WEBVTT Kind: captions Language: en 00:00:05.250 --> 00:00:08.720 align:start position:0% many<00:00:05.819> different<00:00:06.740> roads<00:00:07.740> to<00:00:07.979> go<00:00:08.100> down<00:00:08.340> hyper 00:00:08.720 --> 00:00:08.730 align:start position:0% many different roads to go down hyper 00:00:08.730 --> 00:00:09.920 align:start position:0% many different roads to go down hyper ledger<00:00:09.030> is<00:00:09.270> working<00:00:09.570> of<00:00:09.690> course<00:00:09.719> with 00:00:09.920 --> 00:00:09.930 align:start position:0% ledger is working of course with 00:00:09.930 --> 00:00:13.459 align:start position:0% ledger is working of course with enterprise<00:00:10.440> and<00:00:10.920> we<00:00:11.700> have<00:00:11.990> gems<00:00:12.990> can<00:00:13.199> speak<00:00:13.379> a 00:00:13.459 --> 00:00:13.469 align:start position:0% enterprise and we have gems can speak a 00:00:13.469 --> 00:00:15.850 align:start position:0% enterprise and we have gems can speak a little<00:00:13.559> bit<00:00:13.680> to<00:00:13.770> blockchain<00:00:14.279> agnosticism<00:00:14.879> and 00:00:15.850 --> 00:00:15.860 align:start position:0% little bit to blockchain agnosticism and 00:00:15.860 --> 00:00:18.560 align:start position:0% little bit to blockchain agnosticism and Justin<00:00:16.860> of<00:00:16.949> course<00:00:17.160> to<00:00:17.460> east<00:00:17.970> to<00:00:18.240> in<00:00:18.420> the 00:00:18.560 --> 00:00:18.570 align:start position:0% Justin of course to east to in the 00:00:18.570 --> 00:00:20.720 align:start position:0% Justin of course to east to in the general<00:00:19.020> aetherium<00:00:19.350> roadmap<00:00:19.710> but<00:00:20.310> I'll<00:00:20.490> give 00:00:20.720 --> 00:00:20.730 align:start position:0% general aetherium roadmap but I'll give 00:00:20.730 --> 00:00:21.620 align:start position:0% general aetherium roadmap but I'll give everybody<00:00:20.939> a<00:00:21.119> moment<00:00:21.419> to<00:00:21.480> introduce 00:00:21.620 --> 00:00:21.630 align:start position:0% everybody a moment to introduce 00:00:21.630 --> 00:00:23.689 align:start position:0% everybody a moment to introduce themselves<00:00:21.990> beginning<00:00:22.589> with<00:00:22.679> Brian<00:00:22.919> okay<00:00:23.429> i'm 00:00:23.689 --> 00:00:23.699 align:start position:0% themselves beginning with Brian okay i'm 00:00:23.699 --> 00:00:25.460 align:start position:0% themselves beginning with Brian okay i'm brian<00:00:24.150> behlendorf<00:00:24.300> i'm<00:00:24.720> executive<00:00:24.990> director 00:00:25.460 --> 00:00:25.470 align:start position:0% brian behlendorf i'm executive director 00:00:25.470 --> 00:00:26.960 align:start position:0% brian behlendorf i'm executive director of<00:00:25.499> hyper<00:00:25.710> ledger<00:00:25.980> which<00:00:26.220> is<00:00:26.400> a<00:00:26.580> project 00:00:26.960 --> 00:00:26.970 align:start position:0% of hyper ledger which is a project 00:00:26.970 --> 00:00:28.519 align:start position:0% of hyper ledger which is a project embedded<00:00:27.570> inside<00:00:27.720> the<00:00:28.079> Linux<00:00:28.380> Foundation 00:00:28.519 --> 00:00:28.529 align:start position:0% embedded inside the Linux Foundation 00:00:28.529 --> 00:00:30.319 align:start position:0% embedded inside the Linux Foundation which<00:00:29.039> has<00:00:29.130> been<00:00:29.279> around<00:00:29.429> for<00:00:29.730> about<00:00:29.789> 16<00:00:30.300> years 00:00:30.319 --> 00:00:30.329 align:start position:0% which has been around for about 16 years 00:00:30.329 --> 00:00:31.880 align:start position:0% which has been around for about 16 years and<00:00:30.869> we're<00:00:31.230> all<00:00:31.320> about<00:00:31.439> trying<00:00:31.589> to<00:00:31.710> fear<00:00:31.829> on 00:00:31.880 --> 00:00:31.890 align:start position:0% and we're all about trying to fear on 00:00:31.890 --> 00:00:33.530 align:start position:0% and we're all about trying to fear on how<00:00:31.980> do<00:00:32.040> you<00:00:32.130> make<00:00:32.310> open<00:00:32.880> source<00:00:33.030> projects 00:00:33.530 --> 00:00:33.540 align:start position:0% how do you make open source projects 00:00:33.540 --> 00:00:34.580 align:start position:0% how do you make open source projects that<00:00:33.570> deal<00:00:33.840> with<00:00:33.960> plumbing<00:00:34.410> with 00:00:34.580 --> 00:00:34.590 align:start position:0% that deal with plumbing with 00:00:34.590 --> 00:00:37.520 align:start position:0% that deal with plumbing with infrastructure<00:00:35.190> sustainable<00:00:36.180> by<00:00:36.600> building 00:00:37.520 --> 00:00:37.530 align:start position:0% infrastructure sustainable by building 00:00:37.530 --> 00:00:38.600 align:start position:0% infrastructure sustainable by building not<00:00:37.740> only<00:00:37.770> communities<00:00:38.370> of<00:00:38.520> developers 00:00:38.600 --> 00:00:38.610 align:start position:0% not only communities of developers 00:00:38.610 --> 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and<00:00:44.580> make<00:00:44.940> this<00:00:45.120> kind 00:00:45.320 --> 00:00:45.330 align:start position:0% need to feedback in and make this kind 00:00:45.330 --> 00:00:47.210 align:start position:0% need to feedback in and make this kind of<00:00:45.360> flywheel<00:00:45.600> go<00:00:46.050> whether<00:00:46.650> it's<00:00:46.770> operating 00:00:47.210 --> 00:00:47.220 align:start position:0% of flywheel go whether it's operating 00:00:47.220 --> 00:00:49.460 align:start position:0% of flywheel go whether it's operating systems<00:00:47.580> or<00:00:47.820> cloud<00:00:48.150> computing<00:00:48.690> or<00:00:48.930> blockchain 00:00:49.460 --> 00:00:49.470 align:start position:0% systems or cloud computing or blockchain 00:00:49.470 --> 00:00:51.140 align:start position:0% systems or cloud computing or blockchain technology<00:00:49.950> and<00:00:50.040> it's<00:00:50.130> kind<00:00:50.280> of<00:00:50.340> where<00:00:51.030> high 00:00:51.140 --> 00:00:51.150 align:start position:0% technology and it's kind of where high 00:00:51.150 --> 00:00:54.410 align:start position:0% technology and it's kind of where high pressure<00:00:51.390> comes<00:00:51.600> from<00:00:51.660> ok<00:00:52.940> my<00:00:53.940> name<00:00:54.090> is<00:00:54.120> James 00:00:54.410 --> 00:00:54.420 align:start position:0% pressure comes from ok my name is James 00:00:54.420 --> 00:00:56.810 align:start position:0% pressure comes from ok my name is James Prestwich<00:00:54.900> I'm<00:00:55.140> a<00:00:55.230> co-founder<00:00:55.710> at<00:00:56.130> Summa<00:00:56.580> we 00:00:56.810 --> 00:00:56.820 align:start position:0% Prestwich I'm a co-founder at Summa we 00:00:56.820 --> 00:00:58.240 align:start position:0% Prestwich I'm a co-founder at Summa we work<00:00:57.000> on<00:00:57.150> cross<00:00:57.420> chain<00:00:57.600> interoperability 00:00:58.240 --> 00:00:58.250 align:start position:0% work on cross chain interoperability 00:00:58.250 --> 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where<00:01:06.360> it<00:01:06.509> wasn't 00:01:06.679 --> 00:01:06.689 align:start position:0% in interoperability where it wasn't 00:01:06.689 --> 00:01:10.789 align:start position:0% in interoperability where it wasn't meant<00:01:07.110> to<00:01:07.200> go<00:01:08.390> I'm<00:01:09.390> Justin<00:01:09.869> Drake<00:01:10.079> research<00:01:10.649> I 00:01:10.789 --> 00:01:10.799 align:start position:0% meant to go I'm Justin Drake research I 00:01:10.799 --> 00:01:13.279 align:start position:0% meant to go I'm Justin Drake research I determine<00:01:11.130> foundation<00:01:11.670> I<00:01:11.969> mostly<00:01:12.719> focus<00:01:12.929> on 00:01:13.279 --> 00:01:13.289 align:start position:0% determine foundation I mostly focus on 00:01:13.289 --> 00:01:16.429 align:start position:0% determine foundation I mostly focus on the<00:01:13.530> theorem<00:01:13.920> 2.0<00:01:14.479> all<00:01:15.479> layers<00:01:15.869> of<00:01:15.990> the<00:01:16.109> design 00:01:16.429 --> 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I<00:01:27.090> think 00:01:27.499 --> 00:01:27.509 align:start position:0% kick things off a little bit of I think 00:01:27.509 --> 00:01:29.599 align:start position:0% kick things off a little bit of I think it<00:01:27.810> is<00:01:28.140> important<00:01:28.859> to<00:01:28.890> understand<00:01:29.399> where 00:01:29.599 --> 00:01:29.609 align:start position:0% it is important to understand where 00:01:29.609 --> 00:01:32.239 align:start position:0% it is important to understand where everybody<00:01:30.060> is<00:01:30.420> looking<00:01:30.689> into<00:01:31.439> the<00:01:32.100> near 00:01:32.239 --> 00:01:32.249 align:start position:0% everybody is looking into the near 00:01:32.249 --> 00:01:34.819 align:start position:0% everybody is looking into the near future<00:01:32.460> to<00:01:33.270> then<00:01:33.420> figure<00:01:33.689> out<00:01:33.810> what<00:01:34.530> needs<00:01:34.740> to 00:01:34.819 --> 00:01:34.829 align:start position:0% future to then figure out what needs to 00:01:34.829 --> 00:01:37.039 align:start position:0% future to then figure out what needs to be<00:01:35.009> done<00:01:35.189> for<00:01:35.759> us<00:01:35.850> to<00:01:36.030> work<00:01:36.149> a<00:01:36.240> little<00:01:36.450> more 00:01:37.039 --> 00:01:37.049 align:start position:0% be done for us to work a little more 00:01:37.049 --> 00:01:39.139 align:start position:0% be done for us to work a little more closely<00:01:37.319> together<00:01:37.649> at<00:01:37.979> least<00:01:38.130> to<00:01:38.429> communicate 00:01:39.139 --> 00:01:39.149 align:start position:0% closely together at least to communicate 00:01:39.149 --> 00:01:42.230 align:start position:0% closely together at least to communicate with<00:01:39.329> one<00:01:39.479> another<00:01:39.509> so<00:01:39.990> to<00:01:40.259> Brian<00:01:40.859> to<00:01:41.850> educate 00:01:42.230 --> 00:01:42.240 align:start position:0% with one another so to Brian to educate 00:01:42.240 --> 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hyper ledger is headed can you chat about<00:01:48.240> the<00:01:48.359> grand<00:01:48.569> vision<00:01:51.170> so<00:01:52.170> four<00:01:53.130> years<00:01:53.159> ago 00:01:53.599 --> 00:01:53.609 align:start position:0% about the grand vision so four years ago 00:01:53.609 --> 00:01:56.539 align:start position:0% about the grand vision so four years ago alright<00:01:54.439> aetherium<00:01:55.439> was<00:01:55.590> still<00:01:55.829> kind<00:01:56.249> of<00:01:56.310> a 00:01:56.539 --> 00:01:56.549 align:start position:0% alright aetherium was still kind of a 00:01:56.549 --> 00:01:58.719 align:start position:0% alright aetherium was still kind of a road<00:01:56.729> map<00:01:56.909> a<00:01:57.090> plan<00:01:57.479> it<00:01:57.659> was<00:01:57.719> before<00:01:58.020> the<00:01:58.139> ICO 00:01:58.719 --> 00:01:58.729 align:start position:0% road map a plan it was before the ICO 00:01:58.729 --> 00:02:01.910 align:start position:0% road map a plan it was before the ICO Bitcoin<00:01:59.729> had<00:02:00.060> arguably<00:02:01.049> taken<00:02:01.439> off<00:02:01.560> and<00:02:01.829> been 00:02:01.910 --> 00:02:01.920 align:start position:0% Bitcoin had arguably taken off and been 00:02:01.920 --> 00:02:03.980 align:start position:0% Bitcoin had arguably taken off and been interesting<00:02:02.369> and<00:02:03.029> enterprises<00:02:03.899> were 00:02:03.980 --> 00:02:03.990 align:start position:0% interesting and enterprises were 00:02:03.990 --> 00:02:05.599 align:start position:0% interesting and enterprises were starting<00:02:04.259> to<00:02:04.319> pay<00:02:04.439> attention<00:02:04.649> to<00:02:04.859> it<00:02:05.130> but<00:02:05.279> had 00:02:05.599 --> 00:02:05.609 align:start position:0% starting to pay attention to it but had 00:02:05.609 --> 00:02:07.399 align:start position:0% starting to pay attention to it but had a<00:02:05.639> lot<00:02:05.819> of<00:02:05.909> concerns<00:02:06.270> right<00:02:06.600> partly<00:02:07.319> the 00:02:07.399 --> 00:02:07.409 align:start position:0% a lot of concerns right partly the 00:02:07.409 --> 00:02:09.130 align:start position:0% a lot of concerns right partly the regulatory<00:02:07.799> bit<00:02:08.160> partly<00:02:08.610> proof-of-work 00:02:09.130 --> 00:02:09.140 align:start position:0% regulatory bit partly proof-of-work 00:02:09.140 --> 00:02:11.570 align:start position:0% regulatory bit partly proof-of-work partly<00:02:10.140> like<00:02:10.380> this<00:02:10.590> sense<00:02:10.800> of<00:02:10.979> where<00:02:11.310> is<00:02:11.430> this 00:02:11.570 --> 00:02:11.580 align:start position:0% partly like this sense of where is this 00:02:11.580 --> 00:02:13.940 align:start position:0% partly like this sense of where is this technology<00:02:11.880> coming<00:02:12.360> from<00:02:12.540> and<00:02:12.780> so<00:02:13.709> a<00:02:13.739> lot<00:02:13.920> of 00:02:13.940 --> 00:02:13.950 align:start position:0% technology coming from and so a lot of 00:02:13.950 --> 00:02:15.770 align:start position:0% technology coming from and so a lot of us<00:02:14.129> it<00:02:14.280> sounded<00:02:14.549> very<00:02:14.670> familiar<00:02:14.909> right<00:02:15.510> it 00:02:15.770 --> 00:02:15.780 align:start position:0% us it sounded very familiar right it 00:02:15.780 --> 00:02:16.640 align:start position:0% us it sounded very familiar right it sounded<00:02:16.170> a<00:02:16.230> little<00:02:16.349> bit 00:02:16.640 --> 00:02:16.650 align:start position:0% sounded a little bit 00:02:16.650 --> 00:02:18.830 align:start position:0% sounded a little bit like<00:02:16.709> 1998<00:02:17.310> when<00:02:17.879> the<00:02:17.970> term<00:02:18.120> open<00:02:18.269> source'<00:02:18.420> was 00:02:18.830 --> 00:02:18.840 align:start position:0% like 1998 when the term open source' was 00:02:18.840 --> 00:02:21.259 align:start position:0% like 1998 when the term open source' was kind<00:02:19.049> of<00:02:19.079> defined<00:02:19.439> and<00:02:20.159> but<00:02:20.700> but<00:02:20.849> even<00:02:21.030> like 00:02:21.259 --> 00:02:21.269 align:start position:0% kind of defined and but but even like 00:02:21.269 --> 00:02:23.539 align:start position:0% kind of defined and but but even like the<00:02:21.450> years<00:02:21.659> before<00:02:22.049> that<00:02:22.079> we're<00:02:22.549> projects 00:02:23.539 --> 00:02:23.549 align:start position:0% the years before that we're projects 00:02:23.549 --> 00:02:25.580 align:start position:0% the years before that we're projects that<00:02:23.760> were<00:02:23.939> built<00:02:24.239> by<00:02:24.480> communities<00:02:25.349> of 00:02:25.580 --> 00:02:25.590 align:start position:0% that were built by communities of 00:02:25.590 --> 00:02:27.710 align:start position:0% that were built by communities of developers<00:02:25.769> working<00:02:26.430> together<00:02:26.629> actually<00:02:27.629> is 00:02:27.710 --> 00:02:27.720 align:start position:0% developers working together actually is 00:02:27.720 --> 00:02:29.330 align:start position:0% developers working together actually is how<00:02:27.870> we<00:02:27.930> got<00:02:28.200> the<00:02:28.379> internet<00:02:28.709> it's<00:02:28.890> how<00:02:29.010> we<00:02:29.069> got 00:02:29.330 --> 00:02:29.340 align:start position:0% how we got the internet it's how we got 00:02:29.340 --> 00:02:33.199 align:start position:0% how we got the internet it's how we got SMTP<00:02:30.180> and<00:02:30.420> DNS<00:02:30.930> and<00:02:31.430> HTTP<00:02:32.430> and<00:02:32.640> those<00:02:32.790> kinds<00:02:33.150> of 00:02:33.199 --> 00:02:33.209 align:start position:0% SMTP and DNS and HTTP and those kinds of 00:02:33.209 --> 00:02:35.599 align:start position:0% SMTP and DNS and HTTP and those kinds of things<00:02:33.420> and<00:02:33.659> so<00:02:33.780> I<00:02:34.019> the<00:02:34.890> Linux<00:02:35.159> Foundation<00:02:35.250> had 00:02:35.599 --> 00:02:35.609 align:start position:0% things and so I the Linux Foundation had 00:02:35.609 --> 00:02:37.360 align:start position:0% things and so I the Linux Foundation had started<00:02:35.939> to<00:02:36.030> hear<00:02:36.269> from<00:02:36.480> different<00:02:36.689> parties 00:02:37.360 --> 00:02:37.370 align:start position:0% started to hear from different parties 00:02:37.370 --> 00:02:40.490 align:start position:0% started to hear from different parties both<00:02:38.370> big<00:02:38.760> corporations<00:02:39.480> but<00:02:39.689> also<00:02:39.840> companies 00:02:40.490 --> 00:02:40.500 align:start position:0% both big corporations but also companies 00:02:40.500 --> 00:02:42.349 align:start position:0% both big corporations but also companies like<00:02:40.739> block<00:02:41.010> stream<00:02:41.280> and<00:02:41.489> even<00:02:41.640> consensus<00:02:42.209> and 00:02:42.349 --> 00:02:42.359 align:start position:0% like block stream and even consensus and 00:02:42.359 --> 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that<00:02:50.340> goes 00:02:50.539 --> 00:02:50.549 align:start position:0% history of distributed systems that goes 00:02:50.549 --> 00:02:52.970 align:start position:0% history of distributed systems that goes back<00:02:50.879> a<00:02:51.209> couple<00:02:51.540> of<00:02:51.690> decades<00:02:51.810> right<00:02:52.319> but<00:02:52.739> had<00:02:52.950> a 00:02:52.970 --> 00:02:52.980 align:start position:0% back a couple of decades right but had a 00:02:52.980 --> 00:02:54.770 align:start position:0% back a couple of decades right but had a fresh<00:02:53.280> take<00:02:53.519> on<00:02:53.639> it<00:02:53.790> and<00:02:53.909> it<00:02:54.209> was<00:02:54.299> worth<00:02:54.540> trying 00:02:54.770 --> 00:02:54.780 align:start position:0% fresh take on it and it was worth trying 00:02:54.780 --> 00:02:56.660 align:start position:0% fresh take on it and it was worth trying to<00:02:54.930> figure<00:02:55.200> out<00:02:55.230> where<00:02:55.829> can<00:02:56.280> we<00:02:56.400> meet<00:02:56.609> up 00:02:56.660 --> 00:02:56.670 align:start position:0% to figure out where can we meet up 00:02:56.670 --> 00:02:58.819 align:start position:0% to figure out where can we meet up between<00:02:57.180> enterprises<00:02:58.079> that<00:02:58.500> have<00:02:58.620> problems 00:02:58.819 --> 00:02:58.829 align:start position:0% between enterprises that have problems 00:02:58.829 --> 00:03:00.589 align:start position:0% between enterprises that have problems not<00:02:59.400> so<00:02:59.639> much<00:02:59.790> with<00:02:59.909> programmable<00:03:00.389> money 00:03:00.589 --> 00:03:00.599 align:start position:0% not so much with programmable money 00:03:00.599 --> 00:03:02.929 align:start position:0% not so much with programmable money partly<00:03:01.530> with<00:03:01.680> decentralization<00:03:02.400> you<00:03:02.819> know 00:03:02.929 --> 00:03:02.939 align:start position:0% partly with decentralization you know 00:03:02.939 --> 00:03:05.390 align:start position:0% partly with decentralization you know this<00:03:03.659> moved<00:03:04.230> to<00:03:04.500> the<00:03:04.590> cloud<00:03:04.799> and<00:03:04.980> a<00:03:05.040> move<00:03:05.220> to 00:03:05.390 --> 00:03:05.400 align:start position:0% this moved to the cloud and a move to 00:03:05.400 --> 00:03:06.890 align:start position:0% this moved to the cloud and a move to kind<00:03:05.519> of<00:03:05.670> two<00:03:05.790> or<00:03:05.939> three<00:03:06.120> providers<00:03:06.510> is<00:03:06.659> great 00:03:06.890 --> 00:03:06.900 align:start position:0% kind of two or three providers is great 00:03:06.900 --> 00:03:08.089 align:start position:0% kind of two or three providers is great if<00:03:07.049> you're<00:03:07.200> a<00:03:07.230> shareholder<00:03:07.439> into<00:03:07.920> one<00:03:08.010> of 00:03:08.089 --> 00:03:08.099 align:start position:0% if you're a shareholder into one of 00:03:08.099 --> 00:03:09.979 align:start position:0% if you're a shareholder into one of those<00:03:08.220> two<00:03:08.400> or<00:03:08.430> three<00:03:08.549> but<00:03:09.180> kind<00:03:09.389> of<00:03:09.480> lousy<00:03:09.810> for 00:03:09.979 --> 00:03:09.989 align:start position:0% those two or three but kind of lousy for 00:03:09.989 --> 00:03:12.740 align:start position:0% those two or three but kind of lousy for every<00:03:10.230> other<00:03:10.409> enterprise<00:03:10.950> right<00:03:11.250> so<00:03:12.090> so<00:03:12.480> where 00:03:12.740 --> 00:03:12.750 align:start position:0% every other enterprise right so so where 00:03:12.750 --> 00:03:14.809 align:start position:0% every other enterprise right so so where could<00:03:13.139> we<00:03:13.319> meet<00:03:13.470> that<00:03:13.590> up<00:03:13.769> and<00:03:13.950> really<00:03:14.700> it<00:03:14.760> was 00:03:14.809 --> 00:03:14.819 align:start position:0% could we meet that up and really it was 00:03:14.819 --> 00:03:16.339 align:start position:0% could we meet that up and really it was started<00:03:15.209> with<00:03:15.299> that<00:03:15.420> idea<00:03:15.780> and<00:03:16.019> a<00:03:16.049> bunch<00:03:16.230> of 00:03:16.339 --> 00:03:16.349 align:start position:0% started with that idea and a bunch of 00:03:16.349 --> 00:03:17.869 align:start position:0% started with that idea and a bunch of the<00:03:16.439> companies<00:03:16.859> that<00:03:16.889> came<00:03:17.189> together<00:03:17.370> kind<00:03:17.819> of 00:03:17.869 --> 00:03:17.879 align:start position:0% the companies that came together kind of 00:03:17.879 --> 00:03:19.369 align:start position:0% the companies that came together kind of pooled<00:03:18.150> some<00:03:18.720> projects<00:03:19.109> they<00:03:19.200> had<00:03:19.290> been 00:03:19.369 --> 00:03:19.379 align:start position:0% pooled some projects they had been 00:03:19.379 --> 00:03:21.170 align:start position:0% pooled some projects they had been working<00:03:19.590> on<00:03:19.799> some<00:03:20.069> code<00:03:20.220> from<00:03:20.370> IBM<00:03:20.760> that<00:03:21.030> they 00:03:21.170 --> 00:03:21.180 align:start position:0% working on some code from IBM that they 00:03:21.180 --> 00:03:22.849 align:start position:0% working on some code from IBM that they had<00:03:21.299> called<00:03:21.540> initially<00:03:22.230> internally<00:03:22.620> open 00:03:22.849 --> 00:03:22.859 align:start position:0% had called initially internally open 00:03:22.859 --> 00:03:24.860 align:start position:0% had called initially internally open blockchain<00:03:23.310> and<00:03:23.519> then<00:03:23.609> we<00:03:23.819> was<00:03:24.239> called<00:03:24.449> fabric 00:03:24.860 --> 00:03:24.870 align:start position:0% blockchain and then we was called fabric 00:03:24.870 --> 00:03:27.229 align:start position:0% blockchain and then we was called fabric code<00:03:25.319> from<00:03:25.470> Intel<00:03:25.859> that<00:03:26.579> was<00:03:26.669> kind<00:03:26.819> of<00:03:26.849> an<00:03:26.970> R&D 00:03:27.229 --> 00:03:27.239 align:start position:0% code from Intel that was kind of an R&D 00:03:27.239 --> 00:03:30.020 align:start position:0% code from Intel that was kind of an R&D platform<00:03:27.810> called<00:03:28.019> sawtooth<00:03:28.440> and<00:03:28.849> code<00:03:29.849> from 00:03:30.020 --> 00:03:30.030 align:start position:0% platform called sawtooth and code from 00:03:30.030 --> 00:03:31.580 align:start position:0% platform called sawtooth and code from some<00:03:30.209> other<00:03:30.329> places<00:03:30.660> like<00:03:30.780> digital<00:03:31.109> asset<00:03:31.470> and 00:03:31.580 --> 00:03:31.590 align:start position:0% some other places like digital asset and 00:03:31.590 --> 00:03:33.050 align:start position:0% some other places like digital asset and it<00:03:31.650> was<00:03:31.739> kind<00:03:31.919> of<00:03:31.949> like<00:03:32.069> let's<00:03:32.579> put<00:03:32.760> this<00:03:32.849> in<00:03:33.000> a 00:03:33.050 --> 00:03:33.060 align:start position:0% it was kind of like let's put this in a 00:03:33.060 --> 00:03:35.240 align:start position:0% it was kind of like let's put this in a pot<00:03:33.269> let's<00:03:34.079> actually<00:03:34.319> because<00:03:34.829> everyone's 00:03:35.240 --> 00:03:35.250 align:start position:0% pot let's actually because everyone's 00:03:35.250 --> 00:03:37.670 align:start position:0% pot let's actually because everyone's concerned<00:03:35.639> about<00:03:35.879> tokens<00:03:36.299> and<00:03:36.480> anti<00:03:37.079> cos<00:03:37.470> and 00:03:37.670 --> 00:03:37.680 align:start position:0% concerned about tokens and anti cos and 00:03:37.680 --> 00:03:39.289 align:start position:0% concerned about tokens and anti cos and things<00:03:37.859> like<00:03:38.010> that<00:03:38.069> let's<00:03:38.430> kind<00:03:38.639> of<00:03:38.730> distance 00:03:39.289 --> 00:03:39.299 align:start position:0% things like that let's kind of distance 00:03:39.299 --> 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of<00:03:44.849> work<00:03:45.000> kind<00:03:45.209> of<00:03:45.299> it<00:03:45.389> and<00:03:45.419> from<00:03:45.659> kind<00:03:45.900> of<00:03:45.959> the 00:03:46.039 --> 00:03:46.049 align:start position:0% of work kind of it and from kind of the 00:03:46.049 --> 00:03:47.809 align:start position:0% of work kind of it and from kind of the speculative<00:03:46.409> financial<00:03:46.829> instrument<00:03:47.579> kind<00:03:47.760> of 00:03:47.809 --> 00:03:47.819 align:start position:0% speculative financial instrument kind of 00:03:47.819 --> 00:03:49.159 align:start position:0% speculative financial instrument kind of bit<00:03:47.940> of<00:03:47.970> it<00:03:48.150> and<00:03:48.299> let's<00:03:48.659> just<00:03:48.720> see<00:03:48.900> are<00:03:49.019> there 00:03:49.159 --> 00:03:49.169 align:start position:0% bit of it and let's just see are there 00:03:49.169 --> 00:03:51.229 align:start position:0% bit of it and let's just see are there other<00:03:49.349> use<00:03:49.650> cases<00:03:49.919> to<00:03:50.099> apply<00:03:50.459> this<00:03:50.519> to<00:03:50.909> from 00:03:51.229 --> 00:03:51.239 align:start position:0% other use cases to apply this to from 00:03:51.239 --> 00:03:53.629 align:start position:0% other use cases to apply this to from the<00:03:51.959> way<00:03:52.079> that<00:03:52.319> that<00:03:52.590> banks<00:03:53.010> send<00:03:53.190> payments<00:03:53.549> to 00:03:53.629 --> 00:03:53.639 align:start position:0% the way that that banks send payments to 00:03:53.639 --> 00:03:55.069 align:start position:0% the way that that banks send payments to each<00:03:53.729> other<00:03:53.909> to<00:03:54.209> supply<00:03:54.569> chain<00:03:54.599> traceability 00:03:55.069 --> 00:03:55.079 align:start position:0% each other to supply chain traceability 00:03:55.079 --> 00:03:57.710 align:start position:0% each other to supply chain traceability to<00:03:55.739> all<00:03:55.859> sorts<00:03:56.159> of<00:03:56.220> things<00:03:56.430> and<00:03:56.699> so<00:03:56.909> that 00:03:57.710 --> 00:03:57.720 align:start position:0% to all sorts of things and so that 00:03:57.720 --> 00:03:59.869 align:start position:0% to all sorts of things and so that initial<00:03:58.049> body<00:03:58.440> of<00:03:58.620> code<00:03:58.859> didn't<00:03:59.489> include 00:03:59.869 --> 00:03:59.879 align:start position:0% initial body of code didn't include 00:03:59.879 --> 00:04:01.849 align:start position:0% initial body of code didn't include anything<00:04:00.150> in<00:04:00.389> the<00:04:00.449> etherion<00:04:00.840> space<00:04:01.079> but<00:04:01.769> when 00:04:01.849 --> 00:04:01.859 align:start position:0% anything in the etherion space but when 00:04:01.859 --> 00:04:04.460 align:start position:0% anything in the etherion space but when I<00:04:01.889> joined<00:04:02.010> in<00:04:02.609> May<00:04:03.000> of<00:04:03.030> 2016<00:04:03.690> the<00:04:04.049> project<00:04:04.349> was 00:04:04.460 --> 00:04:04.470 align:start position:0% I joined in May of 2016 the project was 00:04:04.470 --> 00:04:07.250 align:start position:0% I joined in May of 2016 the project was kind<00:04:04.530> of<00:04:04.620> launched<00:04:04.889> 2015<00:04:05.370> may<00:04:05.459> of<00:04:05.549> 2016<00:04:06.169> one<00:04:07.169> of 00:04:07.250 --> 00:04:07.260 align:start position:0% kind of launched 2015 may of 2016 one of 00:04:07.260 --> 00:04:09.319 align:start position:0% kind of launched 2015 may of 2016 one of my<00:04:07.319> first<00:04:07.500> trips<00:04:07.739> abroad<00:04:08.040> was<00:04:08.340> to<00:04:08.459> DEFCON<00:04:08.669> 2<00:04:08.940> in 00:04:09.319 --> 00:04:09.329 align:start position:0% my first trips abroad was to DEFCON 2 in 00:04:09.329 --> 00:04:11.479 align:start position:0% my first trips abroad was to DEFCON 2 in Shanghai<00:04:09.690> and<00:04:10.470> I've<00:04:10.650> been<00:04:10.859> following<00:04:11.190> the 00:04:11.479 --> 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roadshow for the original ICO and I was like<00:04:17.070> there's<00:04:17.489> something<00:04:17.820> important<00:04:18.239> here 00:04:18.409 --> 00:04:18.419 align:start position:0% like there's something important here 00:04:18.419 --> 00:04:20.089 align:start position:0% like there's something important here there's<00:04:18.630> something<00:04:18.840> urgent<00:04:18.989> here<00:04:19.979> and 00:04:20.089 --> 00:04:20.099 align:start position:0% there's something urgent here and 00:04:20.099 --> 00:04:21.379 align:start position:0% there's something urgent here and there's<00:04:20.250> certainly<00:04:20.579> this<00:04:21.120> kind<00:04:21.299> of 00:04:21.379 --> 00:04:21.389 align:start position:0% there's certainly this kind of 00:04:21.389 --> 00:04:22.909 align:start position:0% there's certainly this kind of enthusiasm<00:04:21.510> from<00:04:22.199> the<00:04:22.289> community<00:04:22.710> that<00:04:22.740> I 00:04:22.909 --> 00:04:22.919 align:start position:0% enthusiasm from the community that I 00:04:22.919 --> 00:04:24.589 align:start position:0% enthusiasm from the community that I hadn't<00:04:23.310> seen<00:04:23.370> since<00:04:23.520> the<00:04:24.000> early<00:04:24.210> days<00:04:24.360> of<00:04:24.389> the 00:04:24.589 --> 00:04:24.599 align:start position:0% hadn't seen since the early days of the 00:04:24.599 --> 00:04:26.510 align:start position:0% hadn't seen since the early days of the web<00:04:24.750> so<00:04:25.289> I<00:04:25.590> always<00:04:25.710> felt<00:04:25.950> like<00:04:26.010> we<00:04:26.099> needed<00:04:26.400> to 00:04:26.510 --> 00:04:26.520 align:start position:0% web so I always felt like we needed to 00:04:26.520 --> 00:04:28.310 align:start position:0% web so I always felt like we needed to have<00:04:26.760> some<00:04:27.330> sort<00:04:27.510> of<00:04:27.570> relations<00:04:27.990> some<00:04:28.110> sort<00:04:28.289> of 00:04:28.310 --> 00:04:28.320 align:start position:0% have some sort of relations some sort of 00:04:28.320 --> 00:04:29.610 align:start position:0% have some sort of relations some sort of bridge 00:04:29.610 --> 00:04:29.620 align:start position:0% bridge 00:04:29.620 --> 00:04:32.520 align:start position:0% bridge and<00:04:29.800> and<00:04:30.490> while<00:04:30.760> we<00:04:30.940> built<00:04:31.270> up<00:04:31.480> this<00:04:31.720> ecosystem 00:04:32.520 --> 00:04:32.530 align:start position:0% and and while we built up this ecosystem 00:04:32.530 --> 00:04:34.380 align:start position:0% and and while we built up this ecosystem around<00:04:32.650> fabric<00:04:33.340> and<00:04:33.460> around<00:04:33.640> sawtooth<00:04:34.060> and 00:04:34.380 --> 00:04:34.390 align:start position:0% around fabric and around sawtooth and 00:04:34.390 --> 00:04:36.330 align:start position:0% around fabric and around sawtooth and saw<00:04:34.900> that<00:04:35.080> start<00:04:35.320> to<00:04:35.410> get<00:04:35.500> used<00:04:35.770> in<00:04:35.950> production 00:04:36.330 --> 00:04:36.340 align:start position:0% saw that start to get used in production 00:04:36.340 --> 00:04:37.800 align:start position:0% saw that start to get used in production systems<00:04:36.520> I<00:04:36.940> realized<00:04:37.330> what<00:04:37.510> we<00:04:37.570> were<00:04:37.690> also 00:04:37.800 --> 00:04:37.810 align:start position:0% systems I realized what we were also 00:04:37.810 --> 00:04:40.080 align:start position:0% systems I realized what we were also doing<00:04:38.080> was<00:04:38.230> educating<00:04:39.100> the<00:04:39.160> market<00:04:39.520> educating 00:04:40.080 --> 00:04:40.090 align:start position:0% doing was educating the market educating 00:04:40.090 --> 00:04:42.000 align:start position:0% doing was educating the market educating the<00:04:40.300> enterprise<00:04:40.690> world<00:04:40.960> on<00:04:41.170> what<00:04:41.440> really 00:04:42.000 --> 00:04:42.010 align:start position:0% the enterprise world on what really 00:04:42.010 --> 00:04:43.920 align:start position:0% the enterprise world on what really blockchain<00:04:42.550> technology<00:04:43.060> could<00:04:43.330> be<00:04:43.510> right 00:04:43.920 --> 00:04:43.930 align:start position:0% blockchain technology could be right 00:04:43.930 --> 00:04:45.450 align:start position:0% blockchain technology could be right even<00:04:44.320> if<00:04:44.560> we<00:04:44.680> were<00:04:44.770> having<00:04:45.070> them<00:04:45.190> take<00:04:45.310> these 00:04:45.450 --> 00:04:45.460 align:start position:0% even if we were having them take these 00:04:45.460 --> 00:04:48.000 align:start position:0% even if we were having them take these kind<00:04:45.670> of<00:04:45.730> baby<00:04:45.970> steps<00:04:46.270> forward<00:04:46.690> into<00:04:47.650> just 00:04:48.000 --> 00:04:48.010 align:start position:0% kind of baby steps forward into just 00:04:48.010 --> 00:04:50.190 align:start position:0% kind of baby steps forward into just building<00:04:48.400> a<00:04:48.610> partially<00:04:49.330> distributed<00:04:49.780> systems 00:04:50.190 --> 00:04:50.200 align:start position:0% building a partially distributed systems 00:04:50.200 --> 00:04:51.830 align:start position:0% building a partially distributed systems some<00:04:50.710> sort<00:04:51.040> of<00:04:51.100> minimum<00:04:51.430> viable 00:04:51.830 --> 00:04:51.840 align:start position:0% some sort of minimum viable 00:04:51.840 --> 00:04:54.150 align:start position:0% some sort of minimum viable centralization<00:04:52.840> right<00:04:53.020> was<00:04:53.260> was<00:04:53.560> kind<00:04:54.100> of 00:04:54.150 --> 00:04:54.160 align:start position:0% centralization right was was kind of 00:04:54.160 --> 00:04:56.490 align:start position:0% centralization right was was kind of built<00:04:54.340> into<00:04:54.580> all<00:04:54.670> these<00:04:54.880> networks<00:04:55.090> now<00:04:56.020> fabric 00:04:56.490 --> 00:04:56.500 align:start position:0% built into all these networks now fabric 00:04:56.500 --> 00:04:57.930 align:start position:0% built into all these networks now fabric is<00:04:56.620> in<00:04:56.740> a<00:04:56.800> lot<00:04:56.950> of<00:04:56.980> different<00:04:57.280> places<00:04:57.430> right 00:04:57.930 --> 00:04:57.940 align:start position:0% is in a lot of different places right 00:04:57.940 --> 00:05:00.030 align:start position:0% is in a lot of different places right but<00:04:58.450> it<00:04:58.750> was<00:04:58.900> still<00:04:59.140> very<00:04:59.320> clear<00:04:59.620> that<00:04:59.830> we 00:05:00.030 --> 00:05:00.040 align:start position:0% but it was still very clear that we 00:05:00.040 --> 00:05:01.380 align:start position:0% but it was still very clear that we couldn't<00:05:00.520> we<00:05:00.640> couldn't<00:05:00.940> just<00:05:00.970> be<00:05:01.240> about 00:05:01.380 --> 00:05:01.390 align:start position:0% couldn't we couldn't just be about 00:05:01.390 --> 00:05:03.390 align:start position:0% couldn't we couldn't just be about fabric<00:05:01.840> we<00:05:01.960> couldn't<00:05:02.320> just<00:05:02.380> be<00:05:02.650> about<00:05:02.830> one 00:05:03.390 --> 00:05:03.400 align:start position:0% fabric we couldn't just be about one 00:05:03.400 --> 00:05:05.190 align:start position:0% fabric we couldn't just be about one technology<00:05:03.790> one<00:05:04.270> core<00:05:04.540> it<00:05:04.630> had<00:05:04.810> to<00:05:04.930> be<00:05:05.020> about<00:05:05.140> a 00:05:05.190 --> 00:05:05.200 align:start position:0% technology one core it had to be about a 00:05:05.200 --> 00:05:07.740 align:start position:0% technology one core it had to be about a family<00:05:05.500> of<00:05:05.740> technologies<00:05:06.040> and<00:05:06.520> so<00:05:06.640> now<00:05:07.540> in 00:05:07.740 --> 00:05:07.750 align:start position:0% family of technologies and so now in 00:05:07.750 --> 00:05:09.600 align:start position:0% family of technologies and so now in 2019<00:05:08.440> the<00:05:08.470> kind<00:05:08.800> of<00:05:08.860> vision<00:05:09.070> around<00:05:09.280> hyper 