WEBVTT Kind: captions Language: en 00:00:05.070 --> 00:00:14.910 align:start position:0% [Music] 00:00:14.910 --> 00:00:14.920 align:start position:0% 00:00:14.920 --> 00:00:18.510 align:start position:0% [Music] 00:00:18.510 --> 00:00:18.520 align:start position:0% 00:00:18.520 --> 00:00:19.390 align:start position:0% hi 00:00:19.390 --> 00:00:19.400 align:start position:0% hi 00:00:19.400 --> 00:00:21.990 align:start position:0% hi everybody<00:00:20.400> so<00:00:21.000> I'm<00:00:21.119> going<00:00:21.240> to<00:00:21.359> try<00:00:21.519> and<00:00:21.680> do<00:00:21.800> a 00:00:21.990 --> 00:00:22.000 align:start position:0% everybody so I'm going to try and do a 00:00:22.000 --> 00:00:26.630 align:start position:0% everybody so I'm going to try and do a summary<00:00:23.359> of<00:00:24.359> basically<00:00:24.920> my<00:00:25.119> entire<00:00:25.599> adult 00:00:26.630 --> 00:00:26.640 align:start position:0% summary of basically my entire adult 00:00:26.640 --> 00:00:31.390 align:start position:0% summary of basically my entire adult life<00:00:27.880> H<00:00:28.880> as<00:00:29.080> it's<00:00:29.279> related<00:00:29.560> to<00:00:29.679> crypto<00:00:30.400> graphy 00:00:31.390 --> 00:00:31.400 align:start position:0% life H as it's related to crypto graphy 00:00:31.400 --> 00:00:33.750 align:start position:0% life H as it's related to crypto graphy um<00:00:31.920> so<00:00:32.239> I<00:00:32.439> was<00:00:32.759> the<00:00:32.920> kind<00:00:33.040> of<00:00:33.239> you<00:00:33.320> know 00:00:33.750 --> 00:00:33.760 align:start position:0% um so I was the kind of you know 00:00:33.760 --> 00:00:36.350 align:start position:0% um so I was the kind of you know archetypal<00:00:34.399> teenage<00:00:34.840> Cipher<00:00:35.280> punk<00:00:35.520> in<00:00:35.600> the 00:00:36.350 --> 00:00:36.360 align:start position:0% archetypal teenage Cipher punk in the 00:00:36.360 --> 00:00:39.950 align:start position:0% archetypal teenage Cipher punk in the 1990s<00:00:37.360> uh<00:00:37.480> I<00:00:37.559> was<00:00:38.320> tangentially<00:00:39.280> very<00:00:39.520> quietly 00:00:39.950 --> 00:00:39.960 align:start position:0% 1990s uh I was tangentially very quietly 00:00:39.960 --> 00:00:41.510 align:start position:0% 1990s uh I was tangentially very quietly involved<00:00:40.320> with<00:00:40.440> an<00:00:40.559> organization<00:00:41.160> called 00:00:41.510 --> 00:00:41.520 align:start position:0% involved with an organization called 00:00:41.520 --> 00:00:44.670 align:start position:0% involved with an organization called crypto<00:00:42.160> rights<00:00:43.160> which<00:00:43.360> was<00:00:43.840> doing<00:00:44.239> software 00:00:44.670 --> 00:00:44.680 align:start position:0% crypto rights which was doing software 00:00:44.680 --> 00:00:46.229 align:start position:0% crypto rights which was doing software to<00:00:44.800> get<00:00:44.920> human<00:00:45.200> rights<00:00:45.440> abuse<00:00:45.719> they<00:00:46.000> out<00:00:46.120> of 00:00:46.229 --> 00:00:46.239 align:start position:0% to get human rights abuse they out of 00:00:46.239 --> 00:00:49.790 align:start position:0% to get human rights abuse they out of China<00:00:46.600> around<00:00:46.879> 1997<00:00:47.879> or<00:00:48.440> 1998<00:00:49.440> heavily 00:00:49.790 --> 00:00:49.800 align:start position:0% China around 1997 or 1998 heavily 00:00:49.800 --> 00:00:52.270 align:start position:0% China around 1997 or 1998 heavily involved<00:00:50.120> in<00:00:50.239> the<00:00:50.320> eold<00:00:50.960> economy<00:00:51.960> uh<00:00:52.079> once 00:00:52.270 --> 00:00:52.280 align:start position:0% involved in the eold economy uh once 00:00:52.280 --> 00:00:54.750 align:start position:0% involved in the eold economy uh once upon<00:00:52.480> a<00:00:52.600> time<00:00:52.760> I<00:00:52.840> had<00:00:53.000> a<00:00:53.280> bearer<00:00:53.960> share<00:00:54.559> a 00:00:54.750 --> 00:00:54.760 align:start position:0% upon a time I had a bearer share a 00:00:54.760 --> 00:00:58.349 align:start position:0% upon a time I had a bearer share a pendon<00:00:55.359> general<00:00:55.719> ledger<00:00:56.160> based<00:00:56.719> stock<00:00:57.359> market 00:00:58.349 --> 00:00:58.359 align:start position:0% pendon general ledger based stock market 00:00:58.359 --> 00:01:00.349 align:start position:0% pendon general ledger based stock market uh<00:00:58.600> which<00:00:58.800> was<00:00:59.160> all<00:00:59.359> done<00:00:59.559> by<00:00:59.719> you<00:00:59.800> know<00:01:00.039> Pearl 00:01:00.349 --> 00:01:00.359 align:start position:0% uh which was all done by you know Pearl 00:01:00.359 --> 00:01:02.069 align:start position:0% uh which was all done by you know Pearl scripts<00:01:00.719> that<00:01:00.840> would<00:01:00.920> shell<00:01:01.199> out<00:01:01.320> to<00:01:01.480> gpg<00:01:01.920> to 00:01:02.069 --> 00:01:02.079 align:start position:0% scripts that would shell out to gpg to 00:01:02.079 --> 00:01:03.910 align:start position:0% scripts that would shell out to gpg to do<00:01:02.199> the<00:01:02.280> actual<00:01:02.559> encryption<00:01:03.280> multi-party 00:01:03.910 --> 00:01:03.920 align:start position:0% do the actual encryption multi-party 00:01:03.920 --> 00:01:06.350 align:start position:0% do the actual encryption multi-party computation<00:01:04.479> kind<00:01:04.600> of<00:01:04.920> stuff<00:01:05.920> uh<00:01:06.040> but<00:01:06.200> in 00:01:06.350 --> 00:01:06.360 align:start position:0% computation kind of stuff uh but in 00:01:06.360 --> 00:01:07.950 align:start position:0% computation kind of stuff uh but in those<00:01:06.560> days<00:01:06.720> there<00:01:06.840> was<00:01:06.960> no<00:01:07.119> decentralized 00:01:07.950 --> 00:01:07.960 align:start position:0% those days there was no decentralized 00:01:07.960 --> 00:01:09.590 align:start position:0% those days there was no decentralized hash<00:01:08.159> table<00:01:08.600> so<00:01:08.759> you<00:01:08.920> really<00:01:09.159> couldn't<00:01:09.439> push 00:01:09.590 --> 00:01:09.600 align:start position:0% hash table so you really couldn't push 00:01:09.600 --> 00:01:11.749 align:start position:0% hash table so you really couldn't push it<00:01:09.720> the<00:01:09.840> rest<00:01:10.000> of<00:01:10.119> the<00:01:10.240> way<00:01:10.920> I<00:01:11.000> think<00:01:11.119> even<00:01:11.400> hash 00:01:11.749 --> 00:01:11.759 align:start position:0% it the rest of the way I think even hash 00:01:11.759 --> 00:01:13.749 align:start position:0% it the rest of the way I think even hash cach<00:01:12.040> hadn't<00:01:12.240> been<00:01:12.400> invented<00:01:12.799> at<00:01:12.960> that<00:01:13.159> point 00:01:13.749 --> 00:01:13.759 align:start position:0% cach hadn't been invented at that point 00:01:13.759 --> 00:01:16.590 align:start position:0% cach hadn't been invented at that point you<00:01:13.880> know<00:01:14.439> there<00:01:14.560> was<00:01:14.720> a<00:01:15.280> period<00:01:15.640> of<00:01:15.840> my<00:01:16.119> life 00:01:16.590 --> 00:01:16.600 align:start position:0% you know there was a period of my life 00:01:16.600 --> 00:01:18.789 align:start position:0% you know there was a period of my life when<00:01:17.119> the<00:01:17.280> same<00:01:17.520> kind<00:01:17.640> of<00:01:17.880> optimism<00:01:18.600> and 00:01:18.789 --> 00:01:18.799 align:start position:0% when the same kind of optimism and 00:01:18.799 --> 00:01:20.789 align:start position:0% when the same kind of optimism and forward<00:01:19.360> thrust<00:01:19.920> that<00:01:20.000> you<00:01:20.119> now<00:01:20.360> associate 00:01:20.789 --> 00:01:20.799 align:start position:0% forward thrust that you now associate 00:01:20.799 --> 00:01:23.670 align:start position:0% forward thrust that you now associate with<00:01:20.960> the<00:01:21.240> blockchain<00:01:22.240> was<00:01:22.759> associated<00:01:23.439> with 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position:0% that asymmetric key he in the form of https<00:01:32.520> and<00:01:32.799> gpg<00:01:33.799> was<00:01:33.960> going<00:01:34.079> to<00:01:34.280> provide<00:01:34.520> us 00:01:34.670 --> 00:01:34.680 align:start position:0% https and gpg was going to provide us 00:01:34.680 --> 00:01:36.389 align:start position:0% https and gpg was going to provide us with<00:01:34.840> all<00:01:34.960> the<00:01:35.079> tools<00:01:35.360> that<00:01:35.479> we<00:01:35.600> needed<00:01:36.000> to 00:01:36.389 --> 00:01:36.399 align:start position:0% with all the tools that we needed to 00:01:36.399 --> 00:01:38.870 align:start position:0% with all the tools that we needed to completely<00:01:36.920> change<00:01:37.280> the<00:01:37.399> world<00:01:38.360> and<00:01:38.479> we<00:01:38.600> were 00:01:38.870 --> 00:01:38.880 align:start position:0% completely change the world and we were 00:01:38.880 --> 00:01:42.069 align:start position:0% completely change the world and we were entirely<00:01:39.520> confident<00:01:39.960> of<00:01:40.200> this<00:01:41.200> and<00:01:41.640> we<00:01:41.759> were 00:01:42.069 --> 00:01:42.079 align:start position:0% entirely confident of this and we were 00:01:42.079 --> 00:01:44.230 align:start position:0% entirely confident of this and we were absolutely<00:01:42.560> sure<00:01:42.840> that<00:01:42.960> it<00:01:43.079> was<00:01:43.200> a<00:01:43.399> dead<00:01:43.720> C 00:01:44.230 --> 00:01:44.240 align:start position:0% absolutely sure that it was a dead C 00:01:44.240 --> 00:01:45.429 align:start position:0% absolutely sure that it was a dead C that<00:01:44.360> you<00:01:44.439> were<00:01:44.560> going<00:01:44.640> to<00:01:44.759> see<00:01:44.960> this<00:01:45.159> spread 00:01:45.429 --> 00:01:45.439 align:start position:0% that you were going to see this spread 00:01:45.439 --> 00:01:47.990 align:start position:0% that you were going to see this spread of<00:01:45.560> Civilian<00:01:46.360> cryptography<00:01:47.360> and<00:01:47.640> that<00:01:47.880> you 00:01:47.990 --> 00:01:48.000 align:start position:0% of Civilian cryptography and that you 00:01:48.000 --> 00:01:49.270 align:start position:0% of Civilian cryptography and that you were<00:01:48.119> going<00:01:48.240> to<00:01:48.360> see<00:01:48.520> the<00:01:48.640> kind<00:01:48.759> of<00:01:48.880> cyphon 00:01:49.270 --> 00:01:49.280 align:start position:0% were going to see the kind of cyphon 00:01:49.280 --> 00:01:51.389 align:start position:0% were going to see the kind of cyphon Nomicon<00:01:49.799> vision<00:01:50.280> of<00:01:50.439> the<00:01:50.560> fading<00:01:50.920> away<00:01:51.119> of<00:01:51.240> the 00:01:51.389 --> 00:01:51.399 align:start position:0% Nomicon vision of the fading away of the 00:01:51.399 --> 00:01:54.230 align:start position:0% Nomicon vision of the fading away of the state<00:01:51.640> and<00:01:51.759> the<00:01:51.920> replacement<00:01:52.640> of<00:01:53.240> you<00:01:53.360> know<00:01:53.960> uh 00:01:54.230 --> 00:01:54.240 align:start position:0% state and the replacement of you know uh 00:01:54.240 --> 00:01:56.029 align:start position:0% state and the replacement of you know uh the<00:01:54.399> sort<00:01:54.560> of<00:01:54.799> government<00:01:55.159> run<00:01:55.439> domain<00:01:55.759> with<00:01:55.920> a 00:01:56.029 --> 00:01:56.039 align:start position:0% the sort of government run domain with a 00:01:56.039 --> 00:01:58.709 align:start position:0% the sort of government run domain with a citizen<00:01:56.399> run<00:01:56.680> domain<00:01:57.000> as<00:01:57.159> an<00:01:57.520> historical 00:01:58.709 --> 00:01:58.719 align:start position:0% citizen run domain as an historical 00:01:58.719 --> 00:02:01.350 align:start position:0% citizen run domain as an historical inevitability<00:01:59.719> um<00:01:59.960> and<00:02:00.680> that<00:02:00.920> period<00:02:01.200> of 00:02:01.350 --> 00:02:01.360 align:start position:0% inevitability um and that period of 00:02:01.360 --> 00:02:05.190 align:start position:0% inevitability um and that period of certainty<00:02:01.920> ran<00:02:02.719> right<00:02:03.000> up<00:02:03.200> until<00:02:03.600> about<00:02:04.200> 911 00:02:05.190 --> 00:02:05.200 align:start position:0% certainty ran right up until about 911 00:02:05.200 --> 00:02:07.069 align:start position:0% certainty ran right up until about 911 at<00:02:05.399> which<00:02:05.560> point<00:02:05.840> people<00:02:06.039> began<00:02:06.320> to<00:02:06.520> seriously 00:02:07.069 --> 00:02:07.079 align:start position:0% at which point people began to seriously 00:02:07.079 --> 00:02:09.630 align:start position:0% at which point people began to seriously question<00:02:07.560> viability<00:02:08.119> of<00:02:08.280> that<00:02:08.479> vision<00:02:09.399> and 00:02:09.630 --> 00:02:09.640 align:start position:0% question viability of that vision and 00:02:09.640 --> 00:02:12.030 align:start position:0% question viability of that vision and then<00:02:09.959> everything<00:02:10.239> kind<00:02:10.399> of<00:02:10.520> ground<00:02:10.840> to<00:02:11.000> a<00:02:11.160> halt 00:02:12.030 --> 00:02:12.040 align:start position:0% then everything kind of ground to a halt 00:02:12.040 --> 00:02:15.150 align:start position:0% then everything kind of ground to a halt really<00:02:12.480> until<00:02:13.480> Bitcoin<00:02:14.480> so<00:02:14.680> what<00:02:14.800> I<00:02:14.879> want<00:02:15.000> to 00:02:15.150 --> 00:02:15.160 align:start position:0% really until Bitcoin so what I want to 00:02:15.160 --> 00:02:17.830 align:start position:0% really until Bitcoin so what I want to talk<00:02:15.360> about<00:02:15.640> a<00:02:15.800> little<00:02:16.599> is<00:02:17.000> what<00:02:17.160> went<00:02:17.560> right 00:02:17.830 --> 00:02:17.840 align:start position:0% talk about a little is what went right 00:02:17.840 --> 00:02:20.509 align:start position:0% talk about a little is what went right and<00:02:18.080> what<00:02:18.239> went<00:02:18.560> wrong<00:02:19.120> in<00:02:19.280> the<00:02:19.400> '90s<00:02:19.720> crypto 00:02:20.509 --> 00:02:20.519 align:start position:0% and what went wrong in the '90s crypto 00:02:20.519 --> 00:02:23.390 align:start position:0% and what went wrong in the '90s crypto era<00:02:21.360> in<00:02:21.560> terms<00:02:21.920> of<00:02:22.200> the<00:02:22.440> psychology<00:02:23.080> and<00:02:23.200> the 00:02:23.390 --> 00:02:23.400 align:start position:0% era in terms of the psychology and the 00:02:23.400 --> 00:02:25.550 align:start position:0% era in terms of the psychology and the politics<00:02:23.879> of<00:02:24.000> the<00:02:24.120> crypto<00:02:24.519> community<00:02:25.400> and 00:02:25.550 --> 00:02:25.560 align:start position:0% politics of the crypto community and 00:02:25.560 --> 00:02:27.430 align:start position:0% politics of the crypto community and what<00:02:25.640> we<00:02:25.760> can<00:02:25.920> learn<00:02:26.360> from<00:02:26.640> that<00:02:26.879> about<00:02:27.160> what's 00:02:27.430 --> 00:02:27.440 align:start position:0% what we can learn from that about what's 00:02:27.440 --> 00:02:30.150 align:start position:0% what we can learn from that about what's working<00:02:27.800> with<00:02:28.160> ethereum<00:02:29.160> and<00:02:29.400> the<00:02:29.560> proc<00:02:29.879> C 00:02:30.150 --> 00:02:30.160 align:start position:0% working with ethereum and the proc C 00:02:30.160 --> 00:02:32.110 align:start position:0% working with ethereum and the proc C that<00:02:30.440> restarted<00:02:31.160> with 00:02:32.110 --> 00:02:32.120 align:start position:0% that restarted with 00:02:32.120 --> 00:02:34.229 align:start position:0% that restarted with Bitcoin<00:02:33.120> so<00:02:33.280> the<00:02:33.440> first<00:02:33.640> thing<00:02:33.800> that<00:02:33.920> I'd<00:02:34.080> like 00:02:34.229 --> 00:02:34.239 align:start position:0% Bitcoin so the first thing that I'd like 00:02:34.239 --> 00:02:36.270 align:start position:0% Bitcoin so the first thing that I'd like to<00:02:34.360> do<00:02:34.680> is<00:02:34.840> the<00:02:35.000> traditional<00:02:35.560> evil<00:02:35.800> show<00:02:36.080> of 00:02:36.270 --> 00:02:36.280 align:start position:0% to do is the traditional evil show of 00:02:36.280 --> 00:02:39.949 align:start position:0% to do is the traditional evil show of hands<00:02:37.280> how<00:02:37.440> many<00:02:37.680> people<00:02:38.040> encrypt<00:02:39.040> 100%<00:02:39.800> of 00:02:39.949 --> 00:02:39.959 align:start position:0% hands how many people encrypt 100% of 00:02:39.959 --> 00:02:43.030 align:start position:0% hands how many people encrypt 100% of their 00:02:43.030 --> 00:02:43.040 align:start position:0% 00:02:43.040 --> 00:02:46.589 align:start position:0% email<00:02:44.040> okay<00:02:45.040> how<00:02:45.200> many<00:02:45.760> people<00:02:46.000> people<00:02:46.360> people 00:02:46.589 --> 00:02:46.599 align:start position:0% email okay how many people people people 00:02:46.599 --> 00:02:50.070 align:start position:0% email okay how many people people people could<00:02:47.360> uh<00:02:47.519> encrypt<00:02:48.080> five<00:02:48.319> or<00:02:48.519> 10%<00:02:49.159> of<00:02:49.280> their 00:02:50.070 --> 00:02:50.080 align:start position:0% could uh encrypt five or 10% of their 00:02:50.080 --> 00:02:52.430 align:start position:0% could uh encrypt five or 10% of their email<00:02:51.080> right<00:02:51.560> thank<00:02:51.760> you<00:02:51.879> for<00:02:52.080> helping 00:02:52.430 --> 00:02:52.440 align:start position:0% email right thank you for helping 00:02:52.440 --> 00:02:55.710 align:start position:0% email right thank you for helping traffic<00:02:53.040> analysis<00:02:54.040> so<00:02:54.920> the<00:02:55.080> fact<00:02:55.280> that<00:02:55.480> even 00:02:55.710 --> 00:02:55.720 align:start position:0% traffic analysis so the fact that even 00:02:55.720 --> 00:02:58.869 align:start position:0% traffic analysis so the fact that even at<00:02:55.920> this<00:02:56.080> point<00:02:56.280> in<00:02:56.680> history<00:02:57.680> 25<00:02:58.319> years<00:02:58.640> after 00:02:58.869 --> 00:02:58.879 align:start position:0% at this point in history 25 years after 00:02:58.879 --> 00:03:00.430 align:start position:0% at this point in history 25 years after the<00:02:59.000> invention<00:02:59.440> or<00:02:59.560> the<00:02:59.840> leaking<00:03:00.080> of<00:03:00.239> these 00:03:00.430 --> 00:03:00.440 align:start position:0% the invention or the leaking of these 00:03:00.440 --> 00:03:02.630 align:start position:0% the invention or the leaking of these codes<00:03:01.280> we<00:03:01.440> still<00:03:01.720> have<00:03:01.840> a<00:03:02.000> position<00:03:02.319> in<00:03:02.480> which 00:03:02.630 --> 00:03:02.640 align:start position:0% codes we still have a position in which 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encrypted<00:03:11.200> and<00:03:11.319> if<00:03:11.440> you're 00:03:11.630 --> 00:03:11.640 align:start position:0% getting things encrypted and if you're 00:03:11.640 --> 00:03:13.350 align:start position:0% getting things encrypted and if you're not<00:03:11.879> getting<00:03:12.120> the<00:03:12.280> stuff<00:03:12.480> encrypted<00:03:12.959> given 00:03:13.350 --> 00:03:13.360 align:start position:0% not getting the stuff encrypted given 00:03:13.360 --> 00:03:15.589 align:start position:0% not getting the stuff encrypted given everything<00:03:13.640> we<00:03:13.760> know<00:03:13.920> from<00:03:14.360> Snowden<00:03:15.360> uh 00:03:15.589 --> 00:03:15.599 align:start position:0% everything we know from Snowden uh 00:03:15.599 --> 00:03:17.789 align:start position:0% everything we know from Snowden uh you're<00:03:16.239> in<00:03:16.360> a<00:03:16.599> very<00:03:16.840> direct<00:03:17.200> sense<00:03:17.440> feeding 00:03:17.789 --> 00:03:17.799 align:start position:0% you're in a very direct sense feeding 00:03:17.799 --> 00:03:19.470 align:start position:0% you're in a very direct sense feeding the<00:03:17.920> beast<00:03:18.319> in<00:03:18.400> a<00:03:18.519> manner<00:03:18.840> that<00:03:18.959> it's<00:03:19.200> as 00:03:19.470 --> 00:03:19.480 align:start position:0% the beast in a manner that it's as 00:03:19.480 --> 00:03:22.630 align:start position:0% the beast in a manner that it's as direct<00:03:20.000> as<00:03:20.239> taxation<00:03:20.799> is<00:03:21.799> right<00:03:22.080> we're<00:03:22.319> in<00:03:22.440> a 00:03:22.630 --> 00:03:22.640 align:start position:0% direct as taxation is right we're in a 00:03:22.640 --> 00:03:24.309 align:start position:0% direct as taxation is right we're in a position<00:03:23.000> where<00:03:23.159> we<00:03:23.360> failed<00:03:23.680> to<00:03:23.840> deploy<00:03:24.159> even 00:03:24.309 --> 00:03:24.319 align:start position:0% position where we failed to deploy even 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but<00:03:31.560> the 00:03:31.670 --> 00:03:31.680 align:start position:0% this that and the next thing but the 00:03:31.680 --> 00:03:33.390 align:start position:0% this that and the next thing but the bottom<00:03:31.920> line<00:03:32.159> is<00:03:32.280> it's<00:03:32.519> lack<00:03:32.720> of<00:03:32.920> investment 00:03:33.390 --> 00:03:33.400 align:start position:0% bottom line is it's lack of investment 00:03:33.400 --> 00:03:36.550 align:start position:0% bottom line is it's lack of investment in<00:03:33.599> public<00:03:34.159> goods<00:03:35.159> and<00:03:35.280> this<00:03:35.400> is<00:03:35.599> the<00:03:35.840> first 00:03:36.550 --> 00:03:36.560 align:start position:0% in public goods and this is the first 00:03:36.560 --> 00:03:39.030 align:start position:0% in public goods and this is the first kind<00:03:36.680> of<00:03:36.959> platform<00:03:37.760> problem<00:03:38.400> that<00:03:38.519> 90s 00:03:39.030 --> 00:03:39.040 align:start position:0% kind of platform problem that 90s 00:03:39.040 --> 00:03:41.630 align:start position:0% kind of platform problem that 90s vintage<00:03:39.439> Cypher<00:03:39.879> Punk<00:03:40.200> hit<00:03:40.959> which<00:03:41.080> is<00:03:41.280> we<00:03:41.400> had 00:03:41.630 --> 00:03:41.640 align:start position:0% vintage Cypher Punk hit which is we had 00:03:41.640 --> 00:03:44.470 align:start position:0% vintage Cypher Punk hit which is we had no<00:03:42.000> really<00:03:42.360> clear<00:03:42.720> model<00:03:43.519> of<00:03:43.799> how<00:03:44.040> one<00:03:44.239> would 00:03:44.470 --> 00:03:44.480 align:start position:0% no really clear model of how one would 00:03:44.480 --> 00:03:48.229 align:start position:0% no really clear model of how one would do<00:03:44.959> investment<00:03:45.519> in<00:03:45.799> public<00:03:46.200> goods<00:03:47.200> inside<00:03:47.920> of 00:03:48.229 --> 00:03:48.239 align:start position:0% do investment in public goods inside of 00:03:48.239 --> 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and that us was the cipher Punk 00:03:55.799 --> 00:03:57.910 align:start position:0% an us and that us was the cipher Punk movement<00:03:56.519> the<00:03:56.640> cipher<00:03:56.959> punks<00:03:57.200> had<00:03:57.400> no<00:03:57.640> model 00:03:57.910 --> 00:03:57.920 align:start position:0% movement the cipher punks had no model 00:03:57.920 --> 00:04:00.110 align:start position:0% movement the cipher punks had no model of<00:03:58.040> how<00:03:58.159> you<00:03:58.280> funded<00:03:58.720> Public<00:03:59.040> Works<00:03:59.840> because 00:04:00.110 --> 00:04:00.120 align:start position:0% of how you funded Public Works because 00:04:00.120 --> 00:04:01.869 align:start position:0% of how you funded Public Works because the<00:04:00.239> only<00:04:00.439> thing<00:04:00.599> that<00:04:00.680> you<00:04:00.799> could<00:04:01.000> really<00:04:01.280> do 00:04:01.869 --> 00:04:01.879 align:start position:0% the only thing that you could really do 00:04:01.879 --> 00:04:04.350 align:start position:0% the only thing that you could really do at<00:04:02.120> the<00:04:02.280> limit<00:04:02.599> of<00:04:02.840> possibility<00:04:03.799> was<00:04:04.040> put<00:04:04.200> all 00:04:04.350 --> 00:04:04.360 align:start position:0% at the limit of possibility was put all 00:04:04.360 --> 00:04:05.910 align:start position:0% at the limit of possibility was put all of<00:04:04.439> your<00:04:04.560> money<00:04:04.799> into<00:04:04.959> an<00:04:05.079> eold<00:04:05.560> account<00:04:05.799> and 00:04:05.910 --> 00:04:05.920 align:start position:0% of your money into an eold account and 00:04:05.920 --> 00:04:07.350 align:start position:0% of your money into an eold account and Trust<00:04:06.200> the<00:04:06.319> person<00:04:06.519> running<00:04:06.799> the<00:04:06.879> eold 00:04:07.350 --> 00:04:07.360 align:start position:0% Trust the person running the eold 00:04:07.360 --> 00:04:09.309 align:start position:0% Trust the person running the eold account<00:04:08.000> not<00:04:08.159> to<00:04:08.319> immigrate<00:04:08.680> to<00:04:08.799> Bolivia<00:04:09.200> with 00:04:09.309 --> 00:04:09.319 align:start position:0% account not to immigrate to Bolivia with 00:04:09.319 --> 00:04:09.990 align:start position:0% account not to immigrate to Bolivia with the 00:04:09.990 --> 00:04:10.000 align:start position:0% the 00:04:10.000 --> 00:04:12.949 align:start position:0% the proceeds<00:04:11.000> so<00:04:11.519> if<00:04:11.599> you<00:04:11.799> can't<00:04:12.120> fund<00:04:12.599> Public 00:04:12.949 --> 00:04:12.959 align:start position:0% proceeds so if you can't fund Public 00:04:12.959 --> 00:04:15.670 align:start position:0% proceeds so if you can't fund Public Works<00:04:13.360> in<00:04:13.480> a<00:04:13.760> collaborative<00:04:14.480> way<00:04:15.120> it's<00:04:15.319> almost 00:04:15.670 --> 00:04:15.680 align:start position:0% Works in a collaborative way it's almost 00:04:15.680 --> 00:04:17.310 align:start position:0% Works in a collaborative way it's almost impossible<00:04:16.160> to<00:04:16.320> build 00:04:17.310 --> 00:04:17.320 align:start position:0% impossible to build 00:04:17.320 --> 00:04:19.590 align:start position:0% impossible to build infrastructure<00:04:18.320> uh<00:04:18.799> because<00:04:19.000> you<00:04:19.160> just<00:04:19.320> can't 00:04:19.590 --> 00:04:19.600 align:start position:0% infrastructure uh because you just can't 00:04:19.600 --> 00:04:21.710 align:start position:0% infrastructure uh because you just can't pull<00:04:19.959> enough<00:04:20.199> money<00:04:20.959> and<00:04:21.120> if<00:04:21.199> you've<00:04:21.440> got<00:04:21.560> to 00:04:21.710 --> 00:04:21.720 align:start position:0% pull enough money and if you've got to 00:04:21.720 --> 00:04:25.110 align:start position:0% pull enough money and if you've got to rely<00:04:22.280> on<00:04:22.639> state<00:04:23.040> functions<00:04:23.479> like<00:04:23.759> charity<00:04:24.759> to 00:04:25.110 --> 00:04:25.120 align:start position:0% rely on state functions like charity to 00:04:25.120 --> 00:04:26.790 align:start position:0% rely on state functions like charity to build<00:04:25.520> something<00:04:25.800> that<00:04:25.960> has<00:04:26.080> the<00:04:26.199> ability<00:04:26.560> to 00:04:26.790 --> 00:04:26.800 align:start position:0% build something that has the ability to 00:04:26.800 --> 00:04:29.110 align:start position:0% build something that has the ability to accept<00:04:27.240> those<00:04:27.440> funds<00:04:28.160> you<00:04:28.320> wind<00:04:28.560> up<00:04:28.759> inside<00:04:29.000> of 00:04:29.110 --> 00:04:29.120 align:start position:0% accept those funds you wind up inside of 00:04:29.120 --> 00:04:30.670 align:start position:0% accept those funds you wind up inside of a<00:04:29.240> regulatory<00:04:29.880> environment<00:04:30.280> that<00:04:30.400> can<00:04:30.520> be 00:04:30.670 --> 00:04:30.680 align:start position:0% a regulatory environment that can be 00:04:30.680 --> 00:04:32.110 align:start position:0% a regulatory environment that can be very<00:04:30.919> hostile<00:04:31.280> to<00:04:31.440> the<00:04:31.520> kinds<00:04:31.720> of<00:04:31.840> things<00:04:31.960> that 00:04:32.110 --> 00:04:32.120 align:start position:0% very hostile to the kinds of things that 00:04:32.120 --> 00:04:33.189 align:start position:0% very hostile to the kinds of things that people<00:04:32.320> want<00:04:32.479> to 00:04:33.189 --> 00:04:33.199 align:start position:0% people want to 00:04:33.199 --> 00:04:37.390 align:start position:0% people want to build<00:04:34.199> and<00:04:34.639> the<00:04:34.800> sort<00:04:34.960> of<00:04:35.360> platform<00:04:36.160> nature<00:04:36.960> of 00:04:37.390 --> 00:04:37.400 align:start position:0% build and the sort of platform nature of 00:04:37.400 --> 00:04:39.310 align:start position:0% build and the sort of platform nature of large<00:04:37.880> scale<00:04:38.199> software<00:04:38.639> engineering<00:04:39.199> where 00:04:39.310 --> 00:04:39.320 align:start position:0% large scale software engineering where 00:04:39.320 --> 00:04:41.189 align:start position:0% large scale software engineering where you<00:04:39.440> need<00:04:40.000> a<00:04:40.160> lot<00:04:40.320> of<00:04:40.479> people<00:04:40.759> working 00:04:41.189 --> 00:04:41.199 align:start position:0% you need a lot of people working 00:04:41.199 --> 00:04:43.390 align:start position:0% you need a lot of people working together<00:04:41.479> for<00:04:41.639> a<00:04:41.800> long<00:04:42.199> time<00:04:42.960> before<00:04:43.280> you 00:04:43.390 --> 00:04:43.400 align:start position:0% together for a long time before you 00:04:43.400 --> 00:04:45.029 align:start position:0% together for a long time before you could<00:04:43.639> get<00:04:43.919> the<00:04:44.080> kind<00:04:44.199> of<00:04:44.360> breakthroughs<00:04:44.840> and 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jobs uh<00:04:59.120> you<00:04:59.240> also<00:04:59.520> the<00:04:59.759> stuff<00:05:00.000> recently<00:05:00.520> about<00:05:01.080> was 00:05:01.230 --> 00:05:01.240 align:start position:0% uh you also the stuff recently about was 00:05:01.240 --> 00:05:03.430 align:start position:0% uh you also the stuff recently about was it<00:05:01.400> op<00:05:01.680> SSL<00:05:02.360> that<00:05:02.479> had<00:05:02.639> been<00:05:02.759> on<00:05:03.000> half<00:05:03.199> a 00:05:03.430 --> 00:05:03.440 align:start position:0% it op SSL that had been on half a 00:05:03.440 --> 00:05:05.749 align:start position:0% it op SSL that had been on half a programmer<00:05:04.360> for<00:05:04.680> years<00:05:05.039> and<00:05:05.199> was<00:05:05.320> riddled 00:05:05.749 --> 00:05:05.759 align:start position:0% programmer for years and was riddled 00:05:05.759 --> 00:05:08.310 align:start position:0% programmer for years and was riddled with<00:05:05.919> bugs<00:05:06.840> and<00:05:07.120> gpg<00:05:07.720> was<00:05:07.800> in<00:05:07.960> roughly<00:05:08.240> the 00:05:08.310 --> 00:05:08.320 align:start position:0% with bugs and gpg was in roughly the 00:05:08.320 --> 00:05:10.590 align:start position:0% with bugs and gpg was in roughly the same<00:05:08.759> condition<00:05:09.759> this<00:05:09.880> is<00:05:10.000> what<00:05:10.120> I<00:05:10.199> mean<00:05:10.360> about 00:05:10.590 --> 00:05:10.600 align:start position:0% same condition this is what I mean about 00:05:10.600 --> 00:05:12.310 align:start position:0% same condition this is what I mean about the<00:05:10.720> failure<00:05:11.080> to<00:05:11.199> be<00:05:11.320> able<00:05:11.479> to<00:05:11.639> do<00:05:11.960> public 00:05:12.310 --> 00:05:12.320 align:start position:0% the failure to be able to do public 00:05:12.320 --> 00:05:14.469 align:start position:0% the failure to be able to do public works<00:05:13.160> because<00:05:13.400> you<00:05:13.560> just<00:05:13.759> can't<00:05:14.039> get<00:05:14.240> enough 00:05:14.469 --> 00:05:14.479 align:start position:0% works because you just can't get enough 00:05:14.479 --> 00:05:15.990 align:start position:0% works because you just can't get enough people<00:05:14.840> together<00:05:15.080> to<00:05:15.199> work<00:05:15.400> on<00:05:15.520> it<00:05:15.680> for<00:05:15.800> long 00:05:15.990 --> 00:05:16.000 align:start position:0% people together to work on it for long 00:05:16.000 --> 00:05:18.150 align:start position:0% people together to work on it for long enough<00:05:16.560> mail<00:05:16.960> pile<00:05:17.280> was<00:05:17.400> the<00:05:17.560> most<00:05:17.759> recent 00:05:18.150 --> 00:05:18.160 align:start position:0% enough mail pile was the most recent 00:05:18.160 --> 00:05:20.749 align:start position:0% enough mail pile was the most recent major<00:05:18.560> effort<00:05:18.840> to<00:05:18.960> get<00:05:19.080> a<00:05:19.199> shot<00:05:19.600> at<00:05:20.120> long-term 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align:start position:0% easy to use so we could get mass adopter 00:05:27.160 --> 00:05:29.390 align:start position:0% easy to use so we could get mass adopter of<00:05:27.280> encryption<00:05:28.280> didn't<00:05:28.560> manage<00:05:28.880> to<00:05:29.039> get<00:05:29.240> that 00:05:29.390 --> 00:05:29.400 align:start position:0% of encryption didn't manage to get that 00:05:29.400 --> 00:05:31.629 align:start position:0% of encryption didn't manage to get that done<00:05:29.960> because<00:05:30.680> they<00:05:30.800> could<00:05:30.960> raise<00:05:31.240> money<00:05:31.479> at 00:05:31.629 --> 00:05:31.639 align:start position:0% done because they could raise money at 00:05:31.639 --> 00:05:33.710 align:start position:0% done because they could raise money at the<00:05:31.720> beginning<00:05:32.000> of<00:05:32.120> a<00:05:32.280> project<00:05:32.560> in<00:05:32.720> a<00:05:32.919> spike 00:05:33.710 --> 00:05:33.720 align:start position:0% the beginning of a project in a spike 00:05:33.720 --> 00:05:35.189 align:start position:0% the beginning of a project in a spike but<00:05:33.880> then<00:05:34.080> after<00:05:34.360> that<00:05:34.520> you<00:05:34.639> get<00:05:34.759> a<00:05:34.880> kind<00:05:34.960> of 00:05:35.189 --> 00:05:35.199 align:start position:0% but then after that you get a kind of 00:05:35.199 --> 00:05:37.710 align:start position:0% but then after that you get a kind of ASM<00:05:35.520> totic<00:05:35.840> decay<00:05:36.160> of<00:05:36.280> the<00:05:36.400> donations<00:05:37.400> and<00:05:37.479> if 00:05:37.710 --> 00:05:37.720 align:start position:0% ASM totic decay of the donations and if 00:05:37.720 --> 00:05:40.189 align:start position:0% ASM totic decay of the donations and if that<00:05:37.880> long<00:05:38.199> tail<00:05:38.560> doesn't<00:05:38.960> happen<00:05:39.919> uh<00:05:40.000> if<00:05:40.120> the 00:05:40.189 --> 00:05:40.199 align:start position:0% that long tail doesn't happen uh if the 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position:0% longer have uh full heavy engineering to do<00:05:46.880> you<00:05:47.000> could<00:05:47.120> go<00:05:47.240> into<00:05:47.479> maintenance<00:05:47.960> mode 00:05:48.510 --> 00:05:48.520 align:start position:0% do you could go into maintenance mode 00:05:48.520 --> 00:05:49.790 align:start position:0% do you could go into maintenance mode but<00:05:48.639> if<00:05:48.720> the<00:05:48.840> heavy<00:05:49.080> engineering<00:05:49.560> isn't 00:05:49.790 --> 00:05:49.800 align:start position:0% but if the heavy engineering isn't 00:05:49.800 --> 00:05:52.150 align:start position:0% but if the heavy engineering isn't finished<00:05:50.120> then<00:05:50.280> the<00:05:50.400> project<00:05:51.000> starts<00:05:52.000> how 00:05:52.150 --> 00:05:52.160 align:start position:0% finished then the project starts how 00:05:52.160 --> 00:05:54.870 align:start position:0% finished then the project starts how many<00:05:52.720> half<00:05:53.160> complete<00:05:53.800> really<00:05:54.080> clever<00:05:54.440> crypto 00:05:54.870 --> 00:05:54.880 align:start position:0% many half complete really clever crypto 00:05:54.880 --> 00:05:56.309 align:start position:0% many half complete really clever crypto projects<00:05:55.199> are<00:05:55.400> there<00:05:55.560> in<00:05:55.680> the 00:05:56.309 --> 00:05:56.319 align:start position:0% projects are there in the 00:05:56.319 --> 00:05:59.710 align:start position:0% projects are there in the world<00:05:57.560> 60<00:05:58.560> if<00:05:58.639> you<00:05:58.960> talk<00:05:59.080> to<00:05:59.199> the<00:05:59.280> red<00:05:59.639> de 00:05:59.710 --> 00:05:59.720 align:start position:0% world 60 if you talk to the red de 00:05:59.720 --> 00:06:01.110 align:start position:0% world 60 if you talk to the red de centralized<00:06:00.240> people<00:06:00.720> they<00:06:00.840> have<00:06:00.960> an 00:06:01.110 --> 00:06:01.120 align:start position:0% centralized people they have an 00:06:01.120 --> 00:06:03.189 align:start position:0% centralized people they have an enormously<00:06:01.800> long<00:06:02.080> list<00:06:02.319> of<00:06:02.560> half<00:06:02.880> complete 00:06:03.189 --> 00:06:03.199 align:start position:0% enormously long list of half complete 00:06:03.199 --> 00:06:04.909 align:start position:0% enormously long list of half complete cryptography<00:06:03.960> projects<00:06:04.680> that<00:06:04.800> they're 00:06:04.909 --> 00:06:04.919 align:start position:0% cryptography projects that they're 00:06:04.919 --> 00:06:06.870 align:start position:0% cryptography projects that they're trying<00:06:05.120> to<00:06:05.199> figure<00:06:05.400> out<00:06:05.520> how<00:06:05.639> to<00:06:05.759> get<00:06:05.919> finished 00:06:06.870 --> 00:06:06.880 align:start position:0% trying to figure out how to get finished 00:06:06.880 --> 00:06:08.749 align:start position:0% trying to figure out how to get finished so<00:06:07.039> this<00:06:07.160> is<00:06:07.280> the<00:06:07.400> first<00:06:07.880> large<00:06:08.240> failure<00:06:08.599> of 00:06:08.749 --> 00:06:08.759 align:start position:0% so this is the first large failure of 00:06:08.759 --> 00:06:10.790 align:start position:0% so this is the first large failure of Cipher<00:06:09.160> pank<00:06:09.800> that<00:06:09.919> we<00:06:10.039> didn't<00:06:10.360> manage<00:06:10.639> to 00:06:10.790 --> 00:06:10.800 align:start position:0% Cipher pank that we didn't manage to 00:06:10.800 --> 00:06:12.749 align:start position:0% Cipher pank that we didn't manage to sort<00:06:11.120> out<00:06:11.479> which<00:06:11.599> was<00:06:11.800> we<00:06:12.000> didn't<00:06:12.280> manage<00:06:12.599> to 00:06:12.749 --> 00:06:12.759 align:start position:0% sort out which was we didn't manage to 00:06:12.759 --> 00:06:14.950 align:start position:0% sort out which was we didn't manage to do<00:06:13.479> sufficiently<00:06:14.039> heavyweight<00:06:14.479> funding<00:06:14.759> of 00:06:14.950 --> 00:06:14.960 align:start position:0% do sufficiently heavyweight funding of 00:06:14.960 --> 00:06:17.110 align:start position:0% do sufficiently heavyweight funding of Public<00:06:15.240> Works<00:06:16.199> and<00:06:16.440> we<00:06:16.599> didn't<00:06:16.840> keep<00:06:17.000> the 00:06:17.110 --> 00:06:17.120 align:start position:0% Public Works and we didn't keep the 00:06:17.120 --> 00:06:19.589 align:start position:0% Public Works and we didn't keep the money<00:06:17.360> flowing<00:06:17.840> in<00:06:18.479> after<00:06:18.800> the<00:06:18.960> initial<00:06:19.280> push 00:06:19.589 --> 00:06:19.599 align:start position:0% money flowing in after the initial push 00:06:19.599 --> 00:06:22.070 align:start position:0% money flowing in after the initial push was<00:06:19.840> made<00:06:20.800> which<00:06:20.960> results<00:06:21.319> in<00:06:21.520> projects<00:06:21.880> going 00:06:22.070 --> 00:06:22.080 align:start position:0% was made which results in projects going 00:06:22.080 --> 00:06:23.309 align:start position:0% was made which results in projects going into<00:06:22.319> maintenance<00:06:22.759> mode<00:06:22.960> and<00:06:23.080> then<00:06:23.199> get 00:06:23.309 --> 00:06:23.319 align:start position:0% into maintenance mode and then get 00:06:23.319 --> 00:06:25.309 align:start position:0% into maintenance mode and then get walking<00:06:23.840> getting<00:06:24.039> locked<00:06:24.319> into<00:06:24.520> this<00:06:24.680> kind<00:06:24.800> of 00:06:25.309 --> 00:06:25.319 align:start position:0% walking getting locked into this kind of 00:06:25.319 --> 00:06:27.469 align:start position:0% walking getting locked into this kind of long<00:06:25.720> slow<00:06:26.120> decline<00:06:26.520> as<00:06:26.680> the<00:06:26.800> donations<00:06:27.240> begin 00:06:27.469 --> 00:06:27.479 align:start position:0% long slow decline as the donations begin 00:06:27.479 --> 00:06:30.270 align:start position:0% long slow decline as the donations begin to<00:06:27.960> decrease<00:06:28.960> now<00:06:29.120> of<00:06:29.240> course<00:06:29.720> the<00:06:29.880> classical 00:06:30.270 --> 00:06:30.280 align:start position:0% to decrease now of course the classical 00:06:30.280 --> 00:06:31.790 align:start position:0% to decrease now of course the classical way<00:06:30.400> that<00:06:30.599> governments<00:06:31.039> solve<00:06:31.360> that<00:06:31.560> problem 00:06:31.790 --> 00:06:31.800 align:start position:0% way that governments solve that problem 00:06:31.800 --> 00:06:34.670 align:start position:0% way that governments solve that problem is<00:06:31.960> through<00:06:32.560> taxation<00:06:33.560> but<00:06:33.720> for<00:06:33.960> us<00:06:34.240> it<00:06:34.400> has<00:06:34.560> to 00:06:34.670 --> 00:06:34.680 align:start position:0% is through taxation but for us it has to 00:06:34.680 --> 00:06:37.830 align:start position:0% is through taxation but for us it has to be<00:06:34.800> solved<00:06:35.199> through<00:06:35.440> ongoing<00:06:36.039> donation<00:06:37.039> so 00:06:37.830 --> 00:06:37.840 align:start position:0% be solved through ongoing donation so 00:06:37.840 --> 00:06:39.710 align:start position:0% be solved through ongoing donation so projects<00:06:38.160> like<00:06:38.360> ethereum<00:06:38.840> we've<00:06:39.039> already 00:06:39.710 --> 00:06:39.720 align:start position:0% projects like ethereum we've already 00:06:39.720 --> 00:06:41.790 align:start position:0% projects like ethereum we've already established<00:06:40.199> a<00:06:40.319> pretty<00:06:40.560> good<00:06:40.759> model<00:06:41.360> for<00:06:41.639> the 00:06:41.790 --> 00:06:41.800 align:start position:0% established a pretty good model for the 00:06:41.800 --> 00:06:44.150 align:start position:0% established a pretty good model for the initial<00:06:42.319> cash<00:06:42.639> dump<00:06:43.039> that<00:06:43.160> gets<00:06:43.400> the<00:06:43.560> project 00:06:44.150 --> 00:06:44.160 align:start position:0% initial cash dump that gets the project 00:06:44.160 --> 00:06:46.469 align:start position:0% initial cash dump that gets the project started<00:06:45.160> but<00:06:45.560> you'll<00:06:45.800> always<00:06:46.080> have<00:06:46.280> this 00:06:46.469 --> 00:06:46.479 align:start position:0% started but you'll always have this 00:06:46.479 --> 00:06:48.430 align:start position:0% started but you'll always have this problem<00:06:46.880> that<00:06:47.280> continuing<00:06:47.759> to<00:06:47.880> raise<00:06:48.160> funds 00:06:48.430 --> 00:06:48.440 align:start position:0% problem that continuing to raise funds 00:06:48.440 --> 00:06:50.350 align:start position:0% problem that continuing to raise funds is<00:06:48.880> difficult<00:06:49.400> so<00:06:49.599> one<00:06:49.680> of<00:06:49.800> the<00:06:49.880> things<00:06:50.160> I<00:06:50.240> want 00:06:50.350 --> 00:06:50.360 align:start position:0% is difficult so one of the things I want 00:06:50.360 --> 00:06:52.830 align:start position:0% is difficult so one of the things I want to<00:06:50.479> suggest<00:06:50.800> as<00:06:50.919> a<00:06:51.120> key<00:06:51.440> challenge<00:06:52.400> is<00:06:52.560> how<00:06:52.680> do 00:06:52.830 --> 00:06:52.840 align:start position:0% to suggest as a key challenge is how do 00:06:52.840 --> 00:06:55.230 align:start position:0% to suggest as a key challenge is how do we<00:06:53.000> make<00:06:53.199> sure<00:06:54.000> that<00:06:54.120> you<00:06:54.240> have<00:06:54.360> an<00:06:54.599> ongoing 00:06:55.230 --> 00:06:55.240 align:start position:0% we make sure that you have an ongoing 00:06:55.240 --> 00:06:58.270 align:start position:0% we make sure that you have an ongoing funding<00:06:55.720> stream<00:06:56.599> which<00:06:56.720> is<00:06:56.960> funneled<00:06:57.560> into<00:06:58.080> a 00:06:58.270 --> 00:06:58.280 align:start position:0% funding stream which is funneled into a 00:06:58.280 --> 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doing<00:07:05.960> is<00:07:06.080> funding<00:07:06.520> Public<00:07:06.800> Works<00:07:07.080> to<00:07:07.199> create 00:07:07.430 --> 00:07:07.440 align:start position:0% doing is funding Public Works to create 00:07:07.440 --> 00:07:09.550 align:start position:0% doing is funding Public Works to create a<00:07:07.560> new<00:07:07.759> world<00:07:08.520> and<00:07:08.639> what<00:07:08.759> I'm<00:07:08.919> suggesting<00:07:09.400> here 00:07:09.550 --> 00:07:09.560 align:start position:0% a new world and what I'm suggesting here 00:07:09.560 --> 00:07:11.670 align:start position:0% a new world and what I'm suggesting here is<00:07:09.759> essentially<00:07:10.639> that<00:07:10.759> for<00:07:10.919> the<00:07:11.039> cipher<00:07:11.400> bankk 00:07:11.670 --> 00:07:11.680 align:start position:0% is essentially that for the cipher bankk 00:07:11.680 --> 00:07:13.790 align:start position:0% is essentially that for the cipher bankk movement<00:07:12.000> to<00:07:12.240> succeed<00:07:13.039> what<00:07:13.160> we<00:07:13.280> needed<00:07:13.599> was 00:07:13.790 --> 00:07:13.800 align:start position:0% movement to succeed what we needed was 00:07:13.800 --> 00:07:16.710 align:start position:0% movement to succeed what we needed was voluntarist<00:07:14.879> taxation<00:07:15.879> we<00:07:16.039> needed<00:07:16.360> people<00:07:16.560> to 00:07:16.710 --> 00:07:16.720 align:start position:0% voluntarist taxation we needed people to 00:07:16.720 --> 00:07:18.350 align:start position:0% voluntarist taxation we needed people to put<00:07:16.960> you<00:07:17.039> know<00:07:17.199> a<00:07:17.400> tithe<00:07:17.680> of<00:07:17.800> their<00:07:18.000> income 00:07:18.350 --> 00:07:18.360 align:start position:0% put you know a tithe of their income 00:07:18.360 --> 00:07:21.350 align:start position:0% put you know a tithe of their income maybe<00:07:18.639> 10%<00:07:19.639> as<00:07:19.800> an<00:07:20.080> allocated<00:07:20.840> pre-ordained 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you don't make those kind of 00:07:27.800 --> 00:07:30.390 align:start position:0% that if you don't make those kind of long-term<00:07:28.520> structural<00:07:29.039> funding<00:07:29.599> decisions 