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besides<00:00:01.150><c> being</c><00:00:01.390><c> a</c><00:00:01.449><c> software</c><00:00:01.719><c> engineer</c><00:00:01.989><c> I'm</c>

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besides being a software engineer I'm
 

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besides being a software engineer I'm
also<00:00:02.290><c> a</c><00:00:02.520><c> co-organizer</c><00:00:03.520><c> of</c><00:00:03.850><c> a</c><00:00:03.939><c> conference</c>

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also a co-organizer of a conference
 

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also a co-organizer of a conference
called<00:00:04.750><c> our</c><00:00:04.990><c> networks</c><00:00:05.320><c> on</c><00:00:05.530><c> all</c><00:00:05.740><c> aspects</c><00:00:06.160><c> of</c>

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called our networks on all aspects of
 

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called our networks on all aspects of
the<00:00:06.370><c> distributed</c><00:00:06.880><c> web</c><00:00:07.350><c> this</c><00:00:08.350><c> presentation</c><00:00:08.740><c> is</c>

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the distributed web this presentation is
 

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the distributed web this presentation is
going<00:00:09.100><c> to</c><00:00:09.250><c> be</c><00:00:09.340><c> a</c><00:00:09.370><c> little</c><00:00:09.730><c> more</c><00:00:09.910><c> philosophical</c>

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going to be a little more philosophical
 

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going to be a little more philosophical
than<00:00:10.660><c> some</c><00:00:11.170><c> of</c><00:00:11.290><c> the</c><00:00:11.380><c> other</c><00:00:11.560><c> more</c><00:00:11.980><c> maybe</c>

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than some of the other more maybe
 

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than some of the other more maybe
hands-on<00:00:12.880><c> talks</c><00:00:13.620><c> it's</c><00:00:14.620><c> also</c><00:00:14.800><c> a</c><00:00:14.980><c> shortened</c>

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hands-on talks it's also a shortened
 

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hands-on talks it's also a shortened
version<00:00:15.910><c> of</c><00:00:16.420><c> a</c><00:00:16.510><c> longer</c><00:00:16.900><c> presentation</c><00:00:17.080><c> so</c><00:00:17.860><c> I've</c>

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version of a longer presentation so I've
 

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version of a longer presentation so I've
tried<00:00:18.190><c> to</c><00:00:18.310><c> keep</c><00:00:18.460><c> in</c><00:00:18.640><c> all</c><00:00:18.910><c> of</c><00:00:19.150><c> the</c><00:00:19.330><c> most</c>

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tried to keep in all of the most
 

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tried to keep in all of the most
interesting<00:00:20.110><c> content</c><00:00:20.890><c> but</c><00:00:21.400><c> I</c><00:00:21.430><c> will</c><00:00:21.640><c> link</c><00:00:21.820><c> to</c>

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interesting content but I will link to
 

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interesting content but I will link to
the<00:00:22.150><c> longer</c><00:00:22.449><c> one</c><00:00:22.600><c> on</c><00:00:22.869><c> the</c><00:00:23.440><c> last</c><00:00:23.619><c> slide</c><00:00:25.320><c> so</c><00:00:26.320><c> this</c>

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the longer one on the last slide so this
 

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the longer one on the last slide so this
is<00:00:26.560><c> a</c><00:00:26.590><c> totally</c><00:00:27.190><c> not</c><00:00:27.490><c> comprehensive</c><00:00:28.270><c> overview</c>

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is a totally not comprehensive overview
 

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is a totally not comprehensive overview
of<00:00:28.810><c> the</c><00:00:29.560><c> decentralized</c><00:00:29.920><c> space</c><00:00:30.340><c> and</c><00:00:31.029><c> though</c>

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of the decentralized space and though
 

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of the decentralized space and though
this<00:00:31.300><c> presentation</c><00:00:31.689><c> will</c><00:00:32.169><c> be</c><00:00:32.379><c> hopefully</c><00:00:32.649><c> very</c>

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this presentation will be hopefully very
 

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this presentation will be hopefully very
relevant<00:00:33.249><c> to</c><00:00:33.550><c> blockchains</c><00:00:33.940><c> and</c><00:00:34.239><c> this</c><00:00:34.329><c> is</c><00:00:34.449><c> an</c>

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relevant to blockchains and this is an
 

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relevant to blockchains and this is an
aetherium<00:00:34.899><c> conference</c><00:00:35.350><c> I</c><00:00:35.620><c> think</c><00:00:36.280><c> it's</c><00:00:36.550><c> good</c>

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aetherium conference I think it's good
 

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aetherium conference I think it's good
to<00:00:36.760><c> remember</c><00:00:37.030><c> that</c><00:00:37.329><c> this</c><00:00:37.510><c> movement</c><00:00:37.780><c> spans</c>

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to remember that this movement spans
 

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to remember that this movement spans
other<00:00:38.739><c> tech</c><00:00:39.100><c> stacks</c><00:00:39.429><c> too</c><00:00:39.760><c> so</c><00:00:40.239><c> we</c><00:00:40.600><c> have</c><00:00:40.629><c> you</c>

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other tech stacks too so we have you
 

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other tech stacks too so we have you
know<00:00:40.989><c> the</c><00:00:41.109><c> network</c><00:00:41.229><c> layer</c><00:00:41.559><c> things</c><00:00:41.979><c> like</c>

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know the network layer things like
 

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know the network layer things like
community<00:00:42.639><c> mesh</c><00:00:42.819><c> networks</c><00:00:43.979><c> protocol</c><00:00:44.979><c> there</c>

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community mesh networks protocol there
 

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community mesh networks protocol there
we<00:00:45.399><c> have</c><00:00:45.579><c> block</c><00:00:45.789><c> chains</c><00:00:46.089><c> but</c><00:00:46.359><c> also</c><00:00:46.539><c> things</c>

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we have block chains but also things
 

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we have block chains but also things
like<00:00:47.139><c> IP</c><00:00:47.499><c> FS</c><00:00:48.329><c> application</c><00:00:49.329><c> layer</c><00:00:49.479><c> this</c><00:00:49.780><c> is</c>

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like IP FS application layer this is
 

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like IP FS application layer this is
what<00:00:50.109><c> we</c><00:00:50.199><c> might</c><00:00:50.350><c> fit</c><00:00:51.129><c> most</c><00:00:51.459><c> daps</c><00:00:52.030><c> and</c><00:00:52.449><c> then</c><00:00:52.539><c> we</c>

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what we might fit most daps and then we
 

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what we might fit most daps and then we
also<00:00:52.749><c> have</c><00:00:52.959><c> this</c><00:00:53.139><c> social</c><00:00:53.440><c> or</c><00:00:53.949><c> governance</c>

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also have this social or governance
 

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also have this social or governance
layer<00:00:54.729><c> where</c><00:00:55.149><c> we</c><00:00:55.179><c> might</c><00:00:55.389><c> put</c><00:00:55.600><c> things</c><00:00:55.780><c> like</c>

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layer where we might put things like
 

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layer where we might put things like
loomio<00:00:56.409><c> or</c><00:00:56.799><c> most</c><00:00:57.039><c> dowse</c>

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loomio or most dowse
 

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loomio or most dowse
this<00:00:59.559><c> is</c><00:00:59.709><c> the</c><00:00:59.799><c> agenda</c><00:00:59.979><c> for</c><00:01:00.369><c> our</c><00:01:00.399><c> talk</c><00:01:00.850><c> and</c><00:01:01.690><c> like</c>

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this is the agenda for our talk and like
 

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this is the agenda for our talk and like
I<00:01:01.959><c> said</c><00:01:02.019><c> this</c><00:01:02.350><c> presentation</c><00:01:02.859><c> is</c><00:01:03.190><c> cut</c><00:01:03.429><c> down</c><00:01:03.629><c> so</c>

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I said this presentation is cut down so
 

