WEBVTT Kind: captions Language: en 00:00:01.160 --> 00:00:06.690 align:start position:0% [Music] 00:00:06.690 --> 00:00:06.700 align:start position:0% 00:00:06.700 --> 00:00:11.030 align:start position:0% [Music] 00:00:11.030 --> 00:00:11.040 align:start position:0% [Music] 00:00:11.040 --> 00:00:14.869 align:start position:0% [Music] hello<00:00:11.799> everyone<00:00:12.799> good<00:00:12.960> to<00:00:13.120> see<00:00:13.280> you<00:00:13.400> all<00:00:13.879> today 00:00:14.869 --> 00:00:14.879 align:start position:0% hello everyone good to see you all today 00:00:14.879 --> 00:00:18.230 align:start position:0% hello everyone good to see you all today uh<00:00:15.120> I<00:00:15.200> want<00:00:15.320> to<00:00:15.599> start<00:00:16.000> off<00:00:16.240> by<00:00:16.600> asking<00:00:17.600> who<00:00:17.920> is 00:00:18.230 --> 00:00:18.240 align:start position:0% uh I want to start off by asking who is 00:00:18.240 --> 00:00:20.950 align:start position:0% uh I want to start off by asking who is here<00:00:19.199> from<00:00:19.480> the<00:00:19.680> continent<00:00:20.160> of<00:00:20.400> Africa<00:00:20.800> can 00:00:20.950 --> 00:00:20.960 align:start position:0% here from the continent of Africa can 00:00:20.960 --> 00:00:22.790 align:start position:0% here from the continent of Africa can you<00:00:21.080> please<00:00:21.279> raise<00:00:21.519> your<00:00:21.720> hand<00:00:22.359> can<00:00:22.480> you<00:00:22.640> guys 00:00:22.790 --> 00:00:22.800 align:start position:0% you please raise your hand can you guys 00:00:22.800 --> 00:00:25.230 align:start position:0% you please raise your hand can you guys please<00:00:23.039> stand<00:00:23.599> up<00:00:24.599> can<00:00:24.720> you<00:00:24.840> guys<00:00:25.039> please 00:00:25.230 --> 00:00:25.240 align:start position:0% please stand up can you guys please 00:00:25.240 --> 00:00:26.830 align:start position:0% please stand up can you guys please stand<00:00:25.480> up<00:00:25.760> let's<00:00:26.000> give<00:00:26.119> this<00:00:26.320> guys<00:00:26.480> a<00:00:26.640> big 00:00:26.830 --> 00:00:26.840 align:start position:0% stand up let's give this guys a big 00:00:26.840 --> 00:00:29.189 align:start position:0% stand up let's give this guys a big round<00:00:27.039> of<00:00:27.199> applause<00:00:27.720> because<00:00:28.519> like<00:00:28.800> many<00:00:29.080> of 00:00:29.189 --> 00:00:29.199 align:start position:0% round of applause because like many of 00:00:29.199 --> 00:00:30.470 align:start position:0% round of applause because like many of our<00:00:29.400> folks 00:00:30.470 --> 00:00:30.480 align:start position:0% our folks 00:00:30.480 --> 00:00:33.350 align:start position:0% our folks have<00:00:30.720> gone<00:00:30.920> through<00:00:31.439> crazy<00:00:32.040> lengths<00:00:32.840> to<00:00:33.000> get 00:00:33.350 --> 00:00:33.360 align:start position:0% have gone through crazy lengths to get 00:00:33.360 --> 00:00:34.590 align:start position:0% have gone through crazy lengths to get themselves<00:00:33.640> here<00:00:33.840> with<00:00:34.000> visas<00:00:34.399> and 00:00:34.590 --> 00:00:34.600 align:start position:0% themselves here with visas and 00:00:34.600 --> 00:00:37.709 align:start position:0% themselves here with visas and everything<00:00:35.520> and<00:00:35.960> this<00:00:36.079> is<00:00:36.399> the<00:00:36.960> Defcon<00:00:37.559> that 00:00:37.709 --> 00:00:37.719 align:start position:0% everything and this is the Defcon that 00:00:37.719 --> 00:00:40.630 align:start position:0% everything and this is the Defcon that has<00:00:37.960> the<00:00:38.399> largest<00:00:39.399> uh<00:00:39.640> African<00:00:40.039> Builder 00:00:40.630 --> 00:00:40.640 align:start position:0% has the largest uh African Builder 00:00:40.640 --> 00:00:43.990 align:start position:0% has the largest uh African Builder concentration<00:00:41.280> in<00:00:41.480> one<00:00:41.800> place<00:00:42.800> um<00:00:43.280> and<00:00:43.760> my 00:00:43.990 --> 00:00:44.000 align:start position:0% concentration in one place um and my 00:00:44.000 --> 00:00:46.590 align:start position:0% concentration in one place um and my talk<00:00:44.239> today<00:00:44.680> is<00:00:44.879> around<00:00:45.680> what<00:00:45.960> can<00:00:46.079> we<00:00:46.280> expect 00:00:46.590 --> 00:00:46.600 align:start position:0% talk today is around what can we expect 00:00:46.600 --> 00:00:48.790 align:start position:0% talk today is around what can we expect over<00:00:46.800> the<00:00:46.920> next<00:00:47.120> 10<00:00:47.399> years<00:00:47.840> in<00:00:47.960> terms<00:00:48.320> of 00:00:48.790 --> 00:00:48.800 align:start position:0% over the next 10 years in terms of 00:00:48.800 --> 00:00:51.310 align:start position:0% over the next 10 years in terms of crypto<00:00:49.239> Innovation<00:00:50.239> and<00:00:50.480> is<00:00:50.680> very<00:00:50.879> much 00:00:51.310 --> 00:00:51.320 align:start position:0% crypto Innovation and is very much 00:00:51.320 --> 00:00:53.630 align:start position:0% crypto Innovation and is very much inspired<00:00:52.320> by<00:00:52.559> a<00:00:52.680> lot<00:00:52.800> of<00:00:52.960> what<00:00:53.079> I<00:00:53.160> have<00:00:53.320> learned 00:00:53.630 --> 00:00:53.640 align:start position:0% inspired by a lot of what I have learned 00:00:53.640 --> 00:00:56.349 align:start position:0% inspired by a lot of what I have learned from<00:00:54.039> all<00:00:54.280> these<00:00:54.440> folks<00:00:54.800> and<00:00:55.000> many<00:00:55.239> more<00:00:56.000> of 00:00:56.349 --> 00:00:56.359 align:start position:0% from all these folks and many more of 00:00:56.359 --> 00:00:57.630 align:start position:0% from all these folks and many more of what<00:00:56.480> are<00:00:56.600> the<00:00:56.719> things<00:00:56.920> that<00:00:57.039> have<00:00:57.160> been<00:00:57.320> built 00:00:57.630 --> 00:00:57.640 align:start position:0% what are the things that have been built 00:00:57.640 --> 00:01:00.869 align:start position:0% what are the things that have been built today<00:00:58.039> and<00:00:58.239> what<00:00:58.399> can<00:00:58.559> we<00:00:58.840> expect<00:00:59.239> coming<00:00:59.519> up 00:01:00.869 --> 00:01:00.879 align:start position:0% today and what can we expect coming up 00:01:00.879 --> 00:01:04.189 align:start position:0% today and what can we expect coming up so<00:01:01.440> two<00:01:01.680> years<00:01:01.960> ago<00:01:02.280> at<00:01:02.719> Defcon<00:01:03.719> we 00:01:04.189 --> 00:01:04.199 align:start position:0% so two years ago at Defcon we 00:01:04.199 --> 00:01:08.070 align:start position:0% so two years ago at Defcon we established<00:01:05.199> the<00:01:05.439> fact<00:01:06.320> that<00:01:07.320> it's<00:01:07.600> actually 00:01:08.070 --> 00:01:08.080 align:start position:0% established the fact that it's actually 00:01:08.080 --> 00:01:10.310 align:start position:0% established the fact that it's actually the<00:01:08.240> crypto<00:01:08.680> ecosystem<00:01:09.400> that<00:01:09.520> needs<00:01:09.920> Africa 00:01:10.310 --> 00:01:10.320 align:start position:0% the crypto ecosystem that needs Africa 00:01:10.320 --> 00:01:12.710 align:start position:0% the crypto ecosystem that needs Africa to<00:01:10.479> reach<00:01:10.680> its<00:01:10.840> full<00:01:11.119> potential<00:01:12.080> of<00:01:12.280> reaching 00:01:12.710 --> 00:01:12.720 align:start position:0% to reach its full potential of reaching 00:01:12.720 --> 00:01:15.550 align:start position:0% to reach its full potential of reaching Mass<00:01:13.080> adoption<00:01:13.880> and<00:01:14.119> utility<00:01:14.720> driven 00:01:15.550 --> 00:01:15.560 align:start position:0% Mass adoption and utility driven 00:01:15.560 --> 00:01:17.950 align:start position:0% Mass adoption and utility driven building<00:01:16.400> to<00:01:16.640> scale<00:01:17.000> it<00:01:17.119> to<00:01:17.320> billions<00:01:17.680> of 00:01:17.950 --> 00:01:17.960 align:start position:0% building to scale it to billions of 00:01:17.960 --> 00:01:20.789 align:start position:0% building to scale it to billions of people<00:01:18.960> and<00:01:19.119> we<00:01:19.320> covered<00:01:19.680> the<00:01:19.880> fact<00:01:20.240> that<00:01:20.680> we 00:01:20.789 --> 00:01:20.799 align:start position:0% people and we covered the fact that we 00:01:20.799 --> 00:01:22.749 align:start position:0% people and we covered the fact that we are<00:01:21.040> the<00:01:21.200> most<00:01:21.520> populist<00:01:22.040> part<00:01:22.200> of<00:01:22.320> the<00:01:22.439> world 00:01:22.749 --> 00:01:22.759 align:start position:0% are the most populist part of the world 00:01:22.759 --> 00:01:25.030 align:start position:0% are the most populist part of the world and<00:01:22.880> we're<00:01:23.119> growing<00:01:23.520> really<00:01:23.799> fast<00:01:24.759> that<00:01:24.880> is 00:01:25.030 --> 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even today we have about 600 million 00:01:30.720 --> 00:01:34.310 align:start position:0% even today we have about 600 million Africans<00:01:31.159> who<00:01:31.320> are<00:01:31.560> the<00:01:32.159> under<00:01:32.399> the<00:01:32.560> age<00:01:32.799> of<00:01:33.320> 14 00:01:34.310 --> 00:01:34.320 align:start position:0% Africans who are the under the age of 14 00:01:34.320 --> 00:01:37.310 align:start position:0% Africans who are the under the age of 14 that's<00:01:34.560> out<00:01:34.720> of<00:01:34.920> 1.5<00:01:35.560> billion<00:01:36.000> people<00:01:36.960> and<00:01:37.119> we 00:01:37.310 --> 00:01:37.320 align:start position:0% that's out of 1.5 billion people and we 00:01:37.320 --> 00:01:39.550 align:start position:0% that's out of 1.5 billion people and we also<00:01:37.640> discussed<00:01:38.200> around<00:01:38.799> the<00:01:39.040> technology 00:01:39.550 --> 00:01:39.560 align:start position:0% also discussed around the technology 00:01:39.560 --> 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or<00:01:48.439> mobile<00:01:48.799> money<00:01:49.560> where<00:01:49.840> that<00:01:50.000> has<00:01:50.280> close<00:01:50.520> to 00:01:50.749 --> 00:01:50.759 align:start position:0% or mobile money where that has close to 00:01:50.759 --> 00:01:52.749 align:start position:0% or mobile money where that has close to trillion<00:01:51.240> bill<00:01:51.680> trillion<00:01:52.119> dollars<00:01:52.399> worth<00:01:52.600> of 00:01:52.749 --> 00:01:52.759 align:start position:0% trillion bill trillion dollars worth of 00:01:52.759 --> 00:01:55.950 align:start position:0% trillion bill trillion dollars worth of transactions<00:01:53.320> a<00:01:53.520> year<00:01:54.280> um<00:01:54.759> and<00:01:54.920> we're<00:01:55.159> jumping 00:01:55.950 --> 00:01:55.960 align:start position:0% transactions a year um and we're jumping 00:01:55.960 --> 00:01:58.109 align:start position:0% transactions a year um and we're jumping traditional<00:01:56.479> banking<00:01:56.880> with 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position:0% platforms but we kind of figured a way to<00:02:23.360> do<00:02:23.640> that<00:02:24.000> by<00:02:24.319> having<00:02:24.640> various<00:02:24.959> liquidity 00:02:25.430 --> 00:02:25.440 align:start position:0% to do that by having various liquidity 00:02:25.440 --> 00:02:27.509 align:start position:0% to do that by having various liquidity providers<00:02:25.959> like<00:02:26.120> people<00:02:26.400> like<00:02:26.560> you<00:02:26.720> and<00:02:26.920> I 00:02:27.509 --> 00:02:27.519 align:start position:0% providers like people like you and I 00:02:27.519 --> 00:02:28.949 align:start position:0% providers like people like you and I providing<00:02:27.920> liquidity<00:02:28.400> on<00:02:28.599> peer-to-peer 00:02:28.949 --> 00:02:28.959 align:start position:0% providing liquidity on peer-to-peer 00:02:28.959 --> 00:02:32.110 align:start position:0% providing liquidity on peer-to-peer exchanges<00:02:30.040> to<00:02:30.360> drive<00:02:30.800> a<00:02:30.920> lot<00:02:31.080> of<00:02:31.599> a<00:02:31.680> lot<00:02:31.840> of<00:02:31.959> the 00:02:32.110 --> 00:02:32.120 align:start position:0% exchanges to drive a lot of a lot of the 00:02:32.120 --> 00:02:34.790 align:start position:0% exchanges to drive a lot of a lot of the value<00:02:32.519> for<00:02:33.200> normal<00:02:33.680> people<00:02:34.000> to<00:02:34.280> access 00:02:34.790 --> 00:02:34.800 align:start position:0% value for normal people to access 00:02:34.800 --> 00:02:37.070 align:start position:0% value for normal people to access traditional<00:02:35.560> forms<00:02:35.879> of<00:02:36.040> banking<00:02:36.480> that<00:02:36.640> we 00:02:37.070 --> 00:02:37.080 align:start position:0% traditional forms of banking that we 00:02:37.080 --> 00:02:40.229 align:start position:0% traditional forms of banking that we need<00:02:38.080> so<00:02:38.720> where<00:02:38.879> are<00:02:39.080> we<00:02:39.280> today<00:02:39.680> two<00:02:39.920> years 00:02:40.229 --> 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of<00:02:58.519> value<00:02:58.920> which<00:02:59.080> is 00:02:59.270 --> 00:02:59.280 align:start position:0% flow communication of value which is 00:02:59.280 --> 00:03:01.550 align:start position:0% flow communication of value which is through<00:02:59.519> mon<00:03:00.120> systems<00:03:00.760> are<00:03:01.000> actually<00:03:01.360> very 00:03:01.550 --> 00:03:01.560 align:start position:0% through mon systems are actually very 00:03:01.560 --> 00:03:04.110 align:start position:0% through mon systems are actually very much<00:03:01.800> gated<00:03:02.760> the<00:03:02.879> internet<00:03:03.319> continues<00:03:03.720> to<00:03:03.840> be 00:03:04.110 --> 00:03:04.120 align:start position:0% much gated the internet continues to be 00:03:04.120 --> 00:03:07.149 align:start position:0% much gated the internet continues to be very<00:03:04.440> gated<00:03:05.440> the<00:03:05.599> same<00:03:05.920> way<00:03:06.440> back<00:03:06.599> in<00:03:06.720> the<00:03:06.879> days 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we trust 00:03:14.080 --> 00:03:16.270 align:start position:0% the other side and seeing can we trust the<00:03:14.239> other<00:03:14.560> operator<00:03:15.560> that's<00:03:15.840> the<00:03:16.000> same 00:03:16.270 --> 00:03:16.280 align:start position:0% the other operator that's the same 00:03:16.280 --> 00:03:18.990 align:start position:0% the other operator that's the same process<00:03:16.599> that<00:03:16.760> we<00:03:16.920> have<00:03:17.159> today<00:03:18.080> so<00:03:18.640> we<00:03:18.760> are 00:03:18.990 --> 00:03:19.000 align:start position:0% process that we have today so we are 00:03:19.000 --> 00:03:20.830 align:start position:0% process that we have today so we are still<00:03:19.560> working<00:03:19.959> through<00:03:20.200> walls<00:03:20.560> in<00:03:20.680> the 00:03:20.830 --> 00:03:20.840 align:start position:0% still working through walls in the 00:03:20.840 --> 00:03:21.990 align:start position:0% still working through walls in the traditional 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microenterprises uh a huge part of our employment<00:03:40.120> is<00:03:40.280> in<00:03:40.480> the<00:03:40.599> informal<00:03:41.120> economy<00:03:41.959> a 00:03:42.070 --> 00:03:42.080 align:start position:0% employment is in the informal economy a 00:03:42.080 --> 00:03:45.149 align:start position:0% employment is in the informal economy a huge<00:03:42.360> part<00:03:42.519> of<00:03:42.640> our<00:03:42.840> GDP<00:03:43.400> is<00:03:43.560> also<00:03:43.799> drived<00:03:44.720> uh 00:03:45.149 --> 00:03:45.159 align:start position:0% huge part of our GDP is also drived uh 00:03:45.159 --> 00:03:47.350 align:start position:0% huge part of our GDP is also drived uh by<00:03:45.319> by<00:03:45.439> the<00:03:45.560> informal<00:03:46.040> economy<00:03:46.439> and<00:03:46.640> also<00:03:47.239> a 00:03:47.350 --> 00:03:47.360 align:start position:0% by by the informal economy and also a 00:03:47.360 --> 00:03:49.229 align:start position:0% by by the informal economy and also a lot<00:03:47.519> of<00:03:47.640> our<00:03:47.840> money<00:03:48.159> movement<00:03:48.799> happens 00:03:49.229 --> 00:03:49.239 align:start position:0% lot of our money movement happens 00:03:49.239 --> 00:03:51.710 align:start position:0% lot of our money movement happens outside<00:03:49.599> of<00:03:49.720> the<00:03:49.840> banking<00:03:50.280> system<00:03:51.280> this<00:03:51.400> is<00:03:51.519> a 00:03:51.710 --> 00:03:51.720 align:start position:0% outside of the banking system this is a 00:03:51.720 --> 00:03:53.509 align:start position:0% outside of the banking system this is a very<00:03:51.959> important<00:03:52.400> context<00:03:52.799> for<00:03:52.959> us<00:03:53.079> to 00:03:53.509 --> 00:03:53.519 align:start position:0% very important context for us to 00:03:53.519 --> 00:03:55.429 align:start position:0% very important context for us to understand<00:03:54.120> why<00:03:54.360> crypto<00:03:54.720> is<00:03:54.799> thriving<00:03:55.239> so 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these<00:04:02.920> numbers<00:04:03.239> are<00:04:03.400> a<00:04:03.480> bit<00:04:03.640> outdated 00:04:04.270 --> 00:04:04.280 align:start position:0% some of these numbers are a bit outdated 00:04:04.280 --> 00:04:06.509 align:start position:0% some of these numbers are a bit outdated but<00:04:04.480> we're<00:04:04.799> importing<00:04:05.319> more<00:04:05.640> than<00:04:05.920> what<00:04:06.360> what 00:04:06.509 --> 00:04:06.519 align:start position:0% but we're importing more than what what 00:04:06.519 --> 00:04:08.789 align:start position:0% but we're importing more than what what we're<00:04:06.840> exporting<00:04:07.840> we're<00:04:08.040> taking<00:04:08.319> a<00:04:08.480> lot<00:04:08.599> of 00:04:08.789 --> 00:04:08.799 align:start position:0% we're exporting we're taking a lot of 00:04:08.799 --> 00:04:10.830 align:start position:0% we're exporting we're taking a lot of debt<00:04:09.360> a<00:04:09.480> lot<00:04:09.599> of<00:04:09.760> African<00:04:10.120> countries<00:04:10.519> debt<00:04:10.720> has 00:04:10.830 --> 00:04:10.840 align:start position:0% debt a lot of African countries debt has 00:04:10.840 --> 00:04:12.710 align:start position:0% debt a lot of African countries debt has doubled<00:04:11.159> in<00:04:11.280> the<00:04:11.360> last<00:04:11.560> 10<00:04:11.799> years<00:04:12.400> and<00:04:12.519> we're 00:04:12.710 --> 00:04:12.720 align:start position:0% doubled in the last 10 years and we're 00:04:12.720 --> 00:04:14.550 align:start position:0% doubled in the last 10 years and we're paying<00:04:13.040> that<00:04:13.239> debt<00:04:13.599> plus<00:04:13.920> interest<00:04:14.319> in 00:04:14.550 --> 00:04:14.560 align:start position:0% paying that debt plus interest in 00:04:14.560 --> 00:04:16.749 align:start position:0% paying that debt plus interest in dollars<00:04:15.480> and<00:04:15.879> we're<00:04:16.079> trading<00:04:16.440> with<00:04:16.639> each 00:04:16.749 --> 00:04:16.759 align:start position:0% dollars and we're trading with each 00:04:16.759 --> 00:04:20.789 align:start position:0% dollars and we're trading with each other<00:04:17.040> as<00:04:17.239> neighbors<00:04:17.959> using<00:04:18.440> dollars<00:04:19.440> um<00:04:20.120> and 00:04:20.789 --> 00:04:20.799 align:start position:0% other as neighbors using dollars um and 00:04:20.799 --> 00:04:22.790 align:start position:0% other as neighbors using dollars um and when<00:04:21.199> our<00:04:21.440> currencies<00:04:21.880> fluctuate<00:04:22.440> so<00:04:22.600> much 00:04:22.790 --> 00:04:22.800 align:start position:0% when our currencies fluctuate so much 00:04:22.800 --> 00:04:24.990 align:start position:0% when our currencies fluctuate so much then<00:04:22.960> we<00:04:23.120> move<00:04:23.320> our<00:04:23.440> money<00:04:23.800> to<00:04:24.080> Dollar<00:04:24.479> so<00:04:24.680> that 00:04:24.990 --> 00:04:25.000 align:start position:0% then we move our money to Dollar so that 00:04:25.000 --> 00:04:27.510 align:start position:0% then we move our money to Dollar so that creates<00:04:25.400> a<00:04:25.560> demand<00:04:25.919> Supply<00:04:26.759> and<00:04:27.040> and<00:04:27.199> and<00:04:27.320> on 00:04:27.510 --> 00:04:27.520 align:start position:0% creates a demand Supply and and and on 00:04:27.520 --> 00:04:29.990 align:start position:0% creates a demand Supply and and and on the<00:04:28.080> uh<00:04:28.199> supply<00:04:28.600> pressure<00:04:29.280> we<00:04:29.479> have<00:04:29.759> have<00:04:29.919> a 00:04:29.990 --> 00:04:30.000 align:start position:0% the uh supply pressure we have have a 00:04:30.000 --> 00:04:31.990 align:start position:0% the uh supply pressure we have have a lot<00:04:30.120> of<00:04:30.320> exports<00:04:30.840> remittance<00:04:31.400> people<00:04:31.600> sending 00:04:31.990 --> 00:04:32.000 align:start position:0% lot of exports remittance people sending 00:04:32.000 --> 00:04:33.990 align:start position:0% lot of exports remittance people sending money<00:04:32.639> there's<00:04:32.800> a<00:04:33.039> thing<00:04:33.240> called<00:04:33.479> brick<00:04:33.880> some 00:04:33.990 --> 00:04:34.000 align:start position:0% money there's a thing called brick some 00:04:34.000 --> 00:04:36.270 align:start position:0% money there's a thing called brick some of<00:04:34.120> you<00:04:34.320> guys<00:04:34.479> might<00:04:34.680> know<00:04:34.880> about<00:04:35.080> it<00:04:35.360> around 