><00:18:46.600><c> think</c><00:18:46.760><c> the</c><00:18:46.960><c> problem</c><00:18:47.240><c> with</c>

00:18:47.350 --> 00:18:47.360 align:start position:0%
people because I think the problem with
 

00:18:47.360 --> 00:18:49.390 align:start position:0%
people because I think the problem with
napkin<00:18:47.840><c> research</c><00:18:48.320><c> is</c><00:18:48.480><c> when</c><00:18:48.600><c> you</c><00:18:48.760><c> have</c><00:18:48.919><c> a</c><00:18:49.039><c> room</c>

00:18:49.390 --> 00:18:49.400 align:start position:0%
napkin research is when you have a room
 

00:18:49.400 --> 00:18:52.310 align:start position:0%
napkin research is when you have a room
this<00:18:49.720><c> big</c><00:18:50.720><c> the</c><00:18:50.880><c> napkins</c><00:18:51.400><c> become</c><00:18:51.640><c> a</c><00:18:51.760><c> flood</c><00:18:52.240><c> and</c>

00:18:52.310 --> 00:18:52.320 align:start position:0%
this big the napkins become a flood and
 

00:18:52.320 --> 00:18:54.789 align:start position:0%
this big the napkins become a flood and
it<00:18:52.440><c> becomes</c><00:18:52.880><c> too</c><00:18:53.159><c> easy</c><00:18:53.440><c> to</c><00:18:53.640><c> Lobby</c><00:18:54.080><c> too</c><00:18:54.320><c> easy</c><00:18:54.559><c> to</c>

00:18:54.789 --> 00:18:54.799 align:start position:0%
it becomes too easy to Lobby too easy to
 

00:18:54.799 --> 00:18:57.270 align:start position:0%
it becomes too easy to Lobby too easy to
capture<00:18:55.120><c> the</c><00:18:55.360><c> process</c><00:18:56.080><c> too</c><00:18:56.360><c> easy</c><00:18:56.640><c> to</c><00:18:56.840><c> get</c><00:18:57.120><c> kind</c>

00:18:57.270 --> 00:18:57.280 align:start position:0%
capture the process too easy to get kind
 

00:18:57.280 --> 00:18:59.630 align:start position:0%
capture the process too easy to get kind
of<00:18:57.440><c> YOLO</c><00:18:57.880><c> protocol</c><00:18:58.320><c> upgrades</c><00:18:58.799><c> and</c><00:18:59.000><c> bad</c><00:18:59.240><c> ideas</c>

00:18:59.630 --> 00:18:59.640 align:start position:0%
of YOLO protocol upgrades and bad ideas
 

00:18:59.640 --> 00:19:02.310 align:start position:0%
of YOLO protocol upgrades and bad ideas
shipped<00:19:00.039><c> into</c><00:19:00.240><c> the</c><00:19:00.360><c> L1</c><00:19:00.760><c> we</c><00:19:00.880><c> all</c><00:19:01.039><c> care</c><00:19:01.280><c> about</c><00:19:02.080><c> so</c>

00:19:02.310 --> 00:19:02.320 align:start position:0%
shipped into the L1 we all care about so
 

00:19:02.320 --> 00:19:04.710 align:start position:0%
shipped into the L1 we all care about so
let's<00:19:02.600><c> kind</c><00:19:02.720><c> of</c><00:19:02.919><c> upgrade</c><00:19:03.280><c> our</c><00:19:03.480><c> napkin</c><00:19:04.480><c> uh</c><00:19:04.600><c> the</c>

00:19:04.710 --> 00:19:04.720 align:start position:0%
let's kind of upgrade our napkin uh the
 

00:19:04.720 --> 00:19:06.230 align:start position:0%
let's kind of upgrade our napkin uh the
problem<00:19:05.000><c> is</c><00:19:05.120><c> if</c><00:19:05.240><c> you</c><00:19:05.400><c> combine</c><00:19:05.840><c> napkin</c>

00:19:06.230 --> 00:19:06.240 align:start position:0%
problem is if you combine napkin
 

00:19:06.240 --> 00:19:09.390 align:start position:0%
problem is if you combine napkin
research<00:19:06.600><c> with</c><00:19:06.840><c> ux</c><00:19:07.200><c> fenel</c><00:19:08.200><c> that's</c><00:19:08.840><c> pretty</c><00:19:09.120><c> bad</c>

00:19:09.390 --> 00:19:09.400 align:start position:0%
research with ux fenel that's pretty bad
 

00:19:09.400 --> 00:19:12.350 align:start position:0%
research with ux fenel that's pretty bad
situation<00:19:10.159><c> so</c><00:19:11.039><c> uh</c><00:19:11.400><c> that</c><00:19:11.600><c> that</c><00:19:11.760><c> I</c><00:19:11.840><c> think</c><00:19:12.000><c> is</c><00:19:12.200><c> how</c>

00:19:12.350 --> 00:19:12.360 align:start position:0%
situation so uh that that I think is how
 

00:19:12.360 --> 00:19:14.390 align:start position:0%
situation so uh that that I think is how
eth<00:19:12.679><c> goes</c><00:19:12.840><c> to</c><00:19:13.039><c> zero</c><00:19:13.320><c> it's</c><00:19:13.480><c> the</c><00:19:13.640><c> combination</c><00:19:14.120><c> of</c>

00:19:14.390 --> 00:19:14.400 align:start position:0%
eth goes to zero it's the combination of
 

00:19:14.400 --> 00:19:17.470 align:start position:0%
eth goes to zero it's the combination of
n<00:19:14.760><c> napkin</c><00:19:15.120><c> research</c><00:19:16.120><c> uh</c><00:19:16.200><c> and</c><00:19:16.360><c> ux</c><00:19:16.760><c> fenel</c>

00:19:17.470 --> 00:19:17.480 align:start position:0%
n napkin research uh and ux fenel
 

00:19:17.480 --> 00:19:19.390 align:start position:0%
n napkin research uh and ux fenel
eroding<00:19:17.960><c> the</c><00:19:18.080><c> decentralization</c><00:19:18.960><c> we've</c><00:19:19.120><c> built</c>

00:19:19.390 --> 00:19:19.400 align:start position:0%
eroding the decentralization we've built
 

00:19:19.400 --> 00:19:22.310 align:start position:0%
eroding the decentralization we've built
so<00:19:19.919><c> carefully</c><00:19:20.919><c> um</c><00:19:21.120><c> and</c><00:19:21.320><c> leaving</c><00:19:21.600><c> US</c><00:19:21.799><c> Open</c><00:19:22.039><c> to</c>

00:19:22.310 --> 00:19:22.320 align:start position:0%
so carefully um and leaving US Open to
 

00:19:22.320 --> 00:19:24.470 align:start position:0%
so carefully um and leaving US Open to
capture<00:19:22.840><c> to</c><00:19:23.039><c> co-opting</c><00:19:23.640><c> and</c><00:19:23.760><c> to</c><00:19:23.960><c> rebuilding</c>

00:19:24.470 --> 00:19:24.480 align:start position:0%
capture to co-opting and to rebuilding
 

00:19:24.480 --> 00:19:27.310 align:start position:0%
capture to co-opting and to rebuilding
the<00:19:24.600><c> systems</c><00:19:25.080><c> we</c><00:19:25.240><c> sought</c><00:19:25.520><c> to</c><00:19:25.799><c> evade</c><00:19:26.799><c> so</c><00:19:27.039><c> in</c><00:19:27.200><c> all</c>

00:19:27.310 --> 00:19:27.320 align:start position:0%
the systems we sought to evade so in all
 

00:19:27.320 --> 00:19:29.230 align:start position:0%
the systems we sought to evade so in all
of<00:19:27.520><c> that</c><00:19:27.720><c> the</c><00:19:27.880><c> exit</c><00:19:28.360><c> must</c><00:19:28.760><c> be</c><00:19:28.880><c> globally</c>

00:19:29.230 --> 00:19:29.240 align:start position:0%
of that the exit must be globally
 

00:19:29.240 --> 00:19:31.549 align:start position:0%
of that the exit must be globally
distributed<00:19:29.760><c> power</c><00:19:30.280><c> there</c><00:19:30.400><c> is</c><00:19:30.640><c> no</c>

00:19:31.549 --> 00:19:31.559 align:start position:0%
distributed power there is no
 

00:19:31.559 --> 00:19:34.830 align:start position:0%
distributed power there is no
alternative<00:19:32.559><c> the</c><00:19:32.679><c> alternative</c><00:19:33.080><c> is0</c><00:19:33.720><c> eth</c><00:19:34.600><c> say</c>

00:19:34.830 --> 00:19:34.840 align:start position:0%
alternative the alternative is0 eth say
 

00:19:34.840 --> 00:19:37.390 align:start position:0%
alternative the alternative is0 eth say
it<00:19:35.200><c> again</c><00:19:35.640><c> and</c><00:19:35.960><c> again</c><00:19:36.320><c> and</c><00:19:36.520><c> again</c><00:19:36.919><c> please</c><00:19:37.280><c> in</c>

00:19:37.390 --> 00:19:37.400 align:start position:0%
it again and again and again please in
 

00:19:37.400 --> 00:19:40.870 align:start position:0%
it again and again and again please in
the<00:19:37.679><c> mirror</c><00:19:38.679><c> let's</c><00:19:38.880><c> move</c><00:19:39.159><c> beyond</c><00:19:39.400><c> the</c><00:19:39.880><c> napkin</c>

