WEBVTT Kind: captions Language: en 00:00:00.240 --> 00:00:02.379 align:start position:0% the<00:00:00.840> problem<00:00:01.319> we're<00:00:01.410> gonna<00:00:01.500> be<00:00:01.680> discussing<00:00:01.770> is 00:00:02.379 --> 00:00:02.389 align:start position:0% the problem we're gonna be discussing is 00:00:02.389 --> 00:00:04.999 align:start position:0% the problem we're gonna be discussing is what<00:00:03.389> needs<00:00:03.570> to<00:00:03.659> happen<00:00:03.750> for<00:00:04.049> smart<00:00:04.440> contracts 00:00:04.999 --> 00:00:05.009 align:start position:0% what needs to happen for smart contracts 00:00:05.009 --> 00:00:07.579 align:start position:0% what needs to happen for smart contracts to<00:00:05.160> make<00:00:05.279> meaningful<00:00:05.720> events<00:00:06.720> happen<00:00:07.440> in<00:00:07.529> the 00:00:07.579 --> 00:00:07.589 align:start position:0% to make meaningful events happen in the 00:00:07.589 --> 00:00:09.830 align:start position:0% to make meaningful events happen in the real<00:00:07.770> world<00:00:08.010> and<00:00:08.309> how<00:00:08.820> those<00:00:09.000> smart<00:00:09.269> contracts 00:00:09.830 --> 00:00:09.840 align:start position:0% real world and how those smart contracts 00:00:09.840 --> 00:00:11.540 align:start position:0% real world and how those smart contracts can<00:00:10.050> know<00:00:10.260> that<00:00:10.500> contractual<00:00:11.040> performance 00:00:11.540 --> 00:00:11.550 align:start position:0% can know that contractual performance 00:00:11.550 --> 00:00:14.120 align:start position:0% can know that contractual performance has<00:00:11.670> happened<00:00:12.349> this<00:00:13.349> is<00:00:13.500> really<00:00:13.710> important 00:00:14.120 --> 00:00:14.130 align:start position:0% has happened this is really important 00:00:14.130 --> 00:00:16.189 align:start position:0% has happened this is really important because<00:00:14.280> without<00:00:14.940> contracts<00:00:15.750> knowing<00:00:16.020> what's 00:00:16.189 --> 00:00:16.199 align:start position:0% because without contracts knowing what's 00:00:16.199 --> 00:00:18.260 align:start position:0% because without contracts knowing what's going<00:00:16.410> on<00:00:16.529> in<00:00:16.619> the<00:00:16.680> real<00:00:16.830> world<00:00:17.039> and<00:00:17.369> without 00:00:18.260 --> 00:00:18.270 align:start position:0% going on in the real world and without 00:00:18.270 --> 00:00:22.040 align:start position:0% going on in the real world and without contracts<00:00:18.869> being<00:00:19.500> able<00:00:19.680> to<00:00:20.420> effect<00:00:21.420> real<00:00:21.630> real 00:00:22.040 --> 00:00:22.050 align:start position:0% contracts being able to effect real real 00:00:22.050 --> 00:00:23.960 align:start position:0% contracts being able to effect real real events<00:00:22.500> they're<00:00:22.890> limited<00:00:23.519> to<00:00:23.550> tokenization 00:00:23.960 --> 00:00:23.970 align:start position:0% events they're limited to tokenization 00:00:23.970 --> 00:00:26.630 align:start position:0% events they're limited to tokenization and<00:00:24.680> they<00:00:25.680> don't<00:00:25.890> really<00:00:26.130> reach<00:00:26.279> their<00:00:26.460> full 00:00:26.630 --> 00:00:26.640 align:start position:0% and they don't really reach their full 00:00:26.640 --> 00:00:30.230 align:start position:0% and they don't really reach their full potential<00:00:26.910> in<00:00:27.210> our<00:00:27.300> opinion<00:00:27.720> so<00:00:28.710> to<00:00:29.670> grasp 00:00:30.230 --> 00:00:30.240 align:start position:0% potential in our opinion so to grasp 00:00:30.240 --> 00:00:33.380 align:start position:0% potential in our opinion so to grasp kind<00:00:30.570> of<00:00:30.660> the<00:00:30.779> full<00:00:31.279> value<00:00:32.279> we<00:00:32.460> see<00:00:32.489> in<00:00:32.940> solving 00:00:33.380 --> 00:00:33.390 align:start position:0% kind of the full value we see in solving 00:00:33.390 --> 00:00:35.420 align:start position:0% kind of the full value we see in solving this<00:00:33.480> problem<00:00:33.930> I<00:00:34.110> think<00:00:34.649> it's<00:00:34.800> useful<00:00:34.950> to<00:00:35.280> take 00:00:35.420 --> 00:00:35.430 align:start position:0% this problem I think it's useful to take 00:00:35.430 --> 00:00:38.119 align:start position:0% this problem I think it's useful to take a<00:00:35.460> look<00:00:35.700> at<00:00:35.790> this<00:00:35.910> from<00:00:36.469> from<00:00:37.469> a<00:00:37.590> historical 00:00:38.119 --> 00:00:38.129 align:start position:0% a look at this from from a historical 00:00:38.129 --> 00:00:41.660 align:start position:0% a look at this from from a historical context<00:00:38.640> so<00:00:39.300> from<00:00:39.899> historical<00:00:40.350> context<00:00:40.890> we 00:00:41.660 --> 00:00:41.670 align:start position:0% context so from historical context we 00:00:41.670 --> 00:00:43.670 align:start position:0% context so from historical context we all<00:00:41.879> started<00:00:42.570> out<00:00:42.660> with<00:00:42.899> kind<00:00:43.290> of<00:00:43.379> multi 00:00:43.670 --> 00:00:43.680 align:start position:0% all started out with kind of multi 00:00:43.680 --> 00:00:45.380 align:start position:0% all started out with kind of multi signature<00:00:44.160> as<00:00:44.399> the<00:00:44.789> model<00:00:45.030> for<00:00:45.059> smart 00:00:45.380 --> 00:00:45.390 align:start position:0% signature as the model for smart 00:00:45.390 --> 00:00:48.200 align:start position:0% signature as the model for smart contracts<00:00:46.129> back<00:00:47.129> when<00:00:47.370> you<00:00:47.610> know<00:00:47.700> basically 00:00:48.200 --> 00:00:48.210 align:start position:0% contracts back when you know basically 00:00:48.210 --> 00:00:50.930 align:start position:0% contracts back when you know basically Bitcoin<00:00:48.629> existed<00:00:49.079> then<00:00:49.770> we<00:00:49.920> moved<00:00:50.219> to<00:00:50.489> a 00:00:50.930 --> 00:00:50.940 align:start position:0% Bitcoin existed then we moved to a 00:00:50.940 --> 00:00:54.200 align:start position:0% Bitcoin existed then we moved to a protocol<00:00:51.570> level<00:00:52.079> or<00:00:52.469> op<00:00:52.680> code<00:00:53.010> level<00:00:53.280> version 00:00:54.200 --> 00:00:54.210 align:start position:0% protocol level or op code level version 00:00:54.210 --> 00:00:56.479 align:start position:0% protocol level or op code level version of<00:00:54.420> smart<00:00:54.690> contracts<00:00:55.320> where<00:00:55.649> smart<00:00:55.949> contracts 00:00:56.479 --> 00:00:56.489 align:start position:0% of smart contracts where smart contracts 00:00:56.489 --> 00:00:58.220 align:start position:0% of smart contracts where smart contracts were<00:00:56.610> written<00:00:56.879> into<00:00:57.090> a<00:00:57.120> protocol<00:00:57.600> in<00:00:57.840> the<00:00:58.020> form 00:00:58.220 --> 00:00:58.230 align:start position:0% were written into a protocol in the form 00:00:58.230 --> 00:01:00.650 align:start position:0% were written into a protocol in the form of<00:00:58.289> up<00:00:58.609> and<00:00:59.609> so<00:00:59.789> you<00:00:59.850> couldn't<00:01:00.210> really<00:01:00.329> go 00:01:00.650 --> 00:01:00.660 align:start position:0% of up and so you couldn't really go 00:01:00.660 --> 00:01:03.080 align:start position:0% of up and so you couldn't really go beyond<00:01:01.199> what<00:01:01.949> the<00:01:02.070> protocol<00:01:02.520> allowed<00:01:02.910> you<00:01:03.059> to 00:01:03.080 --> 00:01:03.090 align:start position:0% beyond what the protocol allowed you to 00:01:03.090 --> 00:01:04.729 align:start position:0% beyond what the protocol allowed you to do<00:01:03.329> it<00:01:03.780> took<00:01:04.019> months<00:01:04.260> to<00:01:04.470> get<00:01:04.559> new 00:01:04.729 --> 00:01:04.739 align:start position:0% do it took months to get new 00:01:04.739 --> 00:01:07.280 align:start position:0% do it took months to get new functionality<00:01:05.339> into<00:01:05.580> a<00:01:05.610> protocol<00:01:06.090> and<00:01:06.390> if<00:01:07.200> you 00:01:07.280 --> 00:01:07.290 align:start position:0% functionality into a protocol and if you 00:01:07.290 --> 00:01:09.530 align:start position:0% functionality into a protocol and if you wanted<00:01:07.530> to<00:01:07.590> write<00:01:07.770> a<00:01:07.799> new<00:01:07.950> contract<00:01:08.450> you<00:01:09.450> were 00:01:09.530 --> 00:01:09.540 align:start position:0% wanted to write a new contract you were 00:01:09.540 --> 00:01:12.140 align:start position:0% wanted to write a new contract you were kind<00:01:09.750> of<00:01:09.840> out<00:01:09.930> of<00:01:09.960> luck<00:01:10.080> unless<00:01:10.710> the<00:01:11.220> OP<00:01:11.850> code 00:01:12.140 --> 00:01:12.150 align:start position:0% kind of out of luck unless the OP code 00:01:12.150 --> 00:01:14.060 align:start position:0% kind of out of luck unless the OP code for<00:01:12.450> your<00:01:12.570> contract<00:01:13.080> type<00:01:13.290> already<00:01:13.619> existed 00:01:14.060 --> 00:01:14.070 align:start position:0% for your contract type already existed 00:01:14.070 --> 00:01:16.460 align:start position:0% for your contract type already existed so<00:01:15.060> this<00:01:15.420> was<00:01:15.600> called<00:01:15.810> you<00:01:16.080> know<00:01:16.140> the<00:01:16.290> Swiss 00:01:16.460 --> 00:01:16.470 align:start position:0% so this was called you know the Swiss 00:01:16.470 --> 00:01:17.749 align:start position:0% so this was called you know the Swiss Army<00:01:16.710> knife<00:01:16.860> approach<00:01:17.189> and<00:01:17.400> so<00:01:17.490> there<00:01:17.640> was<00:01:17.729> a 00:01:17.749 --> 00:01:17.759 align:start position:0% Army knife approach and so there was a 00:01:17.759 --> 00:01:19.490 align:start position:0% Army knife approach and so there was a large<00:01:18.000> incremental<00:01:18.659> gain<00:01:18.840> when<00:01:19.020> we<00:01:19.110> went<00:01:19.320> from 00:01:19.490 --> 00:01:19.500 align:start position:0% large incremental gain when we went from 00:01:19.500 --> 00:01:22.190 align:start position:0% large incremental gain when we went from just<00:01:20.460> signature<00:01:21.030> multi<00:01:21.450> signature<00:01:21.869> type<00:01:22.049> of 00:01:22.190 --> 00:01:22.200 align:start position:0% just signature multi signature type of 00:01:22.200 --> 00:01:25.510 align:start position:0% just signature multi signature type of contracts<00:01:22.799> to<00:01:23.430> an<00:01:23.729> OP<00:01:24.060> code<00:01:24.270> based<00:01:24.509> contract 00:01:25.510 --> 00:01:25.520 align:start position:0% contracts to an OP code based contract 00:01:25.520 --> 00:01:29.090 align:start position:0% contracts to an OP code based contract then<00:01:26.900> aetherium<00:01:27.930> does<00:01:28.530> deserve<00:01:28.829> a<00:01:28.860> lot<00:01:29.070> of 00:01:29.090 --> 00:01:29.100 align:start position:0% then aetherium does deserve a lot of 00:01:29.100 --> 00:01:32.030 align:start position:0% then aetherium does deserve a lot of credit<00:01:29.310> for<00:01:30.119> taking<00:01:30.770> contracts<00:01:31.770> from<00:01:31.860> the 00:01:32.030 --> 00:01:32.040 align:start position:0% credit for taking contracts from the 00:01:32.040 --> 00:01:34.910 align:start position:0% credit for taking contracts from the protocol<00:01:32.340> op<00:01:32.610> code<00:01:32.850> level<00:01:33.180> over<00:01:34.110> into<00:01:34.560> the 00:01:34.910 --> 00:01:34.920 align:start position:0% protocol op code level over into the 00:01:34.920 --> 00:01:36.560 align:start position:0% protocol op code level over into the world<00:01:35.130> of<00:01:35.220> scriptable<00:01:35.640> smart<00:01:35.970> contracts 00:01:36.560 --> 00:01:36.570 align:start position:0% world of scriptable smart contracts 00:01:36.570 --> 00:01:38.480 align:start position:0% world of scriptable smart contracts which<00:01:37.140> is<00:01:37.170> the<00:01:37.409> world<00:01:37.560> we're<00:01:37.799> now<00:01:37.890> becoming 00:01:38.480 --> 00:01:38.490 align:start position:0% which is the world we're now becoming 00:01:38.490 --> 00:01:40.520 align:start position:0% which is the world we're now becoming more<00:01:38.610> used<00:01:38.970> to<00:01:39.060> in<00:01:39.509> this<00:01:39.869> world<00:01:40.140> of<00:01:40.229> scriptable 00:01:40.520 --> 00:01:40.530 align:start position:0% more used to in this world of scriptable 00:01:40.530 --> 00:01:42.679 align:start position:0% more used to in this world of scriptable smart<00:01:40.829> contracts<00:01:41.430> provides<00:01:42.240> a<00:01:42.450> lot<00:01:42.600> of 00:01:42.679 --> 00:01:42.689 align:start position:0% smart contracts provides a lot of 00:01:42.689 --> 00:01:44.060 align:start position:0% smart contracts provides a lot of flexibility<00:01:43.320> and<00:01:43.380> a<00:01:43.530> lot<00:01:43.680> of<00:01:43.710> new<00:01:43.890> features 00:01:44.060 --> 00:01:44.070 align:start position:0% flexibility and a lot of new features 00:01:44.070 --> 00:01:46.130 align:start position:0% flexibility and a lot of new features that<00:01:44.970> have<00:01:45.119> pulled<00:01:45.329> a<00:01:45.420> lot<00:01:45.540> of<00:01:45.570> people<00:01:45.960> and 00:01:46.130 --> 00:01:46.140 align:start position:0% that have pulled a lot of people and 00:01:46.140 --> 00:01:48.020 align:start position:0% that have pulled a lot of people and created<00:01:46.409> a<00:01:46.470> lot<00:01:46.590> of<00:01:46.710> useful<00:01:46.860> use<00:01:47.189> cases<00:01:47.430> right 00:01:48.020 --> 00:01:48.030 align:start position:0% created a lot of useful use cases right 00:01:48.030 --> 00:01:50.060 align:start position:0% created a lot of useful use cases right where<00:01:48.240> you<00:01:48.329> you<00:01:48.570> no<00:01:48.720> longer<00:01:48.899> need<00:01:49.200> to<00:01:49.229> ask 00:01:50.060 --> 00:01:50.070 align:start position:0% where you you no longer need to ask 00:01:50.070 --> 00:01:52.819 align:start position:0% where you you no longer need to ask somebody<00:01:50.820> to<00:01:50.880> add<00:01:51.090> a<00:01:51.119> smart<00:01:51.540> contract<00:01:52.020> type<00:01:52.259> at 00:01:52.819 --> 00:01:52.829 align:start position:0% somebody to add a smart contract type at 00:01:52.829 --> 00:01:55.069 align:start position:0% somebody to add a smart contract type at