00:05:09.600 --> 00:05:09.610 align:start position:0% 2019 the kind of vision around hyper 00:05:09.610 --> 00:05:12.060 align:start position:0% 2019 the kind of vision around hyper ledger<00:05:09.880> is<00:05:10.180> can<00:05:10.990> we<00:05:11.140> be<00:05:11.290> that<00:05:11.470> that<00:05:11.680> ground 00:05:12.060 --> 00:05:12.070 align:start position:0% ledger is can we be that that ground 00:05:12.070 --> 00:05:14.490 align:start position:0% ledger is can we be that that ground that<00:05:12.610> explores<00:05:13.180> that<00:05:13.330> entire<00:05:13.690> spectrum<00:05:14.260> from 00:05:14.490 --> 00:05:14.500 align:start position:0% that explores that entire spectrum from 00:05:14.500 --> 00:05:17.040 align:start position:0% that explores that entire spectrum from permission<00:05:15.310> to<00:05:15.640> permission<00:05:16.120> list<00:05:16.270> blockchain 00:05:17.040 --> 00:05:17.050 align:start position:0% permission to permission list blockchain 00:05:17.050 --> 00:05:19.200 align:start position:0% permission to permission list blockchain technology<00:05:17.620> whether<00:05:18.430> it's<00:05:18.550> down<00:05:18.880> in<00:05:19.120> the 00:05:19.200 --> 00:05:19.210 align:start position:0% technology whether it's down in the 00:05:19.210 --> 00:05:21.240 align:start position:0% technology whether it's down in the weeds<00:05:19.360> at<00:05:19.720> the<00:05:19.870> protocol<00:05:20.410> layer<00:05:20.650> at<00:05:20.890> the<00:05:20.920> at 00:05:21.240 --> 00:05:21.250 align:start position:0% weeds at the protocol layer at the at 00:05:21.250 --> 00:05:23.250 align:start position:0% weeds at the protocol layer at the at the<00:05:21.400> government<00:05:22.300> you<00:05:22.600> know<00:05:22.690> how<00:05:22.840> do<00:05:22.900> you<00:05:22.960> forge 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--> 00:05:31.380 align:start position:0% Dog cryptography layers kryptos cryptography<00:05:29.280> -<00:05:30.280> all<00:05:30.700> the<00:05:30.910> way<00:05:31.000> up<00:05:31.090> to<00:05:31.240> end 00:05:31.380 --> 00:05:31.390 align:start position:0% cryptography - all the way up to end 00:05:31.390 --> 00:05:33.420 align:start position:0% cryptography - all the way up to end user<00:05:31.630> interfaces<00:05:32.320> -<00:05:32.560> the<00:05:32.650> Explorers<00:05:33.100> -<00:05:33.340> the 00:05:33.420 --> 00:05:33.430 align:start position:0% user interfaces - the Explorers - the 00:05:33.430 --> 00:05:35.280 align:start position:0% user interfaces - the Explorers - the kind<00:05:33.550> of<00:05:33.640> apps<00:05:34.120> and<00:05:34.360> those<00:05:34.720> sorts<00:05:35.020> of<00:05:35.110> things 00:05:35.280 --> 00:05:35.290 align:start position:0% kind of apps and those sorts of things 00:05:35.290 --> 00:05:37.320 align:start position:0% kind of apps and those sorts of things and<00:05:35.470> really<00:05:36.070> focusing<00:05:36.460> on<00:05:36.520> how<00:05:36.730> do<00:05:36.790> we<00:05:36.910> get<00:05:37.120> all 00:05:37.320 --> 00:05:37.330 align:start position:0% and really focusing on how do we get all 00:05:37.330 --> 00:05:39.210 align:start position:0% and really focusing on how do we get all the<00:05:37.600> enterprises<00:05:38.050> in<00:05:38.140> the<00:05:38.200> world<00:05:38.380> to<00:05:38.620> adopt 00:05:39.210 --> 00:05:39.220 align:start position:0% the enterprises in the world to adopt 00:05:39.220 --> 00:05:40.830 align:start position:0% the enterprises in the world to adopt this<00:05:39.460> and<00:05:39.730> take<00:05:39.970> this<00:05:40.090> for<00:05:40.300> granted<00:05:40.450> the<00:05:40.720> way 00:05:40.830 --> 00:05:40.840 align:start position:0% this and take this for granted the way 00:05:40.840 --> 00:05:43.200 align:start position:0% this and take this for granted the way that<00:05:41.050> all<00:05:41.170> of<00:05:41.200> you<00:05:41.410> take<00:05:41.650> plumbing<00:05:42.340> for 00:05:43.200 --> 00:05:43.210 align:start position:0% that all of you take plumbing for 00:05:43.210 --> 00:05:44.420 align:start position:0% that all of you take plumbing for granted<00:05:43.540> you<00:05:43.660> know<00:05:43.690> that<00:05:43.990> you<00:05:44.080> turn<00:05:44.290> the 00:05:44.420 --> 00:05:44.430 align:start position:0% granted you know that you turn the 00:05:44.430 --> 00:05:47.580 align:start position:0% granted you know that you turn the spigot<00:05:45.430> and<00:05:45.670> you<00:05:45.730> get<00:05:45.910> hot<00:05:46.210> water<00:05:46.480> right<00:05:46.840> and 00:05:47.580 --> 00:05:47.590 align:start position:0% spigot and you get hot water right and 00:05:47.590 --> 00:05:49.020 align:start position:0% spigot and you get hot water right and that's<00:05:47.800> a<00:05:48.070> multi-pronged<00:05:48.640> effort<00:05:48.790> that's 00:05:49.020 --> 00:05:49.030 align:start position:0% that's a multi-pronged effort that's 00:05:49.030 --> 00:05:50.130 align:start position:0% that's a multi-pronged effort that's going<00:05:49.180> to<00:05:49.240> evolve<00:05:49.330> a<00:05:49.480> lot<00:05:49.600> of<00:05:49.750> things<00:05:49.870> now 00:05:50.130 --> 00:05:50.140 align:start position:0% going to evolve a lot of things now 00:05:50.140 --> 00:05:52.440 align:start position:0% going to evolve a lot of things now though<00:05:50.410> we<00:05:50.680> have<00:05:50.920> a<00:05:51.160> lot<00:05:51.610> of<00:05:51.640> new<00:05:51.970> firepower 00:05:52.440 --> 00:05:52.450 align:start position:0% though we have a lot of new firepower 00:05:52.450 --> 00:05:54.600 align:start position:0% though we have a lot of new firepower from<00:05:52.660> this<00:05:52.870> community<00:05:53.350> on<00:05:53.470> our<00:05:53.590> side<00:05:53.860> with<00:05:54.550> a 00:05:54.600 --> 00:05:54.610 align:start position:0% from this community on our side with a 00:05:54.610 --> 00:05:56.190 align:start position:0% from this community on our side with a hyper<00:05:54.820> ledger<00:05:55.060> Daisy<00:05:55.330> project<00:05:55.900> which<00:05:56.050> started 00:05:56.190 --> 00:05:56.200 align:start position:0% hyper ledger Daisy project which started 00:05:56.200 --> 00:05:57.690 align:start position:0% hyper ledger Daisy project which started just<00:05:57.010> over<00:05:57.220> a<00:05:57.250> month<00:05:57.400> ago 00:05:57.690 --> 00:05:57.700 align:start position:0% just over a month ago 00:05:57.700 --> 00:05:59.370 align:start position:0% just over a month ago another<00:05:58.090> project<00:05:58.330> called<00:05:58.570> Avalon<00:05:58.990> that 00:05:59.370 --> 00:05:59.380 align:start position:0% another project called Avalon that 00:05:59.380 --> 00:06:01.140 align:start position:0% another project called Avalon that builds<00:05:59.650> off<00:05:59.800> of<00:05:59.980> the<00:06:00.100> trusted<00:06:00.490> computing<00:06:00.700> work 00:06:01.140 --> 00:06:01.150 align:start position:0% builds off of the trusted computing work 00:06:01.150 --> 00:06:03.330 align:start position:0% builds off of the trusted computing work from<00:06:01.390> Enterprise<00:06:02.050> aetherium<00:06:02.470> Alliance<00:06:02.860> and 00:06:03.330 --> 00:06:03.340 align:start position:0% from Enterprise aetherium Alliance and 00:06:03.340 --> 00:06:04.800 align:start position:0% from Enterprise aetherium Alliance and and<00:06:03.610> it's<00:06:03.970> really<00:06:04.180> exciting<00:06:04.450> and<00:06:04.690> I<00:06:04.780> think 00:06:04.800 --> 00:06:04.810 align:start position:0% and it's really exciting and I think 00:06:04.810 --> 00:06:06.600 align:start position:0% and it's really exciting and I think that<00:06:05.110> for<00:06:05.260> the<00:06:05.350> next<00:06:05.470> year<00:06:05.860> our<00:06:06.010> focus<00:06:06.340> had 00:06:06.600 --> 00:06:06.610 align:start position:0% that for the next year our focus had 00:06:06.610 --> 00:06:08.010 align:start position:0% that for the next year our focus had Piper<00:06:06.850> Ledger's<00:06:07.180> going<00:06:07.330> to<00:06:07.390> be<00:06:07.450> in<00:06:07.540> kind<00:06:07.930> of 00:06:08.010 --> 00:06:08.020 align:start position:0% Piper Ledger's going to be in kind of 00:06:08.020 --> 00:06:09.810 align:start position:0% Piper Ledger's going to be in kind of hybridizing<00:06:08.710> and<00:06:08.830> synthesizing<00:06:09.520> all<00:06:09.640> these 00:06:09.810 --> 00:06:09.820 align:start position:0% hybridizing and synthesizing all these 00:06:09.820 --> 00:06:11.550 align:start position:0% hybridizing and synthesizing all these different<00:06:10.120> pieces<00:06:10.270> we<00:06:10.510> brought<00:06:10.750> together<00:06:10.930> to 00:06:11.550 --> 00:06:11.560 align:start position:0% different pieces we brought together to 00:06:11.560 --> 00:06:13.290 align:start position:0% different pieces we brought together to take<00:06:11.680> advantage<00:06:12.040> of<00:06:12.160> all<00:06:12.340> the<00:06:12.520> really<00:06:12.790> smart 00:06:13.290 --> 00:06:13.300 align:start position:0% take advantage of all the really smart 00:06:13.300 --> 00:06:14.670 align:start position:0% take advantage of all the really smart people<00:06:13.900> and<00:06:14.080> all<00:06:14.200> the<00:06:14.290> really<00:06:14.500> smart 00:06:14.670 --> 00:06:14.680 align:start position:0% people and all the really smart 00:06:14.680 --> 00:06:16.710 align:start position:0% people and all the really smart architectures<00:06:15.520> that<00:06:15.640> have<00:06:15.730> been<00:06:15.850> poured<00:06:16.390> into 00:06:16.710 --> 00:06:16.720 align:start position:0% architectures that have been poured into 00:06:16.720 --> 00:06:18.150 align:start position:0% architectures that have been poured into this<00:06:16.900> body<00:06:17.140> of<00:06:17.290> code<00:06:17.500> gotcha 00:06:18.150 --> 00:06:18.160 align:start position:0% this body of code gotcha 00:06:18.160 --> 00:06:20.850 align:start position:0% this body of code gotcha thank<00:06:18.370> you<00:06:18.430> very<00:06:18.460> much<00:06:18.700> so<00:06:19.600> -<00:06:19.930> Justin<00:06:20.320> a<00:06:20.500> bit<00:06:20.740> of 00:06:20.850 --> 00:06:20.860 align:start position:0% thank you very much so - Justin a bit of 00:06:20.860 --> 00:06:24.300 align:start position:0% thank you very much so - Justin a bit of a<00:06:20.950> brief<00:06:21.760> overview<00:06:22.890> serenity<00:06:23.890> has<00:06:24.070> been 00:06:24.300 --> 00:06:24.310 align:start position:0% a brief overview serenity has been 00:06:24.310 --> 00:06:26.130 align:start position:0% a brief overview serenity has been something<00:06:25.090> that<00:06:25.300> everybody's<00:06:25.810> been<00:06:25.840> waiting 00:06:26.130 --> 00:06:26.140 align:start position:0% something that everybody's been waiting 00:06:26.140 --> 00:06:27.549 align:start position:0% something that everybody's been waiting for<00:06:26.680> since<00:06:27.070> the 00:06:27.549 --> 00:06:27.559 align:start position:0% for since the 00:06:27.559 --> 00:06:29.889 align:start position:0% for since the the<00:06:27.859> names<00:06:28.099> were<00:06:28.399> sort<00:06:28.849> of<00:06:28.909> released<00:06:29.269> with<00:06:29.569> our 00:06:29.889 --> 00:06:29.899 align:start position:0% the names were sort of released with our 00:06:29.899 --> 00:06:31.719 align:start position:0% the names were sort of released with our tests<00:06:30.409> not<00:06:30.529> Olympic<00:06:31.009> than<00:06:31.219> frontier 00:06:31.719 --> 00:06:31.729 align:start position:0% tests not Olympic than frontier 00:06:31.729 --> 00:06:33.519 align:start position:0% tests not Olympic than frontier homestead<00:06:32.449> metropolis<00:06:33.049> and<00:06:33.199> surrounding 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align:start position:0% design framework is very clear could you 00:06:42.349 --> 00:06:43.539 align:start position:0% design framework is very clear could you speak<00:06:42.529> a<00:06:42.619> little<00:06:42.739> bit<00:06:42.829> to<00:06:43.039> what<00:06:43.189> the<00:06:43.309> grand 00:06:43.539 --> 00:06:43.549 align:start position:0% speak a little bit to what the grand 00:06:43.549 --> 00:06:46.869 align:start position:0% speak a little bit to what the grand vision<00:06:43.789> looks<00:06:44.149> like<00:06:44.679> both<00:06:45.679> for<00:06:46.099> permission 00:06:46.869 --> 00:06:46.879 align:start position:0% vision looks like both for permission 00:06:46.879 --> 00:06:49.209 align:start position:0% vision looks like both for permission lists<00:06:47.119> for<00:06:47.269> scalability<00:06:48.219> privacy-preserving 00:06:49.209 --> 00:06:49.219 align:start position:0% lists for scalability privacy-preserving 00:06:49.219 --> 00:06:52.329 align:start position:0% lists for scalability privacy-preserving elements<00:06:50.199> phase<00:06:51.199> 2<00:06:51.349> and<00:06:51.439> beyond<00:06:51.679> a<00:06:51.979> little<00:06:52.249> bit 00:06:52.329 --> 00:06:52.339 align:start position:0% elements phase 2 and beyond a little bit 00:06:52.339 --> 00:06:53.739 align:start position:0% elements phase 2 and beyond a little bit about<00:06:52.489> serenity<00:06:52.939> is<00:06:52.999> an<00:06:53.089> overview<00:06:53.389> for<00:06:53.449> those 00:06:53.739 --> 00:06:53.749 align:start position:0% about serenity is an overview for those 00:06:53.749 --> 00:06:56.649 align:start position:0% about serenity is an overview for those who<00:06:53.899> are<00:06:53.989> who<00:06:54.109> may<00:06:54.259> not<00:06:54.529> be<00:06:54.589> as<00:06:54.769> familiar<00:06:55.659> okay 00:06:56.649 --> 00:06:56.659 align:start position:0% who are who may not be as familiar okay 00:06:56.659 --> 00:06:58.659 align:start position:0% who are who may not be as familiar okay I<00:06:56.899> guess<00:06:57.739> in<00:06:57.919> the<00:06:58.009> context<00:06:58.549> of 00:06:58.659 --> 00:06:58.669 align:start position:0% I guess in the context of 00:06:58.669 --> 00:07:01.149 align:start position:0% I guess in the context of interoperability<00:06:59.539> the<00:07:00.079> the<00:07:00.499> big<00:07:00.709> thing<00:07:00.739> that 00:07:01.149 --> 00:07:01.159 align:start position:0% interoperability the the big thing that 00:07:01.159 --> 00:07:03.729 align:start position:0% interoperability the the big thing that we<00:07:01.279> the<00:07:02.239> big<00:07:02.389> thing<00:07:02.659> in<00:07:02.809> serenity<00:07:03.139> is<00:07:03.439> shouting 00:07:03.729 --> 00:07:03.739 align:start position:0% we the big thing in serenity is shouting 00:07:03.739 --> 00:07:06.489 align:start position:0% we the big thing in serenity is shouting right<00:07:04.069> and<00:07:04.339> here<00:07:05.209> is<00:07:05.719> the<00:07:05.869> idea<00:07:06.139> that<00:07:06.169> you<00:07:06.349> have 00:07:06.489 --> 00:07:06.499 align:start position:0% right and here is the idea that you have 00:07:06.499 --> 00:07:08.799 align:start position:0% right and here is the idea that you have multiple<00:07:06.889> block<00:07:07.099> chains<00:07:07.339> and<00:07:07.639> they're<00:07:08.509> kind 00:07:08.799 --> 00:07:08.809 align:start position:0% multiple block chains and they're kind 00:07:08.809 --> 00:07:11.589 align:start position:0% multiple block chains and they're kind of<00:07:08.869> homogeneous<00:07:09.769> and<00:07:10.009> so<00:07:10.159> the<00:07:10.939> idea<00:07:11.209> is<00:07:11.299> to<00:07:11.359> try 00:07:11.589 --> 00:07:11.599 align:start position:0% of homogeneous and so the idea is to try 00:07:11.599 --> 00:07:13.479 align:start position:0% of homogeneous and so the idea is to try and<00:07:11.659> even<00:07:12.529> though<00:07:12.649> we<00:07:12.799> have<00:07:12.979> this<00:07:13.189> a 00:07:13.479 --> 00:07:13.489 align:start position:0% and even though we have this a 00:07:13.489 --> 00:07:15.009 align:start position:0% and even though we have this a synchronous<00:07:13.999> communication<00:07:14.149> between<00:07:14.779> the 00:07:15.009 --> 00:07:15.019 align:start position:0% synchronous communication between the 00:07:15.019 --> 00:07:17.709 align:start position:0% synchronous communication between the various<00:07:15.049> charts<00:07:15.619> for<00:07:15.769> scalability<00:07:16.719> this 00:07:17.709 --> 00:07:17.719 align:start position:0% various charts for scalability this 00:07:17.719 --> 00:07:20.979 align:start position:0% various charts for scalability this we're<00:07:18.439> trying<00:07:18.649> to<00:07:18.769> minimize<00:07:19.459> the<00:07:19.639> cost<00:07:19.989> by 00:07:20.979 --> 00:07:20.989 align:start position:0% we're trying to minimize the cost by 00:07:20.989 --> 00:07:23.919 align:start position:0% we're trying to minimize the cost by having<00:07:21.469> these<00:07:21.909> these<00:07:22.909> fast<00:07:23.269> cross<00:07:23.629> links 00:07:23.919 --> 00:07:23.929 align:start position:0% having these these fast cross links 00:07:23.929 --> 00:07:26.559 align:start position:0% having these these fast cross links between<00:07:24.109> them<00:07:24.469> that<00:07:24.829> share<00:07:25.249> all<00:07:25.909> the<00:07:26.179> crypto 00:07:26.559 --> 00:07:26.569 align:start position:0% between them that share all the crypto 00:07:26.569 --> 00:07:32.850 align:start position:0% between them that share all the crypto shell<00:07:27.229> and<00:07:27.379> networking<00:07:27.979> and<00:07:28.849> share<00:07:29.119> consensus 00:07:32.850 --> 00:07:32.860 align:start position:0% 00:07:32.860 --> 00:07:36.189 align:start position:0% yeah<00:07:33.860> I<00:07:33.889> mean<00:07:34.129> the<00:07:34.279> other<00:07:34.849> part<00:07:35.569> and<00:07:35.749> in<00:07:35.989> terms 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blockchains and 00:07:52.219 --> 00:07:54.339 align:start position:0% verified on another blockchains and we've<00:07:52.819> we've<00:07:53.299> made<00:07:53.419> all<00:07:53.629> sorts<00:07:53.779> of<00:07:53.959> research 00:07:54.339 --> 00:07:54.349 align:start position:0% we've we've made all sorts of research 00:07:54.349 --> 00:07:58.839 align:start position:0% we've we've made all sorts of research to<00:07:55.009> one<00:07:56.079> make<00:07:57.079> the<00:07:57.109> cost<00:07:57.469> from<00:07:57.619> a<00:07:57.849> bandwidth 00:07:58.839 --> 00:07:58.849 align:start position:0% to one make the cost from a bandwidth 00:07:58.849 --> 00:08:00.699 align:start position:0% to one make the cost from a bandwidth perspective<00:07:59.359> as<00:07:59.479> small<00:07:59.659> as<00:07:59.809> possible<00:07:59.989> but 00:08:00.699 --> 00:08:00.709 align:start position:0% perspective as small as possible but 00:08:00.709 --> 00:08:03.009 align:start position:0% perspective as small as possible but also<00:08:00.919> the<00:08:01.309> computational<00:08:01.969> cost<00:08:02.149> as<00:08:02.689> small<00:08:02.929> as 00:08:03.009 --> 00:08:03.019 align:start position:0% also the computational cost as small as 00:08:03.019 --> 00:08:05.289 align:start position:0% also the computational cost as small as possible<00:08:03.139> and<00:08:03.439> one<00:08:04.339> of<00:08:04.519> the<00:08:04.729> and<00:08:04.999> that's<00:08:05.089> one 00:08:05.289 --> 00:08:05.299 align:start position:0% possible and one of the and that's one 00:08:05.299 --> 00:08:06.969 align:start position:0% possible and one of the and that's one of<00:08:05.329> the<00:08:05.479> things<00:08:05.659> that's<00:08:05.779> unlocked<00:08:06.229> for<00:08:06.499> proof 00:08:06.969 --> 00:08:06.979 align:start position:0% of the things that's unlocked for proof 00:08:06.979 --> 00:08:08.229 align:start position:0% of the things that's unlocked for proof of<00:08:07.099> stake<00:08:07.339> which<00:08:07.579> is<00:08:07.669> the<00:08:07.789> other<00:08:07.909> big 00:08:08.229 --> 00:08:08.239 align:start position:0% of stake which is the other big 00:08:08.239 --> 00:08:13.029 align:start position:0% of stake which is the other big component<00:08:08.419> of<00:08:09.129> serenity<00:08:10.129> and<00:08:11.559> just<00:08:12.559> in<00:08:12.709> just 00:08:13.029 --> 00:08:13.039 align:start position:0% component of serenity and just in just 00:08:13.039 --> 00:08:15.849 align:start position:0% component of serenity and just in just to<00:08:13.219> summarize<00:08:13.699> how<00:08:14.239> our<00:08:15.079> strategy<00:08:15.559> here<00:08:15.799> is 00:08:15.849 --> 00:08:15.859 align:start position:0% to summarize how our strategy here is 00:08:15.859 --> 00:08:18.669 align:start position:0% to summarize how our strategy here is basically<00:08:16.369> to<00:08:16.539> to<00:08:17.539> use<00:08:17.719> committees<00:08:18.199> so<00:08:18.559> we 00:08:18.669 --> 00:08:18.679 align:start position:0% basically to to use committees so we 00:08:18.679 --> 00:08:20.679 align:start position:0% basically to to use committees so we have<00:08:18.889> this<00:08:19.339> large<00:08:19.609> number<00:08:19.759> of<00:08:20.059> validators 00:08:20.679 --> 00:08:20.689 align:start position:0% have this large number of validators 00:08:20.689 --> 00:08:23.019 align:start position:0% have this large number of validators let's<00:08:20.899> say<00:08:20.989> a<00:08:21.019> million<00:08:21.259> validators<00:08:21.919> we<00:08:22.879> have 00:08:23.019 --> 00:08:23.029 align:start position:0% let's say a million validators we have 00:08:23.029 --> 00:08:24.699 align:start position:0% let's say a million validators we have an<00:08:23.149> honesty<00:08:23.509> assumption<00:08:23.959> we<00:08:24.409> assume<00:08:24.649> for 00:08:24.699 --> 00:08:24.709 align:start position:0% an honesty assumption we assume for 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we<00:08:31.309> ask<00:08:31.489> this<00:08:31.699> committee 00:08:32.169 --> 00:08:32.179 align:start position:0% then we ask this committee 00:08:32.179 --> 00:08:36.549 align:start position:0% then we ask this committee okay<00:08:33.050> can<00:08:33.379> you<00:08:33.409> attest<00:08:34.099> to<00:08:34.819> where<00:08:35.269> the<00:08:36.259> affirm 00:08:36.549 --> 00:08:36.559 align:start position:0% okay can you attest to where the affirm 00:08:36.559 --> 00:08:38.350 align:start position:0% okay can you attest to where the affirm system<00:08:36.919> is<00:08:37.069> at<00:08:37.309> right<00:08:37.490> now<00:08:37.699> and<00:08:37.969> so<00:08:38.240> it 00:08:38.350 --> 00:08:38.360 align:start position:0% system is at right now and so it 00:08:38.360 --> 00:08:40.830 align:start position:0% system is at right now and so it suffices<00:08:38.750> for<00:08:39.289> another<00:08:40.279> block 00:08:40.830 --> 00:08:40.840 align:start position:0% suffices for another block 00:08:40.840 --> 00:08:43.469 align:start position:0% suffices for another block to<00:08:41.080> just<00:08:41.320> verify<00:08:41.890> this<00:08:42.250> at<00:08:42.400> the<00:08:42.490> stations<00:08:42.909> and 00:08:43.469 --> 00:08:43.479 align:start position:0% to just verify this at the stations and 00:08:43.479 --> 00:08:47.460 align:start position:0% to just verify this at the stations and one<00:08:43.900> of<00:08:44.080> the<00:08:44.320> the<00:08:44.680> big<00:08:46.110> tools<00:08:47.110> that<00:08:47.350> we're 00:08:47.460 --> 00:08:47.470 align:start position:0% one of the the big tools that we're 00:08:47.470 --> 00:08:51.180 align:start position:0% one of the the big tools that we're using<00:08:47.650> here<00:08:47.980> is<00:08:48.190> BLS<00:08:48.850> aggregation<00:08:49.420> and<00:08:50.290> so<00:08:50.860> if 00:08:51.180 --> 00:08:51.190 align:start position:0% using here is BLS aggregation and so if 00:08:51.190 --> 00:08:52.920 align:start position:0% using here is BLS aggregation and so if every<00:08:51.610> ancestor<00:08:52.060> is<00:08:52.180> signing<00:08:52.510> to<00:08:52.630> the<00:08:52.750> same 00:08:52.920 --> 00:08:52.930 align:start position:0% every ancestor is signing to the same 00:08:52.930 --> 00:08:54.530 align:start position:0% every ancestor is signing to the same message<00:08:53.320> you<00:08:53.710> have<00:08:53.800> this<00:08:53.920> really<00:08:54.250> nice 00:08:54.530 --> 00:08:54.540 align:start position:0% message you have this really nice 00:08:54.540 --> 00:08:59.940 align:start position:0% message you have this really nice aggregation<00:08:55.540> which<00:08:56.170> makes<00:08:56.700> verifying<00:08:58.950> these 00:08:59.940 --> 00:08:59.950 align:start position:0% aggregation which makes verifying these 00:08:59.950 --> 00:09:03.300 align:start position:0% aggregation which makes verifying these as<00:09:00.850> a<00:09:00.910> stations<00:09:01.390> extremely<00:09:01.839> cheap<00:09:02.050> so<00:09:02.680> we're 00:09:03.300 --> 00:09:03.310 align:start position:0% as a stations extremely cheap so we're 00:09:03.310 --> 00:09:07.380 align:start position:0% as a stations extremely cheap so we're at<00:09:03.370> a<00:09:03.400> point<00:09:03.490> now<00:09:03.850> where<00:09:05.670> running<00:09:06.670> and<00:09:06.940> if<00:09:07.150> to 00:09:07.380 --> 00:09:07.390 align:start position:0% at a point now where running and if to 00:09:07.390 --> 00:09:10.710 align:start position:0% at a point now where running and if to light<00:09:07.600> clients<00:09:08.080> is<00:09:08.230> probably<00:09:08.740> cheaper<00:09:09.720> it's 00:09:10.710 --> 00:09:10.720 align:start position:0% light clients is probably cheaper it's 00:09:10.720 --> 00:09:13.740 align:start position:0% light clients is probably cheaper it's cheaper<00:09:11.110> than<00:09:11.140> running<00:09:12.070> a<00:09:12.450> Bitcoin<00:09:13.450> client 00:09:13.740 --> 00:09:13.750 align:start position:0% cheaper than running a Bitcoin client 00:09:13.750 --> 00:09:16.530 align:start position:0% cheaper than running a Bitcoin client judgment<00:09:14.620> ok<00:09:15.400> so<00:09:15.610> now<00:09:15.940> I'm<00:09:16.060> going<00:09:16.089> to<00:09:16.330> kick<00:09:16.450> - 00:09:16.530 --> 00:09:16.540 align:start position:0% judgment ok so now I'm going to kick - 00:09:16.540 --> 00:09:19.350 align:start position:0% judgment ok so now I'm going to kick - James<00:09:16.890> we<00:09:17.890> see<00:09:18.070> this<00:09:18.220> kind<00:09:18.430> of<00:09:18.490> rounding<00:09:19.240> out 00:09:19.350 --> 00:09:19.360 align:start position:0% James we see this kind of rounding out 00:09:19.360 --> 00:09:22.290 align:start position:0% James we see this kind of rounding out right<00:09:19.779> so<00:09:19.990> hyper<00:09:20.230> ledger<00:09:20.529> began<00:09:21.040> as<00:09:21.400> a<00:09:21.460> Brian 00:09:22.290 --> 00:09:22.300 align:start position:0% right so hyper ledger began as a Brian 00:09:22.300 --> 00:09:25.890 align:start position:0% right so hyper ledger began as a Brian said<00:09:22.690> minimally<00:09:23.680> viable<00:09:24.370> centralized<00:09:25.360> nature 00:09:25.890 --> 00:09:25.900 align:start position:0% said minimally viable centralized nature 00:09:25.900 --> 00:09:27.510 align:start position:0% said minimally viable centralized nature were<00:09:26.260> spread<00:09:26.529> out<00:09:26.560> over<00:09:26.680> the<00:09:26.920> spectrum<00:09:27.339> to 00:09:27.510 --> 00:09:27.520 align:start position:0% were spread out over the spectrum to 00:09:27.520 --> 00:09:30.000 align:start position:0% were spread out over the spectrum to sort<00:09:27.730> of<00:09:27.760> see<00:09:27.970> what<00:09:28.000> works<00:09:28.410> with<00:09:29.410> eath<00:09:29.589> -<00:09:29.830> we 00:09:30.000 --> 00:09:30.010 align:start position:0% sort of see what works with eath - we 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regardless<00:09:37.210> of<00:09:37.570> where<00:09:38.440> they're 00:09:38.610 --> 00:09:38.620 align:start position:0% together regardless of where they're 00:09:38.620 --> 00:09:40.050 align:start position:0% together regardless of where they're implemented<00:09:39.130> can<00:09:39.279> you<00:09:39.370> speak<00:09:39.550> a<00:09:39.580> bit<00:09:39.670> to<00:09:39.910> the 00:09:40.050 --> 00:09:40.060 align:start position:0% implemented can you speak a bit to the 00:09:40.060 --> 00:09:42.329 align:start position:0% implemented can you speak a bit to the work<00:09:40.210> that's<00:09:40.390> been<00:09:40.540> done<00:09:41.010> that<00:09:42.010> you've<00:09:42.160> worked 00:09:42.329 --> 00:09:42.339 align:start position:0% work that's been done that you've worked 00:09:42.339 --> 00:09:44.190 align:start position:0% work that's been done that you've worked on<00:09:42.550> through<00:09:42.850> both<00:09:43.000> Summa<00:09:43.420> ideas<00:09:43.990> and 00:09:44.190 --> 00:09:44.200 align:start position:0% on through both Summa ideas and 00:09:44.200 --> 00:09:45.420 align:start position:0% on through both Summa ideas and Development<00:09:44.710> Research<00:09:44.860> is<00:09:45.160> taking<00:09:45.339> place 00:09:45.420 --> 00:09:45.430 align:start position:0% Development Research is taking place 00:09:45.430 --> 00:09:48.390 align:start position:0% Development Research is taking place through<00:09:45.640> TUSD<00:09:46.710> and<00:09:47.710> so<00:09:47.860> on<00:09:47.980> and<00:09:48.100> so<00:09:48.160> forth 00:09:48.390 --> 00:09:48.400 align:start position:0% through TUSD and so on and so forth 00:09:48.400 --> 00:09:52.680 align:start position:0% through TUSD and so on and so forth sorry<00:09:48.700> TBT<00:09:49.180> see<00:09:49.650> so<00:09:50.790> you<00:09:51.790> know<00:09:51.880> we're<00:09:52.240> hyper 00:09:52.680 --> 00:09:52.690 align:start position:0% sorry TBT see so you know we're hyper 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serve as many purposes<00:09:59.140> as<00:09:59.290> possible<00:09:59.740> and<00:09:59.860> help<00:10:00.190> other 00:10:00.480 --> 00:10:00.490 align:start position:0% purposes as possible and help other 00:10:00.490 --> 00:10:02.820 align:start position:0% purposes as possible and help other people<00:10:00.580> go<00:10:01.089> east<00:10:01.930> to<00:10:02.110> is<00:10:02.350> trying<00:10:02.589> to<00:10:02.710> build 00:10:02.820 --> 00:10:02.830 align:start position:0% people go east to is trying to build 00:10:02.830 --> 00:10:06.110 align:start position:0% people go east to is trying to build this<00:10:03.220> homogenous<00:10:04.180> and<00:10:04.210> unified<00:10:04.810> ecosystem 00:10:06.110 --> 00:10:06.120 align:start position:0% this homogenous and unified ecosystem 00:10:06.120 --> 00:10:09.630 align:start position:0% this homogenous and unified ecosystem Summa<00:10:07.320> rather<00:10:08.320> than<00:10:08.620> trying<00:10:08.920> to<00:10:09.010> make<00:10:09.250> every 00:10:09.630 --> 00:10:09.640 align:start position:0% Summa rather than trying to make every 00:10:09.640 --> 00:10:11.970 align:start position:0% Summa rather than trying to make every chain<00:10:09.910> the<00:10:10.089> same<00:10:10.330> rather<00:10:11.260> than<00:10:11.560> trying<00:10:11.890> to 00:10:11.970 --> 00:10:11.980 align:start position:0% chain the same rather than trying to 00:10:11.980 --> 00:10:13.440 align:start position:0% chain the same rather than trying to explore<00:10:12.430> as<00:10:12.550> much<00:10:12.700> of<00:10:12.850> the<00:10:12.970> trade-off<00:10:13.240> space 00:10:13.440 --> 00:10:13.450 align:start position:0% explore as much of the trade-off space 00:10:13.450 --> 00:10:15.390 align:start position:0% explore as much of the trade-off space as<00:10:13.600> possible<00:10:13.810> we're<00:10:14.740> trying<00:10:14.770> to<00:10:15.010> take<00:10:15.220> all<00:10:15.370> of 00:10:15.390 --> 00:10:15.400 align:start position:0% as possible we're trying to take all of 00:10:15.400 --> 00:10:17.579 align:start position:0% as possible we're trying to take all of the<00:10:15.610> chains<00:10:15.850> that<00:10:15.940> exist<00:10:16.480> that<00:10:16.839> have<00:10:17.080> users 00:10:17.579 --> 00:10:17.589 align:start position:0% the chains that exist that have users 00:10:17.589 --> 00:10:19.800 align:start position:0% the chains that exist that have users today<00:10:18.010> and<00:10:18.250> turn<00:10:18.670> them<00:10:18.910> into<00:10:18.940> a<00:10:19.210> unified 00:10:19.800 --> 00:10:19.810 align:start position:0% today and turn them into a unified 00:10:19.810 --> 00:10:22.980 align:start position:0% today and turn them into a unified heterogeneous<00:10:20.640> ecosystem<00:10:21.640> so<00:10:22.300> take<00:10:22.570> Bitcoin 00:10:22.980 --> 00:10:22.990 align:start position:0% heterogeneous ecosystem so take Bitcoin 00:10:22.990 --> 00:10:25.620 align:start position:0% heterogeneous ecosystem so take Bitcoin and<00:10:23.500> aetherium<00:10:24.040> and<00:10:24.310> cosmos<00:10:24.820> and<00:10:25.150> ensure<00:10:25.450> that 00:10:25.620 --> 00:10:25.630 align:start position:0% and aetherium and cosmos and ensure that 00:10:25.630 --> 00:10:27.630 align:start position:0% and aetherium and cosmos and ensure that those<00:10:25.810> can<00:10:26.050> all<00:10:26.230> interoperate<00:10:26.980> together<00:10:27.370> and 00:10:27.630 --> 00:10:27.640 align:start position:0% those can all interoperate together and 00:10:27.640 --> 00:10:30.570 align:start position:0% those can all interoperate together and provide<00:10:28.390> tools<00:10:28.660> to<00:10:28.870> private<00:10:29.410> chains<00:10:29.709> like 00:10:30.570 --> 00:10:30.580 align:start position:0% provide tools to private chains like 00:10:30.580 --> 00:10:33.780 align:start position:0% provide tools to private chains like hyper<00:10:31.150> ledger<00:10:31.420> projects<00:10:32.339> to<00:10:33.339> interoperate 00:10:33.780 --> 00:10:33.790 align:start position:0% hyper ledger projects to interoperate 00:10:33.790 --> 00:10:37.380 align:start position:0% hyper ledger projects to interoperate with<00:10:34.060> public<00:10:34.780> chains<00:10:35.050> efficiently<00:10:36.240> so<00:10:37.240> we're 00:10:37.380 --> 00:10:37.390 align:start position:0% with public chains efficiently so we're 00:10:37.390 --> 00:10:39.210 align:start position:0% with public chains efficiently so we're kind<00:10:37.600> of<00:10:37.690> at<00:10:37.810> a<00:10:37.930> slightly<00:10:38.589> different<00:10:38.709> point<00:10:39.070> in 00:10:39.210 --> 00:10:39.220 align:start position:0% kind of at a slightly different point in 00:10:39.220 --> 00:10:40.530 align:start position:0% kind of at a slightly different point in the<00:10:39.279> trade-off<00:10:39.610> space<00:10:39.790> than<00:10:40.000> if<00:10:40.120> -<00:10:40.330> we're 00:10:40.530 --> 00:10:40.540 align:start position:0% the trade-off space than if - we're 00:10:40.540 --> 00:10:42.570 align:start position:0% the trade-off space than if - we're trying<00:10:40.750> to<00:10:40.870> be<00:10:40.990> everywhere<00:10:41.529> take<00:10:42.010> everything 00:10:42.570 --> 00:10:42.580 align:start position:0% trying to be everywhere take everything 00:10:42.580 --> 00:10:44.430 align:start position:0% trying to be everywhere take everything that's<00:10:42.670> different<00:10:42.970> and<00:10:43.510> bring<00:10:43.810> it<00:10:43.930> in<00:10:44.050> so<00:10:44.410> that 00:10:44.430 --> 00:10:44.440 align:start position:0% that's different and bring it in so that 00:10:44.440 --> 00:10:48.660 align:start position:0% that's different and bring it in so that it<00:10:44.770> can<00:10:44.950> all<00:10:45.160> work<00:10:45.339> together<00:10:46.589> I'm<00:10:47.670> gonna 00:10:48.660 --> 00:10:48.670 align:start position:0% it can all work together I'm gonna 00:10:48.670 --> 00:10:50.430 align:start position:0% it can all work together I'm gonna follow<00:10:48.910> I'm<00:10:49.150> sorry<00:10:49.330> go<00:10:49.420> Jessica<00:10:49.660> just<00:10:50.050> pull<00:10:50.410> up 00:10:50.430 --> 00:10:50.440 align:start position:0% follow I'm sorry go Jessica just pull up 00:10:50.440 --> 00:10:51.570 align:start position:0% follow I'm sorry go Jessica just pull up here<00:10:50.740> this<00:10:50.920> this<00:10:51.339> kind 00:10:51.570 --> 00:10:51.580 align:start position:0% here this this kind 00:10:51.580 --> 00:10:55.200 align:start position:0% here this this kind a<00:10:52.080> spectrum<00:10:53.080> of<00:10:53.430> friction<00:10:54.430> and<00:10:54.580> variance<00:10:55.030> so 00:10:55.200 --> 00:10:55.210 align:start position:0% a spectrum of friction and variance so 00:10:55.210 --> 00:10:57.330 align:start position:0% a spectrum of friction and variance so there's<00:10:55.990> like<00:10:56.350> a<00:10:56.410> single<00:10:56.830> chain<00:10:57.070> where 00:10:57.330 --> 00:10:57.340 align:start position:0% there's like a single chain where 00:10:57.340 --> 00:10:59.750 align:start position:0% there's like a single chain where basically<00:10:57.760> the<00:10:57.880> friction<00:10:58.330> is<00:10:58.510> kind<00:10:59.170> of 