WEBVTT Kind: captions Language: en 00:00:09.190 --> 00:00:17.040 align:start position:0% [Music] 00:00:17.040 --> 00:00:17.050 align:start position:0% 00:00:17.050 --> 00:00:19.960 align:start position:0% good<00:00:18.050> morning<00:00:18.410> everyone 00:00:19.960 --> 00:00:19.970 align:start position:0% good morning everyone 00:00:19.970 --> 00:00:22.180 align:start position:0% good morning everyone I<00:00:20.030> don't<00:00:20.480> know<00:00:20.570> if<00:00:20.660> anybody<00:00:20.960> was<00:00:21.140> at<00:00:21.800> the<00:00:22.010> bar 00:00:22.180 --> 00:00:22.190 align:start position:0% I don't know if anybody was at the bar 00:00:22.190 --> 00:00:23.920 align:start position:0% I don't know if anybody was at the bar with<00:00:22.400> us<00:00:22.430> last<00:00:22.760> night<00:00:22.910> but<00:00:23.300> thanks<00:00:23.540> for<00:00:23.660> making 00:00:23.920 --> 00:00:23.930 align:start position:0% with us last night but thanks for making 00:00:23.930 --> 00:00:25.810 align:start position:0% with us last night but thanks for making it<00:00:24.050> out<00:00:24.140> so<00:00:24.350> early<00:00:24.650> if<00:00:24.770> you<00:00:24.890> stayed<00:00:25.160> up<00:00:25.190> late<00:00:25.520> I 00:00:25.810 --> 00:00:25.820 align:start position:0% it out so early if you stayed up late I 00:00:25.820 --> 00:00:27.880 align:start position:0% it out so early if you stayed up late I know<00:00:26.570> our<00:00:26.780> team<00:00:26.990> had<00:00:27.200> a<00:00:27.230> little<00:00:27.500> bit<00:00:27.620> of<00:00:27.680> a<00:00:27.740> hard 00:00:27.880 --> 00:00:27.890 align:start position:0% know our team had a little bit of a hard 00:00:27.890 --> 00:00:29.200 align:start position:0% know our team had a little bit of a hard time<00:00:28.070> waking<00:00:28.250> up<00:00:28.460> this<00:00:28.580> morning<00:00:28.640> but<00:00:29.060> we're 00:00:29.200 --> 00:00:29.210 align:start position:0% time waking up this morning but we're 00:00:29.210 --> 00:00:30.670 align:start position:0% time waking up this morning but we're happy<00:00:29.390> to<00:00:29.510> be<00:00:29.690> here 00:00:30.670 --> 00:00:30.680 align:start position:0% happy to be here 00:00:30.680 --> 00:00:32.499 align:start position:0% happy to be here My<00:00:30.950> name<00:00:31.070> is<00:00:31.100> Matthew<00:00:31.220> Spock<00:00:31.760> I'm<00:00:32.000> the<00:00:32.119> CEO<00:00:32.329> of 00:00:32.499 --> 00:00:32.509 align:start position:0% My name is Matthew Spock I'm the CEO of 00:00:32.509 --> 00:00:34.720 align:start position:0% My name is Matthew Spock I'm the CEO of a<00:00:32.780> company<00:00:32.809> called<00:00:33.140> new<00:00:33.440> Co<00:00:33.620> we're<00:00:34.340> the<00:00:34.579> team 00:00:34.720 --> 00:00:34.730 align:start position:0% a company called new Co we're the team 00:00:34.730 --> 00:00:37.030 align:start position:0% a company called new Co we're the team behind<00:00:34.940> the<00:00:35.300> Aon<00:00:35.540> project<00:00:36.020> we're<00:00:36.770> based<00:00:36.920> in 00:00:37.030 --> 00:00:37.040 align:start position:0% behind the Aon project we're based in 00:00:37.040 --> 00:00:38.500 align:start position:0% behind the Aon project we're based in Toronto<00:00:37.400> there's<00:00:37.579> a<00:00:37.640> lot<00:00:37.790> of<00:00:37.910> us<00:00:38.000> here<00:00:38.270> today 00:00:38.500 --> 00:00:38.510 align:start position:0% Toronto there's a lot of us here today 00:00:38.510 --> 00:00:40.360 align:start position:0% Toronto there's a lot of us here today so<00:00:39.050> you<00:00:39.110> know<00:00:39.380> after<00:00:39.680> the<00:00:39.890> talk<00:00:40.070> if<00:00:40.100> you<00:00:40.280> have 00:00:40.360 --> 00:00:40.370 align:start position:0% so you know after the talk if you have 00:00:40.370 --> 00:00:41.590 align:start position:0% so you know after the talk if you have any<00:00:40.520> follow-up<00:00:40.850> questions<00:00:40.940> feel<00:00:41.420> free<00:00:41.450> to 00:00:41.590 --> 00:00:41.600 align:start position:0% any follow-up questions feel free to 00:00:41.600 --> 00:00:42.790 align:start position:0% any follow-up questions feel free to reach<00:00:41.720> out<00:00:41.900> to<00:00:41.960> anybody<00:00:42.170> in<00:00:42.350> the<00:00:42.440> tshirt<00:00:42.590> I've 00:00:42.790 --> 00:00:42.800 align:start position:0% reach out to anybody in the tshirt I've 00:00:42.800 --> 00:00:44.440 align:start position:0% reach out to anybody in the tshirt I've got<00:00:42.920> one<00:00:43.010> of<00:00:43.100> my<00:00:43.160> co-founders<00:00:43.340> our<00:00:43.850> CTO<00:00:44.180> in<00:00:44.360> the 00:00:44.440 --> 00:00:44.450 align:start position:0% got one of my co-founders our CTO in the 00:00:44.450 --> 00:00:46.150 align:start position:0% got one of my co-founders our CTO in the back<00:00:44.570> of<00:00:44.690> the<00:00:44.750> room<00:00:44.870> with<00:00:44.989> us<00:00:45.079> and<00:00:45.230> a<00:00:45.829> bunch<00:00:45.950> of 00:00:46.150 --> 00:00:46.160 align:start position:0% back of the room with us and a bunch of 00:00:46.160 --> 00:00:48.010 align:start position:0% back of the room with us and a bunch of other<00:00:46.430> guys<00:00:46.670> and<00:00:47.000> girls<00:00:47.360> from<00:00:47.510> the<00:00:47.600> team<00:00:47.780> so 00:00:48.010 --> 00:00:48.020 align:start position:0% other guys and girls from the team so 00:00:48.020 --> 00:00:49.090 align:start position:0% other guys and girls from the team so please<00:00:48.410> feel<00:00:48.590> free<00:00:48.620> to<00:00:48.770> kind<00:00:48.860> of<00:00:48.950> ask 00:00:49.090 --> 00:00:49.100 align:start position:0% please feel free to kind of ask 00:00:49.100 --> 00:00:50.350 align:start position:0% please feel free to kind of ask questions 00:00:50.350 --> 00:00:50.360 align:start position:0% questions 00:00:50.360 --> 00:00:51.850 align:start position:0% questions we've<00:00:51.170> been<00:00:51.260> working<00:00:51.530> in<00:00:51.590> the<00:00:51.680> blockchain 00:00:51.850 --> 00:00:51.860 align:start position:0% we've been working in the blockchain 00:00:51.860 --> 00:00:52.960 align:start position:0% we've been working in the blockchain space<00:00:52.190> for<00:00:52.340> a<00:00:52.370> number<00:00:52.579> of<00:00:52.640> years<00:00:52.790> now<00:00:52.940> I 00:00:52.960 --> 00:00:52.970 align:start position:0% space for a number of years now I 00:00:52.970 --> 00:00:55.000 align:start position:0% space for a number of years now I started<00:00:53.120> kind<00:00:54.020> of<00:00:54.140> down<00:00:54.290> this<00:00:54.320> path<00:00:54.680> in<00:00:54.860> about 00:00:55.000 --> 00:00:55.010 align:start position:0% started kind of down this path in about 00:00:55.010 --> 00:00:57.670 align:start position:0% started kind of down this path in about 2014<00:00:55.820> looking<00:00:56.420> at<00:00:56.570> the<00:00:56.870> problems<00:00:57.500> in<00:00:57.620> the 00:00:57.670 --> 00:00:57.680 align:start position:0% 2014 looking at the problems in the 00:00:57.680 --> 00:00:59.770 align:start position:0% 2014 looking at the problems in the enterprise<00:00:57.980> market<00:00:58.010> and<00:00:58.520> figuring<00:00:59.030> out<00:00:59.149> what 00:00:59.770 --> 00:00:59.780 align:start position:0% enterprise market and figuring out what 00:00:59.780 --> 00:01:01.569 align:start position:0% enterprise market and figuring out what was<00:00:59.960> it<00:01:00.079> about<00:01:00.170> distributed<00:01:00.890> technologies 00:01:01.569 --> 00:01:01.579 align:start position:0% was it about distributed technologies 00:01:01.579 --> 00:01:03.370 align:start position:0% was it about distributed technologies that<00:01:01.790> would<00:01:01.880> potentially<00:01:02.390> change<00:01:02.660> the<00:01:02.809> kind 00:01:03.370 --> 00:01:03.380 align:start position:0% that would potentially change the kind 00:01:03.380 --> 00:01:04.359 align:start position:0% that would potentially change the kind of<00:01:03.440> underlying<00:01:03.620> infrastructure<00:01:04.219> of 00:01:04.359 --> 00:01:04.369 align:start position:0% of underlying infrastructure of 00:01:04.369 --> 00:01:06.789 align:start position:0% of underlying infrastructure of enterprises<00:01:04.909> started<00:01:05.810> a<00:01:05.870> team<00:01:06.140> to<00:01:06.350> focus<00:01:06.500> on 00:01:06.789 --> 00:01:06.799 align:start position:0% enterprises started a team to focus on 00:01:06.799 --> 00:01:08.560 align:start position:0% enterprises started a team to focus on that<00:01:06.920> in<00:01:07.100> 2014<00:01:07.670> and<00:01:07.820> eventually<00:01:08.180> that<00:01:08.360> turned 00:01:08.560 --> 00:01:08.570 align:start position:0% that in 2014 and eventually that turned 00:01:08.570 --> 00:01:11.410 align:start position:0% that in 2014 and eventually that turned into<00:01:08.720> our<00:01:08.960> company<00:01:09.200> today<00:01:09.700> and<00:01:10.700> we<00:01:11.120> came<00:01:11.299> to 00:01:11.410 --> 00:01:11.420 align:start position:0% into our company today and we came to 00:01:11.420 --> 00:01:13.330 align:start position:0% into our company today and we came to this<00:01:11.510> realization<00:01:11.810> that<00:01:12.290> over<00:01:12.590> time<00:01:12.799> we<00:01:13.130> saw 00:01:13.330 --> 00:01:13.340 align:start position:0% this realization that over time we saw 00:01:13.340 --> 00:01:14.500 align:start position:0% this realization that over time we saw you<00:01:13.820> know<00:01:13.850> two<00:01:14.000> ends<00:01:14.270> of<00:01:14.390> a<00:01:14.479> spectrum 00:01:14.500 --> 00:01:14.510 align:start position:0% you know two ends of a spectrum 00:01:14.510 --> 00:01:16.420 align:start position:0% you know two ends of a spectrum developing<00:01:15.440> we<00:01:15.530> saw<00:01:15.680> everything<00:01:16.040> happening 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public blockchain 00:01:22.159 --> 00:01:23.859 align:start position:0% the public and on the public blockchain side<00:01:22.340> of<00:01:22.430> the<00:01:22.490> spectrum<00:01:22.670> and<00:01:22.970> in<00:01:23.330> many<00:01:23.510> cases 00:01:23.859 --> 00:01:23.869 align:start position:0% side of the spectrum and in many cases 00:01:23.869 --> 00:01:25.480 align:start position:0% side of the spectrum and in many cases very<00:01:24.020> different<00:01:24.500> types<00:01:24.740> of<00:01:24.920> requirements 00:01:25.480 --> 00:01:25.490 align:start position:0% very different types of requirements 00:01:25.490 --> 00:01:27.490 align:start position:0% very different types of requirements different<00:01:25.760> types<00:01:25.909> of<00:01:26.030> innovations<00:01:26.479> but<00:01:27.260> more 00:01:27.490 --> 00:01:27.500 align:start position:0% different types of innovations but more 00:01:27.500 --> 00:01:28.960 align:start position:0% different types of innovations but more and<00:01:27.650> more<00:01:27.710> starting<00:01:28.190> to<00:01:28.280> see<00:01:28.460> you<00:01:28.940> know 00:01:28.960 --> 00:01:28.970 align:start position:0% and more starting to see you know 00:01:28.970 --> 00:01:30.670 align:start position:0% and more starting to see you know forward-thinking<00:01:29.570> companies<00:01:30.140> like<00:01:30.350> JPMorgan 00:01:30.670 --> 00:01:30.680 align:start position:0% forward-thinking companies like JPMorgan 00:01:30.680 --> 00:01:33.460 align:start position:0% forward-thinking companies like JPMorgan like<00:01:31.250> the<00:01:31.430> CME<00:01:31.820> Group<00:01:31.909> like<00:01:32.360> a<00:01:32.840> whole<00:01:33.170> bunch<00:01:33.290> of 00:01:33.460 --> 00:01:33.470 align:start position:0% like the CME Group like a whole bunch of 00:01:33.470 --> 00:01:35.080 align:start position:0% like the CME Group like a whole bunch of others<00:01:33.650> realizing<00:01:34.580> that<00:01:34.670> there's<00:01:34.880> real 00:01:35.080 --> 00:01:35.090 align:start position:0% others realizing that there's real 00:01:35.090 --> 00:01:36.670 align:start position:0% others realizing that there's real validity<00:01:35.659> in<00:01:35.869> the<00:01:35.900> use<00:01:36.080> of<00:01:36.260> public<00:01:36.500> block 00:01:36.670 --> 00:01:36.680 align:start position:0% validity in the use of public block 00:01:36.680 --> 00:01:38.649 align:start position:0% validity in the use of public block chains<00:01:36.920> inside<00:01:37.280> mainstream<00:01:38.000> applications 00:01:38.649 --> 00:01:38.659 align:start position:0% chains inside mainstream applications 00:01:38.659 --> 00:01:40.690 align:start position:0% chains inside mainstream applications mainstream<00:01:39.020> organizations<00:01:39.619> so<00:01:40.220> we<00:01:40.369> started 00:01:40.690 --> 00:01:40.700 align:start position:0% mainstream organizations so we started 00:01:40.700 --> 00:01:42.280 align:start position:0% mainstream organizations so we started asking<00:01:41.000> questions<00:01:41.420> about<00:01:41.780> how<00:01:41.960> do<00:01:42.020> we<00:01:42.140> start 00:01:42.280 --> 00:01:42.290 align:start position:0% asking questions about how do we start 00:01:42.290 --> 00:01:43.539 align:start position:0% asking questions about how do we start bridging<00:01:42.500> this<00:01:42.710> gap<00:01:42.770> how<00:01:43.100> do<00:01:43.159> we<00:01:43.280> pull 00:01:43.539 --> 00:01:43.549 align:start position:0% bridging this gap how do we pull 00:01:43.549 --> 00:01:45.460 align:start position:0% bridging this gap how do we pull together<00:01:43.729> all<00:01:44.240> these<00:01:44.689> various<00:01:45.140> innovations 00:01:45.460 --> 00:01:45.470 align:start position:0% together all these various innovations 00:01:45.470 --> 00:01:47.050 align:start position:0% together all these various innovations into<00:01:45.830> a<00:01:45.860> single<00:01:46.220> solution<00:01:46.490> that<00:01:46.909> could 00:01:47.050 --> 00:01:47.060 align:start position:0% into a single solution that could 00:01:47.060 --> 00:01:49.420 align:start position:0% into a single solution that could essentially<00:01:47.479> scale<00:01:47.990> all<00:01:48.500> the<00:01:48.560> applications 00:01:49.420 --> 00:01:49.430 align:start position:0% essentially scale all the applications 00:01:49.430 --> 00:01:50.859 align:start position:0% essentially scale all the applications all<00:01:49.549> the<00:01:49.610> requirements<00:01:49.909> we<00:01:50.150> have<00:01:50.299> for<00:01:50.810> the 00:01:50.859 --> 00:01:50.869 align:start position:0% all the requirements we have for the 00:01:50.869 --> 00:01:53.710 align:start position:0% all the requirements we have for the future<00:01:51.140> of<00:01:51.170> mainstream<00:01:51.650> adoption<00:01:52.509> one<00:01:53.509> thing 00:01:53.710 --> 00:01:53.720 align:start position:0% future of mainstream adoption one thing 00:01:53.720 --> 00:01:55.030 align:start position:0% future of mainstream adoption one thing that<00:01:53.869> we<00:01:53.960> noticed<00:01:54.140> along<00:01:54.470> the<00:01:54.650> way<00:01:54.740> if<00:01:54.920> you 00:01:55.030 --> 00:01:55.040 align:start position:0% that we noticed along the way if you 00:01:55.040 --> 00:01:57.730 align:start position:0% that we noticed along the way if you were<00:01:55.130> to<00:01:55.250> rewind<00:01:55.400> a<00:01:55.640> year<00:01:55.820> ago<00:01:56.030> to<00:01:56.090> DEFCON<00:01:56.600> 2 00:01:57.730 --> 00:01:57.740 align:start position:0% were to rewind a year ago to DEFCON 2 00:01:57.740 --> 00:01:59.800 align:start position:0% were to rewind a year ago to DEFCON 2 probably<00:01:58.520> would<00:01:58.729> still<00:01:59.000> have<00:01:59.150> been<00:01:59.180> debatable 00:01:59.800 --> 00:01:59.810 align:start position:0% probably would still have been debatable 00:01:59.810 --> 00:02:01.840 align:start position:0% probably would still have been debatable how<00:01:59.840> many<00:02:00.049> you<00:02:00.770> know<00:02:00.890> long-term<00:02:01.159> lasting 00:02:01.840 --> 00:02:01.850 align:start position:0% how many you know long-term lasting 00:02:01.850 --> 00:02:03.760 align:start position:0% how many you know long-term lasting protocols<00:02:02.600> there<00:02:02.810> would<00:02:02.900> be<00:02:03.079> at<00:02:03.470> the<00:02:03.619> end<00:02:03.740> of 00:02:03.760 --> 00:02:03.770 align:start position:0% protocols there would be at the end of 00:02:03.770 --> 00:02:05.020 align:start position:0% protocols there would be at the end of all<00:02:03.860> this<00:02:03.950> even<00:02:04.130> you<00:02:04.220> go<00:02:04.280> back<00:02:04.460> farther<00:02:04.759> you 00:02:05.020 --> 00:02:05.030 align:start position:0% all this even you go back farther you 00:02:05.030 --> 00:02:06.340 align:start position:0% all this even you go back farther you know<00:02:05.119> the<00:02:05.240> original<00:02:05.479> Bitcoin<00:02:06.079> versus 00:02:06.340 --> 00:02:06.350 align:start position:0% know the original Bitcoin versus 00:02:06.350 --> 00:02:07.600 align:start position:0% know the original Bitcoin versus aetherium<00:02:06.650> debate<00:02:06.979> is<00:02:07.100> it<00:02:07.189> gonna<00:02:07.310> be<00:02:07.460> one 00:02:07.600 --> 00:02:07.610 align:start position:0% aetherium debate is it gonna be one 00:02:07.610 --> 00:02:09.910 align:start position:0% aetherium debate is it gonna be one chain<00:02:07.850> to<00:02:08.000> rule<00:02:08.179> them<00:02:08.329> all<00:02:08.560> you<00:02:09.560> know<00:02:09.649> we<00:02:09.739> came 00:02:09.910 --> 00:02:09.920 align:start position:0% chain to rule them all you know we came 00:02:09.920 --> 00:02:12.550 align:start position:0% chain to rule them all you know we came to<00:02:10.190> a<00:02:10.220> pretty<00:02:10.759> obvious<00:02:11.450> adoption<00:02:11.989> realization 00:02:12.550 --> 00:02:12.560 align:start position:0% to a pretty obvious adoption realization 00:02:12.560 --> 00:02:13.690 align:start position:0% to a pretty obvious adoption realization that<00:02:12.680> there<00:02:12.860> are<00:02:12.950> multiple<00:02:13.130> protocols 00:02:13.690 --> 00:02:13.700 align:start position:0% that there are multiple protocols 00:02:13.700 --> 00:02:14.660 align:start position:0% that there are multiple protocols developing<00:02:14.180> in<00:02:14.270> parallel 00:02:14.660 --> 00:02:14.670 align:start position:0% developing in parallel 00:02:14.670 --> 00:02:16.400 align:start position:0% developing in parallel there's<00:02:15.180> people<00:02:15.600> building<00:02:15.870> customized 00:02:16.400 --> 00:02:16.410 align:start position:0% there's people building customized 00:02:16.410 --> 00:02:18.320 align:start position:0% there's people building customized systems<00:02:16.800> with<00:02:16.980> customized<00:02:17.460> consensus<00:02:18.060> with 00:02:18.320 --> 00:02:18.330 align:start position:0% systems with customized consensus with 00:02:18.330 --> 00:02:21.949 align:start position:0% systems with customized consensus with you<00:02:19.230> know<00:02:19.350> EVM<00:02:19.950> functionality<00:02:20.880> with<00:02:21.180> fabric 00:02:21.949 --> 00:02:21.959 align:start position:0% you know EVM functionality with fabric 00:02:21.959 --> 00:02:24.350 align:start position:0% you know EVM functionality with fabric functionality<00:02:22.650> with<00:02:22.950> Korda<00:02:23.760> functionality 00:02:24.350 --> 00:02:24.360 align:start position:0% functionality with Korda functionality 00:02:24.360 --> 00:02:25.970 align:start position:0% functionality with Korda functionality with<00:02:24.540> just<00:02:24.810> plain<00:02:25.140> old<00:02:25.350> Bitcoin 00:02:25.970 --> 00:02:25.980 align:start position:0% with just plain old Bitcoin 00:02:25.980 --> 00:02:27.860 align:start position:0% with just plain old Bitcoin functionality<00:02:26.610> and<00:02:26.790> at<00:02:27.120> some<00:02:27.390> point<00:02:27.630> we<00:02:27.750> were 00:02:27.860 --> 00:02:27.870 align:start position:0% functionality and at some point we were 00:02:27.870 --> 00:02:29.420 align:start position:0% functionality and at some point we were gonna<00:02:27.990> realize<00:02:28.440> that<00:02:28.740> we<00:02:28.830> were<00:02:28.950> running<00:02:29.069> into 00:02:29.420 --> 00:02:29.430 align:start position:0% gonna realize that we were running into 00:02:29.430 --> 00:02:31.250 align:start position:0% gonna realize that we were running into a<00:02:29.459> very<00:02:29.790> very<00:02:29.970> new<00:02:30.690> problem<00:02:31.140> and 00:02:31.250 --> 00:02:31.260 align:start position:0% a very very new problem and 00:02:31.260 --> 00:02:32.810 align:start position:0% a very very new problem and infrastructure<00:02:31.800> around<00:02:32.010> fragmentation<00:02:32.760> of 00:02:32.810 --> 00:02:32.820 align:start position:0% infrastructure around fragmentation of 00:02:32.820 --> 00:02:34.670 align:start position:0% infrastructure around fragmentation of all<00:02:32.940> these<00:02:33.000> technologies<00:02:33.330> so<00:02:33.750> we<00:02:34.140> decided<00:02:34.590> to 00:02:34.670 --> 00:02:34.680 align:start position:0% all these technologies so we decided to 00:02:34.680 --> 00:02:36.230 align:start position:0% all these technologies so we decided to build<00:02:34.800> a<00:02:35.040> on<00:02:35.280> so<00:02:35.490> we're<00:02:35.610> in<00:02:35.700> the<00:02:35.790> process<00:02:35.940> of 00:02:36.230 --> 00:02:36.240 align:start position:0% build a on so we're in the process of 00:02:36.240 --> 00:02:37.850 align:start position:0% build a on so we're in the process of developing<00:02:36.570> this<00:02:36.690> right<00:02:36.900> now<00:02:37.050> there's<00:02:37.709> a<00:02:37.770> lot 00:02:37.850 --> 00:02:37.860 align:start position:0% developing this right now there's a lot 00:02:37.860 --> 00:02:39.290 align:start position:0% developing this right now there's a lot more<00:02:38.010> information<00:02:38.130> you<00:02:38.459> can<00:02:38.550> find<00:02:38.730> online<00:02:38.880> but 00:02:39.290 --> 00:02:39.300 align:start position:0% more information you can find online but 00:02:39.300 --> 00:02:41.030 align:start position:0% more information you can find online but I'll<00:02:40.020> walk<00:02:40.200> you<00:02:40.320> through<00:02:40.500> the<00:02:40.560> problems<00:02:40.890> that 00:02:41.030 --> 00:02:41.040 align:start position:0% I'll walk you through the problems that 00:02:41.040 --> 00:02:42.920 align:start position:0% I'll walk you through the problems that we<00:02:41.160> don't<00:02:42.000> think<00:02:42.239> we've<00:02:42.360> solved<00:02:42.630> yet<00:02:42.750> as<00:02:42.840> an 00:02:42.920 --> 00:02:42.930 align:start position:0% we don't think we've solved yet as an 00:02:42.930 --> 00:02:44.720 align:start position:0% we don't think we've solved yet as an industry<00:02:43.290> that<00:02:43.380> we<00:02:43.500> wanted<00:02:43.739> to<00:02:43.800> kind<00:02:44.280> of<00:02:44.400> focus 