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 --> 00:00:12.709 align:start position:0% [Music] 00:00:12.709 --> 00:00:12.719 align:start position:0% 00:00:12.719 --> 00:00:15.390 align:start position:0% perfect<00:00:13.200> oh<00:00:13.599> they're<00:00:13.920> up<00:00:14.920> thank<00:00:15.040> you<00:00:15.200> very 00:00:15.390 --> 00:00:15.400 align:start position:0% perfect oh they're up thank you very 00:00:15.400 --> 00:00:18.189 align:start position:0% perfect oh they're up thank you very much<00:00:16.400> um<00:00:16.880> so<00:00:17.240> today<00:00:17.520> on<00:00:17.640> the<00:00:17.800> last<00:00:17.960> day<00:00:18.080> of 00:00:18.189 --> 00:00:18.199 align:start position:0% much um so today on the last day of 00:00:18.199 --> 00:00:19.630 align:start position:0% much um so today on the last day of Defcon<00:00:18.640> I'm<00:00:18.760> going<00:00:18.880> to<00:00:19.080> talk<00:00:19.320> about 00:00:19.630 --> 00:00:19.640 align:start position:0% Defcon I'm going to talk about 00:00:19.640 --> 00:00:22.109 align:start position:0% Defcon I'm going to talk about sovereignist<00:00:20.199> versus<00:00:20.640> globalists<00:00:21.640> this<00:00:21.800> is 00:00:22.109 --> 00:00:22.119 align:start position:0% sovereignist versus globalists this is 00:00:22.119 --> 00:00:26.230 align:start position:0% sovereignist versus globalists this is very<00:00:22.519> much<00:00:23.560> a<00:00:24.560> talk<00:00:25.119> that<00:00:25.279> should<00:00:25.800> get<00:00:25.960> you<00:00:26.080> to 00:00:26.230 --> 00:00:26.240 align:start position:0% very much a talk that should get you to 00:00:26.240 --> 00:00:28.950 align:start position:0% very much a talk that should get you to think<00:00:26.480> about<00:00:26.679> the<00:00:26.840> ethos<00:00:27.760> that<00:00:27.880> we<00:00:28.000> all<00:00:28.160> follow 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all 00:00:36.480 --> 00:00:38.229 align:start position:0% should be optimizing for so first of all the<00:00:36.600> goal<00:00:36.800> of<00:00:36.920> the<00:00:37.079> space<00:00:37.320> is<00:00:37.399> to<00:00:37.520> be<00:00:37.640> Sovereign 00:00:38.229 --> 00:00:38.239 align:start position:0% the goal of the space is to be Sovereign 00:00:38.239 --> 00:00:40.670 align:start position:0% the goal of the space is to be Sovereign it<00:00:38.360> is<00:00:38.559> to<00:00:38.760> be<00:00:39.399> able<00:00:39.719> to<00:00:40.000> control<00:00:40.320> your<00:00:40.440> own 00:00:40.670 --> 00:00:40.680 align:start position:0% it is to be able to control your own 00:00:40.680 --> 00:00:43.110 align:start position:0% it is to be able to control your own assets<00:00:41.039> to<00:00:41.239> freely<00:00:41.640> move<00:00:41.920> around<00:00:42.399> to<00:00:42.960> have 00:00:43.110 --> 00:00:43.120 align:start position:0% assets to freely move around to have 00:00:43.120 --> 00:00:44.990 align:start position:0% assets to freely move around to have sensorship<00:00:43.640> resistant<00:00:44.039> assets<00:00:44.360> Cesar 00:00:44.990 --> 00:00:45.000 align:start position:0% sensorship resistant assets Cesar 00:00:45.000 --> 00:00:46.709 align:start position:0% sensorship resistant assets Cesar resistant<00:00:45.399> assets<00:00:46.199> the<00:00:46.480> this<00:00:46.559> is 00:00:46.709 --> 00:00:46.719 align:start position:0% resistant assets the this is 00:00:46.719 --> 00:00:48.069 align:start position:0% resistant assets the this is fundamentally<00:00:47.280> the<00:00:47.360> goal<00:00:47.520> of<00:00:47.640> the<00:00:47.760> space<00:00:47.960> is 00:00:48.069 --> 00:00:48.079 align:start position:0% fundamentally the goal of the space is 00:00:48.079 --> 00:00:50.670 align:start position:0% fundamentally the goal of the space is to<00:00:48.199> be<00:00:48.320> Sovereign<00:00:49.320> um<00:00:49.879> and<00:00:50.079> with<00:00:50.239> that<00:00:50.440> I<00:00:50.520> would 00:00:50.670 --> 00:00:50.680 align:start position:0% to be Sovereign um and with that I would 00:00:50.680 --> 00:00:52.229 align:start position:0% to be Sovereign um and with that I would start<00:00:51.039> that<00:00:51.199> a<00:00:51.320> single<00:00:51.600> decentralized 00:00:52.229 --> 00:00:52.239 align:start position:0% start that a single decentralized 00:00:52.239 --> 00:00:54.750 align:start position:0% start that a single decentralized network<00:00:52.600> is<00:00:52.719> still<00:00:53.239> centralized<00:00:54.239> um<00:00:54.640> and 00:00:54.750 --> 00:00:54.760 align:start position:0% network is still centralized um and 00:00:54.760 --> 00:00:57.029 align:start position:0% network is still centralized um and we'll<00:00:54.920> do<00:00:55.239> nice<00:00:55.480> Q&A<00:00:55.879> in<00:00:56.000> a<00:00:56.160> sec<00:00:56.680> on<00:00:56.840> whether 00:00:57.029 --> 00:00:57.039 align:start position:0% we'll do nice Q&A in a sec on whether 00:00:57.039 --> 00:00:59.630 align:start position:0% we'll do nice Q&A in a sec on whether you<00:00:57.199> agree<00:00:57.480> with<00:00:57.680> this<00:00:58.239> but<00:00:58.680> fundamentally<00:00:59.480> if 00:00:59.630 --> 00:00:59.640 align:start position:0% you agree with this but fundamentally if 00:00:59.640 --> 00:01:02.029 align:start position:0% you agree with this but fundamentally if there's<00:01:00.120> something<00:01:00.480> a<00:01:00.600> single<00:01:00.920> of<00:01:01.160> something 00:01:02.029 --> 00:01:02.039 align:start position:0% there's something a single of something 00:01:02.039 --> 00:01:04.030 align:start position:0% there's something a single of something you<00:01:02.239> cannot<00:01:02.559> leave<00:01:03.120> right<00:01:03.320> like<00:01:03.519> a<00:01:03.640> single<00:01:03.920> of 00:01:04.030 --> 00:01:04.040 align:start position:0% you cannot leave right like a single of 00:01:04.040 --> 00:01:05.550 align:start position:0% you cannot leave right like a single of something<00:01:04.320> can<00:01:04.479> always<00:01:04.680> become<00:01:04.960> compromised 00:01:05.550 --> 00:01:05.560 align:start position:0% something can always become compromised 00:01:05.560 --> 00:01:07.630 align:start position:0% something can always become compromised so<00:01:05.720> a<00:01:05.840> single<00:01:06.360> decent<00:01:07.000> network<00:01:07.320> is<00:01:07.439> still 00:01:07.630 --> 00:01:07.640 align:start position:0% so a single decent network is still 00:01:07.640 --> 00:01:09.149 align:start position:0% so a single decent network is still actually<00:01:07.840> very 00:01:09.149 --> 00:01:09.159 align:start position:0% actually very 00:01:09.159 --> 00:01:11.310 align:start position:0% actually very centralized<00:01:10.159> um<00:01:10.640> from<00:01:10.799> a<00:01:10.960> physical 00:01:11.310 --> 00:01:11.320 align:start position:0% centralized um from a physical 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align:start position:0% when you think a little bit about this problem<00:01:17.560> like<00:01:17.720> neither<00:01:18.000> ethereum<00:01:18.560> or<00:01:18.920> Bitcoin 00:01:19.350 --> 00:01:19.360 align:start position:0% problem like neither ethereum or Bitcoin 00:01:19.360 --> 00:01:21.270 align:start position:0% problem like neither ethereum or Bitcoin or<00:01:19.600> any<00:01:19.759> other<00:01:20.040> Global<00:01:20.360> consensus<00:01:20.880> is<00:01:21.079> really 00:01:21.270 --> 00:01:21.280 align:start position:0% or any other Global consensus is really 00:01:21.280 --> 00:01:24.030 align:start position:0% or any other Global consensus is really going<00:01:21.439> to<00:01:21.600> be<00:01:22.159> surviving<00:01:22.720> World<00:01:23.000> War<00:01:23.159> I<00:01:23.799> that 00:01:24.030 --> 00:01:24.040 align:start position:0% going to be surviving World War I that 00:01:24.040 --> 00:01:25.429 align:start position:0% going to be surviving World War I that it<00:01:24.200> just<00:01:24.320> seems<00:01:24.640> unlikely<00:01:25.079> that<00:01:25.200> we're<00:01:25.320> going 00:01:25.429 --> 00:01:25.439 align:start position:0% it just seems unlikely that we're going 00:01:25.439 --> 00:01:27.190 align:start position:0% it just seems unlikely that we're going to<00:01:25.560> spend<00:01:25.759> a<00:01:25.880> b<00:01:26.240> bunch<00:01:26.479> of<00:01:26.640> bandwidth<00:01:27.040> on 00:01:27.190 --> 00:01:27.200 align:start position:0% to spend a b bunch of bandwidth on 00:01:27.200 --> 00:01:28.670 align:start position:0% to spend a b bunch of bandwidth on global<00:01:27.479> consensus<00:01:27.920> for<00:01:28.079> magic<00:01:28.360> internet 