00:04:36.270 --> 00:04:36.280 align:start position:0% of you guys might know about it around 00:04:36.280 --> 00:04:37.950 align:start position:0% of you guys might know about it around some<00:04:36.560> countries<00:04:36.960> deciding<00:04:37.320> to<00:04:37.440> settle 00:04:37.950 --> 00:04:37.960 align:start position:0% some countries deciding to settle 00:04:37.960 --> 00:04:39.749 align:start position:0% some countries deciding to settle outside<00:04:38.280> of<00:04:38.400> the<00:04:38.520> dollar<00:04:38.840> system<00:04:39.240> which<00:04:39.360> is 00:04:39.749 --> 00:04:39.759 align:start position:0% outside of the dollar system which is 00:04:39.759 --> 00:04:41.270 align:start position:0% outside of the dollar system which is creating<00:04:40.120> a<00:04:40.280> bit<00:04:40.479> less<00:04:40.720> pressure<00:04:41.000> on<00:04:41.160> the 00:04:41.270 --> 00:04:41.280 align:start position:0% creating a bit less pressure on the 00:04:41.280 --> 00:04:43.029 align:start position:0% creating a bit less pressure on the dollar<00:04:41.880> and<00:04:42.000> there's<00:04:42.199> a<00:04:42.320> lot<00:04:42.479> of<00:04:42.639> Aid<00:04:42.880> and 00:04:43.029 --> 00:04:43.039 align:start position:0% dollar and there's a lot of Aid and 00:04:43.039 --> 00:04:45.790 align:start position:0% dollar and there's a lot of Aid and loans<00:04:43.360> that<00:04:43.560> come<00:04:43.680> in<00:04:44.000> do<00:04:44.280> dollars<00:04:45.280> so<00:04:45.479> what<00:04:45.680> is 00:04:45.790 --> 00:04:45.800 align:start position:0% loans that come in do dollars so what is 00:04:45.800 --> 00:04:48.029 align:start position:0% loans that come in do dollars so what is the<00:04:46.000> consequence<00:04:46.479> of<00:04:46.680> this<00:04:47.000> is<00:04:47.240> that 00:04:48.029 --> 00:04:48.039 align:start position:0% the consequence of this is that 00:04:48.039 --> 00:04:50.070 align:start position:0% the consequence of this is that basically<00:04:49.039> the<00:04:49.160> US<00:04:49.440> dollars<00:04:49.759> are<00:04:49.880> being 00:04:50.070 --> 00:04:50.080 align:start position:0% basically the US dollars are being 00:04:50.080 --> 00:04:52.670 align:start position:0% basically the US dollars are being rationed<00:04:50.639> by<00:04:50.759> the<00:04:50.880> central<00:04:51.240> banks<00:04:52.240> the<00:04:52.400> demand 00:04:52.670 --> 00:04:52.680 align:start position:0% rationed by the central banks the demand 00:04:52.680 --> 00:04:54.270 align:start position:0% rationed by the central banks the demand for<00:04:52.840> dollars<00:04:53.160> is<00:04:53.360> higher<00:04:53.680> than<00:04:53.919> what<00:04:54.080> they 00:04:54.270 --> 00:04:54.280 align:start position:0% for dollars is higher than what they 00:04:54.280 --> 00:04:57.350 align:start position:0% for dollars is higher than what they have<00:04:55.120> there<00:04:55.639> so<00:04:56.199> what<00:04:56.320> you<00:04:56.479> end<00:04:56.639> up<00:04:56.880> having<00:04:57.240> is 00:04:57.350 --> 00:04:57.360 align:start position:0% have there so what you end up having is 00:04:57.360 --> 00:05:00.990 align:start position:0% have there so what you end up having is the<00:04:58.000> bifurcation<00:04:59.000> of<00:04:59.440> the<00:04:59.759> bank<00:05:00.039> rate<00:05:00.720> and<00:05:00.880> the 00:05:00.990 --> 00:05:01.000 align:start position:0% the bifurcation of the bank rate and the 00:05:01.000 --> 00:05:03.270 align:start position:0% the bifurcation of the bank rate and the black<00:05:01.280> market<00:05:01.639> rate<00:05:01.919> or<00:05:02.240> how<00:05:02.400> I<00:05:02.560> call<00:05:02.759> it<00:05:03.120> the 00:05:03.270 --> 00:05:03.280 align:start position:0% black market rate or how I call it the 00:05:03.280 --> 00:05:06.070 align:start position:0% black market rate or how I call it the actual<00:05:03.600> market<00:05:03.919> rate<00:05:04.800> um<00:05:05.240> and<00:05:05.520> in<00:05:05.720> worst 00:05:06.070 --> 00:05:06.080 align:start position:0% actual market rate um and in worst 00:05:06.080 --> 00:05:08.110 align:start position:0% actual market rate um and in worst economies<00:05:06.520> you<00:05:06.639> see<00:05:06.919> that<00:05:07.080> being<00:05:07.360> very<00:05:07.680> large 00:05:08.110 --> 00:05:08.120 align:start position:0% economies you see that being very large 00:05:08.120 --> 00:05:09.790 align:start position:0% economies you see that being very large in<00:05:08.280> well-managed<00:05:08.759> economies<00:05:09.360> it's<00:05:09.600> very 00:05:09.790 --> 00:05:09.800 align:start position:0% in well-managed economies it's very 00:05:09.800 --> 00:05:12.110 align:start position:0% in well-managed economies it's very small<00:05:10.199> but<00:05:10.560> we're<00:05:10.759> living<00:05:11.120> in<00:05:11.440> in<00:05:11.639> parallel 00:05:12.110 --> 00:05:12.120 align:start position:0% small but we're living in in parallel 00:05:12.120 --> 00:05:14.990 align:start position:0% small but we're living in in parallel systems<00:05:13.039> and<00:05:13.520> also<00:05:13.880> that<00:05:14.039> makes<00:05:14.280> the<00:05:14.440> dollar<00:05:14.800> a 00:05:14.990 --> 00:05:15.000 align:start position:0% systems and also that makes the dollar a 00:05:15.000 --> 00:05:18.150 align:start position:0% systems and also that makes the dollar a commodity<00:05:15.800> so<00:05:16.039> people<00:05:16.440> do<00:05:16.800> unnatural<00:05:17.560> things 00:05:18.150 --> 00:05:18.160 align:start position:0% commodity so people do unnatural things 00:05:18.160 --> 00:05:20.029 align:start position:0% commodity so people do unnatural things in<00:05:18.319> order<00:05:18.560> to<00:05:18.759> access<00:05:19.080> dollars<00:05:19.600> because<00:05:19.880> the 00:05:20.029 --> 00:05:20.039 align:start position:0% in order to access dollars because the 00:05:20.039 --> 00:05:22.270 align:start position:0% in order to access dollars because the upside<00:05:20.479> on<00:05:20.600> trading<00:05:20.960> the<00:05:21.120> dollar<00:05:21.680> is<00:05:21.919> higher 00:05:22.270 --> 00:05:22.280 align:start position:0% upside on trading the dollar is higher 00:05:22.280 --> 00:05:24.590 align:start position:0% upside on trading the dollar is higher than<00:05:23.000> the<00:05:23.319> the<00:05:23.440> trade<00:05:23.759> on<00:05:23.919> the<00:05:24.039> commodity 00:05:24.590 --> 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countries have also created 00:05:32.840 --> 00:05:36.110 align:start position:0% um and some countries have also created rules<00:05:33.600> of<00:05:33.919> how<00:05:34.680> who<00:05:34.880> can<00:05:35.039> own<00:05:35.400> dollars<00:05:35.800> and<00:05:35.960> how 00:05:36.110 --> 00:05:36.120 align:start position:0% rules of how who can own dollars and how 00:05:36.120 --> 00:05:37.990 align:start position:0% rules of how who can own dollars and how much<00:05:36.240> you<00:05:36.360> can<00:05:36.520> transfer<00:05:36.960> it<00:05:37.360> until<00:05:37.800> very 00:05:37.990 --> 00:05:38.000 align:start position:0% much you can transfer it until very 00:05:38.000 --> 00:05:39.550 align:start position:0% much you can transfer it until very recently<00:05:38.400> the<00:05:38.560> Ethiopian<00:05:39.039> government 00:05:39.550 --> 00:05:39.560 align:start position:0% recently the Ethiopian government 00:05:39.560 --> 00:05:41.950 align:start position:0% recently the Ethiopian government actually<00:05:39.960> made<00:05:40.160> it<00:05:40.479> illegal<00:05:41.479> meaning<00:05:41.759> you<00:05:41.840> can 00:05:41.950 --> 00:05:41.960 align:start position:0% actually made it illegal meaning you can 00:05:41.960 --> 00:05:44.110 align:start position:0% actually made it illegal meaning you can go<00:05:42.080> to<00:05:42.280> prison<00:05:42.600> for<00:05:42.840> it<00:05:43.319> for<00:05:43.560> holding<00:05:43.960> more 00:05:44.110 --> 00:05:44.120 align:start position:0% go to prison for it for holding more 00:05:44.120 --> 00:05:46.629 align:start position:0% go to prison for it for holding more than<00:05:44.199> $500<00:05:45.080> with<00:05:45.199> you<00:05:45.319> at<00:05:45.440> any<00:05:45.720> given<00:05:46.000> point 00:05:46.629 --> 00:05:46.639 align:start position:0% than $500 with you at any given point 00:05:46.639 --> 00:05:48.350 align:start position:0% than $500 with you at any given point many<00:05:46.880> of<00:05:47.039> my<00:05:47.199> friends<00:05:47.440> and<00:05:47.639> family's<00:05:48.080> houses 00:05:48.350 --> 00:05:48.360 align:start position:0% many of my friends and family's houses 00:05:48.360 --> 00:05:50.029 align:start position:0% many of my friends and family's houses were<00:05:48.520> raid<00:05:48.960> just<00:05:49.319> people<00:05:49.560> looking<00:05:49.800> for 00:05:50.029 --> 00:05:50.039 align:start position:0% were raid just people looking for 00:05:50.039 --> 00:05:52.150 align:start position:0% were raid just people looking for dollars<00:05:50.720> and<00:05:50.840> that's<00:05:51.160> because<00:05:51.680> the<00:05:51.840> central 00:05:52.150 --> 00:05:52.160 align:start position:0% dollars and that's because the central 00:05:52.160 --> 00:05:54.550 align:start position:0% dollars and that's because the central banks<00:05:52.360> don't<00:05:52.600> have<00:05:52.759> enough<00:05:53.240> dollars<00:05:54.240> and<00:05:54.400> what 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position:0% systemic dollar problem and so you look 00:06:02.240 --> 00:06:04.350 align:start position:0% systemic dollar problem and so you look at<00:06:02.400> that<00:06:02.560> and<00:06:02.720> say<00:06:03.000> okay<00:06:03.400> well<00:06:03.680> what<00:06:03.800> is<00:06:04.000> crypto 00:06:04.350 --> 00:06:04.360 align:start position:0% at that and say okay well what is crypto 00:06:04.360 --> 00:06:06.870 align:start position:0% at that and say okay well what is crypto doing<00:06:04.919> well<00:06:05.199> fundamentally<00:06:06.120> what<00:06:06.319> crypto<00:06:06.680> has 00:06:06.870 --> 00:06:06.880 align:start position:0% doing well fundamentally what crypto has 00:06:06.880 --> 00:06:09.749 align:start position:0% doing well fundamentally what crypto has provided<00:06:07.319> us<00:06:07.720> is<00:06:08.000> basically<00:06:08.960> a<00:06:09.240> digital 00:06:09.749 --> 00:06:09.759 align:start position:0% provided us is basically a digital 00:06:09.759 --> 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where<00:06:18.639> a<00:06:18.759> lot<00:06:18.880> of<00:06:19.039> dollars 00:06:19.390 --> 00:06:19.400 align:start position:0% informal economy where a lot of dollars 00:06:19.400 --> 00:06:21.950 align:start position:0% informal economy where a lot of dollars have<00:06:19.520> been<00:06:19.720> circulating<00:06:20.720> physically<00:06:21.639> or 00:06:21.950 --> 00:06:21.960 align:start position:0% have been circulating physically or 00:06:21.960 --> 00:06:24.270 align:start position:0% have been circulating physically or through<00:06:22.919> uh<00:06:23.160> various<00:06:23.599> networks<00:06:24.000> like<00:06:24.160> the 00:06:24.270 --> 00:06:24.280 align:start position:0% through uh various networks like the 00:06:24.280 --> 00:06:26.270 align:start position:0% through uh various networks like the haala<00:06:24.720> networks<00:06:25.120> that<00:06:25.319> call<00:06:25.599> each<00:06:25.759> other<00:06:26.080> and 00:06:26.270 --> 00:06:26.280 align:start position:0% haala networks that call each other and 00:06:26.280 --> 00:06:29.029 align:start position:0% haala networks that call each other and basically<00:06:27.160> move<00:06:27.520> numbers<00:06:27.960> around<00:06:28.759> what<00:06:28.880> do 00:06:29.029 --> 00:06:29.039 align:start position:0% basically move numbers around what do 00:06:29.039 --> 00:06:31.670 align:start position:0% basically move numbers around what do that<00:06:29.240> as<00:06:29.400> last<00:06:29.639> does<00:06:29.840> is<00:06:30.120> basically<00:06:30.560> for<00:06:31.360> early 00:06:31.670 --> 00:06:31.680 align:start position:0% that as last does is basically for early 00:06:31.680 --> 00:06:33.790 align:start position:0% that as last does is basically for early stage<00:06:32.000> startups<00:06:32.520> to<00:06:32.639> be<00:06:32.800> able<00:06:33.000> to<00:06:33.280> aggregate 00:06:33.790 --> 00:06:33.800 align:start position:0% stage startups to be able to aggregate 00:06:33.800 --> 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payment in a much shorter period<00:06:40.840> of<00:06:41.000> time<00:06:41.880> and<00:06:42.039> this<00:06:42.160> has<00:06:42.360> been<00:06:42.680> a 00:06:42.909 --> 00:06:42.919 align:start position:0% period of time and this has been a 00:06:42.919 --> 00:06:46.350 align:start position:0% period of time and this has been a fundamental<00:06:43.800> value<00:06:44.199> proposition<00:06:44.680> of<00:06:45.360> crypto 00:06:46.350 --> 00:06:46.360 align:start position:0% fundamental value proposition of crypto 00:06:46.360 --> 00:06:48.870 align:start position:0% fundamental value proposition of crypto so<00:06:46.880> as<00:06:47.000> a<00:06:47.160> result<00:06:47.440> of<00:06:47.639> that<00:06:48.280> crypto<00:06:48.639> has<00:06:48.759> been 00:06:48.870 --> 00:06:48.880 align:start position:0% so as a result of that crypto has been 00:06:48.880 --> 00:06:50.550 align:start position:0% so as a result of that crypto has been thriving<00:06:49.400> it's<00:06:49.560> been<00:06:49.720> growing<00:06:50.160> even<00:06:50.360> in<00:06:50.440> the 00:06:50.550 --> 00:06:50.560 align:start position:0% thriving it's been growing even in the 00:06:50.560 --> 00:06:52.270 align:start position:0% thriving it's been growing even in the bare<00:06:50.800> Market<00:06:51.280> crypto<00:06:51.680> transactions<00:06:52.160> have 00:06:52.270 --> 00:06:52.280 align:start position:0% bare Market crypto transactions have 00:06:52.280 --> 00:06:55.189 align:start position:0% bare Market crypto transactions have been<00:06:52.400> growing<00:06:52.759> in<00:06:52.919> on<00:06:53.039> the<00:06:53.479> continent<00:06:54.479> chysis 00:06:55.189 --> 00:06:55.199 align:start position:0% been growing in on the continent chysis 00:06:55.199 --> 00:06:57.909 align:start position:0% been growing in on the continent chysis says<00:06:55.440> we've<00:06:55.680> had<00:06:56.000> $125<00:06:56.879> billion<00:06:57.479> worth<00:06:57.680> of 00:06:57.909 --> 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place<00:07:11.599> for<00:07:11.919> crypto<00:07:12.919> and<00:07:13.160> Nigeria<00:07:13.599> Ethiopia 00:07:14.070 --> 00:07:14.080 align:start position:0% place for crypto and Nigeria Ethiopia 00:07:14.080 --> 00:07:17.189 align:start position:0% place for crypto and Nigeria Ethiopia Kenya<00:07:14.520> we<00:07:14.680> search<00:07:15.120> crypto<00:07:15.560> on<00:07:15.800> online<00:07:16.360> because 00:07:17.189 --> 00:07:17.199 align:start position:0% Kenya we search crypto on online because 00:07:17.199 --> 00:07:19.550 align:start position:0% Kenya we search crypto on online because it<00:07:17.319> is<00:07:17.520> solving<00:07:18.039> fundamental<00:07:18.680> problems<00:07:19.000> for 00:07:19.550 --> 00:07:19.560 align:start position:0% it is solving fundamental problems for 00:07:19.560 --> 00:07:21.950 align:start position:0% it is solving fundamental problems for us<00:07:20.560> and<00:07:20.720> so<00:07:21.039> but<00:07:21.240> this<00:07:21.360> is<00:07:21.560> not<00:07:21.800> just 00:07:21.950 --> 00:07:21.960 align:start position:0% us and so but this is not just 00:07:21.960 --> 00:07:24.469 align:start position:0% us and so but this is not just centralized<00:07:22.520> exchanges<00:07:23.080> this<00:07:23.199> is<00:07:23.479> happening 00:07:24.469 --> 00:07:24.479 align:start position:0% centralized exchanges this is happening 00:07:24.479 --> 00:07:27.790 align:start position:0% centralized exchanges this is happening in<00:07:24.879> other<00:07:25.120> rails<00:07:25.520> that<00:07:25.639> have<00:07:25.800> been<00:07:25.960> built<00:07:26.800> so 00:07:27.790 --> 00:07:27.800 align:start position:0% in other rails that have been built so 00:07:27.800 --> 00:07:29.350 align:start position:0% in other rails that have been built so actually<00:07:28.199> some<00:07:28.360> of<00:07:28.479> the<00:07:28.599> builders<00:07:29.080> here<00:07:29.199> in 00:07:29.350 --> 00:07:29.360 align:start position:0% actually some of the builders here in 00:07:29.360 --> 00:07:30.830 align:start position:0% actually some of the builders here in this<00:07:29.520> this<00:07:29.639> room<00:07:29.919> I've<00:07:30.080> buil<00:07:30.400> some<00:07:30.520> of<00:07:30.680> these 00:07:30.830 --> 00:07:30.840 align:start position:0% this this room I've buil some of these 00:07:30.840 --> 00:07:32.629 align:start position:0% this this room I've buil some of these stacks<00:07:31.280> these<00:07:31.400> are<00:07:31.800> from<00:07:32.000> the<00:07:32.080> builders<00:07:32.440> in 00:07:32.629 --> 00:07:32.639 align:start position:0% stacks these are from the builders in 00:07:32.639 --> 00:07:35.309 align:start position:0% stacks these are from the builders in magma<00:07:33.280> from<00:07:33.560> wallet<00:07:33.960> infrastructure<00:07:34.960> so 00:07:35.309 --> 00:07:35.319 align:start position:0% magma from wallet infrastructure so 00:07:35.319 --> 00:07:38.189 align:start position:0% magma from wallet infrastructure so actually<00:07:35.720> making<00:07:36.599> like<00:07:36.800> SDK<00:07:37.280> wallets<00:07:37.840> that 00:07:38.189 --> 00:07:38.199 align:start position:0% actually making like SDK wallets that 00:07:38.199 --> 00:07:39.990 align:start position:0% actually making like SDK wallets that you<00:07:38.360> can<00:07:38.639> embed<00:07:39.080> into<00:07:39.319> your<00:07:39.479> fintech 00:07:39.990 --> 00:07:40.000 align:start position:0% you can embed into your fintech 00:07:40.000 --> 00:07:42.629 align:start position:0% you can embed into your fintech application<00:07:40.800> or<00:07:41.400> your<00:07:41.720> crypto<00:07:42.120> application 00:07:42.629 --> 00:07:42.639 align:start position:0% application or your crypto application 00:07:42.639 --> 00:07:45.350 align:start position:0% application or your crypto application so<00:07:42.840> you<00:07:42.960> can<00:07:43.440> use<00:07:44.000> crypto<00:07:44.360> and<00:07:44.520> Fiat 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B2B Toc<00:08:01.120> serving<00:08:02.120> like<00:08:02.560> small<00:08:03.199> businesses<00:08:04.199> medium 00:08:04.629 --> 00:08:04.639 align:start position:0% Toc serving like small businesses medium 00:08:04.639 --> 00:08:07.149 align:start position:0% Toc serving like small businesses medium large<00:08:05.000> mediumsized<00:08:05.520> businesses<00:08:06.440> oil<00:08:06.680> and<00:08:06.919> gas 00:08:07.149 --> 00:08:07.159 align:start position:0% large mediumsized businesses oil and gas 00:08:07.159 --> 00:08:09.990 align:start position:0% large mediumsized businesses oil and gas companies<00:08:08.000> and<00:08:08.240> even<00:08:08.639> Banks<00:08:09.400> and<00:08:09.639> payment 00:08:09.990 --> 00:08:10.000 align:start position:0% companies and even Banks and payment 00:08:10.000 --> 00:08:12.390 align:start position:0% companies and even Banks and payment service<00:08:10.400> providers<00:08:11.240> who<00:08:11.400> are<00:08:11.599> now<00:08:11.919> using 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digital<00:08:19.520> wallet<00:08:20.159> in<00:08:20.319> order<00:08:20.639> to<00:08:21.199> be<00:08:21.400> able<00:08:21.639> to 00:08:21.950 --> 00:08:21.960 align:start position:0% digital wallet in order to be able to 00:08:21.960 --> 00:08:24.390 align:start position:0% digital wallet in order to be able to pay<00:08:22.599> online<00:08:23.599> without<00:08:23.919> having<00:08:24.159> any 00:08:24.390 --> 00:08:24.400 align:start position:0% pay online without having any 00:08:24.400 --> 00:08:26.230 align:start position:0% pay online without having any limitations<00:08:25.159> because<00:08:25.400> some<00:08:25.560> of<00:08:25.680> our<00:08:25.879> banks 00:08:26.230 --> 00:08:26.240 align:start position:0% limitations because some of our banks 00:08:26.240 --> 00:08:28.790 align:start position:0% limitations because some of our banks say<00:08:26.800> I'm<00:08:26.919> so<00:08:27.120> sorry<00:08:27.440> you<00:08:27.520> can<00:08:27.680> only<00:08:27.919> pay<00:08:28.039> $10<00:08:28.639> a 00:08:28.790 --> 00:08:28.800 align:start position:0% say I'm so sorry you can only pay $10 a 00:08:28.800 --> 00:08:31.309 align:start position:0% say I'm so sorry you can only pay $10 a month<00:08:29.840> well<00:08:30.159> if<00:08:30.280> you<00:08:30.400> have<00:08:30.560> some<00:08:30.720> resource<00:08:31.240> you 00:08:31.309 --> 00:08:31.319 align:start position:0% month well if you have some resource you 00:08:31.319 --> 00:08:33.469 align:start position:0% month well if you have some resource you want<00:08:31.440> to<00:08:31.560> buy<00:08:31.759> a<00:08:31.879> book<00:08:32.080> from<00:08:32.320> Amazon<00:08:33.159> how<00:08:33.320> can 00:08:33.469 --> 00:08:33.479 align:start position:0% want to buy a book from Amazon how can 00:08:33.479 --> 00:08:35.350 align:start position:0% want to buy a book from Amazon how can you<00:08:33.599> buy<00:08:33.800> it<00:08:33.919> with<00:08:34.000> $10<00:08:34.680> Amazon<00:08:35.039> is<00:08:35.159> more 