00:02:44.720 --> 00:02:44.730 align:start position:0% industry that we wanted to kind of focus 00:02:44.730 --> 00:02:46.820 align:start position:0% industry that we wanted to kind of focus on<00:02:44.819> and<00:02:45.780> these<00:02:45.959> kind<00:02:46.290> of<00:02:46.319> high-level<00:02:46.620> be 00:02:46.820 --> 00:02:46.830 align:start position:0% on and these kind of high-level be 00:02:46.830 --> 00:02:48.320 align:start position:0% on and these kind of high-level be bucketing<00:02:47.190> into<00:02:47.370> four<00:02:47.580> four<00:02:48.030> general 00:02:48.320 --> 00:02:48.330 align:start position:0% bucketing into four four general 00:02:48.330 --> 00:02:48.770 align:start position:0% bucketing into four four general categories 00:02:48.770 --> 00:02:48.780 align:start position:0% categories 00:02:48.780 --> 00:02:50.540 align:start position:0% categories so<00:02:49.170> the<00:02:49.260> first<00:02:49.470> the<00:02:49.650> most<00:02:49.830> obvious<00:02:50.190> one<00:02:50.340> to<00:02:50.459> us 00:02:50.540 --> 00:02:50.550 align:start position:0% so the first the most obvious one to us 00:02:50.550 --> 00:02:52.370 align:start position:0% so the first the most obvious one to us is<00:02:50.730> isolation<00:02:51.270> the<00:02:51.600> fact<00:02:51.810> that<00:02:51.900> we've<00:02:52.050> scaled 00:02:52.370 --> 00:02:52.380 align:start position:0% is isolation the fact that we've scaled 00:02:52.380 --> 00:02:53.690 align:start position:0% is isolation the fact that we've scaled and<00:02:52.709> built<00:02:52.920> all<00:02:53.160> of<00:02:53.250> these<00:02:53.340> various 00:02:53.690 --> 00:02:53.700 align:start position:0% and built all of these various 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of<00:02:59.190> the<00:02:59.310> irony<00:02:59.430> of<00:02:59.670> our<00:02:59.820> ecosystem<00:03:00.450> is 00:03:00.590 --> 00:03:00.600 align:start position:0% is kind of the irony of our ecosystem is 00:03:00.600 --> 00:03:02.420 align:start position:0% is kind of the irony of our ecosystem is we<00:03:00.870> all<00:03:01.080> rely<00:03:01.380> on<00:03:01.410> these<00:03:01.650> heavy<00:03:01.890> centralized 00:03:02.420 --> 00:03:02.430 align:start position:0% we all rely on these heavy centralized 00:03:02.430 --> 00:03:03.680 align:start position:0% we all rely on these heavy centralized intermediaries<00:03:02.940> to<00:03:02.970> go<00:03:03.120> from<00:03:03.269> one<00:03:03.360> watching 00:03:03.680 --> 00:03:03.690 align:start position:0% intermediaries to go from one watching 00:03:03.690 --> 00:03:06.229 align:start position:0% intermediaries to go from one watching to<00:03:03.810> another<00:03:04.050> we<00:03:04.709> obviously<00:03:04.950> still<00:03:05.580> encounter 00:03:06.229 --> 00:03:06.239 align:start position:0% to another we obviously still encounter 00:03:06.239 --> 00:03:07.400 align:start position:0% to another we obviously still encounter an<00:03:06.360> enormous<00:03:06.810> number<00:03:06.900> of<00:03:07.050> problems<00:03:07.350> on 00:03:07.400 --> 00:03:07.410 align:start position:0% an enormous number of problems on 00:03:07.410 --> 00:03:09.979 align:start position:0% an enormous number of problems on scalability<00:03:07.820> you<00:03:08.820> know<00:03:08.910> the<00:03:09.030> status<00:03:09.420> ICO<00:03:09.780> is<00:03:09.870> a 00:03:09.979 --> 00:03:09.989 align:start position:0% scalability you know the status ICO is a 00:03:09.989 --> 00:03:11.270 align:start position:0% scalability you know the status ICO is a great<00:03:10.170> example<00:03:10.350> of<00:03:10.590> that<00:03:10.739> what<00:03:10.950> happened<00:03:11.220> to 00:03:11.270 --> 00:03:11.280 align:start position:0% great example of that what happened to 00:03:11.280 --> 00:03:13.520 align:start position:0% great example of that what happened to the<00:03:11.340> etherium<00:03:11.670> network<00:03:11.910> on<00:03:12.030> that<00:03:12.180> day<00:03:12.530> and 00:03:13.520 --> 00:03:13.530 align:start position:0% the etherium network on that day and 00:03:13.530 --> 00:03:15.699 align:start position:0% the etherium network on that day and obviously<00:03:14.370> there's<00:03:14.610> a<00:03:14.700> lot<00:03:14.730> of<00:03:14.940> plans<00:03:15.239> and 00:03:15.699 --> 00:03:15.709 align:start position:0% obviously there's a lot of plans and 00:03:15.709 --> 00:03:17.540 align:start position:0% obviously there's a lot of plans and development<00:03:16.709> being<00:03:16.860> done<00:03:17.010> to<00:03:17.160> solve<00:03:17.340> that 00:03:17.540 --> 00:03:17.550 align:start position:0% development being done to solve that 00:03:17.550 --> 00:03:20.150 align:start position:0% development being done to solve that privacy<00:03:18.330> which<00:03:18.630> is<00:03:18.780> mostly<00:03:19.260> a<00:03:19.530> requirement 00:03:20.150 --> 00:03:20.160 align:start position:0% privacy which is mostly a requirement 00:03:20.160 --> 00:03:21.680 align:start position:0% privacy which is mostly a requirement coming<00:03:20.459> from<00:03:20.670> the<00:03:20.820> enterprise<00:03:21.000> market<00:03:21.540> around 00:03:21.680 --> 00:03:21.690 align:start position:0% coming from the enterprise market around 00:03:21.690 --> 00:03:23.180 align:start position:0% coming from the enterprise market around how<00:03:22.019> do<00:03:22.079> you<00:03:22.470> know<00:03:22.560> mainstream<00:03:23.070> financial 00:03:23.180 --> 00:03:23.190 align:start position:0% how do you know mainstream financial 00:03:23.190 --> 00:03:24.590 align:start position:0% how do you know mainstream financial institutions<00:03:23.700> and<00:03:24.239> healthcare 00:03:24.590 --> 00:03:24.600 align:start position:0% institutions and healthcare 00:03:24.600 --> 00:03:26.780 align:start position:0% institutions and healthcare organizations<00:03:24.630> and<00:03:25.440> governments<00:03:25.920> eventually 00:03:26.780 --> 00:03:26.790 align:start position:0% organizations and governments eventually 00:03:26.790 --> 00:03:28.580 align:start position:0% organizations and governments eventually trust<00:03:27.120> this<00:03:27.269> technology<00:03:27.840> enough<00:03:28.110> to<00:03:28.290> manage 00:03:28.580 --> 00:03:28.590 align:start position:0% trust this technology enough to manage 00:03:28.590 --> 00:03:30.560 align:start position:0% trust this technology enough to manage you<00:03:29.070> know<00:03:29.100> your<00:03:29.370> personal<00:03:29.760> data<00:03:29.910> to<00:03:30.329> say<00:03:30.510> you 00:03:30.560 --> 00:03:30.570 align:start position:0% you know your personal data to say you 00:03:30.570 --> 00:03:31.759 align:start position:0% you know your personal data to say you know<00:03:30.810> how<00:03:30.900> are<00:03:30.959> we<00:03:31.049> gonna<00:03:31.140> put<00:03:31.320> financial 00:03:31.759 --> 00:03:31.769 align:start position:0% know how are we gonna put financial 00:03:31.769 --> 00:03:33.410 align:start position:0% know how are we gonna put financial transactions<00:03:32.400> and<00:03:32.579> health<00:03:32.760> records<00:03:33.150> and<00:03:33.299> all 00:03:33.410 --> 00:03:33.420 align:start position:0% transactions and health records and all 00:03:33.420 --> 00:03:35.180 align:start position:0% transactions and health records and all of<00:03:33.540> these<00:03:33.660> things<00:03:33.900> onto<00:03:34.170> block<00:03:34.769> chains<00:03:35.040> and 00:03:35.180 --> 00:03:35.190 align:start position:0% of these things onto block chains and 00:03:35.190 --> 00:03:37.280 align:start position:0% of these things onto block chains and finally<00:03:35.880> although<00:03:36.120> it<00:03:36.239> ties<00:03:36.450> relatively<00:03:37.079> into 00:03:37.280 --> 00:03:37.290 align:start position:0% finally although it ties relatively into 00:03:37.290 --> 00:03:38.720 align:start position:0% finally although it ties relatively into scalability<00:03:37.799> is<00:03:37.890> this<00:03:38.010> idea<00:03:38.250> of<00:03:38.280> performance 00:03:38.720 --> 00:03:38.730 align:start position:0% scalability is this idea of performance 00:03:38.730 --> 00:03:39.890 align:start position:0% scalability is this idea of performance how<00:03:38.880> many<00:03:39.030> transactions<00:03:39.570> can<00:03:39.690> we<00:03:39.750> pass 00:03:39.890 --> 00:03:39.900 align:start position:0% how many transactions can we pass 00:03:39.900 --> 00:03:41.270 align:start position:0% how many transactions can we pass through<00:03:40.079> the<00:03:40.200> network<00:03:40.440> so<00:03:40.920> I'm<00:03:41.010> gonna<00:03:41.100> walk 00:03:41.270 --> 00:03:41.280 align:start position:0% through the network so I'm gonna walk 00:03:41.280 --> 00:03:43.130 align:start position:0% through the network so I'm gonna walk you<00:03:41.430> through<00:03:41.640> our<00:03:41.790> design<00:03:42.209> our<00:03:42.630> thoughts 00:03:43.130 --> 00:03:43.140 align:start position:0% you through our design our thoughts 00:03:43.140 --> 00:03:44.360 align:start position:0% you through our design our thoughts there's<00:03:43.500> kind<00:03:43.680> of<00:03:43.709> two<00:03:43.769> major<00:03:44.130> components 00:03:44.360 --> 00:03:44.370 align:start position:0% there's kind of two major components 00:03:44.370 --> 00:03:46.250 align:start position:0% there's kind of two major components that<00:03:44.760> we're<00:03:44.880> going<00:03:45.000> to<00:03:45.060> talk<00:03:45.239> about<00:03:45.269> one<00:03:46.140> is 00:03:46.250 --> 00:03:46.260 align:start position:0% that we're going to talk about one is 00:03:46.260 --> 00:03:47.600 align:start position:0% that we're going to talk about one is this<00:03:46.380> idea<00:03:46.680> of<00:03:46.739> how<00:03:46.860> do<00:03:46.920> we<00:03:47.070> bridge<00:03:47.310> block 00:03:47.600 --> 00:03:47.610 align:start position:0% this idea of how do we bridge block 00:03:47.610 --> 00:03:49.880 align:start position:0% this idea of how do we bridge block chains<00:03:47.910> together<00:03:48.360> and<00:03:48.600> the<00:03:49.019> other<00:03:49.170> is<00:03:49.440> a<00:03:49.680> new 00:03:49.880 --> 00:03:49.890 align:start position:0% chains together and the other is a new 00:03:49.890 --> 00:03:51.170 align:start position:0% chains together and the other is a new network<00:03:50.100> that<00:03:50.370> we're<00:03:50.459> developing<00:03:50.640> called<00:03:51.030> a 00:03:51.170 --> 00:03:51.180 align:start position:0% network that we're developing called a 00:03:51.180 --> 00:03:52.670 align:start position:0% network that we're developing called a on<00:03:51.329> one<00:03:51.540> that<00:03:51.720> kind<00:03:51.900> of<00:03:51.959> sits<00:03:52.170> at<00:03:52.320> the<00:03:52.440> root<00:03:52.590> of 00:03:52.670 --> 00:03:52.680 align:start position:0% on one that kind of sits at the root of 00:03:52.680 --> 00:03:54.410 align:start position:0% on one that kind of sits at the root of this<00:03:52.769> new<00:03:53.060> interconnected<00:03:54.060> blockchain 00:03:54.410 --> 00:03:54.420 align:start position:0% this new interconnected blockchain 00:03:54.420 --> 00:03:57.370 align:start position:0% this new interconnected blockchain ecosystem<00:03:54.930> we're<00:03:55.019> building<00:03:55.290> so<00:03:55.829> this<00:03:55.920> is<00:03:56.100> a<00:03:56.310> on 00:03:57.370 --> 00:03:57.380 align:start position:0% ecosystem we're building so this is a on 00:03:57.380 --> 00:03:59.930 align:start position:0% ecosystem we're building so this is a on high<00:03:58.380> level<00:03:58.650> architecture<00:03:58.739> and<00:03:59.340> three<00:03:59.700> kind 00:03:59.930 --> 00:03:59.940 align:start position:0% high level architecture and three kind 00:03:59.940 --> 00:04:00.979 align:start position:0% high level architecture and three kind of<00:04:00.000> talking<00:04:00.209> points<00:04:00.480> that<00:04:00.600> I<00:04:00.720> want<00:04:00.840> to<00:04:00.930> go 00:04:00.979 --> 00:04:00.989 align:start position:0% of talking points that I want to go 00:04:00.989 --> 00:04:02.210 align:start position:0% of talking points that I want to go through<00:04:01.110> so<00:04:01.260> one<00:04:01.440> is<00:04:01.590> the<00:04:01.709> design<00:04:01.980> of<00:04:02.100> what<00:04:02.190> we 00:04:02.210 --> 00:04:02.220 align:start position:0% through so one is the design of what we 00:04:02.220 --> 00:04:04.850 align:start position:0% through so one is the design of what we call<00:04:02.430> a<00:04:02.549> on<00:04:02.700> 1<00:04:02.940> which<00:04:03.239> is<00:04:03.450> kind<00:04:04.049> of<00:04:04.079> our<00:04:04.230> new 00:04:04.850 --> 00:04:04.860 align:start position:0% call a on 1 which is kind of our new 00:04:04.860 --> 00:04:05.960 align:start position:0% call a on 1 which is kind of our new public<00:04:05.220> blockchain<00:04:05.610> that<00:04:05.730> we're<00:04:05.850> building 00:04:05.960 --> 00:04:05.970 align:start position:0% public blockchain that we're building 00:04:05.970 --> 00:04:07.880 align:start position:0% public blockchain that we're building that<00:04:06.269> sits<00:04:06.540> as<00:04:06.720> a<00:04:07.079> little<00:04:07.380> bit<00:04:07.470> of<00:04:07.560> a<00:04:07.620> router 00:04:07.880 --> 00:04:07.890 align:start position:0% that sits as a little bit of a router 00:04:07.890 --> 00:04:09.830 align:start position:0% that sits as a little bit of a router inside<00:04:08.400> this<00:04:08.519> network<00:04:08.850> of<00:04:08.940> block<00:04:09.150> chains<00:04:09.420> also 00:04:09.830 --> 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position:0% want to kind of dive into a little bit 00:04:14.760 --> 00:04:16.699 align:start position:0% want to kind of dive into a little bit secondly<00:04:15.570> is<00:04:15.660> this<00:04:15.750> idea<00:04:16.019> of<00:04:16.079> participating 00:04:16.699 --> 00:04:16.709 align:start position:0% secondly is this idea of participating 00:04:16.709 --> 00:04:17.960 align:start position:0% secondly is this idea of participating block<00:04:16.859> chains<00:04:17.100> block<00:04:17.459> chains<00:04:17.700> that<00:04:17.820> will 00:04:17.960 --> 00:04:17.970 align:start position:0% block chains block chains that will 00:04:17.970 --> 00:04:19.430 align:start position:0% block chains block chains that will connect<00:04:18.299> through<00:04:18.479> this<00:04:18.600> routing<00:04:18.840> system<00:04:19.289> to 00:04:19.430 --> 00:04:19.440 align:start position:0% connect through this routing system to 00:04:19.440 --> 00:04:20.270 align:start position:0% connect through this routing system to essentially<00:04:19.859> be<00:04:19.950> able<00:04:20.010> to<00:04:20.100> witness 00:04:20.270 --> 00:04:20.280 align:start position:0% essentially be able to witness 00:04:20.280 --> 00:04:21.620 align:start position:0% essentially be able to witness transactions<00:04:20.940> across<00:04:21.150> each<00:04:21.390> other's 00:04:21.620 --> 00:04:21.630 align:start position:0% transactions across each other's 00:04:21.630 --> 00:04:23.510 align:start position:0% transactions across each other's blockchain<00:04:22.049> so<00:04:22.289> you<00:04:22.770> know<00:04:22.860> one<00:04:23.039> of<00:04:23.070> the<00:04:23.220> the 00:04:23.510 --> 00:04:23.520 align:start position:0% blockchain so you know one of the the 00:04:23.520 --> 00:04:24.950 align:start position:0% blockchain so you know one of the the very<00:04:23.729> very<00:04:23.910> simple<00:04:24.270> problems<00:04:24.539> we<00:04:24.630> wanted<00:04:24.870> to 00:04:24.950 --> 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than one<00:04:30.870> block<00:04:31.020> chain<00:04:31.290> without<00:04:31.710> centralizing<00:04:32.550> the 00:04:32.570 --> 00:04:32.580 align:start position:0% one block chain without centralizing the 00:04:32.580 --> 00:04:35.480 align:start position:0% one block chain without centralizing the the<00:04:33.180> applications<00:04:33.720> layer<00:04:34.290> essentially<00:04:34.920> so 00:04:35.480 --> 00:04:35.490 align:start position:0% the applications layer essentially so 00:04:35.490 --> 00:04:37.370 align:start position:0% the applications layer essentially so today<00:04:35.820> if<00:04:36.000> you<00:04:36.120> wanted<00:04:36.300> to<00:04:36.450> tap<00:04:36.630> into<00:04:37.050> you<00:04:37.290> know 00:04:37.370 --> 00:04:37.380 align:start position:0% today if you wanted to tap into you know 00:04:37.380 --> 00:04:38.480 align:start position:0% today if you wanted to tap into you know the<00:04:37.470> etherium<00:04:37.770> network<00:04:38.010> the<00:04:38.100> Bitcoin<00:04:38.370> network 00:04:38.480 --> 00:04:38.490 align:start position:0% the etherium network the Bitcoin network 00:04:38.490 --> 00:04:40.310 align:start position:0% the etherium network the Bitcoin network and<00:04:38.850> like<00:04:39.030> a<00:04:39.060> private<00:04:39.450> hyper<00:04:39.600> ledger<00:04:39.840> network 00:04:40.310 --> 00:04:40.320 align:start position:0% and like a private hyper ledger network 00:04:40.320 --> 00:04:41.540 align:start position:0% and like a private hyper ledger network you'd<00:04:40.560> have<00:04:40.650> to<00:04:40.710> centralize<00:04:41.130> a<00:04:41.160> lot<00:04:41.370> of<00:04:41.460> that 00:04:41.540 --> 00:04:41.550 align:start position:0% you'd have to centralize a lot of that 00:04:41.550 --> 00:04:43.010 align:start position:0% you'd have to centralize a lot of that logic<00:04:41.700> onto<00:04:42.150> some<00:04:42.510> sort<00:04:42.690> of<00:04:42.750> web<00:04:42.840> based 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position:0% if this happens on blockchain a then trigger<00:04:49.140> this<00:04:49.290> on<00:04:49.410> blockchain<00:04:49.620> be<00:04:49.890> in<00:04:50.070> like<00:04:50.370> an 00:04:50.480 --> 00:04:50.490 align:start position:0% trigger this on blockchain be in like an 00:04:50.490 --> 00:04:52.550 align:start position:0% trigger this on blockchain be in like an autonomous<00:04:51.030> decentralized<00:04:51.630> way<00:04:51.720> so<00:04:52.350> that's 00:04:52.550 --> 00:04:52.560 align:start position:0% autonomous decentralized way so that's 00:04:52.560 --> 00:04:54.410 align:start position:0% autonomous decentralized way so that's kind<00:04:52.800> of<00:04:52.830> the<00:04:53.040> the<00:04:53.340> crux<00:04:53.820> of<00:04:53.940> our<00:04:54.060> design<00:04:54.390> and 00:04:54.410 --> 00:04:54.420 align:start position:0% kind of the the crux of our design and 00:04:54.420 --> 00:04:56.660 align:start position:0% kind of the the crux of our design and this<00:04:54.660> idea<00:04:55.290> of<00:04:55.440> bridging<00:04:55.920> participating 00:04:56.660 --> 00:04:56.670 align:start position:0% this idea of bridging participating 00:04:56.670 --> 00:04:58.850 align:start position:0% this idea of bridging participating block<00:04:56.880> chains<00:04:57.150> into<00:04:57.450> a<00:04:57.660> routing<00:04:58.290> system<00:04:58.650> and 00:04:58.850 --> 00:04:58.860 align:start position:0% block chains into a routing system and 00:04:58.860 --> 00:05:00.860 align:start position:0% block chains into a routing system and finally<00:04:59.580> I'll<00:04:59.880> dive<00:05:00.060> a<00:05:00.090> little<00:05:00.300> bit<00:05:00.480> more<00:05:00.630> into 00:05:00.860 --> 00:05:00.870 align:start position:0% finally I'll dive a little bit more into 00:05:00.870 --> 00:05:02.570 align:start position:0% finally I'll dive a little bit more into how<00:05:01.080> does<00:05:01.230> our<00:05:01.320> bridge<00:05:01.560> mechanism<00:05:02.100> work<00:05:02.310> and 00:05:02.570 --> 00:05:02.580 align:start position:0% how does our bridge mechanism work and 00:05:02.580 --> 00:05:04.160 align:start position:0% how does our bridge mechanism work and what<00:05:02.670> we<00:05:02.790> call<00:05:02.940> ICTs<00:05:03.450> or<00:05:03.600> interchange<00:05:04.020> hands 00:05:04.160 --> 00:05:04.170 align:start position:0% what we call ICTs or interchange hands 00:05:04.170 --> 00:05:05.660 align:start position:0% what we call ICTs or interchange hands actions<00:05:04.530> you<00:05:05.010> know<00:05:05.100> what's<00:05:05.280> the<00:05:05.430> incentive 00:05:05.660 --> 00:05:05.670 align:start position:0% actions you know what's the incentive 00:05:05.670 --> 00:05:07.280 align:start position:0% actions you know what's the incentive model<00:05:06.000> behind<00:05:06.420> actually<00:05:06.600> creating<00:05:07.170> these 00:05:07.280 --> 00:05:07.290 align:start position:0% model behind actually creating these 00:05:07.290 --> 00:05:09.200 align:start position:0% model behind actually creating these bridges<00:05:07.530> and<00:05:07.890> validating<00:05:08.430> transactions<00:05:09.060> and 00:05:09.200 --> 00:05:09.210 align:start position:0% bridges and validating transactions and 00:05:09.210 --> 00:05:11.480 align:start position:0% bridges and validating transactions and data<00:05:09.390> across<00:05:09.660> multiple<00:05:10.050> chains<00:05:10.350> so<00:05:11.310> let's 00:05:11.480 --> 00:05:11.490 align:start position:0% data across multiple chains so let's 00:05:11.490 --> 00:05:13.610 align:start position:0% data across multiple chains so let's start<00:05:11.670> with<00:05:11.760> a<00:05:11.790> on<00:05:11.970> one<00:05:12.150> to<00:05:12.450> two<00:05:13.440> major 00:05:13.610 --> 00:05:13.620 align:start position:0% start with a on one to two major 00:05:13.620 --> 00:05:15.080 align:start position:0% start with a on one to two major components<00:05:13.920> that<00:05:14.340> were<00:05:14.460> in<00:05:14.580> the<00:05:14.640> process<00:05:14.820> of 00:05:15.080 --> 00:05:15.090 align:start position:0% components that were in the process of 00:05:15.090 --> 00:05:16.790 align:start position:0% components that were in the process of developing<00:05:15.480> and<00:05:15.720> I'll<00:05:16.050> talk<00:05:16.410> a<00:05:16.440> little<00:05:16.680> bit 00:05:16.790 --> 00:05:16.800 align:start position:0% developing and I'll talk a little bit 00:05:16.800 --> 00:05:18.710 align:start position:0% developing and I'll talk a little bit about<00:05:16.920> where<00:05:17.160> we're<00:05:17.310> at<00:05:17.340> in<00:05:17.790> our<00:05:17.940> development 00:05:18.710 --> 00:05:18.720 align:start position:0% about where we're at in our development 00:05:18.720 --> 00:05:20.990 align:start position:0% about where we're at in our development timeline<00:05:19.050> and<00:05:19.440> roadmap<00:05:19.800> we're<00:05:20.640> having<00:05:20.940> a 00:05:20.990 --> 00:05:21.000 align:start position:0% timeline and roadmap we're having a 00:05:21.000 --> 00:05:22.340 align:start position:0% timeline and roadmap we're having a pretty<00:05:21.300> major<00:05:21.480> release<00:05:21.780> at<00:05:21.930> the<00:05:21.990> beginning<00:05:22.290> of 00:05:22.340 --> 