00:07:30.390 --> 00:07:30.400 align:start position:0% long-term structural funding decisions 00:07:30.400 --> 00:07:31.830 align:start position:0% long-term structural funding decisions you<00:07:30.560> wind<00:07:30.800> up<00:07:30.960> in<00:07:31.039> a<00:07:31.199> position<00:07:31.560> where<00:07:31.759> the 00:07:31.830 --> 00:07:31.840 align:start position:0% you wind up in a position where the 00:07:31.840 --> 00:07:33.510 align:start position:0% you wind up in a position where the tools<00:07:32.240> get<00:07:32.440> built<00:07:32.800> and<00:07:32.919> then<00:07:33.039> they<00:07:33.120> don't<00:07:33.360> get 00:07:33.510 --> 00:07:33.520 align:start position:0% tools get built and then they don't get 00:07:33.520 --> 00:07:35.309 align:start position:0% tools get built and then they don't get maintained<00:07:34.400> and<00:07:34.520> if<00:07:34.639> there's<00:07:34.840> a<00:07:34.960> bit<00:07:35.080> of<00:07:35.160> an 00:07:35.309 --> 00:07:35.319 align:start position:0% maintained and if there's a bit of an 00:07:35.319 --> 00:07:37.869 align:start position:0% maintained and if there's a bit of an overrun<00:07:36.000> you<00:07:36.160> end<00:07:36.360> up<00:07:36.479> without<00:07:36.680> the<00:07:36.759> tools<00:07:37.039> at 00:07:37.869 --> 00:07:37.879 align:start position:0% overrun you end up without the tools at 00:07:37.879 --> 00:07:41.150 align:start position:0% overrun you end up without the tools at all<00:07:38.879> obviously<00:07:39.680> ethereum<00:07:40.160> is<00:07:40.240> in<00:07:40.360> a<00:07:40.560> position 00:07:41.150 --> 00:07:41.160 align:start position:0% all obviously ethereum is in a position 00:07:41.160 --> 00:07:43.230 align:start position:0% all obviously ethereum is in a position where<00:07:41.560> we<00:07:41.720> did<00:07:41.919> a<00:07:42.120> very<00:07:42.360> large<00:07:42.680> range 00:07:43.230 --> 00:07:43.240 align:start position:0% where we did a very large range 00:07:43.240 --> 00:07:45.270 align:start position:0% where we did a very large range initially<00:07:44.000> and<00:07:44.159> have<00:07:44.280> shipped<00:07:44.639> an<00:07:44.800> enormous 00:07:45.270 --> 00:07:45.280 align:start position:0% initially and have shipped an enormous 00:07:45.280 --> 00:07:47.749 align:start position:0% initially and have shipped an enormous number<00:07:45.560> of<00:07:45.840> tools<00:07:46.840> but<00:07:47.120> you<00:07:47.319> note<00:07:47.520> that<00:07:47.639> the 00:07:47.749 --> 00:07:47.759 align:start position:0% number of tools but you note that the 00:07:47.759 --> 00:07:49.390 align:start position:0% number of tools but you note that the business<00:07:48.080> plan<00:07:48.360> was<00:07:48.520> that<00:07:48.639> we<00:07:48.759> would<00:07:49.039> spend 00:07:49.390 --> 00:07:49.400 align:start position:0% business plan was that we would spend 00:07:49.400 --> 00:07:51.430 align:start position:0% business plan was that we would spend the<00:07:49.520> money<00:07:49.720> to<00:07:49.879> build<00:07:50.199> the<00:07:50.360> stuff<00:07:51.120> and<00:07:51.240> then 00:07:51.430 --> 00:07:51.440 align:start position:0% the money to build the stuff and then 00:07:51.440 --> 00:07:52.909 align:start position:0% the money to build the stuff and then after<00:07:51.720> that<00:07:51.879> there<00:07:52.000> were<00:07:52.120> a<00:07:52.240> series<00:07:52.479> of<00:07:52.599> large 00:07:52.909 --> 00:07:52.919 align:start position:0% after that there were a series of large 00:07:52.919 --> 00:07:54.230 align:start position:0% after that there were a series of large question<00:07:53.199> marks<00:07:53.560> about<00:07:53.759> how<00:07:53.919> we<00:07:54.039> would 00:07:54.230 --> 00:07:54.240 align:start position:0% question marks about how we would 00:07:54.240 --> 00:07:57.110 align:start position:0% question marks about how we would sustain<00:07:54.560> the<00:07:55.039> foundation<00:07:56.039> and<00:07:56.520> you<00:07:56.639> know<00:07:57.000> that 00:07:57.110 --> 00:07:57.120 align:start position:0% sustain the foundation and you know that 00:07:57.120 --> 00:07:58.909 align:start position:0% sustain the foundation and you know that is<00:07:57.240> an<00:07:57.440> example<00:07:57.800> of<00:07:57.879> a<00:07:58.039> situation<00:07:58.560> where<00:07:58.720> we've 00:07:58.909 --> 00:07:58.919 align:start position:0% is an example of a situation where we've 00:07:58.919 --> 00:08:01.469 align:start position:0% is an example of a situation where we've got<00:07:59.080> the<00:07:59.520> social<00:07:59.919> fabric<00:08:00.680> required<00:08:01.120> to<00:08:01.280> do 00:08:01.469 --> 00:08:01.479 align:start position:0% got the social fabric required to do 00:08:01.479 --> 00:08:04.390 align:start position:0% got the social fabric required to do large<00:08:02.159> spontaneous<00:08:02.879> raises<00:08:03.759> but<00:08:03.919> we<00:08:04.080> don't 00:08:04.390 --> 00:08:04.400 align:start position:0% large spontaneous raises but we don't 00:08:04.400 --> 00:08:06.830 align:start position:0% large spontaneous raises but we don't yet<00:08:04.639> have<00:08:04.840> the<00:08:05.240> institutional<00:08:06.240> Consciousness 00:08:06.830 --> 00:08:06.840 align:start position:0% yet have the institutional Consciousness 00:08:06.840 --> 00:08:08.950 align:start position:0% yet have the institutional Consciousness among<00:08:07.080> ordinary<00:08:07.680> people<00:08:08.319> that<00:08:08.479> they<00:08:08.639> have<00:08:08.759> to 00:08:08.950 --> 00:08:08.960 align:start position:0% among ordinary people that they have to 00:08:08.960 --> 00:08:10.390 align:start position:0% among ordinary people that they have to continue<00:08:09.319> to<00:08:09.520> donate<00:08:09.919> if<00:08:10.000> they're<00:08:10.159> going<00:08:10.280> to 00:08:10.390 --> 00:08:10.400 align:start position:0% continue to donate if they're going to 00:08:10.400 --> 00:08:13.189 align:start position:0% continue to donate if they're going to continue<00:08:10.680> to<00:08:11.319> innovate<00:08:12.319> so<00:08:12.680> this<00:08:12.800> is<00:08:13.000> the 00:08:13.189 --> 00:08:13.199 align:start position:0% continue to innovate so this is the 00:08:13.199 --> 00:08:15.950 align:start position:0% continue to innovate so this is the first<00:08:13.639> major<00:08:14.000> challenge<00:08:14.560> funding<00:08:15.039> of<00:08:15.319> Public 00:08:15.950 --> 00:08:15.960 align:start position:0% first major challenge funding of Public 00:08:15.960 --> 00:08:18.270 align:start position:0% first major challenge funding of Public Works<00:08:16.960> and<00:08:17.319> it's<00:08:17.520> obvious<00:08:17.879> that<00:08:18.039> what<00:08:18.159> I'm 00:08:18.270 --> 00:08:18.280 align:start position:0% Works and it's obvious that what I'm 00:08:18.280 --> 00:08:20.869 align:start position:0% Works and it's obvious that what I'm really<00:08:18.560> discussing<00:08:19.159> here<00:08:19.720> is<00:08:20.120> DAP<00:08:20.520> based 00:08:20.869 --> 00:08:20.879 align:start position:0% really discussing here is DAP based 00:08:20.879 --> 00:08:22.830 align:start position:0% really discussing here is DAP based donation<00:08:21.440> systems<00:08:21.919> where<00:08:22.039> you<00:08:22.159> can<00:08:22.360> subscribe 00:08:22.830 --> 00:08:22.840 align:start position:0% donation systems where you can subscribe 00:08:22.840 --> 00:08:25.830 align:start position:0% donation systems where you can subscribe to<00:08:22.960> a<00:08:23.080> set<00:08:23.199> of<00:08:23.360> projects<00:08:24.280> and<00:08:25.039> can<00:08:25.280> continue<00:08:25.639> to 00:08:25.830 --> 00:08:25.840 align:start position:0% to a set of projects and can continue to 00:08:25.840 --> 00:08:27.510 align:start position:0% to a set of projects and can continue to inject<00:08:26.199> money<00:08:26.440> into<00:08:26.720> those<00:08:26.919> projects<00:08:27.240> in<00:08:27.360> an 00:08:27.510 --> 00:08:27.520 align:start position:0% inject money into those projects in an 00:08:27.520 --> 00:08:30.510 align:start position:0% inject money into those projects in an ongoing<00:08:27.960> way<00:08:28.960> I'm<00:08:29.080> also<00:08:29.520> talking<00:08:29.720> about<00:08:29.960> Dao 00:08:30.510 --> 00:08:30.520 align:start position:0% ongoing way I'm also talking about Dao 00:08:30.520 --> 00:08:32.949 align:start position:0% ongoing way I'm also talking about Dao based<00:08:30.879> governance<00:08:31.840> of<00:08:32.039> those<00:08:32.279> public<00:08:32.560> works 00:08:32.949 --> 00:08:32.959 align:start position:0% based governance of those public works 00:08:32.959 --> 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eold<00:08:38.560> not<00:08:38.760> that<00:08:38.880> that<00:08:39.000> ever<00:08:39.200> actually 00:08:39.509 --> 00:08:39.519 align:start position:0% the eold not that that ever actually 00:08:39.519 --> 00:08:40.709 align:start position:0% the eold not that that ever actually happened<00:08:39.919> but<00:08:40.039> you<00:08:40.120> know<00:08:40.279> the<00:08:40.399> kind<00:08:40.479> of<00:08:40.599> thing 00:08:40.709 --> 00:08:40.719 align:start position:0% happened but you know the kind of thing 00:08:40.719 --> 00:08:41.630 align:start position:0% happened but you know the kind of thing that 00:08:41.630 --> 00:08:41.640 align:start position:0% that 00:08:41.640 --> 00:08:43.870 align:start position:0% that could<00:08:42.640> uh<00:08:42.760> does<00:08:42.959> this<00:08:43.080> all<00:08:43.279> make<00:08:43.440> sense<00:08:43.640> as<00:08:43.760> a 00:08:43.870 --> 00:08:43.880 align:start position:0% could uh does this all make sense as a 00:08:43.880 --> 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will<00:08:53.200> still 00:08:53.350 --> 00:08:53.360 align:start position:0% time yeah we're okay this will still 00:08:53.360 --> 00:08:56.230 align:start position:0% time yeah we're okay this will still work<00:08:54.240> so<00:08:55.240> second<00:08:55.519> piece<00:08:55.680> I<00:08:55.760> want<00:08:55.880> to<00:08:56.040> talk 00:08:56.230 --> 00:08:56.240 align:start position:0% work so second piece I want to talk 00:08:56.240 --> 00:08:58.550 align:start position:0% work so second piece I want to talk about<00:08:56.760> is<00:08:57.320> the<00:08:57.519> great<00:08:57.839> devil<00:08:58.240> which<00:08:58.360> is 00:08:58.550 --> 00:08:58.560 align:start position:0% about is the great devil which is 00:08:58.560 --> 00:09:00.910 align:start position:0% about is the great devil which is identity<00:08:59.040> infr<00:08:59.440> infastructure<00:08:59.760> uh<00:09:00.760> could 00:09:00.910 --> 00:09:00.920 align:start position:0% identity infr infastructure uh could 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that<00:09:08.399> you<00:09:08.519> were<00:09:09.040> saw 00:09:09.430 --> 00:09:09.440 align:start position:0% the other people that you were saw 00:09:09.440 --> 00:09:10.550 align:start position:0% the other people that you were saw raising<00:09:09.720> their<00:09:09.880> hands<00:09:10.079> are<00:09:10.240> currently 00:09:10.550 --> 00:09:10.560 align:start position:0% raising their hands are currently 00:09:10.560 --> 00:09:13.350 align:start position:0% raising their hands are currently working<00:09:10.800> on<00:09:11.000> identity<00:09:11.959> projects<00:09:12.959> okay 00:09:13.350 --> 00:09:13.360 align:start position:0% working on identity projects okay 00:09:13.360 --> 00:09:15.030 align:start position:0% working on identity projects okay everybody<00:09:13.720> who's<00:09:13.920> working<00:09:14.160> on<00:09:14.320> an<00:09:14.519> identity 00:09:15.030 --> 00:09:15.040 align:start position:0% everybody who's working on an identity 00:09:15.040 --> 00:09:17.110 align:start position:0% everybody who's working on an identity project<00:09:15.760> come<00:09:15.920> and<00:09:16.079> meet<00:09:16.279> me<00:09:16.480> at<00:09:16.600> the<00:09:16.760> podium 00:09:17.110 --> 00:09:17.120 align:start position:0% project come and meet me at the podium 00:09:17.120 --> 00:09:18.790 align:start position:0% project come and meet me at the podium at<00:09:17.240> the<00:09:17.320> end<00:09:17.519> of<00:09:17.680> this<00:09:17.880> talk<00:09:18.120> and<00:09:18.279> say<00:09:18.480> hello<00:09:18.680> to 00:09:18.790 --> 00:09:18.800 align:start position:0% at the end of this talk and say hello to 00:09:18.800 --> 00:09:19.949 align:start position:0% at the end of this talk and say hello to all<00:09:18.920> of<00:09:19.040> your 00:09:19.949 --> 00:09:19.959 align:start position:0% all of your 00:09:19.959 --> 00:09:22.590 align:start position:0% all of your compatriots<00:09:20.959> the<00:09:21.160> idea<00:09:21.480> that<00:09:21.720> identity<00:09:22.440> is 00:09:22.590 --> 00:09:22.600 align:start position:0% compatriots the idea that identity is 00:09:22.600 --> 00:09:25.670 align:start position:0% compatriots the idea that identity is going<00:09:22.720> to<00:09:22.880> turn<00:09:23.079> out<00:09:23.240> to<00:09:23.480> be<00:09:24.000> a<00:09:24.240> simple<00:09:24.839> problem 00:09:25.670 --> 00:09:25.680 align:start position:0% going to turn out to be a simple problem 00:09:25.680 --> 00:09:27.790 align:start position:0% going to turn out to be a simple problem where<00:09:26.040> a<00:09:26.200> small<00:09:26.560> team<00:09:27.040> can<00:09:27.200> write<00:09:27.399> a<00:09:27.480> bunch<00:09:27.680> of 00:09:27.790 --> 00:09:27.800 align:start position:0% where a small team can write a bunch of 00:09:27.800 --> 00:09:29.069 align:start position:0% where a small team can write a bunch of code<00:09:28.040> and<00:09:28.160> have<00:09:28.279> a<00:09:28.399> bunch<00:09:28.560> of<00:09:28.640> breakthroughs 00:09:29.069 --> 00:09:29.079 align:start position:0% code and have a bunch of breakthroughs 00:09:29.079 --> 00:09:30.870 align:start position:0% code and have a bunch of breakthroughs at<00:09:29.200> the<00:09:29.440> end<00:09:29.560> of<00:09:29.640> that<00:09:29.839> process<00:09:30.120> we<00:09:30.279> have<00:09:30.440> fixed 00:09:30.870 --> 00:09:30.880 align:start position:0% at the end of that process we have fixed 00:09:30.880 --> 00:09:34.790 align:start position:0% at the end of that process we have fixed identity<00:09:31.880> is<00:09:32.720> so<00:09:33.040> far<00:09:33.880> uh<00:09:34.040> an<00:09:34.160> unproven 00:09:34.790 --> 00:09:34.800 align:start position:0% identity is so far uh an unproven 00:09:34.800 --> 00:09:36.870 align:start position:0% identity is so far uh an unproven hypothesis<00:09:35.800> what<00:09:35.920> I<00:09:36.040> do<00:09:36.240> know<00:09:36.519> is<00:09:36.640> that<00:09:36.760> there 00:09:36.870 --> 00:09:36.880 align:start position:0% hypothesis what I do know is that there 00:09:36.880 --> 00:09:38.630 align:start position:0% hypothesis what I do know is that there must<00:09:37.000> have<00:09:37.120> been<00:09:37.360> 60<00:09:37.680> or<00:09:37.959> 100<00:09:38.160> teams<00:09:38.480> that 00:09:38.630 --> 00:09:38.640 align:start position:0% must have been 60 or 100 teams that 00:09:38.640 --> 00:09:41.310 align:start position:0% must have been 60 or 100 teams that tried<00:09:39.040> that<00:09:39.560> and<00:09:39.720> we<00:09:39.959> still<00:09:40.320> have<00:09:40.680> only<00:09:41.040> two 00:09:41.310 --> 00:09:41.320 align:start position:0% tried that and we still have only two 00:09:41.320 --> 00:09:42.790 align:start position:0% tried that and we still have only two pieces<00:09:41.640> of<00:09:41.839> globally 00:09:42.790 --> 00:09:42.800 align:start position:0% pieces of globally 00:09:42.800 --> 00:09:46.230 align:start position:0% pieces of globally deployed<00:09:43.839> uh<00:09:44.839> non-state<00:09:45.440> or<00:09:45.640> par<00:09:46.000> State 00:09:46.230 --> 00:09:46.240 align:start position:0% deployed uh non-state or par State 00:09:46.240 --> 00:09:47.269 align:start position:0% deployed uh non-state or par State identity 00:09:47.269 --> 00:09:47.279 align:start position:0% identity 00:09:47.279 --> 00:09:50.750 align:start position:0% identity infrastructure<00:09:48.279> um<00:09:48.959> maybe<00:09:49.440> three<00:09:50.200> so<00:09:50.560> the 00:09:50.750 --> 00:09:50.760 align:start position:0% infrastructure um maybe three so the 00:09:50.760 --> 00:09:54.190 align:start position:0% infrastructure um maybe three so the first<00:09:51.079> is<00:09:51.240> the<00:09:51.360> gpg<00:09:51.920> web<00:09:52.120> of<00:09:52.600> trust<00:09:53.600> um<00:09:54.000> does 00:09:54.190 --> 00:09:54.200 align:start position:0% first is the gpg web of trust um does 00:09:54.200 --> 00:09:56.470 align:start position:0% first is the gpg web of trust um does anybody<00:09:54.800> feel<00:09:55.240> really<00:09:55.600> confident<00:09:56.040> they 00:09:56.470 --> 00:09:56.480 align:start position:0% anybody feel really confident they 00:09:56.480 --> 00:09:58.269 align:start position:0% anybody feel really confident they understand<00:09:56.880> everything<00:09:57.200> to<00:09:57.360> do<00:09:57.560> with<00:09:57.680> the<00:09:57.800> gpg 00:09:58.269 --> 00:09:58.279 align:start position:0% understand everything to do with the gpg 00:09:58.279 --> 00:10:01.230 align:start position:0% understand everything to do with the gpg web<00:09:58.480> at<00:09:58.640> Trust 00:10:01.230 --> 00:10:01.240 align:start position:0% web at Trust 00:10:01.240 --> 00:10:03.269 align:start position:0% web at Trust right<00:10:01.760> Point's<00:10:02.040> a<00:10:02.200> good<00:10:02.360> one<00:10:02.760> so<00:10:02.920> at<00:10:03.079> that 00:10:03.269 --> 00:10:03.279 align:start position:0% right Point's a good one so at that 00:10:03.279 --> 00:10:05.150 align:start position:0% right Point's a good one so at that point<00:10:03.560> if<00:10:03.680> in<00:10:03.800> a<00:10:03.920> room<00:10:04.200> like<00:10:04.399> this<00:10:04.600> nobody's 00:10:05.150 --> 00:10:05.160 align:start position:0% point if in a room like this nobody's 00:10:05.160 --> 00:10:07.030 align:start position:0% point if in a room like this nobody's 100%<00:10:05.640> on<00:10:05.760> how<00:10:05.880> the<00:10:05.959> web<00:10:06.320> trust<00:10:06.600> Works 00:10:07.030 --> 00:10:07.040 align:start position:0% 100% on how the web trust Works 00:10:07.040 --> 00:10:10.030 align:start position:0% 100% on how the web trust Works including<00:10:07.480> me<00:10:07.760> I'm<00:10:07.880> not<00:10:08.160> sure<00:10:09.160> uh<00:10:09.600> you<00:10:09.720> know 00:10:10.030 --> 00:10:10.040 align:start position:0% including me I'm not sure uh you know 00:10:10.040 --> 00:10:11.910 align:start position:0% including me I'm not sure uh you know well<00:10:10.200> because<00:10:10.440> there's<00:10:10.640> all<00:10:10.800> this<00:10:11.120> F<00:10:11.440> fussy 00:10:11.910 --> 00:10:11.920 align:start position:0% well because there's all this F fussy 00:10:11.920 --> 00:10:14.509 align:start position:0% well because there's all this F fussy stuff<00:10:12.200> about<00:10:12.839> validity<00:10:13.440> of<00:10:13.760> revocation 00:10:14.509 --> 00:10:14.519 align:start position:0% stuff about validity of revocation 00:10:14.519 --> 00:10:16.750 align:start position:0% stuff about validity of revocation certificates<00:10:15.399> and<00:10:16.040> you<00:10:16.160> know<00:10:16.320> multiple 00:10:16.750 --> 00:10:16.760 align:start position:0% certificates and you know multiple 00:10:16.760 --> 00:10:18.790 align:start position:0% certificates and you know multiple levels<00:10:17.040> of<00:10:17.240> signatures<00:10:18.040> how<00:10:18.200> many<00:10:18.519> you<00:10:18.600> know 00:10:18.790 --> 00:10:18.800 align:start position:0% levels of signatures how many you know 00:10:18.800 --> 00:10:20.350 align:start position:0% levels of signatures how many you know how<00:10:18.920> do<00:10:19.000> you<00:10:19.120> set<00:10:19.320> the<00:10:19.480> parameters<00:10:20.040> for 00:10:20.350 --> 00:10:20.360 align:start position:0% how do you set the parameters for 00:10:20.360 --> 00:10:22.790 align:start position:0% how do you set the parameters for tertiary<00:10:21.200> oh<00:10:21.360> it's<00:10:21.600> nightmare<00:10:22.079> right<00:10:22.519> so<00:10:22.680> the 00:10:22.790 --> 00:10:22.800 align:start position:0% tertiary oh it's nightmare right so the 00:10:22.800 --> 00:10:24.990 align:start position:0% tertiary oh it's nightmare right so the fact<00:10:22.959> that<00:10:23.120> nobody<00:10:23.800> understands<00:10:24.120> gpg<00:10:24.680> well 00:10:24.990 --> 00:10:25.000 align:start position:0% fact that nobody understands gpg well 00:10:25.000 --> 00:10:26.389 align:start position:0% fact that nobody understands gpg well web<00:10:25.160> of<00:10:25.320> trust<00:10:25.640> well<00:10:25.800> enough<00:10:25.959> to<00:10:26.079> stick<00:10:26.279> their 00:10:26.389 --> 00:10:26.399 align:start position:0% web of trust well enough to stick their 00:10:26.399 --> 00:10:27.750 align:start position:0% web of trust well enough to stick their hand<00:10:26.560> up<00:10:26.640> in<00:10:26.720> the<00:10:26.800> air<00:10:26.920> and<00:10:27.000> say<00:10:27.160> I<00:10:27.240> can<00:10:27.440> explain 00:10:27.750 --> 00:10:27.760 align:start position:0% hand up in the air and say I can explain 00:10:27.760 --> 00:10:29.750 align:start position:0% hand up in the air and say I can explain it<00:10:28.399> tells<00:10:28.680> you<00:10:28.839> that<00:10:28.959> it<00:10:29.120> just<00:10:29.360> just<00:10:29.519> didn't 00:10:29.750 --> 00:10:29.760 align:start position:0% it tells you that it just just didn't 00:10:29.760 --> 00:10:32.910 align:start position:0% it tells you that it just just didn't work<00:10:29.959> for<00:10:30.200> people<00:10:31.040> so<00:10:31.240> we've<00:10:31.480> got<00:10:31.720> key<00:10:32.000> servers 00:10:32.910 --> 00:10:32.920 align:start position:0% work for people so we've got key servers 00:10:32.920 --> 00:10:35.310 align:start position:0% work for people so we've got key servers with<00:10:33.320> enormous<00:10:33.920> numbers<00:10:34.200> of<00:10:34.399> keys<00:10:34.760> just<00:10:35.000> piled 00:10:35.310 --> 00:10:35.320 align:start position:0% with enormous numbers of keys just piled 00:10:35.320 --> 00:10:37.910 align:start position:0% with enormous numbers of keys just piled up<00:10:35.480> in<00:10:35.680> them<00:10:36.320> and<00:10:36.720> very<00:10:37.040> little<00:10:37.320> verification 00:10:37.910 --> 00:10:37.920 align:start position:0% up in them and very little verification 00:10:37.920 --> 00:10:39.710 align:start position:0% up in them and very little verification of<00:10:38.160> those<00:10:38.320> keys<00:10:38.680> people<00:10:38.880> do<00:10:39.079> key<00:10:39.320> signing 00:10:39.710 --> 00:10:39.720 align:start position:0% of those keys people do key signing 00:10:39.720 --> 00:10:42.030 align:start position:0% of those keys people do key signing parties<00:10:40.040> at<00:10:40.200> hacker<00:10:40.560> conventions<00:10:41.120> even<00:10:41.399> now 00:10:42.030 --> 00:10:42.040 align:start position:0% parties at hacker conventions even now 00:10:42.040 --> 00:10:44.150 align:start position:0% parties at hacker conventions even now but<00:10:42.200> this<00:10:42.320> is<00:10:42.480> almost<00:10:42.760> entirely<00:10:43.160> a<00:10:43.320> cargo<00:10:43.760> cult 00:10:44.150 --> 00:10:44.160 align:start position:0% but this is almost entirely a cargo cult 00:10:44.160 --> 00:10:46.430 align:start position:0% but this is almost entirely a cargo cult activity<00:10:45.160> we<00:10:45.360> get<00:10:45.639> together<00:10:45.920> we<00:10:46.040> look<00:10:46.200> at<00:10:46.320> each 00:10:46.430 --> 00:10:46.440 align:start position:0% activity we get together we look at each 00:10:46.440 --> 00:10:48.190 align:start position:0% activity we get together we look at each other's<00:10:46.800> passports<00:10:47.279> we<00:10:47.399> sign<00:10:47.680> each<00:10:47.800> other's 00:10:48.190 --> 00:10:48.200 align:start position:0% other's passports we sign each other's 00:10:48.200 --> 00:10:50.710 align:start position:0% other's passports we sign each other's Keys<00:10:48.880> the<00:10:49.000> keys<00:10:49.240> go<00:10:49.399> into<00:10:49.560> the<00:10:49.680> key<00:10:49.920> servers 00:10:50.710 --> 00:10:50.720 align:start position:0% Keys the keys go into the key servers 00:10:50.720 --> 00:10:52.509 align:start position:0% Keys the keys go into the key servers but<00:10:50.920> because<00:10:51.160> the<00:10:51.279> trust<00:10:51.600> model<00:10:51.880> is<00:10:52.000> so<00:10:52.160> poorly 00:10:52.509 --> 00:10:52.519 align:start position:0% but because the trust model is so poorly 00:10:52.519 --> 00:10:54.470 align:start position:0% but because the trust model is so poorly understood<00:10:53.519> all<00:10:53.639> that<00:10:53.839> really<00:10:54.079> happens<00:10:54.399> is 00:10:54.470 --> 00:10:54.480 align:start position:0% understood all that really happens is 00:10:54.480 --> 00:10:55.870 align:start position:0% understood all that really happens is that<00:10:54.639> people<00:10:54.839> go<00:10:54.959> to<00:10:55.079> the<00:10:55.200> key<00:10:55.440> server 00:10:55.870 --> 00:10:55.880 align:start position:0% that people go to the key server 00:10:55.880 --> 00:10:57.150 align:start position:0% that people go to the key server download<00:10:56.279> the<00:10:56.399> key<00:10:56.600> that<00:10:56.720> has<00:10:56.839> the<00:10:56.959> most 00:10:57.150 --> 00:10:57.160 align:start position:0% download the key that has the most 00:10:57.160 --> 00:11:00.030 align:start position:0% download the key that has the most signature<00:10:57.800> and<00:10:57.959> decide<00:10:58.240> it's<00:10:58.480> valid 00:11:00.030 --> 00:11:00.040 align:start position:0% signature and decide it's valid 00:11:00.040 --> 00:11:02.629 align:start position:0% signature and decide it's valid if<00:11:00.200> they<00:11:00.399> even<00:11:00.600> do<00:11:00.959> that<00:11:01.959> right<00:11:02.240> most<00:11:02.399> of<00:11:02.519> the 00:11:02.629 --> 00:11:02.639 align:start position:0% if they even do that right most of the 00:11:02.639 --> 00:11:03.990 align:start position:0% if they even do that right most of the time<00:11:02.800> you<00:11:02.959> actually<00:11:03.160> get<00:11:03.320> the<00:11:03.440> key<00:11:03.639> by<00:11:03.800> taking 00:11:03.990 --> 00:11:04.000 align:start position:0% time you actually get the key by taking 00:11:04.000 --> 00:11:05.670 align:start position:0% time you actually get the key by taking a<00:11:04.079> look<00:11:04.240> at<00:11:04.360> the<00:11:04.560> fingerprint<00:11:05.079> on<00:11:05.200> somebody's 00:11:05.670 --> 00:11:05.680 align:start position:0% a look at the fingerprint on somebody's 00:11:05.680 --> 00:11:07.190 align:start position:0% a look at the fingerprint on somebody's business<00:11:06.000> card<00:11:06.279> and<00:11:06.519> that's<00:11:06.720> just<00:11:06.880> about<00:11:07.079> all 00:11:07.190 --> 00:11:07.200 align:start position:0% business card and that's just about all 00:11:07.200 --> 00:11:07.949 align:start position:0% business card and that's just about all we 00:11:07.949 --> 00:11:07.959 align:start position:0% we 00:11:07.959 --> 00:11:10.990 align:start position:0% we do<00:11:08.959> uh<00:11:09.160> the<00:11:09.240> other<00:11:09.440> one<00:11:09.560> of<00:11:09.720> these<00:11:09.880> is<00:11:10.040> the<00:11:10.160> x509 00:11:10.990 --> 00:11:11.000 align:start position:0% do uh the other one of these is the x509 00:11:11.000 --> 00:11:14.430 align:start position:0% do uh the other one of these is the x509 infrastructure<00:11:12.000> uh<00:11:12.360> X500<00:11:13.360> was<00:11:13.560> a<00:11:13.760> telepan 00:11:14.430 --> 00:11:14.440 align:start position:0% infrastructure uh X500 was a telepan 00:11:14.440 --> 00:11:17.190 align:start position:0% infrastructure uh X500 was a telepan standard<00:11:15.360> x509<00:11:16.200> I<00:11:16.240> think<00:11:16.440> originally<00:11:16.920> was<00:11:17.040> a 00:11:17.190 --> 00:11:17.200 align:start position:0% standard x509 I think originally was a 00:11:17.200 --> 00:11:19.150 align:start position:0% standard x509 I think originally was a certificate<00:11:17.639> structure<00:11:18.000> for<00:11:18.160> secure<00:11:18.560> Tony 00:11:19.150 --> 00:11:19.160 align:start position:0% certificate structure for secure Tony 00:11:19.160 --> 00:11:20.990 align:start position:0% certificate structure for secure Tony something<00:11:19.399> like<00:11:19.600> that<00:11:20.240> hierarchical 00:11:20.990 --> 00:11:21.000 align:start position:0% something like that hierarchical 00:11:21.000 --> 00:11:22.470 align:start position:0% something like that hierarchical certificate<00:11:21.480> chains<00:11:21.880> where<00:11:22.079> everything<00:11:22.320> is 00:11:22.470 --> 00:11:22.480 align:start position:0% certificate chains where everything is 00:11:22.480 --> 00:11:24.590 align:start position:0% certificate chains where everything is signed<00:11:22.800> by<00:11:22.959> everything<00:11:23.360> else<00:11:23.959> down<00:11:24.320> these 00:11:24.590 --> 00:11:24.600 align:start position:0% signed by everything else down these 00:11:24.600 --> 00:11:27.629 align:start position:0% signed by everything else down these pyramids<00:11:25.600> currently<00:11:26.040> instanciated<00:11:26.800> as 00:11:27.629 --> 00:11:27.639 align:start position:0% pyramids currently instanciated as 00:11:27.639 --> 00:11:30.910 align:start position:0% pyramids currently instanciated as https<00:11:28.639> so<00:11:29.360> everybody<00:11:29.720> is<00:11:29.880> using<00:11:30.399> websites 00:11:30.910 --> 00:11:30.920 align:start position:0% https so everybody is using websites 00:11:30.920 --> 00:11:33.509 align:start position:0% https so everybody is using websites with<00:11:31.079> https<00:11:32.000> to<00:11:32.240> verify<00:11:32.639> their<00:11:32.839> digital 00:11:33.509 --> 00:11:33.519 align:start position:0% with https to verify their digital 00:11:33.519 --> 00:11:35.430 align:start position:0% with https to verify their digital signatures<00:11:34.519> all<00:11:34.720> the<00:11:34.880> time<00:11:35.040> for<00:11:35.200> all<00:11:35.320> the 00:11:35.430 --> 00:11:35.440 align:start position:0% signatures all the time for all the 00:11:35.440 --> 00:11:36.750 align:start position:0% signatures all the time for all the credit<00:11:35.720> card 00:11:36.750 --> 00:11:36.760 align:start position:0% credit card 00:11:36.760 --> 00:11:39.710 align:start position:0% credit card transactions<00:11:37.760> uh<00:11:38.000> 1500<00:11:38.880> certificate 00:11:39.710 --> 00:11:39.720 align:start position:0% transactions uh 1500 certificate 00:11:39.720 --> 00:11:41.470 align:start position:0% transactions uh 1500 certificate authorities<00:11:40.320> recognized<00:11:40.959> by<00:11:41.079> the<00:11:41.160> major 00:11:41.470 --> 00:11:41.480 align:start position:0% authorities recognized by the major 00:11:41.480 --> 00:11:44.069 align:start position:0% authorities recognized by the major browsers<00:11:42.120> last<00:11:42.279> time<00:11:42.440> I<00:11:42.680> checked<00:11:43.680> lots<00:11:43.920> of 00:11:44.069 --> 00:11:44.079 align:start position:0% browsers last time I checked lots of 00:11:44.079 --> 00:11:45.710 align:start position:0% browsers last time I checked lots of fake<00:11:44.360> certificates<00:11:44.920> that<00:11:45.040> have<00:11:45.120> been<00:11:45.279> issued 00:11:45.710 --> 00:11:45.720 align:start position:0% fake certificates that have been issued 00:11:45.720 --> 00:11:48.190 align:start position:0% fake certificates that have been issued because<00:11:45.920> of<00:11:46.120> people<00:11:46.959> uh<00:11:47.079> spoofing<00:11:47.639> identities 00:11:48.190 --> 00:11:48.200 align:start position:0% because of people uh spoofing identities 00:11:48.200 --> 00:11:49.949 align:start position:0% because of people uh spoofing identities when<00:11:48.360> they<00:11:48.440> went<00:11:48.600> to<00:11:48.720> a<00:11:48.839> regist<00:11:49.399> in<00:11:49.519> a<00:11:49.639> small 00:11:49.949 --> 00:11:49.959 align:start position:0% when they went to a regist in a small 00:11:49.959 --> 00:11:52.949 align:start position:0% when they went to a regist in a small country<00:11:50.880> or<00:11:51.320> they<00:11:51.480> got<00:11:51.600> a<00:11:51.959> Unicode 00:11:52.949 --> 00:11:52.959 align:start position:0% country or they got a Unicode 00:11:52.959 --> 00:11:54.389 align:start position:0% country or they got a Unicode certificate<00:11:53.480> where<00:11:53.600> you've<00:11:53.720> got<00:11:53.800> a<00:11:53.880> Unicode 00:11:54.389 --> 00:11:54.399 align:start position:0% certificate where you've got a Unicode 00:11:54.399 --> 00:11:56.269 align:start position:0% certificate where you've got a Unicode letter<00:11:54.680> so<00:11:54.839> you<00:11:54.920> got<00:11:55.040> a<00:11:55.160> Microsoft<00:11:55.680> domain 00:11:56.269 --> 00:11:56.279 align:start position:0% letter so you got a Microsoft domain 00:11:56.279 --> 00:11:57.829 align:start position:0% letter so you got a Microsoft domain that<00:11:56.440> looks<00:11:56.720> like<00:11:56.959> Microsoft<00:11:57.440> but<00:11:57.560> one<00:11:57.680> of<00:11:57.760> the 00:11:57.829 --> 00:11:57.839 align:start position:0% that looks like Microsoft but one of the 00:11:57.839 --> 00:12:00.150 align:start position:0% that looks like Microsoft but one of the characters<00:11:58.240> is<00:11:58.399> unicode<00:11:59.519> all<00:11:59.639> of<00:11:59.839> these<00:12:00.000> kind 00:12:00.150 --> 00:12:00.160 align:start position:0% characters is unicode all of these kind 00:12:00.160 --> 00:12:02.350 align:start position:0% characters is unicode all of these kind of<00:12:00.320> things<00:12:01.079> that<00:12:01.240> infrastructure<00:12:01.839> is<00:12:01.959> rotting 00:12:02.350 --> 00:12:02.360 align:start position:0% of things that infrastructure is rotting 00:12:02.360 --> 00:12:03.949 align:start position:0% of things that infrastructure is rotting out<00:12:02.519> to<00:12:02.680> the<00:12:02.800> point<00:12:02.959> where<00:12:03.200> somebody<00:12:03.440> sneezes 00:12:03.949 --> 00:12:03.959 align:start position:0% out to the point where somebody sneezes 00:12:03.959 --> 00:12:06.150 align:start position:0% out to the point where somebody sneezes hard<00:12:04.160> it<00:12:04.279> will<00:12:04.440> completely<00:12:04.880> collapse<00:12:05.880> and<00:12:06.079> as 00:12:06.150 --> 00:12:06.160 align:start position:0% hard it will completely collapse and as 00:12:06.160 --> 00:12:08.190 align:start position:0% hard it will completely collapse and as a<00:12:06.399> result<00:12:06.880> we<00:12:07.040> might<00:12:07.240> be<00:12:07.360> left<00:12:07.519> in<00:12:07.639> a<00:12:07.800> situation 00:12:08.190 --> 00:12:08.200 align:start position:0% a result we might be left in a situation 00:12:08.200 --> 00:12:09.470 align:start position:0% a result we might be left in a situation where<00:12:08.320> you<00:12:08.399> can<00:12:08.600> no<00:12:08.720> longer<00:12:09.040> give<00:12:09.200> credit 00:12:09.470 --> 00:12:09.480 align:start position:0% where you can no longer give credit 00:12:09.480 --> 00:12:11.389 align:start position:0% where you can no longer give credit cards<00:12:09.680> to<00:12:09.880> anybody<00:12:10.200> in<00:12:10.279> the<00:12:10.399> internet<00:12:11.240> not 00:12:11.389 --> 00:12:11.399 align:start position:0% cards to anybody in the internet not 00:12:11.399 --> 00:12:12.949 align:start position:0% cards to anybody in the internet not that<00:12:11.519> you<00:12:11.720> really<00:12:11.920> feel<00:12:12.200> like<00:12:12.399> doing<00:12:12.720> that 00:12:12.949 --> 00:12:12.959 align:start position:0% that you really feel like doing that 00:12:12.959 --> 00:12:15.230 align:start position:0% that you really feel like doing that anyway<00:12:13.760> because<00:12:14.240> what<00:12:14.399> we've<00:12:14.760> discovered<00:12:15.000> so 00:12:15.230 --> 00:12:15.240 align:start position:0% anyway because what we've discovered so 00:12:15.240 --> 00:12:17.230 align:start position:0% anyway because what we've discovered so far<00:12:15.440> about<00:12:15.720> Security<00:12:16.320> on<00:12:16.440> the<00:12:16.600> other<00:12:16.839> side<00:12:17.000> of 00:12:17.230 --> 00:12:17.240 align:start position:0% far about Security on the other side of 00:12:17.240 --> 00:12:20.110 align:start position:0% far about Security on the other side of the<00:12:17.560> net<00:12:18.560> means<00:12:18.800> that<00:12:19.040> generally<00:12:19.480> speaking<00:12:19.959> I 00:12:20.110 --> 00:12:20.120 align:start position:0% the net means that generally speaking I 00:12:20.120 --> 00:12:21.509 align:start position:0% the net means that generally speaking I at<00:12:20.279> least<00:12:20.440> I'm<00:12:20.600> very<00:12:20.760> reluctant<00:12:21.199> to<00:12:21.279> give<00:12:21.399> a 00:12:21.509 --> 00:12:21.519 align:start position:0% at least I'm very reluctant to give a 00:12:21.519 --> 00:12:23.509 align:start position:0% at least I'm very reluctant to give a credit<00:12:21.800> card<00:12:21.959> to<00:12:22.120> anything<00:12:22.399> which<00:12:22.519> is<00:12:22.639> not 00:12:23.509 --> 00:12:23.519 align:start position:0% credit card to anything which is not 00:12:23.519 --> 00:12:26.389 align:start position:0% credit card to anything which is not Amazon<00:12:24.519> right<00:12:25.199> because<00:12:25.639> we've<00:12:25.839> got<00:12:26.079> such 00:12:26.389 --> 00:12:26.399 align:start position:0% Amazon right because we've got such 00:12:26.399 --> 00:12:29.590 align:start position:0% Amazon right because we've got such problems<00:12:26.720> with<00:12:27.000> security<00:12:27.560> on<00:12:27.920> the<00:12:28.600> uh<00:12:28.760> process 00:12:29.590 --> 00:12:29.600 align:start position:0% problems with security on the uh process 00:12:29.600 --> 00:12:32.030 align:start position:0% problems with security on the uh process side<00:12:30.399> on<00:12:30.560> the<00:12:30.680> e-commerce<00:12:31.360> side<00:12:31.839> we're 00:12:32.030 --> 00:12:32.040 align:start position:0% side on the e-commerce side we're 00:12:32.040 --> 00:12:33.230 align:start position:0% side on the e-commerce side we're getting<00:12:32.279> into<00:12:32.480> a<00:12:32.600> position<00:12:32.920> where<00:12:33.040> we're 00:12:33.230 --> 00:12:33.240 align:start position:0% getting into a position where we're 00:12:33.240 --> 00:12:35.230 align:start position:0% getting into a position where we're trusting<00:12:33.680> the<00:12:33.800> large<00:12:34.199> Brands<00:12:35.000> again 00:12:35.230 --> 00:12:35.240 align:start position:0% trusting the large Brands again 00:12:35.240 --> 00:12:37.230 align:start position:0% trusting the large Brands again essentially<00:12:35.680> like<00:12:35.800> a<00:12:35.920> cargo<00:12:36.360> CP<00:12:36.839> well<00:12:37.040> these 00:12:37.230 --> 00:12:37.240 align:start position:0% essentially like a cargo CP well these 00:12:37.240 --> 00:12:38.550 align:start position:0% essentially like a cargo CP well these guys<00:12:37.399> are<00:12:37.560> so<00:12:37.760> big<00:12:37.959> there's<00:12:38.160> no<00:12:38.320> way<00:12:38.440> they 00:12:38.550 --> 00:12:38.560 align:start position:0% guys are so big there's no way they 00:12:38.560 --> 00:12:40.590 align:start position:0% guys are so big there's no way they could<00:12:38.720> get<00:12:38.920> hacked<00:12:39.760> right<00:12:39.920> Amazon<00:12:40.320> is<00:12:40.440> not 00:12:40.590 --> 00:12:40.600 align:start position:0% could get hacked right Amazon is not 00:12:40.600 --> 00:12:43.910 align:start position:0% could get hacked right Amazon is not going<00:12:40.720> to<00:12:40.839> wind<00:12:41.040> up<00:12:41.199> at<00:12:41.279> Ashley<00:12:41.600> Madison<00:12:42.519> is<00:12:42.920> it 00:12:43.910 --> 00:12:43.920 align:start position:0% going to wind up at Ashley Madison is it 00:12:43.920 --> 00:12:45.870 align:start position:0% going to wind up at Ashley Madison is it but<00:12:44.079> at<00:12:44.240> that<00:12:44.440> point<00:12:44.920> we<00:12:45.160> no<00:12:45.279> longer<00:12:45.519> have<00:12:45.680> a 00:12:45.870 --> 00:12:45.880 align:start position:0% but at that point we no longer have a 00:12:45.880 --> 00:12:47.990 align:start position:0% but at that point we no longer have a technical<00:12:46.360> trust<00:12:46.880> infrastructure<00:12:47.880> what 00:12:47.990 --> 00:12:48.000 align:start position:0% technical trust infrastructure what 00:12:48.000 --> 00:12:49.790 align:start position:0% technical trust infrastructure what we've<00:12:48.240> got<00:12:48.440> is<00:12:48.560> a<00:12:48.839> brand<00:12:49.399> trust 00:12:49.790 --> 00:12:49.800 align:start position:0% we've got is a brand trust 00:12:49.800 --> 00:12:51.710 align:start position:0% we've got is a brand trust infrastructure<00:12:50.560> which<00:12:50.680> is<00:12:50.839> completely<00:12:51.279> cargo 00:12:51.710 --> 00:12:51.720 align:start position:0% infrastructure which is completely cargo 00:12:51.720 --> 00:12:53.990 align:start position:0% infrastructure which is completely cargo cult<00:12:52.720> right<00:12:52.880> we're<00:12:53.160> trusting<00:12:53.480> the<00:12:53.600> big<00:12:53.760> guys 00:12:53.990 --> 00:12:54.000 align:start position:0% cult right we're trusting the big guys 00:12:54.000 --> 00:12:55.750 align:start position:0% cult right we're trusting the big guys to<00:12:54.120> be<00:12:54.320> competent<00:12:55.040> and<00:12:55.160> therefore<00:12:55.480> the<00:12:55.560> big 00:12:55.750 --> 00:12:55.760 align:start position:0% to be competent and therefore the big 00:12:55.760 --> 00:12:57.470 align:start position:0% to be competent and therefore the big guys<00:12:56.000> will<00:12:56.160> continue<00:12:56.480> to<00:12:56.639> win<00:12:57.000> it<00:12:57.199> kills 00:12:57.470 --> 00:12:57.480 align:start position:0% guys will continue to win it kills 00:12:57.480 --> 00:12:59.629 align:start position:0% guys will continue to win it kills Innovation<00:12:57.920> stone<00:12:58.279> called<00:12:58.600> Dead<00:12:59.360> you<00:12:59.519> just 00:12:59.629 --> 00:12:59.639 align:start position:0% Innovation stone called Dead you just 00:12:59.639 --> 00:13:01.150 align:start position:0% Innovation stone called Dead you just wind<00:12:59.880> up<00:13:00.000> with<00:13:00.160> Monopoly<00:13:00.600> platforms 00:13:01.150 --> 00:13:01.160 align:start position:0% wind up with Monopoly platforms 00:13:01.160 --> 00:13:02.470 align:start position:0% wind up with Monopoly platforms processing<00:13:01.639> payments<00:13:02.079> because<00:13:02.240> they're 00:13:02.470 --> 00:13:02.480 align:start position:0% processing payments because they're 00:13:02.480 --> 00:13:04.590 align:start position:0% processing payments because they're security<00:13:02.880> monopolies<00:13:03.839> does<00:13:04.040> that<00:13:04.240> sound<00:13:04.480> a 00:13:04.590 --> 00:13:04.600 align:start position:0% security monopolies does that sound a 00:13:04.600 --> 00:13:06.230 align:start position:0% security monopolies does that sound a bit<00:13:04.760> like<00:13:04.880> a<00:13:05.040> state<00:13:05.440> to 00:13:06.230 --> 00:13:06.240 align:start position:0% bit like a state to 00:13:06.240 --> 00:13:09.430 align:start position:0% bit like a state to you<00:13:07.240> right<00:13:07.920> a<00:13:08.120> security<00:13:08.639> Monopoly<00:13:09.240> which 00:13:09.430 --> 00:13:09.440 align:start position:0% you right a security Monopoly which 00:13:09.440 --> 00:13:11.269 align:start position:0% you right a security Monopoly which exists<00:13:09.760> as<00:13:09.880> a<00:13:10.040> brand<00:13:10.800> because<00:13:11.000> you<00:13:11.120> don't 00:13:11.269 --> 00:13:11.279 align:start position:0% exists as a brand because you don't 00:13:11.279 --> 00:13:12.750 align:start position:0% exists as a brand because you don't trust<00:13:11.600> anything<00:13:11.839> else<00:13:12.040> to<00:13:12.199> process<00:13:12.560> your 00:13:12.750 --> 00:13:12.760 align:start position:0% trust anything else to process your 00:13:12.760 --> 00:13:14.949 align:start position:0% trust anything else to process your payments<00:13:13.720> that's<00:13:14.000> essentially<00:13:14.480> the<00:13:14.639> core 00:13:14.949 --> 00:13:14.959 align:start position:0% payments that's essentially the core 00:13:14.959 --> 00:13:17.470 align:start position:0% payments that's essentially the core functions<00:13:15.399> of<00:13:15.600> the<00:13:15.800> state<00:13:16.360> reinstantiate<00:13:17.120> as 00:13:17.470 --> 00:13:17.480 align:start position:0% functions of the state reinstantiate as 00:13:17.480 --> 00:13:19.030 align:start position:0% functions of the state reinstantiate as a<00:13:17.600> technology<00:13:18.079> company<00:13:18.399> that<00:13:18.519> processes 00:13:19.030 --> 00:13:19.040 align:start position:0% a technology company that processes 00:13:19.040 --> 00:13:19.949 align:start position:0% a technology company that processes credit 00:13:19.949 --> 00:13:19.959 align:start position:0% credit 00:13:19.959 --> 00:13:22.230 align:start position:0% credit cards<00:13:20.959> right 00:13:22.230 --> 00:13:22.240 align:start position:0% cards right 00:13:22.240 --> 00:13:24.430 align:start position:0% cards right securitization<00:13:23.240> so<00:13:23.600> how<00:13:23.760> did<00:13:23.920> we<00:13:24.040> get<00:13:24.199> into 00:13:24.430 --> 00:13:24.440 align:start position:0% securitization so how did we get into 00:13:24.440 --> 00:13:26.710 align:start position:0% securitization so how did we get into that<00:13:24.639> situation<00:13:25.639> bunch<00:13:25.839> of<00:13:26.000> Cipher<00:13:26.360> punks<00:13:26.600> in 00:13:26.710 --> 00:13:26.720 align:start position:0% that situation bunch of Cipher punks in 00:13:26.720 --> 00:13:27.710 align:start position:0% that situation bunch of Cipher punks in the<00:13:26.839> late 00:13:27.710 --> 00:13:27.720 align:start position:0% the late 00:13:27.720 --> 00:13:29.949 align:start position:0% the late 1990s<00:13:28.720> uh<00:13:28.880> the<00:13:29.120> one<00:13:29.240> that<00:13:29.320> I<00:13:29.440> knew<00:13:29.639> personally 00:13:29.949 --> 00:13:29.959 align:start position:0% 1990s uh the one that I knew personally 00:13:29.959 --> 00:13:32.030 align:start position:0% 1990s uh the one that I knew personally was<00:13:30.079> a<00:13:30.199> guy<00:13:30.320> called<00:13:30.480> Samir<00:13:30.880> par<00:13:31.320> who<00:13:31.480> later<00:13:31.720> on 00:13:32.030 --> 00:13:32.040 