WEBVTT Kind: captions Language: en 00:00:01.010 --> 00:00:09.270 align:start position:0% [Music] 00:00:09.270 --> 00:00:09.280 align:start position:0% [Music] 00:00:09.280 --> 00:00:11.470 align:start position:0% [Music] good<00:00:09.719> afternoon<00:00:10.719> can<00:00:10.800> you<00:00:10.920> hear<00:00:11.080> me<00:00:11.280> back 00:00:11.470 --> 00:00:11.480 align:start position:0% good afternoon can you hear me back 00:00:11.480 --> 00:00:14.509 align:start position:0% good afternoon can you hear me back there<00:00:12.280> all<00:00:12.880> good<00:00:13.880> you<00:00:14.000> know<00:00:14.120> when<00:00:14.240> we<00:00:14.360> at 00:00:14.509 --> 00:00:14.519 align:start position:0% there all good you know when we at 00:00:14.519 --> 00:00:16.590 align:start position:0% there all good you know when we at PayPal<00:00:14.960> started<00:00:15.320> thinking<00:00:15.799> about<00:00:16.160> building<00:00:16.480> a 00:00:16.590 --> 00:00:16.600 align:start position:0% PayPal started thinking about building a 00:00:16.600 --> 00:00:18.189 align:start position:0% PayPal started thinking about building a stable<00:00:17.000> coin<00:00:17.320> that<00:00:17.400> was<00:00:17.520> going<00:00:17.640> to<00:00:17.760> form<00:00:18.039> the 00:00:18.189 --> 00:00:18.199 align:start position:0% stable coin that was going to form the 00:00:18.199 --> 00:00:21.109 align:start position:0% stable coin that was going to form the basis<00:00:18.480> of<00:00:18.640> a<00:00:18.760> new<00:00:18.960> way<00:00:19.119> to<00:00:19.400> pay<00:00:20.400> it<00:00:20.480> was<00:00:20.760> obvious 00:00:21.109 --> 00:00:21.119 align:start position:0% basis of a new way to pay it was obvious 00:00:21.119 --> 00:00:23.470 align:start position:0% basis of a new way to pay it was obvious to<00:00:21.320> us<00:00:21.560> that<00:00:21.680> it<00:00:21.760> was<00:00:21.880> going<00:00:22.000> to<00:00:22.119> launch<00:00:22.400> as<00:00:22.519> an 00:00:23.470 --> 00:00:23.480 align:start position:0% to us that it was going to launch as an 00:00:23.480 --> 00:00:25.750 align:start position:0% to us that it was going to launch as an erc20<00:00:24.480> because<00:00:24.760> after<00:00:25.000> all<00:00:25.599> the 00:00:25.750 --> 00:00:25.760 align:start position:0% erc20 because after all the 00:00:25.760 --> 00:00:27.990 align:start position:0% erc20 because after all the programmability<00:00:26.760> the<00:00:26.880> ubiquity<00:00:27.880> the 00:00:27.990 --> 00:00:28.000 align:start position:0% programmability the ubiquity the 00:00:28.000 --> 00:00:30.029 align:start position:0% programmability the ubiquity the strength<00:00:28.279> of<00:00:28.359> the<00:00:28.480> developer<00:00:28.960> community<00:00:29.759> and 00:00:30.029 --> 00:00:30.039 align:start position:0% strength of the developer community and 00:00:30.039 --> 00:00:31.710 align:start position:0% strength of the developer community and the<00:00:30.119> breadth<00:00:30.439> and<00:00:30.560> the<00:00:30.679> commitment<00:00:31.359> to 00:00:31.710 --> 00:00:31.720 align:start position:0% the breadth and the commitment to 00:00:31.720 --> 00:00:34.069 align:start position:0% the breadth and the commitment to continual<00:00:32.200> Innovation<00:00:33.200> and<00:00:33.440> evolution<00:00:33.920> of 00:00:34.069 --> 00:00:34.079 align:start position:0% continual Innovation and evolution of 00:00:34.079 --> 00:00:36.389 align:start position:0% continual Innovation and evolution of the<00:00:34.200> core<00:00:34.960> made<00:00:35.160> it<00:00:35.280> an<00:00:35.440> obvious<00:00:35.840> choice<00:00:36.160> for 00:00:36.389 --> 00:00:36.399 align:start position:0% the core made it an obvious choice for 00:00:36.399 --> 00:00:38.470 align:start position:0% the core made it an obvious choice for us<00:00:36.760> to<00:00:36.920> launch<00:00:37.280> for<00:00:37.480> a<00:00:37.600> token<00:00:38.000> that<00:00:38.120> we<00:00:38.239> knew 00:00:38.470 --> 00:00:38.480 align:start position:0% us to launch for a token that we knew 00:00:38.480 --> 00:00:41.270 align:start position:0% us to launch for a token that we knew was<00:00:38.640> going<00:00:38.800> to<00:00:39.000> become<00:00:39.559> a<00:00:39.760> global<00:00:40.320> Mass<00:00:40.640> Market 00:00:41.270 --> 00:00:41.280 align:start position:0% was going to become a global Mass Market 00:00:41.280 --> 00:00:42.549 align:start position:0% was going to become a global Mass Market adopted 00:00:42.549 --> 00:00:42.559 align:start position:0% adopted 00:00:42.559 --> 00:00:46.430 align:start position:0% adopted activity<00:00:43.559> we<00:00:43.760> had<00:00:43.960> this<00:00:44.360> hypothesis<00:00:45.360> that<00:00:45.640> by 00:00:46.430 --> 00:00:46.440 align:start position:0% activity we had this hypothesis that by 00:00:46.440 --> 00:00:49.029 align:start position:0% activity we had this hypothesis that by combining 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can<00:00:57.840> run<00:00:58.079> on<00:00:58.320> top<00:00:58.480> of<00:00:58.600> a 00:00:58.790 --> 00:00:58.800 align:start position:0% innovations that can run on top of a 00:00:58.800 --> 00:01:03.830 align:start position:0% innovations that can run on top of a foundation<00:00:59.760> of<00:01:00.039> of<00:01:00.960> uh<00:01:01.280> fast<00:01:02.000> secure<00:01:02.879> lowcost 00:01:03.830 --> 00:01:03.840 align:start position:0% foundation of of uh fast secure lowcost 00:01:03.840 --> 00:01:06.270 align:start position:0% foundation of of uh fast secure lowcost transparent<00:01:04.519> transactions<00:01:05.519> would<00:01:05.680> be<00:01:05.840> a<00:01:05.960> game 00:01:06.270 --> 00:01:06.280 align:start position:0% transparent transactions would be a game 00:01:06.280 --> 00:01:08.749 align:start position:0% transparent transactions would be a game Cher<00:01:06.760> for<00:01:07.040> financial<00:01:07.520> services<00:01:08.320> and<00:01:08.520> how<00:01:08.640> we 00:01:08.749 --> 00:01:08.759 align:start position:0% Cher for financial services and how we 00:01:08.759 --> 00:01:11.030 align:start position:0% Cher for financial services and how we move<00:01:09.040> money<00:01:09.320> around<00:01:09.600> the<00:01:09.720> world<00:01:10.600> because<00:01:10.880> most 00:01:11.030 --> 00:01:11.040 align:start position:0% move money around the world because most 00:01:11.040 --> 00:01:13.550 align:start position:0% move money around the world because most of<00:01:11.159> the<00:01:11.320> time<00:01:11.799> that<00:01:12.040> money<00:01:12.240> moves<00:01:12.640> today<00:01:13.159> using 00:01:13.550 --> 00:01:13.560 align:start position:0% of the time that money moves today using 00:01:13.560 --> 00:01:16.710 align:start position:0% of the time that money moves today using Technologies<00:01:14.360> and<00:01:14.600> systems<00:01:15.080> like<00:01:15.280> a<00:01:15.840> networks 00:01:16.710 --> 00:01:16.720 align:start position:0% Technologies and systems like a networks 00:01:16.720 --> 00:01:19.030 align:start position:0% Technologies and systems like a networks correspondent<00:01:17.360> Banking<00:01:18.000> and<00:01:18.200> wire<00:01:18.520> transfer 00:01:19.030 --> 00:01:19.040 align:start position:0% correspondent Banking and wire transfer 00:01:19.040 --> 00:01:21.350 align:start position:0% correspondent Banking and wire transfer systems<00:01:19.479> that<00:01:19.600> are<00:01:19.799> literally<00:01:20.360> over<00:01:20.680> 150 00:01:21.350 --> 00:01:21.360 align:start