00:01:28.670 --> 00:01:28.680 align:start position:0% global consensus for magic internet 00:01:28.680 --> 00:01:30.950 align:start position:0% global consensus for magic internet money<00:01:29.439> uh<00:01:29.520> when<00:01:29.680> all<00:01:30.000> Global<00:01:30.280> fiber<00:01:30.600> has<00:01:30.759> been 00:01:30.950 --> 00:01:30.960 align:start position:0% money uh when all Global fiber has been 00:01:30.960 --> 00:01:32.990 align:start position:0% money uh when all Global fiber has been cut<00:01:31.640> uh<00:01:31.759> from<00:01:31.880> a<00:01:32.000> social<00:01:32.360> perspective<00:01:32.720> it<00:01:32.840> can 00:01:32.990 --> 00:01:33.000 align:start position:0% cut uh from a social perspective it can 00:01:33.000 --> 00:01:35.630 align:start position:0% cut uh from a social perspective it can be<00:01:33.240> captured<00:01:34.240> um<00:01:34.600> and<00:01:34.840> so<00:01:35.040> as<00:01:35.119> a<00:01:35.280> result<00:01:35.520> we 00:01:35.630 --> 00:01:35.640 align:start position:0% be captured um and so as a result we 00:01:35.640 --> 00:01:36.789 align:start position:0% be captured um and so as a result we shouldn't<00:01:35.880> design<00:01:36.200> blockchains<00:01:36.600> like<00:01:36.759> a 00:01:36.789 --> 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align:start position:0% one world government is a good idea<00:01:43.600> yes<00:01:44.000> this<00:01:44.119> is<00:01:44.360> always<00:01:44.759> zero<00:01:45.399> and<00:01:45.560> so<00:01:46.439> no 00:01:46.590 --> 00:01:46.600 align:start position:0% idea yes this is always zero and so no 00:01:46.600 --> 00:01:48.749 align:start position:0% idea yes this is always zero and so no one<00:01:47.159> ever<00:01:47.600> seems<00:01:47.840> to<00:01:48.000> think<00:01:48.240> that<00:01:48.399> a<00:01:48.520> single 00:01:48.749 --> 00:01:48.759 align:start position:0% one ever seems to think that a single 00:01:48.759 --> 00:01:49.990 align:start position:0% one ever seems to think that a single one<00:01:48.920> world<00:01:49.119> government<00:01:49.360> is<00:01:49.439> a<00:01:49.560> good<00:01:49.680> idea<00:01:49.920> and 00:01:49.990 --> 00:01:50.000 align:start position:0% one world government is a good idea and 00:01:50.000 --> 00:01:52.109 align:start position:0% one world government is a good idea and so<00:01:50.119> we<00:01:50.240> shouldn't<00:01:50.439> be<00:01:50.600> designing<00:01:51.000> our<00:01:51.280> systems 00:01:52.109 --> 00:01:52.119 align:start position:0% so we shouldn't be designing our systems 00:01:52.119 --> 00:01:53.910 align:start position:0% so we shouldn't be designing our systems sort<00:01:52.320> of<00:01:52.479> in<00:01:52.600> the<00:01:52.759> vein<00:01:53.040> of<00:01:53.240> there's<00:01:53.439> a<00:01:53.560> single 00:01:53.910 --> 00:01:53.920 align:start position:0% sort of in the vein of there's a single 00:01:53.920 --> 00:01:56.029 align:start position:0% sort of in the vein of there's a single Global<00:01:54.240> Security<00:01:54.640> model<00:01:54.880> to<00:01:55.000> rule<00:01:55.280> us 00:01:56.029 --> 00:01:56.039 align:start position:0% Global Security model to rule us 00:01:56.039 --> 00:01:58.630 align:start position:0% Global Security model to rule us all<00:01:57.039> um<00:01:57.320> because<00:01:57.560> fundamentally<00:01:58.280> different 00:01:58.630 --> 00:01:58.640 align:start position:0% all um because fundamentally different 00:01:58.640 --> 00:02:00.870 align:start position:0% all um because fundamentally different people<00:01:59.280> have<00:01:59.920> different<00:02:00.200> requirements<00:02:00.719> for 00:02:00.870 --> 00:02:00.880 align:start position:0% people have different requirements for 00:02:00.880 --> 00:02:03.550 align:start position:0% people have different requirements for the<00:02:01.039> security<00:02:01.479> models<00:02:02.479> um<00:02:02.799> so<00:02:03.119> my<00:02:03.280> parents 00:02:03.550 --> 00:02:03.560 align:start position:0% the security models um so my parents 00:02:03.560 --> 00:02:05.190 align:start position:0% the security models um so my parents live<00:02:03.719> in<00:02:03.840> Germany<00:02:04.399> they<00:02:04.520> trust<00:02:04.799> a<00:02:04.960> local 00:02:05.190 --> 00:02:05.200 align:start position:0% live in Germany they trust a local 00:02:05.200 --> 00:02:06.550 align:start position:0% live in Germany they trust a local government<00:02:05.600> they<00:02:05.719> want<00:02:05.960> something<00:02:06.320> that<00:02:06.439> the 00:02:06.550 --> 00:02:06.560 align:start position:0% government they want something that the 00:02:06.560 --> 00:02:08.550 align:start position:0% government they want something that the local<00:02:06.799> government<00:02:07.200> can<00:02:07.399> sort<00:02:07.560> of<00:02:07.640> interject 00:02:08.550 --> 00:02:08.560 align:start position:0% local government can sort of interject 00:02:08.560 --> 00:02:10.790 align:start position:0% local government can sort of interject and<00:02:08.800> revert<00:02:09.520> this<00:02:09.640> is<00:02:09.840> fundamentally<00:02:10.440> the 00:02:10.790 --> 00:02:10.800 align:start position:0% and revert this is fundamentally the 00:02:10.800 --> 00:02:12.750 align:start position:0% and revert this is fundamentally the trust<00:02:11.080> model<00:02:11.440> they<00:02:11.599> care<00:02:11.800> about<00:02:12.360> if<00:02:12.480> you<00:02:12.599> live 00:02:12.750 --> 00:02:12.760 align:start position:0% trust model they care about if you live 00:02:12.760 --> 00:02:16.309 align:start position:0% trust model they care about if you live in<00:02:12.879> Argentina<00:02:13.840> you<00:02:14.080> don't<00:02:15.080> um<00:02:15.519> You<00:02:15.879> probably 00:02:16.309 --> 00:02:16.319 align:start position:0% in Argentina you don't um You probably 00:02:16.319 --> 00:02:17.949 align:start position:0% in Argentina you don't um You probably much<00:02:16.480> more<00:02:16.720> prefer<00:02:17.040> Global<00:02:17.400> Security 00:02:17.949 --> 00:02:17.959 align:start position:0% much more prefer Global Security 00:02:17.959 --> 00:02:20.390 align:start position:0% much more prefer Global Security independent<00:02:18.599> instances<00:02:19.599> um<00:02:19.920> but<00:02:20.040> you<00:02:20.160> still 00:02:20.390 --> 00:02:20.400 align:start position:0% independent instances um but you still 00:02:20.400 --> 00:02:22.110 align:start position:0% independent instances um but you still want<00:02:20.519> to<00:02:20.680> like<00:02:20.800> if<00:02:20.879> you<00:02:21.000> travel<00:02:21.319> to<00:02:21.480> Germany 00:02:22.110 --> 00:02:22.120 align:start position:0% want to like if you travel to Germany 00:02:22.120 --> 00:02:23.869 align:start position:0% want to like if you travel to Germany you<00:02:22.280> still<00:02:22.440> want<00:02:22.560> to<00:02:22.680> be<00:02:22.760> able<00:02:22.920> to<00:02:23.280> roam<00:02:23.560> into 00:02:23.869 --> 00:02:23.879 align:start position:0% you still want to be able to roam into 00:02:23.879 --> 00:02:26.229 align:start position:0% you still want to be able to roam into the<00:02:24.000> local<00:02:24.280> security<00:02:24.720> zone<00:02:25.400> for<00:02:25.640> myself<00:02:26.120> I 00:02:26.229 --> 00:02:26.239 align:start position:0% the local security zone for myself I 00:02:26.239 --> 00:02:28.270 align:start position:0% the local security zone for myself I prefer<00:02:26.640> like<00:02:26.840> the<00:02:26.959> etherum<00:02:27.519> mean<00:02:27.720> it<00:02:27.920> over<00:02:28.160> my 00:02:28.270 --> 00:02:28.280 align:start position:0% prefer like the etherum mean it over my 00:02:28.280 --> 00:02:30.190 align:start position:0% prefer like the etherum mean it over my local<00:02:28.560> government<00:02:29.000> right<00:02:29.360> but<00:02:29.560> sort<00:02:29.720> of<00:02:30.000> like 00:02:30.190 --> 00:02:30.200 align:start position:0% local government right but sort of like 00:02:30.200 --> 00:02:31.670 align:start position:0% local government right but sort of like security<00:02:30.640> and<00:02:30.760> the<00:02:30.879> security<00:02:31.200> model<00:02:31.480> that<00:02:31.560> you 00:02:31.670 --> 00:02:31.680 align:start position:0% security and the security model that you 00:02:31.680 --> 00:02:33.309 align:start position:0% security and the security model that you care<00:02:31.879> about<00:02:32.080> is<00:02:32.160> a<00:02:32.319> fundamentally<00:02:32.920> personal 00:02:33.309 --> 00:02:33.319 align:start