WEBVTT Kind: captions Language: en 00:00:04.580 --> 00:00:06.849 align:start position:0% hey<00:00:05.150> everybody<00:00:05.450> my<00:00:06.080> name<00:00:06.230> is<00:00:06.260> Matt<00:00:06.500> slipper 00:00:06.849 --> 00:00:06.859 align:start position:0% hey everybody my name is Matt slipper 00:00:06.859 --> 00:00:08.950 align:start position:0% hey everybody my name is Matt slipper and<00:00:07.040> the<00:00:07.100> CTO<00:00:07.580> co-founder<00:00:08.360> of<00:00:08.389> a<00:00:08.660> company 00:00:08.950 --> 00:00:08.960 align:start position:0% and the CTO co-founder of a company 00:00:08.960 --> 00:00:10.990 align:start position:0% and the CTO co-founder of a company called<00:00:09.080> key<00:00:09.350> oaken<00:00:09.590> for<00:00:10.460> those<00:00:10.549> of<00:00:10.670> you<00:00:10.790> who 00:00:10.990 --> 00:00:11.000 align:start position:0% called key oaken for those of you who 00:00:11.000 --> 00:00:12.459 align:start position:0% called key oaken for those of you who don't<00:00:11.150> know<00:00:11.299> who<00:00:11.629> we<00:00:11.780> are<00:00:11.809> or<00:00:11.960> what<00:00:12.200> we<00:00:12.320> do 00:00:12.459 --> 00:00:12.469 align:start position:0% don't know who we are or what we do 00:00:12.469 --> 00:00:14.470 align:start position:0% don't know who we are or what we do we're<00:00:13.280> a<00:00:13.309> full-stack<00:00:13.760> crypto<00:00:14.209> native 00:00:14.470 --> 00:00:14.480 align:start position:0% we're a full-stack crypto native 00:00:14.480 --> 00:00:16.540 align:start position:0% we're a full-stack crypto native software<00:00:14.900> development<00:00:15.320> consultancy<00:00:15.799> we've 00:00:16.540 --> 00:00:16.550 align:start position:0% software development consultancy we've 00:00:16.550 --> 00:00:18.820 align:start position:0% software development consultancy we've worked<00:00:16.760> with<00:00:16.970> a<00:00:17.270> lot<00:00:17.720> of<00:00:17.900> notable<00:00:18.529> people<00:00:18.680> in 00:00:18.820 --> 00:00:18.830 align:start position:0% worked with a lot of notable people in 00:00:18.830 --> 00:00:20.740 align:start position:0% worked with a lot of notable people in the<00:00:18.949> space<00:00:19.160> both<00:00:19.460> on<00:00:19.760> aetherium<00:00:20.180> as<00:00:20.449> well<00:00:20.600> as<00:00:20.720> a 00:00:20.740 --> 00:00:20.750 align:start position:0% the space both on aetherium as well as a 00:00:20.750 --> 00:00:22.870 align:start position:0% the space both on aetherium as well as a variety<00:00:20.900> of<00:00:21.170> other<00:00:21.290> chains<00:00:21.650> and<00:00:22.010> when<00:00:22.640> I<00:00:22.670> say 00:00:22.870 --> 00:00:22.880 align:start position:0% variety of other chains and when I say 00:00:22.880 --> 00:00:24.160 align:start position:0% variety of other chains and when I say full-stack<00:00:23.270> I<00:00:23.450> mean<00:00:23.600> we<00:00:23.660> do<00:00:23.750> everything<00:00:23.810> from 00:00:24.160 --> 00:00:24.170 align:start position:0% full-stack I mean we do everything from 00:00:24.170 --> 00:00:25.900 align:start position:0% full-stack I mean we do everything from protocol<00:00:24.470> design<00:00:24.860> and<00:00:25.010> development<00:00:25.310> to<00:00:25.610> UI 00:00:25.900 --> 00:00:25.910 align:start position:0% protocol design and development to UI 00:00:25.910 --> 00:00:28.210 align:start position:0% protocol design and development to UI implementation<00:00:26.750> we've<00:00:27.590> also<00:00:27.740> worked<00:00:28.010> with 00:00:28.210 --> 00:00:28.220 align:start position:0% implementation we've also worked with 00:00:28.220 --> 00:00:31.390 align:start position:0% implementation we've also worked with Moloch<00:00:29.180> Dow<00:00:29.590> building<00:00:30.590> a<00:00:30.680> bunch<00:00:30.830> of<00:00:31.100> or 00:00:31.390 --> 00:00:31.400 align:start position:0% Moloch Dow building a bunch of or 00:00:31.400 --> 00:00:32.650 align:start position:0% Moloch Dow building a bunch of or writing<00:00:31.730> a<00:00:31.789> bunch<00:00:31.910> of<00:00:32.059> reports<00:00:32.419> that<00:00:32.480> are 00:00:32.650 --> 00:00:32.660 align:start position:0% writing a bunch of reports that are 00:00:32.660 --> 00:00:34.389 align:start position:0% writing a bunch of reports that are designed<00:00:32.960> to<00:00:33.050> accelerate<00:00:33.890> the<00:00:34.039> eath<00:00:34.160> to 00:00:34.389 --> 00:00:34.399 align:start position:0% designed to accelerate the eath to 00:00:34.399 --> 00:00:36.880 align:start position:0% designed to accelerate the eath to roadmap<00:00:34.789> as<00:00:34.969> well<00:00:35.539> as<00:00:35.660> with<00:00:35.840> Rick<00:00:36.230> Dudley<00:00:36.560> to 00:00:36.880 --> 00:00:36.890 align:start position:0% roadmap as well as with Rick Dudley to 00:00:36.890 --> 00:00:39.069 align:start position:0% roadmap as well as with Rick Dudley to help<00:00:37.100> accelerate<00:00:37.400> the<00:00:37.810> creation<00:00:38.810> and 00:00:39.069 --> 00:00:39.079 align:start position:0% help accelerate the creation and 00:00:39.079 --> 00:00:43.180 align:start position:0% help accelerate the creation and implementation<00:00:39.170> of<00:00:39.950> it<00:00:40.550> 1559<00:00:41.390> so<00:00:42.320> as<00:00:42.800> for<00:00:43.070> me 00:00:43.180 --> 00:00:43.190 align:start position:0% implementation of it 1559 so as for me 00:00:43.190 --> 00:00:45.220 align:start position:0% implementation of it 1559 so as for me usually<00:00:44.000> there's<00:00:44.420> supposed<00:00:44.720> to<00:00:44.780> be<00:00:44.840> a<00:00:44.930> slide 00:00:45.220 --> 00:00:45.230 align:start position:0% usually there's supposed to be a slide 00:00:45.230 --> 00:00:47.800 align:start position:0% usually there's supposed to be a slide with<00:00:45.440> my<00:00:45.560> face<00:00:45.770> on<00:00:45.980> it<00:00:46.010> and<00:00:46.250> an<00:00:47.030> enumeration<00:00:47.540> of 00:00:47.800 --> 00:00:47.810 align:start position:0% with my face on it and an enumeration of 00:00:47.810 --> 00:00:48.910 align:start position:0% with my face on it and an enumeration of all<00:00:47.930> of<00:00:48.050> my<00:00:48.140> incredible<00:00:48.590> career 00:00:48.910 --> 00:00:48.920 align:start position:0% all of my incredible career 00:00:48.920 --> 00:00:50.950 align:start position:0% all of my incredible career accomplishments<00:00:49.550> rather<00:00:50.540> than<00:00:50.809> do<00:00:50.930> that 00:00:50.950 --> 00:00:50.960 align:start position:0% accomplishments rather than do that 00:00:50.960 --> 00:00:52.450 align:start position:0% accomplishments rather than do that because<00:00:51.500> I<00:00:51.620> think<00:00:51.800> everyone<00:00:52.070> in<00:00:52.190> here<00:00:52.309> knows 00:00:52.450 --> 00:00:52.460 align:start position:0% because I think everyone in here knows 00:00:52.460 --> 00:00:54.760 align:start position:0% because I think everyone in here knows how<00:00:52.579> to<00:00:52.640> use<00:00:52.820> LinkedIn<00:00:53.079> I'm<00:00:54.079> gonna<00:00:54.290> tell<00:00:54.559> you<00:00:54.739> a 00:00:54.760 --> 00:00:54.770 align:start position:0% how to use LinkedIn I'm gonna tell you a 00:00:54.770 --> 00:00:57.100 align:start position:0% how to use LinkedIn I'm gonna tell you a quick<00:00:55.070> story<00:00:55.250> and<00:00:55.670> this<00:00:56.450> will<00:00:56.570> set<00:00:56.750> the<00:00:56.780> stage 00:00:57.100 --> 00:00:57.110 align:start position:0% quick story and this will set the stage 00:00:57.110 --> 00:00:59.260 align:start position:0% quick story and this will set the stage for<00:00:57.170> both<00:00:57.530> my<00:00:57.710> talk<00:00:57.950> and<00:00:58.250> also<00:00:58.579> how<00:00:58.790> I<00:00:58.820> think 00:00:59.260 --> 00:00:59.270 align:start position:0% for both my talk and also how I think 00:00:59.270 --> 00:01:00.970 align:start position:0% for both my talk and also how I think about<00:00:59.450> building<00:00:59.660> software<00:01:00.079> and<00:01:00.559> why 00:01:00.970 --> 00:01:00.980 align:start position:0% about building software and why 00:01:00.980 --> 00:01:03.639 align:start position:0% about building software and why mainstream<00:01:01.489> adoption<00:01:01.940> for<00:01:02.149> eat<00:01:02.270> matters<00:01:02.750> so 00:01:03.639 --> 00:01:03.649 align:start position:0% mainstream adoption for eat matters so 00:01:03.649 --> 00:01:06.039 align:start position:0% mainstream adoption for eat matters so when<00:01:03.800> I<00:01:03.860> was<00:01:03.980> 16<00:01:04.399> I<00:01:04.549> built<00:01:04.729> this<00:01:04.879> thing<00:01:05.119> it's 00:01:06.039 --> 00:01:06.049 align:start position:0% when I was 16 I built this thing it's 00:01:06.049 --> 00:01:07.899 align:start position:0% when I was 16 I built this thing it's called<00:01:06.170> transmute<00:01:06.770> and<00:01:07.430> it<00:01:07.490> was<00:01:07.579> a<00:01:07.610> little<00:01:07.790> web 00:01:07.899 --> 00:01:07.909 align:start position:0% called transmute and it was a little web 00:01:07.909 --> 00:01:09.819 align:start position:0% called transmute and it was a little web app<00:01:08.090> and<00:01:08.299> what<00:01:08.420> it<00:01:08.509> did<00:01:08.689> was<00:01:08.899> it<00:01:08.929> let<00:01:09.170> you<00:01:09.350> drag 00:01:09.819 --> 00:01:09.829 align:start position:0% app and what it did was it let you drag 00:01:09.829 --> 00:01:12.249 align:start position:0% app and what it did was it let you drag a<00:01:09.859> video<00:01:10.069> from<00:01:10.459> your<00:01:10.609> desktop<00:01:10.909> onto<00:01:11.479> your<00:01:12.109> web 00:01:12.249 --> 00:01:12.259 align:start position:0% a video from your desktop onto your web 00:01:12.259 --> 00:01:14.559 align:start position:0% a video from your desktop onto your web browser<00:01:12.499> and<00:01:12.889> drop<00:01:13.609> it<00:01:13.789> on<00:01:13.909> top<00:01:14.119> of<00:01:14.179> the<00:01:14.389> device 00:01:14.559 --> 00:01:14.569 align:start position:0% browser and drop it on top of the device 00:01:14.569 --> 00:01:16.419 align:start position:0% browser and drop it on top of the device that<00:01:15.020> you<00:01:15.289> wanted<00:01:15.560> the<00:01:15.649> video<00:01:15.770> to<00:01:15.920> be<00:01:16.159> playable 00:01:16.419 --> 00:01:16.429 align:start position:0% that you wanted the video to be playable 00:01:16.429 --> 00:01:17.949 align:start position:0% that you wanted the video to be playable on<00:01:16.670> so<00:01:17.119> you<00:01:17.209> could<00:01:17.329> take<00:01:17.420> a<00:01:17.479> video<00:01:17.749> on<00:01:17.869> your 00:01:17.949 --> 00:01:17.959 align:start position:0% on so you could take a video on your 00:01:17.959 --> 00:01:20.649 align:start position:0% on so you could take a video on your desktop<00:01:18.380> drop<00:01:18.649> it<00:01:18.770> on<00:01:18.859> the<00:01:18.950> iPod<00:01:19.310> BAM<00:01:19.670> you<00:01:20.450> can 00:01:20.649 --> 00:01:20.659 align:start position:0% desktop drop it on the iPod BAM you can 00:01:20.659 --> 00:01:23.080 align:start position:0% desktop drop it on the iPod BAM you can now<00:01:21.020> play<00:01:21.319> it<00:01:21.380> on<00:01:21.529> an<00:01:21.649> iPod<00:01:21.950> so<00:01:22.789> I<00:01:22.819> begged<00:01:23.060> my 00:01:23.080 --> 00:01:23.090 align:start position:0% now play it on an iPod so I begged my 00:01:23.090 --> 00:01:25.809 align:start position:0% now play it on an iPod so I begged my mom<00:01:23.299> to<00:01:23.619> pay<00:01:24.619> for<00:01:24.859> a<00:01:24.889> press<00:01:25.100> release<00:01:25.279> and<00:01:25.670> some 00:01:25.809 --> 00:01:25.819 align:start position:0% mom to pay for a press release and some 00:01:25.819 --> 00:01:27.099 align:start position:0% mom to pay for a press release and some Google<00:01:26.060> ads<00:01:26.240> and<00:01:26.539> I<00:01:26.569> managed<00:01:26.810> to<00:01:26.840> get<00:01:27.049> some 00:01:27.099 --> 00:01:27.109 align:start position:0% Google ads and I managed to get some 00:01:27.109 --> 00:01:28.690 align:start position:0% Google ads and I managed to get some users<00:01:27.590> I<00:01:27.770> had<00:01:27.889> a<00:01:27.920> couple<00:01:28.219> hundred<00:01:28.340> people 00:01:28.690 --> 00:01:28.700 align:start position:0% users I had a couple hundred people 00:01:28.700 --> 00:01:30.849 align:start position:0% users I had a couple hundred people using<00:01:29.029> it<00:01:29.119> for<00:01:29.270> a<00:01:29.329> while<00:01:29.450> and<00:01:29.749> there<00:01:30.619> was<00:01:30.740> this 00:01:30.849 --> 00:01:30.859 align:start position:0% using it for a while and there was this 00:01:30.859 --> 00:01:32.919 align:start position:0% using it for a while and there was this one<00:01:31.130> guy<00:01:31.369> who<00:01:31.429> went<00:01:31.909> through<00:01:32.149> and<00:01:32.420> he<00:01:32.509> uploaded 00:01:32.919 --> 00:01:32.929 align:start position:0% one guy who went through and he uploaded 00:01:32.929 --> 00:01:35.379 align:start position:0% one guy who went through and he uploaded something<00:01:33.229> like<00:01:33.499> 350<00:01:34.310> or<00:01:34.429> so<00:01:34.459> videos<00:01:35.029> and<00:01:35.329> they 00:01:35.379 --> 00:01:35.389 align:start position:0% something like 350 or so videos and they 00:01:35.389 --> 00:01:37.120 align:start position:0% something like 350 or so videos and they were<00:01:35.479> of<00:01:35.599> him<00:01:35.779> flying<00:01:36.139> model<00:01:36.499> airplanes<00:01:36.619> in 00:01:37.120 --> 00:01:37.130 align:start position:0% were of him flying model airplanes in 00:01:37.130 --> 00:01:39.879 align:start position:0% were of him flying model airplanes in Los<00:01:37.249> Angeles<00:01:37.520> and<00:01:37.969> that<00:01:38.959> was<00:01:39.560> really<00:01:39.770> really 00:01:39.879 --> 00:01:39.889 align:start position:0% Los Angeles and that was really really 00:01:39.889 --> 00:01:42.789 align:start position:0% Los Angeles and that was really really cool<00:01:40.399> it<00:01:41.209> was<00:01:41.270> really<00:01:41.539> really<00:01:41.689> cool<00:01:41.990> because 00:01:42.789 --> 00:01:42.799 align:start position:0% cool it was really really cool because 00:01:42.799 --> 00:01:45.639 align:start position:0% cool it was really really cool because here's<00:01:43.039> this<00:01:43.189> guy<00:01:43.459> he's<00:01:44.179> in<00:01:44.209> his<00:01:44.450> sixties<00:01:44.959> he 00:01:45.639 --> 00:01:45.649 align:start position:0% here's this guy he's in his sixties he 00:01:45.649 --> 00:01:48.489 align:start position:0% here's this guy he's in his sixties he flies<00:01:46.159> model<00:01:46.670> airplanes<00:01:47.090> for<00:01:47.450> fun<00:01:47.659> so<00:01:48.139> he 00:01:48.489 --> 00:01:48.499 align:start position:0% flies model airplanes for fun so he 00:01:48.499 --> 00:01:51.039 align:start position:0% flies model airplanes for fun so he doesn't<00:01:48.859> he's<00:01:49.009> clearly<00:01:49.249> retired<00:01:49.749> he<00:01:50.749> doesn't 00:01:51.039 --> 00:01:51.049 align:start position:0% doesn't he's clearly retired he doesn't 00:01:51.049 --> 00:01:53.139 align:start position:0% doesn't he's clearly retired he doesn't care<00:01:51.229> about<00:01:51.259> my<00:01:51.859> technology<00:01:52.279> he<00:01:52.700> doesn't<00:01:52.999> care 00:01:53.139 --> 00:01:53.149 align:start position:0% care about my technology he doesn't care 00:01:53.149 --> 00:01:55.449 align:start position:0% care about my technology he doesn't care whether<00:01:53.270> I<00:01:53.389> use<00:01:53.479> ffmpeg<00:01:54.139> or<00:01:54.529> live<00:01:54.679> a<00:01:54.799> V<00:01:55.039> or<00:01:55.069> like 00:01:55.449 --> 00:01:55.459 align:start position:0% whether I use ffmpeg or live a V or like 00:01:55.459 --> 00:01:57.639 align:start position:0% whether I use ffmpeg or live a V or like what<00:01:55.669> the<00:01:55.819> container<00:01:56.299> protocol<00:01:56.899> that<00:01:57.380> it<00:01:57.529> is 00:01:57.639 --> 00:01:57.649 align:start position:0% what the container protocol that it is 00:01:57.649 --> 00:01:59.139 align:start position:0% what the container protocol that it is that<00:01:57.829> I'm<00:01:57.919> using<00:01:58.099> he<00:01:58.429> just<00:01:58.609> cared<00:01:58.819> that<00:01:58.939> I<00:01:58.999> was 00:01:59.139 --> 00:01:59.149 align:start position:0% that I'm using he just cared that I was 00:01:59.149 --> 00:02:01.870 align:start position:0% that I'm using he just cared that I was able<00:01:59.270> to<00:01:59.419> solve<00:01:59.689> his<00:01:59.929> problem<00:02:00.590> and<00:02:00.859> he's<00:02:01.729> an 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care about 00:02:08.959 --> 00:02:11.440 align:start position:0% about your protocol doesn't care about your<00:02:09.200> technology<00:02:09.590> but<00:02:10.369> wants<00:02:10.700> to<00:02:10.729> solve<00:02:11.120> a 00:02:11.440 --> 00:02:11.450 align:start position:0% your technology but wants to solve a 00:02:11.450 --> 00:02:14.920 align:start position:0% your technology but wants to solve a problem<00:02:11.780> using<00:02:12.530> it<00:02:12.800> and<00:02:13.430> that<00:02:13.700> brings<00:02:13.910> us<00:02:14.120> to 00:02:14.920 --> 00:02:14.930 align:start position:0% problem using it and that brings us to 00:02:14.930 --> 00:02:17.560 align:start position:0% problem using it and that brings us to today's<00:02:15.170> topic<00:02:15.400> so<00:02:16.400> how<00:02:16.490> do<00:02:16.550> we<00:02:16.640> build<00:02:16.820> apps 00:02:17.560 --> 00:02:17.570 align:start position:0% today's topic so how do we build apps 00:02:17.570 --> 00:02:18.280 align:start position:0% today's topic so how do we build apps that<00:02:17.780> are<00:02:18.020> ready 00:02:18.280 --> 00:02:18.290 align:start position:0% that are ready 00:02:18.290 --> 00:02:20.110 align:start position:0% that are ready for<00:02:18.560> mainstream<00:02:18.709> users<00:02:19.310> right<00:02:19.579> here<00:02:19.879> right 00:02:20.110 --> 00:02:20.120 align:start position:0% for mainstream users right here right 00:02:20.120 --> 00:02:22.270 align:start position:0% for mainstream users right here right now<00:02:20.299> without<00:02:20.569> waiting<00:02:21.110> for<00:02:21.439> additional 00:02:22.270 --> 00:02:22.280 align:start position:0% now without waiting for additional 00:02:22.280 --> 00:02:23.800 align:start position:0% now without waiting for additional protocols<00:02:22.760> or<00:02:23.000> new<00:02:23.090> research<00:02:23.480> to<00:02:23.689> be 00:02:23.800 --> 00:02:23.810 align:start position:0% protocols or new research to be 00:02:23.810 --> 00:02:25.959 align:start position:0% protocols or new research to be developed<00:02:24.230> so<00:02:24.439> to<00:02:24.980> get<00:02:25.129> really<00:02:25.370> specific<00:02:25.549> and 00:02:25.959 --> 00:02:25.969 align:start position:0% developed so to get really specific and 00:02:25.969 --> 00:02:27.819 align:start position:0% developed so to get really specific and reiterate<00:02:26.480> what<00:02:26.659> I<00:02:26.689> mean<00:02:26.959> by<00:02:27.140> mainstream<00:02:27.379> user 00:02:27.819 --> 00:02:27.829 align:start position:0% reiterate what I mean by mainstream user 00:02:27.829 --> 00:02:29.140 align:start position:0% reiterate what I mean by mainstream user I'm<00:02:28.069> talking<00:02:28.430> about<00:02:28.489> people<00:02:28.760> who<00:02:29.030> use 00:02:29.140 --> 00:02:29.150 align:start position:0% I'm talking about people who use 00:02:29.150 --> 00:02:30.610 align:start position:0% I'm talking about people who use applications<00:02:29.810> for<00:02:30.019> the<00:02:30.079> benefits<00:02:30.469> they 00:02:30.610 --> 00:02:30.620 align:start position:0% applications for the benefits they 00:02:30.620 --> 00:02:32.500 align:start position:0% applications for the benefits they provide<00:02:30.650> rather<00:02:31.519> than<00:02:31.700> the<00:02:31.819> technology<00:02:32.359> that 00:02:32.500 --> 00:02:32.510 align:start position:0% provide rather than the technology that 00:02:32.510 --> 00:02:34.660 align:start position:0% provide rather than the technology that powers<00:02:32.689> them<00:02:33.049> this<00:02:33.920> includes<00:02:34.310> things<00:02:34.400> like 00:02:34.660 --> 00:02:34.670 align:start position:0% powers them this includes things like 00:02:34.670 --> 00:02:37.929 align:start position:0% powers them this includes things like decentralisation<00:02:35.620> so<00:02:36.620> a<00:02:36.650> performer<00:02:37.489> on<00:02:37.519> Spang 00:02:37.929 --> 00:02:37.939 align:start position:0% decentralisation so a performer on Spang 00:02:37.939 --> 00:02:39.910 align:start position:0% decentralisation so a performer on Spang chain<00:02:38.180> doesn't<00:02:38.750> use<00:02:39.019> the<00:02:39.170> platform<00:02:39.590> because 00:02:39.910 --> 00:02:39.920 align:start position:0% chain doesn't use the platform because 00:02:39.920 --> 00:02:41.860 align:start position:0% chain doesn't use the platform because she<00:02:40.069> thinks<00:02:40.220> crypto<00:02:40.640> school<00:02:40.909> she<00:02:41.480> uses<00:02:41.750> it 00:02:41.860 --> 00:02:41.870 align:start position:0% she thinks crypto school she uses it 00:02:41.870 --> 00:02:43.509 align:start position:0% she thinks crypto school she uses it because<00:02:42.170> she's<00:02:42.379> able<00:02:42.590> to<00:02:42.739> custody<00:02:43.189> her<00:02:43.400> own 00:02:43.509 --> 00:02:43.519 align:start position:0% because she's able to custody her own 00:02:43.519 --> 00:02:45.250 align:start position:0% because she's able to custody her own funds<00:02:43.879> and<00:02:44.209> the<00:02:44.299> financial<00:02:44.720> system<00:02:45.019> can't 00:02:45.250 --> 00:02:45.260 align:start position:0% funds and the financial system can't 00:02:45.260 --> 00:02:46.809 align:start position:0% funds and the financial system can't come<00:02:45.439> in<00:02:45.590> decide<00:02:45.950> they<00:02:46.099> don't<00:02:46.189> like<00:02:46.310> her<00:02:46.579> job 00:02:46.809 --> 00:02:46.819 align:start position:0% come in decide they don't like her job 00:02:46.819 --> 00:02:48.699 align:start position:0% come in decide they don't like her job and<00:02:47.090> all<00:02:47.269> of<00:02:47.299> a<00:02:47.450> sudden<00:02:47.480> delete<00:02:48.049> her<00:02:48.230> access<00:02:48.680> to 00:02:48.699 --> 00:02:48.709 align:start position:0% and all of a sudden delete her access to 00:02:48.709 --> 00:02:50.920 align:start position:0% and all of a sudden delete her access to the<00:02:48.889> financial<00:02:49.370> system<00:02:49.569> she<00:02:50.569> doesn't<00:02:50.840> because 00:02:50.920 --> 00:02:50.930 align:start position:0% the financial system she doesn't because 00:02:50.930 --> 00:02:52.569 align:start position:0% the financial system she doesn't because there's<00:02:51.230> no<00:02:51.319> chargebacks<00:02:51.650> on<00:02:52.010> crypto<00:02:52.340> and<00:02:52.489> it 00:02:52.569 --> 00:02:52.579 align:start position:0% there's no chargebacks on crypto and it 00:02:52.579 --> 00:02:54.879 align:start position:0% there's no chargebacks on crypto and it means<00:02:52.760> that<00:02:52.909> rather<00:02:53.239> than<00:02:53.420> charging<00:02:53.750> a<00:02:54.019> 20% 00:02:54.879 --> 00:02:54.889 align:start position:0% means that rather than charging a 20% 00:02:54.889 --> 00:02:56.379 align:start position:0% means that rather than charging a 20% fee<00:02:55.069> per<00:02:55.310> transaction<00:02:55.670> they're<00:02:55.970> able<00:02:56.060> to<00:02:56.209> get 00:02:56.379 --> 00:02:56.389 align:start position:0% fee per transaction they're able to get 00:02:56.389 --> 00:02:58.240 align:start position:0% fee per transaction they're able to get five<00:02:56.720> and<00:02:57.500> that<00:02:57.560> can<00:02:57.709> mean<00:02:57.859> the<00:02:57.889> difference 00:02:58.240 --> 00:02:58.250 align:start position:0% five and that can mean the difference 00:02:58.250 --> 00:03:00.460 align:start position:0% five and that can mean the difference between<00:02:58.310> someone<00:02:58.909> paying<00:02:59.090> rent<00:02:59.389> or<00:03:00.079> someone 00:03:00.460 --> 00:03:00.470 align:start position:0% between someone paying rent or someone 00:03:00.470 --> 00:03:01.839 align:start position:0% between someone paying rent or someone not<00:03:00.650> being<00:03:00.889> able<00:03:00.980> to<00:03:01.129> pay<00:03:01.340> rent 00:03:01.839 --> 00:03:01.849 align:start position:0% not being able to pay rent 00:03:01.849 --> 00:03:03.460 align:start position:0% not being able to pay rent the<00:03:02.180> point<00:03:02.389> is<00:03:02.540> these<00:03:02.720> are<00:03:02.840> people<00:03:03.169> that<00:03:03.200> are 00:03:03.460 --> 00:03:03.470 align:start position:0% the point is these are people that are 00:03:03.470 --> 00:03:06.009 align:start position:0% the point is these are people that are being<00:03:03.739> enabled<00:03:04.159> by<00:03:04.519> the<00:03:04.579> technology<00:03:05.060> and<00:03:05.540> in 00:03:06.009 --> 00:03:06.019 align:start position:0% being enabled by the technology and in 00:03:06.019 --> 00:03:08.349 align:start position:0% being enabled by the technology and in the<00:03:06.109> past<00:03:06.349> historically<00:03:07.340> crypto<00:03:07.819> has<00:03:07.939> focused 00:03:08.349 --> 00:03:08.359 align:start position:0% the past historically crypto has focused 00:03:08.359 --> 00:03:09.940 align:start position:0% the past historically crypto has focused on<00:03:08.510> the<00:03:08.599> technology<00:03:09.169> rather<00:03:09.379> than<00:03:09.530> what<00:03:09.829> the 00:03:09.940 --> 00:03:09.950 align:start position:0% on the technology rather than what the 00:03:09.950 --> 00:03:12.640 align:start position:0% on the technology rather than what the people<00:03:10.340> are<00:03:10.549> able<00:03:10.669> to<00:03:10.790> do<00:03:11.030> with<00:03:11.209> it<00:03:11.419> I<00:03:11.659> think<00:03:12.590> a 00:03:12.640 --> 00:03:12.650 align:start position:0% people are able to do with it I think a 00:03:12.650 --> 00:03:17.379 align:start position:0% people are able to do with it I think a great<00:03:12.829> example<00:03:13.099> is<00:03:14.290> bits<00:03:15.290> Square<00:03:15.769> so<00:03:16.430> does 00:03:17.379 --> 00:03:17.389 align:start position:0% great example is bits Square so does 00:03:17.389 --> 00:03:19.179 align:start position:0% great example is bits Square so does anyone<00:03:17.510> in<00:03:17.659> the<00:03:17.720> audience<00:03:17.840> know<00:03:18.230> what<00:03:18.560> bits 00:03:19.179 --> 00:03:19.189 align:start position:0% anyone in the audience know what bits 00:03:19.189 --> 00:03:23.589 align:start position:0% anyone in the audience know what bits Square<00:03:19.579> is<00:03:20.769> okay<00:03:21.769> absolutely<00:03:22.010> nobody<00:03:22.639> except 00:03:23.589 --> 00:03:23.599 align:start position:0% Square is okay absolutely nobody except 00:03:23.599 --> 00:03:26.379 align:start position:0% Square is okay absolutely nobody except Jackie<00:03:24.310> awesome<00:03:25.310> so<00:03:25.459> bit<00:03:25.699> Square<00:03:25.970> is<00:03:26.150> sort<00:03:26.329> of 00:03:26.379 --> 00:03:26.389 align:start position:0% Jackie awesome so bit Square is sort of 00:03:26.389 --> 00:03:27.580 align:start position:0% Jackie awesome so bit Square is sort of the<00:03:26.479> granddaddy<00:03:26.959> of<00:03:27.079> decentralized 00:03:27.580 --> 00:03:27.590 align:start position:0% the granddaddy of decentralized 00:03:27.590 --> 00:03:31.750 align:start position:0% the granddaddy of decentralized exchanges<00:03:28.400> it<00:03:28.909> launched<00:03:29.329> in<00:03:29.449> May<00:03:29.709> 2016<00:03:30.760> the 00:03:31.750 --> 00:03:31.760 align:start position:0% exchanges it launched in May 2016 the 00:03:31.760 --> 00:03:33.460 align:start position:0% exchanges it launched in May 2016 the cool<00:03:32.000> thing<00:03:32.269> about<00:03:32.299> bit<00:03:32.750> Square<00:03:33.079> is<00:03:33.229> that<00:03:33.349> as 00:03:33.460 --> 00:03:33.470 align:start position:0% cool thing about bit Square is that as 00:03:33.470 --> 00:03:35.259 align:start position:0% cool thing about bit Square is that as far<00:03:33.650> as<00:03:33.680> the<00:03:33.889> centralization<00:03:34.340> goes<00:03:34.909> it<00:03:35.120> was<00:03:35.239> a 00:03:35.259 --> 00:03:35.269 align:start position:0% far as the centralization goes it was a 00:03:35.269 --> 00:03:36.969 align:start position:0% far as the centralization goes it was a showcase<00:03:35.629> of<00:03:35.900> all<00:03:36.169> of<00:03:36.260> the<00:03:36.349> things<00:03:36.590> that<00:03:36.739> we 00:03:36.969 --> 00:03:36.979 align:start position:0% showcase of all of the things that we 00:03:36.979 --> 00:03:39.069 align:start position:0% showcase of all of the things that we consider<00:03:37.400> now<00:03:37.639> to<00:03:37.699> be<00:03:38.060> sort<00:03:38.299> of<00:03:38.329> the<00:03:38.479> forefront 00:03:39.069 --> 00:03:39.079 align:start position:0% consider now to be sort of the forefront 00:03:39.079 --> 00:03:41.890 align:start position:0% consider now to be sort of the forefront of<00:03:39.199> decentralization<00:03:39.949> of<00:03:40.220> thought<00:03:40.489> it<00:03:41.180> uses<00:03:41.629> a 00:03:41.890 --> 00:03:41.900 align:start position:0% of decentralization of thought it uses a 00:03:41.900 --> 00:03:44.409 align:start position:0% of decentralization of thought it uses a big<00:03:42.199> Java<00:03:42.829> app<00:03:43.069> to<00:03:43.699> talk<00:03:43.909> to<00:03:44.090> a<00:03:44.120> peer-to-peer 00:03:44.409 --> 00:03:44.419 align:start position:0% big Java app to talk to a peer-to-peer 00:03:44.419 --> 00:03:46.599 align:start position:0% big Java app to talk to a peer-to-peer network<00:03:44.650> that<00:03:45.650> peer-to-peer<00:03:45.889> network<00:03:46.400> is 00:03:46.599 --> 00:03:46.609 align:start position:0% network that peer-to-peer network is 00:03:46.609 --> 00:03:48.759 align:start position:0% network that peer-to-peer network is only<00:03:46.819> available<00:03:47.060> over<00:03:47.629> tor<00:03:47.900> so<00:03:48.290> you<00:03:48.349> have<00:03:48.620> to 00:03:48.759 --> 00:03:48.769 align:start position:0% only available over tor so you have to 00:03:48.769 --> 00:03:50.259 align:start position:0% only available over tor so you have to be<00:03:48.889> connected<00:03:49.099> to<00:03:49.310> tor<00:03:49.549> to<00:03:49.729> get<00:03:49.849> the<00:03:49.970> order 00:03:50.259 --> 00:03:50.269 align:start position:0% be connected to tor to get the order 00:03:50.269 --> 00:03:51.580 align:start position:0% be connected to tor to get the order book<00:03:50.449> and<00:03:50.659> get<00:03:50.750> the<00:03:50.780> orders<00:03:51.199> and<00:03:51.379> all<00:03:51.440> the 00:03:51.580 --> 00:03:51.590 align:start position:0% book and get the orders and all the 00:03:51.590 --> 00:03:53.110 align:start position:0% book and get the orders and all the other<00:03:51.739> things<00:03:52.129> that<00:03:52.310> make<00:03:52.459> it<00:03:52.549> a<00:03:52.729> centralized 00:03:53.110 --> 00:03:53.120 align:start position:0% other things that make it a centralized 00:03:53.120 --> 00:03:56.199 align:start position:0% other things that make it a centralized exchange<00:03:53.569> in<00:03:53.690> exchange<00:03:54.280> it<00:03:55.280> uses<00:03:55.639> fiat<00:03:56.000> and 00:03:56.199 --> 00:03:56.209 align:start position:0% exchange in exchange it uses fiat and 00:03:56.209 --> 00:03:58.809 align:start position:0% exchange in exchange it uses fiat and crypto<00:03:56.930> if<00:03:57.470> it's<00:03:57.620> a<00:03:57.709> Fiat<00:03:57.889> to<00:03:58.099> crypto<00:03:58.400> exchange 00:03:58.809 --> 00:03:58.819 align:start position:0% crypto if it's a Fiat to crypto exchange 00:03:58.819 --> 00:04:00.969 align:start position:0% crypto if it's a Fiat to crypto exchange so<00:03:59.780> how<00:03:59.870> do<00:03:59.930> you<00:04:00.079> do<00:04:00.169> that<00:04:00.290> Trust<00:04:00.620> lessly 00:04:00.969 --> 00:04:00.979 align:start position:0% so how do you do that Trust lessly 00:04:00.979 --> 00:04:02.409 align:start position:0% so how do you do that Trust lessly when<00:04:01.280> people<00:04:01.549> have<00:04:01.669> the<00:04:01.760> ability<00:04:02.090> to<00:04:02.120> cheat 00:04:02.409 --> 00:04:02.419 align:start position:0% when people have the ability to cheat 00:04:02.419 --> 00:04:04.509 align:start position:0% when people have the ability to cheat you<00:04:02.540> in<00:04:02.659> the<00:04:02.750> fiat<00:04:02.989> world<00:04:03.199> well<00:04:03.409> it<00:04:04.310> had<00:04:04.489> a 00:04:04.509 --> 00:04:04.519 align:start position:0% you in the fiat world well it had a 00:04:04.519 --> 00:04:07.390 align:start position:0% you in the fiat world well it had a doubt<00:04:04.790> you<00:04:05.659> could<00:04:05.810> stake<00:04:06.109> bsq<00:04:06.709> tokens<00:04:07.220> in 00:04:07.390 --> 00:04:07.400 align:start position:0% doubt you could stake bsq tokens in 00:04:07.400 --> 00:04:08.979 align:start position:0% doubt you could stake bsq tokens in order<00:04:07.549> to<00:04:07.669> become<00:04:07.760> an<00:04:07.970> arbitrator<00:04:08.569> in<00:04:08.810> order 00:04:08.979 --> 00:04:08.989 align:start position:0% order to become an arbitrator in order 00:04:08.989 --> 00:04:10.990 align:start position:0% order to become an arbitrator in order to<00:04:09.139> and<00:04:09.319> and<00:04:09.739> then<00:04:09.829> arbitrate<00:04:10.430> any<00:04:10.609> failed 00:04:10.990 --> 00:04:11.000 align:start position:0% to and and then arbitrate any failed 00:04:11.000 --> 00:04:14.619 align:start position:0% to and and then arbitrate any failed transactions<00:04:11.689> that<00:04:11.810> occur<00:04:12.139> on<00:04:12.349> bit<00:04:12.949> square<00:04:13.629> so 00:04:14.619 --> 00:04:14.629 align:start position:0% transactions that occur on bit square so 00:04:14.629 --> 00:04:15.879 align:start position:0% transactions that occur on bit square so they've<00:04:14.900> been<00:04:14.959> around<00:04:15.019> for<00:04:15.349> a<00:04:15.379> while<00:04:15.470> they 00:04:15.879 --> 00:04:15.889 align:start position:0% they've been around for a while they 00:04:15.889 --> 00:04:18.969 align:start position:0% they've been around for a while they renamed<00:04:16.190> to<00:04:16.340> bisque<00:04:16.570> like<00:04:17.570> the<00:04:17.720> soup<00:04:17.989> but 00:04:18.969 --> 00:04:18.979 align:start position:0% renamed to bisque like the soup but 00:04:18.979 --> 00:04:21.009 align:start position:0% renamed to bisque like the soup but there's<00:04:19.159> only<00:04:19.340> one<00:04:19.639> problem<00:04:20.389> with<00:04:20.570> that<00:04:20.780> and 00:04:21.009 --> 00:04:21.019 align:start position:0% there's only one problem with that and 00:04:21.019 --> 00:04:22.839 align:start position:0% there's only one problem with that and I'm<00:04:21.139> sure<00:04:21.380> you<00:04:21.889> can<00:04:22.009> kind<00:04:22.250> of<00:04:22.310> guess<00:04:22.520> what<00:04:22.729> that 00:04:22.839 --> 00:04:22.849 align:start position:0% I'm sure you can kind of guess what that 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because<00:04:30.680> they're<00:04:30.860> stupid<00:04:31.159> but<00:04:31.370> it's 00:04:31.600 --> 00:04:31.610 align:start position:0% or because they're stupid but it's 00:04:31.610 --> 00:04:32.060 align:start position:0% or because they're stupid but it's because 00:04:32.060 --> 00:04:32.070 align:start position:0% because 00:04:32.070 --> 00:04:33.320 align:start position:0% because complicated<00:04:32.790> and<00:04:32.910> it<00:04:33.000> makes<00:04:33.150> them<00:04:33.300> feel 00:04:33.320 --> 00:04:33.330 align:start position:0% complicated and it makes them feel 00:04:33.330 --> 00:04:36.470 align:start position:0% complicated and it makes them feel stupid<00:04:34.010> they<00:04:35.010> all<00:04:35.130> used<00:04:35.490> centralized 00:04:36.470 --> 00:04:36.480 align:start position:0% stupid they all used centralized 00:04:36.480 --> 00:04:39.290 align:start position:0% stupid they all used centralized exchanges<00:04:36.930> coinbase<00:04:37.830> kraken<00:04:38.760> whatever<00:04:39.030> and 00:04:39.290 --> 00:04:39.300 align:start position:0% exchanges coinbase kraken whatever and 00:04:39.300 --> 00:04:41.930 align:start position:0% exchanges coinbase