the<00:01:52.890> protocol<00:01:53.280> level<00:01:53.460> wait<00:01:54.390> months<00:01:54.659> for<00:01:54.780> it<00:01:54.990> to 00:01:55.069 --> 00:01:55.079 align:start position:0% the protocol level wait months for it to 00:01:55.079 --> 00:01:57.170 align:start position:0% the protocol level wait months for it to get<00:01:55.229> merged<00:01:55.590> in<00:01:55.890> you<00:01:56.549> know<00:01:56.670> experience<00:01:57.119> a 00:01:57.170 --> 00:01:57.180 align:start position:0% get merged in you know experience a 00:01:57.180 --> 00:01:59.389 align:start position:0% get merged in you know experience a heart<00:01:57.390> for<00:01:57.600> possibly<00:01:58.110> to<00:01:58.290> get<00:01:58.469> yet<00:01:58.770> it<00:01:58.860> working 00:01:59.389 --> 00:01:59.399 align:start position:0% heart for possibly to get yet it working 00:01:59.399 --> 00:02:02.359 align:start position:0% heart for possibly to get yet it working you<00:01:59.969> can<00:02:00.149> now<00:02:00.270> code<00:02:00.600> up<00:02:00.780> a<00:02:01.020> contract<00:02:01.770> without 00:02:02.359 --> 00:02:02.369 align:start position:0% you can now code up a contract without 00:02:02.369 --> 00:02:03.920 align:start position:0% you can now code up a contract without having<00:02:02.880> to<00:02:03.000> do<00:02:03.090> anything<00:02:03.270> at<00:02:03.509> the<00:02:03.570> protocol 00:02:03.920 --> 00:02:03.930 align:start position:0% having to do anything at the protocol 00:02:03.930 --> 00:02:06.230 align:start position:0% having to do anything at the protocol level<00:02:03.990> and<00:02:04.590> you<00:02:05.280> know<00:02:05.399> this<00:02:05.579> conference<00:02:06.030> and 00:02:06.230 --> 00:02:06.240 align:start position:0% level and you know this conference and 00:02:06.240 --> 00:02:09.350 align:start position:0% level and you know this conference and the<00:02:07.020> wide<00:02:07.200> kind<00:02:07.500> of<00:02:07.680> panoply<00:02:08.009> of<00:02:08.360> projects 00:02:09.350 --> 00:02:09.360 align:start position:0% the wide kind of panoply of projects 00:02:09.360 --> 00:02:10.809 align:start position:0% the wide kind of panoply of projects building<00:02:09.629> different<00:02:09.929> things<00:02:10.110> speaks<00:02:10.470> to<00:02:10.649> the 00:02:10.809 --> 00:02:10.819 align:start position:0% building different things speaks to the 00:02:10.819 --> 00:02:13.700 align:start position:0% building different things speaks to the benefit<00:02:11.819> of<00:02:11.849> these<00:02:12.510> additional<00:02:13.020> features 00:02:13.700 --> 00:02:13.710 align:start position:0% benefit of these additional features 00:02:13.710 --> 00:02:15.680 align:start position:0% benefit of these additional features so<00:02:14.250> smart<00:02:14.520> contracts<00:02:15.060> in<00:02:15.150> our<00:02:15.240> view<00:02:15.450> keep 00:02:15.680 --> 00:02:15.690 align:start position:0% so smart contracts in our view keep 00:02:15.690 --> 00:02:17.720 align:start position:0% so smart contracts in our view keep getting<00:02:15.990> up<00:02:16.200> did<00:02:16.470> more<00:02:16.650> and<00:02:16.680> more<00:02:16.950> the<00:02:17.520> more 00:02:17.720 --> 00:02:17.730 align:start position:0% getting up did more and more the more 00:02:17.730 --> 00:02:21.680 align:start position:0% getting up did more and more the more useful<00:02:17.940> features<00:02:18.240> they<00:02:18.570> have<00:02:18.600> right<00:02:19.400> so<00:02:20.690> this 00:02:21.680 --> 00:02:21.690 align:start position:0% useful features they have right so this 00:02:21.690 --> 00:02:24.920 align:start position:0% useful features they have right so this is<00:02:21.900> the<00:02:22.020> most<00:02:22.170> recent<00:02:22.470> development<00:02:23.160> in<00:02:23.930> for 00:02:24.920 --> 00:02:24.930 align:start position:0% is the most recent development in for 00:02:24.930 --> 00:02:27.650 align:start position:0% is the most recent development in for how<00:02:25.110> smart<00:02:25.410> contracts<00:02:25.920> have<00:02:26.040> left<00:02:26.250> forward<00:02:26.660> we 00:02:27.650 --> 00:02:27.660 align:start position:0% how smart contracts have left forward we 00:02:27.660 --> 00:02:29.540 align:start position:0% how smart contracts have left forward we feel<00:02:27.930> there's<00:02:28.200> another<00:02:28.500> leap<00:02:28.740> forward<00:02:28.770> so<00:02:29.460> the 00:02:29.540 --> 00:02:29.550 align:start position:0% feel there's another leap forward so the 00:02:29.550 --> 00:02:31.820 align:start position:0% feel there's another leap forward so the next<00:02:29.790> leap<00:02:29.940> forward<00:02:30.330> is<00:02:31.020> taking<00:02:31.440> scriptable 00:02:31.820 --> 00:02:31.830 align:start position:0% next leap forward is taking scriptable 00:02:31.830 --> 00:02:34.100 align:start position:0% next leap forward is taking scriptable smart<00:02:32.130> contracts<00:02:32.760> and<00:02:32.940> allowing<00:02:33.750> them<00:02:33.930> to 00:02:34.100 --> 00:02:34.110 align:start position:0% smart contracts and allowing them to 00:02:34.110 --> 00:02:37.040 align:start position:0% smart contracts and allowing them to meaningfully<00:02:34.770> interact<00:02:34.980> with<00:02:36.050> external 00:02:37.040 --> 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that's what your<00:02:51.420> contract<00:02:51.840> will<00:02:52.020> be<00:02:52.140> limited<00:02:52.440> to<00:02:52.470> today 00:02:52.840 --> 00:02:52.850 align:start position:0% your contract will be limited to today 00:02:52.850 --> 00:02:55.460 align:start position:0% your contract will be limited to today now<00:02:53.850> the<00:02:53.910> next<00:02:54.390> leap<00:02:54.630> forward<00:02:54.990> in<00:02:55.080> actual 00:02:55.460 --> 00:02:55.470 align:start position:0% now the next leap forward in actual 00:02:55.470 --> 00:02:58.460 align:start position:0% now the next leap forward in actual value<00:02:55.890> and<00:02:56.070> features<00:02:56.250> and<00:02:56.790> capabilities<00:02:57.470> that 00:02:58.460 --> 00:02:58.470 align:start position:0% value and features and capabilities that 00:02:58.470 --> 00:03:00.380 align:start position:0% value and features and capabilities that we're<00:02:58.950> hoping<00:02:59.160> to<00:02:59.370> help<00:02:59.580> people<00:02:59.760> attain<00:03:00.120> is 00:03:00.380 --> 00:03:00.390 align:start position:0% we're hoping to help people attain is 00:03:00.390 --> 00:03:03.350 align:start position:0% we're hoping to help people attain is the<00:03:00.990> ability<00:03:01.170> for<00:03:01.320> scriptable<00:03:02.040> contracts<00:03:02.730> to 00:03:03.350 --> 00:03:03.360 align:start position:0% the ability for scriptable contracts to 00:03:03.360 --> 00:03:05.270 align:start position:0% the ability for scriptable contracts to know<00:03:04.110> what's<00:03:04.350> going<00:03:04.590> on<00:03:04.680> in<00:03:04.860> the<00:03:04.920> real<00:03:05.070> world 00:03:05.270 --> 00:03:05.280 align:start position:0% know what's going on in the real world 00:03:05.280 --> 00:03:07.670 align:start position:0% know what's going on in the real world