00:19:40.870 --> 00:19:40.880 align:start position:0%
the mirror let's move beyond the napkin
 

00:19:40.880 --> 00:19:42.510 align:start position:0%
the mirror let's move beyond the napkin
um<00:19:41.080><c> this</c><00:19:41.159><c> is</c><00:19:41.280><c> a</c><00:19:41.440><c> table</c><00:19:41.720><c> that</c><00:19:41.840><c> I</c><00:19:41.960><c> have</c><00:19:42.159><c> from</c><00:19:42.360><c> a</c>

00:19:42.510 --> 00:19:42.520 align:start position:0%
um this is a table that I have from a
 

00:19:42.520 --> 00:19:44.310 align:start position:0%
um this is a table that I have from a
talk<00:19:42.720><c> I</c><00:19:42.880><c> gave</c><00:19:43.080><c> at</c><00:19:43.200><c> eth</c><00:19:43.520><c> Denver</c><00:19:43.880><c> I</c><00:19:44.000><c> encourage</c>

00:19:44.310 --> 00:19:44.320 align:start position:0%
talk I gave at eth Denver I encourage
 

00:19:44.320 --> 00:19:46.390 align:start position:0%
talk I gave at eth Denver I encourage
you<00:19:44.400><c> to</c><00:19:44.520><c> look</c><00:19:44.720><c> it</c><00:19:44.840><c> up</c><00:19:45.400><c> it</c><00:19:45.559><c> talks</c><00:19:45.799><c> about</c><00:19:46.039><c> all</c><00:19:46.240><c> the</c>

00:19:46.390 --> 00:19:46.400 align:start position:0%
you to look it up it talks about all the
 

00:19:46.400 --> 00:19:48.390 align:start position:0%
you to look it up it talks about all the
technologies<00:19:47.039><c> that</c><00:19:47.159><c> we</c><00:19:47.360><c> have</c><00:19:47.720><c> including</c><00:19:48.240><c> as</c>

00:19:48.390 --> 00:19:48.400 align:start position:0%
technologies that we have including as
 

00:19:48.400 --> 00:19:49.950 align:start position:0%
technologies that we have including as
we<00:19:48.640><c> talked</c><00:19:48.880><c> about</c><00:19:49.159><c> kind</c><00:19:49.280><c> of</c><00:19:49.440><c> programmable</c>

00:19:49.950 --> 00:19:49.960 align:start position:0%
we talked about kind of programmable
 

00:19:49.960 --> 00:19:52.190 align:start position:0%
we talked about kind of programmable
encryption<00:19:50.880><c> and</c><00:19:51.000><c> there</c><00:19:51.280><c> various</c><00:19:51.640><c> trade-offs</c>

00:19:52.190 --> 00:19:52.200 align:start position:0%
encryption and there various trade-offs
 

00:19:52.200 --> 00:19:54.230 align:start position:0%
encryption and there various trade-offs
for<00:19:52.400><c> deploying</c><00:19:53.120><c> in</c><00:19:53.320><c> these</c><00:19:53.520><c> contexts</c><00:19:54.000><c> that</c><00:19:54.120><c> we</c>

00:19:54.230 --> 00:19:54.240 align:start position:0%
for deploying in these contexts that we
 

00:19:54.240 --> 00:19:56.669 align:start position:0%
for deploying in these contexts that we
have<00:19:54.400><c> in</c><00:19:54.559><c> distributed</c><00:19:55.200><c> protocols</c><00:19:56.200><c> including</c>

00:19:56.669 --> 00:19:56.679 align:start position:0%
have in distributed protocols including
 

00:19:56.679 --> 00:19:59.110 align:start position:0%
have in distributed protocols including
who<00:19:56.840><c> would</c><00:19:57.039><c> break</c><00:19:57.320><c> them</c><00:19:57.760><c> including</c><00:19:58.200><c> rent</c><00:19:58.679><c> VES</c>

00:19:59.110 --> 00:19:59.120 align:start position:0%
who would break them including rent VES
 

00:19:59.120 --> 00:20:01.270 align:start position:0%
who would break them including rent VES
including<00:19:59.919><c> Geographic</c><00:20:00.480><c> decentralization</c>

00:20:01.270 --> 00:20:01.280 align:start position:0%
including Geographic decentralization
 

00:20:01.280 --> 00:20:02.909 align:start position:0%
including Geographic decentralization
which<00:20:01.440><c> I</c><00:20:01.520><c> think</c><00:20:01.679><c> is</c><00:20:01.840><c> the</c><00:20:02.000><c> most</c><00:20:02.240><c> important</c><00:20:02.640><c> row</c>

00:20:02.909 --> 00:20:02.919 align:start position:0%
which I think is the most important row
 

00:20:02.919 --> 00:20:05.310 align:start position:0%
which I think is the most important row
here<00:20:03.640><c> uh</c><00:20:03.760><c> we</c><00:20:03.880><c> need</c><00:20:04.000><c> to</c><00:20:04.240><c> jam</c><00:20:04.520><c> more</c><00:20:04.840><c> about</c><00:20:05.120><c> this</c>

00:20:05.310 --> 00:20:05.320 align:start position:0%
here uh we need to jam more about this
 

00:20:05.320 --> 00:20:06.470 align:start position:0%
here uh we need to jam more about this
and<00:20:05.480><c> fill</c><00:20:05.720><c> this</c><00:20:05.880><c> table</c><00:20:06.120><c> out</c><00:20:06.280><c> more</c>

00:20:06.470 --> 00:20:06.480 align:start position:0%
and fill this table out more
 

00:20:06.480 --> 00:20:08.190 align:start position:0%
and fill this table out more
unfortunately<00:20:07.200><c> I</c><00:20:07.280><c> don't</c><00:20:07.440><c> have</c><00:20:07.640><c> time</c><00:20:07.840><c> to</c><00:20:08.039><c> go</c>

00:20:08.190 --> 00:20:08.200 align:start position:0%
unfortunately I don't have time to go
 

00:20:08.200 --> 00:20:10.230 align:start position:0%
unfortunately I don't have time to go
deep<00:20:08.440><c> today</c><00:20:09.120><c> but</c><00:20:09.320><c> please</c><00:20:09.559><c> check</c><00:20:09.760><c> it</c><00:20:09.840><c> out</c><00:20:10.080><c> and</c>

00:20:10.230 --> 00:20:10.240 align:start position:0%
deep today but please check it out and
 

00:20:10.240 --> 00:20:12.710 align:start position:0%
deep today but please check it out and
let's<00:20:10.640><c> discuss</c><00:20:11.159><c> more</c><00:20:12.159><c> uh</c><00:20:12.320><c> okay</c><00:20:12.440><c> I'm</c><00:20:12.520><c> going</c><00:20:12.640><c> to</c>

00:20:12.710 --> 00:20:12.720 align:start position:0%
let's discuss more uh okay I'm going to
 

00:20:12.720 --> 00:20:15.710 align:start position:0%
let's discuss more uh okay I'm going to
leave<00:20:12.880><c> you</c><00:20:13.000><c> with</c><00:20:13.159><c> one</c><00:20:13.360><c> sound</c><00:20:13.679><c> bite</c><00:20:14.320><c> yte</c><00:20:15.320><c> well</c>

00:20:15.710 --> 00:20:15.720 align:start position:0%
leave you with one sound bite yte well
 

00:20:15.720 --> 00:20:17.390 align:start position:0%
leave you with one sound bite yte well
they<00:20:15.840><c> give</c><00:20:16.000><c> us</c><00:20:16.120><c> the</c><00:20:16.280><c> theoretical</c><00:20:16.880><c> maximal</c>

00:20:17.390 --> 00:20:17.400 align:start position:0%
they give us the theoretical maximal
 

00:20:17.400 --> 00:20:19.350 align:start position:0%
they give us the theoretical maximal
performance<00:20:18.080><c> for</c><00:20:18.360><c> taking</c><00:20:18.840><c> all</c><00:20:19.000><c> of</c><00:20:19.159><c> these</c>

00:20:19.350 --> 00:20:19.360 align:start position:0%
performance for taking all of these
 

00:20:19.360 --> 00:20:21.230 align:start position:0%
performance for taking all of these
monolithic<00:20:19.960><c> things</c><00:20:20.200><c> we</c><00:20:20.400><c> have</c><00:20:21.039><c> and</c>

00:20:21.230 --> 00:20:21.240 align:start position:0%
monolithic things we have and
 

00:20:21.240 --> 00:20:23.390 align:start position:0%
monolithic things we have and
distributing<00:20:21.840><c> them</c><00:20:22.120><c> so</c><00:20:22.280><c> we</c><00:20:22.400><c> can</c><00:20:22.679><c> push</c><00:20:23.000><c> to</c><00:20:23.159><c> the</c>

00:20:23.390 --> 00:20:23.400 align:start position:0%
distributing them so we can push to the
 

00:20:23.400 --> 00:20:25.909 align:start position:0%
distributing them so we can push to the
edges<00:20:24.400><c> and</c><00:20:24.640><c> at</c><00:20:24.760><c> least</c><00:20:25.000><c> for</c><00:20:25.200><c> what</c><00:20:25.320><c> I</c><00:20:25.480><c> care</c><00:20:25.679><c> about</c>