position:0% care about is a fundamentally personal 00:02:33.319 --> 00:02:35.910 align:start position:0% care about is a fundamentally personal choice<00:02:34.080> and<00:02:34.200> we<00:02:34.319> should<00:02:34.519> be<00:02:34.720> designing<00:02:35.640> these 00:02:35.910 --> 00:02:35.920 align:start position:0% choice and we should be designing these 00:02:35.920 --> 00:02:37.309 align:start position:0% choice and we should be designing these systems<00:02:36.319> to<00:02:36.480> work<00:02:36.640> for<00:02:36.800> everyone<00:02:37.080> in<00:02:37.200> the 00:02:37.309 --> 00:02:37.319 align:start position:0% systems to work for everyone in the 00:02:37.319 --> 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important<00:02:43.360> part<00:02:43.599> here<00:02:43.800> though<00:02:44.000> is<00:02:44.239> we<00:02:44.319> need<00:02:44.440> to 00:02:44.630 --> 00:02:44.640 align:start position:0% important part here though is we need to 00:02:44.640 --> 00:02:46.830 align:start position:0% important part here though is we need to comp<00:02:45.200> uh<00:02:45.319> maintain<00:02:45.680> composability<00:02:46.159> and<00:02:46.519> allow 00:02:46.830 --> 00:02:46.840 align:start position:0% comp uh maintain composability and allow 00:02:46.840 --> 00:02:49.710 align:start position:0% comp uh maintain composability and allow applications<00:02:47.280> to<00:02:47.440> roam<00:02:48.080> so<00:02:48.519> it's<00:02:48.720> not<00:02:48.920> a<00:02:49.200> vable 00:02:49.710 --> 00:02:49.720 align:start position:0% applications to roam so it's not a vable 00:02:49.720 --> 00:02:51.910 align:start position:0% applications to roam so it's not a vable a<00:02:49.879> viable<00:02:50.319> option<00:02:50.640> to<00:02:50.800> say<00:02:51.360> well<00:02:51.560> everyone 00:02:51.910 --> 00:02:51.920 align:start position:0% a viable option to say well everyone 00:02:51.920 --> 00:02:54.470 align:start position:0% a viable option to say well everyone install<00:02:52.519> like<00:02:52.879> the<00:02:53.040> next<00:02:53.280> 500<00:02:54.080> iPhone 00:02:54.470 --> 00:02:54.480 align:start position:0% install like the next 500 iPhone 00:02:54.480 --> 00:02:56.270 align:start position:0% install like the next 500 iPhone applications<00:02:55.400> in<00:02:55.519> order<00:02:55.760> to<00:02:55.959> like<00:02:56.080> be 00:02:56.270 --> 00:02:56.280 align:start position:0% applications in order to like be 00:02:56.280 --> 00:02:57.750 align:start position:0% applications in order to like be compatible<00:02:56.720> with<00:02:56.840> all<00:02:57.000> these<00:02:57.239> different 00:02:57.750 --> 00:02:57.760 align:start position:0% compatible with all these different 00:02:57.760 --> 00:02:59.949 align:start position:0% compatible with all these different security<00:02:58.159> environments<00:02:59.159> phones<00:02:59.440> in<00:02:59.560> the<00:02:59.840> real 00:02:59.949 --> 00:02:59.959 align:start position:0% security environments phones in the real 00:02:59.959 --> 00:03:01.430 align:start position:0% security environments phones in the real world<00:03:00.159> actually<00:03:00.319> did<00:03:00.480> this<00:03:00.640> really<00:03:00.840> well 00:03:01.430 --> 00:03:01.440 align:start position:0% world actually did this really well 00:03:01.440 --> 00:03:03.229 align:start position:0% world actually did this really well where<00:03:01.680> I<00:03:01.840> could<00:03:02.040> buy<00:03:02.200> a<00:03:02.280> phone<00:03:02.560> in<00:03:02.680> Switzerland 00:03:03.229 --> 00:03:03.239 align:start position:0% where I could buy a phone in Switzerland 00:03:03.239 --> 00:03:04.710 align:start position:0% where I could buy a phone in Switzerland it<00:03:03.360> still<00:03:03.599> works<00:03:03.920> here<00:03:04.080> it<00:03:04.200> still<00:03:04.360> works<00:03:04.599> in 00:03:04.710 --> 00:03:04.720 align:start position:0% it still works here it still works in 00:03:04.720 --> 00:03:06.350 align:start position:0% it still works here it still works in the<00:03:04.799> US<00:03:05.080> it<00:03:05.200> still<00:03:05.360> works<00:03:05.599> in<00:03:05.760> China<00:03:06.120> right 00:03:06.350 --> 00:03:06.360 align:start position:0% the US it still works in China right 00:03:06.360 --> 00:03:08.229 align:start position:0% the US it still works in China right like<00:03:06.760> I<00:03:06.879> can<00:03:07.040> use<00:03:07.239> the<00:03:07.400> same<00:03:07.799> fundamental 00:03:08.229 --> 00:03:08.239 align:start position:0% like I can use the same fundamental 00:03:08.239 --> 00:03:10.190 align:start position:0% like I can use the same fundamental interface<00:03:09.159> uh<00:03:09.239> to<00:03:09.400> interact<00:03:09.760> in<00:03:09.920> many 00:03:10.190 --> 00:03:10.200 align:start position:0% interface uh to interact in many 00:03:10.200 --> 00:03:12.589 align:start position:0% interface uh to interact in many different<00:03:10.799> uh<00:03:10.959> specific<00:03:11.480> security 00:03:12.589 --> 00:03:12.599 align:start position:0% different uh specific security 00:03:12.599 --> 00:03:15.390 align:start position:0% different uh specific security models<00:03:13.599> this<00:03:13.760> also<00:03:13.959> brings<00:03:14.200> me<00:03:14.360> to<00:03:14.720> why<00:03:15.280> we 00:03:15.390 --> 00:03:15.400 align:start position:0% models this also brings me to why we 00:03:15.400 --> 00:03:16.990 align:start position:0% models this also brings me to why we want<00:03:15.519> to<00:03:15.720> be<00:03:15.879> thinking<00:03:16.120> about<00:03:16.400> this<00:03:16.720> from<00:03:16.879> a 00:03:16.990 --> 00:03:17.000 align:start position:0% want to be thinking about this from a 00:03:17.000 --> 00:03:18.789 align:start position:0% want to be thinking about this from a scale-free<00:03:17.519> network<00:03:17.959> perspective<00:03:18.400> and<00:03:18.599> why 00:03:18.789 --> 00:03:18.799 align:start position:0% scale-free network perspective and why 00:03:18.799 --> 00:03:20.949 align:start position:0% scale-free network perspective and why this<00:03:18.879> is<00:03:19.040> the<00:03:19.200> only<00:03:19.519> true<00:03:19.840> scalable<00:03:20.440> way<00:03:20.599> to<00:03:20.760> do 00:03:20.949 --> 00:03:20.959 align:start position:0% this is the only true scalable way to do 00:03:20.959 --> 00:03:23.309 align:start position:0% this is the only true scalable way to do this<00:03:21.360> with<00:03:21.599> local<00:03:21.959> Sovereign<00:03:22.400> security 00:03:23.309 --> 00:03:23.319 align:start position:0% this with local Sovereign security 00:03:23.319 --> 00:03:25.949 align:start position:0% this with local Sovereign security because<00:03:24.000> fundamentally<00:03:24.840> State<00:03:25.159> should<00:03:25.440> only 00:03:25.949 --> 00:03:25.959 align:start position:0% because fundamentally State should only 00:03:25.959 --> 00:03:27.589 align:start position:0% because fundamentally State should only only<00:03:26.200> be<00:03:26.360> collocated<00:03:26.959> together<00:03:27.200> when<00:03:27.360> it's 00:03:27.589 --> 00:03:27.599 align:start position:0% only be collocated together when it's 00:03:27.599 --> 00:03:30.390 align:start position:0% only be collocated together when it's valuable<00:03:28.200> together<00:03:29.040> um<00:03:29.519> like<00:03:29.920> not<00:03:30.159> all 00:03:30.390 --> 00:03:30.400 align:start position:0% valuable together um like not all 00:03:30.400 --> 00:03:32.030 align:start position:0% valuable together um like not all Financial<00:03:30.840> transactions<00:03:31.400> in<00:03:31.519> the<00:03:31.599> world<00:03:31.840> need 00:03:32.030 --> 00:03:32.040 align:start position:0% Financial transactions in the world need 00:03:32.040 --> 00:03:34.390 align:start position:0% Financial transactions in the world need to<00:03:32.120> be<00:03:32.439> under<00:03:32.720> the<00:03:32.920> same<00:03:33.560> security<00:03:33.920> model<00:03:34.319> they 00:03:34.390 --> 00:03:34.400 align:start position:0% to be under the same security model they 00:03:34.400 --> 00:03:36.110 align:start position:0% to be under the same security model they should<00:03:34.560> be<00:03:34.680> under<00:03:34.920> different<00:03:35.200> ones<00:03:35.599> where<00:03:35.920> for 00:03:36.110 --> 00:03:36.120 align:start position:0% should be under different ones where for 00:03:36.120 --> 00:03:38.869 align:start position:0% should be under different ones where for example<00:03:36.599> we<00:03:36.840> like<00:03:37.319> physically<00:03:38.000> in<00:03:38.159> proximity 