kraken whatever and if<00:04:39.690> I<00:04:39.780> were<00:04:39.930> to<00:04:40.080> put<00:04:40.620> on<00:04:40.800> a<00:04:40.860> number<00:04:41.400> line<00:04:41.430> here 00:04:41.930 --> 00:04:41.940 align:start position:0% if I were to put on a number line here 00:04:41.940 --> 00:04:44.480 align:start position:0% if I were to put on a number line here where<00:04:42.540> bisque<00:04:42.960> and<00:04:43.140> coinbase<00:04:43.440> fall<00:04:43.950> as<00:04:44.190> far<00:04:44.220> as 00:04:44.480 --> 00:04:44.490 align:start position:0% where bisque and coinbase fall as far as 00:04:44.490 --> 00:04:46.880 align:start position:0% where bisque and coinbase fall as far as decentralisation<00:04:45.090> and<00:04:45.630> users<00:04:45.960> go<00:04:46.200> it<00:04:46.740> would 00:04:46.880 --> 00:04:46.890 align:start position:0% decentralisation and users go it would 00:04:46.890 --> 00:04:47.930 align:start position:0% decentralisation and users go it would look<00:04:47.010> something<00:04:47.190> like<00:04:47.400> this 00:04:47.930 --> 00:04:47.940 align:start position:0% look something like this 00:04:47.940 --> 00:04:49.790 align:start position:0% look something like this you've<00:04:48.300> got<00:04:48.450> bisque<00:04:48.720> which<00:04:49.140> is<00:04:49.350> decentralized 00:04:49.790 --> 00:04:49.800 align:start position:0% you've got bisque which is decentralized 00:04:49.800 --> 00:04:52.400 align:start position:0% you've got bisque which is decentralized out<00:04:50.340> the<00:04:50.490> was<00:04:50.670> Oh<00:04:50.910> in<00:04:51.570> fact<00:04:51.780> the<00:04:51.900> founders<00:04:52.290> were 00:04:52.400 --> 00:04:52.410 align:start position:0% out the was Oh in fact the founders were 00:04:52.410 --> 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which<00:04:59.490> asks<00:05:00.300> for<00:05:00.450> your<00:05:00.570> passport 00:05:01.160 --> 00:05:01.170 align:start position:0% coinbase which asks for your passport 00:05:01.170 --> 00:05:02.600 align:start position:0% coinbase which asks for your passport and<00:05:01.320> what<00:05:01.440> you<00:05:01.530> did<00:05:01.710> last<00:05:01.920> night<00:05:02.190> to<00:05:02.370> let<00:05:02.490> you 00:05:02.600 --> 00:05:02.610 align:start position:0% and what you did last night to let you 00:05:02.610 --> 00:05:05.600 align:start position:0% and what you did last night to let you trade<00:05:02.880> but<00:05:03.720> it<00:05:03.840> has<00:05:03.990> a<00:05:04.020> lot<00:05:04.290> of<00:05:04.320> users<00:05:04.620> I've 00:05:05.600 --> 00:05:05.610 align:start position:0% trade but it has a lot of users I've 00:05:05.610 --> 00:05:07.070 align:start position:0% trade but it has a lot of users I've deliberately<00:05:05.940> chosen<00:05:06.360> some<00:05:06.750> somewhat 00:05:07.070 --> 00:05:07.080 align:start position:0% deliberately chosen some somewhat 00:05:07.080 --> 00:05:08.570 align:start position:0% deliberately chosen some somewhat polarizing<00:05:07.680> examples<00:05:08.160> here<00:05:08.310> in<00:05:08.400> order<00:05:08.520> to 00:05:08.570 --> 00:05:08.580 align:start position:0% polarizing examples here in order to 00:05:08.580 --> 00:05:10.640 align:start position:0% polarizing examples here in order to illustrate<00:05:08.760> a<00:05:09.060> wider<00:05:09.300> point<00:05:09.570> which<00:05:10.290> is<00:05:10.440> that 00:05:10.640 --> 00:05:10.650 align:start position:0% illustrate a wider point which is that 00:05:10.650 --> 00:05:13.610 align:start position:0% illustrate a wider point which is that if<00:05:10.860> you<00:05:11.310> pick<00:05:11.550> any<00:05:11.700> individual<00:05:12.570> dap<00:05:12.840> or<00:05:13.200> thing 00:05:13.610 --> 00:05:13.620 align:start position:0% if you pick any individual dap or thing 00:05:13.620 --> 00:05:15.470 align:start position:0% if you pick any individual dap or thing that<00:05:13.800> we're<00:05:13.920> building<00:05:14.040> on<00:05:14.340> crypto<00:05:14.760> generally 00:05:15.470 --> 00:05:15.480 align:start position:0% that we're building on crypto generally 00:05:15.480 --> 00:05:17.540 align:start position:0% that we're building on crypto generally speaking<00:05:15.780> it's<00:05:16.080> going<00:05:16.140> to<00:05:16.440> occupy<00:05:16.800> one<00:05:17.280> of<00:05:17.310> the 00:05:17.540 --> 00:05:17.550 align:start position:0% speaking it's going to occupy one of the 00:05:17.550 --> 00:05:20.870 align:start position:0% speaking it's going to occupy one of the poles<00:05:17.850> of<00:05:18.270> this<00:05:18.540> spectrum<00:05:19.640> so<00:05:20.640> how<00:05:20.760> do<00:05:20.820> we 00:05:20.870 --> 00:05:20.880 align:start position:0% poles of this spectrum so how do we 00:05:20.880 --> 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think the first step is to actually<00:05:25.680> understand<00:05:26.340> what<00:05:26.550> attributes<00:05:27.180> of 00:05:27.350 --> 00:05:27.360 align:start position:0% actually understand what attributes of 00:05:27.360 --> 00:05:29.330 align:start position:0% actually understand what attributes of decentralization<00:05:28.050> and<00:05:28.410> convenience<00:05:29.130> is 00:05:29.330 --> 00:05:29.340 align:start position:0% decentralization and convenience is 00:05:29.340 --> 00:05:32.090 align:start position:0% decentralization and convenience is afforded<00:05:29.910> by<00:05:29.940> centralized<00:05:30.690> platforms<00:05:31.320> users 00:05:32.090 --> 00:05:32.100 align:start position:0% afforded by centralized platforms users 00:05:32.100 --> 00:05:34.250 align:start position:0% afforded by centralized platforms users want<00:05:32.460> and<00:05:32.760> what<00:05:33.270> those<00:05:33.420> things<00:05:33.600> are 00:05:34.250 --> 00:05:34.260 align:start position:0% want and what those things are 00:05:34.260 --> 00:05:36.710 align:start position:0% want and what those things are so<00:05:34.740> for<00:05:35.070> decentralized<00:05:35.370> platforms<00:05:36.120> that's 00:05:36.710 --> 00:05:36.720 align:start position:0% so for decentralized platforms that's 00:05:36.720 --> 00:05:38.900 align:start position:0% so for decentralized platforms that's usually<00:05:37.080> things<00:05:37.320> like<00:05:37.530> this<00:05:37.910> self 00:05:38.900 --> 00:05:38.910 align:start position:0% usually things like this self 00:05:38.910 --> 00:05:40.670 align:start position:0% usually things like this self sovereignty<00:05:39.420> I'm<00:05:39.720> the<00:05:39.990> only<00:05:40.140> one<00:05:40.350> that<00:05:40.530> can 00:05:40.670 --> 00:05:40.680 align:start position:0% sovereignty I'm the only one that can 00:05:40.680 --> 00:05:42.350 align:start position:0% sovereignty I'm the only one that can spend<00:05:40.920> my<00:05:41.040> funds<00:05:41.280> no<00:05:41.580> one<00:05:41.700> can<00:05:41.820> take<00:05:42.000> them<00:05:42.150> away 00:05:42.350 --> 00:05:42.360 align:start position:0% spend my funds no one can take them away 00:05:42.360 --> 00:05:45.080 align:start position:0% spend my funds no one can take them away from<00:05:42.570> me<00:05:43.100> transparency<00:05:44.100> and<00:05:44.220> auditability<00:05:44.640> if 00:05:45.080 --> 00:05:45.090 align:start position:0% from me transparency and auditability if 00:05:45.090 --> 00:05:47.750 align:start position:0% from me transparency and auditability if the<00:05:45.660> operator<00:05:46.170> or<00:05:46.500> a<00:05:46.710> counterparty<00:05:47.400> or<00:05:47.430> me 00:05:47.750 --> 00:05:47.760 align:start position:0% the operator or a counterparty or me 00:05:47.760 --> 00:05:49.340 align:start position:0% the operator or a counterparty or me decides<00:05:48.240> to<00:05:48.420> go<00:05:48.540> and<00:05:48.690> do<00:05:48.810> something<00:05:49.170> bad 00:05:49.340 --> 00:05:49.350 align:start position:0% decides to go and do something bad 00:05:49.350 --> 00:05:51.200 align:start position:0% decides to go and do something bad everybody's<00:05:49.980> gonna<00:05:50.130> find<00:05:50.490> out<00:05:50.670> about<00:05:50.820> it<00:05:51.000> and 00:05:51.200 --> 00:05:51.210 align:start position:0% everybody's gonna find out about it and 00:05:51.210 --> 00:05:52.190 align:start position:0% everybody's gonna find out about it and they're<00:05:51.300> gonna<00:05:51.390> yell<00:05:51.690> at<00:05:51.720> me 00:05:52.190 --> 00:05:52.200 align:start position:0% they're gonna yell at me 00:05:52.200 --> 00:05:55.520 align:start position:0% they're gonna yell at me and<00:05:52.860> finally<00:05:53.510> portability<00:05:54.510> I<00:05:54.750> can<00:05:55.140> take<00:05:55.350> my 00:05:55.520 --> 00:05:55.530 align:start position:0% and finally portability I can take my 00:05:55.530 --> 00:05:56.870 align:start position:0% and finally portability I can take my funds<00:05:55.800> and<00:05:56.040> leave<00:05:56.160> a<00:05:56.190> platform<00:05:56.760> that's 00:05:56.870 --> 00:05:56.880 align:start position:0% funds and leave a platform that's 00:05:56.880 --> 00:05:58.790 align:start position:0% funds and leave a platform that's starting<00:05:57.300> to<00:05:57.420> exploit<00:05:57.840> me<00:05:58.020> someone<00:05:58.650> in<00:05:58.710> a 00:05:58.790 --> 00:05:58.800 align:start position:0% starting to exploit me someone in a 00:05:58.800 --> 00:06:00.650 align:start position:0% starting to exploit me someone in a previous<00:05:59.130> talk<00:05:59.340> talked<00:05:59.730> about<00:06:00.030> it<00:06:00.300> was<00:06:00.420> a<00:06:00.450> wire 00:06:00.650 --> 00:06:00.660 align:start position:0% previous talk talked about it was a wire 00:06:00.660 --> 00:06:02.720 align:start position:0% previous talk talked about it was a wire line<00:06:00.930> guys<00:06:01.170> they<00:06:01.410> talked<00:06:01.650> about<00:06:01.770> how<00:06:02.040> once<00:06:02.580> the 00:06:02.720 --> 00:06:02.730 align:start position:0% line guys they talked about how once the 00:06:02.730 --> 00:06:04.580 align:start position:0% line guys they talked about how once the Gmail<00:06:03.090> platform<00:06:03.600> got<00:06:03.780> big<00:06:03.990> enough<00:06:04.230> it<00:06:04.470> was 00:06:04.580 --> 00:06:04.590 align:start position:0% Gmail platform got big enough it was 00:06:04.590 --> 00:06:07.010 align:start position:0% Gmail platform got big enough it was time<00:06:04.890> for<00:06:04.920> Google<00:06:05.820> to<00:06:05.940> start<00:06:06.180> exploiting<00:06:06.720> its 00:06:07.010 --> 00:06:07.020 align:start position:0% time for Google to start exploiting its 00:06:07.020 --> 00:06:09.200 align:start position:0% time for Google to start exploiting its own<00:06:07.170> users<00:06:07.590> with<00:06:08.190> the<00:06:08.310> portable<00:06:08.640> crypto 00:06:09.200 --> 00:06:09.210 align:start position:0% own users with the portable crypto 00:06:09.210 --> 00:06:11.030 align:start position:0% own users with the portable crypto platform<00:06:09.660> that<00:06:09.810> becomes<00:06:10.110> impossible<00:06:10.440> and 00:06:11.030 --> 00:06:11.040 align:start position:0% platform that becomes impossible and 00:06:11.040 --> 00:06:12.560 align:start position:0% platform that becomes impossible and these<00:06:11.400> are<00:06:11.520> things<00:06:11.670> that<00:06:11.790> are<00:06:11.970> only<00:06:12.120> possible 00:06:12.560 --> 00:06:12.570 align:start position:0% these are things that are only possible 00:06:12.570 --> 00:06:14.960 align:start position:0% these are things that are only possible using<00:06:13.230> a<00:06:13.320> robust<00:06:13.710> cryptocurrency<00:06:14.340> system 00:06:14.960 --> 00:06:14.970 align:start position:0% using a robust cryptocurrency system 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taps<00:06:25.050> on<00:06:25.320> a<00:06:25.350> daily<00:06:25.650> basis<00:06:26.010> is<00:06:26.190> they<00:06:26.640> don't 00:06:26.780 --> 00:06:26.790 align:start position:0% with taps on a daily basis is they don't 00:06:26.790 --> 00:06:29.240 align:start position:0% with taps on a daily basis is they don't have<00:06:26.940> these<00:06:27.510> things<00:06:27.780> and<00:06:28.020> they<00:06:28.380> really<00:06:28.920> really 00:06:29.240 --> 00:06:29.250 align:start position:0% have these things and they really really 00:06:29.250 --> 00:06:32.300 align:start position:0% have these things and they really really like<00:06:29.670> these<00:06:30.390> things<00:06:30.780> they<00:06:31.470> really<00:06:31.680> like<00:06:32.010> user 00:06:32.300 --> 00:06:32.310 align:start position:0% like these things they really like user 00:06:32.310 --> 00:06:34.310 align:start position:0% like these things they really like user name<00:06:32.520> password<00:06:32.670> authentication<00:06:33.210> the<00:06:33.930> ability 00:06:34.310 --> 00:06:34.320 align:start position:0% name password authentication the ability 00:06:34.320 --> 00:06:36.050 align:start position:0% name password authentication the ability to<00:06:34.440> get<00:06:34.590> all<00:06:34.620> their<00:06:34.830> funds<00:06:35.040> back<00:06:35.310> I<00:06:35.640> think<00:06:35.760> my 00:06:36.050 --> 00:06:36.060 align:start position:0% to get all their funds back I think my 00:06:36.060 --> 00:06:37.850 align:start position:0% to get all their funds back I think my ether<00:06:36.300> wallet<00:06:36.600> has<00:06:36.750> six<00:06:37.050> or<00:06:37.200> seven<00:06:37.500> warnings 00:06:37.850 --> 00:06:37.860 align:start position:0% ether wallet has six or seven warnings 00:06:37.860 --> 00:06:40.610 align:start position:0% ether wallet has six or seven warnings reminding<00:06:38.280> you<00:06:38.400> that<00:06:38.430> you<00:06:39.150> know<00:06:39.240> if<00:06:39.450> you<00:06:39.690> you 00:06:40.610 --> 00:06:40.620 align:start position:0% reminding you that you know if you you 00:06:40.620 --> 00:06:42.830 align:start position:0% reminding you that you know if you you know<00:06:40.740> lose<00:06:41.430> your<00:06:41.640> seed<00:06:41.850> words<00:06:42.060> all<00:06:42.419> your<00:06:42.600> funds 00:06:42.830 --> 00:06:42.840 align:start position:0% know lose your seed words all your funds 00:06:42.840 --> 00:06:45.860 align:start position:0% know lose your seed words all your funds are<00:06:42.990> gone<00:06:43.169> that<00:06:43.470> really<00:06:44.430> scares<00:06:44.790> people 00:06:45.860 --> 00:06:45.870 align:start position:0% are gone that really scares people 00:06:45.870 --> 00:06:46.970 align:start position:0% are gone that really scares people people<00:06:46.139> like<00:06:46.290> the<00:06:46.410> ability<00:06:46.560> to<00:06:46.740> go<00:06:46.830> to<00:06:46.860> a 00:06:46.970 --> 00:06:46.980 align:start position:0% people like the ability to go to a 00:06:46.980 --> 00:06:48.590 align:start position:0% people like the ability to go to a website<00:06:47.160> on<00:06:47.580> their<00:06:47.760> phone<00:06:47.970> or<00:06:48.000> on<00:06:48.270> their<00:06:48.419> if 00:06:48.590 --> 00:06:48.600 align:start position:0% website on their phone or on their if 00:06:48.600 --> 00:06:50.210 align:start position:0% website on their phone or on their if their<00:06:48.750> iPad<00:06:49.110> or<00:06:49.139> whatever<00:06:49.560> else<00:06:49.770> and<00:06:49.949> have<00:06:50.100> all 00:06:50.210 --> 00:06:50.220 align:start position:0% their iPad or whatever else and have all 00:06:50.220 --> 00:06:51.590 align:start position:0% their iPad or whatever else and have all their<00:06:50.370> data<00:06:50.610> right<00:06:50.820> there<00:06:50.850> and<00:06:51.180> the<00:06:51.270> ability 00:06:51.590 --> 00:06:51.600 align:start position:0% their data right there and the ability 00:06:51.600 --> 00:06:53.480 align:start position:0% their data right there and the ability to<00:06:51.630> log<00:06:51.900> right<00:06:52.139> in<00:06:52.169> they<00:06:53.070> also<00:06:53.220> want 00:06:53.480 --> 00:06:53.490 align:start position:0% to log right in they also want 00:06:53.490 --> 00:06:56.060 align:start position:0% to log right in they also want performance<00:06:54.060> has<00:06:54.960> to<00:06:54.990> be<00:06:55.169> fast<00:06:55.440> has<00:06:55.770> to<00:06:55.889> feel 00:06:56.060 --> 00:06:56.070 align:start position:0% performance has to be fast has to feel 00:06:56.070 --> 00:06:58.100 align:start position:0% performance has to be fast has to feel instant<00:06:56.520> in<00:06:56.610> order<00:06:56.790> for<00:06:56.880> it<00:06:56.940> to<00:06:57.000> be<00:06:57.120> fun<00:06:57.389> and 00:06:58.100 --> 00:06:58.110 align:start position:0% instant in order for it to be fun and 00:06:58.110 --> 00:07:00.980 align:start position:0% instant in order for it to be fun and finally<00:06:58.610> actions<00:06:59.610> shouldn't<00:07:00.150> have<00:07:00.360> to<00:07:00.870> be 00:07:00.980 --> 00:07:00.990 align:start position:0% finally actions shouldn't have to be 00:07:00.990 --> 00:07:03.350 align:start position:0% finally actions shouldn't have to be paid<00:07:01.290> for<00:07:01.320> and<00:07:01.770> so<00:07:02.669> these<00:07:03.000> are<00:07:03.060> really 00:07:03.350 --> 00:07:03.360 align:start position:0% paid for and so these are really 00:07:03.360 --> 00:07:06.350 align:start position:0% paid for and so these are really ingrained<00:07:04.350> user<00:07:04.940> expectations<00:07:05.940> if<00:07:06.210> your 00:07:06.350 --> 00:07:06.360 align:start position:0% ingrained user expectations if your 00:07:06.360 --> 00:07:07.850 align:start position:0% ingrained user expectations if your application<00:07:06.870> doesn't<00:07:07.229> have<00:07:07.380> those<00:07:07.560> things 00:07:07.850 --> 00:07:07.860 align:start position:0% application doesn't have those things 00:07:07.860 --> 00:07:09.530 align:start position:0% application doesn't have those things you're<00:07:08.340> not<00:07:08.460> going<00:07:08.520> to<00:07:08.790> be<00:07:08.910> able<00:07:09.060> to<00:07:09.210> get<00:07:09.360> over 00:07:09.530 --> 00:07:09.540 align:start position:0% you're not going to be able to get over 00:07:09.540 --> 00:07:11.840 align:start position:0% you're not going to be able to get over the<00:07:09.840> hump<00:07:10.169> and<00:07:10.440> users<00:07:11.190> won't<00:07:11.310> be<00:07:11.460> able<00:07:11.639> to<00:07:11.699> get 