00:10:59.750 --> 00:10:59.760 align:start position:0% basically the friction is kind of 00:10:59.760 --> 00:11:03.180 align:start position:0% basically the friction is kind of synchronous<00:11:00.760> you<00:11:00.910> know<00:11:01.680> cross<00:11:02.680> contract 00:11:03.180 --> 00:11:03.190 align:start position:0% synchronous you know cross contract 00:11:03.190 --> 00:11:04.650 align:start position:0% synchronous you know cross contract communication<00:11:03.790> that's<00:11:03.970> the<00:11:04.090> low<00:11:04.270> as<00:11:04.450> bare<00:11:04.630> as 00:11:04.650 --> 00:11:04.660 align:start position:0% communication that's the low as bare as 00:11:04.660 --> 00:11:07.260 align:start position:0% communication that's the low as bare as you<00:11:04.780> entry<00:11:05.020> but<00:11:05.290> still<00:11:06.160> still<00:11:06.730> there<00:11:06.970> is<00:11:07.120> some 00:11:07.260 --> 00:11:07.270 align:start position:0% you entry but still still there is some 00:11:07.270 --> 00:11:08.340 align:start position:0% you entry but still still there is some friction<00:11:07.420> and<00:11:07.780> this<00:11:07.870> is<00:11:07.990> why<00:11:08.080> we<00:11:08.200> have 00:11:08.340 --> 00:11:08.350 align:start position:0% friction and this is why we have 00:11:08.350 --> 00:11:10.800 align:start position:0% friction and this is why we have standards<00:11:08.800> like<00:11:08.980> ELC<00:11:09.430> 20<00:11:09.820> and<00:11:10.030> then<00:11:10.510> kind<00:11:10.750> of 00:11:10.800 --> 00:11:10.810 align:start position:0% standards like ELC 20 and then kind of 00:11:10.810 --> 00:11:12.260 align:start position:0% standards like ELC 20 and then kind of the<00:11:10.870> next<00:11:11.020> layer<00:11:11.320> of<00:11:11.470> friction<00:11:11.950> is 00:11:12.260 --> 00:11:12.270 align:start position:0% the next layer of friction is 00:11:12.270 --> 00:11:16.620 align:start position:0% the next layer of friction is homogeneous<00:11:13.270> shouting<00:11:13.750> and<00:11:14.680> then<00:11:15.330> the<00:11:16.330> next 00:11:16.620 --> 00:11:16.630 align:start position:0% homogeneous shouting and then the next 00:11:16.630 --> 00:11:18.870 align:start position:0% homogeneous shouting and then the next layer<00:11:16.780> of<00:11:16.960> friction<00:11:17.440> is<00:11:17.680> if<00:11:18.400> you<00:11:18.640> think<00:11:18.820> for 00:11:18.870 --> 00:11:18.880 align:start position:0% layer of friction is if you think for 00:11:18.880 --> 00:11:21.270 align:start position:0% layer of friction is if you think for example<00:11:18.970> of<00:11:19.240> polka<00:11:19.480> dots<00:11:19.780> where<00:11:20.080> they<00:11:20.200> have<00:11:20.410> a 00:11:21.270 --> 00:11:21.280 align:start position:0% example of polka dots where they have a 00:11:21.280 --> 00:11:24.060 align:start position:0% example of polka dots where they have a unified<00:11:22.410> unification<00:11:23.410> that<00:11:23.530> the<00:11:23.590> consensus 00:11:24.060 --> 00:11:24.070 align:start position:0% unified unification that the consensus 00:11:24.070 --> 00:11:26.850 align:start position:0% unified unification that the consensus layer<00:11:24.280> but<00:11:24.940> they<00:11:25.120> have<00:11:25.860> non-homogeneous 00:11:26.850 --> 00:11:26.860 align:start position:0% layer but they have non-homogeneous 00:11:26.860 --> 00:11:29.280 align:start position:0% layer but they have non-homogeneous Peres<00:11:27.130> chains<00:11:27.430> yes<00:11:27.760> and<00:11:27.940> then<00:11:28.450> the<00:11:28.780> next<00:11:29.110> step 00:11:29.280 --> 00:11:29.290 align:start position:0% Peres chains yes and then the next step 00:11:29.290 --> 00:11:34.770 align:start position:0% Peres chains yes and then the next step is<00:11:29.590> things<00:11:30.070> like<00:11:30.190> by<00:11:30.520> cosmos<00:11:30.940> and<00:11:31.150> Summa<00:11:33.780> so 00:11:34.770 --> 00:11:34.780 align:start position:0% is things like by cosmos and Summa so 00:11:34.780 --> 00:11:37.050 align:start position:0% is things like by cosmos and Summa so this<00:11:35.350> is<00:11:35.530> actually<00:11:36.040> a<00:11:36.070> great<00:11:36.370> transition<00:11:36.880> here 00:11:37.050 --> 00:11:37.060 align:start position:0% this is actually a great transition here 00:11:37.060 --> 00:11:44.520 align:start position:0% this is actually a great transition here the<00:11:39.870> public<00:11:40.870> projects<00:11:41.410> have<00:11:42.070> become<00:11:43.000> to<00:11:43.530> have 00:11:44.520 --> 00:11:44.530 align:start position:0% the public projects have become to have 00:11:44.530 --> 00:11:47.580 align:start position:0% the public projects have become to have have<00:11:44.740> began<00:11:45.640> to<00:11:45.910> over<00:11:46.330> time<00:11:46.540> emulate<00:11:47.470> each 00:11:47.580 --> 00:11:47.590 align:start position:0% have began to over time emulate each 00:11:47.590 --> 00:11:50.910 align:start position:0% have began to over time emulate each other<00:11:47.830> a<00:11:47.920> little<00:11:48.880> bit<00:11:49.120> more<00:11:49.180> and<00:11:49.660> I<00:11:50.470> think<00:11:50.620> that 00:11:50.910 --> 00:11:50.920 align:start position:0% other a little bit more and I think that 00:11:50.920 --> 00:11:53.970 align:start position:0% other a little bit more and I think that this<00:11:51.130> is<00:11:51.280> somewhat<00:11:52.090> true<00:11:52.420> as<00:11:52.720> well<00:11:53.020> for<00:11:53.620> some 00:11:53.970 --> 00:11:53.980 align:start position:0% this is somewhat true as well for some 00:11:53.980 --> 00:11:58.170 align:start position:0% this is somewhat true as well for some of<00:11:54.910> the<00:11:55.330> hydrologic<00:11:55.900> projects<00:11:56.380> I<00:11:57.250> don't 00:11:58.170 --> 00:11:58.180 align:start position:0% of the hydrologic projects I don't 00:11:58.180 --> 00:11:59.490 align:start position:0% of the hydrologic projects I don't believe<00:11:58.450> it<00:11:58.600> was<00:11:58.720> intended 00:11:59.490 --> 00:11:59.500 align:start position:0% believe it was intended 00:11:59.500 --> 00:12:01.770 align:start position:0% believe it was intended they've<00:11:59.830> just<00:11:59.970> seemed<00:12:00.970> to<00:12:01.180> have<00:12:01.300> found<00:12:01.570> the 00:12:01.770 --> 00:12:01.780 align:start position:0% they've just seemed to have found the 00:12:01.780 --> 00:12:03.990 align:start position:0% they've just seemed to have found the same<00:12:02.020> design<00:12:02.470> framework<00:12:02.890> as<00:12:03.370> having 00:12:03.990 --> 00:12:04.000 align:start position:0% same design framework as having 00:12:04.000 --> 00:12:06.900 align:start position:0% same design framework as having generally<00:12:04.600> represented<00:12:05.230> a<00:12:05.520> correct<00:12:06.520> answer 00:12:06.900 --> 00:12:06.910 align:start position:0% generally represented a correct answer 00:12:06.910 --> 00:12:08.820 align:start position:0% generally represented a correct answer in<00:12:07.180> some<00:12:07.480> sense 00:12:08.820 --> 00:12:08.830 align:start position:0% in some sense 00:12:08.830 --> 00:12:14.220 align:start position:0% in some sense have<00:12:09.460> you<00:12:09.670> seen<00:12:12.420> you<00:12:13.420> mentioned<00:12:13.750> one<00:12:13.930> large 00:12:14.220 --> 00:12:14.230 align:start position:0% have you seen you mentioned one large 00:12:14.230 --> 00:12:16.590 align:start position:0% have you seen you mentioned one large coming<00:12:14.680> project<00:12:15.100> in<00:12:15.250> the<00:12:15.370> space<00:12:15.610> cosmos<00:12:16.390> as 00:12:16.590 --> 00:12:16.600 align:start position:0% coming project in the space cosmos as 00:12:16.600 --> 00:12:19.890 align:start position:0% coming project in the space cosmos as well<00:12:16.950> polka<00:12:17.950> dot<00:12:18.130> cosmos<00:12:18.750> somebody<00:12:19.750> spoke 00:12:19.890 --> 00:12:19.900 align:start position:0% well polka dot cosmos somebody spoke 00:12:19.900 --> 00:12:21.930 align:start position:0% well polka dot cosmos somebody spoke backstage<00:12:20.380> to<00:12:20.770> work<00:12:21.280> that<00:12:21.430> I<00:12:21.490> which<00:12:21.670> Kay<00:12:21.850> has 00:12:21.930 --> 00:12:21.940 align:start position:0% backstage to work that I which Kay has 00:12:21.940 --> 00:12:24.030 align:start position:0% backstage to work that I which Kay has done<00:12:22.090> also<00:12:22.390> in<00:12:22.540> a<00:12:22.600> similar<00:12:22.750> area<00:12:23.050> and<00:12:23.350> of 00:12:24.030 --> 00:12:24.040 align:start position:0% done also in a similar area and of 00:12:24.040 --> 00:12:25.680 align:start position:0% done also in a similar area and of course<00:12:24.250> east<00:12:24.400> to<00:12:24.520> z<00:12:24.580> through<00:12:24.970> is<00:12:25.060> now<00:12:25.180> working 00:12:25.680 --> 00:12:25.690 align:start position:0% course east to z through is now working 00:12:25.690 --> 00:12:28.230 align:start position:0% course east to z through is now working within<00:12:25.840> a<00:12:25.990> framework<00:12:26.170> of<00:12:27.090> homogeneous<00:12:28.090> rather 00:12:28.230 --> 00:12:28.240 align:start position:0% within a framework of homogeneous rather 00:12:28.240 --> 00:12:29.550 align:start position:0% within a framework of homogeneous rather than<00:12:28.360> the<00:12:28.450> heterogeneous<00:12:28.810> but<00:12:29.170> still<00:12:29.350> the 00:12:29.550 --> 00:12:29.560 align:start position:0% than the heterogeneous but still the 00:12:29.560 --> 00:12:33.780 align:start position:0% than the heterogeneous but still the same<00:12:29.770> approach<00:12:30.720> so<00:12:31.720> I<00:12:32.280> shall<00:12:33.280> run<00:12:33.490> back<00:12:33.670> to 00:12:33.780 --> 00:12:33.790 align:start position:0% same approach so I shall run back to 00:12:33.790 --> 00:12:36.300 align:start position:0% same approach so I shall run back to Brian<00:12:34.030> with<00:12:34.270> this<00:12:34.450> so<00:12:35.440> to<00:12:35.500> sort<00:12:35.860> of<00:12:35.950> round<00:12:36.130> it 00:12:36.300 --> 00:12:36.310 align:start position:0% Brian with this so to sort of round it 00:12:36.310 --> 00:12:38.220 align:start position:0% Brian with this so to sort of round it out<00:12:36.370> what<00:12:36.850> our<00:12:36.940> enterprise<00:12:37.300> is<00:12:37.510> looking<00:12:37.900> for 00:12:38.220 --> 00:12:38.230 align:start position:0% out what our enterprise is looking for 00:12:38.230 --> 00:12:41.940 align:start position:0% out what our enterprise is looking for in<00:12:39.810> obviously<00:12:40.810> looking<00:12:41.440> back<00:12:41.560> to<00:12:41.710> the<00:12:41.800> base 00:12:41.940 --> 00:12:41.950 align:start position:0% in obviously looking back to the base 00:12:41.950 --> 00:12:43.980 align:start position:0% in obviously looking back to the base question<00:12:42.490> of<00:12:42.700> why<00:12:42.910> not<00:12:43.090> use<00:12:43.210> a<00:12:43.240> server<00:12:43.600> there 00:12:43.980 --> 00:12:43.990 align:start position:0% question of why not use a server there 00:12:43.990 --> 00:12:45.330 align:start position:0% question of why not use a server there are<00:12:44.080> certain<00:12:44.350> things<00:12:44.380> that<00:12:44.890> black<00:12:45.130> chains 00:12:45.330 --> 00:12:45.340 align:start position:0% are certain things that black chains 00:12:45.340 --> 00:12:47.550 align:start position:0% are certain things that black chains offer<00:12:45.550> right<00:12:46.210> and<00:12:46.360> a<00:12:46.510> lot<00:12:46.660> of<00:12:46.690> that<00:12:46.900> is<00:12:47.140> the 00:12:47.550 --> 00:12:47.560 align:start position:0% offer right and a lot of that is the 00:12:47.560 --> 00:12:48.900 align:start position:0% offer right and a lot of that is the openness<00:12:47.920> the<00:12:48.040> permission<00:12:48.430> lessness<00:12:48.610> it's 00:12:48.900 --> 00:12:48.910 align:start position:0% openness the permission lessness it's 00:12:48.910 --> 00:12:52.410 align:start position:0% openness the permission lessness it's just<00:12:49.120> doing<00:12:49.330> it<00:12:49.510> with<00:12:49.600> the<00:12:49.720> same<00:12:49.930> level<00:12:50.140> of<00:12:51.420> the 00:12:52.410 --> 00:12:52.420 align:start position:0% just doing it with the same level of the 00:12:52.420 --> 00:12:53.850 align:start position:0% just doing it with the same level of the same<00:12:52.570> feature<00:12:52.780> set<00:12:52.870> the<00:12:53.200> same<00:12:53.350> capability 00:12:53.850 --> 00:12:53.860 align:start position:0% same feature set the same capability 00:12:53.860 --> 00:12:55.920 align:start position:0% same feature set the same capability throughput<00:12:54.520> what<00:12:55.360> our<00:12:55.450> enterprise<00:12:55.810> is 00:12:55.920 --> 00:12:55.930 align:start position:0% throughput what our enterprise is 00:12:55.930 --> 00:12:57.330 align:start position:0% throughput what our enterprise is looking<00:12:56.140> for<00:12:56.290> specifically<00:12:56.860> that 00:12:57.330 --> 00:12:57.340 align:start position:0% looking for specifically that 00:12:57.340 --> 00:12:58.830 align:start position:0% looking for specifically that permissionless<00:12:58.030> systems<00:12:58.420> haven't<00:12:58.720> offered 00:12:58.830 --> 00:12:58.840 align:start position:0% permissionless systems haven't offered 00:12:58.840 --> 00:13:01.020 align:start position:0% permissionless systems haven't offered and<00:12:59.140> do<00:12:59.530> they<00:12:59.650> see<00:12:59.710> answers<00:13:00.340> in<00:13:00.580> these<00:13:00.700> design 00:13:01.020 --> 00:13:01.030 align:start position:0% and do they see answers in these design 00:13:01.030 --> 00:13:03.550 align:start position:0% and do they see answers in these design frameworks<00:13:01.420> so<00:13:02.380> Joe<00:13:02.620> actually<00:13:02.800> was<00:13:03.070> your 00:13:03.550 --> 00:13:03.560 align:start position:0% frameworks so Joe actually was your 00:13:03.560 --> 00:13:05.980 align:start position:0% frameworks so Joe actually was your just<00:13:04.220> before<00:13:04.519> our<00:13:04.550> session<00:13:05.060> talking<00:13:05.660> about 00:13:05.980 --> 00:13:05.990 align:start position:0% just before our session talking about 00:13:05.990 --> 00:13:07.869 align:start position:0% just before our session talking about his<00:13:06.499> view<00:13:06.769> that<00:13:07.009> you<00:13:07.279> know<00:13:07.370> the<00:13:07.490> world<00:13:07.639> will 00:13:07.869 --> 00:13:07.879 align:start position:0% his view that you know the world will 00:13:07.879 --> 00:13:10.179 align:start position:0% his view that you know the world will have<00:13:08.209> lots<00:13:09.079> of<00:13:09.139> different<00:13:09.410> Ledger's<00:13:09.829> some<00:13:10.129> of 00:13:10.179 --> 00:13:10.189 align:start position:0% have lots of different Ledger's some of 00:13:10.189 --> 00:13:11.559 align:start position:0% have lots of different Ledger's some of them<00:13:10.310> very<00:13:10.490> public<00:13:10.850> facing<00:13:11.209> and<00:13:11.329> some<00:13:11.420> of<00:13:11.480> them 00:13:11.559 --> 00:13:11.569 align:start position:0% them very public facing and some of them 00:13:11.569 --> 00:13:14.559 align:start position:0% them very public facing and some of them fairly<00:13:12.170> private<00:13:12.529> amongst<00:13:13.480> collections<00:13:14.480> of 00:13:14.559 --> 00:13:14.569 align:start position:0% fairly private amongst collections of 00:13:14.569 --> 00:13:17.319 align:start position:0% fairly private amongst collections of organizations<00:13:15.199> right<00:13:15.410> and<00:13:15.649> and<00:13:16.279> that's<00:13:16.430> for<00:13:17.300> a 00:13:17.319 --> 00:13:17.329 align:start position:0% organizations right and and that's for a 00:13:17.329 --> 00:13:18.910 align:start position:0% organizations right and and that's for a number<00:13:17.569> of<00:13:17.600> reasons<00:13:17.839> some<00:13:18.259> of<00:13:18.319> them<00:13:18.439> technical 00:13:18.910 --> 00:13:18.920 align:start position:0% number of reasons some of them technical 00:13:18.920 --> 00:13:20.379 align:start position:0% number of reasons some of them technical some<00:13:19.160> of<00:13:19.279> them<00:13:19.399> kind<00:13:19.579> of<00:13:19.699> business<00:13:19.999> oriented 00:13:20.379 --> 00:13:20.389 align:start position:0% some of them kind of business oriented 00:13:20.389 --> 00:13:23.199 align:start position:0% some of them kind of business oriented the<00:13:21.110> one<00:13:21.319> the<00:13:21.680> the<00:13:21.889> answer<00:13:22.249> the<00:13:22.490> the<00:13:22.850> technical 00:13:23.199 --> 00:13:23.209 align:start position:0% the one the the answer the the technical 00:13:23.209 --> 00:13:25.030 align:start position:0% the one the the answer the the technical reasons<00:13:23.689> may<00:13:23.870> fade<00:13:24.139> over<00:13:24.170> time<00:13:24.410> I<00:13:24.620> mean<00:13:24.860> right 00:13:25.030 --> 00:13:25.040 align:start position:0% reasons may fade over time I mean right 00:13:25.040 --> 00:13:26.999 align:start position:0% reasons may fade over time I mean right now<00:13:25.069> I'd<00:13:25.790> say<00:13:25.970> there's<00:13:26.149> an<00:13:26.240> advantage<00:13:26.569> to 00:13:26.999 --> 00:13:27.009 align:start position:0% now I'd say there's an advantage to 00:13:27.009 --> 00:13:29.230 align:start position:0% now I'd say there's an advantage to permission<00:13:28.009> villagers<00:13:28.579> which<00:13:28.759> actually<00:13:29.059> can 00:13:29.230 --> 00:13:29.240 align:start position:0% permission villagers which actually can 00:13:29.240 --> 00:13:30.910 align:start position:0% permission villagers which actually can be<00:13:29.300> public<00:13:29.689> facing<00:13:30.079> for<00:13:30.230> example<00:13:30.559> the 00:13:30.910 --> 00:13:30.920 align:start position:0% be public facing for example the 00:13:30.920 --> 00:13:32.799 align:start position:0% be public facing for example the sovereign<00:13:31.249> foundation<00:13:31.790> is<00:13:31.939> using<00:13:32.329> hyper 00:13:32.799 --> 00:13:32.809 align:start position:0% sovereign foundation is using hyper 00:13:32.809 --> 00:13:34.449 align:start position:0% sovereign foundation is using hyper ledger<00:13:33.110> indeed<00:13:33.470> to<00:13:33.620> build<00:13:33.769> a<00:13:33.860> public<00:13:34.249> facing 00:13:34.449 --> 00:13:34.459 align:start position:0% ledger indeed to build a public facing 00:13:34.459 --> 00:13:36.489 align:start position:0% ledger indeed to build a public facing but<00:13:34.879> permissioned<00:13:35.480> blockchain<00:13:36.199> ledger 00:13:36.489 --> 00:13:36.499 align:start position:0% but permissioned blockchain ledger 00:13:36.499 --> 00:13:38.559 align:start position:0% but permissioned blockchain ledger around<00:13:36.829> digital<00:13:37.069> identity<00:13:37.670> right<00:13:37.939> and 00:13:38.559 --> 00:13:38.569 align:start position:0% around digital identity right and 00:13:38.569 --> 00:13:39.850 align:start position:0% around digital identity right and there's<00:13:38.749> all<00:13:38.930> sorts<00:13:39.170> of<00:13:39.199> things<00:13:39.410> in<00:13:39.589> India 00:13:39.850 --> 00:13:39.860 align:start position:0% there's all sorts of things in India 00:13:39.860 --> 00:13:41.530 align:start position:0% there's all sorts of things in India that<00:13:39.980> are<00:13:40.069> highly<00:13:40.370> tuned<00:13:40.610> to<00:13:41.120> the<00:13:41.329> pairwise 00:13:41.530 --> 00:13:41.540 align:start position:0% that are highly tuned to the pairwise 00:13:41.540 --> 00:13:43.689 align:start position:0% that are highly tuned to the pairwise identifier<00:13:42.230> approach<00:13:42.649> that<00:13:42.889> they<00:13:42.980> take<00:13:43.009> that 00:13:43.689 --> 00:13:43.699 align:start position:0% identifier approach that they take that 00:13:43.699 --> 00:13:44.980 align:start position:0% identifier approach that they take that from<00:13:44.059> everything<00:13:44.240> from<00:13:44.449> the<00:13:44.509> consensus 00:13:44.980 --> 00:13:44.990 align:start position:0% from everything from the consensus 00:13:44.990 --> 00:13:46.749 align:start position:0% from everything from the consensus mechanism<00:13:45.499> to<00:13:45.680> the<00:13:45.800> data<00:13:45.980> structure<00:13:46.279> on<00:13:46.490> disk 00:13:46.749 --> 00:13:46.759 align:start position:0% mechanism to the data structure on disk 00:13:46.759 --> 00:13:50.079 align:start position:0% mechanism to the data structure on disk to<00:13:47.029> to<00:13:47.300> everything<00:13:48.009> but<00:13:49.009> uh<00:13:49.040> but<00:13:49.550> so<00:13:49.939> there's 00:13:50.079 --> 00:13:50.089 align:start position:0% to to everything but uh but so there's 00:13:50.089 --> 00:13:51.340 align:start position:0% to to everything but uh but so there's some<00:13:50.300> performance<00:13:50.809> characteristics<00:13:51.259> that 00:13:51.340 --> 00:13:51.350 align:start position:0% some performance characteristics that 00:13:51.350 --> 00:13:53.110 align:start position:0% some performance characteristics that perhaps<00:13:51.889> they<00:13:52.189> have<00:13:52.370> to<00:13:52.399> architecture 00:13:53.110 --> 00:13:53.120 align:start position:0% perhaps they have to architecture 00:13:53.120 --> 00:13:55.090 align:start position:0% perhaps they have to architecture perhaps<00:13:53.389> other<00:13:53.600> architectures<00:13:54.259> that<00:13:54.410> arrived 00:13:55.090 --> 00:13:55.100 align:start position:0% perhaps other architectures that arrived 00:13:55.100 --> 00:13:57.610 align:start position:0% perhaps other architectures that arrived close<00:13:56.059> the<00:13:56.209> gap<00:13:56.360> on<00:13:56.540> some<00:13:56.779> of<00:13:56.870> those<00:13:56.959> from 00:13:57.610 --> 00:13:57.620 align:start position:0% close the gap on some of those from 00:13:57.620 --> 00:13:59.379 align:start position:0% close the gap on some of those from performance<00:13:58.309> and<00:13:58.519> and<00:13:58.759> and<00:13:58.970> other<00:13:59.059> kind<00:13:59.329> of 00:13:59.379 --> 00:13:59.389 align:start position:0% performance and and and other kind of 00:13:59.389 --> 00:14:00.579 align:start position:0% performance and and and other kind of points<00:13:59.600> of<00:13:59.660> view<00:13:59.720> but<00:14:00.199> I<00:14:00.230> think<00:14:00.379> there's<00:14:00.529> still 00:14:00.579 --> 00:14:00.589 align:start position:0% points of view but I think there's still 00:14:00.589 --> 00:14:01.989 align:start position:0% points of view but I think there's still going<00:14:00.769> to<00:14:00.829> be<00:14:00.889> some<00:14:01.100> business<00:14:01.249> constraints<00:14:01.910> so 00:14:01.989 --> 00:14:01.999 align:start position:0% going to be some business constraints so 00:14:01.999 --> 00:14:03.999 align:start position:0% going to be some business constraints so for<00:14:02.180> example<00:14:02.600> being<00:14:03.050> able<00:14:03.199> to<00:14:03.350> say<00:14:03.559> that<00:14:03.800> all 00:14:03.999 --> 00:14:04.009 align:start position:0% for example being able to say that all 00:14:04.009 --> 00:14:05.889 align:start position:0% for example being able to say that all the<00:14:04.220> nodes<00:14:04.370> on<00:14:04.550> this<00:14:04.670> network<00:14:04.879> agree<00:14:05.660> to<00:14:05.779> be 00:14:05.889 --> 00:14:05.899 align:start position:0% the nodes on this network agree to be 00:14:05.899 --> 00:14:08.619 align:start position:0% the nodes on this network agree to be bound<00:14:05.930> by<00:14:06.199> GDP<00:14:06.680> are<00:14:06.829> right<00:14:07.339> or<00:14:08.059> agree<00:14:08.420> to<00:14:08.449> be 00:14:08.619 --> 00:14:08.629 align:start position:0% bound by GDP are right or agree to be 00:14:08.629 --> 00:14:10.360 align:start position:0% bound by GDP are right or agree to be bound<00:14:08.660> by<00:14:09.079> saying<00:14:09.379> hey<00:14:09.559> we're<00:14:09.949> going<00:14:10.100> to<00:14:10.160> put 00:14:10.360 --> 00:14:10.370 align:start position:0% bound by saying hey we're going to put 00:14:10.370 --> 00:14:12.460 align:start position:0% bound by saying hey we're going to put text<00:14:11.029> on<00:14:11.120> this<00:14:11.209> network<00:14:11.569> that<00:14:11.600> for<00:14:12.410> the 00:14:12.460 --> 00:14:12.470 align:start position:0% text on this network that for the 00:14:12.470 --> 00:14:14.439 align:start position:0% text on this network that for the purpose<00:14:12.800> of<00:14:12.920> efficiency<00:14:13.790> we're<00:14:14.029> going<00:14:14.269> to 00:14:14.439 --> 00:14:14.449 align:start position:0% purpose of efficiency we're going to 00:14:14.449 --> 00:14:16.299 align:start position:0% purpose of efficiency we're going to begin<00:14:14.629> crypt<00:14:14.930> minimally<00:14:15.350> and<00:14:15.529> if<00:14:15.889> you<00:14:16.009> try<00:14:16.279> to 00:14:16.299 --> 00:14:16.309 align:start position:0% begin crypt minimally and if you try to 00:14:16.309 --> 00:14:18.490 align:start position:0% begin crypt minimally and if you try to decrypt<00:14:16.730> it<00:14:16.819> or<00:14:16.939> you<00:14:17.029> try<00:14:17.209> to<00:14:17.269> discover<00:14:17.689> some 00:14:18.490 --> 00:14:18.500 align:start position:0% decrypt it or you try to discover some 00:14:18.500 --> 00:14:19.540 align:start position:0% decrypt it or you try to discover some data<00:14:18.709> that<00:14:18.800> you're<00:14:19.009> not<00:14:19.160> supposed<00:14:19.430> to<00:14:19.459> have 00:14:19.540 --> 00:14:19.550 align:start position:0% data that you're not supposed to have 00:14:19.550 --> 00:14:21.490 align:start position:0% data that you're not supposed to have access<00:14:19.699> to<00:14:19.939> then<00:14:20.600> there's<00:14:21.079> a<00:14:21.170> legal 00:14:21.490 --> 00:14:21.500 align:start position:0% access to then there's a legal 00:14:21.500 --> 00:14:23.079 align:start position:0% access to then there's a legal constraint<00:14:21.949> that<00:14:22.160> kind<00:14:22.339> of<00:14:22.370> constrains<00:14:22.879> you 00:14:23.079 --> 00:14:23.089 align:start position:0% constraint that kind of constrains you 00:14:23.089 --> 00:14:24.910 align:start position:0% constraint that kind of constrains you it<00:14:23.180> that<00:14:23.209> you<00:14:23.389> assign<00:14:23.689> a<00:14:23.720> contract<00:14:24.290> and<00:14:24.439> agree 00:14:24.910 --> 00:14:24.920 align:start position:0% it that you assign a contract and agree 00:14:24.920 --> 00:14:26.860 align:start position:0% it that you assign a contract and agree I'm<00:14:25.069> not<00:14:25.399> going<00:14:25.639> to<00:14:25.759> divulge<00:14:26.000> this<00:14:26.269> data<00:14:26.509> right 00:14:26.860 --> 00:14:26.870 align:start position:0% I'm not going to divulge this data right 00:14:26.870 --> 00:14:28.840 align:start position:0% I'm not going to divulge this data right or<00:14:27.589> or<00:14:27.949> other<00:14:28.160> types<00:14:28.459> of<00:14:28.610> business 00:14:28.840 --> 00:14:28.850 align:start position:0% or or other types of business 00:14:28.850 --> 00:14:30.189 align:start position:0% or or other types of business arrangements<00:14:29.329> that<00:14:29.389> are<00:14:29.509> actually<00:14:29.779> better<00:14:29.959> to 00:14:30.189 --> 00:14:30.199 align:start position:0% arrangements that are actually better to 00:14:30.199 --> 00:14:32.650 align:start position:0% arrangements that are actually better to express<00:14:30.589> in<00:14:31.129> human<00:14:31.459> contract<00:14:31.939> form<00:14:32.209> between 00:14:32.650 --> 00:14:32.660 align:start position:0% express in human contract form between 00:14:32.660 --> 00:14:35.249 align:start position:0% express in human contract form between the<00:14:32.750> parties<00:14:33.079> around<00:14:33.290> some<00:14:33.709> common<00:14:34.069> kind<00:14:34.759> of<00:14:34.819> a 00:14:35.249 --> 00:14:35.259 align:start position:0% the parties around some common kind of a 00:14:35.259 --> 00:14:38.139 align:start position:0% the parties around some common kind of a kind<00:14:36.259> of<00:14:36.379> governance<00:14:36.709> entity<00:14:37.069> than<00:14:37.759> then 00:14:38.139 --> 00:14:38.149 align:start position:0% kind of governance entity than then 00:14:38.149 --> 00:14:39.639 align:start position:0% kind of governance entity than then through<00:14:38.449> purely<00:14:38.899> through<00:14:39.050> smart<00:14:39.290> contract 00:14:39.639 --> 00:14:39.649 align:start position:0% through purely through smart contract 00:14:39.649 --> 00:14:41.499 align:start position:0% through purely through smart contract mechanisms<00:14:40.160> again<00:14:40.670> those<00:14:40.850> might<00:14:41.059> fade<00:14:41.269> away 00:14:41.499 --> 00:14:41.509 align:start position:0% mechanisms again those might fade away 00:14:41.509 --> 00:14:43.210 align:start position:0% mechanisms again those might fade away as<00:14:41.839> some<00:14:42.079> of<00:14:42.199> the<00:14:42.290> ability<00:14:42.980> to<00:14:43.009> manage 00:14:43.210 --> 00:14:43.220 align:start position:0% as some of the ability to manage 00:14:43.220 --> 00:14:44.889 align:start position:0% as some of the ability to manage confidential<00:14:43.879> data<00:14:44.029> and<00:14:44.240> things<00:14:44.449> get<00:14:44.660> better 00:14:44.889 --> 00:14:44.899 align:start position:0% confidential data and things get better 00:14:44.899 --> 00:14:46.900 align:start position:0% confidential data and things get better and<00:14:45.079> better<00:14:45.170> on<00:14:45.410> the<00:14:45.500> public<00:14:45.800> Ledger's<00:14:46.100> but 00:14:46.900 --> 00:14:46.910 align:start position:0% and better on the public Ledger's but 00:14:46.910 --> 00:14:48.939 align:start position:0% and better on the public Ledger's but but<00:14:47.360> there's<00:14:47.569> a<00:14:47.660> there's<00:14:48.379> a<00:14:48.470> spectrum<00:14:48.679> here 00:14:48.939 --> 00:14:48.949 align:start position:0% but there's a there's a spectrum here 00:14:48.949 --> 00:14:50.350 align:start position:0% but there's a there's a spectrum here there's<00:14:49.129> trade-offs<00:14:49.399> and<00:14:49.610> I<00:14:49.670> think<00:14:49.879> we<00:14:50.209> are 00:14:50.350 --> 00:14:50.360 align:start position:0% there's trade-offs and I think we are 00:14:50.360 --> 00:14:52.360 align:start position:0% there's trade-offs and I think we are going<00:14:50.629> to<00:14:50.750> see<00:14:50.929> this<00:14:51.139> heterogeneous<00:14:51.649> world<00:14:52.040> of 00:14:52.360 --> 00:14:52.370 align:start position:0% going to see this heterogeneous world of 00:14:52.370 --> 00:14:55.210 align:start position:0% going to see this heterogeneous world of public<00:14:52.990> of<00:14:53.990> unpermitted<00:14:54.470> and<00:14:54.800> permissioned 00:14:55.210 --> 00:14:55.220 align:start position:0% public of unpermitted and permissioned 00:14:55.220 --> 00:14:57.780 align:start position:0% public of unpermitted and permissioned of<00:14:55.639> public<00:14:56.059> facing<00:14:56.509> and<00:14:56.779> private<00:14:57.290> facing 00:14:57.780 --> 00:14:57.790 align:start position:0% of public facing and private facing 00:14:57.790 --> 00:14:59.259 align:start position:0% of public facing and private facing blockchains<00:14:58.790> you're<00:14:58.939> kind<00:14:59.059> of<00:14:59.120> two 00:14:59.259 --> 00:14:59.269 align:start position:0% blockchains you're kind of two 00:14:59.269 --> 00:15:01.569 align:start position:0% blockchains you're kind of two independent<00:14:59.600> dimensions<00:15:00.319> for<00:15:01.129> for<00:15:01.519> the 00:15:01.569 --> 00:15:01.579 align:start position:0% independent dimensions for for the 00:15:01.579 --> 00:15:02.590 align:start position:0% independent dimensions for for the indefinite<00:15:01.790> teacher<00:15:02.179> I<00:15:02.240> don't<00:15:02.329> know<00:15:02.449> that 00:15:02.590 --> 00:15:02.600 align:start position:0% indefinite teacher I don't know that 00:15:02.600 --> 00:15:04.360 align:start position:0% indefinite teacher I don't know that that<00:15:02.689> ever<00:15:02.839> converges<00:15:03.290> on<00:15:03.379> one<00:15:03.559> so<00:15:03.769> a<00:15:03.800> question 00:15:04.360 --> 00:15:04.370 align:start position:0% that ever converges on one so a question 00:15:04.370 --> 00:15:06.720 align:start position:0% that ever converges on one so a question for<00:15:04.699> both<00:15:04.850> James<00:15:05.149> and<00:15:05.269> Justin<00:15:05.480> -<00:15:06.110> James<00:15:06.350> first 00:15:06.720 --> 00:15:06.730 align:start position:0% for both James and Justin - James first 00:15:06.730 --> 00:15:09.280 align:start position:0% for both James and Justin - James first interoperability<00:15:07.730> with<00:15:08.029> private<00:15:08.389> chains<00:15:08.629> or 00:15:09.280 --> 00:15:09.290 align:start position:0% interoperability with private chains or 00:15:09.290 --> 00:15:11.650 align:start position:0% interoperability with private chains or permission<00:15:09.679> chains<00:15:09.949> is<00:15:10.910> it<00:15:11.240> is<00:15:11.449> it 00:15:11.650 --> 00:15:11.660 align:start position:0% permission chains is it is it 00:15:11.660 --> 00:15:13.540 align:start position:0% permission chains is it is it functionally<00:15:12.259> viable<00:15:12.980> is<00:15:13.189> it 00:15:13.540 --> 00:15:13.550 align:start position:0% functionally viable is it 00:15:13.550 --> 00:15:15.670 align:start position:0% functionally viable is it ooh<00:15:13.580> a<00:15:13.670> road<00:15:13.910> or<00:15:14.240> are<00:15:15.050> there<00:15:15.230> constraints 00:15:15.670 --> 00:15:15.680 align:start position:0% ooh a road or are there constraints 00:15:15.680 --> 00:15:18.280 align:start position:0% ooh a road or are there constraints there<00:15:16.540> you<00:15:17.540> know<00:15:17.630> typically<00:15:18.080> the<00:15:18.200> way 00:15:18.280 --> 00:15:18.290 align:start position:0% there you know typically the way 00:15:18.290 --> 00:15:19.840 align:start position:0% there you know typically the way interoperability<00:15:18.890> works<00:15:19.310> is<00:15:19.550> that<00:15:19.700> we<00:15:19.820> have 00:15:19.840 --> 00:15:19.850 align:start position:0% interoperability works is that we have 00:15:19.850 --> 00:15:22.060 align:start position:0% interoperability works is that we have one<00:15:20.210> chain<00:15:20.510> checking<00:15:21.200> the<00:15:21.320> consensus<00:15:21.860> process 00:15:22.060 --> 00:15:22.070 align:start position:0% one chain checking the consensus process 00:15:22.070 --> 00:15:24.580 align:start position:0% one chain checking the consensus process of<00:15:22.490> another<00:15:22.760> so<00:15:23.480> when<00:15:23.720> you<00:15:23.900> want<00:15:24.170> to<00:15:24.260> have 00:15:24.580 --> 00:15:24.590 align:start position:0% of another so when you want to have 00:15:24.590 --> 00:15:26.380 align:start position:0% of another so when you want to have aetherium<00:15:25.100> inspect<00:15:25.490> Bitcoin<00:15:25.790> transactions 00:15:26.380 --> 00:15:26.390 align:start position:0% aetherium inspect Bitcoin transactions 00:15:26.390 --> 00:15:27.940 align:start position:0% aetherium inspect Bitcoin transactions you<00:15:26.540> have<00:15:26.600> to<00:15:26.750> actually<00:15:26.900> import<00:15:27.410> Bitcoin 00:15:27.940 --> 00:15:27.950 align:start position:0% you have to actually import Bitcoin 00:15:27.950 --> 00:15:30.480 align:start position:0% you have to actually import Bitcoin headers<00:15:28.310> into<00:15:28.730> a<00:15:28.760> smart<00:15:29.090> contract<00:15:29.410> so 00:15:30.480 --> 00:15:30.490 align:start position:0% headers into a smart contract so 00:15:30.490 --> 00:15:32.710 align:start position:0% headers into a smart contract so obviously<00:15:31.490> we<00:15:31.700> can<00:15:31.880> do<00:15:32.000> that<00:15:32.150> within<00:15:32.480> a 00:15:32.710 --> 00:15:32.720 align:start position:0% obviously we can do that within a 00:15:32.720 --> 00:15:34.690 align:start position:0% obviously we can do that within a private<00:15:32.960> chain<00:15:33.320> validate<00:15:34.040> a<00:15:34.070> public<00:15:34.460> change 00:15:34.690 --> 00:15:34.700 align:start position:0% private chain validate a public change 00:15:34.700 --> 00:15:36.940 align:start position:0% private chain validate a public change consensus<00:15:35.330> that's<00:15:35.660> like<00:15:36.020> trivially<00:15:36.560> easy<00:15:36.590> to 00:15:36.940 --> 00:15:36.950 align:start position:0% consensus that's like trivially easy to 00:15:36.950 --> 00:15:40.060 align:start position:0% consensus that's like trivially easy to do<00:15:37.330> the<00:15:38.330> other<00:15:38.540> way<00:15:38.720> around<00:15:39.110> we<00:15:39.620> can't<00:15:39.860> really 00:15:40.060 --> 00:15:40.070 align:start position:0% do