00:05:22.350 align:start position:0% pretty major release at the beginning of 00:05:22.350 --> 00:05:23.810 align:start position:0% pretty major release at the beginning of 2018<00:05:22.890> where<00:05:23.130> you'll<00:05:23.280> see<00:05:23.400> some<00:05:23.640> of<00:05:23.670> this 00:05:23.810 --> 00:05:23.820 align:start position:0% 2018 where you'll see some of this 00:05:23.820 --> 00:05:26.060 align:start position:0% 2018 where you'll see some of this implemented<00:05:24.180> in<00:05:24.540> a<00:05:24.630> in<00:05:24.960> a<00:05:25.020> live<00:05:25.170> test<00:05:25.380> Network 00:05:26.060 --> 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of<00:05:38.430> the<00:05:38.520> java 00:05:38.720 --> 00:05:38.730 align:start position:0% by kind of characteristics of the java 00:05:38.730 --> 00:05:40.610 align:start position:0% by kind of characteristics of the java virtual<00:05:38.940> machine<00:05:39.120> to<00:05:39.720> pull<00:05:39.930> in<00:05:40.110> you<00:05:40.380> know<00:05:40.470> some 00:05:40.610 --> 00:05:40.620 align:start position:0% virtual machine to pull in you know some 00:05:40.620 --> 00:05:42.440 align:start position:0% virtual machine to pull in you know some of<00:05:40.650> this<00:05:40.770> enterprise<00:05:41.160> scale<00:05:41.340> that<00:05:41.730> large 00:05:42.440 --> 00:05:42.450 align:start position:0% of this enterprise scale that large 00:05:42.450 --> 00:05:44.120 align:start position:0% of this enterprise scale that large stream<00:05:42.780> large<00:05:43.170> mainstream<00:05:43.440> organizations 00:05:44.120 --> 00:05:44.130 align:start position:0% stream large mainstream organizations 00:05:44.130 --> 00:05:45.920 align:start position:0% stream large mainstream organizations have<00:05:44.250> just<00:05:44.400> relied<00:05:44.700> on<00:05:44.730> for<00:05:45.030> a<00:05:45.090> long<00:05:45.240> time<00:05:45.419> so 00:05:45.920 --> 00:05:45.930 align:start position:0% have just relied on for a long time so 00:05:45.930 --> 00:05:47.659 align:start position:0% have just relied on for a long time so the<00:05:46.080> idea<00:05:46.410> being<00:05:46.680> that<00:05:46.770> we<00:05:47.040> you<00:05:47.430> know<00:05:47.460> will 00:05:47.659 --> 00:05:47.669 align:start position:0% the idea being that we you know will 00:05:47.669 --> 00:05:48.920 align:start position:0% the idea being that we you know will still<00:05:47.850> be<00:05:47.940> able<00:05:48.000> to<00:05:48.150> support<00:05:48.390> languages<00:05:48.810> like 00:05:48.920 --> 00:05:48.930 align:start position:0% still be able to support languages like 00:05:48.930 --> 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Aeon<00:05:55.500> language<00:05:55.890> and<00:05:56.070> obviously 00:05:56.659 --> 00:05:56.669 align:start position:0% the Aeon language and obviously 00:05:56.669 --> 00:05:58.730 align:start position:0% the Aeon language and obviously everything<00:05:56.880> would<00:05:57.120> just<00:05:57.150> get<00:05:57.650> executing<00:05:58.650> them 00:05:58.730 --> 00:05:58.740 align:start position:0% everything would just get executing them 00:05:58.740 --> 00:06:01.580 align:start position:0% everything would just get executing them on<00:05:58.919> what<00:05:59.130> we<00:05:59.190> call<00:05:59.340> the<00:05:59.430> AVM<00:06:00.110> so<00:06:01.110> that's<00:06:01.290> that's 00:06:01.580 --> 00:06:01.590 align:start position:0% on what we call the AVM so that's that's 00:06:01.590 --> 00:06:03.680 align:start position:0% on what we call the AVM so that's that's one<00:06:01.860> characteristic<00:06:02.520> in<00:06:02.640> the<00:06:03.060> meantime<00:06:03.270> what 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little bit more<00:06:15.180> about<00:06:15.300> that<00:06:15.360> in<00:06:15.570> a<00:06:15.630> second<00:06:16.100> probably<00:06:17.100> one 00:06:17.420 --> 00:06:17.430 align:start position:0% more about that in a second probably one 00:06:17.430 --> 00:06:19.159 align:start position:0% more about that in a second probably one of<00:06:17.460> the<00:06:17.610> longer-term<00:06:18.060> and<00:06:18.660> more<00:06:19.050> ambitious 00:06:19.159 --> 00:06:19.169 align:start position:0% of the longer-term and more ambitious 00:06:19.169 --> 00:06:20.840 align:start position:0% of the longer-term and more ambitious parts<00:06:19.740> of<00:06:19.800> our<00:06:19.890> project<00:06:20.280> is<00:06:20.370> the<00:06:20.430> new 00:06:20.840 --> 00:06:20.850 align:start position:0% parts of our project is the new 00:06:20.850 --> 00:06:22.220 align:start position:0% parts of our project is the new consensus<00:06:21.330> algorithm<00:06:21.660> we're<00:06:21.780> designing<00:06:22.020> and 00:06:22.220 --> 00:06:22.230 align:start position:0% consensus algorithm we're designing and 00:06:22.230 --> 00:06:24.680 align:start position:0% consensus algorithm we're designing and if<00:06:22.470> you<00:06:22.590> can<00:06:22.770> follow<00:06:22.950> this<00:06:23.250> this<00:06:23.970> design<00:06:24.419> it's 00:06:24.680 --> 00:06:24.690 align:start position:0% if you can follow this this design it's 00:06:24.690 --> 00:06:26.780 align:start position:0% if you can follow this this design it's a<00:06:24.780> little<00:06:24.990> bit<00:06:25.110> tricky<00:06:25.710> to<00:06:25.800> understand<00:06:26.610> but 00:06:26.780 --> 00:06:26.790 align:start position:0% a little bit tricky to understand but 00:06:26.790 --> 00:06:28.010 align:start position:0% a little bit tricky to understand but you<00:06:26.880> can<00:06:27.030> dive<00:06:27.270> into<00:06:27.450> this<00:06:27.570> a<00:06:27.630> little<00:06:27.750> bit<00:06:27.900> more 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align:start position:0% that essentially gives us the characteristic<00:06:34.050> of<00:06:34.140> instant<00:06:34.500> finality<00:06:35.010> on 00:06:35.150 --> 00:06:35.160 align:start position:0% characteristic of instant finality on 00:06:35.160 --> 00:06:37.219 align:start position:0% characteristic of instant finality on this<00:06:35.640> connecting<00:06:36.090> network<00:06:36.390> so<00:06:36.630> when<00:06:37.050> we 00:06:37.219 --> 00:06:37.229 align:start position:0% this connecting network so when we 00:06:37.229 --> 00:06:38.750 align:start position:0% this connecting network so when we realized<00:06:37.710> hey<00:06:38.010> we<00:06:38.039> want<00:06:38.340> it<00:06:38.430> to<00:06:38.520> route 00:06:38.750 --> 00:06:38.760 align:start position:0% realized hey we want it to route 00:06:38.760 --> 00:06:40.490 align:start position:0% realized hey we want it to route transactions<00:06:39.450> across<00:06:39.630> many<00:06:39.900> block<00:06:40.200> chains 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have at every layer of routing the<00:06:46.139> need<00:06:46.379> to<00:06:46.559> wait<00:06:46.709> for<00:06:46.739> block<00:06:47.099> confirmations 00:06:47.719 --> 00:06:47.729 align:start position:0% the need to wait for block confirmations 00:06:47.729 --> 00:06:49.100 align:start position:0% the need to wait for block confirmations because<00:06:48.029> then<00:06:48.179> this<00:06:48.329> routing<00:06:48.569> mechanism 00:06:49.100 --> 00:06:49.110 align:start position:0% because then this routing mechanism 00:06:49.110 --> 00:06:50.449 align:start position:0% because then this routing mechanism would<00:06:49.169> become<00:06:49.409> completely<00:06:49.559> inefficient<00:06:50.189> if 00:06:50.449 --> 00:06:50.459 align:start position:0% would become completely inefficient if 00:06:50.459 --> 00:06:51.949 align:start position:0% would become completely inefficient if every<00:06:50.729> step<00:06:50.999> along<00:06:51.179> the<00:06:51.360> way<00:06:51.389> I<00:06:51.479> needed<00:06:51.779> to 00:06:51.949 --> 00:06:51.959 align:start position:0% every step along the way I needed to 00:06:51.959 --> 00:06:53.899 align:start position:0% every step along the way I needed to wait<00:06:52.079> six<00:06:52.709> to<00:06:52.829> ten<00:06:52.979> blocks<00:06:53.189> for<00:06:53.399> a<00:06:53.429> transaction 00:06:53.899 --> 00:06:53.909 align:start position:0% wait six to ten blocks for a transaction 00:06:53.909 --> 00:06:55.729 align:start position:0% wait six to ten blocks for a transaction to<00:06:53.939> be<00:06:54.059> accepted<00:06:54.899> and<00:06:55.079> then<00:06:55.169> transmitted<00:06:55.709> to 00:06:55.729 --> 00:06:55.739 align:start position:0% to be accepted and then transmitted to 00:06:55.739 --> 00:06:57.669 align:start position:0% to be accepted and then transmitted to the<00:06:55.860> next<00:06:55.889> network<00:06:56.189> so<00:06:56.789> we<00:06:56.909> had<00:06:57.029> to<00:06:57.119> design<00:06:57.239> a 00:06:57.669 --> 00:06:57.679 align:start position:0% the next network so we had to design a 00:06:57.679 --> 00:07:00.439 align:start position:0% the next network so we had to design a effective<00:06:58.729> incentive<00:06:59.729> mechanism<00:07:00.269> in<00:07:00.389> a 00:07:00.439 --> 00:07:00.449 align:start position:0% effective incentive mechanism in a 00:07:00.449 --> 00:07:02.689 align:start position:0% effective incentive mechanism in a consensus<00:07:00.959> model<00:07:01.289> that<00:07:01.499> was<00:07:01.739> instantly<00:07:02.279> final 00:07:02.689 --> 00:07:02.699 align:start position:0% consensus model that was instantly final 00:07:02.699 --> 00:07:04.539 align:start position:0% consensus model that was instantly final so<00:07:02.879> you've<00:07:03.089> seen<00:07:03.360> this<00:07:03.539> in<00:07:03.749> some<00:07:03.929> networks 00:07:04.539 --> 00:07:04.549 align:start position:0% so you've seen this in some networks 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follow<00:07:10.379> this<00:07:10.649> diagram<00:07:11.039> with<00:07:11.219> me<00:07:11.369> you'll 00:07:12.109 --> 00:07:12.119 align:start position:0% follow this diagram with me you'll 00:07:12.119 --> 00:07:14.419 align:start position:0% follow this diagram with me you'll notice<00:07:12.419> here<00:07:12.809> this<00:07:13.619> is<00:07:13.769> intended<00:07:14.099> to<00:07:14.249> be<00:07:14.339> a 00:07:14.419 --> 00:07:14.429 align:start position:0% notice here this is intended to be a 00:07:14.429 --> 00:07:17.149 align:start position:0% notice here this is intended to be a brain<00:07:14.789> and<00:07:15.089> in<00:07:15.719> a<00:07:15.959> dollar<00:07:16.259> sign<00:07:16.499> so<00:07:16.769> we're 00:07:17.149 --> 00:07:17.159 align:start position:0% brain and in a dollar sign so we're 00:07:17.159 --> 00:07:18.799 align:start position:0% brain and in a dollar sign so we're building<00:07:17.249> essentially<00:07:17.789> a<00:07:17.909> consensus 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this<00:07:31.860> would<00:07:32.039> not<00:07:32.249> be<00:07:32.399> too<00:07:32.669> dissimilar 00:07:32.959 --> 00:07:32.969 align:start position:0% I BFT this would not be too dissimilar 00:07:32.969 --> 00:07:35.089 align:start position:0% I BFT this would not be too dissimilar at<00:07:33.809> the<00:07:33.959> core<00:07:34.169> of<00:07:34.199> the<00:07:34.349> network<00:07:34.589> to<00:07:34.769> something 00:07:35.089 --> 00:07:35.099 align:start position:0% at the core of the network to something 00:07:35.099 --> 00:07:37.669 align:start position:0% at the core of the network to something like<00:07:35.309> the<00:07:35.429> IB<00:07:35.699> of<00:07:35.789> T<00:07:35.999> consensus<00:07:36.719> that<00:07:36.869> amy<00:07:37.379> has 00:07:37.669 --> 00:07:37.679 align:start position:0% like the IB of T consensus that amy has 00:07:37.679 --> 00:07:39.949 align:start position:0% like the IB of T consensus that amy has been<00:07:38.069> working<00:07:38.399> on<00:07:38.669> and<00:07:39.419> then<00:07:39.569> behind<00:07:39.719> this 00:07:39.949 --> 00:07:39.959 align:start position:0% been working on and then behind this 00:07:39.959 --> 00:07:41.479 align:start position:0% been working on and then behind this validator<00:07:40.409> is<00:07:40.469> the<00:07:40.649> idea<00:07:40.919> that<00:07:40.979> people<00:07:41.129> can 00:07:41.479 --> 00:07:41.489 align:start position:0% validator is the idea that people can 00:07:41.489 --> 00:07:43.459 align:start position:0% validator is the idea that people can support<00:07:41.729> validators<00:07:42.479> by<00:07:42.779> either<00:07:42.959> staking 00:07:43.459 --> 00:07:43.469 align:start position:0% support validators by either staking 00:07:43.469 --> 00:07:45.079 align:start position:0% support validators by either staking tokens<00:07:43.769> into<00:07:43.949> the<00:07:44.039> system<00:07:44.339> or<00:07:44.579> doing 00:07:45.079 --> 00:07:45.089 align:start position:0% tokens into the system or doing 00:07:45.089 --> 00:07:46.519 align:start position:0% tokens into the system or doing something<00:07:45.269> we<00:07:45.419> call<00:07:45.569> solving<00:07:46.019> running<00:07:46.409> our 00:07:46.519 --> 00:07:46.529 align:start position:0% something we call solving running our 00:07:46.529 --> 00:07:47.899 align:start position:0% something we call solving running our proof<00:07:46.739> of<00:07:46.829> intelligence<00:07:47.339> algorithm<00:07:47.759> to 00:07:47.899 --> 00:07:47.909 align:start position:0% proof of intelligence algorithm to 00:07:47.909 --> 00:07:49.279 align:start position:0% proof of intelligence algorithm to essentially<00:07:48.239> prove<00:07:48.509> computation<00:07:49.139> of<00:07:49.199> the 00:07:49.279 --> 00:07:49.289 align:start position:0% essentially prove computation of the 00:07:49.289 --> 00:07:50.239 align:start position:0% essentially prove computation of the network 00:07:50.239 --> 00:07:50.249 align:start position:0% network 00:07:50.249 --> 00:07:52.549 align:start position:0% network the<00:07:50.759> long-term<00:07:50.999> goal<00:07:51.269> here<00:07:51.809> is<00:07:51.959> to<00:07:52.199> create 00:07:52.549 --> 00:07:52.559 align:start position:0% the long-term goal here is to create 00:07:52.559 --> 00:07:55.309 align:start position:0% the long-term goal here is to create deep<00:07:53.519> neural<00:07:53.819> network<00:07:54.419> capabilities<00:07:55.050> on<00:07:55.169> top 00:07:55.309 --> 00:07:55.319 align:start position:0% deep neural network capabilities on top 00:07:55.319 --> 00:07:56.839 align:start position:0% deep neural network capabilities on top of<00:07:55.439> the<00:07:55.499> blockchain<00:07:55.709> so<00:07:56.069> that<00:07:56.219> you<00:07:56.489> know<00:07:56.610> when 00:07:56.839 --> 00:07:56.849 align:start position:0% of the blockchain so that you know when 00:07:56.849 --> 00:07:58.819 align:start position:0% of the blockchain so that you know when we<00:07:56.879> get<00:07:57.300> to<00:07:57.479> the<00:07:57.599> long<00:07:58.019> term<00:07:58.259> potential<00:07:58.679> list 00:07:58.819 --> 00:07:58.829 align:start position:0% we get to the long term potential list 00:07:58.829 --> 00:07:59.799 align:start position:0% we get to the long term potential list technology<00:07:59.309> we<00:07:59.459> could<00:07:59.579> be<00:07:59.669> running 00:07:59.799 --> 00:07:59.809 align:start position:0% technology we could be running 00:07:59.809 --> 00:08:02.089 align:start position:0% technology we could be running artificially<00:08:00.809> intelligent<00:08:01.019> applications<00:08:01.860> on 00:08:02.089 --> 00:08:02.099 align:start position:0% artificially intelligent applications on 00:08:02.099 --> 00:08:04.159 align:start position:0% artificially intelligent applications on top<00:08:02.309> of<00:08:02.459> blockchain<00:08:02.909> at<00:08:03.059> scale<00:08:03.389> so<00:08:03.959> we're 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staking 00:08:12.329 --> 00:08:13.549 align:start position:0% the network as an alternative to staking tokens<00:08:12.659> so<00:08:12.839> we're<00:08:12.929> gonna<00:08:13.019> have<00:08:13.199> this<00:08:13.289> kind<00:08:13.499> of 00:08:13.549 --> 00:08:13.559 align:start position:0% tokens so we're gonna have this kind of 00:08:13.559 --> 00:08:15.829 align:start position:0% tokens so we're gonna have this kind of three<00:08:13.949> actor<00:08:14.639> three<00:08:14.969> types<00:08:15.209> of<00:08:15.360> validators 00:08:15.829 --> 00:08:15.839 align:start position:0% three actor three types of validators 00:08:15.839 --> 00:08:16.999 align:start position:0% three actor three types of validators that<00:08:15.959> participate<00:08:16.379> in<00:08:16.409> the<00:08:16.589> consensus 00:08:16.999 --> 00:08:17.009 align:start position:0% that participate in the consensus 00:08:17.009 --> 00:08:19.609 align:start position:0% that participate in the consensus process<00:08:17.159> a<00:08:17.939> lot<00:08:18.419> more<00:08:18.599> to<00:08:18.719> dive<00:08:18.899> in<00:08:19.079> on<00:08:19.169> the<00:08:19.379> on 00:08:19.609 --> 00:08:19.619 align:start position:0% process a lot more to dive in on the on 00:08:19.619 --> 00:08:21.709 align:start position:0% process a lot more to dive in on the on here<00:08:19.860> but<00:08:20.429> I<00:08:20.579> won't<00:08:20.759> go<00:08:20.909> too<00:08:20.969> deep<00:08:21.149> but<00:08:21.569> you 00:08:21.709 --> 00:08:21.719 align:start position:0% here but I won't go too deep but you 00:08:21.719 --> 00:08:23.149 align:start position:0% here but I won't go too deep but you know<00:08:21.869> there's<00:08:22.079> also<00:08:22.259> a<00:08:22.379> mechanism<00:08:22.829> of<00:08:23.009> how<00:08:23.099> do 00:08:23.149 --> 00:08:23.159 align:start position:0% know there's also a mechanism of how do 00:08:23.159 --> 00:08:24.289 align:start position:0% know there's also a mechanism of how do you<00:08:23.249> become<00:08:23.399> a<00:08:23.549> validator<00:08:23.999> how<00:08:24.149> do<00:08:24.209> you 00:08:24.289 --> 00:08:24.299 align:start position:0% you become a validator how do you 00:08:24.299 --> 00:08:26.239 align:start position:0% you become a validator how do you nominate<00:08:24.719> yourself<00:08:24.809> how<00:08:25.529> do<00:08:25.589> you<00:08:25.709> get<00:08:25.860> removed 00:08:26.239 --> 00:08:26.249 align:start position:0% nominate yourself how do you get removed 00:08:26.249 --> 00:08:27.709 align:start position:0% nominate yourself how do you get removed from<00:08:26.369> validation<00:08:26.969> if<00:08:27.089> you're<00:08:27.209> seemed<00:08:27.479> to<00:08:27.599> have 00:08:27.709 --> 00:08:27.719 align:start position:0% from validation if you're seemed to have 00:08:27.719 --> 00:08:29.629 align:start position:0% from validation if you're seemed to have been<00:08:27.869> malicious<00:08:28.439> or<00:08:28.649> acting<00:08:28.979> dishonestly<00:08:29.489> in 00:08:29.629 --> 00:08:29.639 align:start position:0% been malicious or acting dishonestly in 00:08:29.639 --> 00:08:31.189 align:start position:0% been malicious or acting dishonestly in the<00:08:29.699> network<00:08:29.969> so<00:08:30.419> we've<00:08:30.569> kind<00:08:30.749> of<00:08:30.779> laid<00:08:31.019> this 00:08:31.189 --> 00:08:31.199 align:start position:0% the network so we've kind of laid this 00:08:31.199 --> 00:08:32.329 align:start position:0% the network so we've kind of laid this out<00:08:31.379> we'll<00:08:31.589> be<00:08:31.709> we'll<00:08:31.889> be<00:08:31.919> doing<00:08:32.129> a<00:08:32.189> lot<00:08:32.279> more 00:08:32.329 --> 00:08:32.339 align:start position:0% out we'll be we'll be doing a lot more 00:08:32.339 --> 00:08:34.309 align:start position:0% out we'll be we'll be doing a lot more kind<00:08:32.610> of<00:08:32.699> diving<00:08:33.240> in<00:08:33.539> and<00:08:33.659> explaining<00:08:34.019> this<00:08:34.169> in 00:08:34.309 --> 00:08:34.319 align:start position:0% kind of diving in and explaining this in 00:08:34.319 --> 00:08:35.990 align:start position:0% kind of diving in and explaining this in some<00:08:34.709> subsequent<00:08:35.009> papers<00:08:35.430> but<00:08:35.610> you<00:08:35.729> can<00:08:35.879> read 00:08:35.990 --> 00:08:36.000 align:start position:0% some subsequent papers but you can read 00:08:36.000 --> 00:08:37.850 align:start position:0% some subsequent papers but you can read about<00:08:36.029> this<00:08:36.360> online<00:08:36.750> if<00:08:37.409> you<00:08:37.500> follow<00:08:37.709> the 00:08:37.850 --> 00:08:37.860 align:start position:0% about this online if you follow the 00:08:37.860 --> 00:08:41.689 align:start position:0% about this online if you follow the project<00:08:38.629> so<00:08:39.629> this<00:08:40.349> is<00:08:40.500> a<00:08:40.620> on<00:08:40.769> one<00:08:41.009> at<00:08:41.219> the<00:08:41.430> core 00:08:41.689 --> 00:08:41.699 align:start position:0% project so this is a on one at the core 00:08:41.699 --> 00:08:44.209 align:start position:0% project so this is a on one at the core of<00:08:42.000> this<00:08:42.779> concept<00:08:43.500> is<00:08:43.620> also<00:08:43.769> the<00:08:43.919> fact<00:08:44.069> that 00:08:44.209 --> 00:08:44.219 align:start position:0% of this concept is also the fact that 00:08:44.219 --> 00:08:46.699 align:start position:0% of this concept is also the fact that the<00:08:44.309> main<00:08:44.459> network<00:08:44.790> has<00:08:44.939> another<00:08:45.709> interesting 00:08:46.699 --> 00:08:46.709 align:start position:0% the main network has another interesting 00:08:46.709 --> 00:08:48.379 align:start position:0% the main network has another interesting functionality<00:08:47.189> and<00:08:47.519> it's<00:08:47.730> this<00:08:47.910> idea<00:08:48.059> of 00:08:48.379 --> 00:08:48.389 align:start position:0% functionality and it's this idea of 00:08:48.389 --> 00:08:50.210 align:start position:0% functionality and it's this idea of being<00:08:48.540> able<00:08:48.750> to<00:08:48.990> bridge<00:08:49.230> participating<00:08:50.040> block 00:08:50.210 --> 00:08:50.220 align:start position:0% being able to bridge participating block 00:08:50.220 --> 00:08:52.040 align:start position:0% being able to bridge participating block chains<00:08:50.490> into<00:08:50.939> what<00:08:51.209> we<00:08:51.329> call<00:08:51.540> our<00:08:51.660> connecting 00:08:52.040 --> 00:08:52.050 align:start position:0% chains into what we call our connecting 00:08:52.050 --> 00:08:54.860 align:start position:0% chains into what we call our connecting network<00:08:52.610> one<00:08:53.610> high-level<00:08:54.120> philosophy<00:08:54.720> when 00:08:54.860 --> 00:08:54.870 align:start position:0% network one high-level philosophy when 00:08:54.870 --> 00:08:55.740 align:start position:0% network one high-level philosophy when we<00:08:54.959> set<00:08:55.170> out<00:08:55.290> was<00:08:55.500> that 00:08:55.740 --> 00:08:55.750 align:start position:0% we set out was that 00:08:55.750 --> 00:08:57.210 align:start position:0% we set out was that