00:20:25.909 --> 00:20:25.919 align:start position:0%
edges and at least for what I care about
 

00:20:25.919 --> 00:20:27.830 align:start position:0%
edges and at least for what I care about
which<00:20:26.039><c> is</c><00:20:26.120><c> the</c><00:20:26.240><c> meev</c><00:20:26.760><c> context</c><00:20:27.240><c> we</c><00:20:27.320><c> can</c><00:20:27.480><c> iterate</c>

00:20:27.830 --> 00:20:27.840 align:start position:0%
which is the meev context we can iterate
 

00:20:27.840 --> 00:20:29.870 align:start position:0%
which is the meev context we can iterate
the<00:20:28.000><c> security</c><00:20:28.440><c> there</c>

00:20:29.870 --> 00:20:29.880 align:start position:0%
the security there
 

00:20:29.880 --> 00:20:31.750 align:start position:0%
the security there
and<00:20:30.000><c> for</c><00:20:30.159><c> your</c><00:20:30.440><c> dap</c><00:20:30.840><c> if</c><00:20:30.960><c> you</c><00:20:31.039><c> want</c><00:20:31.159><c> to</c><00:20:31.320><c> do</c><00:20:31.520><c> this</c>

00:20:31.750 --> 00:20:31.760 align:start position:0%
and for your dap if you want to do this
 

00:20:31.760 --> 00:20:34.430 align:start position:0%
and for your dap if you want to do this
the<00:20:31.880><c> recipe</c><00:20:32.280><c> is</c><00:20:32.480><c> simple</c><00:20:33.280><c> build</c><00:20:33.640><c> demand</c>

00:20:34.430 --> 00:20:34.440 align:start position:0%
the recipe is simple build demand
 

00:20:34.440 --> 00:20:35.789 align:start position:0%
the recipe is simple build demand
distribute<00:20:34.880><c> the</c><00:20:35.000><c> infra</c><00:20:35.400><c> to</c><00:20:35.520><c> where</c><00:20:35.640><c> your</c>

00:20:35.789 --> 00:20:35.799 align:start position:0%
distribute the infra to where your
 

00:20:35.799 --> 00:20:38.630 align:start position:0%
distribute the infra to where your
demand<00:20:36.240><c> exists</c><00:20:37.039><c> natively</c><00:20:37.559><c> to</c><00:20:37.760><c> it</c><00:20:38.360><c> and</c><00:20:38.480><c> then</c>

00:20:38.630 --> 00:20:38.640 align:start position:0%
demand exists natively to it and then
 

00:20:38.640 --> 00:20:41.310 align:start position:0%
demand exists natively to it and then
scale<00:20:38.960><c> your</c><00:20:39.120><c> network</c><00:20:39.600><c> from</c><00:20:40.000><c> there</c><00:20:41.000><c> as</c><00:20:41.120><c> for</c>

00:20:41.310 --> 00:20:41.320 align:start position:0%
scale your network from there as for
 

00:20:41.320 --> 00:20:43.070 align:start position:0%
scale your network from there as for
what<00:20:41.440><c> flash</c><00:20:41.760><c> Bots</c><00:20:42.039><c> is</c><00:20:42.159><c> doing</c><00:20:42.400><c> we're</c><00:20:42.559><c> doing</c><00:20:42.919><c> so</c>

00:20:43.070 --> 00:20:43.080 align:start position:0%
what flash Bots is doing we're doing so
 

00:20:43.080 --> 00:20:45.390 align:start position:0%
what flash Bots is doing we're doing so
many<00:20:43.320><c> different</c><00:20:43.640><c> things</c><00:20:44.039><c> in</c><00:20:44.159><c> terms</c><00:20:44.400><c> of</c><00:20:44.640><c> teying</c>

00:20:45.390 --> 00:20:45.400 align:start position:0%
many different things in terms of teying
 

00:20:45.400 --> 00:20:47.510 align:start position:0%
many different things in terms of teying
everything<00:20:46.080><c> pushing</c><00:20:46.320><c> it</c><00:20:46.440><c> to</c><00:20:46.600><c> the</c><00:20:46.720><c> edges</c>

00:20:47.510 --> 00:20:47.520 align:start position:0%
everything pushing it to the edges
 

00:20:47.520 --> 00:20:49.549 align:start position:0%
everything pushing it to the edges
creating<00:20:47.960><c> platforms</c><00:20:48.559><c> for</c><00:20:48.720><c> you</c><00:20:48.919><c> all</c><00:20:49.120><c> to</c><00:20:49.320><c> push</c>

00:20:49.549 --> 00:20:49.559 align:start position:0%
creating platforms for you all to push
 

00:20:49.559 --> 00:20:51.510 align:start position:0%
creating platforms for you all to push
things<00:20:49.720><c> to</c><00:20:49.880><c> the</c><00:20:49.960><c> edges</c><00:20:50.360><c> more</c><00:20:51.000><c> there's</c><00:20:51.200><c> a</c><00:20:51.320><c> lot</c>

00:20:51.510 --> 00:20:51.520 align:start position:0%
things to the edges more there's a lot
 

00:20:51.520 --> 00:20:52.510 align:start position:0%
things to the edges more there's a lot
that's<00:20:51.679><c> going</c><00:20:51.760><c> to</c><00:20:51.840><c> be</c><00:20:51.960><c> coming</c><00:20:52.159><c> out</c><00:20:52.320><c> in</c><00:20:52.400><c> the</c>

00:20:52.510 --> 00:20:52.520 align:start position:0%
that's going to be coming out in the
 

00:20:52.520 --> 00:20:54.270 align:start position:0%
that's going to be coming out in the
next<00:20:52.760><c> few</c><00:20:52.960><c> weeks</c><00:20:53.240><c> so</c><00:20:53.520><c> the</c><00:20:53.600><c> only</c><00:20:53.799><c> thing</c><00:20:53.960><c> I</c><00:20:54.039><c> can</c>

00:20:54.270 --> 00:20:54.280 align:start position:0%
next few weeks so the only thing I can
 

00:20:54.280 --> 00:20:56.590 align:start position:0%
next few weeks so the only thing I can
ask<00:20:54.520><c> is</c><00:20:54.640><c> for</c><00:20:54.760><c> you</c><00:20:54.880><c> to</c><00:20:55.080><c> stay</c><00:20:55.320><c> tuned</c><00:20:55.840><c> or</c><00:20:56.120><c> find</c><00:20:56.360><c> me</c>

00:20:56.590 --> 00:20:56.600 align:start position:0%
ask is for you to stay tuned or find me
 

00:20:56.600 --> 00:20:58.710 align:start position:0%
ask is for you to stay tuned or find me
later<00:20:57.520><c> and</c><00:20:57.760><c> please</c><00:20:58.000><c> don't</c><00:20:58.200><c> forget</c><00:20:58.440><c> that</c><00:20:58.600><c> that</c>

00:20:58.710 --> 00:20:58.720 align:start position:0%
later and please don't forget that that
 

00:20:58.720 --> 00:21:00.390 align:start position:0%
later and please don't forget that that
I<00:20:58.799><c> need</c><00:20:58.960><c> your</c><00:20:59.159><c> arms</c><00:20:59.600><c> so</c><00:20:59.720><c> that</c><00:20:59.840><c> we</c><00:20:59.960><c> can</c><00:21:00.120><c> get</c><00:21:00.280><c> out</c>

00:21:00.390 --> 00:21:00.400 align:start position:0%
I need your arms so that we can get out
 

00:21:00.400 --> 00:21:02.750 align:start position:0%
I need your arms so that we can get out
of<00:21:00.600><c> this</c><00:21:00.840><c> power</c><00:21:01.240><c> dystopia</c><00:21:02.240><c> all</c><00:21:02.360><c> right</c><00:21:02.600><c> thank</c>

00:21:02.750 --> 00:21:02.760 align:start position:0%
of this power dystopia all right thank
 

00:21:02.760 --> 00:21:05.789 align:start position:0%
of this power dystopia all right thank
you<00:21:02.880><c> very</c><00:21:03.039><c> much</c><00:21:03.280><c> everyone</c><00:21:04.039><c> all</c><00:21:04.320><c> right</c>

00:21:05.789 --> 00:21:05.799 align:start position:0%
you very much everyone all right
 

00:21:05.799 --> 00:21:11.830 align:start position:0%
you very much everyone all right
philli<00:21:06.799><c> well</c><00:21:07.120><c> well</c>

00:21:11.830 --> 00:21:11.840 align:start position:0%
 
 

00:21:11.840 --> 00:21:15.070 align:start position:0%
 
well<00:21:12.840><c> napkin</c><00:21:13.480><c> fentel</c><00:21:14.080><c> and</c><00:21:14.240><c> arms</c><00:21:14.679><c> that's</c><00:21:14.919><c> quite</c>

00:21:15.070 --> 00:21:15.080 align:start position:0%
well napkin fentel and arms that's quite
 

00:21:15.080 --> 00:21:16.750 align:start position:0%
well napkin fentel and arms that's quite
a<00:21:15.240><c> fascinating</c><00:21:15.840><c> presentation</c><00:21:16.559><c> but</c>

00:21:16.750 --> 00:21:16.760 align:start position:0%
a fascinating presentation but
 