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I said this presentation is cut down so
instead<00:01:04.900><c> we're</c><00:01:05.080><c> going</c><00:01:05.110><c> to</c><00:01:05.260><c> focus</c><00:01:05.379><c> primarily</c>

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instead we're going to focus primarily
 

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instead we're going to focus primarily
on<00:01:06.190><c> the</c><00:01:06.400><c> first</c><00:01:06.700><c> question</c><00:01:07.060><c> on</c><00:01:07.180><c> the</c><00:01:07.270><c> list</c><00:01:07.420><c> and</c><00:01:07.750><c> we</c>

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on the first question on the list and we
 

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on the first question on the list and we
can<00:01:08.170><c> leave</c><00:01:08.350><c> the</c><00:01:08.650><c> final</c><00:01:09.490><c> two</c><00:01:09.640><c> maybe</c><00:01:09.850><c> for</c>

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can leave the final two maybe for
 

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can leave the final two maybe for
discussion<00:01:10.570><c> during</c><00:01:10.600><c> the</c><00:01:11.020><c> breakout</c><00:01:11.410><c> or</c><00:01:11.620><c> on</c>

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discussion during the breakout or on
 

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discussion during the breakout or on
conference<00:01:12.400><c> section</c><00:01:14.430><c> so</c><00:01:15.430><c> what</c><00:01:16.420><c> is</c>

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conference section so what is
 

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conference section so what is
decentralization<00:01:17.200><c> are</c><00:01:18.100><c> we</c><00:01:18.460><c> sure</c><00:01:18.670><c> that</c><00:01:18.700><c> we</c>

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decentralization are we sure that we
 

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decentralization are we sure that we
know<00:01:20.370><c> you</c><00:01:21.370><c> might</c><00:01:21.520><c> also</c><00:01:21.700><c> call</c><00:01:21.940><c> this</c><00:01:22.090><c> new</c>

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know you might also call this new
 

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know you might also call this new
version<00:01:23.220><c> decentralization</c><00:01:24.220><c> without</c><00:01:24.940><c> so</c><00:01:25.090><c> many</c>

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version decentralization without so many
 

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version decentralization without so many
discontents<00:01:27.330><c> so</c><00:01:28.330><c> yeah</c><00:01:28.450><c> it</c><00:01:28.870><c> turns</c><00:01:29.170><c> out</c><00:01:29.380><c> to</c><00:01:29.560><c> be</c><00:01:29.710><c> a</c>

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discontents so yeah it turns out to be a
 

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discontents so yeah it turns out to be a
more<00:01:30.220><c> complicated</c><00:01:30.550><c> question</c><00:01:31.270><c> than</c><00:01:31.300><c> you</c><00:01:31.570><c> might</c>

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more complicated question than you might
 

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more complicated question than you might
think

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think
 

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think
one<00:01:33.520><c> that</c><00:01:33.880><c> has</c><00:01:34.030><c> many</c><00:01:34.350><c> unsatisfying</c>

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one that has many unsatisfying
 

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one that has many unsatisfying
explanations<00:01:38.220><c> when</c><00:01:39.220><c> we</c><00:01:39.310><c> look</c><00:01:39.460><c> at</c><00:01:39.520><c> the</c><00:01:39.640><c> word</c><00:01:39.820><c> we</c>

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explanations when we look at the word we
 

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explanations when we look at the word we
don't<00:01:40.270><c> get</c><00:01:40.720><c> a</c><00:01:40.750><c> lot</c><00:01:40.930><c> of</c><00:01:41.020><c> help</c><00:01:41.200><c> all</c><00:01:41.650><c> this</c><00:01:41.860><c> word</c>

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don't get a lot of help all this word
 

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don't get a lot of help all this word
means<00:01:42.310><c> is</c><00:01:42.640><c> not</c><00:01:43.140><c> centralization</c><00:01:44.140><c> and</c><00:01:45.040><c> I'm</c><00:01:45.220><c> not</c>

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means is not centralization and I'm not
 

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means is not centralization and I'm not
the<00:01:45.490><c> first</c><00:01:45.580><c> person</c><00:01:45.700><c> to</c><00:01:45.940><c> point</c><00:01:46.150><c> this</c><00:01:46.270><c> out</c>

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the first person to point this out
 

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the first person to point this out
there's<00:01:47.620><c> a</c><00:01:47.680><c> name</c><00:01:47.890><c> for</c><00:01:48.070><c> this</c><00:01:48.159><c> type</c><00:01:48.370><c> of</c>

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there's a name for this type of
 

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there's a name for this type of
definition<00:01:48.700><c> and</c><00:01:49.270><c> it's</c><00:01:49.420><c> an</c><00:01:49.600><c> ant</c><00:01:49.780><c> anemic</c>

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definition and it's an ant anemic
 

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definition and it's an ant anemic
definition<00:01:50.710><c> but</c><00:01:51.640><c> the</c><00:01:51.700><c> problem</c><00:01:52.180><c> with</c><00:01:52.300><c> an</c><00:01:52.420><c> ant</c>

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definition but the problem with an ant
 

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definition but the problem with an ant
anemic<00:01:52.840><c> definition</c><00:01:53.350><c> is</c><00:01:53.670><c> you</c><00:01:54.670><c> know</c><00:01:54.760><c> we</c><00:01:55.180><c> have</c>

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anemic definition is you know we have
 

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anemic definition is you know we have
this<00:01:55.510><c> thing</c><00:01:55.780><c> that</c><00:01:55.840><c> we</c><00:01:56.320><c> can</c><00:01:56.560><c> call</c>

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this thing that we can call
 

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this thing that we can call
centralization<00:01:57.790><c> but</c><00:01:58.150><c> what</c><00:01:58.540><c> are</c><00:01:58.659><c> all</c><00:01:58.750><c> these</c>

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centralization but what are all these
 

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centralization but what are all these
other<00:01:58.930><c> things</c><00:01:59.440><c> that</c><00:01:59.740><c> aren't</c><00:02:00.010><c> the</c><00:02:00.280><c> same</c><00:02:00.310><c> thing</c>

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other things that aren't the same thing
 

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other things that aren't the same thing
and<00:02:01.030><c> also</c><00:02:01.510><c> aren't</c><00:02:01.720><c> centralization</c>

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and also aren't centralization
 

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and also aren't centralization
what<00:02:04.150><c> are</c><00:02:04.240><c> the</c><00:02:04.300><c> names</c><00:02:04.510><c> for</c><00:02:04.840><c> all</c><00:02:04.960><c> these</c>

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what are the names for all these
 

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what are the names for all these
different<00:02:05.650><c> not</c><00:02:06.220><c> centralized</c><00:02:06.760><c> ations</c>

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different not centralized ations
 

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different not centralized ations
the<00:02:09.310><c> origin</c><00:02:09.580><c> of</c><00:02:09.640><c> the</c><00:02:09.729><c> terms</c><00:02:09.970><c> in</c><00:02:10.180><c> the</c><00:02:10.240><c> mid-1800s</c>

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the origin of the terms in the mid-1800s
 

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the origin of the terms in the mid-1800s
Alex<00:02:11.830><c> de</c><00:02:12.010><c> Tocqueville</c><00:02:12.370><c> would</c><00:02:12.610><c> write</c><00:02:12.790><c> that</c><00:02:13.030><c> the</c>

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Alex de Tocqueville would write that the
 

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Alex de Tocqueville would write that the
French<00:02:13.570><c> Revolution</c><00:02:14.110><c> began</c><00:02:14.530><c> with</c><00:02:14.800><c> a</c><00:02:14.830><c> push</c>

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French Revolution began with a push
 

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French Revolution began with a push
towards<00:02:15.550><c> decentralization</c><00:02:16.270><c> that</c><00:02:16.690><c> became</c><00:02:17.440><c> in</c>

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towards decentralization that became in
 