00:03:38.869 --> 00:03:38.879 align:start position:0% example we like physically in proximity 00:03:38.879 --> 00:03:41.110 align:start position:0% example we like physically in proximity so<00:03:39.120> all<00:03:39.319> Financial<00:03:39.760> transactions<00:03:40.280> in<00:03:40.439> Bangkok 00:03:41.110 --> 00:03:41.120 align:start position:0% so all Financial transactions in Bangkok 00:03:41.120 --> 00:03:42.550 align:start position:0% so all Financial transactions in Bangkok should<00:03:41.319> be<00:03:41.519> like<00:03:41.720> locally<00:03:42.080> settled<00:03:42.439> to 00:03:42.550 --> 00:03:42.560 align:start position:0% should be like locally settled to 00:03:42.560 --> 00:03:44.350 align:start position:0% should be like locally settled to Bangkok<00:03:43.159> and<00:03:43.319> this<00:03:43.400> is<00:03:43.560> also<00:03:43.799> the<00:03:44.040> strongest 00:03:44.350 --> 00:03:44.360 align:start position:0% Bangkok and this is also the strongest 00:03:44.360 --> 00:03:46.830 align:start position:0% Bangkok and this is also the strongest argument<00:03:45.040> for<00:03:45.599> why<00:03:46.000> this<00:03:46.120> will<00:03:46.400> always<00:03:46.680> be 00:03:46.830 --> 00:03:46.840 align:start position:0% argument for why this will always be 00:03:46.840 --> 00:03:49.670 align:start position:0% argument for why this will always be faster<00:03:47.280> than<00:03:48.120> Solana<00:03:48.760> like<00:03:48.879> Solana<00:03:49.319> can<00:03:49.439> never 00:03:49.670 --> 00:03:49.680 align:start position:0% faster than Solana like Solana can never 00:03:49.680 --> 00:03:51.830 align:start position:0% faster than Solana like Solana can never beat<00:03:49.920> us<00:03:50.159> here<00:03:50.680> because<00:03:51.159> like<00:03:51.319> they<00:03:51.480> cannot 00:03:51.830 --> 00:03:51.840 align:start position:0% beat us here because like they cannot 00:03:51.840 --> 00:03:54.030 align:start position:0% beat us here because like they cannot violate<00:03:52.200> the<00:03:52.280> laws<00:03:52.519> of<00:03:52.680> physics<00:03:53.439> around<00:03:53.840> speed 00:03:54.030 --> 00:03:54.040 align:start position:0% violate the laws of physics around speed 00:03:54.040 --> 00:03:55.910 align:start position:0% violate the laws of physics around speed of<00:03:54.239> light<00:03:54.560> so<00:03:55.040> like<00:03:55.159> if<00:03:55.239> we<00:03:55.400> do<00:03:55.599> local 00:03:55.910 --> 00:03:55.920 align:start position:0% of light so like if we do local 00:03:55.920 --> 00:03:57.789 align:start position:0% of light so like if we do local settlement<00:03:56.400> we<00:03:56.519> will<00:03:56.760> always<00:03:57.000> be<00:03:57.200> the<00:03:57.319> single 00:03:57.789 --> 00:03:57.799 align:start position:0% settlement we will always be the single 00:03:57.799 --> 00:04:00.910 align:start position:0% settlement we will always be the single possibly<00:03:58.319> fastest<00:03:58.840> thing<00:03:59.879> um<00:04:00.400> and<00:04:00.599> yeah<00:04:00.760> you 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align:start position:0% have the need for it because it's expensive<00:04:06.680> um<00:04:06.840> and<00:04:06.959> so<00:04:07.159> yeah<00:04:07.400> the<00:04:07.760> basic 00:04:08.229 --> 00:04:08.239 align:start position:0% expensive um and so yeah the basic 00:04:08.239 --> 00:04:09.910 align:start position:0% expensive um and so yeah the basic example<00:04:08.599> is<00:04:08.760> that<00:04:08.920> users<00:04:09.200> in<00:04:09.400> applications 00:04:09.910 --> 00:04:09.920 align:start position:0% example is that users in applications 00:04:09.920 --> 00:04:12.069 align:start position:0% example is that users in applications can<00:04:10.040> roam<00:04:10.360> between<00:04:10.680> instances<00:04:11.519> so<00:04:11.920> sometimes 00:04:12.069 --> 00:04:12.079 align:start position:0% can roam between instances so sometimes 00:04:12.079 --> 00:04:13.589 align:start position:0% can roam between instances so sometimes I<00:04:12.200> want<00:04:12.319> to<00:04:12.400> be<00:04:12.519> on<00:04:12.599> global<00:04:12.879> ethereum 00:04:13.589 --> 00:04:13.599 align:start position:0% I want to be on global ethereum 00:04:13.599 --> 00:04:15.429 align:start position:0% I want to be on global ethereum sometimes<00:04:13.799> I<00:04:13.959> want<00:04:14.040> to<00:04:14.159> be<00:04:14.239> on<00:04:14.360> local<00:04:14.640> Bangkok 00:04:15.429 --> 00:04:15.439 align:start position:0% sometimes I want to be on local Bangkok 00:04:15.439 --> 00:04:17.590 align:start position:0% sometimes I want to be on local Bangkok but<00:04:15.640> I<00:04:15.840> can<00:04:16.280> use<00:04:16.519> the<00:04:16.680> same<00:04:16.840> fundament 00:04:17.590 --> 00:04:17.600 align:start position:0% but I can use the same fundament 00:04:17.600 --> 00:04:18.949 align:start position:0% but I can use the same fundament interfaces<00:04:18.079> and<00:04:18.239> the<00:04:18.359> same<00:04:18.600> type<00:04:18.759> of 00:04:18.949 --> 00:04:18.959 align:start position:0% interfaces and the same type of 00:04:18.959 --> 00:04:21.030 align:start position:0% interfaces and the same type of applications<00:04:19.759> to<00:04:19.959> roam<00:04:20.320> across<00:04:20.639> all<00:04:20.840> these 00:04:21.030 --> 00:04:21.040 align:start position:0% applications to roam across all these 00:04:21.040 --> 00:04:22.469 align:start position:0% applications to roam across all these different<00:04:21.359> security 00:04:22.469 --> 00:04:22.479 align:start position:0% different security 00:04:22.479 --> 00:04:25.870 align:start position:0% different security models<00:04:23.479> um<00:04:23.880> and<00:04:24.040> this<00:04:24.199> leads<00:04:24.520> to<00:04:24.759> a<00:04:24.960> very<00:04:25.240> nice 00:04:25.870 --> 00:04:25.880 align:start position:0% models um and this leads to a very nice 00:04:25.880 --> 00:04:27.270 align:start position:0% models um and this leads to a very nice other<00:04:26.120> thing<00:04:26.280> is<00:04:26.520> that<00:04:26.680> everyone<00:04:27.000> becomes 00:04:27.270 --> 00:04:27.280 align:start position:0% other thing is that everyone becomes 00:04:27.280 --> 00:04:29.469 align:start position:0% other thing is that everyone becomes their<00:04:27.400> own<00:04:27.560> chain<00:04:28.120> because<00:04:28.360> we<00:04:28.479> can<00:04:29.160> like<00:04:29.360> get 00:04:29.469 --> 00:04:29.479 align:start position:0% their own chain because we can like get 00:04:29.479 --> 00:04:31.150 align:start position:0% their own chain because we can like get rid<00:04:29.600> of<00:04:29.759> of<00:04:29.840> the<00:04:29.919> weird<00:04:30.160> abstraction<00:04:30.600> barrier 00:04:31.150 --> 00:04:31.160 align:start position:0% rid of of the weird abstraction barrier 00:04:31.160 --> 00:04:33.830 align:start position:0% rid of of the weird abstraction barrier between<00:04:31.960> uh<00:04:32.080> users<00:04:32.520> and<00:04:32.680> chains<00:04:33.199> where<00:04:33.479> users 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align:start position:0% this circle no matter how hard they 00:04:39.960 --> 00:04:42.029 align:start position:0% this circle no matter how hard they pretend<00:04:40.280> not<00:04:40.400> to<00:04:40.520> be<00:04:40.960> is<00:04:41.080> a<00:04:41.199> blockchain<00:04:41.919> like 00:04:42.029 --> 00:04:42.039 align:start position:0% pretend not to be is a blockchain like 00:04:42.039 --> 00:04:44.230 align:start position:0% pretend not to be is a blockchain like they<00:04:42.160> are<00:04:42.320> the<00:04:42.479> blockchain<00:04:42.880> that<00:04:42.960> issues<00:04:43.280> usdc 00:04:44.230 --> 00:04:44.240 align:start position:0% they are the blockchain that issues usdc 00:04:44.240 --> 00:04:46.390 align:start position:0% they are the blockchain that issues usdc on<00:04:44.360> a<00:04:44.479> one<00:04:44.639> out<00:04:44.800> of<00:04:44.960> one 00:04:46.390 --> 00:04:46.400 align:start position:0% on a one out of one 00:04:46.400 --> 00:04:49.950 align:start position:0% on a one out of one key<00:04:47.520> fundamentally<00:04:48.520> when<00:04:48.680> I<00:04:48.840> think<00:04:49.039> about<00:04:49.400> why 00:04:49.950 --> 00:04:49.960 align:start position:0% key fundamentally when I think about why 00:04:49.960 --> 00:04:51.830 align:start position:0% key fundamentally when I think about why I<00:04:50.080> joined<00:04:50.400> the<00:04:50.520> space<00:04:50.800> seven<00:04:51.039> years<00:04:51.240> ago<00:04:51.520> it's 