align:start position:0% was a guy called Samir par who later on 00:13:32.040 --> 00:13:34.110 align:start position:0% was a guy called Samir par who later on became<00:13:32.360> a<00:13:32.519> marine<00:13:33.040> or<00:13:33.360> Le 00:13:34.110 --> 00:13:34.120 align:start position:0% became a marine or Le 00:13:34.120 --> 00:13:37.870 align:start position:0% became a marine or Le tried<00:13:35.360> um<00:13:36.360> you<00:13:36.480> know<00:13:36.839> sat<00:13:37.199> down<00:13:37.320> and<00:13:37.519> decided 00:13:37.870 --> 00:13:37.880 align:start position:0% tried um you know sat down and decided 00:13:37.880 --> 00:13:40.030 align:start position:0% tried um you know sat down and decided that<00:13:37.959> they<00:13:38.079> were<00:13:38.199> going<00:13:38.320> to<00:13:38.480> build<00:13:39.360> a 00:13:40.030 --> 00:13:40.040 align:start position:0% that they were going to build a 00:13:40.040 --> 00:13:43.829 align:start position:0% that they were going to build a certificate<00:13:41.320> processing<00:13:42.320> web<00:13:42.720> server<00:13:43.720> that 00:13:43.829 --> 00:13:43.839 align:start position:0% certificate processing web server that 00:13:43.839 --> 00:13:45.230 align:start position:0% certificate processing web server that would<00:13:44.000> take<00:13:44.240> advantage<00:13:44.600> of<00:13:44.760> all<00:13:44.880> this<00:13:45.079> new 00:13:45.230 --> 00:13:45.240 align:start position:0% would take advantage of all this new 00:13:45.240 --> 00:13:47.949 align:start position:0% would take advantage of all this new technology<00:13:45.720> called<00:13:46.399> htps<00:13:47.399> they<00:13:47.519> started<00:13:47.839> a 00:13:47.949 --> 00:13:47.959 align:start position:0% technology called htps they started a 00:13:47.959 --> 00:13:48.990 align:start position:0% technology called htps they started a tech<00:13:48.199> company<00:13:48.519> that<00:13:48.600> was<00:13:48.720> going<00:13:48.839> to 00:13:48.990 --> 00:13:49.000 align:start position:0% tech company that was going to 00:13:49.000 --> 00:13:50.910 align:start position:0% tech company that was going to revolutionize<00:13:49.639> payments<00:13:49.959> on<00:13:50.120> the<00:13:50.240> internet 00:13:50.910 --> 00:13:50.920 align:start position:0% revolutionize payments on the internet 00:13:50.920 --> 00:13:52.550 align:start position:0% revolutionize payments on the internet and<00:13:51.040> they<00:13:51.120> were<00:13:51.360> one<00:13:51.480> of<00:13:51.720> a<00:13:51.839> few<00:13:52.160> companies 00:13:52.550 --> 00:13:52.560 align:start position:0% and they were one of a few companies 00:13:52.560 --> 00:13:54.670 align:start position:0% and they were one of a few companies that<00:13:52.759> succeeded<00:13:53.279> in<00:13:53.600> producing<00:13:54.079> secure<00:13:54.440> web 00:13:54.670 --> 00:13:54.680 align:start position:0% that succeeded in producing secure web 00:13:54.680 --> 00:13:56.749 align:start position:0% that succeeded in producing secure web servers<00:13:55.560> the<00:13:55.720> certificate<00:13:56.240> authorities 00:13:56.749 --> 00:13:56.759 align:start position:0% servers the certificate authorities 00:13:56.759 --> 00:13:59.949 align:start position:0% servers the certificate authorities stood<00:13:57.160> up<00:13:58.120> and<00:13:58.480> 15<00:13:58.839> years<00:13:59.120> years<00:13:59.320> later<00:13:59.680> one 00:13:59.949 --> 00:13:59.959 align:start position:0% stood up and 15 years years later one 00:13:59.959 --> 00:14:02.470 align:start position:0% stood up and 15 years years later one generation<00:14:00.560> later<00:14:01.240> that<00:14:01.480> entire<00:14:01.959> system<00:14:02.320> has 00:14:02.470 --> 00:14:02.480 align:start position:0% generation later that entire system has 00:14:02.480 --> 00:14:04.949 align:start position:0% generation later that entire system has essentially<00:14:02.880> become<00:14:03.519> bankrupt<00:14:04.519> we<00:14:04.720> just 00:14:04.949 --> 00:14:04.959 align:start position:0% essentially become bankrupt we just 00:14:04.959 --> 00:14:06.269 align:start position:0% essentially become bankrupt we just can't<00:14:05.160> trust<00:14:05.399> the<00:14:05.560> certificates<00:14:06.040> and<00:14:06.160> we 00:14:06.269 --> 00:14:06.279 align:start position:0% can't trust the certificates and we 00:14:06.279 --> 00:14:08.150 align:start position:0% can't trust the certificates and we can't<00:14:06.480> really<00:14:06.680> trust<00:14:06.880> the<00:14:07.079> browsers<00:14:07.920> because 00:14:08.150 --> 00:14:08.160 align:start position:0% can't really trust the browsers because 00:14:08.160 --> 00:14:09.790 align:start position:0% can't really trust the browsers because they<00:14:08.320> become<00:14:08.600> so<00:14:08.839> complex<00:14:09.199> that<00:14:09.320> you<00:14:09.399> can<00:14:09.560> poke 00:14:09.790 --> 00:14:09.800 align:start position:0% they become so complex that you can poke 00:14:09.800 --> 00:14:11.790 align:start position:0% they become so complex that you can poke holes<00:14:10.079> in<00:14:10.240> them<00:14:10.399> really<00:14:10.680> easily<00:14:11.440> and<00:14:11.560> we're<00:14:11.680> in 00:14:11.790 --> 00:14:11.800 align:start position:0% holes in them really easily and we're in 00:14:11.800 --> 00:14:13.990 align:start position:0% holes in them really easily and we're in a<00:14:12.000> constant<00:14:12.519> cycle<00:14:12.839> of<00:14:13.000> playing<00:14:13.279> cat<00:14:13.639> up<00:14:13.839> with 00:14:13.990 --> 00:14:14.000 align:start position:0% a constant cycle of playing cat up with 00:14:14.000 --> 00:14:16.350 align:start position:0% a constant cycle of playing cat up with people<00:14:14.199> producing<00:14:14.600> zero<00:14:14.920> days<00:14:15.680> so<00:14:15.920> what<00:14:16.079> went 00:14:16.350 --> 00:14:16.360 align:start position:0% people producing zero days so what went 00:14:16.360 --> 00:14:20.430 align:start position:0% people producing zero days so what went wrong<00:14:17.199> right<00:14:17.800> two<00:14:18.040> things<00:14:18.959> first<00:14:19.240> thing<00:14:19.519> is<00:14:20.279> we 00:14:20.430 --> 00:14:20.440 align:start position:0% wrong right two things first thing is we 00:14:20.440 --> 00:14:21.910 align:start position:0% wrong right two things first thing is we wound<00:14:20.720> up<00:14:20.880> in<00:14:20.959> a<00:14:21.120> position<00:14:21.480> where<00:14:21.639> when<00:14:21.759> the 00:14:21.910 --> 00:14:21.920 align:start position:0% wound up in a position where when the 00:14:21.920 --> 00:14:24.870 align:start position:0% wound up in a position where when the Trust<00:14:22.320> Systems<00:14:22.839> began<00:14:23.240> to<00:14:23.519> corrode<00:14:24.480> we<00:14:24.600> didn't 00:14:24.870 --> 00:14:24.880 align:start position:0% Trust Systems began to corrode we didn't 00:14:24.880 --> 00:14:27.310 align:start position:0% Trust Systems began to corrode we didn't build<00:14:25.199> new<00:14:25.399> Trust<00:14:25.800> Systems<00:14:26.800> so<00:14:26.959> the<00:14:27.120> first 00:14:27.310 --> 00:14:27.320 align:start position:0% build new Trust Systems so the first 00:14:27.320 --> 00:14:29.749 align:start position:0% build new Trust Systems so the first time<00:14:27.519> we<00:14:27.680> began<00:14:27.920> to<00:14:28.079> see<00:14:28.720> actual<00:14:29.199> use<00:14:29.360> of<00:14:29.519> fake 00:14:29.749 --> 00:14:29.759 align:start position:0% time we began to see actual use of fake 00:14:29.759 --> 00:14:32.030 align:start position:0% time we began to see actual use of fake certificates<00:14:30.320> in<00:14:30.440> the<00:14:30.600> wild<00:14:31.320> was<00:14:31.480> a<00:14:31.680> position 00:14:32.030 --> 00:14:32.040 align:start position:0% certificates in the wild was a position 00:14:32.040 --> 00:14:33.509 align:start position:0% certificates in the wild was a position where<00:14:32.199> we<00:14:32.320> should<00:14:32.519> have<00:14:32.680> stood<00:14:33.000> up<00:14:33.120> and<00:14:33.279> done 00:14:33.509 --> 00:14:33.519 align:start position:0% where we should have stood up and done 00:14:33.519 --> 00:14:35.550 align:start position:0% where we should have stood up and done something<00:14:33.839> about<00:14:34.079> it<00:14:34.199> and<00:14:34.360> built<00:14:34.920> a<00:14:35.160> second 00:14:35.550 --> 00:14:35.560 align:start position:0% something about it and built a second 00:14:35.560 --> 00:14:36.590 align:start position:0% something about it and built a second version<00:14:35.839> of<00:14:35.959> the<00:14:36.079> certificate 00:14:36.590 --> 00:14:36.600 align:start position:0% version of the certificate 00:14:36.600 --> 00:14:38.069 align:start position:0% version of the certificate infrastructure<00:14:37.240> that<00:14:37.360> didn't<00:14:37.600> have<00:14:37.800> those 00:14:38.069 --> 00:14:38.079 align:start position:0% infrastructure that didn't have those 00:14:38.079 --> 00:14:39.790 align:start position:0% infrastructure that didn't have those problems<00:14:38.959> and<00:14:39.079> there<00:14:39.160> were<00:14:39.360> plenty<00:14:39.600> of 00:14:39.790 --> 00:14:39.800 align:start position:0% problems and there were plenty of 00:14:39.800 --> 00:14:41.189 align:start position:0% problems and there were plenty of proposals<00:14:40.240> for<00:14:40.399> things<00:14:40.600> like<00:14:40.800> pinned 00:14:41.189 --> 00:14:41.199 align:start position:0% proposals for things like pinned 00:14:41.199 --> 00:14:42.590 align:start position:0% proposals for things like pinned certificates<00:14:41.759> and<00:14:41.920> other<00:14:42.120> things<00:14:42.320> along 00:14:42.590 --> 00:14:42.600 align:start position:0% certificates and other things along 00:14:42.600 --> 00:14:45.269 align:start position:0% certificates and other things along these<00:14:42.880> lines<00:14:43.880> but<00:14:44.199> we<00:14:44.320> didn't<00:14:44.600> actually<00:14:44.839> get<00:14:45.079> a 00:14:45.269 --> 00:14:45.279 align:start position:0% these lines but we didn't actually get a 00:14:45.279 --> 00:14:47.150 align:start position:0% these lines but we didn't actually get a much<00:14:45.440> of<00:14:45.600> a<00:14:45.759> push<00:14:46.120> behind<00:14:46.480> that<00:14:46.720> even<00:14:46.880> in<00:14:47.000> the 00:14:47.150 --> 00:14:47.160 align:start position:0% much of a push behind that even in the 00:14:47.160 --> 00:14:49.629 align:start position:0% much of a push behind that even in the technology<00:14:47.639> community<00:14:48.560> and<00:14:48.759> as<00:14:48.839> a<00:14:49.040> result<00:14:49.480> we 00:14:49.629 --> 00:14:49.639 align:start position:0% technology community and as a result we 00:14:49.639 --> 00:14:51.550 align:start position:0% technology community and as a result we just<00:14:49.839> allowed<00:14:50.199> the<00:14:50.360> certificate<00:14:50.880> Authority 00:14:51.550 --> 00:14:51.560 align:start position:0% just allowed the certificate Authority 00:14:51.560 --> 00:14:54.389 align:start position:0% just allowed the certificate Authority infrastructure<00:14:52.160> to<00:14:52.360> degrade<00:14:52.759> over<00:14:53.199> time<00:14:54.199> uh 00:14:54.389 --> 00:14:54.399 align:start position:0% infrastructure to degrade over time uh 00:14:54.399 --> 00:14:56.269 align:start position:0% infrastructure to degrade over time uh and<00:14:54.880> to<00:14:55.079> Res<00:14:55.440> in<00:14:55.560> a<00:14:55.680> position<00:14:56.000> where<00:14:56.120> you 00:14:56.269 --> 00:14:56.279 align:start position:0% and to Res in a position where you 00:14:56.279 --> 00:14:59.230 align:start position:0% and to Res in a position where you cannot<00:14:56.639> rationally<00:14:57.160> trust<00:14:57.519> https<00:14:58.440> anymore 00:14:59.230 --> 00:14:59.240 align:start position:0% cannot rationally trust https anymore 00:14:59.240 --> 00:15:01.110 align:start position:0% cannot rationally trust https anymore except<00:14:59.560> on<00:14:59.720> large<00:15:00.120> sites<00:15:00.360> with<00:15:00.519> big<00:15:00.720> security 00:15:01.110 --> 00:15:01.120 align:start position:0% except on large sites with big security 00:15:01.120 --> 00:15:03.990 align:start position:0% except on large sites with big security infrastructure<00:15:01.720> behind<00:15:02.199> them<00:15:03.199> um<00:15:03.480> the<00:15:03.639> second 00:15:03.990 --> 00:15:04.000 align:start position:0% infrastructure behind them um the second 00:15:04.000 --> 00:15:06.350 align:start position:0% infrastructure behind them um the second thing<00:15:04.199> that<00:15:04.399> goes<00:15:04.680> wrong<00:15:05.440> is<00:15:05.639> that<00:15:05.839> we<00:15:06.079> provide 00:15:06.350 --> 00:15:06.360 align:start position:0% thing that goes wrong is that we provide 00:15:06.360 --> 00:15:08.150 align:start position:0% thing that goes wrong is that we provide a<00:15:06.519> solution<00:15:06.880> to<00:15:07.079> the<00:15:07.240> corporate<00:15:07.639> world<00:15:07.959> in<00:15:08.079> the 00:15:08.150 --> 00:15:08.160 align:start position:0% a solution to the corporate world in the 00:15:08.160 --> 00:15:08.990 align:start position:0% a solution to the corporate world in the form<00:15:08.320> of 00:15:08.990 --> 00:15:09.000 align:start position:0% form of 00:15:09.000 --> 00:15:11.949 align:start position:0% form of https<00:15:10.000> but<00:15:10.120> we<00:15:10.240> never<00:15:10.440> build<00:15:10.720> a<00:15:10.839> solution<00:15:11.120> for 00:15:11.949 --> 00:15:11.959 align:start position:0% https but we never build a solution for 00:15:11.959 --> 00:15:14.310 align:start position:0% https but we never build a solution for individuals<00:15:12.959> so<00:15:13.440> what<00:15:13.639> happens<00:15:13.920> is<00:15:14.040> you<00:15:14.199> get 00:15:14.310 --> 00:15:14.320 align:start position:0% individuals so what happens is you get 00:15:14.320 --> 00:15:15.790 align:start position:0% individuals so what happens is you get this<00:15:14.480> kind<00:15:14.600> of<00:15:14.759> pyramidal<00:15:15.279> certificate 00:15:15.790 --> 00:15:15.800 align:start position:0% this kind of pyramidal certificate 00:15:15.800 --> 00:15:18.350 align:start position:0% this kind of pyramidal certificate deployment<00:15:16.320> structure<00:15:17.199> which<00:15:17.480> in<00:15:17.800> theory<00:15:18.199> was 00:15:18.350 --> 00:15:18.360 align:start position:0% deployment structure which in theory was 00:15:18.360 --> 00:15:19.749 align:start position:0% deployment structure which in theory was going<00:15:18.480> to<00:15:18.680> support<00:15:19.000> a<00:15:19.079> whole<00:15:19.240> bunch<00:15:19.399> of<00:15:19.560> stuff 00:15:19.749 --> 00:15:19.759 align:start position:0% going to support a whole bunch of stuff 00:15:19.759 --> 00:15:21.310 align:start position:0% going to support a whole bunch of stuff around<00:15:20.040> what<00:15:20.160> they<00:15:20.279> call<00:15:20.519> client<00:15:20.920> sign 00:15:21.310 --> 00:15:21.320 align:start position:0% around what they call client sign 00:15:21.320 --> 00:15:23.230 align:start position:0% around what they call client sign certificates<00:15:22.320> which<00:15:22.440> would<00:15:22.600> have<00:15:22.759> extended 00:15:23.230 --> 00:15:23.240 align:start position:0% certificates which would have extended 00:15:23.240 --> 00:15:26.310 align:start position:0% certificates which would have extended that<00:15:23.440> privacy<00:15:23.880> to<00:15:24.079> us<00:15:24.839> so<00:15:25.399> I<00:15:25.519> hold<00:15:25.759> up<00:15:26.079> my 00:15:26.310 --> 00:15:26.320 align:start position:0% that privacy to us so I hold up my 00:15:26.320 --> 00:15:27.829 align:start position:0% that privacy to us so I hold up my certificate<00:15:26.839> and<00:15:26.959> I<00:15:27.040> show<00:15:27.240> it<00:15:27.360> to<00:15:27.480> the<00:15:27.600> web 00:15:27.829 --> 00:15:27.839 align:start position:0% certificate and I show it to the web 00:15:27.839 --> 00:15:29.269 align:start position:0% certificate and I show it to the web server<00:15:28.160> and<00:15:28.279> say<00:15:28.399> I<00:15:28.519> want<00:15:28.600> you<00:15:28.680> to<00:15:28.959> encrypt 00:15:29.269 --> 00:15:29.279 align:start position:0% server and say I want you to encrypt 00:15:29.279 --> 00:15:32.269 align:start position:0% server and say I want you to encrypt your<00:15:29.480> communication<00:15:30.079> with<00:15:30.319> me<00:15:30.880> with<00:15:31.120> this<00:15:31.440> key 00:15:32.269 --> 00:15:32.279 align:start position:0% your communication with me with this key 00:15:32.279 --> 00:15:34.470 align:start position:0% your communication with me with this key and<00:15:32.560> that<00:15:32.720> tells<00:15:32.959> you<00:15:33.120> who<00:15:33.319> I<00:15:33.440> am<00:15:34.120> and<00:15:34.240> if<00:15:34.319> you 00:15:34.470 --> 00:15:34.480 align:start position:0% and that tells you who I am and if you 00:15:34.480 --> 00:15:36.629 align:start position:0% and that tells you who I am and if you poke<00:15:34.759> around<00:15:35.040> in<00:15:35.160> your<00:15:35.360> browsers<00:15:36.240> you<00:15:36.360> will 00:15:36.629 --> 00:15:36.639 align:start position:0% poke around in your browsers you will 00:15:36.639 --> 00:15:38.710 align:start position:0% poke around in your browsers you will find<00:15:36.959> that<00:15:37.240> almost<00:15:37.560> all<00:15:37.720> the<00:15:37.800> major<00:15:38.120> browsers 00:15:38.710 --> 00:15:38.720 align:start position:0% find that almost all the major browsers 00:15:38.720 --> 00:15:41.069 align:start position:0% find that almost all the major browsers still<00:15:39.120> have<00:15:39.360> this<00:15:39.560> Legacy<00:15:40.040> support<00:15:40.800> for 00:15:41.069 --> 00:15:41.079 align:start position:0% still have this Legacy support for 00:15:41.079 --> 00:15:44.189 align:start position:0% still have this Legacy support for client<00:15:41.560> side<00:15:41.759> https<00:15:42.759> certificates<00:15:43.759> clients 00:15:44.189 --> 00:15:44.199 align:start position:0% client side https certificates clients 00:15:44.199 --> 00:15:46.829 align:start position:0% client side https certificates clients side<00:15:44.560> x509<00:15:45.560> that<00:15:45.720> nobody<00:15:46.040> ever<00:15:46.240> uses<00:15:46.600> for 00:15:46.829 --> 00:15:46.839 align:start position:0% side x509 that nobody ever uses for 00:15:46.839 --> 00:15:48.430 align:start position:0% side x509 that nobody ever uses for anything<00:15:47.720> even<00:15:47.920> though<00:15:48.040> it's<00:15:48.199> actually 00:15:48.430 --> 00:15:48.440 align:start position:0% anything even though it's actually 00:15:48.440 --> 00:15:51.590 align:start position:0% anything even though it's actually really<00:15:48.720> powerful<00:15:49.560> stuff<00:15:50.560> why<00:15:50.959> usability 00:15:51.590 --> 00:15:51.600 align:start position:0% really powerful stuff why usability 00:15:51.600 --> 00:15:55.389 align:start position:0% really powerful stuff why usability issues<00:15:52.399> essentially<00:15:53.680> so<00:15:54.680> over<00:15:54.920> and<00:15:55.079> over<00:15:55.240> and 00:15:55.389 --> 00:15:55.399 align:start position:0% issues essentially so over and over and 00:15:55.399 --> 00:15:56.990 align:start position:0% issues essentially so over and over and over<00:15:55.639> again<00:15:55.880> you'll<00:15:56.079> see<00:15:56.279> this<00:15:56.480> pattern 00:15:56.990 --> 00:15:57.000 align:start position:0% over again you'll see this pattern 00:15:57.000 --> 00:16:00.430 align:start position:0% over again you'll see this pattern repeat<00:15:58.000> a<00:15:58.120> bunch<00:15:58.319> of<00:15:58.560> guys<00:15:59.240> hack<00:15:59.720> together<00:15:59.959> a 00:16:00.430 --> 00:16:00.440 align:start position:0% repeat a bunch of guys hack together a 00:16:00.440 --> 00:16:02.870 align:start position:0% repeat a bunch of guys hack together a solution<00:16:01.440> it's<00:16:01.680> good<00:16:01.920> enough<00:16:02.160> for<00:16:02.360> industrial 00:16:02.870 --> 00:16:02.880 align:start position:0% solution it's good enough for industrial 00:16:02.880 --> 00:16:04.790 align:start position:0% solution it's good enough for industrial use<00:16:03.560> it<00:16:03.680> doesn't<00:16:04.040> have<00:16:04.160> the<00:16:04.319> right<00:16:04.480> set<00:16:04.639> of 00:16:04.790 --> 00:16:04.800 align:start position:0% use it doesn't have the right set of 00:16:04.800 --> 00:16:06.430 align:start position:0% use it doesn't have the right set of business<00:16:05.079> models<00:16:05.399> to<00:16:05.519> be<00:16:05.639> able<00:16:05.800> to<00:16:06.000> sustain 00:16:06.430 --> 00:16:06.440 align:start position:0% business models to be able to sustain 00:16:06.440 --> 00:16:08.430 align:start position:0% business models to be able to sustain itself<00:16:07.199> so<00:16:07.360> it<00:16:07.480> goes<00:16:07.680> through<00:16:07.839> a<00:16:08.000> spike<00:16:08.319> of 00:16:08.430 --> 00:16:08.440 align:start position:0% itself so it goes through a spike of 00:16:08.440 --> 00:16:10.550 align:start position:0% itself so it goes through a spike of initial<00:16:08.880> capital<00:16:09.240> investment<00:16:10.160> and<00:16:10.279> then<00:16:10.399> as 00:16:10.550 --> 00:16:10.560 align:start position:0% initial capital investment and then as 00:16:10.560 --> 00:16:12.829 align:start position:0% initial capital investment and then as the<00:16:10.759> capital<00:16:11.120> spending<00:16:11.560> begins<00:16:11.839> to<00:16:12.000> slow<00:16:12.319> down 00:16:12.829 --> 00:16:12.839 align:start position:0% the capital spending begins to slow down 00:16:12.839 --> 00:16:14.829 align:start position:0% the capital spending begins to slow down you<00:16:13.000> wind<00:16:13.240> up<00:16:13.360> with<00:16:13.480> the<00:16:13.600> base<00:16:13.839> infrastructure 00:16:14.829 --> 00:16:14.839 align:start position:0% you wind up with the base infrastructure 00:16:14.839 --> 00:16:17.749 align:start position:0% you wind up with the base infrastructure corroding<00:16:15.839> https<00:16:16.680> is<00:16:16.839> an<00:16:17.040> example<00:16:17.399> of<00:16:17.560> that 00:16:17.749 --> 00:16:17.759 align:start position:0% corroding https is an example of that 00:16:17.759 --> 00:16:18.910 align:start position:0% corroding https is an example of that not<00:16:17.880> so<00:16:18.040> much<00:16:18.199> because<00:16:18.399> they<00:16:18.519> ran<00:16:18.680> out<00:16:18.800> of 00:16:18.910 --> 00:16:18.920 align:start position:0% not so much because they ran out of 00:16:18.920 --> 00:16:20.870 align:start position:0% not so much because they ran out of money<00:16:19.199> but<00:16:19.360> because<00:16:19.519> they<00:16:19.680> ran<00:16:19.839> out<00:16:19.959> of<00:16:20.120> smart 00:16:20.870 --> 00:16:20.880 align:start position:0% money but because they ran out of smart 00:16:20.880 --> 00:16:22.309 align:start position:0% money but because they ran out of smart people<00:16:21.120> just<00:16:21.279> stopped<00:16:21.600> caring<00:16:21.920> and<00:16:22.079> paying 00:16:22.309 --> 00:16:22.319 align:start position:0% people just stopped caring and paying 00:16:22.319 --> 00:16:24.150 align:start position:0% people just stopped caring and paying attention<00:16:23.120> because<00:16:23.319> it<00:16:23.399> was<00:16:23.519> a<00:16:23.680> technology 00:16:24.150 --> 00:16:24.160 align:start position:0% attention because it was a technology 00:16:24.160 --> 00:16:25.670 align:start position:0% attention because it was a technology that<00:16:24.279> worked<00:16:24.560> and<00:16:24.720> everybody<00:16:25.120> stopped<00:16:25.480> being 00:16:25.670 --> 00:16:25.680 align:start position:0% that worked and everybody stopped being 00:16:25.680 --> 00:16:26.910 align:start position:0% that worked and everybody stopped being worried<00:16:26.000> about 00:16:26.910 --> 00:16:26.920 align:start position:0% worried about 00:16:26.920 --> 00:16:30.389 align:start position:0% worried about it<00:16:27.920> um<00:16:29.160> can<00:16:29.319> you<00:16:29.440> see<00:16:29.600> the<00:16:29.720> parallels<00:16:30.160> to<00:16:30.279> what 00:16:30.389 --> 00:16:30.399 align:start position:0% it um can you see the parallels to what 00:16:30.399 --> 00:16:32.629 align:start position:0% it um can you see the parallels to what we're<00:16:30.519> building<00:16:30.880> now<00:16:31.319> sure<00:16:31.600> you<00:16:31.800> can<00:16:32.360> how<00:16:32.480> do 00:16:32.629 --> 00:16:32.639 align:start position:0% we're building now sure you can how do 00:16:32.639 --> 00:16:34.749 align:start position:0% we're building now sure you can how do we<00:16:32.839> make<00:16:33.079> sure<00:16:33.480> that<00:16:33.600> you<00:16:33.800> continue<00:16:34.199> to<00:16:34.399> get 00:16:34.749 --> 00:16:34.759 align:start position:0% we make sure that you continue to get 00:16:34.759 --> 00:16:37.550 align:start position:0% we make sure that you continue to get ongoing<00:16:35.360> investment<00:16:36.040> in<00:16:36.680> the<00:16:36.880> fundamental 00:16:37.550 --> 00:16:37.560 align:start position:0% ongoing investment in the fundamental 00:16:37.560 --> 00:16:40.030 align:start position:0% ongoing investment in the fundamental security<00:16:37.959> work<00:16:38.199> underlying<00:16:38.839> ethereum<00:16:39.800> such 00:16:40.030 --> 00:16:40.040 align:start position:0% security work underlying ethereum such 00:16:40.040 --> 00:16:41.350 align:start position:0% security work underlying ethereum such that<00:16:40.199> we<00:16:40.279> don't<00:16:40.480> wind<00:16:40.680> up<00:16:40.839> in<00:16:40.920> a<00:16:41.079> position 00:16:41.350 --> 00:16:41.360 align:start position:0% that we don't wind up in a position 00:16:41.360 --> 00:16:42.949 align:start position:0% that we don't wind up in a position where<00:16:41.560> the<00:16:41.680> system<00:16:41.959> becomes<00:16:42.319> insecure<00:16:42.800> and 00:16:42.949 --> 00:16:42.959 align:start position:0% where the system becomes insecure and 00:16:42.959 --> 00:16:45.350 align:start position:0% where the system becomes insecure and kind<00:16:43.079> of<00:16:43.240> rots<00:16:43.600> out<00:16:44.440> because<00:16:45.000> all<00:16:45.120> of<00:16:45.240> the 00:16:45.350 --> 00:16:45.360 align:start position:0% kind of rots out because all of the 00:16:45.360 --> 00:16:47.350 align:start position:0% kind of rots out because all of the attention<00:16:45.680> is<00:16:45.839> going<00:16:46.040> into<00:16:46.279> something 00:16:47.350 --> 00:16:47.360 align:start position:0% attention is going into something 00:16:47.360 --> 00:16:50.150 align:start position:0% attention is going into something else<00:16:48.360> right<00:16:49.160> Spike<00:16:49.480> of<00:16:49.600> funding<00:16:49.920> at<00:16:50.040> the 00:16:50.150 --> 00:16:50.160 align:start position:0% else right Spike of funding at the 00:16:50.160 --> 00:16:52.150 align:start position:0% else right Spike of funding at the beginning<00:16:50.639> long-term<00:16:51.079> maintenance<00:16:51.639> problem 00:16:52.150 --> 00:16:52.160 align:start position:0% beginning long-term maintenance problem 00:16:52.160 --> 00:16:55.790 align:start position:0% beginning long-term maintenance problem gpg<00:16:53.160> op<00:16:53.800> SSL<00:16:54.800> question<00:16:55.079> mark<00:16:55.319> question<00:16:55.560> mark 00:16:55.790 --> 00:16:55.800 align:start position:0% gpg op SSL question mark question mark 00:16:55.800 --> 00:16:57.509 align:start position:0% gpg op SSL question mark question mark question<00:16:56.040> mark<00:16:56.360> could<00:16:56.560> ethereum<00:16:57.000> go<00:16:57.160> the<00:16:57.279> same 00:16:57.509 --> 00:16:57.519 align:start position:0% question mark could ethereum go the same 00:16:57.519 --> 00:17:00.470 align:start position:0% question mark could ethereum go the same way<00:16:58.199> the<00:16:58.360> hope<00:16:58.639> is<00:16:58.959> is<00:16:59.519> that<00:16:59.759> a<00:16:59.959> technology 00:17:00.470 --> 00:17:00.480 align:start position:0% way the hope is is that a technology 00:17:00.480 --> 00:17:02.910 align:start position:0% way the hope is is that a technology that's<00:17:00.680> being<00:17:01.000> used<00:17:01.720> by<00:17:02.399> hundreds<00:17:02.759> of 00:17:02.910 --> 00:17:02.920 align:start position:0% that's being used by hundreds of 00:17:02.920 --> 00:17:05.069 align:start position:0% that's being used by hundreds of millions<00:17:03.240> of<00:17:03.440> people<00:17:03.759> every<00:17:04.120> day<00:17:04.679> would<00:17:04.839> be<00:17:04.959> in 00:17:05.069 --> 00:17:05.079 align:start position:0% millions of people every day would be in 00:17:05.079 --> 00:17:06.990 align:start position:0% millions of people every day would be in a<00:17:05.240> position<00:17:05.600> where<00:17:05.720> it<00:17:05.839> wouldn't<00:17:06.160> rot<00:17:06.480> out<00:17:06.880> but 00:17:06.990 --> 00:17:07.000 align:start position:0% a position where it wouldn't rot out but 00:17:07.000 --> 00:17:09.829 align:start position:0% a position where it wouldn't rot out but op<00:17:07.240> SSL<00:17:07.799> is<00:17:07.919> an<00:17:08.120> extremely<00:17:08.720> strong<00:17:08.919> indication 00:17:09.829 --> 00:17:09.839 align:start position:0% op SSL is an extremely strong indication 00:17:09.839 --> 00:17:12.350 align:start position:0% op SSL is an extremely strong indication that<00:17:10.000> a<00:17:10.199> security<00:17:10.839> te<00:17:11.319> technology<00:17:11.959> without<00:17:12.199> an 00:17:12.350 --> 00:17:12.360 align:start position:0% that a security te technology without an 00:17:12.360 --> 00:17:14.029 align:start position:0% that a security te technology without an ongoing<00:17:12.799> business<00:17:13.079> model<00:17:13.400> that<00:17:13.520> generates 00:17:14.029 --> 00:17:14.039 align:start position:0% ongoing business model that generates 00:17:14.039 --> 00:17:16.270 align:start position:0% ongoing business model that generates support<00:17:14.959> ceases<00:17:15.319> to<00:17:15.480> be<00:17:15.600> a<00:17:15.799> security 00:17:16.270 --> 00:17:16.280 align:start position:0% support ceases to be a security 00:17:16.280 --> 00:17:18.510 align:start position:0% support ceases to be a security technology<00:17:17.280> because<00:17:17.559> without<00:17:17.839> a<00:17:18.079> constant 00:17:18.510 --> 00:17:18.520 align:start position:0% technology because without a constant 00:17:18.520 --> 00:17:20.789 align:start position:0% technology because without a constant injection<00:17:19.280> of<00:17:19.480> the<00:17:19.640> entire<00:17:20.079> lives<00:17:20.360> of<00:17:20.600> very 00:17:20.789 --> 00:17:20.799 align:start position:0% injection of the entire lives of very 00:17:20.799 --> 00:17:23.029 align:start position:0% injection of the entire lives of very smart<00:17:21.199> people<00:17:21.919> security<00:17:22.439> Technologies 00:17:23.029 --> 00:17:23.039 align:start position:0% smart people security Technologies 00:17:23.039 --> 00:17:24.750 align:start position:0% smart people security Technologies degrade<00:17:23.799> you<00:17:23.919> don't<00:17:24.120> just<00:17:24.280> get<00:17:24.439> them<00:17:24.559> right 00:17:24.750 --> 00:17:24.760 align:start position:0% degrade you don't just get them right 00:17:24.760 --> 00:17:26.710 align:start position:0% degrade you don't just get them right and<00:17:24.880> walk<00:17:25.120> away<00:17:25.679> you<00:17:25.799> need<00:17:26.240> constant 00:17:26.710 --> 00:17:26.720 align:start position:0% and walk away you need constant 00:17:26.720 --> 00:17:28.510 align:start position:0% and walk away you need constant Innovation<00:17:27.199> and<00:17:27.400> constant<00:17:27.839> watchfulness<00:17:28.360> for 00:17:28.510 --> 00:17:28.520 align:start position:0% Innovation and constant watchfulness for 00:17:28.520 --> 00:17:29.750 align:start position:0% Innovation and constant watchfulness for them<00:17:28.640> to 00:17:29.750 --> 00:17:29.760 align:start position:0% them to 00:17:29.760 --> 00:17:32.789 align:start position:0% them to work<00:17:30.760> and<00:17:31.160> we're<00:17:31.400> in<00:17:31.480> a<00:17:31.640> position<00:17:32.120> right<00:17:32.320> now 00:17:32.789 --> 00:17:32.799 align:start position:0% work and we're in a position right now 00:17:32.799 --> 00:17:35.150 align:start position:0% work and we're in a position right now where<00:17:33.320> we<00:17:33.440> need<00:17:33.600> to<00:17:33.840> structure<00:17:34.320> the<00:17:34.480> ethereum 00:17:35.150 --> 00:17:35.160 align:start position:0% where we need to structure the ethereum 00:17:35.160 --> 00:17:37.750 align:start position:0% where we need to structure the ethereum effort<00:17:36.000> in<00:17:36.200> such<00:17:36.360> a<00:17:36.480> way<00:17:36.640> as<00:17:36.760> we<00:17:37.039> avoid<00:17:37.559> this 00:17:37.750 --> 00:17:37.760 align:start position:0% effort in such a way as we avoid this 00:17:37.760 --> 00:17:40.830 align:start position:0% effort in such a way as we avoid this Core<00:17:38.200> lesson<00:17:38.919> of<00:17:39.080> the<00:17:39.240> cipher<00:17:39.640> panira<00:17:40.640> which 00:17:40.830 --> 00:17:40.840 align:start position:0% Core lesson of the cipher panira which 00:17:40.840 --> 00:17:42.590 align:start position:0% Core lesson of the cipher panira which is<00:17:41.240> if<00:17:41.320> you<00:17:41.440> don't<00:17:41.679> figure<00:17:41.919> out<00:17:42.160> how<00:17:42.280> to<00:17:42.440> pay 00:17:42.590 --> 00:17:42.600 align:start position:0% is if you don't figure out how to pay 00:17:42.600 --> 00:17:44.230 align:start position:0% is if you don't figure out how to pay for<00:17:42.760> the<00:17:42.880> maintenance<00:17:43.320> and<00:17:43.480> the<00:17:43.640> continual 00:17:44.230 --> 00:17:44.240 align:start position:0% for the maintenance and the continual 00:17:44.240 --> 00:17:46.390 align:start position:0% for the maintenance and the continual reinvention<00:17:44.919> of<00:17:45.080> your<00:17:45.240> tools<00:17:46.000> eventually 00:17:46.390 --> 00:17:46.400 align:start position:0% reinvention of your tools eventually 00:17:46.400 --> 00:17:48.029 align:start position:0% reinvention of your tools eventually your<00:17:46.520> tools<00:17:46.760> are<00:17:46.919> no<00:17:47.080> longer 00:17:48.029 --> 00:17:48.039 align:start position:0% your tools are no longer 00:17:48.039 --> 00:17:51.350 align:start position:0% your tools are no longer trusted<00:17:49.039> right<00:17:49.360> we<00:17:49.600> must<00:17:50.039> secure<00:17:50.480> the<00:17:50.679> base 00:17:51.350 --> 00:17:51.360 align:start position:0% trusted right we must secure the base 00:17:51.360 --> 00:17:53.430 align:start position:0% trusted right we must secure the base and<00:17:51.559> that<00:17:51.679> means<00:17:52.120> Public<00:17:52.440> Works<00:17:53.000> style 00:17:53.430 --> 00:17:53.440 align:start position:0% and that means Public Works style 00:17:53.440 --> 00:17:55.830 align:start position:0% and that means Public Works style spending<00:17:54.440> going<00:17:54.720> into<00:17:55.039> the<00:17:55.200> core<00:17:55.440> under 00:17:55.830 --> 00:17:55.840 align:start position:0% spending going into the core under 00:17:55.840 --> 00:17:58.230 align:start position:0% spending going into the core under structures<00:17:56.280> that<00:17:56.480> pay<00:17:56.720> for<00:17:57.480> the<00:17:57.760> ongoing 00:17:58.230 --> 00:17:58.240 align:start position:0% structures that pay for the ongoing 00:17:58.240 --> 00:17:59.549 align:start position:0% structures that pay for the ongoing development<00:17:58.880> but<00:17:59.039> especially<00:17:59.440> the 00:17:59.549 --> 00:17:59.559 align:start position:0% development but especially the 00:17:59.559 --> 00:18:02.029 align:start position:0% development but especially the maintenance<00:18:00.159> of<00:18:00.280> the<00:18:00.400> core<00:18:01.039> Technologies 00:18:02.029 --> 00:18:02.039 align:start position:0% maintenance of the core Technologies 00:18:02.039 --> 00:18:05.990 align:start position:0% maintenance of the core Technologies this<00:18:02.200> is<00:18:02.440> the<00:18:02.679> Core<00:18:03.440> lesson<00:18:04.640> um<00:18:05.640> I'm<00:18:05.760> going<00:18:05.840> to 00:18:05.990 --> 00:18:06.000 align:start position:0% this is the Core lesson um I'm going to 00:18:06.000 --> 00:18:08.390 align:start position:0% this is the Core lesson um I'm going to talk<00:18:06.280> very<00:18:06.520> briefly<00:18:06.960> about<00:18:07.159> user<00:18:07.480> interface 00:18:08.390 --> 00:18:08.400 align:start position:0% talk very briefly about user interface 00:18:08.400 --> 00:18:10.029 align:start position:0% talk very briefly about user interface and<00:18:08.480> then<00:18:08.600> I'm<00:18:08.679> going<00:18:08.799> to<00:18:08.919> come<00:18:09.000> to<00:18:09.159> the<00:18:09.280> third 00:18:10.029 --> 00:18:10.039 align:start position:0% and then I'm going to come to the third 00:18:10.039 --> 00:18:12.750 align:start position:0% and then I'm going to come to the third hypothesis<00:18:11.039> so<00:18:11.679> everybody<00:18:12.080> knows<00:18:12.320> that<00:18:12.480> user 00:18:12.750 --> 00:18:12.760 align:start position:0% hypothesis so everybody knows that user 00:18:12.760 --> 00:18:14.789 align:start position:0% hypothesis so everybody knows that user interface<00:18:13.159> on<00:18:13.440> security 00:18:14.789 --> 00:18:14.799 align:start position:0% interface on security 00:18:14.799 --> 00:18:17.390 align:start position:0% interface on security sucks<00:18:15.799> however<00:18:16.480> the<00:18:16.679> problem<00:18:16.960> with<00:18:17.120> user 00:18:17.390 --> 00:18:17.400 align:start position:0% sucks however the problem with user 00:18:17.400 --> 00:18:19.070 align:start position:0% sucks however the problem with user interface<00:18:17.799> on<00:18:18.000> security<00:18:18.400> is<00:18:18.559> usually<00:18:18.919> that 00:18:19.070 --> 00:18:19.080 align:start position:0% interface on security is usually that 00:18:19.080 --> 00:18:21.430 align:start position:0% interface on security is usually that the<00:18:19.240> security<00:18:19.679> model<00:18:20.080> sucks<00:18:20.960> and<00:18:21.080> there's<00:18:21.280> no 00:18:21.430 --> 00:18:21.440 align:start position:0% the security model sucks and there's no 00:18:21.440 --> 00:18:23.230 align:start position:0% the security model sucks and there's no way<00:18:21.600> to<00:18:21.760> take<00:18:21.960> a<00:18:22.159> security<00:18:22.520> model<00:18:22.840> that<00:18:22.960> sucks 00:18:23.230 --> 00:18:23.240 align:start position:0% way to take a security model that sucks 00:18:23.240 --> 00:18:24.710 align:start position:0% way to take a security model that sucks and<00:18:23.360> then<00:18:23.480> put<00:18:23.600> your<00:18:23.720> layer<00:18:24.039> user<00:18:24.320> interface 00:18:24.710 --> 00:18:24.720 align:start position:0% and then put your layer user interface 00:18:24.720 --> 00:18:27.870 align:start position:0% and then put your layer user interface over<00:18:24.960> the<00:18:25.120> top<00:18:25.280> of<00:18:25.400> it<00:18:25.840> and<00:18:26.000> make<00:18:26.159> it<00:18:26.400> not<00:18:26.880> suck 00:18:27.870 --> 00:18:27.880 align:start position:0% over the top of it and make it not suck 00:18:27.880 --> 00:18:30.549 align:start position:0% over the top of it and make it not suck so<00:18:28.280> in<00:18:28.440> GP<00:18:28.919> G<00:18:29.240> the<00:18:29.320> suck<00:18:29.640> is<00:18:29.799> produced<00:18:30.240> by<00:18:30.360> the 00:18:30.549 --> 00:18:30.559 align:start position:0% so in GP G the suck is produced by the 00:18:30.559 --> 00:18:32.870 align:start position:0% so in GP G the suck is produced by the fact<00:18:31.159> that<00:18:31.280> you<00:18:31.480> cannot<00:18:31.840> directly<00:18:32.440> attribute 00:18:32.870 --> 00:18:32.880 align:start position:0% fact that you cannot directly attribute 00:18:32.880 --> 00:18:36.149 align:start position:0% fact that you cannot directly attribute a<00:18:33.080> key<00:18:33.320> to<00:18:33.480> a<00:18:33.880> person<00:18:34.880> you<00:18:35.039> have<00:18:35.120> to<00:18:35.320> go<00:18:35.760> person 00:18:36.149 --> 00:18:36.159 align:start position:0% a key to a person you have to go person 00:18:36.159 --> 00:18:39.789 align:start position:0% a key to a person you have to go person to<00:18:36.400> email<00:18:36.840> address<00:18:37.559> email<00:18:37.960> address<00:18:38.320> to<00:18:38.559> key<00:18:39.440> so 00:18:39.789 --> 00:18:39.799 align:start position:0% to email address email address to key so 00:18:39.799 --> 00:18:42.390 align:start position:0% to email address email address to key so you<00:18:39.960> have<00:18:40.120> a<00:18:40.400> two-step<00:18:41.120> mapping<00:18:41.640> problem<00:18:42.240> and 00:18:42.390 --> 00:18:42.400 align:start position:0% you have a two-step mapping problem and 00:18:42.400 --> 00:18:44.310 align:start position:0% you have a two-step mapping problem and building<00:18:42.720> a<00:18:42.880> user<00:18:43.200> interface<00:18:43.600> for<00:18:43.840> two-step 00:18:44.310 --> 00:18:44.320 align:start position:0% building a user interface for two-step 00:18:44.320 --> 00:18:46.590 align:start position:0% building a user interface for two-step mapping<00:18:44.640> problem<00:18:45.039> is<00:18:45.159> a<00:18:45.320> nightmare<00:18:46.320> what<00:18:46.440> you 00:18:46.590 --> 00:18:46.600 align:start position:0% mapping problem is a nightmare what you 00:18:46.600 --> 00:18:49.190 align:start position:0% mapping problem is a nightmare what you actually<00:18:46.840> wanted<00:18:47.200> was<00:18:47.320> a<00:18:47.440> simple<00:18:48.200> mechanism 00:18:49.190 --> 00:18:49.200 align:start position:0% actually wanted was a simple mechanism 00:18:49.200 --> 00:18:52.190 align:start position:0% actually wanted was a simple mechanism human<00:18:49.520> being<00:18:50.080> to<00:18:50.559> key<00:18:51.360> and<00:18:51.480> then<00:18:51.600> I<00:18:51.760> take<00:18:52.000> the 00:18:52.190 --> 00:18:52.200 align:start position:0% human being to key and then I take the 00:18:52.200 --> 00:18:54.710 align:start position:0% human being to key and then I take the key<00:18:52.880> and<00:18:52.960> I<00:18:53.080> look<00:18:53.280> up<00:18:53.440> a<00:18:53.640> server<00:18:54.440> and<00:18:54.600> the 00:18:54.710 --> 00:18:54.720 align:start position:0% key and I look up a server and the 00:18:54.720 --> 00:18:56.430 align:start position:0% key and I look up a server and the server<00:18:55.120> tells<00:18:55.400> me<00:18:55.640> what<00:18:55.760> the<00:18:55.919> delivery 00:18:56.430 --> 00:18:56.440 align:start position:0% server tells me what the delivery 00:18:56.440 --> 00:18:58.070 align:start position:0% server tells me what the delivery mechanism<00:18:56.960> is<00:18:57.120> that<00:18:57.240> is<00:18:57.400> attached<00:18:57.760> to<00:18:57.919> that 00:18:58.070 --> 00:18:58.080 align:start position:0% mechanism is that is attached to that 00:18:58.080 --> 00:19:00.870 align:start position:0% mechanism is that is attached to that key<00:18:58.960> so<00:18:59.120> you<00:18:59.240> have<00:18:59.400> essentially<00:18:59.760> a<00:18:59.840> key<00:19:00.080> server 00:19:00.870 --> 00:19:00.880 align:start position:0% key so you have essentially a key server 00:19:00.880 --> 00:19:02.669 align:start position:0% key so you have essentially a key server I<00:19:01.000> signed<00:19:01.320> an<00:19:01.520> instruction<00:19:02.039> that<00:19:02.159> says<00:19:02.400> send 00:19:02.669 --> 00:19:02.679 align:start position:0% I signed an instruction that says send 00:19:02.679 --> 00:19:05.070 align:start position:0% I signed an instruction that says send all<00:19:02.840> the<00:19:02.960> messages<00:19:03.320> to<00:19:03.559> this<00:19:03.799> key<00:19:04.679> that<00:19:04.760> are<00:19:04.919> in 00:19:05.070 --> 00:19:05.080 align:start position:0% all the messages to this key that are in 00:19:05.080 --> 00:19:06.750 align:start position:0% all the messages to this key that are in email<00:19:05.440> format<00:19:05.799> to<00:19:06.000> this<00:19:06.120> address<00:19:06.400> and<00:19:06.559> all 00:19:06.750 --> 00:19:06.760 align:start position:0% email format to this address and all 00:19:06.760 --> 00:19:08.149 align:start position:0% email format to this address and all messages<00:19:07.080> for<00:19:07.240> this<00:19:07.400> key<00:19:07.600> which<00:19:07.720> are<00:19:07.799> in<00:19:07.919> trap 00:19:08.149 --> 00:19:08.159 align:start position:0% messages for this key which are in trap 00:19:08.159 --> 00:19:10.110 align:start position:0% messages for this key which are in trap form<00:19:08.360> out<00:19:08.520> of<00:19:08.720> that<00:19:08.880> address<00:19:09.600> does<00:19:09.760> anybody 00:19:10.110 --> 00:19:10.120 align:start position:0% form out of that address does anybody 00:19:10.120 --> 00:19:11.789 align:start position:0% form out of that address does anybody know<00:19:10.280> about<00:19:10.400> a<00:19:10.480> thing<00:19:10.640> called<00:19:10.880> Web 00:19:11.789 --> 00:19:11.799 align:start position:0% know about a thing called Web 00:19:11.799 --> 00:19:14.830 align:start position:0% know about a thing called Web finger<00:19:12.919> it's<00:19:13.919> a<00:19:14.000> thing<00:19:14.159> invented<00:19:14.520> by<00:19:14.640> guy 00:19:14.830 --> 00:19:14.840 align:start position:0% finger it's a thing invented by guy 00:19:14.840 --> 00:19:17.029 align:start position:0% finger it's a thing invented by guy called<00:19:15.039> Blaine<00:19:15.440> cook<00:19:15.799> who<00:19:16.000> was<00:19:16.640> I<00:19:16.720> think<00:19:16.880> the 00:19:17.029 --> 00:19:17.039 align:start position:0% called Blaine cook who was I think the 00:19:17.039 --> 00:19:19.270 align:start position:0% called Blaine cook who was I think the first<00:19:17.280> CTO<00:19:17.760> for<00:19:17.960> Twitter<00:19:18.679> certainly<00:19:19.000> wrote<00:19:19.200> a 00:19:19.270 --> 00:19:19.280 align:start position:0% first CTO for Twitter certainly wrote a 00:19:19.280 --> 00:19:20.950 align:start position:0% first CTO for Twitter certainly wrote a lot<00:19:19.400> of<00:19:19.480> the<00:19:19.559> early<00:19:19.799> Twitter<00:19:20.159> stuff<00:19:20.799> and 00:19:20.950 --> 00:19:20.960 align:start position:0% lot of the early Twitter stuff and 00:19:20.960 --> 00:19:23.470 align:start position:0% lot of the early Twitter stuff and Blaine<00:19:21.280> has<00:19:21.400> a<00:19:21.520> technology<00:19:22.000> called<00:19:22.240> Web<00:19:22.520> figer 00:19:23.470 --> 00:19:23.480 align:start position:0% Blaine has a technology called