00:08:35.350 --> 00:08:35.360 align:start position:0% you buy it with $10 Amazon is more 00:08:35.360 --> 00:08:37.469 align:start position:0% you buy it with $10 Amazon is more expensive<00:08:35.800> than<00:08:36.039> that<00:08:36.479> so<00:08:36.959> you<00:08:37.200> you're 00:08:37.469 --> 00:08:37.479 align:start position:0% expensive than that so you you're 00:08:37.479 --> 00:08:39.469 align:start position:0% expensive than that so you you're actually<00:08:37.880> using<00:08:38.320> crypto<00:08:38.760> projects<00:08:39.120> in<00:08:39.240> order 00:08:39.469 --> 00:08:39.479 align:start position:0% actually using crypto projects in order 00:08:39.479 --> 00:08:41.790 align:start position:0% actually using crypto projects in order to<00:08:39.640> do<00:08:39.839> that<00:08:40.320> and<00:08:40.399> so<00:08:40.640> some<00:08:40.760> of<00:08:40.959> these<00:08:41.240> projects 00:08:41.790 --> 00:08:41.800 align:start position:0% to do that and so some of these projects 00:08:41.800 --> 00:08:44.070 align:start position:0% to do that and so some of these projects are<00:08:42.000> like<00:08:42.240> way<00:08:42.479> advanced<00:08:43.000> than<00:08:43.399> where<00:08:43.599> I<00:08:43.760> see<00:08:44.000> a 00:08:44.070 --> 00:08:44.080 align:start position:0% are like way advanced than where I see a 00:08:44.080 --> 00:08:46.829 align:start position:0% are like way advanced than where I see a lot<00:08:44.200> of<00:08:44.320> on<00:08:44.519> andof<00:08:44.880> Rams<00:08:45.560> and<00:08:45.680> so<00:08:46.320> bluntly 00:08:46.829 --> 00:08:46.839 align:start position:0% lot of on andof Rams and so bluntly 00:08:46.839 --> 00:08:50.630 align:start position:0% lot of on andof Rams and so bluntly speaking<00:08:47.600> if<00:08:47.800> Devcon<00:08:48.760> was<00:08:49.160> held<00:08:50.160> in<00:08:50.320> one<00:08:50.480> of 00:08:50.630 --> 00:08:50.640 align:start position:0% speaking if Devcon was held in one of 00:08:50.640 --> 00:08:52.269 align:start position:0% speaking if Devcon was held in one of the<00:08:50.839> countries<00:08:51.160> that<00:08:51.279> were<00:08:51.440> mentioned<00:08:51.760> in 00:08:52.269 --> 00:08:52.279 align:start position:0% the countries that were mentioned in 00:08:52.279 --> 00:08:55.269 align:start position:0% the countries that were mentioned in Africa<00:08:53.279> the<00:08:53.519> Defcon<00:08:53.959> organizing<00:08:54.519> team<00:08:55.040> can 00:08:55.269 --> 00:08:55.279 align:start position:0% Africa the Defcon organizing team can 00:08:55.279 --> 00:08:58.910 align:start position:0% Africa the Defcon organizing team can pay<00:08:55.600> all<00:08:55.880> their<00:08:56.080> bills<00:08:56.959> using<00:08:57.519> crypto<00:08:58.519> all<00:08:58.720> of 00:08:58.910 --> 00:08:58.920 align:start position:0% pay all their bills using crypto all of 00:08:58.920 --> 00:09:01.790 align:start position:0% pay all their bills using crypto all of us<00:08:59.519> would<00:08:59.760> basically<00:09:00.240> be<00:09:00.880> using<00:09:01.200> our<00:09:01.399> crypto 00:09:01.790 --> 00:09:01.800 align:start position:0% us would basically be using our crypto 00:09:01.800 --> 00:09:03.430 align:start position:0% us would basically be using our crypto to<00:09:01.920> make<00:09:02.160> payments<00:09:02.519> with<00:09:02.680> Fiat<00:09:03.040> without<00:09:03.279> even 00:09:03.430 --> 00:09:03.440 align:start position:0% to make payments with Fiat without even 00:09:03.440 --> 00:09:05.910 align:start position:0% to make payments with Fiat without even needing<00:09:03.760> a<00:09:03.880> Fiat<00:09:04.240> wallet<00:09:04.800> paying<00:09:05.200> directly 00:09:05.910 --> 00:09:05.920 align:start position:0% needing a Fiat wallet paying directly 00:09:05.920 --> 00:09:07.470 align:start position:0% needing a Fiat wallet paying directly just<00:09:06.200> using<00:09:06.519> the<00:09:06.680> applications<00:09:07.160> that<00:09:07.279> I've 00:09:07.470 --> 00:09:07.480 align:start position:0% just using the applications that I've 00:09:07.480 --> 00:09:10.590 align:start position:0% just using the applications that I've been<00:09:07.640> built<00:09:08.399> today<00:09:09.399> so<00:09:09.839> there's<00:09:10.040> been<00:09:10.240> a<00:09:10.440> lot 00:09:10.590 --> 00:09:10.600 align:start position:0% been built today so there's been a lot 00:09:10.600 --> 00:09:13.470 align:start position:0% been built today so there's been a lot of<00:09:10.760> work<00:09:11.000> that<00:09:11.160> has<00:09:11.399> happened<00:09:12.120> in<00:09:12.279> terms<00:09:12.600> of 00:09:13.470 --> 00:09:13.480 align:start position:0% of work that has happened in terms of 00:09:13.480 --> 00:09:15.829 align:start position:0% of work that has happened in terms of making<00:09:13.839> the<00:09:14.000> user<00:09:14.399> experience<00:09:14.959> a<00:09:15.079> lot<00:09:15.399> easier 00:09:15.829 --> 00:09:15.839 align:start position:0% making the user experience a lot easier 00:09:15.839 --> 00:09:17.430 align:start position:0% making the user experience a lot easier and<00:09:15.959> if<00:09:16.040> you're<00:09:16.279> curious<00:09:16.680> about<00:09:16.880> it<00:09:17.079> just<00:09:17.279> talk 00:09:17.430 --> 00:09:17.440 align:start position:0% and if you're curious about it just talk 00:09:17.440 --> 00:09:19.550 align:start position:0% and if you're curious about it just talk to<00:09:17.640> many<00:09:17.800> of<00:09:17.920> the<00:09:18.000> builders<00:09:18.320> who<00:09:18.440> are<00:09:18.560> in<00:09:18.680> this 00:09:19.550 --> 00:09:19.560 align:start position:0% to many of the builders who are in this 00:09:19.560 --> 00:09:22.230 align:start position:0% to many of the builders who are in this room<00:09:20.560> so<00:09:21.079> with<00:09:21.279> that<00:09:21.440> in<00:09:21.560> mind<00:09:21.839> what<00:09:21.920> can<00:09:22.079> we 00:09:22.230 --> 00:09:22.240 align:start position:0% room so with that in mind what can we 00:09:22.240 --> 00:09:23.710 align:start position:0% room so with that in mind what can we expect<00:09:22.519> in<00:09:22.640> the<00:09:22.760> next<00:09:22.959> 10<00:09:23.160> years<00:09:23.519> what<00:09:23.600> are 00:09:23.710 --> 00:09:23.720 align:start position:0% expect in the next 10 years what are 00:09:23.720 --> 00:09:26.350 align:start position:0% expect in the next 10 years what are some<00:09:23.839> of<00:09:24.000> the<00:09:24.120> innovations<00:09:24.959> that<00:09:25.680> we<00:09:25.880> can 00:09:26.350 --> 00:09:26.360 align:start position:0% some of the innovations that we can 00:09:26.360 --> 00:09:28.829 align:start position:0% some of the innovations that we can expect<00:09:26.680> to<00:09:26.920> have<00:09:27.760> well<00:09:28.079> fundamentally<00:09:28.760> I 00:09:28.829 --> 00:09:28.839 align:start position:0% expect to have well fundamentally I 00:09:28.839 --> 00:09:30.150 align:start position:0% expect to have well fundamentally I think<00:09:29.000> the<00:09:29.079> most<00:09:29.440> interesting<00:09:29.839> part<00:09:30.000> of 00:09:30.150 --> 00:09:30.160 align:start position:0% think the most interesting part of 00:09:30.160 --> 00:09:33.110 align:start position:0% think the most interesting part of crypto<00:09:30.519> to<00:09:30.680> me<00:09:31.040> is<00:09:31.560> bringing<00:09:32.000> whole<00:09:32.440> economies 00:09:33.110 --> 00:09:33.120 align:start position:0% crypto to me is bringing whole economies 00:09:33.120 --> 00:09:35.550 align:start position:0% crypto to me is bringing whole economies and<00:09:33.240> empowering<00:09:33.920> them<00:09:34.480> by<00:09:34.720> decentralized 00:09:35.550 --> 00:09:35.560 align:start position:0% and empowering them by decentralized 00:09:35.560 --> 00:09:37.829 align:start position:0% and empowering them by decentralized systems<00:09:36.560> part<00:09:36.720> of<00:09:36.920> that<00:09:37.240> is<00:09:37.480> basically 00:09:37.829 --> 00:09:37.839 align:start position:0% systems part of that is basically 00:09:37.839 --> 00:09:39.990 align:start position:0% systems part of that is basically changing<00:09:38.240> the<00:09:38.360> foundations<00:09:39.040> of<00:09:39.200> our<00:09:39.519> existing 00:09:39.990 --> 00:09:40.000 align:start position:0% changing the foundations of our existing 00:09:40.000 --> 00:09:42.230 align:start position:0% changing the foundations of our existing economy<00:09:40.800> and<00:09:40.959> part<00:09:41.120> of<00:09:41.279> it<00:09:41.399> is<00:09:41.640> like<00:09:41.880> opening 00:09:42.230 --> 00:09:42.240 align:start position:0% economy and part of it is like opening 00:09:42.240 --> 00:09:44.230 align:start position:0% economy and part of it is like opening up<00:09:42.480> new<00:09:42.760> economic<00:09:43.240> activities<00:09:43.760> that<00:09:43.920> we<00:09:44.040> did 00:09:44.230 --> 00:09:44.240 align:start position:0% up new economic activities that we did 00:09:44.240 --> 00:09:47.710 align:start position:0% up new economic activities that we did not<00:09:44.440> know<00:09:44.800> existed<00:09:45.399> before<00:09:46.399> um<00:09:46.760> and<00:09:46.959> this<00:09:47.120> is 00:09:47.710 --> 00:09:47.720 align:start position:0% not know existed before um and this is 00:09:47.720 --> 00:09:49.670 align:start position:0% not know existed before um and this is where<00:09:48.040> I<00:09:48.120> think<00:09:48.320> ethereum<00:09:48.839> comes<00:09:49.040> in<00:09:49.360> because 00:09:49.670 --> 00:09:49.680 align:start position:0% where I think ethereum comes in because 00:09:49.680 --> 00:09:51.590 align:start position:0% where I think ethereum comes in because that's<00:09:50.240> the<00:09:50.399> most<00:09:50.680> robust<00:09:51.200> and<00:09:51.320> the<00:09:51.399> most 00:09:51.590 --> 00:09:51.600 align:start position:0% that's the most robust and the most 00:09:51.600 --> 00:09:53.150 align:start position:0% that's the most robust and the most resilient<00:09:52.040> decentralized<00:09:52.640> system<00:09:52.920> that<00:09:53.040> we 00:09:53.150 --> 00:09:53.160 align:start position:0% resilient decentralized system that we 00:09:53.160 --> 00:09:54.949 align:start position:0% resilient decentralized system that we have<00:09:53.480> right<00:09:53.640> now<00:09:54.079> so<00:09:54.240> it's<00:09:54.519> it's<00:09:54.720> it's<00:09:54.800> a 00:09:54.949 --> 00:09:54.959 align:start position:0% have right now so it's it's it's a 00:09:54.959 --> 00:09:56.470 align:start position:0% have right now so it's it's it's a beautiful<00:09:55.360> merge 00:09:56.470 --> 00:09:56.480 align:start position:0% beautiful merge 00:09:56.480 --> 00:09:59.750 align:start position:0% beautiful merge here<00:09:57.480> and<00:09:57.640> when<00:09:57.800> we<00:09:58.000> think<00:09:58.240> about<00:09:59.000> re<00:09:59.480> writing 00:09:59.750 --> 00:09:59.760 align:start position:0% here and when we think about re writing 00:09:59.760 --> 00:10:01.110 align:start position:0% here and when we think about re writing a<00:09:59.839> lot<00:10:00.000> of<00:10:00.120> the<00:10:00.200> foundations<00:10:00.680> of<00:10:00.880> our 00:10:01.110 --> 00:10:01.120 align:start position:0% a lot of the foundations of our 00:10:01.120 --> 00:10:03.750 align:start position:0% a lot of the foundations of our economies<00:10:01.800> we<00:10:01.920> got<00:10:02.040> to<00:10:02.240> think<00:10:02.480> about<00:10:03.079> both 00:10:03.750 --> 00:10:03.760 align:start position:0% economies we got to think about both 00:10:03.760 --> 00:10:05.949 align:start position:0% economies we got to think about both hyper<00:10:04.279> globalization<00:10:05.279> and<00:10:05.480> Hyper 00:10:05.949 --> 00:10:05.959 align:start position:0% hyper globalization and Hyper 00:10:05.959 --> 00:10:08.030 align:start position:0% hyper globalization and Hyper localization<00:10:06.959> we<00:10:07.120> talked<00:10:07.399> a<00:10:07.480> lot<00:10:07.640> about<00:10:07.800> US 00:10:08.030 --> 00:10:08.040 align:start position:0% localization we talked a lot about US 00:10:08.040 --> 00:10:10.430 align:start position:0% localization we talked a lot about US dollar<00:10:08.279> stable<00:10:08.560> coins<00:10:09.000> right<00:10:09.640> so<00:10:09.880> the<00:10:10.040> answer 00:10:10.430 --> 00:10:10.440 align:start position:0% dollar stable coins right so the answer 00:10:10.440 --> 00:10:13.069 align:start position:0% dollar stable coins right so the answer is<00:10:10.640> not<00:10:11.200> let's<00:10:11.519> dollarize<00:10:12.279> the<00:10:12.480> entire 00:10:13.069 --> 00:10:13.079 align:start position:0% is not let's dollarize the entire 00:10:13.079 --> 00:10:15.750 align:start position:0% is not let's dollarize the entire African<00:10:13.560> economy<00:10:14.360> everyone<00:10:14.920> uses<00:10:15.399> dollars 00:10:15.750 --> 00:10:15.760 align:start position:0% African economy everyone uses dollars 00:10:15.760 --> 00:10:17.710 align:start position:0% African economy everyone uses dollars dollars<00:10:16.079> for<00:10:16.320> everyone<00:10:17.040> that's<00:10:17.279> not<00:10:17.560> the 00:10:17.710 --> 00:10:17.720 align:start position:0% dollars for everyone that's not the 00:10:17.720 --> 00:10:19.269 align:start position:0% dollars for everyone that's not the answer<00:10:18.040> I<00:10:18.120> don't<00:10:18.279> think<00:10:18.440> that<00:10:18.640> helps<00:10:18.920> us<00:10:19.120> and 00:10:19.269 --> 00:10:19.279 align:start position:0% answer I don't think that helps us and 00:10:19.279 --> 00:10:21.470 align:start position:0% answer I don't think that helps us and it<00:10:19.360> doesn't<00:10:19.720> help<00:10:19.920> the<00:10:20.079> global<00:10:20.399> economy<00:10:21.160> so<00:10:21.320> we 00:10:21.470 --> 00:10:21.480 align:start position:0% it doesn't help the global economy so we 00:10:21.480 --> 00:10:23.750 align:start position:0% it doesn't help the global economy so we got<00:10:21.600> to<00:10:21.800> also<00:10:22.079> think<00:10:22.320> very<00:10:22.560> locally<00:10:23.360> and<00:10:23.560> one 00:10:23.750 --> 00:10:23.760 align:start position:0% got to also think very locally and one 00:10:23.760 --> 00:10:26.350 align:start position:0% got to also think very locally and one idea<00:10:24.040> I<00:10:24.200> love<00:10:24.399> to<00:10:24.640> dive<00:10:24.920> deeper<00:10:25.240> on<00:10:25.880> is<00:10:26.120> this 00:10:26.350 --> 00:10:26.360 align:start position:0% idea I love to dive deeper on is this 00:10:26.360 --> 00:10:28.590 align:start position:0% idea I love to dive deeper on is this idea<00:10:26.680> of<00:10:26.920> actually<00:10:27.399> local<00:10:27.760> currency<00:10:28.200> stable 00:10:28.590 --> 00:10:28.600 align:start position:0% idea of actually local currency stable 00:10:28.600 --> 00:10:31.030 align:start position:0% idea of actually local currency stable coins<00:10:29.640> at<00:10:29.760> the<00:10:29.920> moment<00:10:30.320> when<00:10:30.440> we<00:10:30.560> think<00:10:30.760> about 00:10:31.030 --> 00:10:31.040 align:start position:0% coins at the moment when we think about 00:10:31.040 --> 00:10:32.910 align:start position:0% coins at the moment when we think about stable<00:10:31.440> coins<00:10:31.839> it's<00:10:32.000> kind<00:10:32.120> of<00:10:32.320> synonymous 00:10:32.910 --> 00:10:32.920 align:start position:0% stable coins it's kind of synonymous 00:10:32.920 --> 00:10:35.389 align:start position:0% stable coins it's kind of synonymous with<00:10:33.160> US<00:10:33.440> dollar<00:10:33.720> stable<00:10:34.040> coins<00:10:34.800> how<00:10:35.000> about 00:10:35.389 --> 00:10:35.399 align:start position:0% with US dollar stable coins how about 00:10:35.399 --> 00:10:37.430 align:start position:0% with US dollar stable coins how about actually<00:10:35.800> having<00:10:36.079> our<00:10:36.399> Kenyan<00:10:36.760> Nigerian 00:10:37.430 --> 00:10:37.440 align:start position:0% actually having our Kenyan Nigerian 00:10:37.440 --> 00:10:39.509 align:start position:0% actually having our Kenyan Nigerian Shillings<00:10:38.440> Kenyan<00:10:38.720> shillings<00:10:39.079> Nigerian 00:10:39.509 --> 00:10:39.519 align:start position:0% Shillings Kenyan shillings Nigerian 00:10:39.519 --> 00:10:42.389 align:start position:0% Shillings Kenyan shillings Nigerian naira<00:10:39.920> Ethiopian<00:10:40.360> Burr<00:10:40.880> a<00:10:41.000> lot<00:10:41.160> of<00:10:41.279> our<00:10:41.560> local 00:10:42.389 --> 00:10:42.399 align:start position:0% naira Ethiopian Burr a lot of our local 00:10:42.399 --> 00:10:44.790 align:start position:0% naira Ethiopian Burr a lot of our local currencies<00:10:43.399> having<00:10:43.680> a<00:10:43.880> digital<00:10:44.279> version<00:10:44.639> of 00:10:44.790 --> 00:10:44.800 align:start position:0% currencies having a digital version of 00:10:44.800 --> 00:10:47.310 align:start position:0% currencies having a digital version of them<00:10:45.160> onchain<00:10:46.160> what<00:10:46.320> does<00:10:46.480> that<00:10:46.680> allow<00:10:47.160> well 00:10:47.310 --> 00:10:47.320 align:start position:0% them onchain what does that allow well 00:10:47.320 --> 00:10:49.629 align:start position:0% them onchain what does that allow well onchain<00:10:47.800> Forex<00:10:48.639> that<00:10:48.760> makes<00:10:48.959> it<00:10:49.160> a<00:10:49.240> lot<00:10:49.399> more 00:10:49.629 --> 00:10:49.639 align:start position:0% onchain Forex that makes it a lot more 00:10:49.639 --> 00:10:51.509 align:start position:0% onchain Forex that makes it a lot more efficient<00:10:50.040> we'll<00:10:50.240> double<00:10:50.560> click<00:10:50.760> on<00:10:50.959> that 00:10:51.509 --> 00:10:51.519 align:start position:0% efficient we'll double click on that 00:10:51.519 --> 00:10:54.509 align:start position:0% efficient we'll double click on that cheaper<00:10:51.959> local<00:10:52.560> payments<00:10:53.560> in<00:10:53.720> a<00:10:53.959> crazy<00:10:54.279> way 00:10:54.509 --> 00:10:54.519 align:start position:0% cheaper local payments in a crazy way 00:10:54.519 --> 00:10:58.629 align:start position:0% cheaper local payments in a crazy way today<00:10:55.360> with<00:10:55.560> blobs<00:10:56.440> it<00:10:56.560> is<00:10:56.760> cheaper<00:10:57.200> to<00:10:57.480> run<00:10:58.480> uh 00:10:58.629 --> 00:10:58.639 align:start position:0% today with blobs it is cheaper to run uh 00:10:58.639 --> 00:11:01.310 align:start position:0% today with blobs it is cheaper to run uh transactions<00:10:59.360> on<00:10:59.440> a<00:10:59.560> layer<00:10:59.920> two<00:11:00.920> at<00:11:01.040> least 00:11:01.310 --> 00:11:01.320 align:start position:0% transactions on a layer two at least 00:11:01.320 --> 00:11:03.590 align:start position:0% transactions on a layer two at least four<00:11:01.639> five<00:11:01.839> to<00:11:02.000> 10<00:11:02.279> times<00:11:02.839> than<00:11:03.000> it<00:11:03.160> is<00:11:03.399> on 00:11:03.590 --> 00:11:03.600 align:start position:0% four five to 10 times than it is on 00:11:03.600 --> 00:11:06.470 align:start position:0% four five to 10 times than it is on mobile<00:11:03.959> money<00:11:04.519> or<00:11:04.920> banking<00:11:05.920> which<00:11:06.040> is<00:11:06.240> quite 00:11:06.470 --> 00:11:06.480 align:start position:0% mobile money or banking which is quite 00:11:06.480 --> 00:11:08.629 align:start position:0% mobile money or banking which is quite crazy<00:11:06.920> well<00:11:07.279> that<00:11:07.360> doesn't<00:11:07.560> mean<00:11:07.760> blobs<00:11:08.399> will 00:11:08.629 --> 00:11:08.639 align:start position:0% crazy well that doesn't mean blobs will 00:11:08.639 --> 00:11:10.710 align:start position:0% crazy well that doesn't mean blobs will scale<00:11:09.160> infinitely<00:11:10.079> but<00:11:10.240> it's<00:11:10.399> just<00:11:10.519> an 00:11:10.710 --> 00:11:10.720 align:start position:0% scale infinitely but it's just an 00:11:10.720 --> 00:11:12.190 align:start position:0% scale infinitely but it's just an interesting<00:11:11.079> data<00:11:11.399> point<00:11:11.600> of<00:11:11.800> what<00:11:11.920> we<00:11:12.040> can 00:11:12.190 --> 00:11:12.200 align:start position:0% interesting data point of what we can 00:11:12.200 --> 00:11:14.710 align:start position:0% interesting data point of what we can even<00:11:12.399> do<00:11:12.720> today<00:11:13.720> and<00:11:13.880> the<00:11:14.040> last<00:11:14.279> part<00:11:14.440> of<00:11:14.600> the 00:11:14.710 --> 00:11:14.720 align:start position:0% even do today and the last part of the 00:11:14.720 --> 00:11:16.590 align:start position:0% even do today and the last part of the value<00:11:15.079> here<00:11:15.480> that<00:11:15.600> we<00:11:15.720> can<00:11:15.880> think<00:11:16.040> of<00:11:16.240> at<00:11:16.399> this 00:11:16.590 --> 00:11:16.600 align:start position:0% value here that we can think of at this 00:11:16.600 --> 00:11:18.550 align:start position:0% value here that we can think of at this stage<00:11:17.000> is<00:11:17.160> that<00:11:17.360> it<00:11:17.519> gives<00:11:17.720> us<00:11:17.959> programmable 00:11:18.550 --> 00:11:18.560 align:start position:0% stage is that it gives us programmable 00:11:18.560 --> 00:11:21.350 align:start position:0% stage is that it gives us programmable money<00:11:19.320> and<00:11:19.480> that<00:11:19.639> opens<00:11:20.079> up<00:11:20.279> a<00:11:20.440> whole<00:11:20.680> lot<00:11:20.839> of 00:11:21.350 --> 00:11:21.360 