00:21:16.760 --> 00:21:18.789 align:start position:0%
a fascinating presentation but
nevertheless<00:21:17.360><c> let's</c><00:21:17.559><c> go</c><00:21:17.960><c> right</c><00:21:18.200><c> through</c><00:21:18.520><c> our</c>

00:21:18.789 --> 00:21:18.799 align:start position:0%
nevertheless let's go right through our
 

00:21:18.799 --> 00:21:20.990 align:start position:0%
nevertheless let's go right through our
Q&amp;A<00:21:19.159><c> we</c><00:21:19.240><c> got</c><00:21:19.360><c> about</c><00:21:19.480><c> 4</c><00:21:19.640><c> minutes</c><00:21:19.960><c> left</c><00:21:20.600><c> is</c><00:21:20.799><c> there</c>

00:21:20.990 --> 00:21:21.000 align:start position:0%
Q&amp;A we got about 4 minutes left is there
 

00:21:21.000 --> 00:21:25.110 align:start position:0%
Q&amp;A we got about 4 minutes left is there
any<00:21:21.360><c> value</c><00:21:21.880><c> to</c><00:21:22.440><c> centralization</c><00:21:23.440><c> at</c><00:21:23.679><c> all</c><00:21:24.240><c> or</c><00:21:25.000><c> do</c>

00:21:25.110 --> 00:21:25.120 align:start position:0%
any value to centralization at all or do
 

00:21:25.120 --> 00:21:26.630 align:start position:0%
any value to centralization at all or do
you<00:21:25.320><c> believe</c><00:21:25.679><c> everything</c><00:21:26.000><c> in</c><00:21:26.159><c> life</c><00:21:26.320><c> should</c><00:21:26.520><c> be</c>

00:21:26.630 --> 00:21:26.640 align:start position:0%
you believe everything in life should be
 

00:21:26.640 --> 00:21:28.909 align:start position:0%
you believe everything in life should be
decentralized<00:21:27.400><c> what</c><00:21:27.480><c> do</c><00:21:27.559><c> you</c><00:21:27.640><c> think</c><00:21:27.799><c> philli</c>

00:21:28.909 --> 00:21:28.919 align:start position:0%
decentralized what do you think philli
 

00:21:28.919 --> 00:21:31.310 align:start position:0%
decentralized what do you think philli
yeah<00:21:29.039><c> I</c><00:21:29.120><c> mean</c><00:21:29.320><c> I</c><00:21:29.400><c> think</c><00:21:29.640><c> for</c><00:21:29.880><c> example</c><00:21:30.720><c> uh</c>

00:21:31.310 --> 00:21:31.320 align:start position:0%
yeah I mean I think for example uh
 

00:21:31.320 --> 00:21:33.350 align:start position:0%
yeah I mean I think for example uh
government<00:21:31.880><c> is</c><00:21:32.039><c> fundamentally</c><00:21:32.679><c> centralized</c>

00:21:33.350 --> 00:21:33.360 align:start position:0%
government is fundamentally centralized
 

00:21:33.360 --> 00:21:35.110 align:start position:0%
government is fundamentally centralized
right<00:21:33.520><c> and</c><00:21:33.679><c> many</c><00:21:33.919><c> people</c><00:21:34.279><c> find</c><00:21:34.520><c> that</c><00:21:34.760><c> valuable</c>

00:21:35.110 --> 00:21:35.120 align:start position:0%
right and many people find that valuable
 

00:21:35.120 --> 00:21:38.190 align:start position:0%
right and many people find that valuable
in<00:21:35.279><c> many</c><00:21:35.600><c> contexts</c><00:21:36.279><c> I</c><00:21:36.360><c> think</c><00:21:37.200><c> you</c><00:21:37.320><c> know</c><00:21:37.679><c> like</c>

00:21:38.190 --> 00:21:38.200 align:start position:0%
in many contexts I think you know like
 

00:21:38.200 --> 00:21:40.350 align:start position:0%
in many contexts I think you know like
uh<00:21:38.480><c> for</c><00:21:38.679><c> example</c><00:21:39.080><c> my</c><00:21:39.320><c> laptop</c><00:21:39.880><c> is</c><00:21:40.080><c> like</c><00:21:40.200><c> a</c>

00:21:40.350 --> 00:21:40.360 align:start position:0%
uh for example my laptop is like a
 

00:21:40.360 --> 00:21:42.669 align:start position:0%
uh for example my laptop is like a
centralized<00:21:41.000><c> Computing</c><00:21:41.440><c> hub</c><00:21:41.679><c> for</c><00:21:42.000><c> myself</c><00:21:42.559><c> I</c>

00:21:42.669 --> 00:21:42.679 align:start position:0%
centralized Computing hub for myself I
 

00:21:42.679 --> 00:21:44.590 align:start position:0%
centralized Computing hub for myself I
don't<00:21:42.960><c> necessarily</c><00:21:43.520><c> want</c><00:21:43.679><c> to</c><00:21:43.840><c> decentralize</c>

00:21:44.590 --> 00:21:44.600 align:start position:0%
don't necessarily want to decentralize
 

00:21:44.600 --> 00:21:46.430 align:start position:0%
don't necessarily want to decentralize
that<00:21:45.320><c> I</c><00:21:45.400><c> think</c><00:21:45.520><c> it</c><00:21:45.640><c> really</c><00:21:45.840><c> depends</c><00:21:46.159><c> on</c><00:21:46.279><c> the</c>

00:21:46.430 --> 00:21:46.440 align:start position:0%
that I think it really depends on the
 

00:21:46.440 --> 00:21:48.549 align:start position:0%
that I think it really depends on the
application<00:21:47.200><c> I</c><00:21:47.279><c> think</c><00:21:47.440><c> decentralization</c><00:21:48.360><c> is</c>

00:21:48.549 --> 00:21:48.559 align:start position:0%
application I think decentralization is
 

00:21:48.559 --> 00:21:51.669 align:start position:0%
application I think decentralization is
useful<00:21:49.039><c> where</c><00:21:49.200><c> you</c><00:21:49.360><c> want</c><00:21:49.960><c> cooperation</c><00:21:50.960><c> across</c>

00:21:51.669 --> 00:21:51.679 align:start position:0%
useful where you want cooperation across
 

00:21:51.679 --> 00:21:53.430 align:start position:0%
useful where you want cooperation across
differences<00:21:52.679><c> and</c><00:21:52.840><c> that's</c><00:21:53.039><c> actually</c><00:21:53.279><c> where</c>

00:21:53.430 --> 00:21:53.440 align:start position:0%
differences and that's actually where
 

00:21:53.440 --> 00:21:55.110 align:start position:0%
differences and that's actually where
the<00:21:53.640><c> power</c><00:21:54.000><c> and</c><00:21:54.159><c> censorship</c><00:21:54.679><c> resistance</c>

00:21:55.110 --> 00:21:55.120 align:start position:0%
the power and censorship resistance
 

00:21:55.120 --> 00:21:56.909 align:start position:0%
the power and censorship resistance
comes<00:21:55.360><c> from</c><00:21:55.840><c> the</c><00:21:55.960><c> more</c><00:21:56.240><c> different</c><00:21:56.600><c> people</c>

00:21:56.909 --> 00:21:56.919 align:start position:0%
comes from the more different people
 

00:21:56.919 --> 00:21:59.149 align:start position:0%
comes from the more different people
that<00:21:57.039><c> are</c><00:21:57.279><c> cooperating</c><00:21:57.919><c> under</c><00:21:58.120><c> the</c><00:21:58.200><c> same</c><00:21:58.559><c> ENT</c>

00:21:59.149 --> 00:21:59.159 align:start position:0%
that are cooperating under the same ENT
 

00:21:59.159 --> 00:22:00.990 align:start position:0%
that are cooperating under the same ENT
and<00:21:59.279><c> the</c><00:21:59.400><c> more</c><00:21:59.640><c> each</c><00:21:59.799><c> one</c><00:22:00.039><c> walks</c><00:22:00.320><c> away</c><00:22:00.600><c> feeling</c>

00:22:00.990 --> 00:22:01.000 align:start position:0%
and the more each one walks away feeling
 

00:22:01.000 --> 00:22:02.990 align:start position:0%
and the more each one walks away feeling
like<00:22:01.279><c> yes</c><00:22:01.520><c> that</c><00:22:01.640><c> was</c><00:22:01.880><c> fair</c><00:22:02.240><c> that</c><00:22:02.360><c> was</c><00:22:02.480><c> a</c><00:22:02.679><c> just</c>

00:22:02.990 --> 00:22:03.000 align:start position:0%
like yes that was fair that was a just
 

00:22:03.000 --> 00:22:04.909 align:start position:0%
like yes that was fair that was a just
outcome<00:22:03.760><c> the</c><00:22:03.880><c> more</c><00:22:04.120><c> robustness</c><00:22:04.640><c> the</c><00:22:04.760><c> more</c>

00:22:04.909 --> 00:22:04.919 align:start position:0%
outcome the more robustness the more
 

00:22:04.919 --> 00:22:07.149 align:start position:0%
outcome the more robustness the more
censorship<00:22:05.400><c> resistance</c><00:22:05.799><c> you</c><00:22:05.960><c> get</c><00:22:06.159><c> for</c><00:22:06.320><c> free</c>

00:22:07.149 --> 00:22:07.159 align:start position:0%
censorship resistance you get for free
 