position:0% systems that are literally over 150 00:01:21.360 --> 00:01:22.670 align:start position:0% systems that are literally over 150 years 00:01:22.670 --> 00:01:22.680 align:start position:0% years 00:01:22.680 --> 00:01:25.270 align:start position:0% years old<00:01:23.680> and<00:01:24.040> when<00:01:24.200> we<00:01:24.439> actually<00:01:24.680> launched<00:01:25.119> in 00:01:25.270 --> 00:01:25.280 align:start position:0% old and when we actually launched in 00:01:25.280 --> 00:01:28.910 align:start position:0% old and when we actually launched in August<00:01:25.560> of<00:01:25.720> 2023<00:01:26.560> with<00:01:26.880> PUSD<00:01:27.880> we<00:01:28.000> were<00:01:28.240> pleased 00:01:28.910 --> 00:01:28.920 align:start position:0% August of 2023 with PUSD we were pleased 00:01:28.920 --> 00:01:31.710 align:start position:0% August of 2023 with PUSD we were pleased and<00:01:30.000> actually<00:01:30.320> somewhat<00:01:30.640> relieved<00:01:31.280> to<00:01:31.479> find 00:01:31.710 --> 00:01:31.720 align:start position:0% and actually somewhat relieved to find 00:01:31.720 --> 00:01:34.550 align:start position:0% and actually somewhat relieved to find out<00:01:31.920> that<00:01:32.119> that<00:01:32.320> hypothesis<00:01:33.000> was<00:01:33.439> correct<00:01:34.439> the 00:01:34.550 --> 00:01:34.560 align:start position:0% out that that hypothesis was correct the 00:01:34.560 --> 00:01:36.950 align:start position:0% out that that hypothesis was correct the ink<00:01:34.840> was<00:01:35.240> barely<00:01:35.600> dry<00:01:35.960> on<00:01:36.119> the<00:01:36.320> virtual<00:01:36.799> sort 00:01:36.950 --> 00:01:36.960 align:start position:0% ink was barely dry on the virtual sort 00:01:36.960 --> 00:01:38.670 align:start position:0% ink was barely dry on the virtual sort of<00:01:37.119> press<00:01:37.360> release<00:01:37.720> that<00:01:37.920> we<00:01:38.040> did<00:01:38.320> before<00:01:38.560> we 00:01:38.670 --> 00:01:38.680 align:start position:0% of press release that we did before we 00:01:38.680 --> 00:01:41.550 align:start position:0% of press release that we did before we started<00:01:39.000> hearing<00:01:39.479> from<00:01:40.320> Regulators<00:01:41.280> from 00:01:41.550 --> 00:01:41.560 align:start position:0% started hearing from Regulators from 00:01:41.560 --> 00:01:45.469 align:start position:0% started hearing from Regulators from crypto<00:01:41.960> enthusiasts<00:01:42.920> from<00:01:43.439> press<00:01:43.960> from<00:01:44.479> media 00:01:45.469 --> 00:01:45.479 align:start position:0% crypto enthusiasts from press from media 00:01:45.479 --> 00:01:48.670 align:start position:0% crypto enthusiasts from press from media uh<00:01:45.640> and<00:01:45.960> from<00:01:46.759> uh<00:01:47.119> uh<00:01:47.320> normal<00:01:47.759> customers<00:01:48.399> and 00:01:48.670 --> 00:01:48.680 align:start position:0% uh and from uh uh normal customers and 00:01:48.680 --> 00:01:50.950 align:start position:0% uh and from uh uh normal customers and and<00:01:48.960> Merchants<00:01:49.960> that<00:01:50.240> we<00:01:50.399> were<00:01:50.600> on<00:01:50.759> to 00:01:50.950 --> 00:01:50.960 align:start position:0% and Merchants that we were on to 00:01:50.960 --> 00:01:52.590 align:start position:0% and Merchants that we were on to something<00:01:51.799> and<00:01:51.920> that<00:01:52.040> was<00:01:52.240> especially 00:01:52.590 --> 00:01:52.600 align:start position:0% something and that was especially 00:01:52.600 --> 00:01:53.990 align:start position:0% something and that was especially interesting<00:01:53.079> because<00:01:53.320> these<00:01:53.439> are<00:01:53.600> not 00:01:53.990 --> 00:01:54.000 align:start position:0% interesting because these are not 00:01:54.000 --> 00:01:56.389 align:start position:0% interesting because these are not audiences<00:01:54.640> that<00:01:54.799> typically<00:01:55.159> tend<00:01:55.399> to<00:01:55.600> agree 00:01:56.389 --> 00:01:56.399 align:start position:0% audiences that typically tend to agree 00:01:56.399 --> 00:01:57.709 align:start position:0% audiences that typically tend to agree especially<00:01:56.759> when<00:01:56.840> it<00:01:56.960> comes<00:01:57.159> to<00:01:57.320> things<00:01:57.560> like 00:01:57.709 --> 00:01:57.719 align:start position:0% especially when it comes to things like 00:01:57.719 --> 00:02:00.350 align:start position:0% especially when it comes to things like crypto 00:02:00.350 --> 00:02:00.360 align:start position:0% crypto 00:02:00.360 --> 00:02:03.990 align:start position:0% crypto what<00:02:00.640> we<00:02:00.799> found<00:02:01.079> at<00:02:01.240> the<00:02:01.439> time<00:02:02.280> was<00:02:02.799> that<00:02:03.320> the 00:02:03.990 --> 00:02:04.000 align:start position:0% what we found at the time was that the 00:02:04.000 --> 00:02:06.270 align:start position:0% what we found at the time was that the uh<00:02:04.200> promise<00:02:04.719> of<00:02:04.880> what<00:02:04.960> we<00:02:05.079> were<00:02:05.240> trying<00:02:05.439> to 00:02:06.270 --> 00:02:06.280 align:start position:0% uh promise of what we were trying to 00:02:06.280 --> 00:02:09.150 align:start position:0% uh promise of what we were trying to offer<00:02:07.280> through<00:02:07.600> that<00:02:08.360> was<00:02:08.599> actually<00:02:08.920> quite 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align:start position:0% particularly noteworthy for us because actually<00:02:15.879> the<00:02:16.040> road<00:02:16.360> to<00:02:16.519> launching<00:02:16.959> PUSD<00:02:17.800> for 00:02:17.990 --> 00:02:18.000 align:start position:0% actually the road to launching PUSD for 00:02:18.000 --> 00:02:20.550 align:start position:0% actually the road to launching PUSD for us<00:02:18.200> was<00:02:18.360> a<00:02:18.519> little<00:02:18.720> bit<00:02:19.160> Rocky<00:02:20.080> at<00:02:20.200> least<00:02:20.400> in 00:02:20.550 --> 00:02:20.560 align:start position:0% us was a little bit Rocky at least in 00:02:20.560 --> 00:02:23.390 align:start position:0% us was a little bit Rocky at least in The<00:02:20.720> Last<00:02:21.000> Mile<00:02:21.879> because<00:02:22.080> you<00:02:22.200> see<00:02:22.400> PUSD<00:02:23.160> as<00:02:23.239> a 00:02:23.390 --> 00:02:23.400 align:start position:0% The Last Mile because you see PUSD as a 00:02:23.400 --> 00:02:25.750 align:start position:0% The Last Mile because you see PUSD as a token<00:02:23.879> is<00:02:24.040> regulated<00:02:24.519> and<00:02:24.680> green<00:02:25.080> lit<00:02:25.400> green 00:02:25.750 --> 00:02:25.760 align:start position:0% token is regulated and green lit green 00:02:25.760 --> 00:02:27.309 align:start position:0% token is regulated and green lit green listed<00:02:26.280> by<00:02:26.440> the<00:02:26.560> New<00:02:26.680> York<00:02:26.879> Department<00:02:27.200> of 00:02:27.309 --> 00:02:27.319 align:start position:0% listed by the New York Department of 00:02:27.319 --> 00:02:29.550 align:start position:0% listed by the New York Department of Financial<00:02:27.720> Services<00:02:28.560> the<00:02:28.680> reserves<00:02:29.200> that<00:02:29.319> we 00:02:29.550 --> 00:02:29.560 align:start position:0% Financial Services the reserves that we 00:02:29.560 --> 00:02:30.390 align:start position:0% Financial Services the reserves that we have 00:02:30.390 --> 00:02:30.400 align:start position:0% have 00:02:30.400 --> 00:02:33.790 align:start position:0% have are<00:02:31.160> held<00:02:31.599> bankruptcy<00:02:32.200> remote<00:02:32.760> in<00:02:33.080> a<00:02:33.360> limited 