WEBVTT Kind: captions Language: en 00:00:00.000 --> 00:00:04.350 align:start position:0% foreign 00:00:04.350 --> 00:00:04.360 align:start position:0% 00:00:04.360 --> 00:00:13.870 align:start position:0% [Music] 00:00:13.870 --> 00:00:13.880 align:start position:0% 00:00:13.880 --> 00:00:17.570 align:start position:0% ers<00:00:15.360> why<00:00:15.900> do<00:00:16.080> we<00:00:16.199> need<00:00:16.320> privacy<00:00:16.680> layers<00:00:16.980> and 00:00:17.570 --> 00:00:17.580 align:start position:0% ers why do we need privacy layers and 00:00:17.580 --> 00:00:19.010 align:start position:0% ers why do we need privacy layers and how<00:00:17.760> are<00:00:17.880> we<00:00:18.000> going<00:00:18.119> to<00:00:18.180> get<00:00:18.300> a<00:00:18.539> private<00:00:18.779> layers 00:00:19.010 --> 00:00:19.020 align:start position:0% how are we going to get a private layers 00:00:19.020 --> 00:00:20.929 align:start position:0% how are we going to get a private layers that<00:00:19.140> people<00:00:19.260> need<00:00:19.500> so<00:00:20.039> first 00:00:20.929 --> 00:00:20.939 align:start position:0% that people need so first 00:00:20.939 --> 00:00:24.730 align:start position:0% that people need so first let<00:00:21.359> me<00:00:21.600> State<00:00:22.320> the<00:00:22.500> why<00:00:22.740> for<00:00:23.039> privacy<00:00:23.460> layers 00:00:24.730 --> 00:00:24.740 align:start position:0% let me State the why for privacy layers 00:00:24.740 --> 00:00:26.509 align:start position:0% let me State the why for privacy layers obviously 00:00:26.509 --> 00:00:26.519 align:start position:0% obviously 00:00:26.519 --> 00:00:28.250 align:start position:0% obviously the<00:00:26.880> reason<00:00:27.060> why<00:00:27.599> we<00:00:27.779> need<00:00:27.960> privacy<00:00:28.199> is 00:00:28.250 --> 00:00:28.260 align:start position:0% the reason why we need privacy is 00:00:28.260 --> 00:00:29.750 align:start position:0% the reason why we need privacy is because<00:00:28.439> we<00:00:28.619> don't<00:00:28.740> have<00:00:28.859> it<00:00:28.920> right<00:00:29.039> now 00:00:29.750 --> 00:00:29.760 align:start position:0% because we don't have it right now 00:00:29.760 --> 00:00:31.730 align:start position:0% because we don't have it right now if<00:00:30.300> you're<00:00:30.480> going<00:00:30.599> to<00:00:30.720> Easter<00:00:30.960> CN<00:00:31.320> every 00:00:31.730 --> 00:00:31.740 align:start position:0% if you're going to Easter CN every 00:00:31.740 --> 00:00:33.170 align:start position:0% if you're going to Easter CN every single<00:00:31.980> transaction<00:00:32.279> is<00:00:32.520> public<00:00:32.820> right 00:00:33.170 --> 00:00:33.180 align:start position:0% single transaction is public right 00:00:33.180 --> 00:00:35.810 align:start position:0% single transaction is public right you're<00:00:33.420> able<00:00:33.660> to<00:00:33.719> see<00:00:33.960> the<00:00:34.800> entire<00:00:35.040> history<00:00:35.280> of 00:00:35.810 --> 00:00:35.820 align:start position:0% you're able to see the entire history of 00:00:35.820 --> 00:00:37.549 align:start position:0% you're able to see the entire history of all<00:00:35.940> the<00:00:36.180> wallets 00:00:37.549 --> 00:00:37.559 align:start position:0% all the wallets 00:00:37.559 --> 00:00:40.369 align:start position:0% all the wallets so<00:00:38.280> the<00:00:38.820> second<00:00:39.059> reason<00:00:39.360> why<00:00:39.719> we<00:00:39.960> need<00:00:40.079> privacy 00:00:40.369 --> 00:00:40.379 align:start position:0% so the second reason why we need privacy 00:00:40.379 --> 00:00:43.190 align:start position:0% so the second reason why we need privacy is<00:00:40.980> that<00:00:41.160> if<00:00:41.940> we<00:00:42.059> want<00:00:42.239> mainstream<00:00:42.840> adoption 00:00:43.190 --> 00:00:43.200 align:start position:0% is that if we want mainstream adoption 00:00:43.200 --> 00:00:45.950 align:start position:0% is that if we want mainstream adoption of<00:00:43.320> blockchain<00:00:43.800> Technologies<00:00:44.360> we<00:00:45.360> really 00:00:45.950 --> 00:00:45.960 align:start position:0% of blockchain Technologies we really 00:00:45.960 --> 00:00:49.010 align:start position:0% of blockchain Technologies we really need<00:00:46.399> privacy<00:00:47.399> right<00:00:48.239> it's<00:00:48.600> one<00:00:48.780> of<00:00:48.840> the<00:00:48.899> main 00:00:49.010 --> 00:00:49.020 align:start position:0% need privacy right it's one of the main 00:00:49.020 --> 00:00:52.729 align:start position:0% need privacy right it's one of the main hurdles<00:00:49.579> alongside<00:00:50.579> scalability<00:00:51.239> and 00:00:52.729 --> 00:00:52.739 align:start position:0% hurdles alongside scalability and 00:00:52.739 --> 00:00:55.430 align:start position:0% hurdles alongside scalability and um<00:00:52.800> you<00:00:53.160> know<00:00:53.219> identity<00:00:53.760> and<00:00:54.059> other<00:00:54.300> issues 00:00:55.430 --> 00:00:55.440 align:start position:0% um you know identity and other issues 00:00:55.440 --> 00:00:58.430 align:start position:0% um you know identity and other issues and<00:00:55.980> finally<00:00:56.420> uh<00:00:57.420> I'd<00:00:57.600> like<00:00:57.780> to<00:00:57.960> just<00:00:58.199> quickly 00:00:58.430 --> 00:00:58.440 align:start position:0% and finally uh I'd like to just quickly 00:00:58.440 --> 00:01:01.189 align:start position:0% and finally uh I'd like to just quickly address<00:00:58.680> on<00:00:59.399> uh<00:01:00.120> you<00:01:00.300> know<00:01:00.360> privacy<00:01:01.020> and 00:01:01.189 --> 00:01:01.199 align:start position:0% address on uh you know privacy and 00:01:01.199 --> 00:01:03.170 align:start position:0% address on uh you know privacy and regulation<00:01:01.680> issues 00:01:03.170 --> 00:01:03.180 align:start position:0% regulation issues 00:01:03.180 --> 00:01:06.590 align:start position:0% regulation issues and<00:01:04.379> there's<00:01:05.100> effectively<00:01:06.060> a<00:01:06.180> spectrum 00:01:06.590 --> 00:01:06.600 align:start position:0% and there's effectively a spectrum 00:01:06.600 --> 00:01:08.630 align:start position:0% and there's effectively a spectrum Solutions<00:01:06.960> right<00:01:07.320> when<00:01:07.439> you<00:01:07.619> build<00:01:07.799> privacy 00:01:08.630 --> 00:01:08.640 align:start position:0% Solutions right when you build privacy 00:01:08.640 --> 00:01:11.390 align:start position:0% Solutions right when you build privacy technology<00:01:09.060> we're<00:01:09.720> on<00:01:09.900> one<00:01:10.080> side<00:01:10.260> you<00:01:11.100> build 00:01:11.390 --> 00:01:11.400 align:start position:0% technology we're on one side you build 00:01:11.400 --> 00:01:14.990 align:start position:0% technology we're on one side you build fully<00:01:12.080> self-sovereign<00:01:13.080> Solutions<00:01:14.000> where 00:01:14.990 --> 00:01:15.000 align:start position:0% fully self-sovereign Solutions where 00:01:15.000 --> 00:01:16.910 align:start position:0% fully self-sovereign Solutions where only<00:01:15.420> the<00:01:15.600> individual<00:01:16.080> control<00:01:16.560> their 00:01:16.910 --> 00:01:16.920 align:start position:0% only the individual control their 00:01:16.920 --> 00:01:19.070 align:start position:0% only the individual control their information<00:01:17.100> and<00:01:17.760> assets<00:01:18.119> and<00:01:18.840> the<00:01:18.960> other 00:01:19.070 --> 00:01:19.080 align:start position:0% information and assets and the other 00:01:19.080 --> 00:01:21.170 align:start position:0% information and assets and the other side<00:01:19.500> you<00:01:19.740> could<00:01:19.860> give<00:01:20.159> you<00:01:20.640> know<00:01:20.759> a<00:01:21.000> lot<00:01:21.119> of 00:01:21.170 --> 00:01:21.180 align:start position:0% side you could give you know a lot of 00:01:21.180 --> 00:01:22.490 align:start position:0% side you could give you know a lot of control<00:01:21.360> to<00:01:21.720> The<00:01:21.900> Entity<00:01:22.140> actually 00:01:22.490 --> 00:01:22.500 align:start position:0% control to The Entity actually 00:01:22.500 --> 00:01:24.230 align:start position:0% control to The Entity actually controlling<00:01:22.979> this<00:01:23.100> ecosystem 00:01:24.230 --> 00:01:24.240 align:start position:0% controlling this ecosystem 00:01:24.240 --> 00:01:25.789 align:start position:0% controlling this ecosystem uh<00:01:24.659> while<00:01:24.840> preserving<00:01:25.259> privacy<00:01:25.619> between 00:01:25.789 --> 00:01:25.799 align:start position:0% uh while preserving privacy between 00:01:25.799 --> 00:01:28.249 align:start position:0% uh while preserving privacy between individuals<00:01:26.520> and<00:01:27.360> so<00:01:27.540> on<00:01:27.720> the<00:01:27.900> right<00:01:27.960> side<00:01:28.080> you 00:01:28.249 --> 00:01:28.259 align:start position:0% individuals and so on the right side you 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have<00:01:33.840> something<00:01:34.020> uh<00:01:34.799> that's 00:01:34.969 --> 00:01:34.979 align:start position:0% middle we'll have something uh that's 00:01:34.979 --> 00:01:37.130 align:start position:0% middle we'll have something uh that's more<00:01:35.159> or<00:01:35.340> less<00:01:35.460> uh<00:01:36.240> maybe<00:01:36.420> you<00:01:36.720> know<00:01:36.780> Best<00:01:36.960> of 00:01:37.130 --> 00:01:37.140 align:start position:0% more or less uh maybe you know Best of 00:01:37.140 --> 00:01:39.469 align:start position:0% more or less uh maybe you know Best of Both<00:01:37.259> Worlds<00:01:37.680> where<00:01:38.220> we<00:01:38.579> could<00:01:38.759> have<00:01:39.299> a 00:01:39.469 --> 00:01:39.479 align:start position:0% Both Worlds where we could have a 00:01:39.479 --> 00:01:41.569 align:start position:0% Both Worlds where we could have a privacy<00:01:39.780> preserving<00:01:40.140> system<00:01:40.320> yet<00:01:40.860> give<00:01:41.159> some 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on the why uh let's talk about 00:01:49.439 --> 00:01:52.490 align:start position:0% on the why uh let's talk about what<00:01:49.860> I<00:01:49.979> mean<00:01:50.100> by<00:01:50.280> privacy<00:01:50.640> layers 00:01:52.490 --> 00:01:52.500 align:start position:0% what I mean by privacy layers 00:01:52.500 --> 00:01:55.550 align:start position:0% what I mean by privacy layers um<00:01:52.560> so<00:01:53.640> uh<00:01:54.240> just<00:01:54.360> reiterate<00:01:54.899> everything<00:01:55.200> on 00:01:55.550 --> 00:01:55.560 align:start position:0% um so uh just reiterate everything on 00:01:55.560 --> 00:01:58.069 align:start position:0% um so uh just reiterate everything on ethereums<00:01:56.100> is<00:01:56.520> public<00:01:56.820> so<00:01:57.540> you're<00:01:57.780> able<00:01:58.020> to 00:01:58.069 --> 00:01:58.079 align:start position:0% ethereums is public so you're able to 00:01:58.079 --> 00:02:00.950 align:start position:0% ethereums is public so you're able to see<00:01:58.259> everything<00:01:58.860> on<00:01:59.280> users<00:01:59.640> again<00:01:59.820> and<00:02:00.720> first 00:02:00.950 --> 00:02:00.960 align:start position:0% see everything on users again and first 00:02:00.960 --> 00:02:03.050 align:start position:0% see everything on users again and first uh<00:02:01.619> what<00:02:01.799> I<00:02:01.920> wanted<00:02:02.040> to<00:02:02.220> find<00:02:02.340> is<00:02:02.700> the<00:02:02.820> notion 00:02:03.050 --> 00:02:03.060 align:start position:0% uh what I wanted to find is the notion 00:02:03.060 --> 00:02:04.609 align:start position:0% uh what I wanted to find is the notion called<00:02:03.240> anonymity 00:02:04.609 --> 00:02:04.619 align:start position:0% called anonymity 00:02:04.619 --> 00:02:07.850 align:start position:0% called anonymity so<00:02:05.040> anonymity<00:02:05.579> is<00:02:06.240> the<00:02:07.020> inability<00:02:07.380> to<00:02:07.680> tell 00:02:07.850 --> 00:02:07.860 align:start position:0% so anonymity is the inability to tell 00:02:07.860 --> 00:02:10.790 align:start position:0% so anonymity is the inability to tell who<00:02:08.459> is<00:02:08.580> doing<00:02:08.759> a<00:02:08.940> transaction<00:02:09.300> right<00:02:09.720> so<00:02:10.020> if 00:02:10.790 --> 00:02:10.800 align:start position:0% who is doing a transaction right so if 00:02:10.800 --> 00:02:12.890 align:start position:0% who is doing a transaction right so if somehow<00:02:11.220> you're<00:02:11.459> going<00:02:11.580> to<00:02:11.700> etherscan<00:02:12.300> and 00:02:12.890 --> 00:02:12.900 align:start position:0% somehow you're going to etherscan and 00:02:12.900 --> 00:02:15.229 align:start position:0% somehow you're going to etherscan and you<00:02:13.020> look<00:02:13.140> at<00:02:13.319> transaction<00:02:13.739> and<00:02:14.700> you<00:02:15.120> can't 00:02:15.229 --> 00:02:15.239 align:start position:0% you look at transaction and you can't 00:02:15.239 --> 00:02:17.330 align:start position:0% you look at transaction and you can't really<00:02:15.420> tell<00:02:15.780> who<00:02:16.379> the<00:02:16.560> address<00:02:16.739> you<00:02:17.220> know 00:02:17.330 --> 00:02:17.340 align:start position:0% really tell who the address you know 00:02:17.340 --> 00:02:19.610 align:start position:0% really tell who the address you know whose<00:02:18.180> engineering<00:02:18.480> address<00:02:18.720> then<00:02:19.260> we<00:02:19.440> say 00:02:19.610 --> 00:02:19.620 align:start position:0% whose engineering address then we say 00:02:19.620 --> 00:02:21.710 align:start position:0% whose engineering address then we say that<00:02:19.739> this<00:02:19.920> system<00:02:20.099> that's<00:02:20.340> the<00:02:20.459> anonymity 00:02:21.710 --> 00:02:21.720 align:start position:0% that this system that's the anonymity 00:02:21.720 --> 00:02:23.690 align:start position:0% that this system that's the anonymity and<00:02:22.200> second<00:02:22.379> is<00:02:23.160> the<00:02:23.280> notion<00:02:23.580> of 00:02:23.690 --> 00:02:23.700 align:start position:0% and second is the notion of 00:02:23.700 --> 00:02:25.130 align:start position:0% and second is the notion of confidentiality 00:02:25.130 --> 00:02:25.140 align:start position:0% confidentiality 00:02:25.140 --> 00:02:26.650 align:start position:0% confidentiality if<00:02:25.560> you're<00:02:25.739> going 00:02:26.650 --> 00:02:26.660 align:start position:0% if you're going 00:02:26.660 --> 00:02:29.690 align:start position:0% if you're going and<00:02:27.660> you<00:02:27.780> cannot<00:02:28.020> see<00:02:28.319> exactly<00:02:28.980> what<00:02:29.520> the 00:02:29.690 --> 00:02:29.700 align:start position:0% and you cannot see exactly what the 00:02:29.700 --> 00:02:32.270 align:start position:0% and you cannot see exactly what the trades<00:02:29.940> are<00:02:30.120> then<00:02:30.780> we<00:02:31.020> say<00:02:31.200> this<00:02:31.620> system<00:02:31.860> is 00:02:32.270 --> 00:02:32.280 align:start position:0% trades are then we say this system is 00:02:32.280 --> 00:02:34.070 align:start position:0% trades are then we say this system is confidential 00:02:34.070 --> 00:02:34.080 align:start position:0% confidential 00:02:34.080 --> 00:02:36.770 align:start position:0% confidential and<00:02:34.920> it<00:02:35.459> turns<00:02:35.700> out<00:02:35.760> confidentiality<00:02:36.540> is 00:02:36.770 --> 00:02:36.780 align:start position:0% and it turns out confidentiality is 00:02:36.780 --> 00:02:39.110 align:start position:0% and it turns out confidentiality is really<00:02:37.020> really<00:02:37.140> hard<00:02:37.379> on<00:02:37.739> ethereum<00:02:38.220> it's 00:02:39.110 --> 00:02:39.120 align:start position:0% really really hard on ethereum it's 00:02:39.120 --> 00:02:41.869 align:start position:0% really really hard on ethereum it's pretty<00:02:39.840> much<00:02:39.959> impossible<00:02:40.379> and<00:02:40.680> so<00:02:40.860> unless<00:02:41.640> you 00:02:41.869 --> 00:02:41.879 align:start position:0% pretty much impossible and so unless you 00:02:41.879 --> 00:02:43.550 align:start position:0% pretty much impossible and so unless you want<00:02:42.120> to<00:02:42.239> redesign<00:02:42.540> entirety<00:02:43.019> of<00:02:43.080> ethereum 00:02:43.550 --> 00:02:43.560 align:start position:0% want to redesign entirety of ethereum 00:02:43.560 --> 00:02:46.729 align:start position:0% want to redesign entirety of ethereum right<00:02:44.280> so 00:02:46.729 --> 00:02:46.739 align:start position:0% right so 00:02:46.739 --> 00:02:48.650 align:start position:0% right so um on<00:02:47.220> the<00:02:47.340> other<00:02:47.459> hand<00:02:47.640> anonymity<00:02:48.420> is 00:02:48.650 --> 00:02:48.660 align:start position:0% um on the other hand anonymity is 00:02:48.660 --> 00:02:51.530 align:start position:0% um on the other hand anonymity is actually<00:02:48.780> quite<00:02:48.959> easy<00:02:49.680> right<00:02:50.160> we<00:02:50.519> can<00:02:50.700> use<00:02:51.300> any 00:02:51.530 --> 00:02:51.540 align:start position:0% actually quite easy right we can use any 00:02:51.540 --> 00:02:56.330 align:start position:0% actually quite easy right we can use any mixer<00:02:52.099> to<00:02:53.099> mix<00:02:53.700> the<00:02:53.879> funds<00:02:54.239> and<00:02:55.080> every<00:02:55.739> single 00:02:56.330 --> 00:02:56.340 align:start position:0% mixer to mix the funds and every single 00:02:56.340 --> 00:02:58.550 align:start position:0% mixer to mix the funds and every single time<00:02:56.459> we<00:02:56.640> want<00:02:56.819> to<00:02:56.879> do<00:02:57.000> an<00:02:57.180> operation<00:02:57.599> however 00:02:58.550 --> 00:02:58.560 align:start position:0% time we want to do an operation however 00:02:58.560 --> 00:03:01.790 align:start position:0% time we want to do an operation however this<00:02:58.920> is<00:02:59.040> very<00:02:59.400> very<00:02:59.580> unusable<00:03:00.300> right 00:03:01.790 --> 00:03:01.800 align:start position:0% this is very very unusable right 00:03:01.800 --> 00:03:04.850 align:start position:0% this is very very unusable right to<00:03:02.040> the<00:03:02.280> extent<00:03:02.519> that<00:03:02.700> only<00:03:03.080> you<00:03:04.080> know 00:03:04.850 --> 00:03:04.860 align:start position:0% to the extent that only you know 00:03:04.860 --> 00:03:06.110 align:start position:0% to the extent that only you know we 00:03:06.110 --> 00:03:06.120 align:start position:0% we 00:03:06.120 --> 00:03:08.750 align:start position:0% we only<00:03:06.420> when<00:03:06.720> you<00:03:06.959> very<00:03:07.379> much<00:03:07.440> need<00:03:07.739> this<00:03:07.980> would 00:03:08.750 --> 00:03:08.760 align:start position:0% only when you very much need this would 00:03:08.760 --> 00:03:10.250 align:start position:0% only when you very much need this would you<00:03:08.879> do<00:03:09.060> such<00:03:09.180> a<00:03:09.360> thing<00:03:09.540> right<00:03:09.660> normal<00:03:09.900> users 00:03:10.250 --> 00:03:10.260 align:start position:0% you do such a thing right normal users 00:03:10.260 --> 00:03:12.550 align:start position:0% you do such a thing right normal users would<00:03:10.500> not<00:03:10.680> uh<00:03:11.519> do<00:03:11.700> this<00:03:11.879> for<00:03:12.060> every<00:03:12.239> single 00:03:12.550 --> 00:03:12.560 align:start position:0% would not uh do this for every single 00:03:12.560 --> 00:03:14.750 align:start position:0% would not uh do this for every single operation<00:03:13.560> that<00:03:13.739> would<00:03:13.920> do 00:03:14.750 --> 00:03:14.760 align:start position:0% operation that would do 00:03:14.760 --> 00:03:17.270 align:start position:0% operation that would do um D5<00:03:15.239> protocols 00:03:17.270 --> 00:03:17.280 align:start position:0% um D5 protocols 00:03:17.280 --> 00:03:20.149 align:start position:0% um D5 protocols um so<00:03:17.640> the<00:03:18.180> goal<00:03:18.420> is<00:03:18.480> really<00:03:18.659> to<00:03:18.900> make<00:03:19.200> this 00:03:20.149 --> 00:03:20.159 align:start position:0% um so the goal is really to make this 00:03:20.159 --> 00:03:22.850 align:start position:0% um so the goal is really to make this very<00:03:20.879> usable<00:03:21.239> right<00:03:21.480> how<00:03:21.720> do<00:03:21.840> we<00:03:21.959> get<00:03:22.140> usable 00:03:22.850 --> 00:03:22.860 align:start position:0% very usable right how do we get usable 00:03:22.860 --> 00:03:24.949 align:start position:0% very usable right how do we get usable anonymity<00:03:23.400> for<00:03:23.819> ethereum 00:03:24.949 --> 00:03:24.959 align:start position:0% anonymity for ethereum 00:03:24.959 --> 00:03:26.509 align:start position:0% anonymity for ethereum so 00:03:26.509 --> 00:03:26.519 align:start position:0% so 00:03:26.519 --> 00:03:27.410 align:start position:0% so um 00:03:27.410 --> 00:03:27.420 align:start position:0% um 00:03:27.420 --> 00:03:29.750 align:start position:0% um so<00:03:27.720> what<00:03:27.840> I<00:03:28.019> mean<00:03:28.140> by<00:03:28.319> again<00:03:29.099> so<00:03:29.459> just 00:03:29.750 --> 00:03:29.760 align:start position:0% so what I mean by again so just 00:03:29.760 --> 00:03:31.670 align:start position:0% so what I mean by again so just reiterate 00:03:31.670 --> 00:03:31.680 align:start position:0% reiterate 00:03:31.680 --> 00:03:33.470 align:start position:0% reiterate the<00:03:31.860> system<00:03:31.980> will<00:03:32.340> have<00:03:32.459> anonymity<00:03:32.940> if<00:03:33.239> you<00:03:33.360> go 00:03:33.470 --> 00:03:33.480 align:start position:0% the system will have anonymity if you go 00:03:33.480 --> 00:03:36.229 align:start position:0% the system will have anonymity if you go to<00:03:33.599> etherscan<00:03:34.200> and<00:03:34.680> you<00:03:34.800> cannot<00:03:35.099> see<00:03:35.340> uh<00:03:36.060> you 00:03:36.229 --> 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00:03:42.470 align:start position:0% can we get something like this with ethereum 00:03:42.470 --> 00:03:42.480 align:start position:0% ethereum 00:03:42.480 --> 00:03:43.789 align:start position:0% ethereum right 00:03:43.789 --> 00:03:43.799 align:start position:0% right 00:03:43.799 --> 00:03:44.570 align:start position:0% right um 00:03:44.570 --> 00:03:44.580 align:start position:0% um 00:03:44.580 --> 00:03:46.130 align:start position:0% um so 00:03:46.130 --> 00:03:46.140 align:start position:0% so 00:03:46.140 --> 00:03:48.050 align:start position:0% so and<00:03:46.680> you<00:03:47.099> know 00:03:48.050 --> 00:03:48.060 align:start position:0% and you know 00:03:48.060 --> 00:03:50.869 align:start position:0% and you know we<00:03:48.720> don't<00:03:48.900> we<00:03:49.440> don't<00:03:49.560> want<00:03:49.739> uh<00:03:50.099> privacy<00:03:50.459> uh<00:03:50.700> an 00:03:50.869 --> 00:03:50.879 align:start position:0% we don't we don't want uh privacy uh an 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know on ethereum<00:03:56.040> you<00:03:56.159> can<00:03:56.280> do<00:03:56.340> many<00:03:56.459> many<00:03:56.640> different 00:03:56.869 --> 00:03:56.879 align:start position:0% ethereum you can do many many different 00:03:56.879 --> 00:03:58.309 align:start position:0% ethereum you can do many many different things 00:03:58.309 --> 00:03:58.319 align:start position:0% things 00:03:58.319 --> 00:04:00.589 align:start position:0% things um<00:03:58.860> you<00:03:59.280> know<00:03:59.340> it's<00:03:59.519> it's<00:03:59.760> an<00:03:59.940> ecosystem<00:04:00.360> of 00:04:00.589 --> 00:04:00.599 align:start position:0% um you know it's it's an ecosystem of 00:04:00.599 --> 00:04:03.530 align:start position:0% um you know it's it's an ecosystem of the<00:04:00.720> apps<00:04:01.080> not<00:04:01.440> just<00:04:01.680> payments<00:04:02.519> not<00:04:02.879> just<00:04:03.120> you 00:04:03.530 --> 00:04:03.540 align:start position:0% the apps not just payments not just you 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standards right we<00:04:09.420> want<00:04:09.599> to<00:04:09.720> have<00:04:09.900> identity<00:04:10.319> by<00:04:10.620> default<00:04:10.980> for 00:04:11.330 --> 00:04:11.340 align:start position:0% we want to have identity by default for 00:04:11.340 --> 00:04:13.850 align:start position:0% we want to have identity by default for all<00:04:11.519> the<00:04:11.700> apps<00:04:12.060> so<00:04:12.540> that's<00:04:12.659> the<00:04:12.840> question 00:04:13.850 --> 00:04:13.860 align:start position:0% all