00:22:07.159 --> 00:22:08.750 align:start position:0%
censorship resistance you get for free
uh<00:22:07.279><c> and</c><00:22:07.360><c> so</c><00:22:07.480><c> I</c><00:22:07.559><c> think</c><00:22:07.679><c> in</c><00:22:07.880><c> those</c><00:22:08.159><c> cases</c><00:22:08.520><c> it's</c>

00:22:08.750 --> 00:22:08.760 align:start position:0%
uh and so I think in those cases it's
 

00:22:08.760 --> 00:22:10.590 align:start position:0%
uh and so I think in those cases it's
it's<00:22:08.960><c> it's</c><00:22:09.120><c> not</c><00:22:09.480><c> centralization</c><00:22:10.200><c> is</c><00:22:10.440><c> is</c>

00:22:10.590 --> 00:22:10.600 align:start position:0%
it's it's not centralization is is
 

00:22:10.600 --> 00:22:12.789 align:start position:0%
it's it's not centralization is is
harmful<00:22:11.320><c> but</c><00:22:11.440><c> in</c><00:22:11.600><c> other</c><00:22:11.840><c> cases</c><00:22:12.400><c> it</c><00:22:12.520><c> totally</c>

00:22:12.789 --> 00:22:12.799 align:start position:0%
harmful but in other cases it totally
 

00:22:12.799 --> 00:22:14.750 align:start position:0%
harmful but in other cases it totally
does<00:22:13.039><c> make</c><00:22:13.240><c> sense</c><00:22:13.880><c> excellent</c><00:22:14.279><c> thank</c><00:22:14.400><c> you</c><00:22:14.559><c> very</c>

00:22:14.750 --> 00:22:14.760 align:start position:0%
does make sense excellent thank you very
 

00:22:14.760 --> 00:22:16.310 align:start position:0%
does make sense excellent thank you very
much<00:22:14.919><c> all</c><00:22:15.080><c> right</c><00:22:15.240><c> I</c><00:22:15.320><c> see</c><00:22:15.520><c> people</c><00:22:15.760><c> voting</c><00:22:16.120><c> and</c>

00:22:16.310 --> 00:22:16.320 align:start position:0%
much all right I see people voting and
 

00:22:16.320 --> 00:22:18.630 align:start position:0%
much all right I see people voting and
up<00:22:16.520><c> voting</c><00:22:16.919><c> the</c><00:22:17.279><c> up</c><00:22:17.520><c> voting</c><00:22:17.760><c> the</c><00:22:17.919><c> questions</c>

00:22:18.630 --> 00:22:18.640 align:start position:0%
up voting the up voting the questions
 

00:22:18.640 --> 00:22:21.190 align:start position:0%
up voting the up voting the questions
right<00:22:18.799><c> at</c><00:22:18.919><c> the</c><00:22:19.080><c> top</c><00:22:19.279><c> with</c><00:22:19.480><c> five</c><00:22:19.720><c> votes</c><00:22:20.360><c> tees</c>

00:22:21.190 --> 00:22:21.200 align:start position:0%
right at the top with five votes tees
 

00:22:21.200 --> 00:22:23.630 align:start position:0%
right at the top with five votes tees
are<00:22:21.440><c> Peak</c><00:22:21.919><c> centralization</c><00:22:22.919><c> three</c><00:22:23.240><c> us</c>

00:22:23.630 --> 00:22:23.640 align:start position:0%
are Peak centralization three us
 

00:22:23.640 --> 00:22:27.830 align:start position:0%
are Peak centralization three us
companies<00:22:24.600><c> a</c><00:22:24.840><c> local</c><00:22:25.240><c> device</c><00:22:26.200><c> zk's</c><00:22:27.200><c> viable</c>

00:22:27.830 --> 00:22:27.840 align:start position:0%
companies a local device zk's viable
 

00:22:27.840 --> 00:22:30.470 align:start position:0%
companies a local device zk's viable
alternative<00:22:28.520><c> take</c><00:22:28.640><c> it</c><00:22:28.720><c> a</c><00:22:29.000><c> away</c><00:22:30.000><c> yeah</c><00:22:30.159><c> so</c><00:22:30.360><c> we</c>

00:22:30.470 --> 00:22:30.480 align:start position:0%
alternative take it a away yeah so we
 

00:22:30.480 --> 00:22:32.430 align:start position:0%
alternative take it a away yeah so we
can<00:22:30.640><c> have</c><00:22:30.760><c> a</c><00:22:30.880><c> deeper</c><00:22:31.200><c> conversation</c><00:22:31.679><c> about</c><00:22:31.919><c> ZK</c>

00:22:32.430 --> 00:22:32.440 align:start position:0%
can have a deeper conversation about ZK
 

00:22:32.440 --> 00:22:34.350 align:start position:0%
can have a deeper conversation about ZK
zks<00:22:32.919><c> don't</c><00:22:33.159><c> allow</c><00:22:33.400><c> for</c><00:22:33.600><c> the</c><00:22:33.760><c> kind</c><00:22:33.919><c> of</c><00:22:34.120><c> like</c>

00:22:34.350 --> 00:22:34.360 align:start position:0%
zks don't allow for the kind of like
 

00:22:34.360 --> 00:22:36.269 align:start position:0%
zks don't allow for the kind of like
Interactive<00:22:35.039><c> Group</c><00:22:35.400><c> computation</c><00:22:36.080><c> that</c><00:22:36.159><c> you</c>

00:22:36.269 --> 00:22:36.279 align:start position:0%
Interactive Group computation that you
 

00:22:36.279 --> 00:22:37.750 align:start position:0%
Interactive Group computation that you
need<00:22:36.480><c> to</c><00:22:36.600><c> do</c><00:22:36.760><c> in</c><00:22:36.880><c> a</c><00:22:36.960><c> lot</c><00:22:37.080><c> of</c><00:22:37.240><c> consensus</c>

00:22:37.750 --> 00:22:37.760 align:start position:0%
need to do in a lot of consensus
 

00:22:37.760 --> 00:22:39.669 align:start position:0%
need to do in a lot of consensus
protocols<00:22:38.279><c> or</c><00:22:38.480><c> for</c><00:22:38.679><c> example</c><00:22:39.000><c> me</c><00:22:39.480><c> or</c>

00:22:39.669 --> 00:22:39.679 align:start position:0%
protocols or for example me or
 

00:22:39.679 --> 00:22:42.669 align:start position:0%
protocols or for example me or
transaction<00:22:40.640><c> processing</c><00:22:41.640><c> so</c><00:22:42.039><c> maybe</c><00:22:42.520><c> like</c>

00:22:42.669 --> 00:22:42.679 align:start position:0%
transaction processing so maybe like
 

00:22:42.679 --> 00:22:44.549 align:start position:0%
transaction processing so maybe like
kind<00:22:42.799><c> of</c><00:22:42.960><c> at</c><00:22:43.080><c> the</c><00:22:43.200><c> edges</c><00:22:43.600><c> of</c><00:22:43.840><c> like</c><00:22:44.159><c> okay</c><00:22:44.279><c> if</c><00:22:44.480><c> I</c>

00:22:44.549 --> 00:22:44.559 align:start position:0%
kind of at the edges of like okay if I
 

00:22:44.559 --> 00:22:46.310 align:start position:0%
kind of at the edges of like okay if I
show<00:22:44.799><c> you</c><00:22:44.960><c> a</c><00:22:45.120><c> proof</c><00:22:45.480><c> maybe</c><00:22:45.720><c> you</c><00:22:45.799><c> can</c><00:22:45.960><c> run</c><00:22:46.200><c> this</c>

00:22:46.310 --> 00:22:46.320 align:start position:0%
show you a proof maybe you can run this
 

00:22:46.320 --> 00:22:48.909 align:start position:0%
show you a proof maybe you can run this
more<00:22:46.559><c> limited</c><00:22:47.000><c> algorithm</c><00:22:47.840><c> yes</c><00:22:48.360><c> but</c><00:22:48.600><c> at</c><00:22:48.760><c> the</c>

00:22:48.909 --> 00:22:48.919 align:start position:0%
more limited algorithm yes but at the
 

00:22:48.919 --> 00:22:50.830 align:start position:0%
more limited algorithm yes but at the
core<00:22:49.400><c> it's</c><00:22:49.559><c> not</c><00:22:49.760><c> really</c><00:22:49.960><c> the</c><00:22:50.120><c> same</c><00:22:50.400><c> Tech</c><00:22:50.679><c> or</c>

00:22:50.830 --> 00:22:50.840 align:start position:0%
core it's not really the same Tech or
 

00:22:50.840 --> 00:22:53.190 align:start position:0%
core it's not really the same Tech or
the<00:22:50.960><c> same</c><00:22:51.360><c> abstraction</c><00:22:52.360><c> I</c><00:22:52.480><c> think</c><00:22:52.760><c> all</c><00:22:52.919><c> of</c><00:22:53.080><c> the</c>

00:22:53.190 --> 00:22:53.200 align:start position:0%
the same abstraction I think all of the
 

00:22:53.200 --> 00:22:57.230 align:start position:0%
the same abstraction I think all of the
entries<00:22:53.600><c> in</c><00:22:53.799><c> that</c><00:22:54.000><c> table</c><00:22:54.440><c> ZK</c><00:22:55.000><c> MPC</c><00:22:55.760><c> fhe</c><00:22:56.640><c> tees</c>