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towards decentralization that became in
the<00:02:17.830><c> end</c><00:02:18.010><c> an</c><00:02:18.460><c> extension</c><00:02:18.940><c> of</c><00:02:19.030><c> centralization</c>

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the end an extension of centralization
 

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the end an extension of centralization
which<00:02:20.650><c> I</c><00:02:20.740><c> think</c><00:02:20.920><c> is</c><00:02:21.070><c> possibly</c><00:02:21.700><c> still</c>

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which I think is possibly still
 

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which I think is possibly still
interesting<00:02:22.330><c> to</c><00:02:22.450><c> keep</c><00:02:22.570><c> in</c><00:02:22.720><c> mind</c><00:02:22.900><c> as</c><00:02:23.110><c> we</c>

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interesting to keep in mind as we
 

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interesting to keep in mind as we
confront<00:02:23.500><c> for</c><00:02:23.800><c> example</c><00:02:24.160><c> blockchain</c>

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confront for example blockchain
 

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confront for example blockchain
maximalism<00:02:25.590><c> it</c><00:02:26.590><c> also</c><00:02:26.710><c> reminded</c><00:02:27.130><c> me</c><00:02:27.280><c> of</c><00:02:27.310><c> this</c>

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maximalism it also reminded me of this
 

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maximalism it also reminded me of this
Hannah<00:02:27.820><c> Arendt</c><00:02:28.000><c> passage</c><00:02:28.570><c> which</c><00:02:28.870><c> is</c><00:02:28.900><c> the</c><00:02:29.620><c> most</c>

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Hannah Arendt passage which is the most
 

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Hannah Arendt passage which is the most
radical<00:02:30.010><c> revolutionary</c><00:02:30.820><c> will</c><00:02:31.090><c> become</c><00:02:31.330><c> a</c>

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radical revolutionary will become a
 

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radical revolutionary will become a
conservative<00:02:31.960><c> the</c><00:02:32.350><c> day</c><00:02:32.500><c> after</c><00:02:32.770><c> the</c>

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conservative the day after the
 

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conservative the day after the
Revolution<00:02:34.410><c> and</c><00:02:35.410><c> indeed</c><00:02:35.740><c> the</c><00:02:35.950><c> word</c>

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Revolution and indeed the word
 

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Revolution and indeed the word
decentralization<00:02:36.910><c> is</c><00:02:37.300><c> still</c><00:02:37.540><c> used</c><00:02:37.780><c> more</c>

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decentralization is still used more
 

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decentralization is still used more
often<00:02:38.170><c> in</c><00:02:38.560><c> a</c><00:02:38.650><c> political</c><00:02:39.100><c> or</c><00:02:39.430><c> organizational</c>

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often in a political or organizational
 

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often in a political or organizational
context<00:02:40.750><c> than</c><00:02:40.960><c> a</c><00:02:40.990><c> technical</c><00:02:41.440><c> one</c><00:02:41.910><c> after</c><00:02:42.910><c> I</c>

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context than a technical one after I
 

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context than a technical one after I
came<00:02:43.120><c> up</c><00:02:43.240><c> with</c><00:02:43.270><c> the</c><00:02:43.450><c> title</c><00:02:43.630><c> for</c><00:02:43.930><c> this</c><00:02:44.020><c> talk</c><00:02:44.080><c> I</c>

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came up with the title for this talk I
 

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came up with the title for this talk I
found<00:02:44.650><c> out</c><00:02:44.770><c> it's</c><00:02:44.920><c> also</c><00:02:45.040><c> a</c><00:02:45.190><c> book</c><00:02:45.370><c> one</c><00:02:46.090><c> with</c><00:02:46.270><c> the</c>

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found out it's also a book one with the
 

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found out it's also a book one with the
subtitle<00:02:46.900><c> an</c><00:02:47.110><c> essay</c><00:02:47.380><c> on</c><00:02:47.530><c> class</c><00:02:47.770><c> political</c>

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subtitle an essay on class political
 

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subtitle an essay on class political
agency<00:02:48.790><c> and</c><00:02:49.120><c> national</c><00:02:49.450><c> perspective</c><00:02:49.960><c> in</c>

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agency and national perspective in
 

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agency and national perspective in
Indonesian<00:02:50.650><c> politics</c><00:02:51.570><c> the</c><00:02:52.570><c> Google</c>

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Indonesian politics the Google
 

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Indonesian politics the Google
definitions<00:02:53.290><c> of</c><00:02:53.440><c> the</c><00:02:53.560><c> word</c><00:02:53.710><c> are</c><00:02:55.380><c> the</c><00:02:56.380><c> transfer</c>

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definitions of the word are the transfer
 

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definitions of the word are the transfer
of<00:02:56.890><c> authority</c><00:02:57.400><c> from</c><00:02:57.610><c> central</c><00:02:58.060><c> to</c><00:02:58.210><c> local</c>

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of authority from central to local
 

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of authority from central to local
government<00:02:58.840><c> and</c><00:02:59.020><c> the</c><00:02:59.650><c> movement</c><00:03:00.070><c> of</c>

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government and the movement of
 

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government and the movement of
departments<00:03:01.000><c> of</c><00:03:01.150><c> a</c><00:03:01.240><c> large</c><00:03:01.450><c> organization</c><00:03:01.660><c> away</c>

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departments of a large organization away
 

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departments of a large organization away
from<00:03:02.710><c> a</c><00:03:02.770><c> single</c><00:03:03.070><c> administrative</c><00:03:03.520><c> centre</c><00:03:03.970><c> to</c>

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from a single administrative centre to
 

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from a single administrative centre to
other<00:03:04.600><c> locations</c><00:03:05.580><c> so</c><00:03:06.580><c> these</c><00:03:07.000><c> are</c><00:03:07.150><c> both</c>

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other locations so these are both
 

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other locations so these are both
political<00:03:07.570><c> and</c><00:03:08.110><c> organizational</c><00:03:08.459><c> definitions</c>

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political and organizational definitions
 

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political and organizational definitions
and<00:03:10.360><c> it's</c><00:03:10.540><c> possibly</c><00:03:10.930><c> ironic</c><00:03:11.410><c> to</c><00:03:11.650><c> be</c><00:03:11.770><c> part</c><00:03:12.070><c> of</c><00:03:12.160><c> a</c>

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and it's possibly ironic to be part of a
 

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and it's possibly ironic to be part of a
community<00:03:13.239><c> that</c><00:03:13.270><c> focuses</c><00:03:13.959><c> so</c><00:03:14.170><c> much</c><00:03:14.230><c> on</c>

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community that focuses so much on
 

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community that focuses so much on
decentralization<00:03:15.400><c> but</c><00:03:15.910><c> struggles</c><00:03:16.390><c> so</c><00:03:16.600><c> much</c>

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decentralization but struggles so much
 

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decentralization but struggles so much
with<00:03:17.020><c> governance</c><00:03:17.850><c> and</c><00:03:18.850><c> also</c><00:03:19.330><c> worth</c><00:03:19.600><c> noting</c>

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with governance and also worth noting
 

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with governance and also worth noting
off<00:03:20.050><c> the</c><00:03:20.170><c> bat</c><00:03:20.320><c> that</c><00:03:20.950><c> in</c><00:03:21.580><c> a</c><00:03:21.640><c> political</c><00:03:22.060><c> and</c>

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off the bat that in a political and
 

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off the bat that in a political and
organizational<00:03:22.480><c> context</c><00:03:23.410><c> the</c><00:03:23.860><c> concept</c><00:03:24.489><c> of</c>

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organizational context the concept of
 

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organizational context the concept of
decentralization<00:03:25.360><c> has</c><00:03:25.870><c> been</c><00:03:26.050><c> a</c><00:03:26.080><c> component</c><00:03:26.680><c> of</c>

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decentralization has been a component of
 