00:02:33.790 --> 00:02:33.800 align:start position:0% are held bankruptcy remote in a limited 00:02:33.800 --> 00:02:35.869 align:start position:0% are held bankruptcy remote in a limited purpose<00:02:34.160> trust<00:02:34.879> in<00:02:35.040> the<00:02:35.160> name<00:02:35.360> of<00:02:35.519> token 00:02:35.869 --> 00:02:35.879 align:start position:0% purpose trust in the name of token 00:02:35.879 --> 00:02:38.309 align:start position:0% purpose trust in the name of token holders<00:02:36.680> and<00:02:36.840> both<00:02:37.120> PayPal<00:02:37.519> and<00:02:37.680> paxos<00:02:38.160> our 00:02:38.309 --> 00:02:38.319 align:start position:0% holders and both PayPal and paxos our 00:02:38.319 --> 00:02:40.990 align:start position:0% holders and both PayPal and paxos our issuing<00:02:38.760> partner<00:02:39.400> are<00:02:40.000> regulated<00:02:40.560> financial 00:02:40.990 --> 00:02:41.000 align:start position:0% issuing partner are regulated financial 00:02:41.000 --> 00:02:42.910 align:start position:0% issuing partner are regulated financial services<00:02:41.480> companies<00:02:41.920> in<00:02:42.040> the<00:02:42.200> US<00:02:42.680> and 00:02:42.910 --> 00:02:42.920 align:start position:0% services companies in the US and 00:02:42.920 --> 00:02:45.229 align:start position:0% services companies in the US and elsewhere<00:02:43.920> and<00:02:44.040> what<00:02:44.200> that<00:02:44.360> meant<00:02:44.760> was<00:02:45.040> that 00:02:45.229 --> 00:02:45.239 align:start position:0% elsewhere and what that meant was that 00:02:45.239 --> 00:02:47.869 align:start position:0% elsewhere and what that meant was that before<00:02:45.599> we<00:02:45.760> could<00:02:46.040> launch<00:02:47.040> we<00:02:47.280> actually<00:02:47.680> had 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speculated 00:02:54.400 --> 00:02:55.990 align:start position:0% even though it was widely speculated that<00:02:54.519> PayPal<00:02:54.879> was<00:02:55.000> working<00:02:55.239> on<00:02:55.319> a<00:02:55.440> stable<00:02:55.760> coin 00:02:55.990 --> 00:02:56.000 align:start position:0% that PayPal was working on a stable coin 00:02:56.000 --> 00:02:58.190 align:start position:0% that PayPal was working on a stable coin for<00:02:56.159> some<00:02:56.440> time<00:02:57.080> we<00:02:57.239> couldn't<00:02:57.599> actually<00:02:57.959> talk 00:02:58.190 --> 00:02:58.200 align:start position:0% for some time we couldn't actually talk 00:02:58.200 --> 00:03:00.830 align:start position:0% for some time we couldn't actually talk about<00:02:58.400> it<00:02:58.560> to<00:02:58.840> anyone<00:02:59.840> until<00:03:00.120> literally<00:03:00.680> the 00:03:00.830 --> 00:03:00.840 align:start position:0% about it to anyone until literally the 00:03:00.840 --> 00:03:02.949 align:start position:0% about it to anyone until literally the day<00:03:01.040> before<00:03:01.319> we<00:03:01.480> launched<00:03:02.400> which<00:03:02.519> is<00:03:02.720> not 00:03:02.949 --> 00:03:02.959 align:start position:0% day before we launched which is not 00:03:02.959 --> 00:03:05.789 align:start position:0% day before we launched which is not great<00:03:03.200> from<00:03:03.360> a<00:03:03.480> product<00:03:03.760> launch 00:03:05.789 --> 00:03:05.799 align:start position:0% great from a product launch 00:03:05.799 --> 00:03:09.229 align:start position:0% great from a product launch perspective<00:03:07.120> fortunately<00:03:08.120> the<00:03:08.319> community 00:03:09.229 --> 00:03:09.239 align:start position:0% perspective fortunately the community 00:03:09.239 --> 00:03:11.750 align:start position:0% perspective fortunately the community all<00:03:09.440> of<00:03:09.640> you<00:03:10.280> delivered<00:03:10.959> and<00:03:11.120> within<00:03:11.440> a<00:03:11.519> few 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at<00:03:25.400> yellow<00:03:25.760> card 00:03:26.470 --> 00:03:26.480 align:start position:0% our friends over at yellow card 00:03:26.480 --> 00:03:28.710 align:start position:0% our friends over at yellow card integrated<00:03:27.000> py<00:03:27.360> USD<00:03:27.920> pretty<00:03:28.159> quickly<00:03:28.519> and 00:03:28.710 --> 00:03:28.720 align:start position:0% integrated py USD pretty quickly and 00:03:28.720 --> 00:03:30.429 align:start position:0% integrated py USD pretty quickly and they<00:03:28.959> allowed<00:03:29.280> for<00:03:29.480> the<00:03:29.760> movement<00:03:30.040> of<00:03:30.159> funds 00:03:30.429 --> 00:03:30.439 align:start position:0% they allowed for the movement of funds 00:03:30.439 --> 00:03:32.390 align:start position:0% they allowed for the movement of funds from<00:03:30.560> a<00:03:30.680> venmo<00:03:31.120> wallet<00:03:31.400> for<00:03:31.599> example<00:03:31.959> to 00:03:32.390 --> 00:03:32.400 align:start position:0% from a venmo wallet for example to 00:03:32.400 --> 00:03:35.270 align:start position:0% from a venmo wallet for example to Yellow<00:03:32.760> Card<00:03:33.040> in<00:03:33.280> Africa<00:03:34.239> where<00:03:34.599> the<00:03:34.840> cost<00:03:35.120> of 00:03:35.270 --> 00:03:35.280 align:start position:0% Yellow Card in Africa where the cost of 00:03:35.280 --> 00:03:37.429 align:start position:0% Yellow Card in Africa where the cost of moving<00:03:35.599> money<00:03:36.000> from<00:03:36.439> 100<00:03:36.760> sorry<00:03:37.120> the<00:03:37.200> cost<00:03:37.360> of 00:03:37.429 --> 00:03:37.439 align:start position:0% moving money from 100 sorry the cost of 00:03:37.439 --> 00:03:39.509 align:start position:0% moving money from 100 sorry the cost of moving<00:03:37.720> $100<00:03:38.439> from<00:03:38.640> venmo<00:03:39.040> in<00:03:39.120> the<00:03:39.200> United 00:03:39.509 --> 00:03:39.519 align:start position:0% moving $100 from venmo in the United 00:03:39.519 --> 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blocks integrated it for 00:03:49.319 --> 00:03:50.830 align:start position:0% rails uh fire blocks integrated it for businesses<00:03:49.920> so<00:03:50.080> that<00:03:50.280> businesses<00:03:50.680> that 00:03:50.830 --> 00:03:50.840 align:start position:0% businesses so that businesses that 00:03:50.840 --> 00:03:52.350 align:start position:0% businesses so that businesses that wanted<00:03:51.080> to<00:03:51.239> take<00:03:51.439> advantage<00:03:51.840> of<00:03:52.000> digital 00:03:52.350 --> 00:03:52.360 align:start position:0% wanted to take advantage of digital 00:03:52.360 --> 00:03:54.670 align:start position:0% wanted to take advantage of digital asset<00:03:52.680> payments<00:03:53.640> but<00:03:53.799> we<00:03:54.000> waiting<00:03:54.319> for<00:03:54.519> a 00:03:54.670 --> 00:03:54.680 align:start position:0% asset payments but we waiting for a 00:03:54.680 --> 00:03:56.550 align:start position:0% asset payments but we waiting for a trusted<00:03:55.200> well-known<00:03:55.720> and<00:03:55.879> well<00:03:56.040> understood 00:03:56.550 --> 00:03:56.560 align:start position:0% trusted well-known and well understood 00:03:56.560 --> 00:03:58.229 align:start position:0% trusted well-known and well understood Financial<00:03:57.040> brand<00:03:57.480> to<00:03:57.560> be<00:03:57.680> able<00:03:57.799> to<00:03:57.920> get<00:03:58.040> on<00:03:58.159> the 00:03:58.229 --> 00:03:58.239 align:start position:0% Financial brand to be able to get on the 00:03:58.239 --> 00:04:00.429 align:start position:0% Financial brand to be able to get on the