we're<00:08:55.930> gonna<00:08:56.170> build<00:08:56.350> a<00:08:56.500> design<00:08:56.620> of<00:08:56.920> a<00:08:56.980> network 00:08:57.210 --> 00:08:57.220 align:start position:0% we're gonna build a design of a network 00:08:57.220 --> 00:08:58.500 align:start position:0% we're gonna build a design of a network that<00:08:57.250> allowed<00:08:57.640> you<00:08:57.790> to<00:08:57.850> connect<00:08:58.150> other<00:08:58.270> block 00:08:58.500 --> 00:08:58.510 align:start position:0% that allowed you to connect other block 00:08:58.510 --> 00:08:59.580 align:start position:0% that allowed you to connect other block chains<00:08:58.750> but<00:08:58.900> we<00:08:58.990> also<00:08:59.140> had<00:08:59.320> this<00:08:59.410> philosophy 00:08:59.580 --> 00:08:59.590 align:start position:0% chains but we also had this philosophy 00:08:59.590 --> 00:09:01.440 align:start position:0% chains but we also had this philosophy of<00:08:59.920> all<00:09:00.040> chains<00:09:00.310> being<00:09:00.490> equal<00:09:01.090> inside<00:09:01.360> the 00:09:01.440 --> 00:09:01.450 align:start position:0% of all chains being equal inside the 00:09:01.450 --> 00:09:03.060 align:start position:0% of all chains being equal inside the system<00:09:01.750> meaning<00:09:02.500> I<00:09:02.680> could<00:09:02.860> build<00:09:02.950> a 00:09:03.060 --> 00:09:03.070 align:start position:0% system meaning I could build a 00:09:03.070 --> 00:09:04.380 align:start position:0% system meaning I could build a connecting<00:09:03.460> network<00:09:03.730> but<00:09:03.940> that<00:09:04.090> somebody 00:09:04.380 --> 00:09:04.390 align:start position:0% connecting network but that somebody 00:09:04.390 --> 00:09:06.120 align:start position:0% connecting network but that somebody else<00:09:04.630> could<00:09:04.810> also<00:09:04.960> connect<00:09:05.500> to<00:09:05.530> me<00:09:05.710> and<00:09:05.860> become 00:09:06.120 --> 00:09:06.130 align:start position:0% else could also connect to me and become 00:09:06.130 --> 00:09:07.980 align:start position:0% else could also connect to me and become a<00:09:06.160> connecting<00:09:06.580> network<00:09:06.850> to<00:09:06.970> somebody<00:09:07.240> else<00:09:07.420> so 00:09:07.980 --> 00:09:07.990 align:start position:0% a connecting network to somebody else so 00:09:07.990 --> 00:09:09.060 align:start position:0% a connecting network to somebody else so instead<00:09:08.320> of<00:09:08.380> this<00:09:08.560> being<00:09:08.770> kind<00:09:08.890> of<00:09:09.010> a 00:09:09.060 --> 00:09:09.070 align:start position:0% instead of this being kind of a 00:09:09.070 --> 00:09:10.710 align:start position:0% instead of this being kind of a two-tiered<00:09:09.460> system<00:09:09.670> with<00:09:09.970> one<00:09:10.090> network<00:09:10.480> and 00:09:10.710 --> 00:09:10.720 align:start position:0% two-tiered system with one network and 00:09:10.720 --> 00:09:12.660 align:start position:0% two-tiered system with one network and others<00:09:11.080> surrounding<00:09:11.650> it<00:09:11.770> we<00:09:12.160> see<00:09:12.340> this<00:09:12.460> kind 00:09:12.660 --> 00:09:12.670 align:start position:0% others surrounding it we see this kind 00:09:12.670 --> 00:09:15.120 align:start position:0% others surrounding it we see this kind of<00:09:12.730> evolving<00:09:13.120> more<00:09:13.300> is<00:09:13.420> like<00:09:13.720> a<00:09:13.900> very<00:09:14.320> complex 00:09:15.120 --> 00:09:15.130 align:start position:0% of evolving more is like a very complex 00:09:15.130 --> 00:09:16.680 align:start position:0% of evolving more is like a very complex spiderweb<00:09:15.790> with<00:09:15.910> everybody<00:09:16.360> becoming 00:09:16.680 --> 00:09:16.690 align:start position:0% spiderweb with everybody becoming 00:09:16.690 --> 00:09:17.910 align:start position:0% spiderweb with everybody becoming participating<00:09:17.380> networks<00:09:17.650> to<00:09:17.800> other 00:09:17.910 --> 00:09:17.920 align:start position:0% participating networks to other 00:09:17.920 --> 00:09:19.950 align:start position:0% participating networks to other connectors<00:09:18.400> so<00:09:19.000> that<00:09:19.150> at<00:09:19.240> some<00:09:19.270> point<00:09:19.720> you<00:09:19.840> can 00:09:19.950 --> 00:09:19.960 align:start position:0% connectors so that at some point you can 00:09:19.960 --> 00:09:21.480 align:start position:0% connectors so that at some point you can route<00:09:20.140> transactions<00:09:20.830> from<00:09:20.980> one<00:09:21.130> blockchain 00:09:21.480 --> 00:09:21.490 align:start position:0% route transactions from one blockchain 00:09:21.490 --> 00:09:23.760 align:start position:0% route transactions from one blockchain to<00:09:21.610> another<00:09:21.820> recognize<00:09:22.720> what's<00:09:22.990> going<00:09:23.080> on<00:09:23.470> and 00:09:23.760 --> 00:09:23.770 align:start position:0% to another recognize what's going on and 00:09:23.770 --> 00:09:26.580 align:start position:0% to another recognize what's going on and act<00:09:24.070> on<00:09:24.400> as<00:09:25.300> a<00:09:25.330> result<00:09:25.780> of<00:09:25.900> those<00:09:25.990> transactions 00:09:26.580 --> 00:09:26.590 align:start position:0% act on as a result of those transactions 00:09:26.590 --> 00:09:29.610 align:start position:0% act on as a result of those transactions so<00:09:27.330> one<00:09:28.330> of<00:09:28.420> the<00:09:28.510> the<00:09:28.900> pieces<00:09:29.230> of<00:09:29.350> research 00:09:29.610 --> 00:09:29.620 align:start position:0% so one of the the pieces of research 00:09:29.620 --> 00:09:31.080 align:start position:0% so one of the the pieces of research that<00:09:29.650> we<00:09:29.890> did<00:09:29.980> going<00:09:30.190> into<00:09:30.430> this<00:09:30.610> was<00:09:30.820> the<00:09:30.910> fact 00:09:31.080 --> 00:09:31.090 align:start position:0% that we did going into this was the fact 00:09:31.090 --> 00:09:32.700 align:start position:0% that we did going into this was the fact that<00:09:31.210> you<00:09:31.540> know<00:09:31.630> one<00:09:31.870> blockchain<00:09:32.290> connecting 00:09:32.700 --> 00:09:32.710 align:start position:0% that you know one blockchain connecting 00:09:32.710 --> 00:09:34.200 align:start position:0% that you know one blockchain connecting to<00:09:32.800> another<00:09:32.920> was<00:09:33.250> not<00:09:33.400> all<00:09:33.580> not<00:09:33.850> all<00:09:33.880> that 00:09:34.200 --> 00:09:34.210 align:start position:0% to another was not all not all that 00:09:34.210 --> 00:09:35.640 align:start position:0% to another was not all not all that novel<00:09:34.570> of<00:09:34.660> a<00:09:34.720> problem<00:09:34.960> to<00:09:35.170> solve<00:09:35.320> there's<00:09:35.530> been 00:09:35.640 --> 00:09:35.650 align:start position:0% novel of a problem to solve there's been 00:09:35.650 --> 00:09:37.770 align:start position:0% novel of a problem to solve there's been a<00:09:35.710> lot<00:09:35.860> of<00:09:35.980> interesting<00:09:36.910> research<00:09:37.060> projects 00:09:37.770 --> 00:09:37.780 align:start position:0% a lot of interesting research projects 00:09:37.780 --> 00:09:40.290 align:start position:0% a lot of interesting research projects big<00:09:38.020> BTC<00:09:38.740> relay<00:09:39.040> is<00:09:39.160> a<00:09:39.460> good<00:09:39.700> example<00:09:40.000> of 00:09:40.290 --> 00:09:40.300 align:start position:0% big BTC relay is a good example of 00:09:40.300 --> 00:09:42.300 align:start position:0% big BTC relay is a good example of people<00:09:40.750> that<00:09:40.990> set<00:09:41.260> out<00:09:41.380> to<00:09:41.650> essentially<00:09:42.070> solve 00:09:42.300 --> 00:09:42.310 align:start position:0% people that set out to essentially solve 00:09:42.310 --> 00:09:43.830 align:start position:0% people that set out to essentially solve this<00:09:42.430> concept<00:09:42.910> of<00:09:43.000> one-to-one<00:09:43.330> blockchain 00:09:43.830 --> 00:09:43.840 align:start position:0% this concept of one-to-one blockchain 00:09:43.840 --> 00:09:45.540 align:start position:0% this concept of one-to-one blockchain connections<00:09:44.290> how<00:09:44.800> do<00:09:44.860> you<00:09:45.010> trigger<00:09:45.460> a 00:09:45.540 --> 00:09:45.550 align:start position:0% connections how do you trigger a 00:09:45.550 --> 00:09:47.190 align:start position:0% connections how do you trigger a transaction<00:09:46.120> on<00:09:46.180> the<00:09:46.300> etherium<00:09:46.720> network<00:09:46.960> as<00:09:47.170> a 00:09:47.190 --> 00:09:47.200 align:start position:0% transaction on the etherium network as a 00:09:47.200 --> 00:09:48.540 align:start position:0% transaction on the etherium network as a result<00:09:47.590> of<00:09:47.710> the<00:09:47.770> transaction<00:09:47.980> on<00:09:48.340> the<00:09:48.370> Bitcoin 00:09:48.540 --> 00:09:48.550 align:start position:0% result of the transaction on the Bitcoin 00:09:48.550 --> 00:09:50.070 align:start position:0% result of the transaction on the Bitcoin network<00:09:48.790> that's<00:09:49.090> what<00:09:49.210> BTC<00:09:49.570> really<00:09:49.810> set<00:09:49.990> out 00:09:50.070 --> 00:09:50.080 align:start position:0% network that's what BTC really set out 00:09:50.080 --> 00:09:52.440 align:start position:0% network that's what BTC really set out to<00:09:50.200> sell<00:09:50.380> so<00:09:50.890> this<00:09:51.040> one<00:09:51.310> this<00:09:51.730> one<00:09:51.970> blockchain 00:09:52.440 --> 00:09:52.450 align:start position:0% to sell so this one this one blockchain 00:09:52.450 --> 00:09:53.790 align:start position:0% to sell so this one this one blockchain the<00:09:52.540> one<00:09:52.660> blockchain<00:09:53.110> problem<00:09:53.470> essentially 00:09:53.790 --> 00:09:53.800 align:start position:0% the one blockchain problem essentially 00:09:53.800 --> 00:09:55.830 align:start position:0% the one blockchain problem essentially being<00:09:54.040> able<00:09:54.100> to<00:09:54.220> prove<00:09:54.490> that<00:09:54.850> transactions 00:09:55.830 --> 00:09:55.840 align:start position:0% being able to prove that transactions 00:09:55.840 --> 00:09:57.390 align:start position:0% being able to prove that transactions validly<00:09:56.170> occurred<00:09:56.560> on<00:09:56.770> another<00:09:56.980> blockchain 00:09:57.390 --> 00:09:57.400 align:start position:0% validly occurred on another blockchain 00:09:57.400 --> 00:09:59.250 align:start position:0% validly occurred on another blockchain it<00:09:57.490> was<00:09:57.580> relatively<00:09:57.910> solvable<00:09:58.420> what<00:09:58.990> was<00:09:59.110> not 00:09:59.250 --> 00:09:59.260 align:start position:0% it was relatively solvable what was not 00:09:59.260 --> 00:10:01.320 align:start position:0% it was relatively solvable what was not solvable<00:09:59.680> and<00:10:00.010> our<00:10:00.160> hypothesis<00:10:00.850> is<00:10:01.060> that 00:10:01.320 --> 00:10:01.330 align:start position:0% solvable and our hypothesis is that 00:10:01.330 --> 00:10:03.270 align:start position:0% solvable and our hypothesis is that we're<00:10:01.930> gonna<00:10:01.990> have<00:10:02.110> tens<00:10:02.500> of<00:10:02.650> thousands<00:10:03.100> maybe 00:10:03.270 --> 00:10:03.280 align:start position:0% we're gonna have tens of thousands maybe 00:10:03.280 --> 00:10:04.770 align:start position:0% we're gonna have tens of thousands maybe hundreds<00:10:03.700> of<00:10:03.760> thousands<00:10:04.180> of<00:10:04.240> block<00:10:04.420> chains<00:10:04.660> at 00:10:04.770 --> 00:10:04.780 align:start position:0% hundreds of thousands of block chains at 00:10:04.780 --> 00:10:05.970 align:start position:0% hundreds of thousands of block chains at some<00:10:04.960> point<00:10:05.170> and<00:10:05.320> then<00:10:05.380> not<00:10:05.530> so<00:10:05.680> distant 00:10:05.970 --> 00:10:05.980 align:start position:0% some point and then not so distant 00:10:05.980 --> 00:10:07.800 align:start position:0% some point and then not so distant future<00:10:06.070> some<00:10:06.910> that<00:10:07.060> are<00:10:07.120> built<00:10:07.270> privately 00:10:07.800 --> 00:10:07.810 align:start position:0% future some that are built privately 00:10:07.810 --> 00:10:09.480 align:start position:0% future some that are built privately some<00:10:08.050> that<00:10:08.170> are<00:10:08.230> built<00:10:08.380> publicly<00:10:08.830> some<00:10:09.370> that 00:10:09.480 --> 00:10:09.490 align:start position:0% some that are built publicly some that 00:10:09.490 --> 00:10:11.190 align:start position:0% some that are built publicly some that are<00:10:09.580> built<00:10:09.730> and<00:10:10.000> backed<00:10:10.330> by<00:10:10.480> governments<00:10:11.050> and 00:10:11.190 --> 00:10:11.200 align:start position:0% are built and backed by governments and 00:10:11.200 --> 00:10:13.800 align:start position:0% are built and backed by governments and some<00:10:11.320> not<00:10:11.530> and<00:10:12.430> at<00:10:12.790> the<00:10:13.000> end<00:10:13.150> of<00:10:13.210> all<00:10:13.330> this<00:10:13.480> you 00:10:13.800 --> 00:10:13.810 align:start position:0% some not and at the end of all this you 00:10:13.810 --> 00:10:16.050 align:start position:0% some not and at the end of all this you know<00:10:13.839> the<00:10:14.170> concept<00:10:14.800> of<00:10:15.010> the<00:10:15.370> next<00:10:15.610> generation 00:10:16.050 --> 00:10:16.060 align:start position:0% know the concept of the next generation 00:10:16.060 --> 00:10:17.790 align:start position:0% know the concept of the next generation of<00:10:16.120> the<00:10:16.210> Internet<00:10:16.510> is<00:10:16.660> off<00:10:16.810> people<00:10:17.500> like<00:10:17.650> to 00:10:17.790 --> 00:10:17.800 align:start position:0% of the Internet is off people like to 00:10:17.800 --> 00:10:19.710 align:start position:0% of the Internet is off people like to refer<00:10:18.070> to<00:10:18.100> this<00:10:18.670> technology<00:10:19.180> is<00:10:19.270> not<00:10:19.390> going<00:10:19.450> to 00:10:19.710 --> 00:10:19.720 align:start position:0% refer to this technology is not going to 00:10:19.720 --> 00:10:21.450 align:start position:0% refer to this technology is not going to come<00:10:19.870> from<00:10:20.110> a<00:10:20.530> whole<00:10:20.680> bunch<00:10:20.710> of<00:10:20.980> isolated 00:10:21.450 --> 00:10:21.460 align:start position:0% come from a whole bunch of isolated 00:10:21.460 --> 00:10:22.980 align:start position:0% come from a whole bunch of isolated networks<00:10:21.730> but<00:10:21.940> of<00:10:22.030> one<00:10:22.300> kind<00:10:22.570> of<00:10:22.690> common 00:10:22.980 --> 00:10:22.990 align:start position:0% networks but of one kind of common 00:10:22.990 --> 00:10:25.010 align:start position:0% networks but of one kind of common ecosystem<00:10:23.560> connected<00:10:24.010> block<00:10:24.160> chains<00:10:24.370> so 00:10:25.010 --> 00:10:25.020 align:start position:0% ecosystem connected block chains so 00:10:25.020 --> 00:10:27.030 align:start position:0% ecosystem connected block chains so essentially<00:10:26.020> we've<00:10:26.140> got<00:10:26.290> three<00:10:26.920> different 00:10:27.030 --> 00:10:27.040 align:start position:0% essentially we've got three different 00:10:27.040 --> 00:10:29.280 align:start position:0% essentially we've got three different types<00:10:27.460> of<00:10:27.790> or<00:10:28.270> two<00:10:28.570> different<00:10:28.839> types<00:10:28.990> of<00:10:29.140> block 00:10:29.280 --> 00:10:29.290 align:start position:0% types of or two different types of block 00:10:29.290 --> 00:10:30.390 align:start position:0% types of or two different types of block chains<00:10:29.500> that<00:10:29.589> we're<00:10:29.740> looking<00:10:29.920> at<00:10:30.010> connecting 00:10:30.390 --> 00:10:30.400 align:start position:0% chains that we're looking at connecting 00:10:30.400 --> 00:10:31.710 align:start position:0% chains that we're looking at connecting so<00:10:30.520> one<00:10:30.670> obviously<00:10:31.000> is<00:10:31.120> a<00:10:31.150> legacy<00:10:31.330> block 00:10:31.710 --> 00:10:31.720 align:start position:0% so one obviously is a legacy block 00:10:31.720 --> 00:10:33.329 align:start position:0% so one obviously is a legacy block chains<00:10:31.930> block<00:10:32.110> chains<00:10:32.290> that<00:10:32.380> exist<00:10:32.650> today<00:10:32.800> the 00:10:33.329 --> 00:10:33.339 align:start position:0% chains block chains that exist today the 00:10:33.339 --> 00:10:34.470 align:start position:0% chains block chains that exist today the first<00:10:33.550> bridge<00:10:33.790> implementation<00:10:34.330> we're 00:10:34.470 --> 00:10:34.480 align:start position:0% first bridge implementation we're 00:10:34.480 --> 00:10:36.000 align:start position:0% first bridge implementation we're building<00:10:34.720> is<00:10:34.810> to<00:10:34.930> the<00:10:35.020> etherium<00:10:35.410> network<00:10:35.650> I'll 00:10:36.000 --> 00:10:36.010 align:start position:0% building is to the etherium network I'll 00:10:36.010 --> 00:10:37.200 align:start position:0% building is to the etherium network I'll talk<00:10:36.250> a<00:10:36.280> little<00:10:36.520> bit<00:10:36.670> more<00:10:36.790> about<00:10:36.940> how<00:10:37.060> we're 00:10:37.200 --> 00:10:37.210 align:start position:0% talk a little bit more about how we're 00:10:37.210 --> 00:10:38.640 align:start position:0% talk a little bit more about how we're doing<00:10:37.330> that<00:10:37.570> at<00:10:37.660> the<00:10:37.780> token<00:10:38.080> level<00:10:38.350> but<00:10:38.530> also 00:10:38.640 --> 00:10:38.650 align:start position:0% doing that at the token level but also 00:10:38.650 --> 00:10:40.170 align:start position:0% doing that at the token level but also just<00:10:38.980> a<00:10:39.100> generic<00:10:39.250> bridge<00:10:39.730> about<00:10:39.940> how<00:10:40.060> do<00:10:40.120> you 00:10:40.170 --> 00:10:40.180 align:start position:0% just a generic bridge about how do you 00:10:40.180 --> 00:10:42.480 align:start position:0% just a generic bridge about how do you recognize<00:10:40.570> state<00:10:41.140> across<00:10:41.920> multiple<00:10:42.190> block 00:10:42.480 --> 00:10:42.490 align:start position:0% recognize state across multiple block 00:10:42.490 --> 00:10:44.400 align:start position:0% recognize state across multiple block chains<00:10:42.730> so<00:10:43.210> this<00:10:43.360> is<00:10:43.510> connecting<00:10:44.080> legacy 00:10:44.400 --> 00:10:44.410 align:start position:0% chains so this is connecting legacy 00:10:44.410 --> 00:10:45.540 align:start position:0% chains so this is connecting legacy block<00:10:44.589> chains<00:10:44.830> we're<00:10:44.980> doing<00:10:45.190> some<00:10:45.370> research 00:10:45.540 --> 00:10:45.550 align:start position:0% block chains we're doing some research 00:10:45.550 --> 00:10:47.520 align:start position:0% block chains we're doing some research and<00:10:45.970> some<00:10:46.510> experimentation<00:10:47.200> of<00:10:47.260> how<00:10:47.410> do<00:10:47.470> we 00:10:47.520 --> 00:10:47.530 align:start position:0% and some experimentation of how do we 00:10:47.530 --> 00:10:50.250 align:start position:0% and some experimentation of how do we connect<00:10:47.890> Bitcoin<00:10:48.280> the<00:10:48.910> most<00:10:49.120> obvious<00:10:49.690> block 00:10:50.250 --> 00:10:50.260 align:start position:0% connect Bitcoin the most obvious block 00:10:50.260 --> 00:10:51.840 align:start position:0% connect Bitcoin the most obvious block chains<00:10:50.500> to<00:10:50.710> connect<00:10:51.040> are<00:10:51.310> the<00:10:51.400> ones<00:10:51.550> that<00:10:51.640> have 00:10:51.840 --> 00:10:51.850 align:start position:0% chains to connect are the ones that have 00:10:51.850 --> 00:10:53.550 align:start position:0% chains to connect are the ones that have like<00:10:52.030> a<00:10:52.240> second<00:10:52.660> layer<00:10:52.810> some<00:10:53.050> our<00:10:53.140> contract 00:10:53.550 --> 00:10:53.560 align:start position:0% like a second layer some our contract 00:10:53.560 --> 00:10:55.380 align:start position:0% like a second layer some our contract ability<00:10:54.190> to<00:10:54.310> be<00:10:54.400> able<00:10:54.550> to<00:10:54.610> create<00:10:54.760> that<00:10:54.970> logic 00:10:55.380 --> 00:10:55.390 align:start position:0% ability to be able to create that logic 00:10:55.390 --> 00:10:57.060 align:start position:0% ability to be able to create that logic and<00:10:55.570> a<00:10:55.839> second<00:10:56.200> layer<00:10:56.290> above<00:10:56.500> the<00:10:56.560> network<00:10:56.890> so 00:10:57.060 --> 00:10:57.070 align:start position:0% and a second layer above the network so 00:10:57.070 --> 00:10:58.340 align:start position:0% and a second layer above the network so Bitcoin<00:10:57.370> obviously<00:10:57.640> doesn't<00:10:57.880> have<00:10:57.910> that 00:10:58.340 --> 00:10:58.350 align:start position:0% Bitcoin obviously doesn't have that 00:10:58.350 --> 00:11:00.750 align:start position:0% Bitcoin obviously doesn't have that natively<00:10:59.350> design<00:10:59.650> in<00:10:59.770> the<00:10:59.830> protocol<00:11:00.160> but<00:11:00.670> we 00:11:00.750 --> 00:11:00.760 align:start position:0% natively design in the protocol but we 00:11:00.760 --> 00:11:01.860 align:start position:0% natively design in the protocol but we do<00:11:00.880> have<00:11:01.000> some<00:11:01.120> ideas<00:11:01.390> of<00:11:01.420> how<00:11:01.510> we<00:11:01.570> could<00:11:01.750> do 00:11:01.860 --> 00:11:01.870 align:start position:0% do have some ideas of how we could do 00:11:01.870 --> 00:11:04.740 align:start position:0% do have some ideas of how we could do that<00:11:02.020> and<00:11:02.680> then<00:11:02.800> secondly<00:11:03.580> is<00:11:03.850> this<00:11:04.240> idea<00:11:04.540> of<00:11:04.600> a 00:11:04.740 --> 00:11:04.750 align:start position:0% that and then secondly is this idea of a 00:11:04.750 --> 00:11:07.230 align:start position:0% that and then secondly is this idea of a on<00:11:04.870> compatible<00:11:05.380> block<00:11:05.530> chains<00:11:05.740> so<00:11:06.060> we<00:11:07.060> hear<00:11:07.209> a 00:11:07.230 --> 00:11:07.240 align:start position:0% on compatible block chains so we hear a 00:11:07.240 --> 00:11:09.180 align:start position:0% on compatible block chains so we hear a lot<00:11:07.420> about<00:11:07.450> new<00:11:07.750> token<00:11:07.930> projects<00:11:08.350> launching 00:11:09.180 --> 00:11:09.190 align:start position:0% lot about new token projects launching 00:11:09.190 --> 00:11:10.950 align:start position:0% lot about new token projects launching of<00:11:09.490> scaling<00:11:10.000> requirements<00:11:10.510> at<00:11:10.600> each<00:11:10.780> of<00:11:10.900> these 00:11:10.950 --> 00:11:10.960 align:start position:0% of scaling requirements at each of these 00:11:10.960 --> 00:11:13.020 align:start