align:start position:0% money and that opens up a whole lot of 00:11:21.360 --> 00:11:22.949 align:start position:0% money and that opens up a whole lot of opportunities<00:11:21.959> and<00:11:22.120> innovations<00:11:22.639> that<00:11:22.760> can 00:11:22.949 --> 00:11:22.959 align:start position:0% opportunities and innovations that can 00:11:22.959 --> 00:11:25.509 align:start position:0% opportunities and innovations that can happen<00:11:23.880> I<00:11:24.000> really<00:11:24.200> want<00:11:24.320> to<00:11:24.480> double<00:11:24.800> click<00:11:25.120> on 00:11:25.509 --> 00:11:25.519 align:start position:0% happen I really want to double click on 00:11:25.519 --> 00:11:29.470 align:start position:0% happen I really want to double click on the<00:11:26.040> onchain<00:11:26.880> Forex<00:11:27.880> well<00:11:28.160> today<00:11:28.920> k<00:11:29.360> and 00:11:29.470 --> 00:11:29.480 align:start position:0% the onchain Forex well today k and 00:11:29.480 --> 00:11:31.430 align:start position:0% the onchain Forex well today k and Tanzania<00:11:29.959> are<00:11:30.120> neighboring<00:11:30.600> countries<00:11:31.160> right 00:11:31.430 --> 00:11:31.440 align:start position:0% Tanzania are neighboring countries right 00:11:31.440 --> 00:11:33.550 align:start position:0% Tanzania are neighboring countries right next<00:11:31.639> to<00:11:31.800> each<00:11:31.920> other<00:11:32.519> we<00:11:32.680> even<00:11:32.880> speak<00:11:33.160> similar 00:11:33.550 --> 00:11:33.560 align:start position:0% next to each other we even speak similar 00:11:33.560 --> 00:11:36.190 align:start position:0% next to each other we even speak similar languages<00:11:34.560> and<00:11:34.800> both<00:11:35.000> our<00:11:35.200> currencies<00:11:35.720> are 00:11:36.190 --> 00:11:36.200 align:start position:0% languages and both our currencies are 00:11:36.200 --> 00:11:38.790 align:start position:0% languages and both our currencies are called<00:11:36.880> Shillings<00:11:37.880> but<00:11:38.040> in<00:11:38.160> order<00:11:38.399> to<00:11:38.519> make<00:11:38.680> a 00:11:38.790 --> 00:11:38.800 align:start position:0% called Shillings but in order to make a 00:11:38.800 --> 00:11:40.750 align:start position:0% called Shillings but in order to make a payment<00:11:39.120> from<00:11:39.320> Kenya<00:11:39.639> to<00:11:39.760> Tanzania<00:11:40.560> you 00:11:40.750 --> 00:11:40.760 align:start position:0% payment from Kenya to Tanzania you 00:11:40.760 --> 00:11:41.829 align:start position:0% payment from Kenya to Tanzania you actually<00:11:41.000> have<00:11:41.120> to<00:11:41.240> convert<00:11:41.480> it<00:11:41.560> to<00:11:41.680> the 00:11:41.829 --> 00:11:41.839 align:start position:0% actually have to convert it to the 00:11:41.839 --> 00:11:44.069 align:start position:0% actually have to convert it to the dollar<00:11:42.680> dollar<00:11:43.040> has<00:11:43.160> to<00:11:43.240> go<00:11:43.360> through<00:11:43.519> the<00:11:43.680> Str 00:11:44.069 --> 00:11:44.079 align:start position:0% dollar dollar has to go through the Str 00:11:44.079 --> 00:11:47.069 align:start position:0% dollar dollar has to go through the Str system<00:11:44.880> it<00:11:45.040> has<00:11:45.279> to<00:11:45.360> floor<00:11:45.760> through<00:11:46.120> London<00:11:46.880> or 00:11:47.069 --> 00:11:47.079 align:start position:0% system it has to floor through London or 00:11:47.079 --> 00:11:49.269 align:start position:0% system it has to floor through London or New<00:11:47.279> York<00:11:47.519> or<00:11:47.680> somewhere<00:11:48.440> it<00:11:48.600> can<00:11:48.760> take<00:11:48.920> a<00:11:49.000> few 00:11:49.269 --> 00:11:49.279 align:start position:0% New York or somewhere it can take a few 00:11:49.279 --> 00:11:50.949 align:start position:0% New York or somewhere it can take a few days<00:11:49.720> and<00:11:49.839> depending<00:11:50.160> on<00:11:50.279> the<00:11:50.399> volume<00:11:50.680> it<00:11:50.800> can 00:11:50.949 --> 00:11:50.959 align:start position:0% days and depending on the volume it can 00:11:50.959 --> 00:11:54.430 align:start position:0% days and depending on the volume it can take<00:11:51.120> even<00:11:51.399> weeks<00:11:52.200> it's<00:11:52.360> a<00:11:52.680> very<00:11:53.560> long<00:11:54.120> process 00:11:54.430 --> 00:11:54.440 align:start position:0% take even weeks it's a very long process 00:11:54.440 --> 00:11:56.230 align:start position:0% take even weeks it's a very long process and<00:11:54.639> long<00:11:54.880> system<00:11:55.240> it's<00:11:55.440> it's<00:11:55.639> it's<00:11:56.160> it 00:11:56.230 --> 00:11:56.240 align:start position:0% and long system it's it's it's it 00:11:56.240 --> 00:11:57.710 align:start position:0% and long system it's it's it's it doesn't<00:11:56.560> make<00:11:56.760> sense<00:11:57.040> that<00:11:57.160> we're<00:11:57.360> having<00:11:57.560> to 00:11:57.710 --> 00:11:57.720 align:start position:0% doesn't make sense that we're having to 00:11:57.720 --> 00:11:59.670 align:start position:0% doesn't make sense that we're having to do<00:11:57.920> this<00:11:58.079> as<00:11:58.240> neighbors<00:11:58.800> right<00:11:59.279> with<00:11:59.440> local 00:11:59.670 --> 00:11:59.680 align:start position:0% do this as neighbors right with local 00:11:59.680 --> 00:12:02.509 align:start position:0% do this as neighbors right with local stable<00:12:00.079> coins<00:12:00.639> you<00:12:00.800> could<00:12:01.240> potentially<00:12:01.800> move 00:12:02.509 --> 00:12:02.519 align:start position:0% stable coins you could potentially move 00:12:02.519 --> 00:12:04.550 align:start position:0% stable coins you could potentially move from<00:12:02.760> the<00:12:02.920> Kenyan<00:12:03.240> Shing<00:12:03.639> stable<00:12:04.000> coin<00:12:04.279> to<00:12:04.440> a 00:12:04.550 --> 00:12:04.560 align:start position:0% from the Kenyan Shing stable coin to a 00:12:04.560 --> 00:12:06.550 align:start position:0% from the Kenyan Shing stable coin to a Tanzanian<00:12:04.959> Shing<00:12:05.279> stable<00:12:05.600> coin<00:12:06.200> both 00:12:06.550 --> 00:12:06.560 align:start position:0% Tanzanian Shing stable coin both 00:12:06.560 --> 00:12:09.069 align:start position:0% Tanzanian Shing stable coin both denominated<00:12:07.360> in<00:12:07.560> value<00:12:08.000> against<00:12:08.320> the<00:12:08.480> dollar 00:12:09.069 --> 00:12:09.079 align:start position:0% denominated in value against the dollar 00:12:09.079 --> 00:12:11.470 align:start position:0% denominated in value against the dollar but<00:12:09.240> not<00:12:09.519> actually<00:12:09.839> touching<00:12:10.240> the<00:12:10.399> dollar<00:12:11.279> so 00:12:11.470 --> 00:12:11.480 align:start position:0% but not actually touching the dollar so 00:12:11.480 --> 00:12:13.990 align:start position:0% but not actually touching the dollar so this<00:12:11.639> helps<00:12:11.920> us<00:12:12.120> move<00:12:12.720> the<00:12:12.880> US<00:12:13.279> dollar<00:12:13.760> from 00:12:13.990 --> 00:12:14.000 align:start position:0% this helps us move the US dollar from 00:12:14.000 --> 00:12:16.550 align:start position:0% this helps us move the US dollar from just<00:12:14.199> being<00:12:14.399> a<00:12:14.519> medium<00:12:14.800> of<00:12:14.959> exchange<00:12:15.959> to<00:12:16.320> being 00:12:16.550 --> 00:12:16.560 align:start position:0% just being a medium of exchange to being 00:12:16.560 --> 00:12:18.069 align:start position:0% just being a medium of exchange to being a<00:12:16.680> unit<00:12:16.920> of<00:12:17.120> account<00:12:17.560> which<00:12:17.639> is<00:12:17.760> a<00:12:17.880> very 00:12:18.069 --> 00:12:18.079 align:start position:0% a unit of account which is a very 00:12:18.079 --> 00:12:20.870 align:start position:0% a unit of account which is a very interesting<00:12:18.480> use<00:12:18.760> case<00:12:18.920> for<00:12:19.160> it<00:12:20.160> so<00:12:20.440> one<00:12:20.680> way 00:12:20.870 --> 00:12:20.880 align:start position:0% interesting use case for it so one way 00:12:20.880 --> 00:12:23.870 align:start position:0% interesting use case for it so one way that<00:12:21.040> can<00:12:21.240> work<00:12:21.639> is<00:12:22.040> pre<00:12:22.320> building<00:12:22.760> a<00:12:22.920> pair<00:12:23.519> of 00:12:23.870 --> 00:12:23.880 align:start position:0% that can work is pre building a pair of 00:12:23.880 --> 00:12:26.590 align:start position:0% that can work is pre building a pair of of<00:12:24.079> liquidity<00:12:25.079> where<00:12:25.399> some<00:12:25.760> an<00:12:25.920> importer<00:12:26.440> is 00:12:26.590 --> 00:12:26.600 align:start position:0% of liquidity where some an importer is 00:12:26.600 --> 00:12:29.629 align:start position:0% of liquidity where some an importer is putting<00:12:26.880> money<00:12:27.880> uh<00:12:28.120> into<00:12:28.760> the<00:12:29.199> the<00:12:29.279> pool<00:12:29.519> from 00:12:29.629 --> 00:12:29.639 align:start position:0% putting money uh into the the pool from 00:12:29.639 --> 00:12:31.189 align:start position:0% putting money uh into the the pool from the<00:12:29.760> Kenyan<00:12:30.120> side<00:12:30.279> and<00:12:30.440> Export<00:12:30.800> is<00:12:30.920> pulling 00:12:31.189 --> 00:12:31.199 align:start position:0% the Kenyan side and Export is pulling 00:12:31.199 --> 00:12:33.189 align:start position:0% the Kenyan side and Export is pulling money<00:12:31.440> out<00:12:31.600> of<00:12:31.760> it<00:12:32.240> and<00:12:32.360> the<00:12:32.560> person<00:12:32.800> does<00:12:33.040> the 00:12:33.189 --> 00:12:33.199 align:start position:0% money out of it and the person does the 00:12:33.199 --> 00:12:35.509 align:start position:0% money out of it and the person does the exact<00:12:33.480> same<00:12:33.639> thing<00:12:33.800> on<00:12:33.959> the<00:12:34.079> Tanzanian<00:12:34.600> front 00:12:35.509 --> 00:12:35.519 align:start position:0% exact same thing on the Tanzanian front 00:12:35.519 --> 00:12:37.629 align:start position:0% exact same thing on the Tanzanian front and<00:12:35.800> because<00:12:36.360> every<00:12:36.600> trade<00:12:36.880> does<00:12:37.040> not<00:12:37.320> fully 00:12:37.629 --> 00:12:37.639 align:start position:0% and because every trade does not fully 00:12:37.639 --> 00:12:40.110 align:start position:0% and because every trade does not fully balanced<00:12:38.399> you<00:12:38.680> use<00:12:39.040> dollars<00:12:39.480> to<00:12:39.680> basically 00:12:40.110 --> 00:12:40.120 align:start position:0% balanced you use dollars to basically 00:12:40.120 --> 00:12:42.990 align:start position:0% balanced you use dollars to basically rebalance<00:12:40.680> the<00:12:40.839> pool<00:12:41.440> by<00:12:41.639> adding<00:12:42.560> local 00:12:42.990 --> 00:12:43.000 align:start position:0% rebalance the pool by adding local 00:12:43.000 --> 00:12:44.910 align:start position:0% rebalance the pool by adding local currency<00:12:43.399> on<00:12:43.519> the<00:12:43.639> other<00:12:43.920> side<00:12:44.480> this<00:12:44.600> is<00:12:44.760> just 00:12:44.910 --> 00:12:44.920 align:start position:0% currency on the other side this is just 00:12:44.920 --> 00:12:47.590 align:start position:0% currency on the other side this is just one<00:12:45.199> model<00:12:45.839> I<00:12:45.920> am<00:12:46.040> sure<00:12:46.240> we<00:12:46.360> can<00:12:46.600> come<00:12:46.800> up<00:12:47.040> with 00:12:47.590 --> 00:12:47.600 align:start position:0% one model I am sure we can come up with 00:12:47.600 --> 00:12:50.030 align:start position:0% one model I am sure we can come up with way<00:12:48.120> multip<00:12:48.800> way<00:12:48.959> more<00:12:49.240> complex<00:12:49.639> and<00:12:49.800> more 00:12:50.030 --> 00:12:50.040 align:start position:0% way multip way more complex and more 00:12:50.040 --> 00:12:52.590 align:start position:0% way multip way more complex and more interesting<00:12:50.519> models<00:12:50.880> to<00:12:51.040> structure<00:12:51.519> this<00:12:52.120> but 00:12:52.590 --> 00:12:52.600 align:start position:0% interesting models to structure this but 00:12:52.600 --> 00:12:54.790 align:start position:0% interesting models to structure this but bringing<00:12:53.160> Forex<00:12:53.560> on<00:12:53.760> chain<00:12:54.240> is<00:12:54.399> one<00:12:54.519> of<00:12:54.639> the 00:12:54.790 --> 00:12:54.800 align:start position:0% bringing Forex on chain is one of the 00:12:54.800 --> 00:12:56.389 align:start position:0% bringing Forex on chain is one of the most<00:12:55.079> interesting<00:12:55.600> problems<00:12:55.959> for<00:12:56.120> us<00:12:56.279> to 00:12:56.389 --> 00:12:56.399 align:start position:0% most interesting problems for us to 00:12:56.399 --> 00:12:58.910 align:start position:0% most interesting problems for us to solve<00:12:56.720> using<00:12:57.000> local<00:12:57.320> stable<00:12:57.680> coins<00:12:58.639> now<00:12:58.800> when 00:12:58.910 --> 00:12:58.920 align:start position:0% solve using local stable coins now when 00:12:58.920 --> 00:13:00.990 align:start position:0% solve using local stable coins now when we<00:12:59.240> think<00:12:59.440> about<00:12:59.760> that<00:13:00.320> we<00:13:00.440> can<00:13:00.600> think<00:13:00.880> you 00:13:00.990 --> 00:13:01.000 align:start position:0% we think about that we can think you 00:13:01.000 --> 00:13:03.430 align:start position:0% we think about that we can think you know<00:13:01.120> in<00:13:01.240> a<00:13:01.360> few<00:13:01.560> million<00:13:01.959> dollar<00:13:02.360> value<00:13:03.120> or<00:13:03.320> we 00:13:03.430 --> 00:13:03.440 align:start position:0% know in a few million dollar value or we 00:13:03.440 --> 00:13:05.509 align:start position:0% know in a few million dollar value or we can<00:13:03.639> think<00:13:03.920> about<00:13:04.279> half 00:13:05.509 --> 00:13:05.519 align:start position:0% can think about half 00:13:05.519 --> 00:13:08.110 align:start position:0% can think about half economies<00:13:06.519> and<00:13:07.040> I<00:13:07.199> think<00:13:07.399> the<00:13:07.519> most<00:13:07.760> important 00:13:08.110 --> 00:13:08.120 align:start position:0% economies and I think the most important 00:13:08.120 --> 00:13:09.910 align:start position:0% economies and I think the most important thing<00:13:08.320> that<00:13:08.440> we<00:13:08.600> keep<00:13:08.800> missing<00:13:09.160> in<00:13:09.320> the<00:13:09.519> space 00:13:09.910 --> 00:13:09.920 align:start position:0% thing that we keep missing in the space 00:13:09.920 --> 00:13:12.509 align:start position:0% thing that we keep missing in the space when<00:13:10.120> we<00:13:10.760> like<00:13:11.000> look<00:13:11.199> at<00:13:11.680> the<00:13:11.800> full<00:13:12.120> potential 00:13:12.509 --> 00:13:12.519 align:start position:0% when we like look at the full potential 00:13:12.519 --> 00:13:15.030 align:start position:0% when we like look at the full potential of<00:13:12.680> crypto<00:13:13.279> is<00:13:13.560> that<00:13:14.279> we're<00:13:14.480> not<00:13:14.680> always 00:13:15.030 --> 00:13:15.040 align:start position:0% of crypto is that we're not always 00:13:15.040 --> 00:13:18.310 align:start position:0% of crypto is that we're not always looking<00:13:15.399> at<00:13:15.920> like<00:13:16.639> how<00:13:16.880> can<00:13:17.320> have<00:13:17.600> an<00:13:17.839> economy 00:13:18.310 --> 00:13:18.320 align:start position:0% looking at like how can have an economy 00:13:18.320 --> 00:13:20.389 align:start position:0% looking at like how can have an economy run<00:13:18.560> on<00:13:18.760> what<00:13:18.880> we're<00:13:19.040> building<00:13:20.040> and<00:13:20.199> what 00:13:20.389 --> 00:13:20.399 align:start position:0% run on what we're building and what 00:13:20.399 --> 00:13:23.310 align:start position:0% run on what we're building and what needs<00:13:20.600> to<00:13:20.720> be<00:13:20.880> true<00:13:21.160> for<00:13:21.360> us<00:13:21.519> to<00:13:21.680> get<00:13:22.199> there<00:13:23.199> and 00:13:23.310 --> 00:13:23.320 align:start position:0% needs to be true for us to get there and 00:13:23.320 --> 00:13:24.629 align:start position:0% needs to be true for us to get there and the<00:13:23.440> reason<00:13:23.720> why<00:13:23.839> I'm<00:13:23.959> saying<00:13:24.240> that<00:13:24.440> is 00:13:24.629 --> 00:13:24.639 align:start position:0% the reason why I'm saying that is 00:13:24.639 --> 00:13:27.269 align:start position:0% the reason why I'm saying that is because<00:13:25.320> you<00:13:25.440> know<00:13:25.600> many<00:13:25.800> of<00:13:25.959> you<00:13:26.120> know<00:13:26.600> Mesa 00:13:27.269 --> 00:13:27.279 align:start position:0% because you know many of you know Mesa 00:13:27.279 --> 00:13:29.430 align:start position:0% because you know many of you know Mesa right<00:13:27.800> Mesa<00:13:28.320> is<00:13:28.600> one<00:13:28.680> of<00:13:28.800> the<00:13:28.920> best<00:13:29.160> best 00:13:29.430 --> 00:13:29.440 align:start position:0% right Mesa is one of the best best 00:13:29.440 --> 00:13:30.870 align:start position:0% right Mesa is one of the best best success<00:13:29.760> stories<00:13:30.120> that<00:13:30.240> has<00:13:30.399> come<00:13:30.560> out<00:13:30.680> of 00:13:30.870 --> 00:13:30.880 align:start position:0% success stories that has come out of 00:13:30.880 --> 00:13:33.629 align:start position:0% success stories that has come out of Kenya<00:13:31.639> half<00:13:31.880> the<00:13:32.040> Kenyan<00:13:32.480> economy<00:13:32.920> runs<00:13:33.240> on 00:13:33.629 --> 00:13:33.639 align:start position:0% Kenya half the Kenyan economy runs on 00:13:33.639 --> 00:13:36.590 align:start position:0% Kenya half the Kenyan economy runs on impesa<00:13:34.639> what<00:13:34.920> impesa<00:13:35.519> is<00:13:35.839> is<00:13:36.000> just<00:13:36.120> a<00:13:36.360> private 00:13:36.590 --> 00:13:36.600 align:start position:0% impesa what impesa is is just a private 00:13:36.600 --> 00:13:39.269 align:start position:0% impesa what impesa is is just a private Ledger<00:13:37.399> it's<00:13:37.560> a<00:13:37.839> spreadsheet<00:13:38.839> where<00:13:39.040> this 00:13:39.269 --> 00:13:39.279 align:start position:0% Ledger it's a spreadsheet where this 00:13:39.279 --> 00:13:41.389 align:start position:0% Ledger it's a spreadsheet where this they<00:13:39.519> put<00:13:39.680> some<00:13:39.839> fat<00:13:40.199> in<00:13:40.279> the<00:13:40.399> bank<00:13:41.040> and<00:13:41.199> the 00:13:41.389 --> 00:13:41.399 align:start position:0% they put some fat in the bank and the 00:13:41.399 --> 00:13:43.110 align:start position:0% they put some fat in the bank and the numbers<00:13:41.800> move<00:13:42.160> from<00:13:42.440> different<00:13:42.800> account 00:13:43.110 --> 00:13:43.120 align:start position:0% numbers move from different account 00:13:43.120 --> 00:13:44.790 align:start position:0% numbers move from different account names<00:13:43.720> and<00:13:43.839> at<00:13:43.959> the<00:13:44.040> end<00:13:44.160> of<00:13:44.240> the<00:13:44.399> day<00:13:44.600> it's 00:13:44.790 --> 00:13:44.800 align:start position:0% names and at the end of the day it's 00:13:44.800 --> 00:13:47.670 align:start position:0% names and at the end of the day it's basically<00:13:45.639> settled<00:13:46.120> at<00:13:46.240> the<00:13:46.360> bank<00:13:46.680> layer 00:13:47.670 --> 00:13:47.680 align:start position:0% basically settled at the bank layer 00:13:47.680 --> 00:13:49.949 align:start position:0% basically settled at the bank layer that's<00:13:48.440> somehow<00:13:48.959> a<00:13:49.160> version<00:13:49.480> of<00:13:49.639> what<00:13:49.760> we're 00:13:49.949 --> 00:13:49.959 align:start position:0% that's somehow a version of what we're 00:13:49.959 --> 00:13:51.430 align:start position:0% that's somehow a version of what we're talking<00:13:50.320> about<00:13:50.639> but<00:13:50.800> what<00:13:50.920> we're<00:13:51.160> talking 00:13:51.430 --> 00:13:51.440 align:start position:0% talking about but what we're talking 00:13:51.440 --> 00:13:53.470 align:start position:0% talking about but what we're talking about<00:13:51.759> is<00:13:51.920> putting<00:13:52.240> that<00:13:52.399> on<00:13:52.600> chain<00:13:53.160> and<00:13:53.320> a 00:13:53.470 --> 00:13:53.480 align:start position:0% about is putting that on chain and a 00:13:53.480 --> 00:13:55.949 align:start position:0% about is putting that on chain and a much<00:13:53.639> more<00:13:53.880> open<00:13:54.199> transparent<00:13:54.759> system<00:13:55.639> right 00:13:55.949 --> 00:13:55.959 align:start position:0% much more open transparent system right 00:13:55.959 --> 00:13:58.069 align:start position:0% much more open transparent system right for<00:13:56.160> us<00:13:56.360> to<00:13:56.560> get<00:13:56.680> to<00:13:56.920> that<00:13:57.079> level<00:13:57.320> of<00:13:57.519> scale<00:13:57.959> at 00:13:58.069 --> 00:13:58.079 align:start position:0% for us to get to that level of scale at 00:13:58.079 --> 00:14:00.189 align:start position:0% for us to get to that level of scale at a<00:13:58.279> much<00:13:58.519> faster<00:13:58.839> Peri<00:13:59.120> period<00:13:59.800> we<00:13:59.920> got<00:14:00.040> to 00:14:00.189 --> 00:14:00.199 align:start position:0% a much faster Peri period we got to 00:14:00.199 --> 00:14:02.069 align:start position:0% a much faster Peri period we got to think<00:14:00.440> about<00:14:00.800> from<00:14:01.079> different<00:14:01.440> principles 00:14:02.069 --> 00:14:02.079 align:start position:0% think