bandwagon<00:03:58.840> could<00:03:59.040> finally<00:03:59.360> do<00:03:59.519> so 00:04:00.429 --> 00:04:00.439 align:start position:0% bandwagon could finally do so 00:04:00.439 --> 00:04:02.630 align:start position:0% bandwagon could finally do so in<00:04:00.599> fact<00:04:00.799> in<00:04:00.920> the<00:04:01.040> few<00:04:01.239> weeks<00:04:01.519> after<00:04:01.760> launch 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of<00:04:11.920> course<00:04:12.680> ethereum<00:04:13.200> isn't 00:04:13.710 --> 00:04:13.720 align:start position:0% exchanges but of course ethereum isn't 00:04:13.720 --> 00:04:17.710 align:start position:0% exchanges but of course ethereum isn't perfect<00:04:14.640> yet<00:04:15.079> anyway<00:04:16.000> right<00:04:16.680> gas<00:04:16.959> fees<00:04:17.320> can<00:04:17.479> be 00:04:17.710 --> 00:04:17.720 align:start position:0% perfect yet anyway right gas fees can be 00:04:17.720 --> 00:04:20.110 align:start position:0% perfect yet anyway right gas fees can be unpredictable<00:04:18.720> and<00:04:19.160> are<00:04:19.320> known<00:04:19.560> to<00:04:19.759> spike 00:04:20.110 --> 00:04:20.120 align:start position:0% unpredictable and are known to spike 00:04:20.120 --> 00:04:23.390 align:start position:0% unpredictable and are known to spike from<00:04:20.359> time<00:04:20.560> to<00:04:20.840> time<00:04:21.840> the<00:04:22.320> transparency<00:04:23.280> that 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position:0% sensitive Financial transactions like like<00:04:29.880> payroll<00:04:30.360> or<00:04:30.520> businessto<00:04:31.000> business 00:04:31.310 --> 00:04:31.320 align:start position:0% like payroll or businessto business 00:04:31.320 --> 00:04:32.430 align:start position:0% like payroll or businessto business where<00:04:31.400> you<00:04:31.520> don't<00:04:31.720> necessarily<00:04:32.120> want<00:04:32.240> to 00:04:32.430 --> 00:04:32.440 align:start position:0% where you don't necessarily want to 00:04:32.440 --> 00:04:34.189 align:start position:0% where you don't necessarily want to expose<00:04:32.840> the<00:04:32.960> salaries<00:04:33.360> of<00:04:33.560> all<00:04:33.680> of<00:04:33.800> your<00:04:33.960> team 00:04:34.189 --> 00:04:34.199 align:start position:0% expose the salaries of all of your team 00:04:34.199 --> 00:04:36.110 align:start position:0% expose the salaries of all of your team members<00:04:34.919> or<00:04:35.080> your<00:04:35.320> intimate<00:04:35.759> business 00:04:36.110 --> 00:04:36.120 align:start position:0% members or your intimate business 00:04:36.120 --> 00:04:39.150 align:start position:0% members or your intimate business records<00:04:36.720> to<00:04:36.919> the<00:04:37.120> public<00:04:37.800> internet<00:04:38.800> and<00:04:38.960> of 00:04:39.150 --> 00:04:39.160 align:start position:0% records to the public internet and of 00:04:39.160 --> 00:04:41.150 align:start position:0% records to the public internet and of course<00:04:39.759> the<00:04:39.919> ease<00:04:40.160> of<00:04:40.320> use<00:04:40.600> that<00:04:40.720> we<00:04:40.880> talked 00:04:41.150 --> 00:04:41.160 align:start position:0% course the ease of use that we talked 00:04:41.160 --> 00:04:42.790 align:start position:0% course the ease of use that we talked about<00:04:41.400> in<00:04:41.520> terms<00:04:41.800> of<00:04:41.960> being<00:04:42.160> able<00:04:42.320> to<00:04:42.479> bring 00:04:42.790 --> 00:04:42.800 align:start position:0% about in terms of being able to bring 00:04:42.800 --> 00:04:45.270 align:start position:0% about in terms of being able to bring PUSD<00:04:43.639> online<00:04:44.000> for<00:04:44.240> us<00:04:44.720> meant<00:04:44.919> that<00:04:45.039> it<00:04:45.120> was 00:04:45.270 --> 00:04:45.280 align:start position:0% PUSD online for us meant that it was 00:04:45.280 --> 00:04:47.550 align:start position:0% PUSD online for us meant that it was easy<00:04:45.680> for<00:04:45.840> scammers<00:04:46.320> to<00:04:46.520> go<00:04:46.639> and<00:04:46.840> create 00:04:47.550 --> 00:04:47.560 align:start position:0% easy for scammers to go and create 00:04:47.560 --> 00:04:49.629 align:start position:0% easy for scammers to go and create impostor<00:04:48.120> coins<00:04:48.520> or<00:04:48.759> other<00:04:49.000> kinds<00:04:49.240> of<00:04:49.400> fake 00:04:49.629 --> 00:04:49.639 align:start position:0% impostor coins or other kinds of fake 00:04:49.639 --> 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are<00:04:58.160> the<00:04:58.400> lifeblood<00:04:58.880> and<00:04:59.000> the 00:04:59.150 --> 00:04:59.160 align:start position:0% because you are the lifeblood and the 00:04:59.160 --> 00:05:00.990 align:start position:0% because you are the lifeblood and the power<00:04:59.440> that<00:04:59.759> actually<00:05:00.000> drives<00:05:00.400> Innovation 00:05:00.990 --> 00:05:01.000 align:start position:0% power that actually drives Innovation 00:05:01.000 --> 00:05:02.510 align:start position:0% power that actually drives Innovation and<00:05:01.160> why<00:05:01.320> we<00:05:01.440> are<00:05:01.639> particularly<00:05:02.080> interested 00:05:02.510 --> 00:05:02.520 align:start position:0% and why we are particularly interested 00:05:02.520 --> 00:05:05.510 align:start position:0% and why we are particularly interested in<00:05:03.000> tracking<00:05:03.479> the<00:05:03.639> eips<00:05:04.360> around<00:05:04.720> things<00:05:05.000> like 00:05:05.510 --> 00:05:05.520 align:start position:0% in tracking the eips around things like 00:05:05.520 --> 00:05:07.749 align:start position:0% in tracking the eips around things like extending<00:05:05.960> account<00:05:06.320> abstraction<00:05:07.320> around 00:05:07.749 --> 00:05:07.759 align:start position:0% extending account abstraction around 00:05:07.759 --> 00:05:09.430 align:start position:0% extending account abstraction around faster<00:05:08.080> times<00:05:08.360> to<00:05:08.520> settlement<00:05:09.039> and<00:05:09.199> new 00:05:09.430 --> 00:05:09.440 align:start position:0% faster times to settlement and new 00:05:09.440 --> 00:05:11.590 align:start position:0% faster times to settlement and new capabilities<00:05:09.960> that<00:05:10.080> are<00:05:10.199> bringing<00:05:10.600> online<00:05:11.199> in 00:05:11.590 --> 00:05:11.600 align:start position:0% capabilities that are bringing online in 00:05:11.600 --> 00:05:13.710 align:start position:0% capabilities that are bringing online in core<00:05:12.240> the<00:05:12.400> things<00:05:12.639> that<00:05:12.800> we<00:05:12.919> need<00:05:13.120> to<00:05:13.400> extend 00:05:13.710 --> 00:05:13.720 align:start position:0% core the things that we need to extend 00:05:13.720 --> 00:05:16.150 align:start position:0% core the things that we need to extend py<00:05:14.080> USD<00:05:14.479> for<00:05:14.639> payments<00:05:15.360> we're<00:05:15.600> excited<00:05:15.960> by 00:05:16.150 --> 00:05:16.160 align:start position:0% py USD for payments we're excited by 00:05:16.160 --> 00:05:18.309 align:start position:0% py USD for payments we're excited by what's<00:05:16.320> going<00:05:16.479> on<00:05:16.680> the<00:05:16.800> L2<00:05:17.320> space<00:05:17.720> that<00:05:17.880> allows 00:05:18.309 --> 00:05:18.319 align:start position:0% what's going on the L2 space that allows 00:05:18.319 --> 00:05:21.029 align:start position:0% what's going on the L2 space that allows us<00:05:19.000> to<00:05:19.560> address<00:05:19.960> some<00:05:20.120> of<00:05:20.240> the<00:05:20.400> scalability 