Web figer 00:19:23.480 --> 00:19:25.710 align:start position:0% Blaine has a technology called Web figer which<00:19:23.720> basically<00:19:24.679> uh<00:19:25.000> is<00:19:25.120> a<00:19:25.280> method<00:19:25.559> of 00:19:25.710 --> 00:19:25.720 align:start position:0% which basically uh is a method of 00:19:25.720 --> 00:19:27.470 align:start position:0% which basically uh is a method of finding<00:19:26.240> all<00:19:26.400> of<00:19:26.559> the<00:19:26.679> entry<00:19:27.039> points<00:19:27.280> for 00:19:27.470 --> 00:19:27.480 align:start position:0% finding all of the entry points for 00:19:27.480 --> 00:19:29.470 align:start position:0% finding all of the entry points for communicating<00:19:28.120> with<00:19:28.280> somebody<00:19:29.080> using<00:19:29.320> a 00:19:29.470 --> 00:19:29.480 align:start position:0% communicating with somebody using a 00:19:29.480 --> 00:19:32.029 align:start position:0% communicating with somebody using a simple<00:19:29.880> protocol<00:19:30.880> and<00:19:31.200> something<00:19:31.559> like<00:19:31.760> web 00:19:32.029 --> 00:19:32.039 align:start position:0% simple protocol and something like web 00:19:32.039 --> 00:19:34.549 align:start position:0% simple protocol and something like web finger<00:19:32.360> for<00:19:32.799> crypto<00:19:33.799> uh<00:19:33.919> would<00:19:34.080> allow<00:19:34.320> you<00:19:34.440> to 00:19:34.549 --> 00:19:34.559 align:start position:0% finger for crypto uh would allow you to 00:19:34.559 --> 00:19:36.669 align:start position:0% finger for crypto uh would allow you to do<00:19:34.760> this<00:19:34.919> kind<00:19:35.039> of<00:19:35.240> very<00:19:35.520> elegant<00:19:36.000> management 00:19:36.669 --> 00:19:36.679 align:start position:0% do this kind of very elegant management 00:19:36.679 --> 00:19:39.549 align:start position:0% do this kind of very elegant management of<00:19:37.320> I<00:19:37.400> want<00:19:37.480> to<00:19:37.640> talk<00:19:37.760> to<00:19:38.039> this<00:19:38.320> person<00:19:39.240> this<00:19:39.400> is 00:19:39.549 --> 00:19:39.559 align:start position:0% of I want to talk to this person this is 00:19:39.559 --> 00:19:41.830 align:start position:0% of I want to talk to this person this is the<00:19:39.760> key<00:19:40.520> I<00:19:40.679> then<00:19:41.039> identify<00:19:41.600> all<00:19:41.720> the 00:19:41.830 --> 00:19:41.840 align:start position:0% the key I then identify all the 00:19:41.840 --> 00:19:43.310 align:start position:0% the key I then identify all the different<00:19:42.120> methods<00:19:42.559> the<00:19:42.679> end<00:19:42.960> points<00:19:43.159> for 00:19:43.310 --> 00:19:43.320 align:start position:0% different methods the end points for 00:19:43.320 --> 00:19:45.390 align:start position:0% different methods the end points for communicating<00:19:43.880> them<00:19:44.240> automatically<00:19:45.240> then 00:19:45.390 --> 00:19:45.400 align:start position:0% communicating them automatically then 00:19:45.400 --> 00:19:46.750 align:start position:0% communicating them automatically then you<00:19:45.520> could<00:19:45.720> continue<00:19:46.039> to<00:19:46.200> innovate<00:19:46.600> from 00:19:46.750 --> 00:19:46.760 align:start position:0% you could continue to innovate from 00:19:46.760 --> 00:19:48.029 align:start position:0% you could continue to innovate from technology<00:19:47.240> to<00:19:47.440> technology<00:19:47.840> for 00:19:48.029 --> 00:19:48.039 align:start position:0% technology to technology for 00:19:48.039 --> 00:19:49.270 align:start position:0% technology to technology for communication<00:19:48.640> but<00:19:48.799> keep<00:19:48.960> the<00:19:49.080> same 00:19:49.270 --> 00:19:49.280 align:start position:0% communication but keep the same 00:19:49.280 --> 00:19:52.110 align:start position:0% communication but keep the same identities<00:19:49.720> in<00:19:49.840> the<00:19:49.960> key<00:19:50.559> space<00:19:51.559> all<00:19:51.760> of<00:19:51.919> these 00:19:52.110 --> 00:19:52.120 align:start position:0% identities in the key space all of these 00:19:52.120 --> 00:19:53.870 align:start position:0% identities in the key space all of these usability<00:19:52.840> problems<00:19:53.200> when<00:19:53.320> you<00:19:53.440> drill<00:19:53.760> all 00:19:53.870 --> 00:19:53.880 align:start position:0% usability problems when you drill all 00:19:53.880 --> 00:19:55.789 align:start position:0% usability problems when you drill all the<00:19:54.000> way<00:19:54.200> down<00:19:54.480> turn<00:19:54.679> out<00:19:54.840> to<00:19:54.919> be<00:19:55.120> conceptual 00:19:55.789 --> 00:19:55.799 align:start position:0% the way down turn out to be conceptual 00:19:55.799 --> 00:19:58.990 align:start position:0% the way down turn out to be conceptual problems<00:19:56.799> viciously<00:19:57.360> complicated<00:19:58.280> method<00:19:58.840> of 00:19:58.990 --> 00:19:59.000 align:start position:0% problems viciously complicated method of 00:19:59.000 --> 00:20:01.110 align:start position:0% problems viciously complicated method of thinking<00:19:59.320> about<00:19:59.520> the<00:19:59.679> security<00:20:00.240> problem<00:20:00.919> that 00:20:01.110 --> 00:20:01.120 align:start position:0% thinking about the security problem that 00:20:01.120 --> 00:20:03.070 align:start position:0% thinking about the security problem that result<00:20:01.440> in<00:20:01.720> terrible<00:20:02.200> decadent<00:20:02.640> user 00:20:03.070 --> 00:20:03.080 align:start position:0% result in terrible decadent user 00:20:03.080 --> 00:20:05.350 align:start position:0% result in terrible decadent user interfaces<00:20:04.080> you<00:20:04.320> have<00:20:04.440> to<00:20:04.640> get<00:20:04.799> back<00:20:04.960> to<00:20:05.120> the 00:20:05.350 --> 00:20:05.360 align:start position:0% interfaces you have to get back to the 00:20:05.360 --> 00:20:07.830 align:start position:0% interfaces you have to get back to the absolute<00:20:05.919> Primal<00:20:06.360> fundamentals<00:20:07.120> of<00:20:07.360> security 00:20:07.830 --> 00:20:07.840 align:start position:0% absolute Primal fundamentals of security 00:20:07.840 --> 00:20:09.830 align:start position:0% absolute Primal fundamentals of security design<00:20:08.559> if<00:20:08.679> you're<00:20:08.799> going<00:20:08.919> to<00:20:09.080> build<00:20:09.320> toolkits 00:20:09.830 --> 00:20:09.840 align:start position:0% design if you're going to build toolkits 00:20:09.840 --> 00:20:12.110 align:start position:0% design if you're going to build toolkits that<00:20:10.000> Ordinary<00:20:10.480> People<00:20:10.679> could<00:20:10.880> use<00:20:11.720> how<00:20:11.880> many 00:20:12.110 --> 00:20:12.120 align:start position:0% that Ordinary People could use how many 00:20:12.120 --> 00:20:14.029 align:start position:0% that Ordinary People could use how many people<00:20:12.320> want<00:20:12.440> to<00:20:12.559> see<00:20:12.760> a<00:20:12.919> world<00:20:13.520> with<00:20:13.720> mass 00:20:14.029 --> 00:20:14.039 align:start position:0% people want to see a world with mass 00:20:14.039 --> 00:20:16.270 align:start position:0% people want to see a world with mass adoption<00:20:14.400> of<00:20:14.520> cryptography<00:20:15.159> by<00:20:15.360> civilians 00:20:16.270 --> 00:20:16.280 align:start position:0% adoption of cryptography by civilians 00:20:16.280 --> 00:20:17.710 align:start position:0% adoption of cryptography by civilians because<00:20:16.520> they're<00:20:16.720> using<00:20:17.000> smart<00:20:17.360> contracts 00:20:17.710 --> 00:20:17.720 align:start position:0% because they're using smart contracts 00:20:17.720 --> 00:20:21.190 align:start position:0% because they're using smart contracts and<00:20:17.960> daps<00:20:18.919> if<00:20:19.120> so<00:20:19.720> you<00:20:19.960> got<00:20:20.120> a<00:20:20.280> nailed<00:20:20.720> down 00:20:21.190 --> 00:20:21.200 align:start position:0% and daps if so you got a nailed down 00:20:21.200 --> 00:20:23.110 align:start position:0% and daps if so you got a nailed down exactly<00:20:21.640> what<00:20:21.799> you're<00:20:21.919> trying<00:20:22.159> to<00:20:22.320> build 00:20:23.110 --> 00:20:23.120 align:start position:0% exactly what you're trying to build 00:20:23.120 --> 00:20:25.029 align:start position:0% exactly what you're trying to build because<00:20:23.360> you<00:20:23.600> cannot<00:20:24.000> fix<00:20:24.280> the<00:20:24.480> conceptual 00:20:25.029 --> 00:20:25.039 align:start position:0% because you cannot fix the conceptual 00:20:25.039 --> 00:20:26.470 align:start position:0% because you cannot fix the conceptual problems<00:20:25.320> in<00:20:25.559> security<00:20:26.000> at<00:20:26.120> the<00:20:26.200> user 00:20:26.470 --> 00:20:26.480 align:start position:0% problems in security at the user 00:20:26.480 --> 00:20:28.750 align:start position:0% problems in security at the user interface<00:20:27.000> level<00:20:27.760> they<00:20:27.960> have<00:20:28.120> to<00:20:28.200> be<00:20:28.320> fixed<00:20:28.679> at 00:20:28.750 --> 00:20:28.760 align:start position:0% interface level they have to be fixed at 00:20:28.760 --> 00:20:31.149 align:start position:0% interface level they have to be fixed at the<00:20:28.880> fundamental<00:20:29.480> level<00:20:30.400> simple<00:20:30.799> clear 00:20:31.149 --> 00:20:31.159 align:start position:0% the fundamental level simple clear 00:20:31.159 --> 00:20:33.710 align:start position:0% the fundamental level simple clear thinking<00:20:31.520> about<00:20:31.760> the<00:20:31.919> core<00:20:32.400> idea<00:20:33.120> resulted 00:20:33.710 --> 00:20:33.720 align:start position:0% thinking about the core idea resulted 00:20:33.720 --> 00:20:36.310 align:start position:0% thinking about the core idea resulted simple<00:20:34.039> clean<00:20:34.760> interfaces<00:20:35.760> uh<00:20:35.919> the<00:20:36.039> way<00:20:36.240> the 00:20:36.310 --> 00:20:36.320 align:start position:0% simple clean interfaces uh the way the 00:20:36.320 --> 00:20:38.350 align:start position:0% simple clean interfaces uh the way the truth<00:20:36.640> in<00:20:36.760> the<00:20:36.880> white<00:20:37.080> on<00:20:37.280> this<00:20:37.559> is<00:20:37.679> a<00:20:37.919> standard 00:20:38.350 --> 00:20:38.360 align:start position:0% truth in the white on this is a standard 00:20:38.360 --> 00:20:41.190 align:start position:0% truth in the white on this is a standard called<00:20:39.080> spki<00:20:40.080> Simple<00:20:40.480> public<00:20:40.840> key 00:20:41.190 --> 00:20:41.200 align:start position:0% called spki Simple public key 00:20:41.200 --> 00:20:43.390 align:start position:0% called spki Simple public key infrastructure<00:20:42.200> that<00:20:42.360> lost<00:20:42.720> out<00:20:42.919> to<00:20:43.080> both<00:20:43.280> the 00:20:43.390 --> 00:20:43.400 align:start position:0% infrastructure that lost out to both the 00:20:43.400 --> 00:20:45.830 align:start position:0% infrastructure that lost out to both the gpg<00:20:43.919> web<00:20:44.159> of<00:20:44.320> trust<00:20:44.720> and<00:20:44.880> the<00:20:45.000> x509 00:20:45.830 --> 00:20:45.840 align:start position:0% gpg web of trust and the x509 00:20:45.840 --> 00:20:47.750 align:start position:0% gpg web of trust and the x509 infrastructure<00:20:46.799> but<00:20:46.960> it<00:20:47.080> could<00:20:47.200> have<00:20:47.360> fixed 00:20:47.750 --> 00:20:47.760 align:start position:0% infrastructure but it could have fixed 00:20:47.760 --> 00:20:49.029 align:start position:0% infrastructure but it could have fixed both 00:20:49.029 --> 00:20:49.039 align:start position:0% both 00:20:49.039 --> 00:20:52.710 align:start position:0% both problems<00:20:50.039> um<00:20:50.799> now<00:20:51.760> the<00:20:51.919> final<00:20:52.240> principle<00:20:52.640> that 00:20:52.710 --> 00:20:52.720 align:start position:0% problems um now the final principle that 00:20:52.720 --> 00:20:55.110 align:start position:0% problems um now the final principle that I<00:20:52.840> want<00:20:52.919> to<00:20:53.039> talk<00:20:53.280> about<00:20:53.679> is<00:20:54.039> generative 00:20:55.110 --> 00:20:55.120 align:start position:0% I want to talk about is generative 00:20:55.120 --> 00:20:57.510 align:start position:0% I want to talk about is generative complexity<00:20:56.120> and<00:20:56.280> this<00:20:56.400> is<00:20:56.799> quite<00:20:57.039> slippery 00:20:57.510 --> 00:20:57.520 align:start position:0% complexity and this is quite slippery 00:20:57.520 --> 00:20:59.190 align:start position:0% complexity and this is quite slippery and<00:20:57.720> hard<00:20:57.919> to<00:20:58.120> describe 00:20:59.190 --> 00:20:59.200 align:start position:0% and hard to describe 00:20:59.200 --> 00:21:02.190 align:start position:0% and hard to describe but<00:20:59.360> I<00:20:59.440> think<00:20:59.600> it<00:20:59.720> is<00:21:00.080> a<00:21:00.960> fundamental<00:21:01.960> uh 00:21:02.190 --> 00:21:02.200 align:start position:0% but I think it is a fundamental uh 00:21:02.200 --> 00:21:05.430 align:start position:0% but I think it is a fundamental uh analytical<00:21:03.200> tool<00:21:04.200> for<00:21:04.880> framing<00:21:05.320> the 00:21:05.430 --> 00:21:05.440 align:start position:0% analytical tool for framing the 00:21:05.440 --> 00:21:07.029 align:start position:0% analytical tool for framing the difference<00:21:05.799> between<00:21:06.080> systems<00:21:06.480> that<00:21:06.679> live<00:21:06.840> and 00:21:07.029 --> 00:21:07.039 align:start position:0% difference between systems that live and 00:21:07.039 --> 00:21:08.270 align:start position:0% difference between systems that live and systems<00:21:07.400> that 00:21:08.270 --> 00:21:08.280 align:start position:0% systems that 00:21:08.280 --> 00:21:12.230 align:start position:0% systems that stall<00:21:09.280> so<00:21:10.200> the<00:21:10.360> cipher<00:21:10.799> Punk<00:21:11.080> Vision<00:21:12.000> was 00:21:12.230 --> 00:21:12.240 align:start position:0% stall so the cipher Punk Vision was 00:21:12.240 --> 00:21:13.750 align:start position:0% stall so the cipher Punk Vision was essentially<00:21:12.720> that<00:21:13.000> individual<00:21:13.559> to 00:21:13.750 --> 00:21:13.760 align:start position:0% essentially that individual to 00:21:13.760 --> 00:21:15.990 align:start position:0% essentially that individual to individual<00:21:14.440> communication<00:21:15.440> was<00:21:15.640> going<00:21:15.799> to 00:21:15.990 --> 00:21:16.000 align:start position:0% individual communication was going to 00:21:16.000 --> 00:21:18.390 align:start position:0% individual communication was going to result<00:21:16.480> in<00:21:16.720> the<00:21:17.159> magical<00:21:17.720> ability<00:21:18.159> to 00:21:18.390 --> 00:21:18.400 align:start position:0% result in the magical ability to 00:21:18.400 --> 00:21:20.310 align:start position:0% result in the magical ability to construct<00:21:18.919> increasingly<00:21:19.520> complex<00:21:19.960> social 00:21:20.310 --> 00:21:20.320 align:start position:0% construct increasingly complex social 00:21:20.320 --> 00:21:22.549 align:start position:0% construct increasingly complex social structures<00:21:21.320> that<00:21:21.440> would<00:21:21.640> eventually<00:21:22.080> rise<00:21:22.400> to 00:21:22.549 --> 00:21:22.559 align:start position:0% structures that would eventually rise to 00:21:22.559 --> 00:21:24.110 align:start position:0% structures that would eventually rise to the<00:21:22.679> point<00:21:22.840> of<00:21:22.960> being 00:21:24.110 --> 00:21:24.120 align:start position:0% the point of being 00:21:24.120 --> 00:21:26.710 align:start position:0% the point of being institutions<00:21:25.120> and<00:21:25.640> the<00:21:25.880> problem<00:21:26.279> with<00:21:26.520> this 00:21:26.710 --> 00:21:26.720 align:start position:0% institutions and the problem with this 00:21:26.720 --> 00:21:30.510 align:start position:0% institutions and the problem with this approach<00:21:27.360> is<00:21:27.559> that<00:21:27.720> it<00:21:28.039> just<00:21:28.679> doesn't<00:21:29.400> work<00:21:30.400> it 00:21:30.510 --> 00:21:30.520 align:start position:0% approach is that it just doesn't work it 00:21:30.520 --> 00:21:32.789 align:start position:0% approach is that it just doesn't work it ain't<00:21:30.799> that<00:21:30.960> way<00:21:31.120> at<00:21:31.240> all<00:21:32.159> anytime<00:21:32.520> you<00:21:32.640> want 00:21:32.789 --> 00:21:32.799 align:start position:0% ain't that way at all anytime you want 00:21:32.799 --> 00:21:34.830 align:start position:0% ain't that way at all anytime you want to<00:21:32.919> build<00:21:33.120> an<00:21:33.320> institution<00:21:34.200> anytime<00:21:34.559> you<00:21:34.679> want 00:21:34.830 --> 00:21:34.840 align:start position:0% to build an institution anytime you want 00:21:34.840 --> 00:21:36.950 align:start position:0% to build an institution anytime you want to<00:21:34.960> build<00:21:35.159> a<00:21:35.320> game<00:21:35.520> with<00:21:35.720> rules<00:21:36.640> if<00:21:36.760> there's 00:21:36.950 --> 00:21:36.960 align:start position:0% to build a game with rules if there's 00:21:36.960 --> 00:21:39.269 align:start position:0% to build a game with rules if there's any<00:21:37.240> degree<00:21:37.480> of<00:21:37.679> complexity<00:21:38.640> you<00:21:38.840> wind<00:21:39.080> up 00:21:39.269 --> 00:21:39.279 align:start position:0% any degree of complexity you wind up 00:21:39.279 --> 00:21:41.669 align:start position:0% any degree of complexity you wind up building<00:21:39.840> things<00:21:40.240> which<00:21:40.400> are<00:21:41.159> meta 00:21:41.669 --> 00:21:41.679 align:start position:0% building things which are meta 00:21:41.679 --> 00:21:43.990 align:start position:0% building things which are meta structures<00:21:42.400> on<00:21:42.720> top<00:21:42.919> of<00:21:43.039> your<00:21:43.240> initial<00:21:43.600> core 00:21:43.990 --> 00:21:44.000 align:start position:0% structures on top of your initial core 00:21:44.000 --> 00:21:46.669 align:start position:0% structures on top of your initial core structure<00:21:45.000> so<00:21:45.440> a<00:21:45.600> typical<00:21:45.919> meta<00:21:46.279> structure 00:21:46.669 --> 00:21:46.679 align:start position:0% structure so a typical meta structure 00:21:46.679 --> 00:21:48.310 align:start position:0% structure so a typical meta structure would<00:21:46.840> be<00:21:47.039> a<00:21:47.159> game<00:21:47.360> of<00:21:47.520> soccer<00:21:47.960> in<00:21:48.080> which<00:21:48.200> you 00:21:48.310 --> 00:21:48.320 align:start position:0% would be a game of soccer in which you 00:21:48.320 --> 00:21:51.630 align:start position:0% would be a game of soccer in which you have<00:21:48.440> a<00:21:48.600> refuge<00:21:49.120> a<00:21:49.279> referee<00:21:49.960> Refugee<00:21:50.679> sorry 00:21:51.630 --> 00:21:51.640 align:start position:0% have a refuge a referee Refugee sorry 00:21:51.640 --> 00:21:53.190 align:start position:0% have a refuge a referee Refugee sorry game<00:21:51.799> of<00:21:51.919> soccer<00:21:52.279> in<00:21:52.400> which<00:21:52.559> you<00:21:52.760> have<00:21:52.960> a 00:21:53.190 --> 00:21:53.200 align:start position:0% game of soccer in which you have a 00:21:53.200 --> 00:21:56.149 align:start position:0% game of soccer in which you have a referee<00:21:54.200> right<00:21:54.600> if<00:21:54.720> you're<00:21:54.880> playing<00:21:55.360> cards 00:21:56.149 --> 00:21:56.159 align:start position:0% referee right if you're playing cards 00:21:56.159 --> 00:21:59.350 align:start position:0% referee right if you're playing cards you<00:21:56.279> might<00:21:56.520> have<00:21:56.880> dealer<00:21:57.880> um<00:21:58.760> if<00:21:58.880> you<00:21:59.039> are 00:21:59.350 --> 00:21:59.360 align:start position:0% you might have dealer um if you are 00:21:59.360 --> 00:22:01.669 align:start position:0% you might have dealer um if you are playing<00:22:00.000> chess<00:22:00.720> you<00:22:00.880> would<00:22:01.080> typically<00:22:01.480> have 00:22:01.669 --> 00:22:01.679 align:start position:0% playing chess you would typically have 00:22:01.679 --> 00:22:03.590 align:start position:0% playing chess you would typically have adjudicators<00:22:02.400> and<00:22:02.640> cl<00:22:02.960> guys<00:22:03.120> that<00:22:03.240> manage<00:22:03.520> the 00:22:03.590 --> 00:22:03.600 align:start position:0% adjudicators and cl guys that manage the 00:22:03.600 --> 00:22:04.870 align:start position:0% adjudicators and cl guys that manage the clock<00:22:03.840> timers<00:22:04.159> and<00:22:04.279> all<00:22:04.400> the<00:22:04.480> rest<00:22:04.600> of<00:22:04.760> this 00:22:04.870 --> 00:22:04.880 align:start position:0% clock timers and all the rest of this 00:22:04.880 --> 00:22:08.669 align:start position:0% clock timers and all the rest of this sort<00:22:05.039> of<00:22:05.679> stuff<00:22:06.679> um<00:22:07.520> those<00:22:07.840> kind<00:22:08.000> of<00:22:08.200> functions 00:22:08.669 --> 00:22:08.679 align:start position:0% sort of stuff um those kind of functions 00:22:08.679 --> 00:22:10.750 align:start position:0% sort of stuff um those kind of functions if<00:22:08.799> you're<00:22:08.960> dealing<00:22:09.320> with<00:22:09.559> software<00:22:10.520> are 00:22:10.750 --> 00:22:10.760 align:start position:0% if you're dealing with software are 00:22:10.760 --> 00:22:12.990 align:start position:0% if you're dealing with software are played<00:22:11.159> by<00:22:11.400> software<00:22:12.320> so<00:22:12.520> if<00:22:12.600> you've<00:22:12.760> got 00:22:12.990 --> 00:22:13.000 align:start position:0% played by software so if you've got 00:22:13.000 --> 00:22:15.390 align:start position:0% played by software so if you've got mailing<00:22:13.480> list<00:22:14.080> the<00:22:14.200> mailing<00:22:14.600> list<00:22:14.799> is<00:22:14.919> a<00:22:15.039> peer 00:22:15.390 --> 00:22:15.400 align:start position:0% mailing list the mailing list is a peer 00:22:15.400 --> 00:22:17.510 align:start position:0% mailing list the mailing list is a peer structure<00:22:16.240> but<00:22:16.360> you<00:22:16.559> also<00:22:16.799> have<00:22:17.000> this<00:22:17.159> meta 00:22:17.510 --> 00:22:17.520 align:start position:0% structure but you also have this meta 00:22:17.520 --> 00:22:18.870 align:start position:0% structure but you also have this meta structure<00:22:17.880> which<00:22:18.000> is<00:22:18.120> automated<00:22:18.679> which<00:22:18.799> is 00:22:18.870 --> 00:22:18.880 align:start position:0% structure which is automated which is 00:22:18.880 --> 00:22:20.830 align:start position:0% structure which is automated which is the<00:22:19.039> list<00:22:19.279> manager<00:22:19.760> software<00:22:20.520> and<00:22:20.679> that 00:22:20.830 --> 00:22:20.840 align:start position:0% the list manager software and that 00:22:20.840 --> 00:22:24.950 align:start position:0% the list manager software and that handles<00:22:21.480> subscribe<00:22:22.559> unsubscribe<00:22:23.559> ban<00:22:24.480> spam 00:22:24.950 --> 00:22:24.960 align:start position:0% handles subscribe unsubscribe ban spam 00:22:24.960 --> 00:22:27.549 align:start position:0% handles subscribe unsubscribe ban spam catching<00:22:25.279> and<00:22:25.400> a<00:22:25.520> bunch<00:22:25.679> of<00:22:25.799> other<00:22:26.400> stuff<00:22:27.400> the 00:22:27.549 --> 00:22:27.559 align:start position:0% catching and a bunch of other stuff the 00:22:27.559 --> 00:22:29.510 align:start position:0% catching and a bunch of other stuff the cipher<00:22:27.960> Punk<00:22:28.200> vision<00:22:28.679> succeeded<00:22:29.039> in<00:22:29.159> building 00:22:29.510 --> 00:22:29.520 align:start position:0% cipher Punk vision succeeded in building 00:22:29.520 --> 00:22:31.350 align:start position:0% cipher Punk vision succeeded in building point-to-point<00:22:29.960> communication<00:22:30.720> tools<00:22:31.240> that 00:22:31.350 --> 00:22:31.360 align:start position:0% point-to-point communication tools that 00:22:31.360 --> 00:22:33.470 align:start position:0% point-to-point communication tools that were<00:22:32.120> theoretically<00:22:32.840> effective<00:22:33.320> but 00:22:33.470 --> 00:22:33.480 align:start position:0% were theoretically effective but 00:22:33.480 --> 00:22:35.950 align:start position:0% were theoretically effective but practically<00:22:33.919> speaking<00:22:34.480> awful<00:22:35.480> for<00:22:35.679> all<00:22:35.880> the 00:22:35.950 --> 00:22:35.960 align:start position:0% practically speaking awful for all the 00:22:35.960 --> 00:22:38.669 align:start position:0% practically speaking awful for all the afor<00:22:36.679> mentions<00:22:37.520> but<00:22:37.679> what<00:22:37.840> they<00:22:38.000> never<00:22:38.320> built 00:22:38.669 --> 00:22:38.679 align:start position:0% afor mentions but what they never built 00:22:38.679 --> 00:22:40.990 align:start position:0% afor mentions but what they never built was<00:22:38.919> any<00:22:39.279> good<00:22:39.600> tools<00:22:39.960> for<00:22:40.159> handling<00:22:40.520> meta 00:22:40.990 --> 00:22:41.000 align:start position:0% was any good tools for handling meta 00:22:41.000 --> 00:22:43.789 align:start position:0% was any good tools for handling meta complexity<00:22:42.000> so<00:22:42.720> one<00:22:42.840> of<00:22:42.960> the<00:22:43.120> big<00:22:43.320> questions 00:22:43.789 --> 00:22:43.799 align:start position:0% complexity so one of the big questions 00:22:43.799 --> 00:22:45.350 align:start position:0% complexity so one of the big questions used<00:22:43.960> to<00:22:44.080> kick<00:22:44.240> around<00:22:44.520> in<00:22:44.600> the<00:22:44.679> late<00:22:44.840> '<00:22:44.919> 90s 00:22:45.350 --> 00:22:45.360 align:start position:0% used to kick around in the late ' 90s 00:22:45.360 --> 00:22:47.549 align:start position:0% used to kick around in the late ' 90s was<00:22:45.880> where<00:22:46.080> is<00:22:46.240> the<00:22:46.400> encrypted<00:22:46.919> mailing<00:22:47.279> list 00:22:47.549 --> 00:22:47.559 align:start position:0% was where is the encrypted mailing list 00:22:47.559 --> 00:22:50.470 align:start position:0% was where is the encrypted mailing list manager<00:22:48.000> and<00:22:48.159> how<00:22:48.279> will<00:22:48.440> it<00:22:48.880> work<00:22:49.880> I<00:22:50.000> got<00:22:50.200> 50 00:22:50.470 --> 00:22:50.480 align:start position:0% manager and how will it work I got 50 00:22:50.480 --> 00:22:52.549 align:start position:0% manager and how will it work I got 50 people<00:22:50.679> at<00:22:50.760> a<00:22:50.880> mailing<00:22:51.240> list<00:22:52.120> I<00:22:52.240> want<00:22:52.480> the 00:22:52.549 --> 00:22:52.559 align:start position:0% people at a mailing list I want the 00:22:52.559 --> 00:22:55.269 align:start position:0% people at a mailing list I want the mailing<00:22:52.880> list<00:22:53.039> to<00:22:53.159> be<00:22:53.240> fully<00:22:53.559> encrypted<00:22:54.559> do<00:22:54.799> I 00:22:55.269 --> 00:22:55.279 align:start position:0% mailing list to be fully encrypted do I 00:22:55.279 --> 00:22:57.110 align:start position:0% mailing list to be fully encrypted do I encrypt<00:22:55.720> a<00:22:55.880> message<00:22:56.279> to<00:22:56.440> the<00:22:56.559> mailing<00:22:56.919> list 00:22:57.110 --> 00:22:57.120 align:start position:0% encrypt a message to the mailing list 00:22:57.120 --> 00:22:58.830 align:start position:0% encrypt a message to the mailing list which<00:22:57.360> then<00:22:57.520> decrypt<00:22:57.960> it<00:22:58.039> and<00:22:58.120> recpt<00:22:58.480> crys<00:22:58.760> it 00:22:58.830 --> 00:22:58.840 align:start position:0% which then decrypt it and recpt crys it 00:22:58.840 --> 00:23:00.950 align:start position:0% which then decrypt it and recpt crys it to<00:22:59.000> those<00:22:59.159> 50<00:22:59.480> people<00:23:00.039> or<00:23:00.159> do<00:23:00.279> I<00:23:00.440> encrypt<00:23:00.760> it<00:23:00.840> to 00:23:00.950 --> 00:23:00.960 align:start position:0% to those 50 people or do I encrypt it to 00:23:00.960 --> 00:23:02.669 align:start position:0% to those 50 people or do I encrypt it to all<00:23:01.159> 50<00:23:01.440> people<00:23:01.720> client<00:23:02.080> side<00:23:02.279> and<00:23:02.360> then<00:23:02.480> send 00:23:02.669 --> 00:23:02.679 align:start position:0% all 50 people client side and then send 00:23:02.679 --> 00:23:03.870 align:start position:0% all 50 people client side and then send it<00:23:02.760> to<00:23:02.840> the<00:23:02.919> mailing<00:23:03.279> list<00:23:03.480> manager<00:23:03.720> and<00:23:03.799> it 00:23:03.870 --> 00:23:03.880 align:start position:0% it to the mailing list manager and it 00:23:03.880 --> 00:23:06.630 align:start position:0% it to the mailing list manager and it sends<00:23:04.120> it<00:23:04.279> back<00:23:04.400> out<00:23:04.679> again<00:23:05.400> right<00:23:05.840> and<00:23:06.480> I 00:23:06.630 --> 00:23:06.640 align:start position:0% sends it back out again right and I 00:23:06.640 --> 00:23:08.310 align:start position:0% sends it back out again right and I don't<00:23:06.880> remember<00:23:07.320> that<00:23:07.520> anybody<00:23:07.880> ever<00:23:08.080> wrote 00:23:08.310 --> 00:23:08.320 align:start position:0% don't remember that anybody ever wrote 00:23:08.320 --> 00:23:09.870 align:start position:0% don't remember that anybody ever wrote an<00:23:08.440> encrypted<00:23:08.840> mailing<00:23:09.120> list<00:23:09.360> manager<00:23:09.720> that 00:23:09.870 --> 00:23:09.880 align:start position:0% an encrypted mailing list manager that 00:23:09.880 --> 00:23:11.669 align:start position:0% an encrypted mailing list manager that worked<00:23:10.520> in<00:23:10.760> either 00:23:11.669 --> 00:23:11.679 align:start position:0% worked in either 00:23:11.679 --> 00:23:13.590 align:start position:0% worked in either direction<00:23:12.679> right<00:23:13.000> there<00:23:13.120> were<00:23:13.279> some<00:23:13.440> little 00:23:13.590 --> 00:23:13.600 align:start position:0% direction right there were some little 00:23:13.600 --> 00:23:15.269 align:start position:0% direction right there were some little fiddly<00:23:14.080> problems<00:23:14.400> like<00:23:14.600> you<00:23:14.720> had<00:23:14.840> to<00:23:15.000> get<00:23:15.159> the 00:23:15.269 --> 00:23:15.279 align:start position:0% fiddly problems like you had to get the 00:23:15.279 --> 00:23:17.950 align:start position:0% fiddly problems like you had to get the mailing<00:23:15.760> list<00:23:16.159> with<00:23:16.320> all<00:23:16.480> of<00:23:16.600> the<00:23:16.760> keys<00:23:17.640> sent 00:23:17.950 --> 00:23:17.960 align:start position:0% mailing list with all of the keys sent 00:23:17.960 --> 00:23:19.430 align:start position:0% mailing list with all of the keys sent to<00:23:18.120> the<00:23:18.279> person<00:23:18.520> that<00:23:18.640> wanted<00:23:18.919> to<00:23:19.039> send<00:23:19.279> the 00:23:19.430 --> 00:23:19.440 align:start position:0% to the person that wanted to send the 00:23:19.440 --> 00:23:21.230 align:start position:0% to the person that wanted to send the message<00:23:20.120> in<00:23:20.279> such<00:23:20.520> way<00:23:20.640> that<00:23:20.760> their<00:23:20.919> mail 00:23:21.230 --> 00:23:21.240 align:start position:0% message in such way that their mail 00:23:21.240 --> 00:23:23.909 align:start position:0% message in such way that their mail client<00:23:21.559> was<00:23:21.679> able<00:23:21.880> to<00:23:22.080> interpret<00:23:22.919> it 00:23:23.909 --> 00:23:23.919 align:start position:0% client was able to interpret it 00:23:23.919 --> 00:23:25.510 align:start position:0% client was able to interpret it correctly<00:23:24.440> to<00:23:24.559> do<00:23:24.720> the<00:23:24.799> key<00:23:25.000> management<00:23:25.400> for 00:23:25.510 --> 00:23:25.520 align:start position:0% correctly to do the key management for 00:23:25.520 --> 00:23:27.430 align:start position:0% correctly to do the key management for sending<00:23:25.840> all<00:23:25.960> the<00:23:26.080> stuff<00:23:26.320> back<00:23:26.440> out<00:23:26.720> again<00:23:27.320> and 00:23:27.430 --> 00:23:27.440 align:start position:0% sending all the stuff back out again and 00:23:27.440 --> 00:23:28.909 align:start position:0% sending all the stuff back out again and that<00:23:27.600> sounds<00:23:27.919> like<00:23:28.000> a<00:23:28.120> trivial<00:23:28.679> little 00:23:28.909 --> 00:23:28.919 align:start position:0% that sounds like a trivial little 00:23:28.919 --> 00:23:30.630 align:start position:0% that sounds like a trivial little problem<00:23:29.520> but<00:23:29.640> it<00:23:29.720> was<00:23:29.799> a<00:23:29.919> trivial<00:23:30.360> little 00:23:30.630 --> 00:23:30.640 align:start position:0% problem but it was a trivial little 00:23:30.640 --> 00:23:32.549 align:start position:0% problem but it was a trivial little problem<00:23:30.919> that<00:23:31.039> meant<00:23:31.279> that<00:23:31.440> we<00:23:32.080> we<00:23:32.240> never<00:23:32.440> got 00:23:32.549 --> 00:23:32.559 align:start position:0% problem that meant that we we never got 00:23:32.559 --> 00:23:34.110 align:start position:0% problem that meant that we we never got an<00:23:32.679> encrypted<00:23:33.080> mailing<00:23:33.400> list<00:23:33.640> manager<00:23:34.000> that 00:23:34.110 --> 00:23:34.120 align:start position:0% an encrypted mailing list manager that 00:23:34.120 --> 00:23:36.230 align:start position:0% an encrypted mailing list manager that worked<00:23:34.720> can<00:23:34.840> somebody<00:23:35.120> find<00:23:35.320> me<00:23:35.440> some 00:23:36.230 --> 00:23:36.240 align:start position:0% worked can somebody find me some 00:23:36.240 --> 00:23:40.230 align:start position:0% worked can somebody find me some water<00:23:37.240> justum<00:23:38.000> up<00:23:38.320> here<00:23:39.320> oh<00:23:39.480> here<00:23:39.600> we<00:23:39.720> are 00:23:40.230 --> 00:23:40.240 align:start position:0% water justum up here oh here we are 00:23:40.240 --> 00:23:42.510 align:start position:0% water justum up here oh here we are found<00:23:40.440> it<00:23:41.440> it's 00:23:42.510 --> 00:23:42.520 align:start position:0% found it it's 00:23:42.520 --> 00:23:44.990 align:start position:0% found it it's here<00:23:43.520> so<00:23:43.880> you<00:23:44.039> get<00:23:44.159> into<00:23:44.400> this<00:23:44.600> position<00:23:44.880> where 00:23:44.990 --> 00:23:45.000 align:start position:0% here so you get into this position where 00:23:45.000 --> 00:23:46.230 align:start position:0% here so you get into this position where You'<00:23:45.080> have<00:23:45.159> an<00:23:45.240> encrypted<00:23:45.679> mailing<00:23:46.000> list 00:23:46.230 --> 00:23:46.240 align:start position:0% You' have an encrypted mailing list 00:23:46.240 --> 00:23:49.110 align:start position:0% You' have an encrypted mailing list manager<00:23:46.960> problem<00:23:47.960> that<00:23:48.159> stands<00:23:48.640> for<00:23:48.880> year 00:23:49.110 --> 00:23:49.120 align:start position:0% manager problem that stands for year 00:23:49.120 --> 00:23:51.510 align:start position:0% manager problem that stands for year after<00:23:49.400> year<00:23:49.600> after<00:23:49.880> year<00:23:50.080> after<00:23:50.400> year<00:23:51.080> because 00:23:51.510 --> 00:23:51.520 align:start position:0% after year after year after year because 00:23:51.520 --> 00:23:53.510 align:start position:0% after year after year after year because it's<00:23:51.720> got<00:23:51.880> hard<00:23:52.120> user<00:23:52.520> interface<00:23:53.039> problems 00:23:53.510 --> 00:23:53.520 align:start position:0% it's got hard user interface problems 00:23:53.520 --> 00:23:55.430 align:start position:0% it's got hard user interface problems because<00:23:53.720> it's<00:23:53.919> encrypted<00:23:54.360> email<00:23:55.120> it's<00:23:55.240> a 00:23:55.430 --> 00:23:55.440 align:start position:0% because it's encrypted email it's a 00:23:55.440 --> 00:23:57.390 align:start position:0% because it's encrypted email it's a public<00:23:55.720> works<00:23:56.120> issue<00:23:56.520> that<00:23:56.679> nobody<00:23:57.039> cares 00:23:57.390 --> 00:23:57.400 align:start position:0% public works issue that nobody cares 00:23:57.400 --> 00:23:59.029 align:start position:0% public works issue that nobody cares enough<00:23:57.679> about<00:23:57.919> the<00:23:58.080> problem<00:23:58.480> to<00:23:58.600> sit<00:23:58.760> down<00:23:58.880> and 00:23:59.029 --> 00:23:59.039 align:start position:0% enough about the problem to sit down and 00:23:59.039 --> 00:24:00.350 align:start position:0% enough about the problem to sit down and solve<00:23:59.320> it<00:23:59.520> because<00:23:59.679> it's<00:23:59.880> actually<00:24:00.159> quite 00:24:00.350 --> 00:24:00.360 align:start position:0% solve it because it's actually quite 00:24:00.360 --> 00:24:02.549 align:start position:0% solve it because it's actually quite tricky<00:24:01.320> and<00:24:01.440> nobody's<00:24:01.840> pulling<00:24:02.159> money<00:24:02.360> in<00:24:02.440> a 00:24:02.549 --> 00:24:02.559 align:start position:0% tricky and nobody's pulling money in a 00:24:02.559 --> 00:24:03.789 align:start position:0% tricky and nobody's pulling money in a way<00:24:02.679> that<00:24:02.760> will<00:24:02.919> allow<00:24:03.159> them<00:24:03.279> to<00:24:03.440> gather<00:24:03.720> the 00:24:03.789 --> 00:24:03.799 align:start position:0% way that will allow them to gather the 00:24:03.799 --> 00:24:06.149 align:start position:0% way that will allow them to gather the funds<00:24:04.120> to<00:24:04.320> get<00:24:04.480> at<00:24:04.720> that<00:24:05.000> problem<00:24:05.760> and<00:24:05.919> as<00:24:06.039> a 00:24:06.149 --> 00:24:06.159 align:start position:0% funds to get at that problem and as a 00:24:06.159 --> 00:24:07.909 align:start position:0% funds to get at that problem and as a result<00:24:06.480> you<00:24:06.600> wind<00:24:06.799> up<00:24:06.960> with<00:24:07.159> this<00:24:07.320> entire<00:24:07.799> kind 00:24:07.909 --> 00:24:07.919 align:start position:0% result you wind up with this entire kind 00:24:07.919 --> 00:24:10.590 align:start position:0% result you wind up with this entire kind of<00:24:08.080> Cipher<00:24:08.480> Punk<00:24:08.679> fantasy<00:24:09.200> world<00:24:09.880> being<00:24:10.159> run 00:24:10.590 --> 00:24:10.600 align:start position:0% of Cipher Punk fantasy world being run 00:24:10.600 --> 00:24:13.110 align:start position:0% of Cipher Punk fantasy world being run on<00:24:10.880> unencrypted<00:24:11.520> email<00:24:12.039> over<00:24:12.240> mailing<00:24:12.679> lists 00:24:13.110 --> 00:24:13.120 align:start position:0% on unencrypted email over mailing lists 00:24:13.120 --> 00:24:14.590 align:start position:0% on unencrypted email over mailing lists that<00:24:13.279> always<00:24:13.559> had<00:24:13.720> terrible<00:24:14.080> problems<00:24:14.440> with 00:24:14.590 --> 00:24:14.600 align:start position:0% that always had terrible problems with 00:24:14.600 --> 00:24:18.190 align:start position:0% that always had terrible problems with things<00:24:14.720> like<00:24:14.880> civil<00:24:15.440> attacks<00:24:16.440> you<00:24:16.520> know<00:24:16.679> sock 00:24:18.190 --> 00:24:18.200 align:start position:0% things like civil attacks you know sock 00:24:18.200 --> 00:24:22.390 align:start position:0% things like civil attacks you know sock puppets<00:24:19.279> now<00:24:20.279> right<00:24:21.200> what<00:24:21.360> we<00:24:21.600> have<00:24:22.000> in 00:24:22.390 --> 00:24:22.400 align:start position:0% puppets now right what we have in 00:24:22.400 --> 00:24:26.710 align:start position:0% puppets now right what we have in ethereum<00:24:23.400> is<00:24:24.039> frankly<00:24:24.799> a<00:24:25.480> staggeringly<00:24:26.399> good 00:24:26.710 --> 00:24:26.720 align:start position:0% ethereum is frankly a staggeringly good 00:24:26.720 --> 00:24:29.549 align:start position:0% ethereum is frankly a staggeringly good like<00:24:27.120> by<00:24:27.520> far<00:24:28.399> the<00:24:28.480> world's<00:24:28.919> best<00:24:29.200> set<00:24:29.399> of 00:24:29.549 --> 00:24:29.559 align:start position:0% like by far the world's best set of 00:24:29.559 --> 00:24:32.549 align:start position:0% like by far the world's best set of mechanisms<00:24:30.120> for<00:24:30.320> building<00:24:30.720> meta<00:24:31.559> structures 00:24:32.549 --> 00:24:32.559 align:start position:0% mechanisms for building meta structures 00:24:32.559 --> 00:24:35.549 align:start position:0% mechanisms for building meta structures it's<00:24:32.840> like<00:24:32.960> an<00:24:33.600> endless<00:24:34.240> Swiss<00:24:34.559> Army<00:24:34.880> Chainsaw 00:24:35.549 --> 00:24:35.559 align:start position:0% it's like an endless Swiss Army Chainsaw 00:24:35.559 --> 00:24:37.750 align:start position:0% it's like an endless Swiss Army Chainsaw for<00:24:35.720> building<00:24:36.000> meta<00:24:36.360> structures<00:24:37.320> and<00:24:37.440> all<00:24:37.600> the 00:24:37.750 --> 00:24:37.760 align:start position:0% for building meta structures and all the 00:24:37.760 --> 00:24:39.389 align:start position:0% for building meta structures and all the indications<00:24:38.440> are<00:24:38.720> that<00:24:38.840> it's<00:24:38.960> only<00:24:39.159> going<00:24:39.279> to 00:24:39.389 --> 00:24:39.399 align:start position:0% indications are that it's only going to 00:24:39.399 --> 00:24:42.350 align:start position:0% indications are that it's only going to get<00:24:39.520> better<00:24:39.760> at<00:24:39.919> that<00:24:40.159> job<00:24:41.080> right<00:24:42.000> you've<00:24:42.200> got 00:24:42.350 --> 00:24:42.360 align:start position:0% get better at that job right you've got 00:24:42.360 --> 00:24:44.909 align:start position:0% get better at that job right you've got a<00:24:42.480> whole<00:24:42.679> bunch<00:24:42.840> of<00:24:43.039> people<00:24:44.039> it's<00:24:44.480> just<00:24:44.720> wait 00:24:44.909 --> 00:24:44.919 align:start position:0% a whole bunch of people it's just wait 00:24:44.919 --> 00:24:46.630 align:start position:0% a whole bunch of people it's just wait you<00:24:45.000> think<00:24:45.120> it's<00:24:45.240> a<00:24:45.360> Swiss<00:24:45.559> Army<00:24:45.760> chainsaw<00:24:46.240> now 00:24:46.630 --> 00:24:46.640 align:start position:0% you think it's a Swiss Army chainsaw now 00:24:46.640 --> 00:24:48.029 align:start position:0% you think it's a Swiss Army chainsaw now once<00:24:46.799> we<00:24:46.960> get<00:24:47.120> blockchain<00:24:47.520> scaling<00:24:47.919> it's 00:24:48.029 --> 00:24:48.039 align:start position:0% once we get blockchain scaling it's 00:24:48.039 --> 00:24:55.669 align:start position:0% once we get blockchain scaling it's going<00:24:48.120> to<00:24:48.200> be<00:24:48.240> a<00:24:48.320> Swiss<00:24:48.559> Army 00:24:55.669 --> 00:24:55.679 align:start position:0% 00:24:55.679 --> 00:24:59.350 align:start position:0% lightsaber<00:24:56.679> so<00:24:57.679> we've<00:24:57.880> got<00:24:58.000> the<00:24:58.120> ability<00:24:58.640> to 00:24:59.350 --> 00:24:59.360 align:start position:0% lightsaber so we've got the ability to 00:24:59.360 --> 00:25:02.590 align:start position:0% lightsaber so we've got the ability to generate<00:25:00.360> complex<00:25:00.960> social<00:25:01.320> Machinery<00:25:02.320> in<00:25:02.440> the 00:25:02.590 --> 00:25:02.600 align:start position:0% generate complex social Machinery in the 00:25:02.600 --> 00:25:05.269 align:start position:0% generate complex social Machinery in the form<00:25:02.840> of<00:25:03.039> meta<00:25:03.480> structures<00:25:04.480> and<00:25:04.679> that<00:25:04.880> complex 00:25:05.269 --> 00:25:05.279 align:start position:0% form of meta structures and that complex 00:25:05.279 --> 00:25:06.830 align:start position:0% form of meta structures and that complex social<00:25:05.559> Machinery<00:25:05.960> in<00:25:06.039> the<00:25:06.159> form<00:25:06.320> of<00:25:06.480> meta 00:25:06.830 --> 00:25:06.840 align:start position:0% social Machinery in the form of meta 00:25:06.840 --> 00:25:09.510 align:start position:0% social Machinery in the form of meta structures<00:25:07.720> should<00:25:08.159> pay<00:25:08.440> for<00:25:09.000> the<00:25:09.200> public 00:25:09.510 --> 00:25:09.520 align:start position:0% structures should pay for the public 00:25:09.520 --> 00:25:13.789 align:start position:0% structures should pay for the public works<00:25:10.000> necessary<00:25:10.799> to<00:25:10.960> build<00:25:11.279> the<00:25:11.440> rest<00:25:11.600> of<00:25:11.720> the 00:25:13.789 --> 00:25:13.799 align:start position:0% works necessary to build the rest of the 00:25:13.799 --> 00:25:16.830 align:start position:0% works necessary to build the rest of the Machinery<00:25:14.799> that<00:25:15.039> all<00:25:15.440> seems<00:25:15.799> fairly<00:25:16.200> simple 00:25:16.830 --> 00:25:16.840 align:start position:0% Machinery that all seems fairly simple 00:25:16.840 --> 00:25:18.990 align:start position:0% Machinery that all seems fairly simple right<00:25:17.679> but<00:25:18.200> this<00:25:18.320> is<00:25:18.480> what<00:25:18.559> I<00:25:18.679> mean<00:25:18.840> by 00:25:18.990 --> 00:25:19.000 align:start position:0% right but this is what I mean by 00:25:19.000 --> 00:25:21.350 align:start position:0% right but this is what I mean by generative<00:25:19.559> complexity<00:25:20.520> right<00:25:21.000> if<00:25:21.120> you've 00:25:21.350 --> 00:25:21.360 align:start position:0% generative complexity right if you've 00:25:21.360 --> 00:25:23.110 align:start position:0% generative complexity right if you've got<00:25:21.520> a<00:25:21.679> set<00:25:21.840> of<00:25:22.039> systems<00:25:22.520> that<00:25:22.640> allow<00:25:22.880> you<00:25:22.960> to 00:25:23.110 --> 00:25:23.120 align:start position:0% got a set of systems that allow you to 00:25:23.120 --> 00:25:25.630 align:start position:0% got a set of systems that allow you to organize<00:25:23.640> money<00:25:24.399> and<00:25:24.520> you<00:25:24.640> can<00:25:24.840> then<00:25:25.120> organize 00:25:25.630 --> 00:25:25.640 align:start position:0% organize money and you can then organize 00:25:25.640 --> 00:25:28.350 align:start position:0% organize money and you can then organize to<00:25:25.799> spend<00:25:26.200> money<00:25:26.600> to<00:25:26.799> do<00:25:27.440> essentially<00:25:28.039> task 00:25:28.350 --> 00:25:28.360 align:start position:0% to spend money to do essentially task 00:25:28.360 --> 00:25:31.830 align:start position:0% to spend money to do essentially task tax<00:25:28.679> like<00:25:28.919> or<00:25:29.200> tith<00:25:29.679> like<00:25:30.240> payments<00:25:31.240> into<00:25:31.720> a 00:25:31.830 --> 00:25:31.840 align:start position:0% tax like or tith like payments into a 00:25:31.840 --> 00:25:34.310 align:start position:0% tax like