about from different principles 00:14:02.079 --> 00:14:04.230 align:start position:0% think about from different principles and<00:14:02.480> and<00:14:02.639> one<00:14:02.839> lens<00:14:03.120> that<00:14:03.240> I<00:14:03.320> can<00:14:03.519> think<00:14:03.720> of<00:14:04.040> is 00:14:04.230 --> 00:14:04.240 align:start position:0% and and one lens that I can think of is 00:14:04.240 --> 00:14:06.790 align:start position:0% and and one lens that I can think of is using<00:14:04.639> government<00:14:05.120> bonds<00:14:05.839> to<00:14:06.079> back<00:14:06.320> our<00:14:06.519> local 00:14:06.790 --> 00:14:06.800 align:start position:0% using government bonds to back our local 00:14:06.800 --> 00:14:10.269 align:start position:0% using government bonds to back our local stable<00:14:07.240> coins<00:14:08.240> you<00:14:08.839> convert<00:14:09.320> the<00:14:09.480> local<00:14:09.839> Bond 00:14:10.269 --> 00:14:10.279 align:start position:0% stable coins you convert the local Bond 00:14:10.279 --> 00:14:13.269 align:start position:0% stable coins you convert the local Bond into<00:14:10.560> a<00:14:10.720> real<00:14:10.959> world<00:14:11.279> asset<00:14:12.199> that<00:14:12.639> can<00:14:12.959> either 00:14:13.269 --> 00:14:13.279 align:start position:0% into a real world asset that can either 00:14:13.279 --> 00:14:14.990 align:start position:0% into a real world asset that can either be<00:14:13.519> coll<00:14:13.880> fully<00:14:14.160> collateralized<00:14:14.720> through<00:14:14.880> a 00:14:14.990 --> 00:14:15.000 align:start position:0% be coll fully collateralized through a 00:14:15.000 --> 00:14:16.990 align:start position:0% be coll fully collateralized through a CDP<00:14:15.600> or<00:14:15.720> a<00:14:15.839> better<00:14:16.120> model<00:14:16.440> that<00:14:16.560> we<00:14:16.639> can<00:14:16.800> come 00:14:16.990 --> 00:14:17.000 align:start position:0% CDP or a better model that we can come 00:14:17.000 --> 00:14:18.990 align:start position:0% CDP or a better model that we can come up<00:14:17.240> with<00:14:17.440> and<00:14:17.639> by<00:14:17.759> the<00:14:17.839> way<00:14:18.000> if<00:14:18.079> you<00:14:18.199> do<00:14:18.639> I<00:14:18.800> love 00:14:18.990 --> 00:14:19.000 align:start position:0% up with and by the way if you do I love 00:14:19.000 --> 00:14:22.550 align:start position:0% up with and by the way if you do I love to<00:14:19.120> chat<00:14:19.360> with<00:14:19.519> you<00:14:20.240> um<00:14:20.839> and<00:14:21.560> basically<00:14:22.160> use 00:14:22.550 --> 00:14:22.560 align:start position:0% to chat with you um and basically use 00:14:22.560 --> 00:14:25.069 align:start position:0% to chat with you um and basically use that<00:14:22.759> to<00:14:23.440> uh<00:14:23.600> distribute<00:14:24.199> local<00:14:24.600> currency 00:14:25.069 --> 00:14:25.079 align:start position:0% that to uh distribute local currency 00:14:25.079 --> 00:14:27.749 align:start position:0% that to uh distribute local currency through<00:14:25.440> existing<00:14:25.880> and<00:14:26.040> new<00:14:26.279> rails<00:14:26.759> around 00:14:27.749 --> 00:14:27.759 align:start position:0% through existing and new rails around 00:14:27.759 --> 00:14:30.590 align:start position:0% through existing and new rails around the<00:14:28.040> Forex<00:14:28.440> on<00:14:28.639> chain<00:14:28.920> is<00:14:29.199> one<00:14:29.320> of<00:14:29.480> the<00:14:30.079> much 00:14:30.590 --> 00:14:30.600 align:start position:0% the Forex on chain is one of the much 00:14:30.600 --> 00:14:32.829 align:start position:0% the Forex on chain is one of the much like<00:14:30.920> lowest<00:14:31.360> hanging<00:14:31.680> fruit<00:14:32.160> examples<00:14:32.639> of 00:14:32.829 --> 00:14:32.839 align:start position:0% like lowest hanging fruit examples of 00:14:32.839 --> 00:14:35.350 align:start position:0% like lowest hanging fruit examples of where<00:14:33.000> we<00:14:33.120> can<00:14:33.360> go<00:14:33.920> but<00:14:34.079> we<00:14:34.199> can<00:14:34.399> bring<00:14:34.920> so<00:14:35.120> many 00:14:35.350 --> 00:14:35.360 align:start position:0% where we can go but we can bring so many 00:14:35.360 --> 00:14:37.870 align:start position:0% where we can go but we can bring so many other<00:14:35.639> values<00:14:36.079> to<00:14:36.320> that<00:14:36.839> and<00:14:37.000> in<00:14:37.160> the<00:14:37.279> future 00:14:37.870 --> 00:14:37.880 align:start position:0% other values to that and in the future 00:14:37.880 --> 00:14:40.350 align:start position:0% other values to that and in the future it<00:14:38.000> doesn't<00:14:38.360> just<00:14:38.519> need<00:14:38.720> to<00:14:38.880> be<00:14:39.720> uh<00:14:39.959> government 00:14:40.350 --> 00:14:40.360 align:start position:0% it doesn't just need to be uh government 00:14:40.360 --> 00:14:42.670 align:start position:0% it doesn't just need to be uh government bonds<00:14:40.759> to<00:14:40.880> do<00:14:41.079> this<00:14:41.320> we<00:14:41.440> can<00:14:42.000> bring<00:14:42.399> other 00:14:42.670 --> 00:14:42.680 align:start position:0% bonds to do this we can bring other 00:14:42.680 --> 00:14:45.430 align:start position:0% bonds to do this we can bring other types<00:14:42.920> of<00:14:43.120> assets<00:14:43.680> like<00:14:44.199> local<00:14:44.560> land 00:14:45.430 --> 00:14:45.440 align:start position:0% types of assets like local land 00:14:45.440 --> 00:14:47.790 align:start position:0% types of assets like local land productive<00:14:45.880> land<00:14:46.160> or<00:14:46.360> protected<00:14:46.800> land<00:14:47.240> or 00:14:47.790 --> 00:14:47.800 align:start position:0% productive land or protected land or 00:14:47.800 --> 00:14:49.749 align:start position:0% productive land or protected land or gold<00:14:48.079> and<00:14:48.279> silver<00:14:48.600> and<00:14:48.800> precious<00:14:49.120> metals 00:14:49.749 --> 00:14:49.759 align:start position:0% gold and silver and precious metals 00:14:49.759 --> 00:14:51.910 align:start position:0% gold and silver and precious metals we're<00:14:50.440> generating<00:14:51.040> so<00:14:51.240> much<00:14:51.399> of<00:14:51.560> that<00:14:51.720> from 00:14:51.910 --> 00:14:51.920 align:start position:0% we're generating so much of that from 00:14:51.920 --> 00:14:54.110 align:start position:0% we're generating so much of that from Africa<00:14:52.279> at<00:14:52.399> the<00:14:52.519> moment<00:14:53.240> or<00:14:53.440> we<00:14:53.519> can<00:14:53.680> do<00:14:53.880> other 00:14:54.110 --> 00:14:54.120 align:start position:0% Africa at the moment or we can do other 00:14:54.120 --> 00:14:56.069 align:start position:0% Africa at the moment or we can do other types<00:14:54.360> of<00:14:54.519> Commodities<00:14:55.120> like<00:14:55.320> this<00:14:55.440> is<00:14:55.880> such 00:14:56.069 --> 00:14:56.079 align:start position:0% types of Commodities like this is such 00:14:56.079 --> 00:14:58.110 align:start position:0% types of Commodities like this is such an<00:14:56.279> open<00:14:56.600> book<00:14:56.920> in<00:14:57.040> terms<00:14:57.320> of<00:14:57.560> what<00:14:57.720> we<00:14:57.880> back 00:14:58.110 --> 00:14:58.120 align:start position:0% an open book in terms of what we back 00:14:58.120 --> 00:15:00.310 align:start position:0% an open book in terms of what we back our<00:14:58.279> local<00:14:58.519> currencies<00:14:58.920> with 00:15:00.310 --> 00:15:00.320 align:start position:0% our local currencies with 00:15:00.320 --> 00:15:04.150 align:start position:0% our local currencies with with<00:15:01.320> another<00:15:01.800> pillar<00:15:02.800> after<00:15:03.240> local<00:15:03.519> C<00:15:03.880> coins 00:15:04.150 --> 00:15:04.160 align:start position:0% with another pillar after local C coins 00:15:04.160 --> 00:15:06.150 align:start position:0% with another pillar after local C coins that<00:15:04.240> I<00:15:04.320> love<00:15:04.519> to<00:15:04.600> chat<00:15:04.880> about<00:15:05.240> is<00:15:05.600> simple 00:15:06.150 --> 00:15:06.160 align:start position:0% that I love to chat about is simple 00:15:06.160 --> 00:15:09.389 align:start position:0% that I love to chat about is simple Finance<00:15:06.639> as<00:15:06.800> a<00:15:07.160> stack<00:15:08.160> now<00:15:08.639> here<00:15:09.120> in<00:15:09.279> the 00:15:09.389 --> 00:15:09.399 align:start position:0% Finance as a stack now here in the 00:15:09.399 --> 00:15:12.389 align:start position:0% Finance as a stack now here in the ethereum<00:15:09.880> world<00:15:10.160> we<00:15:10.320> talk<00:15:10.680> about 00:15:12.389 --> 00:15:12.399 align:start position:0% ethereum world we talk about 00:15:12.399 --> 00:15:15.150 align:start position:0% ethereum world we talk about decentralization<00:15:13.399> a<00:15:13.560> lot<00:15:14.399> well<00:15:14.560> for<00:15:14.759> us<00:15:15.040> on 00:15:15.150 --> 00:15:15.160 align:start position:0% decentralization a lot well for us on 00:15:15.160 --> 00:15:17.110 align:start position:0% decentralization a lot well for us on the<00:15:15.320> continent<00:15:15.800> decentralization<00:15:16.680> is<00:15:16.920> is 00:15:17.110 --> 00:15:17.120 align:start position:0% the continent decentralization is is 00:15:17.120 --> 00:15:20.269 align:start position:0% the continent decentralization is is actually<00:15:17.519> a<00:15:17.839> very<00:15:18.560> practical<00:15:19.120> solution<00:15:19.880> to<00:15:20.079> a 00:15:20.269 --> 00:15:20.279 align:start position:0% actually a very practical solution to a 00:15:20.279 --> 00:15:21.990 align:start position:0% actually a very practical solution to a very<00:15:20.759> practical 00:15:21.990 --> 00:15:22.000 align:start position:0% very practical 00:15:22.000 --> 00:15:24.590 align:start position:0% very practical problem<00:15:23.000> we<00:15:23.160> have<00:15:23.320> a<00:15:23.480> lot<00:15:23.639> of<00:15:23.800> banking<00:15:24.199> rails 00:15:24.590 --> 00:15:24.600 align:start position:0% problem we have a lot of banking rails 00:15:24.600 --> 00:15:27.030 align:start position:0% problem we have a lot of banking rails to<00:15:24.759> build<00:15:25.600> for<00:15:25.920> hundreds<00:15:26.279> of<00:15:26.480> millions<00:15:26.800> of 00:15:27.030 --> 00:15:27.040 align:start position:0% to build for hundreds of millions of 00:15:27.040 --> 00:15:29.030 align:start position:0% to build for hundreds of millions of people<00:15:27.600> and<00:15:27.800> many<00:15:28.000> of<00:15:28.160> them<00:15:28.360> have<00:15:28.519> not<00:15:28.680> been 00:15:29.030 --> 00:15:29.040 align:start position:0% people and many of them have not been 00:15:29.040 --> 00:15:30.150 align:start position:0% people and many of them have not been born 00:15:30.150 --> 00:15:30.160 align:start position:0% born 00:15:30.160 --> 00:15:33.590 align:start position:0% born yet<00:15:31.160> to<00:15:31.360> do<00:15:31.639> that<00:15:32.560> try<00:15:32.800> to<00:15:32.959> build<00:15:33.160> that<00:15:33.360> in<00:15:33.480> a 00:15:33.590 --> 00:15:33.600 align:start position:0% yet to do that try to build that in a 00:15:33.600 --> 00:15:36.710 align:start position:0% yet to do that try to build that in a monolithic<00:15:34.399> way<00:15:35.199> as<00:15:35.319> a<00:15:35.519> centralized<00:15:36.160> company 00:15:36.710 --> 00:15:36.720 align:start position:0% monolithic way as a centralized company 00:15:36.720 --> 00:15:39.550 align:start position:0% monolithic way as a centralized company as<00:15:36.959> one<00:15:37.319> piece<00:15:37.959> like<00:15:38.199> alipe<00:15:38.759> or<00:15:38.920> witchat<00:15:39.399> or 00:15:39.550 --> 00:15:39.560 align:start position:0% as one piece like alipe or witchat or 00:15:39.560 --> 00:15:42.309 align:start position:0% as one piece like alipe or witchat or grab<00:15:39.880> for<00:15:40.079> 54<00:15:40.639> jurisdictions<00:15:41.600> and<00:15:41.759> scale<00:15:42.160> that 00:15:42.309 --> 00:15:42.319 align:start position:0% grab for 54 jurisdictions and scale that 00:15:42.319 --> 00:15:44.509 align:start position:0% grab for 54 jurisdictions and scale that in<00:15:42.399> a<00:15:42.560> very<00:15:42.680> short<00:15:42.920> period<00:15:43.160> of<00:15:43.319> time<00:15:43.880> is<00:15:44.120> almost 00:15:44.509 --> 00:15:44.519 align:start position:0% in a very short period of time is almost 00:15:44.519 --> 00:15:47.350 align:start position:0% in a very short period of time is almost impossible<00:15:45.120> to<00:15:45.639> execute<00:15:46.639> so<00:15:46.839> the<00:15:47.000> best<00:15:47.240> way 00:15:47.350 --> 00:15:47.360 align:start position:0% impossible to execute so the best way 00:15:47.360 --> 00:15:49.430 align:start position:0% impossible to execute so the best way for<00:15:47.560> us<00:15:47.680> to<00:15:47.880> do<00:15:48.120> that<00:15:48.319> in<00:15:48.440> my<00:15:48.639> view<00:15:48.920> is<00:15:49.160> just<00:15:49.279> to 00:15:49.430 --> 00:15:49.440 align:start position:0% for us to do that in my view is just to 00:15:49.440 --> 00:15:51.309 align:start position:0% for us to do that in my view is just to build<00:15:49.680> a<00:15:49.839> connected<00:15:50.360> web<00:15:50.600> of 00:15:51.309 --> 00:15:51.319 align:start position:0% build a connected web of 00:15:51.319 --> 00:15:53.829 align:start position:0% build a connected web of tools<00:15:52.319> different<00:15:52.639> pieces<00:15:52.959> of<00:15:53.079> the<00:15:53.199> Lego<00:15:53.680> that 00:15:53.829 --> 00:15:53.839 align:start position:0% tools different pieces of the Lego that 00:15:53.839 --> 00:15:56.350 align:start position:0% tools different pieces of the Lego that form<00:15:54.240> a<00:15:54.519> financial<00:15:55.000> stack<00:15:55.800> that<00:15:56.000> come 00:15:56.350 --> 00:15:56.360 align:start position:0% form a financial stack that come 00:15:56.360 --> 00:15:58.230 align:start position:0% form a financial stack that come together<00:15:56.680> that<00:15:56.880> offer<00:15:57.240> users<00:15:57.680> a<00:15:57.839> better 00:15:58.230 --> 00:15:58.240 align:start position:0% together that offer users a better 00:15:58.240 --> 00:16:01.710 align:start position:0% together that offer users a better experience<00:15:59.360> and<00:15:59.560> better<00:16:00.199> options<00:16:01.199> right<00:16:01.600> I 00:16:01.710 --> 00:16:01.720 align:start position:0% experience and better options right I 00:16:01.720 --> 00:16:03.670 align:start position:0% experience and better options right I think<00:16:02.360> building<00:16:02.839> this<00:16:03.000> in<00:16:03.120> a<00:16:03.319> much<00:16:03.440> more 00:16:03.670 --> 00:16:03.680 align:start position:0% think building this in a much more 00:16:03.680 --> 00:16:05.870 align:start position:0% think building this in a much more decentralized<00:16:04.440> way<00:16:05.000> it<00:16:05.120> to<00:16:05.279> me<00:16:05.399> is<00:16:05.560> like<00:16:05.759> the 00:16:05.870 --> 00:16:05.880 align:start position:0% decentralized way it to me is like the 00:16:05.880 --> 00:16:07.910 align:start position:0% decentralized way it to me is like the only<00:16:06.240> way<00:16:06.480> we<00:16:06.639> can<00:16:07.000> get<00:16:07.160> to<00:16:07.360> the<00:16:07.519> level<00:16:07.759> of 00:16:07.910 --> 00:16:07.920 align:start position:0% only way we can get to the level of 00:16:07.920 --> 00:16:10.189 align:start position:0% only way we can get to the level of scale<00:16:08.199> that<00:16:08.319> we<00:16:08.440> need<00:16:08.560> to<00:16:08.759> achieve<00:16:09.079> so<00:16:09.240> for<00:16:09.480> us 00:16:10.189 --> 00:16:10.199 align:start position:0% scale that we need to achieve so for us 00:16:10.199 --> 00:16:12.110 align:start position:0% scale that we need to achieve so for us it's<00:16:10.399> actually<00:16:10.680> a<00:16:10.880> very<00:16:11.240> practical<00:16:11.720> solution 00:16:12.110 --> 00:16:12.120 align:start position:0% it's actually a very practical solution 00:16:12.120 --> 00:16:14.269 align:start position:0% it's actually a very practical solution a<00:16:12.319> practical<00:16:12.720> way<00:16:12.839> of<00:16:13.000> getting<00:16:13.360> there<00:16:14.040> and<00:16:14.199> we 00:16:14.269 --> 00:16:14.279 align:start position:0% a practical way of getting there and we 00:16:14.279 --> 00:16:16.069 align:start position:0% a practical way of getting there and we can<00:16:14.440> build<00:16:14.720> interoperable<00:16:15.440> monies<00:16:15.920> with 00:16:16.069 --> 00:16:16.079 align:start position:0% can build interoperable monies with 00:16:16.079 --> 00:16:18.550 align:start position:0% can build interoperable monies with network<00:16:16.519> effects<00:16:17.480> remember<00:16:17.839> the<00:16:17.959> walls<00:16:18.360> the 00:16:18.550 --> 00:16:18.560 align:start position:0% network effects remember the walls the 00:16:18.560 --> 00:16:21.430 align:start position:0% network effects remember the walls the operator<00:16:19.319> we<00:16:19.519> can<00:16:19.720> just<00:16:19.920> bypass<00:16:20.440> that<00:16:21.120> and 00:16:21.430 --> 00:16:21.440 align:start position:0% operator we can just bypass that and 00:16:21.440 --> 00:16:23.829 align:start position:0% operator we can just bypass that and keep<00:16:21.680> moving<00:16:22.160> value<00:16:22.600> across<00:16:23.360> different 00:16:23.829 --> 00:16:23.839 align:start position:0% keep moving value across different 00:16:23.839 --> 00:16:26.189 align:start position:0% keep moving value across different populations<00:16:24.360> and<00:16:24.560> people<00:16:24.839> in<00:16:25.000> that<00:16:25.240> way 00:16:26.189 --> 00:16:26.199 align:start position:0% populations and people in that way 00:16:26.199 --> 00:16:27.910 align:start position:0% populations and people in that way create<00:16:26.560> cash<00:16:26.800> apps<00:16:27.040> with<00:16:27.199> simple<00:16:27.480> user 00:16:27.910 --> 00:16:27.920 align:start position:0% create cash apps with simple user 00:16:27.920 --> 00:16:29.509 align:start position:0% create cash apps with simple user experience 00:16:29.509 --> 00:16:29.519 align:start position:0% experience 00:16:29.519 --> 00:16:31.350 align:start position:0% experience powered<00:16:29.839> by<00:16:30.000> crypto<00:16:30.399> but<00:16:30.560> we<00:16:30.639> don't<00:16:30.880> even<00:16:31.199> have 00:16:31.350 --> 00:16:31.360 align:start position:0% powered by crypto but we don't even have 00:16:31.360 --> 00:16:33.269 align:start position:0% powered by crypto but we don't even have to<00:16:31.519> know<00:16:31.720> that<00:16:31.839> it's<00:16:32.040> crypto<00:16:32.680> today<00:16:33.000> we<00:16:33.120> have 00:16:33.269 --> 00:16:33.279 align:start position:0% to know that it's crypto today we have 00:16:33.279 --> 00:16:34.910 align:start position:0% to know that it's crypto today we have startups<00:16:33.680> that<00:16:33.800> are<00:16:33.920> doing<00:16:34.199> that<00:16:34.519> but<00:16:34.639> we<00:16:34.720> can 00:16:34.910 --> 00:16:34.920 align:start position:0% startups that are doing that but we can 00:16:34.920 --> 00:16:36.629 align:start position:0% startups that are doing that but we can scale<00:16:35.399> that<00:16:35.800> to 00:16:36.629 --> 00:16:36.639 align:start position:0% scale that to 00:16:36.639 --> 00:16:39.389 align:start position:0% scale that to infinity<00:16:37.639> and<00:16:37.759> on<00:16:37.920> the<00:16:38.319> hyper<00:16:38.720> localization 00:16:39.389 --> 00:16:39.399 align:start position:0% infinity and on the hyper localization 00:16:39.399 --> 00:16:42.829 align:start position:0% infinity and on the hyper localization lens<00:16:40.399> um<00:16:40.839> there<00:16:41.000> are<00:16:41.600> many<00:16:41.880> ways<00:16:42.120> we<00:16:42.240> can<00:16:42.440> build 00:16:42.829 --> 00:16:42.839 align:start position:0% lens um there are many ways we can build 00:16:42.839 --> 00:16:44.829 align:start position:0% lens um there are many ways we can build around<00:16:43.399> existing<00:16:43.880> trust 00:16:44.829 --> 00:16:44.839 align:start position:0% around existing trust 00:16:44.839 --> 00:16:48.150 align:start position:0% around existing trust structures<00:16:45.839> across<00:16:46.319> many<00:16:46.680> African<00:16:47.360> countries 00:16:48.150 --> 00:16:48.160 align:start position:0% structures across many African countries 00:16:48.160 --> 00:16:51.590 align:start position:0% structures across many African countries We<00:16:48.440> have<00:16:49.240> basically<00:16:49.959> cooperatives<00:16:50.959> and 00:16:51.590 --> 00:16:51.600 align:start position:0% We have basically cooperatives and 00:16:51.600 --> 00:16:53.590 align:start position:0% We have basically cooperatives and little<00:16:51.959> communities<00:16:52.399> of<00:16:52.600> people<00:16:53.199> we<00:16:53.360> call 00:16:53.590 --> 00:16:53.600 align:start position:0% little communities of people we call 00:16:53.600 --> 00:16:55.509 align:start position:0% little communities of people we call some<00:16:53.759> of<00:16:53.920> them<00:16:54.079> some<00:16:54.240> of<00:16:54.360> us<00:16:54.519> call<00:16:54.759> them<00:16:55.160> table 00:16:55.509 --> 00:16:55.519 align:start position:0% some of them some of us call them table 00:16:55.519 --> 00:16:58.430 align:start position:0% some of them some of us call them table banking<00:16:56.399> some<00:16:56.680> some<00:16:56.839> of<00:16:56.959> us<00:16:57.120> call<00:16:57.319> them<00:16:57.480> Chamas 00:16:58.430 --> 