the other way around we can't really 00:15:40.070 --> 00:15:42.520 align:start position:0% do the other way around we can't really do<00:15:40.340> with<00:15:40.670> any<00:15:40.880> sort<00:15:41.000> of<00:15:41.300> security<00:15:41.720> for<00:15:42.500> a 00:15:42.520 --> 00:15:42.530 align:start position:0% do with any sort of security for a 00:15:42.530 --> 00:15:45.700 align:start position:0% do with any sort of security for a permission<00:15:42.920> chain<00:15:43.600> the<00:15:44.600> consensus<00:15:45.110> mechanism 00:15:45.700 --> 00:15:45.710 align:start position:0% permission chain the consensus mechanism 00:15:45.710 --> 00:15:48.220 align:start position:0% permission chain the consensus mechanism is<00:15:45.920> usually<00:15:46.640> a<00:15:46.670> federation<00:15:47.450> of<00:15:47.600> signers<00:15:47.990> that 00:15:48.220 --> 00:15:48.230 align:start position:0% is usually a federation of signers that 00:15:48.230 --> 00:15:50.500 align:start position:0% is usually a federation of signers that can<00:15:48.410> do<00:15:48.560> whatever<00:15:48.770> they<00:15:49.040> want<00:15:49.070> and<00:15:49.700> so 00:15:50.500 --> 00:15:50.510 align:start position:0% can do whatever they want and so 00:15:50.510 --> 00:15:53.080 align:start position:0% can do whatever they want and so validating<00:15:51.350> that<00:15:51.380> on<00:15:51.920> a<00:15:51.980> public<00:15:52.400> chain<00:15:52.820> has 00:15:53.080 --> 00:15:53.090 align:start position:0% validating that on a public chain has 00:15:53.090 --> 00:15:54.850 align:start position:0% validating that on a public chain has essentially<00:15:53.600> the<00:15:53.720> same<00:15:53.900> security<00:15:54.230> model<00:15:54.680> as 00:15:54.850 --> 00:15:54.860 align:start position:0% essentially the same security model as 00:15:54.860 --> 00:15:57.940 align:start position:0% essentially the same security model as an<00:15:55.100> Oracle<00:15:55.490> is<00:15:55.850> we're<00:15:56.540> importing<00:15:56.900> you<00:15:57.890> know 00:15:57.940 --> 00:15:57.950 align:start position:0% an Oracle is we're importing you know 00:15:57.950 --> 00:15:59.830 align:start position:0% an Oracle is we're importing you know information<00:15:58.250> about<00:15:58.610> this<00:15:58.850> chain<00:15:59.180> but<00:15:59.660> we're 00:15:59.830 --> 00:15:59.840 align:start position:0% information about this chain but we're 00:15:59.840 --> 00:16:02.230 align:start position:0% information about this chain but we're just<00:15:59.870> trusting<00:16:00.350> the<00:16:00.770> signers<00:16:01.190> to<00:16:01.400> do<00:16:01.550> it<00:16:01.700> so 00:16:02.230 --> 00:16:02.240 align:start position:0% just trusting the signers to do it so 00:16:02.240 --> 00:16:04.120 align:start position:0% just trusting the signers to do it so this<00:16:02.390> may<00:16:02.570> be<00:16:02.630> useful<00:16:03.110> in<00:16:03.200> some<00:16:03.380> cases<00:16:03.440> but<00:16:04.070> I 00:16:04.120 --> 00:16:04.130 align:start position:0% this may be useful in some cases but I 00:16:04.130 --> 00:16:06.340 align:start position:0% this may be useful in some cases but I would<00:16:04.370> suspect<00:16:04.670> that<00:16:05.390> we<00:16:05.810> see<00:16:06.050> it<00:16:06.140> as<00:16:06.320> a 00:16:06.340 --> 00:16:06.350 align:start position:0% would suspect that we see it as a 00:16:06.350 --> 00:16:10.180 align:start position:0% would suspect that we see it as a one-way<00:16:06.950> road<00:16:07.250> most<00:16:07.610> of<00:16:07.760> the<00:16:07.910> time<00:16:08.440> ok<00:16:09.440> I<00:16:09.470> have 00:16:10.180 --> 00:16:10.190 align:start position:0% one-way road most of the time ok I have 00:16:10.190 --> 00:16:12.250 align:start position:0% one-way road most of the time ok I have the<00:16:10.820> following<00:16:10.940> for<00:16:11.240> Justin<00:16:11.510> was<00:16:11.660> sort<00:16:12.200> of 00:16:12.250 --> 00:16:12.260 align:start position:0% the following for Justin was sort of 00:16:12.260 --> 00:16:13.690 align:start position:0% the following for Justin was sort of similar<00:16:12.590> I<00:16:12.920> don't<00:16:13.100> know<00:16:13.160> if<00:16:13.250> it's<00:16:13.340> a<00:16:13.430> solution 00:16:13.690 --> 00:16:13.700 align:start position:0% similar I don't know if it's a solution 00:16:13.700 --> 00:16:15.700 align:start position:0% similar I don't know if it's a solution in<00:16:13.940> any<00:16:14.090> sense<00:16:14.360> but<00:16:14.960> I've<00:16:15.290> heard<00:16:15.440> the<00:16:15.530> idea 00:16:15.700 --> 00:16:15.710 align:start position:0% in any sense but I've heard the idea 00:16:15.710 --> 00:16:19.500 align:start position:0% in any sense but I've heard the idea kicked<00:16:16.160> around<00:16:16.280> a<00:16:16.910> little<00:16:17.450> bit<00:16:17.720> of<00:16:18.020> using 00:16:19.500 --> 00:16:19.510 align:start position:0% kicked around a little bit of using 00:16:19.510 --> 00:16:23.230 align:start position:0% kicked around a little bit of using execution<00:16:20.510> environments<00:16:21.140> to<00:16:21.410> in<00:16:22.190> this<00:16:22.910> is<00:16:23.060> far 00:16:23.230 --> 00:16:23.240 align:start position:0% execution environments to in this is far 00:16:23.240 --> 00:16:24.460 align:start position:0% execution environments to in this is far off<00:16:23.270> in<00:16:23.540> the<00:16:23.570> future<00:16:23.720> I<00:16:23.900> understand<00:16:24.290> and<00:16:24.380> that 00:16:24.460 --> 00:16:24.470 align:start position:0% off in the future I understand and that 00:16:24.470 --> 00:16:26.350 align:start position:0% off in the future I understand and that research<00:16:24.710> is<00:16:24.920> nowhere<00:16:25.160> near<00:16:25.220> done<00:16:25.490> but<00:16:26.090> it 00:16:26.350 --> 00:16:26.360 align:start position:0% research is nowhere near done but it 00:16:26.360 --> 00:16:27.940 align:start position:0% research is nowhere near done but it there<00:16:26.600> was<00:16:26.690> an<00:16:26.810> idea<00:16:27.110> and<00:16:27.440> if<00:16:27.530> you<00:16:27.620> could<00:16:27.740> speak 00:16:27.940 --> 00:16:27.950 align:start position:0% there was an idea and if you could speak 00:16:27.950 --> 00:16:29.770 align:start position:0% there was an idea and if you could speak to<00:16:27.980> a<00:16:28.100> little<00:16:28.280> bit<00:16:28.400> about<00:16:28.610> it<00:16:28.790> maybe<00:16:29.210> slotting 00:16:29.770 --> 00:16:29.780 align:start position:0% to a little bit about it maybe slotting 00:16:29.780 --> 00:16:32.050 align:start position:0% to a little bit about it maybe slotting those<00:16:29.930> in<00:16:30.170> for<00:16:30.800> some<00:16:31.100> of<00:16:31.190> these<00:16:31.250> larger<00:16:31.730> you 00:16:32.050 --> 00:16:32.060 align:start position:0% those in for some of these larger you 00:16:32.060 --> 00:16:33.280 align:start position:0% those in for some of these larger you know<00:16:32.180> permission<00:16:32.600> pieces<00:16:32.900> I<00:16:32.990> think<00:16:33.110> it<00:16:33.170> was<00:16:33.260> a 00:16:33.280 --> 00:16:33.290 align:start position:0% know permission pieces I think it was a 00:16:33.290 --> 00:16:34.660 align:start position:0% know permission pieces I think it was a fatality<00:16:33.410> mentioned<00:16:33.920> in<00:16:34.010> a<00:16:34.070> panel<00:16:34.370> not<00:16:34.490> that 00:16:34.660 --> 00:16:34.670 align:start position:0% fatality mentioned in a panel not that 00:16:34.670 --> 00:16:37.300 align:start position:0% fatality mentioned in a panel not that long<00:16:34.790> ago<00:16:35.170> the<00:16:36.170> use<00:16:36.320> of<00:16:36.470> it<00:16:36.560> I<00:16:36.770> guess<00:16:37.190> the 00:16:37.300 --> 00:16:37.310 align:start position:0% long ago the use of it I guess the 00:16:37.310 --> 00:16:38.950 align:start position:0% long ago the use of it I guess the question<00:16:37.580> is<00:16:37.640> about<00:16:37.850> use<00:16:38.030> of<00:16:38.240> potential<00:16:38.840> use 00:16:38.950 --> 00:16:38.960 align:start position:0% question is about use of potential use 00:16:38.960 --> 00:16:40.630 align:start position:0% question is about use of potential use of<00:16:39.020> execution<00:16:39.650> environments<00:16:40.220> to<00:16:40.310> help<00:16:40.490> bridge 00:16:40.630 --> 00:16:40.640 align:start position:0% of execution environments to help bridge 00:16:40.640 --> 00:16:42.670 align:start position:0% of execution environments to help bridge that<00:16:40.670> gap<00:16:40.850> and<00:16:41.420> he<00:16:41.690> could<00:16:42.140> you<00:16:42.230> speak<00:16:42.410> again<00:16:42.650> I 00:16:42.670 --> 00:16:42.680 align:start position:0% that gap and he could you speak again I 00:16:42.680 --> 00:16:44.620 align:start position:0% that gap and he could you speak again I guess<00:16:42.950> first<00:16:43.460> to<00:16:43.730> execution<00:16:44.210> environments 00:16:44.620 --> 00:16:44.630 align:start position:0% guess first to execution environments 00:16:44.630 --> 00:16:45.700 align:start position:0% guess first to execution environments themselves<00:16:44.720> so<00:16:45.200> those<00:16:45.350> who<00:16:45.470> are<00:16:45.500> less 00:16:45.700 --> 00:16:45.710 align:start position:0% themselves so those who are less 00:16:45.710 --> 00:16:47.950 align:start position:0% themselves so those who are less familiar<00:16:45.830> with<00:16:46.280> them<00:16:46.460> and<00:16:46.600> to<00:16:47.600> about<00:16:47.810> their 00:16:47.950 --> 00:16:47.960 align:start position:0% familiar with them and to about their 00:16:47.960 --> 00:16:51.550 align:start position:0% familiar with them and to about their potential<00:16:48.260> capability<00:16:49.240> right<00:16:50.240> so<00:16:50.560> execution 00:16:51.550 --> 00:16:51.560 align:start position:0% potential capability right so execution 00:16:51.560 --> 00:16:53.320 align:start position:0% potential capability right so execution environments<00:16:52.130> are<00:16:52.280> kind<00:16:52.820> of<00:16:52.880> a<00:16:53.000> layer<00:16:53.210> of 00:16:53.320 --> 00:16:53.330 align:start position:0% environments are kind of a layer of 00:16:53.330 --> 00:16:56.950 align:start position:0% environments are kind of a layer of abstraction<00:16:53.450> which<00:16:54.140> allows<00:16:55.270> anyone<00:16:56.270> to<00:16:56.690> kind 00:16:56.950 --> 00:16:56.960 align:start position:0% abstraction which allows anyone to kind 00:16:56.960 --> 00:17:00.190 align:start position:0% abstraction which allows anyone to kind of<00:16:57.050> graft<00:16:57.560> the<00:16:58.100> business<00:16:58.730> logic<00:16:58.940> on<00:16:59.450> top<00:17:00.050> of 00:17:00.190 --> 00:17:00.200 align:start position:0% of graft the business logic on top of 00:17:00.200 --> 00:17:02.590 align:start position:0% of graft the business logic on top of the<00:17:00.290> consensus<00:17:00.920> but<00:17:01.760> in<00:17:01.940> a<00:17:02.090> much<00:17:02.300> more 00:17:02.590 --> 00:17:02.600 align:start position:0% the consensus but in a much more 00:17:02.600 --> 00:17:05.800 align:start position:0% the consensus but in a much more low-level<00:17:03.170> way<00:17:03.710> than<00:17:04.130> a<00:17:04.160> small<00:17:05.030> contractor<00:17:05.600> so 00:17:05.800 --> 00:17:05.810 align:start position:0% low-level way than a small contractor so 00:17:05.810 --> 00:17:08.070 align:start position:0% low-level way than a small contractor so you<00:17:05.870> can<00:17:05.990> even<00:17:06.230> like<00:17:06.560> think<00:17:07.250> of<00:17:07.310> it<00:17:07.459> as 00:17:08.070 --> 00:17:08.080 align:start position:0% you can even like think of it as 00:17:08.080 --> 00:17:11.079 align:start position:0% you can even like think of it as programming<00:17:09.080> your<00:17:09.200> own<00:17:09.320> VM<00:17:09.820> and<00:17:10.820> you<00:17:10.910> don't 00:17:11.079 --> 00:17:11.089 align:start position:0% programming your own VM and you don't 00:17:11.089 --> 00:17:13.420 align:start position:0% programming your own VM and you don't have<00:17:11.209> the<00:17:11.330> overhead<00:17:11.480> of<00:17:12.020> the<00:17:12.350> VM<00:17:12.980> as<00:17:13.370> a 00:17:13.420 --> 00:17:13.430 align:start position:0% have the overhead of the VM as a 00:17:13.430 --> 00:17:17.020 align:start position:0% have the overhead of the VM as a starting<00:17:13.910> point<00:17:14.260> and<00:17:15.260> I<00:17:15.830> guess<00:17:16.310> this<00:17:16.670> could<00:17:16.880> be 00:17:17.020 --> 00:17:17.030 align:start position:0% starting point and I guess this could be 00:17:17.030 --> 00:17:18.699 align:start position:0% starting point and I guess this could be helpful<00:17:17.209> in<00:17:17.540> the<00:17:17.660> context<00:17:18.050> of<00:17:18.110> private<00:17:18.350> change 00:17:18.699 --> 00:17:18.709 align:start position:0% helpful in the context of private change 00:17:18.709 --> 00:17:20.039 align:start position:0% helpful in the context of private change that 00:17:20.039 --> 00:17:20.049 align:start position:0% that 00:17:20.049 --> 00:17:23.759 align:start position:0% that have<00:17:20.230> a<00:17:21.449> roadmap<00:17:22.449> to<00:17:22.989> become<00:17:23.259> more<00:17:23.470> and<00:17:23.619> more 00:17:23.759 --> 00:17:23.769 align:start position:0% have a roadmap to become more and more 00:17:23.769 --> 00:17:24.689 align:start position:0% have a roadmap to become more and more public<00:17:23.949> over<00:17:24.309> time 00:17:24.689 --> 00:17:24.699 align:start position:0% public over time 00:17:24.699 --> 00:17:27.569 align:start position:0% public over time and<00:17:25.480> as<00:17:25.989> you<00:17:26.139> mentioned<00:17:26.259> maybe<00:17:26.739> these<00:17:26.919> private 00:17:27.569 --> 00:17:27.579 align:start position:0% and as you mentioned maybe these private 00:17:27.579 --> 00:17:29.700 align:start position:0% and as you mentioned maybe these private changes<00:17:27.879> they<00:17:27.999> don't<00:17:28.209> want<00:17:28.449> to<00:17:28.690> have<00:17:29.440> to<00:17:29.559> deal 00:17:29.700 --> 00:17:29.710 align:start position:0% changes they don't want to have to deal 00:17:29.710 --> 00:17:32.669 align:start position:0% changes they don't want to have to deal with<00:17:29.860> tokens<00:17:30.309> and<00:17:30.700> have<00:17:31.419> to<00:17:31.539> deal<00:17:31.720> with<00:17:31.779> you 00:17:32.669 --> 00:17:32.679 align:start position:0% with tokens and have to deal with you 00:17:32.679 --> 00:17:34.739 align:start position:0% with tokens and have to deal with you know<00:17:32.850> permission<00:17:33.879> security<00:17:34.570> in<00:17:34.659> the 00:17:34.739 --> 00:17:34.749 align:start position:0% know permission security in the 00:17:34.749 --> 00:17:36.029 align:start position:0% know permission security in the permissionless<00:17:35.110> model<00:17:35.470> and<00:17:35.619> instead<00:17:35.950> they 00:17:36.029 --> 00:17:36.039 align:start position:0% permissionless model and instead they 00:17:36.039 --> 00:17:39.720 align:start position:0% permissionless model and instead they just<00:17:36.220> want<00:17:36.369> to<00:17:36.429> reuse<00:17:36.850> an<00:17:37.360> existing<00:17:38.730> working 00:17:39.720 --> 00:17:39.730 align:start position:0% just want to reuse an existing working 00:17:39.730 --> 00:17:43.470 align:start position:0% just want to reuse an existing working secure<00:17:40.539> blockchain<00:17:40.960> and<00:17:41.200> so<00:17:41.970> one<00:17:42.970> model<00:17:43.179> here 00:17:43.470 --> 00:17:43.480 align:start position:0% secure blockchain and so one model here 00:17:43.480 --> 00:17:45.690 align:start position:0% secure blockchain and so one model here would<00:17:43.690> be<00:17:43.809> to<00:17:44.080> just<00:17:44.379> drop<00:17:44.769> drop<00:17:45.399> their 00:17:45.690 --> 00:17:45.700 align:start position:0% would be to just drop drop their 00:17:45.700 --> 00:17:47.700 align:start position:0% would be to just drop drop their existing<00:17:46.210> consensus<00:17:46.749> that<00:17:46.869> they've<00:17:47.080> tested 00:17:47.700 --> 00:17:47.710 align:start position:0% existing consensus that they've tested 00:17:47.710 --> 00:17:49.710 align:start position:0% existing consensus that they've tested in<00:17:47.799> the<00:17:47.860> private<00:17:48.220> world<00:17:48.399> and<00:17:48.820> then<00:17:48.909> drop<00:17:49.450> it<00:17:49.570> in 00:17:49.710 --> 00:17:49.720 align:start position:0% in the private world and then drop it in 00:17:49.720 --> 00:17:52.979 align:start position:0% in the private world and then drop it in to<00:17:50.460> an<00:17:51.460> execution<00:17:51.700> engine<00:17:52.210> or<00:17:52.629> we<00:17:52.720> could<00:17:52.840> also 00:17:52.979 --> 00:17:52.989 align:start position:0% to an execution engine or we could also 00:17:52.989 --> 00:17:56.039 align:start position:0% to an execution engine or we could also drop<00:17:53.230> it<00:17:53.409> in<00:17:53.559> as<00:17:53.769> a<00:17:53.830> you<00:17:54.759> know<00:17:54.820> polkadot<00:17:55.419> parrot 00:17:56.039 --> 00:17:56.049 align:start position:0% drop it in as a you know polkadot parrot 00:17:56.049 --> 00:17:57.419 align:start position:0% drop it in as a you know polkadot parrot chain<00:17:56.230> that<00:17:56.409> would<00:17:56.529> kind<00:17:56.769> of<00:17:56.830> be<00:17:56.980> a<00:17:57.009> similar 00:17:57.419 --> 00:17:57.429 align:start position:0% chain that would kind of be a similar 00:17:57.429 --> 00:17:59.759 align:start position:0% chain that would kind of be a similar thing<00:17:57.609> but<00:17:57.850> regardless<00:17:58.600> having<00:17:59.379> some 00:17:59.759 --> 00:17:59.769 align:start position:0% thing but regardless having some 00:17:59.769 --> 00:18:02.129 align:start position:0% thing but regardless having some universal<00:18:00.669> standard<00:18:01.239> or<00:18:01.509> at<00:18:01.600> least<00:18:01.779> one<00:18:02.019> that 00:18:02.129 --> 00:18:02.139 align:start position:0% universal standard or at least one that 00:18:02.139 --> 00:18:04.919 align:start position:0% universal standard or at least one that is<00:18:02.289> used<00:18:02.529> widely<00:18:03.190> seems<00:18:04.149> to<00:18:04.269> offer<00:18:04.359> great<00:18:04.749> deal 00:18:04.919 --> 00:18:04.929 align:start position:0% is used widely seems to offer great deal 00:18:04.929 --> 00:18:08.269 align:start position:0% is used widely seems to offer great deal benefits<00:18:05.409> over<00:18:06.009> time<00:18:06.389> you<00:18:07.389> have<00:18:07.570> ideas<00:18:07.899> on 00:18:08.269 --> 00:18:08.279 align:start position:0% benefits over time you have ideas on 00:18:08.279 --> 00:18:10.919 align:start position:0% benefits over time you have ideas on things<00:18:09.279> that<00:18:09.340> might<00:18:09.580> fit<00:18:09.820> into<00:18:09.970> a<00:18:10.179> decent 00:18:10.919 --> 00:18:10.929 align:start position:0% things that might fit into a decent 00:18:10.929 --> 00:18:13.739 align:start position:0% things that might fit into a decent standard<00:18:11.080> stack<00:18:11.559> we<00:18:12.549> spoke<00:18:12.759> about<00:18:12.789> briefly 00:18:13.739 --> 00:18:13.749 align:start position:0% standard stack we spoke about briefly 00:18:13.749 --> 00:18:16.320 align:start position:0% standard stack we spoke about briefly hope<00:18:14.169> I'm<00:18:14.289> not<00:18:14.409> pre-empting<00:18:14.980> you<00:18:15.609> know<00:18:15.730> just 00:18:16.320 --> 00:18:16.330 align:start position:0% hope I'm not pre-empting you know just 00:18:16.330 --> 00:18:18.330 align:start position:0% hope I'm not pre-empting you know just commentary<00:18:16.840> in<00:18:16.989> the<00:18:17.049> future<00:18:17.289> but<00:18:17.499> could<00:18:17.919> you<00:18:18.070> I 00:18:18.330 --> 00:18:18.340 align:start position:0% commentary in the future but could you I 00:18:18.340 --> 00:18:19.859 align:start position:0% commentary in the future but could you I guess<00:18:18.549> outline<00:18:18.909> a<00:18:18.940> little<00:18:19.059> bit<00:18:19.389> some<00:18:19.659> of<00:18:19.749> which 00:18:19.859 --> 00:18:19.869 align:start position:0% guess outline a little bit some of which 00:18:19.869 --> 00:18:22.549 align:start position:0% guess outline a little bit some of which we<00:18:20.049> spoke<00:18:20.259> about<00:18:20.759> not<00:18:21.759> too<00:18:21.879> long<00:18:22.059> ago<00:18:22.299> about 00:18:22.549 --> 00:18:22.559 align:start position:0% we spoke about not too long ago about 00:18:22.559 --> 00:18:24.869 align:start position:0% we spoke about not too long ago about what<00:18:23.559> fits<00:18:23.799> into<00:18:24.039> that<00:18:24.159> stack<00:18:24.369> those<00:18:24.519> pieces 00:18:24.869 --> 00:18:24.879 align:start position:0% what fits into that stack those pieces 00:18:24.879 --> 00:18:27.330 align:start position:0% what fits into that stack those pieces being<00:18:25.059> worked<00:18:25.269> on<00:18:25.419> now<00:18:25.659> elements<00:18:26.259> of<00:18:26.379> member 00:18:27.330 --> 00:18:27.340 align:start position:0% being worked on now elements of member 00:18:27.340 --> 00:18:30.239 align:start position:0% being worked on now elements of member linds<00:18:27.549> elements<00:18:28.450> are<00:18:28.509> standard<00:18:28.779> I<00:18:29.259> mean<00:18:30.070> if 00:18:30.239 --> 00:18:30.249 align:start position:0% linds elements are standard I mean if 00:18:30.249 --> 00:18:32.340 align:start position:0% linds elements are standard I mean if you've<00:18:30.369> got<00:18:30.399> a<00:18:30.519> slot<00:18:30.940> in<00:18:31.210> to<00:18:31.749> an<00:18:32.080> execution 00:18:32.340 --> 00:18:32.350 align:start position:0% you've got a slot in to an execution 00:18:32.350 --> 00:18:35.310 align:start position:0% you've got a slot in to an execution engine<00:18:32.889> or<00:18:33.129> going<00:18:33.279> to<00:18:33.340> slot<00:18:33.639> in<00:18:33.879> as<00:18:34.119> a<00:18:34.320> pocket 00:18:35.310 --> 00:18:35.320 align:start position:0% engine or going to slot in as a pocket 00:18:35.320 --> 00:18:37.769 align:start position:0% engine or going to slot in as a pocket or<00:18:35.529> pair<00:18:35.769> chain<00:18:36.070> then<00:18:36.429> you<00:18:36.999> want<00:18:37.149> to<00:18:37.210> try<00:18:37.450> and 00:18:37.769 --> 00:18:37.779 align:start position:0% or pair chain then you want to try and 00:18:37.779 --> 00:18:40.440 align:start position:0% or pair chain then you want to try and express<00:18:38.499> your<00:18:38.710> consensus<00:18:39.369> in<00:18:39.609> wasum<00:18:40.029> because 00:18:40.440 --> 00:18:40.450 align:start position:0% express your consensus in wasum because 00:18:40.450 --> 00:18:42.119 align:start position:0% express your consensus in wasum because that's<00:18:40.659> what<00:18:40.869> these<00:18:40.989> two<00:18:41.049> systems<00:18:41.499> will<00:18:42.039> be 00:18:42.119 --> 00:18:42.129 align:start position:0% that's what these two systems will be 00:18:42.129 --> 00:18:47.549 align:start position:0% that's what these two systems will be doing<00:18:42.899> and<00:18:44.609> it<00:18:45.609> will<00:18:45.730> also<00:18:45.879> be<00:18:46.029> helpful<00:18:46.299> if<00:18:46.840> you 00:18:47.549 --> 00:18:47.559 align:start position:0% doing and it will also be helpful if you 00:18:47.559 --> 00:18:50.580 align:start position:0% doing and it will also be helpful if you express<00:18:47.919> you<00:18:48.730> know<00:18:48.850> the<00:18:49.119> application<00:18:50.080> layer 00:18:50.580 --> 00:18:50.590 align:start position:0% express you know the application layer 00:18:50.590 --> 00:18:53.580 align:start position:0% express you know the application layer itself<00:18:51.039> and<00:18:51.279> whatever<00:18:51.429> because<00:18:51.850> you<00:18:52.330> know<00:18:52.590> it 00:18:53.580 --> 00:18:53.590 align:start position:0% itself and whatever because you know it 00:18:53.590 --> 00:18:57.450 align:start position:0% itself and whatever because you know it will<00:18:53.679> all<00:18:53.859> be<00:18:54.009> one<00:18:54.159> one<00:18:54.489> system<00:18:54.879> I<00:18:56.159> mean<00:18:57.159> if<00:18:57.340> you 00:18:57.450 --> 00:18:57.460 align:start position:0% will all be one one system I mean if you 00:18:57.460 --> 00:18:59.759 align:start position:0% will all be one one system I mean if you want<00:18:57.669> to<00:18:57.759> do<00:18:57.940> something<00:18:58.899> more<00:18:59.049> ambitious<00:18:59.169> and 00:18:59.759 --> 00:18:59.769 align:start position:0% want to do something more ambitious and 00:18:59.769 --> 00:19:01.919 align:start position:0% want to do something more ambitious and have<00:19:00.220> your<00:19:00.519> your<00:19:00.909> own<00:19:01.179> blockchain<00:19:01.690> your<00:19:01.869> own 00:19:01.919 --> 00:19:01.929 align:start position:0% have your your own blockchain your own 00:19:01.929 --> 00:19:05.849 align:start position:0% have your your own blockchain your own consensus<00:19:02.590> then<00:19:02.859> it<00:19:03.129> is<00:19:03.669> helpful<00:19:04.119> to<00:19:04.619> try<00:19:05.619> and 00:19:05.849 --> 00:19:05.859 align:start position:0% consensus then it is helpful to try and 00:19:05.859 --> 00:19:08.070 align:start position:0% consensus then it is helpful to try and converge<00:19:06.700> on<00:19:06.999> the<00:19:07.119> blockchain<00:19:07.450> standards 00:19:08.070 --> 00:19:08.080 align:start position:0% converge on the blockchain standards 00:19:08.080 --> 00:19:11.340 align:start position:0% converge on the blockchain standards that<00:19:08.619> are<00:19:08.739> emerging<00:19:09.549> at<00:19:10.090> a<00:19:10.149> lower<00:19:10.659> level<00:19:10.749> so<00:19:11.230> at 00:19:11.340 --> 00:19:11.350 align:start position:0% that are emerging at a lower level so at 00:19:11.350 --> 00:19:12.960 align:start position:0% that are emerging at a lower level so at the<00:19:11.529> networking<00:19:12.039> level<00:19:12.429> at<00:19:12.789> the 00:19:12.960 --> 00:19:12.970 align:start position:0% the networking level at the 00:19:12.970 --> 00:19:16.919 align:start position:0% the networking level at the cryptographic<00:19:13.570> level<00:19:14.730> so<00:19:15.730> for<00:19:15.909> example<00:19:16.419> at 00:19:16.919 --> 00:19:16.929 align:start position:0% cryptographic level so for example at 00:19:16.929 --> 00:19:18.450 align:start position:0% cryptographic level so for example at the<00:19:17.109> cryptographic<00:19:17.379> level<00:19:17.950> you<00:19:18.100> could<00:19:18.249> use 00:19:18.450 --> 00:19:18.460 align:start position:0% the cryptographic level you could use 00:19:18.460 --> 00:19:22.830 align:start position:0% the cryptographic level you could use sha-256<00:19:19.389> for<00:19:19.779> hashing<00:19:20.200> pl/sql<00:19:21.190> 381<00:19:21.940> for 00:19:22.830 --> 00:19:22.840 align:start position:0% sha-256 for hashing pl/sql 381 for 00:19:22.840 --> 00:19:24.389 align:start position:0% sha-256 for hashing pl/sql 381 for signatures<00:19:23.259> that's<00:19:23.499> a<00:19:23.619> great<00:19:23.799> starting<00:19:24.129> point 00:19:24.389 --> 00:19:24.399 align:start position:0% signatures that's a great starting point 00:19:24.399 --> 00:19:27.029 align:start position:0% signatures that's a great starting point from<00:19:25.269> networking<00:19:25.779> you<00:19:25.960> can<00:19:26.019> consider<00:19:26.440> the<00:19:26.590> PGP 00:19:27.029 --> 00:19:27.039 align:start position:0% from networking you can consider the PGP 00:19:27.039 --> 00:19:29.420 align:start position:0% from networking you can consider the PGP as<00:19:27.279> a<00:19:27.309> great<00:19:27.519> starting<00:19:27.850> point 00:19:29.420 --> 00:19:29.430 align:start position:0% as a great starting point 00:19:29.430 --> 00:19:32.300 align:start position:0% as a great starting point if<00:19:30.240> you<00:19:30.480> if<00:19:30.810> that's<00:19:31.200> part<00:19:31.500> of<00:19:31.590> your<00:19:31.800> more 00:19:32.300 --> 00:19:32.310 align:start position:0% if you if that's part of your more 00:19:32.310 --> 00:19:38.480 align:start position:0% if you if that's part of your more ambitious<00:19:32.700> roadmap<00:19:34.700> go<00:19:35.700> ahead<00:19:35.850> just<00:19:36.500> on<00:19:37.500> the 00:19:38.480 --> 00:19:38.490 align:start position:0% ambitious roadmap go ahead just on the 00:19:38.490 --> 00:19:40.250 align:start position:0% ambitious roadmap go ahead just on the subject<00:19:38.880> of<00:19:38.940> using<00:19:39.240> execution<00:19:39.810> environments 00:19:40.250 --> 00:19:40.260 align:start position:0% subject of using execution environments 00:19:40.260 --> 00:19:42.200 align:start position:0% subject of using execution environments for<00:19:40.470> permission<00:19:41.130> systems<00:19:41.550> I<00:19:41.730> think<00:19:41.760> Brian 00:19:42.200 --> 00:19:42.210 align:start position:0% for permission systems I think Brian 00:19:42.210 --> 00:19:43.580 align:start position:0% for permission systems I think Brian made<00:19:42.420> a<00:19:42.450> really<00:19:42.720> interesting<00:19:42.810> distinction 00:19:43.580 --> 00:19:43.590 align:start position:0% made a really interesting distinction 00:19:43.590 --> 00:19:46.040 align:start position:0% made a really interesting distinction between<00:19:43.950> public<00:19:44.400> facing<00:19:45.030> and<00:19:45.210> private<00:19:45.600> facing 00:19:46.040 --> 00:19:46.050 align:start position:0% between public facing and private facing 00:19:46.050 --> 00:19:49.250 align:start position:0% between public facing and private facing and<00:19:46.950> as<00:19:47.280> an<00:19:47.430> additional<00:19:47.670> access<00:19:48.450> to<00:19:48.780> public 00:19:49.250 --> 00:19:49.260 align:start position:0% and as an additional access to public 00:19:49.260 --> 00:19:51.320 align:start position:0% and as an additional access to public and<00:19:49.410> private<00:19:49.500> or<00:19:50.100> permission<00:19:51.060> and<00:19:51.210> on 00:19:51.320 --> 00:19:51.330 align:start position:0% and private or permission and on 00:19:51.330 --> 00:19:56.480 align:start position:0% and private or permission and on permission<00:19:51.870> thanks<00:19:53.450> so<00:19:54.450> using<00:19:55.290> an<00:19:55.590> execution 00:19:56.480 --> 00:19:56.490 align:start position:0% permission thanks so using an execution 00:19:56.490 --> 00:19:58.280 align:start position:0% permission thanks so using an execution environment<00:19:56.910> to<00:19:57.000> creative<00:19:57.270> permissioned<00:19:57.960> but 00:19:58.280 --> 00:19:58.290 align:start position:0% environment to creative permissioned but 00:19:58.290 --> 00:20:00.560 align:start position:0% environment to creative permissioned but public<00:19:58.800> facing<00:19:59.220> system<00:19:59.640> might<00:19:59.850> be<00:19:59.880> useful 00:20:00.560 --> 00:20:00.570 align:start position:0% public facing system might be useful 00:20:00.570 --> 00:20:02.360 align:start position:0% public facing system might be useful it<00:20:00.690> gives<00:20:00.930> public<00:20:01.320> verifiability<00:20:01.890> without 00:20:02.360 --> 00:20:02.370 align:start position:0% it gives public verifiability without 00:20:02.370 --> 00:20:05.150 align:start position:0% it gives public verifiability without necessarily<00:20:02.820> public<00:20:03.090> participation<00:20:04.160> right 00:20:05.150 --> 00:20:05.160 align:start position:0% necessarily public participation right 00:20:05.160 --> 00:20:09.590 align:start position:0% necessarily public participation right and<00:20:06.150> if<00:20:06.330> you<00:20:06.570> if<00:20:07.290> you<00:20:07.560> want<00:20:07.830> to<00:20:08.130> be<00:20:08.940> public<00:20:09.390> but 00:20:09.590 --> 00:20:09.600 align:start position:0% and if you if you want to be public but 00:20:09.600 --> 00:20:13.190 align:start position:0% and if you if you want to be public but also<00:20:10.100> have<00:20:11.100> privacy<00:20:11.670> is<00:20:12.090> another<00:20:12.990> dimension 00:20:13.190 --> 00:20:13.200 align:start position:0% also have privacy is another dimension 00:20:13.200 --> 00:20:15.140 align:start position:0% also have privacy is another dimension then<00:20:14.070> you<00:20:14.160> need<00:20:14.280> to<00:20:14.400> start<00:20:14.550> getting<00:20:14.670> fancy 00:20:15.140 --> 00:20:15.150 align:start position:0% then you need to start getting fancy 00:20:15.150 --> 00:20:18.290 align:start position:0% then you need to start getting fancy with<00:20:15.180> zero-knowledge<00:20:15.660> personally<00:20:16.730> so<00:20:17.730> I'm 00:20:18.290 --> 00:20:18.300 align:start position:0% with zero-knowledge personally so I'm 00:20:18.300 --> 00:20:19.580 align:start position:0% with zero-knowledge personally so I'm gonna<00:20:18.510> come<00:20:18.750> back<00:20:18.840> to<00:20:18.960> Brian<00:20:19.140> for<00:20:19.320> something<00:20:19.530> a 00:20:19.580 --> 00:20:19.590 align:start position:0% gonna come back to Brian for something a 00:20:19.590 --> 00:20:24.680 align:start position:0% gonna come back to Brian for something a little<00:20:19.680> more<00:20:19.830> macro<00:20:21.380> but<00:20:22.380> related<00:20:22.650> so<00:20:23.690> the 00:20:24.680 --> 00:20:24.690 align:start position:0% little more macro but related so the 00:20:24.690 --> 00:20:26.990 align:start position:0% little more macro but related so the innovation<00:20:25.230> and<00:20:25.560> this<00:20:26.490> might<00:20:26.670> be<00:20:26.790> something 00:20:26.990 --> 00:20:27.000 align:start position:0% innovation and this might be something 00:20:27.000 --> 00:20:28.820 align:start position:0% innovation and this might be something you<00:20:27.120> disagree<00:20:27.450> with<00:20:27.480> some<00:20:27.840> extent<00:20:28.200> but<00:20:28.650> a<00:20:28.710> lot 00:20:28.820 --> 00:20:28.830 align:start position:0% you disagree with some extent but a lot 00:20:28.830 --> 00:20:30.050 align:start position:0% you disagree with some extent but a lot of<00:20:28.920> the<00:20:28.980> innovation<00:20:29.370> is<00:20:29.460> taking<00:20:29.550> place<00:20:29.790> in<00:20:29.970> the 00:20:30.050 --> 00:20:30.060 align:start position:0% of the innovation is taking place in the 00:20:30.060 --> 00:20:32.270 align:start position:0% of the innovation is taking place in the public<00:20:30.300> space<00:20:30.480> especially<00:20:31.260> I<00:20:31.890> mean<00:20:32.070> all<00:20:32.250> of 00:20:32.270 --> 00:20:32.280 align:start position:0% public space especially I mean all of 00:20:32.280 --> 00:20:34.070 align:start position:0% public space especially I mean all of this<00:20:32.430> was<00:20:32.640> born<00:20:32.820> out<00:20:32.970> of<00:20:33.000> the<00:20:33.210> open<00:20:33.630> source<00:20:33.810> you 00:20:34.070 --> 00:20:34.080 align:start position:0% this was born out of the open source you 00:20:34.080 --> 00:20:37.630 align:start position:0% this was born out of the open source you know<00:20:34.350> this<00:20:34.620> of<00:20:34.800> it<00:20:35.300> and<00:20:36.300> it<00:20:37.110> changes<00:20:37.530> quickly 00:20:37.630 --> 00:20:37.640 align:start position:0% know this of it and it changes quickly 00:20:37.640 --> 00:20:40.550 align:start position:0% know this of it and it changes quickly right<00:20:38.640> so<00:20:38.970> we<00:20:39.510> could<00:20:39.720> speak<00:20:39.990> to<00:20:40.170> the<00:20:40.260> research 00:20:40.550 --> 00:20:40.560 align:start position:0% right so we could speak to the research 00:20:40.560 --> 00:20:45.890 align:start position:0% right so we could speak to the research being<00:20:40.830> done<00:20:40.920> by<00:20:42.290> EF<00:20:43.320> researchers<00:20:44.070> or<00:20:44.900> around 00:20:45.890 --> 00:20:45.900 align:start position:0% being done by EF researchers or around 00:20:45.900 --> 00:20:50.630 align:start position:0% being done by EF researchers or around the<00:20:46.110> etherium<00:20:46.500> space<00:20:46.800> to<00:20:48.320> IBC<00:20:49.320> or<00:20:49.800> so<00:20:50.340> on<00:20:50.460> and 00:20:50.630 --> 00:20:50.640 align:start position:0% the etherium space to IBC or so on and 00:20:50.640 --> 00:20:53.120 align:start position:0% the etherium space to IBC or so on and so<00:20:50.730> forth<00:20:50.970> I<00:20:51.690> guess<00:20:52.470> the<00:20:52.620> question<00:20:52.770> that<00:20:52.980> I 00:20:53.120 --> 00:20:53.130 align:start position:0% so forth I guess the question that I 00:20:53.130 --> 00:20:56.570 align:start position:0% so forth I guess the question that I would<00:20:53.190> ask<00:20:53.280> is<00:20:53.730> what<00:20:54.620> what<00:20:55.620> specifically<00:20:56.460> are 00:20:56.570 --> 00:20:56.580 align:start position:0% would ask is what what specifically