00:04:51.830 --> 00:04:51.840 align:start position:0% I joined the space seven years ago it's 00:04:51.840 --> 00:04:54.510 align:start position:0% I joined the space seven years ago it's because<00:04:52.360> we<00:04:52.479> want<00:04:52.639> to<00:04:52.759> build<00:04:53.120> for<00:04:53.360> World<00:04:53.720> War<00:04:53.960> I 00:04:54.510 --> 00:04:54.520 align:start position:0% because we want to build for World War I 00:04:54.520 --> 00:04:55.749 align:start position:0% because we want to build for World War I like<00:04:54.639> we<00:04:54.720> want<00:04:54.840> to<00:04:54.919> build<00:04:55.160> World<00:04:55.360> War<00:04:55.520> II 00:04:55.749 --> 00:04:55.759 align:start position:0% like we want to build World War II 00:04:55.759 --> 00:04:57.909 align:start position:0% like we want to build World War II resilient<00:04:56.240> infrastructure<00:04:57.199> because 00:04:57.909 --> 00:04:57.919 align:start position:0% resilient infrastructure because 00:04:57.919 --> 00:05:00.110 align:start position:0% resilient infrastructure because fundamentally<00:04:58.520> the<00:04:58.600> world<00:04:58.800> is<00:04:58.960> becoming<00:04:59.320> more 00:05:00.110 --> 00:05:00.120 align:start position:0% fundamentally the world is becoming more 00:05:00.120 --> 00:05:01.909 align:start position:0% fundamentally the world is becoming more unstable<00:05:00.720> it's<00:05:00.840> becoming<00:05:01.160> very<00:05:01.320> multipolar 00:05:01.909 --> 00:05:01.919 align:start position:0% unstable it's becoming very multipolar 00:05:01.919 --> 00:05:04.830 align:start position:0% unstable it's becoming very multipolar at<00:05:02.039> the<00:05:02.120> moment<00:05:02.880> and<00:05:03.120> so<00:05:04.120> the<00:05:04.280> infrastructure 00:05:04.830 --> 00:05:04.840 align:start position:0% at the moment and so the infrastructure 00:05:04.840 --> 00:05:07.070 align:start position:0% at the moment and so the infrastructure that<00:05:04.960> we<00:05:05.160> built<00:05:05.400> in<00:05:05.520> the<00:05:05.680> past<00:05:06.320> sort<00:05:06.479> of<00:05:06.840> won't 00:05:07.070 --> 00:05:07.080 align:start position:0% that we built in the past sort of won't 00:05:07.080 --> 00:05:08.870 align:start position:0% that we built in the past sort of won't survive<00:05:07.400> a<00:05:07.560> dedicated<00:05:08.080> attack<00:05:08.440> like<00:05:08.560> all<00:05:08.680> our 00:05:08.870 --> 00:05:08.880 align:start position:0% survive a dedicated attack like all our 00:05:08.880 --> 00:05:10.590 align:start position:0% survive a dedicated attack like all our past<00:05:09.120> infrastructure<00:05:09.600> was<00:05:09.720> built<00:05:09.960> around<00:05:10.160> PX 00:05:10.590 --> 00:05:10.600 align:start position:0% past infrastructure was built around PX 00:05:10.600 --> 00:05:13.510 align:start position:0% past infrastructure was built around PX Amana<00:05:11.600> um<00:05:11.840> and<00:05:12.000> it's<00:05:12.560> not<00:05:12.840> resilient<00:05:13.320> enough 00:05:13.510 --> 00:05:13.520 align:start position:0% Amana um and it's not resilient enough 00:05:13.520 --> 00:05:15.310 align:start position:0% Amana um and it's not resilient enough so<00:05:13.680> we<00:05:13.800> need<00:05:13.960> a<00:05:14.280> replacement<00:05:14.840> upgrade<00:05:15.160> for 00:05:15.310 --> 00:05:15.320 align:start position:0% so we need a replacement upgrade for 00:05:15.320 --> 00:05:16.990 align:start position:0% so we need a replacement upgrade for existing<00:05:15.680> coordination<00:05:16.080> infrastructure 00:05:16.990 --> 00:05:17.000 align:start position:0% existing coordination infrastructure 00:05:17.000 --> 00:05:18.790 align:start position:0% existing coordination infrastructure because<00:05:17.320> on<00:05:17.600> world<00:05:17.840> on<00:05:18.000> day<00:05:18.160> one<00:05:18.319> of<00:05:18.440> World<00:05:18.639> War 00:05:18.790 --> 00:05:18.800 align:start position:0% because on world on day one of World War 00:05:18.800 --> 00:05:21.830 align:start position:0% because on world on day one of World War III<00:05:19.360> Global<00:05:19.720> connectivity<00:05:20.319> will<00:05:20.520> just<00:05:20.840> stop 00:05:21.830 --> 00:05:21.840 align:start position:0% III Global connectivity will just stop 00:05:21.840 --> 00:05:23.390 align:start position:0% III Global connectivity will just stop uh<00:05:22.000> this<00:05:22.120> is<00:05:22.440> I<00:05:22.520> think<00:05:22.919> this<00:05:23.039> needs<00:05:23.240> to<00:05:23.319> be 00:05:23.390 --> 00:05:23.400 align:start position:0% uh this is I think this needs to be 00:05:23.400 --> 00:05:25.309 align:start position:0% uh this is I think this needs to be treated<00:05:23.800> as<00:05:24.000> given<00:05:24.319> that<00:05:24.440> Global<00:05:24.759> fiber<00:05:25.120> is 00:05:25.309 --> 00:05:25.319 align:start position:0% treated as given that Global fiber is 00:05:25.319 --> 00:05:26.830 align:start position:0% treated as given that Global fiber is going<00:05:25.479> to<00:05:25.639> go<00:05:25.800> away<00:05:26.000> and<00:05:26.160> most<00:05:26.400> satellites 00:05:26.830 --> 00:05:26.840 align:start position:0% going to go away and most satellites 00:05:26.840 --> 00:05:29.430 align:start position:0% going to go away and most satellites will<00:05:27.000> drop<00:05:27.199> out<00:05:27.319> of<00:05:27.479> the<00:05:27.639> sky<00:05:28.479> um<00:05:29.039> the<00:05:29.319> the 00:05:29.430 --> 00:05:29.440 align:start position:0% will drop out of the sky um the the 00:05:29.440 --> 00:05:33.270 align:start position:0% will drop out of the sky um the the other<00:05:29.800> thing<00:05:29.919> to<00:05:30.120> consider<00:05:31.120> is<00:05:31.520> that<00:05:32.520> um 00:05:33.270 --> 00:05:33.280 align:start position:0% other thing to consider is that um 00:05:33.280 --> 00:05:35.629 align:start position:0% other thing to consider is that um privacy<00:05:33.759> we<00:05:33.880> need<00:05:34.120> this<00:05:34.639> not<00:05:34.800> to<00:05:35.000> like<00:05:35.240> height 00:05:35.629 --> 00:05:35.639 align:start position:0% privacy we need this not to like height 00:05:35.639 --> 00:05:37.870 align:start position:0% privacy we need this not to like height something<00:05:36.000> but<00:05:36.360> fundamentally<00:05:37.039> for<00:05:37.400> National 00:05:37.870 --> 00:05:37.880 align:start position:0% something but fundamentally for National 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community from<00:05:44.680> the<00:05:44.800> outside 00:05:46.150 --> 00:05:46.160 align:start position:0% from the outside 00:05:46.160 --> 00:05:51.390 align:start position:0% from the outside world<00:05:47.360> um<00:05:48.360> yes<00:05:49.160> so<00:05:50.000> I<00:05:50.120> will<00:05:50.440> quickly<00:05:50.759> skip<00:05:51.080> over 00:05:51.390 --> 00:05:51.400 align:start position:0% world um yes so I will quickly skip over 00:05:51.400 --> 00:05:54.590 align:start position:0% world um yes so I will quickly skip over this<00:05:52.240> um<00:05:53.000> but<00:05:53.280> fundamentally<00:05:54.240> local 00:05:54.590 --> 00:05:54.600 align:start position:0% this um but fundamentally local 00:05:54.600 --> 00:05:56.990 align:start position:0% this um but fundamentally local instances<00:05:55.199> must<00:05:55.600> work<00:05:55.919> regardless<00:05:56.400> of<00:05:56.560> global 00:05:56.990 --> 00:05:57.000 align:start position:0% instances must work regardless of global 00:05:57.000 --> 00:05:59.070 align:start position:0% instances must work regardless of global connectivity<00:05:58.000> and<00:05:58.080> so<00:05:58.280> you<00:05:58.360> want<00:05:58.479> to<00:05:58.639> be<00:05:58.919> as 00:05:59.070 --> 00:05:59.080 align:start position:0% connectivity and so you want to be as 00:05:59.080 --> 00:06:01.270 align:start position:0% connectivity and so you want to be as local<00:05:59.440> as<00:05:59.919> for<00:06:00.160> quiet<00:06:00.520> but<00:06:00.639> as<00:06:00.800> Global<00:06:01.120> as 00:06:01.270 --> 00:06:01.280 align:start position:0% local as for quiet but as Global as 00:06:01.280 --> 00:06:02.710 align:start position:0% local as for quiet but as Global as possible<00:06:01.600> depending<00:06:01.919> on<00:06:02.080> the<00:06:02.199> underlying 00:06:02.710 --> 00:06:02.720 align:start position:0% possible depending on the underlying 00:06:02.720 --> 00:06:04.350 align:start position:0% possible depending on the underlying physical<00:06:03.039> networking<00:06:03.560> characteristics<00:06:04.240> that 