00:07:11.840 --> 00:07:11.850 align:start position:0% the hump and users won't be able to get 00:07:11.850 --> 00:07:13.310 align:start position:0% the hump and users won't be able to get over<00:07:12.030> that<00:07:12.180> hump<00:07:12.330> to<00:07:12.810> actually<00:07:13.110> start 00:07:13.310 --> 00:07:13.320 align:start position:0% over that hump to actually start 00:07:13.320 --> 00:07:15.110 align:start position:0% over that hump to actually start exploring<00:07:13.740> what<00:07:14.040> your<00:07:14.130> application<00:07:14.729> has<00:07:14.910> to 00:07:15.110 --> 00:07:15.120 align:start position:0% exploring what your application has to 00:07:15.120 --> 00:07:18.530 align:start position:0% exploring what your application has to offer<00:07:15.300> and<00:07:15.900> so<00:07:16.410> until<00:07:17.100> user<00:07:17.820> behaviors<00:07:18.270> change 00:07:18.530 --> 00:07:18.540 align:start position:0% offer and so until user behaviors change 00:07:18.540 --> 00:07:21.379 align:start position:0% offer and so until user behaviors change significantly<00:07:19.040> we<00:07:20.040> have<00:07:20.430> to<00:07:20.760> honor<00:07:21.090> these 00:07:21.379 --> 00:07:21.389 align:start position:0% significantly we have to honor these 00:07:21.389 --> 00:07:22.670 align:start position:0% significantly we have to honor these things<00:07:21.750> and<00:07:21.960> figure<00:07:22.169> out<00:07:22.200> where<00:07:22.530> the 00:07:22.670 --> 00:07:22.680 align:start position:0% things and figure out where the 00:07:22.680 --> 00:07:24.710 align:start position:0% things and figure out where the appropriate<00:07:23.250> trade-offs<00:07:23.790> are<00:07:24.120> in<00:07:24.389> order<00:07:24.540> to 00:07:24.710 --> 00:07:24.720 align:start position:0% appropriate trade-offs are in order to 00:07:24.720 --> 00:07:26.990 align:start position:0% appropriate trade-offs are in order to get<00:07:24.870> mainstream<00:07:25.410> adoption<00:07:25.800> to<00:07:25.889> happen<00:07:26.250> and<00:07:26.490> I 00:07:26.990 --> 00:07:27.000 align:start position:0% get mainstream adoption to happen and I 00:07:27.000 --> 00:07:28.610 align:start position:0% get mainstream adoption to happen and I way<00:07:27.150> I<00:07:27.180> say<00:07:27.630> this<00:07:27.810> happens<00:07:28.169> is<00:07:28.320> we<00:07:28.440> need<00:07:28.530> to 00:07:28.610 --> 00:07:28.620 align:start position:0% way I say this happens is we need to 00:07:28.620 --> 00:07:30.260 align:start position:0% way I say this happens is we need to support<00:07:28.919> multiple<00:07:29.130> access<00:07:29.760> points<00:07:29.790> from 00:07:30.260 --> 00:07:30.270 align:start position:0% support multiple access points from 00:07:30.270 --> 00:07:32.240 align:start position:0% support multiple access points from users<00:07:30.570> with<00:07:30.690> varying<00:07:31.050> needs<00:07:31.200> so<00:07:32.190> to 00:07:32.240 --> 00:07:32.250 align:start position:0% users with varying needs so to 00:07:32.250 --> 00:07:35.120 align:start position:0% users with varying needs so to illustrate<00:07:32.400> this<00:07:32.760> a<00:07:32.790> little<00:07:32.970> more<00:07:33.950> who's<00:07:34.950> seen 00:07:35.120 --> 00:07:35.130 align:start position:0% illustrate this a little more who's seen 00:07:35.130 --> 00:07:38.029 align:start position:0% illustrate this a little more who's seen this<00:07:35.310> screen<00:07:35.580> before<00:07:36.470> yeah<00:07:37.470> pretty<00:07:37.889> much 00:07:38.029 --> 00:07:38.039 align:start position:0% this screen before yeah pretty much 00:07:38.039 --> 00:07:39.860 align:start position:0% this screen before yeah pretty much everybody<00:07:38.400> so<00:07:38.729> I<00:07:38.760> pulled<00:07:39.210> this<00:07:39.360> one<00:07:39.539> from<00:07:39.720> the 00:07:39.860 --> 00:07:39.870 align:start position:0% everybody so I pulled this one from the 00:07:39.870 --> 00:07:41.570 align:start position:0% everybody so I pulled this one from the ef-s<00:07:40.139> website<00:07:40.590> for<00:07:40.860> the<00:07:40.919> auction<00:07:41.310> to<00:07:41.460> buy 00:07:41.570 --> 00:07:41.580 align:start position:0% ef-s website for the auction to buy 00:07:41.580 --> 00:07:45.050 align:start position:0% ef-s website for the auction to buy tickets<00:07:42.110> using<00:07:43.110> the<00:07:43.830> on<00:07:44.160> chain<00:07:44.610> auction 00:07:45.050 --> 00:07:45.060 align:start position:0% tickets using the on chain auction 00:07:45.060 --> 00:07:46.820 align:start position:0% tickets using the on chain auction contract<00:07:45.600> that<00:07:45.720> they<00:07:45.840> put<00:07:45.990> together<00:07:46.110> for<00:07:46.350> for 00:07:46.820 --> 00:07:46.830 align:start position:0% contract that they put together for for 00:07:46.830 --> 00:07:49.700 align:start position:0% contract that they put together for for DEFCON<00:07:47.130> and<00:07:47.570> it's<00:07:48.570> the<00:07:48.720> screen<00:07:49.050> that<00:07:49.350> says<00:07:49.560> you 00:07:49.700 --> 00:07:49.710 align:start position:0% DEFCON and it's the screen that says you 00:07:49.710 --> 00:07:51.080 align:start position:0% DEFCON and it's the screen that says you have<00:07:49.740> to<00:07:49.919> install<00:07:50.130> this<00:07:50.400> other<00:07:50.639> thing<00:07:50.910> before 00:07:51.080 --> 00:07:51.090 align:start position:0% have to install this other thing before 00:07:51.090 --> 00:07:53.960 align:start position:0% have to install this other thing before you're<00:07:51.419> allowed<00:07:51.510> to<00:07:51.780> use<00:07:51.810> my<00:07:52.139> thing<00:07:52.970> users 00:07:53.960 --> 00:07:53.970 align:start position:0% you're allowed to use my thing users 00:07:53.970 --> 00:07:56.000 align:start position:0% you're allowed to use my thing users really<00:07:54.690> don't<00:07:55.020> like<00:07:55.289> this<00:07:55.530> and<00:07:55.770> this<00:07:55.830> isn't 00:07:56.000 --> 00:07:56.010 align:start position:0% really don't like this and this isn't 00:07:56.010 --> 00:07:57.830 align:start position:0% really don't like this and this isn't dig<00:07:56.490> at<00:07:56.639> meta<00:07:56.850> mask<00:07:57.120> meta<00:07:57.450> mask<00:07:57.660> is 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from the 00:08:04.860 --> 00:08:06.430 align:start position:0% asked risk profile is different from the majority<00:08:05.010> of<00:08:05.370> decentralized<00:08:06.030> applications 00:08:06.430 --> 00:08:06.440 align:start position:0% majority of decentralized applications 00:08:06.440 --> 00:08:09.469 align:start position:0% majority of decentralized applications if<00:08:07.440> you're<00:08:07.680> a<00:08:07.710> crypto<00:08:08.070> kitties<00:08:08.400> your<00:08:09.120> users 00:08:09.469 --> 00:08:09.479 align:start position:0% if you're a crypto kitties your users 00:08:09.479 --> 00:08:11.300 align:start position:0% if you're a crypto kitties your users are<00:08:09.630> not<00:08:09.750> going<00:08:09.810> to<00:08:10.200> be<00:08:10.289> storing<00:08:10.740> arbitrary 00:08:11.300 --> 00:08:11.310 align:start position:0% are not going to be storing arbitrary 00:08:11.310 --> 00:08:13.100 align:start position:0% are not going to be storing arbitrary amounts<00:08:11.789> on<00:08:11.910> your<00:08:12.060> platform<00:08:12.270> they're<00:08:12.960> not 00:08:13.100 --> 00:08:13.110 align:start position:0% amounts on your platform they're not 00:08:13.110 --> 00:08:14.540 align:start position:0% amounts on your platform they're not going<00:08:13.320> to<00:08:13.410> be<00:08:13.500> using<00:08:13.889> your<00:08:13.950> platform<00:08:14.160> in 00:08:14.540 --> 00:08:14.550 align:start position:0% going to be using your platform in 00:08:14.550 --> 00:08:16.580 align:start position:0% going to be using your platform in arbitrary<00:08:14.970> ways<00:08:15.120> they're<00:08:16.050> not<00:08:16.200> using<00:08:16.380> your 00:08:16.580 --> 00:08:16.590 align:start position:0% arbitrary ways they're not using your 00:08:16.590 --> 00:08:17.930 align:start position:0% arbitrary ways they're not using your platform<00:08:16.770> for<00:08:17.190> free<00:08:17.460> and<00:08:17.610> fury 00:08:17.930 --> 00:08:17.940 align:start position:0% platform for free and fury 00:08:17.940 --> 00:08:21.589 align:start position:0% platform for free and fury either<00:08:18.120> and<00:08:18.450> so<00:08:18.870> as<00:08:19.110> a<00:08:19.139> result<00:08:19.620> if<00:08:19.950> you<00:08:20.849> have<00:08:21.570> a 00:08:21.589 --> 00:08:21.599 align:start position:0% either and so as a result if you have a 00:08:21.599 --> 00:08:24.620 align:start position:0% either and so as a result if you have a meta<00:08:22.169> mask<00:08:22.380> only<00:08:22.620> login<00:08:23.220> since<00:08:23.970> meta<00:08:24.180> mask<00:08:24.389> has 00:08:24.620 --> 00:08:24.630 align:start position:0% meta mask only login since meta mask has 00:08:24.630 --> 00:08:27.260 align:start position:0% meta mask only login since meta mask has to<00:08:24.810> be<00:08:24.930> maximally<00:08:25.770> paranoid<00:08:26.400> in<00:08:26.700> order<00:08:27.180> to 00:08:27.260 --> 00:08:27.270 align:start position:0% to be maximally paranoid in order to 00:08:27.270 --> 00:08:29.360 align:start position:0% to be maximally paranoid in order to serve<00:08:27.510> its<00:08:27.780> users<00:08:28.260> it's<00:08:28.830> a<00:08:28.860> little<00:08:29.099> bit<00:08:29.220> like 00:08:29.360 --> 00:08:29.370 align:start position:0% serve its users it's a little bit like 00:08:29.370 --> 00:08:31.040 align:start position:0% serve its users it's a little bit like you<00:08:29.820> want<00:08:29.970> to<00:08:30.060> play<00:08:30.180> with<00:08:30.330> your<00:08:30.479> crypto<00:08:30.780> kitty 00:08:31.040 --> 00:08:31.050 align:start position:0% you want to play with your crypto kitty 00:08:31.050 --> 00:08:34.010 align:start position:0% you want to play with your crypto kitty but<00:08:31.590> you<00:08:31.979> got<00:08:32.159> to<00:08:32.279> go<00:08:32.400> to<00:08:32.459> some<00:08:32.700> bank<00:08:33.029> vault<00:08:33.240> in 00:08:34.010 --> 00:08:34.020 align:start position:0% but you got to go to some bank vault in 00:08:34.020 --> 00:08:37.190 align:start position:0% but you got to go to some bank vault in the<00:08:34.169> Swiss<00:08:34.440> Alps<00:08:34.880> maybe<00:08:35.880> talk<00:08:36.150> to<00:08:36.360> this<00:08:36.930> guy 00:08:37.190 --> 00:08:37.200 align:start position:0% the Swiss Alps maybe talk to this guy 00:08:37.200 --> 00:08:41.209 align:start position:0% the Swiss Alps maybe talk to this guy with<00:08:37.860> a<00:08:37.890> gun<00:08:38.190> and<00:08:39.260> people<00:08:40.260> really<00:08:40.830> find<00:08:41.039> that 00:08:41.209 --> 00:08:41.219 align:start position:0% with a gun and people really find that 00:08:41.219 --> 00:08:43.279 align:start position:0% with a gun and people really find that off-putting<00:08:41.459> not<00:08:42.390> only<00:08:42.690> does<00:08:42.810> it<00:08:42.839> scare<00:08:43.110> them 00:08:43.279 --> 00:08:43.289 align:start position:0% off-putting not only does it scare them 00:08:43.289 --> 00:08:45.019 align:start position:0% off-putting not only does it scare them and<00:08:43.529> like<00:08:43.709> it<00:08:43.950> like<00:08:44.130> I<00:08:44.219> mentioned<00:08:44.580> before<00:08:44.610> but 00:08:45.019 --> 00:08:45.029 align:start position:0% and like it like I mentioned before but 00:08:45.029 --> 00:08:46.610 align:start position:0% and like it like I mentioned before but it<00:08:45.150> also<00:08:45.300> makes<00:08:45.660> them<00:08:45.810> feel<00:08:46.050> kind<00:08:46.320> of<00:08:46.410> stupid 00:08:46.610 --> 00:08:46.620 align:start position:0% it also makes them feel kind of stupid 00:08:46.620 --> 00:08:49.760 align:start position:0% it also makes them feel kind of stupid and<00:08:47.240> no<00:08:48.240> one<00:08:48.360> wants<00:08:48.570> to<00:08:48.660> feel<00:08:48.810> stupid<00:08:49.080> while 00:08:49.760 --> 00:08:49.770 align:start position:0% and no one wants to feel stupid while 00:08:49.770 --> 00:08:51.949 align:start position:0% and no one wants to feel stupid while they're<00:08:49.950> using<00:08:50.220> an<00:08:50.310> application<00:08:50.600> so<00:08:51.600> I've 00:08:51.949 --> 00:08:51.959 align:start position:0% they're using an application so I've 00:08:51.959 --> 00:08:55.010 align:start position:0% they're using an application so I've provided<00:08:52.560> enough<00:08:53.390> atmospherics<00:08:54.390> I<00:08:54.510> hope<00:08:54.750> for 00:08:55.010 --> 00:08:55.020 align:start position:0% provided enough atmospherics I hope for 00:08:55.020 --> 00:08:56.480 align:start position:0% provided enough atmospherics I hope for like<00:08:55.200> you<00:08:55.680> know<00:08:55.770> me<00:08:55.890> to<00:08:55.980> actually<00:08:56.280> start 00:08:56.480 --> 00:08:56.490 align:start position:0% like you know me to actually start 00:08:56.490 --> 00:08:58.130 align:start position:0% like you know me to actually start talking<00:08:56.820> about<00:08:56.940> various<00:08:57.390> solutions<00:08:57.870> to<00:08:58.050> these 00:08:58.130 --> 00:08:58.140 align:start position:0% talking about various solutions to these 00:08:58.140 --> 00:08:59.720 align:start position:0% talking about various solutions to these problems<00:08:58.200> and<00:08:58.680> the<00:08:58.770> first<00:08:58.800> is<00:08:59.160> well 00:08:59.720 --> 00:08:59.730 align:start position:0% problems and the first is well 00:08:59.730 --> 00:09:02.660 align:start position:0% problems and the first is well we<00:08:59.910> can<00:09:00.090> borrow<00:09:00.330> from<00:09:01.550> applications<00:09:02.550> that 00:09:02.660 --> 00:09:02.670 align:start position:0% we can borrow from applications that 00:09:02.670 --> 00:09:05.180 align:start position:0% we can borrow from applications that have<00:09:02.790> already<00:09:03.030> tread<00:09:03.690> this<00:09:04.170> path<00:09:04.230> before<00:09:05.010> and 00:09:05.180 --> 00:09:05.190 align:start position:0% have already tread this path before and 00:09:05.190 --> 00:09:07.010 align:start position:0% have already tread this path before and those<00:09:05.310> are<00:09:05.490> indent<00:09:05.880> encrypted<00:09:06.360> messengers<00:09:06.870> I 00:09:07.010 --> 00:09:07.020 align:start position:0% those are indent encrypted messengers I 00:09:07.020 --> 00:09:08.900 align:start position:0% those are indent encrypted messengers I worked<00:09:07.260> at<00:09:07.470> several<00:09:08.100> and<00:09:08.310> and<00:09:08.460> encrypted 00:09:08.900 --> 00:09:08.910 align:start position:0% worked at several and and encrypted 00:09:08.910 --> 00:09:10.820 align:start position:0% worked at several and and encrypted messenger<00:09:09.330> companies<00:09:09.750> and<00:09:10.050> they<00:09:10.380> generally 00:09:10.820 --> 00:09:10.830 align:start position:0% messenger companies and they generally 00:09:10.830 --> 00:09:12.740 align:start position:0% messenger companies and they generally do<00:09:10.980> something<00:09:11.340> like<00:09:11.490> this<00:09:11.790> you<00:09:12.330> have<00:09:12.450> a<00:09:12.480> user 00:09:12.740 --> 00:09:12.750 align:start position:0% do something like this you have a user 00:09:12.750 --> 00:09:14.510 align:start position:0% do something like this you have a user make<00:09:13.050> up<00:09:13.170> a<00:09:13.260> password<00:09:13.740> you<00:09:14.010> strengthen<00:09:14.370> that 00:09:14.510 --> 00:09:14.520 align:start position:0% make up a password you strengthen that 00:09:14.520 --> 00:09:16.460 align:start position:0% make up a password you strengthen that password<00:09:14.760> using<00:09:15.240> a<00:09:15.300> KDF<00:09:15.690> you<00:09:16.140> encrypt 00:09:16.460 --> 00:09:16.470 align:start position:0% password using a KDF you encrypt 00:09:16.470 --> 00:09:18.650 align:start position:0% password using a KDF you encrypt whatever<00:09:16.890> ciphertext<00:09:17.580> it<00:09:17.670> is<00:09:17.790> shove<00:09:18.480> it<00:09:18.600> on 00:09:18.650 --> 00:09:18.660 align:start position:0% whatever ciphertext it is shove it on 00:09:18.660 --> 00:09:20.300 align:start position:0% whatever ciphertext it is shove it on the<00:09:18.780> server<00:09:19.020> and<00:09:19.320> now<00:09:19.680> as<00:09:19.830> long<00:09:19.950> as<00:09:20.010> the<00:09:20.190> user 00:09:20.300 --> 00:09:20.310 align:start position:0% the server and now as long as the user 00:09:20.310 --> 00:09:21.980 align:start position:0% the server and now as long as the user has<00:09:20.610> that<00:09:20.820> password<00:09:21.030> they're<00:09:21.420> able<00:09:21.510> to<00:09:21.630> sync 00:09:21.980 --> 00:09:21.990 align:start position:0% has that password they're able to sync 00:09:21.990 --> 00:09:24.310 align:start position:0% has that password they're able to sync that<00:09:22.200> data<00:09:22.410> everywhere<00:09:22.950> they<00:09:23.100> decide<00:09:23.400> to<00:09:23.580> go 00:09:24.310 --> 00:09:24.320 align:start position:0% that data everywhere they decide to go 00:09:24.320 --> 00:09:27.260 align:start position:0% that data everywhere they decide to go but<00:09:25.320> this<00:09:25.470> doesn't<00:09:25.740> solve<00:09:26.060> password<00:09:27.060> recovery 00:09:27.260 --> 00:09:27.270 align:start position:0% but this doesn't solve password recovery 00:09:27.270 --> 00:09:30.710 align:start position:0% but this doesn't solve password recovery to<00:09:27.930> do<00:09:28.080> that<00:09:28.260> you<00:09:28.770> need<00:09:28.950> to<00:09:29.010> either<00:09:29.690> have<00:09:30.690> a 00:09:30.710 --> 00:09:30.720 align:start position:0% to do that you need to either have a 00:09:30.720 --> 00:09:32.330 align:start position:0% to do that you need to either have a version<00:09:30.960> of<00:09:31.110> the<00:09:31.200> key<00:09:31.320> yourself<00:09:31.710> that<00:09:32.190> you're 00:09:32.330 --> 00:09:32.340 align:start position:0% version of the key yourself that you're 00:09:32.340 --> 00:09:35.000 align:start position:0% version of the key yourself that you're able<00:09:32.460> to<00:09:32.640> decrypt<00:09:33.210> so<00:09:33.930> that<00:09:34.170> does<00:09:34.410> violate<00:09:34.860> the 