00:16:58.440 align:start position:0% banking some some of us call them Chamas 00:16:58.440 --> 00:17:00.350 align:start position:0% banking some some of us call them Chamas where<00:16:58.920> basically<00:16:59.279> people<00:16:59.639> pull<00:16:59.880> money 00:17:00.350 --> 00:17:00.360 align:start position:0% where basically people pull money 00:17:00.360 --> 00:17:03.350 align:start position:0% where basically people pull money together<00:17:00.720> to<00:17:01.000> save<00:17:01.560> and<00:17:01.720> lend<00:17:02.000> to<00:17:02.199> each<00:17:02.360> other 00:17:03.350 --> 00:17:03.360 align:start position:0% together to save and lend to each other 00:17:03.360 --> 00:17:05.270 align:start position:0% together to save and lend to each other there's<00:17:03.519> a<00:17:03.920> strong<00:17:04.240> trust<00:17:04.679> infrastructure 00:17:05.270 --> 00:17:05.280 align:start position:0% there's a strong trust infrastructure 00:17:05.280 --> 00:17:08.590 align:start position:0% there's a strong trust infrastructure that<00:17:05.480> exists<00:17:06.480> to<00:17:06.679> enable<00:17:07.160> things<00:17:07.480> like<00:17:07.679> that 00:17:08.590 --> 00:17:08.600 align:start position:0% that exists to enable things like that 00:17:08.600 --> 00:17:10.309 align:start position:0% that exists to enable things like that we<00:17:08.760> don't<00:17:08.959> have<00:17:09.079> to<00:17:09.280> reinvent<00:17:09.760> Trust<00:17:10.120> From 00:17:10.309 --> 00:17:10.319 align:start position:0% we don't have to reinvent Trust From 00:17:10.319 --> 00:17:12.150 align:start position:0% we don't have to reinvent Trust From Scratch<00:17:10.640> we<00:17:10.760> can<00:17:11.000> leverage<00:17:11.439> those<00:17:11.839> existing 00:17:12.150 --> 00:17:12.160 align:start position:0% Scratch we can leverage those existing 00:17:12.160 --> 00:17:15.110 align:start position:0% Scratch we can leverage those existing trust<00:17:12.520> structures<00:17:13.319> to<00:17:13.559> build<00:17:13.959> very<00:17:14.240> resilient 00:17:15.110 --> 00:17:15.120 align:start position:0% trust structures to build very resilient 00:17:15.120 --> 00:17:17.150 align:start position:0% trust structures to build very resilient hyperlocal<00:17:15.880> economies<00:17:16.600> and<00:17:16.720> I<00:17:16.839> think<00:17:17.039> that 00:17:17.150 --> 00:17:17.160 align:start position:0% hyperlocal economies and I think that 00:17:17.160 --> 00:17:19.150 align:start position:0% hyperlocal economies and I think that should<00:17:17.360> be<00:17:17.559> part<00:17:17.720> of<00:17:17.880> our<00:17:18.039> road 00:17:19.150 --> 00:17:19.160 align:start position:0% should be part of our road 00:17:19.160 --> 00:17:22.870 align:start position:0% should be part of our road map<00:17:20.160> and<00:17:20.360> Beyond<00:17:20.760> you<00:17:20.880> know<00:17:21.120> so<00:17:21.880> ultimately 00:17:22.870 --> 00:17:22.880 align:start position:0% map and Beyond you know so ultimately 00:17:22.880 --> 00:17:25.710 align:start position:0% map and Beyond you know so ultimately it's<00:17:23.079> just<00:17:23.280> two<00:17:23.559> people<00:17:24.039> or<00:17:24.280> two<00:17:24.600> companies<00:17:25.360> or 00:17:25.710 --> 00:17:25.720 align:start position:0% it's just two people or two companies or 00:17:25.720 --> 00:17:28.270 align:start position:0% it's just two people or two companies or two<00:17:26.120> agents<00:17:27.120> having<00:17:27.480> normal<00:17:27.880> Financial 00:17:28.270 --> 00:17:28.280 align:start position:0% two agents having normal Financial 00:17:28.280 --> 00:17:29.590 align:start position:0% two agents having normal Financial transactions 00:17:29.590 --> 00:17:29.600 align:start position:0% transactions 00:17:29.600 --> 00:17:32.190 align:start position:0% transactions right<00:17:29.960> no<00:17:30.240> complexity<00:17:31.039> not<00:17:31.280> much<00:17:31.799> we're<00:17:31.960> not 00:17:32.190 --> 00:17:32.200 align:start position:0% right no complexity not much we're not 00:17:32.200 --> 00:17:34.070 align:start position:0% right no complexity not much we're not talking<00:17:32.480> about<00:17:32.720> crypto<00:17:33.039> at<00:17:33.120> the<00:17:33.240> front<00:17:33.440> end 00:17:34.070 --> 00:17:34.080 align:start position:0% talking about crypto at the front end 00:17:34.080 --> 00:17:37.190 align:start position:0% talking about crypto at the front end this<00:17:34.200> is<00:17:34.440> all<00:17:34.679> enabling<00:17:35.440> that<00:17:36.440> other<00:17:36.799> areas<00:17:37.080> of 00:17:37.190 --> 00:17:37.200 align:start position:0% this is all enabling that other areas of 00:17:37.200 --> 00:17:39.470 align:start position:0% this is all enabling that other areas of innovation<00:17:37.760> that<00:17:37.880> we<00:17:38.039> can<00:17:38.520> think<00:17:38.799> about<00:17:39.200> is 00:17:39.470 --> 00:17:39.480 align:start position:0% innovation that we can think about is 00:17:39.480 --> 00:17:41.630 align:start position:0% innovation that we can think about is like<00:17:39.640> around<00:17:40.000> credentialing<00:17:41.000> identity 00:17:41.630 --> 00:17:41.640 align:start position:0% like around credentialing identity 00:17:41.640 --> 00:17:44.710 align:start position:0% like around credentialing identity reputation<00:17:42.440> credit<00:17:43.280> scoring<00:17:44.280> building 00:17:44.710 --> 00:17:44.720 align:start position:0% reputation credit scoring building 00:17:44.720 --> 00:17:46.590 align:start position:0% reputation credit scoring building bringing<00:17:45.280> things<00:17:45.559> that<00:17:45.720> don't<00:17:46.080> exist<00:17:46.400> on 00:17:46.590 --> 00:17:46.600 align:start position:0% bringing things that don't exist on 00:17:46.600 --> 00:17:49.750 align:start position:0% bringing things that don't exist on chain<00:17:46.919> to<00:17:47.559> create<00:17:47.840> Trust<00:17:48.200> on<00:17:48.360> chain<00:17:49.039> is<00:17:49.600> are 00:17:49.750 --> 00:17:49.760 align:start position:0% chain to create Trust on chain is are 00:17:49.760 --> 00:17:51.430 align:start position:0% chain to create Trust on chain is are some<00:17:49.919> of<00:17:50.120> the<00:17:50.240> more<00:17:50.480> interesting<00:17:50.960> areas<00:17:51.280> for 00:17:51.430 --> 00:17:51.440 align:start position:0% some of the more interesting areas for 00:17:51.440 --> 00:17:53.270 align:start position:0% some of the more interesting areas for us<00:17:51.559> to<00:17:51.760> experiment<00:17:52.200> on<00:17:52.600> we<00:17:52.799> don't<00:17:52.960> have<00:17:53.120> time 00:17:53.270 --> 00:17:53.280 align:start position:0% us to experiment on we don't have time 00:17:53.280 --> 00:17:54.990 align:start position:0% us to experiment on we don't have time to<00:17:53.480> dive<00:17:53.720> deep<00:17:53.960> into<00:17:54.240> many<00:17:54.480> of<00:17:54.640> these<00:17:54.840> and 00:17:54.990 --> 00:17:55.000 align:start position:0% to dive deep into many of these and 00:17:55.000 --> 00:17:57.390 align:start position:0% to dive deep into many of these and there's<00:17:55.480> a<00:17:55.640> lot<00:17:55.840> more<00:17:56.120> than<00:17:56.600> other<00:17:56.960> areas<00:17:57.240> of 00:17:57.390 --> 00:17:57.400 align:start position:0% there's a lot more than other areas of 00:17:57.400 --> 00:17:59.029 align:start position:0% there's a lot more than other areas of innovation<00:17:57.799> that<00:17:57.919> we<00:17:58.000> can<00:17:58.120> build<00:17:58.320> in<00:17:58.400> the<00:17:58.480> next 00:17:59.029 --> 00:17:59.039 align:start position:0% innovation that we can build in the next 00:17:59.039 --> 00:18:00.990 align:start position:0% innovation that we can build in the next years<00:17:59.320> but<00:17:59.640> talk<00:17:59.840> to<00:18:00.000> the<00:18:00.120> builders<00:18:00.679> around 00:18:00.990 --> 00:18:01.000 align:start position:0% years but talk to the builders around 00:18:01.000 --> 00:18:04.430 align:start position:0% years but talk to the builders around the<00:18:01.159> table<00:18:02.159> um<00:18:02.559> and<00:18:02.720> the<00:18:02.840> other<00:18:03.400> area<00:18:03.919> bringing 00:18:04.430 --> 00:18:04.440 align:start position:0% the table um and the other area bringing 00:18:04.440 --> 00:18:07.430 align:start position:0% the table um and the other area bringing assets<00:18:04.760> on<00:18:05.000> chain<00:18:05.919> such<00:18:06.120> as<00:18:06.320> real<00:18:06.559> estate<00:18:07.280> we 00:18:07.430 --> 00:18:07.440 align:start position:0% assets on chain such as real estate we 00:18:07.440 --> 00:18:08.990 align:start position:0% assets on chain such as real estate we talked<00:18:07.720> about<00:18:07.919> bonds<00:18:08.240> earlier<00:18:08.559> but<00:18:08.760> different 00:18:08.990 --> 00:18:09.000 align:start position:0% talked about bonds earlier but different 00:18:09.000 --> 00:18:11.630 align:start position:0% talked about bonds earlier but different types<00:18:09.200> of<00:18:09.320> Commodities<00:18:10.320> Energy<00:18:11.159> power 00:18:11.630 --> 00:18:11.640 align:start position:0% types of Commodities Energy power 00:18:11.640 --> 00:18:13.830 align:start position:0% types of Commodities Energy power generating<00:18:12.640> uh<00:18:12.799> structures<00:18:13.320> that<00:18:13.440> we<00:18:13.559> need<00:18:13.679> to 00:18:13.830 --> 00:18:13.840 align:start position:0% generating uh structures that we need to 00:18:13.840 --> 00:18:16.029 align:start position:0% generating uh structures that we need to fund<00:18:14.480> and<00:18:14.720> and<00:18:14.960> and<00:18:15.159> are<00:18:15.360> actually<00:18:15.640> Revenue 00:18:16.029 --> 00:18:16.039 align:start position:0% fund and and and are actually Revenue 00:18:16.039 --> 00:18:18.110 align:start position:0% fund and and and are actually Revenue generating<00:18:16.840> we<00:18:17.000> can<00:18:17.200> experiment<00:18:17.720> with<00:18:17.960> so 00:18:18.110 --> 00:18:18.120 align:start position:0% generating we can experiment with so 00:18:18.120 --> 00:18:20.230 align:start position:0% generating we can experiment with so many<00:18:18.360> of<00:18:18.600> these<00:18:19.120> that<00:18:19.360> actually<00:18:19.720> Powers<00:18:20.120> the 00:18:20.230 --> 00:18:20.240 align:start position:0% many of these that actually Powers the 00:18:20.240 --> 00:18:22.390 align:start position:0% many of these that actually Powers the fundamentals<00:18:20.919> of<00:18:21.120> our 00:18:22.390 --> 00:18:22.400 align:start position:0% fundamentals of our 00:18:22.400 --> 00:18:25.110 align:start position:0% fundamentals of our economies<00:18:23.400> so<00:18:23.640> with<00:18:23.799> all<00:18:24.039> these<00:18:24.320> ideas<00:18:24.880> and 00:18:25.110 --> 00:18:25.120 align:start position:0% economies so with all these ideas and 00:18:25.120 --> 00:18:27.190 align:start position:0% economies so with all these ideas and directions<00:18:25.640> that<00:18:25.760> we<00:18:25.919> can<00:18:26.159> go<00:18:26.679> you<00:18:26.799> might<00:18:27.000> be 00:18:27.190 --> 00:18:27.200 align:start position:0% directions that we can go you might be 00:18:27.200 --> 00:18:29.789 align:start position:0% directions that we can go you might be wondering<00:18:28.200> how<00:18:28.320> do<00:18:28.440> I<00:18:28.559> help<00:18:28.960> how<00:18:29.080> do<00:18:29.200> I<00:18:29.320> connect 00:18:29.789 --> 00:18:29.799 align:start position:0% wondering how do I help how do I connect 00:18:29.799 --> 00:18:32.669 align:start position:0% wondering how do I help how do I connect how<00:18:29.919> do<00:18:30.039> I<00:18:30.280> participate<00:18:30.760> in<00:18:30.960> this<00:18:31.760> well<00:18:32.480> the 00:18:32.669 --> 00:18:32.679 align:start position:0% how do I participate in this well the 00:18:32.679 --> 00:18:36.070 align:start position:0% how do I participate in this well the first<00:18:33.240> is<00:18:34.240> uh<00:18:34.400> it's<00:18:34.559> an<00:18:34.880> invitation<00:18:35.880> It's 00:18:36.070 --> 00:18:36.080 align:start position:0% first is uh it's an invitation It's 00:18:36.080 --> 00:18:38.870 align:start position:0% first is uh it's an invitation It's actually<00:18:36.360> an<00:18:36.480> invitation<00:18:37.280> because<00:18:38.280> there's 00:18:38.870 --> 00:18:38.880 align:start position:0% actually an invitation because there's 00:18:38.880 --> 00:18:40.350 align:start position:0% actually an invitation because there's there's<00:18:39.039> a<00:18:39.200> lot<00:18:39.360> of<00:18:39.480> building<00:18:39.880> happening<00:18:40.200> on 00:18:40.350 --> 00:18:40.360 align:start position:0% there's a lot of building happening on 00:18:40.360 --> 00:18:41.110 align:start position:0% there's a lot of building happening on the 00:18:41.110 --> 00:18:41.120 align:start position:0% the 00:18:41.120 --> 00:18:43.789 align:start position:0% the continent<00:18:42.120> whether<00:18:42.960> we<00:18:43.240> have<00:18:43.440> a<00:18:43.559> lot<00:18:43.679> of 00:18:43.789 --> 00:18:43.799 align:start position:0% continent whether we have a lot of 00:18:43.799 --> 00:18:45.950 align:start position:0% continent whether we have a lot of Builders<00:18:44.159> coming<00:18:44.400> to<00:18:44.559> defon<00:18:45.000> or<00:18:45.120> not<00:18:45.679> so<00:18:45.840> it's 00:18:45.950 --> 00:18:45.960 align:start position:0% Builders coming to defon or not so it's 00:18:45.960 --> 00:18:47.990 align:start position:0% Builders coming to defon or not so it's an<00:18:46.120> invitation<00:18:46.640> for<00:18:46.880> you<00:18:47.080> all<00:18:47.480> from 00:18:47.990 --> 00:18:48.000 align:start position:0% an invitation for you all from 00:18:48.000 --> 00:18:50.630 align:start position:0% an invitation for you all from infrastructure<00:18:48.799> from<00:18:49.080> research<00:18:50.080> from 00:18:50.630 --> 00:18:50.640 align:start position:0% infrastructure from research from 00:18:50.640 --> 00:18:52.950 align:start position:0% infrastructure from research from different<00:18:51.080> ecosystems<00:18:51.720> and<00:18:51.919> chains<00:18:52.400> from 00:18:52.950 --> 00:18:52.960 align:start position:0% different ecosystems and chains from 00:18:52.960 --> 00:18:55.110 align:start position:0% different ecosystems and chains from Capital<00:18:53.400> allocation<00:18:54.159> from<00:18:54.360> mentorship<00:18:54.919> and 00:18:55.110 --> 00:18:55.120 align:start position:0% Capital allocation from mentorship and 00:18:55.120 --> 00:18:57.350 align:start position:0% Capital allocation from mentorship and support<00:18:55.600> from<00:18:56.200> actually<00:18:56.679> like<00:18:56.919> working<00:18:57.240> with 00:18:57.350 --> 00:18:57.360 align:start position:0% support from actually like working with 00:18:57.360 --> 00:18:58.510 align:start position:0% support from actually like working with some<00:18:57.480> of<00:18:57.600> the<00:18:57.720> smartest<00:18:58.120> people<00:18:58.320> on<00:18:58.440> the 00:18:58.510 --> 00:18:58.520 align:start position:0% some of the smartest people on the 00:18:58.520 --> 00:18:59.510 align:start position:0% some of the smartest people on the planet 00:18:59.510 --> 00:18:59.520 align:start position:0% planet 00:18:59.520 --> 00:19:01.190 align:start position:0% planet there<00:18:59.640> are<00:18:59.799> many<00:19:00.039> ways<00:19:00.240> you<00:19:00.320> can<00:19:00.559> plug<00:19:00.799> in<00:19:01.000> into 00:19:01.190 --> 00:19:01.200 align:start position:0% there are many ways you can plug in into 00:19:01.200 --> 00:19:03.149 align:start position:0% there are many ways you can plug in into the<00:19:01.320> movement<00:19:01.760> that<00:19:01.840> is<00:19:02.039> happening<00:19:02.360> in 00:19:03.149 --> 00:19:03.159 align:start position:0% the movement that is happening in 00:19:03.159 --> 00:19:06.470 align:start position:0% the movement that is happening in Africa<00:19:04.159> and<00:19:04.360> of<00:19:04.520> course<00:19:05.480> why<00:19:05.600> not<00:19:05.799> bring<00:19:06.039> defon 00:19:06.470 --> 00:19:06.480 align:start position:0% Africa and of course why not bring defon 00:19:06.480 --> 00:19:08.950 align:start position:0% Africa and of course why not bring defon to<00:19:06.600> Africa<00:19:06.960> in<00:19:07.120> two<00:19:07.320> years 00:19:08.950 --> 00:19:08.960 align:start position:0% to Africa in two years 00:19:08.960 --> 00:19:11.390 align:start position:0% to Africa in two years time<00:19:09.960> who<00:19:10.200> Who's<00:19:10.440> down<00:19:10.679> for<00:19:10.919> something<00:19:11.240> like 00:19:11.390 --> 00:19:11.400 align:start position:0% time who Who's down for something like 00:19:11.400 --> 00:19:15.110 align:start position:0% time who Who's down for something like that<00:19:12.080> here<00:19:13.080> right<00:19:13.760> well<00:19:14.760> yeah<00:19:14.919> I<00:19:14.960> think 00:19:15.110 --> 00:19:15.120 align:start position:0% that here right well yeah I think 00:19:15.120 --> 00:19:16.669 align:start position:0% that here right well yeah I think that'll<00:19:15.320> be<00:19:15.480> super<00:19:15.720> cool<00:19:16.080> and<00:19:16.200> you<00:19:16.320> guys<00:19:16.520> will 00:19:16.669 --> 00:19:16.679 align:start position:0% that'll be super cool and you guys will 00:19:16.679 --> 00:19:19.390 align:start position:0% that'll be super cool and you guys will have<00:19:16.799> a<00:19:16.919> blast<00:19:17.720> joining<00:19:18.120> Devcon<00:19:18.640> there<00:19:19.200> but 00:19:19.390 --> 00:19:19.400 align:start position:0% have a blast joining Devcon there but 00:19:19.400 --> 00:19:21.510 align:start position:0% have a blast joining Devcon there but but<00:19:19.520> it's<00:19:19.720> actually<00:19:20.280> not<00:19:20.600> about<00:19:21.240> having 00:19:21.510 --> 00:19:21.520 align:start position:0% but it's actually not about having 00:19:21.520 --> 00:19:23.510 align:start position:0% but it's actually not about having another<00:19:21.840> big<00:19:22.000> event<00:19:22.240> on<00:19:22.320> the<00:19:22.480> continent<00:19:23.280> it's 00:19:23.510 --> 00:19:23.520 align:start position:0% another big event on the continent it's 00:19:23.520 --> 00:19:25.549 align:start position:0% another big event on the continent it's actually<00:19:24.200> it<00:19:24.360> gives<00:19:24.559> you<00:19:24.720> a<00:19:24.919> much<00:19:25.120> deeper 00:19:25.549 --> 00:19:25.559 align:start position:0% actually it gives you a much deeper 00:19:25.559 --> 00:19:28.190 align:start position:0% actually it gives you a much deeper context<00:19:26.440> to<00:19:26.720> go<00:19:26.880> and<00:19:27.000> see<00:19:27.240> this<00:19:27.400> in<00:19:27.600> practice 00:19:28.190 --> 00:19:28.200 align:start position:0% context to go and see this in practice 00:19:28.200 --> 00:19:31.870 align:start position:0% context to go and see this in practice it<00:19:28.320> is<00:19:28.799> very<00:19:29.039> very<00:19:29.320> hard<00:19:29.559> to<00:19:30.080> explain<00:19:31.080> how 00:19:31.870 --> 00:19:31.880 align:start position:0% it is very very hard to explain how 00:19:31.880 --> 00:19:35.070 align:start position:0% it is very very hard to explain how broken<00:19:32.760> the<00:19:32.880> world<00:19:33.360> Gardens<00:19:33.880> are<00:19:34.480> until<00:19:34.840> you 00:19:35.070 --> 00:19:35.080 align:start position:0% broken the world Gardens are until you 00:19:35.080 --> 00:19:36.990 align:start position:0% broken the world Gardens are until you actually<00:19:35.400> go<00:19:35.600> and<00:19:35.799> experience<00:19:36.200> it<00:19:36.320> in<00:19:36.440> person 00:19:36.990 --> 00:19:37.000 align:start position:0% actually go and experience it in person 00:19:37.000 --> 00:19:39.470 align:start position:0% actually go and experience it in person or<00:19:37.159> is<00:19:37.360> very<00:19:37.559> hard<00:19:37.760> for<00:19:37.919> me<00:19:38.039> to<00:19:38.240> explain<00:19:38.600> to<00:19:38.760> you 00:19:39.470 --> 00:19:39.480 align:start position:0% or is very hard for me to explain to you 00:19:39.480 --> 00:19:41.190 align:start position:0% or is very hard for me to explain to you like<00:19:39.720> what<00:19:39.919> seamless<00:19:40.320> using<00:19:40.679> experience<00:19:41.039> for 00:19:41.190 --> 00:19:41.200 align:start position:0% like what seamless using experience for 00:19:41.200 --> 00:19:43.590 align:start position:0% like what seamless using experience for crypto<00:19:41.600> looks<00:19:41.919> like<00:19:42.679> without<00:19:43.080> actually<00:19:43.360> going 00:19:43.590 --> 00:19:43.600 align:start position:0% crypto looks like without actually going 00:19:43.600 --> 00:19:45.070 align:start position:0% crypto looks like without actually going and<00:19:43.840> experiencing<00:19:44.320> and<00:19:44.440> making<00:19:44.679> a<00:19:44.799> whole<00:19:44.960> lot 00:19:45.070 --> 00:19:45.080 align:start position:0% and experiencing and making a whole lot 00:19:45.080 --> 00:19:47.029 align:start position:0% and experiencing and making a whole lot of<00:19:45.240> payments<00:19:45.559> in<00:19:45.720> living<00:19:45.960> your<00:19:46.159> life<00:19:46.720> using 00:19:47.029 --> 00:19:47.039 align:start position:0% of payments in living your life using 00:19:47.039 --> 00:19:49.750 align:start position:0% of payments in living your life using your<00:19:47.240> crypto<00:19:47.640> wallet<00:19:48.400> without<00:19:49.000> touching 00:19:49.750 --> 00:19:49.760 align:start