00:05:21.029 --> 00:05:21.039 align:start position:0% us to address some of the scalability 00:05:21.039 --> 00:05:22.430 align:start position:0% us to address some of the scalability and<00:05:21.199> Performance<00:05:21.720> challenges<00:05:22.199> that<00:05:22.319> I 00:05:22.430 --> 00:05:22.440 align:start position:0% and Performance challenges that I 00:05:22.440 --> 00:05:24.390 align:start position:0% and Performance challenges that I mentioned<00:05:22.800> earlier<00:05:23.360> and<00:05:23.479> bring<00:05:23.800> new<00:05:24.039> kinds<00:05:24.240> of 00:05:24.390 --> 00:05:24.400 align:start position:0% mentioned earlier and bring new kinds of 00:05:24.400 --> 00:05:27.670 align:start position:0% mentioned earlier and bring new kinds of tokens<00:05:25.240> uh<00:05:25.400> to<00:05:25.759> light<00:05:26.759> and<00:05:26.880> we're<00:05:27.080> excited<00:05:27.520> in 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the trafi 00:05:35.840 --> 00:05:38.029 align:start position:0% also more importantly for us the trafi companies<00:05:36.199> that<00:05:36.319> are<00:05:36.560> really<00:05:37.280> uh<00:05:37.400> like<00:05:37.680> sap 00:05:38.029 --> 00:05:38.039 align:start position:0% companies that are really uh like sap 00:05:38.039 --> 00:05:40.390 align:start position:0% companies that are really uh like sap and<00:05:38.199> ey<00:05:39.000> that<00:05:39.120> are<00:05:39.280> really<00:05:39.479> set<00:05:39.720> up<00:05:39.880> to<00:05:40.120> create 00:05:40.390 --> 00:05:40.400 align:start position:0% and ey that are really set up to create 00:05:40.400 --> 00:05:43.469 align:start position:0% and ey that are really set up to create Market<00:05:40.800> fit<00:05:41.440> for<00:05:41.919> the<00:05:42.080> entirety<00:05:42.680> of<00:05:42.840> global 00:05:43.469 --> 00:05:43.479 align:start position:0% Market fit for the entirety of global 00:05:43.479 --> 00:05:45.670 align:start position:0% Market fit for the entirety of global Commerce<00:05:44.479> and<00:05:44.600> that's<00:05:44.759> one<00:05:44.840> of<00:05:44.960> the<00:05:45.199> reasons 00:05:45.670 --> 00:05:45.680 align:start position:0% Commerce and that's one of the reasons 00:05:45.680 --> 00:05:48.029 align:start position:0% Commerce and that's one of the reasons why<00:05:46.080> we<00:05:46.240> are<00:05:46.440> committed<00:05:46.840> to<00:05:47.199> and<00:05:47.440> being<00:05:47.759> proud 00:05:48.029 --> 00:05:48.039 align:start position:0% why we are committed to and being proud 00:05:48.039 --> 00:05:50.150 align:start position:0% why we are committed to and being proud to<00:05:48.160> be<00:05:48.360> part<00:05:48.520> of<00:05:48.680> this<00:05:48.919> environment<00:05:49.919> uh<00:05:50.039> we 00:05:50.150 --> 00:05:50.160 align:start position:0% to be part of this environment uh we 00:05:50.160 --> 00:05:52.070 align:start position:0% to be part of this environment uh we have<00:05:50.280> announced<00:05:50.720> recently<00:05:51.360> that<00:05:51.560> as<00:05:51.720> part<00:05:51.880> of 00:05:52.070 --> 00:05:52.080 align:start position:0% have announced recently that as part of 00:05:52.080 --> 00:05:53.870 align:start position:0% have announced recently that as part of that<00:05:52.280> commitment<00:05:52.800> that<00:05:53.000> we've<00:05:53.280> just<00:05:53.440> launched 00:05:53.870 --> 00:05:53.880 align:start position:0% that commitment that we've just launched 00:05:53.880 --> 00:05:56.150 align:start position:0% that commitment that we've just launched in<00:05:54.039> conjunction<00:05:54.560> with<00:05:55.360> uh<00:05:55.520> our<00:05:55.680> friends<00:05:55.960> at 00:05:56.150 --> 00:05:56.160 align:start position:0% in conjunction with uh our friends at 00:05:56.160 --> 00:05:58.710 align:start position:0% in conjunction with uh our friends at paxos<00:05:56.680> and<00:05:56.840> layer<00:05:57.199> zero<00:05:57.840> a<00:05:58.000> bridge<00:05:58.400> that<00:05:58.520> will 00:05:58.710 --> 00:05:58.720 align:start position:0% paxos and layer zero a bridge that will 00:05:58.720 --> 00:06:01.590 align:start position:0% paxos and layer zero a bridge that will allow<00:05:59.000> for<00:05:59.319> the<00:05:59.680> interoperability<00:06:00.479> of<00:06:00.680> py<00:06:01.080> USD 00:06:01.590 --> 00:06:01.600 align:start position:0% allow for the interoperability of py USD 00:06:01.600 --> 00:06:04.110 align:start position:0% allow for the interoperability of py USD on<00:06:01.800> ethereum<00:06:02.319> to<00:06:02.560> salana<00:06:03.560> uh<00:06:03.639> you<00:06:03.759> can<00:06:03.960> get 00:06:04.110 --> 00:06:04.120 align:start position:0% on ethereum to salana uh you can get 00:06:04.120 --> 00:06:06.589 align:start position:0% on ethereum to salana uh you can get that<00:06:04.280> on<00:06:04.600> Galaxy<00:06:05.120> today<00:06:06.000> and<00:06:06.120> we<00:06:06.280> think<00:06:06.440> that 00:06:06.589 --> 00:06:06.599 align:start position:0% that on Galaxy today and we think that 00:06:06.599 --> 00:06:08.350 align:start position:0% that on Galaxy today and we think that that<00:06:06.720> is<00:06:06.880> going<00:06:07.039> to<00:06:07.280> extend<00:06:07.840> and<00:06:08.000> further 00:06:08.350 --> 00:06:08.360 align:start position:0% that is going to extend and further 00:06:08.360 --> 00:06:09.670 align:start position:0% that is going to extend and further expand<00:06:08.800> the<00:06:08.919> utility<00:06:09.440> and<00:06:09.560> the 00:06:09.670 --> 00:06:09.680 align:start position:0% expand the utility and the 00:06:09.680 --> 00:06:11.710 align:start position:0% expand the utility and the interoperability<00:06:10.440> of<00:06:10.599> py<00:06:10.919> USD<00:06:11.319> for<00:06:11.479> both 00:06:11.710 --> 00:06:11.720 align:start position:0% interoperability of py USD for both 00:06:11.720 --> 00:06:12.950 align:start position:0% interoperability of py USD for both Commerce<00:06:12.120> and 00:06:12.950 --> 00:06:12.960 align:start position:0% Commerce and 00:06:12.960 --> 00:06:16.150 align:start position:0% Commerce and defi<00:06:13.960> we're<00:06:14.160> just<00:06:14.360> getting<00:06:14.680> started<00:06:15.680> so<00:06:15.919> we 00:06:16.150 --> 00:06:16.160 align:start position:0% defi we're just getting started so we 00:06:16.160 --> 00:06:19.390 align:start position:0% defi we're just getting started so we invite<00:06:16.479> you<00:06:16.639> to<00:06:16.840> join<00:06:17.240> us<00:06:17.880> in<00:06:18.599> going<00:06:18.960> and<00:06:19.199> and 00:06:19.390 --> 00:06:19.400 align:start position:0% invite you to join us in going and and 00:06:19.400 --> 00:06:21.589 align:start position:0% invite you to join us in going and and revolutionizing<00:06:20.199> digital<00:06:20.599> Commerce<00:06:21.120> through 00:06:21.589 --> 00:06:21.599 align:start position:0% revolutionizing digital Commerce through 00:06:21.599 --> 00:06:24.390 align:start position:0% revolutionizing digital Commerce through digital<00:06:22.360> uh<00:06:22.520> assets<00:06:22.960> and<00:06:23.240> and<00:06:23.360> defi<00:06:24.080> thank<00:06:24.240> you 00:06:24.390 --> 00:06:24.400 align:start position:0% digital uh assets and and defi thank you 00:06:24.400 --> 00:06:27.830 align:start position:0% digital uh assets and and defi thank you very<00:06:24.560> much<00:06:25.560> thank<00:06:25.759> you<00:06:26.120> Edwin<00:06:27.120> we<00:06:27.479> probably 00:06:27.830 --> 00:06:27.840 align:start position:0% very much thank