00:22:57.230 --> 00:22:57.240 align:start position:0%
entries in that table ZK MPC fhe tees
 

00:22:57.240 --> 00:22:59.110 align:start position:0%
entries in that table ZK MPC fhe tees
Etc<00:22:57.720><c> cryptoeconomics</c>

00:22:59.110 --> 00:22:59.120 align:start position:0%
Etc cryptoeconomics
 

00:22:59.120 --> 00:23:00.669 align:start position:0%
Etc cryptoeconomics
they<00:22:59.240><c> can</c><00:22:59.360><c> all</c><00:22:59.559><c> chisel</c><00:23:00.000><c> away</c><00:23:00.360><c> at</c><00:23:00.520><c> the</c>

00:23:00.669 --> 00:23:00.679 align:start position:0%
they can all chisel away at the
 

00:23:00.679 --> 00:23:02.909 align:start position:0%
they can all chisel away at the
centralization<00:23:01.559><c> so</c><00:23:01.720><c> it's</c><00:23:01.960><c> all</c><00:23:02.159><c> about</c><00:23:02.480><c> using</c>

00:23:02.909 --> 00:23:02.919 align:start position:0%
centralization so it's all about using
 

00:23:02.919 --> 00:23:04.909 align:start position:0%
centralization so it's all about using
which<00:23:03.080><c> one</c><00:23:03.279><c> is</c><00:23:03.480><c> appropriate</c><00:23:04.000><c> for</c><00:23:04.120><c> your</c><00:23:04.360><c> app</c>

00:23:04.909 --> 00:23:04.919 align:start position:0%
which one is appropriate for your app
 

00:23:04.919 --> 00:23:07.070 align:start position:0%
which one is appropriate for your app
maybe<00:23:05.200><c> your</c><00:23:05.400><c> app</c><00:23:05.640><c> is</c><00:23:05.880><c> already</c><00:23:06.440><c> centralized</c>

00:23:07.070 --> 00:23:07.080 align:start position:0%
maybe your app is already centralized
 

00:23:07.080 --> 00:23:08.510 align:start position:0%
maybe your app is already centralized
maybe<00:23:07.279><c> it</c><00:23:07.400><c> doesn't</c><00:23:07.679><c> need</c><00:23:07.919><c> go</c>

00:23:08.510 --> 00:23:08.520 align:start position:0%
maybe it doesn't need go
 

00:23:08.520 --> 00:23:10.190 align:start position:0%
maybe it doesn't need go
decentralization<00:23:09.520><c> then</c><00:23:09.679><c> why</c><00:23:09.799><c> would</c><00:23:09.919><c> you</c><00:23:10.039><c> use</c>

00:23:10.190 --> 00:23:10.200 align:start position:0%
decentralization then why would you use
 

00:23:10.200 --> 00:23:13.510 align:start position:0%
decentralization then why would you use
a<00:23:10.360><c> te</c><00:23:11.039><c> right</c><00:23:11.559><c> um</c><00:23:11.799><c> Etc</c><00:23:12.360><c> so</c><00:23:12.640><c> like</c><00:23:13.080><c> I</c><00:23:13.159><c> think</c><00:23:13.320><c> it's</c>

00:23:13.510 --> 00:23:13.520 align:start position:0%
a te right um Etc so like I think it's
 

00:23:13.520 --> 00:23:15.269 align:start position:0%
a te right um Etc so like I think it's
about<00:23:13.840><c> putting</c><00:23:14.159><c> as</c><00:23:14.279><c> much</c><00:23:14.480><c> as</c><00:23:14.679><c> possible</c><00:23:15.039><c> off</c>

00:23:15.269 --> 00:23:15.279 align:start position:0%
about putting as much as possible off
 

00:23:15.279 --> 00:23:19.230 align:start position:0%
about putting as much as possible off
tees<00:23:16.039><c> and</c><00:23:16.159><c> making</c><00:23:16.480><c> tees</c><00:23:17.240><c> also</c><00:23:18.080><c> able</c><00:23:18.480><c> to</c><00:23:18.799><c> be</c>

00:23:19.230 --> 00:23:19.240 align:start position:0%
tees and making tees also able to be
 

00:23:19.240 --> 00:23:21.590 align:start position:0%
tees and making tees also able to be
kind<00:23:19.400><c> of</c><00:23:19.600><c> more</c><00:23:19.919><c> trusted</c><00:23:20.400><c> by</c><00:23:20.559><c> having</c><00:23:20.840><c> open</c><00:23:21.080><c> tees</c>

00:23:21.590 --> 00:23:21.600 align:start position:0%
kind of more trusted by having open tees
 

00:23:21.600 --> 00:23:23.990 align:start position:0%
kind of more trusted by having open tees
and<00:23:21.799><c> things</c><00:23:22.039><c> like</c><00:23:22.200><c> that</c><00:23:22.520><c> in</c><00:23:22.640><c> the</c><00:23:22.880><c> future</c><00:23:23.880><c> but</c>

00:23:23.990 --> 00:23:24.000 align:start position:0%
and things like that in the future but
 

00:23:24.000 --> 00:23:25.549 align:start position:0%
and things like that in the future but
yeah<00:23:24.120><c> it</c><00:23:24.200><c> is</c><00:23:24.400><c> it</c><00:23:24.480><c> is</c><00:23:24.559><c> a</c><00:23:24.679><c> centralization</c><00:23:25.320><c> risk</c>

00:23:25.549 --> 00:23:25.559 align:start position:0%
yeah it is it is a centralization risk
 

00:23:25.559 --> 00:23:27.789 align:start position:0%
yeah it is it is a centralization risk
for<00:23:25.679><c> sure</c><00:23:26.640><c> all</c><00:23:26.799><c> right</c><00:23:27.000><c> excellent</c><00:23:27.440><c> question</c>

00:23:27.789 --> 00:23:27.799 align:start position:0%
for sure all right excellent question
 

00:23:27.799 --> 00:23:30.149 align:start position:0%
for sure all right excellent question
excellent<00:23:28.159><c> answer</c><00:23:28.600><c> sir</c><00:23:29.200><c> how</c><00:23:29.440><c> do</c><00:23:29.600><c> you</c><00:23:29.799><c> think</c>

00:23:30.149 --> 00:23:30.159 align:start position:0%
excellent answer sir how do you think
 

00:23:30.159 --> 00:23:33.110 align:start position:0%
excellent answer sir how do you think
centralization<00:23:31.159><c> risk</c><00:23:31.520><c> of</c><00:23:31.720><c> staking</c><00:23:32.679><c> compares</c>

00:23:33.110 --> 00:23:33.120 align:start position:0%
centralization risk of staking compares
 

00:23:33.120 --> 00:23:35.310 align:start position:0%
centralization risk of staking compares
to<00:23:33.320><c> the</c><00:23:33.520><c> rest</c><00:23:33.799><c> of</c><00:23:34.000><c> your</c>

00:23:35.310 --> 00:23:35.320 align:start position:0%
to the rest of your
 

00:23:35.320 --> 00:23:37.390 align:start position:0%
to the rest of your
pillars<00:23:36.320><c> uh</c><00:23:36.760><c> I'm</c><00:23:36.880><c> not</c><00:23:37.000><c> sure</c><00:23:37.240><c> what</c>

00:23:37.390 --> 00:23:37.400 align:start position:0%
pillars uh I'm not sure what
 

00:23:37.400 --> 00:23:39.909 align:start position:0%
pillars uh I'm not sure what
centralization<00:23:38.240><c> risk</c><00:23:38.600><c> of</c><00:23:38.760><c> staking</c><00:23:39.200><c> means</c><00:23:39.799><c> uh</c>

00:23:39.909 --> 00:23:39.919 align:start position:0%
centralization risk of staking means uh
 

00:23:39.919 --> 00:23:42.190 align:start position:0%
centralization risk of staking means uh
if<00:23:40.039><c> it</c><00:23:40.159><c> means</c><00:23:40.559><c> like</c><00:23:40.919><c> basically</c><00:23:41.320><c> the</c><00:23:41.480><c> stake</c><00:23:41.840><c> set</c>

00:23:42.190 --> 00:23:42.200 align:start position:0%
if it means like basically the stake set
 

00:23:42.200 --> 00:23:43.909 align:start position:0%
if it means like basically the stake set
becoming<00:23:42.559><c> more</c><00:23:42.799><c> centralized</c><00:23:43.480><c> or</c><00:23:43.640><c> the</c><00:23:43.799><c> fact</c>

00:23:43.909 --> 00:23:43.919 align:start position:0%
becoming more centralized or the fact
 

00:23:43.919 --> 00:23:45.590 align:start position:0%
becoming more centralized or the fact
that<00:23:44.080><c> staking</c><00:23:44.559><c> exists</c><00:23:44.919><c> centralizing</c><00:23:45.480><c> the</c>

00:23:45.590 --> 00:23:45.600 align:start position:0%
that staking exists centralizing the
 

00:23:45.600 --> 00:23:47.789 align:start position:0%
that staking exists centralizing the
coin<00:23:45.919><c> Supply</c><00:23:46.799><c> I</c><00:23:46.880><c> think</c><00:23:47.039><c> there's</c><00:23:47.279><c> many</c><00:23:47.600><c> like</c>

00:23:47.789 --> 00:23:47.799 align:start position:0%
coin Supply I think there's many like
 