00:06:04.350 --> 00:06:04.360 align:start position:0% physical networking characteristics that 00:06:04.360 --> 00:06:07.350 align:start position:0% physical networking characteristics that you<00:06:04.639> find<00:06:05.639> uh<00:06:06.120> one<00:06:06.240> of<00:06:06.360> the<00:06:06.560> best<00:06:06.800> examples<00:06:07.199> for 00:06:07.350 --> 00:06:07.360 align:start position:0% you find uh one of the best examples for 00:06:07.360 --> 00:06:09.390 align:start position:0% you find uh one of the best examples for this<00:06:07.520> is<00:06:07.840> oh<00:06:08.280> if<00:06:08.400> you're<00:06:08.520> in<00:06:08.680> this<00:06:08.880> room<00:06:09.199> you're 00:06:09.390 --> 00:06:09.400 align:start position:0% this is oh if you're in this room you're 00:06:09.400 --> 00:06:12.110 align:start position:0% this is oh if you're in this room you're in<00:06:09.680> charge<00:06:10.680> very<00:06:10.960> fundamentally<00:06:11.840> you<00:06:11.960> should 00:06:12.110 --> 00:06:12.120 align:start position:0% in charge very fundamentally you should 00:06:12.120 --> 00:06:13.350 align:start position:0% in charge very fundamentally you should be<00:06:12.240> running<00:06:12.520> your<00:06:12.639> own<00:06:12.759> notes<00:06:13.080> you<00:06:13.160> should<00:06:13.280> be 00:06:13.350 --> 00:06:13.360 align:start position:0% be running your own notes you should be 00:06:13.360 --> 00:06:15.029 align:start position:0% be running your own notes you should be running<00:06:13.599> your<00:06:13.680> own<00:06:13.840> infrastructure<00:06:14.680> if<00:06:14.840> you 00:06:15.029 --> 00:06:15.039 align:start position:0% running your own infrastructure if you 00:06:15.039 --> 00:06:17.990 align:start position:0% running your own infrastructure if you sit<00:06:15.360> here<00:06:15.960> you<00:06:16.160> have<00:06:16.280> to<00:06:16.520> provide<00:06:17.039> like 00:06:17.990 --> 00:06:18.000 align:start position:0% sit here you have to provide like 00:06:18.000 --> 00:06:19.629 align:start position:0% sit here you have to provide like digital<00:06:18.360> infrastructure<00:06:18.919> for<00:06:19.080> your<00:06:19.240> parents 00:06:19.629 --> 00:06:19.639 align:start position:0% digital infrastructure for your parents 00:06:19.639 --> 00:06:21.589 align:start position:0% digital infrastructure for your parents and<00:06:19.759> your<00:06:19.919> local<00:06:20.240> community<00:06:21.039> uh<00:06:21.160> no<00:06:21.240> one<00:06:21.400> else 00:06:21.589 --> 00:06:21.599 align:start position:0% and your local community uh no one else 00:06:21.599 --> 00:06:23.350 align:start position:0% and your local community uh no one else is<00:06:21.720> going<00:06:21.880> to<00:06:22.039> do<00:06:22.240> this<00:06:22.639> a<00:06:22.759> good<00:06:22.960> example<00:06:23.280> of 00:06:23.350 --> 00:06:23.360 align:start position:0% is going to do this a good example of 00:06:23.360 --> 00:06:25.550 align:start position:0% is going to do this a good example of this<00:06:23.479> is<00:06:23.680> ham<00:06:23.919> radios<00:06:24.240> in<00:06:24.440> zuk<00:06:25.080> where<00:06:25.240> a<00:06:25.360> bunch 00:06:25.550 --> 00:06:25.560 align:start position:0% this is ham radios in zuk where a bunch 00:06:25.560 --> 00:06:27.469 align:start position:0% this is ham radios in zuk where a bunch of<00:06:25.680> volunteers<00:06:26.160> formed<00:06:26.440> the<00:06:26.560> ham<00:06:26.759> radio<00:06:27.080> club 00:06:27.469 --> 00:06:27.479 align:start position:0% of volunteers formed the ham radio club 00:06:27.479 --> 00:06:30.070 align:start position:0% of volunteers formed the ham radio club that<00:06:27.680> Pro<00:06:28.080> uh<00:06:28.240> provides<00:06:28.960> 6<00:06:29.280> hour<00:06:29.639> emergency 00:06:30.070 --> 00:06:30.080 align:start position:0% that Pro uh provides 6 hour emergency 00:06:30.080 --> 00:06:31.749 align:start position:0% that Pro uh provides 6 hour emergency backup<00:06:30.720> like<00:06:30.880> within<00:06:31.120> 6<00:06:31.319> hours<00:06:31.520> they<00:06:31.639> have 00:06:31.749 --> 00:06:31.759 align:start position:0% backup like within 6 hours they have 00:06:31.759 --> 00:06:35.629 align:start position:0% backup like within 6 hours they have emergency<00:06:32.160> backup<00:06:32.479> coms<00:06:32.919> online<00:06:33.919> um<00:06:34.440> to<00:06:35.440> in 00:06:35.629 --> 00:06:35.639 align:start position:0% emergency backup coms online um to in 00:06:35.639 --> 00:06:38.110 align:start position:0% emergency backup coms online um to in case<00:06:36.440> connectivity<00:06:37.080> drops<00:06:37.479> in<00:06:37.639> zuk<00:06:37.919> where<00:06:38.039> I 00:06:38.110 --> 00:06:38.120 align:start position:0% case connectivity drops in zuk where I 00:06:38.120 --> 00:06:39.830 align:start position:0% case connectivity drops in zuk where I live<00:06:38.280> in<00:06:38.360> Switzerland<00:06:39.080> so<00:06:39.280> they<00:06:39.440> have<00:06:39.680> like 00:06:39.830 --> 00:06:39.840 align:start position:0% live in Switzerland so they have like 00:06:39.840 --> 00:06:41.550 align:start position:0% live in Switzerland so they have like these<00:06:40.039> trucks<00:06:40.520> with<00:06:40.919> generators<00:06:41.400> and 00:06:41.550 --> 00:06:41.560 align:start position:0% these trucks with generators and 00:06:41.560 --> 00:06:42.909 align:start position:0% these trucks with generators and antennas<00:06:41.960> and<00:06:42.080> they<00:06:42.199> drive<00:06:42.400> to<00:06:42.520> the<00:06:42.639> mountain 00:06:42.909 --> 00:06:42.919 align:start position:0% antennas and they drive to the mountain 00:06:42.919 --> 00:06:45.029 align:start position:0% antennas and they drive to the mountain peaks<00:06:43.520> in<00:06:43.599> order<00:06:43.840> to<00:06:44.039> restore<00:06:44.440> local<00:06:44.720> area 00:06:45.029 --> 00:06:45.039 align:start position:0% peaks in order to restore local area 00:06:45.039 --> 00:06:48.350 align:start position:0% peaks in order to restore local area networking<00:06:45.520> again<00:06:45.720> for<00:06:45.840> emergency 00:06:48.350 --> 00:06:48.360 align:start position:0% networking again for emergency 00:06:48.360 --> 00:06:51.230 align:start position:0% networking again for emergency services<00:06:49.360> that's<00:06:49.520> a<00:06:49.639> quick<00:06:49.800> TDR<00:06:50.800> a<00:06:50.960> single 00:06:51.230 --> 00:06:51.240 align:start position:0% services that's a quick TDR a single 00:06:51.240 --> 00:06:52.469 align:start position:0% services that's a quick TDR a single decentralized<00:06:51.759> network<00:06:52.039> is<00:06:52.120> still<00:06:52.280> very 00:06:52.469 --> 00:06:52.479 align:start position:0% decentralized network is still very 00:06:52.479 --> 00:06:54.309 align:start position:0% decentralized network is still very centralized<00:06:53.039> and<00:06:53.160> a<00:06:53.319> single<00:06:53.639> Global<00:06:53.960> Security 00:06:54.309 --> 00:06:54.319 align:start position:0% centralized and a single Global Security 00:06:54.319 --> 00:06:57.790 align:start position:0% centralized and a single Global Security model<00:06:54.800> is<00:06:55.000> fundamentally<00:06:55.759> terrifying<00:06:56.759> um<00:06:57.240> and 00:06:57.790 --> 00:06:57.800 align:start position:0% model is fundamentally terrifying um and 00:06:57.800 --> 00:07:00.029 align:start position:0% model is fundamentally terrifying um and fundamentally<00:06:58.800> you<00:06:59.039> have<00:06:59.160> to<00:06:59.280> run 00:07:00.029 --> 00:07:00.039 align:start position:0% fundamentally you have to run 00:07:00.039 --> 00:07:02.150 align:start position:0% fundamentally you have to run infrastructure<00:07:00.879> if<00:07:01.000> you<00:07:01.280> lie<00:07:01.639> relying<00:07:02.000> on 00:07:02.150 --> 00:07:02.160 align:start position:0% infrastructure if you lie relying on 00:07:02.160 --> 00:07:04.390 align:start position:0% infrastructure if you lie relying on Fury<00:07:02.639> you're<00:07:02.800> doing<00:07:03.039> it<00:07:03.280> wrong<00:07:03.840> and<00:07:04.039> privacy 00:07:04.390 --> 00:07:04.400 align:start position:0% Fury you're doing it wrong and privacy 00:07:04.400 --> 00:07:05.430 align:start position:0% Fury you're doing it wrong and privacy for<00:07:04.560> National 00:07:05.430 --> 00:07:05.440 align:start position:0% for National 00:07:05.440 --> 00:07:07.550 align:start position:0% for National Defense<00:07:06.440> yeah<00:07:06.800> we've<00:07:07.000> got<00:07:07.080> to<00:07:07.160> be<00:07:07.280> building 