you Edwin we probably 00:06:27.840 --> 00:06:30.029 align:start position:0% very much thank you Edwin we probably have<00:06:28.080> time<00:06:28.240> for<00:06:28.520> one<00:06:28.759> to<00:06:29.000> two<00:06:29.240> questions<00:06:29.840> right 00:06:30.029 --> 00:06:30.039 align:start position:0% have time for one to two questions right 00:06:30.039 --> 00:06:33.070 align:start position:0% have time for one to two questions right now<00:06:31.039> anyone<00:06:31.919> with<00:06:32.120> any<00:06:32.319> question<00:06:32.720> this<00:06:32.840> is 00:06:33.070 --> 00:06:33.080 align:start position:0% now anyone with any question this is 00:06:33.080 --> 00:06:34.110 align:start position:0% now anyone with any question this is fascinating 00:06:34.110 --> 00:06:34.120 align:start position:0% fascinating 00:06:34.120 --> 00:06:38.150 align:start position:0% fascinating sharing<00:06:35.120> any<00:06:35.440> audience<00:06:36.360> one<00:06:36.599> gentleman<00:06:37.160> over 00:06:38.150 --> 00:06:38.160 align:start position:0% sharing any audience one gentleman over 00:06:38.160 --> 00:06:42.589 align:start position:0% sharing any audience one gentleman over there<00:06:39.160> okay<00:06:39.520> let's<00:06:40.520> let's<00:06:40.720> try<00:06:41.039> this<00:06:41.479> please 00:06:42.589 --> 00:06:42.599 align:start position:0% there okay let's let's try this please 00:06:42.599 --> 00:06:44.309 align:start position:0% there okay let's let's try this please catch 00:06:44.309 --> 00:06:44.319 align:start position:0% catch 00:06:44.319 --> 00:06:46.550 align:start position:0% catch uhoh<00:06:45.319> this<00:06:45.400> is<00:06:45.599> the<00:06:45.680> most<00:06:45.840> entertaining<00:06:46.319> part 00:06:46.550 --> 00:06:46.560 align:start position:0% uhoh this is the most entertaining part 00:06:46.560 --> 00:06:49.629 align:start position:0% uhoh this is the most entertaining part he<00:06:46.720> watching<00:06:47.000> I<00:06:47.360> know<00:06:48.360> hi<00:06:48.680> um<00:06:49.240> you<00:06:49.400> were 00:06:49.629 --> 00:06:49.639 align:start position:0% he watching I know hi um you were 00:06:49.639 --> 00:06:51.670 align:start position:0% he watching I know hi um you were mentioning<00:06:50.280> like<00:06:50.919> uh<00:06:51.160> like<00:06:51.360> business 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align:start position:0% what's your road map with pay or USD what<00:07:00.599> where<00:07:00.879> direct<00:07:01.160> which<00:07:01.360> direction<00:07:01.800> you 00:07:02.790 --> 00:07:02.800 align:start position:0% what where direct which direction you 00:07:02.800 --> 00:07:06.189 align:start position:0% what where direct which direction you see<00:07:03.199> or<00:07:04.080> what<00:07:04.319> you<00:07:04.879> working<00:07:05.240> on<00:07:05.560> to<00:07:05.879> to<00:07:06.000> help 00:07:06.189 --> 00:07:06.199 align:start position:0% see or what you working on to to help 00:07:06.199 --> 00:07:07.869 align:start position:0% see or what you working on to to help for<00:07:06.400> that<00:07:06.639> yeah<00:07:06.800> so<00:07:06.919> we're<00:07:07.080> working<00:07:07.560> with<00:07:07.720> the 00:07:07.869 --> 00:07:07.879 align:start position:0% for that yeah so we're working with the 00:07:07.879 --> 00:07:11.309 align:start position:0% for that yeah so we're working with the various<00:07:08.240> protocols<00:07:08.840> including<00:07:09.800> um<00:07:10.520> uh<00:07:11.000> the 00:07:11.309 --> 00:07:11.319 align:start position:0% various protocols including um uh the 00:07:11.319 --> 00:07:13.110 align:start position:0% various protocols including um uh the folks<00:07:11.759> that<00:07:12.160> uh<00:07:12.400> are<00:07:12.599> are<00:07:12.720> part<00:07:12.879> of<00:07:13.000> the 00:07:13.110 --> 00:07:13.120 align:start position:0% folks that uh are are part of the 00:07:13.120 --> 00:07:16.629 align:start position:0% folks that uh are are part of the ecosystem<00:07:14.000> to<00:07:14.680> incorporate<00:07:15.680> more<00:07:16.000> of<00:07:16.240> the 00:07:16.629 --> 00:07:16.639 align:start position:0% ecosystem to incorporate more of the 00:07:16.639 --> 00:07:19.150 align:start position:0% ecosystem to incorporate more of the Privacy<00:07:17.120> preserving<00:07:17.720> Technologies<00:07:18.520> into<00:07:19.000> the 00:07:19.150 --> 00:07:19.160 align:start position:0% Privacy preserving Technologies into the 00:07:19.160 --> 00:07:20.830 align:start position:0% Privacy preserving Technologies into the substrate<00:07:19.759> of<00:07:19.960> both<00:07:20.120> the<00:07:20.240> core<00:07:20.560> and<00:07:20.720> the 00:07:20.830 --> 00:07:20.840 align:start position:0% substrate of both the core and the 00:07:20.840 --> 00:07:22.309 align:start position:0% substrate of both the core and the application<00:07:21.319> layer<00:07:21.639> of<00:07:21.759> what<00:07:21.879> we're<00:07:22.039> doing 00:07:22.309 --> 00:07:22.319 align:start position:0% application layer of what we're doing 00:07:22.319 --> 00:07:24.749 align:start position:0% application layer of what we're doing one<00:07:22.560> example<00:07:22.919> of<00:07:23.120> that<00:07:23.960> um<00:07:24.240> I<00:07:24.319> know<00:07:24.479> this<00:07:24.560> is<00:07:24.680> an 00:07:24.749 --> 00:07:24.759 align:start position:0% one example of that um I know this is an 00:07:24.759 --> 00:07:26.270 align:start position:0% one example of that um I know this is an ethereum<00:07:25.120> conference<00:07:25.479> one<00:07:25.680> example<00:07:26.000> of<00:07:26.160> that 00:07:26.270 --> 00:07:26.280 align:start position:0% ethereum conference one example of that 00:07:26.280 --> 00:07:28.950 align:start position:0% ethereum conference one example of that is<00:07:26.400> that<00:07:26.560> salana<00:07:27.080> has<00:07:27.240> recently<00:07:27.960> implemented 00:07:28.950 --> 00:07:28.960 align:start position:0% is that salana has recently implemented 00:07:28.960 --> 00:07:31.550 align:start position:0% is that salana has recently implemented a<00:07:29.520> confidential<00:07:29.879> transfers<00:07:30.440> token<00:07:30.759> extension 00:07:31.550 --> 00:07:31.560 align:start position:0% a confidential transfers token extension 00:07:31.560 --> 00:07:33.670 align:start position:0% a confidential transfers token extension which<00:07:31.759> allows<00:07:32.120> for<00:07:32.440> amounts<00:07:32.800> to<00:07:32.919> be<00:07:33.039> masked<00:07:33.479> on 00:07:33.670 --> 00:07:33.680 align:start position:0% which allows for amounts to be masked on 00:07:33.680 --> 00:07:35.749 align:start position:0% which allows for amounts to be masked on chain<00:07:34.520> and<00:07:34.720> that<00:07:34.960> is<00:07:35.199> actually<00:07:35.520> really 00:07:35.749 --> 00:07:35.759 align:start position:0% chain and that is actually really 00:07:35.759 --> 00:07:37.070 align:start position:0% chain and that is actually really important<00:07:36.280> because<00:07:36.560> that<00:07:36.680> means<00:07:36.960> that 00:07:37.070 --> 00:07:37.080 align:start position:0% important because that means that 00:07:37.080 --> 00:07:38.150 align:start position:0% important because that means that although<00:07:37.360> you<00:07:37.479> can<00:07:37.639> still<00:07:37.879> have<00:07:38.000> the 00:07:38.150 --> 00:07:38.160 align:start position:0% although you can still have the 00:07:38.160 --> 00:07:39.869 align:start position:0% although you can still have the