the apps so that's the question 00:04:13.860 --> 00:04:14.869 align:start position:0% all the apps so that's the question um 00:04:14.869 --> 00:04:14.879 align:start position:0% um 00:04:14.879 --> 00:04:16.250 align:start position:0% um um<00:04:14.939> and<00:04:15.120> that's<00:04:15.420> also<00:04:15.720> what<00:04:15.840> I<00:04:15.959> mean<00:04:16.079> by<00:04:16.139> a 00:04:16.250 --> 00:04:16.260 align:start position:0% um and that's also what I mean by a 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what<00:04:25.560> are<00:04:25.680> the<00:04:25.740> current<00:04:25.860> solutions 00:04:26.210 --> 00:04:26.220 align:start position:0% look at what are the current solutions 00:04:26.220 --> 00:04:28.730 align:start position:0% look at what are the current solutions for<00:04:26.520> privacy<00:04:26.820> layers 00:04:28.730 --> 00:04:28.740 align:start position:0% for privacy layers 00:04:28.740 --> 00:04:30.290 align:start position:0% for privacy layers um if<00:04:29.220> you<00:04:29.340> look<00:04:29.460> at<00:04:29.520> the<00:04:29.580> inside<00:04:29.699> ecosystem 00:04:30.290 --> 00:04:30.300 align:start position:0% um if you look at the inside ecosystem 00:04:30.300 --> 00:04:32.629 align:start position:0% um if you look at the inside ecosystem we<00:04:30.780> have<00:04:30.960> many<00:04:31.380> many<00:04:31.560> different<00:04:31.800> UVM<00:04:32.280> chains 00:04:32.629 --> 00:04:32.639 align:start position:0% we have many many different UVM chains 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any any of them and you have many many 00:04:38.520 --> 00:04:41.150 align:start position:0% any any of them and you have many many uh<00:04:39.180> applications<00:04:39.600> sometimes<00:04:40.800> um<00:04:40.800> one<00:04:41.040> popular 00:04:41.150 --> 00:04:41.160 align:start position:0% uh applications sometimes um one popular 00:04:41.160 --> 00:04:43.070 align:start position:0% uh applications sometimes um one popular chain<00:04:41.520> sometimes<00:04:41.759> on<00:04:41.880> money<00:04:42.060> chains 00:04:43.070 --> 00:04:43.080 align:start position:0% chain sometimes on money chains 00:04:43.080 --> 00:04:45.170 align:start position:0% chain sometimes on money chains and<00:04:43.560> what<00:04:43.919> are<00:04:44.100> the<00:04:44.100> Privacy<00:04:44.400> Solutions<00:04:44.759> well 00:04:45.170 --> 00:04:45.180 align:start position:0% and what are the Privacy Solutions well 00:04:45.180 --> 00:04:47.150 align:start position:0% and what are the Privacy Solutions well we<00:04:45.660> have<00:04:45.840> some<00:04:45.960> mixers 00:04:47.150 --> 00:04:47.160 align:start position:0% we have some mixers 00:04:47.160 --> 00:04:49.070 align:start position:0% we have some mixers and<00:04:47.520> we'll<00:04:47.699> have<00:04:47.880> uh<00:04:48.540> you<00:04:48.840> know<00:04:48.960> some 00:04:49.070 --> 00:04:49.080 align:start position:0% and we'll have uh you know some 00:04:49.080 --> 00:04:51.110 align:start position:0% and we'll have uh you know some solutions<00:04:49.500> that<00:04:49.860> offer<00:04:50.280> some<00:04:50.400> type<00:04:50.580> of<00:04:50.699> D5 00:04:51.110 --> 00:04:51.120 align:start position:0% solutions that offer some type of D5 00:04:51.120 --> 00:04:52.249 align:start position:0% solutions that offer some type of D5 compatibility 00:04:52.249 --> 00:04:52.259 align:start position:0% compatibility 00:04:52.259 --> 00:04:54.650 align:start position:0% compatibility and<00:04:52.800> we<00:04:53.100> have<00:04:53.220> solutions<00:04:53.759> that<00:04:54.120> more<00:04:54.419> or<00:04:54.600> less 00:04:54.650 --> 00:04:54.660 align:start position:0% and we have solutions that more or less 00:04:54.660 --> 00:04:57.710 align:start position:0% and we have solutions that more or less act<00:04:55.020> as<00:04:55.380> a<00:04:55.560> layer<00:04:55.800> two<00:04:55.979> and<00:04:56.580> with<00:04:56.820> privacy<00:04:57.300> so 00:04:57.710 --> 00:04:57.720 align:start position:0% act as a layer two and with privacy so 00:04:57.720 --> 00:04:59.870 align:start position:0% act as a layer two and with privacy so for<00:04:57.840> instance<00:04:57.960> Aztec<00:04:58.620> and<00:04:58.860> zika<00:04:59.220> Opera<00:04:59.639> are 00:04:59.870 --> 00:04:59.880 align:start position:0% for instance Aztec and zika Opera are 00:04:59.880 --> 00:05:01.909 align:start position:0% for instance Aztec and zika Opera are good<00:05:00.060> examples<00:05:00.419> of<00:05:00.600> this<00:05:00.780> and<00:05:01.440> on<00:05:01.680> the<00:05:01.860> other 00:05:01.909 --> 00:05:01.919 align:start position:0% good examples of this and on the other 00:05:01.919 --> 00:05:05.030 align:start position:0% good examples of this and on the other hand<00:05:02.460> we<00:05:02.759> have<00:05:02.940> also<00:05:03.300> about<00:05:03.419> privacy<00:05:04.139> old<00:05:04.380> ones 00:05:05.030 --> 00:05:05.040 align:start position:0% hand we have also about privacy old ones 00:05:05.040 --> 00:05:06.770 align:start position:0% hand we have also about privacy old ones uh<00:05:05.699> and<00:05:05.820> the<00:05:05.940> examples<00:05:06.240> are<00:05:06.360> like<00:05:06.540> for 00:05:06.770 --> 00:05:06.780 align:start position:0% uh and the examples are like for 00:05:06.780 --> 00:05:09.189 align:start position:0% uh and the examples are like for instance<00:05:06.900> for<00:05:07.199> example<00:05:07.380> allele<00:05:08.040> uh<00:05:08.580> and<00:05:08.759> Manta 00:05:09.189 --> 00:05:09.199 align:start position:0% instance for example allele uh and Manta 00:05:09.199 --> 00:05:12.110 align:start position:0% instance for example allele uh and Manta where<00:05:10.199> uh<00:05:10.860> you<00:05:11.040> know<00:05:11.160> it's<00:05:11.520> a<00:05:11.699> separate<00:05:11.940> chain 00:05:12.110 --> 00:05:12.120 align:start position:0% where uh you know it's a separate chain 00:05:12.120 --> 00:05:14.270 align:start position:0% where uh you know it's a separate chain uh<00:05:12.780> it<00:05:12.900> might<00:05:13.020> be<00:05:13.139> a<00:05:13.259> different<00:05:13.380> ecosystem<00:05:13.800> and 00:05:14.270 --> 00:05:14.280 align:start position:0% uh it might be a different ecosystem and 00:05:14.280 --> 00:05:17.210 align:start position:0% uh it might be a different ecosystem and you<00:05:14.400> have<00:05:14.520> a<00:05:14.580> bootstrap<00:05:14.940> a<00:05:15.120> lot<00:05:15.240> of<00:05:15.300> liquidity 00:05:17.210 --> 00:05:17.220 align:start position:0% you have a bootstrap a lot of liquidity 00:05:17.220 --> 00:05:19.850 align:start position:0% you have a bootstrap a lot of liquidity and<00:05:17.820> so<00:05:18.120> it<00:05:18.180> turns<00:05:18.479> out<00:05:18.540> you<00:05:18.840> know<00:05:18.900> there's<00:05:19.080> no 00:05:19.850 --> 00:05:19.860 align:start position:0% and so it turns out you know there's no 00:05:19.860 --> 00:05:21.590 align:start position:0% and so it turns out you know there's no single<00:05:20.400> solution<00:05:20.639> that<00:05:20.880> works<00:05:21.120> with<00:05:21.180> all<00:05:21.419> the 00:05:21.590 --> 00:05:21.600 align:start position:0% single solution that works with all the 00:05:21.600 --> 00:05:23.390 align:start position:0% single solution that works with all the D<00:05:21.720> apps<00:05:22.080> so<00:05:22.440> if<00:05:22.560> you<00:05:22.620> look<00:05:22.740> at<00:05:22.919> what<00:05:23.220> these 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compatible<00:05:37.560> with<00:05:37.740> every<00:05:37.860> single<00:05:38.039> D<00:05:38.220> app<00:05:38.460> right 00:05:39.110 --> 00:05:39.120 align:start position:0% compatible with every single D app right 00:05:39.120 --> 00:05:40.850 align:start position:0% compatible with every single D app right so<00:05:39.360> for<00:05:39.479> as<00:05:39.660> that<00:05:39.900> connects<00:05:40.259> you<00:05:40.680> need<00:05:40.800> to 00:05:40.850 --> 00:05:40.860 align:start position:0% so for as that connects you need to 00:05:40.860 --> 00:05:43.610 align:start position:0% so for as that connects you need to write<00:05:41.160> this<00:05:41.400> custom<00:05:41.759> Bridge<00:05:42.060> contract<00:05:42.600> and<00:05:43.440> in 00:05:43.610 --> 00:05:43.620 align:start position:0% write this custom Bridge contract and in 00:05:43.620 --> 00:05:45.170 align:start position:0% write this custom Bridge contract and in fact<00:05:43.740> you<00:05:43.919> know<00:05:43.979> that's<00:05:44.220> basically 00:05:45.170 --> 00:05:45.180 align:start position:0% fact you know that's basically 00:05:45.180 --> 00:05:46.969 align:start position:0% fact you know that's basically if<00:05:45.720> you<00:05:45.840> go<00:05:46.020> to<00:05:46.080> every<00:05:46.380> single<00:05:46.620> Aztec 00:05:46.969 --> 00:05:46.979 align:start position:0% if you go to every single Aztec 00:05:46.979 --> 00:05:48.350 align:start position:0% if you go to every single Aztec hackathon<00:05:47.460> like<00:05:47.639> that's<00:05:47.820> what<00:05:48.000> people<00:05:48.180> do 00:05:48.350 --> 00:05:48.360 align:start position:0% hackathon like that's what people do 00:05:48.360 --> 00:05:49.730 align:start position:0% hackathon like that's what people do with<00:05:48.479> you<00:05:48.660> know<00:05:48.720> they<00:05:48.960> build<00:05:49.139> Bridge<00:05:49.380> contract 00:05:49.730 --> 00:05:49.740 align:start position:0% with you know they build Bridge contract 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position:0% want this to support every single D5 projects<00:05:54.960> out<00:05:55.080> there 00:05:56.029 --> 00:05:56.039 align:start position:0% projects out there 00:05:56.039 --> 00:05:59.210 align:start position:0% projects out there so<00:05:56.780> uh<00:05:57.780> you<00:05:58.139> know<00:05:58.199> this<00:05:58.320> is<00:05:58.440> observation<00:05:58.919> we 00:05:59.210 --> 00:05:59.220 align:start position:0% so uh you know this is observation we 00:05:59.220 --> 00:06:01.730 align:start position:0% so uh you know this is observation we don't<00:05:59.340> have<00:05:59.460> a<00:05:59.580> private<00:05:59.880> solution<00:06:00.180> that<00:06:01.680> um 00:06:01.730 --> 00:06:01.740 align:start position:0% don't have a private solution that um 00:06:01.740 --> 00:06:03.710 align:start position:0% don't have a private solution that um you<00:06:01.979> know<00:06:02.039> it's<00:06:02.100> default<00:06:02.520> and<00:06:03.120> really<00:06:03.300> usable 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what what I mean by privacy later and what<00:06:11.699> we<00:06:12.000> should<00:06:12.120> get<00:06:12.360> in<00:06:12.539> this<00:06:12.660> previous 00:06:12.830 --> 00:06:12.840 align:start position:0% what we should get in this previous 00:06:12.840 --> 00:06:14.390 align:start position:0% what we should get in this previous layer<00:06:13.199> so<00:06:13.560> first<00:06:13.680> of<00:06:13.860> all<00:06:13.919> it<00:06:14.100> should<00:06:14.280> be 00:06:14.390 --> 00:06:14.400 align:start position:0% layer so first of all it should be 00:06:14.400 --> 00:06:15.830 align:start position:0% layer so first of all it should be feature<00:06:14.820> complete 00:06:15.830 --> 00:06:15.840 align:start position:0% feature complete 00:06:15.840 --> 00:06:18.650 align:start position:0% feature complete okay<00:06:16.320> so<00:06:17.100> uh<00:06:17.759> so<00:06:18.000> what<00:06:18.120> do<00:06:18.300> you<00:06:18.300> mean<00:06:18.419> by<00:06:18.539> that 00:06:18.650 --> 00:06:18.660 align:start position:0% okay so uh so what do you mean by that 00:06:18.660 --> 00:06:20.450 align:start position:0% okay so uh so what do you mean by that you<00:06:19.139> should<00:06:19.259> have<00:06:19.440> two<00:06:19.560> features 00:06:20.450 --> 00:06:20.460 align:start position:0% you should have two features 00:06:20.460 --> 00:06:22.249 align:start position:0% you should have two features you<00:06:20.699> should<00:06:20.880> be<00:06:20.940> able<00:06:21.060> to<00:06:21.180> use<00:06:21.360> this<00:06:22.020> you<00:06:22.199> know 00:06:22.249 --> 00:06:22.259 align:start position:0% you should be able to use this you know 00:06:22.259 --> 00:06:24.650 align:start position:0% you should be able to use this you know privacy<00:06:22.680> layer<00:06:22.979> exactly<00:06:23.759> the<00:06:23.880> same<00:06:24.060> way<00:06:24.240> you 00:06:24.650 --> 00:06:24.660 align:start position:0% privacy layer exactly the same way you 00:06:24.660 --> 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that<00:06:32.639> you<00:06:33.180> want 00:06:34.550 --> 00:06:34.560 align:start position:0% solution or any the app that you want 00:06:34.560 --> 00:06:35.930 align:start position:0% solution or any the app that you want um<00:06:34.680> any 00:06:35.930 --> 00:06:35.940 align:start position:0% um any 00:06:35.940 --> 00:06:37.610 align:start position:0% um any and<00:06:36.300> ideally<00:06:36.720> you<00:06:37.020> know<00:06:37.139> with<00:06:37.259> basically<00:06:37.500> the 00:06:37.610 --> 00:06:37.620 align:start position:0% and ideally you know with basically the 00:06:37.620 --> 00:06:38.990 align:start position:0% and ideally you know with basically the same<00:06:37.800> interface<00:06:38.100> right<00:06:38.280> you<00:06:38.460> go<00:06:38.580> to<00:06:38.639> you<00:06:38.819> go 00:06:38.990 --> 00:06:39.000 align:start position:0% same interface right you go to you go 00:06:39.000 --> 00:06:40.430 align:start position:0% same interface right you go to you go into<00:06:39.060> a<00:06:39.240> Dr<00:06:39.300> front<00:06:39.660> end<00:06:39.840> you<00:06:40.080> click<00:06:40.319> some 00:06:40.430 --> 00:06:40.440 align:start position:0% into a Dr front end you click some 00:06:40.440 --> 00:06:42.290 align:start position:0% into a Dr front end you click some buttons<00:06:40.860> uh<00:06:41.460> and<00:06:41.580> you<00:06:41.699> you<00:06:41.819> know<00:06:41.940> you<00:06:42.060> do<00:06:42.180> a 00:06:42.290 --> 00:06:42.300 align:start position:0% buttons uh and you you know you do a 00:06:42.300 --> 00:06:44.629 align:start position:0% buttons uh and you you know you do a swap<00:06:43.020> and<00:06:43.500> second 00:06:44.629 --> 00:06:44.639 align:start position:0% swap and second 00:06:44.639 --> 00:06:46.790 align:start position:0% swap and second um<00:06:44.699> you<00:06:45.000> should<00:06:45.120> be<00:06:45.240> able<00:06:45.300> to<00:06:45.419> disclose<00:06:46.199> what 00:06:46.790 --> 00:06:46.800 align:start position:0% um you should be able to disclose what 00:06:46.800 --> 00:06:49.249 align:start position:0% um you should be able to disclose what you<00:06:46.979> have<00:06:47.100> done<00:06:47.759> okay<00:06:48.180> so<00:06:48.360> if<00:06:48.539> you<00:06:48.600> look<00:06:48.720> at<00:06:48.900> you 00:06:49.249 --> 00:06:49.259 align:start position:0% you have done okay so if you look at you 00:06:49.259 --> 00:06:50.930 align:start position:0% you have done okay so if you look at you know<00:06:49.380> existing<00:06:49.740> privacy<00:06:50.100> Solutions<00:06:50.460> it's 00:06:50.930 --> 00:06:50.940 align:start position:0% know existing privacy Solutions it's 00:06:50.940 --> 00:06:53.090 align:start position:0% know existing privacy Solutions it's actually<00:06:51.360> really<00:06:51.660> hard<00:06:51.900> to<00:06:52.259> tell<00:06:52.919> someone 00:06:53.090 --> 00:06:53.100 align:start position:0% actually really hard to tell someone 00:06:53.100 --> 00:06:54.650 align:start position:0% actually really hard to tell someone else<00:06:53.340> that<00:06:53.520> you<00:06:53.639> did<00:06:53.759> something 00:06:54.650 --> 00:06:54.660 align:start position:0% else that you did something 00:06:54.660 --> 00:06:55.969 align:start position:0% else that you did something um<00:06:54.720> you<00:06:54.900> know<00:06:55.020> the<00:06:55.080> interface<00:06:55.440> is<00:06:55.620> not 00:06:55.969 --> 00:06:55.979 align:start position:0% um you know the interface is not 00:06:55.979 --> 00:06:57.950 align:start position:0% um you know the interface is not intuitive<00:06:56.400> whereas<00:06:57.180> right<00:06:57.419> now<00:06:57.539> for<00:06:57.840> the 00:06:57.950 --> 00:06:57.960 align:start position:0% intuitive whereas right now for the 00:06:57.960 --> 00:06:59.689 align:start position:0% intuitive whereas right now for the transparent<00:06:58.380> solution<00:06:58.680> if<00:06:59.160> you<00:06:59.280> give<00:06:59.400> someone 00:06:59.689 --> 00:06:59.699 align:start position:0% transparent solution if you give someone 00:06:59.699 --> 00:07:01.790 align:start position:0% transparent solution if you give someone your<00:07:00.000> address<00:07:00.180> they<00:07:00.900> know<00:07:01.139> you<00:07:01.560> know<00:07:01.620> they<00:07:01.680> can 00:07:01.790 --> 00:07:01.800 align:start position:0% your address they know you know they can 00:07:01.800 --> 00:07:03.770 align:start position:0% your address they know you know they can see<00:07:01.979> entire<00:07:02.220> history<00:07:02.400> right<00:07:02.759> so<00:07:03.180> we<00:07:03.300> want<00:07:03.479> some 00:07:03.770 --> 00:07:03.780 align:start position:0% see entire history right so we want some 00:07:03.780 --> 00:07:05.870 align:start position:0% see entire history right so we want some type<00:07:03.900> of<00:07:04.020> form<00:07:04.259> of<00:07:04.440> information<00:07:05.039> disclosure 00:07:05.870 --> 00:07:05.880 align:start position:0% type of form of information disclosure 00:07:05.880 --> 00:07:08.090 align:start position:0% type of form of information disclosure right<00:07:06.120> so<00:07:06.300> if<00:07:06.479> you<00:07:06.660> own<00:07:06.960> set<00:07:07.259> of<00:07:07.380> nfts<00:07:07.860> and<00:07:07.979> you 00:07:08.090 --> 00:07:08.100 align:start position:0% right so if you own set of nfts and you 00:07:08.100 --> 00:07:09.890 align:start position:0% right so if you own set of nfts and you want<00:07:08.160> to<00:07:08.220> prove<00:07:08.400> to<00:07:08.520> your<00:07:08.639> friends<00:07:08.819> that<00:07:09.600> you 00:07:09.890 --> 00:07:09.900 align:start position:0% want to prove to your friends that you 00:07:09.900 --> 00:07:12.110 align:start position:0% want to prove to your friends that you know<00:07:09.960> I<00:07:10.139> own<00:07:10.259> this<00:07:10.440> at<00:07:10.620> nfts<00:07:11.220> and<00:07:11.639> I<00:07:11.759> authorize 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okay<00:07:18.300> and<00:07:19.199> the<00:07:19.500> second<00:07:19.620> thing<00:07:20.280> you<00:07:20.819> should 00:07:20.990 --> 00:07:21.000 align:start position:0% um okay and the second thing you should 00:07:21.000 --> 00:07:22.850 align:start position:0% um okay and the second thing you should you<00:07:21.360> should<00:07:21.539> do<00:07:21.660> is<00:07:21.840> be<00:07:22.020> backwards<00:07:22.500> compatible 00:07:22.850 --> 00:07:22.860 align:start position:0% you should do is be backwards compatible 00:07:22.860 --> 00:07:24.170 align:start position:0% you should do is be backwards compatible right<00:07:23.280> because<00:07:23.460> we'll<00:07:23.639> have<00:07:23.819> all<00:07:24.000> this 00:07:24.170 --> 00:07:24.180 align:start position:0% right because we'll have all this 00:07:24.180 --> 00:07:26.029 align:start position:0% right because we'll have all this amazing<00:07:24.599> ecosystem<00:07:25.020> out<00:07:25.380> there<00:07:25.500> obviously 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completely<00:07:31.199> brand<00:07:31.620> new<00:07:31.800> like<00:07:32.099> we<00:07:32.280> want<00:07:32.520> to 00:07:32.809 --> 00:07:32.819 align:start position:0% completely brand new like we want to 00:07:32.819 --> 00:07:35.510 align:start position:0% completely brand new like we want to reduce<00:07:33.060> the<00:07:33.360> existing<00:07:33.720> ecosystem<00:07:34.139> so<00:07:35.099> the 00:07:35.510 --> 00:07:35.520 align:start position:0% reduce the existing ecosystem so the 00:07:35.520 --> 00:07:37.969 align:start position:0% reduce the existing ecosystem so the ecosystem<00:07:35.880> should<00:07:36.240> be<00:07:36.300> to<00:07:36.599> support<00:07:36.960> your<00:07:37.500> 220 00:07:37.969 --> 00:07:37.979 align:start position:0% ecosystem should be to support your 220 00:07:37.979 --> 00:07:41.870 align:start position:0% ecosystem should be to support your 220 721<00:07:38.699> 1155<00:07:39.599> standards 00:07:41.870 --> 00:07:41.880 align:start position:0% 721 1155 standards 00:07:41.880 --> 00:07:43.969 align:start position:0% 721 1155 standards um<00:07:41.940> and<00:07:42.599> you<00:07:42.780> know<00:07:42.900> you<00:07:43.080> should<00:07:43.259> more<00:07:43.860> or<00:07:43.919> less 00:07:43.969 --> 00:07:43.979 align:start position:0% um and you know you should more or less 00:07:43.979 --> 00:07:46.670 align:start position:0% um and you know you should more or less work<00:07:44.280> with<00:07:44.460> existing<00:07:45.120> applications<00:07:45.599> right 00:07:46.670 --> 00:07:46.680 align:start position:0% work with existing applications right 00:07:46.680 --> 00:07:49.189 align:start position:0% work with existing applications right and<00:07:47.280> finally<00:07:47.520> most<00:07:48.060> importantly<00:07:48.479> you<00:07:49.020> should 00:07:49.189 --> 00:07:49.199 align:start position:0% and finally most importantly you should 00:07:49.199 --> 00:07:51.710 align:start position:0% and finally most importantly you should actually<00:07:49.560> offer<00:07:50.220> some<00:07:50.400> from<00:07:50.639> a<00:07:50.819> privacy<00:07:51.180> which 00:07:51.710 --> 00:07:51.720 align:start position:0% actually offer some from a privacy which 00:07:51.720 --> 00:07:54.469 align:start position:0% actually offer some from a privacy which in<00:07:51.900> this<00:07:52.020> case<00:07:52.139> anonymity<00:07:52.680> right<00:07:53.520> so<00:07:53.880> recall 00:07:54.469 --> 00:07:54.479 align:start position:0% in this case anonymity right so recall 00:07:54.479 --> 00:07:56.150 align:start position:0% in this case anonymity right so recall back<00:07:54.660> to<00:07:54.780> the<00:07:54.840> previous<00:07:54.960> slides 00:07:56.150 --> 00:07:56.160 align:start position:0% back to the previous slides 00:07:56.160 --> 00:07:58.010 align:start position:0% back to the previous slides um<00:07:56.220> you<00:07:56.400> will<00:07:56.580> be<00:07:56.699> the<00:07:57.060> form<00:07:57.300> you<00:07:57.720> know<00:07:57.840> use 00:07:58.010 --> 00:07:58.020 align:start position:0% um you will be the form you know use 00:07:58.020 --> 00:08:01.070 align:start position:0% um you will be the form you know use this<00:07:58.259> thing<00:07:58.520> and<00:07:59.520> everybody<00:08:00.300> will<00:08:00.660> use<00:08:00.840> this 00:08:01.070 --> 00:08:01.080 align:start position:0% this thing and everybody will use this 00:08:01.080 --> 00:08:02.450 align:start position:0% this thing and everybody will use this privacy<00:08:01.440> layer<00:08:01.740> and<00:08:01.979> you're<00:08:02.099> going<00:08:02.220> to<00:08:02.340> either 00:08:02.450 --> 00:08:02.460 align:start position:0% privacy layer and you're going to either 00:08:02.460 --> 00:08:05.510 align:start position:0% privacy layer and you're going to either scan<00:08:02.880> no<00:08:03.419> one<00:08:03.599> can<00:08:03.780> figure<00:08:03.960> out<00:08:04.139> who<00:08:05.039> did<00:08:05.280> what 00:08:05.510 --> 00:08:05.520 align:start position:0% scan no one can figure out who did what 00:08:05.520 --> 00:08:09.170 align:start position:0% scan no one can figure out who did what action<00:08:05.819> right<00:08:06.240> so<00:08:07.020> the<00:08:07.319> question<00:08:07.699> for<00:08:08.699> my<00:08:09.060> talk 00:08:09.170 --> 00:08:09.180 align:start position:0% action right so the question for my talk 00:08:09.180 --> 00:08:11.270 align:start position:0% action right so the question for my talk is<00:08:09.479> you<00:08:10.139> know<00:08:10.199> can<00:08:10.380> we<00:08:10.560> build<00:08:10.680> such<00:08:10.919> a<00:08:11.160> thing 00:08:11.270 --> 00:08:11.280 align:start position:0% is you know can we build such a thing 00:08:11.280 --> 00:08:13.309 align:start position:0% is you know can we build such a thing