00:09:35.000 --> 00:09:35.010 align:start position:0% able to decrypt so that does violate the 00:09:35.010 --> 00:09:36.500 align:start position:0% able to decrypt so that does violate the first<00:09:35.220> tenant<00:09:35.520> which<00:09:35.640> is<00:09:35.790> self<00:09:36.000> sovereignty 00:09:36.500 --> 00:09:36.510 align:start position:0% first tenant which is self sovereignty 00:09:36.510 --> 00:09:38.180 align:start position:0% first tenant which is self sovereignty because<00:09:36.780> technically<00:09:37.200> speaking<00:09:37.290> the 00:09:38.180 --> 00:09:38.190 align:start position:0% because technically speaking the 00:09:38.190 --> 00:09:39.710 align:start position:0% because technically speaking the operator<00:09:38.610> could<00:09:38.820> go<00:09:39.030> in<00:09:39.180> and<00:09:39.330> steal<00:09:39.480> all<00:09:39.690> your 00:09:39.710 --> 00:09:39.720 align:start position:0% operator could go in and steal all your 00:09:39.720 --> 00:09:41.900 align:start position:0% operator could go in and steal all your money<00:09:39.840> if<00:09:40.110> it<00:09:40.260> wanted<00:09:40.470> to<00:09:40.530> but<00:09:41.430> at<00:09:41.580> least<00:09:41.730> the 00:09:41.900 --> 00:09:41.910 align:start position:0% money if it wanted to but at least the 00:09:41.910 --> 00:09:44.840 align:start position:0% money if it wanted to but at least the users<00:09:42.180> going<00:09:42.390> to<00:09:42.540> be<00:09:42.660> able<00:09:42.870> to<00:09:43.050> recover<00:09:43.560> and<00:09:43.890> to 00:09:44.840 --> 00:09:44.850 align:start position:0% users going to be able to recover and to 00:09:44.850 --> 00:09:46.310 align:start position:0% users going to be able to recover and to be<00:09:44.970> honest<00:09:45.270> when<00:09:45.510> you<00:09:45.600> have<00:09:45.780> a<00:09:45.810> non-technical 00:09:46.310 --> 00:09:46.320 align:start position:0% be honest when you have a non-technical 00:09:46.320 --> 00:09:48.530 align:start position:0% be honest when you have a non-technical person<00:09:46.680> using<00:09:47.160> crypto<00:09:47.490> I<00:09:47.760> generally<00:09:48.390> trust 00:09:48.530 --> 00:09:48.540 align:start position:0% person using crypto I generally trust 00:09:48.540 --> 00:09:51.020 align:start position:0% person using crypto I generally trust the<00:09:48.720> operator<00:09:49.140> more<00:09:49.410> than<00:09:49.560> the<00:09:49.650> user<00:09:49.830> or<00:09:50.400> you 00:09:51.020 --> 00:09:51.030 align:start position:0% the operator more than the user or you 00:09:51.030 --> 00:09:53.300 align:start position:0% the operator more than the user or you can<00:09:51.180> use<00:09:51.300> something<00:09:51.540> like<00:09:51.740> fund<00:09:52.740> custody 00:09:53.300 --> 00:09:53.310 align:start position:0% can use something like fund custody 00:09:53.310 --> 00:09:55.760 align:start position:0% can use something like fund custody smart<00:09:53.610> contract<00:09:54.120> the<00:09:54.450> way<00:09:54.540> these<00:09:54.720> work<00:09:55.020> it's<00:09:55.500> a 00:09:55.760 --> 00:09:55.770 align:start position:0% smart contract the way these work it's a 00:09:55.770 --> 00:09:57.650 align:start position:0% smart contract the way these work it's a little<00:09:56.010> bit<00:09:56.100> like<00:09:56.220> a<00:09:56.250> gnosis<00:09:56.670> safe<00:09:56.910> where<00:09:57.420> user 00:09:57.650 --> 00:09:57.660 align:start position:0% little bit like a gnosis safe where user 00:09:57.660 --> 00:09:59.270 align:start position:0% little bit like a gnosis safe where user funds<00:09:57.960> are<00:09:58.110> actually<00:09:58.230> stored<00:09:58.860> in<00:09:58.920> a<00:09:59.040> smart 00:09:59.270 --> 00:09:59.280 align:start position:0% funds are actually stored in a smart 00:09:59.280 --> 00:10:01.370 align:start position:0% funds are actually stored in a smart contract<00:09:59.490> that<00:10:00.210> smart<00:10:00.540> contracts<00:10:01.080> then<00:10:01.230> has 00:10:01.370 --> 00:10:01.380 align:start position:0% contract that smart contracts then has 00:10:01.380 --> 00:10:03.110 align:start position:0% contract that smart contracts then has the<00:10:01.530> ability<00:10:01.860> to<00:10:01.890> delegate<00:10:02.460> ownership<00:10:02.970> of 00:10:03.110 --> 00:10:03.120 align:start position:0% the ability to delegate ownership of 00:10:03.120 --> 00:10:05.750 align:start position:0% the ability to delegate ownership of those<00:10:03.240> funds<00:10:03.540> to<00:10:03.780> a<00:10:03.810> separate<00:10:04.200> address<00:10:04.650> and<00:10:04.890> it 00:10:05.750 --> 00:10:05.760 align:start position:0% those funds to a separate address and it 00:10:05.760 --> 00:10:08.060 align:start position:0% those funds to a separate address and it enables<00:10:06.480> you<00:10:06.570> to<00:10:06.660> call<00:10:07.020> recover<00:10:07.410> with<00:10:07.800> a<00:10:07.830> new 00:10:08.060 --> 00:10:08.070 align:start position:0% enables you to call recover with a new 00:10:08.070 --> 00:10:10.040 align:start position:0% enables you to call recover with a new owner<00:10:08.250> that<00:10:08.970> initiates<00:10:09.390> a<00:10:09.480> challenge<00:10:09.840> timer 00:10:10.040 --> 00:10:10.050 align:start position:0% owner that initiates a challenge timer 00:10:10.050 --> 00:10:12.080 align:start position:0% owner that initiates a challenge timer when<00:10:10.260> called<00:10:10.530> the<00:10:10.890> user<00:10:11.130> gains<00:10:11.430> the<00:10:11.670> ability 00:10:12.080 --> 00:10:12.090 align:start position:0% when called the user gains the ability 00:10:12.090 --> 00:10:13.840 align:start position:0% when called the user gains the ability to<00:10:12.120> in<00:10:12.480> the<00:10:12.510> event<00:10:12.660> of<00:10:12.900> operator<00:10:13.320> malfeasance 00:10:13.840 --> 00:10:13.850 align:start position:0% to in the event of operator malfeasance 00:10:13.850 --> 00:10:16.250 align:start position:0% to in the event of operator malfeasance cancel<00:10:14.850> the<00:10:15.150> transfer<00:10:15.540> of<00:10:15.690> ownership<00:10:15.810> and 00:10:16.250 --> 00:10:16.260 align:start position:0% cancel the transfer of ownership and 00:10:16.260 --> 00:10:17.990 align:start position:0% cancel the transfer of ownership and eject<00:10:16.620> all<00:10:16.770> those<00:10:16.950> funds<00:10:17.190> from<00:10:17.400> the<00:10:17.520> contract 00:10:17.990 --> 00:10:18.000 align:start position:0% eject all those funds from the contract 00:10:18.000 --> 00:10:19.580 align:start position:0% eject all those funds from the contract so<00:10:18.330> even<00:10:18.570> though<00:10:18.660> the<00:10:18.780> operator<00:10:19.170> does<00:10:19.350> have<00:10:19.530> a 00:10:19.580 --> 00:10:19.590 align:start position:0% so even though the operator does have a 00:10:19.590 --> 00:10:22.040 align:start position:0% so even though the operator does have a window<00:10:19.920> of<00:10:20.070> time<00:10:20.250> in<00:10:20.310> which<00:10:20.580> it<00:10:20.820> can<00:10:21.210> try<00:10:21.480> to 00:10:22.040 --> 00:10:22.050 align:start position:0% window of time in which it can try to 00:10:22.050 --> 00:10:23.870 align:start position:0% window of time in which it can try to steal<00:10:22.290> your<00:10:22.320> funds<00:10:22.680> if<00:10:22.950> you're<00:10:23.400> watching<00:10:23.550> it 00:10:23.870 --> 00:10:23.880 align:start position:0% steal your funds if you're watching it 00:10:23.880 --> 00:10:27.290 align:start position:0% steal your funds if you're watching it it<00:10:24.450> can<00:10:25.250> but<00:10:26.250> we're<00:10:26.370> still<00:10:26.610> not<00:10:26.730> changing<00:10:27.120> user 00:10:27.290 --> 00:10:27.300 align:start position:0% it can but we're still not changing user 00:10:27.300 --> 00:10:28.550 align:start position:0% it can but we're still not changing user behaviors<00:10:27.750> with<00:10:27.930> these<00:10:28.050> things<00:10:28.290> we're 00:10:28.550 --> 00:10:28.560 align:start position:0% behaviors with these things we're 00:10:28.560 --> 00:10:30.250 align:start position:0% behaviors with these things we're accepting<00:10:29.010> them<00:10:29.160> so<00:10:29.340> we're<00:10:29.460> able<00:10:29.550> to<00:10:29.730> get 00:10:30.250 --> 00:10:30.260 align:start position:0% accepting them so we're able to get 00:10:30.260 --> 00:10:33.320 align:start position:0% accepting them so we're able to get short-term<00:10:31.260> user<00:10:31.680> value<00:10:32.070> and<00:10:32.520> user<00:10:32.970> adoption 00:10:33.320 --> 00:10:33.330 align:start position:0% short-term user value and user adoption 00:10:33.330 --> 00:10:35.720 align:start position:0% short-term user value and user adoption using<00:10:33.990> these<00:10:34.110> solutions<00:10:34.680> but<00:10:34.950> it's<00:10:35.400> not<00:10:35.580> what 00:10:35.720 --> 00:10:35.730 align:start position:0% using these solutions but it's not what 00:10:35.730 --> 00:10:37.250 align:start position:0% using these solutions but it's not what we<00:10:35.820> want<00:10:36.030> long<00:10:36.180> term<00:10:36.240> we<00:10:36.600> want<00:10:36.780> people<00:10:36.960> to<00:10:37.110> be 00:10:37.250 --> 00:10:37.260 align:start position:0% we want long term we want people to be 00:10:37.260 --> 00:10:39.140 align:start position:0% we want long term we want people to be able<00:10:37.440> to<00:10:37.830> change<00:10:38.310> their<00:10:38.490> behaviors<00:10:38.880> to<00:10:39.060> be 00:10:39.140 --> 00:10:39.150 align:start position:0% able to change their behaviors to be 00:10:39.150 --> 00:10:40.760 align:start position:0% able to change their behaviors to be more<00:10:39.330> congruent<00:10:39.870> with<00:10:39.990> what<00:10:40.050> crypto<00:10:40.470> is<00:10:40.530> going 00:10:40.760 --> 00:10:40.770 align:start position:0% more congruent with what crypto is going 00:10:40.770 --> 00:10:42.650 align:start position:0% more congruent with what crypto is going to<00:10:40.860> require<00:10:41.130> in<00:10:41.370> the<00:10:41.460> future<00:10:41.790> and<00:10:42.240> so<00:10:42.420> for<00:10:42.600> that 00:10:42.650 --> 00:10:42.660 align:start position:0% to require in the future and so for that 00:10:42.660 --> 00:10:43.790 align:start position:0% to require in the future and so for that you<00:10:42.840> can<00:10:42.990> use<00:10:43.080> something<00:10:43.290> like<00:10:43.410> wallet 00:10:43.790 --> 00:10:43.800 align:start position:0% you can use something like wallet 00:10:43.800 --> 00:10:45.260 align:start position:0% you can use something like wallet connect<00:10:44.070> so<00:10:44.580> for<00:10:44.760> those<00:10:44.850> of<00:10:44.970> you<00:10:45.060> who<00:10:45.180> are 00:10:45.260 --> 00:10:45.270 align:start position:0% connect so for those of you who are 00:10:45.270 --> 00:10:46.730 align:start position:0% connect so for those of you who are unfamiliar<00:10:45.630> with<00:10:45.720> wall<00:10:45.930> connect<00:10:46.290> Pedro<00:10:46.620> Gomez 00:10:46.730 --> 00:10:46.740 align:start position:0% unfamiliar with wall connect Pedro Gomez 00:10:46.740 --> 00:10:48.380 align:start position:0% unfamiliar with wall connect Pedro Gomez has<00:10:47.130> done<00:10:47.220> an<00:10:47.310> amazing<00:10:47.490> job<00:10:47.670> of<00:10:47.850> this<00:10:48.060> it's<00:10:48.270> a 00:10:48.380 --> 00:10:48.390 align:start position:0% has done an amazing job of this it's a 00:10:48.390 --> 00:10:50.060 align:start position:0% has done an amazing job of this it's a standard<00:10:48.870> that<00:10:49.020> allows<00:10:49.230> you<00:10:49.410> to<00:10:49.500> share<00:10:49.710> keys 00:10:50.060 --> 00:10:50.070 align:start position:0% standard that allows you to share keys 00:10:50.070 --> 00:10:52.430 align:start position:0% standard that allows you to share keys and<00:10:50.460> signature<00:10:51.300> data<00:10:51.510> between<00:10:51.990> various 00:10:52.430 --> 00:10:52.440 align:start position:0% and signature data between various 00:10:52.440 --> 00:10:54.440 align:start position:0% and signature data between various wallets<00:10:52.830> for<00:10:53.340> users<00:10:53.640> that<00:10:53.730> have<00:10:53.790> an<00:10:53.940> existing 00:10:54.440 --> 00:10:54.450 align:start position:0% wallets for users that have an existing 00:10:54.450 --> 00:10:56.390 align:start position:0% wallets for users that have an existing wallet<00:10:54.780> they<00:10:55.200> can<00:10:55.230> import<00:10:55.680> it<00:10:55.830> directly<00:10:55.920> into 00:10:56.390 --> 00:10:56.400 align:start position:0% wallet they can import it directly into 00:10:56.400 --> 00:10:58.310 align:start position:0% wallet they can import it directly into your<00:10:56.430> DAP<00:10:56.700> for<00:10:57.270> users<00:10:57.510> that<00:10:57.540> are<00:10:57.720> on<00:10:57.750> your<00:10:58.080> debt 00:10:58.310 --> 00:10:58.320 align:start position:0% your DAP for users that are on your debt 00:10:58.320 --> 00:11:00.620 align:start position:0% your DAP for users that are on your debt that<00:10:58.770> starts<00:10:59.460> storing<00:10:59.940> more<00:11:00.120> value<00:11:00.450> and 00:11:00.620 --> 00:11:00.630 align:start position:0% that starts storing more value and 00:11:00.630 --> 00:11:02.210 align:start position:0% that starts storing more value and becoming<00:11:01.020> more<00:11:01.140> accustomed<00:11:01.680> to<00:11:01.800> the<00:11:01.920> crypto 00:11:02.210 --> 00:11:02.220 align:start position:0% becoming more accustomed to the crypto 00:11:02.220 --> 00:11:04.520 align:start position:0% becoming more accustomed to the crypto space<00:11:02.490> and<00:11:02.730> wants<00:11:03.030> to<00:11:03.090> self<00:11:03.390> custody<00:11:03.840> they<00:11:04.350> can 00:11:04.520 --> 00:11:04.530 align:start position:0% space and wants to self custody they can 00:11:04.530 --> 00:11:06.200 align:start position:0% space and wants to self custody they can eject<00:11:04.920> and<00:11:05.190> that's<00:11:05.550> going<00:11:05.730> to<00:11:05.820> solve<00:11:06.030> the 00:11:06.200 --> 00:11:06.210 align:start position:0% eject and that's going to solve the 00:11:06.210 --> 00:11:08.540 align:start position:0% eject and that's going to solve the third<00:11:06.450> tenet<00:11:06.900> of<00:11:07.040> why<00:11:08.040> decentralisation 00:11:08.540 --> 00:11:08.550 align:start position:0% third tenet of why decentralisation 00:11:08.550 --> 00:11:11.180 align:start position:0% third tenet of why decentralisation matters<00:11:09.180> the<00:11:09.360> portability<00:11:09.810> bit<00:11:10.230> so<00:11:11.100> you 00:11:11.180 --> 00:11:11.190 align:start position:0% matters the portability bit so you 00:11:11.190 --> 00:11:12.350 align:start position:0% matters the portability bit so you should<00:11:11.340> check<00:11:11.460> out<00:11:11.610> wallet<00:11:11.910> Connect<00:11:12.150> if<00:11:12.270> you 00:11:12.350 --> 00:11:12.360 align:start position:0% should check out wallet Connect if you 00:11:12.360 --> 00:11:13.070 align:start position:0% should check out wallet Connect if you can 00:11:13.070 --> 00:11:13.080 align:start position:0% can 00:11:13.080 --> 00:11:14.150 align:start position:0% can because<00:11:13.230> it's<00:11:13.350> going<00:11:13.470> to<00:11:13.560> slowly<00:11:13.860> start 00:11:14.150 --> 00:11:14.160 align:start position:0% because it's going to slowly start 00:11:14.160 --> 00:11:18.140 align:start position:0% because it's going to slowly start changing<00:11:14.790> user<00:11:15.300> behavior<00:11:16.400> recapping<00:11:17.400> where 00:11:18.140 --> 00:11:18.150 align:start position:0% changing user behavior recapping where 00:11:18.150 --> 00:11:19.790 align:start position:0% changing user behavior recapping where do<00:11:18.240> we<00:11:18.330> fix<00:11:18.540> so<00:11:18.720> far<00:11:18.990> so<00:11:19.380> we've<00:11:19.620> done 00:11:19.790 --> 00:11:19.800 align:start position:0% do we fix so far so we've done 00:11:19.800 --> 00:11:21.380 align:start position:0% do we fix so far so we've done onboarding<00:11:20.340> we've<00:11:20.520> done<00:11:20.640> authentication<00:11:20.910> and 00:11:21.380 --> 00:11:21.390 align:start position:0% onboarding we've done authentication and 00:11:21.390 --> 00:11:23.690 align:start position:0% onboarding we've done authentication and sync<00:11:21.660> but<00:11:22.230> we<00:11:22.350> haven't<00:11:22.800> solved<00:11:23.160> performance 00:11:23.690 --> 00:11:23.700 align:start position:0% sync but we haven't solved performance 00:11:23.700 --> 00:11:27.490 align:start position:0% sync but we haven't solved performance and<00:11:23.970> we<00:11:24.600> haven't<00:11:24.960> solved<00:11:25.290> gas<00:11:25.670> so<00:11:26.670> to<00:11:27.210> do<00:11:27.330> that 00:11:27.490 --> 00:11:27.500 align:start position:0% and we haven't solved gas so to do that 00:11:27.500 --> 00:11:32.810 align:start position:0% and we haven't solved gas so to do that we<00:11:28.500> need<00:11:28.620> to<00:11:28.710> go<00:11:28.860> off<00:11:29.100> chain<00:11:30.980> this<00:11:31.980> is<00:11:32.340> the 00:11:32.810 --> 00:11:32.820 align:start position:0% we need to go off chain this is the 00:11:32.820 --> 00:11:34.370 align:start position:0% we need to go off chain this is the Gartner<00:11:33.150> hype<00:11:33.300> curve<00:11:33.570> you've<00:11:33.990> all<00:11:34.170> probably 00:11:34.370 --> 00:11:34.380 align:start position:0% Gartner hype curve you've all probably 00:11:34.380 --> 00:11:35.480 align:start position:0% Gartner hype curve you've all probably seen<00:11:34.830> it<00:11:34.950> before 00:11:35.480 --> 00:11:35.490 align:start position:0% seen it before 00:11:35.490 --> 00:11:37.520 align:start position:0% seen it before this<00:11:36.360> is<00:11:36.450> where<00:11:36.570> I<00:11:36.600> think<00:11:36.690> lots<00:11:37.110> of<00:11:37.230> different 00:11:37.520 --> 00:11:37.530 align:start position:0% this is where I think lots of different 00:11:37.530 --> 00:11:39.740 align:start position:0% this is where I think lots of different l2<00:11:37.890> Solutions<00:11:38.430> sit<00:11:38.730> on<00:11:38.940> the<00:11:39.360> Gartner<00:11:39.630> hype 00:11:39.740 --> 00:11:39.750 align:start position:0% l2 Solutions sit on the