are 00:20:56.580 --> 00:21:00.130 align:start position:0% would ask is what what specifically are some<00:20:57.120> of<00:20:57.330> the<00:20:57.860> member<00:20:58.860> organizations 00:21:00.130 --> 00:21:00.140 align:start position:0% some of the member organizations 00:21:00.140 --> 00:21:03.230 align:start position:0% some of the member organizations interested<00:21:01.140> in<00:21:01.260> and<00:21:01.640> and<00:21:02.640> what<00:21:03.000> could 00:21:03.230 --> 00:21:03.240 align:start position:0% interested in and and what could 00:21:03.240 --> 00:21:05.780 align:start position:0% interested in and and what could potentially<00:21:03.420> be<00:21:03.900> done<00:21:04.290> to<00:21:04.860> help<00:21:05.070> connect<00:21:05.580> them 00:21:05.780 --> 00:21:05.790 align:start position:0% potentially be done to help connect them 00:21:05.790 --> 00:21:08.120 align:start position:0% potentially be done to help connect them with<00:21:06.270> those<00:21:06.840> that<00:21:07.170> may<00:21:07.350> be<00:21:07.410> building<00:21:07.710> toward 00:21:08.120 --> 00:21:08.130 align:start position:0% with those that may be building toward 00:21:08.130 --> 00:21:10.670 align:start position:0% with those that may be building toward that<00:21:08.250> future<00:21:08.660> for<00:21:09.660> example<00:21:10.110> and<00:21:10.350> a<00:21:10.410> couple<00:21:10.590> of 00:21:10.670 --> 00:21:10.680 align:start position:0% that future for example and a couple of 00:21:10.680 --> 00:21:13.520 align:start position:0% that future for example and a couple of quick<00:21:10.830> examples<00:21:11.450> would<00:21:12.450> it<00:21:12.600> be<00:21:12.840> they're 00:21:13.520 --> 00:21:13.530 align:start position:0% quick examples would it be they're 00:21:13.530 --> 00:21:15.050 align:start position:0% quick examples would it be they're interested<00:21:14.130> in<00:21:14.370> privacy<00:21:14.730> preserving 00:21:15.050 --> 00:21:15.060 align:start position:0% interested in privacy preserving 00:21:15.060 --> 00:21:18.140 align:start position:0% interested in privacy preserving elements<00:21:15.690> like<00:21:15.870> ZK<00:21:16.620> roll-up<00:21:16.920> so<00:21:17.100> that<00:21:17.250> they 00:21:18.140 --> 00:21:18.150 align:start position:0% elements like ZK roll-up so that they 00:21:18.150 --> 00:21:21.200 align:start position:0% elements like ZK roll-up so that they could<00:21:19.520> protect<00:21:20.520> their<00:21:20.820> customer<00:21:21.180> and 00:21:21.200 --> 00:21:21.210 align:start position:0% could protect their customer and 00:21:21.210 --> 00:21:24.040 align:start position:0% could protect their customer and consumer<00:21:21.420> information<00:21:21.810> while<00:21:22.800> offering 00:21:24.040 --> 00:21:24.050 align:start position:0% consumer information while offering 00:21:24.050 --> 00:21:26.120 align:start position:0% consumer information while offering something<00:21:25.050> on<00:21:25.140> a<00:21:25.170> public<00:21:25.590> network<00:21:25.710> with<00:21:26.010> that 00:21:26.120 --> 00:21:26.130 align:start position:0% something on a public network with that 00:21:26.130 --> 00:21:28.580 align:start position:0% something on a public network with that level<00:21:26.430> of<00:21:26.520> security<00:21:27.170> would<00:21:28.170> they<00:21:28.320> be 00:21:28.580 --> 00:21:28.590 align:start position:0% level of security would they be 00:21:28.590 --> 00:21:30.500 align:start position:0% level of security would they be interested<00:21:28.770> in<00:21:29.070> funding<00:21:29.610> research<00:21:30.150> or 00:21:30.500 --> 00:21:30.510 align:start position:0% interested in funding research or 00:21:30.510 --> 00:21:31.970 align:start position:0% interested in funding research or lending<00:21:30.810> developers<00:21:31.320> what<00:21:31.800> are<00:21:31.860> they 00:21:31.970 --> 00:21:31.980 align:start position:0% lending developers what are they 00:21:31.980 --> 00:21:33.250 align:start position:0% lending developers what are they interested<00:21:32.130> in<00:21:32.430> how<00:21:32.580> can<00:21:32.640> they<00:21:32.850> drive 00:21:33.250 --> 00:21:33.260 align:start position:0% interested in how can they drive 00:21:33.260 --> 00:21:35.860 align:start position:0% interested in how can they drive or<00:21:33.380> making<00:21:33.770> a<00:21:33.800> reality<00:21:34.490> so<00:21:35.270> in<00:21:35.390> technology 00:21:35.860 --> 00:21:35.870 align:start position:0% or making a reality so in technology 00:21:35.870 --> 00:21:38.170 align:start position:0% or making a reality so in technology movements<00:21:36.290> there's<00:21:36.620> kind<00:21:36.920> of<00:21:37.010> a<00:21:37.460> boom<00:21:37.940> bust 00:21:38.170 --> 00:21:38.180 align:start position:0% movements there's kind of a boom bust 00:21:38.180 --> 00:21:40.870 align:start position:0% movements there's kind of a boom bust cycle<00:21:38.660> of<00:21:39.040> ideas<00:21:40.040> that<00:21:40.130> get<00:21:40.280> tried<00:21:40.550> and<00:21:40.850> that 00:21:40.870 --> 00:21:40.880 align:start position:0% cycle of ideas that get tried and that 00:21:40.880 --> 00:21:42.910 align:start position:0% cycle of ideas that get tried and that eventually<00:21:41.690> as<00:21:41.810> a<00:21:41.840> space<00:21:42.080> mature<00:21:42.500> as<00:21:42.650> things 00:21:42.910 --> 00:21:42.920 align:start position:0% eventually as a space mature as things 00:21:42.920 --> 00:21:45.100 align:start position:0% eventually as a space mature as things kind<00:21:43.100> of<00:21:43.220> whittle<00:21:43.460> down<00:21:43.490> right<00:21:44.150> into<00:21:44.420> here's 00:21:45.100 --> 00:21:45.110 align:start position:0% kind of whittle down right into here's 00:21:45.110 --> 00:21:46.960 align:start position:0% kind of whittle down right into here's the<00:21:45.320> here's<00:21:45.620> the<00:21:45.680> the<00:21:46.340> architectures<00:21:46.940> the 00:21:46.960 --> 00:21:46.970 align:start position:0% the here's the the architectures the 00:21:46.970 --> 00:21:49.030 align:start position:0% the here's the the architectures the concepts<00:21:47.570> that<00:21:47.960> actually<00:21:48.350> seem<00:21:48.620> to<00:21:48.830> provide 00:21:49.030 --> 00:21:49.040 align:start position:0% concepts that actually seem to provide 00:21:49.040 --> 00:21:50.590 align:start position:0% concepts that actually seem to provide the<00:21:49.280> most<00:21:49.430> value<00:21:49.550> for<00:21:49.970> the<00:21:50.060> least<00:21:50.240> amount<00:21:50.450> of 00:21:50.590 --> 00:21:50.600 align:start position:0% the most value for the least amount of 00:21:50.600 --> 00:21:52.000 align:start position:0% the most value for the least amount of lines<00:21:51.050> of<00:21:51.230> code<00:21:51.380> at<00:21:51.530> least<00:21:51.560> amount<00:21:51.890> of 00:21:52.000 --> 00:21:52.010 align:start position:0% lines of code at least amount of 00:21:52.010 --> 00:21:54.790 align:start position:0% lines of code at least amount of complexity<00:21:52.370> right<00:21:52.900> and<00:21:53.900> I<00:21:54.020> would<00:21:54.230> argue<00:21:54.500> in 00:21:54.790 --> 00:21:54.800 align:start position:0% complexity right and I would argue in 00:21:54.800 --> 00:21:56.650 align:start position:0% complexity right and I would argue in 2016<00:21:55.460> we<00:21:55.670> didn't<00:21:55.880> know<00:21:55.940> what<00:21:56.060> those<00:21:56.240> are 00:21:56.650 --> 00:21:56.660 align:start position:0% 2016 we didn't know what those are 00:21:56.660 --> 00:21:58.780 align:start position:0% 2016 we didn't know what those are I'd<00:21:56.870> say<00:21:57.020> argue<00:21:57.350> in<00:21:57.470> 2019<00:21:58.100> we<00:21:58.310> still<00:21:58.520> haven't 00:21:58.780 --> 00:21:58.790 align:start position:0% I'd say argue in 2019 we still haven't 00:21:58.790 --> 00:22:00.850 align:start position:0% I'd say argue in 2019 we still haven't figured<00:21:59.240> out<00:21:59.480> what<00:21:59.600> that<00:21:59.630> final<00:21:59.990> set<00:22:00.350> is<00:22:00.530> right 00:22:00.850 --> 00:22:00.860 align:start position:0% figured out what that final set is right 00:22:00.860 --> 00:22:03.460 align:start position:0% figured out what that final set is right and<00:22:01.070> so<00:22:01.340> I<00:22:01.930> innovation<00:22:02.930> can't<00:22:03.170> just<00:22:03.350> be<00:22:03.440> about 00:22:03.460 --> 00:22:03.470 align:start position:0% and so I innovation can't just be about 00:22:03.470 --> 00:22:05.620 align:start position:0% and so I innovation can't just be about hey<00:22:04.130> we've<00:22:04.280> come<00:22:04.430> up<00:22:04.460> with<00:22:04.550> a<00:22:04.700> new<00:22:05.000> idea<00:22:05.180> it 00:22:05.620 --> 00:22:05.630 align:start position:0% hey we've come up with a new idea it 00:22:05.630 --> 00:22:07.000 align:start position:0% hey we've come up with a new idea it should<00:22:05.900> be<00:22:06.020> about<00:22:06.230> like<00:22:06.650> how<00:22:06.860> do<00:22:06.920> we 00:22:07.000 --> 00:22:07.010 align:start position:0% should be about like how do we 00:22:07.010 --> 00:22:08.890 align:start position:0% should be about like how do we systematically<00:22:07.520> try<00:22:07.940> to<00:22:08.000> map<00:22:08.300> the<00:22:08.480> solution 00:22:08.890 --> 00:22:08.900 align:start position:0% systematically try to map the solution 00:22:08.900 --> 00:22:10.660 align:start position:0% systematically try to map the solution space<00:22:09.020> give<00:22:09.860> those<00:22:10.190> who<00:22:10.370> are<00:22:10.460> passionate 00:22:10.660 --> 00:22:10.670 align:start position:0% space give those who are passionate 00:22:10.670 --> 00:22:12.550 align:start position:0% space give those who are passionate about<00:22:11.000> these<00:22:11.240> different<00:22:11.570> ideas<00:22:11.900> the<00:22:12.290> free 00:22:12.550 --> 00:22:12.560 align:start position:0% about these different ideas the free 00:22:12.560 --> 00:22:14.350 align:start position:0% about these different ideas the free reign<00:22:12.800> to<00:22:13.070> kind<00:22:13.280> of<00:22:13.400> build<00:22:13.610> their<00:22:13.760> own<00:22:13.940> kind<00:22:14.330> of 00:22:14.350 --> 00:22:14.360 align:start position:0% reign to kind of build their own kind of 00:22:14.360 --> 00:22:16.300 align:start position:0% reign to kind of build their own kind of roadmaps<00:22:14.780> decide<00:22:15.140> which<00:22:15.320> parts<00:22:15.860> that<00:22:16.040> problem 00:22:16.300 --> 00:22:16.310 align:start position:0% roadmaps decide which parts that problem 00:22:16.310 --> 00:22:17.950 align:start position:0% roadmaps decide which parts that problem they<00:22:16.400> want<00:22:16.550> to<00:22:16.640> tackle<00:22:16.970> first<00:22:17.000> which<00:22:17.690> ones 00:22:17.950 --> 00:22:17.960 align:start position:0% they want to tackle first which ones 00:22:17.960 --> 00:22:19.450 align:start position:0% they want to tackle first which ones they're<00:22:18.140> happy<00:22:18.410> to<00:22:18.500> say<00:22:18.680> here's<00:22:18.950> a<00:22:19.010> one<00:22:19.220> dot<00:22:19.430> oh 00:22:19.450 --> 00:22:19.460 align:start position:0% they're happy to say here's a one dot oh 00:22:19.460 --> 00:22:21.250 align:start position:0% they're happy to say here's a one dot oh right<00:22:20.000> here's<00:22:20.300> something<00:22:20.510> that<00:22:20.750> now<00:22:20.900> I'm 00:22:21.250 --> 00:22:21.260 align:start position:0% right here's something that now I'm 00:22:21.260 --> 00:22:23.590 align:start position:0% right here's something that now I'm comfortable<00:22:21.920> you<00:22:22.130> use<00:22:22.370> with<00:22:22.730> you<00:22:22.910> using<00:22:23.450> my 00:22:23.590 --> 00:22:23.600 align:start position:0% comfortable you use with you using my 00:22:23.600 --> 00:22:25.300 align:start position:0% comfortable you use with you using my software<00:22:23.900> completely<00:22:24.890> without<00:22:25.130> my 00:22:25.300 --> 00:22:25.310 align:start position:0% software completely without my 00:22:25.310 --> 00:22:27.460 align:start position:0% software completely without my involvement<00:22:25.850> to<00:22:26.150> track<00:22:26.390> digital<00:22:26.810> assets<00:22:27.200> like 00:22:27.460 --> 00:22:27.470 align:start position:0% involvement to track digital assets like 00:22:27.470 --> 00:22:29.830 align:start position:0% involvement to track digital assets like that's<00:22:27.710> like<00:22:27.890> a<00:22:27.920> big<00:22:28.520> kind<00:22:28.790> of<00:22:28.880> like<00:22:29.060> sort 00:22:29.830 --> 00:22:29.840 align:start position:0% that's like a big kind of like sort 00:22:29.840 --> 00:22:31.780 align:start position:0% that's like a big kind of like sort threshold<00:22:30.320> right<00:22:30.500> but<00:22:31.010> let's<00:22:31.190> try<00:22:31.430> a<00:22:31.520> number 00:22:31.780 --> 00:22:31.790 align:start position:0% threshold right but let's try a number 00:22:31.790 --> 00:22:33.790 align:start position:0% threshold right but let's try a number of<00:22:31.850> these<00:22:31.940> experiments<00:22:32.510> let's<00:22:32.750> allow<00:22:33.200> Darwin 00:22:33.790 --> 00:22:33.800 align:start position:0% of these experiments let's allow Darwin 00:22:33.800 --> 00:22:36.160 align:start position:0% of these experiments let's allow Darwin to<00:22:33.920> kind<00:22:34.100> of<00:22:34.160> play<00:22:34.340> allow<00:22:35.000> I<00:22:35.030> you<00:22:35.870> know<00:22:35.990> those 00:22:36.160 --> 00:22:36.170 align:start position:0% to kind of play allow I you know those 00:22:36.170 --> 00:22:39.250 align:start position:0% to kind of play allow I you know those that<00:22:36.410> succeed<00:22:36.620> to<00:22:37.490> keep<00:22:38.390> iterating<00:22:38.570> and<00:22:39.020> going 00:22:39.250 --> 00:22:39.260 align:start position:0% that succeed to keep iterating and going 00:22:39.260 --> 00:22:40.840 align:start position:0% that succeed to keep iterating and going for<00:22:39.410> it<00:22:39.470> forward<00:22:39.860> but<00:22:40.250> the<00:22:40.310> real<00:22:40.460> question<00:22:40.760> is 00:22:40.840 --> 00:22:40.850 align:start position:0% for it forward but the real question is 00:22:40.850 --> 00:22:41.800 align:start position:0% for it forward but the real question is how<00:22:40.970> do<00:22:41.030> we<00:22:41.120> make<00:22:41.240> sure<00:22:41.360> to<00:22:41.450> make<00:22:41.570> sure<00:22:41.720> that 00:22:41.800 --> 00:22:41.810 align:start position:0% how do we make sure to make sure that 00:22:41.810 --> 00:22:43.750 align:start position:0% how do we make sure to make sure that good<00:22:41.990> ideas<00:22:42.440> that<00:22:42.470> are<00:22:42.770> embedded<00:22:43.010> inside<00:22:43.400> of 00:22:43.750 --> 00:22:43.760 align:start position:0% good ideas that are embedded inside of 00:22:43.760 --> 00:22:45.220 align:start position:0% good ideas that are embedded inside of the<00:22:43.820> projects<00:22:44.240> that<00:22:44.420> don't<00:22:44.720> achieve<00:22:45.050> that 00:22:45.220 --> 00:22:45.230 align:start position:0% the projects that don't achieve that 00:22:45.230 --> 00:22:46.870 align:start position:0% the projects that don't achieve that kind<00:22:45.260> of<00:22:45.410> critical<00:22:45.800> mass<00:22:45.830> don't<00:22:46.520> just<00:22:46.760> get 00:22:46.870 --> 00:22:46.880 align:start position:0% kind of critical mass don't just get 00:22:46.880 --> 00:22:49.840 align:start position:0% kind of critical mass don't just get lost<00:22:47.090> or<00:22:47.510> don't<00:22:47.810> get<00:22:47.990> I<00:22:48.490> you<00:22:49.490> know<00:22:49.580> kind<00:22:49.790> of 00:22:49.840 --> 00:22:49.850 align:start position:0% lost or don't get I you know kind of 00:22:49.850 --> 00:22:52.630 align:start position:0% lost or don't get I you know kind of just<00:22:50.390> dismissed<00:22:51.380> because<00:22:51.860> they<00:22:52.280> haven't<00:22:52.460> had 00:22:52.630 --> 00:22:52.640 align:start position:0% just dismissed because they haven't had 00:22:52.640 --> 00:22:54.460 align:start position:0% just dismissed because they haven't had the<00:22:52.760> wrong<00:22:52.910> brand<00:22:53.660> on<00:22:53.870> them<00:22:54.080> the<00:22:54.290> wrong 00:22:54.460 --> 00:22:54.470 align:start position:0% the wrong brand on them the wrong 00:22:54.470 --> 00:22:56.650 align:start position:0% the wrong brand on them the wrong license<00:22:55.010> the<00:22:55.250> wrong<00:22:55.460> set<00:22:56.180> of<00:22:56.300> characters 00:22:56.650 --> 00:22:56.660 align:start position:0% license the wrong set of characters 00:22:56.660 --> 00:22:58.000 align:start position:0% license the wrong set of characters around<00:22:56.840> them<00:22:57.020> how<00:22:57.140> do<00:22:57.200> we<00:22:57.290> use<00:22:57.440> that<00:22:57.470> as<00:22:57.710> mulch 00:22:58.000 --> 00:22:58.010 align:start position:0% around them how do we use that as mulch 00:22:58.010 --> 00:23:00.160 align:start position:0% around them how do we use that as mulch for<00:22:58.520> the<00:22:58.730> other<00:22:58.880> projects<00:22:59.420> that<00:22:59.450> do<00:22:59.690> continue 00:23:00.160 --> 00:23:00.170 align:start position:0% for the other projects that do continue 00:23:00.170 --> 00:23:01.300 align:start position:0% for the other projects that do continue to<00:23:00.320> go<00:23:00.440> forward<00:23:00.740> and<00:23:00.800> move<00:23:00.950> on 00:23:01.300 --> 00:23:01.310 align:start position:0% to go forward and move on 00:23:01.310 --> 00:23:03.130 align:start position:0% to go forward and move on which<00:23:01.490> was<00:23:01.700> at<00:23:02.090> least<00:23:02.270> our<00:23:02.420> rationale<00:23:02.840> inside 00:23:03.130 --> 00:23:03.140 align:start position:0% which was at least our rationale inside 00:23:03.140 --> 00:23:04.570 align:start position:0% which was at least our rationale inside of<00:23:03.260> hyper<00:23:03.410> ledger<00:23:03.650> for<00:23:03.860> having<00:23:04.160> this<00:23:04.280> kind<00:23:04.490> of 00:23:04.570 --> 00:23:04.580 align:start position:0% of hyper ledger for having this kind of 00:23:04.580 --> 00:23:06.990 align:start position:0% of hyper ledger for having this kind of greenhouse<00:23:04.810> metaphor<00:23:05.810> for<00:23:06.200> these<00:23:06.440> different 00:23:06.990 --> 00:23:07.000 align:start position:0% greenhouse metaphor for these different 00:23:07.000 --> 00:23:09.370 align:start position:0% greenhouse metaphor for these different projects<00:23:08.000> right<00:23:08.210> and<00:23:08.420> some<00:23:08.900> of<00:23:09.020> them<00:23:09.170> have 00:23:09.370 --> 00:23:09.380 align:start position:0% projects right and some of them have 00:23:09.380 --> 00:23:11.410 align:start position:0% projects right and some of them have turned<00:23:09.590> out<00:23:09.710> very<00:23:09.740> well<00:23:10.130> like<00:23:10.460> hyper<00:23:11.120> ledger 00:23:11.410 --> 00:23:11.420 align:start position:0% turned out very well like hyper ledger 00:23:11.420 --> 00:23:13.720 align:start position:0% turned out very well like hyper ledger indie<00:23:11.750> which<00:23:11.900> again<00:23:12.320> hyper<00:23:13.160> focused<00:23:13.610> on 00:23:13.720 --> 00:23:13.730 align:start position:0% indie which again hyper focused on 00:23:13.730 --> 00:23:16.480 align:start position:0% indie which again hyper focused on identity<00:23:14.150> has<00:23:14.630> been<00:23:14.780> able<00:23:15.080> to<00:23:15.290> let<00:23:15.410> go<00:23:15.440> and<00:23:15.860> not 00:23:16.480 --> 00:23:16.490 align:start position:0% identity has been able to let go and not 00:23:16.490 --> 00:23:18.580 align:start position:0% identity has been able to let go and not have<00:23:16.790> to<00:23:16.940> bother<00:23:17.120> with<00:23:17.330> upgrading<00:23:18.200> the<00:23:18.290> entire 00:23:18.580 --> 00:23:18.590 align:start position:0% have to bother with upgrading the entire 00:23:18.590 --> 00:23:20.080 align:start position:0% have to bother with upgrading the entire world<00:23:18.890> every<00:23:19.340> time<00:23:19.490> they<00:23:19.610> want<00:23:19.760> to<00:23:19.820> try<00:23:20.030> to 00:23:20.080 --> 00:23:20.090 align:start position:0% world every time they want to try to 00:23:20.090 --> 00:23:22.660 align:start position:0% world every time they want to try to invent<00:23:21.080> some<00:23:21.260> new<00:23:21.290> topic<00:23:21.710> or<00:23:21.860> throw<00:23:22.220> away<00:23:22.250> an 00:23:22.660 --> 00:23:22.670 align:start position:0% invent some new topic or throw away an 00:23:22.670 --> 00:23:23.830 align:start position:0% invent some new topic or throw away an experiment<00:23:23.090> that<00:23:23.180> they<00:23:23.270> did<00:23:23.450> that<00:23:23.480> didn't 00:23:23.830 --> 00:23:23.840 align:start position:0% experiment that they did that didn't 00:23:23.840 --> 00:23:26.200 align:start position:0% experiment that they did that didn't actually<00:23:23.990> turn<00:23:24.290> out<00:23:24.470> well<00:23:24.680> right<00:23:25.060> and<00:23:26.060> other 00:23:26.200 --> 00:23:26.210 align:start position:0% actually turn out well right and other 00:23:26.210 --> 00:23:27.850 align:start position:0% actually turn out well right and other projects<00:23:26.690> like<00:23:26.720> hyper<00:23:27.020> ledger<00:23:27.320> quilt<00:23:27.620> which 00:23:27.850 --> 00:23:27.860 align:start position:0% projects like hyper ledger quilt which 00:23:27.860 --> 00:23:29.440 align:start position:0% projects like hyper ledger quilt which has<00:23:28.010> been<00:23:28.160> our<00:23:28.280> implementation<00:23:28.850> of<00:23:28.940> the<00:23:29.000> ILP 00:23:29.440 --> 00:23:29.450 align:start position:0% has been our implementation of the ILP 00:23:29.450 --> 00:23:31.210 align:start position:0% has been our implementation of the ILP standard<00:23:29.840> which<00:23:30.230> just<00:23:30.530> kind<00:23:30.740> of<00:23:30.830> failed<00:23:31.070> to 00:23:31.210 --> 00:23:31.220 align:start position:0% standard which just kind of failed to 00:23:31.220 --> 00:23:33.280 align:start position:0% standard which just kind of failed to get<00:23:31.310> anybody<00:23:31.670> excited<00:23:31.970> about<00:23:32.330> it<00:23:32.570> right<00:23:32.810> I<00:23:33.080> I 00:23:33.280 --> 00:23:33.290 align:start position:0% get anybody excited about it right I I 00:23:33.290 --> 00:23:35.830 align:start position:0% get anybody excited about it right I I mean<00:23:34.010> I'm<00:23:34.520> following<00:23:35.150> closely<00:23:35.300> stuff<00:23:35.660> going 00:23:35.830 --> 00:23:35.840 align:start position:0% mean I'm following closely stuff going 00:23:35.840 --> 00:23:37.630 align:start position:0% mean I'm following closely stuff going on<00:23:35.900> that<00:23:36.020> at<00:23:36.080> IBC<00:23:36.350> and<00:23:36.800> with<00:23:36.950> cosmos<00:23:37.370> and<00:23:37.550> that 00:23:37.630 --> 00:23:37.640 align:start position:0% on that at IBC and with cosmos and that 00:23:37.640 --> 00:23:40.090 align:start position:0% on that at IBC and with cosmos and that sort<00:23:37.820> of<00:23:37.880> thing<00:23:38.000> I<00:23:38.060> think<00:23:38.090> that's<00:23:38.270> great<00:23:38.570> but<00:23:39.440> a 00:23:40.090 --> 00:23:40.100 align:start position:0% sort of thing I think that's great but a 00:23:40.100 --> 00:23:41.620 align:start position:0% sort of thing I think that's great but a that<00:23:40.190> was<00:23:40.280> experiment<00:23:40.730> we<00:23:40.789> tried<00:23:41.030> and<00:23:41.480> it's 00:23:41.620 --> 00:23:41.630 align:start position:0% that was experiment we tried and it's 00:23:41.630 --> 00:23:43.600 align:start position:0% that was experiment we tried and it's still<00:23:41.809> alive<00:23:42.020> you<00:23:42.380> can<00:23:42.590> all<00:23:42.710> go<00:23:43.160> check<00:23:43.190> it<00:23:43.520> out 00:23:43.600 --> 00:23:43.610 align:start position:0% still alive you can all go check it out 00:23:43.610 --> 00:23:46.210 align:start position:0% still alive you can all go check it out still<00:23:43.880> and<00:23:43.910> use<00:23:44.240> it<00:23:44.419> but<00:23:44.570> uh<00:23:44.600> it's<00:23:45.350> you<00:23:45.830> have<00:23:46.070> to 00:23:46.210 --> 00:23:46.220 align:start position:0% still and use it but uh it's you have to 00:23:46.220 --> 00:23:47.500 align:start position:0% still and use it but uh it's you have to be<00:23:46.340> able<00:23:46.429> to<00:23:46.640> like<00:23:46.760> be<00:23:46.910> willing<00:23:47.150> to<00:23:47.240> take<00:23:47.360> these 00:23:47.500 --> 00:23:47.510 align:start position:0% be able to like be willing to take these 00:23:47.510 --> 00:23:49.000 align:start position:0% be able to like be willing to take these experiments<00:23:48.080> and<00:23:48.169> wrists<00:23:48.440> and<00:23:48.559> I<00:23:48.650> see<00:23:48.860> our 00:23:49.000 --> 00:23:49.010 align:start position:0% experiments and wrists and I see our 00:23:49.010 --> 00:23:51.070 align:start position:0% experiments and wrists and I see our role<00:23:49.309> as<00:23:49.610> being<00:23:50.240> very<00:23:50.360> much<00:23:50.510> about<00:23:50.720> provide 00:23:51.070 --> 00:23:51.080 align:start position:0% role as being very much about provide 00:23:51.080 --> 00:23:52.990 align:start position:0% role as being very much about provide that<00:23:51.260> space<00:23:51.410> allow<00:23:51.919> people<00:23:52.130> to<00:23:52.250> evolve<00:23:52.580> but 00:23:52.990 --> 00:23:53.000 align:start position:0% that space allow people to evolve but 00:23:53.000 --> 00:23:54.820 align:start position:0% that space allow people to evolve but put<00:23:53.270> these<00:23:53.570> projects<00:23:54.020> kind<00:23:54.200> of<00:23:54.320> on<00:23:54.410> a<00:23:54.440> conveyor 00:23:54.820 --> 00:23:54.830 align:start position:0% put these projects kind of on a conveyor 00:23:54.830 --> 00:23:56.620 align:start position:0% put these projects kind of on a conveyor belt<00:23:54.950> to<00:23:55.340> a<00:23:55.370> one<00:23:55.789> dot<00:23:55.970> o<00:23:56.000> release<00:23:56.419> and 00:23:56.620 --> 00:23:56.630 align:start position:0% belt to a one dot o release and 00:23:56.630 --> 00:23:58.930 align:start position:0% belt to a one dot o release and eventually<00:23:56.960> something<00:23:57.320> that<00:23:57.940> conservative 00:23:58.930 --> 00:23:58.940 align:start position:0% eventually something that conservative 00:23:58.940 --> 00:24:00.850 align:start position:0% eventually something that conservative organizations<00:23:59.630> you<00:23:59.900> know<00:23:59.929> who<00:24:00.169> don't<00:24:00.440> like<00:24:00.679> to 00:24:00.850 --> 00:24:00.860 align:start position:0% organizations you know who don't like to 00:24:00.860 --> 00:24:03.070 align:start position:0% organizations you know who don't like to upgrade<00:24:01.250> every<00:24:01.490> month<00:24:01.669> who<00:24:02.450> don't<00:24:02.720> want<00:24:03.020> to 00:24:03.070 --> 00:24:03.080 align:start position:0% upgrade every month who don't want to 00:24:03.080 --> 00:24:04.720 align:start position:0% upgrade every month who don't want to necessarily<00:24:03.410> worry<00:24:03.890> about<00:24:04.070> a<00:24:04.100> hard<00:24:04.460> court 00:24:04.720 --> 00:24:04.730 align:start position:0% necessarily worry about a hard court 00:24:04.730 --> 00:24:06.940 align:start position:0% necessarily worry about a hard court forcing<00:24:05.270> them<00:24:05.390> to<00:24:05.600> have<00:24:05.960> to<00:24:06.110> upgrade<00:24:06.260> systems 00:24:06.940 --> 00:24:06.950 align:start position:0% forcing them to have to upgrade systems 00:24:06.950 --> 00:24:08.950 align:start position:0% forcing them to have to upgrade systems right<00:24:07.309> tomorrow<00:24:07.910> right<00:24:08.150> or<00:24:08.330> even<00:24:08.720> at<00:24:08.929> a 00:24:08.950 --> 00:24:08.960 align:start position:0% right tomorrow right or even at a 00:24:08.960 --> 00:24:10.750 align:start position:0% right tomorrow right or even at a pre-planned<00:24:09.740> time<00:24:10.070> six<00:24:10.370> months<00:24:10.429> in<00:24:10.700> advance 00:24:10.750 --> 00:24:10.760 align:start position:0% pre-planned time six months in advance 00:24:10.760 --> 00:24:12.250 align:start position:0% pre-planned time six months in advance like<00:24:11.210> they<00:24:11.390> want<00:24:11.570> to<00:24:11.600> be<00:24:11.660> a<00:24:11.720> little<00:24:11.990> bit<00:24:12.110> more 00:24:12.250 --> 00:24:12.260 align:start position:0% like they want to be a little bit more 00:24:12.260 --> 00:24:14.049 align:start position:0% like they want to be a little bit more in<00:24:12.320> control<00:24:12.380> of<00:24:12.830> the<00:24:12.890> rate<00:24:13.400> of<00:24:13.580> change<00:24:13.610> on 00:24:14.049 --> 00:24:14.059 align:start position:0% in control of the rate of change on 00:24:14.059 --> 00:24:15.970 align:start position:0% in control of the rate of change on their<00:24:14.150> networks<00:24:14.480> right<00:24:14.720> how<00:24:15.530> do<00:24:15.590> we<00:24:15.679> get<00:24:15.830> them 00:24:15.970 --> 00:24:15.980 align:start position:0% their networks right how do we get them 00:24:15.980 --> 00:24:17.320 align:start position:0% their networks right how do we get them comfortable<00:24:16.400> with<00:24:16.460> the<00:24:16.549> idea<00:24:16.669> of<00:24:16.850> using<00:24:17.059> this 00:24:17.320 --> 00:24:17.330 align:start position:0% comfortable with the idea of using this 00:24:17.330 --> 00:24:19.270 align:start position:0% comfortable with the idea of using this technology<00:24:17.690> when<00:24:18.200> it's<00:24:18.350> appropriate<00:24:18.740> when 00:24:19.270 --> 00:24:19.280 align:start position:0% technology when it's appropriate when 00:24:19.280 --> 00:24:21.549 align:start position:0% technology when it's appropriate when it's<00:24:19.429> not<00:24:19.580> appropriate<00:24:20.059> right<00:24:20.260> and<00:24:21.260> kind<00:24:21.470> of 00:24:21.549 --> 00:24:21.559 align:start position:0% it's not appropriate right and kind of 00:24:21.559 --> 00:24:22.750 align:start position:0% it's not appropriate right and kind of provide<00:24:21.799> training<00:24:22.220> wheels<00:24:22.429> for<00:24:22.640> these 00:24:22.750 --> 00:24:22.760 align:start position:0% provide training wheels for these 00:24:22.760 --> 00:24:24.370 align:start position:0% provide training wheels for these organizations<00:24:23.090> so<00:24:23.510> they<00:24:23.539> can<00:24:23.750> eventually<00:24:23.990> get 00:24:24.370 --> 00:24:24.380 align:start position:0% organizations so they can eventually get 00:24:24.380 --> 00:24:25.870 align:start position:0% organizations so they can eventually get caught<00:24:24.440> up<00:24:24.770> to<00:24:25.159> the<00:24:25.250> more<00:24:25.370> forward-leaning 00:24:25.870 --> 00:24:25.880 align:start position:0% caught up to the more forward-leaning 00:24:25.880 --> 00:24:28.120 align:start position:0% caught up to the more forward-leaning organizations<00:24:26.690> like<00:24:26.840> those<00:24:27.049> of<00:24:27.200> you<00:24:27.289> who<00:24:27.409> got 00:24:28.120 --> 00:24:28.130 align:start position:0% organizations like those of you who got 00:24:28.130 --> 00:24:31.570 align:start position:0% organizations like those of you who got you<00:24:28.309> I'm<00:24:28.700> gonna<00:24:28.880> kick<00:24:29.150> the<00:24:29.270> justin<00:24:29.659> the<00:24:30.580> coming 00:24:31.570 --> 00:24:31.580 align:start position:0% you I'm gonna kick the justin the coming 00:24:31.580 --> 00:24:33.640 align:start position:0% you I'm gonna kick the justin the coming off<00:24:31.700> of<00:24:31.730> this<00:24:32.059> there<00:24:32.720> are<00:24:32.870> I've<00:24:33.230> heard<00:24:33.409> some 00:24:33.640 --> 00:24:33.650 align:start position:0% off of this there are I've heard some 00:24:33.650 --> 00:24:37.360 align:start position:0% off of this there are I've heard some talk<00:24:33.860> of<00:24:34.150> large<00:24:35.169> larger<00:24:36.220> organizations<00:24:37.220> in 00:24:37.360 --> 00:24:37.370 align:start position:0% talk of large larger organizations in 00:24:37.370 --> 00:24:39.250 align:start position:0% talk of large larger organizations in the<00:24:37.490> public<00:24:37.789> space<00:24:38.059> that<00:24:38.600> are<00:24:38.720> replicating 00:24:39.250 --> 00:24:39.260 align:start position:0% the public space that are replicating 00:24:39.260 --> 00:24:43.419 align:start position:0% the public space that are replicating efforts<00:24:40.600> whether<00:24:41.600> it<00:24:41.809> be<00:24:41.960> research<00:24:42.799> Lapita<00:24:43.309> be 00:24:43.419 --> 00:24:43.429 align:start position:0% efforts whether it be research Lapita be 00:24:43.429 --> 00:24:48.070 align:start position:0% efforts whether it be research Lapita be waz<00:24:43.730> and<00:24:43.940> research<00:24:45.730> so<00:24:46.730> coming<00:24:47.030> off<00:24:47.150> of<00:24:47.419> what 00:24:48.070 --> 00:24:48.080 align:start position:0% waz and research so coming off of what 00:24:48.080 --> 00:24:49.810 align:start position:0% waz and research so coming off of what Brian's<00:24:48.559> spoken<00:24:48.950> about<00:24:49.039> and<00:24:49.340> flipping<00:24:49.730> the 00:24:49.810 --> 00:24:49.820 align:start position:0% Brian's spoken about and flipping the 00:24:49.820 --> 00:24:53.380 align:start position:0% Brian's spoken about and flipping the question<00:24:50.120> on<00:24:50.210> its<00:24:50.360> head<00:24:51.460> there's<00:24:52.460> to<00:24:53.120> some 00:24:53.380 --> 00:24:53.390 align:start position:0% question on its head there's to some 00:24:53.390 --> 00:24:56.409 align:start position:0% question on its head there's to some extent<00:24:53.809> a<00:24:54.049> million<00:24:54.620> developers<00:24:55.039> aside<00:24:55.419> limit 00:24:56.409 --> 00:24:56.419 align:start position:0% extent a million developers aside limit 00:24:56.419 --> 00:24:58.240 align:start position:0% extent a million developers aside limit on<00:24:56.510> mine<00:24:56.780> share<00:24:57.110> of<00:24:57.230> those<00:24:57.440> that<00:24:57.620> are<00:24:57.710> able<00:24:58.100> to 00:24:58.240 --> 00:24:58.250 align:start position:0% on mine share of those that are able to 00:24:58.250 --> 00:25:01.620 align:start position:0% on mine share of those that are able to develop<00:24:58.820> at<00:24:59.000> the<00:24:59.260> core<00:25:00.260> of<00:25:00.289> the<00:25:00.409> core<00:25:00.559> right 00:25:01.620 --> 00:25:01.630 align:start position:0% develop at the core of the core right 00:25:01.630 --> 00:25:06.210 align:start position:0% develop at the core of the core right what<00:25:02.630> would<00:25:02.840> you<00:25:02.990> find<00:25:03.200> beneficial<00:25:03.909> from 00:25:06.210 --> 00:25:06.220 align:start position:0% what would you find beneficial from 00:25:06.220 --> 00:25:08.919 align:start position:0% what would you find beneficial from let's<00:25:07.220> say<00:25:07.400> both<00:25:07.640> enterprises<00:25:07.970> and<00:25:08.570> other 00:25:08.919 --> 00:25:08.929 align:start position:0% let's say both enterprises and other 00:25:08.929 --> 00:25:11.680 align:start position:0% let's say both enterprises and other public<00:25:09.710> blockchain<00:25:10.100> ecosystems<00:25:10.700> in<00:25:11.059> regard 00:25:11.680 --> 00:25:11.690 align:start position:0% public blockchain ecosystems in regard 00:25:11.690 --> 00:25:13.240 align:start position:0% public blockchain ecosystems in regard to<00:25:11.780> interoperability<00:25:12.409> or<00:25:12.559> collaboration 00:25:13.240 --> 00:25:13.250 align:start position:0% to interoperability or collaboration 00:25:13.250 --> 00:25:18.070 align:start position:0% to interoperability or collaboration collaborative<00:25:14.000> efforts<00:25:14.770> to<00:25:15.770> help<00:25:16.330> both<00:25:17.330> be 00:25:18.070 --> 00:25:18.080 align:start position:0% collaborative efforts to help both be 00:25:18.080 --> 00:25:19.960 align:start position:0% collaborative efforts to help both be able<00:25:18.289> to<00:25:18.409> produce<00:25:19.010> what<00:25:19.400> they're<00:25:19.549> looking<00:25:19.820> for 00:25:19.960 --> 00:25:19.970 align:start position:0% able to produce what they're looking for 00:25:19.970 --> 00:25:23.640 align:start position:0% able to produce what they're looking for and<00:25:20.150> to<00:25:20.870> avoid<00:25:21.280> replication<00:25:22.280> of<00:25:22.880> efforts 00:25:23.640 --> 00:25:23.650 align:start position:0% and to avoid replication of efforts 00:25:23.650 --> 00:25:26.169 align:start position:0% and to avoid replication of efforts right<00:25:24.650> so<00:25:24.860> I<00:25:25.159> mean<00:25:25.340> after<00:25:25.520> this<00:25:25.760> panel<00:25:25.909> I<00:25:26.090> have 