and<00:08:11.940> actually<00:08:12.180> the<00:08:12.419> goal<00:08:12.660> of<00:08:12.660> my<00:08:12.840> talks<00:08:13.199> to 00:08:13.309 --> 00:08:13.319 align:start position:0% and actually the goal of my talks to 00:08:13.319 --> 00:08:15.230 align:start position:0% and actually the goal of my talks to convince<00:08:13.680> you<00:08:13.800> that 00:08:15.230 --> 00:08:15.240 align:start position:0% convince you that 00:08:15.240 --> 00:08:17.809 align:start position:0% convince you that we<00:08:15.720> could<00:08:15.840> build<00:08:16.319> such<00:08:16.680> a<00:08:17.039> privacy<00:08:17.400> layer<00:08:17.699> for 00:08:17.809 --> 00:08:17.819 align:start position:0% we could build such a privacy layer for 00:08:17.819 --> 00:08:19.369 align:start position:0% we could build such a privacy layer for ethereum<00:08:18.240> today 00:08:19.369 --> 00:08:19.379 align:start position:0% ethereum today 00:08:19.379 --> 00:08:21.170 align:start position:0% ethereum today and<00:08:19.860> we're<00:08:20.039> building<00:08:20.220> one 00:08:21.170 --> 00:08:21.180 align:start position:0% and we're building one 00:08:21.180 --> 00:08:22.550 align:start position:0% and we're building one okay 00:08:22.550 --> 00:08:22.560 align:start position:0% okay 00:08:22.560 --> 00:08:23.689 align:start position:0% okay so 00:08:23.689 --> 00:08:23.699 align:start position:0% so 00:08:23.699 --> 00:08:25.550 align:start position:0% so so<00:08:23.940> let's<00:08:24.180> look<00:08:24.360> at<00:08:24.479> how<00:08:25.080> we're<00:08:25.199> going<00:08:25.319> to<00:08:25.379> do 00:08:25.550 --> 00:08:25.560 align:start position:0% so let's look at how we're going to do 00:08:25.560 --> 00:08:26.990 align:start position:0% so let's look at how we're going to do this<00:08:25.680> right<00:08:25.979> so 00:08:26.990 --> 00:08:27.000 align:start position:0% this right so 00:08:27.000 --> 00:08:27.890 align:start position:0% this right so um 00:08:27.890 --> 00:08:27.900 align:start position:0% um 00:08:27.900 --> 00:08:30.170 align:start position:0% um so<00:08:28.379> let's<00:08:29.099> look<00:08:29.280> at<00:08:29.400> this<00:08:29.520> you<00:08:29.699> know<00:08:29.759> set<00:08:30.000> of 00:08:30.170 --> 00:08:30.180 align:start position:0% so let's look at this you know set of 00:08:30.180 --> 00:08:31.430 align:start position:0% so let's look at this you know set of three<00:08:30.300> things<00:08:30.479> we<00:08:30.720> want<00:08:30.900> for<00:08:31.020> our<00:08:31.139> privacy 00:08:31.430 --> 00:08:31.440 align:start position:0% three things we want for our privacy 00:08:31.440 --> 00:08:33.829 align:start position:0% three things we want for our privacy layer<00:08:32.159> and<00:08:32.640> it<00:08:32.760> you<00:08:33.120> know<00:08:33.240> if<00:08:33.360> you<00:08:33.539> kind<00:08:33.719> of 00:08:33.829 --> 00:08:33.839 align:start position:0% layer and it you know if you kind of 00:08:33.839 --> 00:08:37.250 align:start position:0% layer and it you know if you kind of categorize<00:08:34.320> them<00:08:34.560> the<00:08:34.860> first<00:08:35.120> uh<00:08:36.120> two<00:08:36.360> you 00:08:37.250 --> 00:08:37.260 align:start position:0% categorize them the first uh two you 00:08:37.260 --> 00:08:39.350 align:start position:0% categorize them the first uh two you know<00:08:37.320> two<00:08:37.500> features<00:08:37.860> are<00:08:38.520> basically<00:08:38.940> what<00:08:39.180> the 00:08:39.350 --> 00:08:39.360 align:start position:0% know two features are basically what the 00:08:39.360 --> 00:08:40.909 align:start position:0% know two features are basically what the smart<00:08:39.539> contract<00:08:39.899> wallet<00:08:40.260> gives<00:08:40.440> you<00:08:40.560> right<00:08:40.800> so 00:08:40.909 --> 00:08:40.919 align:start position:0% smart contract wallet gives you right so 00:08:40.919 --> 00:08:42.170 align:start position:0% smart contract wallet gives you right so if<00:08:41.099> you're<00:08:41.219> familiar<00:08:41.520> with<00:08:41.640> their<00:08:41.880> kind<00:08:42.060> of 00:08:42.170 --> 00:08:42.180 align:start position:0% if you're familiar with their kind of 00:08:42.180 --> 00:08:44.029 align:start position:0% if you're familiar with their kind of abstraction<00:08:42.599> or<00:08:43.140> you<00:08:43.320> know<00:08:43.440> any<00:08:43.620> type<00:08:43.860> of 00:08:44.029 --> 00:08:44.039 align:start position:0% abstraction or you know any type of 00:08:44.039 --> 00:08:46.310 align:start position:0% abstraction or you know any type of smart<00:08:44.700> contract<00:08:45.120> wallet<00:08:45.480> this<00:08:45.959> is<00:08:46.020> the<00:08:46.200> two 00:08:46.310 --> 00:08:46.320 align:start position:0% smart contract wallet this is the two 00:08:46.320 --> 00:08:47.389 align:start position:0% smart contract wallet this is the two things<00:08:46.440> that<00:08:46.620> this<00:08:46.740> should<00:08:46.920> offer<00:08:47.100> you<00:08:47.220> right 00:08:47.389 --> 00:08:47.399 align:start position:0% things that this should offer you right 00:08:47.399 --> 00:08:48.530 align:start position:0% things that this should offer you right you<00:08:47.580> should<00:08:47.700> you<00:08:47.880> should<00:08:48.000> be<00:08:48.120> able<00:08:48.180> to<00:08:48.300> use<00:08:48.420> it 00:08:48.530 --> 00:08:48.540 align:start position:0% you should you should be able to use it 00:08:48.540 --> 00:08:50.870 align:start position:0% you should you should be able to use it on<00:08:48.720> any<00:08:48.899> single<00:08:49.519> application<00:08:50.519> and<00:08:50.760> it's 00:08:50.870 --> 00:08:50.880 align:start position:0% on any single application and it's 00:08:50.880 --> 00:08:52.910 align:start position:0% on any single application and it's backwards<00:08:51.240> compatible<00:08:51.660> and<00:08:52.260> the<00:08:52.740> second 00:08:52.910 --> 00:08:52.920 align:start position:0% backwards compatible and the second 00:08:52.920 --> 00:08:54.949 align:start position:0% backwards compatible and the second thing<00:08:53.279> second<00:08:53.640> feature<00:08:54.300> that's<00:08:54.600> you<00:08:54.899> know 00:08:54.949 --> 00:08:54.959 align:start position:0% thing second feature that's you know 00:08:54.959 --> 00:08:56.449 align:start position:0% thing second feature that's you know it's<00:08:55.260> really<00:08:55.440> what<00:08:55.680> a<00:08:55.800> mixer<00:08:56.040> offers<00:08:56.279> you 00:08:56.449 --> 00:08:56.459 align:start position:0% it's really what a mixer offers you 00:08:56.459 --> 00:08:59.150 align:start position:0% it's really what a mixer offers you right<00:08:56.580> what<00:08:56.880> a<00:08:57.120> short<00:08:57.899> approve<00:08:58.320> gives<00:08:58.500> you<00:08:58.560> so 00:08:59.150 --> 00:08:59.160 align:start position:0% right what a short approve gives you so 00:08:59.160 --> 00:09:00.590 align:start position:0% right what a short approve gives you so I<00:08:59.279> realized<00:08:59.640> you<00:08:59.820> know<00:08:59.880> some<00:09:00.240> of<00:09:00.300> you<00:09:00.420> might 00:09:00.590 --> 00:09:00.600 align:start position:0% I realized you know some of you might 00:09:00.600 --> 00:09:02.210 align:start position:0% I realized you know some of you might not<00:09:00.720> know<00:09:00.899> what<00:09:01.080> a<00:09:01.260> sort<00:09:01.440> of<00:09:01.560> pull<00:09:01.740> or<00:09:01.980> you<00:09:02.100> know 00:09:02.210 --> 00:09:02.220 align:start position:0% not know what a sort of pull or you know 00:09:02.220 --> 00:09:04.670 align:start position:0% not know what a sort of pull or you know mixer<00:09:02.519> is<00:09:02.760> so<00:09:03.180> let<00:09:03.360> me<00:09:03.540> just<00:09:03.720> reintroduce<00:09:04.500> the 00:09:04.670 --> 00:09:04.680 align:start position:0% mixer is so let me just reintroduce the 00:09:04.680 --> 00:09:06.350 align:start position:0% mixer is so let me just reintroduce the two<00:09:04.800> two<00:09:04.860> concepts<00:09:05.519> so<00:09:05.760> first<00:09:05.880> of<00:09:06.000> all<00:09:06.060> what<00:09:06.240> do 00:09:06.350 --> 00:09:06.360 align:start position:0% two two concepts so first of all what do 00:09:06.360 --> 00:09:07.910 align:start position:0% two two concepts so first of all what do you<00:09:06.420> show<00:09:06.540> that<00:09:06.720> pool<00:09:06.899> a<00:09:07.440> shielded<00:09:07.800> pool 00:09:07.910 --> 00:09:07.920 align:start position:0% you show that pool a shielded pool 00:09:07.920 --> 00:09:09.769 align:start position:0% you show that pool a shielded pool allows<00:09:08.399> you<00:09:08.519> to<00:09:08.760> unlink<00:09:09.240> deposits 00:09:09.769 --> 00:09:09.779 align:start position:0% allows you to unlink deposits 00:09:09.779 --> 00:09:11.389 align:start position:0% allows you to unlink deposits withdrawals<00:09:10.320> right<00:09:10.440> so<00:09:10.620> this<00:09:10.800> is<00:09:10.920> the<00:09:11.160> most 00:09:11.389 --> 00:09:11.399 align:start position:0% withdrawals right so this is the most 00:09:11.399 --> 00:09:14.090 align:start position:0% withdrawals right so this is the most basic<00:09:11.940> form<00:09:12.120> of<00:09:12.240> privacy<00:09:12.540> solution<00:09:12.839> that<00:09:13.800> you 00:09:14.090 --> 00:09:14.100 align:start position:0% basic form of privacy solution that you 00:09:14.100 --> 00:09:15.650 align:start position:0% basic form of privacy solution that you know<00:09:14.160> we've<00:09:14.399> had<00:09:14.580> since<00:09:14.940> the<00:09:15.180> Bitcoin<00:09:15.480> days 00:09:15.650 --> 00:09:15.660 align:start position:0% know we've had since the Bitcoin days 00:09:15.660 --> 00:09:17.990 align:start position:0% know we've had since the Bitcoin days right<00:09:16.140> so<00:09:16.380> it<00:09:16.620> allows<00:09:16.980> you<00:09:17.100> any<00:09:17.519> user<00:09:17.880> to 00:09:17.990 --> 00:09:18.000 align:start position:0% right so it allows you any user to 00:09:18.000 --> 00:09:19.790 align:start position:0% right so it allows you any user to deposit<00:09:18.420> and<00:09:18.779> later<00:09:18.959> on<00:09:19.140> you<00:09:19.440> should<00:09:19.560> be<00:09:19.680> to 00:09:19.790 --> 00:09:19.800 align:start position:0% deposit and later on you should be to 00:09:19.800 --> 00:09:21.650 align:start position:0% deposit and later on you should be to withdrawal<00:09:20.220> but<00:09:20.760> by<00:09:21.000> the<00:09:21.180> time<00:09:21.300> that<00:09:21.480> you 00:09:21.650 --> 00:09:21.660 align:start position:0% withdrawal but by the time that you 00:09:21.660 --> 00:09:24.530 align:start position:0% withdrawal but by the time that you withdraw<00:09:22.140> nobody<00:09:23.040> else<00:09:23.220> should<00:09:23.399> know<00:09:23.640> uh 00:09:24.530 --> 00:09:24.540 align:start position:0% withdraw nobody else should know uh 00:09:24.540 --> 00:09:25.970 align:start position:0% withdraw nobody else should know uh who's<00:09:24.779> actually<00:09:25.019> withdrawing<00:09:25.500> right<00:09:25.680> so<00:09:25.800> you 00:09:25.970 --> 00:09:25.980 align:start position:0% who's actually withdrawing right so you 00:09:25.980 --> 00:09:28.190 align:start position:0% who's actually withdrawing right so you withdraw<00:09:26.339> to<00:09:26.459> a<00:09:26.580> fresh<00:09:26.760> UAE<00:09:27.300> address 00:09:28.190 --> 00:09:28.200 align:start position:0% withdraw to a fresh UAE address 00:09:28.200 --> 00:09:31.430 align:start position:0% withdraw to a fresh UAE address so<00:09:28.680> that's<00:09:28.860> the<00:09:29.100> no<00:09:29.220> geometry<00:09:29.459> pool<00:09:29.940> or<00:09:30.600> mixer 00:09:31.430 --> 00:09:31.440 align:start position:0% so that's the no geometry pool or mixer 00:09:31.440 --> 00:09:35.410 align:start position:0% so that's the no geometry pool or mixer and<00:09:31.920> second<00:09:32.180> uh<00:09:33.180> let's<00:09:33.360> recall<00:09:33.660> Notions<00:09:34.160> uh 00:09:35.410 --> 00:09:35.420 align:start position:0% and second uh let's recall Notions uh 00:09:35.420 --> 00:09:39.710 align:start position:0% and second uh let's recall Notions uh actually<00:09:36.420> this<00:09:36.959> should<00:09:37.140> say<00:09:37.880> wallet<00:09:38.880> uh<00:09:39.540> let's 00:09:39.710 --> 00:09:39.720 align:start position:0% actually this should say wallet uh let's 00:09:39.720 --> 00:09:41.329 align:start position:0% actually this should say wallet uh let's recall<00:09:40.140> those<00:09:40.200> of<00:09:40.440> a<00:09:40.560> contract<00:09:40.740> what<00:09:40.920> is<00:09:41.279> your 00:09:41.329 --> 00:09:41.339 align:start position:0% recall those of a contract what is your 00:09:41.339 --> 00:09:43.190 align:start position:0% recall those of a contract what is your contract<00:09:41.580> wallet<00:09:42.000> well<00:09:42.540> for<00:09:42.779> a<00:09:42.899> contract 00:09:43.190 --> 00:09:43.200 align:start position:0% contract wallet well for a contract 00:09:43.200 --> 00:09:45.650 align:start position:0% contract wallet well for a contract wallet<00:09:43.620> the<00:09:44.100> users<00:09:44.399> actually<00:09:44.640> do<00:09:45.120> not<00:09:45.300> own<00:09:45.540> a 00:09:45.650 --> 00:09:45.660 align:start position:0% wallet the users actually do not own a 00:09:45.660 --> 00:09:48.170 align:start position:0% wallet the users actually do not own a uoa<00:09:46.080> anymore<00:09:46.260> right<00:09:46.740> so<00:09:46.980> for<00:09:47.640> for<00:09:48.000> instance 00:09:48.170 --> 00:09:48.180 align:start position:0% uoa anymore right so for for instance 00:09:48.180 --> 00:09:50.150 align:start position:0% uoa anymore right so for for instance for<00:09:48.420> account<00:09:48.540> obstruction<00:09:49.019> uh<00:09:49.680> you<00:09:49.920> will<00:09:50.040> have 00:09:50.150 --> 00:09:50.160 align:start position:0% for account obstruction uh you will have 00:09:50.160 --> 00:09:53.090 align:start position:0% for account obstruction uh you will have different<00:09:50.459> uh<00:09:51.360> address<00:09:51.540> that<00:09:51.959> we<00:09:52.080> use 00:09:53.090 --> 00:09:53.100 align:start position:0% different uh address that we use 00:09:53.100 --> 00:09:55.670 align:start position:0% different uh address that we use um<00:09:53.160> and<00:09:54.000> you<00:09:54.540> know 00:09:55.670 --> 00:09:55.680 align:start position:0% um and you know 00:09:55.680 --> 00:09:57.530 align:start position:0% um and you know but<00:09:56.160> basically<00:09:56.459> you<00:09:56.760> know<00:09:56.880> for<00:09:56.940> your<00:09:57.180> for<00:09:57.300> your 00:09:57.530 --> 00:09:57.540 align:start position:0% but basically you know for your for your 00:09:57.540 --> 00:09:58.970 align:start position:0% but basically you know for your for your smart<00:09:57.839> contract<00:09:58.200> wallet<00:09:58.560> you<00:09:58.680> should<00:09:58.800> be<00:09:58.860> able 00:09:58.970 --> 00:09:58.980 align:start position:0% smart contract wallet you should be able 00:09:58.980 --> 00:10:00.829 align:start position:0% smart contract wallet you should be able to<00:09:59.100> do<00:09:59.399> the<00:09:59.580> exact<00:09:59.880> same<00:10:00.000> things<00:10:00.300> that<00:10:00.720> you 00:10:00.829 --> 00:10:00.839 align:start position:0% to do the exact same things that you 00:10:00.839 --> 00:10:02.090 align:start position:0% to do the exact same things that you would<00:10:00.959> do<00:10:01.080> with<00:10:01.320> you<00:10:01.440> know<00:10:01.560> your<00:10:01.680> metamask 00:10:02.090 --> 00:10:02.100 align:start position:0% would do with you know your metamask 00:10:02.100 --> 00:10:03.470 align:start position:0% would do with you know your metamask right<00:10:02.399> you<00:10:02.760> should<00:10:02.820> be<00:10:02.940> able<00:10:03.000> to<00:10:03.120> submit<00:10:03.420> it 00:10:03.470 --> 00:10:03.480 align:start position:0% right you should be able to submit it 00:10:03.480 --> 00:10:05.870 align:start position:0% right you should be able to submit it arbitrary<00:10:03.839> Smart<00:10:04.019> Control<00:10:04.200> calls<00:10:04.980> and<00:10:05.640> get 00:10:05.870 --> 00:10:05.880 align:start position:0% arbitrary Smart Control calls and get 00:10:05.880 --> 00:10:07.490 align:start position:0% arbitrary Smart Control calls and get executed<00:10:06.360> right<00:10:06.600> and<00:10:06.839> this<00:10:07.019> is<00:10:07.080> done<00:10:07.200> in<00:10:07.380> the 00:10:07.490 --> 00:10:07.500 align:start position:0% executed right and this is done in the 00:10:07.500 --> 00:10:10.430 align:start position:0% executed right and this is done in the form<00:10:07.620> of<00:10:07.800> a<00:10:08.240> intermediary<00:10:09.240> uh<00:10:09.720> contract 00:10:10.430 --> 00:10:10.440 align:start position:0% form of a intermediary uh contract 00:10:10.440 --> 00:10:12.590 align:start position:0% form of a intermediary uh contract wallet<00:10:10.800> that<00:10:11.220> verify<00:10:11.580> some<00:10:11.760> signature<00:10:12.180> and 00:10:12.590 --> 00:10:12.600 align:start position:0% wallet that verify some signature and 00:10:12.600 --> 00:10:14.630 align:start position:0% wallet that verify some signature and carry<00:10:12.899> out<00:10:13.019> the<00:10:13.140> calls<00:10:13.500> for<00:10:13.680> you<00:10:13.800> okay<00:10:14.459> so 00:10:14.630 --> 00:10:14.640 align:start position:0% carry out the calls for you okay so 00:10:14.640 --> 00:10:17.030 align:start position:0% carry out the calls for you okay so that's<00:10:14.760> not<00:10:15.000> contract<00:10:15.660> wallet<00:10:16.019> and<00:10:16.560> recall<00:10:16.860> we 00:10:17.030 --> 00:10:17.040 align:start position:0% that's not contract wallet and recall we 00:10:17.040 --> 00:10:19.550 align:start position:0% that's not contract wallet and recall we want<00:10:17.160> to<00:10:17.220> do<00:10:17.339> before<00:10:17.459> we<00:10:18.060> know<00:10:18.300> we<00:10:18.420> said<00:10:18.540> that 00:10:19.550 --> 00:10:19.560 align:start position:0% want to do before we know we said that 00:10:19.560 --> 00:10:20.690 align:start position:0% want to do before we know we said that you<00:10:19.980> know 00:10:20.690 --> 00:10:20.700 align:start position:0% you know 00:10:20.700 --> 00:10:21.949 align:start position:0% you know the<00:10:21.000> the<00:10:21.000> thing<00:10:21.300> we<00:10:21.480> want<00:10:21.540> to<00:10:21.660> build<00:10:21.779> is 00:10:21.949 --> 00:10:21.959 align:start position:0% the the thing we want to build is 00:10:21.959 --> 00:10:24.590 align:start position:0% the the thing we want to build is basically<00:10:22.320> a<00:10:22.620> shielded<00:10:23.220> Pool<00:10:23.880> Plus<00:10:24.180> or<00:10:24.420> Smart 00:10:24.590 --> 00:10:24.600 align:start position:0% basically a shielded Pool Plus or Smart 00:10:24.600 --> 00:10:26.690 align:start position:0% basically a shielded Pool Plus or Smart Control<00:10:24.779> wallet<00:10:25.260> so<00:10:25.740> so<00:10:25.920> here's<00:10:26.459> what<00:10:26.580> we're 00:10:26.690 --> 00:10:26.700 align:start position:0% Control wallet so so here's what we're 00:10:26.700 --> 00:10:28.730 align:start position:0% Control wallet so so here's what we're actually<00:10:26.880> going<00:10:27.060> to<00:10:27.180> do<00:10:27.240> we're<00:10:27.420> going<00:10:27.540> to<00:10:27.740> take 00:10:28.730 --> 00:10:28.740 align:start position:0% actually going to do we're going to take 00:10:28.740 --> 00:10:32.630 align:start position:0% actually going to do we're going to take the<00:10:29.519> two<00:10:29.700> and<00:10:30.060> just<00:10:30.240> put<00:10:30.480> them<00:10:30.600> together<00:10:30.839> okay 00:10:32.630 --> 00:10:32.640 align:start position:0% the two and just put them together okay 00:10:32.640 --> 00:10:33.650 align:start position:0% the two and just put them together okay um 00:10:33.650 --> 00:10:33.660 align:start position:0% um 00:10:33.660 --> 00:10:35.389 align:start position:0% um so<00:10:34.080> it<00:10:34.260> seems<00:10:34.560> to<00:10:34.620> be<00:10:34.740> a<00:10:34.800> shielded<00:10:35.100> contract 00:10:35.389 --> 00:10:35.399 align:start position:0% so it seems to be a shielded contract 00:10:35.399 --> 00:10:38.389 align:start position:0% so it seems to be a shielded contract wallet<00:10:35.760> right<00:10:36.240> so<00:10:36.480> what<00:10:36.779> can<00:10:37.140> I<00:10:37.260> do<00:10:37.380> you<00:10:38.100> should 00:10:38.389 --> 00:10:38.399 align:start position:0% wallet right so what can I do you should 00:10:38.399 --> 00:10:40.850 align:start position:0% wallet right so what can I do you should be<00:10:38.519> able<00:10:38.640> to<00:10:38.760> use<00:10:38.940> anything<00:10:39.420> uh<00:10:40.380> that's<00:10:40.620> on 00:10:40.850 --> 00:10:40.860 align:start position:0% be able to use anything uh that's on 00:10:40.860 --> 00:10:43.370 align:start position:0% be able to use anything uh that's on ethereum<00:10:41.279> and<00:10:42.180> every<00:10:42.600> single<00:10:42.899> time<00:10:43.019> you<00:10:43.260> use 00:10:43.370 --> 00:10:43.380 align:start position:0% ethereum and every single time you use 00:10:43.380 --> 00:10:45.170 align:start position:0% ethereum and every single time you use the<00:10:43.500> wallet<00:10:43.860> nobody<00:10:44.579> should<00:10:44.820> actually<00:10:45.000> know 00:10:45.170 --> 00:10:45.180 align:start position:0% the wallet nobody should actually know 00:10:45.180 --> 00:10:46.490 align:start position:0% the wallet nobody should actually know who's<00:10:45.360> actually<00:10:45.600> using<00:10:45.899> the<00:10:45.959> wallet<00:10:46.200> right<00:10:46.380> so 00:10:46.490 --> 00:10:46.500 align:start position:0% who's actually using the wallet right so 00:10:46.500 --> 00:10:48.710 align:start position:0% who's actually using the wallet right so there's<00:10:47.040> one<00:10:47.220> single<00:10:47.519> shielded<00:10:48.000> contract 00:10:48.710 --> 00:10:48.720 align:start position:0% there's one single shielded contract 00:10:48.720 --> 00:10:50.810 align:start position:0% there's one single shielded contract wallet<00:10:49.079> that's<00:10:49.260> shared<00:10:49.620> by<00:10:49.740> all<00:10:50.100> the<00:10:50.399> users<00:10:50.640> in 00:10:50.810 --> 00:10:50.820 align:start position:0% wallet that's shared by all the users in 00:10:50.820 --> 00:10:53.269 align:start position:0% wallet that's shared by all the users in the<00:10:51.240> ecosystem 00:10:53.269 --> 00:10:53.279 align:start position:0% the ecosystem 00:10:53.279 --> 00:10:55.790 align:start position:0% the ecosystem um okay<00:10:53.940> so<00:10:54.600> so<00:10:54.779> you<00:10:55.019> know<00:10:55.140> that's<00:10:55.320> on<00:10:55.560> a<00:10:55.620> very 00:10:55.790 --> 00:10:55.800 align:start position:0% um okay so so you know that's on a very 00:10:55.800 --> 00:10:56.930 align:start position:0% um okay so so you know that's on a very high<00:10:55.920> level<00:10:56.040> but<00:10:56.279> how<00:10:56.399> does<00:10:56.579> this<00:10:56.700> actually 00:10:56.930 --> 00:10:56.940 align:start position:0% high level but how does this actually 00:10:56.940 --> 00:10:58.130 align:start position:0% high level but how does this actually work 00:10:58.130 --> 00:10:58.140 align:start position:0% work 00:10:58.140 --> 00:11:00.590 align:start position:0% work um 00:11:00.590 --> 00:11:00.600 align:start position:0% 00:11:00.600 --> 00:11:03.470 align:start position:0% right<00:11:01.079> so<00:11:01.560> for<00:11:01.740> sure<00:11:02.040> the<00:11:02.339> pools<00:11:02.700> like<00:11:03.120> like<00:11:03.300> we 00:11:03.470 --> 00:11:03.480 align:start position:0% right so for sure the pools like like we 00:11:03.480 --> 00:11:05.030 align:start position:0% right so for sure the pools like like we said<00:11:03.600> before<00:11:03.720> it<00:11:04.079> supports<00:11:04.500> deposits<00:11:04.920> and 00:11:05.030 --> 00:11:05.040 align:start position:0% said before it supports deposits and 00:11:05.040 --> 00:11:06.530 align:start position:0% said before it supports deposits and withdrawals<00:11:05.519> and<00:11:05.700> for<00:11:05.820> contract<00:11:06.120> wallets 00:11:06.530 --> 00:11:06.540 align:start position:0% withdrawals and for contract wallets 00:11:06.540 --> 00:11:08.630 align:start position:0% withdrawals and for contract wallets