position:0% of scaling requirements at each of these individual<00:11:11.440> projects<00:11:11.920> so<00:11:12.190> if<00:11:12.550> any<00:11:12.790> one<00:11:13.000> of 00:11:13.020 --> 00:11:13.030 align:start position:0% individual projects so if any one of 00:11:13.030 --> 00:11:15.720 align:start position:0% individual projects so if any one of these<00:11:13.180> projects<00:11:13.780> has<00:11:13.960> enough<00:11:14.590> scale<00:11:14.920> that<00:11:15.520> on 00:11:15.720 --> 00:11:15.730 align:start position:0% these projects has enough scale that on 00:11:15.730 --> 00:11:18.180 align:start position:0% these projects has enough scale that on its<00:11:15.910> own<00:11:16.120> could<00:11:16.420> cause<00:11:16.660> you<00:11:17.230> know<00:11:17.350> it<00:11:17.860> could<00:11:18.100> be 00:11:18.180 --> 00:11:18.190 align:start position:0% its own could cause you know it could be 00:11:18.190 --> 00:11:20.580 align:start position:0% its own could cause you know it could be too<00:11:18.430> large<00:11:18.730> for<00:11:19.330> any<00:11:19.390> single<00:11:19.690> blockchain<00:11:20.290> to 00:11:20.580 --> 00:11:20.590 align:start position:0% too large for any single blockchain to 00:11:20.590 --> 00:11:22.290 align:start position:0% too large for any single blockchain to share<00:11:20.950> with<00:11:21.160> others<00:11:21.430> at<00:11:21.640> the<00:11:21.730> computational 00:11:22.290 --> 00:11:22.300 align:start position:0% share with others at the computational 00:11:22.300 --> 00:11:24.990 align:start position:0% share with others at the computational level<00:11:22.420> you<00:11:23.020> know<00:11:23.110> we're<00:11:23.260> starting<00:11:23.440> to<00:11:24.000> design 00:11:24.990 --> 00:11:25.000 align:start position:0% level you know we're starting to design 00:11:25.000 --> 00:11:26.370 align:start position:0% level you know we're starting to design this<00:11:25.420> concept<00:11:25.870> of<00:11:25.960> building<00:11:26.140> your<00:11:26.290> own 00:11:26.370 --> 00:11:26.380 align:start position:0% this concept of building your own 00:11:26.380 --> 00:11:28.110 align:start position:0% this concept of building your own blockchain<00:11:26.770> for<00:11:26.920> your<00:11:27.010> own<00:11:27.070> application<00:11:27.190> so 00:11:28.110 --> 00:11:28.120 align:start position:0% blockchain for your own application so 00:11:28.120 --> 00:11:29.400 align:start position:0% blockchain for your own application so if<00:11:28.210> you<00:11:28.300> can<00:11:28.450> build<00:11:28.600> your<00:11:28.750> own<00:11:28.810> blockchain<00:11:29.230> for 00:11:29.400 --> 00:11:29.410 align:start position:0% if you can build your own blockchain for 00:11:29.410 --> 00:11:30.510 align:start position:0% if you can build your own blockchain for your<00:11:29.500> own<00:11:29.560> application<00:11:30.130> and<00:11:30.190> you<00:11:30.310> can<00:11:30.430> have 00:11:30.510 --> 00:11:30.520 align:start position:0% your own application and you can have 00:11:30.520 --> 00:11:31.980 align:start position:0% your own application and you can have that<00:11:30.610> blockchain<00:11:30.970> tied<00:11:31.210> into<00:11:31.390> an<00:11:31.660> ecosystem 00:11:31.980 --> 00:11:31.990 align:start position:0% that blockchain tied into an ecosystem 00:11:31.990 --> 00:11:33.990 align:start position:0% that blockchain tied into an ecosystem of<00:11:32.230> other<00:11:32.380> block<00:11:32.590> chains<00:11:32.830> you<00:11:33.220> start<00:11:33.490> to<00:11:33.640> just 00:11:33.990 --> 00:11:34.000 align:start position:0% of other block chains you start to just 00:11:34.000 --> 00:11:35.340 align:start position:0% of other block chains you start to just take<00:11:34.180> on<00:11:34.330> your<00:11:34.480> own<00:11:34.570> scaling<00:11:34.900> requirements 00:11:35.340 --> 00:11:35.350 align:start position:0% take on your own scaling requirements 00:11:35.350 --> 00:11:36.870 align:start position:0% take on your own scaling requirements rather<00:11:35.440> than<00:11:35.680> sharing<00:11:36.100> scaling<00:11:36.430> requirements 00:11:36.870 --> 00:11:36.880 align:start position:0% rather than sharing scaling requirements 00:11:36.880 --> 00:11:38.460 align:start position:0% rather than sharing scaling requirements are<00:11:36.940> there<00:11:37.030> with<00:11:37.270> other<00:11:37.390> applications<00:11:37.870> on<00:11:38.380> the 00:11:38.460 --> 00:11:38.470 align:start position:0% are there with other applications on the 00:11:38.470 --> 00:11:40.380 align:start position:0% are there with other applications on the same<00:11:38.650> network<00:11:38.770> so<00:11:39.460> we'd<00:11:39.610> see<00:11:39.910> this<00:11:40.120> kind<00:11:40.360> of 00:11:40.380 --> 00:11:40.390 align:start position:0% same network so we'd see this kind of 00:11:40.390 --> 00:11:42.210 align:start position:0% same network so we'd see this kind of fragmentation<00:11:41.170> of<00:11:41.260> industry<00:11:41.680> of<00:11:41.920> black 00:11:42.210 --> 00:11:42.220 align:start position:0% fragmentation of industry of black 00:11:42.220 --> 00:11:44.160 align:start position:0% fragmentation of industry of black chains<00:11:42.430> connecting<00:11:43.360> as<00:11:43.600> more<00:11:43.960> and<00:11:44.080> more 00:11:44.160 --> 00:11:44.170 align:start position:0% chains connecting as more and more 00:11:44.170 --> 00:11:45.450 align:start position:0% chains connecting as more and more people<00:11:44.350> launch<00:11:44.680> their<00:11:44.920> own<00:11:45.010> block<00:11:45.220> chains 00:11:45.450 --> 00:11:45.460 align:start position:0% people launch their own block chains 00:11:45.460 --> 00:11:47.010 align:start position:0% people launch their own block chains with<00:11:45.610> kind<00:11:45.820> of<00:11:45.850> pre-built<00:11:46.210> functionality 00:11:47.010 --> 00:11:47.020 align:start position:0% with kind of pre-built functionality 00:11:47.020 --> 00:11:48.930 align:start position:0% with kind of pre-built functionality with<00:11:47.500> pre-built<00:11:47.770> modular<00:11:48.370> components 00:11:48.930 --> 00:11:48.940 align:start position:0% with pre-built modular components 00:11:48.940 --> 00:11:51.210 align:start position:0% with pre-built modular components whether<00:11:49.570> they're<00:11:49.780> coming<00:11:50.080> from<00:11:50.230> hyper<00:11:50.890> ledger 00:11:51.210 --> 00:11:51.220 align:start position:0% whether they're coming from hyper ledger 00:11:51.220 --> 00:11:52.710 align:start position:0% whether they're coming from hyper ledger and<00:11:51.430> the<00:11:51.490> fabric<00:11:52.030> protocol<00:11:52.420> whether<00:11:52.600> they're 00:11:52.710 --> 00:11:52.720 align:start position:0% and the fabric protocol whether they're 00:11:52.720 --> 00:11:54.480 align:start position:0% and the fabric protocol whether they're coming<00:11:52.930> from<00:11:53.110> modular<00:11:53.890> versions<00:11:54.280> of<00:11:54.400> the 00:11:54.480 --> 00:11:54.490 align:start position:0% coming from modular versions of the 00:11:54.490 --> 00:11:56.340 align:start position:0% coming from modular versions of the etherium<00:11:54.910> protocol<00:11:55.300> or<00:11:55.660> building<00:11:56.170> something 00:11:56.340 --> 00:11:56.350 align:start position:0% etherium protocol or building something 00:11:56.350 --> 00:11:58.230 align:start position:0% etherium protocol or building something from<00:11:56.530> scratch<00:11:56.620> so<00:11:57.130> the<00:11:57.250> idea<00:11:57.550> is<00:11:57.670> that<00:11:57.700> as<00:11:57.970> as 00:11:58.230 --> 00:11:58.240 align:start position:0% from scratch so the idea is that as as 00:11:58.240 --> 00:11:59.400 align:start position:0% from scratch so the idea is that as as other<00:11:58.570> people<00:11:58.840> build<00:11:58.990> their<00:11:59.140> own<00:11:59.170> block 00:11:59.400 --> 00:11:59.410 align:start position:0% other people build their own block 00:11:59.410 --> 00:12:00.900 align:start position:0% other people build their own block chains<00:11:59.620> they<00:11:59.770> all<00:11:59.890> become<00:12:00.130> what<00:12:00.550> we<00:12:00.580> call<00:12:00.670> a 00:12:00.900 --> 00:12:00.910 align:start position:0% chains they all become what we call a 00:12:00.910 --> 00:12:02.280 align:start position:0% chains they all become what we call a incompatible<00:12:01.510> and<00:12:01.570> they<00:12:01.690> can<00:12:01.840> synchronize 00:12:02.280 --> 00:12:02.290 align:start position:0% incompatible and they can synchronize 00:12:02.290 --> 00:12:04.410 align:start position:0% incompatible and they can synchronize into<00:12:02.710> this<00:12:02.980> this<00:12:03.400> communication<00:12:04.030> protocol 00:12:04.410 --> 00:12:04.420 align:start position:0% into this this communication protocol 00:12:04.420 --> 00:12:05.490 align:start position:0% into this this communication protocol that<00:12:04.540> allows<00:12:04.720> all<00:12:04.840> these<00:12:04.900> block<00:12:05.140> chains<00:12:05.350> to 00:12:05.490 --> 00:12:05.500 align:start position:0% that allows all these block chains to 00:12:05.500 --> 00:12:09.000 align:start position:0% that allows all these block chains to sync<00:12:05.740> to<00:12:05.830> each<00:12:05.950> other<00:12:07.410> so<00:12:08.410> let<00:12:08.680> me<00:12:08.770> talk<00:12:08.950> about 00:12:09.000 --> 00:12:09.010 align:start position:0% sync to each other so let me talk about 00:12:09.010 --> 00:12:12.600 align:start position:0% sync to each other so let me talk about the<00:12:09.640> bridge<00:12:09.850> for<00:12:10.270> a<00:12:10.600> few<00:12:11.170> minutes 00:12:12.600 --> 00:12:12.610 align:start position:0% the bridge for a few minutes 00:12:12.610 --> 00:12:14.940 align:start position:0% the bridge for a few minutes a<00:12:12.700> few<00:12:13.420> things<00:12:13.630> to<00:12:14.110> understand<00:12:14.770> about<00:12:14.860> how 00:12:14.940 --> 00:12:14.950 align:start position:0% a few things to understand about how 00:12:14.950 --> 00:12:16.800 align:start position:0% a few things to understand about how this<00:12:15.130> works<00:12:15.370> there's<00:12:15.640> a<00:12:15.700> there's<00:12:16.270> an<00:12:16.390> economic 00:12:16.800 --> 00:12:16.810 align:start position:0% this works there's a there's an economic 00:12:16.810 --> 00:12:18.630 align:start position:0% this works there's a there's an economic model<00:12:16.990> that<00:12:17.260> we're<00:12:17.350> building<00:12:17.490> essentially<00:12:18.490> to 00:12:18.630 --> 00:12:18.640 align:start position:0% model that we're building essentially to 00:12:18.640 --> 00:12:20.010 align:start position:0% model that we're building essentially to incentivize<00:12:19.330> people<00:12:19.480> to<00:12:19.600> connect<00:12:19.870> block 00:12:20.010 --> 00:12:20.020 align:start position:0% incentivize people to connect block 00:12:20.020 --> 00:12:21.960 align:start position:0% incentivize people to connect block chains<00:12:20.260> to<00:12:20.440> one<00:12:20.560> another<00:12:20.770> so<00:12:21.040> at<00:12:21.310> the<00:12:21.670> core<00:12:21.940> of 00:12:21.960 --> 00:12:21.970 align:start position:0% chains to one another so at the core of 00:12:21.970 --> 00:12:24.030 align:start position:0% chains to one another so at the core of all<00:12:22.180> of<00:12:22.330> this<00:12:22.480> inside<00:12:23.110> the<00:12:23.320> a<00:12:23.350> on<00:12:23.590> one<00:12:23.800> block 00:12:24.030 --> 00:12:24.040 align:start position:0% all of this inside the a on one block 00:12:24.040 --> 00:12:26.010 align:start position:0% all of this inside the a on one block chain<00:12:24.310> is<00:12:24.340> a<00:12:24.550> system<00:12:25.000> of<00:12:25.090> registries<00:12:25.690> that<00:12:25.930> we 00:12:26.010 --> 00:12:26.020 align:start position:0% chain is a system of registries that we 00:12:26.020 --> 00:12:28.920 align:start position:0% chain is a system of registries that we use<00:12:26.260> to<00:12:26.860> create<00:12:27.280> bridges<00:12:27.670> track<00:12:28.210> bridges<00:12:28.720> and 00:12:28.920 --> 00:12:28.930 align:start position:0% use to create bridges track bridges and 00:12:28.930 --> 00:12:30.330 align:start position:0% use to create bridges track bridges and incentivize<00:12:29.500> participants<00:12:30.130> on<00:12:30.220> these 00:12:30.330 --> 00:12:30.340 align:start position:0% incentivize participants on these 00:12:30.340 --> 00:12:32.490 align:start position:0% incentivize participants on these bridges<00:12:30.730> so<00:12:31.330> these<00:12:31.450> registry<00:12:31.990> contracts<00:12:32.380> are 00:12:32.490 --> 00:12:32.500 align:start position:0% bridges so these registry contracts are 00:12:32.500 --> 00:12:34.410 align:start position:0% bridges so these registry contracts are essentially<00:12:32.860> smart<00:12:33.130> contracts<00:12:33.580> on<00:12:33.700> the 00:12:34.410 --> 00:12:34.420 align:start position:0% essentially smart contracts on the 00:12:34.420 --> 00:12:36.480 align:start position:0% essentially smart contracts on the connecting<00:12:35.080> blockchain<00:12:35.560> that<00:12:35.980> act<00:12:36.190> as<00:12:36.370> the 00:12:36.480 --> 00:12:36.490 align:start position:0% connecting blockchain that act as the 00:12:36.490 --> 00:12:37.920 align:start position:0% connecting blockchain that act as the identifier<00:12:37.000> of<00:12:37.240> all<00:12:37.330> these<00:12:37.420> bridges<00:12:37.780> that<00:12:37.870> are 00:12:37.920 --> 00:12:37.930 align:start position:0% identifier of all these bridges that are 00:12:37.930 --> 00:12:40.200 align:start position:0% identifier of all these bridges that are being<00:12:38.140> built<00:12:38.400> inside<00:12:39.400> these<00:12:39.580> contracts 00:12:40.200 --> 00:12:40.210 align:start position:0% being built inside these contracts 00:12:40.210 --> 00:12:41.430 align:start position:0% being built inside these contracts there's<00:12:40.390> essentially<00:12:40.720> two<00:12:41.080> major 00:12:41.430 --> 00:12:41.440 align:start position:0% there's essentially two major 00:12:41.440 --> 00:12:43.710 align:start position:0% there's essentially two major functionalities<00:12:42.220> one<00:12:42.610> is<00:12:42.880> the<00:12:43.300> fact<00:12:43.510> that<00:12:43.600> the 00:12:43.710 --> 00:12:43.720 align:start position:0% functionalities one is the fact that the 00:12:43.720 --> 00:12:45.450 align:start position:0% functionalities one is the fact that the bridge<00:12:43.900> needs<00:12:44.140> to<00:12:44.260> be<00:12:44.350> created<00:12:44.890> by<00:12:45.010> a<00:12:45.040> staking 00:12:45.450 --> 00:12:45.460 align:start position:0% bridge needs to be created by a staking 00:12:45.460 --> 00:12:46.200 align:start position:0% bridge needs to be created by a staking of<00:12:45.670> tokens 00:12:46.200 --> 00:12:46.210 align:start position:0% of tokens 00:12:46.210 --> 00:12:48.060 align:start position:0% of tokens after<00:12:46.870> that<00:12:46.990> staking<00:12:47.350> of<00:12:47.440> tokens<00:12:47.800> has<00:12:47.920> been 00:12:48.060 --> 00:12:48.070 align:start position:0% after that staking of tokens has been 00:12:48.070 --> 00:12:50.100 align:start position:0% after that staking of tokens has been put<00:12:48.220> into<00:12:48.370> the<00:12:48.490> contract<00:12:48.790> other<00:12:49.300> nodes<00:12:49.810> can 00:12:50.100 --> 00:12:50.110 align:start position:0% put into the contract other nodes can 00:12:50.110 --> 00:12:52.260 align:start position:0% put into the contract other nodes can also<00:12:50.260> participate<00:12:50.590> in<00:12:51.070> that<00:12:51.160> or<00:12:51.340> other<00:12:51.550> token 00:12:52.260 --> 00:12:52.270 align:start position:0% also participate in that or other token 00:12:52.270 --> 00:12:53.550 align:start position:0% also participate in that or other token holders<00:12:52.510> can<00:12:52.690> participate<00:12:53.170> in<00:12:53.260> that<00:12:53.380> bridge 00:12:53.550 --> 00:12:53.560 align:start position:0% holders can participate in that bridge 00:12:53.560 --> 00:12:55.740 align:start position:0% holders can participate in that bridge by<00:12:53.770> staking<00:12:54.040> into<00:12:54.280> the<00:12:54.370> same<00:12:54.520> contract<00:12:54.880> a<00:12:55.180> set 00:12:55.740 --> 00:12:55.750 align:start position:0% by staking into the same contract a set 00:12:55.750 --> 00:12:57.240 align:start position:0% by staking into the same contract a set of<00:12:55.870> rules<00:12:56.140> around<00:12:56.380> the<00:12:56.560> economics<00:12:57.040> of<00:12:57.130> that 00:12:57.240 --> 00:12:57.250 align:start position:0% of rules around the economics of that 00:12:57.250 --> 00:12:58.380 align:start position:0% of rules around the economics of that bridge<00:12:57.460> would<00:12:57.580> be<00:12:57.640> published<00:12:58.060> as<00:12:58.180> part<00:12:58.300> of 00:12:58.380 --> 00:12:58.390 align:start position:0% bridge would be published as part of 00:12:58.390 --> 00:12:59.820 align:start position:0% bridge would be published as part of that<00:12:58.450> contract<00:12:58.690> so<00:12:58.990> it's<00:12:59.110> up<00:12:59.260> to<00:12:59.380> the<00:12:59.500> Creator 00:12:59.820 --> 00:12:59.830 align:start position:0% that contract so it's up to the Creator 00:12:59.830 --> 00:13:01.530 align:start position:0% that contract so it's up to the Creator the<00:12:59.860> bridge<00:13:00.160> to<00:13:00.370> say<00:13:00.520> my<00:13:01.089> bridge<00:13:01.330> is<00:13:01.450> gonna 00:13:01.530 --> 00:13:01.540 align:start position:0% the bridge to say my bridge is gonna 00:13:01.540 --> 00:13:03.180 align:start position:0% the bridge to say my bridge is gonna have<00:13:01.780> this<00:13:01.960> fee<00:13:02.230> structure<00:13:02.770> and<00:13:02.950> it's<00:13:03.070> gonna 00:13:03.180 --> 00:13:03.190 align:start position:0% have this fee structure and it's gonna 00:13:03.190 --> 00:13:04.650 align:start position:0% have this fee structure and it's gonna be<00:13:03.339> this<00:13:03.460> decentralized<00:13:04.150> and<00:13:04.360> it's<00:13:04.480> you<00:13:04.630> know 00:13:04.650 --> 00:13:04.660 align:start position:0% be this decentralized and it's you know 00:13:04.660 --> 00:13:07.070 align:start position:0% be this decentralized and it's you know that<00:13:05.170> whole<00:13:05.350> mechanism<00:13:05.589> is<00:13:06.010> free<00:13:06.550> market 00:13:07.070 --> 00:13:07.080 align:start position:0% that whole mechanism is free market 00:13:07.080 --> 00:13:09.810 align:start position:0% that whole mechanism is free market opportunity<00:13:08.080> for<00:13:08.290> there<00:13:08.980> the<00:13:09.280> the<00:13:09.580> bridge 00:13:09.810 --> 00:13:09.820 align:start position:0% opportunity for there the the bridge 00:13:09.820 --> 00:13:11.970 align:start position:0% opportunity for there the the bridge creator<00:13:10.300> to<00:13:10.480> decide<00:13:10.780> so<00:13:11.020> we<00:13:11.140> we<00:13:11.470> envision<00:13:11.950> that 00:13:11.970 --> 00:13:11.980 align:start position:0% creator to decide so we we envision that 00:13:11.980 --> 00:13:13.800 align:start position:0% creator to decide so we we envision that at<00:13:12.250> some<00:13:12.400> point<00:13:12.430> there's<00:13:12.790> going<00:13:12.850> to<00:13:13.060> be<00:13:13.150> a 00:13:13.800 --> 00:13:13.810 align:start position:0% at some point there's going to be a 00:13:13.810 --> 00:13:15.510 align:start position:0% at some point there's going to be a competitive<00:13:14.530> landscape<00:13:14.710> of<00:13:15.100> bridges 00:13:15.510 --> 00:13:15.520 align:start position:0% competitive landscape of bridges 00:13:15.520 --> 00:13:16.680 align:start position:0% competitive landscape of bridges connecting<00:13:15.940> block<00:13:16.180> chains<00:13:16.450> and<00:13:16.570> there's 00:13:16.680 --> 00:13:16.690 align:start position:0% connecting block chains and there's 00:13:16.690 --> 00:13:17.940 align:start position:0% connecting block chains and there's gonna<00:13:16.780> be<00:13:16.870> faster<00:13:17.320> bridges<00:13:17.620> and<00:13:17.770> slower 00:13:17.940 --> 00:13:17.950 align:start position:0% gonna be faster bridges and slower 00:13:17.950 --> 00:13:19.740 align:start position:0% gonna be faster bridges and slower bridges<00:13:18.370> and<00:13:18.580> you<00:13:18.760> know<00:13:18.880> expensive<00:13:19.300> bridges 00:13:19.740 --> 00:13:19.750 align:start position:0% bridges and you know expensive bridges 00:13:19.750 --> 00:13:21.890 align:start position:0% bridges and you know expensive bridges and<00:13:19.870> cheap<00:13:20.020> bridges<00:13:20.380> that<00:13:20.920> connect 00:13:21.890 --> 00:13:21.900 align:start position:0% and cheap bridges that connect 00:13:21.900 --> 00:13:23.960 align:start position:0% and cheap bridges that connect watch<00:13:22.050> ants<00:13:22.320> one<00:13:22.590> to<00:13:22.740> the<00:13:22.860> other<00:13:23.190> inside<00:13:23.790> this 00:13:23.960 --> 00:13:23.970 align:start position:0% watch ants one to the other inside this 00:13:23.970 --> 00:13:25.610 align:start position:0% watch ants one to the other inside this registry<00:13:24.390> contract<00:13:24.810> all<00:13:24.990> of<00:13:25.110> the<00:13:25.170> nodes<00:13:25.410> that 00:13:25.610 --> 00:13:25.620 align:start position:0% registry contract all of the nodes that 00:13:25.620 --> 00:13:27.200 align:start position:0% registry contract all of the nodes that participate<00:13:26.160> in<00:13:26.190> stake<00:13:26.520> they're<00:13:26.700> tokens<00:13:27.060> will 00:13:27.200 --> 00:13:27.210 align:start position:0% participate in stake they're tokens will 00:13:27.210 --> 00:13:28.610 align:start position:0% participate in stake they're tokens will essentially<00:13:27.480> become<00:13:27.720> bridge<00:13:28.020> validators 00:13:28.610 --> 00:13:28.620 align:start position:0% essentially become bridge validators 00:13:28.620 --> 00:13:30.580 align:start position:0% essentially become bridge validators these<00:13:29.190> bridge<00:13:29.430> validators<00:13:29.910> have<00:13:30.090> the<00:13:30.210> role<00:13:30.420> of 00:13:30.580 --> 00:13:30.590 align:start position:0% these bridge validators have the role of 00:13:30.590 --> 00:13:33.110 align:start position:0% these bridge validators have the role of witnessing<00:13:31.590> and<00:13:31.800> validating<00:13:32.490> transactions 00:13:33.110 --> 00:13:33.120 align:start position:0% witnessing and validating transactions 00:13:33.120 --> 00:13:35.270 align:start position:0% witnessing and validating transactions that<00:13:33.540> we<00:13:33.690> call<00:13:33.900> interchange<00:13:34.350> transactions<00:13:34.860> so 00:13:35.270 --> 00:13:35.280 align:start position:0% that we call interchange transactions so 00:13:35.280 --> 00:13:37.280 align:start