and<00:03:05.610> for<00:03:06.300> those<00:03:06.390> contracts<00:03:07.050> to<00:03:07.140> also<00:03:07.440> be<00:03:07.590> able 00:03:07.670 --> 00:03:07.680 align:start position:0% and for those contracts to also be able 00:03:07.680 --> 00:03:11.270 align:start position:0% and for those contracts to also be able to<00:03:07.970> do<00:03:08.970> whatever<00:03:09.180> the<00:03:10.020> application<00:03:10.650> or<00:03:10.920> the 00:03:11.270 --> 00:03:11.280 align:start position:0% to do whatever the application or the 00:03:11.280 --> 00:03:12.980 align:start position:0% to do whatever the application or the decentralized<00:03:11.670> application<00:03:12.420> wants<00:03:12.570> them<00:03:12.840> to 00:03:12.980 --> 00:03:12.990 align:start position:0% decentralized application wants them to 00:03:12.990 --> 00:03:14.810 align:start position:0% decentralized application wants them to do<00:03:13.140> whether<00:03:13.770> that's<00:03:13.920> sending<00:03:14.220> payments 00:03:14.810 --> 00:03:14.820 align:start position:0% do whether that's sending payments 00:03:14.820 --> 00:03:16.940 align:start position:0% do whether that's sending payments notifications<00:03:15.600> affecting<00:03:16.590> real<00:03:16.770> world 00:03:16.940 --> 00:03:16.950 align:start position:0% notifications affecting real world 00:03:16.950 --> 00:03:19.490 align:start position:0% notifications affecting real world events<00:03:17.340> we<00:03:18.000> think<00:03:18.270> this<00:03:18.450> is<00:03:18.510> the<00:03:18.630> next<00:03:18.900> large 00:03:19.490 --> 00:03:19.500 align:start position:0% events we think this is the next large 00:03:19.500 --> 00:03:21.590 align:start position:0% events we think this is the next large leap<00:03:19.770> in<00:03:19.950> value<00:03:20.310> that's<00:03:21.030> going<00:03:21.180> to<00:03:21.300> take<00:03:21.420> us 00:03:21.590 --> 00:03:21.600 align:start position:0% leap in value that's going to take us 00:03:21.600 --> 00:03:23.960 align:start position:0% leap in value that's going to take us from<00:03:21.750> ok<00:03:22.320> smart<00:03:22.620> contracts<00:03:23.040> seem<00:03:23.340> only<00:03:23.580> to<00:03:23.760> be 00:03:23.960 --> 00:03:23.970 align:start position:0% from ok smart contracts seem only to be 00:03:23.970 --> 00:03:27.110 align:start position:0% from ok smart contracts seem only to be useful<00:03:24.090> for<00:03:24.780> tokens<00:03:25.020> to<00:03:25.770> smart<00:03:26.040> contracts<00:03:26.670> are 00:03:27.110 --> 00:03:27.120 align:start position:0% useful for tokens to smart contracts are 00:03:27.120 --> 00:03:29.470 align:start position:0% useful for tokens to smart contracts are the<00:03:27.330> standard<00:03:27.660> form<00:03:27.870> of<00:03:27.990> agreement<00:03:28.410> for 00:03:29.470 --> 00:03:29.480 align:start position:0% the standard form of agreement for 00:03:29.480 --> 00:03:31.430 align:start position:0% the standard form of agreement for securities<00:03:30.480> derivatives<00:03:30.990> prediction 00:03:31.430 --> 00:03:31.440 align:start position:0% securities derivatives prediction 00:03:31.440 --> 00:03:33.050 align:start position:0% securities derivatives prediction markets<00:03:31.800> insurance<00:03:32.220> trade<00:03:32.490> finance<00:03:32.850> you<00:03:33.030> know 00:03:33.050 --> 00:03:33.060 align:start position:0% markets insurance trade finance you know 00:03:33.060 --> 00:03:34.720 align:start position:0% markets insurance trade finance you know all<00:03:33.240> these<00:03:33.390> all<00:03:33.750> these<00:03:34.140> industries<00:03:34.620> that 00:03:34.720 --> 00:03:34.730 align:start position:0% all these all these industries that 00:03:34.730 --> 00:03:37.160 align:start position:0% all these all these industries that require<00:03:35.730> their<00:03:35.970> contracts<00:03:36.660> to<00:03:36.810> know<00:03:36.960> what's 00:03:37.160 --> 00:03:37.170 align:start position:0% require their contracts to know what's 00:03:37.170 --> 00:03:39.620 align:start position:0% require their contracts to know what's going<00:03:37.410> on<00:03:37.560> and<00:03:37.890> require<00:03:38.730> their<00:03:38.970> contracts<00:03:39.480> to 00:03:39.620 --> 00:03:39.630 align:start position:0% going on and require their contracts to 00:03:39.630 --> 00:03:42.740 align:start position:0% going on and require their contracts to be<00:03:39.720> able<00:03:39.870> to<00:03:39.990> make<00:03:40.140> useful<00:03:40.350> events<00:03:41.160> happen<00:03:41.750> now 00:03:42.740 --> 00:03:42.750 align:start position:0% be able to make useful events happen now 00:03:42.750 --> 00:03:45.470 align:start position:0% be able to make useful events happen now to<00:03:43.530> get<00:03:44.010> to<00:03:44.160> that<00:03:44.250> value<00:03:44.670> we<00:03:44.820> basically<00:03:45.180> have 00:03:45.470 --> 00:03:45.480 align:start position:0% to get to that value we basically have 00:03:45.480 --> 00:03:46.640 align:start position:0% to get to that value we basically have to<00:03:45.630> look<00:03:45.780> at<00:03:45.960> the<00:03:46.200> smart<00:03:46.470> contract 00:03:46.640 --> 00:03:46.650 align:start position:0% to look at the smart contract 00:03:46.650 --> 00:03:48.620 align:start position:0% to look at the smart contract connectivity<00:03:47.520> problem<00:03:47.970> or<00:03:48.180> the<00:03:48.300> Oracle 00:03:48.620 --> 00:03:48.630 align:start position:0% connectivity problem or the Oracle 00:03:48.630 --> 00:03:51.080 align:start position:0% connectivity problem or the Oracle problem<00:03:49.050> or<00:03:49.490> kind<00:03:50.490> of<00:03:50.550> whatever<00:03:50.700> you<00:03:50.880> want<00:03:51.030> to 00:03:51.080 --> 00:03:51.090 align:start position:0% problem or kind of whatever you want to 00:03:51.090 --> 00:03:52.490 align:start position:0% problem or kind of whatever you want to call<00:03:51.240> it<00:03:51.390> it's<00:03:51.510> it's<00:03:51.690> basically<00:03:52.080> the<00:03:52.260> problem 00:03:52.490 --> 00:03:52.500 align:start position:0% call it it's it's basically the problem 00:03:52.500 --> 00:03:55.370 align:start position:0% call it it's it's basically the problem that<00:03:52.800> neither<00:03:53.700> aetherium<00:03:54.270> nor<00:03:54.510> any<00:03:55.230> other 00:03:55.370 --> 00:03:55.380 align:start position:0% that neither aetherium nor any other 00:03:55.380 --> 00:03:56.840 align:start position:0% that neither aetherium nor any other change<00:03:55.620> basically<00:03:55.860> work<00:03:56.220> on<00:03:56.340> right<00:03:56.520> now<00:03:56.640> is 00:03:56.840 --> 00:03:56.850 align:start position:0% change basically work on right now is 00:03:56.850 --> 00:03:59.480 align:start position:0% change basically work on right now is gonna<00:03:57.000> allow<00:03:57.360> you<00:03:57.420> to<00:03:57.720> reach<00:03:57.930> out<00:03:58.170> and<00:03:58.560> know 00:03:59.480 --> 00:03:59.490 align:start position:0% gonna allow you to reach out and know 00:03:59.490 --> 00:04:01.790 align:start position:0% gonna allow you to reach out and know what's<00:03:59.910> going<00:04:00.000> on<00:04:00.330> in<00:04:00.480> the<00:04:00.540> real<00:04:00.690> world<00:04:00.900> so<00:04:01.680> if 