you'll<00:11:06.779> support<00:11:06.899> arbitrary<00:11:07.320> calls<00:11:07.680> and<00:11:08.279> we'll 00:11:08.630 --> 00:11:08.640 align:start position:0% you'll support arbitrary calls and we'll 00:11:08.640 --> 00:11:10.550 align:start position:0% you'll support arbitrary calls and we'll put<00:11:08.820> them<00:11:08.940> together<00:11:09.120> you<00:11:09.899> will<00:11:10.079> support<00:11:10.200> again 00:11:10.550 --> 00:11:10.560 align:start position:0% put them together you will support again 00:11:10.560 --> 00:11:13.130 align:start position:0% put them together you will support again deposits<00:11:11.220> and<00:11:11.279> withdrawals<00:11:11.820> but<00:11:12.480> but<00:11:12.720> also 00:11:13.130 --> 00:11:13.140 align:start position:0% deposits and withdrawals but but also 00:11:13.140 --> 00:11:15.829 align:start position:0% deposits and withdrawals but but also crucially<00:11:13.620> something<00:11:14.180> that<00:11:15.180> you<00:11:15.360> you<00:11:15.480> can<00:11:15.660> use 00:11:15.829 --> 00:11:15.839 align:start position:0% crucially something that you you can use 00:11:15.839 --> 00:11:19.009 align:start position:0% crucially something that you you can use to<00:11:16.560> to<00:11:17.040> call<00:11:17.279> and<00:11:17.459> eat<00:11:17.579> the<00:11:17.760> app<00:11:17.880> you<00:11:18.720> know<00:11:18.839> the 00:11:19.009 --> 00:11:19.019 align:start position:0% to to call and eat the app you know the 00:11:19.019 --> 00:11:19.730 align:start position:0% to to call and eat the app you know the app 00:11:19.730 --> 00:11:19.740 align:start position:0% app 00:11:19.740 --> 00:11:20.810 align:start position:0% app all<00:11:20.160> right 00:11:20.810 --> 00:11:20.820 align:start position:0% all right 00:11:20.820 --> 00:11:21.949 align:start position:0% all right so 00:11:21.949 --> 00:11:21.959 align:start position:0% so 00:11:21.959 --> 00:11:23.569 align:start position:0% so so<00:11:22.200> here's<00:11:22.560> the<00:11:22.680> picture<00:11:22.740> here's<00:11:23.279> how<00:11:23.399> it's 00:11:23.569 --> 00:11:23.579 align:start position:0% so here's the picture here's how it's 00:11:23.579 --> 00:11:24.769 align:start position:0% so here's the picture here's how it's going<00:11:23.820> to<00:11:23.880> work 00:11:24.769 --> 00:11:24.779 align:start position:0% going to work 00:11:24.779 --> 00:11:26.090 align:start position:0% going to work um<00:11:24.839> it's<00:11:25.019> going<00:11:25.200> to<00:11:25.260> be<00:11:25.320> a<00:11:25.440> smart<00:11:25.560> contracts<00:11:25.980> in 00:11:26.090 --> 00:11:26.100 align:start position:0% um it's going to be a smart contracts in 00:11:26.100 --> 00:11:29.750 align:start position:0% um it's going to be a smart contracts in ethereum<00:11:26.579> where<00:11:27.420> it<00:11:27.720> allows<00:11:28.140> any<00:11:28.560> any<00:11:28.800> user<00:11:29.279> to 00:11:29.750 --> 00:11:29.760 align:start position:0% ethereum where it allows any any user to 00:11:29.760 --> 00:11:32.630 align:start position:0% ethereum where it allows any any user to you<00:11:30.480> know<00:11:30.540> enter<00:11:30.720> this<00:11:31.019> ecosystem<00:11:31.440> and<00:11:32.339> once 00:11:32.630 --> 00:11:32.640 align:start position:0% you know enter this ecosystem and once 00:11:32.640 --> 00:11:34.730 align:start position:0% you know enter this ecosystem and once they<00:11:32.760> enter<00:11:32.940> they're<00:11:33.420> able<00:11:33.660> to<00:11:33.779> use<00:11:34.260> it<00:11:34.440> as<00:11:34.620> if 00:11:34.730 --> 00:11:34.740 align:start position:0% they enter they're able to use it as if 00:11:34.740 --> 00:11:38.210 align:start position:0% they enter they're able to use it as if it's<00:11:34.980> you<00:11:35.279> know<00:11:35.339> a<00:11:35.459> metamask<00:11:35.820> wallet<00:11:36.240> and 00:11:38.210 --> 00:11:38.220 align:start position:0% it's you know a metamask wallet and 00:11:38.220 --> 00:11:40.329 align:start position:0% it's you know a metamask wallet and when<00:11:39.000> different<00:11:39.300> users<00:11:39.600> have<00:11:39.779> an<00:11:39.959> application 00:11:40.329 --> 00:11:40.339 align:start position:0% when different users have an application 00:11:40.339 --> 00:11:43.370 align:start position:0% when different users have an application transactions<00:11:41.339> they<00:11:42.120> will<00:11:42.300> you<00:11:42.779> know 00:11:43.370 --> 00:11:43.380 align:start position:0% transactions they will you know 00:11:43.380 --> 00:11:45.470 align:start position:0% transactions they will you know they'll<00:11:43.800> be<00:11:43.980> reflected<00:11:44.459> on<00:11:44.700> chain<00:11:44.880> so<00:11:45.180> if<00:11:45.360> you 00:11:45.470 --> 00:11:45.480 align:start position:0% they'll be reflected on chain so if you 00:11:45.480 --> 00:11:46.670 align:start position:0% they'll be reflected on chain so if you want<00:11:45.600> to<00:11:45.660> call<00:11:45.779> Unison<00:11:46.079> up<00:11:46.320> you<00:11:46.440> want<00:11:46.500> to<00:11:46.560> call 00:11:46.670 --> 00:11:46.680 align:start position:0% want to call Unison up you want to call 00:11:46.680 --> 00:11:47.990 align:start position:0% want to call Unison up you want to call openc 00:11:47.990 --> 00:11:48.000 align:start position:0% openc 00:11:48.000 --> 00:11:50.569 align:start position:0% openc um<00:11:48.060> you<00:11:48.360> should<00:11:48.720> just<00:11:48.899> work<00:11:49.560> and<00:11:50.040> furthermore 00:11:50.569 --> 00:11:50.579 align:start position:0% um you should just work and furthermore 00:11:50.579 --> 00:11:52.610 align:start position:0% um you should just work and furthermore on<00:11:51.180> etherscan<00:11:51.720> you<00:11:51.899> have<00:11:52.019> no<00:11:52.200> idea<00:11:52.380> of<00:11:52.500> who's 00:11:52.610 --> 00:11:52.620 align:start position:0% on etherscan you have no idea of who's 00:11:52.620 --> 00:11:54.110 align:start position:0% on etherscan you have no idea of who's actually<00:11:52.800> behind<00:11:53.160> the<00:11:53.279> scene<00:11:53.459> during<00:11:53.880> this 00:11:54.110 --> 00:11:54.120 align:start position:0% actually behind the scene during this 00:11:54.120 --> 00:11:56.210 align:start position:0% actually behind the scene during this operation<00:11:54.540> right<00:11:55.079> and<00:11:55.620> that's<00:11:55.740> a<00:11:55.920> bonus 00:11:56.210 --> 00:11:56.220 align:start position:0% operation right and that's a bonus 00:11:56.220 --> 00:11:58.790 align:start position:0% operation right and that's a bonus actually<00:11:56.519> we<00:11:56.940> can<00:11:57.120> make<00:11:57.360> this 00:11:58.790 --> 00:11:58.800 align:start position:0% actually we can make this 00:11:58.800 --> 00:12:01.190 align:start position:0% actually we can make this um<00:11:58.860> smart<00:11:59.459> contract<00:11:59.880> or<00:12:00.540> contract<00:12:00.839> wallet 00:12:01.190 --> 00:12:01.200 align:start position:0% um smart contract or contract wallet 00:12:01.200 --> 00:12:03.310 align:start position:0% um smart contract or contract wallet compatible<00:12:01.560> with<00:12:01.740> account<00:12:01.980> abstraction<00:12:02.519> or 00:12:03.310 --> 00:12:03.320 align:start position:0% compatible with account abstraction or 00:12:03.320 --> 00:12:06.710 align:start position:0% compatible with account abstraction or eip4337<00:12:04.320> Okay<00:12:05.100> so 00:12:06.710 --> 00:12:06.720 align:start position:0% eip4337 Okay so 00:12:06.720 --> 00:12:08.750 align:start position:0% eip4337 Okay so as<00:12:07.260> it<00:12:07.500> turns<00:12:07.740> out<00:12:07.800> like<00:12:08.040> there's<00:12:08.519> two 00:12:08.750 --> 00:12:08.760 align:start position:0% as it turns out like there's two 00:12:08.760 --> 00:12:10.550 align:start position:0% as it turns out like there's two problems<00:12:09.240> you<00:12:09.720> know<00:12:09.779> if<00:12:10.079> you<00:12:10.200> want<00:12:10.320> to<00:12:10.440> build 00:12:10.550 --> 00:12:10.560 align:start position:0% problems you know if you want to build 00:12:10.560 --> 00:12:12.590 align:start position:0% problems you know if you want to build this<00:12:10.800> if<00:12:11.399> we<00:12:11.579> want<00:12:11.700> to<00:12:11.820> build<00:12:11.880> this<00:12:12.180> you<00:12:12.480> know 00:12:12.590 --> 00:12:12.600 align:start position:0% this if we want to build this you know 00:12:12.600 --> 00:12:14.329 align:start position:0% this if we want to build this you know just<00:12:12.779> combine<00:12:13.140> and<00:12:13.200> show<00:12:13.380> the<00:12:13.560> pool<00:12:13.680> with<00:12:14.100> the 00:12:14.329 --> 00:12:14.339 align:start position:0% just combine and show the pool with the 00:12:14.339 --> 00:12:16.730 align:start position:0% just combine and show the pool with the smart<00:12:15.240> contract<00:12:15.600> wallet 00:12:16.730 --> 00:12:16.740 align:start position:0% smart contract wallet 00:12:16.740 --> 00:12:19.370 align:start position:0% smart contract wallet the<00:12:17.220> first<00:12:17.339> problem<00:12:17.519> is<00:12:17.760> that<00:12:18.000> when<00:12:18.839> user 00:12:19.370 --> 00:12:19.380 align:start position:0% the first problem is that when user 00:12:19.380 --> 00:12:22.430 align:start position:0% the first problem is that when user submits<00:12:20.220> a<00:12:20.820> transaction<00:12:21.360> that<00:12:22.079> you<00:12:22.320> know 00:12:22.430 --> 00:12:22.440 align:start position:0% submits a transaction that you know 00:12:22.440 --> 00:12:23.810 align:start position:0% submits a transaction that you know contains<00:12:22.860> arbitrary<00:12:23.279> calls<00:12:23.579> you<00:12:23.700> can 00:12:23.810 --> 00:12:23.820 align:start position:0% contains arbitrary calls you can 00:12:23.820 --> 00:12:25.490 align:start position:0% contains arbitrary calls you can actually<00:12:24.000> just<00:12:24.480> steal<00:12:24.839> the<00:12:24.959> funds<00:12:25.200> of<00:12:25.320> the 00:12:25.490 --> 00:12:25.500 align:start position:0% actually just steal the funds of the 00:12:25.500 --> 00:12:27.470 align:start position:0% actually just steal the funds of the entire<00:12:25.740> contract<00:12:26.160> right 00:12:27.470 --> 00:12:27.480 align:start position:0% entire contract right 00:12:27.480 --> 00:12:30.110 align:start position:0% entire contract right um so<00:12:27.959> here<00:12:28.500> if<00:12:28.920> the<00:12:29.339> user<00:12:29.579> only<00:12:29.760> owns 00:12:30.110 --> 00:12:30.120 align:start position:0% um so here if the user only owns 00:12:30.120 --> 00:12:32.389 align:start position:0% um so here if the user only owns supposedly<00:12:30.660> on<00:12:30.899> one<00:12:31.079> ethereum<00:12:31.740> in<00:12:32.220> the<00:12:32.279> pool 00:12:32.389 --> 00:12:32.399 align:start position:0% supposedly on one ethereum in the pool 00:12:32.399 --> 00:12:35.210 align:start position:0% supposedly on one ethereum in the pool but<00:12:33.000> it<00:12:33.180> constructs<00:12:33.779> a<00:12:34.140> call<00:12:34.380> you<00:12:34.800> know<00:12:34.920> that 00:12:35.210 --> 00:12:35.220 align:start position:0% but it constructs a call you know that 00:12:35.220 --> 00:12:37.670 align:start position:0% but it constructs a call you know that consumes<00:12:35.940> 20<00:12:36.120> ethereum 00:12:37.670 --> 00:12:37.680 align:start position:0% consumes 20 ethereum 00:12:37.680 --> 00:12:39.650 align:start position:0% consumes 20 ethereum um<00:12:37.740> you<00:12:37.980> know<00:12:38.040> this<00:12:38.220> is<00:12:38.880> we<00:12:39.300> shouldn't<00:12:39.540> let 00:12:39.650 --> 00:12:39.660 align:start position:0% um you know this is we shouldn't let 00:12:39.660 --> 00:12:42.470 align:start position:0% um you know this is we shouldn't let this<00:12:39.839> happen<00:12:39.959> right<00:12:40.200> because<00:12:40.380> you<00:12:40.920> know 00:12:42.470 --> 00:12:42.480 align:start position:0% this happen right because you know 00:12:42.480 --> 00:12:43.850 align:start position:0% this happen right because you know um<00:12:42.540> people<00:12:42.779> would<00:12:42.959> be<00:12:43.079> able<00:12:43.200> to<00:12:43.320> still<00:12:43.440> the 00:12:43.850 --> 00:12:43.860 align:start position:0% um people would be able to still the 00:12:43.860 --> 00:12:45.230 align:start position:0% um people would be able to still the entirety<00:12:44.519> of<00:12:44.579> the<00:12:44.639> funds<00:12:44.820> of<00:12:44.880> the<00:12:45.060> entire 00:12:45.230 --> 00:12:45.240 align:start position:0% entirety of the funds of the entire 00:12:45.240 --> 00:12:47.629 align:start position:0% entirety of the funds of the entire protocol<00:12:45.540> so<00:12:46.500> uh<00:12:46.860> what's<00:12:46.980> the<00:12:47.160> solution<00:12:47.399> well 00:12:47.629 --> 00:12:47.639 align:start position:0% protocol so uh what's the solution well 00:12:47.639 --> 00:12:49.490 align:start position:0% protocol so uh what's the solution well the<00:12:47.760> solution<00:12:47.940> for<00:12:48.180> this<00:12:48.360> problem<00:12:48.540> is<00:12:48.899> that<00:12:49.079> we 00:12:49.490 --> 00:12:49.500 align:start position:0% the solution for this problem is that we 00:12:49.500 --> 00:12:50.810 align:start position:0% the solution for this problem is that we actually<00:12:49.860> just<00:12:50.100> separate<00:12:50.399> out<00:12:50.519> of<00:12:50.700> two 00:12:50.810 --> 00:12:50.820 align:start position:0% actually just separate out of two 00:12:50.820 --> 00:12:53.690 align:start position:0% actually just separate out of two contracts<00:12:51.360> uh<00:12:52.019> into<00:12:52.200> a<00:12:52.500> contract<00:12:52.800> that 00:12:53.690 --> 00:12:53.700 align:start position:0% contracts uh into a contract that 00:12:53.700 --> 00:12:56.509 align:start position:0% contracts uh into a contract that actually<00:12:54.300> holds<00:12:55.019> the 00:12:56.509 --> 00:12:56.519 align:start position:0% actually holds the 00:12:56.519 --> 00:12:59.150 align:start position:0% actually holds the the<00:12:56.579> other<00:12:57.300> funds<00:12:57.779> what<00:12:58.320> we<00:12:58.500> call<00:12:58.680> a<00:12:58.860> vault 00:12:59.150 --> 00:12:59.160 align:start position:0% the other funds what we call a vault 00:12:59.160 --> 00:13:02.269 align:start position:0% the other funds what we call a vault contract<00:12:59.639> and<00:13:00.300> a<00:13:00.540> wallet<00:13:01.079> contract<00:13:01.380> which<00:13:02.040> I 00:13:02.269 --> 00:13:02.279 align:start position:0% contract and a wallet contract which I 00:13:02.279 --> 00:13:04.910 align:start position:0% contract and a wallet contract which I will<00:13:02.459> actually<00:13:02.579> carry<00:13:02.880> out<00:13:02.940> the<00:13:03.060> calls 00:13:04.910 --> 00:13:04.920 align:start position:0% will actually carry out the calls 00:13:04.920 --> 00:13:05.690 align:start position:0% will actually carry out the calls um 00:13:05.690 --> 00:13:05.700 align:start position:0% um 00:13:05.700 --> 00:13:07.970 align:start position:0% um so<00:13:06.120> in<00:13:06.420> this<00:13:06.540> way 00:13:07.970 --> 00:13:07.980 align:start position:0% so in this way 00:13:07.980 --> 00:13:11.269 align:start position:0% so in this way users<00:13:08.579> will<00:13:08.760> unwrap<00:13:09.300> the<00:13:09.959> tokens<00:13:10.800> that<00:13:11.100> they 00:13:11.269 --> 00:13:11.279 align:start position:0% users will unwrap the tokens that they 00:13:11.279 --> 00:13:13.009 align:start position:0% users will unwrap the tokens that they have<00:13:11.459> and<00:13:12.000> only<00:13:12.180> the<00:13:12.360> tokens<00:13:12.600> that<00:13:12.720> they<00:13:12.839> have 00:13:13.009 --> 00:13:13.019 align:start position:0% have and only the tokens that they have 00:13:13.019 --> 00:13:15.889 align:start position:0% have and only the tokens that they have is<00:13:13.500> uh<00:13:14.040> inside<00:13:14.339> the<00:13:14.579> wallet<00:13:15.000> when<00:13:15.660> they're 00:13:15.889 --> 00:13:15.899 align:start position:0% is uh inside the wallet when they're 00:13:15.899 --> 00:13:17.810 align:start position:0% is uh inside the wallet when they're actually<00:13:16.139> not<00:13:16.620> call 00:13:17.810 --> 00:13:17.820 align:start position:0% actually not call 00:13:17.820 --> 00:13:20.629 align:start position:0% actually not call this<00:13:18.240> is<00:13:18.300> actually<00:13:18.839> kind<00:13:19.200> of<00:13:19.459> equivalent<00:13:20.459> to 00:13:20.629 --> 00:13:20.639 align:start position:0% this is actually kind of equivalent to 00:13:20.639 --> 00:13:22.009 align:start position:0% this is actually kind of equivalent to the<00:13:20.760> other<00:13:20.880> way<00:13:21.180> of<00:13:21.300> doing<00:13:21.420> it<00:13:21.600> which<00:13:21.779> is<00:13:21.899> you 00:13:22.009 --> 00:13:22.019 align:start position:0% the other way of doing it which is you 00:13:22.019 --> 00:13:25.370 align:start position:0% the other way of doing it which is you also<00:13:22.320> have<00:13:22.620> a<00:13:22.800> router<00:13:23.160> and<00:13:23.700> have<00:13:23.940> the<00:13:24.380> wallet 00:13:25.370 --> 00:13:25.380 align:start position:0% also have a router and have the wallet 00:13:25.380 --> 00:13:27.170 align:start position:0% also have a router and have the wallet holding<00:13:25.680> all<00:13:25.740> the<00:13:25.920> funds<00:13:26.160> and<00:13:26.700> putting<00:13:27.060> the 00:13:27.170 --> 00:13:27.180 align:start position:0% holding all the funds and putting the 00:13:27.180 --> 00:13:28.730 align:start position:0% holding all the funds and putting the things<00:13:27.300> into<00:13:27.420> the<00:13:27.660> router<00:13:27.959> so<00:13:28.320> there's<00:13:28.500> kind 00:13:28.730 --> 00:13:28.740 align:start position:0% things into the router so there's kind 00:13:28.740 --> 00:13:30.350 align:start position:0% things into the router so there's kind of<00:13:28.800> two<00:13:28.920> equivalent<00:13:29.279> solutions<00:13:29.639> to<00:13:30.000> solve<00:13:30.300> the 00:13:30.350 --> 00:13:30.360 align:start position:0% of two equivalent solutions to solve the 00:13:30.360 --> 00:13:33.050 align:start position:0% of two equivalent solutions to solve the same<00:13:30.540> problem<00:13:30.740> and<00:13:31.740> the<00:13:31.860> second<00:13:31.980> problem<00:13:32.339> that 00:13:33.050 --> 00:13:33.060 align:start position:0% same problem and the second problem that 00:13:33.060 --> 00:13:34.790 align:start position:0% same problem and the second problem that if<00:13:33.300> you<00:13:33.420> know<00:13:33.660> if<00:13:33.779> you<00:13:33.839> were<00:13:33.959> to<00:13:34.079> do<00:13:34.200> this<00:13:34.380> which 00:13:34.790 --> 00:13:34.800 align:start position:0% if you know if you were to do this which 00:13:34.800 --> 00:13:36.710 align:start position:0% if you know if you were to do this which I<00:13:34.980> think<00:13:35.100> is<00:13:35.220> the<00:13:35.459> main<00:13:35.579> reason<00:13:35.820> why 00:13:36.710 --> 00:13:36.720 align:start position:0% I think is the main reason why 00:13:36.720 --> 00:13:38.750 align:start position:0% I think is the main reason why we<00:13:37.139> don't<00:13:37.260> have<00:13:37.380> these<00:13:37.560> things<00:13:37.680> before<00:13:38.100> you 00:13:38.750 --> 00:13:38.760 align:start position:0% we don't have these things before you 00:13:38.760 --> 00:13:40.970 align:start position:0% we don't have these things before you know<00:13:38.880> is<00:13:39.300> that<00:13:39.540> for<00:13:40.200> this<00:13:40.380> type<00:13:40.560> of<00:13:40.680> privacy 00:13:40.970 --> 00:13:40.980 align:start position:0% know is that for this type of privacy 00:13:40.980 --> 00:13:42.949 align:start position:0% know is that for this type of privacy preserving<00:13:41.519> show<00:13:41.820> the<00:13:42.060> pools 00:13:42.949 --> 00:13:42.959 align:start position:0% preserving show the pools 00:13:42.959 --> 00:13:45.470 align:start position:0% preserving show the pools you<00:13:43.440> need<00:13:43.500> to<00:13:43.680> know<00:13:43.800> the<00:13:44.160> exact 00:13:45.470 --> 00:13:45.480 align:start position:0% you need to know the exact 00:13:45.480 --> 00:13:49.069 align:start position:0% you need to know the exact amount<00:13:46.260> of<00:13:46.740> tokens<00:13:47.300> uh<00:13:48.300> which<00:13:48.480> is<00:13:48.660> called<00:13:48.779> you 00:13:49.069 --> 00:13:49.079 align:start position:0% amount of tokens uh which is called you 00:13:49.079 --> 00:13:52.009 align:start position:0% amount of tokens uh which is called you know<00:13:49.200> that's<00:13:49.620> including<00:13:50.040> the<00:13:50.220> nodes<00:13:50.519> before 00:13:52.009 --> 00:13:52.019 align:start position:0% know that's including the nodes before 00:13:52.019 --> 00:13:53.870 align:start position:0% know that's including the nodes before um<00:13:52.079> you<00:13:52.440> insert<00:13:52.740> it<00:13:52.920> into<00:13:53.040> the<00:13:53.160> protocol<00:13:53.459> right 00:13:53.870 --> 00:13:53.880 align:start position:0% um you insert it into the protocol right 00:13:53.880 --> 00:13:55.430 align:start position:0% um you insert it into the protocol right so<00:13:54.060> so<00:13:54.360> everything<00:13:54.600> has<00:13:54.839> to<00:13:54.959> be<00:13:55.079> known<00:13:55.200> in 00:13:55.430 --> 00:13:55.440 align:start position:0% so so everything has to be known in 00:13:55.440 --> 00:13:58.190 align:start position:0% so so everything has to be known in advance<00:13:55.639> whereas<00:13:56.639> in<00:13:56.760> D5<00:13:57.000> protocols<00:13:57.660> you<00:13:58.019> have 00:13:58.190 --> 00:13:58.200 align:start position:0% advance whereas in D5 protocols you have 00:13:58.200 --> 00:13:59.389 align:start position:0% advance whereas in D5 protocols you have no<00:13:58.320> idea<00:13:58.560> how<00:13:58.740> much<00:13:58.860> tokens<00:13:59.100> you're<00:13:59.220> getting 00:13:59.389 --> 00:13:59.399 align:start position:0% no idea how much tokens you're getting 00:13:59.399 --> 00:14:01.129 align:start position:0% no idea how much tokens you're getting back<00:13:59.579> right<00:13:59.940> so<00:14:00.120> there's<00:14:00.300> this<00:14:00.480> uncertainty 00:14:01.129 --> 00:14:01.139 align:start position:0% back right so there's this uncertainty 00:14:01.139 --> 00:14:01.970 align:start position:0% back right so there's this uncertainty of 00:14:01.970 --> 00:14:01.980 align:start position:0% of 00:14:01.980 --> 00:14:04.009 align:start position:0% of smart<00:14:02.459> contract<00:14:02.880> decides<00:14:03.360> how<00:14:03.540> much<00:14:03.660> you<00:14:03.779> get 00:14:04.009 --> 00:14:04.019 align:start position:0% smart contract decides how much you get 00:14:04.019 --> 00:14:05.629 align:start position:0% smart contract decides how much you get back<00:14:04.200> but<00:14:04.920> traditionally<00:14:05.279> for<00:14:05.459> children 00:14:05.629 --> 00:14:05.639 align:start position:0% back but traditionally for children 00:14:05.639 --> 00:14:08.210 align:start position:0% back but traditionally for children pools<00:14:06.540> uh<00:14:07.260> you<00:14:07.380> know<00:14:07.500> everything<00:14:07.860> has<00:14:08.100> been 00:14:08.210 --> 00:14:08.220 align:start position:0% pools uh you know everything has been 00:14:08.220 --> 00:14:09.290 align:start position:0% pools uh you know everything has been only<00:14:08.399> in<00:14:08.519> advance 00:14:09.290 --> 00:14:09.300 align:start position:0% only in advance 00:14:09.300 --> 00:14:11.329 align:start position:0% only in advance uh<00:14:09.779> and<00:14:09.959> so<00:14:10.139> that's<00:14:10.260> this<00:14:10.500> is<00:14:10.620> like<00:14:10.740> uh<00:14:11.040> you 00:14:11.329 --> 00:14:11.339 align:start position:0% uh and so that's this is like uh you 00:14:11.339 --> 00:14:13.129 align:start position:0% uh and so that's this is like uh you know<00:14:11.399> one<00:14:12.120> feature<00:14:12.420> that<00:14:12.600> would<00:14:12.839> you<00:14:13.019> know 00:14:13.129 --> 00:14:13.139 align:start position:0% know one feature that would you know 00:14:13.139 --> 00:14:15.530 align:start position:0% know one feature that would you know didn't<00:14:13.620> really<00:14:13.920> know<00:14:14.100> how<00:14:14.220> to<00:14:14.339> do<00:14:14.399> before 00:14:15.530 --> 00:14:15.540 align:start