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decentralization has been a component of
many<00:03:27.370><c> different</c><00:03:27.790><c> political</c><00:03:27.940><c> movements</c><00:03:28.600><c> some</c>

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many different political movements some
 

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many different political movements some
very<00:03:29.830><c> at</c><00:03:29.950><c> odds</c><00:03:30.100><c> with</c><00:03:30.220><c> one</c><00:03:30.310><c> another</c><00:03:31.380><c> so</c><00:03:32.380><c> for</c>

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very at odds with one another so for
 

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very at odds with one another so for
example<00:03:32.920><c> there's</c><00:03:33.190><c> a</c><00:03:33.250><c> strong</c><00:03:33.610><c> free-market</c>

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example there's a strong free-market
 

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example there's a strong free-market
rationale<00:03:34.720><c> for</c><00:03:34.959><c> decentralization</c><00:03:36.209><c> this</c><00:03:37.209><c> is</c>

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rationale for decentralization this is
 

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rationale for decentralization this is
from<00:03:37.540><c> an</c><00:03:37.720><c> essay</c><00:03:38.080><c> on</c><00:03:38.110><c> information</c><00:03:38.860><c> markets</c><00:03:39.190><c> the</c>

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from an essay on information markets the
 

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from an essay on information markets the
sentence<00:03:39.760><c> before</c><00:03:39.940><c> it</c><00:03:40.239><c> cites</c><00:03:40.510><c> Adam</c><00:03:40.870><c> Smith</c><00:03:41.080><c> and</c>

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sentence before it cites Adam Smith and
 

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sentence before it cites Adam Smith and
the<00:03:41.410><c> one</c><00:03:41.560><c> after</c><00:03:41.770><c> it</c><00:03:41.980><c> cites</c><00:03:42.370><c> Friedrich</c><00:03:42.760><c> von</c>

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the one after it cites Friedrich von
 

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the one after it cites Friedrich von
Hayek<00:03:43.530><c> and</c><00:03:44.530><c> the</c><00:03:44.800><c> argument</c><00:03:45.220><c> here</c><00:03:45.400><c> is</c><00:03:45.550><c> you</c><00:03:45.670><c> know</c>

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Hayek and the argument here is you know
 

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Hayek and the argument here is you know
we<00:03:46.000><c> have</c><00:03:46.150><c> all</c><00:03:46.330><c> these</c><00:03:46.480><c> rational</c><00:03:46.959><c> actors</c>

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we have all these rational actors
 

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we have all these rational actors
independently<00:03:48.220><c> moving</c><00:03:48.430><c> throughout</c><00:03:48.910><c> society</c>

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independently moving throughout society
 

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independently moving throughout society
without<00:03:49.959><c> any</c><00:03:50.110><c> kind</c><00:03:50.350><c> of</c><00:03:50.500><c> central</c><00:03:50.830><c> coordinating</c>

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without any kind of central coordinating
 

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without any kind of central coordinating
but<00:03:52.570><c> there's</c><00:03:52.750><c> also</c><00:03:52.900><c> an</c><00:03:53.050><c> entire</c><00:03:53.290><c> movement</c>

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but there's also an entire movement
 

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but there's also an entire movement
called<00:03:53.950><c> decentralized</c><00:03:54.610><c> socialism</c><00:03:55.300><c> and</c><00:03:55.510><c> this</c>

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called decentralized socialism and this
 

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called decentralized socialism and this
is<00:03:56.140><c> a</c><00:03:56.170><c> passage</c><00:03:56.560><c> from</c><00:03:56.650><c> an</c><00:03:56.800><c> essay</c><00:03:57.040><c> talking</c><00:03:57.459><c> about</c>

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is a passage from an essay talking about
 

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is a passage from an essay talking about
how<00:03:57.850><c> you</c><00:03:58.150><c> know</c><00:03:58.239><c> Mao</c><00:03:58.420><c> Mao</c><00:03:58.930><c> Zedong</c><00:03:59.200><c> and</c><00:03:59.800><c> the</c>

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how you know Mao Mao Zedong and the
 

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how you know Mao Mao Zedong and the
Cultural<00:04:00.519><c> Revolution</c><00:04:00.690><c> was</c><00:04:01.690><c> a</c><00:04:01.720><c> reaction</c><00:04:02.290><c> to</c>

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Cultural Revolution was a reaction to
 

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Cultural Revolution was a reaction to
the<00:04:02.830><c> centralization</c><00:04:03.220><c> of</c><00:04:03.670><c> Soviet</c><00:04:04.000><c> Russia</c><00:04:04.800><c> so</c>

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the centralization of Soviet Russia so
 

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the centralization of Soviet Russia so
really<00:04:06.010><c> a</c><00:04:06.040><c> dizzying</c><00:04:06.910><c> range</c><00:04:07.300><c> of</c><00:04:07.540><c> thinkers</c><00:04:07.900><c> have</c>

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really a dizzying range of thinkers have
 

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really a dizzying range of thinkers have
called<00:04:08.470><c> for</c><00:04:08.769><c> some</c><00:04:09.160><c> kind</c><00:04:09.640><c> of</c><00:04:09.850><c> decentralization</c>

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called for some kind of decentralization
 

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called for some kind of decentralization
and<00:04:11.920><c> of</c><00:04:12.040><c> course</c><00:04:12.250><c> that's</c><00:04:12.430><c> what</c><00:04:12.670><c> makes</c><00:04:12.850><c> the</c>

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and of course that's what makes the
 

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and of course that's what makes the
concept<00:04:13.269><c> so</c><00:04:13.840><c> interesting</c><00:04:15.000><c> kind</c><00:04:16.000><c> of</c><00:04:16.120><c> like</c>

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concept so interesting kind of like
 

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concept so interesting kind of like
universal

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universal
 

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universal
cick<00:04:17.259><c> income</c><00:04:17.620><c> it</c><00:04:17.889><c> has</c><00:04:18.069><c> this</c><00:04:18.310><c> fascinating</c>

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cick income it has this fascinating
 

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cick income it has this fascinating
cross<00:04:19.449><c> partisan</c><00:04:20.019><c> support</c><00:04:20.669><c> which</c><00:04:21.669><c> gives</c><00:04:21.909><c> it</c>

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cross partisan support which gives it
 

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cross partisan support which gives it
this<00:04:22.419><c> kind</c><00:04:22.689><c> of</c><00:04:22.840><c> gravitational</c><00:04:23.349><c> pull</c><00:04:23.889><c> it's</c>

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this kind of gravitational pull it's
 

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this kind of gravitational pull it's
like<00:04:24.879><c> a</c><00:04:24.909><c> dense</c><00:04:25.240><c> messy</c><00:04:25.870><c> knot</c><00:04:26.080><c> that's</c>

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like a dense messy knot that's
 

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like a dense messy knot that's
fascinating<00:04:27.280><c> to</c><00:04:27.310><c> untangle</c><00:04:30.330><c> so</c><00:04:31.330><c> we</c><00:04:31.449><c> may</c><00:04:31.569><c> not</c>

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fascinating to untangle so we may not
 

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fascinating to untangle so we may not
all<00:04:31.870><c> want</c><00:04:32.080><c> decentralization</c><00:04:32.949><c> for</c><00:04:33.490><c> the</c><00:04:33.759><c> same</c>

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all want decentralization for the same
 

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all want decentralization for the same
reason<00:04:34.740><c> and</c><00:04:35.740><c> I</c><00:04:36.129><c> can't</c><00:04:36.370><c> take</c><00:04:36.550><c> credit</c><00:04:36.639><c> for</c><00:04:36.909><c> this</c>

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reason and I can't take credit for this
 

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reason and I can't take credit for this
caption<00:04:37.449><c> but</c><00:04:37.629><c> I</c><00:04:37.659><c> also</c><00:04:37.870><c> don't</c><00:04:38.080><c> want</c><00:04:38.259><c> to</c><00:04:38.319><c> Doc's</c>