or tith like payments into a set<00:25:32.039> of<00:25:32.200> pools<00:25:33.159> which<00:25:33.279> are<00:25:33.480> then<00:25:33.679> managed<00:25:34.159> by 00:25:34.310 --> 00:25:34.320 align:start position:0% set of pools which are then managed by 00:25:34.320 --> 00:25:36.029 align:start position:0% set of pools which are then managed by some<00:25:34.559> appropriate<00:25:35.039> set<00:25:35.240> of<00:25:35.360> structures<00:25:35.880> which 00:25:36.029 --> 00:25:36.039 align:start position:0% some appropriate set of structures which 00:25:36.039 --> 00:25:37.389 align:start position:0% some appropriate set of structures which then<00:25:36.159> put<00:25:36.399> the<00:25:36.480> money<00:25:36.720> into<00:25:36.880> the<00:25:37.000> hands<00:25:37.200> of 00:25:37.389 --> 00:25:37.399 align:start position:0% then put the money into the hands of 00:25:37.399 --> 00:25:38.950 align:start position:0% then put the money into the hands of people<00:25:38.000> that<00:25:38.120> will<00:25:38.279> spend<00:25:38.559> their<00:25:38.720> lives 00:25:38.950 --> 00:25:38.960 align:start position:0% people that will spend their lives 00:25:38.960 --> 00:25:41.389 align:start position:0% people that will spend their lives building<00:25:39.279> more<00:25:39.440> of<00:25:39.640> those<00:25:39.960> tools<00:25:40.960> then<00:25:41.159> you've 00:25:41.389 --> 00:25:41.399 align:start position:0% building more of those tools then you've 00:25:41.399 --> 00:25:43.549 align:start position:0% building more of those tools then you've got<00:25:41.559> the<00:25:41.799> potential<00:25:42.360> for<00:25:42.640> an<00:25:42.880> ongoing 00:25:43.549 --> 00:25:43.559 align:start position:0% got the potential for an ongoing 00:25:43.559 --> 00:25:45.549 align:start position:0% got the potential for an ongoing ecosystem<00:25:44.120> which<00:25:44.399> gradually<00:25:44.799> grows<00:25:45.080> in 00:25:45.549 --> 00:25:45.559 align:start position:0% ecosystem which gradually grows in 00:25:45.559 --> 00:25:47.710 align:start position:0% ecosystem which gradually grows in complexity<00:25:46.559> and<00:25:46.720> I<00:25:46.840> think<00:25:47.080> that<00:25:47.240> it's<00:25:47.440> quite 00:25:47.710 --> 00:25:47.720 align:start position:0% complexity and I think that it's quite 00:25:47.720 --> 00:25:50.510 align:start position:0% complexity and I think that it's quite important<00:25:48.480> to<00:25:48.720> differentiate<00:25:49.600> between<00:25:50.399> you 00:25:50.510 --> 00:25:50.520 align:start position:0% important to differentiate between you 00:25:50.520 --> 00:25:52.350 align:start position:0% important to differentiate between you know<00:25:50.799> dap<00:25:51.200> development<00:25:51.760> in<00:25:51.919> either<00:25:52.159> a 00:25:52.350 --> 00:25:52.360 align:start position:0% know dap development in either a 00:25:52.360 --> 00:25:55.190 align:start position:0% know dap development in either a commercial<00:25:52.880> sector<00:25:53.279> or<00:25:53.399> a<00:25:53.600> charity<00:25:54.200> sector 00:25:55.190 --> 00:25:55.200 align:start position:0% commercial sector or a charity sector 00:25:55.200 --> 00:25:56.830 align:start position:0% commercial sector or a charity sector with<00:25:55.679> adap<00:25:56.000> development<00:25:56.520> which<00:25:56.679> is 00:25:56.830 --> 00:25:56.840 align:start position:0% with adap development which is 00:25:56.840 --> 00:25:59.310 align:start position:0% with adap development which is essentially<00:25:57.279> Public<00:25:57.600> Works<00:25:58.600> right<00:25:59.000> because 00:25:59.310 --> 00:25:59.320 align:start position:0% essentially Public Works right because 00:25:59.320 --> 00:26:01.149 align:start position:0% essentially Public Works right because Public<00:25:59.600> Works<00:25:59.960> money<00:26:00.399> looks<00:26:00.799> really 00:26:01.149 --> 00:26:01.159 align:start position:0% Public Works money looks really 00:26:01.159 --> 00:26:02.310 align:start position:0% Public Works money looks really different<00:26:01.520> from 00:26:02.310 --> 00:26:02.320 align:start position:0% different from 00:26:02.320 --> 00:26:04.149 align:start position:0% different from investment<00:26:03.320> right<00:26:03.559> it<00:26:03.679> looks<00:26:03.960> really 00:26:04.149 --> 00:26:04.159 align:start position:0% investment right it looks really 00:26:04.159 --> 00:26:05.830 align:start position:0% investment right it looks really different<00:26:04.520> because<00:26:04.799> what<00:26:05.000> supports<00:26:05.440> it<00:26:05.559> is<00:26:05.679> a 00:26:05.830 --> 00:26:05.840 align:start position:0% different because what supports it is a 00:26:05.840 --> 00:26:08.070 align:start position:0% different because what supports it is a different<00:26:06.279> social<00:26:06.640> contract<00:26:07.600> between<00:26:07.960> the 00:26:08.070 --> 00:26:08.080 align:start position:0% different social contract between the 00:26:08.080 --> 00:26:09.830 align:start position:0% different social contract between the people<00:26:08.320> building<00:26:08.720> the<00:26:08.880> Public<00:26:09.159> Works 00:26:09.830 --> 00:26:09.840 align:start position:0% people building the Public Works 00:26:09.840 --> 00:26:11.909 align:start position:0% people building the Public Works infrastructure<00:26:10.840> and<00:26:11.240> the<00:26:11.360> people<00:26:11.600> that<00:26:11.720> are 00:26:11.909 --> 00:26:11.919 align:start position:0% infrastructure and the people that are 00:26:11.919 --> 00:26:13.870 align:start position:0% infrastructure and the people that are actually<00:26:12.200> doing<00:26:12.480> the<00:26:12.640> support<00:26:13.200> of<00:26:13.399> the<00:26:13.600> core 00:26:13.870 --> 00:26:13.880 align:start position:0% actually doing the support of the core 00:26:13.880 --> 00:26:16.990 align:start position:0% actually doing the support of the core structures<00:26:14.799> so<00:26:15.039> in<00:26:15.159> the<00:26:15.520> future<00:26:16.520> right<00:26:16.919> it 00:26:16.990 --> 00:26:17.000 align:start position:0% structures so in the future right it 00:26:17.000 --> 00:26:18.549 align:start position:0% structures so in the future right it would<00:26:17.159> be<00:26:17.360> very<00:26:17.600> interesting<00:26:18.039> to<00:26:18.159> see<00:26:18.360> if<00:26:18.440> we 00:26:18.549 --> 00:26:18.559 align:start position:0% would be very interesting to see if we 00:26:18.559 --> 00:26:20.630 align:start position:0% would be very interesting to see if we could<00:26:18.760> create<00:26:19.039> a<00:26:19.200> situation<00:26:20.080> in<00:26:20.240> which<00:26:20.440> much 00:26:20.630 --> 00:26:20.640 align:start position:0% could create a situation in which much 00:26:20.640 --> 00:26:22.710 align:start position:0% could create a situation in which much of<00:26:20.799> the<00:26:21.000> utility<00:26:21.679> stuff<00:26:21.960> that<00:26:22.080> we<00:26:22.279> need<00:26:22.520> every 00:26:22.710 --> 00:26:22.720 align:start position:0% of the utility stuff that we need every 00:26:22.720 --> 00:26:25.230 align:start position:0% of the utility stuff that we need every day<00:26:22.880> to<00:26:23.080> operate<00:26:23.440> in<00:26:23.600> the<00:26:23.840> set<00:26:24.159> systems<00:26:25.039> was 00:26:25.230 --> 00:26:25.240 align:start position:0% day to operate in the set systems was 00:26:25.240 --> 00:26:27.110 align:start position:0% day to operate in the set systems was simply<00:26:25.520> maintained<00:26:25.960> by<00:26:26.159> Public<00:26:26.440> Works 00:26:27.110 --> 00:26:27.120 align:start position:0% simply maintained by Public Works 00:26:27.120 --> 00:26:29.590 align:start position:0% simply maintained by Public Works process<00:26:28.120> right<00:26:28.559> and<00:26:28.720> I<00:26:28.840> think<00:26:29.000> that<00:26:29.279> that 00:26:29.590 --> 00:26:29.600 align:start position:0% process right and I think that that 00:26:29.600 --> 00:26:32.669 align:start position:0% process right and I think that that might<00:26:29.960> be<00:26:30.640> one<00:26:30.919> way<00:26:31.080> of<00:26:31.200> squaring<00:26:31.640> the<00:26:31.799> circle 00:26:32.669 --> 00:26:32.679 align:start position:0% might be one way of squaring the circle 00:26:32.679 --> 00:26:34.590 align:start position:0% might be one way of squaring the circle because<00:26:33.279> we're<00:26:33.440> in<00:26:33.559> a<00:26:33.720> position<00:26:34.000> where<00:26:34.320> very 00:26:34.590 --> 00:26:34.600 align:start position:0% because we're in a position where very 00:26:34.600 --> 00:26:36.630 align:start position:0% because we're in a position where very few<00:26:34.880> of<00:26:35.039> the<00:26:35.120> funding<00:26:35.559> mechanisms<00:26:36.159> we've<00:26:36.399> got 00:26:36.630 --> 00:26:36.640 align:start position:0% few of the funding mechanisms we've got 00:26:36.640 --> 00:26:39.230 align:start position:0% few of the funding mechanisms we've got access<00:26:36.960> to<00:26:37.679> really<00:26:38.039> suit<00:26:38.440> the<00:26:38.600> Public<00:26:38.840> Works 00:26:39.230 --> 00:26:39.240 align:start position:0% access to really suit the Public Works 00:26:39.240 --> 00:26:41.230 align:start position:0% access to really suit the Public Works use<00:26:39.640> case<00:26:40.240> which<00:26:40.399> was<00:26:40.559> at<00:26:40.679> the<00:26:40.840> heart<00:26:41.039> of<00:26:41.120> the 00:26:41.230 --> 00:26:41.240 align:start position:0% use case which was at the heart of the 00:26:41.240 --> 00:26:43.149 align:start position:0% use case which was at the heart of the cyper<00:26:41.640> frun<00:26:42.000> vision<00:26:42.480> and<00:26:42.600> I<00:26:42.720> think<00:26:42.840> is<00:26:43.000> still 00:26:43.149 --> 00:26:43.159 align:start position:0% cyper frun vision and I think is still 00:26:43.159 --> 00:26:45.029 align:start position:0% cyper frun vision and I think is still at<00:26:43.279> the<00:26:43.360> heart<00:26:43.520> of<00:26:43.600> the<00:26:43.720> ethereum<00:26:44.159> vision<00:26:44.919> we 00:26:45.029 --> 00:26:45.039 align:start position:0% at the heart of the ethereum vision we 00:26:45.039 --> 00:26:46.789 align:start position:0% at the heart of the ethereum vision we would<00:26:45.200> all<00:26:45.360> be<00:26:45.520> deeply<00:26:45.880> uncomfortable<00:26:46.520> if<00:26:46.640> the 00:26:46.789 --> 00:26:46.799 align:start position:0% would all be deeply uncomfortable if the 00:26:46.799 --> 00:26:48.590 align:start position:0% would all be deeply uncomfortable if the core<00:26:47.039> of<00:26:47.200> ethereum<00:26:47.679> was<00:26:47.880> actually<00:26:48.120> commercial 00:26:48.590 --> 00:26:48.600 align:start position:0% core of ethereum was actually commercial 00:26:48.600 --> 00:26:51.070 align:start position:0% core of ethereum was actually commercial proprietary<00:26:49.360> software<00:26:50.360> and<00:26:50.480> the<00:26:50.559> only<00:26:50.840> reason 00:26:51.070 --> 00:26:51.080 align:start position:0% proprietary software and the only reason 00:26:51.080 --> 00:26:52.549 align:start position:0% proprietary software and the only reason it's<00:26:51.279> not<00:26:51.480> is<00:26:51.640> because<00:26:51.840> we<00:26:51.960> raised<00:26:52.360> enough 00:26:52.549 --> 00:26:52.559 align:start position:0% it's not is because we raised enough 00:26:52.559 --> 00:26:55.269 align:start position:0% it's not is because we raised enough money<00:26:52.760> to<00:26:52.960> get<00:26:53.159> that<00:26:53.360> Core<00:26:53.760> built<00:26:54.760> uh<00:26:55.000> while<00:26:55.159> we 00:26:55.269 --> 00:26:55.279 align:start position:0% money to get that Core built uh while we 00:26:55.279 --> 00:26:57.350 align:start position:0% money to get that Core built uh while we were<00:26:55.440> still<00:26:55.640> on<00:26:55.799> the<00:26:55.919> spike<00:26:56.240> fund<00:26:56.960> but<00:26:57.120> in<00:26:57.240> the 00:26:57.350 --> 00:26:57.360 align:start position:0% were still on the spike fund but in the 00:26:57.360 --> 00:26:59.350 align:start position:0% were still on the spike fund but in the long<00:26:57.640> run<00:26:58.240> what<00:26:58.360> we'd<00:26:58.559> like<00:26:58.720> is<00:26:58.880> the<00:26:59.000> ability 00:26:59.350 --> 00:26:59.360 align:start position:0% long run what we'd like is the ability 00:26:59.360 --> 00:27:01.190 align:start position:0% long run what we'd like is the ability to<00:26:59.520> chip<00:26:59.799> away<00:27:00.000> at<00:27:00.159> these<00:27:00.399> problems<00:27:00.760> over<00:27:01.039> time 00:27:01.190 --> 00:27:01.200 align:start position:0% to chip away at these problems over time 00:27:01.200 --> 00:27:02.710 align:start position:0% to chip away at these problems over time and<00:27:01.360> build<00:27:01.640> more<00:27:01.799> and<00:27:01.960> more<00:27:02.159> interesting 00:27:02.710 --> 00:27:02.720 align:start position:0% and build more and more interesting 00:27:02.720 --> 00:27:04.590 align:start position:0% and build more and more interesting things<00:27:03.559> and<00:27:03.679> I<00:27:03.799> think<00:27:03.960> that's<00:27:04.120> only<00:27:04.320> going<00:27:04.440> to 00:27:04.590 --> 00:27:04.600 align:start position:0% things and I think that's only going to 00:27:04.600 --> 00:27:06.029 align:start position:0% things and I think that's only going to happen<00:27:04.799> if<00:27:04.919> we<00:27:05.039> can<00:27:05.159> figure<00:27:05.399> out<00:27:05.559> how<00:27:05.720> to<00:27:05.840> keep 00:27:06.029 --> 00:27:06.039 align:start position:0% happen if we can figure out how to keep 00:27:06.039 --> 00:27:07.750 align:start position:0% happen if we can figure out how to keep the<00:27:06.240> people<00:27:06.440> that<00:27:06.559> want<00:27:06.720> to<00:27:06.880> do<00:27:07.200> Public<00:27:07.440> Works 00:27:07.750 --> 00:27:07.760 align:start position:0% the people that want to do Public Works 00:27:07.760 --> 00:27:09.789 align:start position:0% the people that want to do Public Works building<00:27:08.440> doing<00:27:08.840> Public 00:27:09.789 --> 00:27:09.799 align:start position:0% building doing Public 00:27:09.799 --> 00:27:12.549 align:start position:0% building doing Public Works<00:27:10.799> does<00:27:11.000> this<00:27:11.200> make<00:27:11.840> any<00:27:12.039> kind<00:27:12.200> of<00:27:12.320> sense 00:27:12.549 --> 00:27:12.559 align:start position:0% Works does this make any kind of sense 00:27:12.559 --> 00:27:15.269 align:start position:0% Works does this make any kind of sense at<00:27:12.679> all<00:27:12.799> as<00:27:12.919> a<00:27:13.399> system<00:27:14.399> and<00:27:14.520> we've<00:27:14.760> got<00:27:14.960> this 00:27:15.269 --> 00:27:15.279 align:start position:0% at all as a system and we've got this 00:27:15.279 --> 00:27:17.350 align:start position:0% at all as a system and we've got this fantastic<00:27:15.960> set<00:27:16.159> of<00:27:16.279> architectures<00:27:16.919> for<00:27:17.080> doing 00:27:17.350 --> 00:27:17.360 align:start position:0% fantastic set of architectures for doing 00:27:17.360 --> 00:27:20.870 align:start position:0% fantastic set of architectures for doing Public<00:27:17.640> Works<00:27:18.840> systems<00:27:19.840> so<00:27:20.240> what<00:27:20.399> I'd<00:27:20.559> like<00:27:20.679> to 00:27:20.870 --> 00:27:20.880 align:start position:0% Public Works systems so what I'd like to 00:27:20.880 --> 00:27:22.350 align:start position:0% Public Works systems so what I'd like to suggest<00:27:21.399> is<00:27:21.520> that<00:27:21.679> as<00:27:21.760> we<00:27:21.880> kind<00:27:22.000> of<00:27:22.080> move 00:27:22.350 --> 00:27:22.360 align:start position:0% suggest is that as we kind of move 00:27:22.360 --> 00:27:24.630 align:start position:0% suggest is that as we kind of move forward<00:27:22.720> in<00:27:22.960> this<00:27:23.640> we<00:27:23.919> pay<00:27:24.120> attention<00:27:24.480> to 00:27:24.630 --> 00:27:24.640 align:start position:0% forward in this we pay attention to 00:27:24.640 --> 00:27:27.149 align:start position:0% forward in this we pay attention to these<00:27:24.840> core<00:27:25.200> lessons<00:27:26.120> right<00:27:26.399> we<00:27:26.880> understand 00:27:27.149 --> 00:27:27.159 align:start position:0% these core lessons right we understand 00:27:27.159 --> 00:27:29.870 align:start position:0% these core lessons right we understand that<00:27:27.440> keeping<00:27:27.840> these<00:27:28.320> system<00:27:28.640> is<00:27:28.840> running<00:27:29.679> is 00:27:29.870 --> 00:27:29.880 align:start position:0% that keeping these system is running is 00:27:29.880 --> 00:27:32.430 align:start position:0% that keeping these system is running is as<00:27:30.039> much<00:27:30.320> about<00:27:30.960> you<00:27:31.080> know<00:27:31.399> social<00:27:31.919> compacts 00:27:32.430 --> 00:27:32.440 align:start position:0% as much about you know social compacts 00:27:32.440 --> 00:27:34.750 align:start position:0% as much about you know social compacts and<00:27:32.640> social<00:27:33.000> contract<00:27:33.520> theory<00:27:34.159> as<00:27:34.360> is<00:27:34.520> about<00:27:34.679> a 00:27:34.750 --> 00:27:34.760 align:start position:0% and social contract theory as is about a 00:27:34.760 --> 00:27:36.990 align:start position:0% and social contract theory as is about a given<00:27:35.000> piece<00:27:35.159> of<00:27:35.320> technology<00:27:36.279> it's<00:27:36.480> about 00:27:36.990 --> 00:27:37.000 align:start position:0% given piece of technology it's about 00:27:37.000 --> 00:27:39.230 align:start position:0% given piece of technology it's about ongoing<00:27:37.520> continual<00:27:38.000> Innovation<00:27:38.799> it's<00:27:38.960> about 00:27:39.230 --> 00:27:39.240 align:start position:0% ongoing continual Innovation it's about 00:27:39.240 --> 00:27:42.110 align:start position:0% ongoing continual Innovation it's about cooperation<00:27:40.080> between<00:27:40.919> open<00:27:41.320> source<00:27:41.840> between 00:27:42.110 --> 00:27:42.120 align:start position:0% cooperation between open source between 00:27:42.120 --> 00:27:44.789 align:start position:0% cooperation between open source between commercial<00:27:42.600> Enterprises<00:27:43.320> between<00:27:43.799> Charities 00:27:44.789 --> 00:27:44.799 align:start position:0% commercial Enterprises between Charities 00:27:44.799 --> 00:27:47.029 align:start position:0% commercial Enterprises between Charities individual<00:27:45.399> activists<00:27:45.840> and<00:27:46.000> everybody<00:27:46.399> else 00:27:47.029 --> 00:27:47.039 align:start position:0% individual activists and everybody else 00:27:47.039 --> 00:27:48.389 align:start position:0% individual activists and everybody else but<00:27:47.159> if<00:27:47.240> we're<00:27:47.399> going<00:27:47.519> to<00:27:47.640> build<00:27:47.960> this<00:27:48.120> kind<00:27:48.240> of 00:27:48.389 --> 00:27:48.399 align:start position:0% but if we're going to build this kind of 00:27:48.399 --> 00:27:50.310 align:start position:0% but if we're going to build this kind of kind<00:27:48.519> of<00:27:48.640> road<00:27:48.880> to<00:27:49.000> the<00:27:49.120> Future<00:27:49.600> stuff<00:27:50.159> you 00:27:50.310 --> 00:27:50.320 align:start position:0% kind of road to the Future stuff you 00:27:50.320 --> 00:27:52.430 align:start position:0% kind of road to the Future stuff you wind<00:27:50.480> up<00:27:50.600> meeting<00:27:50.960> systems<00:27:51.360> which<00:27:51.559> look<00:27:51.919> a<00:27:52.159> lot 00:27:52.430 --> 00:27:52.440 align:start position:0% wind up meeting systems which look a lot 00:27:52.440 --> 00:27:55.430 align:start position:0% wind up meeting systems which look a lot like<00:27:53.000> local<00:27:53.679> government<00:27:54.679> we<00:27:54.840> have<00:27:54.919> a<00:27:55.039> bug<00:27:55.240> in 00:27:55.430 --> 00:27:55.440 align:start position:0% like local government we have a bug in 00:27:55.440 --> 00:27:56.830 align:start position:0% like local government we have a bug in this<00:27:55.559> piece<00:27:55.720> of<00:27:55.840> software<00:27:56.200> who<00:27:56.320> has<00:27:56.480> assigned 00:27:56.830 --> 00:27:56.840 align:start position:0% this piece of software who has assigned 00:27:56.840 --> 00:27:59.029 align:start position:0% this piece of software who has assigned this<00:27:56.960> bug<00:27:57.519> 38<00:27:57.919> Mill<00:27:58.159> milon<00:27:58.440> people<00:27:58.600> are<00:27:58.720> using 00:27:59.029 --> 00:27:59.039 align:start position:0% this bug 38 Mill milon people are using 00:27:59.039 --> 00:28:00.269 align:start position:0% this bug 38 Mill milon people are using this<00:27:59.159> piece<00:27:59.320> of<00:27:59.440> software<00:27:59.799> how<00:27:59.919> do<00:28:00.000> we<00:28:00.159> make 00:28:00.269 --> 00:28:00.279 align:start position:0% this piece of software how do we make 00:28:00.279 --> 00:28:01.230 align:start position:0% this piece of software how do we make sure<00:28:00.480> that<00:28:00.559> the<00:28:00.679> core<00:28:00.880> team<00:28:01.039> are 00:28:01.230 --> 00:28:01.240 align:start position:0% sure that the core team are 00:28:01.240 --> 00:28:03.269 align:start position:0% sure that the core team are appropriately<00:28:01.799> paid<00:28:02.559> if<00:28:02.679> it<00:28:02.799> is<00:28:03.000> something 00:28:03.269 --> 00:28:03.279 align:start position:0% appropriately paid if it is something 00:28:03.279 --> 00:28:05.070 align:start position:0% appropriately paid if it is something that<00:28:03.440> inherently<00:28:04.039> doesn't<00:28:04.399> have<00:28:04.519> a<00:28:04.679> business 00:28:05.070 --> 00:28:05.080 align:start position:0% that inherently doesn't have a business 00:28:05.080 --> 00:28:07.389 align:start position:0% that inherently doesn't have a business model<00:28:06.039> uh<00:28:06.320> that<00:28:06.399> will<00:28:06.600> allow<00:28:06.840> you<00:28:06.919> to<00:28:07.080> raise<00:28:07.279> a 00:28:07.389 --> 00:28:07.399 align:start position:0% model uh that will allow you to raise a 00:28:07.399 --> 00:28:08.630 align:start position:0% model uh that will allow you to raise a bunch<00:28:07.600> of<00:28:07.679> money<00:28:07.919> and<00:28:08.039> then<00:28:08.200> spend<00:28:08.480> it 00:28:08.630 --> 00:28:08.640 align:start position:0% bunch of money and then spend it 00:28:08.640 --> 00:28:10.590 align:start position:0% bunch of money and then spend it carefully<00:28:09.519> how<00:28:09.640> do<00:28:09.760> you<00:28:09.880> get<00:28:10.000> into<00:28:10.320> position 00:28:10.590 --> 00:28:10.600 align:start position:0% carefully how do you get into position 00:28:10.600 --> 00:28:11.870 align:start position:0% carefully how do you get into position where<00:28:10.720> you<00:28:10.840> could<00:28:11.000> keep<00:28:11.200> this<00:28:11.320> kind<00:28:11.480> of<00:28:11.600> stuff 00:28:11.870 --> 00:28:11.880 align:start position:0% where you could keep this kind of stuff 00:28:11.880 --> 00:28:14.750 align:start position:0% where you could keep this kind of stuff running<00:28:12.880> and<00:28:13.120> this<00:28:13.440> is<00:28:13.919> the<00:28:14.159> kind<00:28:14.240> of<00:28:14.399> core 00:28:14.750 --> 00:28:14.760 align:start position:0% running and this is the kind of core 00:28:14.760 --> 00:28:16.789 align:start position:0% running and this is the kind of core message<00:28:15.080> at<00:28:15.240> the<00:28:15.360> heart<00:28:15.559> of<00:28:15.720> what<00:28:15.799> I'm<00:28:16.000> saying 00:28:16.789 --> 00:28:16.799 align:start position:0% message at the heart of what I'm saying 00:28:16.799 --> 00:28:19.350 align:start position:0% message at the heart of what I'm saying the<00:28:16.919> cipher<00:28:17.360> punks<00:28:17.720> had<00:28:17.919> nothing<00:28:18.360> between 00:28:19.350 --> 00:28:19.360 align:start position:0% the cipher punks had nothing between 00:28:19.360 --> 00:28:21.230 align:start position:0% the cipher punks had nothing between open<00:28:19.799> source<00:28:20.320> and 00:28:21.230 --> 00:28:21.240 align:start position:0% open source and 00:28:21.240 --> 00:28:23.549 align:start position:0% open source and proprietary<00:28:22.240> and<00:28:22.399> as<00:28:22.519> a<00:28:22.679> result<00:28:23.120> they<00:28:23.240> took<00:28:23.399> on 00:28:23.549 --> 00:28:23.559 align:start position:0% proprietary and as a result they took on 00:28:23.559 --> 00:28:24.870 align:start position:0% proprietary and as a result they took on the<00:28:23.720> challenges<00:28:24.320> which<00:28:24.440> would<00:28:24.559> have<00:28:24.720> made 00:28:24.870 --> 00:28:24.880 align:start position:0% the challenges which would have made 00:28:24.880 --> 00:28:26.990 align:start position:0% the challenges which would have made them<00:28:25.120> kind<00:28:25.279> of<00:28:25.399> sort<00:28:25.640> of<00:28:25.799> peer<00:28:26.039> to<00:28:26.240> government 00:28:26.990 --> 00:28:27.000 align:start position:0% them kind of sort of peer to government 00:28:27.000 --> 00:28:28.549 align:start position:0% them kind of sort of peer to government but<00:28:27.200> didn't<00:28:27.440> have<00:28:27.600> the<00:28:27.720> staying<00:28:28.240> power<00:28:28.440> to 00:28:28.549 --> 00:28:28.559 align:start position:0% but didn't have the staying power to 00:28:28.559 --> 00:28:30.630 align:start position:0% but didn't have the staying power to finish<00:28:28.880> the<00:28:29.080> job<00:28:29.799> which<00:28:29.919> is<00:28:30.080> why<00:28:30.240> there<00:28:30.360> was<00:28:30.440> a 00:28:30.630 --> 00:28:30.640 align:start position:0% finish the job which is why there was a 00:28:30.640 --> 00:28:32.830 align:start position:0% finish the job which is why there was a 10year<00:28:31.159> dead<00:28:31.559> period<00:28:31.880> from<00:28:32.039> 911<00:28:32.559> until 00:28:32.830 --> 00:28:32.840 align:start position:0% 10year dead period from 911 until 00:28:32.840 --> 00:28:35.750 align:start position:0% 10year dead period from 911 until Bitcoin<00:28:33.840> and<00:28:34.039> what<00:28:34.240> Bitcoin<00:28:34.760> created<00:28:35.559> because 00:28:35.750 --> 00:28:35.760 align:start position:0% Bitcoin and what Bitcoin created because 00:28:35.760 --> 00:28:38.590 align:start position:0% Bitcoin and what Bitcoin created because it<00:28:35.919> put<00:28:36.159> an<00:28:36.360> enormous<00:28:36.960> injection<00:28:37.399> of<00:28:37.679> capital 00:28:38.590 --> 00:28:38.600 align:start position:0% it put an enormous injection of capital 00:28:38.600 --> 00:28:40.149 align:start position:0% it put an enormous injection of capital into<00:28:39.080> this<00:28:39.360> space<00:28:39.640> where<00:28:39.840> people<00:28:40.039> were 00:28:40.149 --> 00:28:40.159 align:start position:0% into this space where people were 00:28:40.159 --> 00:28:42.789 align:start position:0% into this space where people were writing<00:28:40.519> code<00:28:40.799> to<00:28:40.919> ensure<00:28:41.279> human<00:28:41.600> Freedom<00:28:42.600> was 00:28:42.789 --> 00:28:42.799 align:start position:0% writing code to ensure human Freedom was 00:28:42.799 --> 00:28:44.750 align:start position:0% writing code to ensure human Freedom was it<00:28:42.960> created<00:28:43.360> this<00:28:43.519> enormous<00:28:44.080> Spike<00:28:44.559> of 00:28:44.750 --> 00:28:44.760 align:start position:0% it created this enormous Spike of 00:28:44.760 --> 00:28:46.710 align:start position:0% it created this enormous Spike of innovation<00:28:45.760> and<00:28:45.919> we're<00:28:46.080> in<00:28:46.200> the<00:28:46.320> middle<00:28:46.559> of 00:28:46.710 --> 00:28:46.720 align:start position:0% innovation and we're in the middle of 00:28:46.720 --> 00:28:48.909 align:start position:0% innovation and we're in the middle of the<00:28:46.840> ongoing<00:28:47.640> you<00:28:47.760> know<00:28:48.080> boom<00:28:48.559> period 00:28:48.909 --> 00:28:48.919 align:start position:0% the ongoing you know boom period 00:28:48.919 --> 00:28:51.070 align:start position:0% the ongoing you know boom period produced<00:28:49.279> by<00:28:49.440> that<00:28:49.600> Spike<00:28:50.200> the<00:28:50.320> fortunes<00:28:50.880> made 00:28:51.070 --> 00:28:51.080 align:start position:0% produced by that Spike the fortunes made 00:28:51.080 --> 00:28:53.590 align:start position:0% produced by that Spike the fortunes made in<00:28:51.279> Bitcoin<00:28:52.120> turn<00:28:52.480> into<00:28:52.720> the<00:28:52.919> basic<00:28:53.320> core 00:28:53.590 --> 00:28:53.600 align:start position:0% in Bitcoin turn into the basic core 00:28:53.600 --> 00:28:55.669 align:start position:0% in Bitcoin turn into the basic core infrastructure<00:28:54.200> funding<00:28:54.480> for<00:28:54.720> ethereum<00:28:55.519> and 00:28:55.669 --> 00:28:55.679 align:start position:0% infrastructure funding for ethereum and 00:28:55.679 --> 00:28:57.710 align:start position:0% infrastructure funding for ethereum and we<00:28:55.799> continue<00:28:56.159> to<00:28:56.279> roll<00:28:56.640> that<00:28:56.840> forward<00:28:57.559> the 00:28:57.710 --> 00:28:57.720 align:start position:0% we continue to roll that forward the 00:28:57.720 --> 00:28:59.509 align:start position:0% we continue to roll that forward the stuff<00:28:57.880> is<00:28:58.200> becoming<00:28:58.519> more<00:28:58.799> sustainable<00:28:59.360> as 00:28:59.509 --> 00:28:59.519 align:start position:0% stuff is becoming more sustainable as 00:28:59.519 --> 00:29:01.590 align:start position:0% stuff is becoming more sustainable as dos<00:28:59.880> become<00:29:00.240> businesses<00:29:01.039> and<00:29:01.200> hopefully 00:29:01.590 --> 00:29:01.600 align:start position:0% dos become businesses and hopefully 00:29:01.600 --> 00:29:03.590 align:start position:0% dos become businesses and hopefully those<00:29:01.760> businesses<00:29:02.200> will<00:29:02.440> re-inject<00:29:03.039> some<00:29:03.320> Pro 00:29:03.590 --> 00:29:03.600 align:start position:0% those businesses will re-inject some Pro 00:29:03.600 --> 00:29:05.430 align:start position:0% those businesses will re-inject some Pro portion<00:29:03.880> of<00:29:04.000> their<00:29:04.200> proceeds<00:29:05.080> into<00:29:05.320> the 00:29:05.430 --> 00:29:05.440 align:start position:0% portion of their proceeds into the 00:29:05.440 --> 00:29:07.830 align:start position:0% portion of their proceeds into the maintenance<00:29:05.919> and<00:29:06.120> the<00:29:06.559> ongoing<00:29:07.000> work<00:29:07.200> on<00:29:07.320> the 00:29:07.830 --> 00:29:07.840 align:start position:0% maintenance and the ongoing work on the 00:29:07.840 --> 00:29:10.350 align:start position:0% maintenance and the ongoing work on the infrastructure<00:29:08.840> but<00:29:09.120> if<00:29:09.240> we<00:29:09.360> can<00:29:09.600> use<00:29:10.159> this 00:29:10.350 --> 00:29:10.360 align:start position:0% infrastructure but if we can use this 00:29:10.360 --> 00:29:12.950 align:start position:0% infrastructure but if we can use this wonderful<00:29:10.720> meta<00:29:11.080> Machinery<00:29:11.559> that<00:29:11.720> we<00:29:12.000> have<00:29:12.760> to 00:29:12.950 --> 00:29:12.960 align:start position:0% wonderful meta Machinery that we have to 00:29:12.960 --> 00:29:14.909 align:start position:0% wonderful meta Machinery that we have to build<00:29:13.279> a<00:29:13.440> social<00:29:13.840> contract<00:29:14.360> that<00:29:14.480> allows<00:29:14.760> us 00:29:14.909 --> 00:29:14.919 align:start position:0% build a social contract that allows us 00:29:14.919 --> 00:29:16.350 align:start position:0% build a social contract that allows us to<00:29:15.080> continue<00:29:15.399> to<00:29:15.519> put<00:29:15.679> funding<00:29:15.960> in<00:29:16.120> at<00:29:16.240> the 00:29:16.350 --> 00:29:16.360 align:start position:0% to continue to put funding in at the 00:29:16.360 --> 00:29:18.950 align:start position:0% to continue to put funding in at the core<00:29:17.320> this<00:29:17.440> is<00:29:17.600> how<00:29:17.760> we<00:29:17.919> generate<00:29:18.279> the<00:29:18.440> staying 00:29:18.950 --> 00:29:18.960 align:start position:0% core this is how we generate the staying 00:29:18.960 --> 00:29:21.110 align:start position:0% core this is how we generate the staying power<00:29:19.559> to<00:29:19.760> get<00:29:20.080> right<00:29:20.279> the<00:29:20.399> way<00:29:20.600> down<00:29:20.799> the<00:29:20.960> rest 00:29:21.110 --> 00:29:21.120 align:start position:0% power to get right the way down the rest 00:29:21.120 --> 00:29:23.789 align:start position:0% power to get right the way down the rest of<00:29:21.279> the<00:29:21.519> path<00:29:22.159> and<00:29:22.320> build<00:29:22.679> what<00:29:22.840> we<00:29:22.960> all<00:29:23.159> want 00:29:23.789 --> 00:29:23.799 align:start position:0% of the path and build what we all want 00:29:23.799 --> 00:29:25.310 align:start position:0% of the path and build what we all want which<00:29:23.919> is<00:29:24.120> essentially<00:29:24.559> a<00:29:24.720> world<00:29:25.000> in<00:29:25.159> which 00:29:25.310 --> 00:29:25.320 align:start position:0% which is essentially a world in which 00:29:25.320 --> 00:29:28.190 align:start position:0% which is essentially a world in which we've<00:29:25.559> got<00:29:25.840> non-state<00:29:26.720> public<00:29:27.120> goods<00:29:27.840> which 00:29:28.190 --> 00:29:28.200 align:start position:0% we've got non-state public goods which 00:29:28.200 --> 00:29:29.990 align:start position:0% we've got non-state public goods which cover<00:29:28.480> the<00:29:28.600> needs<00:29:28.919> that<00:29:29.080> Humanity<00:29:29.600> has<00:29:29.840> that 00:29:29.990 --> 00:29:30.000 align:start position:0% cover the needs that Humanity has that 00:29:30.000 --> 00:29:31.310 align:start position:0% cover the needs that Humanity has that the<00:29:30.080> states<00:29:30.320> have<00:29:30.480> never<00:29:30.679> been<00:29:30.840> able<00:29:31.080> to 00:29:31.310 --> 00:29:31.320 align:start position:0% the states have never been able to 00:29:31.320 --> 00:29:33.909 align:start position:0% the states have never been able to fulfill<00:29:32.320> and<00:29:32.480> maybe<00:29:32.760> in<00:29:32.880> the<00:29:33.039> long<00:29:33.320> run<00:29:33.799> we 00:29:33.909 --> 00:29:33.919 align:start position:0% fulfill and maybe in the long run we 00:29:33.919 --> 00:29:35.549 align:start position:0% fulfill and maybe in the long run we find<00:29:34.200> more<00:29:34.440> efficient<00:29:34.799> ways<00:29:34.960> of<00:29:35.120> doing<00:29:35.360> a<00:29:35.440> lot 00:29:35.549 --> 00:29:35.559 align:start position:0% find more efficient ways of doing a lot 00:29:35.559 --> 00:29:36.990 align:start position:0% find more efficient ways of doing a lot of<00:29:35.640> the<00:29:35.760> jobs<00:29:35.960> that<00:29:36.159> the<00:29:36.279> state<00:29:36.519> currently 00:29:36.990 --> 00:29:37.000 align:start position:0% of the jobs that the state currently 00:29:37.000 --> 00:29:38.990 align:start position:0% of the jobs that the state currently does<00:29:37.760> so<00:29:38.000> that<00:29:38.120> we<00:29:38.200> can<00:29:38.320> leave<00:29:38.559> the<00:29:38.679> state<00:29:38.880> to 00:29:38.990 --> 00:29:39.000 align:start position:0% does so that we can leave the state to 00:29:39.000 --> 00:29:40.750 align:start position:0% does so that we can leave the state to do<00:29:39.159> the<00:29:39.279> hard<00:29:39.519> work<00:29:39.760> that<00:29:39.880> nobody<00:29:40.200> else<00:29:40.519> seems 00:29:40.750 --> 00:29:40.760 align:start position:0% do the hard work that nobody else seems 00:29:40.760 --> 00:29:42.230 align:start position:0% do the hard work that nobody else seems to<00:29:40.880> know<00:29:41.000> how<00:29:41.120> to<00:29:41.240> do<00:29:41.399> like<00:29:41.559> running<00:29:41.960> Public 00:29:42.230 --> 00:29:42.240 align:start position:0% to know how to do like running Public 00:29:42.240 --> 00:29:44.269 align:start position:0% to know how to do like running Public Health<00:29:42.519> Systems<00:29:42.960> efficiently<00:29:43.840> but<00:29:44.080> get<00:29:44.159> it 00:29:44.269 --> 00:29:44.279 align:start position:0% Health Systems efficiently but get it 00:29:44.279 --> 00:29:46.190 align:start position:0% Health Systems efficiently but get it out<00:29:44.399> of<00:29:44.519> the<00:29:44.640> areas<00:29:44.919> where<00:29:45.080> it<00:29:45.240> consistently 00:29:46.190 --> 00:29:46.200 align:start position:0% out of the areas where it consistently 00:29:46.200 --> 00:29:48.149 align:start position:0% out of the areas where it consistently underperforms<00:29:47.200> which<00:29:47.360> is<00:29:47.760> pretty<00:29:47.960> much 00:29:48.149 --> 00:29:48.159 align:start position:0% underperforms which is pretty much 00:29:48.159 --> 00:29:53.389 align:start position:0% underperforms which is pretty much everything<00:29:48.840> else<00:29:50.080> um<00:29:51.080> so<00:29:51.720> I<00:29:52.000> think<00:29:52.760> I<00:29:52.840> have<00:29:53.200> two 00:29:53.389 --> 00:29:53.399 align:start position:0% everything else um so I think I have two 00:29:53.399 --> 00:29:54.870 align:start position:0% everything else um so I think I have two more<00:29:53.679> little<00:29:54.039> points<00:29:54.399> and<00:29:54.519> then<00:29:54.600> we<00:29:54.720> should 00:29:54.870 --> 00:29:54.880 align:start position:0% more little points and then we should 00:29:54.880 --> 00:29:56.909 align:start position:0% more little points and then we should stop<00:29:55.080> and<00:29:55.200> take<00:29:55.320> a<00:29:55.440> couple<00:29:55.600> of<00:29:55.760> questions<00:29:56.559> and 00:29:56.909 --> 00:29:56.919 align:start position:0% stop and take a couple of questions and 00:29:56.919 --> 00:29:58.590 align:start position:0% stop and take a couple of questions and fingers<00:29:57.399> crossed<00:29:57.760> somebody<00:29:58.240> very<00:29:58.360> special 00:29:58.590 --> 00:29:58.600 align:start position:0% fingers crossed somebody very special 00:29:58.600 --> 00:30:00.950 align:start position:0% fingers crossed somebody very special should<00:29:58.799> arrive<00:29:59.000> in<00:29:59.120> a<00:29:59.279> taxi<00:29:59.960> immediately 00:30:00.950 --> 00:30:00.960 align:start position:0% should arrive in a taxi immediately 00:30:00.960 --> 00:30:03.110 align:start position:0% should arrive in a taxi immediately thereafter<00:30:01.960> the<00:30:02.080> two<00:30:02.279> little<00:30:02.480> details<00:30:02.880> I<00:30:03.039> want 00:30:03.110 --> 00:30:03.120 align:start position:0% thereafter the two little details I want 00:30:03.120 --> 00:30:05.830 align:start position:0% thereafter the two little details I want to<00:30:03.519> refine<00:30:04.039> are<00:30:04.320> this<00:30:05.000> when<00:30:05.159> I<00:30:05.279> say<00:30:05.480> social 00:30:05.830 --> 00:30:05.840 align:start position:0% to refine are this when I say social 00:30:05.840 --> 00:30:08.070 align:start position:0% to refine are this when I say social contract<00:30:06.559> I<00:30:06.640> don't<00:30:06.919> necessarily<00:30:07.399> mean<00:30:07.640> smart 00:30:08.070 --> 00:30:08.080 align:start position:0% contract I don't necessarily mean smart 00:30:08.080 --> 00:30:10.230 align:start position:0% contract I don't necessarily mean smart contract<00:30:09.080> what<00:30:09.159> I<00:30:09.279> mean<00:30:09.480> is<00:30:09.640> the<00:30:09.760> willingness 00:30:10.230 --> 00:30:10.240 align:start position:0% contract what I mean is the willingness 00:30:10.240 --> 00:30:12.029 align:start position:0% contract what I mean is the willingness of<00:30:10.399> ordinary<00:30:10.919> individuals<00:30:11.440> who<00:30:11.559> are<00:30:11.640> making<00:30:11.880> a 00:30:12.029 --> 00:30:12.039 align:start position:0% of ordinary individuals who are making a 00:30:12.039 --> 00:30:14.350 align:start position:0% of ordinary individuals who are making a good<00:30:12.200> living<00:30:12.519> out<00:30:12.640> of<00:30:12.799> these<00:30:13.120> ecosystems<00:30:14.120> to 00:30:14.350 --> 00:30:14.360 align:start position:0% good living out of these ecosystems to 00:30:14.360 --> 00:30:16.830 align:start position:0% good living out of these ecosystems to invest<00:30:14.960> their<00:30:15.440> money<00:30:16.360> some<00:30:16.559> of<00:30:16.679> their 00:30:16.830 --> 00:30:16.840 align:start position:0% invest their money some of their 00:30:16.840 --> 00:30:19.029 align:start position:0% invest their money some of their discretionary<00:30:17.480> spending<00:30:18.240> in<00:30:18.440> supporting<00:30:18.919> the 00:30:19.029 --> 00:30:19.039 align:start position:0% discretionary spending in supporting the 00:30:19.039 --> 00:30:20.350 align:start position:0% discretionary spending in supporting the people<00:30:19.279> that<00:30:19.399> are<00:30:19.559> dedicating<00:30:20.000> their<00:30:20.159> lives 00:30:20.350 --> 00:30:20.360 align:start position:0% people that are dedicating their lives 00:30:20.360 --> 00:30:22.750 align:start position:0% people that are dedicating their lives to<00:30:20.519> keeping<00:30:20.760> the<00:30:20.880> platform<00:30:21.760> infrastructure 00:30:22.750 --> 00:30:22.760 align:start position:0% to keeping the platform infrastructure 00:30:22.760 --> 00:30:25.549 align:start position:0% to keeping the platform infrastructure healthy<00:30:23.200> and<00:30:23.840> existent<00:30:24.840> right<00:30:25.159> there's<00:30:25.360> a 00:30:25.549 --> 00:30:25.559 align:start position:0% healthy and existent right there's a 00:30:25.559 --> 00:30:27.669 align:start position:0% healthy and existent right there's a real<00:30:25.840> need<00:30:26.080> for<00:30:26.279> people<00:30:26.440> to<00:30:26.640> continue<00:30:26.919> to<00:30:27.120> plow 00:30:27.669 --> 00:30:27.679 align:start position:0% real need for people to continue to plow 00:30:27.679 --> 00:30:29.669 align:start position:0% real need for people to continue to plow in<00:30:28.039> into<00:30:28.360> that<00:30:28.559> work<00:30:28.840> a<00:30:28.960> lot<00:30:29.080> of<00:30:29.240> which<00:30:29.360> is 00:30:29.669 --> 00:30:29.679 align:start position:0% in into that work a lot of which is 00:30:29.679 --> 00:30:32.070 align:start position:0% in into that work a lot of which is frankly<00:30:30.080> quite<00:30:30.360> D<00:30:30.559> and<00:30:30.799> very<00:30:31.039> very<00:30:31.480> difficult 00:30:32.070 --> 00:30:32.080 align:start position:0% frankly quite D and very very difficult 00:30:32.080 --> 00:30:33.389 align:start position:0% frankly quite D and very very difficult and<00:30:32.200> on<00:30:32.360> the<00:30:32.480> other<00:30:32.679> side<00:30:32.840> The<00:30:32.960> Innovation 00:30:33.389 --> 00:30:33.399 align:start position:0% and on the other side The Innovation 00:30:33.399 --> 00:30:35.430 align:start position:0% and on the other side The Innovation work<00:30:33.679> associate<00:30:34.240> is<00:30:34.399> often<00:30:34.640> quite<00:30:34.840> obstru<00:30:35.279> and 00:30:35.430 --> 00:30:35.440 align:start position:0% work associate is often quite obstru and 00:30:35.440 --> 00:30:37.070 align:start position:0% work associate is often quite obstru and highly<00:30:35.760> Technical<00:30:36.440> and<00:30:36.559> you<00:30:36.720> never<00:30:36.880> know 00:30:37.070 --> 00:30:37.080 align:start position:0% highly Technical and you never know 00:30:37.080 --> 00:30:38.350 align:start position:0% highly Technical and you never know whether<00:30:37.240> you're<00:30:37.399> going<00:30:37.559> down<00:30:37.720> a<00:30:37.840> rabbit<00:30:38.159> hole 00:30:38.350 --> 00:30:38.360 align:start position:0% whether you're going down a rabbit hole 00:30:38.360 --> 00:30:41.549 align:start position:0% whether you're going down a rabbit hole or<00:30:38.760> a<00:30:38.840> vein<00:30:39.080> of<00:30:39.240> gold<00:30:40.200> so<00:30:40.840> you<00:30:40.960> know<00:30:41.159> it's<00:30:41.320> about 00:30:41.549 --> 00:30:41.559 align:start position:0% or a vein of gold so you know it's about 00:30:41.559 --> 00:30:44.389 align:start position:0% or a vein of gold so you know it's about a<00:30:41.760> creation<00:30:42.159> of<00:30:42.279> a<00:30:42.679> conscious<00:30:43.200> willingness<00:30:44.200> to 00:30:44.389 --> 00:30:44.399 align:start position:0% a creation of a conscious willingness to 00:30:44.399 --> 00:30:46.830 align:start position:0% a creation of a conscious willingness to put<00:30:44.760> back<00:30:45.399> our<00:30:45.600> winnings<00:30:46.279> from<00:30:46.600> these 00:30:46.830 --> 00:30:46.840 align:start position:0% put back our winnings from these 00:30:46.840 --> 00:30:49.909 align:start position:0% put back our winnings from these extraordinary<00:30:47.600> games<00:30:47.919> that<00:30:48.080> we<00:30:48.279> play<00:30:49.159> into 00:30:49.909 --> 00:30:49.919 align:start position:0% extraordinary games that we play into 00:30:49.919 --> 00:30:51.630 align:start position:0% extraordinary games that we play into the<00:30:50.039> Machinery<00:30:50.600> that<00:30:50.720> allows<00:30:51.039> those<00:30:51.240> games<00:30:51.440> to 00:30:51.630 --> 00:30:51.640 align:start position:0% the Machinery that allows those games to 00:30:51.640 --> 00:30:53.870 align:start position:0% the Machinery that allows those games to exist<00:30:51.960> in<00:30:52.039> the<00:30:52.159> first<00:30:52.440> place<00:30:53.279> right<00:30:53.519> how<00:30:53.640> do<00:30:53.760> we 00:30:53.870 --> 00:30:53.880 align:start position:0% exist in the first place right how do we 00:30:53.880 --> 00:30:55.389 align:start position:0% exist in the first place right how do we make<00:30:54.039> sure<00:30:54.200> that<00:30:54.320> vavic<00:30:54.799> always<00:30:55.000> has<00:30:55.120> a<00:30:55.240> team 00:30:55.389 --> 00:30:55.399 align:start position:0% make sure that vavic always has a team 00:30:55.399 --> 00:30:58.230 align:start position:0% make sure that vavic always has a team of<00:30:55.639> guys<00:30:56.360> and<00:30:56.679> girls<00:30:57.240> to<00:30:57.440> get<00:30:57.600> to<00:30:57.720> the<00:30:58.000> bottom 00:30:58.230 --> 00:30:58.240 align:start position:0% of guys and girls to get to the bottom 00:30:58.240 --> 00:30:59.669 align:start position:0% of guys and girls to get to the bottom of<00:30:58.360> the<00:30:58.480> questions<00:30:58.799> that<00:30:58.919> he's<00:30:59.120> interested<00:30:59.480> in 00:30:59.669 --> 00:30:59.679 align:start position:0% of the questions that he's interested in 00:30:59.679 --> 00:31:02.149 align:start position:0% of the questions that he's interested in that<00:30:59.880> day<00:31:00.720> right<00:31:01.240> it's<00:31:01.399> a<00:31:01.559> pretty<00:31:01.799> simple 00:31:02.149 --> 00:31:02.159 align:start position:0% that day right