position:0% didn't really know how to do before 00:14:15.540 --> 00:14:17.509 align:start position:0% didn't really know how to do before um<00:14:15.600> and<00:14:16.320> there's<00:14:16.500> a<00:14:16.620> solution<00:14:16.860> for<00:14:17.100> this<00:14:17.220> which 00:14:17.509 --> 00:14:17.519 align:start position:0% um and there's a solution for this which 00:14:17.519 --> 00:14:18.590 align:start position:0% um and there's a solution for this which is<00:14:17.639> that 00:14:18.590 --> 00:14:18.600 align:start position:0% is that 00:14:18.600 --> 00:14:20.810 align:start position:0% is that um<00:14:19.079> we<00:14:19.440> have<00:14:19.620> this<00:14:19.680> notion<00:14:19.980> of<00:14:20.040> refunding<00:14:20.639> to 00:14:20.810 --> 00:14:20.820 align:start position:0% um we have this notion of refunding to 00:14:20.820 --> 00:14:23.090 align:start position:0% um we have this notion of refunding to Anonymous<00:14:21.240> address<00:14:21.500> uh<00:14:22.500> so<00:14:22.680> we<00:14:22.800> have<00:14:22.920> to<00:14:23.040> be 00:14:23.090 --> 00:14:23.100 align:start position:0% Anonymous address uh so we have to be 00:14:23.100 --> 00:14:25.430 align:start position:0% Anonymous address uh so we have to be able<00:14:23.220> to<00:14:23.339> randomize<00:14:23.820> accuracies<00:14:24.360> and<00:14:25.079> refund 00:14:25.430 --> 00:14:25.440 align:start position:0% able to randomize accuracies and refund 00:14:25.440 --> 00:14:27.350 align:start position:0% able to randomize accuracies and refund to<00:14:25.620> them<00:14:25.740> I<00:14:26.279> realized<00:14:26.639> I<00:14:26.700> actually<00:14:26.880> you<00:14:27.240> know 00:14:27.350 --> 00:14:27.360 align:start position:0% to them I realized I actually you know 00:14:27.360 --> 00:14:29.629 align:start position:0% to them I realized I actually you know basically<00:14:27.720> spread<00:14:28.200> through<00:14:28.320> my<00:14:28.500> uh<00:14:29.040> entire 00:14:29.629 --> 00:14:29.639 align:start position:0% basically spread through my uh entire 00:14:29.639 --> 00:14:32.990 align:start position:0% basically spread through my uh entire deck<00:14:30.060> and<00:14:30.620> the<00:14:31.620> end<00:14:31.740> of<00:14:31.860> the<00:14:31.980> talk 00:14:32.990 --> 00:14:33.000 align:start position:0% deck and the end of the talk 00:14:33.000 --> 00:14:33.650 align:start position:0% deck and the end of the talk um 00:14:33.650 --> 00:14:33.660 align:start position:0% um 00:14:33.660 --> 00:14:35.449 align:start position:0% um so<00:14:34.079> let's<00:14:34.200> recap 00:14:35.449 --> 00:14:35.459 align:start position:0% so let's recap 00:14:35.459 --> 00:14:37.370 align:start position:0% so let's recap what<00:14:35.700> have<00:14:36.060> you<00:14:36.180> learned<00:14:36.360> in<00:14:36.480> this<00:14:36.600> talk<00:14:36.779> so 00:14:37.370 --> 00:14:37.380 align:start position:0% what have you learned in this talk so 00:14:37.380 --> 00:14:39.290 align:start position:0% what have you learned in this talk so first<00:14:37.500> off<00:14:37.680> privacy<00:14:38.040> is<00:14:38.100> really<00:14:38.279> important<00:14:38.579> we 00:14:39.290 --> 00:14:39.300 align:start position:0% first off privacy is really important we 00:14:39.300 --> 00:14:41.930 align:start position:0% first off privacy is really important we do<00:14:39.420> not<00:14:39.540> have<00:14:39.660> privacy<00:14:40.019> on<00:14:40.440> ethereum<00:14:40.920> we<00:14:41.699> need 00:14:41.930 --> 00:14:41.940 align:start position:0% do not have privacy on ethereum we need 00:14:41.940 --> 00:14:44.090 align:start position:0% do not have privacy on ethereum we need some<00:14:42.360> type<00:14:42.540> of<00:14:42.660> privacy<00:14:43.320> solution<00:14:43.860> for 00:14:44.090 --> 00:14:44.100 align:start position:0% some type of privacy solution for 00:14:44.100 --> 00:14:45.710 align:start position:0% some type of privacy solution for ethereum<00:14:44.459> that's<00:14:44.579> really<00:14:44.760> usable<00:14:45.000> before 00:14:45.710 --> 00:14:45.720 align:start position:0% ethereum that's really usable before 00:14:45.720 --> 00:14:48.050 align:start position:0% ethereum that's really usable before ethereum<00:14:46.440> can<00:14:46.620> go<00:14:46.740> mainstream 00:14:48.050 --> 00:14:48.060 align:start position:0% ethereum can go mainstream 00:14:48.060 --> 00:14:50.990 align:start position:0% ethereum can go mainstream and<00:14:48.959> a<00:14:49.199> shielded<00:14:49.620> contract<00:14:49.980> wallet<00:14:50.339> combining 00:14:50.990 --> 00:14:51.000 align:start position:0% and a shielded contract wallet combining 00:14:51.000 --> 00:14:52.970 align:start position:0% and a shielded contract wallet combining a<00:14:51.120> shielded<00:14:51.480> pool<00:14:51.660> and<00:14:51.839> control<00:14:52.019> wallet<00:14:52.500> is 00:14:52.970 --> 00:14:52.980 align:start position:0% a shielded pool and control wallet is 00:14:52.980 --> 00:14:55.550 align:start position:0% a shielded pool and control wallet is our<00:14:53.220> best<00:14:53.399> shot<00:14:53.639> at<00:14:54.300> this<00:14:54.959> backwards 00:14:55.550 --> 00:14:55.560 align:start position:0% our best shot at this backwards 00:14:55.560 --> 00:14:57.410 align:start position:0% our best shot at this backwards compatible<00:14:55.980> feature<00:14:56.519> complete<00:14:56.880> privacy 00:14:57.410 --> 00:14:57.420 align:start position:0% compatible feature complete privacy 00:14:57.420 --> 00:14:59.329 align:start position:0% compatible feature complete privacy layer<00:14:57.779> and<00:14:58.320> finally<00:14:58.560> we're<00:14:58.860> building<00:14:59.100> this 00:14:59.329 --> 00:14:59.339 align:start position:0% layer and finally we're building this 00:14:59.339 --> 00:15:00.470 align:start position:0% layer and finally we're building this out 00:15:00.470 --> 00:15:00.480 align:start position:0% out 00:15:00.480 --> 00:15:01.430 align:start position:0% out um 00:15:01.430 --> 00:15:01.440 align:start position:0% um 00:15:01.440 --> 00:15:04.550 align:start position:0% um we<00:15:02.160> you<00:15:02.579> know<00:15:02.699> hope<00:15:02.940> to<00:15:03.120> put<00:15:04.019> something<00:15:04.199> on<00:15:04.380> the 00:15:04.550 --> 00:15:04.560 align:start position:0% we you know hope to put something on the 00:15:04.560 --> 00:15:08.030 align:start position:0% we you know hope to put something on the public<00:15:04.760> and<00:15:05.760> uh<00:15:06.120> and<00:15:06.420> the<00:15:06.660> hope<00:15:06.779> is<00:15:06.959> that<00:15:07.199> you 00:15:08.030 --> 00:15:08.040 align:start position:0% public and uh and the hope is that you 00:15:08.040 --> 00:15:10.610 align:start position:0% public and uh and the hope is that you know<00:15:08.160> long<00:15:08.579> term<00:15:08.760> for<00:15:09.360> this<00:15:09.540> ecosystem<00:15:10.019> most 00:15:10.610 --> 00:15:10.620 align:start position:0% know long term for this ecosystem most 00:15:10.620 --> 00:15:12.470 align:start position:0% know long term for this ecosystem most people<00:15:10.860> will<00:15:11.160> actually<00:15:11.339> be<00:15:11.579> inside<00:15:11.820> you<00:15:12.420> know 00:15:12.470 --> 00:15:12.480 align:start position:0% people will actually be inside you know 00:15:12.480 --> 00:15:14.810 align:start position:0% people will actually be inside you know a<00:15:12.839> privacy<00:15:13.139> layer<00:15:13.500> instead<00:15:13.920> of<00:15:13.980> the<00:15:14.519> standard 00:15:14.810 --> 00:15:14.820 align:start position:0% a privacy layer instead of the standard 00:15:14.820 --> 00:15:17.210 align:start position:0% a privacy layer instead of the standard uoa<00:15:15.240> layer<00:15:15.959> and<00:15:16.620> if<00:15:16.800> you're<00:15:16.920> interested<00:15:17.160> in 00:15:17.210 --> 00:15:17.220 align:start position:0% uoa layer and if you're interested in 00:15:17.220 --> 00:15:19.129 align:start position:0% uoa layer and if you're interested in contributing<00:15:17.579> to<00:15:17.699> this<00:15:17.820> effort<00:15:18.060> uh<00:15:18.899> please 00:15:19.129 --> 00:15:19.139 align:start position:0% contributing to this effort uh please 00:15:19.139 --> 00:15:21.410 align:start position:0% contributing to this effort uh please come<00:15:19.260> talk<00:15:19.500> to<00:15:19.620> me<00:15:20.100> and<00:15:20.699> I<00:15:20.880> realized<00:15:21.180> I<00:15:21.300> didn't 00:15:21.410 --> 00:15:21.420 align:start position:0% come talk to me and I realized I didn't 00:15:21.420 --> 00:15:22.910 align:start position:0% come talk to me and I realized I didn't do<00:15:21.660> a<00:15:21.899> soft<00:15:22.019> introduction<00:15:22.500> at<00:15:22.740> the<00:15:22.860> beginning 00:15:22.910 --> 00:15:22.920 align:start position:0% do a soft introduction at the beginning 00:15:22.920 --> 00:15:25.490 align:start position:0% do a soft introduction at the beginning my<00:15:23.519> name<00:15:23.699> is<00:15:23.699> wayday<00:15:24.240> a<00:15:24.779> research<00:15:25.019> partner<00:15:25.320> at 00:15:25.490 --> 00:15:25.500 align:start position:0% my name is wayday a research partner at 00:15:25.500 --> 00:15:28.910 align:start position:0% my name is wayday a research partner at Ben<00:15:25.680> capricel<00:15:26.399> and<00:15:27.720> um<00:15:27.779> come<00:15:28.320> ask<00:15:28.620> me<00:15:28.740> if<00:15:28.800> you 00:15:28.910 --> 00:15:28.920 align:start position:0% Ben capricel and um come ask me if you 00:15:28.920 --> 00:15:30.170 align:start position:0% Ben capricel and um come ask me if you have<00:15:29.100> more<00:15:29.339> questions<00:15:29.519> about<00:15:29.820> this<00:15:30.000> project 00:15:30.170 --> 00:15:30.180 align:start position:0% have more questions about this project 00:15:30.180 --> 00:15:31.910 align:start position:0% have more questions about this project but<00:15:30.660> I'll<00:15:30.959> take<00:15:31.139> any<00:15:31.199> questions<00:15:31.440> from<00:15:31.740> here 00:15:31.910 --> 00:15:31.920 align:start position:0% but I'll take any questions from here 00:15:31.920 --> 00:15:33.610 align:start position:0% but I'll take any questions from here thank<00:15:32.459> you 00:15:33.610 --> 00:15:33.620 align:start position:0% thank you 00:15:33.620 --> 00:15:36.829 align:start position:0% thank you hi<00:15:34.620> uh<00:15:35.579> congrats<00:15:36.060> for<00:15:36.240> the<00:15:36.360> work<00:15:36.480> I<00:15:36.720> think 00:15:36.829 --> 00:15:36.839 align:start position:0% hi uh congrats for the work I think 00:15:36.839 --> 00:15:39.050 align:start position:0% hi uh congrats for the work I think privacy<00:15:37.260> is<00:15:37.380> very<00:15:37.500> important<00:15:37.860> I've<00:15:38.639> worked 00:15:39.050 --> 00:15:39.060 align:start position:0% privacy is very important I've worked 00:15:39.060 --> 00:15:40.970 align:start position:0% privacy is very important I've worked for<00:15:39.120> a<00:15:39.240> few<00:15:39.360> years<00:15:39.600> on<00:15:39.899> having<00:15:40.199> trying<00:15:40.620> to<00:15:40.800> make 00:15:40.970 --> 00:15:40.980 align:start position:0% for a few years on having trying to make 00:15:40.980 --> 00:15:44.329 align:start position:0% for a few years on having trying to make users<00:15:41.579> uh<00:15:42.360> have<00:15:42.839> Smart<00:15:43.560> contract<00:15:43.860> wallets<00:15:44.220> by 00:15:44.329 --> 00:15:44.339 align:start position:0% users uh have Smart contract wallets by 00:15:44.339 --> 00:15:46.670 align:start position:0% users uh have Smart contract wallets by default<00:15:44.760> and<00:15:45.240> the<00:15:45.420> big<00:15:45.540> problem<00:15:45.779> is<00:15:46.260> the<00:15:46.500> gas 00:15:46.670 --> 00:15:46.680 align:start position:0% default and the big problem is the gas 00:15:46.680 --> 00:15:49.189 align:start position:0% default and the big problem is the gas cost<00:15:47.040> of<00:15:48.000> of<00:15:48.180> just<00:15:48.480> having<00:15:48.600> to<00:15:48.899> onboard 00:15:49.189 --> 00:15:49.199 align:start position:0% cost of of just having to onboard 00:15:49.199 --> 00:15:51.710 align:start position:0% cost of of just having to onboard someone<00:15:49.740> and<00:15:50.220> already<00:15:50.399> having<00:15:50.760> to<00:15:51.000> spend<00:15:51.300> like 00:15:51.710 --> 00:15:51.720 align:start position:0% someone and already having to spend like 00:15:51.720 --> 00:15:53.930 align:start position:0% someone and already having to spend like ten<00:15:52.380> dollars<00:15:52.680> five<00:15:52.920> dollars<00:15:53.220> sometimes<00:15:53.760> a 00:15:53.930 --> 00:15:53.940 align:start position:0% ten dollars five dollars sometimes a 00:15:53.940 --> 00:15:55.970 align:start position:0% ten dollars five dollars sometimes a hundred<00:15:54.180> dollars<00:15:54.420> how<00:15:55.320> do<00:15:55.440> you<00:15:55.620> think<00:15:55.740> that 00:15:55.970 --> 00:15:55.980 align:start position:0% hundred dollars how do you think that 00:15:55.980 --> 00:15:58.069 align:start position:0% hundred dollars how do you think that that<00:15:56.160> can<00:15:56.399> be<00:15:56.519> solved 00:15:58.069 --> 00:15:58.079 align:start position:0% that can be solved 00:15:58.079 --> 00:15:59.030 align:start position:0% that can be solved um 00:15:59.030 --> 00:15:59.040 align:start position:0% um 00:15:59.040 --> 00:16:01.370 align:start position:0% um yeah<00:15:59.699> very<00:16:00.120> good<00:16:00.300> question<00:16:00.480> I<00:16:00.779> think<00:16:00.959> two 00:16:01.370 --> 00:16:01.380 align:start position:0% yeah very good question I think two 00:16:01.380 --> 00:16:04.069 align:start position:0% yeah very good question I think two things<00:16:01.620> uh<00:16:02.339> one<00:16:02.579> is 00:16:04.069 --> 00:16:04.079 align:start position:0% things uh one is 00:16:04.079 --> 00:16:07.490 align:start position:0% things uh one is the<00:16:04.860> you<00:16:05.459> know<00:16:05.519> actual<00:16:05.940> cause<00:16:06.360> of<00:16:06.600> gas<00:16:06.839> over 00:16:07.490 --> 00:16:07.500 align:start position:0% the you know actual cause of gas over 00:16:07.500 --> 00:16:09.350 align:start position:0% the you know actual cause of gas over time<00:16:07.740> as<00:16:08.279> we<00:16:08.519> build<00:16:08.699> these<00:16:08.940> scalability 00:16:09.350 --> 00:16:09.360 align:start position:0% time as we build these scalability 00:16:09.360 --> 00:16:12.050 align:start position:0% time as we build these scalability layers<00:16:09.779> should<00:16:10.560> go<00:16:10.920> down<00:16:11.160> right<00:16:11.519> as<00:16:11.699> we<00:16:11.880> build 00:16:12.050 --> 00:16:12.060 align:start position:0% layers should go down right as we build 00:16:12.060 --> 00:16:13.490 align:start position:0% layers should go down right as we build more<00:16:12.360> Roll-Ups 00:16:13.490 --> 00:16:13.500 align:start position:0% more Roll-Ups 00:16:13.500 --> 00:16:15.710 align:start position:0% more Roll-Ups um and<00:16:13.680> the<00:16:13.800> second<00:16:13.920> is<00:16:14.339> uh<00:16:15.060> we<00:16:15.300> could<00:16:15.420> use 00:16:15.710 --> 00:16:15.720 align:start position:0% um and the second is uh we could use 00:16:15.720 --> 00:16:17.509 align:start position:0% um and the second is uh we could use batching<00:16:16.260> to 00:16:17.509 --> 00:16:17.519 align:start position:0% batching to 00:16:17.519 --> 00:16:19.970 align:start position:0% batching to um<00:16:17.579> amortize<00:16:18.300> the<00:16:18.420> gas<00:16:18.600> cost<00:16:18.839> so<00:16:19.320> usually<00:16:19.620> you 00:16:19.970 --> 00:16:19.980 align:start position:0% um amortize the gas cost so usually you 00:16:19.980 --> 00:16:21.949 align:start position:0% um amortize the gas cost so usually you know<00:16:20.040> actually<00:16:20.459> in<00:16:20.699> 457<00:16:21.240> there's<00:16:21.480> notion<00:16:21.839> of 00:16:21.949 --> 00:16:21.959 align:start position:0% know actually in 457 there's notion of 00:16:21.959 --> 00:16:24.769 align:start position:0% know actually in 457 there's notion of uh<00:16:22.500> bundlers<00:16:22.980> and<00:16:23.160> aggregators<00:16:23.639> where<00:16:24.420> you 00:16:24.769 --> 00:16:24.779 align:start position:0% uh bundlers and aggregators where you 00:16:24.779 --> 00:16:26.090 align:start position:0% uh bundlers and aggregators where you know<00:16:24.839> you<00:16:25.079> compress<00:16:25.440> authentication 00:16:26.090 --> 00:16:26.100 align:start position:0% know you compress authentication 00:16:26.100 --> 00:16:28.250 align:start position:0% know you compress authentication information<00:16:26.420> uh<00:16:27.420> you<00:16:27.720> know<00:16:27.779> from<00:16:27.959> multiple 00:16:28.250 --> 00:16:28.260 align:start position:0% information uh you know from multiple 00:16:28.260 --> 00:16:29.750 align:start position:0% information uh you know from multiple transaction<00:16:28.680> from<00:16:29.040> multiple<00:16:29.279> transactions 00:16:29.750 --> 00:16:29.760 align:start position:0% transaction from multiple transactions 00:16:29.760 --> 00:16:32.509 align:start position:0% transaction from multiple transactions into<00:16:29.940> into<00:16:30.540> a<00:16:30.779> single<00:16:31.139> authorization<00:16:32.040> for<00:16:32.339> for 00:16:32.509 --> 00:16:32.519 align:start position:0% into into a single authorization for for 00:16:32.519 --> 00:16:34.610 align:start position:0% into into a single authorization for for all<00:16:32.880> the<00:16:33.000> transactions<00:16:33.540> and<00:16:34.320> you<00:16:34.560> know 00:16:34.610 --> 00:16:34.620 align:start position:0% all the transactions and you know 00:16:34.620 --> 00:16:35.750 align:start position:0% all the transactions and you know there's<00:16:34.740> different<00:16:34.980> tricks<00:16:35.339> to<00:16:35.459> kind<00:16:35.639> of 00:16:35.750 --> 00:16:35.760 align:start position:0% there's different tricks to kind of 00:16:35.760 --> 00:16:38.210 align:start position:0% there's different tricks to kind of further<00:16:36.300> optimize<00:16:36.660> the<00:16:36.779> gas<00:16:36.899> cost<00:16:37.139> uh<00:16:37.920> so<00:16:38.040> over 00:16:38.210 --> 00:16:38.220 align:start position:0% further optimize the gas cost uh so over 00:16:38.220 --> 00:16:40.189 align:start position:0% further optimize the gas cost uh so over time<00:16:38.459> through<00:16:39.060> these<00:16:39.360> you<00:16:39.480> know<00:16:39.540> two<00:16:39.720> Avenues 00:16:40.189 --> 00:16:40.199 align:start position:0% time through these you know two Avenues 00:16:40.199 --> 00:16:42.230 align:start position:0% time through these you know two Avenues the<00:16:40.560> hope<00:16:40.800> is<00:16:40.920> that 00:16:42.230 --> 00:16:42.240 align:start position:0% the hope is that 00:16:42.240 --> 00:16:45.170 align:start position:0% the hope is that the<00:16:42.720> the<00:16:42.959> additional<00:16:43.560> cost<00:16:43.740> incurred<00:16:44.279> to<00:16:44.940> to 00:16:45.170 --> 00:16:45.180 align:start position:0% the the additional cost incurred to to 00:16:45.180 --> 00:16:47.930 align:start position:0% the the additional cost incurred to to get<00:16:45.360> a<00:16:45.480> contract<00:16:45.839> wallet<00:16:46.259> with<00:16:46.620> privacy<00:16:47.040> uh 00:16:47.930 --> 00:16:47.940 align:start position:0% get a contract wallet with privacy uh 00:16:47.940 --> 00:16:50.269 align:start position:0% get a contract wallet with privacy uh it's<00:16:48.120> not<00:16:48.300> prohibitive<00:16:48.720> for<00:16:49.079> for<00:16:49.320> users<00:16:49.740> for 00:16:50.269 --> 00:16:50.279 align:start position:0% it's not prohibitive for for users for 00:16:50.279 --> 00:16:52.670 align:start position:0% it's not prohibitive for for users for you<00:16:50.519> know<00:16:50.639> for<00:16:50.759> vast<00:16:51.180> majority<00:16:51.420> of<00:16:51.480> users<00:16:51.899> uh 00:16:52.670 --> 00:16:52.680 align:start position:0% you know for vast majority of users uh 00:16:52.680 --> 00:16:54.290 align:start position:0% you know for vast majority of users uh great<00:16:52.920> talk<00:16:53.100> I'm<00:16:53.459> interested<00:16:53.820> in<00:16:53.940> how<00:16:54.180> you 00:16:54.290 --> 00:16:54.300 align:start position:0% great talk I'm interested in how you 00:16:54.300 --> 00:16:57.650 align:start position:0% great talk I'm interested in how you figure<00:16:54.420> out<00:16:54.660> ofac<00:16:55.620> and<00:16:55.860> tornado<00:16:56.279> cache 00:16:57.650 --> 00:16:57.660 align:start position:0% figure out ofac and tornado cache 00:16:57.660 --> 00:16:59.030 align:start position:0% figure out ofac and tornado cache um<00:16:57.779> because<00:16:57.959> if<00:16:58.139> this<00:16:58.259> is<00:16:58.380> like<00:16:58.500> an<00:16:58.680> opt-in 00:16:59.030 --> 00:16:59.040 align:start position:0% um because if this is like an opt-in 00:16:59.040 --> 00:17:01.730 align:start position:0% um because if this is like an opt-in where<00:16:59.880> this<00:17:00.060> person<00:17:00.180> coming<00:17:00.420> from<00:17:00.540> hi<00:17:00.959> over 00:17:01.730 --> 00:17:01.740 align:start position:0% where this person coming from hi over 00:17:01.740 --> 00:17:04.189 align:start position:0% where this person coming from hi over here<00:17:01.920> oh<00:17:02.399> yeah<00:17:02.519> hi<00:17:03.060> no<00:17:03.480> how<00:17:03.779> you<00:17:03.899> think<00:17:04.020> about 00:17:04.189 --> 00:17:04.199 align:start position:0% here oh yeah hi no how you think about 00:17:04.199 --> 00:17:05.809 align:start position:0% here oh yeah hi no how you think about uh<00:17:04.679> because<00:17:04.799> if<00:17:04.980> you<00:17:05.040> look<00:17:05.100> at<00:17:05.220> tornado<00:17:05.459> cache 00:17:05.809 --> 00:17:05.819 align:start position:0% uh because if you look at tornado cache 00:17:05.819 --> 00:17:07.549 align:start position:0% uh because if you look at tornado cache and<00:17:05.939> the<00:17:06.059> ofax<00:17:06.360> sanctions<00:17:06.780> how<00:17:07.199> do<00:17:07.319> you<00:17:07.439> think 00:17:07.549 --> 00:17:07.559 align:start position:0% and the ofax sanctions how do you think 00:17:07.559 --> 00:17:08.990 align:start position:0% and the ofax sanctions how do you think about<00:17:07.740> sort<00:17:08.040> of<00:17:08.100> avoiding<00:17:08.640> that<00:17:08.760> kind<00:17:08.939> of 00:17:08.990 --> 00:17:09.000 align:start position:0% about sort of avoiding that kind of 00:17:09.000 --> 00:17:10.669 align:start position:0% about sort of avoiding that kind of thing<00:17:09.179> with<00:17:09.660> because<00:17:09.900> my<00:17:10.140> understanding<00:17:10.380> is 00:17:10.669 --> 00:17:10.679 align:start position:0% thing with because my understanding is 00:17:10.679 --> 00:17:12.049 align:start position:0% thing with because my understanding is that<00:17:10.919> this<00:17:11.040> would<00:17:11.160> be<00:17:11.280> like<00:17:11.459> an<00:17:11.520> opt-in<00:17:11.819> smart 00:17:12.049 --> 00:17:12.059 align:start position:0% that this would be like an opt-in smart 00:17:12.059 --> 00:17:13.789 align:start position:0% that this would be like an opt-in smart counter<00:17:12.360> wallet<00:17:12.660> so<00:17:13.020> how<00:17:13.199> can<00:17:13.319> you<00:17:13.439> avoid<00:17:13.620> that 00:17:13.789 --> 00:17:13.799 align:start position:0% counter wallet so how can you avoid that 00:17:13.799 --> 00:17:15.289 align:start position:0% counter wallet so how can you avoid that and<00:17:14.040> kind<00:17:14.220> of<00:17:14.339> adverse<00:17:14.699> selection<00:17:14.880> and<00:17:15.120> these 00:17:15.289 --> 00:17:15.299 align:start position:0% and kind of adverse selection and these 00:17:15.299 --> 00:17:18.049 align:start position:0% and kind of adverse selection and these types<00:17:15.419> of<00:17:15.480> things<00:17:15.660> yeah<00:17:16.020> so 00:17:18.049 --> 00:17:18.059 align:start position:0% types of things yeah so 00:17:18.059 --> 00:17:18.590 align:start position:0% types of things yeah so um 00:17:18.590 --> 00:17:18.600 align:start position:0% um 00:17:18.600 --> 00:17:20.809 align:start position:0% um so<00:17:19.140> referring<00:17:19.559> back<00:17:19.740> to<00:17:19.860> my<00:17:20.040> slides<00:17:20.400> where<00:17:20.640> I 00:17:20.809 --> 00:17:20.819 align:start position:0% so referring back to my slides where I 00:17:20.819 --> 00:17:22.309 align:start position:0% so referring back to my slides where I showed<00:17:21.059> the<00:17:21.179> special<00:17:21.299> Solutions 00:17:22.309 --> 00:17:22.319 align:start position:0% showed the special Solutions 00:17:22.319 --> 00:17:24.770 align:start position:0% showed the special Solutions you<00:17:23.459> you<00:17:23.760> know 00:17:24.770 --> 00:17:24.780 align:start position:0% you you know 00:17:24.780 --> 00:17:26.510 align:start position:0% you you know I think as<00:17:25.500> a<00:17:25.620> builder<00:17:25.980> we<00:17:26.220> should<00:17:26.339> be 00:17:26.510 --> 00:17:26.520 align:start position:0% I think as a builder we should be 00:17:26.520 --> 00:17:28.010 align:start position:0% I think as a builder we should be flexible<00:17:26.819> in 00:17:28.010 --> 00:17:28.020 align:start position:0% flexible in 00:17:28.020 --> 00:17:29.870 align:start position:0% flexible in kind<00:17:28.380> of<00:17:28.500> so<00:17:28.799> good<00:17:29.040> what<00:17:29.220> is<00:17:29.340> privacy<00:17:29.700> right 00:17:29.870 --> 00:17:29.880 align:start position:0% kind of so good what is privacy right 00:17:29.880 --> 00:17:32.390 align:start position:0% kind of so good what is privacy right privacy<00:17:30.419> is<00:17:31.380> appropriate<00:17:31.980> full<00:17:32.160> of 00:17:32.390 --> 00:17:32.400 align:start position:0% privacy is appropriate full of 00:17:32.400 --> 00:17:34.130 align:start position:0% privacy is appropriate full of information 00:17:34.130 --> 00:17:34.140 align:start position:0% information 00:17:34.140 --> 00:17:36.110 align:start position:0% information I don't<00:17:34.559> think<00:17:34.679> privacy<00:17:35.100> is<00:17:35.460> as<00:17:35.640> absolute 00:17:36.110 --> 00:17:36.120 align:start position:0% I don't think privacy is as absolute 00:17:36.120 --> 00:17:38.029 align:start position:0% I don't think privacy is as absolute notion<00:17:36.480> where<00:17:36.960> everything<00:17:37.620> should<00:17:37.919> be 00:17:38.029 --> 00:17:38.039 align:start position:0% notion where everything should be 00:17:38.039 --> 00:17:39.890 align:start position:0% notion where everything should be private<00:17:38.460> to<00:17:38.580> you<00:17:38.760> uh<00:17:39.480> you<00:17:39.600> know<00:17:39.720> there's 00:17:39.890 --> 00:17:39.900 align:start position:0% private to you uh you know there's 00:17:39.900 --> 00:17:43.130 align:start position:0% private to you uh you know there's there's<00:17:40.140> some<00:17:40.440> societal<00:17:41.100> like<00:17:41.600> consensus<00:17:42.600> on 00:17:43.130 --> 00:17:43.140 align:start position:0% there's some societal like consensus on 00:17:43.140 --> 00:17:44.630 align:start position:0% there's some societal like consensus on what<00:17:43.679> is<00:17:43.799> appropriate<00:17:44.220> for<00:17:44.340> a<00:17:44.460> lot<00:17:44.520> of 00:17:44.630 --> 00:17:44.640 align:start position:0% what is appropriate for a lot of 00:17:44.640 --> 00:17:46.909 align:start position:0% what is appropriate for a lot of information<00:17:44.760> right<00:17:45.539> and<00:17:46.140> everybody<00:17:46.380> can<00:17:46.740> have 00:17:46.909 --> 00:17:46.919 align:start position:0% information right and everybody can have 00:17:46.919 --> 00:17:49.250 align:start position:0% information right and everybody can have their<00:17:47.460> own<00:17:47.640> interpretation<00:17:48.360> of<00:17:48.539> that<00:17:48.780> you 00:17:49.250 --> 00:17:49.260 align:start position:0% their own interpretation of that you 00:17:49.260 --> 00:17:50.330 align:start position:0% their own interpretation of that you know 00:17:50.330 --> 00:17:50.340 align:start position:0% know 00:17:50.340 --> 00:17:52.430 align:start position:0% know um<00:17:50.400> government<00:17:50.940> agencies<00:17:51.539> have<00:17:51.960> their<00:17:52.320> own 00:17:52.430 --> 00:17:52.440 align:start position:0% um government agencies have their own 00:17:52.440 --> 00:17:54.950 align:start position:0% um government agencies have their own interpretation<00:17:53.059> individuals<00:17:54.059> in<00:17:54.419> ethereum 00:17:54.950 --> 00:17:54.960 align:start position:0% interpretation individuals in ethereum 00:17:54.960 --> 00:17:57.710 align:start position:0% interpretation individuals in ethereum community<00:17:55.260> can<00:17:55.620> have<00:17:55.799> you<00:17:56.160> know<00:17:56.760> you<00:17:57.299> know<00:17:57.600> our 00:17:57.710 --> 00:17:57.720 align:start position:0% community can have you know you know our 00:17:57.720 --> 00:17:59.510 align:start position:0% community can have you know you know our interpretation<00:17:58.320> uh<00:17:59.039> and<00:17:59.160> they<00:17:59.280> might<00:17:59.400> be 00:17:59.510 --> 00:17:59.520 align:start position:0% interpretation uh and they might be 00:17:59.520 --> 00:18:01.549 align:start position:0% interpretation uh and they might be incompatible 00:18:01.549 --> 00:18:01.559 align:start position:0% incompatible 00:18:01.559 --> 00:18:03.529 align:start position:0% incompatible but<00:18:01.980> I<00:18:02.100> think<00:18:02.220> as<00:18:02.640> Builders<00:18:03.120> we<00:18:03.299> should<00:18:03.419> be 00:18:03.529 --> 00:18:03.539 align:start position:0% but I think as Builders we should be 00:18:03.539 --> 00:18:05.930 align:start position:0% but I think as Builders we should be open<00:18:03.720> to<00:18:03.960> different 00:18:05.930 --> 00:18:05.940 align:start position:0% open to different 00:18:05.940 --> 00:18:08.029 align:start position:0% open to different versions<00:18:06.600> of<00:18:06.840> you<00:18:07.200> know<00:18:07.260> what<00:18:07.440> is<00:18:07.620> appropriate 00:18:08.029 --> 00:18:08.039 align:start position:0% versions of you know what is appropriate 00:18:08.039 --> 00:18:10.010 align:start position:0% versions of you know what is appropriate for<00:18:08.280> all<00:18:08.460> of<00:18:08.580> information<00:18:08.780> uh<00:18:09.780> because 00:18:10.010 --> 00:18:10.020 align:start position:0% for all of information uh because 00:18:10.020 --> 00:18:12.110 align:start position:0% for all of information uh because technology<00:18:10.440> is<00:18:10.620> really<00:18:11.100> flexible 00:18:12.110 --> 00:18:12.120 align:start position:0% technology is really flexible 00:18:12.120 --> 00:18:14.750 align:start position:0% technology is really flexible um<00:18:12.179> and<00:18:13.140> you<00:18:14.039> know 00:18:14.750 --> 00:18:14.760 align:start position:0% um and you know 00:18:14.760 --> 00:18:17.029 align:start position:0% um and you know over<00:18:15.120> time<00:18:15.419> there<00:18:16.320> should<00:18:16.620> there<00:18:16.799> will<00:18:16.919> be 00:18:17.029 --> 00:18:17.039 align:start position:0% over time there should there will be 00:18:17.039 --> 00:18:18.289 align:start position:0% over time there should there will be communities<00:18:17.280> that<00:18:17.520> might<00:18:17.700> be<00:18:17.820> incompatible 00:18:18.289 --> 00:18:18.299 align:start position:0% communities that might be incompatible 00:18:18.299 --> 00:18:19.610 align:start position:0% communities that might be incompatible but<00:18:18.539> like<00:18:18.660> you<00:18:18.780> know<00:18:18.900> we<00:18:19.020> should<00:18:19.140> work<00:18:19.320> towards 00:18:19.610 --> 00:18:19.620 align:start position:0% but like you know we should work towards 00:18:19.620 --> 00:18:21.650 align:start position:0% but like you know we should work towards the<00:18:19.679> solution<00:18:19.980> uh<00:18:20.820> that's<00:18:21.000> more<00:18:21.179> toward<00:18:21.539> the 00:18:21.650 --> 00:18:21.660 align:start position:0% the solution uh that's more toward the 00:18:21.660 --> 00:18:24.830 align:start position:0% the solution uh that's more toward the center<00:18:21.720> I<00:18:22.080> would<00:18:22.200> say<00:18:22.320> where<00:18:22.980> we<00:18:23.820> include<00:18:24.539> as 00:18:24.830 --> 00:18:24.840 align:start position:0% center I would say where we include as 00:18:24.840 --> 00:18:26.570 align:start position:0% center I would say where we include as many<00:18:25.080> users<00:18:25.440> in<00:18:25.559> your<00:18:25.679> ecosystem<00:18:25.980> as<00:18:26.280> possible 00:18:26.570 --> 00:18:26.580 align:start position:0% many users in your ecosystem as possible 00:18:26.580 --> 00:18:29.090 align:start position:0% many users in your ecosystem as possible yet<00:18:27.299> give<00:18:27.660> some<00:18:28.020> sort<00:18:28.140> of<00:18:28.260> control 00:18:29.090 --> 00:18:29.100 align:start position:0% yet give some sort of control 00:18:29.100 --> 00:18:33.890 align:start position:0% yet give some sort of control perhaps<00:18:30.140> maybe<00:18:31.140> to<00:18:31.919> some<00:18:32.220> set<00:18:32.460> of<00:18:32.640> people<00:18:32.900> to 00:18:33.890 --> 00:18:33.900 align:start position:0% perhaps maybe to some set of people to 00:18:33.900 --> 00:18:36.289 align:start position:0% perhaps maybe to some set of people to be<00:18:34.020> able<00:18:34.140> to<00:18:34.260> prevent<00:18:34.740> illicit<00:18:35.220> activities 00:18:36.289 --> 00:18:36.299 align:start position:0% be able to prevent illicit activities 00:18:36.299 --> 00:18:38.390 align:start position:0% be able to prevent illicit activities So<00:18:36.780> when<00:18:37.080> you<00:18:37.200> say<00:18:37.380> you're<00:18:37.620> we're<00:18:38.160> building 00:18:38.390 --> 00:18:38.400 align:start position:0% So when you say you're we're building 00:18:38.400 --> 00:18:41.510 align:start position:0% So when you say you're we're building this<00:18:38.580> already<00:18:38.760> how<00:18:39.360> far<00:18:39.539> have<00:18:39.660> you<00:18:39.840> got<00:18:40.280> uh<00:18:41.280> we 00:18:41.510 --> 00:18:41.520 align:start position:0% this already how far have you got uh we 00:18:41.520 --> 00:18:42.890 align:start position:0% this already how far have you got uh we have<00:18:41.640> prototype<00:18:42.179> contracts<00:18:42.539> you<00:18:42.780> know<00:18:42.840> it's 00:18:42.890 --> 00:18:42.900 align:start position:0% have prototype contracts you know it's 00:18:42.900 --> 00:18:46.850 align:start position:0% have prototype contracts you know it's very<00:18:43.140> early<00:18:43.260> stage<00:18:44.100> um<00:18:44.240> uh<00:18:45.240> yeah<00:18:45.720> so 00:18:46.850 --> 00:18:46.860 align:start position:0% very early stage um uh yeah so 00:18:46.860 --> 00:18:48.350 align:start position:0% very early stage um uh yeah so the<00:18:47.100> idea<00:18:47.400> has<00:18:47.640> been 00:18:48.350 --> 00:18:48.360 align:start position:0% the idea has been 00:18:48.360 --> 00:18:51.230 align:start position:0% the idea has been been<00:18:48.660> there<00:18:48.900> for<00:18:49.140> you<00:18:49.679> know<00:18:49.740> a<00:18:49.919> while<00:18:50.100> but 00:18:51.230 --> 00:18:51.240 align:start position:0% been there for you know a while but 00:18:51.240 --> 00:18:52.010 align:start position:0% been there for you know a while but um 00:18:52.010 --> 00:18:52.020 align:start position:0% um 00:18:52.020 --> 00:18:53.630 align:start position:0% um the<00:18:52.440> building<00:18:52.500> is<00:18:52.799> just<00:18:53.039> just<00:18:53.160> speaking<00:18:53.520> of 00:18:53.630 --> 00:18:53.640 align:start position:0% the building is just just speaking of 00:18:53.640 --> 00:18:55.610 align:start position:0% the building is just just speaking of traction<00:18:54.000> and<00:18:54.539> you<00:18:55.140> know<00:18:55.200> we'll<00:18:55.380> have 00:18:55.610 --> 00:18:55.620 align:start position:0% traction and you know we'll have 00:18:55.620 --> 00:18:57.650 align:start position:0% traction and you know we'll have basically<00:18:56.100> two<00:18:56.340> people<00:18:56.520> full-time<00:18:57.360> on<00:18:57.539> this 00:18:57.650 --> 00:18:57.660 align:start position:0% basically two people full-time on this 00:18:57.660 --> 00:19:01.490 align:start position:0% basically two people full-time on this but<00:18:57.900> why<00:18:58.140> not<00:18:58.700> embed<00:18:59.700> these<00:19:00.480> Innovations<00:19:01.080> into 00:19:01.490 --> 00:19:01.500 align:start position:0% but why not embed these Innovations into 00:19:01.500 --> 00:19:03.710 align:start position:0% but why not embed these Innovations into an<00:19:01.740> existing<00:19:02.039> contract<00:19:02.400> wallet<00:19:02.880> like<00:19:03.240> margin 00:19:03.710 --> 00:19:03.720 align:start position:0% an existing contract wallet like margin 00:19:03.720 --> 00:19:06.529 align:start position:0% an existing contract wallet like margin or<00:19:04.020> something<00:19:04.620> so<00:19:05.340> this<00:19:05.820> well<00:19:06.179> there's<00:19:06.419> many 00:19:06.529 --> 00:19:06.539 align:start position:0% or something so this well there's many 00:19:06.539 --> 00:19:07.850 align:start position:0% or something so this well there's many many<00:19:06.720> different<00:19:06.960> contract<00:19:07.260> was<00:19:07.440> out<00:19:07.740> there 00:19:07.850 --> 00:19:07.860 align:start position:0% many different contract was out there 00:19:07.860 --> 00:19:10.310 align:start position:0% many different contract was out there with<00:19:08.160> different<00:19:08.340> Focus<00:19:08.780> it's<00:19:09.780> this<00:19:10.080> is<00:19:10.200> a 00:19:10.310 --> 00:19:10.320 align:start position:0% with different Focus it's this is a 00:19:10.320 --> 00:19:12.230 align:start position:0% with different Focus it's this is a contractual<00:19:10.740> with<00:19:11.220> privacy 00:19:12.230 --> 00:19:12.240 align:start position:0% contractual with privacy 00:19:12.240 --> 00:19:13.490 align:start position:0% contractual with privacy um you<00:19:12.660> know<00:19:12.720> I<00:19:12.900> think<00:19:13.020> it<00:19:13.140> doesn't<00:19:13.320> make 00:19:13.490 --> 00:19:13.500 align:start position:0% um you know I think it doesn't make 00:19:13.500 --> 00:19:14.510 align:start position:0% um you know I think it doesn't make sense<00:19:13.679> to 00:19:14.510 --> 00:19:14.520 align:start position:0% sense to 00:19:14.520 --> 00:19:16.250 align:start position:0% sense to well<00:19:14.880> I<00:19:15.000> mean<00:19:15.120> we<00:19:15.299> could<00:19:15.419> take<00:19:15.600> existing<00:19:16.140> you 00:19:16.250 --> 00:19:16.260 align:start position:0% well I mean we could take existing you 00:19:16.260 --> 00:19:17.870 align:start position:0% well I mean we could take existing you know<00:19:16.320> we'll<00:19:16.860> take<00:19:17.160> the<00:19:17.280> existing<00:19:17.520> fourth<00:19:17.760> of 00:19:17.870 --> 00:19:17.880 align:start position:0% know we'll take the existing fourth of 00:19:17.880 --> 00:19:21.230 align:start position:0% know we'll take the existing fourth of the<00:19:18.000> seven<00:19:18.240> uh<00:19:18.900> you<00:19:19.020> know<00:19:19.679> standard<00:19:20.280> uh 00:19:21.230 --> 00:19:21.240 align:start position:0% the seven uh you know standard uh 00:19:21.240 --> 00:19:23.270 align:start position:0% the seven uh you know standard uh reference<00:19:21.539> code<00:19:21.720> base<00:19:21.960> and<00:19:22.260> just<00:19:22.860> you<00:19:23.220> know 00:19:23.270 --> 00:19:23.280 align:start position:0% reference code base and just you know 00:19:23.280 --> 00:19:25.430 align:start position:0% reference code base and just you know fit<00:19:23.400> this<00:19:23.580> into<00:19:23.820> there<00:19:24.600> um<00:19:24.660> if<00:19:24.900> the<00:19:25.080> main 00:19:25.430 --> 00:19:25.440 align:start position:0% fit this into there um if the main 00:19:25.440 --> 00:19:28.190 align:start position:0% fit this into there um if the main difficulties<00:19:25.860> is<00:19:26.100> actually<00:19:26.299> not<00:19:27.299> being<00:19:27.960> a 00:19:28.190 --> 00:19:28.200 align:start position:0% difficulties is actually not being a 00:19:28.200 --> 00:19:29.870 align:start position:0% difficulties is actually not being a contract<00:19:28.500> wallet<00:19:28.919> I'll<00:19:29.400> show<00:19:29.580> you<00:19:29.700> like<00:19:29.820> how 00:19:29.870 --> 00:19:29.880 align:start position:0% contract wallet I'll show you like how 00:19:29.880 --> 00:19:32.750 align:start position:0% contract wallet I'll show you like how to<00:19:30.000> add<00:19:30.179> privacy<00:19:31.020> I<00:19:31.620> think<00:19:31.740> because<00:19:32.340> when<00:19:32.580> you 00:19:32.750 --> 00:19:32.760 align:start position:0% to add privacy I think because when you 00:19:32.760 --> 00:19:35.510 align:start position:0% to add privacy I think because when you also<00:19:33.179> changed<00:19:33.360> the<00:19:33.419> front-end<00:19:33.720> apis<00:19:34.140> so<00:19:34.799> I 00:19:35.510 --> 00:19:35.520 align:start position:0% also changed the front-end apis so I 00:19:35.520 --> 00:19:37.130 align:start position:0% also changed the front-end apis so I mean<00:19:35.640> every<00:19:35.880> single<00:19:36.120> smart<00:19:36.360> contract<00:19:36.660> all<00:19:36.960> in 00:19:37.130 --> 00:19:37.140 align:start position:0% mean every single smart contract all in 00:19:37.140 --> 00:19:38.750 align:start position:0% mean every single smart contract all in have<00:19:37.559> to<00:19:37.740> do<00:19:37.860> this<00:19:37.919> but<00:19:38.160> like<00:19:38.220> I<00:19:38.400> think<00:19:38.460> for<00:19:38.640> for 00:19:38.750 --> 00:19:38.760 align:start position:0% have to do this but like I think for for 00:19:38.760 --> 00:19:41.630 align:start position:0% have to do this but like I think for for privacy<00:19:39.179> is<00:19:39.360> more<00:19:39.539> important<00:19:39.840> because<00:19:40.220> the<00:19:41.220> a 00:19:41.630 --> 00:19:41.640 align:start position:0% privacy is more important because the a 00:19:41.640 --> 00:19:43.010 align:start position:0% privacy is more important because the a lot<00:19:41.760> of<00:19:41.880> command<00:19:42.120> is<00:19:42.299> seem<00:19:42.480> to<00:19:42.600> change<00:19:42.780> right 00:19:43.010 --> 00:19:43.020 align:start position:0% lot of command is seem to change right 00:19:43.020 --> 00:19:45.230 align:start position:0% lot of command is seem to change right so<00:19:43.320> if<00:19:43.860> you<00:19:43.980> think<00:19:44.039> about<00:19:44.160> how<00:19:44.460> currently<00:19:45.059> you 00:19:45.230 --> 00:19:45.240 align:start position:0% so if you think about how currently you 00:19:45.240 --> 00:19:47.750 align:start position:0% so if you think about how currently you pull<00:19:45.360> balances<00:19:45.960> ready<00:19:46.200> accounts<00:19:47.039> you<00:19:47.520> first 00:19:47.750 --> 00:19:47.760 align:start position:0% pull balances ready accounts you first 00:19:47.760 --> 00:19:50.510 align:start position:0% pull balances ready accounts you first connect<00:19:48.000> your<00:19:48.360> wallet<00:19:48.660> you<00:19:49.440> pull<00:19:49.620> like<00:19:49.980> you 00:19:50.510 --> 00:19:50.520 align:start position:0% connect your wallet you pull like you 00:19:50.520 --> 00:19:51.830 align:start position:0% connect your wallet you pull like you know<00:19:50.640> what<00:19:50.940> is<00:19:51.059> the<00:19:51.179> connected<00:19:51.539> wallet 00:19:51.830 --> 00:19:51.840 align:start position:0% know what is the connected wallet 00:19:51.840 --> 00:19:53.570 align:start position:0% know what is the connected wallet address<00:19:51.960> and<00:19:52.559> you<00:19:52.740> like<00:19:52.860> go<00:19:53.100> to<00:19:53.220> the<00:19:53.280> contract 00:19:53.570 --> 00:19:53.580 align:start position:0% address and you like go to the contract 00:19:53.580 --> 00:19:55.370 align:start position:0% address and you like go to the contract and<00:19:53.820> pull<00:19:54.240> okay<00:19:54.480> what<00:19:54.720> is<00:19:54.840> your<00:19:54.960> action<00:19:55.140> that 00:19:55.370 --> 00:19:55.380 align:start position:0% and pull okay what is your action that 00:19:55.380 --> 00:19:57.169 align:start position:0% and pull okay what is your action that balance<00:19:55.679> that<00:19:56.280> cannot<00:19:56.520> be<00:19:56.640> made<00:19:56.760> privacy 00:19:57.169 --> 00:19:57.179 align:start position:0% balance that cannot be made privacy 00:19:57.179 --> 00:19:58.909 align:start position:0% balance that cannot be made privacy preserving<00:19:57.600> right<00:19:57.840> because<00:19:58.080> you<00:19:58.440> get<00:19:58.559> who<00:19:58.740> it 00:19:58.909 --> 00:19:58.919 align:start position:0% preserving right because you get who it 00:19:58.919 --> 00:20:00.230 align:start position:0% preserving right because you get who it is<00:19:59.039> so<00:19:59.460> you<00:19:59.580> have<00:19:59.700> to<00:19:59.820> change<00:19:59.940> that<00:20:00.059> into 00:20:00.230 --> 00:20:00.240 align:start position:0% is so you have to change that into 00:20:00.240 --> 00:20:02.870 align:start position:0% is so you have to change that into something<00:20:00.480> like<00:20:00.720> you<00:20:01.260> know<00:20:01.380> connect<00:20:02.160> to 00:20:02.870 --> 00:20:02.880 align:start position:0% something like you know connect to 00:20:02.880 --> 00:20:06.350 align:start position:0% something like you know connect to wallet<00:20:03.240> can<00:20:03.720> I<00:20:03.960> get<00:20:04.200> the<00:20:04.500> usdc<00:20:05.039> balance 00:20:06.350 --> 00:20:06.360 align:start position:0% wallet can I get the usdc balance 00:20:06.360 --> 00:20:07.850 align:start position:0% wallet can I get the usdc balance um you<00:20:06.660> know<00:20:06.780> so<00:20:06.900> so<00:20:07.140> a<00:20:07.380> lot<00:20:07.500> of<00:20:07.559> things<00:20:07.679> to 00:20:07.850 --> 00:20:07.860 align:start position:0% um you know so so a lot of things to 00:20:07.860 --> 00:20:10.549 align:start position:0% um you know so so a lot of things to change<00:20:08.160> uh<00:20:09.120> when<00:20:09.660> something<00:20:09.900> needs<00:20:10.200> to<00:20:10.260> be<00:20:10.380> you 00:20:10.549 --> 00:20:10.559 align:start position:0% change uh when something needs to be you 00:20:10.559 --> 00:20:12.830 align:start position:0% change uh when something needs to be you know<00:20:10.620> it's<00:20:10.980> you<00:20:11.400> want<00:20:11.520> to<00:20:11.640> imagine<00:20:11.880> a<00:20:12.299> privacy 00:20:12.830 --> 00:20:12.840 align:start position:0% know it's you want to imagine a privacy 00:20:12.840 --> 00:20:14.810 align:start position:0% know it's you want to imagine a privacy preserving<00:20:13.260> system<00:20:13.380> so 00:20:14.810 --> 00:20:14.820 align:start position:0% preserving system so 00:20:14.820 --> 00:20:16.789 align:start position:0% preserving system so I<00:20:15.179> would<00:20:15.360> love<00:20:15.539> to<00:20:15.660> collaborate<00:20:16.200> with<00:20:16.440> you 00:20:16.789 --> 00:20:16.799 align:start position:0% I would love to collaborate with you 00:20:16.799 --> 00:20:19.250 align:start position:0% I would love to collaborate with you know<00:20:16.919> uh<00:20:17.340> contract<00:20:17.640> wallet<00:20:18.059> projects<00:20:18.480> uh<00:20:19.140> and 00:20:19.250 --> 00:20:19.260 align:start position:0% know uh contract wallet projects uh and 00:20:19.260 --> 00:20:20.870 align:start position:0% know uh contract wallet projects uh and that's<00:20:19.380> also<00:20:19.740> another<00:20:19.860> reason<00:20:20.280> why<00:20:20.460> we're 00:20:20.870 --> 00:20:20.880 align:start position:0% that's also another reason why we're 00:20:20.880 --> 00:20:22.909 align:start position:0% that's also another reason why we're trying<00:20:21.360> to<00:20:21.539> stay<00:20:21.660> compatible<00:20:22.140> with<00:20:22.260> 437 00:20:22.909 --> 00:20:22.919 align:start position:0% trying to stay compatible with 437 00:20:22.919 --> 00:20:25.909 align:start position:0% trying to stay compatible with 437 because<00:20:23.580> we<00:20:23.880> can<00:20:24.059> reuse<00:20:24.539> uh<00:20:25.380> we<00:20:25.559> you<00:20:25.740> know<00:20:25.799> have 00:20:25.909 --> 00:20:25.919 align:start position:0% because we can reuse uh we you know have 00:20:25.919 --> 00:20:27.890 align:start position:0% because we can reuse uh we you know have the<00:20:26.100> same<00:20:26.220> bundler<00:20:26.640> infrastructure<00:20:27.480> and<00:20:27.780> this 00:20:27.890 --> 00:20:27.900 align:start position:0% the same bundler infrastructure and this 