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caption but I also don't want to Doc's
 

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caption but I also don't want to Doc's
its<00:04:38.710><c> creator</c><00:04:39.180><c> I'll</c><00:04:40.180><c> let</c><00:04:40.360><c> you</c><00:04:40.569><c> all</c><00:04:40.659><c> interpret</c>

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its creator I'll let you all interpret
 

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its creator I'll let you all interpret
this<00:04:41.289><c> phenomenon</c><00:04:41.860><c> which</c><00:04:42.520><c> is</c><00:04:42.639><c> certainly</c><00:04:42.879><c> the</c>

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this phenomenon which is certainly the
 

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this phenomenon which is certainly the
case<00:04:43.060><c> that</c><00:04:43.270><c> we</c><00:04:43.599><c> have</c><00:04:43.719><c> competing</c><00:04:44.020><c> motivations</c>

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case that we have competing motivations
 

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case that we have competing motivations
you<00:04:45.879><c> might</c><00:04:46.030><c> say</c><00:04:46.300><c> it's</c><00:04:46.599><c> a</c><00:04:46.689><c> success</c><00:04:46.840><c> or</c><00:04:47.500><c> weakness</c>

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you might say it's a success or weakness
 

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you might say it's a success or weakness
of<00:04:48.280><c> the</c><00:04:48.490><c> decentralization</c><00:04:49.060><c> movement</c><00:04:49.539><c> you</c>

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of the decentralization movement you
 

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of the decentralization movement you
might<00:04:50.680><c> say</c><00:04:50.889><c> we've</c><00:04:51.069><c> decentralized</c><00:04:51.669><c> our</c>

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might say we've decentralized our
 

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might say we've decentralized our
motivations<00:04:53.639><c> alright</c><00:04:54.639><c> so</c><00:04:54.819><c> it</c><00:04:55.180><c> may</c><00:04:55.360><c> be</c>

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motivations alright so it may be
 

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motivations alright so it may be
difficult<00:04:55.960><c> to</c><00:04:56.289><c> define</c><00:04:56.770><c> decentralization</c><00:04:57.639><c> but</c>

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difficult to define decentralization but
 

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difficult to define decentralization but
can<00:04:59.080><c> you</c><00:04:59.199><c> measure</c><00:04:59.349><c> it</c><00:05:00.419><c> this</c><00:05:01.419><c> is</c><00:05:01.539><c> one</c><00:05:01.690><c> way</c>

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can you measure it this is one way
 

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can you measure it this is one way
people<00:05:02.020><c> often</c><00:05:02.500><c> like</c><00:05:02.680><c> to</c><00:05:02.969><c> it's</c><00:05:03.969><c> called</c><00:05:04.180><c> the</c>

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people often like to it's called the
 

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people often like to it's called the
Lorenz<00:05:04.659><c> curve</c><00:05:04.750><c> or</c><00:05:05.229><c> Gini</c><00:05:05.590><c> coefficient</c><00:05:06.219><c> and</c>

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Lorenz curve or Gini coefficient and
 

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Lorenz curve or Gini coefficient and
it's<00:05:07.120><c> often</c><00:05:07.419><c> used</c><00:05:07.539><c> to</c><00:05:07.690><c> measure</c><00:05:07.810><c> the</c>

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it's often used to measure the
 

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it's often used to measure the
decentralization<00:05:08.800><c> of</c><00:05:09.009><c> wealth</c><00:05:09.449><c> so</c><00:05:10.449><c> there</c><00:05:10.599><c> are</c>

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decentralization of wealth so there are
 

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decentralization of wealth so there are
a<00:05:10.719><c> few</c><00:05:10.779><c> components</c><00:05:11.319><c> of</c><00:05:11.440><c> this</c><00:05:11.560><c> graph</c><00:05:11.800><c> and</c><00:05:12.159><c> one</c>

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a few components of this graph and one
 

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a few components of this graph and one
of<00:05:12.669><c> them</c><00:05:12.819><c> is</c><00:05:12.969><c> this</c><00:05:13.090><c> straight</c><00:05:13.690><c> line</c><00:05:13.719><c> that</c><00:05:14.529><c> we</c>

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of them is this straight line that we
 

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of them is this straight line that we
call<00:05:14.800><c> the</c><00:05:14.949><c> line</c><00:05:15.129><c> of</c><00:05:15.279><c> equality</c><00:05:15.729><c> and</c><00:05:16.000><c> this</c><00:05:16.719><c> is</c>

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call the line of equality and this is
 

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call the line of equality and this is
the<00:05:17.050><c> curve</c><00:05:17.500><c> that</c><00:05:17.529><c> we</c><00:05:17.979><c> would</c><00:05:18.129><c> get</c><00:05:18.279><c> if</c><00:05:18.879><c> the</c>

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the curve that we would get if the
 

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the curve that we would get if the
distribution<00:05:19.539><c> of</c><00:05:19.629><c> wealth</c><00:05:19.810><c> in</c><00:05:20.110><c> a</c><00:05:20.169><c> system</c><00:05:20.500><c> were</c>

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distribution of wealth in a system were
 

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distribution of wealth in a system were
totally<00:05:21.069><c> uniform</c><00:05:21.310><c> so</c><00:05:22.060><c> if</c><00:05:22.180><c> 10%</c><00:05:22.389><c> of</c><00:05:22.690><c> the</c>

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totally uniform so if 10% of the
 

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totally uniform so if 10% of the
population<00:05:22.870><c> had</c><00:05:23.469><c> ten</c><00:05:23.680><c> percent</c><00:05:23.949><c> of</c><00:05:24.009><c> the</c><00:05:24.069><c> wealth</c>

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population had ten percent of the wealth
 

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population had ten percent of the wealth
fifty<00:05:24.729><c> percent</c><00:05:25.000><c> had</c><00:05:25.300><c> 50</c><00:05:25.629><c> percent</c><00:05:25.990><c> etc</c><00:05:26.710><c> etc</c><00:05:27.419><c> the</c>

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fifty percent had 50 percent etc etc the
 

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fifty percent had 50 percent etc etc the
Lorenz<00:05:28.719><c> curve</c><00:05:28.810><c> is</c><00:05:29.110><c> what</c><00:05:29.229><c> we</c><00:05:29.319><c> get</c><00:05:29.500><c> when</c><00:05:29.710><c> we</c><00:05:29.919><c> plot</c>

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Lorenz curve is what we get when we plot
 

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Lorenz curve is what we get when we plot
the<00:05:30.340><c> actuals</c><00:05:30.789><c> and</c><00:05:31.029><c> the</c><00:05:31.629><c> Gini</c><00:05:31.810><c> coefficient</c><00:05:32.409><c> is</c>

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the actuals and the Gini coefficient is
 

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the actuals and the Gini coefficient is
the<00:05:32.710><c> difference</c><00:05:33.009><c> between</c><00:05:33.190><c> these</c><00:05:33.460><c> two</c><00:05:33.610><c> lines</c>

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this<00:05:36.849><c> is</c><00:05:36.909><c> from</c><00:05:37.150><c> an</c><00:05:37.270><c> excellent</c><00:05:37.750><c> recent</c><00:05:38.139><c> article</c>

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this is from an excellent recent article
 

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this is from an excellent recent article
called<00:05:38.800><c> quantifying</c><00:05:39.430><c> decentralization</c><00:05:40.270><c> by</c>

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called quantifying decentralization by
 

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called quantifying decentralization by
Balaji<00:05:41.349><c> Srinivasan</c><00:05:41.919><c> and</c><00:05:42.819><c> he</c><00:05:42.969><c> took</c><00:05:43.180><c> the</c><00:05:43.449><c> top</c>

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Balaji Srinivasan and he took the top
 

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Balaji Srinivasan and he took the top
100<00:05:44.259><c> cryptocurrencies</c><00:05:44.710><c> and</c><00:05:45.009><c> he</c><00:05:45.460><c> plotted</c><00:05:45.879><c> them</c>