00:25:26.169 --> 00:25:26.179 align:start position:0% right so I mean after this panel I have 00:25:26.179 --> 00:25:27.850 align:start position:0% right so I mean after this panel I have a<00:25:26.240> whole<00:25:26.419> talk<00:25:26.630> on<00:25:26.870> collaboration 00:25:27.850 --> 00:25:27.860 align:start position:0% a whole talk on collaboration 00:25:27.860 --> 00:25:31.750 align:start position:0% a whole talk on collaboration and<00:25:29.470> you<00:25:30.470> know<00:25:30.590> there's<00:25:30.950> there's<00:25:31.400> many<00:25:31.490> things 00:25:31.750 --> 00:25:31.760 align:start position:0% and you know there's there's many things 00:25:31.760 --> 00:25:35.409 align:start position:0% and you know there's there's many things we<00:25:31.880> can<00:25:32.120> do<00:25:32.270> we<00:25:32.510> can<00:25:32.860> you<00:25:33.860> know<00:25:33.980> at<00:25:34.280> we<00:25:35.090> can<00:25:35.179> try 00:25:35.409 --> 00:25:35.419 align:start position:0% we can do we can you know at we can try 00:25:35.419 --> 00:25:38.440 align:start position:0% we can do we can you know at we can try and<00:25:35.600> focus<00:25:35.809> on<00:25:36.340> low<00:25:37.340> level<00:25:37.370> components<00:25:38.210> which 00:25:38.440 --> 00:25:38.450 align:start position:0% and focus on low level components which 00:25:38.450 --> 00:25:40.360 align:start position:0% and focus on low level components which are<00:25:38.600> very<00:25:38.780> modular<00:25:39.070> things<00:25:40.070> that<00:25:40.280> are 00:25:40.360 --> 00:25:40.370 align:start position:0% are very modular things that are 00:25:40.370 --> 00:25:44.500 align:start position:0% are very modular things that are designed<00:25:40.490> to<00:25:40.730> be<00:25:40.820> reused<00:25:41.860> we<00:25:42.860> can<00:25:43.070> try<00:25:43.370> and<00:25:43.760> you 00:25:44.500 --> 00:25:44.510 align:start position:0% designed to be reused we can try and you 00:25:44.510 --> 00:25:46.930 align:start position:0% designed to be reused we can try and you know<00:25:44.600> at<00:25:44.780> at<00:25:45.140> the<00:25:45.289> legal<00:25:45.620> level<00:25:45.799> try<00:25:46.549> and<00:25:46.700> avoid 00:25:46.930 --> 00:25:46.940 align:start position:0% know at at the legal level try and avoid 00:25:46.940 --> 00:25:49.149 align:start position:0% know at at the legal level try and avoid things<00:25:47.360> like<00:25:47.450> bad<00:25:48.080> licenses<00:25:48.679> even<00:25:48.710> bad 00:25:49.149 --> 00:25:49.159 align:start position:0% things like bad licenses even bad 00:25:49.159 --> 00:25:50.850 align:start position:0% things like bad licenses even bad open-source<00:25:49.640> licenses 00:25:50.850 --> 00:25:50.860 align:start position:0% open-source licenses 00:25:50.860 --> 00:25:54.330 align:start position:0% open-source licenses we<00:25:51.370> can<00:25:51.580> try<00:25:51.880> and<00:25:51.990> avoid<00:25:52.990> patents<00:25:53.500> can<00:25:54.070> try<00:25:54.220> and 00:25:54.330 --> 00:25:54.340 align:start position:0% we can try and avoid patents can try and 00:25:54.340 --> 00:25:58.830 align:start position:0% we can try and avoid patents can try and avoid<00:25:54.520> things<00:25:54.910> like<00:25:54.970> trademarks<00:25:55.600> and<00:25:55.750> ndas<00:25:57.840> we 00:25:58.830 --> 00:25:58.840 align:start position:0% avoid things like trademarks and ndas we 00:25:58.840 --> 00:26:03.900 align:start position:0% avoid things like trademarks and ndas we can<00:25:59.110> also<00:26:00.330> you<00:26:01.330> know<00:26:02.160> be<00:26:03.160> open<00:26:03.190> from<00:26:03.790> the 00:26:03.900 --> 00:26:03.910 align:start position:0% can also you know be open from the 00:26:03.910 --> 00:26:06.570 align:start position:0% can also you know be open from the get-go<00:26:04.090> you<00:26:04.990> know<00:26:05.410> at<00:26:05.620> the<00:26:05.830> risk<00:26:05.860> of<00:26:06.190> being<00:26:06.400> a 00:26:06.570 --> 00:26:06.580 align:start position:0% get-go you know at the risk of being a 00:26:06.580 --> 00:26:09.090 align:start position:0% get-go you know at the risk of being a bit<00:26:06.880> more<00:26:07.030> chaotic<00:26:07.210> and<00:26:07.720> messy<00:26:07.810> try<00:26:08.650> and<00:26:08.800> open 00:26:09.090 --> 00:26:09.100 align:start position:0% bit more chaotic and messy try and open 00:26:09.100 --> 00:26:11.670 align:start position:0% bit more chaotic and messy try and open up<00:26:09.220> your<00:26:09.340> doors<00:26:09.840> so<00:26:10.840> that<00:26:11.020> we<00:26:11.110> can<00:26:11.260> all<00:26:11.470> learn 00:26:11.670 --> 00:26:11.680 align:start position:0% up your doors so that we can all learn 00:26:11.680 --> 00:26:13.410 align:start position:0% up your doors so that we can all learn from<00:26:11.950> mister<00:26:12.400> from<00:26:12.550> the<00:26:12.640> mistakes<00:26:12.970> because 00:26:13.410 --> 00:26:13.420 align:start position:0% from mister from the mistakes because 00:26:13.420 --> 00:26:15.120 align:start position:0% from mister from the mistakes because some<00:26:13.960> teams<00:26:14.200> what<00:26:14.380> they<00:26:14.530> do<00:26:14.590> is<00:26:14.920> that<00:26:14.950> they 00:26:15.120 --> 00:26:15.130 align:start position:0% some teams what they do is that they 00:26:15.130 --> 00:26:17.160 align:start position:0% some teams what they do is that they spend<00:26:15.820> two<00:26:16.030> years<00:26:16.270> working<00:26:16.510> on<00:26:16.720> something<00:26:16.930> and 00:26:17.160 --> 00:26:17.170 align:start position:0% spend two years working on something and 00:26:17.170 --> 00:26:19.380 align:start position:0% spend two years working on something and then<00:26:17.320> H<00:26:17.440> they<00:26:17.620> ship<00:26:17.800> something<00:26:18.010> perfect<00:26:18.520> but 00:26:19.380 --> 00:26:19.390 align:start position:0% then H they ship something perfect but 00:26:19.390 --> 00:26:22.200 align:start position:0% then H they ship something perfect but it's<00:26:19.750> it's<00:26:20.140> a<00:26:20.260> lose-lose<00:26:20.710> because<00:26:21.130> they<00:26:22.060> could 00:26:22.200 --> 00:26:22.210 align:start position:0% it's it's a lose-lose because they could 00:26:22.210 --> 00:26:23.400 align:start position:0% it's it's a lose-lose because they could have<00:26:22.300> gone<00:26:22.450> through<00:26:22.750> gotten<00:26:23.230> feedback 00:26:23.400 --> 00:26:23.410 align:start position:0% have gone through gotten feedback 00:26:23.410 --> 00:26:25.890 align:start position:0% have gone through gotten feedback earlier<00:26:23.950> on<00:26:24.130> and<00:26:24.400> we<00:26:25.210> could<00:26:25.360> have<00:26:25.480> learned 00:26:25.890 --> 00:26:25.900 align:start position:0% earlier on and we could have learned 00:26:25.900 --> 00:26:28.440 align:start position:0% earlier on and we could have learned from<00:26:26.200> their<00:26:26.470> failed<00:26:27.070> experiments<00:26:28.060> it's 00:26:28.440 --> 00:26:28.450 align:start position:0% from their failed experiments it's 00:26:28.450 --> 00:26:29.700 align:start position:0% from their failed experiments it's interesting<00:26:28.840> thought 00:26:29.700 --> 00:26:29.710 align:start position:0% interesting thought 00:26:29.710 --> 00:26:34.410 align:start position:0% interesting thought so<00:26:30.040> James<00:26:30.580> on<00:26:31.030> that<00:26:31.240> note<00:26:32.880> there<00:26:33.880> are<00:26:34.000> specific 00:26:34.410 --> 00:26:34.420 align:start position:0% so James on that note there are specific 00:26:34.420 --> 00:26:37.410 align:start position:0% so James on that note there are specific projects<00:26:35.020> that<00:26:35.250> enterprises<00:26:36.250> have<00:26:36.670> given<00:26:37.060> to 00:26:37.410 --> 00:26:37.420 align:start position:0% projects that enterprises have given to 00:26:37.420 --> 00:26:40.590 align:start position:0% projects that enterprises have given to the<00:26:37.690> public<00:26:38.560> blockchain<00:26:39.130> space<00:26:39.510> that<00:26:40.510> are 00:26:40.590 --> 00:26:40.600 align:start position:0% the public blockchain space that are 00:26:40.600 --> 00:26:43.850 align:start position:0% the public blockchain space that are open<00:26:40.840> source<00:26:41.760> taking<00:26:42.760> nightfalls<00:26:43.150> an<00:26:43.270> example 00:26:43.850 --> 00:26:43.860 align:start position:0% open source taking nightfalls an example 00:26:43.860 --> 00:26:46.920 align:start position:0% open source taking nightfalls an example do<00:26:44.860> you<00:26:44.950> see<00:26:45.130> them<00:26:45.280> as<00:26:45.330> they<00:26:46.330> are<00:26:46.480> beneficial 00:26:46.920 --> 00:26:46.930 align:start position:0% do you see them as they are beneficial 00:26:46.930 --> 00:26:48.390 align:start position:0% do you see them as they are beneficial and<00:26:47.290> we<00:26:47.530> think<00:26:47.770> them<00:26:47.890> for<00:26:48.040> their<00:26:48.130> work<00:26:48.220> I'm 00:26:48.390 --> 00:26:48.400 align:start position:0% and we think them for their work I'm 00:26:48.400 --> 00:26:51.120 align:start position:0% and we think them for their work I'm sure<00:26:48.630> are<00:26:49.630> there<00:26:49.840> elements<00:26:50.110> of<00:26:50.410> that<00:26:50.530> that<00:26:50.860> I 00:26:51.120 --> 00:26:51.130 align:start position:0% sure are there elements of that that I 00:26:51.130 --> 00:26:54.690 align:start position:0% sure are there elements of that that I guess<00:26:51.340> we<00:26:51.640> could<00:26:51.790> be<00:26:53.340> there<00:26:54.340> we<00:26:54.400> could<00:26:54.550> work 00:26:54.690 --> 00:26:54.700 align:start position:0% guess we could be there we could work 00:26:54.700 --> 00:26:56.040 align:start position:0% guess we could be there we could work with<00:26:54.730> more<00:26:55.030> closely<00:26:55.270> together<00:26:55.570> to<00:26:55.870> make<00:26:56.020> sure 00:26:56.040 --> 00:26:56.050 align:start position:0% with more closely together to make sure 00:26:56.050 --> 00:26:58.380 align:start position:0% with more closely together to make sure that<00:26:56.440> they're<00:26:57.160> beneficial<00:26:57.490> to<00:26:57.700> the<00:26:57.820> space<00:26:58.060> so 00:26:58.380 --> 00:26:58.390 align:start position:0% that they're beneficial to the space so 00:26:58.390 --> 00:27:01.350 align:start position:0% that they're beneficial to the space so they<00:26:58.510> have<00:26:58.750> upside<00:26:59.230> downside<00:26:59.520> I<00:27:00.520> definitely 00:27:01.350 --> 00:27:01.360 align:start position:0% they have upside downside I definitely 00:27:01.360 --> 00:27:01.800 align:start position:0% they have upside downside I definitely think<00:27:01.540> so 00:27:01.800 --> 00:27:01.810 align:start position:0% think so 00:27:01.810 --> 00:27:04.380 align:start position:0% think so so<00:27:02.290> nightfall<00:27:03.070> is<00:27:03.250> an<00:27:03.460> interesting<00:27:03.790> example 00:27:04.380 --> 00:27:04.390 align:start position:0% so nightfall is an interesting example 00:27:04.390 --> 00:27:06.120 align:start position:0% so nightfall is an interesting example because<00:27:04.420> it's<00:27:04.810> a<00:27:04.900> cryptographic<00:27:05.260> system<00:27:05.920> and 00:27:06.120 --> 00:27:06.130 align:start position:0% because it's a cryptographic system and 00:27:06.130 --> 00:27:07.620 align:start position:0% because it's a cryptographic system and it's<00:27:06.580> very<00:27:06.670> difficult<00:27:07.210> for<00:27:07.420> non 00:27:07.620 --> 00:27:07.630 align:start position:0% it's very difficult for non 00:27:07.630 --> 00:27:09.390 align:start position:0% it's very difficult for non cryptographers<00:27:08.290> to<00:27:08.440> interact<00:27:08.860> with<00:27:09.070> or<00:27:09.310> to 00:27:09.390 --> 00:27:09.400 align:start position:0% cryptographers to interact with or to 00:27:09.400 --> 00:27:11.870 align:start position:0% cryptographers to interact with or to understand<00:27:09.850> how<00:27:10.030> to<00:27:10.060> reuse<00:27:10.300> components<00:27:10.720> of 00:27:11.870 --> 00:27:11.880 align:start position:0% understand how to reuse components of 00:27:11.880 --> 00:27:15.450 align:start position:0% understand how to reuse components of but<00:27:12.880> I<00:27:12.910> think<00:27:13.240> as<00:27:13.480> far<00:27:14.200> as<00:27:14.350> like<00:27:14.620> the<00:27:14.650> IBM 00:27:15.450 --> 00:27:15.460 align:start position:0% but I think as far as like the IBM 00:27:15.460 --> 00:27:17.400 align:start position:0% but I think as far as like the IBM blockchain<00:27:16.120> and<00:27:16.330> the<00:27:16.420> door<00:27:16.630> blockchain<00:27:17.380> and 00:27:17.400 --> 00:27:17.410 align:start position:0% blockchain and the door blockchain and 00:27:17.410 --> 00:27:19.080 align:start position:0% blockchain and the door blockchain and all<00:27:17.770> of<00:27:17.890> these<00:27:18.010> huge<00:27:18.280> enterprise<00:27:18.640> blockchain 00:27:19.080 --> 00:27:19.090 align:start position:0% all of these huge enterprise blockchain 00:27:19.090 --> 00:27:21.060 align:start position:0% all of these huge enterprise blockchain processes<00:27:20.020> we<00:27:20.200> haven't<00:27:20.470> seen<00:27:20.620> a<00:27:20.650> lot<00:27:21.040> of 00:27:21.060 --> 00:27:21.070 align:start position:0% processes we haven't seen a lot of 00:27:21.070 --> 00:27:24.420 align:start position:0% processes we haven't seen a lot of useful<00:27:21.580> code<00:27:22.090> fall<00:27:22.420> out<00:27:22.600> of<00:27:22.750> it<00:27:23.130> we<00:27:24.130> have 00:27:24.420 --> 00:27:24.430 align:start position:0% useful code fall out of it we have 00:27:24.430 --> 00:27:27.360 align:start position:0% useful code fall out of it we have people<00:27:24.850> like<00:27:25.030> the<00:27:25.240> if<00:27:25.540> you<00:27:26.370> enterprise 00:27:27.360 --> 00:27:27.370 align:start position:0% people like the if you enterprise 00:27:27.370 --> 00:27:29.010 align:start position:0% people like the if you enterprise aetherium<00:27:27.880> Alliance<00:27:28.210> etherium<00:27:28.690> enterprise 00:27:29.010 --> 00:27:29.020 align:start position:0% aetherium Alliance etherium enterprise 00:27:29.020 --> 00:27:30.950 align:start position:0% aetherium Alliance etherium enterprise alliance<00:27:29.380> ETA<00:27:29.860> whatever<00:27:30.460> it's<00:27:30.610> called 00:27:30.950 --> 00:27:30.960 align:start position:0% alliance ETA whatever it's called 00:27:30.960 --> 00:27:34.050 align:start position:0% alliance ETA whatever it's called working<00:27:31.960> with<00:27:32.290> enterprises<00:27:33.100> trying<00:27:33.640> to<00:27:33.850> serve 00:27:34.050 --> 00:27:34.060 align:start position:0% working with enterprises trying to serve 00:27:34.060 --> 00:27:35.550 align:start position:0% working with enterprises trying to serve their<00:27:34.270> needs<00:27:34.450> and<00:27:34.780> ensure<00:27:34.900> that<00:27:35.080> they<00:27:35.350> give 00:27:35.550 --> 00:27:35.560 align:start position:0% their needs and ensure that they give 00:27:35.560 --> 00:27:38.430 align:start position:0% their needs and ensure that they give back<00:27:35.800> to<00:27:36.070> the<00:27:36.160> community<00:27:36.900> but<00:27:37.900> I<00:27:37.930> can't<00:27:38.200> think 00:27:38.430 --> 00:27:38.440 align:start position:0% back to the community but I can't think 00:27:38.440 --> 00:27:41.280 align:start position:0% back to the community but I can't think of<00:27:38.560> you<00:27:39.070> know<00:27:39.160> any<00:27:39.690> enterprise<00:27:40.690> driven 00:27:41.280 --> 00:27:41.290 align:start position:0% of you know any enterprise driven 00:27:41.290 --> 00:27:43.500 align:start position:0% of you know any enterprise driven applications<00:27:41.500> on<00:27:42.400> chains<00:27:42.970> that<00:27:43.390> I've 00:27:43.500 --> 00:27:43.510 align:start position:0% applications on chains that I've 00:27:43.510 --> 00:27:46.980 align:start position:0% applications on chains that I've actually<00:27:43.750> used<00:27:44.280> so<00:27:45.280> IBM<00:27:46.030> has<00:27:46.210> like<00:27:46.420> 40 00:27:46.980 --> 00:27:46.990 align:start position:0% actually used so IBM has like 40 00:27:46.990 --> 00:27:49.380 align:start position:0% actually used so IBM has like 40 full-time<00:27:47.290> engineers<00:27:48.220> really<00:27:48.970> using<00:27:49.180> every 00:27:49.380 --> 00:27:49.390 align:start position:0% full-time engineers really using every 00:27:49.390 --> 00:27:50.210 align:start position:0% full-time engineers really using every line<00:27:49.570> of<00:27:49.600> code<00:27:49.750> that<00:27:49.930> they 00:27:50.210 --> 00:27:50.220 align:start position:0% line of code that they 00:27:50.220 --> 00:27:52.460 align:start position:0% line of code that they fabric<00:27:50.880> as<00:27:51.450> soon<00:27:51.630> as<00:27:51.720> they<00:27:51.870> write<00:27:52.020> it<00:27:52.140> okay<00:27:52.409> so 00:27:52.460 --> 00:27:52.470 align:start position:0% fabric as soon as they write it okay so 00:27:52.470 --> 00:27:54.620 align:start position:0% fabric as soon as they write it okay so that's<00:27:52.830> great<00:27:52.980> yeah<00:27:53.250> and<00:27:53.490> and<00:27:54.120> they're<00:27:54.270> about 00:27:54.620 --> 00:27:54.630 align:start position:0% that's great yeah and and they're about 00:27:54.630 --> 00:27:57.049 align:start position:0% that's great yeah and and they're about 40<00:27:55.500> percent<00:27:55.890> of<00:27:55.980> the<00:27:56.039> total<00:27:56.190> IP<00:27:56.460> going<00:27:56.820> into 00:27:57.049 --> 00:27:57.059 align:start position:0% 40 percent of the total IP going into 00:27:57.059 --> 00:27:58.820 align:start position:0% 40 percent of the total IP going into fabric<00:27:57.390> so<00:27:57.480> there's<00:27:57.630> another<00:27:57.780> big<00:27:58.409> you<00:27:58.500> know<00:27:58.590> - 00:27:58.820 --> 00:27:58.830 align:start position:0% fabric so there's another big you know - 00:27:58.830 --> 00:28:01.520 align:start position:0% fabric so there's another big you know - yeah<00:27:59.669> bundle<00:28:00.419> of<00:28:00.510> people<00:28:00.720> outside<00:28:00.840> in<00:28:01.289> other 00:28:01.520 --> 00:28:01.530 align:start position:0% yeah bundle of people outside in other 00:28:01.530 --> 00:28:03.320 align:start position:0% yeah bundle of people outside in other companies<00:28:01.890> why<00:28:02.159> wait<00:28:02.429> Deloitte<00:28:02.789> others<00:28:03.090> that 00:28:03.320 --> 00:28:03.330 align:start position:0% companies why wait Deloitte others that 00:28:03.330 --> 00:28:06.169 align:start position:0% companies why wait Deloitte others that go<00:28:03.840> into<00:28:03.990> that<00:28:04.169> work<00:28:04.320> -<00:28:04.470> so<00:28:04.679> perfect<00:28:05.130> so<00:28:05.700> I<00:28:05.730> want 00:28:06.169 --> 00:28:06.179 align:start position:0% go into that work - so perfect so I want 00:28:06.179 --> 00:28:07.250 align:start position:0% go into that work - so perfect so I want to<00:28:06.240> catch<00:28:06.330> up<00:28:06.480> with<00:28:06.600> you<00:28:06.659> about<00:28:06.780> I<00:28:06.990> could<00:28:07.169> do<00:28:07.230> a 00:28:07.250 --> 00:28:07.260 align:start position:0% to catch up with you about I could do a 00:28:07.260 --> 00:28:11.440 align:start position:0% to catch up with you about I could do a better<00:28:07.440> job<00:28:08.210> yeah<00:28:09.210> so<00:28:09.960> digging<00:28:10.289> back<00:28:10.559> into 00:28:11.440 --> 00:28:11.450 align:start position:0% better job yeah so digging back into 00:28:11.450 --> 00:28:15.560 align:start position:0% better job yeah so digging back into technical<00:28:12.450> interoperability<00:28:13.169> the<00:28:14.570> work 00:28:15.560 --> 00:28:15.570 align:start position:0% technical interoperability the work 00:28:15.570 --> 00:28:18.409 align:start position:0% technical interoperability the work that's<00:28:15.780> being<00:28:15.929> done<00:28:16.049> on<00:28:16.650> the<00:28:17.400> public<00:28:18.210> side<00:28:18.390> I 00:28:18.409 --> 00:28:18.419 align:start position:0% that's being done on the public side I 00:28:18.419 --> 00:28:20.000 align:start position:0% that's being done on the public side I guess<00:28:18.750> will<00:28:19.080> speak<00:28:19.260> to<00:28:19.409> first 00:28:20.000 --> 00:28:20.010 align:start position:0% guess will speak to first 00:28:20.010 --> 00:28:22.279 align:start position:0% guess will speak to first Justin's<00:28:20.490> outlined<00:28:20.850> a<00:28:20.970> few<00:28:21.000> of<00:28:21.240> them<00:28:21.390> a<00:28:21.840> few 00:28:22.279 --> 00:28:22.289 align:start position:0% Justin's outlined a few of them a few 00:28:22.289 --> 00:28:23.360 align:start position:0% Justin's outlined a few of them a few others<00:28:22.470> have<00:28:22.590> been<00:28:22.710> brought<00:28:22.890> up<00:28:22.919> on<00:28:23.100> stage 00:28:23.360 --> 00:28:23.370 align:start position:0% others have been brought up on stage 00:28:23.370 --> 00:28:25.610 align:start position:0% others have been brought up on stage like<00:28:23.640> IBC<00:28:24.000> work<00:28:24.620> privacy-preserving 00:28:25.610 --> 00:28:25.620 align:start position:0% like IBC work privacy-preserving 00:28:25.620 --> 00:28:30.049 align:start position:0% like IBC work privacy-preserving elements<00:28:26.510> so<00:28:27.510> I'd<00:28:27.870> first<00:28:28.110> like<00:28:28.260> to<00:28:28.909> kick<00:28:29.909> to 00:28:30.049 --> 00:28:30.059 align:start position:0% elements so I'd first like to kick to 00:28:30.059 --> 00:28:31.909 align:start position:0% elements so I'd first like to kick to Justin<00:28:30.419> to<00:28:30.570> hear<00:28:30.720> a<00:28:30.750> little<00:28:30.929> bit<00:28:31.080> about<00:28:31.260> what 00:28:31.909 --> 00:28:31.919 align:start position:0% Justin to hear a little bit about what 00:28:31.919 --> 00:28:34.880 align:start position:0% Justin to hear a little bit about what those<00:28:32.400> leading<00:28:32.820> areas<00:28:33.240> may<00:28:33.659> be<00:28:33.720> and<00:28:34.169> I'm<00:28:34.679> going 00:28:34.880 --> 00:28:34.890 align:start position:0% those leading areas may be and I'm going 00:28:34.890 --> 00:28:36.890 align:start position:0% those leading areas may be and I'm going to<00:28:35.010> then<00:28:35.100> come<00:28:35.340> back<00:28:35.370> to<00:28:35.580> Brian<00:28:35.789> and<00:28:36.059> figure 00:28:36.890 --> 00:28:36.900 align:start position:0% to then come back to Brian and figure 00:28:36.900 --> 00:28:39.649 align:start position:0% to then come back to Brian and figure out<00:28:36.950> our<00:28:37.950> different<00:28:38.820> standards<00:28:39.270> similar 00:28:39.649 --> 00:28:39.659 align:start position:0% out our different standards similar 00:28:39.659 --> 00:28:40.669 align:start position:0% out our different standards similar standards<00:28:40.020> being<00:28:40.230> worked<00:28:40.350> on<00:28:40.470> in<00:28:40.620> the 00:28:40.669 --> 00:28:40.679 align:start position:0% standards being worked on in the 00:28:40.679 --> 00:28:43.640 align:start position:0% standards being worked on in the enterprise<00:28:40.890> space<00:28:41.070> and<00:28:41.520> how<00:28:41.760> can<00:28:42.179> they<00:28:42.650> begin 00:28:43.640 --> 00:28:43.650 align:start position:0% enterprise space and how can they begin 00:28:43.650 --> 00:28:44.840 align:start position:0% enterprise space and how can they begin to<00:28:43.740> share<00:28:43.919> that<00:28:44.070> work<00:28:44.220> or<00:28:44.400> even<00:28:44.490> its<00:28:44.700> being 00:28:44.840 --> 00:28:44.850 align:start position:0% to share that work or even its being 00:28:44.850 --> 00:28:46.399 align:start position:0% to share that work or even its being open<00:28:45.090> source<00:28:45.120> apparently<00:28:46.080> it's<00:28:46.169> not<00:28:46.200> being 00:28:46.399 --> 00:28:46.409 align:start position:0% open source apparently it's not being 00:28:46.409 --> 00:28:49.610 align:start position:0% open source apparently it's not being communicated<00:28:46.880> to<00:28:47.880> the<00:28:48.000> best<00:28:48.510> possible<00:28:49.110> you 00:28:49.610 --> 00:28:49.620 align:start position:0% communicated to the best possible you 00:28:49.620 --> 00:28:51.890 align:start position:0% communicated to the best possible you know<00:28:49.740> and<00:28:49.980> of<00:28:50.070> course<00:28:50.100> comes<00:28:51.090> in<00:28:51.360> blockchain 00:28:51.890 --> 00:28:51.900 align:start position:0% know and of course comes in blockchain 00:28:51.900 --> 00:28:53.930 align:start position:0% know and of course comes in blockchain and<00:28:52.110> I<00:28:52.289> know<00:28:52.350> it's<00:28:52.740> a<00:28:53.070> limited<00:28:53.549> number<00:28:53.909> of 00:28:53.930 --> 00:28:53.940 align:start position:0% and I know it's a limited number of 00:28:53.940 --> 00:28:57.890 align:start position:0% and I know it's a limited number of people<00:28:54.710> so<00:28:55.710> leading<00:28:56.460> areas<00:28:56.820> of<00:28:57.090> potential 00:28:57.890 --> 00:28:57.900 align:start position:0% people so leading areas of potential 00:28:57.900 --> 00:29:01.190 align:start position:0% people so leading areas of potential technical<00:28:58.380> interoperable<00:28:59.150> focus<00:29:00.150> what<00:29:01.049> are 00:29:01.190 --> 00:29:01.200 align:start position:0% technical interoperable focus what are 00:29:01.200 --> 00:29:05.149 align:start position:0% technical interoperable focus what are we<00:29:01.320> looking<00:29:01.559> at<00:29:01.679> as<00:29:02.010> of<00:29:02.159> now<00:29:02.280> I<00:29:03.409> mean<00:29:04.409> one<00:29:04.679> trend 00:29:05.149 --> 00:29:05.159 align:start position:0% we looking at as of now I mean one trend 00:29:05.159 --> 00:29:07.549 align:start position:0% we looking at as of now I mean one trend that<00:29:05.309> I'm<00:29:05.600> particularly<00:29:06.600> excited<00:29:06.809> and<00:29:07.440> is 00:29:07.549 --> 00:29:07.559 align:start position:0% that I'm particularly excited and is 00:29:07.559 --> 00:29:10.430 align:start position:0% that I'm particularly excited and is leading<00:29:08.130> the<00:29:08.220> way<00:29:08.340> forward<00:29:08.669> in<00:29:09.030> terms<00:29:09.179> of<00:29:09.440> like 00:29:10.430 --> 00:29:10.440 align:start position:0% leading the way forward in terms of like 00:29:10.440 --> 00:29:14.029 align:start position:0% leading the way forward in terms of like plans<00:29:10.740> and<00:29:11.100> interoperability<00:29:11.640> is<00:29:12.179> a<00:29:13.049> seller 00:29:14.029 --> 00:29:14.039 align:start position:0% plans and interoperability is a seller 00:29:14.039 --> 00:29:16.250 align:start position:0% plans and interoperability is a seller and<00:29:14.309> coder<00:29:14.610> so<00:29:14.940> they're<00:29:15.390> they're<00:29:15.840> going<00:29:15.960> down 00:29:16.250 --> 00:29:16.260 align:start position:0% and coder so they're they're going down 00:29:16.260 --> 00:29:19.760 align:start position:0% and coder so they're they're going down the<00:29:16.370> snog<00:29:17.370> based<00:29:17.700> like<00:29:18.000> clients<00:29:18.480> and<00:29:19.260> they're 00:29:19.760 --> 00:29:19.770 align:start position:0% the snog based like clients and they're 00:29:19.770 --> 00:29:21.140 align:start position:0% the snog based like clients and they're bringing<00:29:20.130> in<00:29:20.250> a<00:29:20.280> very<00:29:20.760> sophisticated 00:29:21.140 --> 00:29:21.150 align:start position:0% bringing in a very sophisticated 00:29:21.150 --> 00:29:22.039 align:start position:0% bringing in a very sophisticated machinery 00:29:22.039 --> 00:29:22.049 align:start position:0% machinery 00:29:22.049 --> 00:29:24.620 align:start position:0% machinery you<00:29:22.710> know<00:29:22.799> recursive<00:29:23.340> stocks<00:29:23.610> one<00:29:24.179> is<00:29:24.390> like 00:29:24.620 --> 00:29:24.630 align:start position:0% you know recursive stocks one is like 00:29:24.630 --> 00:29:27.950 align:start position:0% you know recursive stocks one is like the<00:29:24.780> fully<00:29:24.990> recursive<00:29:25.789> in<00:29:26.789> the<00:29:27.240> case<00:29:27.450> of<00:29:27.690> coda 00:29:27.950 --> 00:29:27.960 align:start position:0% the fully recursive in the case of coda 00:29:27.960 --> 00:29:30.260 align:start position:0% the fully recursive in the case of coda and<00:29:28.350> then<00:29:28.559> the<00:29:29.130> case<00:29:29.280> of<00:29:29.429> seller<00:29:29.640> is<00:29:29.880> like<00:29:30.000> one 00:29:30.260 --> 00:29:30.270 align:start position:0% and then the case of seller is like one 00:29:30.270 --> 00:29:35.720 align:start position:0% and then the case of seller is like one level<00:29:30.809> of<00:29:31.260> recursion<00:29:32.059> and<00:29:33.350> I<00:29:34.520> think<00:29:35.520> this<00:29:35.610> is 00:29:35.720 --> 00:29:35.730 align:start position:0% level of recursion and I think this is 00:29:35.730 --> 00:29:37.220 align:start position:0% level of recursion and I think this is great<00:29:35.940> in<00:29:36.150> you<00:29:36.240> know<00:29:36.360> in<00:29:36.510> terms<00:29:36.720> of<00:29:36.990> you<00:29:37.169> know 00:29:37.220 --> 00:29:37.230 align:start position:0% great in you know in terms of you know 00:29:37.230 --> 00:29:39.169 align:start position:0% great in you know in terms of you know minimizing<00:29:37.860> the<00:29:37.950> cost<00:29:38.220> of<00:29:38.520> interoperability 00:29:39.169 --> 00:29:39.179 align:start position:0% minimizing the cost of interoperability 00:29:39.179 --> 00:29:42.080 align:start position:0% minimizing the cost of interoperability because<00:29:39.630> at<00:29:39.750> the<00:29:39.809> end<00:29:39.960> of<00:29:40.049> the<00:29:40.140> day<00:29:41.000> you<00:29:42.000> know 00:29:42.080 --> 00:29:42.090 align:start position:0% because at the end of the day you know 00:29:42.090 --> 00:29:45.080 align:start position:0% because at the end of the day you know when<00:29:42.270> you<00:29:42.360> have<00:29:42.600> a<00:29:43.500> very<00:29:44.010> flexible<00:29:44.280> virtual 00:29:45.080 --> 00:29:45.090 align:start position:0% when you have a very flexible virtual 00:29:45.090 --> 00:29:47.029 align:start position:0% when you have a very flexible virtual machine<00:29:45.419> like<00:29:45.630> wasn't<00:29:45.870> then<00:29:46.169> you<00:29:46.380> know<00:29:46.470> in 00:29:47.029 --> 00:29:47.039 align:start position:0% machine like wasn't then you know in 00:29:47.039 --> 00:29:49.190 align:start position:0% machine like wasn't then you know in theory<00:29:47.460> you<00:29:47.669> can<00:29:47.850> be<00:29:48.030> Ally<00:29:48.510> clients<00:29:48.900> for<00:29:49.049> any 00:29:49.190 --> 00:29:49.200 align:start position:0% theory you can be Ally clients for any 00:29:49.200 --> 00:29:52.460 align:start position:0% theory you can be Ally clients for any other<00:29:49.760> you<00:29:50.760> know<00:29:50.870> blockchain<00:29:51.870> but<00:29:52.169> in 00:29:52.460 --> 00:29:52.470 align:start position:0% other you know blockchain but in 00:29:52.470 --> 00:29:54.440 align:start position:0% other you know blockchain but in practice<00:29:53.159> the<00:29:53.340> limiting<00:29:53.700> factor<00:29:54.090> is<00:29:54.240> just 00:29:54.440 --> 00:29:54.450 align:start position:0% practice the limiting factor is just 00:29:54.450 --> 00:29:56.870 align:start position:0% practice the limiting factor is just cost<00:29:54.720> and<00:29:55.020> by<00:29:55.080> cost<00:29:55.409> I<00:29:55.590> mean<00:29:55.620> the<00:29:56.370> you<00:29:56.700> know<00:29:56.760> the 00:29:56.870 --> 00:29:56.880 align:start position:0% cost and by cost I mean the you know the 00:29:56.880 --> 00:29:57.980 align:start position:0% cost and by cost I mean the you know the gas<00:29:57.120> cost<00:29:57.480> in<00:29:57.659> time 00:29:57.980 --> 00:29:57.990 align:start position:0% gas cost in time 00:29:57.990 --> 00:30:00.799 align:start position:0% gas cost in time action<00:29:58.230> keys<00:29:58.440> and<00:29:58.679> so<00:29:59.220> there<00:29:59.730> really<00:30:00.210> is<00:30:00.450> a<00:30:00.480> big 00:30:00.799 --> 00:30:00.809 align:start position:0% action keys and so there really is a big 00:30:00.809 --> 00:30:02.990 align:start position:0% action keys and so there really is a big engineering<00:30:01.350> effort<00:30:01.650> to<00:30:01.770> be<00:30:01.890> done<00:30:02.100> to<00:30:02.640> squeeze 00:30:02.990 --> 00:30:03.000 align:start position:0% engineering effort to be done to squeeze 00:30:03.000 --> 00:30:05.540 align:start position:0% engineering effort to be done to squeeze that<00:30:03.179> cost<00:30:03.480> down<00:30:03.720> to<00:30:03.960> almost<00:30:04.740> nothing 00:30:05.540 --> 00:30:05.550 align:start position:0% that cost down to almost nothing 00:30:05.550 --> 00:30:08.950 align:start position:0% that cost down to almost nothing and<00:30:06.330> and<00:30:06.900> these<00:30:07.110> projects<00:30:07.590> are<00:30:07.800> leaving<00:30:08.730> that 00:30:08.950 --> 00:30:08.960 align:start position:0% and and these projects are leaving that 00:30:08.960 --> 00:30:11.600 align:start position:0% and and these projects are leaving that another<00:30:09.960> kind<00:30:10.380> of<00:30:10.500> interesting<00:30:10.830> consequence 00:30:11.600 --> 00:30:11.610 align:start position:0% another kind of interesting consequence 00:30:11.610 --> 00:30:13.760 align:start position:0% another kind of interesting consequence potentially<00:30:12.390> of<00:30:12.600> the<00:30:12.840> the<00:30:13.080> snarks<00:30:13.440> approach 00:30:13.760 --> 00:30:13.770 align:start position:0% potentially of the the snarks approach 00:30:13.770 --> 00:30:17.960 align:start position:0% potentially of the the snarks approach is<00:30:14.010> that<00:30:15.500> it<00:30:16.500> could<00:30:16.800> be<00:30:17.010> kind<00:30:17.429> of<00:30:17.490> a<00:30:17.580> common 00:30:17.960 --> 00:30:17.970 align:start position:0% is that it could be kind of a common 00:30:17.970 --> 00:30:20.570 align:start position:0% is that it could be kind of a common language<00:30:18.150> for<00:30:18.660> all<00:30:19.380> the<00:30:19.590> various<00:30:19.950> light 00:30:20.570 --> 00:30:20.580 align:start position:0% language for all the various light 00:30:20.580 --> 00:30:23.180 align:start position:0% language for all the various light clients<00:30:21.090> to<00:30:21.270> speak<00:30:21.570> because<00:30:22.380> every 00:30:23.180 --> 00:30:23.190 align:start position:0% clients to speak because every 00:30:23.190 --> 00:30:24.980 align:start position:0% clients to speak because every blockchain<00:30:23.610> has<00:30:23.820> a<00:30:23.850> different<00:30:24.240> consensus<00:30:24.780> and 00:30:24.980 --> 00:30:24.990 align:start position:0% blockchain has a different consensus and 00:30:24.990 --> 00:30:26.810 align:start position:0% blockchain has a different consensus and so<00:30:25.470> every<00:30:25.950> time<00:30:26.130> you<00:30:26.250> breathe<00:30:26.400> or<00:30:26.580> bridge 00:30:26.810 --> 00:30:26.820 align:start position:0% so every time you breathe or bridge 00:30:26.820 --> 00:30:28.700 align:start position:0% so every time you breathe or bridge between<00:30:27.059> two<00:30:27.360> block<00:30:27.690> chains<00:30:27.960> that's<00:30:28.230> like<00:30:28.500> a 00:30:28.700 --> 00:30:28.710 align:start position:0% between two block chains that's like a 00:30:28.710 --> 00:30:31.940 align:start position:0% between two block chains that's like a custom<00:30:29.309> ad-hoc<00:30:29.850> build<00:30:30.600> bridge<00:30:30.990> which 00:30:31.940 --> 00:30:31.950 align:start position:0% custom ad-hoc build bridge which 00:30:31.950 --> 00:30:33.350 align:start position:0% custom ad-hoc build bridge which requires<00:30:32.309> a<00:30:32.370> lot<00:30:32.550> of<00:30:32.580> sophistication<00:30:33.240> but 00:30:33.350 --> 00:30:33.360 align:start position:0% requires a lot of sophistication but 00:30:33.360 --> 00:30:38.930 align:start position:0% requires a lot of sophistication but maybe<00:30:33.600> if<00:30:34.020> we<00:30:34.650> can<00:30:34.890> you<00:30:35.160> know<00:30:37.309> encode<00:30:38.309> these 00:30:38.930 --> 00:30:38.940 align:start position:0% maybe if we can you know encode these 00:30:38.940 --> 00:30:43.160 align:start position:0% maybe if we can you know encode these these<00:30:39.870> algorithms<00:30:40.200> and<00:30:41.270> you<00:30:42.270> know<00:30:42.390> in 00:30:43.160 --> 00:30:43.170 align:start position:0% these algorithms and you know in 00:30:43.170 --> 00:30:45.110 align:start position:0% these algorithms and you know in