00:23:47.799 --> 00:23:49.990 align:start position:0%
coin Supply I think there's many like
slices<00:23:48.360><c> of</c><00:23:48.559><c> staking</c><00:23:49.120><c> and</c>

00:23:49.990 --> 00:23:50.000 align:start position:0%
slices of staking and
 

00:23:50.000 --> 00:23:53.029 align:start position:0%
slices of staking and
centralization<00:23:51.000><c> um</c><00:23:51.760><c> I</c><00:23:51.880><c> think</c><00:23:52.200><c> I</c><00:23:52.320><c> think</c><00:23:52.679><c> yes</c><00:23:52.919><c> it</c>

00:23:53.029 --> 00:23:53.039 align:start position:0%
centralization um I think I think yes it
 

00:23:53.039 --> 00:23:55.149 align:start position:0%
centralization um I think I think yes it
is<00:23:53.400><c> kind</c><00:23:53.559><c> of</c><00:23:53.799><c> implied</c><00:23:54.400><c> by</c><00:23:54.559><c> the</c><00:23:54.679><c> rest</c><00:23:54.840><c> of</c><00:23:55.000><c> my</c>

00:23:55.149 --> 00:23:55.159 align:start position:0%
is kind of implied by the rest of my
 

00:23:55.159 --> 00:23:57.750 align:start position:0%
is kind of implied by the rest of my
pillars<00:23:55.520><c> in</c><00:23:55.679><c> my</c><00:23:55.880><c> worldview</c><00:23:56.520><c> like</c><00:23:56.640><c> if</c><00:23:56.799><c> we</c><00:23:57.039><c> have</c>

00:23:57.750 --> 00:23:57.760 align:start position:0%
pillars in my worldview like if we have
 

00:23:57.760 --> 00:24:00.470 align:start position:0%
pillars in my worldview like if we have
permissionless<00:23:58.919><c> and</c><00:23:59.159><c> distribution</c><00:24:00.039><c> and</c>

00:24:00.470 --> 00:24:00.480 align:start position:0%
permissionless and distribution and
 

00:24:00.480 --> 00:24:02.870 align:start position:0%
permissionless and distribution and
specifically<00:24:01.200><c> geod</c><00:24:01.720><c> decentralization</c><00:24:02.720><c> where</c>

00:24:02.870 --> 00:24:02.880 align:start position:0%
specifically geod decentralization where
 

00:24:02.880 --> 00:24:04.669 align:start position:0%
specifically geod decentralization where
it's<00:24:03.159><c> fair</c><00:24:03.559><c> for</c><00:24:03.720><c> you</c><00:24:03.840><c> to</c><00:24:04.039><c> participate</c><00:24:04.559><c> no</c>

00:24:04.669 --> 00:24:04.679 align:start position:0%
it's fair for you to participate no
 

00:24:04.679 --> 00:24:06.830 align:start position:0%
it's fair for you to participate no
matter<00:24:04.919><c> where</c><00:24:05.039><c> you</c><00:24:05.200><c> stake</c><00:24:06.080><c> I</c><00:24:06.159><c> think</c><00:24:06.400><c> you</c><00:24:06.559><c> get</c>

00:24:06.830 --> 00:24:06.840 align:start position:0%
matter where you stake I think you get
 

00:24:06.840 --> 00:24:09.110 align:start position:0%
matter where you stake I think you get
less<00:24:07.120><c> stake</c><00:24:07.480><c> centralization</c><00:24:08.440><c> so</c><00:24:08.679><c> I</c><00:24:08.760><c> would</c><00:24:08.919><c> say</c>

00:24:09.110 --> 00:24:09.120 align:start position:0%
less stake centralization so I would say
 

00:24:09.120 --> 00:24:10.630 align:start position:0%
less stake centralization so I would say
for<00:24:09.320><c> me</c><00:24:09.520><c> it's</c><00:24:09.679><c> like</c><00:24:09.880><c> Downstream</c><00:24:10.400><c> of</c><00:24:10.520><c> the</c>

00:24:10.630 --> 00:24:10.640 align:start position:0%
for me it's like Downstream of the
 

00:24:10.640 --> 00:24:12.830 align:start position:0%
for me it's like Downstream of the
pillars<00:24:11.600><c> if</c><00:24:11.720><c> you</c><00:24:11.799><c> want</c><00:24:11.919><c> to</c><00:24:12.080><c> slice</c><00:24:12.400><c> it</c><00:24:12.559><c> there</c><00:24:12.760><c> I</c>

00:24:12.830 --> 00:24:12.840 align:start position:0%
pillars if you want to slice it there I
 

00:24:12.840 --> 00:24:14.430 align:start position:0%
pillars if you want to slice it there I
think<00:24:12.960><c> it</c><00:24:13.080><c> is</c><00:24:13.159><c> a</c><00:24:13.320><c> totally</c><00:24:13.720><c> valid</c><00:24:14.080><c> thing</c><00:24:14.240><c> to</c>

00:24:14.430 --> 00:24:14.440 align:start position:0%
think it is a totally valid thing to
 

00:24:14.440 --> 00:24:16.190 align:start position:0%
think it is a totally valid thing to
have<00:24:14.600><c> on</c><00:24:14.720><c> the</c><00:24:14.840><c> table</c><00:24:15.159><c> say</c><00:24:15.400><c> like</c><00:24:15.520><c> we</c><00:24:15.640><c> don't</c><00:24:15.840><c> want</c>

00:24:16.190 --> 00:24:16.200 align:start position:0%
have on the table say like we don't want
 

00:24:16.200 --> 00:24:18.830 align:start position:0%
have on the table say like we don't want
centralization<00:24:17.000><c> into</c><00:24:17.240><c> the</c><00:24:17.360><c> stake</c><00:24:17.679><c> set</c><00:24:18.640><c> all</c>

00:24:18.830 --> 00:24:18.840 align:start position:0%
centralization into the stake set all
 

00:24:18.840 --> 00:24:20.510 align:start position:0%
centralization into the stake set all
right<00:24:19.000><c> we</c><00:24:19.159><c> got</c><00:24:19.320><c> one</c><00:24:19.480><c> minute</c><00:24:19.720><c> more</c><00:24:20.000><c> let's</c><00:24:20.240><c> try</c>

00:24:20.510 --> 00:24:20.520 align:start position:0%
right we got one minute more let's try
 

00:24:20.520 --> 00:24:23.310 align:start position:0%
right we got one minute more let's try
one<00:24:20.799><c> last</c><00:24:21.039><c> question</c><00:24:21.360><c> with</c><00:24:21.559><c> six</c><00:24:21.840><c> up</c><00:24:22.080><c> votes</c><00:24:22.760><c> te</c>

00:24:23.310 --> 00:24:23.320 align:start position:0%
one last question with six up votes te
 

00:24:23.320 --> 00:24:25.430 align:start position:0%
one last question with six up votes te
solve<00:24:23.760><c> every</c><00:24:24.080><c> problem</c><00:24:24.440><c> that</c><00:24:24.600><c> was</c><00:24:24.840><c> previously</c>

00:24:25.430 --> 00:24:25.440 align:start position:0%
solve every problem that was previously
 

00:24:25.440 --> 00:24:27.070 align:start position:0%
solve every problem that was previously
described<00:24:25.919><c> in</c><00:24:26.039><c> the</c><00:24:26.240><c> programmable</c>

00:24:27.070 --> 00:24:27.080 align:start position:0%
described in the programmable
 

00:24:27.080 --> 00:24:29.389 align:start position:0%
described in the programmable
cryptography<00:24:27.799><c> session</c><00:24:28.679><c> why</c><00:24:28.840><c> aren't</c><00:24:29.159><c> more</c>

00:24:29.389 --> 00:24:29.399 align:start position:0%
cryptography session why aren't more
 

00:24:29.399 --> 00:24:31.470 align:start position:0%
cryptography session why aren't more
people<00:24:29.799><c> promoting</c><00:24:30.320><c> them</c><00:24:30.799><c> not</c><00:24:30.960><c> only</c><00:24:31.159><c> do</c><00:24:31.320><c> they</c>

00:24:31.470 --> 00:24:31.480 align:start position:0%
people promoting them not only do they
 

00:24:31.480 --> 00:24:33.029 align:start position:0%
people promoting them not only do they
solve<00:24:31.760><c> all</c><00:24:31.880><c> the</c><00:24:32.039><c> problems</c><00:24:32.440><c> but</c><00:24:32.559><c> you</c><00:24:32.640><c> can</c><00:24:32.799><c> use</c>

00:24:33.029 --> 00:24:33.039 align:start position:0%
solve all the problems but you can use
 

00:24:33.039 --> 00:24:34.590 align:start position:0%
solve all the problems but you can use
them<00:24:33.360><c> together</c><00:24:33.679><c> to</c><00:24:33.799><c> give</c><00:24:33.919><c> you</c><00:24:34.080><c> defense</c><00:24:34.360><c> in</c>

00:24:34.590 --> 00:24:34.600 align:start position:0%
them together to give you defense in
 

00:24:34.600 --> 00:24:36.389 align:start position:0%
them together to give you defense in
depth<00:24:34.880><c> to</c><00:24:35.039><c> give</c><00:24:35.120><c> you</c><00:24:35.279><c> various</c><00:24:35.640><c> optimizations</c>