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100 cryptocurrencies and he plotted them
 

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100 cryptocurrencies and he plotted them
on<00:05:46.270><c> the</c><00:05:46.389><c> Lorenz</c><00:05:46.629><c> curve</c><00:05:46.719><c> and</c><00:05:47.229><c> you</c><00:05:47.440><c> will</c><00:05:47.560><c> see</c>

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on the Lorenz curve and you will see
 

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on the Lorenz curve and you will see
that<00:05:47.830><c> they</c><00:05:47.949><c> are</c><00:05:47.979><c> very</c><00:05:48.400><c> far</c><00:05:48.639><c> away</c><00:05:48.729><c> from</c><00:05:48.879><c> the</c>

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that they are very far away from the
 

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that they are very far away from the
line<00:05:49.629><c> of</c><00:05:49.659><c> perfect</c><00:05:50.110><c> equality</c><00:05:51.509><c> and</c><00:05:52.509><c> again</c><00:05:52.870><c> from</c>

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line of perfect equality and again from
 

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line of perfect equality and again from
quantified<00:05:53.979><c> decentralization</c><00:05:55.620><c> Srinivasan</c>

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quantified decentralization Srinivasan
 

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quantified decentralization Srinivasan
describes<00:05:56.979><c> how</c><00:05:57.190><c> a</c><00:05:57.219><c> decentralized</c><00:05:58.029><c> system</c><00:05:58.210><c> is</c>

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describes how a decentralized system is
 

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describes how a decentralized system is
composed<00:05:59.110><c> of</c><00:05:59.469><c> a</c><00:05:59.560><c> set</c><00:05:59.770><c> of</c><00:05:59.979><c> decentralized</c><00:06:00.639><c> sub</c>

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composed of a set of decentralized sub
 

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composed of a set of decentralized sub
systems<00:06:01.919><c> so</c><00:06:02.919><c> we</c><00:06:03.039><c> have</c><00:06:03.190><c> you</c><00:06:03.279><c> know</c><00:06:03.400><c> miners</c><00:06:03.819><c> we</c>

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systems so we have you know miners we
 

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systems so we have you know miners we
have<00:06:04.240><c> the</c><00:06:04.330><c> developer</c><00:06:04.779><c> community</c><00:06:04.900><c> we</c><00:06:05.469><c> have</c><00:06:05.620><c> the</c>

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have the developer community we have the
 

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have the developer community we have the
concept<00:06:06.009><c> of</c><00:06:06.129><c> geographical</c><00:06:06.849><c> decentralization</c>

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concept of geographical decentralization
 

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concept of geographical decentralization
or<00:06:08.139><c> governmental</c><00:06:08.680><c> decentralization</c><00:06:09.839><c> and</c><00:06:10.839><c> I</c>

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or governmental decentralization and I
 

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or governmental decentralization and I
think<00:06:11.139><c> maybe</c><00:06:11.259><c> it's</c><00:06:11.589><c> helpful</c><00:06:11.830><c> here</c><00:06:12.219><c> to</c><00:06:12.490><c> borrow</c>

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think maybe it's helpful here to borrow
 

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think maybe it's helpful here to borrow
the<00:06:12.940><c> term</c><00:06:13.180><c> intersectional</c><00:06:14.050><c> and</c><00:06:14.259><c> to</c><00:06:14.650><c> think</c>

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the term intersectional and to think
 

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the term intersectional and to think
about<00:06:15.039><c> intersectional</c><00:06:15.819><c> decentralization</c><00:06:16.599><c> if</c>

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about intersectional decentralization if
 

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about intersectional decentralization if
we<00:06:17.800><c> imagine</c><00:06:18.279><c> decentralization</c><00:06:19.270><c> as</c><00:06:19.750><c> like</c><00:06:19.990><c> this</c>

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we imagine decentralization as like this
 

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we imagine decentralization as like this
Cartesian<00:06:20.889><c> plane</c><00:06:21.099><c> of</c><00:06:21.669><c> intersecting</c>

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Cartesian plane of intersecting
 

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Cartesian plane of intersecting
decentralization<00:06:23.349><c> x'</c>

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decentralization x'
 

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decentralization x'
will<00:06:24.550><c> find</c><00:06:24.759><c> that</c><00:06:24.879><c> we</c><00:06:25.000><c> can't</c><00:06:25.240><c> get</c><00:06:25.419><c> the</c><00:06:25.630><c> complete</c>

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will find that we can't get the complete
 

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will find that we can't get the complete
picture<00:06:26.169><c> without</c><00:06:26.680><c> considering</c><00:06:27.370><c> all</c><00:06:27.580><c> of</c><00:06:27.729><c> them</c>

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picture without considering all of them
 

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picture without considering all of them
that<00:06:28.630><c> none</c><00:06:28.810><c> of</c><00:06:28.840><c> them</c><00:06:29.080><c> really</c><00:06:29.320><c> make</c><00:06:29.440><c> sense</c><00:06:29.680><c> to</c>

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that none of them really make sense to
 

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that none of them really make sense to
discuss<00:06:30.400><c> in</c><00:06:30.580><c> the</c><00:06:30.640><c> absence</c><00:06:31.060><c> of</c><00:06:31.180><c> others</c><00:06:32.820><c> in</c><00:06:33.820><c> the</c>

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discuss in the absence of others in the
 

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discuss in the absence of others in the
blockchain<00:06:34.180><c> world</c><00:06:34.540><c> we</c><00:06:34.690><c> talk</c><00:06:34.810><c> about</c><00:06:35.080><c> the</c>

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blockchain world we talk about the
 

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blockchain world we talk about the
scalability<00:06:35.740><c> trilemma</c><00:06:36.100><c> so</c><00:06:36.850><c> this</c><00:06:36.970><c> is</c><00:06:37.090><c> from</c><00:06:37.180><c> the</c>

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scalability trilemma so this is from the
 

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scalability trilemma so this is from the
etherion<00:06:37.660><c> wiki</c><00:06:37.900><c> and</c><00:06:38.050><c> you</c><00:06:38.110><c> may</c><00:06:38.260><c> be</c><00:06:38.320><c> familiar</c>

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etherion wiki and you may be familiar
 

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etherion wiki and you may be familiar
with<00:06:38.800><c> it</c><00:06:39.330><c> when</c><00:06:40.330><c> designing</c><00:06:40.630><c> a</c><00:06:40.780><c> blockchain</c>

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with it when designing a blockchain
 

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with it when designing a blockchain
these<00:06:41.440><c> are</c><00:06:41.560><c> areas</c><00:06:41.830><c> you</c><00:06:41.860><c> have</c><00:06:41.980><c> to</c><00:06:42.220><c> make</c>

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these are areas you have to make
 

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these are areas you have to make
trade-offs<00:06:42.700><c> within</c><00:06:43.270><c> it's</c><00:06:43.570><c> sort</c><00:06:43.750><c> of</c><00:06:43.810><c> like</c><00:06:43.930><c> a</c>

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trade-offs within it's sort of like a
 

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trade-offs within it's sort of like a
cap<00:06:44.380><c> theorem</c><00:06:44.620><c> for</c><00:06:44.980><c> block</c><00:06:45.130><c> chains</c><00:06:45.540><c> and</c><00:06:46.540><c> notably</c>

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cap theorem for block chains and notably
 

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cap theorem for block chains and notably
one<00:06:47.080><c> of</c><00:06:47.230><c> them</c><00:06:47.350><c> is</c><00:06:47.470><c> decentralization</c><00:06:48.100><c> with</c><00:06:48.670><c> its</c>

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one of them is decentralization with its
 

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one of them is decentralization with its
own<00:06:49.000><c> very</c><00:06:49.330><c> specific</c><00:06:49.570><c> definition</c><00:06:50.440><c> and</c><00:06:50.680><c> here</c><00:06:51.130><c> it</c>