it's a pretty simple 00:31:02.159 --> 00:31:03.710 align:start position:0% that day right it's a pretty simple question<00:31:02.799> let<00:31:02.919> me<00:31:03.039> tell<00:31:03.159> you<00:31:03.320> the<00:31:03.440> people<00:31:03.639> that 00:31:03.710 --> 00:31:03.720 align:start position:0% question let me tell you the people that 00:31:03.720 --> 00:31:05.230 align:start position:0% question let me tell you the people that have<00:31:03.840> been<00:31:03.960> trying<00:31:04.159> to<00:31:04.360> answer<00:31:04.720> that<00:31:04.919> question 00:31:05.230 --> 00:31:05.240 align:start position:0% have been trying to answer that question 00:31:05.240 --> 00:31:07.789 align:start position:0% have been trying to answer that question are<00:31:05.440> having<00:31:05.600> a<00:31:05.720> hard<00:31:05.960> time<00:31:06.159> with<00:31:06.279> it<00:31:07.080> right 00:31:07.789 --> 00:31:07.799 align:start position:0% are having a hard time with it right 00:31:07.799 --> 00:31:10.230 align:start position:0% are having a hard time with it right second<00:31:08.159> piece<00:31:08.320> of<00:31:08.559> this<00:31:09.360> how<00:31:09.480> do<00:31:09.639> we<00:31:09.799> get<00:31:10.000> into 00:31:10.230 --> 00:31:10.240 align:start position:0% second piece of this how do we get into 00:31:10.240 --> 00:31:12.310 align:start position:0% second piece of this how do we get into a<00:31:10.399> position<00:31:10.799> where<00:31:11.000> people<00:31:11.679> understand<00:31:12.159> that 00:31:12.310 --> 00:31:12.320 align:start position:0% a position where people understand that 00:31:12.320 --> 00:31:13.990 align:start position:0% a position where people understand that although<00:31:12.639> we<00:31:12.720> are<00:31:12.919> extremely<00:31:13.360> diverse<00:31:13.679> in<00:31:13.799> our 00:31:13.990 --> 00:31:14.000 align:start position:0% although we are extremely diverse in our 00:31:14.000 --> 00:31:16.190 align:start position:0% although we are extremely diverse in our politics<00:31:14.320> and<00:31:14.519> everything<00:31:14.880> else<00:31:15.679> there<00:31:15.799> is<00:31:15.919> a 00:31:16.190 --> 00:31:16.200 align:start position:0% politics and everything else there is a 00:31:16.200 --> 00:31:17.830 align:start position:0% politics and everything else there is a fundamental<00:31:16.960> sense<00:31:17.240> that<00:31:17.360> we<00:31:17.480> know<00:31:17.600> that<00:31:17.720> a 00:31:17.830 --> 00:31:17.840 align:start position:0% fundamental sense that we know that a 00:31:17.840 --> 00:31:19.909 align:start position:0% fundamental sense that we know that a better<00:31:18.080> world<00:31:18.360> is<00:31:18.600> possible<00:31:19.360> and<00:31:19.519> that<00:31:19.720> these 00:31:19.909 --> 00:31:19.919 align:start position:0% better world is possible and that these 00:31:19.919 --> 00:31:22.110 align:start position:0% better world is possible and that these tools<00:31:20.399> are<00:31:20.600> in<00:31:20.799> some<00:31:21.120> sense<00:31:21.480> common<00:31:21.799> human 00:31:22.110 --> 00:31:22.120 align:start position:0% tools are in some sense common human 00:31:22.120 --> 00:31:24.750 align:start position:0% tools are in some sense common human Assets<00:31:22.440> in<00:31:22.559> the<00:31:22.679> same<00:31:22.840> way<00:31:22.960> that<00:31:23.080> Wikipedia<00:31:23.760> is 00:31:24.750 --> 00:31:24.760 align:start position:0% Assets in the same way that Wikipedia is 00:31:24.760 --> 00:31:27.110 align:start position:0% Assets in the same way that Wikipedia is you<00:31:24.880> know<00:31:25.200> I'd<00:31:25.440> really<00:31:25.720> like<00:31:25.880> us<00:31:26.039> to<00:31:26.279> see<00:31:26.960> a 00:31:27.110 --> 00:31:27.120 align:start position:0% you know I'd really like us to see a 00:31:27.120 --> 00:31:28.830 align:start position:0% you know I'd really like us to see a firming<00:31:27.519> up<00:31:27.639> of<00:31:27.760> our<00:31:28.080> relationship<00:31:28.600> with<00:31:28.760> the 00:31:28.830 --> 00:31:28.840 align:start position:0% firming up of our relationship with the 00:31:28.840 --> 00:31:31.149 align:start position:0% firming up of our relationship with the other<00:31:29.080> great<00:31:29.399> public<00:31:29.720> works<00:31:30.360> you<00:31:30.440> know<00:31:30.679> Global 00:31:31.149 --> 00:31:31.159 align:start position:0% other great public works you know Global 00:31:31.159 --> 00:31:33.750 align:start position:0% other great public works you know Global Public<00:31:31.480> Works<00:31:32.240> processes<00:31:33.240> all<00:31:33.519> that<00:31:33.639> the 00:31:33.750 --> 00:31:33.760 align:start position:0% Public Works processes all that the 00:31:33.760 --> 00:31:36.310 align:start position:0% Public Works processes all that the internet<00:31:34.200> has<00:31:34.399> produced<00:31:35.399> so<00:31:35.559> that<00:31:35.679> people 00:31:36.310 --> 00:31:36.320 align:start position:0% internet has produced so that people 00:31:36.320 --> 00:31:37.789 align:start position:0% internet has produced so that people understand<00:31:36.559> that<00:31:36.720> ethereum<00:31:37.159> is<00:31:37.279> a<00:31:37.399> project 00:31:37.789 --> 00:31:37.799 align:start position:0% understand that ethereum is a project 00:31:37.799 --> 00:31:40.509 align:start position:0% understand that ethereum is a project like<00:31:38.159> Wikipedia<00:31:39.159> it's<00:31:39.279> a<00:31:39.480> global<00:31:39.919> public<00:31:40.240> work 00:31:40.509 --> 00:31:40.519 align:start position:0% like Wikipedia it's a global public work 00:31:40.519 --> 00:31:42.870 align:start position:0% like Wikipedia it's a global public work it's<00:31:40.639> a<00:31:40.840> global<00:31:41.240> public<00:31:41.559> good<00:31:42.200> and<00:31:42.480> language 00:31:42.870 --> 00:31:42.880 align:start position:0% it's a global public good and language 00:31:42.880 --> 00:31:45.070 align:start position:0% it's a global public good and language like<00:31:43.039> the<00:31:43.120> world<00:31:43.480> computer<00:31:44.000> language<00:31:44.799> is 00:31:45.070 --> 00:31:45.080 align:start position:0% like the world computer language is 00:31:45.080 --> 00:31:46.710 align:start position:0% like the world computer language is excellent<00:31:45.480> for<00:31:45.679> communicating<00:31:46.279> the<00:31:46.440> idea 00:31:46.710 --> 00:31:46.720 align:start position:0% excellent for communicating the idea 00:31:46.720 --> 00:31:48.750 align:start position:0% excellent for communicating the idea that<00:31:46.799> it's<00:31:46.919> a<00:31:47.080> single<00:31:47.480> global<00:31:47.919> system<00:31:48.600> what 00:31:48.750 --> 00:31:48.760 align:start position:0% that it's a single global system what 00:31:48.760 --> 00:31:50.310 align:start position:0% that it's a single global system what I'd<00:31:48.919> like<00:31:49.039> us<00:31:49.200> to<00:31:49.320> do<00:31:49.440> is<00:31:49.559> build<00:31:49.840> out<00:31:50.000> the<00:31:50.159> rest 00:31:50.310 --> 00:31:50.320 align:start position:0% I'd like us to do is build out the rest 00:31:50.320 --> 00:31:52.950 align:start position:0% I'd like us to do is build out the rest of<00:31:50.440> the<00:31:50.600> story<00:31:51.360> so<00:31:51.600> that<00:31:52.039> 5<00:31:52.279> years<00:31:52.480> from<00:31:52.679> now<00:31:52.799> or 00:31:52.950 --> 00:31:52.960 align:start position:0% of the story so that 5 years from now or 00:31:52.960 --> 00:31:54.269 align:start position:0% of the story so that 5 years from now or three<00:31:53.200> years<00:31:53.440> from<00:31:53.600> now<00:31:53.799> when<00:31:53.880> you<00:31:54.000> ask<00:31:54.159> an 00:31:54.269 --> 00:31:54.279 align:start position:0% three years from now when you ask an 00:31:54.279 --> 00:31:56.549 align:start position:0% three years from now when you ask an ordinary<00:31:54.760> person<00:31:55.120> what<00:31:55.240> is<00:31:55.399> ethereum<00:31:56.399> they 00:31:56.549 --> 00:31:56.559 align:start position:0% ordinary person what is ethereum they 00:31:56.559 --> 00:31:58.430 align:start position:0% ordinary person what is ethereum they frame<00:31:56.840> it<00:31:57.039> as<00:31:57.200> being<00:31:57.919> something<00:31:58.200> like 00:31:58.430 --> 00:31:58.440 align:start position:0% frame it as being something like 00:31:58.440 --> 00:32:01.269 align:start position:0% frame it as being something like Wikipedia<00:31:59.440> rather<00:31:59.679> than<00:31:59.919> something<00:32:00.240> like<00:32:00.440> or 00:32:01.269 --> 00:32:01.279 align:start position:0% Wikipedia rather than something like or 00:32:01.279 --> 00:32:02.269 align:start position:0% Wikipedia rather than something like or something<00:32:01.600> like 00:32:02.269 --> 00:32:02.279 align:start position:0% something like 00:32:02.279 --> 00:32:04.830 align:start position:0% something like Oracle<00:32:03.279> so<00:32:03.519> that's<00:32:03.720> it<00:32:04.200> that's<00:32:04.360> what<00:32:04.480> I<00:32:04.600> had<00:32:04.679> to 00:32:04.830 --> 00:32:04.840 align:start position:0% Oracle so that's it that's what I had to 00:32:04.840 --> 00:32:18.230 align:start position:0% Oracle so that's it that's what I had to say<00:32:05.279> thank 00:32:18.230 --> 00:32:18.240 align:start position:0% 00:32:18.240 --> 00:32:20.590 align:start position:0% you<00:32:19.240> sure 00:32:20.590 --> 00:32:20.600 align:start position:0% you sure 00:32:20.600 --> 00:32:25.509 align:start position:0% you sure questions<00:32:21.600> uh<00:32:22.600> before 00:32:25.509 --> 00:32:25.519 align:start position:0% 00:32:25.519 --> 00:32:28.149 align:start position:0% we<00:32:26.519> before<00:32:26.799> we<00:32:27.000> totally<00:32:27.399> conclude<00:32:28.039> does 00:32:28.149 --> 00:32:28.159 align:start position:0% we before we totally conclude does 00:32:28.159 --> 00:32:30.350 align:start position:0% we before we totally conclude does anyone<00:32:28.399> have<00:32:28.519> a<00:32:28.679> question<00:32:28.919> or<00:32:29.080> two<00:32:29.360> for 00:32:30.350 --> 00:32:30.360 align:start position:0% anyone have a question or two for 00:32:30.360 --> 00:32:34.389 align:start position:0% anyone have a question or two for vet<00:32:31.360> hey<00:32:31.639> Ian<00:32:32.639> where'd<00:32:32.799> he<00:32:33.000> go<00:32:34.000> find<00:32:34.200> a 00:32:34.389 --> 00:32:34.399 align:start position:0% vet hey Ian where'd he go find a 00:32:34.399 --> 00:32:38.909 align:start position:0% vet hey Ian where'd he go find a question<00:32:35.120> Ian<00:32:36.080> can<00:32:36.240> you<00:32:36.360> find<00:32:36.559> out<00:32:36.840> when<00:32:37.559> she's 00:32:38.909 --> 00:32:38.919 align:start position:0% question Ian can you find out when she's 00:32:38.919 --> 00:32:40.870 align:start position:0% question Ian can you find out when she's arriving<00:32:39.919> come<00:32:40.039> on<00:32:40.200> somebody<00:32:40.480> has<00:32:40.559> a<00:32:40.679> question 00:32:40.870 --> 00:32:40.880 align:start position:0% arriving come on somebody has a question 00:32:40.880 --> 00:32:48.310 align:start position:0% arriving come on somebody has a question don't<00:32:41.039> be<00:32:41.159> afraid<00:32:41.360> I<00:32:41.440> won't<00:32:41.679> bite 00:32:48.310 --> 00:32:48.320 align:start position:0% 00:32:48.320 --> 00:32:51.870 align:start position:0% hard<00:32:49.320> hey<00:32:50.159> how<00:32:50.279> do<00:32:50.440> you<00:32:50.639> drive<00:32:51.159> Global 00:32:51.870 --> 00:32:51.880 align:start position:0% hard hey how do you drive Global 00:32:51.880 --> 00:32:55.549 align:start position:0% hard hey how do you drive Global adoption<00:32:52.880> how<00:32:53.039> do<00:32:53.159> you<00:32:53.320> get<00:32:53.519> the<00:32:53.720> people<00:32:54.519> using 00:32:55.549 --> 00:32:55.559 align:start position:0% adoption how do you get the people using 00:32:55.559 --> 00:32:58.430 align:start position:0% adoption how do you get the people using ethereum<00:32:56.559> Okay<00:32:56.880> so<00:32:57.840> the<00:32:57.919> question<00:32:58.120> is<00:32:58.240> how<00:32:58.360> do 00:32:58.430 --> 00:32:58.440 align:start position:0% ethereum Okay so the question is how do 00:32:58.440 --> 00:33:00.389 align:start position:0% ethereum Okay so the question is how do we<00:32:58.559> drive<00:32:58.880> Global<00:32:59.159> adoption<00:32:59.960> I<00:33:00.039> think<00:33:00.240> the 00:33:00.389 --> 00:33:00.399 align:start position:0% we drive Global adoption I think the 00:33:00.399 --> 00:33:02.149 align:start position:0% we drive Global adoption I think the answer<00:33:00.720> to<00:33:00.919> that<00:33:01.159> frankly<00:33:01.639> is<00:33:01.760> that<00:33:01.960> if<00:33:02.039> we 00:33:02.149 --> 00:33:02.159 align:start position:0% answer to that frankly is that if we 00:33:02.159 --> 00:33:04.070 align:start position:0% answer to that frankly is that if we knew<00:33:02.480> how<00:33:02.600> many<00:33:02.840> people<00:33:03.039> were<00:33:03.200> using<00:33:03.519> ethereum 00:33:04.070 --> 00:33:04.080 align:start position:0% knew how many people were using ethereum 00:33:04.080 --> 00:33:06.870 align:start position:0% knew how many people were using ethereum right<00:33:04.279> now<00:33:05.080> we'<00:33:05.440> probably<00:33:05.919> observe<00:33:06.320> that<00:33:06.440> it's 00:33:06.870 --> 00:33:06.880 align:start position:0% right now we' probably observe that it's 00:33:06.880 --> 00:33:09.549 align:start position:0% right now we' probably observe that it's doubling<00:33:07.519> something<00:33:08.039> like<00:33:08.320> once<00:33:08.600> every<00:33:08.840> 3 00:33:09.549 --> 00:33:09.559 align:start position:0% doubling something like once every 3 00:33:09.559 --> 00:33:12.310 align:start position:0% doubling something like once every 3 months<00:33:10.559> right<00:33:11.039> I<00:33:11.200> I<00:33:11.360> suspect<00:33:11.720> that<00:33:11.840> if<00:33:11.919> we<00:33:12.080> had 00:33:12.310 --> 00:33:12.320 align:start position:0% months right I I suspect that if we had 00:33:12.320 --> 00:33:15.149 align:start position:0% months right I I suspect that if we had actual<00:33:13.080> numbers<00:33:14.080> uh<00:33:14.320> and<00:33:14.480> we<00:33:14.559> were<00:33:14.760> measuring 00:33:15.149 --> 00:33:15.159 align:start position:0% actual numbers uh and we were measuring 00:33:15.159 --> 00:33:16.590 align:start position:0% actual numbers uh and we were measuring the<00:33:15.360> right<00:33:15.600> things<00:33:16.039> so<00:33:16.159> it<00:33:16.279> might<00:33:16.440> be<00:33:16.519> the 00:33:16.590 --> 00:33:16.600 align:start position:0% the right things so it might be the 00:33:16.600 --> 00:33:17.669 align:start position:0% the right things so it might be the number<00:33:16.799> of<00:33:16.919> people<00:33:17.120> that<00:33:17.240> are<00:33:17.360> sitting<00:33:17.600> in 00:33:17.669 --> 00:33:17.679 align:start position:0% number of people that are sitting in 00:33:17.679 --> 00:33:19.669 align:start position:0% number of people that are sitting in their<00:33:17.840> bedrooms<00:33:18.799> you<00:33:18.880> know<00:33:19.080> hacking<00:33:19.399> away<00:33:19.600> on 00:33:19.669 --> 00:33:19.679 align:start position:0% their bedrooms you know hacking away on 00:33:19.679 --> 00:33:21.029 align:start position:0% their bedrooms you know hacking away on a<00:33:19.760> chunk<00:33:19.960> of<00:33:20.120> solidity<00:33:20.600> code<00:33:20.840> that<00:33:20.919> they're 00:33:21.029 --> 00:33:21.039 align:start position:0% a chunk of solidity code that they're 00:33:21.039 --> 00:33:21.990 align:start position:0% a chunk of solidity code that they're running<00:33:21.279> on<00:33:21.360> a 00:33:21.990 --> 00:33:22.000 align:start position:0% running on a 00:33:22.000 --> 00:33:24.269 align:start position:0% running on a testet<00:33:23.000> uh<00:33:23.120> I<00:33:23.279> suspect<00:33:23.639> that<00:33:23.799> that<00:33:23.919> number<00:33:24.159> is 00:33:24.269 --> 00:33:24.279 align:start position:0% testet uh I suspect that that number is 00:33:24.279 --> 00:33:26.310 align:start position:0% testet uh I suspect that that number is doubling<00:33:24.639> every<00:33:24.840> 3<00:33:25.039> months<00:33:25.399> if<00:33:25.519> it's<00:33:25.799> spending 00:33:26.310 --> 00:33:26.320 align:start position:0% doubling every 3 months if it's spending 00:33:26.320 --> 00:33:28.710 align:start position:0% doubling every 3 months if it's spending in<00:33:26.480> the<00:33:26.639> space<00:33:26.919> by<00:33:27.080> larger<00:33:27.360> Institution 00:33:28.710 --> 00:33:28.720 align:start position:0% in the space by larger Institution 00:33:28.720 --> 00:33:30.590 align:start position:0% in the space by larger Institution it<00:33:28.960> could<00:33:29.120> well<00:33:29.279> be<00:33:29.399> doubling<00:33:29.840> every<00:33:30.039> 3<00:33:30.240> weeks 00:33:30.590 --> 00:33:30.600 align:start position:0% it could well be doubling every 3 weeks 00:33:30.600 --> 00:33:32.269 align:start position:0% it could well be doubling every 3 weeks I<00:33:30.639> mean<00:33:30.799> it's<00:33:31.000> just<00:33:31.320> crazy<00:33:31.720> how<00:33:31.919> fast<00:33:32.120> people 00:33:32.269 --> 00:33:32.279 align:start position:0% I mean it's just crazy how fast people 00:33:32.279 --> 00:33:33.669 align:start position:0% I mean it's just crazy how fast people are<00:33:32.399> pouring<00:33:32.720> into<00:33:32.919> the 00:33:33.669 --> 00:33:33.679 align:start position:0% are pouring into the 00:33:33.679 --> 00:33:35.710 align:start position:0% are pouring into the space<00:33:34.679> you<00:33:34.760> know<00:33:34.960> trying<00:33:35.159> to<00:33:35.279> buy<00:33:35.440> knowledge 00:33:35.710 --> 00:33:35.720 align:start position:0% space you know trying to buy knowledge 00:33:35.720 --> 00:33:37.950 align:start position:0% space you know trying to buy knowledge and<00:33:35.960> expertise<00:33:36.960> I<00:33:37.039> think<00:33:37.200> we're<00:33:37.399> worrying<00:33:37.840> a 00:33:37.950 --> 00:33:37.960 align:start position:0% and expertise I think we're worrying a 00:33:37.960 --> 00:33:41.110 align:start position:0% and expertise I think we're worrying a little<00:33:38.120> bit<00:33:38.320> too<00:33:38.519> much<00:33:38.720> about<00:33:39.480> adoption<00:33:40.480> um<00:33:40.919> oh 00:33:41.110 --> 00:33:41.120 align:start position:0% little bit too much about adoption um oh 00:33:41.120 --> 00:33:42.909 align:start position:0% little bit too much about adoption um oh fantastic<00:33:41.639> come 00:33:42.909 --> 00:33:42.919 align:start position:0% fantastic come 00:33:42.919 --> 00:33:45.909 align:start position:0% fantastic come on<00:33:43.919> yeah<00:33:44.240> they're<00:33:44.360> Ming<00:33:44.720> her<00:33:45.399> so<00:33:45.720> I<00:33:45.799> think 00:33:45.909 --> 00:33:45.919 align:start position:0% on yeah they're Ming her so I think 00:33:45.919 --> 00:33:47.470 align:start position:0% on yeah they're Ming her so I think they're<00:33:46.080> worrying<00:33:46.679> I<00:33:46.760> think<00:33:46.880> we're<00:33:47.039> worrying 00:33:47.470 --> 00:33:47.480 align:start position:0% they're worrying I think we're worrying 00:33:47.480 --> 00:33:49.750 align:start position:0% they're worrying I think we're worrying too<00:33:47.720> much<00:33:47.960> about<00:33:48.240> adoption<00:33:49.120> and<00:33:49.279> not<00:33:49.519> enough 00:33:49.750 --> 00:33:49.760 align:start position:0% too much about adoption and not enough 00:33:49.760 --> 00:33:52.190 align:start position:0% too much about adoption and not enough about<00:33:50.000> fundamental<00:33:50.600> value<00:33:51.240> once<00:33:51.440> we<00:33:51.600> get<00:33:51.840> daps 00:33:52.190 --> 00:33:52.200 align:start position:0% about fundamental value once we get daps 00:33:52.200 --> 00:33:54.629 align:start position:0% about fundamental value once we get daps that<00:33:52.399> people<00:33:52.600> can<00:33:52.840> use<00:33:53.760> the<00:33:53.919> real<00:33:54.200> adoption 00:33:54.629 --> 00:33:54.639 align:start position:0% that people can use the real adoption 00:33:54.639 --> 00:33:55.990 align:start position:0% that people can use the real adoption questions<00:33:54.960> will<00:33:55.120> be<00:33:55.279> about<00:33:55.559> getting<00:33:55.799> people 00:33:55.990 --> 00:33:56.000 align:start position:0% questions will be about getting people 00:33:56.000 --> 00:33:58.549 align:start position:0% questions will be about getting people to<00:33:56.159> use<00:33:56.360> the<00:33:56.519> daps<00:33:57.320> but<00:33:57.480> right<00:33:57.840> now<00:33:58.120> I<00:33:58.200> think<00:33:58.399> in 00:33:58.549 --> 00:33:58.559 align:start position:0% to use the daps but right now I think in 00:33:58.559 --> 00:34:01.029 align:start position:0% to use the daps but right now I think in terms<00:33:58.799> of<00:33:59.000> adoption<00:33:59.360> of<00:33:59.480> the<00:33:59.799> technology<00:34:00.799> we 00:34:01.029 --> 00:34:01.039 align:start position:0% terms of adoption of the technology we 00:34:01.039 --> 00:34:02.269 align:start position:0% terms of adoption of the technology we we're<00:34:01.240> basically<00:34:01.600> getting<00:34:01.840> adopted<00:34:02.159> from 00:34:02.269 --> 00:34:02.279 align:start position:0% we're basically getting adopted from 00:34:02.279 --> 00:34:04.190 align:start position:0% we're basically getting adopted from like<00:34:02.399> a<00:34:02.519> house<00:34:02.760> that<00:34:02.880> is<00:34:03.000> burning<00:34:03.960> you<00:34:04.039> know 00:34:04.190 --> 00:34:04.200 align:start position:0% like a house that is burning you know 00:34:04.200 --> 00:34:06.110 align:start position:0% like a house that is burning you know the<00:34:04.360> thing<00:34:04.480> is<00:34:04.679> just<00:34:04.960> covered<00:34:05.320> in<00:34:05.519> fire<00:34:05.960> right 00:34:06.110 --> 00:34:06.120 align:start position:0% the thing is just covered in fire right 00:34:06.120 --> 00:34:08.349 align:start position:0% the thing is just covered in fire right now<00:34:06.279> everywhere<00:34:06.600> you<00:34:06.720> look<00:34:06.960> something<00:34:07.359> goes 00:34:08.349 --> 00:34:08.359 align:start position:0% now everywhere you look something goes 00:34:08.359 --> 00:34:10.030 align:start position:0% now everywhere you look something goes so<00:34:08.760> I<00:34:08.839> don't<00:34:09.000> think<00:34:09.200> getting<00:34:09.520> people<00:34:09.720> to<00:34:09.839> use 00:34:10.030 --> 00:34:10.040 align:start position:0% so I don't think getting people to use 00:34:10.040 --> 00:34:11.270 align:start position:0% so I don't think getting people to use the<00:34:10.159> technology<00:34:10.560> or<00:34:10.720> invest<00:34:11.000> in<00:34:11.119> the 00:34:11.270 --> 00:34:11.280 align:start position:0% the technology or invest in the 00:34:11.280 --> 00:34:13.149 align:start position:0% the technology or invest in the technology<00:34:11.679> is<00:34:11.800> the<00:34:11.919> hard<00:34:12.159> part<00:34:12.760> once<00:34:13.040> there 00:34:13.149 --> 00:34:13.159 align:start position:0% technology is the hard part once there 00:34:13.159 --> 00:34:15.149 align:start position:0% technology is the hard part once there are<00:34:13.359> usable<00:34:13.879> daps<00:34:14.240> that<00:34:14.399> we<00:34:14.520> want<00:34:14.800> people<00:34:15.000> to 00:34:15.149 --> 00:34:15.159 align:start position:0% are usable daps that we want people to 00:34:15.159 --> 00:34:16.869 align:start position:0% are usable daps that we want people to get<00:34:15.320> using<00:34:16.000> I<00:34:16.079> think<00:34:16.240> all<00:34:16.440> of<00:34:16.599> that<00:34:16.720> will 00:34:16.869 --> 00:34:16.879 align:start position:0% get using I think all of that will 00:34:16.879 --> 00:34:20.510 align:start position:0% get using I think all of that will change<00:34:17.560> yeah<00:34:18.560> okay<00:34:19.200> one<00:34:19.359> more<00:34:19.679> short<00:34:20.040> question 00:34:20.510 --> 00:34:20.520 align:start position:0% change yeah okay one more short question 00:34:20.520 --> 00:34:22.149 align:start position:0% change yeah okay one more short question and<00:34:20.599> then<00:34:20.720> we<00:34:20.839> shall<00:34:21.000> do<00:34:21.119> the<00:34:21.200> fun 00:34:22.149 --> 00:34:22.159 align:start position:0% and then we shall do the fun 00:34:22.159 --> 00:34:26.030 align:start position:0% and then we shall do the fun thing<00:34:23.159> uh<00:34:23.359> so<00:34:23.800> who's<00:34:24.000> going<00:34:24.119> to<00:34:24.800> like<00:34:25.119> set<00:34:25.399> up 00:34:26.030 --> 00:34:26.040 align:start position:0% thing uh so who's going to like set up 00:34:26.040 --> 00:34:29.230 align:start position:0% thing uh so who's going to like set up the<00:34:26.520> the<00:34:26.960> target<00:34:27.359> the<00:34:27.760> place<00:34:28.040> where<00:34:28.240> we<00:34:29.079> where 00:34:29.230 --> 00:34:29.240 align:start position:0% the the target the place where we where 00:34:29.240 --> 00:34:32.909 align:start position:0% the the target the place where we where we<00:34:29.720> tithe<00:34:30.520> 1%<00:34:31.159> of<00:34:31.320> our<00:34:31.520> wallet<00:34:31.960> spending<00:34:32.520> or 00:34:32.909 --> 00:34:32.919 align:start position:0% we tithe 1% of our wallet spending or 00:34:32.919 --> 00:34:35.349 align:start position:0% we tithe 1% of our wallet spending or whatever<00:34:33.639> like<00:34:34.000> where<00:34:34.159> does<00:34:34.639> that<00:34:35.040> go<00:34:35.240> and 00:34:35.349 --> 00:34:35.359 align:start position:0% whatever like where does that go and 00:34:35.359 --> 00:34:36.869 align:start position:0% whatever like where does that go and who's<00:34:35.599> going<00:34:35.800> to<00:34:35.960> tell<00:34:36.159> us<00:34:36.320> where<00:34:36.440> to<00:34:36.599> point 00:34:36.869 --> 00:34:36.879 align:start position:0% who's going to tell us where to point 00:34:36.879 --> 00:34:38.710 align:start position:0% who's going to tell us where to point that<00:34:37.280> well<00:34:37.520> okay<00:34:37.639> so<00:34:38.040> question<00:34:38.240> is<00:34:38.399> how<00:34:38.480> do<00:34:38.599> we 00:34:38.710 --> 00:34:38.720 align:start position:0% that well okay so question is how do we 00:34:38.720 --> 00:34:41.589 align:start position:0% that well okay so question is how do we know<00:34:38.879> who's<00:34:39.119> going<00:34:39.200> to<00:34:39.560> you<00:34:39.639> know<00:34:39.879> how<00:34:40.440> how<00:34:40.800> who 00:34:41.589 --> 00:34:41.599 align:start position:0% know who's going to you know how how who 00:34:41.599 --> 00:34:43.510 align:start position:0% know who's going to you know how how who who<00:34:41.720> gets<00:34:41.919> the<00:34:42.159> direct<00:34:42.520> where<00:34:42.720> the<00:34:42.839> 1%<00:34:43.359> is 00:34:43.510 --> 00:34:43.520 align:start position:0% who gets the direct where the 1% is 00:34:43.520 --> 00:34:46.829 align:start position:0% who gets the direct where the 1% is gathered<00:34:44.240> and<00:34:44.399> what<00:34:44.520> it's<00:34:44.720> done<00:34:44.960> with<00:34:45.240> it<00:34:46.240> so<00:34:46.760> I 00:34:46.829 --> 00:34:46.839 align:start position:0% gathered and what it's done with it so I 00:34:46.839 --> 00:34:48.710 align:start position:0% gathered and what it's done with it so I mean<00:34:47.040> we<00:34:47.159> have<00:34:47.359> a<00:34:47.560> a<00:34:47.679> very<00:34:47.879> fortunate<00:34:48.480> thing 00:34:48.710 --> 00:34:48.720 align:start position:0% mean we have a a very fortunate thing 00:34:48.720 --> 00:34:50.270 align:start position:0% mean we have a a very fortunate thing which<00:34:48.839> is<00:34:48.960> that<00:34:49.079> vitalic<00:34:49.560> acts<00:34:49.800> as<00:34:49.919> a<00:34:50.040> center 00:34:50.270 --> 00:34:50.280 align:start position:0% which is that vitalic acts as a center 00:34:50.280 --> 00:34:52.149 align:start position:0% which is that vitalic acts as a center of<00:34:50.480> political<00:34:50.919> legitimacy<00:34:51.480> for<00:34:51.679> the<00:34:51.800> entire 00:34:52.149 --> 00:34:52.159 align:start position:0% of political legitimacy for the entire 00:34:52.159 --> 00:34:56.230 align:start position:0% of political legitimacy for the entire show<00:34:53.040> so 00:34:56.230 --> 00:34:56.240 align:start position:0% 00:34:56.240 --> 00:35:00.630 align:start position:0% right<00:34:57.240> she's 00:35:00.630 --> 00:35:00.640 align:start position:0% 00:35:00.640 --> 00:35:03.230 align:start position:0% so<00:35:01.240> one<00:35:01.520> possibility<00:35:02.320> is<00:35:02.480> that<00:35:02.720> vitalic 00:35:03.230 --> 00:35:03.240 align:start position:0% so one possibility is that vitalic 00:35:03.240 --> 00:35:05.109 align:start position:0% so one possibility is that vitalic basically<00:35:03.680> gives<00:35:04.119> you<00:35:04.240> know<00:35:04.560> some<00:35:04.800> kind<00:35:04.960> of<00:35:05.040> a 00:35:05.109 --> 00:35:05.119 align:start position:0% basically gives you know some kind of a 00:35:05.119 --> 00:35:06.470 align:start position:0% basically gives you know some kind of a steer<00:35:05.400> in<00:35:05.520> that<00:35:05.720> direction<00:35:06.040> as<00:35:06.200> people<00:35:06.359> get 00:35:06.470 --> 00:35:06.480 align:start position:0% steer in that direction as people get 00:35:06.480 --> 00:35:08.030 align:start position:0% steer in that direction as people get their<00:35:06.599> acts<00:35:06.920> together<00:35:07.079> and<00:35:07.160> sort<00:35:07.400> it<00:35:07.520> out<00:35:07.920> on 00:35:08.030 --> 00:35:08.040 align:start position:0% their acts together and sort it out on 00:35:08.040 --> 00:35:09.430 align:start position:0% their acts together and sort it out on the<00:35:08.119> other<00:35:08.240> hand<00:35:08.400> falic<00:35:08.800> generally<00:35:09.119> hates 00:35:09.430 --> 00:35:09.440 align:start position:0% the other hand falic generally hates 00:35:09.440 --> 00:35:11.470 align:start position:0% the other hand falic generally hates politics<00:35:10.320> so<00:35:10.480> maybe<00:35:10.720> somebody<00:35:11.000> needs<00:35:11.200> to<00:35:11.320> come 00:35:11.470 --> 00:35:11.480 align:start position:0% politics so maybe somebody needs to come 00:35:11.480 --> 00:35:13.030 align:start position:0% politics so maybe somebody needs to come up<00:35:11.599> with<00:35:11.680> a<00:35:11.800> solid<00:35:12.160> proposal<00:35:12.520> and<00:35:12.640> then<00:35:12.760> he<00:35:12.880> can 00:35:13.030 --> 00:35:13.040 align:start position:0% up with a solid proposal and then he can 00:35:13.040 --> 00:35:15.310 align:start position:0% up with a solid proposal and then he can basically<00:35:13.359> choose<00:35:13.760> not<00:35:13.920> to<00:35:14.079> turn<00:35:14.280> it<00:35:14.480> down 00:35:15.310 --> 00:35:15.320 align:start position:0% basically choose not to turn it down 00:35:15.320 --> 00:35:18.069 align:start position:0% basically choose not to turn it down right<00:35:16.000> but<00:35:16.640> this<00:35:16.839> is<00:35:17.040> the<00:35:17.160> core<00:35:17.560> question 00:35:18.069 --> 00:35:18.079 align:start position:0% right but this is the core question 00:35:18.079 --> 00:35:19.510 align:start position:0% right but this is the core question right<00:35:18.280> are<00:35:18.400> we<00:35:18.520> a<00:35:18.680> democracy<00:35:19.200> are<00:35:19.320> we<00:35:19.440> a 00:35:19.510 --> 00:35:19.520 align:start position:0% right are we a democracy are we a 00:35:19.520 --> 00:35:22.589 align:start position:0% right are we a democracy are we a monarchy<00:35:19.960> are<00:35:20.079> we<00:35:20.280> ruled<00:35:20.599> by<00:35:20.720> a 00:35:22.589 --> 00:35:22.599 align:start position:0% monarchy are we ruled by a 00:35:22.599 --> 00:35:26.190 align:start position:0% monarchy are we ruled by a theocrat<00:35:23.599> f<00:35:23.839> First<00:35:24.079> Church<00:35:24.320> of<00:35:24.520> calic<00:35:25.200> veran 00:35:26.190 --> 00:35:26.200 align:start position:0% theocrat f First Church of calic veran 00:35:26.200 --> 00:35:29.069 align:start position:0% theocrat f First Church of calic veran uh<00:35:27.079> so<00:35:27.400> that's<00:35:27.760> a<00:35:27.880> question<00:35:28.119> of<00:35:28.320> fundamental 00:35:29.069 --> 00:35:29.079 align:start position:0% uh so that's a question of fundamental 00:35:29.079 --> 00:35:31.630 align:start position:0% uh so that's a question of fundamental you<00:35:29.160> know<00:35:29.760> politics<00:35:30.760> and<00:35:31.040> I<00:35:31.160> think<00:35:31.320> that's<00:35:31.480> a 00:35:31.630 --> 00:35:31.640 align:start position:0% you know politics and I think that's a 00:35:31.640 --> 00:35:32.950 align:start position:0% you know politics and I think that's a question<00:35:31.839> for<00:35:31.960> us<00:35:32.079> to<00:35:32.200> have<00:35:32.320> a<00:35:32.400> bit<00:35:32.520> of<00:35:32.599> a<00:35:32.720> think 00:35:32.950 --> 00:35:32.960 align:start position:0% question for us to have a bit of a think 00:35:32.960 --> 00:35:35.030 align:start position:0% question for us to have a bit of a think about<00:35:33.400> how<00:35:33.520> do<00:35:33.640> we<00:35:33.760> want<00:35:33.880> to<00:35:34.000> do<00:35:34.160> these<00:35:34.320> things 00:35:35.030 --> 00:35:35.040 align:start position:0% about how do we want to do these things 00:35:35.040 --> 00:35:38.109 align:start position:0% about how do we want to do these things right<00:35:36.040> now<00:35:36.359> special<00:35:36.680> guest<00:35:37.079> come<00:35:37.200> on<00:35:37.359> in<00:35:37.960> how 00:35:38.109 --> 00:35:38.119 align:start position:0% right now special guest come on in how 00:35:38.119 --> 00:35:42.790 align:start position:0% right now special guest come on in how are 00:35:42.790 --> 00:35:42.800 align:start position:0% 00:35:42.800 --> 00:35:45.710 align:start position:0% you<00:35:43.800> how<00:35:43.880> are<00:35:44.000> you<00:35:44.119> doing<00:35:44.960> too 00:35:45.710 --> 00:35:45.720 align:start position:0% you how are you doing too 00:35:45.720 --> 00:35:49.190 align:start position:0% you how are you doing too bad<00:35:46.960> fabulous<00:35:47.960> hi 00:35:49.190 --> 00:35:49.200 align:start position:0% bad fabulous hi 00:35:49.200 --> 00:35:52.430 align:start position:0% bad fabulous hi hi<00:35:50.200> so<00:35:50.720> do<00:35:51.040> do<00:35:51.200> we<00:35:51.359> how<00:35:51.440> do<00:35:51.599> we<00:35:51.720> want<00:35:51.839> to<00:35:51.960> do<00:35:52.119> this 00:35:52.430 --> 00:35:52.440 align:start position:0% hi so do do we how do we want to do this 00:35:52.440 --> 00:35:53.670 align:start position:0% hi so do do we how do we want to do this do<00:35:52.520> you<00:35:52.599> want<00:35:52.720> to<00:35:52.800> talk<00:35:52.920> to<00:35:53.040> the<00:35:53.400> sles<00:35:53.599> or 00:35:53.670 --> 00:35:53.680 align:start position:0% do you want to talk to the sles or 00:35:53.680 --> 00:35:54.990 align:start position:0% do you want to talk to the sles or should<00:35:53.800> we<00:35:53.880> do<00:35:54.160> Q&A<00:35:54.480> or<00:35:54.560> do<00:35:54.640> you<00:35:54.720> want<00:35:54.800> to<00:35:54.880> talk 00:35:54.990 --> 00:35:55.000 align:start position:0% should we do Q&A or do you want to talk 00:35:55.000 --> 00:35:56.630 align:start position:0% should we do Q&A or do you want to talk to<00:35:55.079> the<00:35:55.160> people<00:35:55.400> what<00:35:55.480> would<00:35:55.560> you<00:35:55.640> like<00:35:55.760> to<00:35:55.880> do 00:35:56.630 --> 00:35:56.640 align:start position:0% to the people what would you like to do 00:35:56.640 --> 00:35:58.710 align:start position:0% to the people what would you like to do I<00:35:56.760> don't<00:35:57.040> know<00:35:57.440> I<00:35:57.720> literally<00:35:58.000> just<00:35:58.119> walked<00:35:58.400> in 00:35:58.710 --> 00:35:58.720 align:start position:0% I don't know I literally just walked in 00:35:58.720 --> 00:36:01.430 align:start position:0% I don't know I literally just walked in from<00:35:59.079> another<00:35:59.760> uh<00:35:59.960> event<00:36:00.760> so<00:36:00.920> I<00:36:01.000> have<00:36:01.079> no<00:36:01.200> idea 00:36:01.430 --> 00:36:01.440 align:start position:0% from another uh event so I have no idea 00:36:01.440 --> 00:36:04.349 align:start position:0% from another uh event so I have no idea what<00:36:01.599> just<00:36:01.800> was<00:36:01.920> said<00:36:02.160> I<00:36:02.280> hope<00:36:02.400> it<00:36:02.520> was<00:36:02.760> good<00:36:03.720> um 00:36:04.349 --> 00:36:04.359 align:start position:0% what just was said I hope it was good um 00:36:04.359 --> 00:36:05.750 align:start position:0% what just was said I hope it was good um we<00:36:04.520> just<00:36:04.640> finished<00:36:04.920> up<00:36:05.079> so<00:36:05.200> you're<00:36:05.319> telling<00:36:05.640> is 00:36:05.750 --> 00:36:05.760 align:start position:0% we just finished up so you're telling is 00:36:05.760 --> 00:36:08.309 align:start position:0% we just finished up so you're telling is perect<00:36:06.079> okay<00:36:06.240> cool<00:36:06.400> cool<00:36:07.000> um<00:36:07.160> so<00:36:07.400> yeah<00:36:07.599> v<00:36:08.160> um 00:36:08.309 --> 00:36:08.319 align:start position:0% perect okay cool cool um so yeah v um 00:36:08.319 --> 00:36:10.190 align:start position:0% perect okay cool cool um so yeah v um I've<00:36:08.480> met<00:36:08.960> actually<00:36:09.119> I've<00:36:09.240> known<00:36:09.440> V<00:36:09.720> for<00:36:10.000> for<00:36:10.119> a 00:36:10.190 --> 00:36:10.200 align:start position:0% I've met actually I've known V for for a 00:36:10.200 --> 00:36:12.589 align:start position:0% I've met actually I've known V for for a few<00:36:10.400> years<00:36:10.599> actually<00:36:11.040> few<00:36:11.160> years<00:36:11.920> a<00:36:12.079> Twitter 00:36:12.589 --> 00:36:12.599 align:start position:0% few years actually few years a Twitter 00:36:12.599 --> 00:36:14.430 align:start position:0% few years actually few years a Twitter what's<00:36:12.720> that<00:36:13.000> every<00:36:13.280> days<00:36:13.400> a<00:36:13.560> Twitter<00:36:14.200> every 00:36:14.430 --> 00:36:14.440 align:start position:0% what's that every days a Twitter every 00:36:14.440 --> 00:36:15.990 align:start position:0% what's that every days a Twitter every days<00:36:14.599> of<00:36:14.720> Twitter<00:36:15.000> early<00:36:15.240> days<00:36:15.720> the<00:36:15.800> early 00:36:15.990 --> 00:36:16.000 align:start position:0% days of Twitter early days the early 00:36:16.000 --> 00:36:18.109 align:start position:0% days of Twitter early days the early Twitter<00:36:16.240> parties<00:36:16.560> we<00:36:17.240> that's<00:36:17.400> true<00:36:17.960> that's 00:36:18.109 --> 00:36:18.119 align:start position:0% Twitter parties we that's true that's 00:36:18.119 --> 00:36:20.510 align:start position:0% Twitter parties we that's true that's true<00:36:18.520> I<00:36:18.640> forgot<00:36:18.920> about<00:36:19.920> um<00:36:20.200> yeah<00:36:20.319> and<00:36:20.400> it's 00:36:20.510 --> 00:36:20.520 align:start position:0% true I forgot about um yeah and it's 00:36:20.520 --> 00:36:21.910 align:start position:0% true I forgot about um yeah and it's only<00:36:20.760> just<00:36:20.880> in<00:36:21.000> the<00:36:21.160> last<00:36:21.319> few<00:36:21.480> months<00:36:21.760> that 00:36:21.910 --> 00:36:21.920 align:start position:0% only just in the last few months that 00:36:21.920 --> 00:36:23.910 align:start position:0% only just in the last few months that I've<00:36:22.359> been<00:36:22.680> back<00:36:22.839> in<00:36:23.000> touch<00:36:23.200> with<00:36:23.359> VIN<00:36:23.720> on<00:36:23.800> a 00:36:23.910 --> 00:36:23.920 align:start position:0% I've been back in touch with VIN on a 00:36:23.920 --> 00:36:27.630 align:start position:0% I've been back in touch with VIN on a more<00:36:24.160> daily<00:36:24.599> basis<00:36:25.599> um<00:36:26.000> because<00:36:26.480> of<00:36:26.880> this<00:36:27.240> uh 00:36:27.630 --> 00:36:27.640 align:start position:0% more daily basis um because of this uh 00:36:27.640 --> 00:36:29.870 align:start position:0% more daily basis um because of this uh this<00:36:27.800> sharing<00:36:28.200> this<00:36:28.440> idea<00:36:28.920> called 00:36:29.870 --> 00:36:29.880 align:start position:0% this sharing this idea called 00:36:29.880 --> 00:36:33.390 align:start position:0% this sharing this idea called myia<00:36:30.880> um<00:36:31.359> it<00:36:31.520> was<00:36:32.520> inspired<00:36:32.960> by<00:36:33.119> lots<00:36:33.280> of 00:36:33.390 --> 00:36:33.400 align:start position:0% myia um it was inspired by lots of 00:36:33.400 --> 00:36:35.190 align:start position:0% myia um it was inspired by lots of different<00:36:33.680> people<00:36:34.079> over<00:36:34.280> the<00:36:34.440> years<00:36:34.880> you<00:36:35.000> know 00:36:35.190 --> 00:36:35.200 align:start position:0% different people over the years you know 00:36:35.200 --> 00:36:37.069 align:start position:0% different people over the years you know having<00:36:35.560> conversations<00:36:36.160> about<00:36:36.720> wouldn't<00:36:36.960> it 00:36:37.069 --> 00:36:37.079 align:start position:0% having conversations about wouldn't it 00:36:37.079 --> 00:36:38.790 align:start position:0% having conversations about wouldn't it be<00:36:37.240> nice<00:36:37.480> if<00:36:37.599> the<00:36:37.720> music<00:36:38.000> industry<00:36:38.359> was<00:36:38.599> like 00:36:38.790 --> 00:36:38.800 align:start position:0% be nice if the music industry was like 00:36:38.800 --> 00:36:41.750 align:start position:0% be nice if the music industry was like this<00:36:39.000> or<00:36:39.200> like<00:36:39.440> this<00:36:40.319> um<00:36:40.640> and<00:36:40.880> then<00:36:41.319> kind<00:36:41.440> of<00:36:41.640> in 00:36:41.750 --> 00:36:41.760 align:start position:0% this or like this um and then kind of in 00:36:41.760 --> 00:36:43.630 align:start position:0% this or like this um and then kind of in the<00:36:41.920> last<00:36:42.119> few<00:36:42.280> months<00:36:42.800> becoming<00:36:43.200> aware 00:36:43.630 --> 00:36:43.640 align:start position:0% the last few months becoming aware 00:36:43.640 --> 00:36:45.109 align:start position:0% the last few months becoming aware really<00:36:43.839> or<00:36:44.040> the<00:36:44.160> last<00:36:44.359> half<00:36:44.520> a<00:36:44.640> year<00:36:44.800> becoming 00:36:45.109 --> 00:36:45.119 align:start position:0% really or the last half a year becoming 00:36:45.119 --> 00:36:48.309 align:start position:0% really or the last half a year becoming aware<00:36:45.359> of<00:36:45.800> blockchain<00:36:46.640> Technology<00:36:47.640> um<00:36:48.040> and 00:36:48.309 --> 00:36:48.319 align:start position:0% aware of blockchain Technology um and 00:36:48.319 --> 00:36:50.309 align:start position:0% aware of blockchain Technology um and really<00:36:48.680> when<00:36:48.839> I<00:36:49.000> realized<00:36:49.520> that<00:36:49.839> the<00:36:50.160> the 00:36:50.309 --> 00:36:50.319 align:start position:0% really when I realized that the the 00:36:50.319 --> 00:36:54.069 align:start position:0% really when I realized that the the technology<00:36:50.800> was<00:36:51.000> here<00:36:51.720> to<00:36:52.119> enable<00:36:53.119> um<00:36:53.680> music 00:36:54.069 --> 00:36:54.079 align:start position:0% technology was here to enable um music 00:36:54.079 --> 00:36:57.589 align:start position:0% technology was here to enable um music to<00:36:54.240> be<00:36:54.520> played<00:36:55.359> and<00:36:55.599> kind<00:36:55.760> of<00:36:56.240> uh<00:36:56.440> verified<00:36:57.359> and 00:36:57.589 --> 00:36:57.599 align:start position:0% to be played and kind of uh verified and 00:36:57.599 --> 00:37:00.670 align:start position:0% to be played and kind of uh verified and and<00:36:57.839> that<00:36:58.119> the<00:36:58.520> the<00:36:58.839> that<00:36:59.040> moment<00:36:59.400> of<00:36:59.640> play<00:37:00.359> can 00:37:00.670 --> 00:37:00.680 align:start position:0% and that the the that moment of play can 00:37:00.680 --> 00:37:02.829 align:start position:0% and that the the that moment of play can come<00:37:01.000> directly<00:37:01.520> into<00:37:01.920> a<00:37:02.040> digital<00:37:02.359> wallet<00:37:02.680> of 00:37:02.829 --> 00:37:02.839 align:start position:0% come directly into a digital wallet of 00:37:02.839 --> 00:37:05.109 align:start position:0% come directly into a digital wallet of an<00:37:03.000> artist<00:37:03.760> was<00:37:04.000> kind<00:37:04.119> of<00:37:04.280> mindblowing<00:37:04.839> for<00:37:05.000> me 00:37:05.109 --> 00:37:05.119 align:start position:0% an artist was kind of mindblowing for me 00:37:05.119 --> 00:37:06.270 align:start position:0% an artist was kind of mindblowing for me I<00:37:05.160> was<00:37:05.280> like<00:37:05.480> wow<00:37:05.680> I<00:37:05.760> don't<00:37:05.920> have<00:37:06.000> to<00:37:06.079> worry 00:37:06.270 --> 00:37:06.280 align:start position:0% I was like wow I don't have to worry 00:37:06.280 --> 00:37:07.349 align:start position:0% I was like wow I don't have to worry about<00:37:06.440> Banks<00:37:06.760> don't<00:37:06.920> have<00:37:07.000> to<00:37:07.079> worry<00:37:07.240> about 00:37:07.349 --> 00:37:07.359 align:start position:0% about Banks don't have to worry about 00:37:07.359 --> 00:37:08.670 align:start position:0% about Banks don't have to worry about record<00:37:07.640> labels<00:37:07.960> don't<00:37:08.200> have<00:37:08.359> about 00:37:08.670 --> 00:37:08.680 align:start position:0% record labels don't have about 00:37:08.680 --> 00:37:11.349 align:start position:0% record labels don't have about Publishers<00:37:09.680> um<00:37:09.920> you<00:37:10.040> know<00:37:10.200> that<00:37:10.359> all<00:37:10.480> of<00:37:10.680> these 00:37:11.349 --> 00:37:11.359 align:start position:0% Publishers um you know that all of these 00:37:11.359 --> 00:37:12.550 align:start position:0% Publishers um you know that all of these problems<00:37:11.680> that<00:37:11.800> we<00:37:11.920> have<00:37:12.079> in<00:37:12.160> the<00:37:12.280> music 00:37:12.550 --> 00:37:12.560 align:start position:0% problems that we have in the music 00:37:12.560 --> 00:37:16.349 align:start position:0% problems that we have in the music industry<00:37:13.160> of<00:37:13.720> um<00:37:14.640> who<00:37:14.839> owns<00:37:15.319> what<00:37:15.880> who<00:37:16.040> owns 00:37:16.349 --> 00:37:16.359 align:start position:0% industry of um who owns what who owns 00:37:16.359 --> 00:37:18.990 align:start position:0% industry of um who owns what who owns the<00:37:16.520> copyright<00:37:17.200> the<00:37:17.480> licensing<00:37:18.480> who<00:37:18.680> was<00:37:18.839> the 00:37:18.990 --> 00:37:19.000 align:start position:0% the copyright the licensing who was the 00:37:19.000 --> 00:37:20.950 align:start position:0% the copyright the licensing who was the writer<00:37:19.319> of<00:37:19.480> that<00:37:19.640> song<00:37:20.079> all<00:37:20.200> of<00:37:20.359> that<00:37:20.520> stuff<00:37:20.800> is 00:37:20.950 --> 00:37:20.960 align:start position:0% writer of that song all of that stuff is 00:37:20.960 --> 00:37:22.230 align:start position:0% writer of that song all of that stuff is like<00:37:21.119> one<00:37:21.240> of<00:37:21.359> the<00:37:21.480> biggest<00:37:21.800> problems<00:37:22.040> in<00:37:22.160> the 00:37:22.230 --> 00:37:22.240 align:start position:0% like one of the biggest problems in the 00:37:22.240 --> 00:37:24.109 align:start position:0% like one of the biggest problems in the music<00:37:22.480> industry<00:37:22.880> because<00:37:23.000> it's<00:37:23.200> so<00:37:23.839> so 00:37:24.109 --> 00:37:24.119 align:start position:0% music industry because it's so so 00:37:24.119 --> 00:37:26.670 align:start position:0% music industry because it's so so complex<00:37:24.560> over<00:37:24.760> so<00:37:24.920> many<00:37:25.200> years<00:37:25.480> of<00:37:26.119> you<00:37:26.240> know 00:37:26.670 --> 00:37:26.680 align:start position:0% complex over so many years of you know 00:37:26.680 --> 00:37:28.069 align:start position:0% complex over so many years of you know old<00:37:27.000> technology 00:37:28.069 --> 00:37:28.079 align:start position:0% old technology 00:37:28.079 --> 00:37:29.589 align:start position:0% old technology well<00:37:28.240> new<00:37:28.400> technology<00:37:28.760> built<00:37:29.000> on<00:37:29.119> top<00:37:29.240> of<00:37:29.400> old 00:37:29.589 --> 00:37:29.599 align:start position:0% well new technology built on top of old 00:37:29.599 --> 00:37:31.349 align:start position:0% well new technology built on top of old technology<00:37:30.079> and<00:37:30.240> again<00:37:30.400> and<00:37:30.560> again<00:37:30.760> and<00:37:30.960> again 00:37:31.349 --> 00:37:31.359 align:start position:0% technology and again and again and again 00:37:31.359 --> 00:37:32.710 align:start position:0% technology and again and again and again so<00:37:31.520> we're<00:37:31.640> kind<00:37:31.760> of<00:37:31.880> left<00:37:32.119> with<00:37:32.240> this<00:37:32.440> really 00:37:32.710 --> 00:37:32.720 align:start position:0% so we're kind of left with this really 00:37:32.720 --> 00:37:35.270 align:start position:0% so we're kind of left with this really messy<00:37:33.720> um<00:37:33.920> business<00:37:34.440> and<00:37:34.560> when<00:37:34.680> I<00:37:34.800> re<00:37:34.960> see<00:37:35.160> a 00:37:35.270 --> 00:37:35.280 align:start position:0% messy um business and when I re see a 00:37:35.280 --> 00:37:37.470 align:start position:0% messy um business and when I re see a statement<00:37:35.760> for<00:37:35.920> instance<00:37:36.280> of<00:37:36.800> you<00:37:36.920> know<00:37:37.119> some 00:37:37.470 --> 00:37:37.480 align:start position:0% statement for instance of you know some 00:37:37.480 --> 00:37:39.950 align:start position:0% statement for instance of you know some songs<00:37:37.839> that<00:37:38.000> I<00:37:38.119> may<00:37:38.280> have<00:37:38.800> written<00:37:39.560> a<00:37:39.760> while 00:37:39.950 --> 00:37:39.960 align:start position:0% songs that I may have written a while 00:37:39.960 --> 00:37:41.710 align:start position:0% songs that I may have written a while ago<00:37:40.480> that<00:37:40.599> may<00:37:40.760> have<00:37:40.839> been<00:37:40.960> on<00:37:41.079> the<00:37:41.200> radio<00:37:41.520> Once 00:37:41.710 --> 00:37:41.720 align:start position:0% ago that may have been on the radio Once 00:37:41.720 --> 00:37:45.150 align:start position:0% ago that may have been on the radio Once Upon<00:37:41.920> a<00:37:42.040> Time<00:37:42.680> um<00:37:42.960> I<00:37:43.079> get<00:37:43.319> that<00:37:43.720> many<00:37:44.000> many<00:37:44.920> like 00:37:45.150 --> 00:37:45.160 align:start position:0% Upon a Time um I get that many many like 00:37:45.160 --> 00:37:47.069 align:start position:0% Upon a Time um I get that many many like months<00:37:45.440> and<00:37:45.640> months<00:37:45.920> later<00:37:46.480> and<00:37:46.640> often<00:37:46.960> have 00:37:47.069 --> 00:37:47.079 align:start position:0% months and months later and often have 00:37:47.079 --> 00:37:49.990 align:start position:0% months and months later and often have to<00:37:47.200> get<00:37:47.359> bank<00:37:47.599> loans<00:37:48.240> to<00:37:48.440> kind<00:37:48.560> of<00:37:48.800> you<00:37:48.920> know<00:37:49.560> um 00:37:49.990 --> 00:37:50.000 align:start position:0% to get bank loans to kind of you know um 00:37:50.000 --> 00:37:52.230 align:start position:0% to get bank loans to kind of you know um put<00:37:50.480> take<00:37:50.720> take<00:37:50.880> me<00:37:51.040> through<00:37:51.560> uh<00:37:51.720> the<00:37:51.800> year 00:37:52.230 --> 00:37:52.240 align:start position:0% put take take me through uh the year 00:37:52.240 --> 00:37:52.990 align:start position:0% put take take me through uh the year sometimes<00:37:52.440> when<00:37:52.640> actually<00:37:52.800> it<00:37:52.839> would<00:37:52.920> have 00:37:52.990 --> 00:37:53.000 align:start position:0% sometimes when actually it would have 00:37:53.000 --> 00:37:53.950 align:start position:0% sometimes when actually it would have been<00:37:53.119> very<00:37:53.280> nice<00:37:53.440> to<00:37:53.520> get<00:37:53.640> that<00:37:53.760> money 00:37:53.950 --> 00:37:53.960 align:start position:0% been very nice to get that money 00:37:53.960 --> 00:37:57.109 align:start position:0% been very nice to get that money instantly<00:37:54.960> um<00:37:55.599> so<00:37:55.960> I<00:37:56.319> also<00:37:56.560> thinking<00:37:56.839> that<00:37:57.000> you 00:37:57.109 --> 00:37:57.119 align:start position:0% instantly um so I also thinking that you 00:37:57.119 --> 00:37:59.190 align:start position:0% instantly um so I also thinking that you know<00:37:57.720> uh<00:37:58.200> obviously<00:37:58.520> we<00:37:58.640> know<00:37:58.839> there's<00:37:59.040> lots 00:37:59.190 --> 00:37:59.200 align:start position:0% know uh obviously we know there's lots 00:37:59.200 --> 00:38:02.309 align:start position:0% know uh obviously we know there's lots and<00:37:59.319> lots<00:37:59.480> of<00:37:59.640> music<00:38:00.359> um<00:38:00.839> being<00:38:01.160> made<00:38:01.960> uh<00:38:02.079> many 00:38:02.309 --> 00:38:02.319 align:start position:0% and lots of music um being made uh many 00:38:02.319 --> 00:38:04.870 align:start position:0% and lots of music um being made uh many millions<00:38:02.680> of<00:38:02.800> tracks<00:38:03.240> in<00:38:03.359> the<00:38:03.520> world<00:38:04.359> um<00:38:04.520> 30 00:38:04.870 --> 00:38:04.880 align:start position:0% millions of tracks in the world um 30 00:38:04.880 --> 00:38:07.230 align:start position:0% millions of tracks in the world um 30 million<00:38:05.240> apparently<00:38:05.720> online<00:38:06.640> um<00:38:06.800> even<00:38:07.119> just 00:38:07.230 --> 00:38:07.240 align:start position:0% million apparently online um even just 00:38:07.240 --> 00:38:09.510 align:start position:0% million apparently online um even just on<00:38:07.440> Spotify<00:38:07.880> or<00:38:08.000> iTunes<00:38:08.880> um<00:38:09.040> but<00:38:09.200> we<00:38:09.319> have<00:38:09.400> to 00:38:09.510 --> 00:38:09.520 align:start position:0% on Spotify or iTunes um but we have to 00:38:09.520 --> 00:38:11.829 align:start position:0% on Spotify or iTunes um but we have to think<00:38:09.680> about<00:38:09.880> the<00:38:10.079> next<00:38:10.560> 70<00:38:11.000> million<00:38:11.599> um<00:38:11.760> that 00:38:11.829 --> 00:38:11.839 align:start position:0% think about the next 70 million um that 00:38:11.839 --> 00:38:13.589 align:start position:0% think about the next 70 million um that are<00:38:11.960> going<00:38:12.040> to<00:38:12.160> come<00:38:12.359> just<00:38:12.520> in<00:38:12.640> the<00:38:12.800> next<00:38:13.240> 10 00:38:13.589 --> 00:38:13.599 align:start position:0% are going to come just in the next 10 00:38:13.599 --> 00:38:17.470 align:start position:0% are going to come just in the next 10 years<00:38:14.280> um<00:38:14.560> hello<00:38:15.560> um<00:38:15.960> and<00:38:16.319> uh<00:38:16.680> that's<00:38:16.920> a<00:38:17.200> that's 00:38:17.470 --> 00:38:17.480 align:start position:0% years um hello um and uh that's a that's 00:38:17.480 --> 00:38:19.349 align:start position:0% years um hello um and uh that's a that's a<00:38:17.599> really<00:38:17.880> amazing<00:38:18.560> thing<00:38:18.720> to<00:38:18.880> think<00:38:19.079> about 00:38:19.349 --> 00:38:19.359 align:start position:0% a really amazing thing to think about 00:38:19.359 --> 00:38:21.150 align:start position:0% a really amazing thing to think about that<00:38:19.520> you<00:38:19.599> know<00:38:19.760> there<00:38:19.839> are<00:38:20.040> all<00:38:20.240> these<00:38:20.720> Legacy 00:38:21.150 --> 00:38:21.160 align:start position:0% that you know there are all these Legacy 00:38:21.160 --> 00:38:23.349 align:start position:0% that you know there are all these Legacy artists<00:38:21.640> and<00:38:21.839> tracks<00:38:22.280> that<00:38:22.680> the<00:38:22.920> industry<00:38:23.240> is 00:38:23.349 --> 00:38:23.359 align:start position:0% artists and tracks that the industry is 00:38:23.359 --> 00:38:24.670 align:start position:0% artists and tracks that the industry is built<00:38:23.599> on<00:38:23.760> currently<00:38:24.119> but<00:38:24.240> what<00:38:24.359> about<00:38:24.560> all 00:38:24.670 --> 00:38:24.680 align:start position:0% built on currently but what about all 00:38:24.680 --> 00:38:26.950 align:start position:0% built on currently but what about all the<00:38:24.880> amazing<00:38:25.240> KNE<00:38:25.560> music<00:38:26.119> of<00:38:26.280> the<00:38:26.359> future<00:38:26.800> how 00:38:26.950 --> 00:38:26.960 align:start position:0% the amazing KNE music of the future how 00:38:26.960 --> 00:38:29.150 align:start position:0% the amazing KNE music of the future how can<00:38:27.079> we<00:38:27.200> help<00:38:27.599> sustain<00:38:28.400> the<00:38:28.520> artist<00:38:28.839> of<00:38:28.960> the 00:38:29.150 --> 00:38:29.160 align:start position:0% can we help sustain the artist of the 00:38:29.160 --> 00:38:32.950 align:start position:0% can we help sustain the artist of the future<00:38:30.160> um<00:38:30.599> to<00:38:31.079> uh<00:38:31.280> to<00:38:31.480> not<00:38:31.760> have<00:38:31.880> to<00:38:32.680> have<00:38:32.839> the 00:38:32.950 --> 00:38:32.960 align:start position:0% future um to uh to not have to have the 00:38:32.960 --> 00:38:34.910 align:start position:0% future um to uh to not have to have the problems<00:38:33.240> that<00:38:33.359> we're<00:38:33.480> living<00:38:33.760> in<00:38:34.359> um<00:38:34.800> you 00:38:34.910 --> 00:38:34.920 align:start position:0% problems that we're living in um you 00:38:34.920 --> 00:38:36.470 align:start position:0% problems that we're living in um you know<00:38:35.040> as<00:38:35.160> a<00:38:35.280> new<00:38:35.560> artist<00:38:35.960> I<00:38:36.040> don't<00:38:36.160> know<00:38:36.400> I 00:38:36.470 --> 00:38:36.480 align:start position:0% know as a new artist I don't know I 00:38:36.480 --> 00:38:38.430 align:start position:0% know as a new artist I don't know I don't<00:38:36.599> know<00:38:36.880> how<00:38:37.160> they<00:38:37.280> do<00:38:37.480> it<00:38:38.040> it's<00:38:38.200> so 00:38:38.430 --> 00:38:38.440 align:start position:0% don't know how they do it it's so 00:38:38.440 --> 00:38:40.069 align:start position:0% don't know how they do it it's so complicated<00:38:38.960> even<00:38:39.200> just<00:38:39.560> as<00:38:39.640> a<00:38:39.800> kind<00:38:39.920> of 00:38:40.069 --> 00:38:40.079 align:start position:0% complicated even just as a kind of 00:38:40.079 --> 00:38:42.750 align:start position:0% complicated even just as a kind of middle<00:38:40.520> class<00:38:40.880> Artist<00:38:41.280> as<00:38:41.400> I<00:38:41.560> say<00:38:42.160> uh<00:38:42.280> as<00:38:42.440> Zoe 00:38:42.750 --> 00:38:42.760 align:start position:0% middle class Artist as I say uh as Zoe 00:38:42.760 --> 00:38:44.630 align:start position:0% middle class Artist as I say uh as Zoe kind<00:38:42.839> of<00:38:42.960> put<00:38:43.079> it<00:38:43.200> Zoe<00:38:43.480> keting<00:38:43.760> put<00:38:43.880> it<00:38:44.000> once 00:38:44.630 --> 00:38:44.640 align:start position:0% kind of put it Zoe keting put it once 00:38:44.640 --> 00:38:46.910 align:start position:0% kind of put it Zoe keting put it once the<00:38:44.880> the<00:38:45.000> artist<00:38:45.359> who's<00:38:45.560> not<00:38:45.680> like<00:38:45.880> the<00:38:46.000> top<00:38:46.160> 1% 00:38:46.910 --> 00:38:46.920 align:start position:0% the the artist who's not like the top 1% 00:38:46.920 --> 00:38:48.470 align:start position:0% the the artist who's not like the top 1% but<00:38:47.079> we're<00:38:47.240> not<00:38:47.560> um<00:38:47.760> starting<00:38:48.119> off<00:38:48.319> we're 00:38:48.470 --> 00:38:48.480 align:start position:0% but we're not um starting off we're 00:38:48.480 --> 00:38:50.230 align:start position:0% but we're not um starting off we're somewhere<00:38:48.720> in<00:38:48.800> the<00:38:48.880> middle<00:38:49.599> um<00:38:49.720> it's<00:38:49.880> becoming 00:38:50.230 --> 00:38:50.240 align:start position:0% somewhere in the middle um it's becoming 00:38:50.240 --> 00:38:53.069 align:start position:0% somewhere in the middle um it's becoming increasingly<00:38:50.839> harder<00:38:51.280> to<00:38:51.800> to<00:38:52.000> make<00:38:52.480> um<00:38:52.960> to 00:38:53.069 --> 00:38:53.079 align:start position:0% increasingly harder to to make um to 00:38:53.079 --> 00:38:56.270 align:start position:0% increasingly harder to to make um to make<00:38:53.200> a<00:38:53.319> living<00:38:53.560> from<00:38:53.960> making<00:38:54.400> just<00:38:54.640> music<00:38:55.520> any 00:38:56.270 --> 00:38:56.280 align:start position:0% make a living from making just music any 00:38:56.280 --> 00:38:59.990 align:start position:0% make a living from making just music any if<00:38:56.400> you<00:38:56.560> like<00:38:57.839> yes<00:38:58.280> right<00:38:58.440> here<00:38:58.720> thank<00:38:58.920> you<00:38:59.720> um 00:38:59.990 --> 00:39:00.000 align:start position:0% if you like yes right here thank you um 00:39:00.000 --> 00:39:03.150 align:start position:0% if you like yes right here thank you um so<00:39:00.440> this<00:39:00.800> concept<00:39:01.200> by<00:39:01.359> Celia<00:39:02.319> yeah<00:39:02.560> it's<00:39:02.800> it's 00:39:03.150 --> 00:39:03.160 align:start position:0% so this concept by Celia yeah it's it's 00:39:03.160 --> 00:39:04.910 align:start position:0% so this concept by Celia yeah it's it's it's<00:39:03.359> not<00:39:03.560> very<00:39:03.800> new<00:39:04.040> I<00:39:04.160> suppose<00:39:04.440> to<00:39:04.599> many<00:39:04.800> of 00:39:04.910 --> 00:39:04.920 align:start position:0% it's not very new I suppose to many of 00:39:04.920 --> 00:39:07.550 align:start position:0% it's not very new I suppose to many of you<00:39:05.160> this<00:39:05.359> this<00:39:05.560> idea<00:39:06.240> so<00:39:06.760> um<00:39:07.040> here<00:39:07.200> we<00:39:07.319> are<00:39:07.440> at 00:39:07.550 --> 00:39:07.560 align:start position:0% you this this idea so um here we are at 00:39:07.560 --> 00:39:10.750 align:start position:0% you this this idea so um here we are at the<00:39:07.720> bottom<00:39:08.240> we've<00:39:08.440> got<00:39:09.160> um<00:39:09.400> we've<00:39:09.599> got<00:39:10.040> uh<00:39:10.560> my 00:39:10.750 --> 00:39:10.760 align:start position:0% the bottom we've got um we've got uh my 00:39:10.760 --> 00:39:13.630 align:start position:0% the bottom we've got um we've got uh my VJ<00:39:11.200> a<00:39:11.359> fan<00:39:11.680> Sarah<00:39:12.400> Michael<00:39:12.880> video<00:39:13.119> director 00:39:13.630 --> 00:39:13.640 align:start position:0% VJ a fan Sarah Michael video director 00:39:13.640 --> 00:39:15.710 align:start position:0% VJ a fan Sarah Michael video director Sennheiser<00:39:14.160> Audio<00:39:14.440> company<00:39:14.839> so<00:39:15.040> at<00:39:15.200> the<00:39:15.319> base 00:39:15.710 --> 00:39:15.720 align:start position:0% Sennheiser Audio company so at the base 00:39:15.720 --> 00:39:19.069 align:start position:0% Sennheiser Audio company so at the base layer<00:39:16.720> um<00:39:17.079> this<00:39:17.160> is<00:39:17.319> what<00:39:17.440> I<00:39:17.560> see<00:39:17.760> as<00:39:17.920> Melia<00:39:18.720> the 00:39:19.069 --> 00:39:19.079 align:start position:0% layer um this is what I see as Melia the 00:39:19.079 --> 00:39:20.829 align:start position:0% layer um this is what I see as Melia the the<00:39:19.240> artists<00:39:19.680> the<00:39:19.839> content<00:39:20.319> the<00:39:20.440> people<00:39:20.680> that 00:39:20.829 --> 00:39:20.839 align:start position:0% the artists the content the people that 00:39:20.839 --> 00:39:23.589 align:start position:0% the artists the content the people that drive<00:39:21.599> the<00:39:21.760> creative<00:39:22.400> content<00:39:22.800> of<00:39:22.960> the<00:39:23.200> music 00:39:23.589 --> 00:39:23.599 align:start position:0% drive the creative content of the music 00:39:23.599 --> 00:39:26.270 align:start position:0% drive the creative content of the music industry<00:39:24.599> um<00:39:24.839> underneath<00:39:25.839> you<00:39:25.960> know<00:39:26.119> the 00:39:26.270 --> 00:39:26.280 align:start position:0% industry um underneath you know the 00:39:26.280 --> 00:39:28.550 align:start position:0% industry um underneath you know the hidden<00:39:26.560> layer<00:39:27.480> um<00:39:27.880> that<00:39:28.079> actually<00:39:28.319> at<00:39:28.440> the 00:39:28.550 --> 00:39:28.560 align:start position:0% hidden layer um that actually at the 00:39:28.560 --> 00:39:30.069 align:start position:0% hidden layer um that actually at the moment<00:39:28.839> we're<00:39:29.040> kind<00:39:29.160> of<00:39:29.359> right<00:39:29.599> at<00:39:29.760> the<00:39:29.839> end<00:39:30.000> of 00:39:30.069 --> 00:39:30.079 align:start position:0% moment we're kind of right at the end of 00:39:30.079 --> 00:39:31.750 align:start position:0% moment we're kind of right at the end of the<00:39:30.200> food<00:39:30.480> chain<00:39:30.920> the<00:39:31.079> artists<00:39:31.520> and<00:39:31.640> the 00:39:31.750 --> 00:39:31.760 align:start position:0% the food chain the artists and the 00:39:31.760 --> 00:39:33.309 align:start position:0% the food chain the artists and the musicians<00:39:32.160> are<00:39:32.319> the<00:39:32.480> last<00:39:32.800> people<00:39:33.000> to<00:39:33.160> get 00:39:33.309 --> 00:39:33.319 align:start position:0% musicians are the last people to get 00:39:33.319 --> 00:39:35.069 align:start position:0% musicians are the last people to get paid<00:39:33.920> and<00:39:34.079> we<00:39:34.200> are<00:39:34.359> the<00:39:34.480> people<00:39:34.680> that<00:39:34.839> most 00:39:35.069 --> 00:39:35.079 align:start position:0% paid and we are the people that most 00:39:35.079 --> 00:39:37.109 align:start position:0% paid and we are the people that most need<00:39:35.359> the<00:39:35.440> money<00:39:36.160> um<00:39:36.400> because<00:39:36.680> we're<00:39:36.920> the 00:39:37.109 --> 00:39:37.119 align:start position:0% need the money um because we're the 00:39:37.119 --> 00:39:40.430 align:start position:0% need the money um because we're the we're<00:39:37.280> the<00:39:37.400> musicians<00:39:38.400> um<00:39:38.960> so<00:39:39.359> it's<00:39:39.640> imagining 00:39:40.430 --> 00:39:40.440 align:start position:0% we're the musicians um so it's imagining 00:39:40.440 --> 00:39:43.349 align:start position:0% we're the musicians um so it's imagining very<00:39:40.640> exciting<00:39:41.079> world<00:39:41.520> where<00:39:42.160> um<00:39:42.560> here<00:39:42.720> is<00:39:42.960> my 00:39:43.349 --> 00:39:43.359 align:start position:0% very exciting world where um here is my 00:39:43.359 --> 00:39:45.670 align:start position:0% very exciting world where um here is my song<00:39:43.760> Perhaps<00:39:44.640> um<00:39:44.800> so<00:39:44.960> I<00:39:45.079> call<00:39:45.319> this<00:39:45.560> this 00:39:45.670 --> 00:39:45.680 align:start position:0% song Perhaps um so I call this this 00:39:45.680 --> 00:39:48.990 align:start position:0% song Perhaps um so I call this this Melia<00:39:46.440> like<00:39:47.119> the<00:39:47.359> the<00:39:47.520> system<00:39:48.280> um<00:39:48.440> beneath<00:39:48.760> our 00:39:48.990 --> 00:39:49.000 align:start position:0% Melia like the the system um beneath our 00:39:49.000 --> 00:39:52.309 align:start position:0% Melia like the the system um beneath our feet<00:39:49.480> these<00:39:49.800> tens<00:39:50.079> of<00:39:50.280> kilometers<00:39:51.119> of<00:39:51.359> organic 00:39:52.309 --> 00:39:52.319 align:start position:0% feet these tens of kilometers of organic 00:39:52.319 --> 00:39:55.069 align:start position:0% feet these tens of kilometers of organic uh<00:39:52.640> ecosystem<00:39:53.319> systems<00:39:54.240> um<00:39:54.440> where<00:39:54.599> mushrooms 00:39:55.069 --> 00:39:55.079 align:start position:0% uh ecosystem systems um where mushrooms 00:39:55.079 --> 00:39:56.870 align:start position:0% uh ecosystem systems um where mushrooms pop<00:39:55.240> out<00:39:55.359> of<00:39:55.480> the<00:39:55.599> ground<00:39:56.520> um<00:39:56.680> and<00:39:56.760> it 00:39:56.870 --> 00:39:56.880 align:start position:0% pop out of the ground um and it 00:39:56.880 --> 00:39:58.990 align:start position:0% pop out of the ground um and it obviously<00:39:57.680> it<00:39:57.920> uh<00:39:58.040> it<00:39:58.160> works<00:39:58.480> across<00:39:58.760> great 00:39:58.990 --> 00:39:59.000 align:start position:0% obviously it uh it works across great 00:39:59.000 --> 00:40:01.069 align:start position:0% obviously it uh it works across great networks<00:39:59.760> um<00:39:59.960> so<00:40:00.160> that's<00:40:00.319> why<00:40:00.599> I<00:40:00.720> like<00:40:00.960> the 00:40:01.069 --> 00:40:01.079 align:start position:0% networks um so that's why I like the 00:40:01.079 --> 00:40:04.069 align:start position:0% networks um so that's why I like the idea<00:40:01.359> my<00:40:01.520> CIA<00:40:02.480> um<00:40:02.640> so<00:40:02.800> here<00:40:02.920> is<00:40:03.040> a<00:40:03.200> Spore<00:40:03.800> and<00:40:03.920> in 00:40:04.069 --> 00:40:04.079 align:start position:0% idea my CIA um so here is a Spore and in 00:40:04.079 --> 00:40:07.390 align:start position:0% idea my CIA um so here is a Spore and in this<00:40:04.240> Spore<00:40:05.079> um<00:40:05.839> is<00:40:06.200> uh<00:40:06.359> what<00:40:06.480> I<00:40:06.640> now<00:40:06.839> realize 00:40:07.390 --> 00:40:07.400 align:start position:0% this Spore um is uh what I now realize 00:40:07.400 --> 00:40:10.270 align:start position:0% this Spore um is uh what I now realize is<00:40:07.880> uh<00:40:08.359> is<00:40:08.760> what<00:40:08.960> is<00:40:09.079> a<00:40:09.240> smart<00:40:09.599> contract<00:40:10.040> but<00:40:10.160> at 00:40:10.270 --> 00:40:10.280 align:start position:0% is uh is what is a smart contract but at 00:40:10.280 --> 00:40:11.710 align:start position:0% is uh is what is a smart contract but at the<00:40:10.400> time<00:40:10.560> I<00:40:10.640> didn't<00:40:10.839> know<00:40:11.040> that<00:40:11.160> that<00:40:11.359> existed 00:40:11.710 --> 00:40:11.720 align:start position:0% the time I didn't know that that existed 00:40:11.720 --> 00:40:13.670 align:start position:0% the time I didn't know that that existed so<00:40:11.880> I<00:40:11.960> was<00:40:12.119> like<00:40:12.560> wouldn't<00:40:12.800> it<00:40:12.920> be<00:40:13.040> amazing<00:40:13.520> to 00:40:13.670 --> 00:40:13.680 align:start position:0% so I was like wouldn't it be amazing to 00:40:13.680 --> 00:40:16.270 align:start position:0% so I was like wouldn't it be amazing to be<00:40:13.760> able<00:40:13.960> to<00:40:14.480> put<00:40:14.680> up<00:40:14.839> your<00:40:15.040> music<00:40:15.839> and<00:40:15.960> then<00:40:16.119> in 00:40:16.270 --> 00:40:16.280 align:start position:0% be able to put up your music and then in 00:40:16.280 --> 00:40:18.190 align:start position:0% be able to put up your music and then in that<00:40:16.440> to<00:40:16.560> be<00:40:16.680> able<00:40:16.839> to<00:40:17.040> say<00:40:17.520> I<00:40:17.599> want<00:40:17.720> to<00:40:18.119> you 00:40:18.190 --> 00:40:18.200 align:start position:0% that to be able to say I want to you 00:40:18.200 --> 00:40:19.589 align:start position:0% that to be able to say I want to you know<00:40:18.400> pay<00:40:18.640> this<00:40:18.800> percent<00:40:19.040> to<00:40:19.200> this<00:40:19.359> person 00:40:19.589 --> 00:40:19.599 align:start position:0% know pay this percent to this person 00:40:19.599 --> 00:40:21.670 align:start position:0% know pay this percent to this person this<00:40:19.760> percent<00:40:19.960> to<00:40:20.160> this<00:40:20.319> person<00:40:21.000> and<00:40:21.160> also<00:40:21.520> in 00:40:21.670 --> 00:40:21.680 align:start position:0% this percent to this person and also in 00:40:21.680 --> 00:40:23.910 align:start position:0% this percent to this person and also in that<00:40:21.920> information<00:40:22.839> I<00:40:22.960> want<00:40:23.079> to<00:40:23.280> put<00:40:23.640> you<00:40:23.760> know 00:40:23.910 --> 00:40:23.920 align:start position:0% that information I want to put you know 00:40:23.920 --> 00:40:25.870 align:start position:0% that information I want to put you know what<00:40:24.040> was<00:40:24.200> my<00:40:24.480> inspiration<00:40:25.480> what<00:40:25.599> are<00:40:25.760> the 00:40:25.870 --> 00:40:25.880 align:start position:0% what was my inspiration what are the 00:40:25.880 --> 00:40:28.230 align:start position:0% what was my inspiration what are the lyrics<00:40:26.400> what's<00:40:26.640> the<00:40:26.800> music<00:40:27.760> um<00:40:27.880> what's<00:40:28.079> the 00:40:28.230 --> 00:40:28.240 align:start position:0% lyrics what's the music um what's the 00:40:28.240 --> 00:40:30.069 align:start position:0% lyrics what's the music um what's the music<00:40:28.560> video<00:40:29.200> all<00:40:29.400> the<00:40:29.560> people<00:40:29.760> that<00:40:29.880> were 00:40:30.069 --> 00:40:30.079 align:start position:0% music video all the people that were 00:40:30.079 --> 00:40:31.990 align:start position:0% music video all the people that were involved<00:40:30.920> because<00:40:31.359> our<00:40:31.520> listening 00:40:31.990 --> 00:40:32.000 align:start position:0% involved because our listening 00:40:32.000 --> 00:40:33.870 align:start position:0% involved because our listening experience<00:40:32.480> well<00:40:32.599> our<00:40:32.839> experience<00:40:33.240> of<00:40:33.440> Music 00:40:33.870 --> 00:40:33.880 align:start position:0% experience well our experience of Music 00:40:33.880 --> 00:40:37.270 align:start position:0% experience well our experience of Music in<00:40:34.240> the<00:40:34.440> days<00:40:35.000> now<00:40:35.839> is<00:40:36.160> like<00:40:36.359> reduced<00:40:36.839> to<00:40:37.119> an 00:40:37.270 --> 00:40:37.280 align:start position:0% in the days now is like reduced to an 00:40:37.280 --> 00:40:41.630 align:start position:0% in the days now is like reduced to an MP3<00:40:38.280> squashed<00:40:39.000> m<00:40:39.280> music<00:40:39.560> file<00:40:40.400> um<00:40:40.640> with<00:40:40.839> no 00:40:41.630 --> 00:40:41.640 align:start position:0% MP3 squashed m music file um with no 00:40:41.640 --> 00:40:44.550 align:start position:0% MP3 squashed m music file um with no like<00:40:42.200> idea<00:40:42.640> of<00:40:43.000> the<00:40:43.280> artwork<00:40:43.880> or<00:40:44.119> anyone<00:40:44.400> who 00:40:44.550 --> 00:40:44.560 align:start position:0% like idea of the artwork or anyone who 00:40:44.560 --> 00:40:46.390 align:start position:0% like idea of the artwork or anyone who was<00:40:44.680> involved<00:40:45.040> in<00:40:45.200> musicians<00:40:45.960> there's<00:40:46.119> no<00:40:46.280> way 00:40:46.390 --> 00:40:46.400 align:start position:0% was involved in musicians there's no way 00:40:46.400 --> 00:40:48.069 align:start position:0% was involved in musicians there's no way to<00:40:46.520> look<00:40:46.680> through<00:40:46.920> that<00:40:47.079> information<00:40:47.720> it<00:40:47.839> is 00:40:48.069 --> 00:40:48.079 align:start position:0% to look through that information it is 00:40:48.079 --> 00:40:49.349 align:start position:0% to look through that information it is there<00:40:48.319> somewhere<00:40:48.640> in<00:40:48.720> the<00:40:48.839> world<00:40:49.079> but<00:40:49.200> it's 00:40:49.349 --> 00:40:49.359 align:start position:0% there somewhere in the world but it's 00:40:49.359 --> 00:40:51.990 align:start position:0% there somewhere in the world but it's not<00:40:49.880> it's<00:40:50.040> not<00:40:50.160> on<00:40:50.280> a<00:40:50.440> database<00:40:51.400> oh<00:40:51.640> it's<00:40:51.800> gone 00:40:51.990 --> 00:40:52.000 align:start position:0% not it's not on a database oh it's gone 00:40:52.000 --> 00:40:55.430 align:start position:0% not it's not on a database oh it's gone to<00:40:52.160> sleep<00:40:52.760> hopefully<00:40:53.079> you<00:40:53.200> haven't<00:40:53.560> either<00:40:54.440> um 00:40:55.430 --> 00:40:55.440 align:start position:0% to sleep hopefully you haven't either um 00:40:55.440 --> 00:40:57.829 align:start position:0% to sleep hopefully you haven't either um thank<00:40:55.599> you<00:40:56.400> um<00:40:56.760> so<00:40:57.040> yes<00:40:57.319> so<00:40:57.480> these<00:40:57.599> are<00:40:57.720> the 00:40:57.829 --> 00:40:57.839 align:start position:0% thank you um so yes so these are the 00:40:57.839 --> 00:41:00.030 align:start position:0% thank you um so yes so these are the spores<00:40:58.280> and<00:40:58.440> this<00:40:58.520> is<00:40:58.680> like<00:40:58.839> my<00:40:59.119> melum<00:40:59.880> so 00:41:00.030 --> 00:41:00.040 align:start position:0% spores and this is like my melum so 00:41:00.040 --> 00:41:03.109 align:start position:0% spores and this is like my melum so these<00:41:00.160> are<00:41:00.319> all<00:41:00.520> my<00:41:00.680> different<00:41:01.079> songs<00:41:02.079> um<00:41:02.720> and 00:41:03.109 --> 00:41:03.119 align:start position:0% these are all my different songs um and 00:41:03.119 --> 00:41:04.829 align:start position:0% these are all my different songs um and uh<00:41:03.280> and<00:41:03.400> these<00:41:03.560> are<00:41:03.680> the<00:41:03.800> people<00:41:04.079> that<00:41:04.280> enable 00:41:04.829 --> 00:41:04.839 align:start position:0% uh and these are the people that enable 00:41:04.839 --> 00:41:07.550 align:start position:0% uh and these are the people that enable these<00:41:05.000> songs<00:41:05.359> to<00:41:05.480> get<00:41:05.640> above<00:41:05.960> ground<00:41:06.880> um<00:41:07.240> so 00:41:07.550 --> 00:41:07.560 align:start position:0% these songs to get above ground um so 00:41:07.560 --> 00:41:09.390 align:start position:0% these songs to get above ground um so here<00:41:07.720> we<00:41:07.920> have<00:41:08.240> so<00:41:08.400> do<00:41:08.520> I<00:41:08.680> just<00:41:08.920> where's<00:41:09.079> the<00:41:09.240> oh 00:41:09.390 --> 00:41:09.400 align:start position:0% here we have so do I just where's the oh 00:41:09.400 --> 00:41:11.589 align:start position:0% here we have so do I just where's the oh clicker<00:41:09.720> I've<00:41:09.839> got<00:41:09.920> a<00:41:10.040> clicker<00:41:10.440> have<00:41:10.520> I<00:41:10.640> got<00:41:10.720> a 00:41:11.589 --> 00:41:11.599 align:start position:0% clicker I've got a clicker have I got a 00:41:11.599 --> 00:41:14.670 align:start position:0% clicker I've got a clicker have I got a clicker<00:41:12.599> oh<00:41:12.800> do<00:41:12.880> I<00:41:12.960> not<00:41:13.079> use<00:41:13.240> that<00:41:13.839> no<00:41:14.280> just<00:41:14.400> use 00:41:14.670 --> 00:41:14.680 align:start position:0% clicker oh do I not use that no just use 00:41:14.680 --> 00:41:18.670 align:start position:0% clicker oh do I not use that no just use them<00:41:15.240> okay<00:41:15.359> so<00:41:15.480> here<00:41:15.599> we<00:41:15.680> go<00:41:16.160> mushrooms<00:41:17.160> um<00:41:17.680> so 00:41:18.670 --> 00:41:18.680 align:start position:0% them okay so here we go mushrooms um so 00:41:18.680 --> 00:41:21.069 align:start position:0% them okay so here we go mushrooms um so here<00:41:19.040> we<00:41:19.319> have<00:41:20.000> um 00:41:21.069 --> 00:41:21.079 align:start position:0% here we have um 00:41:21.079 --> 00:41:23.990 align:start position:0% here we have um o<00:41:22.079> um<00:41:22.240> we<00:41:22.359> have<00:41:22.480> Ojo<00:41:22.960> here<00:41:23.560> um<00:41:23.680> and<00:41:23.800> then 00:41:23.990 --> 00:41:24.000 align:start position:0% o um we have Ojo here um and then 00:41:24.000 --> 00:41:26.550 align:start position:0% o um we have Ojo here um and then YouTube<00:41:24.480> Spotify<00:41:25.119> so<00:41:25.359> these<00:41:25.480> are<00:41:25.760> I<00:41:25.920> imagine 00:41:26.550 --> 00:41:26.560 align:start position:0% YouTube Spotify so these are I imagine 00:41:26.560 --> 00:41:28.870 align:start position:0% YouTube Spotify so these are I imagine the<00:41:26.720> services<00:41:27.319> that<00:41:27.440> live<00:41:27.760> upon<00:41:28.440> the<00:41:28.720> the 00:41:28.870 --> 00:41:28.880 align:start position:0% the services that live upon the the 00:41:28.880 --> 00:41:32.069 align:start position:0% the services that live upon the the nutrients<00:41:29.560> of<00:41:29.720> the<00:41:29.880> music<00:41:30.599> uh<00:41:30.720> that<00:41:30.839> we<00:41:31.079> create 00:41:32.069 --> 00:41:32.079 align:start position:0% nutrients of the music uh that we create 00:41:32.079 --> 00:41:35.550 align:start position:0% nutrients of the music uh that we create um<00:41:32.680> and<00:41:33.400> so<00:41:33.680> every<00:41:33.880> time<00:41:34.200> you<00:41:34.800> uh<00:41:34.960> as<00:41:35.119> the<00:41:35.359> as 00:41:35.550 --> 00:41:35.560 align:start position:0% um and so every time you uh as the as 00:41:35.560 --> 00:41:38.630 align:start position:0% um and so every time you uh as the as the<00:41:35.880> user<00:41:36.520> would<00:41:36.720> like<00:41:36.880> to<00:41:37.079> find<00:41:37.319> out<00:41:37.599> about<00:41:38.280> um 00:41:38.630 --> 00:41:38.640 align:start position:0% the user would like to find out about um 00:41:38.640 --> 00:41:41.910 align:start position:0% the user would like to find out about um you<00:41:38.760> know<00:41:39.000> what's<00:41:39.640> exciting<00:41:40.240> musically<00:41:40.960> cated 00:41:41.910 --> 00:41:41.920 align:start position:0% you know what's exciting musically cated 00:41:41.920 --> 00:41:43.589 align:start position:0% you know what's exciting musically cated ujo<00:41:42.359> might<00:41:42.520> find<00:41:42.720> you<00:41:42.880> some<00:41:43.079> music<00:41:43.440> and<00:41:43.520> you 00:41:43.589 --> 00:41:43.599 align:start position:0% ujo might find you some music and you 00:41:43.599 --> 00:41:45.670 align:start position:0% ujo might find you some music and you might<00:41:44.000> discover<00:41:44.640> imag<00:41:44.880> and<00:41:45.040> Heat's<00:41:45.319> got<00:41:45.400> a<00:41:45.520> new 00:41:45.670 --> 00:41:45.680 align:start position:0% might discover imag and Heat's got a new 00:41:45.680 --> 00:41:48.349 align:start position:0% might discover imag and Heat's got a new track<00:41:45.960> out<00:41:46.440> so<00:41:46.640> all<00:41:46.839> these<00:41:47.079> people<00:41:47.680> you<00:41:47.839> know 00:41:48.349 --> 00:41:48.359 align:start position:0% track out so all these people you know 00:41:48.359 --> 00:41:49.670 align:start position:0% track out so all these people you know the<00:41:48.560> people<00:41:48.760> of<00:41:48.920> the<00:41:49.040> planet<00:41:49.359> who<00:41:49.480> like 00:41:49.670 --> 00:41:49.680 align:start position:0% the people of the planet who like 00:41:49.680 --> 00:41:52.430 align:start position:0% the people of the planet who like listening<00:41:49.960> to<00:41:50.119> music<00:41:51.000> um<00:41:51.160> we<00:41:51.319> might<00:41:51.599> have<00:41:52.319> uh 00:41:52.430 --> 00:41:52.440 align:start position:0% listening to music um we might have uh 00:41:52.440 --> 00:41:53.990 align:start position:0% listening to music um we might have uh Johnny<00:41:53.040> there<00:41:53.200> so<00:41:53.359> he's<00:41:53.520> like<00:41:53.680> oh<00:41:53.839> I'm<00:41:53.920> going 00:41:53.990 --> 00:41:54.000 align:start position:0% Johnny there so he's like oh I'm going 00:41:54.000 --> 00:41:55.950 align:start position:0% Johnny there so he's like oh I'm going to<00:41:54.079> listen<00:41:54.240> to<00:41:54.359> Imaging<00:41:54.680> heap's<00:41:55.119> new<00:41:55.319> song 00:41:55.950 --> 00:41:55.960 align:start position:0% to listen to Imaging heap's new song 00:41:55.960 --> 00:41:58.150 align:start position:0% to listen to Imaging heap's new song they<00:41:56.119> play<00:41:56.280> it<00:41:56.400> through<00:41:56.640> time<00:41:56.960> through<00:41:57.480> ujo 00:41:58.150 --> 00:41:58.160 align:start position:0% they play it through time through ujo 00:41:58.160 --> 00:42:00.349 align:start position:0% they play it through time through ujo but<00:41:58.280> ujo<00:41:58.760> is<00:41:58.920> going<00:41:59.200> directly<00:41:59.640> onto<00:41:59.920> a<00:42:00.079> kind<00:42:00.200> of 00:42:00.349 --> 00:42:00.359 align:start position:0% but ujo is going directly onto a kind of 00:42:00.359 --> 00:42:03.150 align:start position:0% but ujo is going directly onto a kind of bass<00:42:00.640> layer<00:42:01.319> so<00:42:01.520> this<00:42:01.680> is<00:42:02.160> as<00:42:02.280> an<00:42:02.480> artist<00:42:02.960> it's 00:42:03.150 --> 00:42:03.160 align:start position:0% bass layer so this is as an artist it's 00:42:03.160 --> 00:42:05.829 align:start position:0% bass layer so this is as an artist it's stopping<00:42:03.599> me<00:42:03.920> from<00:42:04.160> having<00:42:04.359> to<00:42:04.560> go<00:42:04.839> through 00:42:05.829 --> 00:42:05.839 align:start position:0% stopping me from having to go through 00:42:05.839 --> 00:42:07.430 align:start position:0% stopping me from having to go through like<00:42:06.040> it's<00:42:06.200> just<00:42:06.440> really<00:42:06.680> annoying<00:42:07.119> to<00:42:07.319> have 00:42:07.430 --> 00:42:07.440 align:start position:0% like it's just really annoying to have 00:42:07.440 --> 00:42:11.190 align:start position:0% like it's just really annoying to have to<00:42:07.920> upload<00:42:08.400> to<00:42:09.079> or<00:42:09.280> to<00:42:09.440> give<00:42:09.599> to<00:42:10.280> um<00:42:10.920> you<00:42:11.040> know 00:42:11.190 --> 00:42:11.200 align:start position:0% to upload to or to give to um you know 00:42:11.200 --> 00:42:15.190 align:start position:0% to upload to or to give to um you know to<00:42:11.319> put<00:42:11.440> it<00:42:11.520> up<00:42:11.640> onto<00:42:11.920> YouTube<00:42:12.680> iTunes<00:42:13.680> uh<00:42:14.680> Udo 00:42:15.190 --> 00:42:15.200 align:start position:0% to put it up onto YouTube iTunes uh Udo 00:42:15.200 --> 00:42:17.069 align:start position:0% to put it up onto YouTube iTunes uh Udo Streamliner<00:42:15.960> all<00:42:16.119> these<00:42:16.280> different<00:42:16.760> all<00:42:16.920> the 00:42:17.069 --> 00:42:17.079 align:start position:0% Streamliner all these different all the 00:42:17.079 --> 00:42:18.870 align:start position:0% Streamliner all these different all the Spotify<00:42:17.520> all<00:42:17.640> these<00:42:17.839> different<00:42:18.359> places<00:42:18.720> where 00:42:18.870 --> 00:42:18.880 align:start position:0% Spotify all these different places where 00:42:18.880 --> 00:42:22.030 align:start position:0% Spotify all these different places where I<00:42:19.000> have<00:42:19.240> each<00:42:19.559> individual<00:42:20.480> identities<00:42:21.480> I<00:42:21.599> have 00:42:22.030 --> 00:42:22.040 align:start position:0% I have each individual identities I have 00:42:22.040 --> 00:42:23.829 align:start position:0% I have each individual identities I have a<00:42:22.200> different<00:42:22.480> biography<00:42:23.200> different<00:42:23.520> press 00:42:23.829 --> 00:42:23.839 align:start position:0% a different biography different press 00:42:23.839 --> 00:42:25.309 align:start position:0% a different biography different press picture<00:42:24.200> it's<00:42:24.400> often<00:42:24.640> out<00:42:24.800> of<00:42:24.960> date<00:42:25.119> it's 00:42:25.309 --> 00:42:25.319 align:start position:0% picture it's often out of date it's 00:42:25.319 --> 00:42:27.910 align:start position:0% picture it's often out of date it's often<00:42:25.680> misrepresenting<00:42:26.520> me<00:42:27.400> this<00:42:27.559> way<00:42:27.839> I 00:42:27.910 --> 00:42:27.920 align:start position:0% often misrepresenting me this way I 00:42:27.920 --> 00:42:30.109 align:start position:0% often misrepresenting me this way I could<00:42:28.160> have<00:42:28.359> all<00:42:28.559> of<00:42:28.720> my<00:42:28.960> information<00:42:29.920> my 00:42:30.109 --> 00:42:30.119 align:start position:0% could have all of my information my 00:42:30.119 --> 00:42:32.190 align:start position:0% could have all of my information my current<00:42:30.440> press<00:42:30.760> pictures<00:42:31.599> you<00:42:31.720> know<00:42:32.000> it's 00:42:32.190 --> 00:42:32.200 align:start position:0% current press pictures you know it's 00:42:32.200 --> 00:42:33.870 align:start position:0% current press pictures you know it's like<00:42:32.359> beaming<00:42:32.720> out<00:42:32.880> as<00:42:33.000> a<00:42:33.079> beacon<00:42:33.440> going<00:42:33.760> this 00:42:33.870 --> 00:42:33.880 align:start position:0% like beaming out as a beacon going this 00:42:33.880 --> 00:42:35.710 align:start position:0% like beaming out as a beacon going this is<00:42:34.160> I'm<00:42:34.280> image<00:42:34.480> and<00:42:34.599> Heap<00:42:34.920> and<00:42:35.040> here's<00:42:35.280> my<00:42:35.480> new 00:42:35.710 --> 00:42:35.720 align:start position:0% is I'm image and Heap and here's my new 00:42:35.720 --> 00:42:37.390 align:start position:0% is I'm image and Heap and here's my new information<00:42:36.640> and<00:42:36.720> then<00:42:36.880> all<00:42:37.000> of<00:42:37.160> these 00:42:37.390 --> 00:42:37.400 align:start position:0% information and then all of these 00:42:37.400 --> 00:42:39.109 align:start position:0% information and then all of these Services<00:42:37.920> could<00:42:38.079> go<00:42:38.319> oh<00:42:38.480> thank<00:42:38.599> you<00:42:38.720> very<00:42:38.880> much 00:42:39.109 --> 00:42:39.119 align:start position:0% Services could go oh thank you very much 00:42:39.119 --> 00:42:41.030 align:start position:0% Services could go oh thank you very much I'll<00:42:39.319> take<00:42:39.720> the<00:42:39.839> new<00:42:40.079> biography<00:42:40.640> and<00:42:40.760> the<00:42:40.880> new 00:42:41.030 --> 00:42:41.040 align:start position:0% I'll take the new biography and the new 00:42:41.040 --> 00:42:42.870 align:start position:0% I'll take the new biography and the new picture<00:42:41.319> for<00:42:41.480> imagion<00:42:42.200> and<00:42:42.319> rather<00:42:42.559> than<00:42:42.680> me 00:42:42.870 --> 00:42:42.880 align:start position:0% picture for imagion and rather than me 00:42:42.880 --> 00:42:44.790 align:start position:0% picture for imagion and rather than me have<00:42:43.000> to<00:42:43.720> put<00:42:43.839> it<00:42:43.960> into<00:42:44.200> multiple<00:42:44.559> different 00:42:44.790 --> 00:42:44.800 align:start position:0% have to put it into multiple different 00:42:44.800 --> 00:42:47.230 align:start position:0% have to put it into multiple different places<00:42:45.119> I<00:42:45.240> put<00:42:45.359> it<00:42:45.480> into<00:42:45.760> one<00:42:46.160> place<00:42:46.880> I<00:42:47.000> put<00:42:47.119> it 00:42:47.230 --> 00:42:47.240 align:start position:0% places I put it into one place I put it 00:42:47.240 --> 00:42:49.710 align:start position:0% places I put it into one place I put it into<00:42:47.480> one<00:42:47.960> place<00:42:48.280> as<00:42:48.400> the<00:42:48.599> artist<00:42:49.520> that's 00:42:49.710 --> 00:42:49.720 align:start position:0% into one place as the artist that's 00:42:49.720 --> 00:42:52.589 align:start position:0% into one place as the artist that's looked<00:42:50.040> after<00:42:50.359> and<00:42:50.520> tended<00:42:50.960> over<00:42:51.760> by<00:42:52.280> other 00:42:52.589 --> 00:42:52.599 align:start position:0% looked after and tended over by other 00:42:52.599 --> 00:42:55.470 align:start position:0% looked after and tended over by other artists<00:42:53.200> and<00:42:53.559> fans<00:42:54.400> it's<00:42:54.559> a<00:42:54.800> foundation 00:42:55.470 --> 00:42:55.480 align:start position:0% artists and fans it's a foundation 00:42:55.480 --> 00:42:58.589 align:start position:0% artists and fans it's a foundation perhaps<00:42:56.040> maybe<00:42:56.280> it's<00:42:56.480> somewhere<00:42:57.480> um<00:42:58.079> that<00:42:58.480> you 00:42:58.589 --> 00:42:58.599 align:start position:0% perhaps maybe it's somewhere um that you 00:42:58.599 --> 00:43:00.950 align:start position:0% perhaps maybe it's somewhere um that you know<00:42:58.960> has<00:42:59.160> bodies<00:42:59.720> that<00:43:00.280> of<00:43:00.480> people<00:43:00.800> that 00:43:00.950 --> 00:43:00.960 align:start position:0% know has bodies that of people that 00:43:00.960 --> 00:43:01.990 align:start position:0% know has bodies that of people that really<00:43:01.119> really<00:43:01.319> know<00:43:01.520> what<00:43:01.640> they're<00:43:01.760> talking 00:43:01.990 --> 00:43:02.000 align:start position:0% really really know what they're talking 00:43:02.000 --> 00:43:03.710 align:start position:0% really really know what they're talking about<00:43:02.240> like<00:43:02.359> the<00:43:02.440> featured<00:43:02.839> artist<00:43:03.200> Coalition 00:43:03.710 --> 00:43:03.720 align:start position:0% about like the featured artist Coalition 00:43:03.720 --> 00:43:06.270 align:start position:0% about like the featured artist Coalition who<00:43:03.920> represent<00:43:04.599> featured<00:43:05.000> artists<00:43:05.599> you<00:43:05.680> know 00:43:06.270 --> 00:43:06.280 align:start position:0% who represent featured artists you know 00:43:06.280 --> 00:43:08.349 align:start position:0% who represent featured artists you know kind<00:43:06.400> of<00:43:06.480> government<00:43:07.160> level<00:43:07.440> fighting<00:43:07.839> for 00:43:08.349 --> 00:43:08.359 align:start position:0% kind of government level fighting for 00:43:08.359 --> 00:43:10.589 align:start position:0% kind of government level fighting for you<00:43:08.480> know<00:43:08.640> our<00:43:08.839> rights<00:43:09.119> the<00:43:09.319> different<00:43:09.720> ways 00:43:10.589 --> 00:43:10.599 align:start position:0% you know our rights the different ways 00:43:10.599 --> 00:43:12.190 align:start position:0% you know our rights the different ways um<00:43:10.760> so<00:43:10.960> this<00:43:11.040> is<00:43:11.200> who<00:43:11.359> I<00:43:11.480> see<00:43:11.680> as<00:43:11.839> the<00:43:12.000> kind<00:43:12.079> of 00:43:12.190 --> 00:43:12.200 align:start position:0% um so this is who I see as the kind of 00:43:12.200 --> 00:43:14.430 align:start position:0% um so this is who I see as the kind of mycelial<00:43:12.800> lever<00:43:13.319> level<00:43:13.920> and<00:43:14.040> then<00:43:14.119> we<00:43:14.280> got<00:43:14.359> the 00:43:14.430 --> 00:43:14.440 align:start position:0% mycelial lever level and then we got the 00:43:14.440 --> 00:43:16.990 align:start position:0% mycelial lever level and then we got the mushrooms<00:43:14.839> and<00:43:14.920> then<00:43:15.079> the<00:43:15.200> people<00:43:16.000> um<00:43:16.280> so<00:43:16.559> then 00:43:16.990 --> 00:43:17.000 align:start position:0% mushrooms and then the people um so then 00:43:17.000 --> 00:43:18.630 align:start position:0% mushrooms and then the people um so then there<00:43:17.119> we<00:43:17.319> go<00:43:17.720> I<00:43:17.800> mean<00:43:18.000> I'm<00:43:18.119> speaking<00:43:18.359> to<00:43:18.520> the 00:43:18.630 --> 00:43:18.640 align:start position:0% there we go I mean I'm speaking to the 00:43:18.640 --> 00:43:19.829 align:start position:0% there we go I mean I'm speaking to the converted<00:43:19.040> here<00:43:19.240> right<00:43:19.400> because<00:43:19.520> you<00:43:19.599> know 00:43:19.829 --> 00:43:19.839 align:start position:0% converted here right because you know 00:43:19.839 --> 00:43:21.670 align:start position:0% converted here right because you know all<00:43:20.000> about<00:43:20.240> this<00:43:20.800> um<00:43:20.920> but<00:43:21.040> this<00:43:21.200> is<00:43:21.359> I<00:43:21.440> did<00:43:21.599> this 00:43:21.670 --> 00:43:21.680 align:start position:0% all about this um but this is I did this 00:43:21.680 --> 00:43:24.109 align:start position:0% all about this um but this is I did this for<00:43:21.839> some<00:43:22.000> other<00:43:22.200> conference<00:43:23.000> um<00:43:23.359> so<00:43:23.839> um<00:43:24.000> here 00:43:24.109 --> 00:43:24.119 align:start position:0% for some other conference um so um here 00:43:24.119 --> 00:43:25.630 align:start position:0% for some other conference um so um here we<00:43:24.240> go<00:43:24.359> writer<00:43:24.680> image<00:43:24.880> and<00:43:25.000> heat<00:43:25.200> percussion 00:43:25.630 --> 00:43:25.640 align:start position:0% we go writer image and heat percussion 00:43:25.640 --> 00:43:27.510 align:start position:0% we go writer image and heat percussion Scout<00:43:26.160> that's<00:43:26.359> my<00:43:26.559> young<00:43:26.880> little<00:43:27.119> little 00:43:27.510 --> 00:43:27.520 align:start position:0% Scout that's my young little little 00:43:27.520 --> 00:43:30.230 align:start position:0% Scout that's my young little little one-year-old<00:43:28.160> daughter<00:43:29.000> um<00:43:29.160> she<00:43:29.359> played<00:43:29.680> some 00:43:30.230 --> 00:43:30.240 align:start position:0% one-year-old daughter um she played some 00:43:30.240 --> 00:43:33.549 align:start position:0% one-year-old daughter um she played some little<00:43:31.040> scrunchy<00:43:31.599> things<00:43:32.000> on<00:43:32.160> the<00:43:32.319> song<00:43:33.119> um 00:43:33.549 --> 00:43:33.559 align:start position:0% little scrunchy things on the song um 00:43:33.559 --> 00:43:36.549 align:start position:0% little scrunchy things on the song um cello<00:43:34.000> might<00:43:34.160> have<00:43:34.280> been<00:43:34.800> Zoe<00:43:35.240> trombone<00:43:35.960> Simon 00:43:36.549 --> 00:43:36.559 align:start position:0% cello might have been Zoe trombone Simon 00:43:36.559 --> 00:43:37.670 align:start position:0% cello might have been Zoe trombone Simon and<00:43:36.640> I<00:43:36.760> can<00:43:36.920> pay<00:43:37.119> each<00:43:37.280> one<00:43:37.400> of<00:43:37.520> these 00:43:37.670 --> 00:43:37.680 align:start position:0% and I can pay each one of these 00:43:37.680 --> 00:43:39.230 align:start position:0% and I can pay each one of these individually<00:43:38.200> like<00:43:38.359> that's<00:43:38.599> never<00:43:38.839> been<00:43:39.000> able 00:43:39.230 --> 00:43:39.240 align:start position:0% individually like that's never been able 00:43:39.240 --> 00:43:41.230 align:start position:0% individually like that's never been able to<00:43:39.400> happen<00:43:39.720> before<00:43:40.319> to<00:43:40.440> be<00:43:40.559> able<00:43:40.720> to<00:43:40.839> not<00:43:41.079> have 00:43:41.230 --> 00:43:41.240 align:start position:0% to happen before to be able to not have 00:43:41.240 --> 00:43:44.390 align:start position:0% to happen before to be able to not have to<00:43:42.000> like<00:43:42.200> write<00:43:42.480> out<00:43:42.680> checks<00:43:43.200> or<00:43:43.480> you<00:43:43.599> know<00:43:44.240> um 00:43:44.390 --> 00:43:44.400 align:start position:0% to like write out checks or you know um 00:43:44.400 --> 00:43:46.470 align:start position:0% to like write out checks or you know um pay<00:43:44.599> in<00:43:44.800> advance<00:43:45.480> because<00:43:45.640> that's<00:43:45.839> often<00:43:46.240> not 00:43:46.470 --> 00:43:46.480 align:start position:0% pay in advance because that's often not 00:43:46.480 --> 00:43:47.470 align:start position:0% pay in advance because that's often not possible<00:43:46.760> when<00:43:46.880> you're<00:43:46.960> a<00:43:47.079> musician<00:43:47.400> you 00:43:47.470 --> 00:43:47.480 align:start position:0% possible when you're a musician you 00:43:47.480 --> 00:43:49.549 align:start position:0% possible when you're a musician you don't<00:43:47.640> have<00:43:47.760> the<00:43:47.880> money<00:43:48.079> in<00:43:48.240> advance<00:43:49.119> um<00:43:49.400> you 00:43:49.549 --> 00:43:49.559 align:start position:0% don't have the money in advance um you 00:43:49.559 --> 00:43:51.230 align:start position:0% don't have the money in advance um you might<00:43:50.000> it<00:43:50.240> it<00:43:50.359> means<00:43:50.559> that<00:43:50.680> people<00:43:50.880> can<00:43:51.079> be 00:43:51.230 --> 00:43:51.240 align:start position:0% might it it means that people can be 00:43:51.240 --> 00:43:53.349 align:start position:0% might it it means that people can be invested<00:43:51.680> in<00:43:51.880> you<00:43:52.440> like<00:43:52.800> you<00:43:52.880> know<00:43:53.119> video 00:43:53.349 --> 00:43:53.359 align:start position:0% invested in you like you know video 00:43:53.359 --> 00:43:54.630 align:start position:0% invested in you like you know video director<00:43:53.720> can<00:43:53.839> say<00:43:54.000> I<00:43:54.119> really<00:43:54.280> really<00:43:54.440> love 00:43:54.630 --> 00:43:54.640 align:start position:0% director can say I really really love 00:43:54.640 --> 00:43:57.390 align:start position:0% director can say I really really love your<00:43:54.800> work<00:43:55.760> um<00:43:56.319> and<00:43:56.520> you<00:43:56.599> know<00:43:56.720> or<00:43:57.119> nor<00:43:57.319> they 00:43:57.390 --> 00:43:57.400 align:start position:0% your work um and you know or nor they 00:43:57.400 --> 00:43:59.349 align:start position:0% your work um and you know or nor they might<00:43:57.559> take<00:43:57.760> five<00:43:58.000> grand<00:43:58.280> or<00:43:58.480> 50<00:43:58.760> grand<00:43:59.040> for<00:43:59.200> a 00:43:59.349 --> 00:43:59.359 align:start position:0% might take five grand or 50 grand for a 00:43:59.359 --> 00:44:00.910 align:start position:0% might take five grand or 50 grand for a video<00:44:00.000> but<00:44:00.079> if<00:44:00.160> they<00:44:00.319> really<00:44:00.520> really<00:44:00.680> believe 00:44:00.910 --> 00:44:00.920 align:start position:0% video but if they really really believe 00:44:00.920 --> 00:44:02.630 align:start position:0% video but if they really really believe in<00:44:01.040> you<00:44:01.160> they<00:44:01.319> invest<00:44:01.640> in<00:44:01.800> you<00:44:02.000> so<00:44:02.200> they<00:44:02.359> take 00:44:02.630 --> 00:44:02.640 align:start position:0% in you they invest in you so they take 00:44:02.640 --> 00:44:05.190 align:start position:0% in you they invest in you so they take percent<00:44:03.599> um<00:44:03.760> so<00:44:03.960> this<00:44:04.079> kind<00:44:04.200> of<00:44:04.319> model<00:44:04.920> as<00:44:05.079> you 00:44:05.190 --> 00:44:05.200 align:start position:0% percent um so this kind of model as you 00:44:05.200 --> 00:44:06.589 align:start position:0% percent um so this kind of model as you know<00:44:05.440> would<00:44:05.640> would<00:44:05.800> help<00:44:06.000> that<00:44:06.160> so<00:44:06.319> here<00:44:06.440> they 00:44:06.589 --> 00:44:06.599 align:start position:0% know would would help that so here they 00:44:06.599 --> 00:44:10.309 align:start position:0% know would would help that so here they go<00:44:07.079> the<00:44:07.720> the<00:44:08.280> somebody<00:44:08.760> pays<00:44:09.240> for<00:44:09.480> something 00:44:10.309 --> 00:44:10.319 align:start position:0% go the the somebody pays for something 00:44:10.319 --> 00:44:12.910 align:start position:0% go the the somebody pays for something and<00:44:10.440> then<00:44:10.640> I<00:44:11.079> go<00:44:11.240> to<00:44:11.440> Sarah<00:44:11.960> and<00:44:12.119> maybe<00:44:12.400> Sarah 00:44:12.910 --> 00:44:12.920 align:start position:0% and then I go to Sarah and maybe Sarah 00:44:12.920 --> 00:44:15.230 align:start position:0% and then I go to Sarah and maybe Sarah is<00:44:13.079> a<00:44:13.240> fan<00:44:13.480> and<00:44:13.599> she's<00:44:13.839> hosting<00:44:14.480> the<00:44:14.640> music<00:44:15.079> so 00:44:15.230 --> 00:44:15.240 align:start position:0% is a fan and she's hosting the music so 00:44:15.240 --> 00:44:17.190 align:start position:0% is a fan and she's hosting the music so she<00:44:15.400> gets<00:44:15.599> a<00:44:15.720> piece<00:44:15.880> of<00:44:16.000> it<00:44:16.160> as<00:44:16.319> well<00:44:16.960> and<00:44:17.079> then 00:44:17.190 --> 00:44:17.200 align:start position:0% she gets a piece of it as well and then 00:44:17.200 --> 00:44:19.430 align:start position:0% she gets a piece of it as well and then the<00:44:17.319> video<00:44:17.599> director<00:44:18.040> Michael<00:44:19.040> um<00:44:19.160> would<00:44:19.319> get 00:44:19.430 --> 00:44:19.440 align:start position:0% the video director Michael um would get 00:44:19.440 --> 00:44:21.109 align:start position:0% the video director Michael um would get some<00:44:19.559> of<00:44:19.680> that<00:44:19.800> and<00:44:19.920> maybe<00:44:20.160> Andy<00:44:20.640> who's<00:44:20.839> done 00:44:21.109 --> 00:44:21.119 align:start position:0% some of that and maybe Andy who's done 00:44:21.119 --> 00:44:24.309 align:start position:0% some of that and maybe Andy who's done the<00:44:21.559> um<00:44:21.720> front<00:44:22.000> cover<00:44:22.440> design<00:44:23.440> um<00:44:23.839> or<00:44:24.040> all<00:44:24.200> of 00:44:24.309 --> 00:44:24.319 align:start position:0% the um front cover design um or all of 00:44:24.319 --> 00:44:26.750 align:start position:0% the um front cover design um or all of the<00:44:24.480> internal<00:44:25.440> uh<00:44:25.800> you<00:44:25.920> know<00:44:26.079> artwork<00:44:26.520> cuz<00:44:26.680> you 00:44:26.750 --> 00:44:26.760 align:start position:0% the internal uh you know artwork cuz you 00:44:26.760 --> 00:44:28.349 align:start position:0% the internal uh you know artwork cuz you could<00:44:26.880> do<00:44:27.240> that<00:44:27.400> in<00:44:27.559> this<00:44:27.680> lovely<00:44:28.040> digital 00:44:28.349 --> 00:44:28.359 align:start position:0% could do that in this lovely digital 00:44:28.359 --> 00:44:30.990 align:start position:0% could do that in this lovely digital world<00:44:28.559> that<00:44:28.680> we<00:44:28.800> live<00:44:28.920> in<00:44:29.760> um<00:44:30.440> and<00:44:30.559> then<00:44:30.720> up<00:44:30.880> it 00:44:30.990 --> 00:44:31.000 align:start position:0% world that we live in um and then up it 00:44:31.000 --> 00:44:33.990 align:start position:0% world that we live in um and then up it goes<00:44:31.359> music<00:44:31.599> and<00:44:31.720> the<00:44:31.880> pictures<00:44:32.839> um<00:44:33.599> so<00:44:33.920> and 00:44:33.990 --> 00:44:34.000 align:start position:0% goes music and the pictures um so and 00:44:34.000 --> 00:44:35.829 align:start position:0% goes music and the pictures um so and then<00:44:34.160> Billy<00:44:34.839> this<00:44:34.920> is<00:44:35.079> something<00:44:35.280> I<00:44:35.440> can't<00:44:35.640> do 00:44:35.829 --> 00:44:35.839 align:start position:0% then Billy this is something I can't do 00:44:35.839 --> 00:44:37.109 align:start position:0% then Billy this is something I can't do at<00:44:35.960> the<00:44:36.040> moment<00:44:36.280> I'd<00:44:36.440> love<00:44:36.559> to<00:44:36.640> be<00:44:36.720> able<00:44:36.880> to<00:44:36.960> do 00:44:37.109 --> 00:44:37.119 align:start position:0% at the moment I'd love to be able to do 00:44:37.119 --> 00:44:38.990 align:start position:0% at the moment I'd love to be able to do it<00:44:37.680> um<00:44:37.839> I'd<00:44:38.000> love<00:44:38.119> to<00:44:38.160> be<00:44:38.280> able<00:44:38.400> to<00:44:38.480> say<00:44:38.720> anyone 00:44:38.990 --> 00:44:39.000 align:start position:0% it um I'd love to be able to say anyone 00:44:39.000 --> 00:44:41.030 align:start position:0% it um I'd love to be able to say anyone under<00:44:39.280> 16<00:44:39.760> can<00:44:39.920> have<00:44:40.040> our<00:44:40.200> music<00:44:40.520> entirely 00:44:41.030 --> 00:44:41.040 align:start position:0% under 16 can have our music entirely 00:44:41.040 --> 00:44:43.230 align:start position:0% under 16 can have our music entirely free<00:44:41.440> on<00:44:41.839> all<00:44:42.240> platforms<00:44:42.839> because<00:44:43.079> that's 00:44:43.230 --> 00:44:43.240 align:start position:0% free on all platforms because that's 00:44:43.240 --> 00:44:45.430 align:start position:0% free on all platforms because that's what<00:44:43.359> I<00:44:43.480> would<00:44:43.640> like<00:44:43.880> as<00:44:44.000> the<00:44:44.160> artist<00:44:45.079> and<00:44:45.240> the 00:44:45.430 --> 00:44:45.440 align:start position:0% what I would like as the artist and the 00:44:45.440 --> 00:44:47.309 align:start position:0% what I would like as the artist and the and<00:44:45.640> the<00:44:45.920> the<00:44:46.160> the<00:44:46.240> services<00:44:46.680> that<00:44:46.839> don't 00:44:47.309 --> 00:44:47.319 align:start position:0% and the the the services that don't 00:44:47.319 --> 00:44:48.870 align:start position:0% and the the the services that don't allow<00:44:47.720> that<00:44:47.920> then<00:44:48.040> I<00:44:48.200> just<00:44:48.359> don't<00:44:48.559> let<00:44:48.760> my 00:44:48.870 --> 00:44:48.880 align:start position:0% allow that then I just don't let my 00:44:48.880 --> 00:44:51.390 align:start position:0% allow that then I just don't let my music<00:44:49.160> on<00:44:49.400> there<00:44:50.119> um<00:44:50.480> so<00:44:50.800> say<00:44:50.960> if<00:44:51.119> I<00:44:51.200> want<00:44:51.280> to 00:44:51.390 --> 00:44:51.400 align:start position:0% music on there um so say if I want to 00:44:51.400 --> 00:44:53.510 align:start position:0% music on there um so say if I want to have<00:44:51.520> Billy<00:44:51.839> who's<00:44:52.000> under<00:44:52.240> 16<00:44:52.960> yeah<00:44:53.079> I<00:44:53.200> want<00:44:53.480> I 00:44:53.510 --> 00:44:53.520 align:start position:0% have Billy who's under 16 yeah I want I 00:44:53.520 --> 00:44:54.589 align:start position:0% have Billy who's under 16 yeah I want I want<00:44:53.640> him<00:44:53.720> to<00:44:53.839> have<00:44:53.920> my<00:44:54.040> music<00:44:54.240> for<00:44:54.359> free 00:44:54.589 --> 00:44:54.599 align:start position:0% want him to have my music for free 00:44:54.599 --> 00:44:55.470 align:start position:0% want him to have my music for free because<00:44:54.680> he's<00:44:54.839> probably<00:44:55.040> going<00:44:55.119> to<00:44:55.240> take<00:44:55.359> it 00:44:55.470 --> 00:44:55.480 align:start position:0% because he's probably going to take it 00:44:55.480 --> 00:44:58.230 align:start position:0% because he's probably going to take it for<00:44:55.599> free<00:44:55.920> anyway<00:44:56.800> um<00:44:57.160> but<00:44:57.319> I'd<00:44:57.520> like<00:44:57.640> to<00:44:57.839> just 00:44:58.230 --> 00:44:58.240 align:start position:0% for free anyway um but I'd like to just 00:44:58.240 --> 00:44:59.870 align:start position:0% for free anyway um but I'd like to just give<00:44:58.440> him<00:44:58.599> it<00:44:58.839> because<00:44:59.079> why<00:44:59.240> not<00:44:59.440> you<00:44:59.559> know<00:44:59.760> he 00:44:59.870 --> 00:44:59.880 align:start position:0% give him it because why not you know he 00:44:59.880 --> 00:45:01.750 align:start position:0% give him it because why not you know he hasn't<00:45:00.079> got<00:45:00.200> a<00:45:00.319> job<00:45:00.480> so<00:45:00.640> that's<00:45:00.800> fair<00:45:01.000> enough 00:45:01.750 --> 00:45:01.760 align:start position:0% hasn't got a job so that's fair enough 00:45:01.760 --> 00:45:03.630 align:start position:0% hasn't got a job so that's fair enough um<00:45:02.000> so<00:45:02.200> there<00:45:02.319> we<00:45:02.480> go<00:45:02.720> the<00:45:02.839> hosting<00:45:03.200> comes<00:45:03.440> from 00:45:03.630 --> 00:45:03.640 align:start position:0% um so there we go the hosting comes from 00:45:03.640 --> 00:45:06.589 align:start position:0% um so there we go the hosting comes from Sarah<00:45:04.160> and<00:45:04.319> me<00:45:05.160> um<00:45:05.559> and<00:45:05.920> you<00:45:06.040> know<00:45:06.200> maybe<00:45:06.440> I 00:45:06.589 --> 00:45:06.599 align:start position:0% Sarah and me um and you know maybe I 00:45:06.599 --> 00:45:09.390 align:start position:0% Sarah and me um and you know maybe I give<00:45:06.760> Sarah<00:45:07.480> free<00:45:07.839> tickets<00:45:08.559> um<00:45:08.640> for<00:45:08.839> concerts 00:45:09.390 --> 00:45:09.400 align:start position:0% give Sarah free tickets um for concerts 00:45:09.400 --> 00:45:10.829 align:start position:0% give Sarah free tickets um for concerts in<00:45:09.599> thanks<00:45:09.880> for<00:45:10.040> hosting<00:45:10.319> it<00:45:10.480> even<00:45:10.640> though<00:45:10.720> she 00:45:10.829 --> 00:45:10.839 align:start position:0% in thanks for hosting it even though she 00:45:10.839 --> 00:45:12.750 align:start position:0% in thanks for hosting it even though she doesn't<00:45:11.040> get<00:45:11.440> a<00:45:11.599> payment<00:45:11.880> out<00:45:12.000> of<00:45:12.119> that<00:45:12.640> and 00:45:12.750 --> 00:45:12.760 align:start position:0% doesn't get a payment out of that and 00:45:12.760 --> 00:45:14.190 align:start position:0% doesn't get a payment out of that and there<00:45:12.880> we<00:45:13.040> go<00:45:13.280> and<00:45:13.400> then<00:45:13.520> the<00:45:13.640> next<00:45:13.920> person 00:45:14.190 --> 00:45:14.200 align:start position:0% there we go and then the next person 00:45:14.200 --> 00:45:16.510 align:start position:0% there we go and then the next person might<00:45:14.440> be<00:45:14.920> Mary<00:45:15.359> who's<00:45:15.599> over<00:45:15.800> 60<00:45:16.240> that's<00:45:16.400> why 00:45:16.510 --> 00:45:16.520 align:start position:0% might be Mary who's over 60 that's why 00:45:16.520 --> 00:45:19.950 align:start position:0% might be Mary who's over 60 that's why she's<00:45:16.800> gray<00:45:17.760> um<00:45:18.319> and<00:45:18.720> uh<00:45:19.160> maybe<00:45:19.440> I<00:45:19.520> would<00:45:19.720> like 00:45:19.950 --> 00:45:19.960 align:start position:0% she's gray um and uh maybe I would like 00:45:19.960 --> 00:45:22.430 align:start position:0% she's gray um and uh maybe I would like her<00:45:20.160> to<00:45:20.359> have<00:45:20.680> you<00:45:20.800> know<00:45:21.119> free<00:45:21.680> uh<00:45:21.800> free<00:45:22.040> music 00:45:22.430 --> 00:45:22.440 align:start position:0% her to have you know free uh free music 00:45:22.440 --> 00:45:23.829 align:start position:0% her to have you know free uh free music because<00:45:22.640> she's<00:45:22.880> worked<00:45:23.200> hard<00:45:23.400> enough<00:45:23.599> as<00:45:23.720> it 00:45:23.829 --> 00:45:23.839 align:start position:0% because she's worked hard enough as it 00:45:23.839 --> 00:45:26.030 align:start position:0% because she's worked hard enough as it is<00:45:24.319> you<00:45:24.440> know<00:45:24.880> and<00:45:25.000> so<00:45:25.160> I<00:45:25.240> want<00:45:25.359> to<00:45:25.559> thank<00:45:25.800> her 00:45:26.030 --> 00:45:26.040 align:start position:0% is you know and so I want to thank her 00:45:26.040 --> 00:45:28.309 align:start position:0% is you know and so I want to thank her and<00:45:26.200> give<00:45:26.359> her<00:45:26.520> some<00:45:26.680> free<00:45:26.800> music<00:45:27.160> it<00:45:27.839> um<00:45:28.160> there 00:45:28.309 --> 00:45:28.319 align:start position:0% and give her some free music it um there 00:45:28.319 --> 00:45:31.109 align:start position:0% and give her some free music it um there we<00:45:28.520> go<00:45:28.880> and<00:45:29.079> that<00:45:29.240> is<00:45:29.400> basically<00:45:29.880> the<00:45:30.000> idea<00:45:30.880> um 00:45:31.109 --> 00:45:31.119 align:start position:0% we go and that is basically the idea um 00:45:31.119 --> 00:45:32.230 align:start position:0% we go and that is basically the idea um and<00:45:31.240> then<00:45:31.319> you<00:45:31.400> can<00:45:31.520> see<00:45:31.640> I<00:45:31.720> wrote<00:45:31.880> a<00:45:31.960> song<00:45:32.119> with 00:45:32.230 --> 00:45:32.240 align:start position:0% and then you can see I wrote a song with 00:45:32.240 --> 00:45:33.670 align:start position:0% and then you can see I wrote a song with Taylor<00:45:32.520> Swift<00:45:32.800> that<00:45:32.880> was<00:45:33.040> very<00:45:33.200> nice<00:45:33.400> she<00:45:33.559> is 00:45:33.670 --> 00:45:33.680 align:start position:0% Taylor Swift that was very nice she is 00:45:33.680 --> 00:45:35.150 align:start position:0% Taylor Swift that was very nice she is one<00:45:33.760> of<00:45:33.880> the<00:45:33.960> 1%<00:45:34.359> that<00:45:34.480> does<00:45:34.599> make<00:45:34.720> money<00:45:35.000> so 00:45:35.150 --> 00:45:35.160 align:start position:0% one of the 1% that does make money so 00:45:35.160 --> 00:45:36.670 align:start position:0% one of the 1% that does make money so therefore<00:45:35.520> I<00:45:35.680> actually<00:45:35.920> can<00:45:36.079> make<00:45:36.280> some<00:45:36.400> money 00:45:36.670 --> 00:45:36.680 align:start position:0% therefore I actually can make some money 00:45:36.680 --> 00:45:39.510 align:start position:0% therefore I actually can make some money this<00:45:36.839> year<00:45:37.559> um<00:45:38.200> and<00:45:38.520> uh<00:45:38.599> so<00:45:38.760> she<00:45:39.040> would<00:45:39.200> then<00:45:39.359> be 00:45:39.510 --> 00:45:39.520 align:start position:0% this year um and uh so she would then be 00:45:39.520 --> 00:45:42.990 align:start position:0% this year um and uh so she would then be connected<00:45:39.920> to<00:45:40.079> my<00:45:40.720> melium<00:45:41.720> um<00:45:42.200> because<00:45:42.720> she 00:45:42.990 --> 00:45:43.000 align:start position:0% connected to my melium um because she 00:45:43.000 --> 00:45:45.150 align:start position:0% connected to my melium um because she would<00:45:43.200> then<00:45:43.880> divide<00:45:44.200> up<00:45:44.400> her<00:45:44.599> payments<00:45:45.000> from 00:45:45.150 --> 00:45:45.160 align:start position:0% would then divide up her payments from 00:45:45.160 --> 00:45:47.230 align:start position:0% would then divide up her payments from that<00:45:45.280> song<00:45:45.599> directly<00:45:45.880> to<00:45:46.000> me<00:45:46.720> across<00:45:47.000> the 00:45:47.230 --> 00:45:47.240 align:start position:0% that song directly to me across the 00:45:47.240 --> 00:45:50.630 align:start position:0% that song directly to me across the network<00:45:48.240> um<00:45:48.680> so<00:45:48.920> that's<00:45:49.280> basically<00:45:49.920> it<00:45:50.480> it's 00:45:50.630 --> 00:45:50.640 align:start position:0% network um so that's basically it it's 00:45:50.640 --> 00:45:52.790 align:start position:0% network um so that's basically it it's just<00:45:50.800> like<00:45:51.599> I'm<00:45:51.880> I<00:45:52.000> know<00:45:52.160> that<00:45:52.280> we're<00:45:52.440> at<00:45:52.559> this 00:45:52.790 --> 00:45:52.800 align:start position:0% just like I'm I know that we're at this 00:45:52.800 --> 00:45:54.950 align:start position:0% just like I'm I know that we're at this really<00:45:53.200> amazing<00:45:53.880> time<00:45:54.160> now<00:45:54.480> like<00:45:54.559> I<00:45:54.640> know<00:45:54.800> you 00:45:54.950 --> 00:45:54.960 align:start position:0% really amazing time now like I know you 00:45:54.960 --> 00:45:56.670 align:start position:0% really amazing time now like I know you guys<00:45:55.079> have<00:45:55.200> known<00:45:55.359> about<00:45:55.520> blockchain<00:45:55.960> for<00:45:56.480> for 00:45:56.670 --> 00:45:56.680 align:start position:0% guys have known about blockchain for for 00:45:56.680 --> 00:45:59.990 align:start position:0% guys have known about blockchain for for e<00:45:57.000> on<00:45:57.640> um<00:45:58.079> but<00:45:58.280> it's<00:45:58.720> I<00:45:58.839> know<00:45:59.079> that<00:45:59.240> it's<00:45:59.480> a<00:45:59.839> a 00:45:59.990 --> 00:46:00.000 align:start position:0% e on um but it's I know that it's a a 00:46:00.000 --> 00:46:02.390 align:start position:0% e on um but it's I know that it's a a real<00:46:00.319> massive<00:46:00.720> point<00:46:01.079> in<00:46:01.319> in<00:46:01.480> the<00:46:01.640> industry 00:46:02.390 --> 00:46:02.400 align:start position:0% real massive point in in the industry 00:46:02.400 --> 00:46:04.430 align:start position:0% real massive point in in the industry and<00:46:02.559> music<00:46:02.880> and<00:46:03.079> Technology<00:46:03.520> are<00:46:03.680> always<00:46:04.000> like 00:46:04.430 --> 00:46:04.440 align:start position:0% and music and Technology are always like 00:46:04.440 --> 00:46:06.990 align:start position:0% and music and Technology are always like hand<00:46:04.640> in<00:46:04.839> hand<00:46:05.280> like<00:46:05.440> moving<00:46:05.720> to<00:46:05.920> the<00:46:06.040> Future 00:46:06.990 --> 00:46:07.000 align:start position:0% hand in hand like moving to the Future 00:46:07.000 --> 00:46:09.270 align:start position:0% hand in hand like moving to the Future um<00:46:07.160> and<00:46:07.359> each<00:46:07.599> time<00:46:08.000> the<00:46:08.160> music<00:46:08.760> uh<00:46:08.880> industry 00:46:09.270 --> 00:46:09.280 align:start position:0% um and each time the music uh industry 00:46:09.280 --> 00:46:10.510 align:start position:0% um and each time the music uh industry adopts<00:46:09.599> a<00:46:09.680> piece<00:46:09.839> of<00:46:09.960> new<00:46:10.079> technology 00:46:10.510 --> 00:46:10.520 align:start position:0% adopts a piece of new technology 00:46:10.520 --> 00:46:12.230 align:start position:0% adopts a piece of new technology something<00:46:10.800> incredible<00:46:11.280> happens<00:46:11.960> and<00:46:12.079> that's 00:46:12.230 --> 00:46:12.240 align:start position:0% something incredible happens and that's 00:46:12.240 --> 00:46:13.950 align:start position:0% something incredible happens and that's what's<00:46:12.400> happening<00:46:12.720> now<00:46:13.119> the<00:46:13.240> blockchain<00:46:13.800> and 00:46:13.950 --> 00:46:13.960 align:start position:0% what's happening now the blockchain and 00:46:13.960 --> 00:46:15.710 align:start position:0% what's happening now the blockchain and music<00:46:14.280> are<00:46:14.400> going<00:46:14.520> to<00:46:15.000> you<00:46:15.119> know<00:46:15.280> mesh 00:46:15.710 --> 00:46:15.720 align:start position:0% music are going to you know mesh 00:46:15.720 --> 00:46:17.870 align:start position:0% music are going to you know mesh together<00:46:15.920> in<00:46:16.079> beautiful<00:46:16.480> Harmony<00:46:17.359> um<00:46:17.640> but<00:46:17.760> I 00:46:17.870 --> 00:46:17.880 align:start position:0% together in beautiful Harmony um but I 00:46:17.880 --> 00:46:19.190 align:start position:0% together in beautiful Harmony um but I just<00:46:17.960> want<00:46:18.079> to<00:46:18.200> make<00:46:18.359> sure<00:46:18.559> from<00:46:18.680> the<00:46:18.800> artist 00:46:19.190 --> 00:46:19.200 align:start position:0% just want to make sure from the artist 00:46:19.200 --> 00:46:21.349 align:start position:0% just want to make sure from the artist perspective<00:46:19.800> that<00:46:20.440> what<00:46:20.599> are<00:46:20.839> kind<00:46:21.000> of<00:46:21.160> our 00:46:21.349 --> 00:46:21.359 align:start position:0% perspective that what are kind of our 00:46:21.359 --> 00:46:23.790 align:start position:0% perspective that what are kind of our concerns<00:46:21.920> about<00:46:22.520> the<00:46:22.640> music<00:46:22.960> industry<00:46:23.599> are 00:46:23.790 --> 00:46:23.800 align:start position:0% concerns about the music industry are 00:46:23.800 --> 00:46:25.829 align:start position:0% concerns about the music industry are being<00:46:24.040> heard<00:46:24.520> at<00:46:24.640> the<00:46:24.839> time<00:46:25.040> of<00:46:25.280> developing 00:46:25.829 --> 00:46:25.839 align:start position:0% being heard at the time of developing 00:46:25.839 --> 00:46:27.910 align:start position:0% being heard at the time of developing these<00:46:26.000> new<00:46:26.160> tools<00:46:26.920> so<00:46:27.040> I'm<00:46:27.200> kind<00:46:27.319> of<00:46:27.720> it's 00:46:27.910 --> 00:46:27.920 align:start position:0% these new tools so I'm kind of it's 00:46:27.920 --> 00:46:29.309 align:start position:0% these new tools so I'm kind of it's really<00:46:28.119> amazing<00:46:28.400> to<00:46:28.480> be<00:46:28.559> able<00:46:28.720> to<00:46:28.800> share<00:46:29.079> this 00:46:29.309 --> 00:46:29.319 align:start position:0% really amazing to be able to share this 00:46:29.319 --> 00:46:31.390 align:start position:0% really amazing to be able to share this idea<00:46:29.960> so<00:46:30.280> people<00:46:30.480> are<00:46:30.839> if<00:46:30.960> they're<00:46:31.119> thinking 00:46:31.390 --> 00:46:31.400 align:start position:0% idea so people are if they're thinking 00:46:31.400 --> 00:46:33.710 align:start position:0% idea so people are if they're thinking about<00:46:31.680> developing<00:46:32.160> these<00:46:32.440> Technologies<00:46:33.440> um 00:46:33.710 --> 00:46:33.720 align:start position:0% about developing these Technologies um 00:46:33.720 --> 00:46:35.230 align:start position:0% about developing these Technologies um maybe<00:46:33.960> they<00:46:34.040> could<00:46:34.240> think<00:46:34.559> from<00:46:34.720> the<00:46:34.880> artist 00:46:35.230 --> 00:46:35.240 align:start position:0% maybe they could think from the artist 00:46:35.240 --> 00:46:37.030 align:start position:0% maybe they could think from the artist perspective<00:46:35.720> also<00:46:36.440> that<00:46:36.559> wouldn't<00:46:36.800> it<00:46:36.880> be 00:46:37.030 --> 00:46:37.040 align:start position:0% perspective also that wouldn't it be 00:46:37.040 --> 00:46:39.270 align:start position:0% perspective also that wouldn't it be nice<00:46:37.240> just<00:46:37.359> to<00:46:37.520> have<00:46:37.720> one<00:46:38.040> place<00:46:38.760> we<00:46:38.880> can<00:46:39.040> just 00:46:39.270 --> 00:46:39.280 align:start position:0% nice just to have one place we can just 00:46:39.280 --> 00:46:41.670 align:start position:0% nice just to have one place we can just get<00:46:39.400> on<00:46:39.520> with<00:46:39.680> right<00:46:39.880> our<00:46:40.200> music<00:46:40.920> you<00:46:41.079> know<00:46:41.440> and 00:46:41.670 --> 00:46:41.680 align:start position:0% get on with right our music you know and 00:46:41.680 --> 00:46:43.390 align:start position:0% get on with right our music you know and and<00:46:41.839> just<00:46:42.000> deal<00:46:42.240> with<00:46:42.359> all<00:46:42.480> of<00:46:42.640> these<00:46:42.880> things 00:46:43.390 --> 00:46:43.400 align:start position:0% and just deal with all of these things 00:46:43.400 --> 00:46:44.589 align:start position:0% and just deal with all of these things so<00:46:43.559> that<00:46:43.680> we<00:46:43.760> don't<00:46:43.960> have<00:46:44.079> to<00:46:44.200> deal<00:46:44.359> with<00:46:44.480> them 00:46:44.589 --> 00:46:44.599 align:start position:0% so that we don't have to deal with them 00:46:44.599 --> 00:46:48.829 align:start position:0% so that we don't have to deal with them all<00:46:44.920> later<00:46:45.920> um<00:46:46.720> and<00:46:47.160> uh<00:46:48.040> yeah<00:46:48.280> and<00:46:48.480> massive 00:46:48.829 --> 00:46:48.839 align:start position:0% all later um and uh yeah and massive 00:46:48.839 --> 00:46:51.630 align:start position:0% all later um and uh yeah and massive thank<00:46:49.000> you<00:46:49.240> to<00:46:49.720> um<00:46:49.839> to<00:46:50.040> Vin<00:46:50.920> um<00:46:51.200> and<00:46:51.319> the<00:46:51.480> guys 00:46:51.630 --> 00:46:51.640 align:start position:0% thank you to um to Vin um and the guys 00:46:51.640 --> 00:46:54.150 align:start position:0% thank you to um to Vin um and the guys at<00:46:51.800> ethereum<00:46:52.599> for<00:46:53.000> you<00:46:53.119> know<00:46:53.599> helping<00:46:53.920> me 00:46:54.150 --> 00:46:54.160 align:start position:0% at ethereum for you know helping me 00:46:54.160 --> 00:46:56.990 align:start position:0% at ethereum for you know helping me flesh<00:46:54.440> out<00:46:54.760> ideas<00:46:55.760> um<00:46:56.119> and<00:46:56.319> uh<00:46:56.440> and<00:46:56.559> kind<00:46:56.680> of 00:46:56.990 --> 00:46:57.000 align:start position:0% flesh out ideas um and uh and kind of 00:46:57.000 --> 00:46:59.710 align:start position:0% flesh out ideas um and uh and kind of opening<00:46:57.319> their<00:46:57.480> arms<00:46:58.160> up<00:46:58.319> to<00:46:58.480> me<00:46:59.119> uh<00:46:59.480> with 00:46:59.710 --> 00:46:59.720 align:start position:0% opening their arms up to me uh with 00:46:59.720 --> 00:47:01.710 align:start position:0% opening their arms up to me uh with these<00:47:00.200> with<00:47:00.359> these<00:47:00.559> ideas<00:47:01.319> and<00:47:01.440> I<00:47:01.599> look 00:47:01.710 --> 00:47:01.720 align:start position:0% these with these ideas and I look 00:47:01.720 --> 00:47:04.030 align:start position:0% these with these ideas and I look forward<00:47:02.040> to<00:47:02.520> working<00:47:02.880> in<00:47:03.000> the<00:47:03.119> future<00:47:03.839> with 00:47:04.030 --> 00:47:04.040 align:start position:0% forward to working in the future with 00:47:04.040 --> 00:47:12.750 align:start position:0% forward to working in the future with some<00:47:04.200> of 00:47:12.750 --> 00:47:12.760 align:start position:0% 00:47:12.760 --> 00:47:15.510 align:start position:0% you<00:47:13.760> thank<00:47:13.920> you<00:47:14.400> thank<00:47:14.559> you<00:47:14.760> IM 00:47:15.510 --> 00:47:15.520 align:start position:0% you thank you thank you IM 00:47:15.520 --> 00:47:18.109 align:start position:0% you thank you thank you IM [Applause] 00:47:18.109 --> 00:47:18.119 align:start position:0% [Applause] 00:47:18.119 --> 00:47:21.710 align:start position:0% [Applause] he<00:47:19.119> word<00:47:19.559> uh<00:47:19.760> from<00:47:20.040> vitalic<00:47:20.559> before<00:47:20.880> we<00:47:21.000> end 00:47:21.710 --> 00:47:21.720 align:start position:0% he word uh from vitalic before we end 00:47:21.720 --> 00:47:24.510 align:start position:0% he word uh from vitalic before we end thank<00:47:21.880> you<00:47:22.000> image<00:47:22.200> and<00:47:22.359> Heap<00:47:22.640> again<00:47:23.040> yeah<00:47:23.400> so<00:47:24.400> I 00:47:24.510 --> 00:47:24.520 align:start position:0% thank you image and Heap again yeah so I 00:47:24.520 --> 00:47:26.349 align:start position:0% thank you image and Heap again yeah so I me<00:47:24.800> I<00:47:24.960> definitely<00:47:25.559> just<00:47:25.720> want<00:47:25.839> to<00:47:26.079> thank 00:47:26.349 --> 00:47:26.359 align:start position:0% me I definitely just want to thank 00:47:26.359 --> 00:47:29.030 align:start position:0% me I definitely just want to thank everyone<00:47:26.920> for<00:47:27.599> coming<00:47:27.880> for<00:47:28.119> this<00:47:28.280> entire<00:47:28.680> week 00:47:29.030 --> 00:47:29.040 align:start position:0% everyone for coming for this entire week 00:47:29.040 --> 00:47:30.710 align:start position:0% everyone for coming for this entire week it's<00:47:29.839> I<00:47:29.920> think<00:47:30.079> it's<00:47:30.200> been<00:47:30.319> a<00:47:30.480> great 00:47:30.710 --> 00:47:30.720 align:start position:0% it's I think it's been a great 00:47:30.720 --> 00:47:33.270 align:start position:0% it's I think it's been a great conference<00:47:31.319> I<00:47:31.480> think<00:47:31.800> it's<00:47:32.720> particularly 00:47:33.270 --> 00:47:33.280 align:start position:0% conference I think it's particularly 00:47:33.280 --> 00:47:35.670 align:start position:0% conference I think it's particularly showed<00:47:33.880> just<00:47:34.160> how<00:47:34.359> far<00:47:34.599> the<00:47:34.760> ecosystem<00:47:35.480> has 00:47:35.670 --> 00:47:35.680 align:start position:0% showed just how far the ecosystem has 00:47:35.680 --> 00:47:37.390 align:start position:0% showed just how far the ecosystem has the<00:47:35.760> E<00:47:35.839> theorum<00:47:36.160> ecosystem<00:47:36.640> has<00:47:36.800> come<00:47:37.160> ever 00:47:37.390 --> 00:47:37.400 align:start position:0% the E theorum ecosystem has come ever 00:47:37.400 --> 00:47:39.910 align:start position:0% the E theorum ecosystem has come ever since<00:47:37.880> uh<00:47:38.359> last<00:47:38.520> year<00:47:38.720> is<00:47:38.920> Defcon<00:47:39.359> zero<00:47:39.760> back 00:47:39.910 --> 00:47:39.920 align:start position:0% since uh last year is Defcon zero back 00:47:39.920 --> 00:47:41.470 align:start position:0% since uh last year is Defcon zero back when<00:47:40.040> we<00:47:40.119> were<00:47:40.280> still<00:47:40.599> about<00:47:40.800> 30<00:47:41.160> people 00:47:41.470 --> 00:47:41.480 align:start position:0% when we were still about 30 people 00:47:41.480 --> 00:47:44.150 align:start position:0% when we were still about 30 people huddled<00:47:41.880> up<00:47:42.040> in<00:47:42.280> this<00:47:42.640> uh<00:47:43.240> tiny<00:47:43.520> little<00:47:43.839> office 00:47:44.150 --> 00:47:44.160 align:start position:0% huddled up in this uh tiny little office 00:47:44.160 --> 00:47:48.270 align:start position:0% huddled up in this uh tiny little office at<00:47:44.440> 37<00:47:45.040> V<00:47:45.440> marasa<00:47:46.000> in<00:47:46.520> Berlin 00:47:48.270 --> 00:47:48.280 align:start position:0% at 37 V marasa in Berlin 00:47:48.280 --> 00:47:51.829 align:start position:0% at 37 V marasa in Berlin and<00:47:49.280> you<00:47:49.400> know<00:47:50.040> I<00:47:50.119> think<00:47:50.240> it's<00:47:50.440> clearly<00:47:51.440> showed 00:47:51.829 --> 00:47:51.839 align:start position:0% and you know I think it's clearly showed 00:47:51.839 --> 00:47:53.510 align:start position:0% and you know I think it's clearly showed that<00:47:51.920> you<00:47:52.000> know<00:47:52.119> the<00:47:52.240> ethereum<00:47:53.079> ethereum 00:47:53.510 --> 00:47:53.520 align:start position:0% that you know the ethereum ethereum 00:47:53.520 --> 00:47:55.829 align:start position:0% that you know the ethereum ethereum community<00:47:53.880> is<00:47:54.079> grown<00:47:54.680> it's<00:47:54.880> attracted<00:47:55.440> people 00:47:55.829 --> 00:47:55.839 align:start position:0% community is grown it's attracted people 00:47:55.839 --> 00:47:58.829 align:start position:0% community is grown it's attracted people from<00:47:56.440> all<00:47:56.599> part<00:47:56.839> parts<00:47:57.040> of<00:47:57.160> the<00:47:57.280> world<00:47:57.800> and<00:47:58.680> one 00:47:58.829 --> 00:47:58.839 align:start position:0% from all part parts of the world and one 00:47:58.839 --> 00:48:00.870 align:start position:0% from all part parts of the world and one of<00:47:59.000> my<00:47:59.200> favorite<00:47:59.559> Parts<00:47:59.880> about<00:48:00.119> the<00:48:00.280> space<00:48:00.599> is 00:48:00.870 --> 00:48:00.880 align:start position:0% of my favorite Parts about the space is 00:48:00.880 --> 00:48:02.670 align:start position:0% of my favorite Parts about the space is just 00:48:02.670 --> 00:48:02.680 align:start position:0% just 00:48:02.680 --> 00:48:06.190 align:start position:0% just the<00:48:03.680> the<00:48:03.760> sheer<00:48:04.160> diversity<00:48:04.880> the<00:48:05.160> the<00:48:05.319> quality 00:48:06.190 --> 00:48:06.200 align:start position:0% the the sheer diversity the the quality 00:48:06.200 --> 00:48:07.990 align:start position:0% the the sheer diversity the the quality the<00:48:06.319> kinds<00:48:06.720> the<00:48:06.880> kinds<00:48:07.119> of<00:48:07.520> different<00:48:07.800> kinds 00:48:07.990 --> 00:48:08.000 align:start position:0% the kinds the kinds of different kinds 00:48:08.000 --> 00:48:09.589 align:start position:0% the kinds the kinds of different kinds of<00:48:08.200> people<00:48:08.480> that<00:48:08.599> we've<00:48:08.800> attracted<00:48:09.280> you<00:48:09.400> know 00:48:09.589 --> 00:48:09.599 align:start position:0% of people that we've attracted you know 00:48:09.599 --> 00:48:13.030 align:start position:0% of people that we've attracted you know this<00:48:09.760> is<00:48:10.400> this<00:48:10.559> isn't<00:48:11.240> just<00:48:12.240> this<00:48:12.359> isn't<00:48:12.800> just 00:48:13.030 --> 00:48:13.040 align:start position:0% this is this isn't just this isn't just 00:48:13.040 --> 00:48:16.150 align:start position:0% this is this isn't just this isn't just about<00:48:13.960> about<00:48:14.160> a<00:48:14.319> currency<00:48:14.800> this<00:48:14.920> isn't<00:48:15.280> just 00:48:16.150 --> 00:48:16.160 align:start position:0% about about a currency this isn't just 00:48:16.160 --> 00:48:17.390 align:start position:0% about about a currency this isn't just just 00:48:17.390 --> 00:48:17.400 align:start position:0% just 00:48:17.400 --> 00:48:19.910 align:start position:0% just about<00:48:18.400> even<00:48:18.680> one<00:48:18.920> particular<00:48:19.359> platform<00:48:19.800> you 00:48:19.910 --> 00:48:19.920 align:start position:0% about even one particular platform you 00:48:19.920 --> 00:48:21.750 align:start position:0% about even one particular platform you know<00:48:20.040> this<00:48:20.119> is<00:48:20.240> a<00:48:20.359> movement<00:48:20.960> it's<00:48:21.160> a<00:48:21.319> movement 00:48:21.750 --> 00:48:21.760 align:start position:0% know this is a movement it's a movement 00:48:21.760 --> 00:48:24.750 align:start position:0% know this is a movement it's a movement of<00:48:22.400> software<00:48:22.880> developers<00:48:23.480> of<00:48:23.760> mathematicians 00:48:24.750 --> 00:48:24.760 align:start position:0% of software developers of mathematicians 00:48:24.760 --> 00:48:27.270 align:start position:0% of software developers of mathematicians of<00:48:25.160> uh<00:48:25.640> political<00:48:26.200> activists 00:48:27.270 --> 00:48:27.280 align:start position:0% of uh political activists 00:48:27.280 --> 00:48:30.230 align:start position:0% of uh political activists uh<00:48:28.359> entrepreneurs<00:48:29.359> social<00:48:29.920> social 00:48:30.230 --> 00:48:30.240 align:start position:0% uh entrepreneurs social social 00:48:30.240 --> 00:48:32.710 align:start position:0% uh entrepreneurs social social entrepreneurs<00:48:31.000> Bank<00:48:31.280> you<00:48:31.400> know<00:48:31.880> banking 00:48:32.710 --> 00:48:32.720 align:start position:0% entrepreneurs Bank you know banking 00:48:32.720 --> 00:48:35.270 align:start position:0% entrepreneurs Bank you know banking Executives<00:48:33.720> and<00:48:34.559> you<00:48:34.680> know<00:48:34.839> I<00:48:34.960> think<00:48:35.160> this 00:48:35.270 --> 00:48:35.280 align:start position:0% Executives and you know I think this 00:48:35.280 --> 00:48:37.549 align:start position:0% Executives and you know I think this week<00:48:35.520> we've<00:48:35.720> seen<00:48:36.720> just<00:48:36.920> about<00:48:37.160> everyone 00:48:37.549 --> 00:48:37.559 align:start position:0% week we've seen just about everyone 00:48:37.559 --> 00:48:39.109 align:start position:0% week we've seen just about everyone represented 00:48:39.109 --> 00:48:39.119 align:start position:0% represented 00:48:39.119 --> 00:48:42.430 align:start position:0% represented and<00:48:40.119> you<00:48:40.240> know<00:48:40.480> the<00:48:40.599> community<00:48:41.079> to<00:48:41.280> me<00:48:41.520> is<00:48:42.319> I 00:48:42.430 --> 00:48:42.440 align:start position:0% and you know the community to me is I 00:48:42.440 --> 00:48:44.870 align:start position:0% and you know the community to me is I think<00:48:43.359> probably<00:48:43.680> my<00:48:43.839> fa<00:48:44.079> my<00:48:44.240> favorite<00:48:44.559> part<00:48:44.760> of 00:48:44.870 --> 00:48:44.880 align:start position:0% think probably my fa my favorite part of 00:48:44.880 --> 00:48:48.030 align:start position:0% think probably my fa my favorite part of this<00:48:45.040> whole<00:48:45.280> thing<00:48:45.880> so<00:48:46.640> thank<00:48:46.839> you<00:48:47.000> all<00:48:47.480> and 00:48:48.030 --> 00:48:48.040 align:start position:0% this whole thing so thank you all and 00:48:48.040 --> 00:48:51.590 align:start position:0% this whole thing so thank you all and hope<00:48:48.160> to<00:48:48.319> see<00:48:48.440> you<00:48:48.599> next<00:48:48.839> year 00:48:51.590 --> 00:48:51.600 align:start position:0% hope to see you next year 00:48:51.600 --> 00:48:59.100 align:start position:0% hope to see you next year [Applause] 00:48:59.100 --> 00:48:59.110 align:start position:0% 00:48:59.110 --> 00:49:03.439 align:start position:0% [Music]