00:04:01.790 --> 00:04:01.800 align:start position:0% what's going on in the real world so if 00:04:01.800 --> 00:04:03.620 align:start position:0% what's going on in the real world so if you<00:04:01.920> have<00:04:02.010> a<00:04:02.040> contract<00:04:02.430> for<00:04:02.670> delivery<00:04:03.120> your 00:04:03.620 --> 00:04:03.630 align:start position:0% you have a contract for delivery your 00:04:03.630 --> 00:04:04.880 align:start position:0% you have a contract for delivery your contract<00:04:04.050> can't<00:04:04.230> know<00:04:04.350> that<00:04:04.380> a<00:04:04.530> delivery 00:04:04.880 --> 00:04:04.890 align:start position:0% contract can't know that a delivery 00:04:04.890 --> 00:04:06.500 align:start position:0% contract can't know that a delivery happened<00:04:05.220> if<00:04:05.580> you<00:04:05.760> have<00:04:05.850> a<00:04:05.880> contract<00:04:06.390> for 00:04:06.500 --> 00:04:06.510 align:start position:0% happened if you have a contract for 00:04:06.510 --> 00:04:08.690 align:start position:0% happened if you have a contract for something<00:04:07.200> related<00:04:07.530> to<00:04:07.560> market<00:04:07.950> data<00:04:08.100> your 00:04:08.690 --> 00:04:08.700 align:start position:0% something related to market data your 00:04:08.700 --> 00:04:10.520 align:start position:0% something related to market data your contract<00:04:09.150> can't<00:04:09.390> know<00:04:09.540> that<00:04:09.720> happened<00:04:10.080> that's 00:04:10.520 --> 00:04:10.530 align:start position:0% contract can't know that happened that's 00:04:10.530 --> 00:04:12.470 align:start position:0% contract can't know that happened that's why<00:04:10.740> everybody's<00:04:11.250> building<00:04:11.430> tokens<00:04:11.910> because 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to go beyond that 00:04:17.220 --> 00:04:19.610 align:start position:0% start to try to go beyond that functionality<00:04:17.880> they<00:04:18.000> hit<00:04:18.120> a<00:04:18.150> wall<00:04:18.420> that<00:04:19.410> wall 00:04:19.610 --> 00:04:19.620 align:start position:0% functionality they hit a wall that wall 00:04:19.620 --> 00:04:21.289 align:start position:0% functionality they hit a wall that wall is<00:04:19.799> basically<00:04:20.160> the<00:04:20.520> smart<00:04:20.790> contract 00:04:21.289 --> 00:04:21.299 align:start position:0% is basically the smart contract 00:04:21.299 --> 00:04:23.690 align:start position:0% is basically the smart contract connectivity<00:04:22.049> and<00:04:22.230> the<00:04:22.320> Oracle<00:04:22.620> problem<00:04:22.980> and 00:04:23.690 --> 00:04:23.700 align:start position:0% connectivity and the Oracle problem and 00:04:23.700 --> 00:04:25.610 align:start position:0% connectivity and the Oracle problem and we<00:04:23.970> are<00:04:24.120> very<00:04:24.270> interested<00:04:24.419> in<00:04:24.960> seeing<00:04:25.260> if<00:04:25.560> we 00:04:25.610 --> 00:04:25.620 align:start position:0% we are very interested in seeing if we 00:04:25.620 --> 00:04:27.410 align:start position:0% we are very interested in seeing if we can<00:04:25.860> get<00:04:26.040> people<00:04:26.250> get<00:04:26.700> the<00:04:26.850> space 00:04:27.410 --> 00:04:27.420 align:start position:0% can get people get the space 00:04:27.420 --> 00:04:29.900 align:start position:0% can get people get the space on<00:04:27.510> that<00:04:27.750> wall<00:04:27.990> to<00:04:28.740> see<00:04:28.920> a<00:04:28.950> lot<00:04:29.190> of<00:04:29.310> useful<00:04:29.520> use 00:04:29.900 --> 00:04:29.910 align:start position:0% on that wall to see a lot of useful use 00:04:29.910 --> 00:04:32.480 align:start position:0% on that wall to see a lot of useful use cases<00:04:30.650> actually<00:04:31.650> do<00:04:31.800> useful<00:04:31.950> things<00:04:32.130> in<00:04:32.400> the 00:04:32.480 --> 00:04:32.490 align:start position:0% cases actually do useful things in the 00:04:32.490 --> 00:04:34.790 align:start position:0% cases actually do useful things in the real<00:04:32.640> world<00:04:32.820> right<00:04:33.390> so<00:04:33.420> that<00:04:33.720> is<00:04:33.870> kind<00:04:34.110> of<00:04:34.230> the 00:04:34.790 --> 00:04:34.800 align:start position:0% real world right so that is kind of the 00:04:34.800 --> 00:04:36.470 align:start position:0% real world right so that is kind of the body<00:04:35.010> of<00:04:35.190> work<00:04:35.370> we're<00:04:35.580> engaged<00:04:35.910> in<00:04:36.150> and<00:04:36.360> that 00:04:36.470 --> 00:04:36.480 align:start position:0% body of work we're engaged in and that 00:04:36.480 --> 00:04:39.350 align:start position:0% body of work we're engaged in and that we're<00:04:36.630> hoping<00:04:36.750> to<00:04:37.020> see<00:04:37.700> see<00:04:38.700> moved<00:04:38.910> forward<00:04:39.240> to 00:04:39.350 --> 00:04:39.360 align:start position:0% we're hoping to see see moved forward to 00:04:39.360 --> 00:04:41.530 align:start position:0% we're hoping to see see moved forward to the<00:04:39.450> point<00:04:39.690> there's<00:04:39.930> actual<00:04:40.290> practical 00:04:41.530 --> 00:04:41.540 align:start position:0% the point there's actual practical 00:04:41.540 --> 00:04:45.530 align:start position:0% the point there's actual practical implications<00:04:42.540> of<00:04:42.950> real-world<00:04:44.150> events<00:04:45.150> being 00:04:45.530 --> 00:04:45.540 align:start position:0% implications of real-world events being 00:04:45.540 --> 00:04:49.130 align:start position:0% implications of real-world events being triggered<00:04:45.810> by<00:04:45.960> smart<00:04:46.590> contracts<00:04:47.180> now<00:04:48.180> the 00:04:49.130 --> 00:04:49.140 align:start position:0% triggered by smart contracts now the 00:04:49.140 --> 00:04:51.470 align:start position:0% triggered by smart contracts now the solution<00:04:49.590> for<00:04:49.950> this<00:04:50.010> problem<00:04:50.220> sounds<00:04:50.910> sort<00:04:51.420> of 00:04:51.470 --> 00:04:51.480 align:start position:0% solution for this problem sounds sort of 00:04:51.480 --> 00:04:53.390 align:start position:0% solution for this problem sounds sort of mundane<00:04:51.690> but<00:04:52.260> it's<00:04:52.380> actually<00:04:52.740> very<00:04:52.770> important 00:04:53.390 --> 00:04:53.400 align:start position:0% mundane but it's actually very important 00:04:53.400 --> 00:04:54.440 align:start position:0% mundane but it's actually very important so<00:04:53.520> the<00:04:53.640> solution<00:04:54.000> is<00:04:54.090> essentially 00:04:54.440 --> 00:04:54.450 align:start position:0% so the solution is essentially 00:04:54.450 --> 00:04:56.270 align:start position:0% so the solution is essentially blockchain<00:04:54.960> middleware<00:04:55.350> so<00:04:55.950> what<00:04:56.070> you<00:04:56.160> need 00:04:56.270 --> 00:04:56.280 align:start position:0% blockchain middleware so what you need 00:04:56.280 --> 00:04:57.880 align:start position:0% blockchain middleware so what you need to<00:04:56.340> do<00:04:56.550> is<00:04:56.700> you<00:04:56.790> need<00:04:56.910> to<00:04:56.970> designate 00:04:57.880 --> 00:04:57.890 align:start position:0% to do is you need to designate 00:04:57.890 --> 00:05:00.350 