00:24:36.389 --> 00:24:36.399 align:start position:0%
depth to give you various optimizations
 

00:24:36.399 --> 00:24:38.190 align:start position:0%
depth to give you various optimizations
and<00:24:36.600><c> things</c><00:24:36.840><c> like</c><00:24:37.080><c> that</c><00:24:37.559><c> we're</c><00:24:37.720><c> building</c><00:24:38.080><c> like</c>

00:24:38.190 --> 00:24:38.200 align:start position:0%
and things like that we're building like
 

00:24:38.200 --> 00:24:40.269 align:start position:0%
and things like that we're building like
a<00:24:38.320><c> lot</c><00:24:38.440><c> of</c><00:24:38.600><c> stacks</c><00:24:39.039><c> to</c><00:24:39.200><c> help</c><00:24:39.440><c> people</c><00:24:39.679><c> do</c><00:24:39.919><c> that</c>

00:24:40.269 --> 00:24:40.279 align:start position:0%
a lot of stacks to help people do that
 

00:24:40.279 --> 00:24:42.230 align:start position:0%
a lot of stacks to help people do that
so<00:24:40.880><c> I</c><00:24:40.960><c> think</c><00:24:41.080><c> a</c><00:24:41.159><c> lot</c><00:24:41.279><c> of</c><00:24:41.399><c> people</c><00:24:41.600><c> are</c><00:24:41.840><c> promoting</c>

00:24:42.230 --> 00:24:42.240 align:start position:0%
so I think a lot of people are promoting
 

00:24:42.240 --> 00:24:44.149 align:start position:0%
so I think a lot of people are promoting
them<00:24:42.480><c> I</c><00:24:42.559><c> think</c><00:24:42.720><c> people</c><00:24:42.919><c> are</c><00:24:43.159><c> afraid</c><00:24:43.880><c> I</c><00:24:43.960><c> think</c>

00:24:44.149 --> 00:24:44.159 align:start position:0%
them I think people are afraid I think
 

00:24:44.159 --> 00:24:45.950 align:start position:0%
them I think people are afraid I think
people<00:24:44.480><c> in</c><00:24:44.640><c> crypto</c><00:24:45.120><c> and</c><00:24:45.240><c> in</c><00:24:45.440><c> life</c><00:24:45.640><c> and</c><00:24:45.799><c> in</c>

00:24:45.950 --> 00:24:45.960 align:start position:0%
people in crypto and in life and in
 

00:24:45.960 --> 00:24:48.590 align:start position:0%
people in crypto and in life and in
general<00:24:46.640><c> they</c><00:24:46.799><c> love</c><00:24:47.080><c> binaries</c><00:24:47.919><c> either</c><00:24:48.159><c> tees</c>

00:24:48.590 --> 00:24:48.600 align:start position:0%
general they love binaries either tees
 

00:24:48.600 --> 00:24:50.269 align:start position:0%
general they love binaries either tees
are<00:24:48.799><c> broken</c><00:24:49.240><c> and</c><00:24:49.360><c> they're</c><00:24:49.559><c> useless</c><00:24:50.000><c> they're</c>

00:24:50.269 --> 00:24:50.279 align:start position:0%
are broken and they're useless they're
 

00:24:50.279 --> 00:24:52.110 align:start position:0%
are broken and they're useless they're
garbage<00:24:50.679><c> we</c><00:24:50.760><c> need</c><00:24:50.880><c> to</c><00:24:51.000><c> burn</c><00:24:51.240><c> them</c><00:24:51.440><c> down</c><00:24:51.919><c> or</c>

00:24:52.110 --> 00:24:52.120 align:start position:0%
garbage we need to burn them down or
 

00:24:52.120 --> 00:24:53.710 align:start position:0%
garbage we need to burn them down or
they're<00:24:52.360><c> the</c><00:24:52.520><c> best</c><00:24:52.720><c> thing</c><00:24:52.880><c> ever</c><00:24:53.320><c> and</c><00:24:53.520><c> like</c>

00:24:53.710 --> 00:24:53.720 align:start position:0%
they're the best thing ever and like
 

00:24:53.720 --> 00:24:55.870 align:start position:0%
they're the best thing ever and like
they<00:24:53.960><c> cast</c><00:24:54.399><c> every</c><00:24:54.679><c> opinion</c><00:24:54.960><c> on</c><00:24:55.120><c> te</c><00:24:55.559><c> into</c><00:24:55.760><c> one</c>

00:24:55.870 --> 00:24:55.880 align:start position:0%
they cast every opinion on te into one
 

00:24:55.880 --> 00:24:57.950 align:start position:0%
they cast every opinion on te into one
of<00:24:56.039><c> these</c><00:24:56.200><c> two</c><00:24:56.399><c> buckets</c><00:24:57.200><c> the</c><00:24:57.360><c> reality</c><00:24:57.679><c> is</c><00:24:57.840><c> much</c>

00:24:57.950 --> 00:24:57.960 align:start position:0%
of these two buckets the reality is much
 

00:24:57.960 --> 00:24:59.669 align:start position:0%
of these two buckets the reality is much
more<00:24:58.480><c> wants</c><00:24:58.679><c> they</c><00:24:58.799><c> make</c><00:24:58.960><c> sense</c><00:24:59.200><c> for</c><00:24:59.320><c> a</c><00:24:59.440><c> lot</c><00:24:59.559><c> of</c>

00:24:59.669 --> 00:24:59.679 align:start position:0%
more wants they make sense for a lot of
 

00:24:59.679 --> 00:25:02.149 align:start position:0%
more wants they make sense for a lot of
applications<00:25:00.320><c> they</c><00:25:00.440><c> don't</c><00:25:00.679><c> for</c><00:25:00.880><c> many</c><00:25:01.159><c> others</c>

00:25:02.149 --> 00:25:02.159 align:start position:0%
applications they don't for many others
 

00:25:02.159 --> 00:25:03.870 align:start position:0%
applications they don't for many others
um<00:25:02.399><c> I</c><00:25:02.480><c> think</c><00:25:02.679><c> people</c><00:25:02.960><c> are</c><00:25:03.320><c> promoting</c><00:25:03.720><c> and</c>

00:25:03.870 --> 00:25:03.880 align:start position:0%
um I think people are promoting and
 

00:25:03.880 --> 00:25:05.870 align:start position:0%
um I think people are promoting and
using<00:25:04.200><c> them</c><00:25:04.360><c> and</c><00:25:04.480><c> seeing</c><00:25:04.880><c> success</c><00:25:05.279><c> using</c><00:25:05.600><c> them</c>

00:25:05.870 --> 00:25:05.880 align:start position:0%
using them and seeing success using them
 

00:25:05.880 --> 00:25:07.710 align:start position:0%
using them and seeing success using them
actually<00:25:06.559><c> basically</c><00:25:06.960><c> everywhere</c><00:25:07.360><c> they</c><00:25:07.480><c> make</c>

00:25:07.710 --> 00:25:07.720 align:start position:0%
actually basically everywhere they make
 

00:25:07.720 --> 00:25:09.950 align:start position:0%
actually basically everywhere they make
sense<00:25:08.360><c> um</c><00:25:08.559><c> so</c><00:25:08.760><c> I</c><00:25:08.880><c> do</c><00:25:09.039><c> think</c><00:25:09.200><c> you</c><00:25:09.320><c> will</c><00:25:09.480><c> see</c><00:25:09.720><c> more</c>

00:25:09.950 --> 00:25:09.960 align:start position:0%
sense um so I do think you will see more
 

00:25:09.960 --> 00:25:11.909 align:start position:0%
sense um so I do think you will see more
people<00:25:10.559><c> promoting</c><00:25:11.000><c> and</c><00:25:11.159><c> using</c><00:25:11.480><c> them</c><00:25:11.679><c> over</c>

00:25:11.909 --> 00:25:11.919 align:start position:0%
people promoting and using them over
 

00:25:11.919 --> 00:25:13.590 align:start position:0%
people promoting and using them over
time<00:25:12.360><c> definitely</c><00:25:12.760><c> in</c><00:25:12.919><c> time</c><00:25:13.039><c> to</c><00:25:13.200><c> come</c><00:25:13.399><c> ladies</c>

00:25:13.590 --> 00:25:13.600 align:start position:0%
time definitely in time to come ladies
 

00:25:13.600 --> 00:25:14.630 align:start position:0%
time definitely in time to come ladies
and<00:25:13.679><c> Gentlemen</c><00:25:13.960><c> let's</c><00:25:14.080><c> give</c><00:25:14.200><c> our</c><00:25:14.399><c> speaker</c>

00:25:14.630 --> 00:25:14.640 align:start position:0%
and Gentlemen let's give our speaker
 

00:25:14.640 --> 00:25:16.470 align:start position:0%
and Gentlemen let's give our speaker
another<00:25:14.919><c> big</c><00:25:15.080><c> big</c><00:25:15.279><c> round</c><00:25:15.440><c> of</c><00:25:15.559><c> applause</c><00:25:16.360><c> thank</c>

00:25:16.470 --> 00:25:16.480 align:start position:0%
another big big round of applause thank
 

00:25:16.480 --> 00:25:19.960 align:start position:0%
another big big round of applause thank
you<00:25:16.600><c> very</c><00:25:16.720><c> much</c><00:25:16.960><c> Phillip</c>