position:0% that we call interchange transactions so they<00:13:35.430> sit<00:13:35.760> commonly<00:13:36.480> on<00:13:36.600> both<00:13:36.780> block<00:13:37.050> chains 00:13:37.280 --> 00:13:37.290 align:start position:0% they sit commonly on both block chains 00:13:37.290 --> 00:13:38.810 align:start position:0% they sit commonly on both block chains that<00:13:37.470> they're<00:13:37.590> bridging<00:13:37.950> they<00:13:38.400> can<00:13:38.550> witness 00:13:38.810 --> 00:13:38.820 align:start position:0% that they're bridging they can witness 00:13:38.820 --> 00:13:40.850 align:start position:0% that they're bridging they can witness transactions<00:13:39.390> on<00:13:39.510> one<00:13:39.860> lightweight 00:13:40.850 --> 00:13:40.860 align:start position:0% transactions on one lightweight 00:13:40.860 --> 00:13:42.770 align:start position:0% transactions on one lightweight consensus<00:13:41.490> we're<00:13:41.640> testing<00:13:41.940> honeybadger<00:13:42.270> BFT 00:13:42.770 --> 00:13:42.780 align:start position:0% consensus we're testing honeybadger BFT 00:13:42.780 --> 00:13:44.030 align:start position:0% consensus we're testing honeybadger BFT on<00:13:42.900> the<00:13:42.990> bridge<00:13:43.170> it'll<00:13:43.440> be<00:13:43.500> a<00:13:43.530> single<00:13:43.920> round 00:13:44.030 --> 00:13:44.040 align:start position:0% on the bridge it'll be a single round 00:13:44.040 --> 00:13:46.160 align:start position:0% on the bridge it'll be a single round voting<00:13:44.430> mechanism<00:13:44.550> on<00:13:45.090> the<00:13:45.240> bridge<00:13:45.450> to<00:13:45.990> say 00:13:46.160 --> 00:13:46.170 align:start position:0% voting mechanism on the bridge to say 00:13:46.170 --> 00:13:48.170 align:start position:0% voting mechanism on the bridge to say hey<00:13:46.350> did<00:13:46.500> we<00:13:46.620> all<00:13:46.830> witness<00:13:47.340> the<00:13:47.520> same<00:13:47.700> thing<00:13:48.000> if 00:13:48.170 --> 00:13:48.180 align:start position:0% hey did we all witness the same thing if 00:13:48.180 --> 00:13:50.210 align:start position:0% hey did we all witness the same thing if yes<00:13:48.720> then<00:13:48.990> we<00:13:49.140> transmit<00:13:49.530> that<00:13:49.620> message<00:13:49.680> to<00:13:50.130> the 00:13:50.210 --> 00:13:50.220 align:start position:0% yes then we transmit that message to the 00:13:50.220 --> 00:13:51.710 align:start position:0% yes then we transmit that message to the to<00:13:50.460> the<00:13:50.550> connecting<00:13:50.910> network<00:13:51.150> and<00:13:51.300> the 00:13:51.710 --> 00:13:51.720 align:start position:0% to the connecting network and the 00:13:51.720 --> 00:13:52.880 align:start position:0% to the connecting network and the connecting<00:13:52.080> network<00:13:52.320> and<00:13:52.440> then<00:13:52.530> reroute<00:13:52.710> that 00:13:52.880 --> 00:13:52.890 align:start position:0% connecting network and then reroute that 00:13:52.890 --> 00:13:55.330 align:start position:0% connecting network and then reroute that to<00:13:53.100> the<00:13:53.190> blockchain<00:13:53.400> and<00:13:53.580> it's<00:13:53.760> intended<00:13:54.030> for 00:13:55.330 --> 00:13:55.340 align:start position:0% to the blockchain and it's intended for 00:13:55.340 --> 00:13:58.160 align:start position:0% to the blockchain and it's intended for the<00:13:56.340> the<00:13:57.240> other<00:13:57.420> part<00:13:57.810> of<00:13:57.900> the<00:13:57.990> bridge 00:13:58.160 --> 00:13:58.170 align:start position:0% the the other part of the bridge 00:13:58.170 --> 00:13:59.660 align:start position:0% the the other part of the bridge registry<00:13:58.620> that's<00:13:58.770> kind<00:13:59.010> of<00:13:59.040> critical<00:13:59.430> is<00:13:59.550> the 00:13:59.660 --> 00:13:59.670 align:start position:0% registry that's kind of critical is the 00:13:59.670 --> 00:14:00.980 align:start position:0% registry that's kind of critical is the fact<00:13:59.850> that<00:13:59.940> we<00:14:00.060> use<00:14:00.240> the<00:14:00.270> bridge<00:14:00.540> registry<00:14:00.900> to 00:14:00.980 --> 00:14:00.990 align:start position:0% fact that we use the bridge registry to 00:14:00.990 --> 00:14:02.870 align:start position:0% fact that we use the bridge registry to keep<00:14:01.170> track<00:14:01.470> of<00:14:01.650> the<00:14:02.070> route<00:14:02.250> hash<00:14:02.460> and<00:14:02.760> the 00:14:02.870 --> 00:14:02.880 align:start position:0% keep track of the route hash and the 00:14:02.880 --> 00:14:04.310 align:start position:0% keep track of the route hash and the state<00:14:03.150> of<00:14:03.300> the<00:14:03.390> blockchain<00:14:03.600> it's<00:14:03.900> connecting 00:14:04.310 --> 00:14:04.320 align:start position:0% state of the blockchain it's connecting 00:14:04.320 --> 00:14:06.380 align:start position:0% state of the blockchain it's connecting so<00:14:04.410> at<00:14:04.530> any<00:14:04.620> point<00:14:04.710> in<00:14:04.980> time<00:14:05.390> independently 00:14:06.380 --> 00:14:06.390 align:start position:0% so at any point in time independently 00:14:06.390 --> 00:14:08.240 align:start position:0% so at any point in time independently somebody<00:14:07.080> receiving<00:14:07.470> a<00:14:07.530> transaction<00:14:08.070> could 00:14:08.240 --> 00:14:08.250 align:start position:0% somebody receiving a transaction could 00:14:08.250 --> 00:14:09.860 align:start position:0% somebody receiving a transaction could go<00:14:08.340> back<00:14:08.610> to<00:14:08.820> the<00:14:08.910> registry<00:14:09.270> contract<00:14:09.690> and 00:14:09.860 --> 00:14:09.870 align:start position:0% go back to the registry contract and 00:14:09.870 --> 00:14:11.960 align:start position:0% go back to the registry contract and prove<00:14:10.290> through<00:14:11.100> that<00:14:11.250> route<00:14:11.430> hash<00:14:11.610> that<00:14:11.880> the 00:14:11.960 --> 00:14:11.970 align:start position:0% prove through that route hash that the 00:14:11.970 --> 00:14:13.160 align:start position:0% prove through that route hash that the transaction<00:14:12.540> they're<00:14:12.660> looking<00:14:12.990> at<00:14:13.080> is 00:14:13.160 --> 00:14:13.170 align:start position:0% transaction they're looking at is 00:14:13.170 --> 00:14:14.960 align:start position:0% transaction they're looking at is actually<00:14:13.260> included<00:14:13.710> in<00:14:14.040> the<00:14:14.130> state<00:14:14.700> of<00:14:14.850> that 00:14:14.960 --> 00:14:14.970 align:start position:0% actually included in the state of that 00:14:14.970 --> 00:14:17.150 align:start position:0% actually included in the state of that blockchain<00:14:15.390> so<00:14:15.900> the<00:14:16.020> the<00:14:16.230> the<00:14:16.260> registry<00:14:17.010> will 00:14:17.150 --> 00:14:17.160 align:start position:0% blockchain so the the the registry will 00:14:17.160 --> 00:14:18.530 align:start position:0% blockchain so the the the registry will keep<00:14:17.340> track<00:14:17.580> of<00:14:17.730> all<00:14:17.820> these<00:14:17.910> route<00:14:18.150> hashes<00:14:18.450> of 00:14:18.530 --> 00:14:18.540 align:start position:0% keep track of all these route hashes of 00:14:18.540 --> 00:14:20.050 align:start position:0% keep track of all these route hashes of all<00:14:18.630> the<00:14:18.720> block<00:14:18.870> chains<00:14:19.080> that<00:14:19.200> connects<00:14:19.500> to 00:14:20.050 --> 00:14:20.060 align:start position:0% all the block chains that connects to 00:14:20.060 --> 00:14:22.220 align:start position:0% all the block chains that connects to the<00:14:21.060> interchange<00:14:21.300> transaction<00:14:22.080> is<00:14:22.200> the 00:14:22.220 --> 00:14:22.230 align:start position:0% the interchange transaction is the 00:14:22.230 --> 00:14:23.510 align:start position:0% the interchange transaction is the format<00:14:22.740> of<00:14:22.770> transaction<00:14:23.310> that<00:14:23.370> we're 00:14:23.510 --> 00:14:23.520 align:start position:0% format of transaction that we're 00:14:23.520 --> 00:14:25.700 align:start position:0% format of transaction that we're designing<00:14:23.850> essentially<00:14:24.810> to<00:14:25.020> have<00:14:25.140> a<00:14:25.200> common 00:14:25.700 --> 00:14:25.710 align:start position:0% designing essentially to have a common 00:14:25.710 --> 00:14:27.500 align:start position:0% designing essentially to have a common language<00:14:25.860> across<00:14:26.280> block<00:14:26.640> chains<00:14:26.880> of<00:14:27.000> what<00:14:27.300> a 00:14:27.500 --> 00:14:27.510 align:start position:0% language across block chains of what a 00:14:27.510 --> 00:14:29.240 align:start position:0% language across block chains of what a transaction<00:14:28.050> format<00:14:28.320> should<00:14:28.410> look<00:14:28.560> like<00:14:28.590> so 00:14:29.240 --> 00:14:29.250 align:start position:0% transaction format should look like so 00:14:29.250 --> 00:14:30.620 align:start position:0% transaction format should look like so very<00:14:29.520> very<00:14:29.700> simply<00:14:30.120> if<00:14:30.240> you<00:14:30.300> think<00:14:30.450> about<00:14:30.510> a 00:14:30.620 --> 00:14:30.630 align:start position:0% very very simply if you think about a 00:14:30.630 --> 00:14:32.180 align:start position:0% very very simply if you think about a single<00:14:31.020> blockchain<00:14:31.440> today<00:14:31.680> all<00:14:31.920> you<00:14:31.950> really 00:14:32.180 --> 00:14:32.190 align:start position:0% single blockchain today all you really 00:14:32.190 --> 00:14:33.380 align:start position:0% single blockchain today all you really need<00:14:32.400> to<00:14:32.430> identify<00:14:32.610> is<00:14:32.910> who<00:14:33.090> is<00:14:33.150> it<00:14:33.270> coming 00:14:33.380 --> 00:14:33.390 align:start position:0% need to identify is who is it coming 00:14:33.390 --> 00:14:35.330 align:start position:0% need to identify is who is it coming from<00:14:33.480> and<00:14:33.750> who's<00:14:33.840> it<00:14:33.960> going<00:14:34.050> to<00:14:34.170> now<00:14:35.040> we<00:14:35.100> add<00:14:35.310> a 00:14:35.330 --> 00:14:35.340 align:start position:0% from and who's it going to now we add a 00:14:35.340 --> 00:14:37.190 align:start position:0% from and who's it going to now we add a second<00:14:35.760> layer<00:14:35.910> of<00:14:35.940> who's<00:14:36.450> it<00:14:36.600> coming<00:14:36.810> from<00:14:36.960> on 00:14:37.190 --> 00:14:37.200 align:start position:0% second layer of who's it coming from on 00:14:37.200 --> 00:14:38.420 align:start position:0% second layer of who's it coming from on what<00:14:37.410> network<00:14:37.710> is<00:14:37.830> it<00:14:37.950> coming<00:14:38.100> from 00:14:38.420 --> 00:14:38.430 align:start position:0% what network is it coming from 00:14:38.430 --> 00:14:39.890 align:start position:0% what network is it coming from and<00:14:38.640> who's<00:14:39.120> it<00:14:39.240> going<00:14:39.360> to<00:14:39.540> and<00:14:39.690> on<00:14:39.750> what 00:14:39.890 --> 00:14:39.900 align:start position:0% and who's it going to and on what 00:14:39.900 --> 00:14:41.330 align:start position:0% and who's it going to and on what network<00:14:40.170> is<00:14:40.290> it<00:14:40.410> going<00:14:40.620> to<00:14:40.770> so<00:14:40.950> we<00:14:41.040> have<00:14:41.070> to 00:14:41.330 --> 00:14:41.340 align:start position:0% network is it going to so we have to 00:14:41.340 --> 00:14:43.190 align:start position:0% network is it going to so we have to create<00:14:41.520> this<00:14:41.820> idea<00:14:42.120> of<00:14:42.300> identifying<00:14:42.720> block 00:14:43.190 --> 00:14:43.200 align:start position:0% create this idea of identifying block 00:14:43.200 --> 00:14:44.960 align:start position:0% create this idea of identifying block chains<00:14:43.500> so<00:14:43.980> we<00:14:44.100> can<00:14:44.250> effectively<00:14:44.550> route<00:14:44.820> these 00:14:44.960 --> 00:14:44.970 align:start position:0% chains so we can effectively route these 00:14:44.970 --> 00:14:49.700 align:start position:0% chains so we can effectively route these transactions<00:14:45.560> and<00:14:46.560> the<00:14:47.040> the<00:14:47.730> idea<00:14:48.420> of<00:14:48.510> a<00:14:48.710> ictv 00:14:49.700 --> 00:14:49.710 align:start position:0% transactions and the the idea of a ictv 00:14:49.710 --> 00:14:51.230 align:start position:0% transactions and the the idea of a ictv which<00:14:49.980> is<00:14:50.100> the<00:14:50.220> interchange<00:14:50.580> transaction<00:14:51.060> fee 00:14:51.230 --> 00:14:51.240 align:start position:0% which is the interchange transaction fee 00:14:51.240 --> 00:14:53.420 align:start position:0% which is the interchange transaction fee is<00:14:51.450> essentially<00:14:52.230> a<00:14:52.260> layer<00:14:52.560> above<00:14:52.980> the 00:14:53.420 --> 00:14:53.430 align:start position:0% is essentially a layer above the 00:14:53.430 --> 00:14:54.860 align:start position:0% is essentially a layer above the transaction<00:14:53.910> for<00:14:54.030> you<00:14:54.120> to<00:14:54.240> already<00:14:54.360> pay 00:14:54.860 --> 00:14:54.870 align:start position:0% transaction for you to already pay 00:14:54.870 --> 00:14:56.060 align:start position:0% transaction for you to already pay inside<00:14:55.320> the<00:14:55.470> blockchain<00:14:55.710> that<00:14:55.980> you're 00:14:56.060 --> 00:14:56.070 align:start position:0% inside the blockchain that you're 00:14:56.070 --> 00:14:57.860 align:start position:0% inside the blockchain that you're operating<00:14:56.280> on<00:14:56.550> you<00:14:56.910> pay<00:14:57.060> a<00:14:57.090> second<00:14:57.450> layer<00:14:57.570> fee 00:14:57.860 --> 00:14:57.870 align:start position:0% operating on you pay a second layer fee 00:14:57.870 --> 00:14:59.270 align:start position:0% operating on you pay a second layer fee to<00:14:58.080> cross<00:14:58.290> bridges<00:14:58.740> throughout<00:14:59.010> the<00:14:59.160> network 00:14:59.270 --> 00:14:59.280 align:start position:0% to cross bridges throughout the network 00:14:59.280 --> 00:15:00.770 align:start position:0% to cross bridges throughout the network so<00:14:59.580> if<00:14:59.670> you<00:14:59.760> needed<00:14:59.970> your<00:15:00.180> transaction<00:15:00.630> to<00:15:00.690> be 00:15:00.770 --> 00:15:00.780 align:start position:0% so if you needed your transaction to be 00:15:00.780 --> 00:15:02.390 align:start position:0% so if you needed your transaction to be witnessed<00:15:01.080> on<00:15:01.200> another<00:15:01.410> blockchain<00:15:01.890> you'd 00:15:02.390 --> 00:15:02.400 align:start position:0% witnessed on another blockchain you'd 00:15:02.400 --> 00:15:05.030 align:start position:0% witnessed on another blockchain you'd pay<00:15:02.580> that<00:15:02.730> fee<00:15:02.940> so<00:15:03.690> over<00:15:04.410> time<00:15:04.650> what<00:15:04.920> you'll 00:15:05.030 --> 00:15:05.040 align:start position:0% pay that fee so over time what you'll 00:15:05.040 --> 00:15:06.500 align:start position:0% pay that fee so over time what you'll see<00:15:05.250> is<00:15:05.370> you'll<00:15:05.490> see<00:15:05.670> transactions<00:15:06.270> being 00:15:06.500 --> 00:15:06.510 align:start position:0% see is you'll see transactions being 00:15:06.510 --> 00:15:07.940 align:start position:0% see is you'll see transactions being able<00:15:06.600> to<00:15:06.750> skip<00:15:06.990> from<00:15:07.200> one<00:15:07.230> participating 00:15:07.940 --> 00:15:07.950 align:start position:0% able to skip from one participating 00:15:07.950 --> 00:15:09.320 align:start position:0% able to skip from one participating blockchain<00:15:08.370> through<00:15:08.640> a<00:15:08.670> connecting<00:15:09.060> network 00:15:09.320 --> 00:15:09.330 align:start position:0% blockchain through a connecting network 00:15:09.330 --> 00:15:11.410 align:start position:0% blockchain through a connecting network into<00:15:09.600> another<00:15:09.810> participating<00:15:10.410> blockchain 00:15:11.410 --> 00:15:11.420 align:start position:0% into another participating blockchain 00:15:11.420 --> 00:15:13.790 align:start position:0% into another participating blockchain paying<00:15:12.420> fees<00:15:12.750> and<00:15:12.990> crossing<00:15:13.380> bridges<00:15:13.710> along 00:15:13.790 --> 00:15:13.800 align:start position:0% paying fees and crossing bridges along 00:15:13.800 --> 00:15:15.530 align:start position:0% paying fees and crossing bridges along the<00:15:14.070> way<00:15:14.190> and<00:15:14.400> incentivizing<00:15:14.910> these<00:15:15.150> actors 00:15:15.530 --> 00:15:15.540 align:start position:0% the way and incentivizing these actors 00:15:15.540 --> 00:15:17.090 align:start position:0% the way and incentivizing these actors to<00:15:15.690> essentially<00:15:16.080> act<00:15:16.230> as<00:15:16.350> the<00:15:16.500> validators<00:15:16.950> on 00:15:17.090 --> 00:15:17.100 align:start position:0% to essentially act as the validators on 00:15:17.100 --> 00:15:19.070 align:start position:0% to essentially act as the validators on these<00:15:17.220> on<00:15:17.490> these<00:15:17.640> bridges<00:15:17.820> so<00:15:18.600> there<00:15:18.780> well 00:15:19.070 --> 00:15:19.080 align:start position:0% these on these bridges so there well 00:15:19.080 --> 00:15:20.720 align:start position:0% these on these bridges so there well we're<00:15:19.320> also<00:15:19.440> publishing<00:15:19.710> an<00:15:20.070> economic<00:15:20.520> paper 00:15:20.720 --> 00:15:20.730 align:start position:0% we're also publishing an economic paper 00:15:20.730 --> 00:15:22.670 align:start position:0% we're also publishing an economic paper in<00:15:21.570> the<00:15:21.720> next<00:15:21.930> few<00:15:22.110> months<00:15:22.230> that<00:15:22.380> will<00:15:22.500> dive 00:15:22.670 --> 00:15:22.680 align:start position:0% in the next few months that will dive 00:15:22.680 --> 00:15:25.010 align:start position:0% in the next few months that will dive into<00:15:22.890> you<00:15:23.550> know<00:15:23.670> the<00:15:23.820> economic<00:15:24.240> model<00:15:24.810> behind 00:15:25.010 --> 00:15:25.020 align:start position:0% into you know the economic model behind 00:15:25.020 --> 00:15:29.480 align:start position:0% into you know the economic model behind this<00:15:25.080> a<00:15:25.140> little<00:15:25.320> bit<00:15:25.500> more<00:15:27.080> the<00:15:28.080> token<00:15:28.440> we<00:15:29.070> are 00:15:29.480 --> 00:15:29.490 align:start position:0% this a little bit more the token we are 00:15:29.490 --> 00:15:31.850 align:start position:0% this a little bit more the token we are building<00:15:30.480> another<00:15:30.750> protocol<00:15:31.260> that<00:15:31.470> we<00:15:31.620> think 00:15:31.850 --> 00:15:31.860 align:start position:0% building another protocol that we think 00:15:31.860 --> 00:15:33.470 align:start position:0% building another protocol that we think will<00:15:31.950> be<00:15:32.010> useful<00:15:32.130> to<00:15:32.460> a<00:15:32.490> lot<00:15:32.700> of<00:15:32.790> projects<00:15:33.210> that 00:15:33.470 --> 00:15:33.480 align:start position:0% will be useful to a lot of projects that 00:15:33.480 --> 00:15:35.600 align:start position:0% will be useful to a lot of projects that start<00:15:34.290> off<00:15:34.500> with<00:15:34.800> the<00:15:34.890> idea<00:15:35.010> of<00:15:35.220> creating<00:15:35.370> an 00:15:35.600 --> 00:15:35.610 align:start position:0% start off with the idea of creating an 00:15:35.610 --> 00:15:35.810 align:start position:0% start off with the idea of creating an ear 00:15:35.810 --> 00:15:35.820 align:start position:0% ear 00:15:35.820 --> 00:15:37.310 align:start position:0% ear c20<00:15:36.210> token<00:15:36.480> on<00:15:36.570> the<00:15:36.660> on<00:15:36.870> the<00:15:36.960> etherion 00:15:37.310 --> 00:15:37.320 align:start position:0% c20 token on the on the etherion 00:15:37.320 --> 00:15:38.720 align:start position:0% c20 token on the on the etherion blockchain<00:15:37.710> and<00:15:37.800> eventually<00:15:38.520> want<00:15:38.670> to 00:15:38.720 --> 00:15:38.730 align:start position:0% blockchain and eventually want to 00:15:38.730 --> 00:15:40.400 align:start position:0% blockchain and eventually want to natively<00:15:39.060> move<00:15:39.300> that<00:15:39.480> token<00:15:39.840> into<00:15:40.020> its<00:15:40.260> own 00:15:40.400 --> 00:15:40.410 align:start position:0% natively move that token into its own 00:15:40.410 --> 00:15:43.700 align:start position:0% natively move that token into its own blockchain<00:15:40.920> coin<00:15:41.330> so<00:15:42.330> the<00:15:43.080> first<00:15:43.290> bridge<00:15:43.560> that 00:15:43.700 --> 00:15:43.710 align:start position:0% blockchain coin so the first bridge that 00:15:43.710 --> 00:15:45.020 align:start position:0% blockchain coin so the first bridge that we're<00:15:43.800> gonna<00:15:43.920> be<00:15:44.070> releasing<00:15:44.370> at<00:15:44.940> the 00:15:45.020 --> 00:15:45.030 align:start position:0% we're gonna be releasing at the 00:15:45.030 --> 00:15:46.970 align:start position:0% we're gonna be releasing at the beginning<00:15:45.270> of<00:15:45.420> next<00:15:45.510> year<00:15:45.720> is<00:15:46.050> a<00:15:46.350> token<00:15:46.650> bridge 00:15:46.970 --> 00:15:46.980 align:start position:0% beginning of next year is a token bridge 00:15:46.980 --> 00:15:48.590 align:start position:0% beginning of next year is a token bridge to<00:15:47.250> essentially<00:15:47.670> allow<00:15:47.850> for<00:15:48.060> a<00:15:48.090> burn<00:15:48.300> and<00:15:48.330> mint 00:15:48.590 --> 00:15:48.600 align:start position:0% to essentially allow for a burn and mint 00:15:48.600 --> 00:15:50.660 align:start position:0% to essentially allow for a burn and mint functionality<00:15:49.260> native<00:15:49.890> to<00:15:50.010> the<00:15:50.100> ERC<00:15:50.340> 20 00:15:50.660 --> 00:15:50.670 align:start position:0% functionality native to the ERC 20 00:15:50.670 --> 00:15:52.400 align:start position:0% functionality native to the ERC 20 contract<00:15:51.060> so<00:15:51.270> if<00:15:51.360> you<00:15:51.450> can<00:15:51.600> prove<00:15:51.900> to<00:15:52.110> the<00:15:52.200> ERC 00:15:52.400 --> 00:15:52.410 align:start position:0% contract so if you can prove to the ERC 00:15:52.410 --> 00:15:54.800 align:start position:0% contract so if you can prove to the ERC 20<00:15:52.770> contract<00:15:53.220> that<00:15:53.820> you've<00:15:53.940> burnt<00:15:54.270> your<00:15:54.330> token 00:15:54.800 --> 00:15:54.810 align:start position:0% 20 contract that you've burnt your token 00:15:54.810 --> 00:15:56.780 align:start position:0% 20 contract that you've burnt your token then<00:15:55.230> on<00:15:55.350> the<00:15:55.740> other<00:15:55.770> side<00:15:55.980> of<00:15:56.340> the<00:15:56.400> bridge<00:15:56.610> on 00:15:56.780 --> 00:15:56.790 align:start position:0% then on the other side of the