align:start position:0% to do is you need to designate essentially<00:04:58.890> a<00:04:58.920> trusted<00:04:59.310> third<00:04:59.460> party<00:04:59.820> that 00:05:00.350 --> 00:05:00.360 align:start position:0% essentially a trusted third party that 00:05:00.360 --> 00:05:03.080 align:start position:0% essentially a trusted third party that acts<00:05:00.600> as<00:05:00.960> the<00:05:01.440> source<00:05:01.680> of<00:05:01.800> data<00:05:01.980> inputs<00:05:02.460> and 00:05:03.080 --> 00:05:03.090 align:start position:0% acts as the source of data inputs and 00:05:03.090 --> 00:05:05.540 align:start position:0% acts as the source of data inputs and acts<00:05:03.270> as<00:05:03.600> an<00:05:04.020> off<00:05:04.140> chain<00:05:04.440> agent<00:05:04.800> for<00:05:04.980> executing 00:05:05.540 --> 00:05:05.550 align:start position:0% acts as an off chain agent for executing 00:05:05.550 --> 00:05:07.910 align:start position:0% acts as an off chain agent for executing various<00:05:05.730> events<00:05:06.150> on<00:05:06.480> behalf<00:05:07.200> of<00:05:07.350> the<00:05:07.500> contract 00:05:07.910 --> 00:05:07.920 align:start position:0% various events on behalf of the contract 00:05:07.920 --> 00:05:10.400 align:start position:0% various events on behalf of the contract off<00:05:08.100> chain<00:05:08.480> do<00:05:09.480> to<00:05:09.600> do<00:05:09.870> to<00:05:10.020> the<00:05:10.110> way<00:05:10.230> that 00:05:10.400 --> 00:05:10.410 align:start position:0% off chain do to do to the way that 00:05:10.410 --> 00:05:12.170 align:start position:0% off chain do to do to the way that decentralized<00:05:11.010> consensus<00:05:11.610> arrives<00:05:11.940> at 00:05:12.170 --> 00:05:12.180 align:start position:0% decentralized consensus arrives at 00:05:12.180 --> 00:05:14.450 align:start position:0% decentralized consensus arrives at blocks<00:05:12.450> and<00:05:12.750> putting<00:05:12.960> data<00:05:13.110> into<00:05:13.380> blocks<00:05:13.620> it 00:05:14.450 --> 00:05:14.460 align:start position:0% blocks and putting data into blocks it 00:05:14.460 --> 00:05:16.340 align:start position:0% blocks and putting data into blocks it it<00:05:14.850> isn't<00:05:15.150> really<00:05:15.300> possible<00:05:15.510> for<00:05:16.020> the<00:05:16.110> current 00:05:16.340 --> 00:05:16.350 align:start position:0% it isn't really possible for the current 00:05:16.350 --> 00:05:17.450 align:start position:0% it isn't really possible for the current mining<00:05:16.650> schemes<00:05:16.920> or<00:05:17.100> the<00:05:17.160> decentralized 00:05:17.450 --> 00:05:17.460 align:start position:0% mining schemes or the decentralized 00:05:17.460 --> 00:05:20.810 align:start position:0% mining schemes or the decentralized consensus<00:05:18.180> schemes<00:05:18.390> of<00:05:18.570> today<00:05:18.810> to<00:05:19.820> enable 00:05:20.810 --> 00:05:20.820 align:start position:0% consensus schemes of today to enable 00:05:20.820 --> 00:05:23.030 align:start position:0% consensus schemes of today to enable this<00:05:20.970> right<00:05:21.630> so<00:05:21.930> you<00:05:22.350> basically<00:05:22.560> need<00:05:23.010> a 00:05:23.030 --> 00:05:23.040 align:start position:0% this right so you basically need a 00:05:23.040 --> 00:05:24.710 align:start position:0% this right so you basically need a middleware<00:05:23.460> you<00:05:23.640> need<00:05:23.790> a<00:05:23.820> third<00:05:24.270> party<00:05:24.630> that's 00:05:24.710 --> 00:05:24.720 align:start position:0% middleware you need a third party that's 00:05:24.720 --> 00:05:27.620 align:start position:0% middleware you need a third party that's responsible<00:05:25.460> for<00:05:26.460> giving<00:05:26.850> your<00:05:27.090> contract 00:05:27.620 --> 00:05:27.630 align:start position:0% responsible for giving your contract 00:05:27.630 --> 00:05:28.790 align:start position:0% responsible for giving your contract what<00:05:27.780> it<00:05:27.870> needs<00:05:28.080> to<00:05:28.230> know<00:05:28.350> and<00:05:28.650> that's 00:05:28.790 --> 00:05:28.800 align:start position:0% what it needs to know and that's 00:05:28.800 --> 00:05:31.280 align:start position:0% what it needs to know and that's responsible<00:05:29.430> for<00:05:29.760> acting<00:05:30.510> on<00:05:30.600> your<00:05:30.690> contracts 00:05:31.280 --> 00:05:31.290 align:start position:0% responsible for acting on your contracts 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generate<00:05:45.630> real<00:05:45.990> world<00:05:46.230> events<00:05:46.620> of 00:05:46.790 --> 00:05:46.800 align:start position:0% generate real world events of 00:05:46.800 --> 00:05:49.000 align:start position:0% generate real world events of significance<00:05:47.030> such<00:05:48.030> as<00:05:48.240> bank<00:05:48.480> payments 00:05:49.000 --> 00:05:49.010 align:start position:0% significance such as bank payments 00:05:49.010 --> 00:05:51.020 align:start position:0% significance such as bank payments whatever<00:05:50.010> other<00:05:50.160> events<00:05:50.550> and<00:05:50.670> whatever<00:05:50.790> other 00:05:51.020 --> 00:05:51.030 align:start position:0% whatever other events and whatever other 00:05:51.030 --> 00:05:53.510 align:start position:0% whatever other events and whatever other system<00:05:51.450> the<00:05:51.540> end<00:05:51.900> user<00:05:52.110> cares<00:05:52.350> about<00:05:52.680> and<00:05:52.920> it 00:05:53.510 --> 00:05:53.520 align:start position:0% system the end user cares about and it 00:05:53.520 --> 00:05:55.460 align:start position:0% system the end user cares about and it also<00:05:53.670> allows<00:05:54.000> contracts<00:05:54.690> to<00:05:54.870> sign<00:05:55.080> and<00:05:55.320> send 00:05:55.460 --> 00:05:55.470 align:start position:0% also allows contracts to sign and send 00:05:55.470 --> 00:05:59.420 align:start position:0% also allows contracts to sign and send transactions<00:05:56.070> to<00:05:56.190> other<00:05:56.340> chains<00:05:56.930> now<00:05:57.930> I<00:05:58.430> think 00:05:59.420 --> 00:05:59.430 align:start position:0% transactions to other chains now I think 00:05:59.430 --> 00:06:00.770 align:start position:0% transactions to other chains now I think the<00:05:59.550> really<00:05:59.730> important<00:06:00.210> thing<00:06:00.390> to<00:06:00.420> keep<00:06:00.630> in 00:06:00.770 --> 00:06:00.780 align:start position:0% the really important thing to keep in 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it needs to function<00:06:07.590> and<00:06:07.740> and<00:06:08.400> that's<00:06:08.610> responsible<00:06:09.240> for 00:06:09.350 --> 00:06:09.360 align:start position:0% function and and that's responsible for 00:06:09.360 --> 00:06:11.320 align:start position:0% function and and that's responsible for making<00:06:09.600> York<00:06:09.990> making<00:06:10.260> sure<00:06:10.500> your<00:06:10.680> contract 00:06:11.320 --> 00:06:11.330 align:start position:0% making York making sure your contract 00:06:11.330 --> 00:06:13.970 align:start position:0% making York making sure your contract effects<00:06:12.330> real<00:06:12.540> world<00:06:12.810> events<00:06:13.320> is<00:06:13.500> the 00:06:13.970 --> 00:06:13.980 align:start position:0% effects real world events is the 00:06:13.980 --> 00:06:16.190 align:start position:0% effects real world events is the reliability<00:06:14.820> of<00:06:14.850> that<00:06:15.060> system<00:06:15.330> right<00:06:15.810> if<00:06:16.050> we 00:06:16.190 --> 00:06:16.200 align:start position:0% reliability of that system right if we 00:06:16.200 --> 00:06:19.370 align:start position:0% reliability of that system right if we have<00:06:16.350> a<00:06:16.730> secure<00:06:17.730> middle<00:06:18.270> piece<00:06:18.600> kind<00:06:19.200> of<00:06:19.260> the 00:06:19.370 --> 00:06:19.380 align:start position:0% have a secure middle piece kind of the 00:06:19.380 --> 00:06:21.590 align:start position:0% have a secure middle piece kind of the smart<00:06:19.620> contract<00:06:20.070> language<00:06:20.250> network<00:06:20.970> is<00:06:21.300> where 00:06:21.590 --> 00:06:21.600 align:start position:0% smart contract language network is where 00:06:21.600 --> 00:06:23.450 align:start position:0% smart contract language network is where the<00:06:21.690> state<00:06:21.900> is<00:06:22.080> and<00:06:22.350> then<00:06:23.040> we<00:06:23.160> have<00:06:23.310> an 00:06:23.450 --> 00:06:23.460 align:start position:0% the state is and then we have an 00:06:23.460 --> 00:06:25.490 align:start position:0% the state is and then we have an unsecure<00:06:23.790> triggering<00:06:24.450> mechanism<00:06:24.960> the 00:06:25.490 --> 00:06:25.500 align:start position:0% unsecure triggering mechanism the 00:06:25.500 --> 00:06:28.100 align:start position:0% unsecure triggering mechanism the end-to-end<00:06:25.890> reliability<00:06:26.730> the<00:06:27.060> total<00:06:27.570> kind<00:06:27.990> of 00:06:28.100 --> 00:06:28.110 align:start position:0% end-to-end reliability the total kind of 00:06:28.110 --> 00:06:30.920 align:start position:0% end-to-end reliability the total kind of average<00:06:28.560> determinism<00:06:29.550> and<00:06:29.760> usefulness<00:06:30.270> of<00:06:30.690> a 00:06:30.920 --> 00:06:30.930 align:start position:0% average determinism and usefulness of a 00:06:30.930 --> 00:06:34.220 align:start position:0% average determinism and usefulness of a smart<00:06:31.170> contract<00:06:31.730> remains<00:06:32.730> too<00:06:33.120> low<00:06:33.300> in<00:06:33.840> our 00:06:34.220 --> 00:06:34.230 align:start position:0% smart contract remains too low in our 00:06:34.230 --> 00:06:36.680 align:start position:0% smart contract remains too low in our opinion<00:06:34.650> it<00:06:34.950> remains<00:06:35.250> so<00:06:35.490> low<00:06:35.700> that<00:06:35.970> it<00:06:36.480> will 00:06:36.680 --> 00:06:36.690 align:start position:0% opinion it remains so low that it will 00:06:36.690 --> 00:06:40.100 align:start position:0% opinion it remains so low that it will not<00:06:36.870> be<00:06:36.930> used<00:06:37.260> in<00:06:38.090> in<00:06:39.090> many<00:06:39.300> use<00:06:39.480> cases<00:06:39.750> that 00:06:40.100 --> 00:06:40.110 align:start position:0% not be used in in many use cases that 00:06:40.110 --> 00:06:41.460 align:start position:0% not be used in in many use cases that require 00:06:41.460 --> 00:06:41.470 align:start position:0% require 00:06:41.470 --> 00:06:43.680 align:start position:0% require that<00:06:42.220> that<00:06:42.460> benefit<00:06:42.910> from<00:06:43.000> the<00:06:43.120> value<00:06:43.420> of<00:06:43.450> the 00:06:43.680 --> 00:06:43.690 align:start position:0% that that benefit from the value of the 00:06:43.690 --> 00:06:45.690 align:start position:0% that that benefit from the value of the deterministic<00:06:44.170> and<00:06:44.650> highly<00:06:45.070> reliable<00:06:45.220> nature 00:06:45.690 --> 00:06:45.700 align:start position:0% deterministic and highly reliable nature 00:06:45.700 --> 00:06:48.120 align:start position:0% deterministic and highly reliable nature of<00:06:45.790> contracts<00:06:46.360> so<00:06:46.600> if<00:06:47.380> you're<00:06:47.650> gonna<00:06:47.920> trigger 00:06:48.120 --> 00:06:48.130 align:start position:0% of contracts so if you're gonna trigger 00:06:48.130 --> 00:06:50.550 align:start position:0% of contracts so if you're gonna trigger contracts<00:06:48.880> using<00:06:49.330> whatever<00:06:49.750> system<00:06:50.320> and 00:06:50.550 --> 00:06:50.560 align:start position:0% contracts using whatever system and 00:06:50.560 --> 00:06:52.380 align:start position:0% contracts using whatever system and you're<00:06:50.740> gonna<00:06:50.890> use<00:06:51.070> have<00:06:51.640> contracts<00:06:52.240> do 00:06:52.380 --> 00:06:52.390 align:start position:0% you're gonna use have contracts do 00:06:52.390 --> 00:06:54.900 align:start position:0% you're gonna use have contracts do meaningful<00:06:52.600> events<00:06:53.080> and<00:06:53.170> other<00:06:53.260> systems<00:06:53.910> the 00:06:54.900 --> 00:06:54.910 align:start position:0% meaningful events and other systems the 00:06:54.910 --> 00:06:57.180 align:start position:0% meaningful events and other systems the mechanism<00:06:55.840> by<00:06:55.960> which<00:06:55.990> you<00:06:56.140> do<00:06:56.350> that<00:06:56.530> needs<00:06:56.920> to 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down<00:07:13.120> by 00:07:13.860 --> 00:07:13.870 align:start position:0% that is easily basically taken down by 00:07:13.870 --> 00:07:15.240 align:start position:0% that is easily basically taken down by other<00:07:14.110> messing<00:07:14.410> with<00:07:14.440> the<00:07:14.620> method<00:07:14.860> of<00:07:14.920> input 00:07:15.240 --> 00:07:15.250 align:start position:0% other messing with the method of input 00:07:15.250 --> 00:07:18.000 align:start position:0% other messing with the method of input or<00:07:15.460> however<00:07:16.090> the<00:07:16.540> output<00:07:16.890> completes<00:07:17.890> the 00:07:18.000 --> 00:07:18.010 align:start position:0% or however the output completes the 00:07:18.010 --> 00:07:20.700 align:start position:0% or however the output completes the contract<00:07:18.510> so<00:07:19.510> I<00:07:19.780> think<00:07:19.900> what<00:07:20.230> it's<00:07:20.320> useful<00:07:20.620> to 00:07:20.700 --> 00:07:20.710 align:start position:0% contract so I think what it's useful to 00:07:20.710 --> 00:07:23.670 align:start position:0% contract so I think what it's useful to do<00:07:20.830> is<00:07:20.980> to<00:07:21.100> quickly<00:07:21.370> look<00:07:21.700> through<00:07:22.560> what<00:07:23.560> are 00:07:23.670 --> 00:07:23.680 align:start position:0% do is to quickly look through what are 00:07:23.680 --> 00:07:24.900 align:start position:0% do is to quickly look through what are the<00:07:23.770> ways<00:07:23.920> to<00:07:23.950> approaches<00:07:24.550> what<00:07:24.730> are<00:07:24.850> the 00:07:24.900 --> 00:07:24.910 align:start position:0% the ways to approaches what are the 00:07:24.910 --> 00:07:26.850 align:start position:0% the ways to approaches what are the wrong<00:07:25.090> ways<00:07:25.270> what<00:07:25.480> are<00:07:25.570> the<00:07:25.630> right<00:07:25.780> ways<00:07:25.960> one 00:07:26.850 --> 00:07:26.860 align:start position:0% wrong ways what