transparency<00:07:38.800> of<00:07:38.919> seeing<00:07:39.199> that<00:07:39.400> transactions 00:07:39.869 --> 00:07:39.879 align:start position:0% transparency of seeing that transactions 00:07:39.879 --> 00:07:42.189 align:start position:0% transparency of seeing that transactions are<00:07:40.080> occurring<00:07:40.919> things<00:07:41.199> like<00:07:41.440> amounts<00:07:41.919> and 00:07:42.189 --> 00:07:42.199 align:start position:0% are occurring things like amounts and 00:07:42.199 --> 00:07:44.070 align:start position:0% are occurring things like amounts and and<00:07:42.319> certain<00:07:42.639> other<00:07:42.879> details<00:07:43.440> are<00:07:43.639> encrypted 00:07:44.070 --> 00:07:44.080 align:start position:0% and certain other details are encrypted 00:07:44.080 --> 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these uh protocols for payments 00:08:00.749 --> 00:08:00.759 align:start position:0% 00:08:00.759 --> 00:08:09.149 align:start position:0% great<00:08:01.159> one<00:08:01.800> last 00:08:09.149 --> 00:08:09.159 align:start position:0% 00:08:09.159 --> 00:08:11.990 align:start position:0% question<00:08:10.159> one<00:08:10.599> last 00:08:11.990 --> 00:08:12.000 align:start position:0% question one last 00:08:12.000 --> 00:08:16.149 align:start position:0% question one last question<00:08:13.000> anyone<00:08:13.520> in<00:08:13.680> the<00:08:13.840> audience<00:08:14.759> one<00:08:15.039> over 00:08:16.149 --> 00:08:16.159 align:start position:0% question anyone in the audience one over 00:08:16.159 --> 00:08:18.629 align:start position:0% question anyone in the audience one over here<00:08:17.159> I<00:08:17.240> was<00:08:17.400> hoping<00:08:17.680> to<00:08:18.080> have<00:08:18.199> to<00:08:18.319> throw<00:08:18.520> the 00:08:18.629 --> 00:08:18.639 align:start position:0% here I was hoping to have to throw the 00:08:18.639 --> 00:08:21.390 align:start position:0% here I was hoping to have to throw the box<00:08:18.919> like<00:08:19.080> into<00:08:19.280> the<00:08:19.720> back<00:08:20.720> yeah<00:08:20.960> no<00:08:21.080> one 00:08:21.390 --> 00:08:21.400 align:start position:0% box like into the back yeah no one 00:08:21.400 --> 00:08:24.510 align:start position:0% box like into the back yeah no one raised<00:08:21.759> their<00:08:21.919> hand<00:08:22.319> all<00:08:22.479> right<00:08:23.080> um<00:08:23.879> so<00:08:24.159> just 00:08:24.510 --> 00:08:24.520 align:start position:0% raised their hand all right um so just 00:08:24.520 --> 00:08:27.270 align:start position:0% raised their hand all right um so just um<00:08:24.680> you<00:08:24.800> mentioned<00:08:25.560> sap<00:08:26.560> um<00:08:26.720> earlier<00:08:27.199> I 00:08:27.270 --> 00:08:27.280 align:start position:0% um you mentioned sap um earlier I 00:08:27.280 --> 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sap<00:08:34.360> uh<00:08:34.680> announced<00:08:35.560> uh 00:08:35.750 --> 00:08:35.760 align:start position:0% interesting yeah so sap uh announced uh 00:08:35.760 --> 00:08:37.469 align:start position:0% interesting yeah so sap uh announced uh a<00:08:35.919> couple<00:08:36.159> of<00:08:36.360> weeks<00:08:36.680> ago<00:08:37.000> maybe<00:08:37.200> about<00:08:37.360> a 00:08:37.469 --> 00:08:37.479 align:start position:0% a couple of weeks ago maybe about a 00:08:37.479 --> 00:08:40.630 align:start position:0% a couple of weeks ago maybe about a month<00:08:37.760> ago<00:08:38.279> that<00:08:38.760> uh<00:08:38.919> PUSD<00:08:39.719> is<00:08:39.919> now<00:08:40.279> a 00:08:40.630 --> 00:08:40.640 align:start position:0% month ago that uh PUSD is now a 00:08:40.640 --> 00:08:43.110 align:start position:0% month ago that uh PUSD is now a invoiceable<00:08:41.360> currency<00:08:41.919> in<00:08:42.159> their<00:08:42.599> uh<00:08:42.719> digital 00:08:43.110 --> 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today can without 00:08:50.480 --> 00:08:53.230 align:start position:0% using sap zrp system today can without changing<00:08:50.920> their<00:08:51.160> back<00:08:51.360> end<00:08:52.000> start<00:08:52.279> to<00:08:52.800> invoice 00:08:53.230 --> 00:08:53.240 align:start position:0% changing their back end start to invoice 00:08:53.240 --> 00:08:56.630 align:start position:0% changing their back end start to invoice their<00:08:53.519> customers<00:08:54.480> uh<00:08:54.600> with<00:08:55.080> PUSD<00:08:56.080> and<00:08:56.240> collect 00:08:56.630 --> 00:08:56.640 align:start position:0% their customers uh with PUSD and collect 00:08:56.640 --> 00:08:59.790 align:start position:0% their customers uh with PUSD and collect that<00:08:56.760> in<00:08:57.040> through<00:08:58.040> um<00:08:58.560> us<00:08:58.800> or<00:08:58.959> coinbase<00:08:59.560> or 00:08:59.790 --> 00:08:59.800 align:start position:0% that in through um us or coinbase or 00:08:59.800 --> 00:09:02.829 align:start position:0% that in through um us or coinbase or other<00:09:00.399> uh<00:09:00.800> interactions<00:09:01.360> that<00:09:01.519> they<00:09:01.680> may<00:09:01.920> be 00:09:02.829 --> 00:09:02.839 align:start position:0% other uh interactions that they may be 00:09:02.839 --> 00:09:05.230 align:start position:0% other uh interactions that they may be uh<00:09:03.160> connected<00:09:03.519> to<00:09:03.800> now<00:09:04.519> what's<00:09:04.760> really 00:09:05.230 --> 00:09:05.240 align:start position:0% uh connected to now what's really 00:09:05.240 --> 00:09:06.870 align:start position:0% uh connected to now what's really interesting<00:09:05.640> about<00:09:06.000> that<00:09:06.200> is<00:09:06.480> that<00:09:06.680> you<00:09:06.760> know 00:09:06.870 --> 00:09:06.880 align:start position:0% interesting about that is that you know 00:09:06.880 --> 00:09:08.269 align:start position:0% interesting about that is that you know when<00:09:07.000> we<00:09:07.160> talk<00:09:07.399> about<00:09:07.600> being<00:09:07.800> able<00:09:07.959> to<00:09:08.079> reach 00:09:08.269 --> 00:09:08.279 align:start position:0% when we talk about being able to reach 00:09:08.279 --> 00:09:11.509 align:start position:0% when we talk about being able to reach the<00:09:08.399> next<00:09:08.600> billion<00:09:08.959> or<00:09:09.120> two<00:09:09.680> users<00:09:10.680> um<00:09:11.160> habits 00:09:11.509 --> 00:09:11.519 align:start position:0% the next billion or two users um habits 00:09:11.519 --> 00:09:13.310 align:start position:0% the next billion or two users um habits die<00:09:11.839> hard<00:09:12.240> and<00:09:12.360> that's<00:09:12.600> especially<00:09:13.000> true<00:09:13.200> in 00:09:13.310 --> 00:09:13.320 align:start position:0% die hard and that's especially true in 00:09:13.320 --> 00:09:15.230 align:start position:0% die hard and that's especially true in large<00:09:13.600> Enterprise<00:09:14.200> and<00:09:14.320> so<00:09:14.560> the<00:09:14.680> more<00:09:14.959> that<00:09:15.079> we 00:09:15.230 --> 00:09:15.240 align:start position:0% large Enterprise and so the more that we 00:09:15.240 --> 00:09:17.389 align:start position:0% large Enterprise and so the more that we can<00:09:15.480> plug<00:09:15.760> into<00:09:16.240> existing<00:09:16.760> systems<00:09:17.200> and 00:09:17.389 --> 00:09:17.399 align:start position:0% can plug into existing systems and 00:09:17.399 --> 00:09:19.750 align:start position:0% can plug into existing systems and existing<00:09:17.839> ways<00:09:18.240> that<00:09:18.560> CFOs<00:09:19.200> and<00:09:19.440> corporate 00:09:19.750 --> 00:09:19.760 align:start