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own very specific definition and here it
 

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own very specific definition and here it
is<00:06:51.400><c> that</c><00:06:51.610><c> each</c><00:06:51.850><c> node</c><00:06:52.120><c> on</c><00:06:52.150><c> the</c><00:06:52.300><c> network</c><00:06:52.390><c> should</c>

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is that each node on the network should
 

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is that each node on the network should
not<00:06:53.110><c> have</c><00:06:53.260><c> to</c><00:06:53.380><c> have</c><00:06:53.560><c> you</c><00:06:54.010><c> know</c><00:06:54.100><c> too</c><00:06:54.610><c> much</c>

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not have to have you know too much
 

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not have to have you know too much
compute<00:06:55.210><c> resources</c><00:06:55.330><c> available</c><00:06:56.050><c> to</c><00:06:56.110><c> it</c><00:06:56.380><c> maybe</c>

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compute resources available to it maybe
 

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compute resources available to it maybe
a<00:06:56.770><c> laptop</c><00:06:58.290><c> scalability</c><00:06:59.290><c> is</c><00:06:59.350><c> one</c><00:06:59.560><c> and</c><00:06:59.890><c> here</c>

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a laptop scalability is one and here
 

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a laptop scalability is one and here
it's<00:07:00.400><c> defined</c><00:07:00.760><c> as</c><00:07:00.910><c> the</c><00:07:01.120><c> network</c><00:07:01.450><c> being</c><00:07:01.750><c> able</c>

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it's defined as the network being able
 

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it's defined as the network being able
to<00:07:01.990><c> process</c><00:07:02.260><c> more</c><00:07:02.740><c> transactions</c><00:07:03.370><c> than</c><00:07:03.490><c> any</c>

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to process more transactions than any
 

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to process more transactions than any
individual<00:07:04.180><c> node</c><00:07:04.620><c> and</c><00:07:05.620><c> security</c><00:07:06.220><c> which</c><00:07:06.490><c> is</c>

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individual node and security which is
 

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individual node and security which is
the<00:07:06.850><c> amount</c><00:07:07.060><c> of</c><00:07:07.180><c> compute</c><00:07:07.510><c> resources</c><00:07:07.570><c> an</c>

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the amount of compute resources an
 

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the amount of compute resources an
attacker<00:07:08.260><c> needs</c><00:07:08.500><c> to</c><00:07:08.680><c> have</c><00:07:08.860><c> to</c><00:07:09.310><c> successfully</c>

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attacker needs to have to successfully
 

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attacker needs to have to successfully
attack<00:07:10.090><c> the</c><00:07:10.210><c> network</c><00:07:11.700><c> so</c><00:07:12.700><c> of</c><00:07:12.760><c> course</c>

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attack the network so of course
 

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attack the network so of course
decentralization<00:07:13.570><c> is</c><00:07:13.840><c> on</c><00:07:13.960><c> this</c><00:07:14.110><c> list</c><00:07:14.350><c> and</c><00:07:15.150><c> ok</c>

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decentralization is on this list and ok
 

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decentralization is on this list and ok
way<00:07:16.270><c> to</c><00:07:16.360><c> think</c><00:07:16.510><c> of</c><00:07:16.600><c> that</c><00:07:16.660><c> is</c><00:07:16.990><c> as</c><00:07:17.110><c> a</c><00:07:17.140><c> stat</c><00:07:17.560><c> that</c>

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way to think of that is as a stat that
 

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way to think of that is as a stat that
we<00:07:18.250><c> could</c><00:07:18.430><c> lower</c><00:07:18.640><c> in</c><00:07:19.030><c> order</c><00:07:19.210><c> to</c><00:07:19.360><c> improve</c><00:07:19.750><c> these</c>

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we could lower in order to improve these
 

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we could lower in order to improve these
other<00:07:20.170><c> qualities</c><00:07:20.680><c> so</c><00:07:21.640><c> when</c><00:07:21.730><c> we</c><00:07:21.820><c> talk</c><00:07:22.000><c> about</c>

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other qualities so when we talk about
 

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other qualities so when we talk about
scalability<00:07:22.840><c> in</c><00:07:22.930><c> the</c><00:07:23.020><c> blockchain</c><00:07:23.230><c> world</c><00:07:23.620><c> it's</c>

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scalability in the blockchain world it's
 

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scalability in the blockchain world it's
almost<00:07:24.700><c> a</c><00:07:24.910><c> catechism</c><00:07:25.720><c> to</c><00:07:26.290><c> compare</c><00:07:26.650><c> it</c><00:07:26.740><c> to</c><00:07:26.800><c> the</c>

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almost a catechism to compare it to the
 

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almost a catechism to compare it to the
transactions<00:07:27.490><c> per</c><00:07:27.640><c> second</c><00:07:27.970><c> if</c><00:07:28.060><c> something</c>

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transactions per second if something
 

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transactions per second if something
like<00:07:28.480><c> Visa</c><00:07:28.750><c> visa</c><00:07:29.710><c> process</c><00:07:30.190><c> is</c><00:07:30.340><c> 24,000</c>

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like Visa visa process is 24,000
 

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like Visa visa process is 24,000
transactions<00:07:31.660><c> per</c><00:07:31.810><c> second</c><00:07:32.430><c> another</c><00:07:33.430><c> way</c><00:07:33.610><c> to</c>

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transactions per second another way to
 

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transactions per second another way to
understand<00:07:34.120><c> that</c><00:07:34.240><c> statement</c><00:07:34.750><c> is</c><00:07:34.900><c> that</c><00:07:35.170><c> visa</c>

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understand that statement is that visa
 

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understand that statement is that visa
has<00:07:35.560><c> dropped</c><00:07:35.860><c> its</c><00:07:36.040><c> decentralization</c><00:07:36.730><c> stat</c><00:07:37.120><c> to</c>

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has dropped its decentralization stat to
 

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has dropped its decentralization stat to
zero<00:07:37.570><c> and</c><00:07:37.810><c> max</c><00:07:38.290><c> out</c><00:07:38.470><c> its</c><00:07:38.620><c> scalability</c><00:07:39.960><c> um</c><00:07:40.960><c> so</c>

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zero and max out its scalability um so
 

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zero and max out its scalability um so
in<00:07:41.710><c> conclusion</c><00:07:41.860><c> here</c><00:07:42.610><c> are</c><00:07:42.700><c> some</c><00:07:42.850><c> questions</c><00:07:43.240><c> in</c>

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in conclusion here are some questions in
 

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in conclusion here are some questions in
rapid-fire<00:07:44.460><c> do</c><00:07:45.460><c> we</c><00:07:45.610><c> want</c><00:07:45.820><c> decentralization</c><00:07:46.660><c> I</c>

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rapid-fire do we want decentralization I
 

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rapid-fire do we want decentralization I
think<00:07:47.770><c> this</c><00:07:47.920><c> deserves</c><00:07:48.280><c> to</c><00:07:48.640><c> be</c><00:07:48.730><c> an</c><00:07:48.820><c> open</c>

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think this deserves to be an open
 

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think this deserves to be an open
question<00:07:49.180><c> or</c><00:07:49.690><c> at</c><00:07:49.780><c> least</c><00:07:49.930><c> one</c><00:07:50.140><c> we</c><00:07:50.290><c> don't</c><00:07:50.470><c> forget</c>

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question or at least one we don't forget
 

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question or at least one we don't forget
that<00:07:51.130><c> it's</c><00:07:51.250><c> possible</c><00:07:51.790><c> to</c><00:07:51.970><c> ask</c><00:07:52.560><c> and</c><00:07:53.560><c> if</c><00:07:53.650><c> we</c>

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that it's possible to ask and if we
 

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that it's possible to ask and if we
accept<00:07:54.220><c> that</c><00:07:54.340><c> there's</c><00:07:54.580><c> no</c><00:07:54.760><c> canonical</c>