Gartner hype 00:11:39.750 --> 00:11:41.540 align:start position:0% l2 Solutions sit on the Gartner hype curve<00:11:40.050> this<00:11:40.560> isn't<00:11:40.860> to<00:11:40.920> dig<00:11:41.100> at<00:11:41.250> each<00:11:41.340> one<00:11:41.490> of 00:11:41.540 --> 00:11:41.550 align:start position:0% curve this isn't to dig at each one of 00:11:41.550 --> 00:11:43.250 align:start position:0% curve this isn't to dig at each one of these<00:11:41.730> solutions<00:11:41.880> it<00:11:42.300> just<00:11:42.480> means<00:11:42.720> that<00:11:42.990> of 00:11:43.250 --> 00:11:43.260 align:start position:0% these solutions it just means that of 00:11:43.260 --> 00:11:45.380 align:start position:0% these solutions it just means that of the<00:11:43.320> various<00:11:44.010> l2s<00:11:44.520> that<00:11:44.730> are<00:11:44.820> available<00:11:45.270> to 00:11:45.380 --> 00:11:45.390 align:start position:0% the various l2s that are available to 00:11:45.390 --> 00:11:47.210 align:start position:0% the various l2s that are available to the<00:11:45.480> world<00:11:45.600> right<00:11:45.960> now<00:11:46.230> state<00:11:46.740> channels<00:11:47.100> are 00:11:47.210 --> 00:11:47.220 align:start position:0% the world right now state channels are 00:11:47.220 --> 00:11:48.260 align:start position:0% the world right now state channels are the<00:11:47.280> ones<00:11:47.460> that<00:11:47.580> are<00:11:47.760> ready<00:11:47.910> for<00:11:48.000> production 00:11:48.260 --> 00:11:48.270 align:start position:0% the ones that are ready for production 00:11:48.270 --> 00:11:50.180 align:start position:0% the ones that are ready for production and<00:11:48.780> on<00:11:49.050> main<00:11:49.260> net<00:11:49.470> and<00:11:49.650> the<00:11:49.800> reason<00:11:50.070> you're 00:11:50.180 --> 00:11:50.190 align:start position:0% and on main net and the reason you're 00:11:50.190 --> 00:11:51.980 align:start position:0% and on main net and the reason you're not<00:11:50.220> hearing<00:11:50.580> about<00:11:50.880> them<00:11:51.090> and<00:11:51.300> are<00:11:51.690> instead 00:11:51.980 --> 00:11:51.990 align:start position:0% not hearing about them and are instead 00:11:51.990 --> 00:11:53.990 align:start position:0% not hearing about them and are instead seeing<00:11:52.350> people<00:11:52.680> on<00:11:52.800> Twitter<00:11:53.070> saying<00:11:53.460> that<00:11:53.640> l2 00:11:53.990 --> 00:11:54.000 align:start position:0% seeing people on Twitter saying that l2 00:11:54.000 --> 00:11:55.700 align:start position:0% seeing people on Twitter saying that l2 isn't<00:11:54.330> here<00:11:54.510> yet<00:11:54.630> what<00:11:54.840> the<00:11:54.930> hell<00:11:55.080> happened<00:11:55.530> is 00:11:55.700 --> 00:11:55.710 align:start position:0% isn't here yet what the hell happened is 00:11:55.710 --> 00:11:57.920 align:start position:0% isn't here yet what the hell happened is because<00:11:56.040> once<00:11:56.640> things<00:11:56.940> are<00:11:57.180> production<00:11:57.660> ready 00:11:57.920 --> 00:11:57.930 align:start position:0% because once things are production ready 00:11:57.930 --> 00:11:59.090 align:start position:0% because once things are production ready they<00:11:58.140> start<00:11:58.410> getting<00:11:58.590> boring 00:11:59.090 --> 00:11:59.100 align:start position:0% they start getting boring 00:11:59.100 --> 00:12:01.400 align:start position:0% they start getting boring and<00:11:59.280> I<00:11:59.670> think<00:11:59.730> boring<00:12:00.240> is<00:12:00.390> awesome<00:12:00.900> because<00:12:01.170> it 00:12:01.400 --> 00:12:01.410 align:start position:0% and I think boring is awesome because it 00:12:01.410 --> 00:12:04.190 align:start position:0% and I think boring is awesome because it means<00:12:01.560> you<00:12:01.740> can<00:12:01.920> use<00:12:01.950> them<00:12:02.310> for<00:12:02.550> real<00:12:02.730> value<00:12:03.200> so 00:12:04.190 --> 00:12:04.200 align:start position:0% means you can use them for real value so 00:12:04.200 --> 00:12:06.350 align:start position:0% means you can use them for real value so an<00:12:04.290> example<00:12:04.350> of<00:12:04.680> this<00:12:04.910> is<00:12:05.910> a<00:12:05.970> ticketing 00:12:06.350 --> 00:12:06.360 align:start position:0% an example of this is a ticketing 00:12:06.360 --> 00:12:07.820 align:start position:0% an example of this is a ticketing application<00:12:06.840> and<00:12:07.050> by<00:12:07.320> the<00:12:07.380> way<00:12:07.530> if<00:12:07.710> you're 00:12:07.820 --> 00:12:07.830 align:start position:0% application and by the way if you're 00:12:07.830 --> 00:12:09.890 align:start position:0% application and by the way if you're using<00:12:07.940> payments<00:12:08.940> you<00:12:09.060> can<00:12:09.090> just<00:12:09.330> take<00:12:09.510> off<00:12:09.720> the 00:12:09.890 --> 00:12:09.900 align:start position:0% using payments you can just take off the 00:12:09.900 --> 00:12:11.030 align:start position:0% using payments you can just take off the shelf<00:12:10.110> stuff<00:12:10.350> for<00:12:10.530> this<00:12:10.590> you<00:12:10.770> don't<00:12:10.800> have<00:12:10.950> to 00:12:11.030 --> 00:12:11.040 align:start position:0% shelf stuff for this you don't have to 00:12:11.040 --> 00:12:13.010 align:start position:0% shelf stuff for this you don't have to build<00:12:11.190> anything<00:12:11.310> special<00:12:11.910> you<00:12:12.600> can<00:12:12.780> use<00:12:12.900> the 00:12:13.010 --> 00:12:13.020 align:start position:0% build anything special you can use the 00:12:13.020 --> 00:12:14.900 align:start position:0% build anything special you can use the Die<00:12:13.170> card<00:12:13.470> but<00:12:14.010> I'm<00:12:14.100> talking<00:12:14.460> about<00:12:14.490> an<00:12:14.730> asset 00:12:14.900 --> 00:12:14.910 align:start position:0% Die card but I'm talking about an asset 00:12:14.910 --> 00:12:17.270 align:start position:0% Die card but I'm talking about an asset transfer<00:12:15.570> system<00:12:15.960> here<00:12:16.170> so<00:12:16.710> for<00:12:16.920> a<00:12:16.950> ticketing 00:12:17.270 --> 00:12:17.280 align:start position:0% transfer system here so for a ticketing 00:12:17.280 --> 00:12:19.340 align:start position:0% transfer system here so for a ticketing application<00:12:17.760> you<00:12:18.450> have<00:12:18.570> a<00:12:18.600> general<00:12:18.990> flow<00:12:19.170> that 00:12:19.340 --> 00:12:19.350 align:start position:0% application you have a general flow that 00:12:19.350 --> 00:12:22.310 align:start position:0% application you have a general flow that looks<00:12:19.500> something<00:12:19.710> like<00:12:19.830> this<00:12:20.180> so<00:12:21.200> you've<00:12:22.200> got 00:12:22.310 --> 00:12:22.320 align:start position:0% looks something like this so you've got 00:12:22.320 --> 00:12:24.830 align:start position:0% looks something like this so you've got a<00:12:22.350> user<00:12:22.560> he<00:12:23.250> goes<00:12:23.460> to<00:12:23.730> your<00:12:23.820> DAP<00:12:24.030> and<00:12:24.300> he<00:12:24.630> wants 00:12:24.830 --> 00:12:24.840 align:start position:0% a user he goes to your DAP and he wants 00:12:24.840 --> 00:12:26.810 align:start position:0% a user he goes to your DAP and he wants to<00:12:24.900> buy<00:12:25.050> a<00:12:25.080> ticket<00:12:25.350> for<00:12:25.500> something<00:12:25.830> your<00:12:26.670> dad 00:12:26.810 --> 00:12:26.820 align:start position:0% to buy a ticket for something your dad 00:12:26.820 --> 00:12:28.940 align:start position:0% to buy a ticket for something your dad mints<00:12:27.120> a<00:12:27.240> token<00:12:27.630> and<00:12:27.840> either<00:12:28.530> if<00:12:28.770> there's 00:12:28.940 --> 00:12:28.950 align:start position:0% mints a token and either if there's 00:12:28.950 --> 00:12:30.620 align:start position:0% mints a token and either if there's enough<00:12:29.160> collateral<00:12:29.430> deposits<00:12:30.210> it<00:12:30.300> directly 00:12:30.620 --> 00:12:30.630 align:start position:0% enough collateral deposits it directly 00:12:30.630 --> 00:12:32.390 align:start position:0% enough collateral deposits it directly into<00:12:30.840> a<00:12:30.990> channel<00:12:31.410> and<00:12:31.590> credits<00:12:32.070> to<00:12:32.160> users 00:12:32.390 --> 00:12:32.400 align:start position:0% into a channel and credits to users 00:12:32.400 --> 00:12:34.520 align:start position:0% into a channel and credits to users balance<00:12:32.790> or<00:12:32.970> makes<00:12:33.390> a<00:12:33.480> non<00:12:33.660> chain<00:12:33.960> transaction 00:12:34.520 --> 00:12:34.530 align:start position:0% balance or makes a non chain transaction 00:12:34.530 --> 00:12:35.870 align:start position:0% balance or makes a non chain transaction on<00:12:34.620> the<00:12:34.650> user's<00:12:34.980> behalf<00:12:35.070> in<00:12:35.460> order<00:12:35.550> to<00:12:35.730> make 00:12:35.870 --> 00:12:35.880 align:start position:0% on the user's behalf in order to make 00:12:35.880 --> 00:12:38.510 align:start position:0% on the user's behalf in order to make sure<00:12:35.910> that<00:12:36.270> that<00:12:36.420> token<00:12:36.810> exists<00:12:37.260> the<00:12:38.220> users 00:12:38.510 --> 00:12:38.520 align:start position:0% sure that that token exists the users 00:12:38.520 --> 00:12:40.310 align:start position:0% sure that that token exists the users made<00:12:38.670> know<00:12:38.910> on<00:12:39.240> chain<00:12:39.570> transactions<00:12:40.110> here 00:12:40.310 --> 00:12:40.320 align:start position:0% made know on chain transactions here 00:12:40.320 --> 00:12:41.810 align:start position:0% made know on chain transactions here they<00:12:40.470> haven't<00:12:40.740> paid<00:12:40.890> for<00:12:40.920> any<00:12:41.190> gas<00:12:41.430> if<00:12:41.700> the 00:12:41.810 --> 00:12:41.820 align:start position:0% they haven't paid for any gas if the 00:12:41.820 --> 00:12:43.610 align:start position:0% they haven't paid for any gas if the channel<00:12:42.150> is<00:12:42.300> adequately<00:12:42.810> collateralized 00:12:43.610 --> 00:12:43.620 align:start position:0% channel is adequately collateralized 00:12:43.620 --> 00:12:46.340 align:start position:0% channel is adequately collateralized they<00:12:44.340> get<00:12:44.580> that<00:12:44.790> token<00:12:45.180> immediately<00:12:45.720> and<00:12:45.990> now 00:12:46.340 --> 00:12:46.350 align:start position:0% they get that token immediately and now 00:12:46.350 --> 00:12:48.080 align:start position:0% they get that token immediately and now they<00:12:46.500> can<00:12:46.680> actually<00:12:46.710> start<00:12:47.190> doing<00:12:47.880> things 00:12:48.080 --> 00:12:48.090 align:start position:0% they can actually start doing things 00:12:48.090 --> 00:12:50.360 align:start position:0% they can actually start doing things with<00:12:48.510> it<00:12:48.740> just<00:12:49.740> like<00:12:49.890> they<00:12:50.040> would<00:12:50.190> on 00:12:50.360 --> 00:12:50.370 align:start position:0% with it just like they would on 00:12:50.370 --> 00:12:52.850 align:start position:0% with it just like they would on something<00:12:50.700> like<00:12:50.820> Ticketmaster<00:12:51.860> but 00:12:52.850 --> 00:12:52.860 align:start position:0% something like Ticketmaster but 00:12:52.860 --> 00:12:54.140 align:start position:0% something like Ticketmaster but something<00:12:53.070> that's<00:12:53.130> important<00:12:53.550> to<00:12:53.610> note<00:12:53.910> is 00:12:54.140 --> 00:12:54.150 align:start position:0% something that's important to note is 00:12:54.150 --> 00:12:57.200 align:start position:0% something that's important to note is after<00:12:54.840> that<00:12:54.990> little<00:12:55.170> dotted<00:12:55.920> line<00:12:56.250> on<00:12:56.490> the 00:12:57.200 --> 00:12:57.210 align:start position:0% after that little dotted line on the 00:12:57.210 --> 00:12:59.930 align:start position:0% after that little dotted line on the user<00:12:57.720> column<00:12:58.230> the<00:12:58.920> user<00:12:59.130> can<00:12:59.430> close<00:12:59.730> the 00:12:59.930 --> 00:12:59.940 align:start position:0% user column the user can close the 00:12:59.940 --> 00:13:02.360 align:start position:0% user column the user can close the channel<00:13:00.300> and<00:13:00.540> they<00:13:01.200> can<00:13:01.350> get<00:13:01.530> delivery<00:13:02.100> of 00:13:02.360 --> 00:13:02.370 align:start position:0% channel and they can get delivery of 00:13:02.370 --> 00:13:05.210 align:start position:0% channel and they can get delivery of that<00:13:02.910> token<00:13:03.410> this<00:13:04.410> is<00:13:04.530> something<00:13:04.800> that's<00:13:04.890> kind 00:13:05.210 --> 00:13:05.220 align:start position:0% that token this is something that's kind 00:13:05.220 --> 00:13:06.770 align:start position:0% that token this is something that's kind of<00:13:05.370> unique<00:13:05.700> to<00:13:05.910> aetherium<00:13:06.330> there's<00:13:06.630> been<00:13:06.750> a 00:13:06.770 --> 00:13:06.780 align:start position:0% of unique to aetherium there's been a 00:13:06.780 --> 00:13:08.480 align:start position:0% of unique to aetherium there's been a lot<00:13:06.960> of<00:13:06.990> talk<00:13:07.350> and<00:13:07.380> like<00:13:07.710> rumbling<00:13:08.190> about 00:13:08.480 --> 00:13:08.490 align:start position:0% lot of talk and like rumbling about 00:13:08.490 --> 00:13:11.660 align:start position:0% lot of talk and like rumbling about howie<00:13:08.640> this--<00:13:09.030> money<00:13:09.360> if<00:13:09.890> eath<00:13:10.890> is<00:13:11.130> money<00:13:11.370> then 00:13:11.660 --> 00:13:11.670 align:start position:0% howie this-- money if eath is money then 00:13:11.670 --> 00:13:15.440 align:start position:0% howie this-- money if eath is money then ERC<00:13:12.090> 20s<00:13:12.480> and<00:13:12.750> ER<00:13:12.990> c720<00:13:13.620> ones<00:13:13.980> are<00:13:14.430> it's<00:13:15.060> medium 00:13:15.440 --> 00:13:15.450 align:start position:0% ERC 20s and ER c720 ones are it's medium 00:13:15.450 --> 00:13:17.750 align:start position:0% ERC 20s and ER c720 ones are it's medium of<00:13:15.600> exchange<00:13:15.810> and<00:13:16.350> receiving<00:13:17.010> delivery<00:13:17.490> of 00:13:17.750 --> 00:13:17.760 align:start position:0% of exchange and receiving delivery of 00:13:17.760 --> 00:13:19.430 align:start position:0% of exchange and receiving delivery of that<00:13:17.940> token<00:13:18.360> means<00:13:18.600> that<00:13:18.870> it<00:13:18.960> sort<00:13:19.140> of<00:13:19.200> doesn't 00:13:19.430 --> 00:13:19.440 align:start position:0% that token means that it sort of doesn't 00:13:19.440 --> 00:13:21.920 align:start position:0% that token means that it sort of doesn't really<00:13:19.650> matter<00:13:20.100> how<00:13:20.340> complicated<00:13:20.730> or<00:13:21.270> even 00:13:21.920 --> 00:13:21.930 align:start position:0% really matter how complicated or even 00:13:21.930 --> 00:13:23.660 align:start position:0% really matter how complicated or even how<00:13:22.110> centralized<00:13:22.680> the<00:13:22.950> system<00:13:23.310> is<00:13:23.490> that 00:13:23.660 --> 00:13:23.670 align:start position:0% how centralized the system is that 00:13:23.670 --> 00:13:25.400 align:start position:0% how centralized the system is that creates<00:13:24.090> those<00:13:24.330> tokens<00:13:24.570> as<00:13:24.930> long<00:13:25.140> as<00:13:25.290> you're 00:13:25.400 --> 00:13:25.410 align:start position:0% creates those tokens as long as you're 00:13:25.410 --> 00:13:26.870 align:start position:0% creates those tokens as long as you're able<00:13:25.560> to<00:13:25.860> eventually<00:13:26.370> takes<00:13:26.610> all 00:13:26.870 --> 00:13:26.880 align:start position:0% able to eventually takes all 00:13:26.880 --> 00:13:29.120 align:start position:0% able to eventually takes all in<00:13:27.060> custody<00:13:27.600> of<00:13:27.720> those<00:13:27.840> tokens<00:13:28.320> you<00:13:28.740> can<00:13:28.920> play 00:13:29.120 --> 00:13:29.130 align:start position:0% in custody of those tokens you can play 00:13:29.130 --> 00:13:30.890 align:start position:0% in custody of those tokens you can play with<00:13:29.310> the<00:13:29.400> rest<00:13:29.520> of<00:13:29.670> the<00:13:29.790> etherium<00:13:30.270> ecosystem 00:13:30.890 --> 00:13:30.900 align:start position:0% with the rest of the etherium ecosystem 00:13:30.900 --> 00:13:32.870 align:start position:0% with the rest of the etherium ecosystem so<00:13:31.380> to<00:13:31.440> tie<00:13:31.680> it<00:13:31.800> all<00:13:31.890> back<00:13:32.070> together<00:13:32.220> to<00:13:32.700> this 00:13:32.870 --> 00:13:32.880 align:start position:0% so to tie it all back together to this 00:13:32.880 --> 00:13:34.610 align:start position:0% so to tie it all back together to this ticketing<00:13:33.660> application<00:13:34.230> that<00:13:34.350> I'm<00:13:34.440> talking 00:13:34.610 --> 00:13:34.620 align:start position:0% ticketing application that I'm talking 00:13:34.620 --> 00:13:36.860 align:start position:0% ticketing application that I'm talking about<00:13:34.890> once<00:13:35.460> you<00:13:35.610> receive<00:13:35.940> that<00:13:36.150> NFT<00:13:36.600> or<00:13:36.720> that 00:13:36.860 --> 00:13:36.870 align:start position:0% about once you receive that NFT or that 00:13:36.870 --> 00:13:39.020 align:start position:0% about once you receive that NFT or that er<00:13:37.110> c20<00:13:37.620> that<00:13:37.770> represents<00:13:38.250> your<00:13:38.370> ticket<00:13:38.700> you 00:13:39.020 --> 00:13:39.030 align:start position:0% er c20 that represents your ticket you 00:13:39.030 --> 00:13:40.400 align:start position:0% er c20 that represents your ticket you could<00:13:39.240> stake<00:13:39.510> it<00:13:39.660> on<00:13:39.780> the<00:13:39.870> you<00:13:39.960> know<00:13:40.050> swap<00:13:40.260> if 00:13:40.400 --> 00:13:40.410 align:start position:0% could stake it on the you know swap if 00:13:40.410 --> 00:13:41.780 align:start position:0% could stake it on the you know swap if you<00:13:40.530> want<00:13:40.740> or<00:13:40.860> sorry<00:13:41.070> put<00:13:41.340> it<00:13:41.430> in<00:13:41.520> a<00:13:41.550> eunice 00:13:41.780 --> 00:13:41.790 align:start position:0% you want or sorry put it in a eunice 00:13:41.790 --> 00:13:43.220 align:start position:0% you