position:0% existing ways that CFOs and corporate 00:09:19.760 --> 00:09:21.590 align:start position:0% existing ways that CFOs and corporate treasuries<00:09:20.240> and<00:09:20.440> accountants<00:09:21.079> are<00:09:21.240> working 00:09:21.590 --> 00:09:21.600 align:start position:0% treasuries and accountants are working 00:09:21.600 --> 00:09:23.509 align:start position:0% treasuries and accountants are working today<00:09:22.240> the<00:09:22.360> more<00:09:22.600> that<00:09:22.720> we<00:09:22.839> can<00:09:23.000> get<00:09:23.120> that<00:09:23.279> in 00:09:23.509 --> 00:09:23.519 align:start position:0% today the more that we can get that in 00:09:23.519 --> 00:09:26.230 align:start position:0% today the more that we can get that in there<00:09:23.720> and<00:09:24.079> as<00:09:24.160> an<00:09:24.320> example<00:09:25.160> uh<00:09:25.320> PayPal<00:09:25.920> is<00:09:26.040> now 00:09:26.230 --> 00:09:26.240 align:start position:0% there and as an example uh PayPal is now 00:09:26.240 --> 00:09:28.069 align:start position:0% there and as an example uh PayPal is now starting<00:09:26.519> to<00:09:26.680> pay<00:09:27.000> its<00:09:27.279> invoices<00:09:27.880> to 00:09:28.069 --> 00:09:28.079 align:start position:0% starting to pay its invoices to 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a<00:09:41.279> blue 00:09:42.550 --> 00:09:42.560 align:start position:0% one more uh the gentleman a blue 00:09:42.560 --> 00:09:44.910 align:start position:0% one more uh the gentleman a blue shirt<00:09:43.560> last<00:09:43.800> one<00:09:44.040> last<00:09:44.240> one<00:09:44.480> it's<00:09:44.640> going<00:09:44.720> to<00:09:44.839> be 00:09:44.910 --> 00:09:44.920 align:start position:0% shirt last one last one it's going to be 00:09:44.920 --> 00:09:49.790 align:start position:0% shirt last one last one it's going to be a<00:09:45.040> quick<00:09:45.240> one<00:09:46.160> um<00:09:46.519> where<00:09:46.800> are<00:09:47.240> our 00:09:49.790 --> 00:09:49.800 align:start position:0% a quick one um where are our 00:09:49.800 --> 00:09:53.310 align:start position:0% a quick one um where are our box<00:09:50.800> it's<00:09:50.959> over 00:09:53.310 --> 00:09:53.320 align:start position:0% 00:09:53.320 --> 00:09:57.110 align:start position:0% there<00:09:54.320> yay<00:09:55.200> thank<00:09:55.360> you<00:09:55.760> if<00:09:55.880> you<00:09:56.040> can<00:09:56.519> rate<00:09:56.920> from 00:09:57.110 --> 00:09:57.120 align:start position:0% there yay thank you if you can rate from 00:09:57.120 --> 00:10:00.949 align:start position:0% there yay thank you if you can rate from 1<00:09:57.360> to<00:09:57.519> 10<00:09:57.839> how<00:09:58.079> decentralized<00:09:58.839> the<00:09:59.000> token 00:10:00.949 --> 00:10:00.959 align:start position:0% 1 to 10 how decentralized the token 00:10:00.959 --> 00:10:02.790 align:start position:0% 1 to 10 how decentralized the token well<00:10:01.120> as<00:10:01.200> a<00:10:01.399> reserve<00:10:01.800> back<00:10:02.120> token<00:10:02.480> where<00:10:02.680> there 00:10:02.790 --> 00:10:02.800 align:start position:0% well as a reserve back token where there 00:10:02.800 --> 00:10:05.269 align:start position:0% well as a reserve back token where there is<00:10:02.959> a<00:10:03.279> single<00:10:03.600> store<00:10:03.880> of<00:10:04.079> value<00:10:04.440> and<00:10:04.560> a<00:10:04.680> trust 00:10:05.269 --> 00:10:05.279 align:start position:0% is a single store of value and a trust 00:10:05.279 --> 00:10:06.910 align:start position:0% is a single store of value and a trust uh<00:10:05.360> and<00:10:05.480> as<00:10:05.560> I<00:10:05.680> said<00:10:05.800> a<00:10:05.920> trust<00:10:06.240> account<00:10:06.600> that's 00:10:06.910 --> 00:10:06.920 align:start position:0% uh and as I said a trust account that's 00:10:06.920 --> 00:10:08.710 align:start position:0% uh and as I said a trust account that's there<00:10:07.240> it's<00:10:07.519> you<00:10:07.640> know<00:10:07.839> that<00:10:08.040> aspect<00:10:08.320> of<00:10:08.440> it<00:10:08.560> is 00:10:08.710 --> 00:10:08.720 align:start position:0% there it's you know that aspect of it is 00:10:08.720 --> 00:10:12.230 align:start position:0% there it's you know that aspect of it is not<00:10:09.160> decentralized<00:10:10.160> obviously<00:10:11.040> the<00:10:11.720> uh<00:10:11.880> base 00:10:12.230 --> 00:10:12.240 align:start position:0% not decentralized obviously the uh base 00:10:12.240 --> 00:10:13.750 align:start position:0% not decentralized obviously the uh base level<00:10:12.560> protocols<00:10:13.120> which<00:10:13.279> allow<00:10:13.519> for<00:10:13.640> the 00:10:13.750 --> 00:10:13.760 align:start position:0% level protocols which allow for the 00:10:13.760 --> 00:10:16.430 align:start position:0% level protocols which allow for the movement<00:10:14.040> on<00:10:14.240> chain<00:10:14.920> are<00:10:15.519> you<00:10:15.640> can<00:10:15.800> move<00:10:16.079> py 00:10:16.430 --> 00:10:16.440 align:start position:0% movement on chain are you can move py 00:10:16.440 --> 00:10:18.710 align:start position:0% movement on chain are you can move py USD<00:10:17.040> into<00:10:17.680> you<00:10:17.800> know<00:10:18.040> your<00:10:18.160> own<00:10:18.399> personal 00:10:18.710 --> 00:10:18.720 align:start position:0% USD into you know your own personal 00:10:18.720 --> 00:10:21.310 align:start position:0% USD into you know your own personal wallets<00:10:19.160> you<00:10:19.320> can<00:10:19.959> uh<00:10:20.079> use<00:10:20.320> them<00:10:20.440> in<00:10:20.600> defi<00:10:21.120> so 00:10:21.310 --> 00:10:21.320 align:start position:0% wallets you can uh use them in defi so 00:10:21.320 --> 00:10:23.910 align:start position:0% wallets you can uh use them in defi so on<00:10:21.519> that<00:10:22.120> standpoint<00:10:23.120> um<00:10:23.560> there<00:10:23.680> is 00:10:23.910 --> 00:10:23.920 align:start position:0% on that standpoint um there is 00:10:23.920 --> 00:10:25.430 align:start position:0% on that standpoint um there is decentralization<00:10:24.800> there<00:10:25.000> but<00:10:25.120> when<00:10:25.200> you<00:10:25.320> get 00:10:25.430 --> 00:10:25.440 align:start position:0% decentralization there but when you get 00:10:25.440 --> 00:10:28.310 align:start position:0% decentralization there but when you get a<00:10:25.640> reserve<00:10:26.040> back<00:10:26.279> stable<00:10:26.680> coin<00:10:27.680> um<00:10:28.040> there's 00:10:28.310 --> 00:10:28.320 align:start position:0% a reserve back stable coin um there's 00:10:28.320 --> 00:10:29.670 align:start position:0% a reserve back stable coin um there's always<00:10:28.600> some<00:10:29.079> comp<00:10:29.320> component<00:10:29.560> of 00:10:29.670 --> 00:10:29.680 align:start position:0% always some comp component of 00:10:29.680 --> 00:10:32.269 align:start position:0% always some comp component of centralization<00:10:30.320> to<00:10:30.560> that<00:10:31.160> thank<00:10:31.320> you<00:10:32.120> thank 00:10:32.269 --> 00:10:32.279 align:start position:0% centralization to that thank you thank 00:10:32.279 --> 00:10:34.069 align:start position:0% centralization to that thank you thank you<00:10:32.440> and<00:10:32.560> that<00:10:32.720> a<00:10:32.880> round<00:10:33.079> of<00:10:33.279> applause<00:10:33.680> for 00:10:34.069 --> 00:10:34.079 align:start position:0% you and that a round of applause for 00:10:34.079 --> 00:10:37.079 align:start position:0% you and that a round of applause for Edwin