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accept that there's no canonical
 

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accept that there's no canonical
decentralization<00:07:56.080><c> or</c><00:07:56.530><c> no</c><00:07:56.710><c> perfect</c>

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decentralization or no perfect
 

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decentralization or no perfect
decentralization<00:07:58.140><c> then</c><00:07:59.140><c> which</c><00:07:59.320><c> one</c><00:07:59.530><c> do</c><00:07:59.710><c> we</c>

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decentralization then which one do we
 

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decentralization then which one do we
want<00:08:01.110><c> are</c><00:08:02.110><c> there</c><00:08:02.320><c> limits</c><00:08:02.590><c> to</c>

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want are there limits to
 

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want are there limits to
decentralization<00:08:03.430><c> and</c><00:08:03.850><c> if</c><00:08:04.180><c> so</c><00:08:04.450><c> what</c><00:08:05.140><c> are</c><00:08:05.170><c> they</c>

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decentralization and if so what are they
 

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decentralization and if so what are they
right<00:08:06.640><c> now</c><00:08:06.670><c> we</c><00:08:06.850><c> talk</c><00:08:07.180><c> a</c><00:08:07.210><c> lot</c><00:08:07.390><c> about</c>

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right now we talk a lot about
 

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right now we talk a lot about
decentralizing<00:08:08.230><c> the</c><00:08:08.260><c> network</c><00:08:08.680><c> and</c>

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decentralizing the network and
 

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decentralizing the network and
application<00:08:09.790><c> layer</c><00:08:09.970><c> but</c><00:08:10.810><c> how</c><00:08:10.930><c> often</c><00:08:11.080><c> do</c><00:08:11.320><c> we</c>

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application layer but how often do we
 

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application layer but how often do we
consider<00:08:11.650><c> the</c><00:08:11.890><c> centralization</c><00:08:12.580><c> of</c><00:08:12.760><c> the</c>

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consider the centralization of the
 

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consider the centralization of the
manufacturing<00:08:13.390><c> pipeline</c><00:08:13.870><c> or</c><00:08:14.200><c> of</c><00:08:14.920><c> supply</c>

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manufacturing pipeline or of supply
 

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manufacturing pipeline or of supply
chains<00:08:15.750><c> how</c><00:08:16.750><c> far</c><00:08:17.050><c> down</c><00:08:17.350><c> the</c><00:08:17.800><c> proverbial</c><00:08:18.100><c> stack</c>

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chains how far down the proverbial stack
 

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chains how far down the proverbial stack
do<00:08:19.120><c> we</c><00:08:19.240><c> care</c><00:08:19.630><c> about</c><00:08:19.810><c> decentralization</c><00:08:21.240><c> and</c>

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do we care about decentralization and
 

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do we care about decentralization and
finally<00:08:22.810><c> a</c><00:08:22.840><c> recursive</c><00:08:23.320><c> question</c><00:08:23.940><c> can</c><00:08:24.940><c> we</c>

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finally a recursive question can we
 

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finally a recursive question can we
decentralize<00:08:25.630><c> the</c><00:08:25.810><c> building</c><00:08:26.170><c> of</c>

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decentralize the building of
 

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decentralize the building of
decentralized<00:08:27.130><c> networks</c>

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decentralized networks
 

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decentralized networks
I<00:08:28.420><c> see</c><00:08:28.860><c> specialization</c><00:08:29.860><c> and</c><00:08:30.160><c> centralization</c>

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I see specialization and centralization
 

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I see specialization and centralization
is<00:08:31.210><c> tightly</c><00:08:31.630><c> connected</c><00:08:31.930><c> concepts</c><00:08:32.650><c> and</c><00:08:33.010><c> a</c>

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is tightly connected concepts and a
 

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is tightly connected concepts and a
technical<00:08:33.760><c> expert</c><00:08:34.180><c> is</c><00:08:34.390><c> often</c><00:08:34.990><c> a</c><00:08:35.229><c> central</c>

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technical expert is often a central
 

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technical expert is often a central
point<00:08:35.740><c> of</c><00:08:35.830><c> failure</c><00:08:35.890><c> for</c><00:08:36.340><c> a</c><00:08:36.520><c> decentralized</c>

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point of failure for a decentralized
 

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point of failure for a decentralized
network

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network
 

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network
and<00:08:39.510><c> if</c><00:08:39.810><c> pursuit</c><00:08:40.170><c> of</c><00:08:40.260><c> power</c><00:08:40.410><c> tends</c><00:08:40.830><c> to</c>

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and if pursuit of power tends to
 

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and if pursuit of power tends to
centralize<00:08:41.430><c> the</c><00:08:41.550><c> system</c><00:08:41.880><c> how</c><00:08:42.540><c> can</c><00:08:42.720><c> we</c><00:08:42.810><c> prevent</c>

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centralize the system how can we prevent
 

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centralize the system how can we prevent
this<00:08:43.260><c> from</c><00:08:43.470><c> happening</c><00:08:43.560><c> to</c><00:08:44.160><c> our</c><00:08:44.280><c> networks</c><00:08:44.580><c> over</c>

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this from happening to our networks over
 

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this from happening to our networks over
time<00:08:45.950><c> what</c><00:08:46.950><c> underlines</c><00:08:47.370><c> all</c><00:08:47.580><c> of</c><00:08:47.760><c> this</c><00:08:47.910><c> that</c>

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time what underlines all of this that
 

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time what underlines all of this that
there<00:08:48.840><c> are</c><00:08:48.930><c> many</c><00:08:49.170><c> possible</c><00:08:49.860><c> decentralization</c>

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there are many possible decentralization
 

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there are many possible decentralization
and<00:08:50.760><c> perhaps</c><00:08:51.330><c> no</c><00:08:51.810><c> perfect</c><00:08:52.080><c> one</c><00:08:52.880><c> but</c><00:08:53.880><c> all</c><00:08:54.060><c> of</c>

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and perhaps no perfect one but all of
 

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and perhaps no perfect one but all of
them<00:08:54.450><c> may</c><00:08:54.810><c> prove</c><00:08:55.050><c> meaningless</c><00:08:55.590><c> or</c><00:08:55.920><c> become</c>

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them may prove meaningless or become
 

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them may prove meaningless or become
just<00:08:56.970><c> ideological</c><00:08:57.660><c> background</c><00:08:57.810><c> noise</c><00:08:58.230><c> if</c><00:08:58.650><c> not</c>

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just ideological background noise if not
 

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just ideological background noise if not
carefully<00:08:59.880><c> and</c><00:09:00.120><c> thoughtfully</c><00:09:00.540><c> examined</c><00:09:01.790><c> so</c>

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carefully and thoughtfully examined so
 

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carefully and thoughtfully examined so
thank<00:09:03.000><c> you</c><00:09:03.120><c> my</c><00:09:03.870><c> name</c><00:09:03.930><c> is</c><00:09:04.050><c> Sara</c><00:09:04.290><c> again</c><00:09:04.740><c> that's</c>

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thank you my name is Sara again that's
 

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thank you my name is Sara again that's
my<00:09:05.520><c> handle</c><00:09:05.820><c> and</c><00:09:06.030><c> this</c><00:09:06.120><c> will</c><00:09:06.270><c> YouTube</c><00:09:06.510><c> link</c><00:09:06.690><c> to</c>

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my handle and this will YouTube link to
 

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my handle and this will YouTube link to
the<00:09:07.110><c> longer</c><00:09:07.470><c> version</c><00:09:07.590><c> of</c><00:09:07.830><c> this</c><00:09:07.920><c> presentation</c>

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the longer version of this presentation
 

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the longer version of this presentation
thank<00:09:09.030><c> you</c><00:09:09.120><c> all</c><00:09:09.180><c> so</c><00:09:09.210><c> much</c>

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you