bridge on 00:15:56.790 --> 00:15:58.640 align:start position:0% then on the other side of the bridge on this<00:15:56.910> new<00:15:57.150> native<00:15:57.480> blockchain<00:15:57.960> a<00:15:58.110> coin<00:15:58.440> will 00:15:58.640 --> 00:15:58.650 align:start position:0% this new native blockchain a coin will 00:15:58.650 --> 00:16:00.800 align:start position:0% this new native blockchain a coin will be<00:15:58.680> minted<00:15:59.040> for<00:15:59.220> you<00:15:59.340> and<00:15:59.520> kind<00:16:00.450> of<00:16:00.510> more 00:16:00.800 --> 00:16:00.810 align:start position:0% be minted for you and kind of more 00:16:00.810 --> 00:16:02.060 align:start position:0% be minted for you and kind of more interesting<00:16:01.320> than<00:16:01.410> that<00:16:01.470> is<00:16:01.590> the<00:16:01.800> fact<00:16:01.980> that 00:16:02.060 --> 00:16:02.070 align:start position:0% interesting than that is the fact that 00:16:02.070 --> 00:16:02.900 align:start position:0% interesting than that is the fact that we<00:16:02.190> want<00:16:02.340> to<00:16:02.400> make<00:16:02.520> this<00:16:02.640> a<00:16:02.700> bi-directional 00:16:02.900 --> 00:16:02.910 align:start position:0% we want to make this a bi-directional 00:16:02.910 --> 00:16:04.970 align:start position:0% we want to make this a bi-directional bridge<00:16:03.540> so<00:16:03.870> that<00:16:03.900> again<00:16:04.230> if<00:16:04.380> I<00:16:04.470> prove<00:16:04.770> to<00:16:04.800> the 00:16:04.970 --> 00:16:04.980 align:start position:0% bridge so that again if I prove to the 00:16:04.980 --> 00:16:06.770 align:start position:0% bridge so that again if I prove to the protocol<00:16:05.370> that<00:16:05.400> I'm<00:16:05.610> connecting<00:16:06.030> to<00:16:06.210> that 00:16:06.770 --> 00:16:06.780 align:start position:0% protocol that I'm connecting to that 00:16:06.780 --> 00:16:08.030 align:start position:0% protocol that I'm connecting to that I've<00:16:06.870> burnt<00:16:07.140> a<00:16:07.290> coin<00:16:07.500> then<00:16:07.770> I<00:16:07.830> can<00:16:07.980> actually 00:16:08.030 --> 00:16:08.040 align:start position:0% I've burnt a coin then I can actually 00:16:08.040 --> 00:16:10.760 align:start position:0% I've burnt a coin then I can actually ream<00:16:08.460> into<00:16:08.850> the<00:16:08.940> ERC<00:16:09.210> 20<00:16:09.600> token<00:16:09.870> so<00:16:10.410> we<00:16:10.530> want<00:16:10.710> to 00:16:10.760 --> 00:16:10.770 align:start position:0% ream into the ERC 20 token so we want to 00:16:10.770 --> 00:16:12.710 align:start position:0% ream into the ERC 20 token so we want to be<00:16:10.860> able<00:16:10.920> to<00:16:11.040> create<00:16:11.340> this<00:16:11.490> fluid<00:16:12.090> concept<00:16:12.360> of 00:16:12.710 --> 00:16:12.720 align:start position:0% be able to create this fluid concept of 00:16:12.720 --> 00:16:14.210 align:start position:0% be able to create this fluid concept of tokens<00:16:13.080> being<00:16:13.260> able<00:16:13.320> to<00:16:13.410> transfer<00:16:14.010> from<00:16:14.130> one 00:16:14.210 --> 00:16:14.220 align:start position:0% tokens being able to transfer from one 00:16:14.220 --> 00:16:16.370 align:start position:0% tokens being able to transfer from one blockchain<00:16:14.820> to<00:16:15.000> another<00:16:15.270> without<00:16:15.900> changing 00:16:16.370 --> 00:16:16.380 align:start position:0% blockchain to another without changing 00:16:16.380 --> 00:16:18.020 align:start position:0% blockchain to another without changing the<00:16:16.470> underlying<00:16:16.500> supply<00:16:17.280> of<00:16:17.490> that<00:16:17.670> of<00:16:17.880> that 00:16:18.020 --> 00:16:18.030 align:start position:0% the underlying supply of that of that 00:16:18.030 --> 00:16:20.480 align:start position:0% the underlying supply of that of that currency<00:16:18.300> so<00:16:18.930> that<00:16:18.960> at<00:16:19.200> some<00:16:19.410> point<00:16:19.650> you<00:16:20.370> can 00:16:20.480 --> 00:16:20.490 align:start position:0% currency so that at some point you can 00:16:20.490 --> 00:16:22.790 align:start position:0% currency so that at some point you can see<00:16:20.700> token<00:16:21.240> economies<00:16:21.930> that<00:16:22.050> are<00:16:22.110> scaling 00:16:22.790 --> 00:16:22.800 align:start position:0% see token economies that are scaling 00:16:22.800 --> 00:16:24.260 align:start position:0% see token economies that are scaling across<00:16:23.100> multiple<00:16:23.400> block<00:16:23.670> chains<00:16:23.880> rather<00:16:24.120> than 00:16:24.260 --> 00:16:24.270 align:start position:0% across multiple block chains rather than 00:16:24.270 --> 00:16:25.970 align:start position:0% across multiple block chains rather than single<00:16:24.570> block<00:16:24.690> chains<00:16:24.900> so<00:16:25.470> this<00:16:25.620> is<00:16:25.740> something 00:16:25.970 --> 00:16:25.980 align:start position:0% single block chains so this is something 00:16:25.980 --> 00:16:27.140 align:start position:0% single block chains so this is something we're<00:16:26.100> gonna<00:16:26.190> be<00:16:26.340> building<00:16:26.670> and<00:16:26.790> testing<00:16:27.090> for 00:16:27.140 --> 00:16:27.150 align:start position:0% we're gonna be building and testing for 00:16:27.150 --> 00:16:28.820 align:start position:0% we're gonna be building and testing for our<00:16:27.360> own<00:16:27.510> token<00:16:27.930> but<00:16:28.080> as<00:16:28.170> a<00:16:28.200> protocol<00:16:28.590> that<00:16:28.740> we 00:16:28.820 --> 00:16:28.830 align:start position:0% our own token but as a protocol that we 00:16:28.830 --> 00:16:29.990 align:start position:0% our own token but as a protocol that we think<00:16:29.010> will<00:16:29.100> be<00:16:29.220> pretty<00:16:29.520> useful<00:16:29.700> and 00:16:29.990 --> 00:16:30.000 align:start position:0% think will be pretty useful and 00:16:30.000 --> 00:16:31.550 align:start position:0% think will be pretty useful and available<00:16:30.390> for<00:16:30.810> other<00:16:30.930> people<00:16:31.200> to<00:16:31.260> apply<00:16:31.470> to 00:16:31.550 --> 00:16:31.560 align:start position:0% available for other people to apply to 00:16:31.560 --> 00:16:34.460 align:start position:0% available for other people to apply to their<00:16:31.740> projects<00:16:32.190> as<00:16:32.280> they<00:16:32.430> go<00:16:32.700> from<00:16:32.910> ERC<00:16:33.810> 22 00:16:34.460 --> 00:16:34.470 align:start position:0% their projects as they go from ERC 22 00:16:34.470 --> 00:16:35.870 align:start position:0% their projects as they go from ERC 22 native<00:16:34.860> coin<00:16:35.040> at<00:16:35.310> some<00:16:35.520> point<00:16:35.700> in<00:16:35.790> the 00:16:35.870 --> 00:16:35.880 align:start position:0% native coin at some point in the 00:16:35.880 --> 00:16:39.050 align:start position:0% native coin at some point in the evolution<00:16:36.210> of<00:16:36.270> their<00:16:36.390> technologies<00:16:37.880> so<00:16:38.880> other 00:16:39.050 --> 00:16:39.060 align:start position:0% evolution of their technologies so other 00:16:39.060 --> 00:16:40.280 align:start position:0% evolution of their technologies so other kind<00:16:39.330> of<00:16:39.360> potential<00:16:39.720> applications<00:16:40.170> we're 00:16:40.280 --> 00:16:40.290 align:start position:0% kind of potential applications we're 00:16:40.290 --> 00:16:42.380 align:start position:0% kind of potential applications we're looking<00:16:40.590> at<00:16:40.740> obviously<00:16:41.030> there's<00:16:42.030> a<00:16:42.090> lot<00:16:42.300> of 00:16:42.380 --> 00:16:42.390 align:start position:0% looking at obviously there's a lot of 00:16:42.390 --> 00:16:43.640 align:start position:0% looking at obviously there's a lot of talk<00:16:42.570> these<00:16:42.750> days<00:16:42.810> about<00:16:42.960> decentralized 00:16:43.640 --> 00:16:43.650 align:start position:0% talk these days about decentralized 00:16:43.650 --> 00:16:45.500 align:start position:0% talk these days about decentralized exchanges<00:16:44.190> the<00:16:44.610> only<00:16:44.880> ones<00:16:45.030> we've<00:16:45.180> really 00:16:45.500 --> 00:16:45.510 align:start position:0% exchanges the only ones we've really 00:16:45.510 --> 00:16:47.300 align:start position:0% exchanges the only ones we've really seen<00:16:45.690> function<00:16:46.290> to<00:16:46.500> date<00:16:46.680> are<00:16:46.890> ones<00:16:47.100> that 00:16:47.300 --> 00:16:47.310 align:start position:0% seen function to date are ones that 00:16:47.310 --> 00:16:48.830 align:start position:0% seen function to date are ones that operate<00:16:47.430> on<00:16:47.730> top<00:16:47.880> of<00:16:48.030> a<00:16:48.090> single<00:16:48.360> network<00:16:48.630> so 00:16:48.830 --> 00:16:48.840 align:start position:0% operate on top of a single network so 00:16:48.840 --> 00:16:50.480 align:start position:0% operate on top of a single network so the<00:16:48.930> ERC<00:16:49.140> 20<00:16:49.470> exchanges<00:16:49.950> because<00:16:50.250> they<00:16:50.370> all 00:16:50.480 --> 00:16:50.490 align:start position:0% the ERC 20 exchanges because they all 00:16:50.490 --> 00:16:52.250 align:start position:0% the ERC 20 exchanges because they all operate<00:16:50.640> in<00:16:50.910> the<00:16:51.030> same<00:16:51.180> logical<00:16:51.750> environment 00:16:52.250 --> 00:16:52.260 align:start position:0% operate in the same logical environment 00:16:52.260 --> 00:16:53.750 align:start position:0% operate in the same logical environment of<00:16:52.320> aetherium<00:16:52.740> but<00:16:53.280> these<00:16:53.400> centralized 00:16:53.750 --> 00:16:53.760 align:start position:0% of aetherium but these centralized 00:16:53.760 --> 00:16:55.280 align:start position:0% of aetherium but these centralized exchanges<00:16:54.210> across<00:16:54.390> block<00:16:54.750> chains<00:16:54.990> is<00:16:55.140> not 00:16:55.280 --> 00:16:55.290 align:start position:0% exchanges across block chains is not 00:16:55.290 --> 00:16:56.300 align:start position:0% exchanges across block chains is not something<00:16:55.590> that<00:16:55.680> we've<00:16:55.830> been<00:16:55.950> able<00:16:56.040> to<00:16:56.130> figure 00:16:56.300 --> 00:16:56.310 align:start position:0% something that we've been able to figure 00:16:56.310 --> 00:16:58.070 align:start position:0% something that we've been able to figure out<00:16:56.490> yet<00:16:56.700> and<00:16:56.820> that's<00:16:57.330> because<00:16:57.780> we<00:16:57.900> don't<00:16:58.050> have 00:16:58.070 --> 00:16:58.080 align:start position:0% out yet and that's because we don't have 00:16:58.080 --> 00:16:59.450 align:start position:0% out yet and that's because we don't have a<00:16:58.170> decentralized<00:16:58.740> home<00:16:58.950> at<00:16:59.070> the<00:16:59.160> middle<00:16:59.370> of 00:16:59.450 --> 00:16:59.460 align:start position:0% a decentralized home at the middle of 00:16:59.460 --> 00:17:00.470 align:start position:0% a decentralized home at the middle of all<00:16:59.550> these<00:16:59.640> block<00:16:59.880> chains<00:17:00.090> we<00:17:00.210> just<00:17:00.390> have 00:17:00.470 --> 00:17:00.480 align:start position:0% all these block chains we just have 00:17:00.480 --> 00:17:02.150 align:start position:0% all these block chains we just have these<00:17:00.630> centralized<00:17:01.080> intermediaries<00:17:01.740> so 00:17:02.150 --> 00:17:02.160 align:start position:0% these centralized intermediaries so 00:17:02.160 --> 00:17:03.380 align:start position:0% these centralized intermediaries so decentralized<00:17:02.730> exchanges<00:17:03.180> across 00:17:03.380 --> 00:17:03.390 align:start position:0% decentralized exchanges across 00:17:03.390 --> 00:17:05.240 align:start position:0% decentralized exchanges across currencies<00:17:03.990> and<00:17:04.140> tokens<00:17:04.500> but<00:17:04.680> like<00:17:04.860> a<00:17:05.040> real 00:17:05.240 --> 00:17:05.250 align:start position:0% currencies and tokens but like a real 00:17:05.250 --> 00:17:06.860 align:start position:0% currencies and tokens but like a real decentralized<00:17:05.820> exchange<00:17:06.150> it<00:17:06.270> allows<00:17:06.480> us<00:17:06.689> to 00:17:06.860 --> 00:17:06.870 align:start position:0% decentralized exchange it allows us to 00:17:06.870 --> 00:17:08.569 align:start position:0% decentralized exchange it allows us to connect<00:17:07.380> Bitcoin<00:17:07.740> to<00:17:07.860> like<00:17:08.010> going<00:17:08.220> to<00:17:08.250> ether 00:17:08.569 --> 00:17:08.579 align:start position:0% connect Bitcoin to like going to ether 00:17:08.579 --> 00:17:10.939 align:start position:0% connect Bitcoin to like going to ether to<00:17:09.209> any<00:17:09.510> other<00:17:09.689> blockchain<00:17:10.140> that<00:17:10.290> has<00:17:10.589> a 00:17:10.939 --> 00:17:10.949 align:start position:0% to any other blockchain that has a 00:17:10.949 --> 00:17:14.780 align:start position:0% to any other blockchain that has a native<00:17:11.280> currency<00:17:13.010> interesting<00:17:14.010> to<00:17:14.189> you<00:17:14.670> know 00:17:14.780 --> 00:17:14.790 align:start position:0% native currency interesting to you know 00:17:14.790 --> 00:17:16.250 align:start position:0% native currency interesting to you know our<00:17:14.820> enterprise<00:17:15.390> clients<00:17:15.630> where<00:17:15.900> we<00:17:15.990> started 00:17:16.250 --> 00:17:16.260 align:start position:0% our enterprise clients where we started 00:17:16.260 --> 00:17:17.569 align:start position:0% our enterprise clients where we started testing<00:17:16.620> this<00:17:16.709> is<00:17:16.890> this<00:17:16.949> idea<00:17:17.189> of<00:17:17.220> hybrid 00:17:17.569 --> 00:17:17.579 align:start position:0% testing this is this idea of hybrid 00:17:17.579 --> 00:17:18.560 align:start position:0% testing this is this idea of hybrid public<00:17:17.880> and<00:17:18.000> private<00:17:18.270> blockchain 00:17:18.560 --> 00:17:18.570 align:start position:0% public and private blockchain 00:17:18.570 --> 00:17:20.120 align:start position:0% public and private blockchain applications<00:17:19.079> where<00:17:19.260> you<00:17:19.290> can<00:17:19.500> start<00:17:19.740> writing 00:17:20.120 --> 00:17:20.130 align:start position:0% applications where you can start writing 00:17:20.130 --> 00:17:21.860 align:start position:0% applications where you can start writing some<00:17:20.339> of<00:17:20.370> your<00:17:20.520> logic<00:17:20.910> and<00:17:21.030> keeping<00:17:21.600> some<00:17:21.780> of 00:17:21.860 --> 00:17:21.870 align:start position:0% some of your logic and keeping some of 00:17:21.870 --> 00:17:23.720 align:start position:0% some of your logic and keeping some of your<00:17:21.959> data<00:17:22.110> on<00:17:22.320> private<00:17:22.709> chains<00:17:22.920> and<00:17:23.160> if<00:17:23.520> some 00:17:23.720 --> 00:17:23.730 align:start position:0% your data on private chains and if some 00:17:23.730 --> 00:17:24.740 align:start position:0% your data on private chains and if some of<00:17:23.790> your<00:17:23.850> logic<00:17:24.180> and<00:17:24.329> some<00:17:24.420> of<00:17:24.540> your<00:17:24.630> data 00:17:24.740 --> 00:17:24.750 align:start position:0% of your logic and some of your data 00:17:24.750 --> 00:17:26.270 align:start position:0% of your logic and some of your data operating<00:17:25.170> on<00:17:25.260> public<00:17:25.530> chains<00:17:25.709> and<00:17:25.949> still<00:17:26.189> be 00:17:26.270 --> 00:17:26.280 align:start position:0% operating on public chains and still be 00:17:26.280 --> 00:17:27.500 align:start position:0% operating on public chains and still be able<00:17:26.370> to<00:17:26.459> build<00:17:26.730> these<00:17:26.880> into<00:17:27.150> a<00:17:27.180> single 00:17:27.500 --> 00:17:27.510 align:start position:0% able to build these into a single 00:17:27.510 --> 00:17:29.630 align:start position:0% able to build these into a single application<00:17:27.630> so<00:17:28.560> a<00:17:28.590> simple<00:17:28.980> example<00:17:29.400> we<00:17:29.490> often 00:17:29.630 --> 00:17:29.640 align:start position:0% application so a simple example we often 00:17:29.640 --> 00:17:30.650 align:start position:0% application so a simple example we often use<00:17:29.910> when<00:17:30.000> we're<00:17:30.120> talking<00:17:30.210> to<00:17:30.390> our<00:17:30.510> enterprise 00:17:30.650 --> 00:17:30.660 align:start position:0% use when we're talking to our enterprise 00:17:30.660 --> 00:17:32.570 align:start position:0% use when we're talking to our enterprise clients<00:17:31.020> is<00:17:31.290> you<00:17:31.380> can<00:17:31.530> imagine<00:17:31.620> having<00:17:32.400> a 00:17:32.570 --> 00:17:32.580 align:start position:0% clients is you can imagine having a 00:17:32.580 --> 00:17:34.130 align:start position:0% clients is you can imagine having a health<00:17:32.790> record<00:17:33.120> managed<00:17:33.480> on<00:17:33.630> a<00:17:33.660> sink<00:17:33.960> on<00:17:34.110> a 00:17:34.130 --> 00:17:34.140 align:start position:0% health record managed on a sink on a 00:17:34.140 --> 00:17:35.690 align:start position:0% health record managed on a sink on a private<00:17:34.410> network<00:17:34.590> of<00:17:34.980> hospitals<00:17:35.340> an 00:17:35.690 --> 00:17:35.700 align:start position:0% private network of hospitals an 00:17:35.700 --> 00:17:37.820 align:start position:0% private network of hospitals an insurance<00:17:36.510> policy<00:17:36.750> managed<00:17:37.350> on<00:17:37.470> top<00:17:37.650> of<00:17:37.770> the 00:17:37.820 --> 00:17:37.830 align:start position:0% insurance policy managed on top of the 00:17:37.830 --> 00:17:39.950 align:start position:0% insurance policy managed on top of the etherium<00:17:38.280> blockchain<00:17:38.760> and<00:17:38.970> a<00:17:39.330> payment<00:17:39.630> being 00:17:39.950 --> 00:17:39.960 align:start position:0% etherium blockchain and a payment being 00:17:39.960 --> 00:17:41.210 align:start position:0% etherium blockchain and a payment being triggered<00:17:40.410> in<00:17:40.500> some<00:17:40.680> sort<00:17:40.890> of<00:17:40.920> banking 00:17:41.210 --> 00:17:41.220 align:start position:0% triggered in some sort of banking 00:17:41.220 --> 00:17:44.120 align:start position:0% triggered in some sort of banking Network<00:17:41.520> an<00:17:42.090> application<00:17:43.050> built<00:17:43.350> there<00:17:43.740> would 00:17:44.120 --> 00:17:44.130 align:start position:0% Network an application built there would 00:17:44.130 --> 00:17:45.650 align:start position:0% Network an application built there would essentially<00:17:44.460> require<00:17:44.910> that<00:17:45.150> I'd<00:17:45.270> be<00:17:45.390> able<00:17:45.540> to 00:17:45.650 --> 00:17:45.660 align:start position:0% essentially require that I'd be able to 00:17:45.660 --> 00:17:47.600 align:start position:0% essentially require that I'd be able to trigger<00:17:46.040> actions<00:17:47.040> on<00:17:47.160> all<00:17:47.280> three<00:17:47.460> of<00:17:47.550> these 00:17:47.600 --> 00:17:47.610 align:start position:0% trigger actions on all three of these 00:17:47.610 --> 00:17:49.159 align:start position:0% trigger actions on all three of these block<00:17:47.880> chains<00:17:48.120> pretty<00:17:48.360> autonomously 00:17:49.159 --> 00:17:49.169 align:start position:0% block chains pretty autonomously 00:17:49.169 --> 00:17:51.080 align:start position:0% block chains pretty autonomously you<00:17:49.739> know<00:17:49.830> I<00:17:49.859> go<00:17:50.009> to<00:17:50.039> the<00:17:50.190> hospital<00:17:50.639> my<00:17:50.759> medical 00:17:51.080 --> 00:17:51.090 align:start position:0% you know I go to the hospital my medical 00:17:51.090 --> 00:17:52.970 align:start position:0% you know I go to the hospital my medical record<00:17:51.450> is<00:17:51.539> updated<00:17:51.659> my<00:17:52.109> insurance<00:17:52.559> policy<00:17:52.919> is 00:17:52.970 --> 00:17:52.980 align:start position:0% record is updated my insurance policy is 00:17:52.980 --> 00:17:54.590 align:start position:0% record is updated my insurance policy is verified<00:17:53.369> and<00:17:53.399> a<00:17:53.519> payment<00:17:53.850> has<00:17:53.940> made<00:17:54.119> all<00:17:54.539> of 00:17:54.590 --> 00:17:54.600 align:start position:0% verified and a payment has made all of 00:17:54.600 --> 00:17:56.450 align:start position:0% verified and a payment has made all of this<00:17:54.960> being<00:17:55.230> built<00:17:55.470> in<00:17:55.590> a<00:17:55.649> decentralized<00:17:56.249> app 00:17:56.450 --> 00:17:56.460 align:start position:0% this being built in a decentralized app 00:17:56.460 --> 00:17:58.639 align:start position:0% this being built in a decentralized app that<00:17:57.119> sits<00:17:57.359> on<00:17:57.570> the<00:17:57.629> Aon<00:17:57.899> network<00:17:58.200> connecting 00:17:58.639 --> 00:17:58.649 align:start position:0% that sits on the Aon network connecting 00:17:58.649 --> 00:18:02.180 align:start position:0% that sits on the Aon network connecting to<00:17:58.739> all<00:17:58.830> these<00:17:58.980> block<00:17:59.249> chains<00:18:00.710> so<00:18:01.710> that's<00:18:01.889> kind 00:18:02.180 --> 00:18:02.190 align:start position:0% to all these block chains so that's kind 00:18:02.190 --> 00:18:03.200 align:start position:0% to all these block chains so that's kind of<00:18:02.220> this<00:18:02.399> idea<00:18:02.669> of<00:18:02.730> decentralized 00:18:03.200 --> 00:18:03.210 align:start position:0% of this idea of decentralized 00:18:03.210 --> 00:18:04.369 align:start position:0% of this idea of decentralized applications<00:18:03.659> across<00:18:03.809> multiple<00:18:04.109> block 00:18:04.369 --> 00:18:04.379 align:start position:0% applications across multiple block 00:18:04.379 --> 00:18:05.810 align:start position:0% applications across multiple block chains<00:18:04.590> we<00:18:05.009> also<00:18:05.159> see<00:18:05.340> this<00:18:05.460> as<00:18:05.580> a<00:18:05.609> really 00:18:05.810 --> 00:18:05.820 align:start position:0% chains we also see this as a really 00:18:05.820 --> 00:18:07.039 align:start position:0% chains we also see this as a really interesting<00:18:05.999> solution<00:18:06.480> to<00:18:06.570> scale<00:18:06.749> aetherium 00:18:07.039 --> 00:18:07.049 align:start position:0% interesting solution to scale aetherium 00:18:07.049 --> 00:18:10.340 align:start position:0% interesting solution to scale aetherium you<00:18:07.409> know<00:18:07.499> as<00:18:07.769> we<00:18:08.070> see<00:18:08.389> lots<00:18:09.389> of<00:18:09.570> applications 00:18:10.340 --> 00:18:10.350 align:start position:0% you know as we see lots of applications 00:18:10.350 --> 00:18:11.720 align:start position:0% you know as we see lots of applications that<00:18:10.440> are<00:18:10.559> running<00:18:10.799> into<00:18:10.950> scaling<00:18:11.429> problems 00:18:11.720 --> 00:18:11.730 align:start position:0% that are running into scaling problems 00:18:11.730 --> 00:18:13.129 align:start position:0% that are running into scaling problems as<00:18:11.789> they<00:18:11.909> go<00:18:12.059> through<00:18:12.269> something<00:18:12.480> like<00:18:12.600> an<00:18:12.840> IC 00:18:13.129 --> 00:18:13.139 align:start position:0% as they go through something like an IC 00:18:13.139 --> 00:18:13.279 align:start position:0% as they go through something like an IC o---- 00:18:13.279 --> 00:18:13.289 align:start position:0% o---- 00:18:13.289 --> 00:18:15.169 align:start position:0% o---- we're<00:18:14.190> really<00:18:14.369> all<00:18:14.549> the<00:18:14.639> etherium<00:18:14.970> network 00:18:15.169 --> 00:18:15.179 align:start position:0% we're really all the etherium network 00:18:15.179 --> 00:18:16.639 align:start position:0% we're really all the etherium network needs<00:18:15.330> to<00:18:15.419> know<00:18:15.509> is<00:18:15.600> the<00:18:15.720> final<00:18:15.960> state<00:18:16.169> so<00:18:16.379> if 00:18:16.639 --> 00:18:16.649 align:start position:0% needs to know is the final state so if 00:18:16.649 --> 00:18:18.229 align:start position:0% needs to know is the final state so if you<00:18:16.739> can<00:18:16.859> run<00:18:16.980> all<00:18:17.159> of<00:18:17.190> your<00:18:17.340> transactions<00:18:18.059> on 00:18:18.229 --> 00:18:18.239 align:start position:0% you can run all of your transactions on 00:18:18.239 --> 00:18:19.729 align:start position:0% you can run all of your transactions on another<00:18:18.570> blockchain<00:18:19.049> and<00:18:19.080> and<00:18:19.320> just<00:18:19.499> simply 00:18:19.729 --> 00:18:19.739 align:start position:0% another blockchain and and just simply 00:18:19.739 --> 00:18:21.379 align:start position:0% another blockchain and and just simply record<00:18:20.129> the<00:18:20.220> final<00:18:20.489> state<00:18:20.730> at<00:18:20.879> the<00:18:20.970> end<00:18:20.999> of 00:18:21.379 --> 00:18:21.389 align:start position:0% record the final state at the end of 00:18:21.389 --> 00:18:23.299 align:start position:0% record the final state at the end of your<00:18:21.539> sale<00:18:22.320> at<00:18:22.590> the<00:18:22.679> end<00:18:22.830> of<00:18:22.950> your<00:18:23.039> your 00:18:23.299 --> 00:18:23.309 align:start position:0% your sale at the end of your your 00:18:23.309 --> 00:18:25.279 align:start position:0% your sale at the end of your your application<00:18:23.879> back<00:18:24.419> to<00:18:24.600> the<00:18:24.690> etherium<00:18:25.080> network 00:18:25.279 --> 00:18:25.289 align:start position:0% application back to the etherium network 00:18:25.289 --> 00:18:26.419 align:start position:0% application back to the etherium network you<00:18:25.409> can<00:18:25.499> use<00:18:25.559> this<00:18:25.799> as<00:18:25.919> kind<00:18:25.980> of<00:18:26.129> an<00:18:26.249> on<00:18:26.399> ramp 00:18:26.419 --> 00:18:26.429 align:start position:0% you can use this as kind of an on ramp 00:18:26.429 --> 00:18:28.639 align:start position:0% you can use this as kind of an on ramp and<00:18:26.789> off<00:18:26.940> ramp<00:18:27.239> for<00:18:27.720> aetherium<00:18:28.019> applications 00:18:28.639 --> 00:18:28.649 align:start position:0% and off ramp for aetherium applications 00:18:28.649 --> 00:18:31.099 align:start position:0% and off ramp for aetherium applications as<00:18:28.769> you're<00:18:28.919> developing<00:18:29.039> them<00:18:29.690> and<00:18:30.690> then<00:18:30.869> the 00:18:31.099 --> 00:18:31.109 align:start position:0% as you're developing them and then the 00:18:31.109 --> 00:18:32.570 align:start position:0% as you're developing them and then the dream<00:18:31.379> is<00:18:31.679> Unchained<00:18:32.190> artificial 00:18:32.570 --> 00:18:32.580 align:start position:0% dream is Unchained artificial 00:18:32.580 --> 00:18:33.859 align:start position:0% dream is Unchained artificial intelligence<00:18:33.029> this<00:18:33.149> is<00:18:33.210> the<00:18:33.419> idea<00:18:33.690> behind 00:18:33.859 --> 00:18:33.869 align:start position:0% intelligence this is the idea behind 00:18:33.869 --> 00:18:34.940 align:start position:0% intelligence this is the idea behind what<00:18:34.289> we're<00:18:34.409> doing<00:18:34.590> in<00:18:34.679> proof<00:18:34.859> of 00:18:34.940 --> 00:18:34.950 align:start position:0% what we're doing in proof of 00:18:34.950 --> 00:18:36.259 align:start position:0% what we're doing in proof of intelligence<00:18:35.429> so<00:18:35.580> that<00:18:35.609> you<00:18:35.789> can<00:18:35.909> start<00:18:36.149> to 00:18:36.259 --> 00:18:36.269 align:start position:0% intelligence so that you can start to 00:18:36.269 --> 00:18:37.570 align:start position:0% intelligence so that you can start to create<00:18:36.539> you<00:18:37.109> know<00:18:37.200> machine<00:18:37.499> learning 00:18:37.570 --> 00:18:37.580 align:start position:0% create you know machine learning 00:18:37.580 --> 00:18:39.259 align:start position:0% create you know machine learning functionalities<00:18:38.580> that<00:18:38.609> can<00:18:38.789> be<00:18:38.879> called<00:18:39.119> by 00:18:39.259 --> 00:18:39.269 align:start position:0% functionalities that can be called by 00:18:39.269 --> 00:18:41.090 align:start position:0% functionalities that can be called by smart<00:18:39.570> contracts<00:18:40.049> on<00:18:40.200> the<00:18:40.259> chain<00:18:40.679> without 00:18:41.090 --> 00:18:41.100 align:start position:0% smart contracts on the chain without 00:18:41.100 --> 00:18:42.889 align:start position:0% smart contracts on the chain without having<00:18:41.340> to<00:18:41.460> take<00:18:41.609> advantage<00:18:41.970> of<00:18:42.119> centralized 00:18:42.889 --> 00:18:42.899 align:start position:0% having to take advantage of centralized 00:18:42.899 --> 00:18:44.749 align:start position:0% having to take advantage of centralized AI<00:18:43.109> systems<00:18:43.649> that<00:18:44.070> are<00:18:44.190> being<00:18:44.489> developed 00:18:44.749 --> 00:18:44.759 align:start position:0% AI systems that are being developed 00:18:44.759 --> 00:18:48.830 align:start position:0% AI systems that are being developed today<00:18:46.700> so<00:18:47.700> roadmap<00:18:48.119> this<00:18:48.419> is<00:18:48.539> our<00:18:48.629> first 00:18:48.830 --> 00:18:48.840 align:start position:0% today so roadmap this is our first 00:18:48.840 --> 00:18:50.749 align:start position:0% today so roadmap this is our first release<00:18:49.080> coming<00:18:49.289> up<00:18:49.440> in<00:18:49.559> 2018<00:18:50.070> what<00:18:50.519> you<00:18:50.609> can 00:18:50.749 --> 00:18:50.759 align:start position:0% release coming up in 2018 what you can 00:18:50.759 --> 00:18:52.399 align:start position:0% release coming up in 2018 what you can expect<00:18:51.090> to<00:18:51.210> see<00:18:51.450> there<00:18:51.690> as<00:18:51.869> well<00:18:52.019> have<00:18:52.109> a<00:18:52.139> we'll 00:18:52.399 --> 00:18:52.409 align:start position:0% expect to see there as well have a we'll 00:18:52.409 --> 00:18:54.859 align:start position:0% expect to see there as well have a we'll have<00:18:52.499> a<00:18:52.529> live<00:18:52.710> network<00:18:52.940> operating<00:18:53.940> likely<00:18:54.749> in 00:18:54.859 --> 00:18:54.869 align:start position:0% have a live network operating likely in 00:18:54.869 --> 00:18:56.749 align:start position:0% have a live network operating likely in January<00:18:55.350> but<00:18:55.590> you<00:18:56.489> know<00:18:56.580> we'll<00:18:56.730> see 00:18:56.749 --> 00:18:56.759 align:start position:0% January but you know we'll see 00:18:56.759 --> 00:18:58.220 align:start position:0% January but you know we'll see engineering<00:18:57.389> roadmaps<00:18:57.720> tend<00:18:57.960> to<00:18:58.019> be<00:18:58.109> a<00:18:58.139> little 00:18:58.220 --> 00:18:58.230 align:start position:0% engineering roadmaps tend to be a little 00:18:58.230 --> 00:19:00.830 align:start position:0% engineering roadmaps tend to be a little flexible<00:18:58.799> modified<00:18:59.700> EVM<00:19:00.090> big<00:19:00.389> change<00:19:00.629> being 00:19:00.830 --> 00:19:00.840 align:start position:0% flexible modified EVM big change being 00:19:00.840 --> 00:19:03.680 align:start position:0% flexible modified EVM big change being moving<00:19:01.350> from<00:19:01.529> 256<00:19:02.249> bits<00:19:02.429> 228<00:19:03.090> bits<00:19:03.239> in<00:19:03.359> the<00:19:03.419> ATM 00:19:03.680 --> 00:19:03.690 align:start position:0% moving from 256 bits 228 bits in the ATM 00:19:03.690 --> 00:19:05.749 align:start position:0% moving from 256 bits 228 bits in the ATM design<00:19:04.049> we've<00:19:04.980> modified<00:19:05.249> the<00:19:05.460> echo<00:19:05.639> hash 00:19:05.749 --> 00:19:05.759 align:start position:0% design we've modified the echo hash 00:19:05.759 --> 00:19:07.789 align:start position:0% design we've modified the echo hash mining<00:19:06.299> to<00:19:06.600> essentially<00:19:07.109> increase<00:19:07.440> ASIC 00:19:07.789 --> 00:19:07.799 align:start position:0% mining to essentially increase ASIC 00:19:07.799 --> 00:19:09.799 align:start position:0% mining to essentially increase ASIC resistance<00:19:08.249> by<00:19:08.549> increasing<00:19:09.210> memory<00:19:09.359> usage 00:19:09.799 --> 00:19:09.809 align:start position:0% resistance by increasing memory usage 00:19:09.809 --> 00:19:12.139 align:start position:0% resistance by increasing memory usage increasing<00:19:10.619> computational<00:19:11.159> complexity<00:19:11.669> this 00:19:12.139 --> 00:19:12.149 align:start position:0% increasing computational complexity this 00:19:12.149 --> 00:19:13.580 align:start position:0% increasing computational complexity this eventually<00:19:12.749> will<00:19:12.869> get<00:19:12.960> swapped<00:19:13.230> out<00:19:13.409> with 00:19:13.580 --> 00:19:13.590 align:start position:0% eventually will get swapped out with 00:19:13.590 --> 00:19:14.989 align:start position:0% eventually will get swapped out with proof<00:19:13.830> of<00:19:13.919> intelligence<00:19:14.460> which<00:19:14.639> is<00:19:14.669> being 00:19:14.989 --> 00:19:14.999 align:start position:0% proof of intelligence which is being 00:19:14.999 --> 00:19:16.639 align:start position:0% proof of intelligence which is being developed<00:19:15.210> kind<00:19:15.450> of<00:19:15.570> in<00:19:15.690> parallel<00:19:15.899> but<00:19:16.200> needs 00:19:16.639 --> 00:19:16.649 align:start position:0% developed kind of in parallel but needs 00:19:16.649 --> 00:19:18.710 align:start position:0% developed kind of in parallel but needs a<00:19:16.739> little<00:19:16.769> bit<00:19:17.009> more<00:19:17.159> time<00:19:17.389> still<00:19:18.389> running<00:19:18.629> as 00:19:18.710 --> 00:19:18.720 align:start position:0% a little bit more time still running as 00:19:18.720 --> 00:19:20.330 align:start position:0% a little bit more time still running as a<00:19:18.749> proof<00:19:18.960> of<00:19:19.049> work<00:19:19.200> system<00:19:19.259> before<00:19:19.830> we<00:19:20.070> get<00:19:20.190> to 00:19:20.330 --> 00:19:20.340 align:start position:0% a proof of work system before we get to 00:19:20.340 --> 00:19:22.970 align:start position:0% a proof of work system before we get to that<00:19:20.460> hybrid<00:19:20.669> consensus<00:19:21.419> we're<00:19:22.379> gonna<00:19:22.799> be 00:19:22.970 --> 00:19:22.980 align:start position:0% that hybrid consensus we're gonna be 00:19:22.980 --> 00:19:24.769 align:start position:0% that hybrid consensus we're gonna be open<00:19:23.159> sourcing<00:19:23.460> our<00:19:23.549> java<00:19:23.789> api<00:19:24.119> which<00:19:24.450> is<00:19:24.600> like 00:19:24.769 --> 00:19:24.779 align:start position:0% open sourcing our java api which is like 00:19:24.779 --> 00:19:27.619 align:start position:0% open sourcing our java api which is like an<00:19:24.929> enterprise<00:19:25.230> api<00:19:25.559> we've<00:19:25.830> used<00:19:26.450> for<00:19:27.450> a<00:19:27.480> lot 00:19:27.619 --> 00:19:27.629 align:start position:0% an enterprise api we've used for a lot 00:19:27.629 --> 00:19:29.229 align:start position:0% an enterprise api we've used for a lot of<00:19:27.749> our<00:19:27.840> large-scale<00:19:28.139> enterprise<00:19:28.739> clients 00:19:29.229 --> 00:19:29.239 align:start position:0% of our large-scale enterprise clients 00:19:29.239 --> 00:19:32.029 align:start position:0% of our large-scale enterprise clients focusing<00:19:30.239> on<00:19:30.359> transaction<00:19:30.899> scale<00:19:31.200> and<00:19:31.919> then 00:19:32.029 --> 00:19:32.039 align:start position:0% focusing on transaction scale and then 00:19:32.039 --> 00:19:34.129 align:start position:0% focusing on transaction scale and then finally<00:19:32.369> we'll<00:19:32.489> be<00:19:32.519> releasing<00:19:32.850> the<00:19:33.389> ERC<00:19:33.779> to<00:19:34.109> a 00:19:34.129 --> 00:19:34.139 align:start position:0% finally we'll be releasing the ERC to a 00:19:34.139 --> 00:19:37.249 align:start position:0% finally we'll be releasing the ERC to a on<00:19:34.409> bridge<00:19:35.070> protocol<00:19:36.029> and<00:19:36.239> here's<00:19:36.840> a<00:19:36.899> look<00:19:37.139> at 00:19:37.249 --> 00:19:37.259 align:start position:0% on bridge protocol and here's a look at 00:19:37.259 --> 00:19:38.659 align:start position:0% on bridge protocol and here's a look at our<00:19:37.350> roadmap<00:19:37.649> over<00:19:37.830> the<00:19:37.919> next<00:19:38.070> kind<00:19:38.279> of<00:19:38.309> year 00:19:38.659 --> 00:19:38.669 align:start position:0% our roadmap over the next kind of year 00:19:38.669 --> 00:19:41.330 align:start position:0% our roadmap over the next kind of year and<00:19:38.730> a<00:19:38.820> half<00:19:38.909> to<00:19:39.090> two<00:19:39.269> years<00:19:39.950> both<00:19:40.950> on<00:19:41.159> the 00:19:41.330 --> 00:19:41.340 align:start position:0% and a half to two years both on the 00:19:41.340 --> 00:19:42.769 align:start position:0% and a half to two years both on the research<00:19:41.609> layer<00:19:41.940> what<00:19:42.179> the<00:19:42.269> papers<00:19:42.570> will<00:19:42.690> be 00:19:42.769 --> 00:19:42.779 align:start position:0% research layer what the papers will be 00:19:42.779 --> 00:19:44.690 align:start position:0% research layer what the papers will be releasing<00:19:43.049> and<00:19:43.379> in<00:19:43.440> the<00:19:43.529> releases<00:19:43.919> of<00:19:43.950> all<00:19:44.460> of 00:19:44.690 --> 00:19:44.700 align:start position:0% releasing and in the releases of all of 00:19:44.700 --> 00:19:46.190 align:start position:0% releasing and in the releases of all of the<00:19:44.759> functionalities<00:19:45.419> we<00:19:45.539> expect<00:19:45.869> everything 00:19:46.190 --> 00:19:46.200 align:start position:0% the functionalities we expect everything 00:19:46.200 --> 00:19:48.769 align:start position:0% the functionalities we expect everything on<00:19:46.289> our<00:19:46.320> white<00:19:46.980> paper<00:19:47.269> to<00:19:48.269> be<00:19:48.359> released<00:19:48.659> by 00:19:48.769 --> 00:19:48.779 align:start position:0% on our white paper to be released by 00:19:48.779 --> 00:19:50.720 align:start position:0% on our white paper to be released by early<00:19:49.049> 2019<00:19:49.289> but<00:19:49.859> with<00:19:49.980> live<00:19:50.159> iteration<00:19:50.609> so 00:19:50.720 --> 00:19:50.730 align:start position:0% early 2019 but with live iteration so 00:19:50.730 --> 00:19:51.950 align:start position:0% early 2019 but with live iteration so the<00:19:50.820> network<00:19:51.059> kind<00:19:51.149> of<00:19:51.269> going<00:19:51.539> throughout 00:19:51.950 --> 00:19:51.960 align:start position:0% the network kind of going throughout 00:19:51.960 --> 00:19:55.789 align:start position:0% the network kind of going throughout that<00:19:52.139> time<00:19:52.700> so<00:19:53.700> that's<00:19:53.909> oh<00:19:54.210> and<00:19:55.109> then<00:19:55.259> just 00:19:55.789 --> 00:19:55.799 align:start position:0% that time so that's oh and then just 00:19:55.799 --> 00:19:57.979 align:start position:0% that time so that's oh and then just quick<00:19:56.070> update<00:19:56.460> on<00:19:56.489> progress<00:19:56.779> for<00:19:57.779> those<00:19:57.869> of 00:19:57.979 --> 00:19:57.989 align:start position:0% quick update on progress for those of 00:19:57.989 --> 00:19:59.779 align:start position:0% quick update on progress for those of you<00:19:58.080> following<00:19:58.230> the<00:19:58.529> project<00:19:59.039> everything's 00:19:59.779 --> 00:19:59.789 align:start position:0% you following the project everything's 00:19:59.789 --> 00:20:01.909 align:start position:0% you following the project everything's been<00:20:00.090> is<00:20:00.299> in<00:20:00.480> development<00:20:00.809> right<00:20:01.049> now<00:20:01.080> with 00:20:01.909 --> 00:20:01.919 align:start position:0% been is in development right now with 00:20:01.919 --> 00:20:02.870 align:start position:0% been is in development right now with the<00:20:02.009> exception<00:20:02.399> of<00:20:02.489> the 00:20:02.870 --> 00:20:02.880 align:start position:0% the exception of the 00:20:02.880 --> 00:20:04.130 align:start position:0% the exception of the a<00:20:02.910> on<00:20:03.060> virtual<00:20:03.390> machine<00:20:03.600> which<00:20:03.720> is<00:20:03.870> still<00:20:04.020> kind 00:20:04.130 --> 00:20:04.140 align:start position:0% a on virtual machine which is still kind 00:20:04.140 --> 00:20:05.990 align:start position:0% a on virtual machine which is still kind of<00:20:04.200> in<00:20:04.290> its<00:20:04.410> research<00:20:04.680> phase<00:20:04.950> some<00:20:05.850> of<00:20:05.940> these 00:20:05.990 --> 00:20:06.000 align:start position:0% of in its research phase some of these 00:20:06.000 --> 00:20:07.790 align:start position:0% of in its research phase some of these things<00:20:06.180> are<00:20:06.390> you<00:20:06.690> know<00:20:06.720> 2<00:20:06.870> month<00:20:07.230> roadmap<00:20:07.620> some 00:20:07.790 --> 00:20:07.800 align:start position:0% things are you know 2 month roadmap some 00:20:07.800 --> 00:20:08.660 align:start position:0% things are you know 2 month roadmap some of<00:20:07.890> these<00:20:07.950> things<00:20:08.070> are<00:20:08.250> a<00:20:08.280> year<00:20:08.430> and<00:20:08.520> a<00:20:08.550> half 00:20:08.660 --> 00:20:08.670 align:start position:0% of these things are a year and a half 00:20:08.670 --> 00:20:10.340 align:start position:0% of these things are a year and a half long<00:20:08.790> roadmap<00:20:09.180> so<00:20:09.210> we've<00:20:09.480> got<00:20:09.630> kind<00:20:10.020> of<00:20:10.110> pieces 00:20:10.340 --> 00:20:10.350 align:start position:0% long roadmap so we've got kind of pieces 00:20:10.350 --> 00:20:11.270 align:start position:0% long roadmap so we've got kind of pieces of<00:20:10.440> the<00:20:10.530> team<00:20:10.680> that<00:20:10.710> are<00:20:10.860> working<00:20:11.040> on<00:20:11.190> all 00:20:11.270 --> 00:20:11.280 align:start position:0% of the team that are working on all 00:20:11.280 --> 00:20:13.430 align:start position:0% of the team that are working on all these<00:20:11.430> pieces<00:20:12.330> of<00:20:12.540> the<00:20:12.600> project<00:20:12.960> in<00:20:13.080> parallel 00:20:13.430 --> 00:20:13.440 align:start position:0% these pieces of the project in parallel 00:20:13.440 --> 00:20:15.680 align:start position:0% these pieces of the project in parallel and<00:20:14.220> we're<00:20:14.430> constantly<00:20:14.790> giving<00:20:15.270> updates<00:20:15.540> out 00:20:15.680 --> 00:20:15.690 align:start position:0% and we're constantly giving updates out 00:20:15.690 --> 00:20:17.120 align:start position:0% and we're constantly giving updates out so<00:20:15.960> you<00:20:16.170> know<00:20:16.290> follow<00:20:16.500> us<00:20:16.560> online<00:20:16.800> would<00:20:17.070> be 00:20:17.120 --> 00:20:17.130 align:start position:0% so you know follow us online would be 00:20:17.130 --> 00:20:18.260 align:start position:0% so you know follow us online would be happy<00:20:17.340> to<00:20:17.430> get<00:20:17.520> you<00:20:17.580> guys<00:20:17.760> involved<00:20:18.060> in 00:20:18.260 --> 00:20:18.270 align:start position:0% happy to get you guys involved in 00:20:18.270 --> 00:20:19.300 align:start position:0% happy to get you guys involved in learning<00:20:18.570> more<00:20:18.810> about<00:20:18.870> what<00:20:19.080> we're<00:20:19.200> doing 00:20:19.300 --> 00:20:19.310 align:start position:0% learning more about what we're doing 00:20:19.310 --> 00:20:21.110 align:start position:0% learning more about what we're doing this<00:20:20.310> is<00:20:20.490> who's<00:20:20.640> here 00:20:21.110 --> 00:20:21.120 align:start position:0% this is who's here 00:20:21.120 --> 00:20:23.840 align:start position:0% this is who's here at<00:20:21.360> Def<00:20:21.600> Con<00:20:21.630> so<00:20:21.990> we've<00:20:22.110> got<00:20:22.230> I<00:20:22.380> think<00:20:22.440> 12<00:20:22.920> at 00:20:23.840 --> 00:20:23.850 align:start position:0% at Def Con so we've got I think 12 at 00:20:23.850 --> 00:20:25.040 align:start position:0% at Def Con so we've got I think 12 at Def<00:20:24.090> Con<00:20:24.150> most<00:20:24.450> of<00:20:24.570> them<00:20:24.660> I<00:20:24.720> think<00:20:24.870> they're<00:20:24.960> all 00:20:25.040 --> 00:20:25.050 align:start position:0% Def Con most of them I think they're all 00:20:25.050 --> 00:20:26.570 align:start position:0% Def Con most of them I think they're all in<00:20:25.170> the<00:20:25.230> room<00:20:25.380> so<00:20:25.590> feel<00:20:25.980> free<00:20:26.130> to<00:20:26.160> come<00:20:26.310> find<00:20:26.460> us 00:20:26.570 --> 00:20:26.580 align:start position:0% in the room so feel free to come find us 00:20:26.580 --> 00:20:28.760 align:start position:0% in the room so feel free to come find us if<00:20:26.640> you<00:20:26.700> have<00:20:26.790> questions<00:20:27.290> and<00:20:28.290> you<00:20:28.500> can<00:20:28.620> follow 00:20:28.760 --> 00:20:28.770 align:start position:0% if you have questions and you can follow 00:20:28.770 --> 00:20:30.110 align:start position:0% if you have questions and you can follow us<00:20:28.920> at<00:20:29.010> an<00:20:29.130> entire<00:20:29.340> network<00:20:29.460> thanks<00:20:29.970> a<00:20:30.000> lot 00:20:30.110 --> 00:20:30.120 align:start position:0% us at an entire network thanks a lot 00:20:30.120 --> 00:20:31.810 align:start position:0% us at an entire network thanks a lot guys 00:20:31.810 --> 00:20:31.820 align:start position:0% guys 00:20:31.820 --> 00:20:36.820 align:start position:0% guys [Applause] 00:20:36.820 --> 00:20:36.830 align:start position:0% [Applause] 00:20:36.830 --> 00:20:44.410 align:start position:0% [Applause] [Music]