position:0% your crypto wallet without touching 00:19:49.760 --> 00:19:52.710 align:start position:0% your crypto wallet without touching physical<00:19:50.559> bills<00:19:51.559> right<00:19:51.960> so<00:19:52.360> it's<00:19:52.480> an 00:19:52.710 --> 00:19:52.720 align:start position:0% physical bills right so it's an 00:19:52.720 --> 00:19:54.669 align:start position:0% physical bills right so it's an invitation<00:19:53.200> for<00:19:53.360> you<00:19:53.559> to<00:19:54.039> actually<00:19:54.320> be<00:19:54.559> part 00:19:54.669 --> 00:19:54.679 align:start position:0% invitation for you to actually be part 00:19:54.679 --> 00:19:56.230 align:start position:0% invitation for you to actually be part of<00:19:54.799> the<00:19:54.919> movement<00:19:55.240> and<00:19:55.440> work<00:19:55.760> that<00:19:55.919> that<00:19:56.039> we 00:19:56.230 --> 00:19:56.240 align:start position:0% of the movement and work that that we 00:19:56.240 --> 00:19:59.990 align:start position:0% of the movement and work that that we have<00:19:57.080> and<00:19:57.280> lastly<00:19:58.760> because<00:19:59.000> all<00:19:59.200> the<00:19:59.559> ethereum 00:19:59.990 --> 00:20:00.000 align:start position:0% have and lastly because all the ethereum 00:20:00.000 --> 00:20:01.390 align:start position:0% have and lastly because all the ethereum events<00:20:00.440> that<00:20:00.559> have<00:20:00.720> happened<00:20:01.039> around<00:20:01.320> the 00:20:01.390 --> 00:20:01.400 align:start position:0% events that have happened around the 00:20:01.400 --> 00:20:02.990 align:start position:0% events that have happened around the world<00:20:01.720> have<00:20:01.880> happened<00:20:02.200> in<00:20:02.360> places<00:20:02.679> where<00:20:02.840> it's 00:20:02.990 --> 00:20:03.000 align:start position:0% world have happened in places where it's 00:20:03.000 --> 00:20:05.430 align:start position:0% world have happened in places where it's just<00:20:03.280> very<00:20:03.520> hard<00:20:03.720> to<00:20:03.880> get<00:20:04.080> visas<00:20:04.960> right<00:20:05.080> so<00:20:05.280> to 00:20:05.430 --> 00:20:05.440 align:start position:0% just very hard to get visas right so to 00:20:05.440 --> 00:20:09.230 align:start position:0% just very hard to get visas right so to get<00:20:05.679> 177<00:20:06.520> folks<00:20:06.960> here<00:20:07.960> man<00:20:08.200> that<00:20:08.320> was<00:20:08.559> like<00:20:09.039> a 00:20:09.230 --> 00:20:09.240 align:start position:0% get 177 folks here man that was like a 00:20:09.240 --> 00:20:11.029 align:start position:0% get 177 folks here man that was like a lot<00:20:09.400> of<00:20:09.600> work<00:20:10.039> and<00:20:10.159> it's<00:20:10.320> been<00:20:10.520> a<00:20:10.640> lot<00:20:10.799> of 00:20:11.029 --> 00:20:11.039 align:start position:0% lot of work and it's been a lot of 00:20:11.039 --> 00:20:12.350 align:start position:0% lot of work and it's been a lot of collective 00:20:12.350 --> 00:20:12.360 align:start position:0% collective 00:20:12.360 --> 00:20:14.270 align:start position:0% collective effort<00:20:13.360> and<00:20:13.480> there<00:20:13.600> are<00:20:13.799> hundreds<00:20:14.120> and 00:20:14.270 --> 00:20:14.280 align:start position:0% effort and there are hundreds and 00:20:14.280 --> 00:20:15.950 align:start position:0% effort and there are hundreds and thousands<00:20:14.600> of<00:20:14.799> more<00:20:15.440> that<00:20:15.600> you<00:20:15.720> would 00:20:15.950 --> 00:20:15.960 align:start position:0% thousands of more that you would 00:20:15.960 --> 00:20:17.789 align:start position:0% thousands of more that you would absolutely<00:20:16.600> enjoy<00:20:17.080> connecting<00:20:17.520> with<00:20:17.640> and 00:20:17.789 --> 00:20:17.799 align:start position:0% absolutely enjoy connecting with and 00:20:17.799 --> 00:20:20.390 align:start position:0% absolutely enjoy connecting with and learning<00:20:18.159> with<00:20:18.360> and<00:20:18.520> learning<00:20:18.880> from<00:20:19.679> and<00:20:19.840> so 00:20:20.390 --> 00:20:20.400 align:start position:0% learning with and learning from and so 00:20:20.400 --> 00:20:23.230 align:start position:0% learning with and learning from and so you're<00:20:20.640> invited<00:20:21.080> home<00:20:21.480> welcome 00:20:23.230 --> 00:20:23.240 align:start position:0% you're invited home welcome 00:20:23.240 --> 00:20:25.470 align:start position:0% you're invited home welcome guys<00:20:24.240> all<00:20:24.480> right<00:20:24.720> that<00:20:24.799> was<00:20:25.080> awesome 00:20:25.470 --> 00:20:25.480 align:start position:0% guys all right that was awesome 00:20:25.480 --> 00:20:29.029 align:start position:0% guys all right that was awesome presentation<00:20:26.080> you<00:20:26.320> guys<00:20:27.280> we<00:20:27.640> have<00:20:28.159> is<00:20:28.320> a<00:20:28.799> next 00:20:29.029 --> 00:20:29.039 align:start position:0% presentation you guys we have is a next 00:20:29.039 --> 00:20:31.390 align:start position:0% presentation you guys we have is a next session<00:20:29.360> so<00:20:29.720> anyone<00:20:30.320> want<00:20:30.520> to<00:20:30.679> put<00:20:30.919> question 00:20:31.390 --> 00:20:31.400 align:start position:0% session so anyone want to put question 00:20:31.400 --> 00:20:34.430 align:start position:0% session so anyone want to put question that's<00:20:31.559> a<00:20:31.720> QR<00:20:32.200> right<00:20:32.400> there<00:20:32.880> just<00:20:33.200> scan<00:20:33.559> it<00:20:34.159> and 00:20:34.430 --> 00:20:34.440 align:start position:0% that's a QR right there just scan it and 00:20:34.440 --> 00:20:36.470 align:start position:0% that's a QR right there just scan it and put<00:20:34.559> a<00:20:34.760> question<00:20:35.120> there<00:20:35.679> we<00:20:35.840> have<00:20:36.039> a<00:20:36.159> lot<00:20:36.320> for 00:20:36.470 --> 00:20:36.480 align:start position:0% put a question there we have a lot for 00:20:36.480 --> 00:20:38.950 align:start position:0% put a question there we have a lot for you<00:20:36.720> brother<00:20:37.440> yes<00:20:38.000> let's<00:20:38.320> take<00:20:38.480> a<00:20:38.600> look<00:20:38.760> which 00:20:38.950 --> 00:20:38.960 align:start position:0% you brother yes let's take a look which 00:20:38.960 --> 00:20:41.430 align:start position:0% you brother yes let's take a look which you<00:20:39.039> want<00:20:39.159> to<00:20:39.240> answer<00:20:39.720> first<00:20:40.720> uh<00:20:40.960> we<00:20:41.080> can<00:20:41.240> talk 00:20:41.430 --> 00:20:41.440 align:start position:0% you want to answer first uh we can talk 00:20:41.440 --> 00:20:43.190 align:start position:0% you want to answer first uh we can talk about<00:20:41.679> the<00:20:41.799> non-financial<00:20:42.440> use<00:20:42.760> cases<00:20:43.080> we 00:20:43.190 --> 00:20:43.200 align:start position:0% about the non-financial use cases we 00:20:43.200 --> 00:20:44.990 align:start position:0% about the non-financial use cases we talked<00:20:43.480> about<00:20:43.679> them<00:20:43.840> later<00:20:44.120> on<00:20:44.720> yeah<00:20:44.880> this 00:20:44.990 --> 00:20:45.000 align:start position:0% talked about them later on yeah this 00:20:45.000 --> 00:20:47.110 align:start position:0% talked about them later on yeah this talk<00:20:45.280> focused<00:20:45.640> a<00:20:45.760> lot<00:20:45.919> on<00:20:46.159> finance<00:20:46.760> because 00:20:47.110 --> 00:20:47.120 align:start position:0% talk focused a lot on finance because 00:20:47.120 --> 00:20:49.549 align:start position:0% talk focused a lot on finance because it's<00:20:47.320> just<00:20:47.480> a<00:20:47.600> lot<00:20:47.799> to<00:20:47.960> unpack<00:20:48.760> and<00:20:49.000> each<00:20:49.280> topic 00:20:49.549 --> 00:20:49.559 align:start position:0% it's just a lot to unpack and each topic 00:20:49.559 --> 00:20:51.270 align:start position:0% it's just a lot to unpack and each topic that<00:20:49.679> we<00:20:49.799> talked<00:20:50.080> around<00:20:50.360> credentialing 00:20:51.270 --> 00:20:51.280 align:start position:0% that we talked around credentialing 00:20:51.280 --> 00:20:55.029 align:start position:0% that we talked around credentialing around<00:20:52.000> bringing<00:20:52.960> assets<00:20:53.320> on<00:20:53.559> chain<00:20:54.559> uh<00:20:54.799> and 00:20:55.029 --> 00:20:55.039 align:start position:0% around bringing assets on chain uh and 00:20:55.039 --> 00:20:56.950 align:start position:0% around bringing assets on chain uh and credit<00:20:55.320> scoring<00:20:56.000> and<00:20:56.159> like<00:20:56.400> gaming<00:20:56.760> and 00:20:56.950 --> 00:20:56.960 align:start position:0% credit scoring and like gaming and 00:20:56.960 --> 00:20:58.590 align:start position:0% credit scoring and like gaming and communication<00:20:57.559> there's<00:20:57.760> like<00:20:58.039> there's<00:20:58.159> a<00:20:58.280> lot 00:20:58.590 --> 00:20:58.600 align:start position:0% communication there's like there's a lot 00:20:58.600 --> 00:21:01.230 align:start position:0% communication there's like there's a lot to<00:20:58.760> unpack<00:20:59.200> there<00:20:59.880> um<00:21:00.240> I<00:21:00.360> will<00:21:00.880> actually 00:21:01.230 --> 00:21:01.240 align:start position:0% to unpack there um I will actually 00:21:01.240 --> 00:21:02.950 align:start position:0% to unpack there um I will actually invite<00:21:01.520> you<00:21:01.679> guys<00:21:01.840> to<00:21:02.000> talk<00:21:02.200> to<00:21:02.400> some<00:21:02.600> of<00:21:02.760> our 00:21:02.950 --> 00:21:02.960 align:start position:0% invite you guys to talk to some of our 00:21:02.960 --> 00:21:05.390 align:start position:0% invite you guys to talk to some of our Builders<00:21:03.440> here<00:21:04.000> to<00:21:04.760> understand<00:21:04.919> a<00:21:05.000> lot<00:21:05.159> of<00:21:05.240> the 00:21:05.390 --> 00:21:05.400 align:start position:0% Builders here to understand a lot of the 00:21:05.400 --> 00:21:07.270 align:start position:0% Builders here to understand a lot of the nuances<00:21:06.200> but<00:21:06.360> I<00:21:06.440> mean<00:21:06.640> at<00:21:06.760> the<00:21:06.840> moment<00:21:07.080> like 00:21:07.270 --> 00:21:07.280 align:start position:0% nuances but I mean at the moment like 00:21:07.280 --> 00:21:09.430 align:start position:0% nuances but I mean at the moment like 500<00:21:07.679> million<00:21:08.039> Africans<00:21:08.520> don't<00:21:08.840> have<00:21:09.039> any<00:21:09.200> form 00:21:09.430 --> 00:21:09.440 align:start position:0% 500 million Africans don't have any form 00:21:09.440 --> 00:21:12.190 align:start position:0% 500 million Africans don't have any form of<00:21:09.600> legal<00:21:09.919> ID<00:21:10.799> right<00:21:11.240> and<00:21:11.400> the<00:21:11.559> best<00:21:11.840> that<00:21:12.039> some 00:21:12.190 --> 00:21:12.200 align:start position:0% of legal ID right and the best that some 00:21:12.200 --> 00:21:15.070 align:start position:0% of legal ID right and the best that some of<00:21:12.320> our<00:21:12.520> countries<00:21:12.880> are<00:21:13.080> doing<00:21:13.679> is<00:21:14.279> basically 00:21:15.070 --> 00:21:15.080 align:start position:0% of our countries are doing is basically 00:21:15.080 --> 00:21:18.029 align:start position:0% of our countries are doing is basically having<00:21:15.600> a<00:21:15.840> a<00:21:16.000> data<00:21:16.279> center<00:21:17.200> in<00:21:17.440> one<00:21:17.679> location 00:21:18.029 --> 00:21:18.039 align:start position:0% having a a data center in one location 00:21:18.039 --> 00:21:20.590 align:start position:0% having a a data center in one location or<00:21:18.240> two<00:21:18.480> location<00:21:19.000> and<00:21:19.159> putting<00:21:19.960> the<00:21:20.120> entire 00:21:20.590 --> 00:21:20.600 align:start position:0% or two location and putting the entire 00:21:20.600 --> 00:21:22.110 align:start position:0% or two location and putting the entire population's<00:21:21.240> data<00:21:21.559> there<00:21:21.720> it's<00:21:21.880> like<00:21:22.039> a 00:21:22.110 --> 00:21:22.120 align:start position:0% population's data there it's like a 00:21:22.120 --> 00:21:25.590 align:start position:0% population's data there it's like a honey<00:21:22.480> pod<00:21:23.240> of<00:21:23.720> sovereign<00:21:24.200> data<00:21:24.880> right<00:21:25.360> that's 00:21:25.590 --> 00:21:25.600 align:start position:0% honey pod of sovereign data right that's 00:21:25.600 --> 00:21:27.230 align:start position:0% honey pod of sovereign data right that's not<00:21:25.760> the<00:21:25.880> most<00:21:26.080> secure<00:21:26.400> way<00:21:26.559> to<00:21:26.679> do<00:21:26.799> it<00:21:26.919> in<00:21:27.080> my 00:21:27.230 --> 00:21:27.240 align:start position:0% not the most secure way to do it in my 00:21:27.240 --> 00:21:28.830 align:start position:0% not the most secure way to do it in my opinion<00:21:27.640> so<00:21:27.960> I<00:21:28.039> think<00:21:28.159> there's<00:21:28.279> a<00:21:28.360> lot<00:21:28.600> lot<00:21:28.720> of 00:21:28.830 --> 00:21:28.840 align:start position:0% opinion so I think there's a lot lot of 00:21:28.840 --> 00:21:31.149 align:start position:0% opinion so I think there's a lot lot of ways<00:21:29.000> we<00:21:29.120> can<00:21:29.279> innovate<00:21:29.679> around<00:21:29.960> that<00:21:30.440> kyc<00:21:31.000> is 00:21:31.149 --> 00:21:31.159 align:start position:0% ways we can innovate around that kyc is 00:21:31.159 --> 00:21:32.350 align:start position:0% ways we can innovate around that kyc is one<00:21:31.320> that<00:21:31.520> really<00:21:31.799> came<00:21:31.960> up<00:21:32.200> like 00:21:32.350 --> 00:21:32.360 align:start position:0% one that really came up like 00:21:32.360 --> 00:21:35.350 align:start position:0% one that really came up like transferable<00:21:33.039> kyc<00:21:33.600> across<00:21:33.960> multiple<00:21:34.400> tools 00:21:35.350 --> 00:21:35.360 align:start position:0% transferable kyc across multiple tools 00:21:35.360 --> 00:21:37.549 align:start position:0% transferable kyc across multiple tools um<00:21:35.640> so<00:21:35.799> the<00:21:35.919> list<00:21:36.159> goes<00:21:36.360> on<00:21:36.679> so<00:21:36.919> the<00:21:37.039> invitation 00:21:37.549 --> 00:21:37.559 align:start position:0% um so the list goes on so the invitation 00:21:37.559 --> 00:21:39.149 align:start position:0% um so the list goes on so the invitation is<00:21:37.760> to<00:21:38.000> actually<00:21:38.279> talk<00:21:38.480> to<00:21:38.600> the<00:21:38.720> builders<00:21:39.039> in 00:21:39.149 --> 00:21:39.159 align:start position:0% is to actually talk to the builders in 00:21:39.159 --> 00:21:41.950 align:start position:0% is to actually talk to the builders in the 00:21:41.950 --> 00:21:41.960 align:start position:0% 00:21:41.960 --> 00:21:44.590 align:start position:0% room<00:21:42.960> any<00:21:43.159> question<00:21:43.400> you<00:21:43.520> want<00:21:43.640> to<00:21:43.799> answer<00:21:44.360> we 00:21:44.590 --> 00:21:44.600 align:start position:0% room any question you want to answer we 00:21:44.600 --> 00:21:48.149 align:start position:0% room any question you want to answer we have<00:21:44.840> a<00:21:44.960> lot<00:21:45.200> more<00:21:45.559> here<00:21:46.080> right<00:21:46.960> uh<00:21:47.960> what<00:21:48.080> do 00:21:48.149 --> 00:21:48.159 align:start position:0% have a lot more here right uh what do 00:21:48.159 --> 00:21:50.070 align:start position:0% have a lot more here right uh what do you<00:21:48.279> see<00:21:48.480> Africa 00:21:50.070 --> 00:21:50.080 align:start position:0% you see Africa 00:21:50.080 --> 00:21:52.750 align:start position:0% you see Africa becoming<00:21:51.080> what<00:21:51.240> do<00:21:51.360> you<00:21:51.480> see<00:21:51.840> Africa<00:21:52.320> becoming 00:21:52.750 --> 00:21:52.760 align:start position:0% becoming what do you see Africa becoming 00:21:52.760 --> 00:21:55.110 align:start position:0% becoming what do you see Africa becoming a<00:21:52.960> well<00:21:53.200> coordinated<00:21:54.000> road<00:21:54.360> map<00:21:54.840> I<00:21:54.919> want<00:21:55.000> to 00:21:55.110 --> 00:21:55.120 align:start position:0% a well coordinated road map I want to 00:21:55.120 --> 00:21:56.710 align:start position:0% a well coordinated road map I want to talk<00:21:55.279> about<00:21:55.480> regulation<00:21:56.120> all<00:21:56.200> right<00:21:56.320> let's 00:21:56.710 --> 00:21:56.720 align:start position:0% talk about regulation all right let's 00:21:56.720 --> 00:21:58.070 align:start position:0% talk about regulation all right let's because<00:21:57.000> that's<00:21:57.240> that<00:21:57.400> continues<00:21:57.760> to<00:21:57.880> be<00:21:57.960> a 00:21:58.070 --> 00:21:58.080 align:start position:0% because that's that continues to be a 00:21:58.080 --> 00:22:00.029 align:start position:0% because that's that continues to be a Hot<00:21:58.279> Topic<00:21:58.919> and<00:21:59.039> it's<00:21:59.240> really<00:21:59.440> important<00:21:59.799> to 00:22:00.029 --> 00:22:00.039 align:start position:0% Hot Topic and it's really important to 00:22:00.039 --> 00:22:03.630 align:start position:0% Hot Topic and it's really important to us<00:22:00.400> because<00:22:01.279> many<00:22:01.520> of<00:22:01.720> our<00:22:02.039> Innovations<00:22:02.799> are 00:22:03.630 --> 00:22:03.640 align:start position:0% us because many of our Innovations are 00:22:03.640 --> 00:22:05.830 align:start position:0% us because many of our Innovations are interfacing<00:22:04.520> the<00:22:04.679> traditional<00:22:05.240> world<00:22:05.679> with 00:22:05.830 --> 00:22:05.840 align:start position:0% interfacing the traditional world with 00:22:05.840 --> 00:22:08.830 align:start position:0% interfacing the traditional world with the<00:22:05.960> crypto<00:22:06.320> world<00:22:07.279> because<00:22:07.960> that<00:22:08.240> that<00:22:08.440> door 00:22:08.830 --> 00:22:08.840 align:start position:0% the crypto world because that that door 00:22:08.840 --> 00:22:11.230 align:start position:0% the crypto world because that that door needs<00:22:09.080> to<00:22:09.240> be<00:22:09.600> very<00:22:09.960> fluid<00:22:10.559> it<00:22:10.679> needs<00:22:10.840> to<00:22:11.000> allow 00:22:11.230 --> 00:22:11.240 align:start position:0% needs to be very fluid it needs to allow 00:22:11.240 --> 00:22:12.909 align:start position:0% needs to be very fluid it needs to allow money<00:22:11.559> to<00:22:11.720> keep<00:22:11.880> moving<00:22:12.279> back<00:22:12.400> and<00:22:12.559> forth<00:22:12.799> for 00:22:12.909 --> 00:22:12.919 align:start position:0% money to keep moving back and forth for 00:22:12.919 --> 00:22:15.110 align:start position:0% money to keep moving back and forth for a<00:22:13.039> long<00:22:13.159> period<00:22:13.400> of<00:22:13.559> time<00:22:13.960> and<00:22:14.559> until<00:22:14.799> we<00:22:14.960> bring 00:22:15.110 --> 00:22:15.120 align:start position:0% a long period of time and until we bring 00:22:15.120 --> 00:22:17.669 align:start position:0% a long period of time and until we bring it<00:22:15.240> on<00:22:15.440> chain<00:22:16.200> um<00:22:16.880> and<00:22:17.039> I<00:22:17.120> think<00:22:17.279> that's<00:22:17.440> a 00:22:17.669 --> 00:22:17.679 align:start position:0% it on chain um and I think that's a 00:22:17.679 --> 00:22:19.350 align:start position:0% it on chain um and I think that's a that's<00:22:17.760> a<00:22:17.919> very<00:22:18.080> important<00:22:18.400> problem<00:22:18.679> so<00:22:19.279> I 00:22:19.350 --> 00:22:19.360 align:start position:0% that's a very important problem so I 00:22:19.360 --> 00:22:21.029 align:start position:0% that's a very important problem so I talked<00:22:19.600> to<00:22:19.679> a<00:22:19.760> bunch<00:22:19.919> of<00:22:20.080> regulators<00:22:20.760> many<00:22:20.919> of 00:22:21.029 --> 00:22:21.039 align:start position:0% talked to a bunch of regulators many of 00:22:21.039 --> 00:22:22.470 align:start position:0% talked to a bunch of regulators many of the<00:22:21.120> builders<00:22:21.480> here<00:22:21.679> talk<00:22:21.919> to<00:22:22.120> many 00:22:22.470 --> 00:22:22.480 align:start position:0% the builders here talk to many 00:22:22.480 --> 00:22:24.230 align:start position:0% the builders here talk to many Regulators<00:22:23.480> there's<00:22:23.720> there's<00:22:23.919> some 00:22:24.230 --> 00:22:24.240 align:start position:0% Regulators there's there's some 00:22:24.240 --> 00:22:26.549 align:start position:0% Regulators there's there's some curiosity<00:22:25.120> there's<00:22:25.320> some<00:22:25.559> fear<00:22:26.159> because 00:22:26.549 --> 00:22:26.559 align:start position:0% curiosity there's some fear because 00:22:26.559 --> 00:22:28.909 align:start position:0% curiosity there's some fear because crypto<00:22:26.960> can<00:22:27.080> be<00:22:27.240> a<00:22:27.440> path<00:22:27.600> for<00:22:27.840> Capital<00:22:28.200> flight 00:22:28.909 --> 00:22:28.919 align:start position:0% crypto can be a path for Capital flight 00:22:28.919 --> 00:22:30.549 align:start position:0% crypto can be a path for Capital flight a<00:22:29.039> lot<00:22:29.159> of<00:22:29.360> value<00:22:29.600> to<00:22:29.720> live<00:22:29.880> in<00:22:30.000> a<00:22:30.120> short<00:22:30.320> period 00:22:30.549 --> 00:22:30.559 align:start position:0% a lot of value to live in a short period 00:22:30.559 --> 00:22:32.510 align:start position:0% a lot of value to live in a short period