00:07:07.550 --> 00:07:07.560 align:start position:0% Defense yeah we've got to be building 00:07:07.560 --> 00:07:09.110 align:start position:0% Defense yeah we've got to be building World<00:07:07.759> War<00:07:07.879> 3<00:07:08.080> resilient<00:07:08.479> infrastructure<00:07:09.000> as 00:07:09.110 --> 00:07:09.120 align:start position:0% World War 3 resilient infrastructure as 00:07:09.120 --> 00:07:12.869 align:start position:0% World War 3 resilient infrastructure as a<00:07:09.240> framing<00:07:09.919> thank<00:07:10.080> you<00:07:10.199> very 00:07:12.869 --> 00:07:12.879 align:start position:0% 00:07:12.879 --> 00:07:16.510 align:start position:0% much<00:07:13.879> thank<00:07:14.000> you<00:07:14.120> very<00:07:14.280> much<00:07:14.840> Adrian<00:07:15.840> so<00:07:16.360> if 00:07:16.510 --> 00:07:16.520 align:start position:0% much thank you very much Adrian so if 00:07:16.520 --> 00:07:18.110 align:start position:0% much thank you very much Adrian so if there<00:07:16.639> are<00:07:16.800> any<00:07:17.039> questions<00:07:17.520> please<00:07:17.879> raise 00:07:18.110 --> 00:07:18.120 align:start position:0% there are any questions please raise 00:07:18.120 --> 00:07:21.189 align:start position:0% there are any questions please raise your<00:07:18.319> hand<00:07:18.680> I<00:07:18.759> will<00:07:18.919> toss<00:07:19.240> the<00:07:19.360> mic<00:07:19.599> to<00:07:20.199> you 00:07:21.189 --> 00:07:21.199 align:start position:0% your hand I will toss the mic to you 00:07:21.199 --> 00:07:23.749 align:start position:0% your hand I will toss the mic to you don't<00:07:21.400> worry<00:07:21.599> it<00:07:21.680> doesn't<00:07:21.919> hurt<00:07:22.639> soft<00:07:23.160> again 00:07:23.749 --> 00:07:23.759 align:start position:0% don't worry it doesn't hurt soft again 00:07:23.759 --> 00:07:26.510 align:start position:0% don't worry it doesn't hurt soft again doesn't 00:07:26.510 --> 00:07:26.520 align:start position:0% 00:07:26.520 --> 00:07:34.070 align:start position:0% break<00:07:27.520> let's<00:07:27.759> go 00:07:34.070 --> 00:07:34.080 align:start position:0% 00:07:34.080 --> 00:07:38.390 align:start position:0% almost<00:07:35.080> all<00:07:35.199> right<00:07:35.479> but<00:07:35.919> um<00:07:36.240> besides<00:07:36.800> the<00:07:37.520> Suk 00:07:38.390 --> 00:07:38.400 align:start position:0% almost all right but um besides the Suk 00:07:38.400 --> 00:07:41.510 align:start position:0% almost all right but um besides the Suk the<00:07:39.039> network<00:07:40.039> uh<00:07:40.360> what<00:07:40.479> are<00:07:40.759> the<00:07:41.120> possible 00:07:41.510 --> 00:07:41.520 align:start position:0% the network uh what are the possible 00:07:41.520 --> 00:07:43.710 align:start position:0% the network uh what are the possible practical<00:07:42.000> implementations<00:07:42.680> of<00:07:42.960> this<00:07:43.440> U 00:07:43.710 --> 00:07:43.720 align:start position:0% practical implementations of this U 00:07:43.720 --> 00:07:46.469 align:start position:0% practical implementations of this U approach<00:07:44.680> um<00:07:44.960> for<00:07:45.159> example<00:07:45.560> if<00:07:45.680> we<00:07:45.840> lose 00:07:46.469 --> 00:07:46.479 align:start position:0% approach um for example if we lose 00:07:46.479 --> 00:07:48.309 align:start position:0% approach um for example if we lose connectivity<00:07:47.159> we<00:07:47.240> should<00:07:47.440> still<00:07:47.639> be<00:07:47.879> capable 00:07:48.309 --> 00:07:48.319 align:start position:0% connectivity we should still be capable 00:07:48.319 --> 00:07:50.749 align:start position:0% connectivity we should still be capable of<00:07:48.479> forming<00:07:48.960> a<00:07:49.199> local<00:07:49.599> coordination<00:07:50.400> effec 00:07:50.749 --> 00:07:50.759 align:start position:0% of forming a local coordination effec 00:07:50.759 --> 00:07:53.309 align:start position:0% of forming a local coordination effec your<00:07:50.919> local<00:07:51.120> on<00:07:51.319> demand<00:07:51.639> chain<00:07:52.599> to<00:07:52.879> just<00:07:53.080> use 00:07:53.309 --> 00:07:53.319 align:start position:0% your local on demand chain to just use 00:07:53.319 --> 00:07:54.950 align:start position:0% your local on demand chain to just use within<00:07:53.680> this<00:07:53.800> room<00:07:54.120> right<00:07:54.319> like<00:07:54.479> even<00:07:54.680> if<00:07:54.800> we 00:07:54.950 --> 00:07:54.960 align:start position:0% within this room right like even if we 00:07:54.960 --> 00:07:56.270 align:start position:0% within this room right like even if we just<00:07:55.120> wanted<00:07:55.520> like<00:07:55.639> outside<00:07:55.919> of<00:07:56.039> the<00:07:56.120> World 00:07:56.270 --> 00:07:56.280 align:start position:0% just wanted like outside of the World 00:07:56.280 --> 00:07:58.350 align:start position:0% just wanted like outside of the World War<00:07:56.440> III<00:07:56.680> example<00:07:57.440> but<00:07:57.560> in<00:07:57.680> the<00:07:57.800> more<00:07:58.000> specific 00:07:58.350 --> 00:07:58.360 align:start position:0% War III example but in the more specific 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00:08:04.599 --> 00:08:06.029 align:start position:0% run this on our own chain here because this<00:08:04.680> is<00:08:04.879> going<00:08:05.039> to<00:08:05.120> be<00:08:05.240> the<00:08:05.360> single<00:08:05.680> fastest 00:08:06.029 --> 00:08:06.039 align:start position:0% this is going to be the single fastest 00:08:06.039 --> 00:08:07.749 align:start position:0% this is going to be the single fastest thing<00:08:06.159> you<00:08:06.280> can<00:08:06.440> do<00:08:06.879> like<00:08:07.039> whenever<00:08:07.479> you<00:08:07.599> care 00:08:07.749 --> 00:08:07.759 align:start position:0% thing you can do like whenever you care 00:08:07.759 --> 00:08:10.230 align:start position:0% thing you can do like whenever you care about<00:08:07.960> latency<00:08:08.800> you<00:08:08.960> want<00:08:09.080> to<00:08:09.720> really 00:08:10.230 --> 00:08:10.240 align:start position:0% about latency you want to really 00:08:10.240 --> 00:08:12.550 align:start position:0% about latency you want to really strongly<00:08:10.800> consider<00:08:11.800> what<00:08:12.000> kind<00:08:12.120> of<00:08:12.240> state<00:08:12.440> you 00:08:12.550 --> 00:08:12.560 align:start position:0% strongly consider what kind of state you 00:08:12.560 --> 00:08:14.550 align:start position:0% strongly consider what kind of state you need<00:08:12.680> to<00:08:12.800> collocate<00:08:13.280> next<00:08:13.440> to<00:08:13.560> each<00:08:13.720> other<00:08:14.120> and 00:08:14.550 --> 00:08:14.560 align:start position:0% need to collocate next to each other and 00:08:14.560 --> 00:08:17.149 align:start position:0% need to collocate next to each other and like<00:08:15.000> if<00:08:15.120> you<00:08:15.639> need<00:08:15.960> to<00:08:16.240> have<00:08:16.440> fast<00:08:16.720> Laten<00:08:17.080> or 00:08:17.149 --> 00:08:17.159 align:start position:0% like if you need to have fast Laten or 00:08:17.159 --> 00:08:19.230 align:start position:0% like if you need to have fast Laten or low<00:08:17.360> latency<00:08:18.080> you<00:08:18.240> need<00:08:18.360> to<00:08:18.520> be<00:08:18.720> as<00:08:18.879> close<00:08:19.120> to 00:08:19.230 --> 00:08:19.240 align:start position:0% low latency you need to be as close to 00:08:19.240 --> 00:08:22.149 align:start position:0% low latency you need to be as close to each<00:08:19.360> other<00:08:19.560> as 00:08:22.149 --> 00:08:22.159 align:start position:0% 00:08:22.159 --> 00:08:27.909 align:start position:0% possible<00:08:23.159> good<00:08:23.360> question<00:08:23.720> by<00:08:23.840> the 00:08:27.909 --> 00:08:27.919 align:start position:0% 00:08:27.919 --> 00:08:32.509 align:start position:0% way<00:08:28.919> are<00:08:29.240> there<00:08:29.680> any<00:08:29.840> more<00:08:30.080> questions 00:08:32.509 --> 00:08:32.519 align:start position:0% way are there any more questions 00:08:32.519 --> 00:08:34.630 align:start position:0% way are there any more questions foran<00:08:33.519> have 00:08:34.630 --> 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State<00:08:43.560> um<00:08:44.399> so<00:08:44.800> you<00:08:44.959> can<00:08:45.560> tag<00:08:46.000> State<00:08:46.600> and 00:08:46.790 --> 00:08:46.800 align:start position:0% Global State um so you can tag State and 00:08:46.800 --> 00:08:48.470 align:start position:0% Global State um so you can tag State and