00:20:27.900 --> 00:20:29.750 align:start position:0% the same bundler infrastructure and this you<00:20:28.080> know<00:20:28.140> account<00:20:28.260> abstraction<00:20:28.740> man<00:20:29.039> pool<00:20:29.280> so 00:20:29.750 --> 00:20:29.760 align:start position:0% you know account abstraction man pool so 00:20:29.760 --> 00:20:31.850 align:start position:0% you know account abstraction man pool so we<00:20:30.000> will<00:20:30.120> be<00:20:30.299> part<00:20:30.419> of<00:20:30.539> that<00:20:30.660> ecosystem<00:20:31.020> and 00:20:31.850 --> 00:20:31.860 align:start position:0% we will be part of that ecosystem and 00:20:31.860 --> 00:20:35.029 align:start position:0% we will be part of that ecosystem and contribute<00:20:32.340> to<00:20:32.640> the<00:20:32.820> efforts<00:20:33.240> as<00:20:33.720> well 00:20:35.029 --> 00:20:35.039 align:start position:0% contribute to the efforts as well 00:20:35.039 --> 00:20:37.549 align:start position:0% contribute to the efforts as well great<00:20:35.400> Doug<00:20:35.700> thanks<00:20:35.940> uh<00:20:36.539> what<00:20:36.960> kind<00:20:37.200> of<00:20:37.320> uh 00:20:37.549 --> 00:20:37.559 align:start position:0% great Doug thanks uh what kind of uh 00:20:37.559 --> 00:20:39.409 align:start position:0% great Doug thanks uh what kind of uh what<00:20:37.919> kind<00:20:38.039> of<00:20:38.100> zero<00:20:38.460> knowledge<00:20:38.760> protocol<00:20:39.120> you 00:20:39.409 --> 00:20:39.419 align:start position:0% what kind of zero knowledge protocol you 00:20:39.419 --> 00:20:41.090 align:start position:0% what kind of zero knowledge protocol you decided<00:20:39.840> to<00:20:39.960> use 00:20:41.090 --> 00:20:41.100 align:start position:0% decided to use 00:20:41.100 --> 00:20:43.430 align:start position:0% decided to use um<00:20:41.220> yeah<00:20:41.460> so 00:20:43.430 --> 00:20:43.440 align:start position:0% um yeah so 00:20:43.440 --> 00:20:45.169 align:start position:0% um yeah so so<00:20:43.980> you<00:20:44.160> know<00:20:44.280> as<00:20:44.340> it<00:20:44.520> turns<00:20:44.760> out<00:20:44.820> the<00:20:44.940> easiest 00:20:45.169 --> 00:20:45.179 align:start position:0% so you know as it turns out the easiest 00:20:45.179 --> 00:20:46.430 align:start position:0% so you know as it turns out the easiest way<00:20:45.360> to<00:20:45.480> prototype<00:20:45.780> something<00:20:45.900> like<00:20:46.140> this<00:20:46.320> is 00:20:46.430 --> 00:20:46.440 align:start position:0% way to prototype something like this is 00:20:46.440 --> 00:20:48.409 align:start position:0% way to prototype something like this is circle<00:20:46.679> still<00:20:47.160> like<00:20:47.460> there's<00:20:47.580> nothing<00:20:47.820> better 00:20:48.409 --> 00:20:48.419 align:start position:0% circle still like there's nothing better 00:20:48.419 --> 00:20:50.390 align:start position:0% circle still like there's nothing better out<00:20:48.660> there<00:20:48.900> that<00:20:49.440> you<00:20:49.620> can<00:20:49.740> you<00:20:49.860> know<00:20:49.980> drive<00:20:50.220> a 00:20:50.390 --> 00:20:50.400 align:start position:0% out there that you can you know drive a 00:20:50.400 --> 00:20:51.590 align:start position:0% out there that you can you know drive a zero<00:20:50.580> dollar<00:20:50.640> shortcut<00:20:51.059> and<00:20:51.240> have<00:20:51.419> like 00:20:51.590 --> 00:20:51.600 align:start position:0% zero dollar shortcut and have like 00:20:51.600 --> 00:20:55.190 align:start position:0% zero dollar shortcut and have like solidly<00:20:52.200> verifier<00:20:52.919> and<00:20:53.520> like<00:20:53.760> a<00:20:54.419> you<00:20:55.140> know 00:20:55.190 --> 00:20:55.200 align:start position:0% solidly verifier and like a you know 00:20:55.200 --> 00:20:56.450 align:start position:0% solidly verifier and like a you know approval<00:20:55.679> that's<00:20:55.799> rather<00:20:56.039> than<00:20:56.160> like<00:20:56.280> a 00:20:56.450 --> 00:20:56.460 align:start position:0% approval that's rather than like a 00:20:56.460 --> 00:20:58.130 align:start position:0% approval that's rather than like a browser<00:20:56.760> circle<00:20:57.480> on<00:20:57.720> this<00:20:57.840> the<00:20:58.020> only 00:20:58.130 --> 00:20:58.140 align:start position:0% browser circle on this the only 00:20:58.140 --> 00:21:00.230 align:start position:0% browser circle on this the only ecosystem<00:20:58.860> so<00:20:59.220> this<00:20:59.340> is<00:20:59.460> like<00:20:59.640> another<00:20:59.760> ranks 00:21:00.230 --> 00:21:00.240 align:start position:0% ecosystem so this is like another ranks 00:21:00.240 --> 00:21:03.590 align:start position:0% ecosystem so this is like another ranks I<00:21:00.600> would<00:21:00.720> use<00:21:01.020> you<00:21:01.620> know<00:21:01.679> the<00:21:02.100> like<00:21:03.000> most 00:21:03.590 --> 00:21:03.600 align:start position:0% I would use you know the like most 00:21:03.600 --> 00:21:05.210 align:start position:0% I would use you know the like most efficient<00:21:03.960> proof<00:21:04.260> system<00:21:04.380> out<00:21:04.679> there<00:21:04.799> like<00:21:05.100> it 00:21:05.210 --> 00:21:05.220 align:start position:0% efficient proof system out there like it 00:21:05.220 --> 00:21:07.430 align:start position:0% efficient proof system out there like it probably<00:21:05.400> more<00:21:05.640> like<00:21:06.000> plunk<00:21:06.480> but<00:21:07.140> that 00:21:07.430 --> 00:21:07.440 align:start position:0% probably more like plunk but that 00:21:07.440 --> 00:21:09.590 align:start position:0% probably more like plunk but that tooling<00:21:07.799> is<00:21:07.860> not<00:21:08.039> there<00:21:08.640> um<00:21:08.700> and<00:21:09.299> also<00:21:09.480> like 00:21:09.590 --> 00:21:09.600 align:start position:0% tooling is not there um and also like 00:21:09.600 --> 00:21:11.870 align:start position:0% tooling is not there um and also like over<00:21:09.840> time<00:21:10.140> it<00:21:10.919> sounds<00:21:11.160> like<00:21:11.280> you're<00:21:11.400> familiar 00:21:11.870 --> 00:21:11.880 align:start position:0% over time it sounds like you're familiar 00:21:11.880 --> 00:21:12.890 align:start position:0% over time it sounds like you're familiar with<00:21:11.940> this<00:21:12.059> type<00:21:12.179> of<00:21:12.240> systems<00:21:12.539> but<00:21:12.660> like<00:21:12.780> over 00:21:12.890 --> 00:21:12.900 align:start position:0% with this type of systems but like over 00:21:12.900 --> 00:21:15.110 align:start position:0% with this type of systems but like over time<00:21:13.140> uh<00:21:13.919> there'll<00:21:14.280> be<00:21:14.340> like<00:21:14.460> kind<00:21:14.640> of<00:21:14.760> two 00:21:15.110 --> 00:21:15.120 align:start position:0% time uh there'll be like kind of two 00:21:15.120 --> 00:21:16.909 align:start position:0% time uh there'll be like kind of two separate<00:21:15.600> proof<00:21:16.080> systems<00:21:16.380> right<00:21:16.500> so<00:21:16.620> one<00:21:16.799> is 00:21:16.909 --> 00:21:16.919 align:start position:0% separate proof systems right so one is 00:21:16.919 --> 00:21:19.130 align:start position:0% separate proof systems right so one is on<00:21:17.039> the<00:21:17.160> user<00:21:17.460> side<00:21:17.580> where<00:21:18.480> you<00:21:18.840> essentially 00:21:19.130 --> 00:21:19.140 align:start position:0% on the user side where you essentially 00:21:19.140 --> 00:21:21.110 align:start position:0% on the user side where you essentially want<00:21:19.440> zero<00:21:20.160> knowledge<00:21:20.400> property<00:21:20.640> only<00:21:20.820> for 00:21:21.110 --> 00:21:21.120 align:start position:0% want zero knowledge property only for 00:21:21.120 --> 00:21:23.090 align:start position:0% want zero knowledge property only for privacy<00:21:21.480> uh<00:21:22.380> so<00:21:22.500> you<00:21:22.679> know<00:21:22.740> what<00:21:22.860> is<00:21:22.980> this 00:21:23.090 --> 00:21:23.100 align:start position:0% privacy uh so you know what is this 00:21:23.100 --> 00:21:25.850 align:start position:0% privacy uh so you know what is this thing<00:21:23.220> it's<00:21:24.120> a<00:21:24.360> the<00:21:25.020> overall<00:21:25.320> design<00:21:25.559> is<00:21:25.679> very 00:21:25.850 --> 00:21:25.860 align:start position:0% thing it's a the overall design is very 00:21:25.860 --> 00:21:27.289 align:start position:0% thing it's a the overall design is very similar<00:21:26.160> to<00:21:26.280> like<00:21:26.400> any<00:21:26.580> other<00:21:26.700> show<00:21:26.940> the<00:21:27.179> pool 00:21:27.289 --> 00:21:27.299 align:start position:0% similar to like any other show the pool 00:21:27.299 --> 00:21:29.470 align:start position:0% similar to like any other show the pool you<00:21:27.539> have<00:21:27.660> a<00:21:27.840> Merkel<00:21:28.320> tree<00:21:28.500> of<00:21:28.679> notes<00:21:29.039> right 00:21:29.470 --> 00:21:29.480 align:start position:0% you have a Merkel tree of notes right 00:21:29.480 --> 00:21:32.090 align:start position:0% you have a Merkel tree of notes right you're<00:21:30.480> referring<00:21:31.200> to<00:21:31.320> a<00:21:31.500> note<00:21:31.620> and<00:21:31.860> spinning 00:21:32.090 --> 00:21:32.100 align:start position:0% you're referring to a note and spinning 00:21:32.100 --> 00:21:33.770 align:start position:0% you're referring to a note and spinning it<00:21:32.280> without<00:21:32.460> revealing<00:21:32.940> which<00:21:33.120> no<00:21:33.299> you're 00:21:33.770 --> 00:21:33.780 align:start position:0% it without revealing which no you're 00:21:33.780 --> 00:21:35.450 align:start position:0% it without revealing which no you're you're<00:21:33.900> referring<00:21:34.440> to<00:21:34.559> right 00:21:35.450 --> 00:21:35.460 align:start position:0% you're referring to right 00:21:35.460 --> 00:21:37.130 align:start position:0% you're referring to right um<00:21:35.520> and<00:21:35.820> that<00:21:36.059> for<00:21:36.539> that<00:21:36.659> you<00:21:36.780> needs<00:21:37.020> your 00:21:37.130 --> 00:21:37.140 align:start position:0% um and that for that you needs your 00:21:37.140 --> 00:21:39.110 align:start position:0% um and that for that you needs your knowledge<00:21:37.440> to<00:21:37.559> preserve<00:21:38.039> your<00:21:38.100> privacy<00:21:38.400> and 00:21:39.110 --> 00:21:39.120 align:start position:0% knowledge to preserve your privacy and 00:21:39.120 --> 00:21:40.430 align:start position:0% knowledge to preserve your privacy and you<00:21:39.419> actually<00:21:39.600> don't<00:21:39.960> really<00:21:40.200> use 00:21:40.430 --> 00:21:40.440 align:start position:0% you actually don't really use 00:21:40.440 --> 00:21:42.289 align:start position:0% you actually don't really use extinctions<00:21:41.159> and<00:21:41.580> we're<00:21:41.760> going<00:21:42.000> to<00:21:42.059> have<00:21:42.179> this 00:21:42.289 --> 00:21:42.299 align:start position:0% extinctions and we're going to have this 00:21:42.299 --> 00:21:44.090 align:start position:0% extinctions and we're going to have this like<00:21:42.419> aggregation<00:21:42.900> layer<00:21:43.200> that<00:21:43.380> roll<00:21:43.860> up 00:21:44.090 --> 00:21:44.100 align:start position:0% like aggregation layer that roll up 00:21:44.100 --> 00:21:46.909 align:start position:0% like aggregation layer that roll up these<00:21:44.520> user<00:21:45.360> spending<00:21:45.720> proofs<00:21:46.020> and<00:21:46.620> for<00:21:46.740> that 00:21:46.909 --> 00:21:46.919 align:start position:0% these user spending proofs and for that 00:21:46.919 --> 00:21:48.649 align:start position:0% these user spending proofs and for that you<00:21:47.159> really<00:21:47.280> want<00:21:47.580> to<00:21:47.700> synchronous<00:21:48.299> right<00:21:48.419> you 00:21:48.649 --> 00:21:48.659 align:start position:0% you really want to synchronous right you 00:21:48.659 --> 00:21:50.210 align:start position:0% you really want to synchronous right you want<00:21:48.780> to<00:21:48.960> be<00:21:49.020> able<00:21:49.140> to<00:21:49.260> verify<00:21:49.679> on<00:21:50.039> the 00:21:50.210 --> 00:21:50.220 align:start position:0% want to be able to verify on the 00:21:50.220 --> 00:21:51.590 align:start position:0% want to be able to verify on the contract<00:21:50.460> side<00:21:50.700> really<00:21:50.880> efficiently<00:21:51.299> right 00:21:51.590 --> 00:21:51.600 align:start position:0% contract side really efficiently right 00:21:51.600 --> 00:21:54.470 align:start position:0% contract side really efficiently right and<00:21:52.140> so<00:21:52.380> uh<00:21:53.220> you<00:21:53.400> know<00:21:53.520> I<00:21:53.880> think<00:21:54.000> this<00:21:54.120> this<00:21:54.360> is 00:21:54.470 --> 00:21:54.480 align:start position:0% and so uh you know I think this this is 00:21:54.480 --> 00:21:55.669 align:start position:0% and so uh you know I think this this is something<00:21:54.600> that<00:21:54.780> have<00:21:54.900> been<00:21:55.080> discussed<00:21:55.380> a<00:21:55.559> lot 00:21:55.669 --> 00:21:55.679 align:start position:0% something that have been discussed a lot 00:21:55.679 --> 00:21:58.070 align:start position:0% something that have been discussed a lot in<00:21:56.100> Devcon<00:21:56.640> in<00:21:57.240> the<00:21:57.360> past<00:21:57.480> couple<00:21:57.659> days<00:21:57.840> which 00:21:58.070 --> 00:21:58.080 align:start position:0% in Devcon in the past couple days which 00:21:58.080 --> 00:21:59.930 align:start position:0% in Devcon in the past couple days which is<00:21:58.320> you<00:21:58.679> have<00:21:58.799> the<00:21:58.919> notion<00:21:59.220> of<00:21:59.280> inner<00:21:59.640> proof 00:21:59.930 --> 00:21:59.940 align:start position:0% is you have the notion of inner proof 00:21:59.940 --> 00:22:01.549 align:start position:0% is you have the notion of inner proof and<00:22:00.179> outer<00:22:00.539> proof<00:22:00.780> right<00:22:00.900> so<00:22:01.080> for<00:22:01.260> us<00:22:01.440> this 00:22:01.549 --> 00:22:01.559 align:start position:0% and outer proof right so for us this 00:22:01.559 --> 00:22:03.590 align:start position:0% and outer proof right so for us this inner<00:22:01.860> proof<00:22:02.039> will<00:22:02.159> basically<00:22:02.460> be<00:22:02.700> the<00:22:03.240> user 00:22:03.590 --> 00:22:03.600 align:start position:0% inner proof will basically be the user 00:22:03.600 --> 00:22:05.450 align:start position:0% inner proof will basically be the user proof<00:22:03.900> that<00:22:04.380> has<00:22:04.620> zero<00:22:04.980> knowledge<00:22:05.159> right<00:22:05.280> we 00:22:05.450 --> 00:22:05.460 align:start position:0% proof that has zero knowledge right we 00:22:05.460 --> 00:22:07.909 align:start position:0% proof that has zero knowledge right we can<00:22:05.580> use<00:22:05.760> I<00:22:06.600> think<00:22:06.900> over<00:22:07.140> time<00:22:07.380> you<00:22:07.559> know<00:22:07.679> which 00:22:07.909 --> 00:22:07.919 align:start position:0% can use I think over time you know which 00:22:07.919 --> 00:22:09.710 align:start position:0% can use I think over time you know which we'll<00:22:08.580> probably<00:22:08.760> evaluate<00:22:09.179> things<00:22:09.419> that's 00:22:09.710 --> 00:22:09.720 align:start position:0% we'll probably evaluate things that's 00:22:09.720 --> 00:22:11.990 align:start position:0% we'll probably evaluate things that's really<00:22:10.260> fast<00:22:10.440> in<00:22:10.559> the<00:22:10.679> browser<00:22:10.980> adds<00:22:11.760> to<00:22:11.880> your 00:22:11.990 --> 00:22:12.000 align:start position:0% really fast in the browser adds to your 00:22:12.000 --> 00:22:13.610 align:start position:0% really fast in the browser adds to your knowledge<00:22:12.299> and<00:22:12.840> maybe<00:22:12.960> some<00:22:13.320> type<00:22:13.500> of 00:22:13.610 --> 00:22:13.620 align:start position:0% knowledge and maybe some type of 00:22:13.620 --> 00:22:14.810 align:start position:0% knowledge and maybe some type of compression<00:22:14.100> you<00:22:14.400> know<00:22:14.460> it's<00:22:14.520> like<00:22:14.700> maybe 00:22:14.810 --> 00:22:14.820 align:start position:0% compression you know it's like maybe 00:22:14.820 --> 00:22:16.310 align:start position:0% compression you know it's like maybe Spartan<00:22:15.299> or<00:22:15.480> something<00:22:15.600> and<00:22:15.840> then<00:22:15.960> on<00:22:16.200> the 00:22:16.310 --> 00:22:16.320 align:start position:0% Spartan or something and then on the 00:22:16.320 --> 00:22:18.470 align:start position:0% Spartan or something and then on the outer<00:22:16.679> proof<00:22:16.980> we'll<00:22:17.400> have<00:22:17.640> you<00:22:18.059> know<00:22:18.179> probably 00:22:18.470 --> 00:22:18.480 align:start position:0% outer proof we'll have you know probably 00:22:18.480 --> 00:22:20.210 align:start position:0% outer proof we'll have you know probably gross<00:22:18.960> 16<00:22:19.080> or<00:22:19.380> Planck<00:22:19.799> that<00:22:20.100> really 00:22:20.210 --> 00:22:20.220 align:start position:0% gross 16 or Planck that really 00:22:20.220 --> 00:22:23.149 align:start position:0% gross 16 or Planck that really compresses<00:22:20.760> the<00:22:21.000> other<00:22:21.480> proofs<00:22:22.200> right 00:22:23.149 --> 00:22:23.159 align:start position:0% compresses the other proofs right 00:22:23.159 --> 00:22:26.810 align:start position:0% compresses the other proofs right um yeah<00:22:24.059> so<00:22:24.960> one<00:22:25.140> approach<00:22:25.620> to<00:22:26.280> solving<00:22:26.640> this 00:22:26.810 --> 00:22:26.820 align:start position:0% um yeah so one approach to solving this 00:22:26.820 --> 00:22:28.970 align:start position:0% um yeah so one approach to solving this problem<00:22:27.059> would<00:22:27.480> be<00:22:27.780> to<00:22:28.260> make<00:22:28.440> backwards 00:22:28.970 --> 00:22:28.980 align:start position:0% problem would be to make backwards 00:22:28.980 --> 00:22:30.130 align:start position:0% problem would be to make backwards compatible 00:22:30.130 --> 00:22:30.140 align:start position:0% compatible 00:22:30.140 --> 00:22:33.470 align:start position:0% compatible contracts<00:22:31.140> on<00:22:31.500> ethereum<00:22:32.460> other<00:22:32.940> approaches 00:22:33.470 --> 00:22:33.480 align:start position:0% contracts on ethereum other approaches 00:22:33.480 --> 00:22:36.950 align:start position:0% contracts on ethereum other approaches might<00:22:33.780> be<00:22:34.100> to<00:22:35.100> wait<00:22:35.700> until<00:22:36.000> there's<00:22:36.360> an<00:22:36.600> L2 00:22:36.950 --> 00:22:36.960 align:start position:0% might be to wait until there's an L2 00:22:36.960 --> 00:22:39.409 align:start position:0% might be to wait until there's an L2 that<00:22:37.320> has<00:22:37.559> more<00:22:37.980> Primitives<00:22:38.580> built<00:22:39.059> in<00:22:39.120> that 00:22:39.409 --> 00:22:39.419 align:start position:0% that has more Primitives built in that 00:22:39.419 --> 00:22:43.430 align:start position:0% that has more Primitives built in that support<00:22:39.600> this<00:22:39.960> and<00:22:40.799> I'm<00:22:40.980> just<00:22:41.340> curious<00:22:41.760> to 00:22:43.430 --> 00:22:43.440 align:start position:0% support this and I'm just curious to 00:22:43.440 --> 00:22:45.470 align:start position:0% support this and I'm just curious to learn<00:22:43.860> more<00:22:44.039> about<00:22:44.220> your<00:22:44.520> thinking<00:22:44.820> of<00:22:45.059> if<00:22:45.299> it 00:22:45.470 --> 00:22:45.480 align:start position:0% learn more about your thinking of if it 00:22:45.480 --> 00:22:47.810 align:start position:0% learn more about your thinking of if it ever<00:22:45.600> makes<00:22:45.840> sense<00:22:46.080> that<00:22:46.440> privacy<00:22:46.860> will<00:22:47.159> be<00:22:47.400> in 00:22:47.810 --> 00:22:47.820 align:start position:0% ever makes sense that privacy will be in 00:22:47.820 --> 00:22:50.450 align:start position:0% ever makes sense that privacy will be in one<00:22:48.000> place<00:22:48.240> and<00:22:49.039> non-private<00:22:50.039> things<00:22:50.159> can 00:22:50.450 --> 00:22:50.460 align:start position:0% one place and non-private things can 00:22:50.460 --> 00:22:52.549 align:start position:0% one place and non-private things can exist<00:22:50.820> in<00:22:51.480> another 00:22:52.549 --> 00:22:52.559 align:start position:0% exist in another 00:22:52.559 --> 00:22:53.930 align:start position:0% exist in another I<00:22:52.980> think 00:22:53.930 --> 00:22:53.940 align:start position:0% I think 00:22:53.940 --> 00:22:56.570 align:start position:0% I think yeah<00:22:54.480> so<00:22:54.900> yeah<00:22:55.440> the<00:22:55.620> question<00:22:55.860> is<00:22:55.980> you<00:22:56.220> know<00:22:56.340> do 00:22:56.570 --> 00:22:56.580 align:start position:0% yeah so yeah the question is you know do 00:22:56.580 --> 00:22:58.010 align:start position:0% yeah so yeah the question is you know do we<00:22:56.700> build<00:22:57.000> privacy<00:22:57.360> sources<00:22:57.659> on<00:22:57.840> top<00:22:57.900> of 00:22:58.010 --> 00:22:58.020 align:start position:0% we build privacy sources on top of 00:22:58.020 --> 00:22:59.990 align:start position:0% we build privacy sources on top of existing<00:22:58.440> things<00:22:58.620> where<00:22:59.100> do<00:22:59.280> we<00:22:59.460> build<00:22:59.640> a<00:22:59.820> new 00:22:59.990 --> 00:23:00.000 align:start position:0% existing things where do we build a new 00:23:00.000 --> 00:23:01.789 align:start position:0% existing things where do we build a new ecosystem<00:23:00.419> to<00:23:00.780> build<00:23:00.900> privacy<00:23:01.320> presumed 00:23:01.789 --> 00:23:01.799 align:start position:0% ecosystem to build privacy presumed 00:23:01.799 --> 00:23:03.590 align:start position:0% ecosystem to build privacy presumed Solutions<00:23:02.100> and<00:23:02.640> I<00:23:02.760> think<00:23:02.880> the<00:23:03.299> key<00:23:03.419> question 00:23:03.590 --> 00:23:03.600 align:start position:0% Solutions and I think the key question 00:23:03.600 --> 00:23:05.930 align:start position:0% Solutions and I think the key question is<00:23:03.840> what<00:23:04.320> are<00:23:04.500> the<00:23:04.620> Privacy<00:23:04.980> supported<00:23:05.640> and 00:23:05.930 --> 00:23:05.940 align:start position:0% is what are the Privacy supported and 00:23:05.940 --> 00:23:07.070 align:start position:0% is what are the Privacy supported and what<00:23:06.120> is<00:23:06.240> the<00:23:06.419> features<00:23:06.720> of<00:23:06.900> those 00:23:07.070 --> 00:23:07.080 align:start position:0% what is the features of those 00:23:07.080 --> 00:23:09.649 align:start position:0% what is the features of those applications<00:23:07.559> and 00:23:09.649 --> 00:23:09.659 align:start position:0% applications and 00:23:09.659 --> 00:23:12.230 align:start position:0% applications and um<00:23:09.720> so<00:23:10.280> it<00:23:11.280> turns<00:23:11.640> out<00:23:11.700> that<00:23:11.820> the<00:23:12.000> short<00:23:12.059> answer 00:23:12.230 --> 00:23:12.240 align:start position:0% um so it turns out that the short answer 00:23:12.240 --> 00:23:15.350 align:start position:0% um so it turns out that the short answer is<00:23:12.799> there's<00:23:13.799> no<00:23:14.220> privacy<00:23:14.940> preserving 00:23:15.350 --> 00:23:15.360 align:start position:0% is there's no privacy preserving 00:23:15.360 --> 00:23:17.750 align:start position:0% is there's no privacy preserving ecosystem<00:23:15.780> right<00:23:16.080> now<00:23:16.260> out<00:23:16.559> there<00:23:16.760> that 00:23:17.750 --> 00:23:17.760 align:start position:0% ecosystem right now out there that 00:23:17.760 --> 00:23:19.730 align:start position:0% ecosystem right now out there that actually<00:23:17.940> support<00:23:18.179> more<00:23:18.539> features<00:23:19.020> the 00:23:19.730 --> 00:23:19.740 align:start position:0% actually support more features the 00:23:19.740 --> 00:23:22.430 align:start position:0% actually support more features the anonymity<00:23:20.280> okay<00:23:21.000> so<00:23:21.179> if<00:23:21.299> you<00:23:21.360> look<00:23:21.480> at<00:23:21.600> like<00:23:21.900> a 00:23:22.430 --> 00:23:22.440 align:start position:0% anonymity okay so if you look at like a 00:23:22.440 --> 00:23:25.669 align:start position:0% anonymity okay so if you look at like a Leo<00:23:22.799> uh<00:23:23.520> or<00:23:23.640> like<00:23:23.880> Mina<00:23:24.240> it's<00:23:25.140> really<00:23:25.320> just<00:23:25.500> a 