of<00:22:30.720> time<00:22:31.480> right<00:22:31.640> and<00:22:31.799> that's<00:22:32.039> a<00:22:32.240> that's<00:22:32.360> an 00:22:32.510 --> 00:22:32.520 align:start position:0% of time right and that's a that's an 00:22:32.520 --> 00:22:35.269 align:start position:0% of time right and that's a that's an actual<00:22:32.880> risk<00:22:33.720> um<00:22:34.320> and<00:22:34.640> some<00:22:34.799> of<00:22:34.919> them<00:22:35.080> don't 00:22:35.269 --> 00:22:35.279 align:start position:0% actual risk um and some of them don't 00:22:35.279 --> 00:22:37.430 align:start position:0% actual risk um and some of them don't even<00:22:35.960> understand<00:22:36.200> the<00:22:36.360> fundamentals<00:22:37.039> of<00:22:37.240> this 00:22:37.430 --> 00:22:37.440 align:start position:0% even understand the fundamentals of this 00:22:37.440 --> 00:22:39.630 align:start position:0% even understand the fundamentals of this technology<00:22:38.039> so<00:22:38.640> what<00:22:38.799> we<00:22:38.919> end<00:22:39.039> up<00:22:39.240> having<00:22:39.480> is 00:22:39.630 --> 00:22:39.640 align:start position:0% technology so what we end up having is 00:22:39.640 --> 00:22:41.990 align:start position:0% technology so what we end up having is some<00:22:39.840> countries<00:22:40.760> like<00:22:40.960> South<00:22:41.200> Africa<00:22:41.559> saying 00:22:41.990 --> 00:22:42.000 align:start position:0% some countries like South Africa saying 00:22:42.000 --> 00:22:44.470 align:start position:0% some countries like South Africa saying crypto<00:22:42.320> is<00:22:42.440> legal<00:22:42.919> it's<00:22:43.039> a<00:22:43.200> commodity<00:22:43.960> we<00:22:44.080> will 00:22:44.470 --> 00:22:44.480 align:start position:0% crypto is legal it's a commodity we will 00:22:44.480 --> 00:22:45.909 align:start position:0% crypto is legal it's a commodity we will allow<00:22:44.760> it<00:22:44.960> and<00:22:45.080> so<00:22:45.240> we<00:22:45.400> have<00:22:45.520> a<00:22:45.640> lot<00:22:45.799> of 00:22:45.909 --> 00:22:45.919 align:start position:0% allow it and so we have a lot of 00:22:45.919 --> 00:22:48.310 align:start position:0% allow it and so we have a lot of Builders<00:22:46.520> working<00:22:46.960> there<00:22:47.440> some<00:22:47.679> countries 00:22:48.310 --> 00:22:48.320 align:start position:0% Builders working there some countries 00:22:48.320 --> 00:22:51.830 align:start position:0% Builders working there some countries creating<00:22:49.320> uh<00:22:49.760> um<00:22:50.640> uh 00:22:51.830 --> 00:22:51.840 align:start position:0% creating uh um uh 00:22:51.840 --> 00:22:54.990 align:start position:0% creating uh um uh uh<00:22:52.840> environments<00:22:53.320> for<00:22:53.600> experimentation<00:22:54.279> like 00:22:54.990 --> 00:22:55.000 align:start position:0% uh environments for experimentation like 00:22:55.000 --> 00:22:58.789 align:start position:0% uh environments for experimentation like sandboxes<00:22:56.000> uh<00:22:56.559> and<00:22:57.159> actually<00:22:58.039> um<00:22:58.240> this<00:22:58.600> a<00:22:58.679> bit 00:22:58.789 --> 00:22:58.799 align:start position:0% sandboxes uh and actually um this a bit 00:22:58.799 --> 00:23:01.390 align:start position:0% sandboxes uh and actually um this a bit of<00:22:58.880> a<00:22:59.000> controversial<00:22:59.559> view<00:23:00.000> but<00:23:01.000> I<00:23:01.120> think 00:23:01.390 --> 00:23:01.400 align:start position:0% of a controversial view but I think 00:23:01.400 --> 00:23:03.230 align:start position:0% of a controversial view but I think creating<00:23:01.799> some<00:23:01.960> sort<00:23:02.120> of<00:23:02.279> tax<00:23:02.600> revenue<00:23:03.000> from 00:23:03.230 --> 00:23:03.240 align:start position:0% creating some sort of tax revenue from 00:23:03.240 --> 00:23:05.750 align:start position:0% creating some sort of tax revenue from crypto<00:23:03.960> transactions<00:23:04.559> for<00:23:04.799> governments<00:23:05.400> is<00:23:05.520> a 00:23:05.750 --> 00:23:05.760 align:start position:0% crypto transactions for governments is a 00:23:05.760 --> 00:23:07.430 align:start position:0% crypto transactions for governments is a is<00:23:05.880> a<00:23:06.080> potentially<00:23:06.640> positive<00:23:07.000> thing<00:23:07.159> if<00:23:07.279> it's 00:23:07.430 --> 00:23:07.440 align:start position:0% is a potentially positive thing if it's 00:23:07.440 --> 00:23:10.310 align:start position:0% is a potentially positive thing if it's done<00:23:07.720> well<00:23:08.400> because<00:23:08.679> it<00:23:08.840> moves<00:23:09.520> this<00:23:09.760> category 00:23:10.310 --> 00:23:10.320 align:start position:0% done well because it moves this category 00:23:10.320 --> 00:23:12.909 align:start position:0% done well because it moves this category from<00:23:11.080> a<00:23:11.400> a<00:23:11.520> risk<00:23:11.840> basis<00:23:12.279> to<00:23:12.440> an<00:23:12.600> income 00:23:12.909 --> 00:23:12.919 align:start position:0% from a a risk basis to an income 00:23:12.919 --> 00:23:15.789 align:start position:0% from a a risk basis to an income generating<00:23:13.600> category<00:23:14.600> um<00:23:15.039> and<00:23:15.400> bringing 00:23:15.789 --> 00:23:15.799 align:start position:0% generating category um and bringing 00:23:15.799 --> 00:23:18.310 align:start position:0% generating category um and bringing local<00:23:16.080> stable<00:23:16.440> coins<00:23:16.679> on<00:23:16.840> chain<00:23:17.679> is<00:23:18.080> I<00:23:18.159> think 00:23:18.310 --> 00:23:18.320 align:start position:0% local stable coins on chain is I think 00:23:18.320 --> 00:23:20.110 align:start position:0% local stable coins on chain is I think one<00:23:18.440> of<00:23:18.600> the<00:23:18.919> biggest<00:23:19.240> value<00:23:19.600> props<00:23:19.919> for 00:23:20.110 --> 00:23:20.120 align:start position:0% one of the biggest value props for 00:23:20.120 --> 00:23:22.230 align:start position:0% one of the biggest value props for governments<00:23:20.720> because<00:23:21.039> what<00:23:21.159> it<00:23:21.320> does<00:23:21.640> is<00:23:22.080> it 00:23:22.230 --> 00:23:22.240 align:start position:0% governments because what it does is it 00:23:22.240 --> 00:23:24.510 align:start position:0% governments because what it does is it creates<00:23:22.559> a<00:23:22.760> much<00:23:22.919> more<00:23:23.279> efficient<00:23:24.159> Capital 00:23:24.510 --> 00:23:24.520 align:start position:0% creates a much more efficient Capital 00:23:24.520 --> 00:23:26.549 align:start position:0% creates a much more efficient Capital markets<00:23:24.880> for<00:23:25.080> dollars<00:23:25.400> and<00:23:25.640> bonds<00:23:26.159> it<00:23:26.240> brings 00:23:26.549 --> 00:23:26.559 align:start position:0% markets for dollars and bonds it brings 00:23:26.559 --> 00:23:29.149 align:start position:0% markets for dollars and bonds it brings dollars<00:23:26.960> in<00:23:27.559> and<00:23:27.720> helps<00:23:28.039> reduce<00:23:28.320> the<00:23:28.840> pressure 00:23:29.149 --> 00:23:29.159 align:start position:0% dollars in and helps reduce the pressure 00:23:29.159 --> 00:23:31.430 align:start position:0% dollars in and helps reduce the pressure for<00:23:29.440> local<00:23:29.760> trade<00:23:30.039> that<00:23:30.200> can<00:23:30.400> happen<00:23:30.760> so<00:23:31.279> they 00:23:31.430 --> 00:23:31.440 align:start position:0% for local trade that can happen so they 00:23:31.440 --> 00:23:32.990 align:start position:0% for local trade that can happen so they have<00:23:31.559> an<00:23:31.720> incentive<00:23:32.120> to<00:23:32.240> see<00:23:32.480> something<00:23:32.799> like 00:23:32.990 --> 00:23:33.000 align:start position:0% have an incentive to see something like 00:23:33.000 --> 00:23:34.950 align:start position:0% have an incentive to see something like that<00:23:33.640> but<00:23:33.960> there's<00:23:34.120> a<00:23:34.240> lot<00:23:34.360> of<00:23:34.520> people<00:23:34.760> here 00:23:34.950 --> 00:23:34.960 align:start position:0% that but there's a lot of people here 00:23:34.960 --> 00:23:36.630 align:start position:0% that but there's a lot of people here doing<00:23:35.240> the<00:23:35.400> hard<00:23:35.640> work<00:23:35.960> of<00:23:36.159> actually 00:23:36.630 --> 00:23:36.640 align:start position:0% doing the hard work of actually 00:23:36.640 --> 00:23:39.149 align:start position:0% doing the hard work of actually informing<00:23:37.360> regulators<00:23:38.360> and<00:23:38.720> we<00:23:38.960> keep 00:23:39.149 --> 00:23:39.159 align:start position:0% informing regulators and we keep 00:23:39.159 --> 00:23:41.230 align:start position:0% informing regulators and we keep building<00:23:40.000> like<00:23:40.159> we<00:23:40.360> keep<00:23:40.520> building<00:23:40.880> even<00:23:41.039> with 00:23:41.230 --> 00:23:41.240 align:start position:0% building like we keep building even with 00:23:41.240 --> 00:23:42.909 align:start position:0% building like we keep building even with gray<00:23:41.480> area<00:23:41.880> we<00:23:42.000> keep<00:23:42.159> building<00:23:42.480> like<00:23:42.600> the<00:23:42.679> show 00:23:42.909 --> 00:23:42.919 align:start position:0% gray area we keep building like the show 00:23:42.919 --> 00:23:44.750 align:start position:0% gray area we keep building like the show doesn't<00:23:43.200> stop<00:23:44.039> um<00:23:44.200> and<00:23:44.279> I<00:23:44.400> think<00:23:44.600> that's 00:23:44.750 --> 00:23:44.760 align:start position:0% doesn't stop um and I think that's 00:23:44.760 --> 00:23:47.190 align:start position:0% doesn't stop um and I think that's something<00:23:45.240> some<00:23:45.400> of<00:23:45.600> us<00:23:46.320> in<00:23:46.559> like<00:23:46.720> the<00:23:46.840> Western 00:23:47.190 --> 00:23:47.200 align:start position:0% something some of us in like the Western 00:23:47.200 --> 00:23:48.990 align:start position:0% something some of us in like the Western World<00:23:47.480> find<00:23:47.679> it<00:23:47.840> hard<00:23:48.080> to<00:23:48.279> kind<00:23:48.400> of<00:23:48.520> navigate 00:23:48.990 --> 00:23:49.000 align:start position:0% World find it hard to kind of navigate 00:23:49.000 --> 00:23:51.710 align:start position:0% World find it hard to kind of navigate around<00:23:49.440> is<00:23:49.679> because<00:23:50.600> like<00:23:50.799> even<00:23:51.080> when<00:23:51.279> Nigeria 00:23:51.710 --> 00:23:51.720 align:start position:0% around is because like even when Nigeria 00:23:51.720 --> 00:23:53.390 align:start position:0% around is because like even when Nigeria makes<00:23:52.039> crypto 00:23:53.390 --> 00:23:53.400 align:start position:0% makes crypto 00:23:53.400 --> 00:23:56.750 align:start position:0% makes crypto illegal<00:23:54.400> like<00:23:54.720> we<00:23:54.919> still<00:23:55.279> have<00:23:55.559> close<00:23:55.840> to<00:23:56.000> 15% 00:23:56.750 --> 00:23:56.760 align:start position:0% illegal like we still have close to 15% 00:23:56.760 --> 00:23:59.990 align:start position:0% illegal like we still have close to 15% of<00:23:56.880> the<00:23:57.000> country's<00:23:57.400> GDP<00:23:58.559> like<00:23:59.000> proportion 00:23:59.990 --> 00:24:00.000 align:start position:0% of the country's GDP like proportion 00:24:00.000 --> 00:24:02.750 align:start position:0% of the country's GDP like proportion transactions<00:24:00.600> happening<00:24:00.919> in<00:24:01.159> crypto<00:24:02.159> right 00:24:02.750 --> 00:24:02.760 align:start position:0% transactions happening in crypto right 00:24:02.760 --> 00:24:06.630 align:start position:0% transactions happening in crypto right so<00:24:03.760> yeah<00:24:04.159> it<00:24:04.240> makes<00:24:04.400> you<00:24:04.559> kind<00:24:04.679> of<00:24:04.840> Wonder<00:24:05.720> um 00:24:06.630 --> 00:24:06.640 align:start position:0% so yeah it makes you kind of Wonder um 00:24:06.640 --> 00:24:08.230 align:start position:0% so yeah it makes you kind of Wonder um like<00:24:07.039> what<00:24:07.279> what<00:24:07.440> what<00:24:07.559> some<00:24:07.720> of<00:24:07.880> those<00:24:08.120> kind 00:24:08.230 --> 00:24:08.240 align:start position:0% like what what what some of those kind 00:24:08.240 --> 00:24:10.269 align:start position:0% like what what what some of those kind of<00:24:08.440> guidelines<00:24:08.960> can<00:24:09.159> can<00:24:09.360> actually<00:24:09.640> have<00:24:09.799> an 00:24:10.269 --> 00:24:10.279 align:start position:0% of guidelines can can actually have an 00:24:10.279 --> 00:24:12.669 align:start position:0% of guidelines can can actually have an effect<00:24:11.279> I<00:24:11.360> think<00:24:11.520> we<00:24:11.679> have<00:24:11.840> about<00:24:12.080> one<00:24:12.279> or<00:24:12.440> two 00:24:12.669 --> 00:24:12.679 align:start position:0% effect I think we have about one or two 00:24:12.679 --> 00:24:14.470 align:start position:0% effect I think we have about one or two question<00:24:13.000> more<00:24:13.559> let's<00:24:13.840> let's<00:24:14.000> see<00:24:14.279> what<00:24:14.400> you 00:24:14.470 --> 00:24:14.480 align:start position:0% question more let's let's see what you 00:24:14.480 --> 00:24:18.470 align:start position:0% question more let's let's see what you want<00:24:14.559> to 00:24:18.470 --> 00:24:18.480 align:start position:0% 00:24:18.480 --> 00:24:21.990 align:start position:0% answer<00:24:19.480> am<00:24:19.600> I<00:24:19.840> hiring<00:24:20.559> are<00:24:20.640> you 00:24:21.990 --> 00:24:22.000 align:start position:0% answer am I hiring are you 00:24:22.000 --> 00:24:29.110 align:start position:0% answer am I hiring are you hiring<00:24:23.000> uh<00:24:23.720> I<00:24:23.799> mean<00:24:24.960> the<00:24:25.960> I<00:24:26.120> I<00:24:26.159> don't<00:24:26.360> know<00:24:26.760> guys 00:24:29.110 --> 00:24:29.120 align:start position:0% hiring uh I mean the I I don't know guys 00:24:29.120 --> 00:24:32.630 align:start position:0% hiring uh I mean the I I don't know guys uh<00:24:29.480> we<00:24:29.559> can<00:24:29.720> jam<00:24:30.000> outside<00:24:30.440> after<00:24:30.799> this<00:24:31.200> and<00:24:32.200> uh 00:24:32.630 --> 00:24:32.640 align:start position:0% uh we can jam outside after this and uh 00:24:32.640 --> 00:24:34.590 align:start position:0% uh we can jam outside after this and uh recruit<00:24:33.120> more<00:24:33.440> more<00:24:33.600> folks<00:24:33.919> to<00:24:34.120> help<00:24:34.360> answer 00:24:34.590 --> 00:24:34.600 align:start position:0% recruit more more folks to help answer 00:24:34.600 --> 00:24:36.590 align:start position:0% recruit more more folks to help answer the<00:24:34.799> question<00:24:35.240> but<00:24:35.640> yeah<00:24:35.960> I<00:24:36.080> guess<00:24:36.240> like<00:24:36.480> what 00:24:36.590 --> 00:24:36.600 align:start position:0% the question but yeah I guess like what 00:24:36.600 --> 00:24:39.110 align:start position:0% the question but yeah I guess like what needs<00:24:36.799> to<00:24:37.080> happen<00:24:37.640> before<00:24:38.000> a<00:24:38.200> Defcon<00:24:38.679> happens 00:24:39.110 --> 00:24:39.120 align:start position:0% needs to happen before a Defcon happens 00:24:39.120 --> 00:24:41.630 align:start position:0% needs to happen before a Defcon happens there<00:24:39.520> is<00:24:40.320> like<00:24:40.640> there's<00:24:40.840> a<00:24:40.960> lot<00:24:41.159> we<00:24:41.279> got<00:24:41.399> to<00:24:41.520> do 00:24:41.630 --> 00:24:41.640 align:start position:0% there is like there's a lot we got to do 00:24:41.640 --> 00:24:43.389 align:start position:0% there is like there's a lot we got to do on<00:24:41.760> the<00:24:41.960> continent<00:24:42.720> we<00:24:42.880> have<00:24:43.080> many 00:24:43.389 --> 00:24:43.399 align:start position:0% on the continent we have many 00:24:43.399 --> 00:24:46.510 align:start position:0% on the continent we have many communities<00:24:43.960> doing<00:24:44.360> real<00:24:44.760> work<00:24:45.760> uh<00:24:46.159> they<00:24:46.320> need 00:24:46.510 --> 00:24:46.520 align:start position:0% communities doing real work uh they need 00:24:46.520 --> 00:24:48.389 align:start position:0% communities doing real work uh they need a<00:24:46.640> lot<00:24:46.760> of<00:24:46.919> support<00:24:47.240> and<00:24:47.440> engagement<00:24:48.000> so<00:24:48.320> I 00:24:48.389 --> 00:24:48.399 align:start position:0% a lot of support and engagement so I 00:24:48.399 --> 00:24:50.870 align:start position:0% a lot of support and engagement so I think<00:24:48.679> that<00:24:48.880> will<00:24:49.399> bring<00:24:49.640> a<00:24:49.760> lot<00:24:49.880> of<00:24:50.080> value<00:24:50.760> we 00:24:50.870 --> 00:24:50.880 align:start position:0% think that will bring a lot of value we 00:24:50.880 --> 00:24:52.149 align:start position:0% think that will bring a lot of value we need<00:24:51.000> to<00:24:51.120> have<00:24:51.279> more<00:24:51.480> hackathons<00:24:52.039> and 00:24:52.149 --> 00:24:52.159 align:start position:0% need to have more hackathons and 00:24:52.159 --> 00:24:55.070 align:start position:0% need to have more hackathons and Builders<00:24:52.720> but<00:24:53.320> like<00:24:53.679> I<00:24:53.760> think<00:24:54.480> our<00:24:54.640> Builder 00:24:55.070 --> 00:24:55.080 align:start position:0% Builders but like I think our Builder 00:24:55.080 --> 00:24:57.350 align:start position:0% Builders but like I think our Builder Community<00:24:55.880> like<00:24:56.120> the<00:24:56.320> startups<00:24:56.840> that<00:24:56.960> we<00:24:57.080> have 00:24:57.350 --> 00:24:57.360 align:start position:0% Community like the startups that we have 00:24:57.360 --> 00:24:58.990 align:start position:0% Community like the startups that we have there<00:24:57.960> are 00:24:58.990 --> 00:24:59.000 align:start position:0% there are 00:24:59.000 --> 00:25:00.950 align:start position:0% there are from<00:24:59.159> a<00:24:59.320> user<00:24:59.640> experience<00:25:00.159> perspective<00:25:00.600> in<00:25:00.760> my 00:25:00.950 --> 00:25:00.960 align:start position:0% from a user experience perspective in my 00:25:00.960 --> 00:25:03.389 align:start position:0% from a user experience perspective in my opinion<00:25:01.279> or<00:25:01.520> like<00:25:02.000> way<00:25:02.279> ahead<00:25:02.760> from<00:25:03.000> what<00:25:03.159> we 00:25:03.389 --> 00:25:03.399 align:start position:0% opinion or like way ahead from what we 00:25:03.399 --> 00:25:06.070 align:start position:0% opinion or like way ahead from what we keep<00:25:03.640> talking<00:25:04.000> about<00:25:04.480> around<00:25:05.240> usability 00:25:06.070 --> 00:25:06.080 align:start position:0% keep talking about around usability 00:25:06.080 --> 00:25:09.190 align:start position:0% keep talking about around usability making<00:25:06.440> crypto<00:25:06.799> usable<00:25:07.200> for<00:25:07.440> daily<00:25:07.760> life<00:25:08.720> um 00:25:09.190 --> 00:25:09.200 align:start position:0% making crypto usable for daily life um 00:25:09.200 --> 00:25:10.750 align:start position:0% making crypto usable for daily life um like<00:25:09.440> whenever<00:25:09.880> I'm<00:25:10.039> in<00:25:10.159> many<00:25:10.440> African 00:25:10.750 --> 00:25:10.760 align:start position:0% like whenever I'm in many African 00:25:10.760 --> 00:25:13.070 align:start position:0% like whenever I'm in many African countries<00:25:11.240> like<00:25:11.760> I<00:25:11.840> don't<00:25:12.000> use<00:25:12.200> my<00:25:12.399> card<00:25:12.960> I 00:25:13.070 --> 00:25:13.080 align:start position:0% countries like I don't use my card I 00:25:13.080 --> 00:25:16.630 align:start position:0% countries like I don't use my card I don't<00:25:13.240> use<00:25:13.760> cash<00:25:14.760> I'm<00:25:14.960> just<00:25:15.279> like<00:25:15.679> paying<00:25:16.399> all 00:25:16.630 --> 00:25:16.640 align:start position:0% don't use cash I'm just like paying all 00:25:16.640 --> 00:25:19.350 align:start position:0% don't use cash I'm just like paying all types<00:25:16.840> of<00:25:17.000> bills<00:25:17.480> using<00:25:17.840> my<00:25:18.000> crypto<00:25:18.440> account 00:25:19.350 --> 00:25:19.360 align:start position:0% types of bills using my crypto account 00:25:19.360 --> 00:25:22.789 align:start position:0% types of bills using my crypto account um<00:25:20.320> and<00:25:21.320> I<00:25:21.440> think<00:25:21.679> I<00:25:21.760> think<00:25:21.960> that's<00:25:22.120> super<00:25:22.480> cool 00:25:22.789 --> 00:25:22.799 align:start position:0% um and I think I think that's super cool 00:25:22.799 --> 00:25:24.710 align:start position:0% um and I think I think that's super cool and<00:25:22.919> that's<00:25:23.159> amazing<00:25:23.640> so<00:25:24.200> like<00:25:24.399> even<00:25:24.600> the 00:25:24.710 --> 00:25:24.720 align:start position:0% and that's amazing so like even the 00:25:24.720 --> 00:25:27.990 align:start position:0% and that's amazing so like even the Builder<00:25:25.080> Community<00:25:25.440> alone<00:25:25.720> is<00:25:25.960> enough<00:25:26.960> uh<00:25:27.240> to 00:25:27.990 --> 00:25:28.000 align:start position:0% Builder Community alone is enough uh to 00:25:28.000 --> 00:25:30.149 align:start position:0% Builder Community alone is enough uh to host<00:25:28.440> you<00:25:28.559> all<00:25:29.240> all<00:25:29.440> right<00:25:29.720> keep<00:25:29.960> that 00:25:30.149 --> 00:25:30.159 align:start position:0% host you all all right keep that 00:25:30.159 --> 00:25:33.960 align:start position:0% host you all all right keep that Applause<00:25:30.600> for<00:25:30.880> the<00:25:31.120> speaker<00:25:31.679> thank<00:25:31.840> you