circuits<00:30:43.679> and<00:30:43.860> then<00:30:43.980> abstract<00:30:44.460> away<00:30:44.610> all<00:30:44.970> the 00:30:45.110 --> 00:30:45.120 align:start position:0% circuits and then abstract away all the 00:30:45.120 --> 00:30:46.970 align:start position:0% circuits and then abstract away all the complexity<00:30:45.720> and<00:30:45.750> the<00:30:45.900> stock<00:30:46.230> that<00:30:46.590> might<00:30:46.830> be 00:30:46.970 --> 00:30:46.980 align:start position:0% complexity and the stock that might be 00:30:46.980 --> 00:30:50.299 align:start position:0% complexity and the stock that might be one<00:30:47.220> way<00:30:47.250> to<00:30:47.460> to<00:30:48.150> move<00:30:48.330> forward<00:30:48.770> and<00:30:49.770> a 00:30:50.299 --> 00:30:50.309 align:start position:0% one way to to move forward and a 00:30:50.309 --> 00:30:53.930 align:start position:0% one way to to move forward and a quickness<00:30:50.670> or<00:30:50.940> James<00:30:51.150> going<00:30:51.450> I<00:30:52.580> want<00:30:53.580> to<00:30:53.730> push 00:30:53.930 --> 00:30:53.940 align:start position:0% quickness or James going I want to push 00:30:53.940 --> 00:30:55.750 align:start position:0% quickness or James going I want to push back<00:30:54.120> a<00:30:54.179> little<00:30:54.300> bit<00:30:54.600> on<00:30:54.660> snarks<00:30:55.230> is<00:30:55.410> like<00:30:55.590> a 00:30:55.750 --> 00:30:55.760 align:start position:0% back a little bit on snarks is like a 00:30:55.760 --> 00:30:57.980 align:start position:0% back a little bit on snarks is like a interoperability<00:30:56.760> mechanism<00:30:57.390> the<00:30:57.750> main 00:30:57.980 --> 00:30:57.990 align:start position:0% interoperability mechanism the main 00:30:57.990 --> 00:30:59.600 align:start position:0% interoperability mechanism the main thing<00:30:58.170> that<00:30:58.200> they're<00:30:58.470> useful<00:30:58.590> for<00:30:58.770> is<00:30:59.130> making 00:30:59.600 --> 00:30:59.610 align:start position:0% thing that they're useful for is making 00:30:59.610 --> 00:31:02.320 align:start position:0% thing that they're useful for is making updates<00:30:59.880> and<00:31:00.390> expensive<00:31:00.900> things<00:31:01.140> to<00:31:01.320> cheap 00:31:02.320 --> 00:31:02.330 align:start position:0% updates and expensive things to cheap 00:31:02.330 --> 00:31:04.940 align:start position:0% updates and expensive things to cheap unfortunately<00:31:03.330> when<00:31:03.900> we're<00:31:04.140> running<00:31:04.710> a<00:31:04.770> light 00:31:04.940 --> 00:31:04.950 align:start position:0% unfortunately when we're running a light 00:31:04.950 --> 00:31:07.700 align:start position:0% unfortunately when we're running a light client<00:31:05.340> on<00:31:05.490> chain<00:31:05.850> the<00:31:06.510> amount<00:31:06.750> of<00:31:06.870> updates<00:31:07.470> is 00:31:07.700 --> 00:31:07.710 align:start position:0% client on chain the amount of updates is 00:31:07.710 --> 00:31:09.620 align:start position:0% client on chain the amount of updates is still<00:31:08.100> linear<00:31:08.429> in<00:31:08.790> the<00:31:08.880> frequency<00:31:09.390> of<00:31:09.420> the 00:31:09.620 --> 00:31:09.630 align:start position:0% still linear in the frequency of the 00:31:09.630 --> 00:31:12.890 align:start position:0% still linear in the frequency of the reads<00:31:11.090> so<00:31:12.090> if<00:31:12.240> there's<00:31:12.420> a<00:31:12.510> lot<00:31:12.660> of<00:31:12.690> people 00:31:12.890 --> 00:31:12.900 align:start position:0% reads so if there's a lot of people 00:31:12.900 --> 00:31:15.049 align:start position:0% reads so if there's a lot of people reading<00:31:13.260> the<00:31:13.470> system<00:31:13.890> your<00:31:14.460> snark<00:31:14.820> based 00:31:15.049 --> 00:31:15.059 align:start position:0% reading the system your snark based 00:31:15.059 --> 00:31:16.790 align:start position:0% reading the system your snark based system<00:31:15.420> will<00:31:15.570> converge<00:31:15.960> back<00:31:16.290> to<00:31:16.559> just 00:31:16.790 --> 00:31:16.800 align:start position:0% system will converge back to just 00:31:16.800 --> 00:31:18.799 align:start position:0% system will converge back to just updating<00:31:17.309> once<00:31:17.580> per<00:31:17.820> header<00:31:18.090> rather<00:31:18.570> than 00:31:18.799 --> 00:31:18.809 align:start position:0% updating once per header rather than 00:31:18.809 --> 00:31:22.040 align:start position:0% updating once per header rather than skipping<00:31:19.230> a<00:31:19.290> bunch<00:31:19.410> of<00:31:19.590> blocks<00:31:19.970> right<00:31:20.970> so<00:31:21.240> one 00:31:22.040 --> 00:31:22.050 align:start position:0% skipping a bunch of blocks right so one 00:31:22.050 --> 00:31:24.230 align:start position:0% skipping a bunch of blocks right so one of<00:31:22.140> the<00:31:22.260> additional<00:31:22.679> benefits<00:31:23.580> of<00:31:23.760> snarks<00:31:24.120> is 00:31:24.230 --> 00:31:24.240 align:start position:0% of the additional benefits of snarks is 00:31:24.240 --> 00:31:26.930 align:start position:0% of the additional benefits of snarks is that<00:31:24.420> you<00:31:24.929> can<00:31:25.429> combine<00:31:26.429> some<00:31:26.730> of<00:31:26.790> the 00:31:26.930 --> 00:31:26.940 align:start position:0% that you can combine some of the 00:31:26.940 --> 00:31:29.570 align:start position:0% that you can combine some of the application<00:31:27.420> layer<00:31:27.630> logic<00:31:28.260> and<00:31:28.500> one<00:31:29.250> of<00:31:29.340> the 00:31:29.570 --> 00:31:29.580 align:start position:0% application layer logic and one of the 00:31:29.580 --> 00:31:31.970 align:start position:0% application layer logic and one of the you<00:31:30.420> know<00:31:30.540> you<00:31:30.600> could<00:31:30.840> one<00:31:31.710> of<00:31:31.740> the 00:31:31.970 --> 00:31:31.980 align:start position:0% you know you could one of the 00:31:31.980 --> 00:31:34.370 align:start position:0% you know you could one of the interesting<00:31:32.940> pieces<00:31:33.540> of<00:31:33.720> application<00:31:34.230> logic 00:31:34.370 --> 00:31:34.380 align:start position:0% interesting pieces of application logic 00:31:34.380 --> 00:31:35.750 align:start position:0% interesting pieces of application logic which<00:31:34.860> actually<00:31:35.160> is<00:31:35.250> kind<00:31:35.429> of<00:31:35.490> between 00:31:35.750 --> 00:31:35.760 align:start position:0% which actually is kind of between 00:31:35.760 --> 00:31:38.180 align:start position:0% which actually is kind of between consensus<00:31:36.450> and<00:31:36.540> application<00:31:37.110> is<00:31:37.320> going<00:31:37.920> to<00:31:38.040> be 00:31:38.180 --> 00:31:38.190 align:start position:0% consensus and application is going to be 00:31:38.190 --> 00:31:40.490 align:start position:0% consensus and application is going to be the<00:31:38.429> miracle<00:31:39.179> paths<00:31:39.420> the<00:31:39.690> witnesses<00:31:40.200> so 00:31:40.490 --> 00:31:40.500 align:start position:0% the miracle paths the witnesses so 00:31:40.500 --> 00:31:43.280 align:start position:0% the miracle paths the witnesses so generally<00:31:40.860> speaking<00:31:40.920> you<00:31:41.790> have<00:31:41.820> data<00:31:42.660> on<00:31:42.840> one 00:31:43.280 --> 00:31:43.290 align:start position:0% generally speaking you have data on one 00:31:43.290 --> 00:31:44.700 align:start position:0% generally speaking you have data on one on<00:31:43.559> one<00:31:43.800> chain<00:31:44.040> you 00:31:44.700 --> 00:31:44.710 align:start position:0% on one chain you 00:31:44.710 --> 00:31:46.409 align:start position:0% on one chain you the<00:31:44.890> route<00:31:45.100> the<00:31:45.730> light<00:31:45.909> client<00:31:46.330> is 00:31:46.409 --> 00:31:46.419 align:start position:0% the route the light client is 00:31:46.419 --> 00:31:48.090 align:start position:0% the route the light client is responsible<00:31:46.630> for<00:31:47.110> moving<00:31:47.289> the<00:31:47.409> route<00:31:47.679> over 00:31:48.090 --> 00:31:48.100 align:start position:0% responsible for moving the route over 00:31:48.100 --> 00:31:49.980 align:start position:0% responsible for moving the route over and<00:31:48.309> then<00:31:48.820> the<00:31:49.000> user<00:31:49.240> is<00:31:49.419> responsible<00:31:49.960> for 00:31:49.980 --> 00:31:49.990 align:start position:0% and then the user is responsible for 00:31:49.990 --> 00:31:52.980 align:start position:0% and then the user is responsible for moving<00:31:50.529> the<00:31:50.740> data<00:31:51.039> and<00:31:51.370> the<00:31:51.520> witness<00:31:51.880> and<00:31:52.120> in 00:31:52.980 --> 00:31:52.990 align:start position:0% moving the data and the witness and in 00:31:52.990 --> 00:31:58.110 align:start position:0% moving the data and the witness and in practice<00:31:53.919> the<00:31:54.730> the<00:31:55.600> data<00:31:55.929> is<00:31:56.380> a<00:31:56.970> faction<00:31:57.970> of 00:31:58.110 --> 00:31:58.120 align:start position:0% practice the the data is a faction of 00:31:58.120 --> 00:32:00.360 align:start position:0% practice the the data is a faction of the<00:31:58.179> of<00:31:58.570> the<00:31:58.779> total<00:31:59.140> cost<00:31:59.380> in<00:31:59.860> terms<00:31:59.980> of<00:32:00.100> data 00:32:00.360 --> 00:32:00.370 align:start position:0% the of the total cost in terms of data 00:32:00.370 --> 00:32:02.700 align:start position:0% the of the total cost in terms of data you<00:32:00.580> have<00:32:00.820> the<00:32:01.090> the<00:32:01.840> medical<00:32:02.169> paths<00:32:02.380> are<00:32:02.559> just 00:32:02.700 --> 00:32:02.710 align:start position:0% you have the the medical paths are just 00:32:02.710 --> 00:32:04.769 align:start position:0% you have the the medical paths are just much<00:32:02.919> bigger<00:32:03.130> and<00:32:03.760> so<00:32:03.880> there's<00:32:04.149> this<00:32:04.270> idea<00:32:04.450> of 00:32:04.769 --> 00:32:04.779 align:start position:0% much bigger and so there's this idea of 00:32:04.779 --> 00:32:07.889 align:start position:0% much bigger and so there's this idea of using<00:32:05.350> snarks<00:32:05.980> for<00:32:06.250> witness<00:32:07.029> compression<00:32:07.570> you 00:32:07.889 --> 00:32:07.899 align:start position:0% using snarks for witness compression you 00:32:07.899 --> 00:32:10.830 align:start position:0% using snarks for witness compression you can<00:32:07.929> take<00:32:08.640> all<00:32:09.640> the<00:32:09.850> witnesses<00:32:10.330> for<00:32:10.570> all<00:32:10.690> the 00:32:10.830 --> 00:32:10.840 align:start position:0% can take all the witnesses for all the 00:32:10.840 --> 00:32:12.930 align:start position:0% can take all the witnesses for all the data<00:32:10.990> and<00:32:11.230> compress<00:32:11.559> that<00:32:11.740> down<00:32:11.799> to<00:32:12.220> 200<00:32:12.789> bytes 00:32:12.930 --> 00:32:12.940 align:start position:0% data and compress that down to 200 bytes 00:32:12.940 --> 00:32:15.960 align:start position:0% data and compress that down to 200 bytes and<00:32:13.750> then<00:32:13.929> even<00:32:14.230> include<00:32:14.649> that<00:32:14.799> in<00:32:15.100> the<00:32:15.429> route 00:32:15.960 --> 00:32:15.970 align:start position:0% and then even include that in the route 00:32:15.970 --> 00:32:19.590 align:start position:0% and then even include that in the route update<00:32:16.919> but<00:32:17.919> yes<00:32:18.070> I<00:32:18.250> agree<00:32:18.370> that<00:32:18.789> if<00:32:19.360> you're 00:32:19.590 --> 00:32:19.600 align:start position:0% update but yes I agree that if you're 00:32:19.600 --> 00:32:21.539 align:start position:0% update but yes I agree that if you're going<00:32:19.720> to<00:32:19.929> do<00:32:20.080> very<00:32:20.380> frequent<00:32:20.799> reads<00:32:20.980> with<00:32:21.220> low 00:32:21.539 --> 00:32:21.549 align:start position:0% going to do very frequent reads with low 00:32:21.549 --> 00:32:24.870 align:start position:0% going to do very frequent reads with low granularity<00:32:22.950> the<00:32:23.950> the<00:32:24.279> overhead<00:32:24.669> of<00:32:24.789> the 00:32:24.870 --> 00:32:24.880 align:start position:0% granularity the the overhead of the 00:32:24.880 --> 00:32:26.399 align:start position:0% granularity the the overhead of the lifeline<00:32:25.270> starts<00:32:25.659> disappearing<00:32:26.049> and<00:32:26.289> then 00:32:26.399 --> 00:32:26.409 align:start position:0% lifeline starts disappearing and then 00:32:26.409 --> 00:32:27.840 align:start position:0% lifeline starts disappearing and then you<00:32:26.470> have<00:32:26.590> these<00:32:26.679> other<00:32:26.740> overheads<00:32:27.399> but<00:32:27.669> they 00:32:27.840 --> 00:32:27.850 align:start position:0% you have these other overheads but they 00:32:27.850 --> 00:32:30.000 align:start position:0% you have these other overheads but they can<00:32:28.029> also<00:32:28.240> be<00:32:28.450> subsumed<00:32:28.840> in<00:32:29.049> the<00:32:29.140> stock<00:32:29.380> right 00:32:30.000 --> 00:32:30.010 align:start position:0% can also be subsumed in the stock right 00:32:30.010 --> 00:32:31.860 align:start position:0% can also be subsumed in the stock right but<00:32:30.220> we<00:32:30.370> have<00:32:30.880> to<00:32:31.029> plan<00:32:31.270> for<00:32:31.450> the<00:32:31.539> worst<00:32:31.570> case 00:32:31.860 --> 00:32:31.870 align:start position:0% but we have to plan for the worst case 00:32:31.870 --> 00:32:34.680 align:start position:0% but we have to plan for the worst case scenario<00:32:31.929> because<00:32:33.000> Sabina<00:32:34.000> bunch<00:32:34.330> of<00:32:34.450> stars 00:32:34.680 --> 00:32:34.690 align:start position:0% scenario because Sabina bunch of stars 00:32:34.690 --> 00:32:36.269 align:start position:0% scenario because Sabina bunch of stars in<00:32:34.870> the<00:32:34.960> one<00:32:35.110> a<00:32:35.289> grating<00:32:35.679> starts<00:32:36.010> as<00:32:36.159> an 00:32:36.269 --> 00:32:36.279 align:start position:0% in the one a grating starts as an 00:32:36.279 --> 00:32:41.090 align:start position:0% in the one a grating starts as an interactive<00:32:36.730> off<00:32:37.120> training<00:32:37.510> process<00:32:38.730> right 00:32:41.090 --> 00:32:41.100 align:start position:0% interactive off training process right 00:32:41.100 --> 00:32:44.700 align:start position:0% interactive off training process right well<00:32:42.270> you<00:32:43.270> kind<00:32:43.480> of<00:32:43.600> you<00:32:43.899> know<00:32:44.049> in<00:32:44.289> the<00:32:44.590> way 00:32:44.700 --> 00:32:44.710 align:start position:0% well you kind of you know in the way 00:32:44.710 --> 00:32:47.659 align:start position:0% well you kind of you know in the way that<00:32:44.919> change<00:32:45.429> work<00:32:45.669> right<00:32:45.850> now<00:32:46.029> you<00:32:46.870> have<00:32:47.110> like 00:32:47.659 --> 00:32:47.669 align:start position:0% that change work right now you have like 00:32:47.669 --> 00:32:49.500 align:start position:0% that change work right now you have like transactions<00:32:48.669> in<00:32:48.820> the<00:32:48.909> mempool<00:32:49.210> then<00:32:49.450> you 00:32:49.500 --> 00:32:49.510 align:start position:0% transactions in the mempool then you 00:32:49.510 --> 00:32:51.210 align:start position:0% transactions in the mempool then you have<00:32:49.630> a<00:32:49.659> block<00:32:49.899> producer<00:32:50.770> that<00:32:50.950> will<00:32:51.039> batch 00:32:51.210 --> 00:32:51.220 align:start position:0% have a block producer that will batch 00:32:51.220 --> 00:32:53.340 align:start position:0% have a block producer that will batch everything<00:32:51.760> and<00:32:52.000> then<00:32:52.299> that<00:32:52.630> entity<00:32:52.990> that's 00:32:53.340 --> 00:32:53.350 align:start position:0% everything and then that entity that's 00:32:53.350 --> 00:32:56.159 align:start position:0% everything and then that entity that's already<00:32:53.799> there<00:32:54.640> during<00:32:54.970> the<00:32:55.149> batching<00:32:55.539> can 00:32:56.159 --> 00:32:56.169 align:start position:0% already there during the batching can 00:32:56.169 --> 00:32:58.740 align:start position:0% already there during the batching can also<00:32:56.500> do<00:32:56.919> go<00:32:57.190> one<00:32:57.370> step<00:32:57.580> further<00:32:57.789> into<00:32:58.090> its 00:32:58.740 --> 00:32:58.750 align:start position:0% also do go one step further into its 00:32:58.750 --> 00:33:01.529 align:start position:0% also do go one step further into its notification<00:32:59.500> and<00:32:59.649> compression<00:33:00.130> yeah<00:33:00.730> and 00:33:01.529 --> 00:33:01.539 align:start position:0% notification and compression yeah and 00:33:01.539 --> 00:33:08.250 align:start position:0% notification and compression yeah and also<00:33:01.750> or<00:33:02.110> must<00:33:02.380> also<00:33:05.309> can<00:33:06.309> in<00:33:07.000> theory<00:33:07.779> but<00:33:08.110> in 00:33:08.250 --> 00:33:08.260 align:start position:0% also or must also can in theory but in 00:33:08.260 --> 00:33:11.430 align:start position:0% also or must also can in theory but in practice<00:33:08.730> must<00:33:09.730> if<00:33:10.029> if<00:33:10.240> if<00:33:10.720> the<00:33:10.899> costs<00:33:11.230> are<00:33:11.320> too 00:33:11.430 --> 00:33:11.440 align:start position:0% practice must if if if the costs are too 00:33:11.440 --> 00:33:11.610 align:start position:0% practice must if if if the costs are too high 00:33:11.610 --> 00:33:11.620 align:start position:0% high 00:33:11.620 --> 00:33:15.899 align:start position:0% high I<00:33:12.100> find<00:33:13.029> this<00:33:13.149> helpful<00:33:13.330> in<00:33:14.580> whether<00:33:15.580> it's<00:33:15.760> done 00:33:15.899 --> 00:33:15.909 align:start position:0% I find this helpful in whether it's done 00:33:15.909 --> 00:33:19.200 align:start position:0% I find this helpful in whether it's done in<00:33:16.029> a<00:33:16.059> hallway<00:33:16.659> or<00:33:16.960> on<00:33:17.620> stage<00:33:17.980> for<00:33:18.970> us<00:33:19.029> to 00:33:19.200 --> 00:33:19.210 align:start position:0% in a hallway or on stage for us to 00:33:19.210 --> 00:33:20.940 align:start position:0% in a hallway or on stage for us to really<00:33:19.360> press<00:33:20.140> each<00:33:20.289> other<00:33:20.470> and<00:33:20.649> break<00:33:20.799> things 00:33:20.940 --> 00:33:20.950 align:start position:0% really press each other and break things 00:33:20.950 --> 00:33:23.549 align:start position:0% really press each other and break things down<00:33:21.070> so<00:33:21.789> -<00:33:22.120> Brian<00:33:22.450> it's<00:33:23.049> a<00:33:23.169> very<00:33:23.350> similar 00:33:23.549 --> 00:33:23.559 align:start position:0% down so - Brian it's a very similar 00:33:23.559 --> 00:33:26.149 align:start position:0% down so - Brian it's a very similar question<00:33:23.740> leading<00:33:24.610> areas<00:33:24.940> of<00:33:25.179> research<00:33:25.539> that 00:33:26.149 --> 00:33:26.159 align:start position:0% question leading areas of research that 00:33:26.159 --> 00:33:28.289 align:start position:0% question leading areas of research that you've<00:33:27.159> been<00:33:27.309> seeing<00:33:27.490> in<00:33:27.820> all<00:33:28.120> different 00:33:28.289 --> 00:33:28.299 align:start position:0% you've been seeing in all different 00:33:28.299 --> 00:33:31.110 align:start position:0% you've been seeing in all different areas<00:33:28.510> of<00:33:28.750> hyper<00:33:29.140> Ledger's<00:33:29.409> focus<00:33:29.730> is<00:33:30.730> some<00:33:31.029> of 00:33:31.110 --> 00:33:31.120 align:start position:0% areas of hyper Ledger's focus is some of 00:33:31.120 --> 00:33:32.850 align:start position:0% areas of hyper Ledger's focus is some of this<00:33:31.270> beneficial<00:33:31.840> that<00:33:32.289> you<00:33:32.440> might<00:33:32.620> bring 00:33:32.850 --> 00:33:32.860 align:start position:0% this beneficial that you might bring 00:33:32.860 --> 00:33:35.250 align:start position:0% this beneficial that you might bring back<00:33:32.919> and<00:33:33.399> how<00:33:33.580> might<00:33:33.899> what's<00:33:34.899> being<00:33:35.049> worked 00:33:35.250 --> 00:33:35.260 align:start position:0% back and how might what's being worked 00:33:35.260 --> 00:33:37.230 align:start position:0% back and how might what's being worked on<00:33:35.350> in<00:33:35.559> camp<00:33:35.799> be<00:33:36.220> communicated<00:33:36.909> back<00:33:37.029> to<00:33:37.090> the 00:33:37.230 --> 00:33:37.240 align:start position:0% on in camp be communicated back to the 00:33:37.240 --> 00:33:39.480 align:start position:0% on in camp be communicated back to the public<00:33:37.480> sense<00:33:37.659> some<00:33:37.929> degree<00:33:38.169> so<00:33:38.590> project 00:33:39.480 --> 00:33:39.490 align:start position:0% public sense some degree so project 00:33:39.490 --> 00:33:41.600 align:start position:0% public sense some degree so project Avalon<00:33:39.850> which<00:33:40.120> is<00:33:40.240> just<00:33:40.419> launched<00:33:40.750> is<00:33:40.870> a 00:33:41.600 --> 00:33:41.610 align:start position:0% Avalon which is just launched is a 00:33:41.610 --> 00:33:44.250 align:start position:0% Avalon which is just launched is a project<00:33:42.610> with<00:33:42.700> consensus<00:33:43.240> collide<00:33:43.659> Oh 00:33:44.250 --> 00:33:44.260 align:start position:0% project with consensus collide Oh 00:33:44.260 --> 00:33:47.100 align:start position:0% project with consensus collide Oh Microsoft<00:33:45.100> Intel<00:33:45.610> i<00:33:46.029> exac<00:33:46.570> a<00:33:46.600> couple<00:33:46.929> of<00:33:47.020> other 00:33:47.100 --> 00:33:47.110 align:start position:0% Microsoft Intel i exac a couple of other 00:33:47.110 --> 00:33:49.980 align:start position:0% Microsoft Intel i exac a couple of other companies<00:33:47.409> are<00:33:47.620> here<00:33:47.860> to<00:33:48.520> try<00:33:48.700> to<00:33:48.760> look<00:33:49.750> at<00:33:49.870> how 00:33:49.980 --> 00:33:49.990 align:start position:0% companies are here to try to look at how 00:33:49.990 --> 00:33:52.409 align:start position:0% companies are here to try to look at how do<00:33:50.049> you<00:33:50.200> manage<00:33:50.380> and<00:33:50.740> distribute<00:33:51.070> I<00:33:51.490> could<00:33:52.299> see 00:33:52.409 --> 00:33:52.419 align:start position:0% do you manage and distribute I could see 00:33:52.419 --> 00:33:54.630 align:start position:0% do you manage and distribute I could see if<00:33:52.480> I<00:33:52.539> got<00:33:52.690> the<00:33:52.779> bullet<00:33:53.049> point<00:33:53.230> right<00:33:53.440> it's 00:33:54.630 --> 00:33:54.640 align:start position:0% if I got the bullet point right it's 00:33:54.640 --> 00:33:56.340 align:start position:0% if I got the bullet point right it's coming<00:33:55.419> up<00:33:55.510> with<00:33:55.600> like<00:33:55.659> short<00:33:55.899> descriptions 00:33:56.340 --> 00:33:56.350 align:start position:0% coming up with like short descriptions 00:33:56.350 --> 00:33:57.840 align:start position:0% coming up with like short descriptions these<00:33:56.440> projects<00:33:56.799> is<00:33:56.890> really<00:33:57.130> hard<00:33:57.340> but<00:33:57.700> it's 00:33:57.840 --> 00:33:57.850 align:start position:0% these projects is really hard but it's 00:33:57.850 --> 00:34:01.080 align:start position:0% these projects is really hard but it's how<00:33:58.059> do<00:33:58.120> you<00:33:58.179> manage<00:33:58.360> off<00:33:58.659> chain<00:33:58.990> every<00:34:00.090> secure 00:34:01.080 --> 00:34:01.090 align:start position:0% how do you manage off chain every secure 00:34:01.090 --> 00:34:03.450 align:start position:0% how do you manage off chain every secure Enclave<00:34:01.240> types<00:34:01.750> of<00:34:01.929> resources<00:34:02.740> as<00:34:03.100> a<00:34:03.159> way<00:34:03.399> to 00:34:03.450 --> 00:34:03.460 align:start position:0% Enclave types of resources as a way to 00:34:03.460 --> 00:34:05.039 align:start position:0% Enclave types of resources as a way to optimize<00:34:04.000> and<00:34:04.390> simplify<00:34:04.779> certain 00:34:05.039 --> 00:34:05.049 align:start position:0% optimize and simplify certain 00:34:05.049 --> 00:34:06.840 align:start position:0% optimize and simplify certain transactions<00:34:05.679> that<00:34:05.769> otherwise<00:34:06.130> would<00:34:06.700> need 00:34:06.840 --> 00:34:06.850 align:start position:0% transactions that otherwise would need 00:34:06.850 --> 00:34:09.060 align:start position:0% transactions that otherwise would need to<00:34:07.000> be<00:34:07.090> a<00:34:07.120> lot<00:34:07.840> more<00:34:08.020> expensive<00:34:08.260> to<00:34:08.530> perform 00:34:09.060 --> 00:34:09.070 align:start position:0% to be a lot more expensive to perform 00:34:09.070 --> 00:34:11.849 align:start position:0% to be a lot more expensive to perform around<00:34:09.899> providing<00:34:10.899> confidentiality<00:34:11.740> to 00:34:11.849 --> 00:34:11.859 align:start position:0% around providing confidentiality to 00:34:11.859 --> 00:34:13.200 align:start position:0% around providing confidentiality to transactions<00:34:12.460> and<00:34:12.580> other<00:34:12.669> types<00:34:12.940> of<00:34:13.060> things 00:34:13.200 --> 00:34:13.210 align:start position:0% transactions and other types of things 00:34:13.210 --> 00:34:15.659 align:start position:0% transactions and other types of things so<00:34:13.500> it's<00:34:14.500> something<00:34:14.980> that<00:34:15.159> implements<00:34:15.550> the 00:34:15.659 --> 00:34:15.669 align:start position:0% so it's something that implements the 00:34:15.669 --> 00:34:17.579 align:start position:0% so it's something that implements the trustee<00:34:16.060> compute<00:34:16.389> framework<00:34:16.780> definition 00:34:17.579 --> 00:34:17.589 align:start position:0% trustee compute framework definition 00:34:17.589 --> 00:34:18.990 align:start position:0% trustee compute framework definition that<00:34:17.679> the<00:34:17.859> enterprise<00:34:18.280> at<00:34:18.429> Deering<00:34:18.639> Alliance 00:34:18.990 --> 00:34:19.000 align:start position:0% that the enterprise at Deering Alliance 00:34:19.000 --> 00:34:21.629 align:start position:0% that the enterprise at Deering Alliance has<00:34:19.389> been<00:34:19.570> working<00:34:19.750> on<00:34:19.990> I<00:34:20.200> they<00:34:20.980> there's<00:34:21.429> a<00:34:21.490> lot 00:34:21.629 --> 00:34:21.639 align:start position:0% has been working on I they there's a lot 00:34:21.639 --> 00:34:23.129 align:start position:0% has been working on I they there's a lot of<00:34:21.730> interesting<00:34:22.000> ideas<00:34:22.089> there<00:34:22.450> and<00:34:22.570> it's<00:34:22.690> it's 00:34:23.129 --> 00:34:23.139 align:start position:0% of interesting ideas there and it's it's 00:34:23.139 --> 00:34:24.720 align:start position:0% of interesting ideas there and it's it's still<00:34:23.409> earlier<00:34:23.740> days<00:34:23.950> and<00:34:24.220> it's<00:34:24.339> still<00:34:24.520> more 00:34:24.720 --> 00:34:24.730 align:start position:0% still earlier days and it's still more 00:34:24.730 --> 00:34:27.510 align:start position:0% still earlier days and it's still more of<00:34:24.760> a<00:34:24.940> raw<00:34:25.149> Rd<00:34:25.629> kind<00:34:25.839> of<00:34:25.929> thing<00:34:26.080> but<00:34:26.950> you<00:34:27.369> know<00:34:27.490> I 00:34:27.510 --> 00:34:27.520 align:start position:0% of a raw Rd kind of thing but you know I 00:34:27.520 --> 00:34:28.680 align:start position:0% of a raw Rd kind of thing but you know I also<00:34:27.730> want<00:34:27.970> to<00:34:28.000> say<00:34:28.149> a<00:34:28.179> lot<00:34:28.450> of<00:34:28.510> what 00:34:28.680 --> 00:34:28.690 align:start position:0% also want to say a lot of what 00:34:28.690 --> 00:34:30.930 align:start position:0% also want to say a lot of what enterprises<00:34:29.260> need<00:34:29.409> right<00:34:29.649> now<00:34:29.830> is<00:34:30.099> a<00:34:30.580> system 00:34:30.930 --> 00:34:30.940 align:start position:0% enterprises need right now is a system 00:34:30.940 --> 00:34:35.180 align:start position:0% enterprises need right now is a system that<00:34:31.149> provides<00:34:31.599> immediate<00:34:32.589> settlement<00:34:32.980> I 00:34:35.180 --> 00:34:35.190 align:start position:0% that provides immediate settlement I 00:34:35.190 --> 00:34:37.530 align:start position:0% that provides immediate settlement I with<00:34:36.190> everybody<00:34:36.609> being<00:34:36.760> able<00:34:36.849> to<00:34:37.000> verify<00:34:37.270> this 00:34:37.530 --> 00:34:37.540 align:start position:0% with everybody being able to verify this 00:34:37.540 --> 00:34:40.159 align:start position:0% with everybody being able to verify this is<00:34:37.899> the<00:34:38.050> right<00:34:38.230> order<00:34:38.619> of<00:34:38.740> transactions 00:34:40.159 --> 00:34:40.169 align:start position:0% is the right order of transactions 00:34:40.169 --> 00:34:42.500 align:start position:0% is the right order of transactions implementing<00:34:41.169> prevention<00:34:41.619> of<00:34:41.710> double<00:34:41.980> spend 00:34:42.500 --> 00:34:42.510 align:start position:0% implementing prevention of double spend 00:34:42.510 --> 00:34:45.780 align:start position:0% implementing prevention of double spend being<00:34:43.510> able<00:34:43.599> to<00:34:43.720> implement<00:34:44.020> a<00:34:44.790> confirmation 00:34:45.780 --> 00:34:45.790 align:start position:0% being able to implement a confirmation 00:34:45.790 --> 00:34:48.329 align:start position:0% being able to implement a confirmation logic<00:34:46.179> in<00:34:46.359> the<00:34:46.480> form<00:34:46.750> of<00:34:46.990> smart<00:34:47.649> contracts<00:34:48.129> or 00:34:48.329 --> 00:34:48.339 align:start position:0% logic in the form of smart contracts or 00:34:48.339 --> 00:34:50.040 align:start position:0% logic in the form of smart contracts or chain<00:34:48.580> code<00:34:48.790> whatever<00:34:49.030> they<00:34:49.300> want<00:34:49.690> to<00:34:49.750> call<00:34:49.810> it 00:34:50.040 --> 00:34:50.050 align:start position:0% chain code whatever they want to call it 00:34:50.050 --> 00:34:52.409 align:start position:0% chain code whatever they want to call it and<00:34:50.710> through<00:34:51.190> that<00:34:51.399> you<00:34:51.580> can<00:34:51.609> solve<00:34:51.970> a<00:34:52.119> huge 00:34:52.409 --> 00:34:52.419 align:start position:0% and through that you can solve a huge 00:34:52.419 --> 00:34:54.149 align:start position:0% and through that you can solve a huge number<00:34:52.599> of<00:34:52.780> kind<00:34:53.560> of<00:34:53.619> use<00:34:53.770> cases<00:34:54.010> that 00:34:54.149 --> 00:34:54.159 align:start position:0% number of kind of use cases that 00:34:54.159 --> 00:34:56.190 align:start position:0% number of kind of use cases that otherwise<00:34:54.490> require<00:34:54.970> parking<00:34:55.690> a<00:34:55.780> central 00:34:56.190 --> 00:34:56.200 align:start position:0% otherwise require parking a central 00:34:56.200 --> 00:34:57.930 align:start position:0% otherwise require parking a central server<00:34:56.409> and<00:34:56.560> having<00:34:57.010> somebody<00:34:57.310> run<00:34:57.550> that<00:34:57.730> I 00:34:57.930 --> 00:34:57.940 align:start position:0% server and having somebody run that I 00:34:57.940 --> 00:35:00.450 align:start position:0% server and having somebody run that I and<00:34:58.869> and<00:34:59.140> and<00:34:59.440> and<00:34:59.680> this<00:34:59.800> is<00:34:59.859> a<00:35:00.010> way<00:35:00.190> you<00:35:00.250> can 00:35:00.450 --> 00:35:00.460 align:start position:0% and and and and this is a way you can 00:35:00.460 --> 00:35:02.430 align:start position:0% and and and and this is a way you can get<00:35:00.609> rid<00:35:00.670> of<00:35:00.820> Swift<00:35:01.150> you<00:35:01.420> could<00:35:01.570> get<00:35:01.720> rid<00:35:01.930> of<00:35:01.960> a 00:35:02.430 --> 00:35:02.440 align:start position:0% get rid of Swift you could get rid of a 00:35:02.440 --> 00:35:04.380 align:start position:0% get rid of Swift you could get rid of a lot<00:35:02.950> of<00:35:03.099> these<00:35:03.160> counterparties<00:35:03.880> that<00:35:04.089> today 00:35:04.380 --> 00:35:04.390 align:start position:0% lot of these counterparties that today 00:35:04.390 --> 00:35:05.490 align:start position:0% lot of these counterparties that today require<00:35:04.720> a<00:35:04.750> lot<00:35:04.900> of<00:35:04.930> trust 00:35:05.490 --> 00:35:05.500 align:start position:0% require a lot of trust 00:35:05.500 --> 00:35:07.560 align:start position:0% require a lot of trust sometimes<00:35:06.190> it's<00:35:06.430> earned<00:35:06.670> sometimes<00:35:07.210> it's<00:35:07.420> not 00:35:07.560 --> 00:35:07.570 align:start position:0% sometimes it's earned sometimes it's not 00:35:07.570 --> 00:35:10.320 align:start position:0% sometimes it's earned sometimes it's not right<00:35:07.990> sometimes<00:35:08.260> it's<00:35:08.560> just<00:35:08.650> mandated<00:35:09.330> and 00:35:10.320 --> 00:35:10.330 align:start position:0% right sometimes it's just mandated and 00:35:10.330 --> 00:35:11.730 align:start position:0% right sometimes it's just mandated and and<00:35:10.599> this<00:35:10.750> is<00:35:10.810> what's<00:35:11.109> driving<00:35:11.260> a<00:35:11.470> lot<00:35:11.500> of<00:35:11.619> the 00:35:11.730 --> 00:35:11.740 align:start position:0% and this is what's driving a lot of the 00:35:11.740 --> 00:35:13.079 align:start position:0% and this is what's driving a lot of the enterprise<00:35:12.070> interest<00:35:12.520> in<00:35:12.700> blockchain 00:35:13.079 --> 00:35:13.089 align:start position:0% enterprise interest in blockchain 00:35:13.089 --> 00:35:14.970 align:start position:0% enterprise interest in blockchain technology<00:35:13.599> today<00:35:13.780> so<00:35:13.930> I<00:35:14.320> kind<00:35:14.710> of<00:35:14.740> feel<00:35:14.890> like 00:35:14.970 --> 00:35:14.980 align:start position:0% technology today so I kind of feel like 00:35:14.980 --> 00:35:16.560 align:start position:0% technology today so I kind of feel like sometimes<00:35:15.250> a<00:35:15.609> lot<00:35:15.790> of<00:35:15.820> the<00:35:15.940> really<00:35:16.210> thorny 00:35:16.560 --> 00:35:16.570 align:start position:0% sometimes a lot of the really thorny 00:35:16.570 --> 00:35:18.870 align:start position:0% sometimes a lot of the really thorny work<00:35:16.839> and<00:35:17.050> hard<00:35:17.290> work<00:35:17.440> that<00:35:17.859> is<00:35:17.980> being<00:35:18.220> funded 00:35:18.870 --> 00:35:18.880 align:start position:0% work and hard work that is being funded 00:35:18.880 --> 00:35:20.430 align:start position:0% work and hard work that is being funded by<00:35:19.000> the<00:35:19.119> e<00:35:19.270> F<00:35:19.510> and<00:35:19.810> that<00:35:19.839> is<00:35:19.990> being<00:35:20.140> worked<00:35:20.320> on 00:35:20.430 --> 00:35:20.440 align:start position:0% by the e F and that is being worked on 00:35:20.440 --> 00:35:22.020 align:start position:0% by the e F and that is being worked on by<00:35:20.560> this<00:35:20.680> community<00:35:21.070> is<00:35:21.369> going<00:35:21.700> to<00:35:21.820> matter 00:35:22.020 --> 00:35:22.030 align:start position:0% by this community is going to matter 00:35:22.030 --> 00:35:23.970 align:start position:0% by this community is going to matter quite<00:35:22.330> a<00:35:22.359> bit<00:35:22.599> down<00:35:23.349> the<00:35:23.560> road<00:35:23.710> with<00:35:23.859> these 00:35:23.970 --> 00:35:23.980 align:start position:0% quite a bit down the road with these 00:35:23.980 --> 00:35:25.410 align:start position:0% quite a bit down the road with these Enterprise<00:35:24.490> Block<00:35:24.730> C<00:35:24.880> networks<00:35:25.150> when<00:35:25.330> they 00:35:25.410 --> 00:35:25.420 align:start position:0% Enterprise Block C networks when they 00:35:25.420 --> 00:35:27.000 align:start position:0% Enterprise Block C networks when they have<00:35:25.630> hundreds<00:35:26.320> or<00:35:26.440> thousands<00:35:26.890> of 00:35:27.000 --> 00:35:27.010 align:start position:0% have hundreds or thousands of 00:35:27.010 --> 00:35:29.010 align:start position:0% have hundreds or thousands of participants<00:35:27.160> operating<00:35:28.119> exactly<00:35:28.570> as<00:35:28.690> peers 00:35:29.010 --> 00:35:29.020 align:start position:0% participants operating exactly as peers 00:35:29.020 --> 00:35:30.450 align:start position:0% participants operating exactly as peers right<00:35:29.290> when<00:35:29.440> they<00:35:29.530> have<00:35:29.740> a<00:35:29.950> lot<00:35:30.430> of 00:35:30.450 --> 00:35:30.460 align:start position:0% right when they have a lot of 00:35:30.460 --> 00:35:32.910 align:start position:0% right when they have a lot of sophistication<00:35:31.180> a<00:35:31.270> lot<00:35:31.540> of<00:35:31.690> hostile<00:35:32.500> actors 