want or sorry put it in a eunice watt<00:13:41.940> pool<00:13:42.150> if<00:13:42.300> you<00:13:42.330> wanted<00:13:42.600> to<00:13:42.780> you<00:13:43.050> could 00:13:43.220 --> 00:13:43.230 align:start position:0% watt pool if you wanted to you could 00:13:43.230 --> 00:13:44.870 align:start position:0% watt pool if you wanted to you could perform<00:13:43.680> an<00:13:43.770> atomic<00:13:44.160> swap<00:13:44.400> with<00:13:44.580> it<00:13:44.700> if<00:13:44.790> you 00:13:44.870 --> 00:13:44.880 align:start position:0% perform an atomic swap with it if you 00:13:44.880 --> 00:13:46.730 align:start position:0% perform an atomic swap with it if you wanted<00:13:45.120> to<00:13:45.300> the<00:13:45.750> sky<00:13:45.960> is<00:13:46.020> limit<00:13:46.500> because 00:13:46.730 --> 00:13:46.740 align:start position:0% wanted to the sky is limit because 00:13:46.740 --> 00:13:49.460 align:start position:0% wanted to the sky is limit because you've<00:13:46.890> received<00:13:47.250> delivery<00:13:47.790> I<00:13:48.470> mentioned 00:13:49.460 --> 00:13:49.470 align:start position:0% you've received delivery I mentioned 00:13:49.470 --> 00:13:51.590 align:start position:0% you've received delivery I mentioned centralization<00:13:50.100> earlier<00:13:50.430> and<00:13:50.730> there<00:13:51.420> are<00:13:51.570> a 00:13:51.590 --> 00:13:51.600 align:start position:0% centralization earlier and there are a 00:13:51.600 --> 00:13:53.270 align:start position:0% centralization earlier and there are a class<00:13:51.900> of<00:13:52.050> applications<00:13:52.620> to<00:13:52.800> which<00:13:52.980> it 00:13:53.270 --> 00:13:53.280 align:start position:0% class of applications to which it 00:13:53.280 --> 00:13:55.310 align:start position:0% class of applications to which it probably<00:13:53.760> just<00:13:54.180> makes<00:13:54.450> sense<00:13:54.630> to<00:13:54.870> centralize 00:13:55.310 --> 00:13:55.320 align:start position:0% probably just makes sense to centralize 00:13:55.320 --> 00:13:58.370 align:start position:0% probably just makes sense to centralize it<00:13:55.500> at<00:13:55.650> this<00:13:55.860> particular<00:13:56.040> juncture<00:13:56.790> so<00:13:57.380> if 00:13:58.370 --> 00:13:58.380 align:start position:0% it at this particular juncture so if 00:13:58.380 --> 00:14:00.230 align:start position:0% it at this particular juncture so if you're<00:13:58.620> the<00:13:58.860> mentor<00:13:59.160> of<00:13:59.310> the<00:13:59.340> token<00:13:59.760> you're 00:14:00.230 --> 00:14:00.240 align:start position:0% you're the mentor of the token you're 00:14:00.240 --> 00:14:02.180 align:start position:0% you're the mentor of the token you're the<00:14:00.360> only<00:14:00.660> place<00:14:00.870> that<00:14:01.080> can<00:14:01.170> use<00:14:01.380> the<00:14:01.560> token<00:14:01.740> if 00:14:02.180 --> 00:14:02.190 align:start position:0% the only place that can use the token if 00:14:02.190 --> 00:14:05.210 align:start position:0% the only place that can use the token if your<00:14:03.060> company<00:14:03.450> were<00:14:03.540> to<00:14:03.660> go<00:14:03.810> up<00:14:03.900> in<00:14:04.050> smoke<00:14:04.220> your 00:14:05.210 --> 00:14:05.220 align:start position:0% your company were to go up in smoke your 00:14:05.220 --> 00:14:07.280 align:start position:0% your company were to go up in smoke your token<00:14:05.580> which<00:14:05.760> becomes<00:14:06.120> meaningless<00:14:06.750> bytes<00:14:07.080> on 00:14:07.280 --> 00:14:07.290 align:start position:0% token which becomes meaningless bytes on 00:14:07.290 --> 00:14:07.820 align:start position:0% token which becomes meaningless bytes on a<00:14:07.320> blockchain 00:14:07.820 --> 00:14:07.830 align:start position:0% a blockchain 00:14:07.830 --> 00:14:09.860 align:start position:0% a blockchain you<00:14:08.490> should<00:14:08.640> probably<00:14:08.790> centralize<00:14:09.450> and<00:14:09.750> just 00:14:09.860 --> 00:14:09.870 align:start position:0% you should probably centralize and just 00:14:09.870 --> 00:14:11.980 align:start position:0% you should probably centralize and just allow<00:14:10.110> people<00:14:10.410> to<00:14:10.740> settle<00:14:11.190> onto 00:14:11.980 --> 00:14:11.990 align:start position:0% allow people to settle onto 00:14:11.990 --> 00:14:16.850 align:start position:0% allow people to settle onto etherium<00:14:13.220> using<00:14:14.220> a<00:14:14.340> RC<00:14:14.610> 20<00:14:14.910> or<00:14:15.030> a<00:14:15.150> RC<00:14:15.420> 7<00:14:15.600> 21s<00:14:16.260> and 00:14:16.850 --> 00:14:16.860 align:start position:0% etherium using a RC 20 or a RC 7 21s and 00:14:16.860 --> 00:14:19.340 align:start position:0% etherium using a RC 20 or a RC 7 21s and it<00:14:16.980> seems<00:14:17.280> kind<00:14:17.700> of<00:14:17.850> like<00:14:18.150> a<00:14:18.210> sad<00:14:18.630> like<00:14:19.170> an 00:14:19.340 --> 00:14:19.350 align:start position:0% it seems kind of like a sad like an 00:14:19.350 --> 00:14:20.950 align:start position:0% it seems kind of like a sad like an acceptance<00:14:19.890> of<00:14:20.040> defeat<00:14:20.220> but<00:14:20.580> it's<00:14:20.730> not 00:14:20.950 --> 00:14:20.960 align:start position:0% acceptance of defeat but it's not 00:14:20.960 --> 00:14:23.210 align:start position:0% acceptance of defeat but it's not because<00:14:21.960> at<00:14:22.170> the<00:14:22.290> end<00:14:22.320> of<00:14:22.500> the<00:14:22.560> day<00:14:22.680> adapts<00:14:23.010> or 00:14:23.210 --> 00:14:23.220 align:start position:0% because at the end of the day adapts or 00:14:23.220 --> 00:14:24.470 align:start position:0% because at the end of the day adapts or businesses<00:14:23.700> and<00:14:23.880> they're<00:14:23.970> trying<00:14:24.210> to<00:14:24.270> find 00:14:24.470 --> 00:14:24.480 align:start position:0% businesses and they're trying to find 00:14:24.480 --> 00:14:26.030 align:start position:0% businesses and they're trying to find product<00:14:24.900> market<00:14:25.170> fit<00:14:25.200> and<00:14:25.440> they're<00:14:25.740> trying<00:14:25.980> to 00:14:26.030 --> 00:14:26.040 align:start position:0% product market fit and they're trying to 00:14:26.040 --> 00:14:28.100 align:start position:0% product market fit and they're trying to get<00:14:26.280> people<00:14:26.670> to<00:14:26.700> use<00:14:27.090> them<00:14:27.420> that's<00:14:27.930> the 00:14:28.100 --> 00:14:28.110 align:start position:0% get people to use them that's the 00:14:28.110 --> 00:14:29.870 align:start position:0% get people to use them that's the important<00:14:28.530> part<00:14:28.680> people<00:14:28.980> to<00:14:29.250> use<00:14:29.490> them<00:14:29.700> and 00:14:29.870 --> 00:14:29.880 align:start position:0% important part people to use them and 00:14:29.880 --> 00:14:31.550 align:start position:0% important part people to use them and they're<00:14:30.030> more<00:14:30.210> likely<00:14:30.600> to<00:14:30.720> fail<00:14:30.900> as<00:14:31.170> a<00:14:31.230> result 00:14:31.550 --> 00:14:31.560 align:start position:0% they're more likely to fail as a result 00:14:31.560 --> 00:14:33.140 align:start position:0% they're more likely to fail as a result of<00:14:31.680> no<00:14:31.860> one<00:14:32.010> using<00:14:32.400> them<00:14:32.550> than<00:14:32.970> they<00:14:33.120> are 00:14:33.140 --> 00:14:33.150 align:start position:0% of no one using them than they are 00:14:33.150 --> 00:14:36.160 align:start position:0% of no one using them than they are people<00:14:33.900> finding<00:14:34.680> them<00:14:34.950> to<00:14:35.070> be<00:14:35.160> insufficiently 00:14:36.160 --> 00:14:36.170 align:start position:0% people finding them to be insufficiently 00:14:36.170 --> 00:14:38.840 align:start position:0% people finding them to be insufficiently decentralized<00:14:37.170> and<00:14:37.560> so<00:14:37.950> if<00:14:38.130> eventually<00:14:38.670> your 00:14:38.840 --> 00:14:38.850 align:start position:0% decentralized and so if eventually your 00:14:38.850 --> 00:14:40.610 align:start position:0% decentralized and so if eventually your DAP<00:14:39.030> becomes<00:14:39.510> something<00:14:39.840> that<00:14:40.020> could<00:14:40.380> be<00:14:40.590> a 00:14:40.610 --> 00:14:40.620 align:start position:0% DAP becomes something that could be a 00:14:40.620 --> 00:14:42.800 align:start position:0% DAP becomes something that could be a public<00:14:41.100> good<00:14:41.280> go<00:14:41.970> ahead<00:14:42.210> and<00:14:42.360> start<00:14:42.540> teasing 00:14:42.800 --> 00:14:42.810 align:start position:0% public good go ahead and start teasing 00:14:42.810 --> 00:14:44.630 align:start position:0% public good go ahead and start teasing it<00:14:43.080> apart<00:14:43.380> and<00:14:43.560> be<00:14:43.680> centralizing<00:14:44.400> it<00:14:44.490> and 00:14:44.630 --> 00:14:44.640 align:start position:0% it apart and be centralizing it and 00:14:44.640 --> 00:14:47.300 align:start position:0% it apart and be centralizing it and making<00:14:44.910> it<00:14:45.000> more<00:14:45.150> robust<00:14:45.600> but<00:14:45.960> until<00:14:46.530> then<00:14:46.710> you 00:14:47.300 --> 00:14:47.310 align:start position:0% making it more robust but until then you 00:14:47.310 --> 00:14:48.260 align:start position:0% making it more robust but until then you want<00:14:47.460> to<00:14:47.520> make<00:14:47.610> sure<00:14:47.640> you're<00:14:47.910> building<00:14:48.060> the 00:14:48.260 --> 00:14:48.270 align:start position:0% want to make sure you're building the 00:14:48.270 --> 00:14:49.520 align:start position:0% want to make sure you're building the right<00:14:48.450> thing<00:14:48.690> before<00:14:49.020> you're<00:14:49.140> building<00:14:49.440> the 00:14:49.520 --> 00:14:49.530 align:start position:0% right thing before you're building the 00:14:49.530 --> 00:14:51.490 align:start position:0% right thing before you're building the best<00:14:49.860> thing<00:14:50.100> and<00:14:50.250> I<00:14:50.640> can<00:14:50.820> say<00:14:50.970> from<00:14:51.030> experience 00:14:51.490 --> 00:14:51.500 align:start position:0% best thing and I can say from experience 00:14:51.500 --> 00:14:54.560 align:start position:0% best thing and I can say from experience having<00:14:52.500> built<00:14:52.680> several<00:14:53.040> l-2<00:14:53.580> solutions<00:14:54.150> both 00:14:54.560 --> 00:14:54.570 align:start position:0% having built several l-2 solutions both 00:14:54.570 --> 00:14:57.350 align:start position:0% having built several l-2 solutions both generic<00:14:55.080> and<00:14:55.290> specific<00:14:55.470> it<00:14:56.160> costs<00:14:56.760> hundreds 00:14:57.350 --> 00:14:57.360 align:start position:0% generic and specific it costs hundreds 00:14:57.360 --> 00:14:59.480 align:start position:0% generic and specific it costs hundreds of<00:14:57.510> thousands<00:14:57.960> of<00:14:58.050> dollars<00:14:58.260> to<00:14:58.980> build<00:14:59.190> a 00:14:59.480 --> 00:14:59.490 align:start position:0% of thousands of dollars to build a 00:14:59.490 --> 00:15:01.360 align:start position:0% of thousands of dollars to build a rigorous<00:14:59.940> audited<00:15:00.510> production-ready 00:15:01.360 --> 00:15:01.370 align:start position:0% rigorous audited production-ready 00:15:01.370 --> 00:15:04.790 align:start position:0% rigorous audited production-ready decentralized<00:15:02.370> l2<00:15:03.050> that<00:15:04.050> users<00:15:04.350> really<00:15:04.440> want 00:15:04.790 --> 00:15:04.800 align:start position:0% decentralized l2 that users really want 00:15:04.800 --> 00:15:06.920 align:start position:0% decentralized l2 that users really want to<00:15:04.950> use<00:15:05.160> and<00:15:05.430> that's<00:15:06.180> a<00:15:06.300> huge<00:15:06.630> risk 00:15:06.920 --> 00:15:06.930 align:start position:0% to use and that's a huge risk 00:15:06.930 --> 00:15:11.140 align:start position:0% to use and that's a huge risk particularly<00:15:07.860> for<00:15:08.250> a<00:15:08.280> tiny<00:15:08.520> company<00:15:09.320> so 00:15:11.140 --> 00:15:11.150 align:start position:0% particularly for a tiny company so 00:15:11.150 --> 00:15:14.750 align:start position:0% particularly for a tiny company so continuing<00:15:12.830> we've<00:15:13.830> ticked<00:15:14.010> all<00:15:14.190> of<00:15:14.310> our<00:15:14.400> boxes 00:15:14.750 --> 00:15:14.760 align:start position:0% continuing we've ticked all of our boxes 00:15:14.760 --> 00:15:17.120 align:start position:0% continuing we've ticked all of our boxes but<00:15:15.420> there's<00:15:15.600> sort<00:15:15.690> of<00:15:15.810> a<00:15:15.900> big<00:15:16.130> question 00:15:17.120 --> 00:15:17.130 align:start position:0% but there's sort of a big question 00:15:17.130 --> 00:15:19.580 align:start position:0% but there's sort of a big question remaining<00:15:17.430> which<00:15:17.910> is<00:15:18.090> like<00:15:18.270> what's<00:15:18.990> next<00:15:19.260> and 00:15:19.580 --> 00:15:19.590 align:start position:0% remaining which is like what's next and 00:15:19.590 --> 00:15:21.560 align:start position:0% remaining which is like what's next and why<00:15:19.680> does<00:15:19.860> this<00:15:19.950> matter<00:15:20.010> this<00:15:20.550> is<00:15:20.700> not<00:15:20.880> fun 00:15:21.560 --> 00:15:21.570 align:start position:0% why does this matter this is not fun 00:15:21.570 --> 00:15:23.990 align:start position:0% why does this matter this is not fun crypto<00:15:22.020> this<00:15:22.380> is<00:15:22.530> not<00:15:22.710> zk<00:15:23.130> snarks<00:15:23.580> it's<00:15:23.790> just 00:15:23.990 --> 00:15:24.000 align:start position:0% crypto this is not zk snarks it's just 00:15:24.000 --> 00:15:26.180 align:start position:0% crypto this is not zk snarks it's just sort<00:15:24.210> of<00:15:24.300> boring<00:15:24.750> solutions<00:15:25.350> to<00:15:25.530> get<00:15:25.710> people 00:15:26.180 --> 00:15:26.190 align:start position:0% sort of boring solutions to get people 00:15:26.190 --> 00:15:27.680 align:start position:0% sort of boring solutions to get people to<00:15:26.400> start<00:15:26.820> using<00:15:27.090> aetherium 00:15:27.680 --> 00:15:27.690 align:start position:0% to start using aetherium 00:15:27.690 --> 00:15:29.870 align:start position:0% to start using aetherium why<00:15:27.990> does<00:15:28.290> getting<00:15:28.530> people<00:15:28.950> to<00:15:29.220> start<00:15:29.430> using<00:15:29.490> a 00:15:29.870 --> 00:15:29.880 align:start position:0% why does getting people to start using a 00:15:29.880 --> 00:15:31.720 align:start position:0% why does getting people to start using a theorem<00:15:30.240> actually<00:15:30.510> matter 00:15:31.720 --> 00:15:31.730 align:start position:0% theorem actually matter 00:15:31.730 --> 00:15:34.360 align:start position:0% theorem actually matter well<00:15:32.730> let's<00:15:32.880> tie<00:15:33.030> it<00:15:33.090> all<00:15:33.210> back<00:15:33.330> together 00:15:34.360 --> 00:15:34.370 align:start position:0% well let's tie it all back together 00:15:34.370 --> 00:15:37.280 align:start position:0% well let's tie it all back together people<00:15:35.370> talk<00:15:35.580> in<00:15:35.910> the<00:15:36.150> abstract<00:15:36.600> about<00:15:37.020> an 00:15:37.280 --> 00:15:37.290 align:start position:0% people talk in the abstract about an 00:15:37.290 --> 00:15:39.190 align:start position:0% people talk in the abstract about an aetherium<00:15:37.860> killer<00:15:38.400> app 00:15:39.190 --> 00:15:39.200 align:start position:0% aetherium killer app 00:15:39.200 --> 00:15:41.410 align:start position:0% aetherium killer app the<00:15:39.889> reason<00:15:40.160> an<00:15:40.250> aetherium<00:15:40.670> killer<00:15:40.910> app<00:15:41.149> is 00:15:41.410 --> 00:15:41.420 align:start position:0% the reason an aetherium killer app is 00:15:41.420 --> 00:15:43.449 align:start position:0% the reason an aetherium killer app is interesting<00:15:41.990> and<00:15:42.139> useful<00:15:42.290> is<00:15:42.709> that<00:15:43.010> unlike 00:15:43.449 --> 00:15:43.459 align:start position:0% interesting and useful is that unlike 00:15:43.459 --> 00:15:45.430 align:start position:0% interesting and useful is that unlike say<00:15:43.970> a<00:15:44.000> Silicon<00:15:44.630> Valley<00:15:44.810> venture<00:15:44.959> backed 00:15:45.430 --> 00:15:45.440 align:start position:0% say a Silicon Valley venture backed 00:15:45.440 --> 00:15:47.079 align:start position:0% say a Silicon Valley venture backed company<00:15:45.920> where<00:15:46.160> to<00:15:46.399> the<00:15:46.550> victor<00:15:46.880> goes<00:15:47.060> the 00:15:47.079 --> 00:15:47.089 align:start position:0% company where to the victor goes the 00:15:47.089 --> 00:15:49.300 align:start position:0% company where to the victor goes the spoils<00:15:47.600> and<00:15:47.930> the<00:15:48.019> goal<00:15:48.200> is<00:15:48.410> you<00:15:48.889> grow<00:15:49.160> your 00:15:49.300 --> 00:15:49.310 align:start position:0% spoils and the goal is you grow your 00:15:49.310 --> 00:15:51.009 align:start position:0% spoils and the goal is you grow your platform<00:15:49.790> you<00:15:49.910> engage<00:15:50.180> with<00:15:50.209> your<00:15:50.420> users<00:15:50.480> and 00:15:51.009 --> 00:15:51.019 align:start position:0% platform you engage with your users and 00:15:51.019 --> 00:15:52.540 align:start position:0% platform you engage with your users and then<00:15:51.110> you<00:15:51.200> exploit<00:15:51.709> them<00:15:51.920> and<00:15:52.070> you<00:15:52.130> crush<00:15:52.370> them 00:15:52.540 --> 00:15:52.550 align:start position:0% then you exploit them and you crush them 00:15:52.550 --> 00:15:54.850 align:start position:0% then you exploit them and you crush them under<00:15:52.730> the<00:15:52.850> heel<00:15:53.000> of<00:15:53.180> your<00:15:53.329> boot<00:15:53.860> every 00:15:54.850 --> 00:15:54.860 align:start position:0% under the heel of your boot every 00:15:54.860 --> 00:15:56.500 align:start position:0% under the heel of your boot every startup<00:15:55.160> that<00:15:55.220> launches<00:15:55.670> on<00:15:55.790> aetherium<00:15:56.240> has<00:15:56.480> a 00:15:56.500 --> 00:15:56.510 align:start position:0% startup that launches on aetherium has a 00:15:56.510 --> 00:15:58.120 align:start position:0% startup that launches on aetherium has a