00:23:25.669 --> 00:23:25.679 align:start position:0% Leo uh or like Mina it's really just a 00:23:25.679 --> 00:23:27.770 align:start position:0% Leo uh or like Mina it's really just a solution<00:23:25.980> to<00:23:26.220> build<00:23:26.280> roll<00:23:26.520> ups<00:23:26.820> like<00:23:27.179> you<00:23:27.659> know 00:23:27.770 --> 00:23:27.780 align:start position:0% solution to build roll ups like you know 00:23:27.780 --> 00:23:30.350 align:start position:0% solution to build roll ups like you know with<00:23:28.620> zero<00:23:28.919> knowledge<00:23:29.159> you<00:23:29.760> cannot<00:23:30.059> get 00:23:30.350 --> 00:23:30.360 align:start position:0% with zero knowledge you cannot get 00:23:30.360 --> 00:23:32.330 align:start position:0% with zero knowledge you cannot get privacy<00:23:30.960> for<00:23:31.140> share<00:23:31.380> States<00:23:31.620> so<00:23:31.919> I<00:23:32.100> actually 00:23:32.330 --> 00:23:32.340 align:start position:0% privacy for share States so I actually 00:23:32.340 --> 00:23:34.430 align:start position:0% privacy for share States so I actually discussed<00:23:32.820> this<00:23:32.940> in<00:23:33.120> another<00:23:33.240> toggle<00:23:33.720> mine<00:23:33.900> so 00:23:34.430 --> 00:23:34.440 align:start position:0% discussed this in another toggle mine so 00:23:34.440 --> 00:23:35.930 align:start position:0% discussed this in another toggle mine so if<00:23:34.620> you<00:23:34.740> think<00:23:34.860> about<00:23:34.980> the<00:23:35.159> features<00:23:35.580> we<00:23:35.760> can 00:23:35.930 --> 00:23:35.940 align:start position:0% if you think about the features we can 00:23:35.940 --> 00:23:38.690 align:start position:0% if you think about the features we can support<00:23:36.120> I<00:23:36.720> think<00:23:37.020> unless<00:23:37.500> you<00:23:37.860> have<00:23:38.039> vastly 00:23:38.690 --> 00:23:38.700 align:start position:0% support I think unless you have vastly 00:23:38.700 --> 00:23:40.850 align:start position:0% support I think unless you have vastly more<00:23:39.360> capabilities<00:23:39.840> to<00:23:40.200> support<00:23:40.380> privacy 00:23:40.850 --> 00:23:40.860 align:start position:0% more capabilities to support privacy 00:23:40.860 --> 00:23:42.710 align:start position:0% more capabilities to support privacy Brazil<00:23:41.220> Solutions<00:23:41.580> which<00:23:42.179> I<00:23:42.419> think<00:23:42.539> is 00:23:42.710 --> 00:23:42.720 align:start position:0% Brazil Solutions which I think is 00:23:42.720 --> 00:23:45.110 align:start position:0% Brazil Solutions which I think is actually<00:23:42.960> in<00:23:43.200> the<00:23:43.320> privacy<00:23:43.559> of<00:23:43.679> share<00:23:43.919> State 00:23:45.110 --> 00:23:45.120 align:start position:0% actually in the privacy of share State 00:23:45.120 --> 00:23:47.210 align:start position:0% actually in the privacy of share State um it<00:23:45.539> doesn't<00:23:45.659> make<00:23:46.020> sense<00:23:46.260> to<00:23:46.860> have<00:23:47.039> a 00:23:47.210 --> 00:23:47.220 align:start position:0% um it doesn't make sense to have a 00:23:47.220 --> 00:23:48.770 align:start position:0% um it doesn't make sense to have a complete<00:23:47.460> brand<00:23:47.580> new<00:23:47.760> ecosystem<00:23:48.179> because 00:23:48.770 --> 00:23:48.780 align:start position:0% complete brand new ecosystem because 00:23:48.780 --> 00:23:50.750 align:start position:0% complete brand new ecosystem because privacy<00:23:49.380> that<00:23:49.500> that's<00:23:49.860> achievable<00:23:50.340> is<00:23:50.580> the 00:23:50.750 --> 00:23:50.760 align:start position:0% privacy that that's achievable is the 00:23:50.760 --> 00:23:54.529 align:start position:0% privacy that that's achievable is the same<00:23:51.320> so<00:23:52.320> there's<00:23:52.620> no<00:23:52.919> benefit<00:23:53.220> to<00:23:53.880> building<00:23:54.299> a 00:23:54.529 --> 00:23:54.539 align:start position:0% same so there's no benefit to building a 00:23:54.539 --> 00:23:56.630 align:start position:0% same so there's no benefit to building a new<00:23:54.659> ecosystem<00:23:55.020> that<00:23:55.799> do<00:23:56.039> the<00:23:56.220> same<00:23:56.400> thing 00:23:56.630 --> 00:23:56.640 align:start position:0% new ecosystem that do the same thing 00:23:56.640 --> 00:23:59.810 align:start position:0% new ecosystem that do the same thing right<00:23:57.240> so<00:23:57.600> therefore<00:23:58.159> so<00:23:59.159> if<00:23:59.340> that's<00:23:59.520> the<00:23:59.640> case 00:23:59.810 --> 00:23:59.820 align:start position:0% right so therefore so if that's the case 00:23:59.820 --> 00:24:01.310 align:start position:0% right so therefore so if that's the case we<00:24:00.059> should<00:24:00.240> build<00:24:00.360> on<00:24:00.539> top<00:24:00.720> of<00:24:00.840> the<00:24:00.960> existing 00:24:01.310 --> 00:24:01.320 align:start position:0% we should build on top of the existing 00:24:01.320 --> 00:24:03.350 align:start position:0% we should build on top of the existing ecosystems<00:24:02.159> because<00:24:02.520> everyone<00:24:02.820> is<00:24:03.120> there 00:24:03.350 --> 00:24:03.360 align:start position:0% ecosystems because everyone is there 00:24:03.360 --> 00:24:05.649 align:start position:0% ecosystems because everyone is there we're<00:24:04.200> desperately<00:24:04.559> need<00:24:04.679> privacy<00:24:05.039> Solutions 00:24:05.649 --> 00:24:05.659 align:start position:0% we're desperately need privacy Solutions 00:24:05.659 --> 00:24:08.630 align:start position:0% we're desperately need privacy Solutions and<00:24:06.659> it's<00:24:06.960> possible<00:24:07.260> to<00:24:07.380> build<00:24:07.500> it<00:24:07.679> so<00:24:07.980> you 00:24:08.630 --> 00:24:08.640 align:start position:0% and it's possible to build it so you 00:24:08.640 --> 00:24:11.330 align:start position:0% and it's possible to build it so you know<00:24:08.760> let's<00:24:09.299> not<00:24:09.600> reinvent<00:24:10.080> the<00:24:10.200> wheel 00:24:11.330 --> 00:24:11.340 align:start position:0% know let's not reinvent the wheel 00:24:11.340 --> 00:24:13.909 align:start position:0% know let's not reinvent the wheel is<00:24:11.700> it<00:24:11.820> working<00:24:12.000> yep<00:24:12.539> so<00:24:13.260> it<00:24:13.380> sounds<00:24:13.559> like<00:24:13.799> you 00:24:13.909 --> 00:24:13.919 align:start position:0% is it working yep so it sounds like you 00:24:13.919 --> 00:24:16.730 align:start position:0% is it working yep so it sounds like you need<00:24:14.100> a<00:24:14.280> sequence<00:24:14.760> of<00:24:15.260> maintaining<00:24:16.260> the<00:24:16.440> Marco 00:24:16.730 --> 00:24:16.740 align:start position:0% need a sequence of maintaining the Marco 00:24:16.740 --> 00:24:18.350 align:start position:0% need a sequence of maintaining the Marco tree<00:24:17.039> have<00:24:17.280> you<00:24:17.400> got<00:24:17.520> thoughts<00:24:17.760> on<00:24:17.880> how<00:24:18.179> you're 00:24:18.350 --> 00:24:18.360 align:start position:0% tree have you got thoughts on how you're 00:24:18.360 --> 00:24:20.330 align:start position:0% tree have you got thoughts on how you're going<00:24:18.419> to<00:24:18.600> decentralize<00:24:19.320> that<00:24:19.559> or<00:24:20.039> whether 00:24:20.330 --> 00:24:20.340 align:start position:0% going to decentralize that or whether 00:24:20.340 --> 00:24:21.230 align:start position:0% going to decentralize that or whether you<00:24:20.520> will 00:24:21.230 --> 00:24:21.240 align:start position:0% you will 00:24:21.240 --> 00:24:22.610 align:start position:0% you will yeah 00:24:22.610 --> 00:24:22.620 align:start position:0% yeah 00:24:22.620 --> 00:24:24.950 align:start position:0% yeah so<00:24:23.340> there's<00:24:24.059> actually<00:24:24.240> kind<00:24:24.539> of<00:24:24.600> two<00:24:24.720> two 00:24:24.950 --> 00:24:24.960 align:start position:0% so there's actually kind of two two 00:24:24.960 --> 00:24:26.029 align:start position:0% so there's actually kind of two two different<00:24:25.080> things<00:24:25.260> right<00:24:25.380> so<00:24:25.559> four<00:24:25.860> four 00:24:26.029 --> 00:24:26.039 align:start position:0% different things right so four four 00:24:26.039 --> 00:24:27.470 align:start position:0% different things right so four four three<00:24:26.220> three<00:24:26.400> seven<00:24:26.640> you<00:24:26.880> have<00:24:27.000> the<00:24:27.059> notion<00:24:27.299> of 00:24:27.470 --> 00:24:27.480 align:start position:0% three three seven you have the notion of 00:24:27.480 --> 00:24:28.850 align:start position:0% three three seven you have the notion of bundlers 00:24:28.850 --> 00:24:28.860 align:start position:0% bundlers 00:24:28.860 --> 00:24:30.890 align:start position:0% bundlers um<00:24:28.919> and 00:24:30.890 --> 00:24:30.900 align:start position:0% um and 00:24:30.900 --> 00:24:33.110 align:start position:0% um and and<00:24:31.500> we<00:24:31.980> could<00:24:32.100> basically<00:24:32.340> use<00:24:32.520> that<00:24:32.700> so<00:24:32.880> we 00:24:33.110 --> 00:24:33.120 align:start position:0% and we could basically use that so we 00:24:33.120 --> 00:24:36.409 align:start position:0% and we could basically use that so we could<00:24:33.240> actually<00:24:33.780> so<00:24:34.200> bundlers 00:24:36.409 --> 00:24:36.419 align:start position:0% could actually so bundlers 00:24:36.419 --> 00:24:38.029 align:start position:0% could actually so bundlers um<00:24:36.539> so<00:24:36.960> I<00:24:37.140> think<00:24:37.320> it's<00:24:37.380> yet<00:24:37.559> to<00:24:37.740> determine 00:24:38.029 --> 00:24:38.039 align:start position:0% um so I think it's yet to determine 00:24:38.039 --> 00:24:40.730 align:start position:0% um so I think it's yet to determine exactly<00:24:38.340> what's<00:24:38.460> in<00:24:38.640> the<00:24:38.820> standards<00:24:39.179> but<00:24:40.020> uh 00:24:40.730 --> 00:24:40.740 align:start position:0% exactly what's in the standards but uh 00:24:40.740 --> 00:24:41.990 align:start position:0% exactly what's in the standards but uh isn't<00:24:41.159> that<00:24:41.280> for<00:24:41.400> every<00:24:41.520> single<00:24:41.700> contract 00:24:41.990 --> 00:24:42.000 align:start position:0% isn't that for every single contract 00:24:42.000 --> 00:24:43.610 align:start position:0% isn't that for every single contract wallet<00:24:42.299> bundler<00:24:42.659> needs<00:24:43.020> to<00:24:43.080> run<00:24:43.140> custom<00:24:43.320> code 00:24:43.610 --> 00:24:43.620 align:start position:0% wallet bundler needs to run custom code 00:24:43.620 --> 00:24:45.230 align:start position:0% wallet bundler needs to run custom code to<00:24:43.860> be<00:24:43.980> able<00:24:44.100> to<00:24:44.159> compress<00:24:44.520> different<00:24:44.880> user 00:24:45.230 --> 00:24:45.240 align:start position:0% to be able to compress different user 00:24:45.240 --> 00:24:48.110 align:start position:0% to be able to compress different user operations<00:24:45.539> to<00:24:45.900> one<00:24:46.020> uh<00:24:46.740> so<00:24:46.980> we<00:24:47.159> could 00:24:48.110 --> 00:24:48.120 align:start position:0% operations to one uh so we could 00:24:48.120 --> 00:24:49.370 align:start position:0% operations to one uh so we could it's<00:24:48.480> interesting<00:24:48.780> compatible<00:24:49.140> to<00:24:49.260> that 00:24:49.370 --> 00:24:49.380 align:start position:0% it's interesting compatible to that 00:24:49.380 --> 00:24:50.510 align:start position:0% it's interesting compatible to that standards<00:24:49.740> when<00:24:49.919> you<00:24:50.100> know<00:24:50.159> when<00:24:50.280> it's<00:24:50.400> more 00:24:50.510 --> 00:24:50.520 align:start position:0% standards when you know when it's more 00:24:50.520 --> 00:24:53.810 align:start position:0% standards when you know when it's more finalized<00:24:51.000> to<00:24:51.480> be<00:24:51.720> able<00:24:51.840> you<00:24:52.080> know<00:24:52.140> to<00:24:52.440> to<00:24:52.559> have 00:24:53.810 --> 00:24:53.820 align:start position:0% finalized to be able you know to to have 00:24:53.820 --> 00:24:56.270 align:start position:0% finalized to be able you know to to have essentially<00:24:54.500> supplied<00:24:55.500> into<00:24:55.679> that<00:24:55.919> ecosystem 00:24:56.270 --> 00:24:56.280 align:start position:0% essentially supplied into that ecosystem 00:24:56.280 --> 00:24:58.370 align:start position:0% essentially supplied into that ecosystem right<00:24:56.580> so<00:24:56.760> it<00:24:57.000> could<00:24:57.360> be<00:24:57.480> like<00:24:57.600> different<00:24:57.720> 437 00:24:58.370 --> 00:24:58.380 align:start position:0% right so it could be like different 437 00:24:58.380 --> 00:24:59.750 align:start position:0% right so it could be like different 437 bundlers<00:24:58.860> that's<00:24:59.220> supporting<00:24:59.580> different 00:24:59.750 --> 00:24:59.760 align:start position:0% bundlers that's supporting different 00:24:59.760 --> 00:25:01.310 align:start position:0% bundlers that's supporting different smart<00:25:00.000> contract<00:25:00.360> wallets<00:25:00.659> and<00:25:00.900> will<00:25:01.080> be<00:25:01.200> one 00:25:01.310 --> 00:25:01.320 align:start position:0% smart contract wallets and will be one 00:25:01.320 --> 00:25:03.289 align:start position:0% smart contract wallets and will be one of<00:25:01.440> them<00:25:01.559> and<00:25:01.980> in<00:25:02.159> that<00:25:02.340> in<00:25:02.520> that<00:25:02.880> way<00:25:03.000> we<00:25:03.179> can 00:25:03.289 --> 00:25:03.299 align:start position:0% of them and in that in that way we can 00:25:03.299 --> 00:25:05.990 align:start position:0% of them and in that in that way we can decentralize<00:25:03.840> uh<00:25:04.620> bundling<00:25:05.039> and<00:25:05.760> the<00:25:05.880> second 00:25:05.990 --> 00:25:06.000 align:start position:0% decentralize uh bundling and the second 00:25:06.000 --> 00:25:07.970 align:start position:0% decentralize uh bundling and the second is<00:25:06.240> yeah<00:25:06.539> so<00:25:06.720> exactly<00:25:07.080> so<00:25:07.260> there<00:25:07.620> might<00:25:07.799> be 00:25:07.970 --> 00:25:07.980 align:start position:0% is yeah so exactly so there might be 00:25:07.980 --> 00:25:10.370 align:start position:0% is yeah so exactly so there might be this<00:25:08.520> management<00:25:08.760> of<00:25:09.360> Merkel<00:25:09.780> trees<00:25:10.080> that's 00:25:10.370 --> 00:25:10.380 align:start position:0% this management of Merkel trees that's 00:25:10.380 --> 00:25:13.190 align:start position:0% this management of Merkel trees that's separate<00:25:10.799> to<00:25:11.400> many<00:25:11.940> you<00:25:12.659> know<00:25:12.720> compressing 00:25:13.190 --> 00:25:13.200 align:start position:0% separate to many you know compressing 00:25:13.200 --> 00:25:14.950 align:start position:0% separate to many you know compressing multiple<00:25:13.620> user<00:25:13.860> operation<00:25:14.100> proofs<00:25:14.520> into<00:25:14.640> one 00:25:14.950 --> 00:25:14.960 align:start position:0% multiple user operation proofs into one 00:25:14.960 --> 00:25:17.750 align:start position:0% multiple user operation proofs into one and<00:25:15.960> we<00:25:16.679> can<00:25:16.799> make<00:25:16.919> that<00:25:17.039> permissionless<00:25:17.520> yeah 00:25:17.750 --> 00:25:17.760 align:start position:0% and we can make that permissionless yeah 00:25:17.760 --> 00:25:20.690 align:start position:0% and we can make that permissionless yeah I<00:25:18.179> think<00:25:18.299> it's<00:25:18.419> a<00:25:18.539> current<00:25:18.659> thinking<00:25:19.200> right<00:25:19.620> so 00:25:20.690 --> 00:25:20.700 align:start position:0% I think it's a current thinking right so 00:25:20.700 --> 00:25:21.470 align:start position:0% I think it's a current thinking right so um 00:25:21.470 --> 00:25:21.480 align:start position:0% um 00:25:21.480 --> 00:25:23.230 align:start position:0% um so<00:25:21.840> it's<00:25:22.020> okay<00:25:22.140> what<00:25:22.320> is<00:25:22.440> the<00:25:22.559> overall<00:25:22.740> story 00:25:23.230 --> 00:25:23.240 align:start position:0% so it's okay what is the overall story 00:25:23.240 --> 00:25:25.010 align:start position:0% so it's okay what is the overall story is<00:25:24.240> that 00:25:25.010 --> 00:25:25.020 align:start position:0% is that 00:25:25.020 --> 00:25:26.810 align:start position:0% is that so<00:25:25.500> because<00:25:25.620> we<00:25:25.919> support<00:25:26.100> backwards<00:25:26.700> and 00:25:26.810 --> 00:25:26.820 align:start position:0% so because we support backwards and 00:25:26.820 --> 00:25:28.310 align:start position:0% so because we support backwards and platform<00:25:27.059> I<00:25:27.240> will<00:25:27.360> support<00:25:27.419> the<00:25:27.659> exact<00:25:27.900> same 00:25:28.310 --> 00:25:28.320 align:start position:0% platform I will support the exact same 00:25:28.320 --> 00:25:29.930 align:start position:0% platform I will support the exact same set<00:25:28.500> of<00:25:28.679> operations 00:25:29.930 --> 00:25:29.940 align:start position:0% set of operations 00:25:29.940 --> 00:25:33.049 align:start position:0% set of operations we<00:25:30.659> like<00:25:31.020> users<00:25:31.380> need<00:25:31.679> to<00:25:31.919> pay<00:25:32.400> more<00:25:32.580> gas<00:25:32.820> right 00:25:33.049 --> 00:25:33.059 align:start position:0% we like users need to pay more gas right 00:25:33.059 --> 00:25:34.909 align:start position:0% we like users need to pay more gas right it's<00:25:33.240> like<00:25:33.419> that's<00:25:33.720> the<00:25:34.020> you're<00:25:34.620> paying<00:25:34.799> the 00:25:34.909 --> 00:25:34.919 align:start position:0% it's like that's the you're paying the 00:25:34.919 --> 00:25:36.529 align:start position:0% it's like that's the you're paying the same<00:25:35.039> amount<00:25:35.100> of<00:25:35.279> gas<00:25:35.400> by<00:25:35.580> default 00:25:36.529 --> 00:25:36.539 align:start position:0% same amount of gas by default 00:25:36.539 --> 00:25:38.810 align:start position:0% same amount of gas by default um<00:25:36.659> and<00:25:37.140> the<00:25:37.440> additional<00:25:37.860> things<00:25:38.100> that's<00:25:38.520> you 00:25:38.810 --> 00:25:38.820 align:start position:0% um and the additional things that's you 00:25:38.820 --> 00:25:40.370 align:start position:0% um and the additional things that's you know<00:25:38.880> the<00:25:39.360> overhead<00:25:39.659> to<00:25:39.900> like<00:25:40.020> maintain 00:25:40.370 --> 00:25:40.380 align:start position:0% know the overhead to like maintain 00:25:40.380 --> 00:25:43.250 align:start position:0% know the overhead to like maintain everything<00:25:40.640> and<00:25:41.640> the<00:25:42.240> idea<00:25:42.539> is<00:25:42.659> to<00:25:42.840> like<00:25:43.020> make 00:25:43.250 --> 00:25:43.260 align:start position:0% everything and the idea is to like make 00:25:43.260 --> 00:25:45.289 align:start position:0% everything and the idea is to like make it<00:25:43.440> as<00:25:43.679> small<00:25:44.039> as<00:25:44.279> possible<00:25:44.580> and<00:25:44.940> the<00:25:45.059> only<00:25:45.179> way 00:25:45.289 --> 00:25:45.299 align:start position:0% it as small as possible and the only way 00:25:45.299 --> 00:25:47.450 align:start position:0% it as small as possible and the only way to<00:25:45.480> do<00:25:45.600> that<00:25:45.779> is<00:25:46.080> to<00:25:46.320> can<00:25:46.679> Outsource<00:25:47.220> these 00:25:47.450 --> 00:25:47.460 align:start position:0% to do that is to can Outsource these 00:25:47.460 --> 00:25:49.430 align:start position:0% to do that is to can Outsource these aggregated<00:25:48.120> work<00:25:48.360> into<00:25:48.779> some<00:25:48.960> sequence<00:25:49.260> or 00:25:49.430 --> 00:25:49.440 align:start position:0% aggregated work into some sequence or 00:25:49.440 --> 00:25:51.890 align:start position:0% aggregated work into some sequence or bundler<00:25:49.860> so<00:25:50.520> so<00:25:50.820> it's<00:25:51.059> basically<00:25:51.539> necessary 00:25:51.890 --> 00:25:51.900 align:start position:0% bundler so so it's basically necessary 00:25:51.900 --> 00:25:53.090 align:start position:0% bundler so so it's basically necessary if<00:25:52.080> you<00:25:52.140> want<00:25:52.200> to<00:25:52.320> make<00:25:52.380> this<00:25:52.500> really<00:25:52.679> usable 00:25:53.090 --> 00:25:53.100 align:start position:0% if you want to make this really usable 00:25:53.100 --> 00:25:55.490 align:start position:0% if you want to make this really usable and<00:25:53.640> so<00:25:53.880> yeah<00:25:54.240> so<00:25:54.360> you<00:25:54.720> know<00:25:54.779> to<00:25:54.900> decentralize 00:25:55.490 --> 00:25:55.500 align:start position:0% and so yeah so you know to decentralize 00:25:55.500 --> 00:25:57.950 align:start position:0% and so yeah so you know to decentralize I<00:25:55.740> think<00:25:55.860> you<00:25:56.520> know<00:25:56.640> make<00:25:56.820> it<00:25:57.000> permissionless 00:25:57.950 --> 00:25:57.960 align:start position:0% I think you know make it permissionless 00:25:57.960 --> 00:25:59.930 align:start position:0% I think you know make it permissionless and<00:25:58.380> some<00:25:58.620> really<00:25:58.919> design<00:25:59.100> incentives<00:25:59.700> around 00:25:59.930 --> 00:25:59.940 align:start position:0% and some really design incentives around 00:25:59.940 --> 00:26:01.970 align:start position:0% and some really design incentives around this<00:26:00.179> right<00:26:00.419> that's<00:26:00.600> because<00:26:00.960> these<00:26:01.919> are 00:26:01.970 --> 00:26:01.980 align:start position:0% this right that's because these are 00:26:01.980 --> 00:26:03.590 align:start position:0% this right that's because these are bundlers<00:26:02.460> sequences<00:26:03.000> are<00:26:03.120> providing<00:26:03.419> a 00:26:03.590 --> 00:26:03.600 align:start position:0% bundlers sequences are providing a 00:26:03.600 --> 00:26:04.610 align:start position:0% bundlers sequences are providing a service 00:26:04.610 --> 00:26:04.620 align:start position:0% service 00:26:04.620 --> 00:26:05.230 align:start position:0% service um 00:26:05.230 --> 00:26:05.240 align:start position:0% um 00:26:05.240 --> 00:26:08.029 align:start position:0% um instant<00:26:06.240> Advanced<00:26:06.539> behavior<00:26:06.840> and<00:26:07.620> make<00:26:07.860> it 00:26:08.029 --> 00:26:08.039 align:start position:0% instant Advanced behavior and make it 00:26:08.039 --> 00:26:10.190 align:start position:0% instant Advanced behavior and make it provincialized<00:26:08.760> and<00:26:09.360> design<00:26:09.480> kind<00:26:09.840> of<00:26:10.020> this 00:26:10.190 --> 00:26:10.200 align:start position:0% provincialized and design kind of this 00:26:10.200 --> 00:26:12.590 align:start position:0% provincialized and design kind of this ecosystem<00:26:10.799> that's<00:26:11.760> so<00:26:11.940> self-sustainable 00:26:12.590 --> 00:26:12.600 align:start position:0% ecosystem that's so self-sustainable 00:26:12.600 --> 00:26:14.930 align:start position:0% ecosystem that's so self-sustainable right<00:26:12.960> uh<00:26:13.559> because<00:26:13.679> because<00:26:13.919> I<00:26:14.220> think 00:26:14.930 --> 00:26:14.940 align:start position:0% right uh because because I think 00:26:14.940 --> 00:26:17.630 align:start position:0% right uh because because I think that<00:26:15.480> uses<00:26:15.840> wallpaper<00:26:16.320> privacy<00:26:16.740> uh<00:26:17.279> if<00:26:17.460> it's 00:26:17.630 --> 00:26:17.640 align:start position:0% that uses wallpaper privacy uh if it's 00:26:17.640 --> 00:26:19.190 align:start position:0% that uses wallpaper privacy uh if it's cheap<00:26:17.940> enough<00:26:18.179> and<00:26:18.779> you<00:26:18.840> can<00:26:18.960> get<00:26:19.080> this 00:26:19.190 --> 00:26:19.200 align:start position:0% cheap enough and you can get this 00:26:19.200 --> 00:26:21.409 align:start position:0% cheap enough and you can get this network<00:26:19.380> effect<00:26:19.679> right 00:26:21.409 --> 00:26:21.419 align:start position:0% network effect right 00:26:21.419 --> 00:26:23.250 align:start position:0% network effect right thank<00:26:21.960> you<00:26:22.080> so<00:26:22.320> much<00:26:22.500> boy 00:26:23.250 --> 00:26:23.260 align:start position:0% thank you so much boy 00:26:23.260 --> 00:26:27.180 align:start position:0% thank you so much boy [Applause]