again<00:08:47.200> very<00:08:47.399> good<00:08:47.600> question<00:08:47.920> actually<00:08:48.279> most 00:08:48.470 --> 00:08:48.480 align:start position:0% again very good question actually most 00:08:48.480 --> 00:08:51.190 align:start position:0% again very good question actually most people<00:08:48.640> don't<00:08:48.839> think<00:08:49.040> about<00:08:49.320> this<00:08:50.000> but<00:08:50.800> so<00:08:51.080> you 00:08:51.190 --> 00:08:51.200 align:start position:0% people don't think about this but so you 00:08:51.200 --> 00:08:53.030 align:start position:0% people don't think about this but so you can<00:08:51.440> tag<00:08:51.760> each<00:08:51.959> individual<00:08:52.440> piece<00:08:52.640> of<00:08:52.760> state 00:08:53.030 --> 00:08:53.040 align:start position:0% can tag each individual piece of state 00:08:53.040 --> 00:08:54.949 align:start position:0% can tag each individual piece of state to<00:08:53.200> be<00:08:53.680> and<00:08:53.880> I<00:08:54.040> skipped<00:08:54.399> over<00:08:54.600> this<00:08:54.720> in<00:08:54.839> the 00:08:54.949 --> 00:08:54.959 align:start position:0% to be and I skipped over this in the 00:08:54.959 --> 00:08:57.030 align:start position:0% to be and I skipped over this in the slide<00:08:55.279> to<00:08:55.440> be<00:08:55.720> controlled<00:08:56.160> by<00:08:56.399> specific<00:08:56.760> state 00:08:57.030 --> 00:08:57.040 align:start position:0% slide to be controlled by specific state 00:08:57.040 --> 00:08:58.870 align:start position:0% slide to be controlled by specific state controller<00:08:57.959> and<00:08:58.160> for<00:08:58.320> example<00:08:58.600> if<00:08:58.680> you<00:08:58.760> want 00:08:58.870 --> 00:08:58.880 align:start position:0% controller and for example if you want 00:08:58.880 --> 00:09:00.389 align:start position:0% controller and for example if you want to<00:08:59.000> do<00:08:59.120> local<00:08:59.519> settlement<00:08:59.880> and<00:09:00.000> we<00:09:00.079> currently 00:09:00.389 --> 00:09:00.399 align:start position:0% to do local settlement and we currently 00:09:00.399 --> 00:09:02.269 align:start position:0% to do local settlement and we currently have<00:09:00.519> all<00:09:00.640> our<00:09:00.800> state<00:09:01.000> in<00:09:01.160> global<00:09:01.480> ethereum 00:09:02.269 --> 00:09:02.279 align:start position:0% have all our state in global ethereum 00:09:02.279 --> 00:09:04.670 align:start position:0% have all our state in global ethereum we'd<00:09:02.480> move<00:09:02.720> it<00:09:02.959> temporarily<00:09:03.600> into<00:09:03.839> s<00:09:04.040> of<00:09:04.440> into 00:09:04.670 --> 00:09:04.680 align:start position:0% we'd move it temporarily into s of into 00:09:04.680 --> 00:09:05.990 align:start position:0% we'd move it temporarily into s of into the<00:09:04.880> custody<00:09:05.200> of<00:09:05.320> the<00:09:05.440> local<00:09:05.720> state 00:09:05.990 --> 00:09:06.000 align:start position:0% the custody of the local state 00:09:06.000 --> 00:09:07.389 align:start position:0% the custody of the local state controller<00:09:06.680> and<00:09:06.839> this<00:09:06.959> could<00:09:07.120> be<00:09:07.240> a 00:09:07.389 --> 00:09:07.399 align:start position:0% controller and this could be a 00:09:07.399 --> 00:09:09.790 align:start position:0% controller and this could be a blockchain<00:09:07.880> run<00:09:08.200> by<00:09:08.720> I<00:09:08.800> don't<00:09:08.920> know<00:09:09.360> the<00:09:09.560> 100 00:09:09.790 --> 00:09:09.800 align:start position:0% blockchain run by I don't know the 100 00:09:09.800 --> 00:09:11.949 align:start position:0% blockchain run by I don't know the 100 people<00:09:10.120> here<00:09:10.720> uh<00:09:10.920> or<00:09:11.079> like<00:09:11.200> the<00:09:11.279> 4,000<00:09:11.800> people 00:09:11.949 --> 00:09:11.959 align:start position:0% people here uh or like the 4,000 people 00:09:11.959 --> 00:09:13.350 align:start position:0% people here uh or like the 4,000 people at<00:09:12.079> the<00:09:12.200> conference<00:09:12.720> and<00:09:12.800> then<00:09:12.959> whenever<00:09:13.240> we 00:09:13.350 --> 00:09:13.360 align:start position:0% at the conference and then whenever we 00:09:13.360 --> 00:09:14.710 align:start position:0% at the conference and then whenever we want<00:09:13.440> to<00:09:13.560> tear<00:09:13.800> this<00:09:13.920> down<00:09:14.160> we<00:09:14.240> can<00:09:14.360> move<00:09:14.519> our 00:09:14.710 --> 00:09:14.720 align:start position:0% want to tear this down we can move our 00:09:14.720 --> 00:09:17.230 align:start position:0% want to tear this down we can move our state<00:09:15.000> back<00:09:15.160> out<00:09:16.120> uh<00:09:16.440> this<00:09:16.600> requires<00:09:17.000> a<00:09:17.079> little 00:09:17.230 --> 00:09:17.240 align:start position:0% state back out uh this requires a little 00:09:17.240 --> 00:09:19.350 align:start position:0% state back out uh this requires a little bit<00:09:17.399> of<00:09:17.560> thinking<00:09:17.920> around<00:09:18.640> how<00:09:18.760> you<00:09:18.920> do<00:09:19.120> state 00:09:19.350 --> 00:09:19.360 align:start position:0% bit of thinking around how you do state 00:09:19.360 --> 00:09:21.590 align:start position:0% bit of thinking around how you do state layouts<00:09:20.040> in<00:09:20.320> these<00:09:20.560> like<00:09:20.800> databases<00:09:21.360> that<00:09:21.480> we 00:09:21.590 --> 00:09:21.600 align:start position:0% layouts in these like databases that we 00:09:21.600 --> 00:09:23.550 align:start position:0% layouts in these like databases that we ended<00:09:21.800> up<00:09:21.959> calling<00:09:22.240> blockchains<00:09:23.240> uh<00:09:23.399> if<00:09:23.480> you 00:09:23.550 --> 00:09:23.560 align:start position:0% ended up calling blockchains uh if you 00:09:23.560 --> 00:09:25.710 align:start position:0% ended up calling blockchains uh if you want<00:09:23.640> to<00:09:23.760> learn<00:09:24.000> more<00:09:24.160> about<00:09:24.399> this<00:09:24.680> I<00:09:25.240> suggest 00:09:25.710 --> 00:09:25.720 align:start position:0% want to learn more about this I suggest 00:09:25.720 --> 00:09:28.430 align:start position:0% want to learn more about this I suggest looking<00:09:25.959> into<00:09:26.120> the<00:09:26.519> anoral<00:09:26.920> resource<00:09:27.440> machine 00:09:28.430 --> 00:09:28.440 align:start position:0% looking into the anoral resource machine 00:09:28.440 --> 00:09:31.350 align:start position:0% looking into the anoral resource machine um<00:09:29.160> which<00:09:29.440> is<00:09:29.519> a<00:09:29.680> very<00:09:29.959> nice<00:09:30.200> resource<00:09:30.640> model 00:09:31.350 --> 00:09:31.360 align:start position:0% um which is a very nice resource model 00:09:31.360 --> 00:09:33.389 align:start position:0% um which is a very nice resource model where<00:09:31.560> every<00:09:31.800> individual<00:09:32.519> piece<00:09:32.720> of<00:09:32.920> state<00:09:33.240> it 00:09:33.389 --> 00:09:33.399 align:start position:0% where every individual piece of state it 00:09:33.399 --> 00:09:34.829 align:start position:0% where every individual piece of state it can<00:09:33.519> be<00:09:33.640> complex<00:09:34.000> State<00:09:34.200> as<00:09:34.320> well<00:09:34.560> like<00:09:34.680> a 00:09:34.829 --> 00:09:34.839 align:start position:0% can be complex State as well like a 00:09:34.839 --> 00:09:37.430 align:start position:0% can be complex State as well like a smart<00:09:35.120> contract<00:09:35.880> is<00:09:36.079> actually<00:09:36.320> tagged<00:09:36.680> as 00:09:37.430 --> 00:09:37.440 align:start position:0% smart contract is actually tagged as 00:09:37.440 --> 00:09:39.949 align:start position:0% smart contract is actually tagged as individual<00:09:37.920> utxo<00:09:38.720> that<00:09:38.839> can<00:09:38.959> be<00:09:39.120> moved<00:09:39.440> around 00:09:39.949 --> 00:09:39.959 align:start position:0% individual utxo that can be moved around 00:09:39.959 --> 00:09:41.910 align:start position:0% individual utxo that can be moved around to<00:09:40.160> different<00:09:40.399> controller 00:09:41.910 --> 00:09:41.920 align:start position:0% to different controller 00:09:41.920 --> 00:09:48.190 align:start position:0% to different controller instances<00:09:42.920> very<00:09:43.160> cool<00:09:43.760> thank<00:09:43.920> you<00:09:44.040> very<00:09:44.200> much 00:09:48.190 --> 00:09:48.200 align:start position:0% 00:09:48.200 --> 00:09:51.920 align:start position:0% Adrian<00:09:49.200> so<00:09:49.440> our<00:09:49.680> next