00:35:32.910 --> 00:35:32.920 align:start position:0% sophistication a lot of hostile actors 00:35:32.920 --> 00:35:34.260 align:start position:0% sophistication a lot of hostile actors on<00:35:33.160> the<00:35:33.250> networks<00:35:33.490> that<00:35:33.609> they<00:35:33.730> have<00:35:33.880> to<00:35:34.060> try<00:35:34.240> to 00:35:34.260 --> 00:35:34.270 align:start position:0% on the networks that they have to try to 00:35:34.270 --> 00:35:36.720 align:start position:0% on the networks that they have to try to algorithmically<00:35:35.050> prevent<00:35:35.530> today<00:35:36.400> you<00:35:36.460> can 00:35:36.720 --> 00:35:36.730 align:start position:0% algorithmically prevent today you can 00:35:36.730 --> 00:35:38.130 align:start position:0% algorithmically prevent today you can make<00:35:36.760> up<00:35:37.060> for<00:35:37.089> a<00:35:37.300> lot<00:35:37.420> of<00:35:37.570> that<00:35:37.690> with<00:35:37.960> better 00:35:38.130 --> 00:35:38.140 align:start position:0% make up for a lot of that with better 00:35:38.140 --> 00:35:40.829 align:start position:0% make up for a lot of that with better with<00:35:38.770> with<00:35:39.010> forms<00:35:39.609> of<00:35:39.730> human<00:35:40.030> governance<00:35:40.420> that 00:35:40.829 --> 00:35:40.839 align:start position:0% with with forms of human governance that 00:35:40.839 --> 00:35:42.839 align:start position:0% with with forms of human governance that operate<00:35:41.230> at<00:35:41.260> smaller<00:35:41.710> scale<00:35:42.070> but<00:35:42.339> still 00:35:42.839 --> 00:35:42.849 align:start position:0% operate at smaller scale but still 00:35:42.849 --> 00:35:44.310 align:start position:0% operate at smaller scale but still provide<00:35:43.150> enough<00:35:43.450> of<00:35:43.540> that<00:35:43.599> guarantee<00:35:44.050> and 00:35:44.310 --> 00:35:44.320 align:start position:0% provide enough of that guarantee and 00:35:44.320 --> 00:35:45.750 align:start position:0% provide enough of that guarantee and frankly<00:35:44.830> enough<00:35:45.010> with<00:35:45.130> is<00:35:45.250> still<00:35:45.369> the<00:35:45.580> right 00:35:45.750 --> 00:35:45.760 align:start position:0% frankly enough with is still the right 00:35:45.760 --> 00:35:47.760 align:start position:0% frankly enough with is still the right to<00:35:45.940> fork<00:35:46.240> since<00:35:46.690> everybody<00:35:47.080> has<00:35:47.140> a<00:35:47.349> copy<00:35:47.650> of 00:35:47.760 --> 00:35:47.770 align:start position:0% to fork since everybody has a copy of 00:35:47.770 --> 00:35:49.829 align:start position:0% to fork since everybody has a copy of the<00:35:47.830> ledger<00:35:48.070> if<00:35:48.520> they<00:35:48.730> disagree<00:35:49.240> they<00:35:49.420> can<00:35:49.690> go 00:35:49.829 --> 00:35:49.839 align:start position:0% the ledger if they disagree they can go 00:35:49.839 --> 00:35:50.490 align:start position:0% the ledger if they disagree they can go their<00:35:50.020> separate<00:35:50.290> ways 00:35:50.490 --> 00:35:50.500 align:start position:0% their separate ways 00:35:50.500 --> 00:35:52.770 align:start position:0% their separate ways and<00:35:51.130> that<00:35:51.430> provides<00:35:51.730> enough<00:35:52.060> of<00:35:52.180> a<00:35:52.270> check<00:35:52.480> on 00:35:52.770 --> 00:35:52.780 align:start position:0% and that provides enough of a check on 00:35:52.780 --> 00:35:55.290 align:start position:0% and that provides enough of a check on tyranny<00:35:53.290> I<00:35:53.950> will<00:35:54.280> say<00:35:54.430> sometimes<00:35:54.790> being<00:35:55.210> too 00:35:55.290 --> 00:35:55.300 align:start position:0% tyranny I will say sometimes being too 00:35:55.300 --> 00:35:57.930 align:start position:0% tyranny I will say sometimes being too early<00:35:55.810> is<00:35:55.960> just<00:35:56.230> as<00:35:56.349> bad<00:35:56.530> as<00:35:56.740> being<00:35:56.890> wrong<00:35:57.160> I've 00:35:57.930 --> 00:35:57.940 align:start position:0% early is just as bad as being wrong I've 00:35:57.940 --> 00:35:59.800 align:start position:0% early is just as bad as being wrong I've seen<00:35:58.420> a<00:35:58.660> lot<00:35:58.900> of 00:35:59.800 --> 00:35:59.810 align:start position:0% seen a lot of 00:35:59.810 --> 00:36:01.240 align:start position:0% seen a lot of with<00:35:59.900> internet<00:36:00.290> startups<00:36:00.740> as<00:36:00.890> well<00:36:00.920> as 00:36:01.240 --> 00:36:01.250 align:start position:0% with internet startups as well as 00:36:01.250 --> 00:36:04.300 align:start position:0% with internet startups as well as standards<00:36:01.670> efforts<00:36:02.000> that<00:36:02.210> I<00:36:02.420> tried<00:36:03.320> to<00:36:03.350> define 00:36:04.300 --> 00:36:04.310 align:start position:0% standards efforts that I tried to define 00:36:04.310 --> 00:36:05.710 align:start position:0% standards efforts that I tried to define a<00:36:04.340> world<00:36:04.610> and<00:36:04.820> solve<00:36:05.000> problems<00:36:05.210> long<00:36:05.690> before 00:36:05.710 --> 00:36:05.720 align:start position:0% a world and solve problems long before 00:36:05.720 --> 00:36:07.300 align:start position:0% a world and solve problems long before their<00:36:06.170> world<00:36:06.320> was<00:36:06.440> ready<00:36:06.650> for<00:36:06.830> them<00:36:06.980> in<00:36:07.190> the 00:36:07.300 --> 00:36:07.310 align:start position:0% their world was ready for them in the 00:36:07.310 --> 00:36:08.800 align:start position:0% their world was ready for them in the early<00:36:07.550> 2000s<00:36:08.180> there<00:36:08.270> is<00:36:08.390> a<00:36:08.420> bunch<00:36:08.690> of 00:36:08.800 --> 00:36:08.810 align:start position:0% early 2000s there is a bunch of 00:36:08.810 --> 00:36:11.080 align:start position:0% early 2000s there is a bunch of standards<00:36:09.530> work<00:36:09.710> around<00:36:10.070> Oh<00:36:10.280> off<00:36:10.490> and<00:36:10.700> open<00:36:10.910> ID 00:36:11.080 --> 00:36:11.090 align:start position:0% standards work around Oh off and open ID 00:36:11.090 --> 00:36:13.000 align:start position:0% standards work around Oh off and open ID that<00:36:11.750> tried<00:36:11.990> to<00:36:12.110> essentially<00:36:12.740> say<00:36:12.860> we're 00:36:13.000 --> 00:36:13.010 align:start position:0% that tried to essentially say we're 00:36:13.010 --> 00:36:14.440 align:start position:0% that tried to essentially say we're gonna<00:36:13.130> build<00:36:13.400> a<00:36:13.520> decentralized<00:36:14.210> social 00:36:14.440 --> 00:36:14.450 align:start position:0% gonna build a decentralized social 00:36:14.450 --> 00:36:16.030 align:start position:0% gonna build a decentralized social network<00:36:14.900> here's<00:36:15.440> all<00:36:15.590> the<00:36:15.710> building<00:36:16.010> blocks 00:36:16.030 --> 00:36:16.040 align:start position:0% network here's all the building blocks 00:36:16.040 --> 00:36:17.830 align:start position:0% network here's all the building blocks to<00:36:16.310> do<00:36:16.520> it<00:36:16.640> and<00:36:16.790> they're<00:36:17.090> all<00:36:17.240> relatively 00:36:17.830 --> 00:36:17.840 align:start position:0% to do it and they're all relatively 00:36:17.840 --> 00:36:19.270 align:start position:0% to do it and they're all relatively finished<00:36:18.230> it<00:36:18.650> just<00:36:18.890> turned<00:36:19.070> out<00:36:19.160> that 00:36:19.270 --> 00:36:19.280 align:start position:0% finished it just turned out that 00:36:19.280 --> 00:36:21.070 align:start position:0% finished it just turned out that Facebook<00:36:19.730> took<00:36:19.850> off<00:36:20.060> and<00:36:20.390> everybody<00:36:20.810> went<00:36:20.930> to 00:36:21.070 --> 00:36:21.080 align:start position:0% Facebook took off and everybody went to 00:36:21.080 --> 00:36:23.050 align:start position:0% Facebook took off and everybody went to that<00:36:21.290> and<00:36:21.500> there<00:36:21.860> was<00:36:21.980> no<00:36:22.130> both<00:36:22.340> no<00:36:22.520> funding<00:36:22.910> as 00:36:23.050 --> 00:36:23.060 align:start position:0% that and there was no both no funding as 00:36:23.060 --> 00:36:25.090 align:start position:0% that and there was no both no funding as well<00:36:23.180> as<00:36:23.240> no<00:36:23.420> momentum<00:36:23.960> behind<00:36:24.110> independent 00:36:25.090 --> 00:36:25.100 align:start position:0% well as no momentum behind independent 00:36:25.100 --> 00:36:26.500 align:start position:0% well as no momentum behind independent implementations<00:36:25.820> of<00:36:25.910> all<00:36:26.000> these<00:36:26.120> underlying 00:36:26.500 --> 00:36:26.510 align:start position:0% implementations of all these underlying 00:36:26.510 --> 00:36:29.170 align:start position:0% implementations of all these underlying technologies<00:36:27.200> and<00:36:27.470> so<00:36:27.890> I<00:36:28.130> think<00:36:28.700> we<00:36:28.940> just<00:36:28.970> have 00:36:29.170 --> 00:36:29.180 align:start position:0% technologies and so I think we just have 00:36:29.180 --> 00:36:31.270 align:start position:0% technologies and so I think we just have to<00:36:29.270> be<00:36:29.390> careful<00:36:29.720> about<00:36:29.990> going<00:36:30.620> too<00:36:30.830> far<00:36:31.070> down<00:36:31.220> a 00:36:31.270 --> 00:36:31.280 align:start position:0% to be careful about going too far down a 00:36:31.280 --> 00:36:33.630 align:start position:0% to be careful about going too far down a rabbit<00:36:31.490> hole<00:36:31.670> that<00:36:32.000> doesn't<00:36:32.510> have<00:36:32.690> enough<00:36:33.050> i 00:36:33.630 --> 00:36:33.640 align:start position:0% rabbit hole that doesn't have enough i 00:36:33.640 --> 00:36:35.860 align:start position:0% rabbit hole that doesn't have enough i end-user<00:36:34.640> validation<00:36:35.240> and<00:36:35.420> enough<00:36:35.690> momentum 00:36:35.860 --> 00:36:35.870 align:start position:0% end-user validation and enough momentum 00:36:35.870 --> 00:36:37.690 align:start position:0% end-user validation and enough momentum to<00:36:36.380> make<00:36:36.560> sure<00:36:36.740> that<00:36:36.860> we're<00:36:37.010> not<00:36:37.040> solving 00:36:37.690 --> 00:36:37.700 align:start position:0% to make sure that we're not solving 00:36:37.700 --> 00:36:38.800 align:start position:0% to make sure that we're not solving problems<00:36:37.880> that<00:36:38.180> don't<00:36:38.300> actually<00:36:38.480> end<00:36:38.720> up 00:36:38.800 --> 00:36:38.810 align:start position:0% problems that don't actually end up 00:36:38.810 --> 00:36:40.930 align:start position:0% problems that don't actually end up being<00:36:39.080> problems<00:36:39.830> by<00:36:39.980> the<00:36:40.040> time<00:36:40.250> the<00:36:40.580> world<00:36:40.790> is 00:36:40.930 --> 00:36:40.940 align:start position:0% being problems by the time the world is 00:36:40.940 --> 00:36:43.810 align:start position:0% being problems by the time the world is ready<00:36:41.090> for<00:36:41.180> that<00:36:41.840> software<00:36:42.200> okay<00:36:43.010> it<00:36:43.610> doesn't 00:36:43.810 --> 00:36:43.820 align:start position:0% ready for that software okay it doesn't 00:36:43.820 --> 00:36:46.290 align:start position:0% ready for that software okay it doesn't we<00:36:44.360> have<00:36:44.480> just<00:36:44.750> a<00:36:44.810> couple<00:36:44.990> of<00:36:45.110> minutes<00:36:45.410> left<00:36:45.620> so 00:36:46.290 --> 00:36:46.300 align:start position:0% we have just a couple of minutes left so 00:36:46.300 --> 00:36:49.150 align:start position:0% we have just a couple of minutes left so we've<00:36:47.300> spoken<00:36:47.660> over<00:36:47.930> the<00:36:48.020> last<00:36:48.260> almost<00:36:48.620> 40 00:36:49.150 --> 00:36:49.160 align:start position:0% we've spoken over the last almost 40 00:36:49.160 --> 00:36:52.840 align:start position:0% we've spoken over the last almost 40 minutes<00:36:49.490> about<00:36:49.910> different<00:36:51.850> different 00:36:52.840 --> 00:36:52.850 align:start position:0% minutes about different different 00:36:52.850 --> 00:36:57.010 align:start position:0% minutes about different different efforts<00:36:53.470> in<00:36:54.470> the<00:36:54.620> research<00:36:54.950> and<00:36:55.450> for<00:36:56.450> for 00:36:57.010 --> 00:36:57.020 align:start position:0% efforts in the research and for for 00:36:57.020 --> 00:36:59.200 align:start position:0% efforts in the research and for for bringing<00:36:57.920> this<00:36:58.130> whole<00:36:58.430> ecosystem<00:36:59.060> together 00:36:59.200 --> 00:36:59.210 align:start position:0% bringing this whole ecosystem together 00:36:59.210 --> 00:37:01.270 align:start position:0% bringing this whole ecosystem together whether<00:36:59.630> they<00:36:59.930> are<00:37:00.170> on<00:37:00.470> the<00:37:00.650> private<00:37:00.980> end<00:37:01.130> on 00:37:01.270 --> 00:37:01.280 align:start position:0% whether they are on the private end on 00:37:01.280 --> 00:37:02.740 align:start position:0% whether they are on the private end on the<00:37:01.370> public<00:37:01.670> and<00:37:01.790> the<00:37:02.300> last<00:37:02.420> couple<00:37:02.660> of 00:37:02.740 --> 00:37:02.750 align:start position:0% the public and the last couple of 00:37:02.750 --> 00:37:03.820 align:start position:0% the public and the last couple of minutes<00:37:03.020> I'm<00:37:03.110> gonna<00:37:03.200> ask<00:37:03.290> a<00:37:03.470> question<00:37:03.590> that 00:37:03.820 --> 00:37:03.830 align:start position:0% minutes I'm gonna ask a question that 00:37:03.830 --> 00:37:06.130 align:start position:0% minutes I'm gonna ask a question that I'm<00:37:03.950> personally<00:37:04.400> curious<00:37:04.760> about<00:37:04.940> we've<00:37:05.900> seen 00:37:06.130 --> 00:37:06.140 align:start position:0% I'm personally curious about we've seen 00:37:06.140 --> 00:37:07.750 align:start position:0% I'm personally curious about we've seen things<00:37:06.350> again<00:37:06.650> in<00:37:06.770> their<00:37:06.860> design<00:37:07.340> framework 00:37:07.750 --> 00:37:07.760 align:start position:0% things again in their design framework 00:37:07.760 --> 00:37:09.490 align:start position:0% things again in their design framework come<00:37:08.240> much<00:37:08.450> closer<00:37:08.720> together<00:37:09.020> over<00:37:09.290> the<00:37:09.380> last 00:37:09.490 --> 00:37:09.500 align:start position:0% come much closer together over the last 00:37:09.500 --> 00:37:13.480 align:start position:0% come much closer together over the last few<00:37:09.740> years<00:37:09.800> I<00:37:10.190> used<00:37:10.940> to<00:37:11.270> know<00:37:11.420> 2015<00:37:12.410> or<00:37:12.530> so<00:37:12.740> what 00:37:13.480 --> 00:37:13.490 align:start position:0% few years I used to know 2015 or so what 00:37:13.490 --> 00:37:15.610 align:start position:0% few years I used to know 2015 or so what might<00:37:13.790> this<00:37:14.030> look<00:37:14.090> like<00:37:14.510> in<00:37:14.720> four<00:37:14.930> years<00:37:15.200> all 00:37:15.610 --> 00:37:15.620 align:start position:0% might this look like in four years all 00:37:15.620 --> 00:37:15.790 align:start position:0% might this look like in four years all right 00:37:15.790 --> 00:37:15.800 align:start position:0% right 00:37:15.800 --> 00:37:17.710 align:start position:0% right you<00:37:16.370> figure<00:37:16.670> we're<00:37:16.910> probably<00:37:17.120> there<00:37:17.420> a<00:37:17.480> little 00:37:17.710 --> 00:37:17.720 align:start position:0% you figure we're probably there a little 00:37:17.720 --> 00:37:19.330 align:start position:0% you figure we're probably there a little bit<00:37:17.870> sooner<00:37:18.200> than<00:37:18.350> we<00:37:18.500> are<00:37:18.650> so<00:37:18.980> on<00:37:19.070> and<00:37:19.220> so 00:37:19.330 --> 00:37:19.340 align:start position:0% bit sooner than we are so on and so 00:37:19.340 --> 00:37:23.380 align:start position:0% bit sooner than we are so on and so forth<00:37:20.260> what<00:37:21.260> does<00:37:21.530> hyper<00:37:22.070> Ledger's<00:37:22.490> going 00:37:23.380 --> 00:37:23.390 align:start position:0% forth what does hyper Ledger's going 00:37:23.390 --> 00:37:25.500 align:start position:0% forth what does hyper Ledger's going down<00:37:23.570> the<00:37:23.720> line<00:37:23.870> to<00:37:24.080> close<00:37:24.290> what<00:37:24.620> is<00:37:24.650> and 00:37:25.500 --> 00:37:25.510 align:start position:0% down the line to close what is and 00:37:25.510 --> 00:37:27.790 align:start position:0% down the line to close what is and hopefully<00:37:26.510> if<00:37:26.630> you<00:37:26.720> can<00:37:26.930> about<00:37:27.200> 50<00:37:27.470> seconds 00:37:27.790 --> 00:37:27.800 align:start position:0% hopefully if you can about 50 seconds 00:37:27.800 --> 00:37:29.200 align:start position:0% hopefully if you can about 50 seconds what<00:37:28.250> does<00:37:28.340> it<00:37:28.430> look<00:37:28.550> like<00:37:28.700> in<00:37:28.850> four<00:37:29.060> five 00:37:29.200 --> 00:37:29.210 align:start position:0% what does it look like in four five 00:37:29.210 --> 00:37:31.390 align:start position:0% what does it look like in four five years<00:37:29.480> when<00:37:30.140> these<00:37:30.620> systems<00:37:31.010> are<00:37:31.220> developed 00:37:31.390 --> 00:37:31.400 align:start position:0% years when these systems are developed 00:37:31.400 --> 00:37:33.550 align:start position:0% years when these systems are developed does<00:37:32.000> it<00:37:32.180> is<00:37:32.360> it<00:37:32.510> all<00:37:32.690> too<00:37:32.990> different<00:37:33.350> from<00:37:33.410> the 00:37:33.550 --> 00:37:33.560 align:start position:0% does it is it all too different from the 00:37:33.560 --> 00:37:34.750 align:start position:0% does it is it all too different from the public<00:37:33.860> space<00:37:34.070> and<00:37:34.190> what<00:37:34.310> is<00:37:34.400> the<00:37:34.460> public's 00:37:34.750 --> 00:37:34.760 align:start position:0% public space and what is the public's 00:37:34.760 --> 00:37:37.120 align:start position:0% public space and what is the public's basically<00:37:35.180> I<00:37:35.330> my<00:37:36.050> hope<00:37:36.200> is<00:37:36.320> that<00:37:36.350> there's<00:37:36.680> a 00:37:37.120 --> 00:37:37.130 align:start position:0% basically I my hope is that there's a 00:37:37.130 --> 00:37:39.190 align:start position:0% basically I my hope is that there's a handful<00:37:37.880> of<00:37:37.940> technologies<00:37:38.510> that<00:37:38.810> people<00:37:39.080> can 00:37:39.190 --> 00:37:39.200 align:start position:0% handful of technologies that people can 00:37:39.200 --> 00:37:40.570 align:start position:0% handful of technologies that people can pick<00:37:39.320> up<00:37:39.440> and<00:37:39.650> deploy<00:37:39.950> without<00:37:40.280> thinking 00:37:40.570 --> 00:37:40.580 align:start position:0% pick up and deploy without thinking 00:37:40.580 --> 00:37:42.520 align:start position:0% pick up and deploy without thinking twice<00:37:40.700> but<00:37:41.300> there's<00:37:41.510> an<00:37:41.720> API<00:37:42.020> they<00:37:42.260> can<00:37:42.410> use 00:37:42.520 --> 00:37:42.530 align:start position:0% twice but there's an API they can use 00:37:42.530 --> 00:37:43.900 align:start position:0% twice but there's an API they can use and<00:37:42.740> not<00:37:42.830> worried<00:37:43.160> too<00:37:43.310> much<00:37:43.340> about<00:37:43.490> what's 00:37:43.900 --> 00:37:43.910 align:start position:0% and not worried too much about what's 00:37:43.910 --> 00:37:45.400 align:start position:0% and not worried too much about what's going<00:37:44.150> on<00:37:44.240> under<00:37:44.450> the<00:37:44.510> covers<00:37:44.810> but<00:37:45.170> if<00:37:45.290> they 00:37:45.400 --> 00:37:45.410 align:start position:0% going on under the covers but if they 00:37:45.410 --> 00:37:47.260 align:start position:0% going on under the covers but if they need<00:37:45.620> to<00:37:45.860> it's<00:37:46.130> open<00:37:46.430> source<00:37:46.610> they<00:37:46.880> can<00:37:46.910> drill 00:37:47.260 --> 00:37:47.270 align:start position:0% need to it's open source they can drill 00:37:47.270 --> 00:37:48.940 align:start position:0% need to it's open source they can drill in<00:37:47.420> and<00:37:47.750> figure<00:37:48.260> out<00:37:48.290> what's<00:37:48.440> going<00:37:48.620> on<00:37:48.740> and 00:37:48.940 --> 00:37:48.950 align:start position:0% in and figure out what's going on and 00:37:48.950 --> 00:37:50.890 align:start position:0% in and figure out what's going on and fix<00:37:49.130> things<00:37:49.280> if<00:37:49.490> they<00:37:49.610> need<00:37:49.820> I<00:37:50.180> do<00:37:50.510> see<00:37:50.870> us 00:37:50.890 --> 00:37:50.900 align:start position:0% fix things if they need I do see us 00:37:50.900 --> 00:37:52.570 align:start position:0% fix things if they need I do see us pretty<00:37:51.170> much<00:37:51.260> sticking<00:37:51.650> to<00:37:51.950> being<00:37:52.280> a<00:37:52.370> place 00:37:52.570 --> 00:37:52.580 align:start position:0% pretty much sticking to being a place 00:37:52.580 --> 00:37:54.340 align:start position:0% pretty much sticking to being a place where<00:37:52.610> software<00:37:53.090> gets<00:37:53.300> built<00:37:53.480> and<00:37:53.600> leaving 00:37:54.340 --> 00:37:54.350 align:start position:0% where software gets built and leaving 00:37:54.350 --> 00:37:56.770 align:start position:0% where software gets built and leaving standards<00:37:54.860> work<00:37:55.070> up<00:37:55.280> to<00:37:55.520> folks<00:37:55.790> like<00:37:55.880> EEA<00:37:56.390> or 00:37:56.770 --> 00:37:56.780 align:start position:0% standards work up to folks like EEA or 00:37:56.780 --> 00:37:59.470 align:start position:0% standards work up to folks like EEA or the<00:37:56.900> EIP<00:37:57.140> process<00:37:57.800> or<00:37:58.010> other<00:37:58.520> groups<00:37:59.150> kind<00:37:59.360> of 00:37:59.470 --> 00:37:59.480 align:start position:0% the EIP process or other groups kind of 00:37:59.480 --> 00:38:01.540 align:start position:0% the EIP process or other groups kind of thinking<00:37:59.720> about<00:37:59.780> how<00:38:00.110> do<00:38:00.170> you<00:38:00.260> get<00:38:01.250> agreement 00:38:01.540 --> 00:38:01.550 align:start position:0% thinking about how do you get agreement 00:38:01.550 --> 00:38:03.070 align:start position:0% thinking about how do you get agreement between<00:38:01.820> parties<00:38:02.300> about<00:38:02.570> kind<00:38:02.960> of<00:38:02.990> the 00:38:03.070 --> 00:38:03.080 align:start position:0% between parties about kind of the 00:38:03.080 --> 00:38:05.080 align:start position:0% between parties about kind of the protocol<00:38:03.590> there<00:38:03.800> but<00:38:04.220> when<00:38:04.610> you<00:38:04.700> want<00:38:04.880> to<00:38:04.910> come 00:38:05.080 --> 00:38:05.090 align:start position:0% protocol there but when you want to come 00:38:05.090 --> 00:38:06.820 align:start position:0% protocol there but when you want to come together<00:38:05.210> and<00:38:05.570> simply<00:38:05.780> get<00:38:06.320> better<00:38:06.560> leverage 00:38:06.820 --> 00:38:06.830 align:start position:0% together and simply get better leverage 00:38:06.830 --> 00:38:08.130 align:start position:0% together and simply get better leverage on<00:38:07.220> you<00:38:07.730> know<00:38:07.820> if 00:38:08.130 --> 00:38:08.140 align:start position:0% on you know if 00:38:08.140 --> 00:38:09.420 align:start position:0% on you know if the<00:38:08.200> precious<00:38:08.620> time<00:38:08.800> that<00:38:08.830> it<00:38:09.010> takes<00:38:09.100> to<00:38:09.280> put 00:38:09.420 --> 00:38:09.430 align:start position:0% the precious time that it takes to put 00:38:09.430 --> 00:38:10.740 align:start position:0% the precious time that it takes to put software<00:38:09.820> together<00:38:09.910> that's<00:38:10.300> that's<00:38:10.600> why 00:38:10.740 --> 00:38:10.750 align:start position:0% software together that's that's why 00:38:10.750 --> 00:38:12.120 align:start position:0% software together that's that's why working<00:38:11.020> together<00:38:11.170> in<00:38:11.470> any<00:38:11.620> open-source 00:38:12.120 --> 00:38:12.130 align:start position:0% working together in any open-source 00:38:12.130 --> 00:38:14.700 align:start position:0% working together in any open-source community<00:38:12.550> makes<00:38:13.270> sense<00:38:13.450> we<00:38:14.200> want<00:38:14.290> to<00:38:14.410> keep 00:38:14.700 --> 00:38:14.710 align:start position:0% community makes sense we want to keep 00:38:14.710 --> 00:38:16.920 align:start position:0% community makes sense we want to keep doing<00:38:14.770> for<00:38:15.040> the<00:38:15.100> next<00:38:15.130> four<00:38:15.370> years<00:38:15.400> thank<00:38:16.000> you 00:38:16.920 --> 00:38:16.930 align:start position:0% doing for the next four years thank you 00:38:16.930 --> 00:38:18.750 align:start position:0% doing for the next four years thank you so<00:38:17.500> what<00:38:17.620> does<00:38:17.710> Summa<00:38:18.010> look<00:38:18.190> like<00:38:18.370> in<00:38:18.520> four 00:38:18.750 --> 00:38:18.760 align:start position:0% so what does Summa look like in four 00:38:18.760 --> 00:38:22.050 align:start position:0% so what does Summa look like in four years<00:38:19.260> I<00:38:20.260> think<00:38:20.890> that<00:38:21.250> depends<00:38:21.580> a<00:38:21.640> lot<00:38:21.730> on<00:38:21.790> what 00:38:22.050 --> 00:38:22.060 align:start position:0% years I think that depends a lot on what 00:38:22.060 --> 00:38:24.060 align:start position:0% years I think that depends a lot on what the<00:38:22.240> whole<00:38:22.840> ecosystem<00:38:23.050> looks<00:38:23.590> like<00:38:23.740> in<00:38:23.860> four 00:38:24.060 --> 00:38:24.070 align:start position:0% the whole ecosystem looks like in four 00:38:24.070 --> 00:38:25.860 align:start position:0% the whole ecosystem looks like in four years<00:38:24.280> at<00:38:24.580> Summa<00:38:25.000> we<00:38:25.150> try<00:38:25.330> to<00:38:25.390> work<00:38:25.600> on<00:38:25.750> the 00:38:25.860 --> 00:38:25.870 align:start position:0% years at Summa we try to work on the 00:38:25.870 --> 00:38:28.110 align:start position:0% years at Summa we try to work on the chains<00:38:26.140> with<00:38:26.380> the<00:38:26.530> most<00:38:26.710> impact<00:38:27.190> today<00:38:27.820> that 00:38:28.110 --> 00:38:28.120 align:start position:0% chains with the most impact today that 00:38:28.120 --> 00:38:30.780 align:start position:0% chains with the most impact today that means<00:38:28.270> Bitcoin<00:38:28.780> in<00:38:28.990> aetherium<00:38:29.520> cosmos<00:38:30.520> and 00:38:30.780 --> 00:38:30.790 align:start position:0% means Bitcoin in aetherium cosmos and 00:38:30.790 --> 00:38:32.160 align:start position:0% means Bitcoin in aetherium cosmos and polka<00:38:31.030> dot<00:38:31.150> are<00:38:31.300> up<00:38:31.420> and<00:38:31.600> commenting<00:38:32.020> and 00:38:32.160 --> 00:38:32.170 align:start position:0% polka dot are up and commenting and 00:38:32.170 --> 00:38:33.960 align:start position:0% polka dot are up and commenting and there's<00:38:32.320> a<00:38:32.380> handful<00:38:33.130> of<00:38:33.190> other<00:38:33.460> chains<00:38:33.790> that 00:38:33.960 --> 00:38:33.970 align:start position:0% there's a handful of other chains that 00:38:33.970 --> 00:38:36.420 align:start position:0% there's a handful of other chains that are<00:38:34.030> interesting<00:38:34.890> we've<00:38:35.890> started<00:38:36.190> working 00:38:36.420 --> 00:38:36.430 align:start position:0% are interesting we've started working 00:38:36.430 --> 00:38:38.490 align:start position:0% are interesting we've started working with<00:38:36.790> private<00:38:37.120> chains<00:38:37.540> as<00:38:37.720> well<00:38:37.750> we've<00:38:38.230> worked 00:38:38.490 --> 00:38:38.500 align:start position:0% with private chains as well we've worked 00:38:38.500 --> 00:38:41.340 align:start position:0% with private chains as well we've worked a<00:38:38.560> little<00:38:38.680> bit<00:38:38.920> with<00:38:39.190> like<00:38:39.220> quorum<00:38:40.030> like<00:38:41.020> just 00:38:41.340 --> 00:38:41.350 align:start position:0% a little bit with like quorum like just 00:38:41.350 --> 00:38:44.100 align:start position:0% a little bit with like quorum like just playing<00:38:41.710> around<00:38:41.890> with<00:38:42.220> it<00:38:42.460> I'm<00:38:42.900> hopeful<00:38:43.900> that 00:38:44.100 --> 00:38:44.110 align:start position:0% playing around with it I'm hopeful that 00:38:44.110 --> 00:38:45.450 align:start position:0% playing around with it I'm hopeful that within<00:38:44.350> four<00:38:44.740> years<00:38:44.770> we'll<00:38:45.130> have<00:38:45.160> a<00:38:45.310> better 00:38:45.450 --> 00:38:45.460 align:start position:0% within four years we'll have a better 00:38:45.460 --> 00:38:47.520 align:start position:0% within four years we'll have a better idea<00:38:45.550> of<00:38:45.790> what<00:38:45.880> the<00:38:46.240> space<00:38:46.540> looks<00:38:46.570> like<00:38:47.230> and 00:38:47.520 --> 00:38:47.530 align:start position:0% idea of what the space looks like and 00:38:47.530 --> 00:38:50.280 align:start position:0% idea of what the space looks like and we'll<00:38:48.220> be<00:38:48.340> running<00:38:48.700> multiple<00:38:49.660> cross<00:38:50.050> chain 00:38:50.280 --> 00:38:50.290 align:start position:0% we'll be running multiple cross chain 00:38:50.290 --> 00:38:54.650 align:start position:0% we'll be running multiple cross chain relays<00:38:50.710> and<00:38:51.070> multiple<00:38:51.430> ecosystems<00:38:52.410> Justin 00:38:54.650 --> 00:38:54.660 align:start position:0% relays and multiple ecosystems Justin 00:38:54.660 --> 00:38:57.120 align:start position:0% relays and multiple ecosystems Justin well<00:38:55.660> I'm<00:38:55.840> hopeful<00:38:56.320> that<00:38:56.350> in<00:38:56.620> four<00:38:56.830> years<00:38:56.860> you 00:38:57.120 --> 00:38:57.130 align:start position:0% well I'm hopeful that in four years you 00:38:57.130 --> 00:39:02.150 align:start position:0% well I'm hopeful that in four years you know<00:38:57.370> we'll<00:38:57.520> have<00:38:57.750> figured<00:38:58.750> out<00:38:59.880> sustainable 00:39:02.150 --> 00:39:02.160 align:start position:0% know we'll have figured out sustainable 00:39:02.160 --> 00:39:04.290 align:start position:0% know we'll have figured out sustainable interpret<00:39:03.160> bility<00:39:03.430> within<00:39:03.730> the<00:39:03.790> context<00:39:04.120> of<00:39:04.210> a 00:39:04.290 --> 00:39:04.300 align:start position:0% interpret bility within the context of a 00:39:04.300 --> 00:39:06.300 align:start position:0% interpret bility within the context of a theorem<00:39:04.630> and<00:39:04.750> and<00:39:04.930> a<00:39:04.990> homogeneous<00:39:05.470> chance<00:39:05.770> but 00:39:06.300 --> 00:39:06.310 align:start position:0% theorem and and a homogeneous chance but 00:39:06.310 --> 00:39:09.270 align:start position:0% theorem and and a homogeneous chance but also<00:39:06.490> hopeful<00:39:07.090> that<00:39:07.320> we'll<00:39:08.320> be<00:39:08.500> you<00:39:09.220> know 00:39:09.270 --> 00:39:09.280 align:start position:0% also hopeful that we'll be you know 00:39:09.280 --> 00:39:12.210 align:start position:0% also hopeful that we'll be you know working<00:39:09.820> very<00:39:10.000> closely<00:39:10.300> with<00:39:11.220> components 00:39:12.210 --> 00:39:12.220 align:start position:0% working very closely with components 00:39:12.220 --> 00:39:15.180 align:start position:0% working very closely with components that<00:39:12.760> are<00:39:13.210> fit<00:39:13.510> for<00:39:13.810> example<00:39:14.260> in<00:39:14.380> the<00:39:14.800> web<00:39:14.980> 3 00:39:15.180 --> 00:39:15.190 align:start position:0% that are fit for example in the web 3 00:39:15.190 --> 00:39:18.450 align:start position:0% that are fit for example in the web 3 framework<00:39:15.610> so<00:39:16.800> you<00:39:17.800> know<00:39:17.920> decentralized 00:39:18.450 --> 00:39:18.460 align:start position:0% framework so you know decentralized 00:39:18.460 --> 00:39:20.610 align:start position:0% framework so you know decentralized storage<00:39:18.850> at<00:39:19.000> scale<00:39:19.210> for<00:39:19.450> example<00:39:19.900> as<00:39:20.200> a<00:39:20.350> nice 00:39:20.610 --> 00:39:20.620 align:start position:0% storage at scale for example as a nice 00:39:20.620 --> 00:39:22.680 align:start position:0% storage at scale for example as a nice complement<00:39:21.160> to<00:39:21.550> decentralize<00:39:22.420> their 00:39:22.680 --> 00:39:22.690 align:start position:0% complement to decentralize their 00:39:22.690 --> 00:39:26.430 align:start position:0% complement to decentralize their computation<00:39:23.260> and<00:39:23.440> data<00:39:23.680> availability<00:39:25.440> also 00:39:26.430 --> 00:39:26.440 align:start position:0% computation and data availability also 00:39:26.440 --> 00:39:29.700 align:start position:0% computation and data availability also looking<00:39:26.800> forward<00:39:27.280> to<00:39:27.900> you<00:39:28.900> know<00:39:28.930> interacting 00:39:29.700 --> 00:39:29.710 align:start position:0% looking forward to you know interacting 00:39:29.710 --> 00:39:32.550 align:start position:0% looking forward to you know interacting with<00:39:29.980> you<00:39:30.790> know<00:39:30.910> the<00:39:31.420> most<00:39:31.600> vibrant<00:39:31.870> pockets 00:39:32.550 --> 00:39:32.560 align:start position:0% with you know the most vibrant pockets 00:39:32.560 --> 00:39:34.770 align:start position:0% with you know the most vibrant pockets of<00:39:32.830> activity<00:39:33.280> it<00:39:33.490> could<00:39:33.640> be<00:39:33.790> polka<00:39:34.090> dots<00:39:34.420> it 00:39:34.770 --> 00:39:34.780 align:start position:0% of activity it could be polka dots it 00:39:34.780 --> 00:39:36.660 align:start position:0% of activity it could be polka dots it could<00:39:35.050> be<00:39:35.230> you<00:39:35.860> know<00:39:35.920> it<00:39:36.040> could<00:39:36.160> be<00:39:36.190> Bitcoin 00:39:36.660 --> 00:39:36.670 align:start position:0% could be you know it could be Bitcoin 00:39:36.670 --> 00:39:38.220 align:start position:0% could be you know it could be Bitcoin for<00:39:36.910> example<00:39:37.270> and<00:39:37.450> then<00:39:37.570> using<00:39:37.990> for<00:39:38.170> example 00:39:38.220 --> 00:39:38.230 align:start position:0% for example and then using for example 00:39:38.230 --> 00:39:41.610 align:start position:0% for example and then using for example cosmos<00:39:38.830> as<00:39:39.070> bridges<00:39:39.490> I'm<00:39:39.840> just<00:39:40.840> it's<00:39:41.410> very 00:39:41.610 --> 00:39:41.620 align:start position:0% cosmos as bridges I'm just it's very 00:39:41.620 --> 00:39:42.960 align:start position:0% cosmos as bridges I'm just it's very hard<00:39:41.800> to<00:39:41.890> predict<00:39:42.100> the<00:39:42.220> future<00:39:42.250> but<00:39:42.550> I'm<00:39:42.790> quite 00:39:42.960 --> 00:39:42.970 align:start position:0% hard to predict the future but I'm quite 00:39:42.970 --> 00:39:44.580 align:start position:0% hard to predict the future but I'm quite excited<00:39:43.090> we<00:39:43.690> go<00:39:43.810> I<00:39:43.960> look<00:39:44.050> forward<00:39:44.350> to<00:39:44.380> seeing 00:39:44.580 --> 00:39:44.590 align:start position:0% excited we go I look forward to seeing 00:39:44.590 --> 00:39:46.560 align:start position:0% excited we go I look forward to seeing where<00:39:44.770> the<00:39:44.860> vision<00:39:45.070> goes<00:39:45.370> maybe<00:39:45.790> OpenSocial 00:39:46.560 --> 00:39:46.570 align:start position:0% where the vision goes maybe OpenSocial 00:39:46.570 --> 00:39:48.420 align:start position:0% where the vision goes maybe OpenSocial is<00:39:46.720> not<00:39:46.900> dead<00:39:47.140> yet<00:39:47.170> thank<00:39:48.010> you<00:39:48.130> all<00:39:48.250> for 00:39:48.420 --> 00:39:48.430 align:start position:0% is not dead yet thank you all for 00:39:48.430 --> 00:39:50.130 align:start position:0% is not dead yet thank you all for participating<00:39:48.520> and<00:39:49.300> look<00:39:49.750> forward<00:39:49.930> to<00:39:50.020> the 00:39:50.130 --> 00:39:50.140 align:start position:0% participating and look forward to the 00:39:50.140 --> 00:39:51.440 align:start position:0% participating and look forward to the rest<00:39:50.230> of<00:39:50.380> the<00:39:50.470> day<00:39:50.560> thanks<00:39:50.890> so<00:39:50.980> much 00:39:51.440 --> 00:39:51.450 align:start position:0% rest of the day thanks so much 00:39:51.450 --> 00:40:02.430 align:start position:0% rest of the day thanks so much [Applause] 00:40:02.430 --> 00:40:02.440 align:start position:0% 00:40:02.440 --> 00:40:04.500 align:start position:0% you