unique<00:15:56.839> opportunity<00:15:57.110> to<00:15:57.440> find<00:15:57.740> fit<00:15:57.949> for 00:15:58.120 --> 00:15:58.130 align:start position:0% unique opportunity to find fit for 00:15:58.130 --> 00:16:01.240 align:start position:0% unique opportunity to find fit for itself<00:15:58.459> but<00:15:59.029> also<00:15:59.329> find<00:16:00.290> fit<00:16:00.529> for<00:16:00.740> the<00:16:00.829> entire 00:16:01.240 --> 00:16:01.250 align:start position:0% itself but also find fit for the entire 00:16:01.250 --> 00:16:04.300 align:start position:0% itself but also find fit for the entire chain<00:16:01.870> we<00:16:02.870> don't<00:16:03.050> talk<00:16:03.260> about<00:16:03.440> yuna<00:16:03.860> swap<00:16:04.100> in 00:16:04.300 --> 00:16:04.310 align:start position:0% chain we don't talk about yuna swap in 00:16:04.310 --> 00:16:06.040 align:start position:0% chain we don't talk about yuna swap in the<00:16:04.339> context<00:16:04.910> as<00:16:05.180> if<00:16:05.329> you<00:16:05.449> know<00:16:05.570> swap<00:16:05.779> is<00:16:05.930> the 00:16:06.040 --> 00:16:06.050 align:start position:0% the context as if you know swap is the 00:16:06.050 --> 00:16:08.439 align:start position:0% the context as if you know swap is the only<00:16:06.440> defy<00:16:06.800> thing<00:16:07.070> we<00:16:07.310> talked<00:16:07.519> about<00:16:07.550> defy<00:16:08.180> as 00:16:08.439 --> 00:16:08.449 align:start position:0% only defy thing we talked about defy as 00:16:08.449 --> 00:16:10.900 align:start position:0% only defy thing we talked about defy as a<00:16:08.510> whole<00:16:09.079> so<00:16:09.740> something<00:16:10.220> succeeding<00:16:10.790> on 00:16:10.900 --> 00:16:10.910 align:start position:0% a whole so something succeeding on 00:16:10.910 --> 00:16:12.879 align:start position:0% a whole so something succeeding on aetherium<00:16:11.300> grows<00:16:11.720> the<00:16:11.930> pie<00:16:12.110> for<00:16:12.170> everything 00:16:12.879 --> 00:16:12.889 align:start position:0% aetherium grows the pie for everything 00:16:12.889 --> 00:16:16.389 align:start position:0% aetherium grows the pie for everything else<00:16:13.100> and<00:16:13.459> the<00:16:14.060> best<00:16:14.240> way<00:16:14.420> to<00:16:14.449> do<00:16:14.750> that<00:16:14.930> is<00:16:15.399> to 00:16:16.389 --> 00:16:16.399 align:start position:0% else and the best way to do that is to 00:16:16.399 --> 00:16:18.850 align:start position:0% else and the best way to do that is to build<00:16:16.610> lots<00:16:17.089> of<00:16:17.240> MVPs<00:16:17.720> that<00:16:18.320> provide<00:16:18.589> user 00:16:18.850 --> 00:16:18.860 align:start position:0% build lots of MVPs that provide user 00:16:18.860 --> 00:16:21.939 align:start position:0% build lots of MVPs that provide user value<00:16:19.310> and<00:16:19.519> talk<00:16:20.360> to<00:16:20.570> those<00:16:20.720> users<00:16:21.110> and<00:16:21.380> those 00:16:21.939 --> 00:16:21.949 align:start position:0% value and talk to those users and those 00:16:21.949 --> 00:16:24.040 align:start position:0% value and talk to those users and those users<00:16:22.220> have<00:16:22.639> to<00:16:22.670> be<00:16:22.850> mainstream<00:16:23.360> users<00:16:23.959> that 00:16:24.040 --> 00:16:24.050 align:start position:0% users have to be mainstream users that 00:16:24.050 --> 00:16:26.050 align:start position:0% users have to be mainstream users that are<00:16:24.199> solving<00:16:24.500> a<00:16:24.589> problem<00:16:25.010> because<00:16:25.519> the<00:16:25.790> number 00:16:26.050 --> 00:16:26.060 align:start position:0% are solving a problem because the number 00:16:26.060 --> 00:16:27.430 align:start position:0% are solving a problem because the number of<00:16:26.180> people<00:16:26.360> that<00:16:26.630> are<00:16:26.720> interested<00:16:26.870> in<00:16:27.110> crypto 00:16:27.430 --> 00:16:27.440 align:start position:0% of people that are interested in crypto 00:16:27.440 --> 00:16:30.100 align:start position:0% of people that are interested in crypto for<00:16:27.649> crypto<00:16:27.980> sake<00:16:28.279> is<00:16:28.519> extraordinarily<00:16:29.300> small 00:16:30.100 --> 00:16:30.110 align:start position:0% for crypto sake is extraordinarily small 00:16:30.110 --> 00:16:33.240 align:start position:0% for crypto sake is extraordinarily small I<00:16:31.089> really<00:16:32.089> really<00:16:32.240> like<00:16:32.420> this<00:16:32.570> graphic 00:16:33.240 --> 00:16:33.250 align:start position:0% I really really like this graphic 00:16:33.250 --> 00:16:35.920 align:start position:0% I really really like this graphic because<00:16:34.250> it<00:16:34.399> talks<00:16:34.610> about<00:16:34.910> what<00:16:35.449> a<00:16:35.480> successful 00:16:35.920 --> 00:16:35.930 align:start position:0% because it talks about what a successful 00:16:35.930 --> 00:16:38.710 align:start position:0% because it talks about what a successful MVP<00:16:36.620> is<00:16:36.829> so<00:16:37.519> in<00:16:37.639> this<00:16:37.730> case<00:16:37.940> the<00:16:38.149> MVP<00:16:38.540> is<00:16:38.690> a 00:16:38.710 --> 00:16:38.720 align:start position:0% MVP is so in this case the MVP is a 00:16:38.720 --> 00:16:41.470 align:start position:0% MVP is so in this case the MVP is a transportation<00:16:39.529> device<00:16:39.949> and<00:16:40.610> so<00:16:41.209> on<00:16:41.360> the 00:16:41.470 --> 00:16:41.480 align:start position:0% transportation device and so on the 00:16:41.480 --> 00:16:42.910 align:start position:0% transportation device and so on the bottom<00:16:41.750> they<00:16:41.870> start<00:16:42.110> with<00:16:42.260> a<00:16:42.320> skateboard<00:16:42.800> and 00:16:42.910 --> 00:16:42.920 align:start position:0% bottom they start with a skateboard and 00:16:42.920 --> 00:16:44.740 align:start position:0% bottom they start with a skateboard and eventually<00:16:43.339> emerges<00:16:43.760> into<00:16:43.910> a<00:16:44.000> car<00:16:44.240> and<00:16:44.510> on<00:16:44.660> the 00:16:44.740 --> 00:16:44.750 align:start position:0% eventually emerges into a car and on the 00:16:44.750 --> 00:16:46.300 align:start position:0% eventually emerges into a car and on the top<00:16:44.959> they<00:16:45.140> start<00:16:45.380> with<00:16:45.470> the<00:16:45.560> wheel<00:16:45.740> and<00:16:46.220> then 00:16:46.300 --> 00:16:46.310 align:start position:0% top they start with the wheel and then 00:16:46.310 --> 00:16:47.500 align:start position:0% top they start with the wheel and then eventually<00:16:46.550> they<00:16:46.790> put<00:16:46.940> together<00:16:47.089> a<00:16:47.300> car 00:16:47.500 --> 00:16:47.510 align:start position:0% eventually they put together a car 00:16:47.510 --> 00:16:49.150 align:start position:0% eventually they put together a car anyway<00:16:48.019> the<00:16:48.230> bits<00:16:48.410> gone<00:16:48.560> on<00:16:48.680> a<00:16:48.709> little<00:16:48.890> bit<00:16:49.040> too 00:16:49.150 --> 00:16:49.160 align:start position:0% anyway the bits gone on a little bit too 00:16:49.160 --> 00:16:53.560 align:start position:0% anyway the bits gone on a little bit too long<00:16:49.279> but<00:16:50.290> the<00:16:51.290> idea<00:16:51.560> is<00:16:51.670> up<00:16:52.670> until<00:16:53.149> relatively 00:16:53.560 --> 00:16:53.570 align:start position:0% long but the idea is up until relatively 00:16:53.570 --> 00:16:55.870 align:start position:0% long but the idea is up until relatively recently<00:16:53.690> and<00:16:54.350> this<00:16:54.649> is<00:16:54.829> a<00:16:54.860> testament<00:16:55.519> to<00:16:55.670> the 00:16:55.870 --> 00:16:55.880 align:start position:0% recently and this is a testament to the 00:16:55.880 --> 00:16:57.939 align:start position:0% recently and this is a testament to the etherium<00:16:56.300> community<00:16:56.750> we<00:16:57.470> didn't<00:16:57.740> even<00:16:57.860> have 00:16:57.939 --> 00:16:57.949 align:start position:0% etherium community we didn't even have 00:16:57.949 --> 00:17:00.009 align:start position:0% etherium community we didn't even have the<00:16:58.250> wheels<00:16:58.430> we<00:16:58.970> didn't<00:16:59.209> have<00:16:59.329> the<00:16:59.480> primitives 00:17:00.009 --> 00:17:00.019 align:start position:0% the wheels we didn't have the primitives 00:17:00.019 --> 00:17:02.259 align:start position:0% the wheels we didn't have the primitives to<00:17:00.560> actually<00:17:00.920> choose<00:17:01.220> between<00:17:01.519> which<00:17:01.850> model 00:17:02.259 --> 00:17:02.269 align:start position:0% to actually choose between which model 00:17:02.269 --> 00:17:04.600 align:start position:0% to actually choose between which model of<00:17:02.390> MVP<00:17:02.930> we<00:17:03.140> wanted<00:17:03.470> to<00:17:03.560> go<00:17:03.680> about<00:17:03.890> building<00:17:03.949> in 00:17:04.600 --> 00:17:04.610 align:start position:0% of MVP we wanted to go about building in 00:17:04.610 --> 00:17:06.880 align:start position:0% of MVP we wanted to go about building in order<00:17:04.910> to<00:17:05.000> build<00:17:05.209> mainstream<00:17:06.049> decentralize 00:17:06.880 --> 00:17:06.890 align:start position:0% order to build mainstream decentralize 00:17:06.890 --> 00:17:10.750 align:start position:0% order to build mainstream decentralize applications<00:17:07.549> we<00:17:08.299> do<00:17:08.540> now<00:17:08.780> with<00:17:09.530> l2<00:17:09.919> with<00:17:10.640> all 00:17:10.750 --> 00:17:10.760 align:start position:0% applications we do now with l2 with all 00:17:10.760 --> 00:17:12.039 align:start position:0% applications we do now with l2 with all the<00:17:10.939> open<00:17:11.240> source<00:17:11.390> work<00:17:11.660> that's<00:17:11.870> been<00:17:11.990> done 00:17:12.039 --> 00:17:12.049 align:start position:0% the open source work that's been done 00:17:12.049 --> 00:17:13.240 align:start position:0% the open source work that's been done with<00:17:12.350> many<00:17:12.559> of<00:17:12.679> the<00:17:12.770> things<00:17:12.980> that<00:17:13.100> have<00:17:13.220> been 00:17:13.240 --> 00:17:13.250 align:start position:0% with many of the things that have been 00:17:13.250 --> 00:17:14.949 align:start position:0% with many of the things that have been described<00:17:13.669> at<00:17:13.790> this<00:17:13.939> very<00:17:14.120> conference<00:17:14.480> we 00:17:14.949 --> 00:17:14.959 align:start position:0% described at this very conference we 00:17:14.959 --> 00:17:16.449 align:start position:0% described at this very conference we have<00:17:15.079> the<00:17:15.199> ability<00:17:15.559> to<00:17:15.589> do<00:17:15.799> things<00:17:16.010> at<00:17:16.220> this 00:17:16.449 --> 00:17:16.459 align:start position:0% have the ability to do things at this 00:17:16.459 --> 00:17:18.730 align:start position:0% have the ability to do things at this very<00:17:16.699> moment<00:17:17.000> so<00:17:17.929> it's<00:17:18.110> a<00:17:18.199> watershed<00:17:18.500> moment 00:17:18.730 --> 00:17:18.740 align:start position:0% very moment so it's a watershed moment 00:17:18.740 --> 00:17:21.610 align:start position:0% very moment so it's a watershed moment in<00:17:19.160> aetherium<00:17:19.939> to<00:17:20.780> get<00:17:20.959> to<00:17:21.110> the<00:17:21.199> next<00:17:21.350> ten 00:17:21.610 --> 00:17:21.620 align:start position:0% in aetherium to get to the next ten 00:17:21.620 --> 00:17:23.770 align:start position:0% in aetherium to get to the next ten million<00:17:21.799> users<00:17:22.250> in<00:17:22.280> aetherium<00:17:22.850> we<00:17:23.540> need<00:17:23.689> to 00:17:23.770 --> 00:17:23.780 align:start position:0% million users in aetherium we need to 00:17:23.780 --> 00:17:26.020 align:start position:0% million users in aetherium we need to find<00:17:24.020> that<00:17:24.169> killer<00:17:24.410> app<00:17:24.850> removing<00:17:25.850> barriers 00:17:26.020 --> 00:17:26.030 align:start position:0% find that killer app removing barriers 00:17:26.030 --> 00:17:27.819 align:start position:0% find that killer app removing barriers and<00:17:26.449> not<00:17:26.569> forcing<00:17:27.020> users<00:17:27.290> to<00:17:27.380> change<00:17:27.589> their 00:17:27.819 --> 00:17:27.829 align:start position:0% and not forcing users to change their 00:17:27.829 --> 00:17:29.710 align:start position:0% and not forcing users to change their behaviors<00:17:28.309> lets<00:17:28.880> us<00:17:29.030> validate<00:17:29.510> more 00:17:29.710 --> 00:17:29.720 align:start position:0% behaviors lets us validate more 00:17:29.720 --> 00:17:31.570 align:start position:0% behaviors lets us validate more hypotheses<00:17:30.410> about<00:17:30.590> what<00:17:30.830> users<00:17:31.160> want<00:17:31.370> to<00:17:31.429> use 00:17:31.570 --> 00:17:31.580 align:start position:0% hypotheses about what users want to use 00:17:31.580 --> 00:17:34.480 align:start position:0% hypotheses about what users want to use aetherium<00:17:31.940> for<00:17:32.299> more<00:17:32.990> quickly<00:17:33.470> so<00:17:34.160> that<00:17:34.190> over 00:17:34.480 --> 00:17:34.490 align:start position:0% aetherium for more quickly so that over 00:17:34.490 --> 00:17:36.549 align:start position:0% aetherium for more quickly so that over time<00:17:34.520> we<00:17:34.880> can<00:17:34.910> in<00:17:35.480> fact<00:17:35.720> to<00:17:35.809> make<00:17:35.960> people<00:17:36.230> care 00:17:36.549 --> 00:17:36.559 align:start position:0% time we can in fact to make people care 00:17:36.559 --> 00:17:40.180 align:start position:0% time we can in fact to make people care more<00:17:36.860> about<00:17:37.419> decentralization<00:17:38.980> than<00:17:39.980> just 00:17:40.180 --> 00:17:40.190 align:start position:0% more about decentralization than just 00:17:40.190 --> 00:17:45.010 align:start position:0% more about decentralization than just convenience<00:17:40.720> so<00:17:42.790> that's<00:17:43.790> the<00:17:43.910> end<00:17:44.059> I<00:17:44.270> hope<00:17:44.929> you 00:17:45.010 --> 00:17:45.020 align:start position:0% convenience so that's the end I hope you 00:17:45.020 --> 00:17:46.780 align:start position:0% convenience so that's the end I hope you found<00:17:45.110> it<00:17:45.230> helpful<00:17:45.290> and<00:17:45.590> interesting<00:17:45.950> this<00:17:46.730> is 00:17:46.780 --> 00:17:46.790 align:start position:0% found it helpful and interesting this is 00:17:46.790 --> 00:17:48.310 align:start position:0% found it helpful and interesting this is usually<00:17:46.970> also<00:17:47.299> the<00:17:47.540> bit<00:17:47.690> where<00:17:47.840> like<00:17:47.960> I<00:17:48.110> you 00:17:48.310 --> 00:17:48.320 align:start position:0% usually also the bit where like I you 00:17:48.320 --> 00:17:50.049 align:start position:0% usually also the bit where like I you know<00:17:48.440> try<00:17:49.040> and<00:17:49.159> sell<00:17:49.280> you<00:17:49.370> stuff<00:17:49.429> but<00:17:49.850> I<00:17:49.880> don't 00:17:50.049 --> 00:17:50.059 align:start position:0% know try and sell you stuff but I don't 00:17:50.059 --> 00:17:51.130 align:start position:0% know try and sell you stuff but I don't actually<00:17:50.120> have<00:17:50.390> anything<00:17:50.630> I<00:17:50.780> want<00:17:50.929> to<00:17:50.990> sell 00:17:51.130 --> 00:17:51.140 align:start position:0% actually have anything I want to sell 00:17:51.140 --> 00:17:52.820 align:start position:0% actually have anything I want to sell you<00:17:51.169> instead<00:17:52.159> I'm<00:17:52.429> working<00:17:52.700> on 00:17:52.820 --> 00:17:52.830 align:start position:0% you instead I'm working on 00:17:52.830 --> 00:17:54.049 align:start position:0% you instead I'm working on a lot<00:17:52.950> of<00:17:53.039> interesting<00:17:53.309> stuff<00:17:53.519> at<00:17:53.669> Keo<00:17:53.850> can 00:17:54.049 --> 00:17:54.059 align:start position:0% a lot of interesting stuff at Keo can 00:17:54.059 --> 00:17:56.299 align:start position:0% a lot of interesting stuff at Keo can shoot<00:17:54.659> me<00:17:54.750> a<00:17:54.809> DM<00:17:54.990> on<00:17:55.140> Twitter<00:17:55.380> if<00:17:55.950> you<00:17:55.980> want<00:17:56.130> to 00:17:56.299 --> 00:17:56.309 align:start position:0% shoot me a DM on Twitter if you want to 00:17:56.309 --> 00:17:57.799 align:start position:0% shoot me a DM on Twitter if you want to hear<00:17:56.460> more<00:17:56.580> about<00:17:56.640> it 00:17:57.799 --> 00:17:57.809 align:start position:0% hear more about it 00:17:57.809 --> 00:18:00.350 align:start position:0% hear more about it otherwise<00:17:58.289> ya<00:17:58.980> would<00:17:59.159> love<00:17:59.370> to<00:17:59.610> hear<00:18:00.299> more 00:18:00.350 --> 00:18:00.360 align:start position:0% otherwise ya would love to hear more 00:18:00.360 --> 00:18:01.820 align:start position:0% otherwise ya would love to hear more about<00:18:00.600> what<00:18:01.049> people<00:18:01.350> think<00:18:01.529> of<00:18:01.649> these 00:18:01.820 --> 00:18:01.830 align:start position:0% about what people think of these 00:18:01.830 --> 00:18:04.039 align:start position:0% about what people think of these concepts<00:18:02.279> and<00:18:02.460> if<00:18:02.549> you're<00:18:02.700> talking<00:18:02.909> about<00:18:03.179> or 00:18:04.039 --> 00:18:04.049 align:start position:0% concepts and if you're talking about or 00:18:04.049 --> 00:18:05.419 align:start position:0% concepts and if you're talking about or you're<00:18:04.169> interested<00:18:04.529> in<00:18:04.620> talking<00:18:04.830> about<00:18:05.010> UX 00:18:05.419 --> 00:18:05.429 align:start position:0% you're interested in talking about UX 00:18:05.429 --> 00:18:08.690 align:start position:0% you're interested in talking about UX adoption<00:18:06.240> and<00:18:06.450> l2<00:18:06.840> feel<00:18:07.830> free<00:18:08.010> to<00:18:08.039> reach<00:18:08.220> out 00:18:08.690 --> 00:18:08.700 align:start position:0% adoption and l2 feel free to reach out 00:18:08.700 --> 00:18:10.670 align:start position:0% adoption and l2 feel free to reach out thank<00:18:09.149> you<00:18:09.210> very<00:18:09.240> much 00:18:10.670 --> 00:18:10.680 align:start position:0% thank you very much 00:18:10.680 --> 00:18:19.160 align:start position:0% thank you very much [Applause] 00:18:19.160 --> 00:18:19.170 align:start position:0% 00:18:19.170 --> 00:18:21.230 align:start position:0% you