are the right ways one 00:07:26.860 --> 00:07:28.110 align:start position:0% wrong ways what are the right ways one of<00:07:26.890> the<00:07:27.070> ways<00:07:27.190> we<00:07:27.370> don't<00:07:27.550> think<00:07:27.760> people<00:07:27.970> should 00:07:28.110 --> 00:07:28.120 align:start position:0% of the ways we don't think people should 00:07:28.120 --> 00:07:29.730 align:start position:0% of the ways we don't think people should approach<00:07:28.480> this<00:07:28.750> is<00:07:29.110> we<00:07:29.290> don't<00:07:29.440> think<00:07:29.560> there 00:07:29.730 --> 00:07:29.740 align:start position:0% approach this is we don't think there 00:07:29.740 --> 00:07:31.560 align:start position:0% approach this is we don't think there should<00:07:29.770> be<00:07:29.920> a<00:07:30.010> single<00:07:30.430> node<00:07:30.610> right<00:07:31.210> we<00:07:31.420> don't 00:07:31.560 --> 00:07:31.570 align:start position:0% should be a single node right we don't 00:07:31.570 --> 00:07:34.350 align:start position:0% should be a single node right we don't think<00:07:31.810> that<00:07:32.400> we're<00:07:33.400> all<00:07:33.520> saying<00:07:33.790> that<00:07:34.030> smart 00:07:34.350 --> 00:07:34.360 align:start position:0% think that we're all saying that smart 00:07:34.360 --> 00:07:35.940 align:start position:0% think that we're all saying that smart contracts<00:07:34.870> are<00:07:34.960> highly<00:07:35.260> reliable<00:07:35.560> because 00:07:35.940 --> 00:07:35.950 align:start position:0% contracts are highly reliable because 00:07:35.950 --> 00:07:37.680 align:start position:0% contracts are highly reliable because they're<00:07:36.340> redundant<00:07:36.910> Lee<00:07:37.030> executed<00:07:37.600> on 00:07:37.680 --> 00:07:37.690 align:start position:0% they're redundant Lee executed on 00:07:37.690 --> 00:07:39.150 align:start position:0% they're redundant Lee executed on thousands<00:07:38.169> of<00:07:38.230> nodes<00:07:38.440> according<00:07:39.040> to<00:07:39.130> a 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about<00:07:53.700> if<00:07:54.700> you<00:07:55.210> have<00:07:55.390> that<00:07:55.570> highly 00:07:55.980 --> 00:07:55.990 align:start position:0% excited about if you have that highly 00:07:55.990 --> 00:07:57.510 align:start position:0% excited about if you have that highly reliable<00:07:56.230> agreement<00:07:56.770> triggered<00:07:57.010> by<00:07:57.130> a<00:07:57.160> single 00:07:57.510 --> 00:07:57.520 align:start position:0% reliable agreement triggered by a single 00:07:57.520 --> 00:07:59.340 align:start position:0% reliable agreement triggered by a single node<00:07:57.700> all<00:07:58.540> you<00:07:58.660> have<00:07:58.810> to<00:07:58.930> do<00:07:59.020> is<00:07:59.140> you<00:07:59.200> have<00:07:59.290> to 00:07:59.340 --> 00:07:59.350 align:start position:0% node all you have to do is you have to 00:07:59.350 --> 00:08:01.650 align:start position:0% node all you have to do is you have to take<00:07:59.530> out<00:07:59.680> that<00:07:59.800> one<00:07:59.950> note<00:08:00.210> this<00:08:01.210> is<00:08:01.390> kind<00:08:01.600> of 00:08:01.650 --> 00:08:01.660 align:start position:0% take out that one note this is kind of 00:08:01.660 --> 00:08:06.870 align:start position:0% take out that one note this is kind of the<00:08:01.810> fundamental<00:08:02.850> problem<00:08:03.850> that<00:08:05.880> basically 00:08:06.870 --> 00:08:06.880 align:start position:0% the fundamental problem that basically 00:08:06.880 --> 00:08:08.670 align:start position:0% the fundamental problem that basically needs<00:08:07.090> to<00:08:07.210> be<00:08:07.300> solved<00:08:07.630> because<00:08:07.750> knocking 00:08:08.670 --> 00:08:08.680 align:start position:0% needs to be solved because knocking 00:08:08.680 --> 00:08:09.930 align:start position:0% needs to be solved because knocking around<00:08:08.770> the<00:08:08.950> data<00:08:09.070> providers<00:08:09.550> that<00:08:09.700> have<00:08:09.790> been 00:08:09.930 --> 00:08:09.940 align:start position:0% around the data providers that have been 00:08:09.940 --> 00:08:12.450 align:start position:0% around the data providers that have been around<00:08:10.150> for<00:08:10.330> 30<00:08:10.510> 40<00:08:10.840> years<00:08:10.870> is<00:08:11.320> is<00:08:11.979> is<00:08:12.430> really 00:08:12.450 --> 00:08:12.460 align:start position:0% around for 30 40 years is is is really 00:08:12.460 --> 00:08:14.909 align:start position:0% around for 30 40 years is is is really difficult<00:08:13.030> knocking<00:08:13.660> on<00:08:13.780> the<00:08:14.020> smart<00:08:14.770> contract 00:08:14.909 --> 00:08:14.919 align:start position:0% difficult knocking on the smart contract 00:08:14.919 --> 00:08:16.650 align:start position:0% difficult knocking on the smart contract network<00:08:15.490> has<00:08:15.640> its<00:08:15.790> own<00:08:15.910> challenges<00:08:16.120> but 00:08:16.650 --> 00:08:16.660 align:start position:0% network has its own challenges but 00:08:16.660 --> 00:08:18.330 align:start position:0% network has its own challenges but taking<00:08:17.080> out<00:08:17.140> a<00:08:17.200> single<00:08:17.470> node<00:08:17.740> that<00:08:18.040> triggers 00:08:18.330 --> 00:08:18.340 align:start position:0% taking out a single node that triggers 00:08:18.340 --> 00:08:20.880 align:start position:0% taking out a single node that triggers your<00:08:18.460> contract<00:08:18.910> and<00:08:19.000> tells<00:08:19.240> it<00:08:19.390> something<00:08:19.890> is 00:08:20.880 --> 00:08:20.890 align:start position:0% your contract and tells it something is 00:08:20.890 --> 00:08:22.350 align:start position:0% your contract and tells it something is not<00:08:21.130> a<00:08:21.190> particularly<00:08:21.640> difficult<00:08:21.910> proposition 00:08:22.350 --> 00:08:22.360 align:start position:0% not a particularly difficult proposition 00:08:22.360 --> 00:08:26.370 align:start position:0% not a particularly difficult proposition right<00:08:23.080> so<00:08:23.919> the<00:08:24.669> the<00:08:24.700> logical<00:08:25.630> approach<00:08:25.750> from 00:08:26.370 --> 00:08:26.380 align:start position:0% right so the the logical approach from 00:08:26.380 --> 00:08:28.170 align:start position:0% right so the the logical approach from our<00:08:26.530> space<00:08:26.800> is<00:08:26.979> perspective<00:08:27.520> to<00:08:27.640> this<00:08:27.760> problem 00:08:28.170 --> 00:08:28.180 align:start position:0% our space is perspective to this problem 00:08:28.180 --> 00:08:30.659 align:start position:0% our space is perspective to this problem is<00:08:28.450> basically<00:08:28.810> the<00:08:29.140> essential<00:08:29.520> just<00:08:30.520> like 00:08:30.659 --> 00:08:30.669 align:start position:0% is basically the essential just like 00:08:30.669 --> 00:08:32.370 align:start position:0% is basically the essential just like you've<00:08:30.850> paid<00:08:31.120> thousands<00:08:31.690> of<00:08:31.780> nodes<00:08:31.960> to<00:08:32.260> do 00:08:32.370 --> 00:08:32.380 align:start position:0% you've paid thousands of nodes to do 00:08:32.380 --> 00:08:34.770 align:start position:0% you've paid thousands of nodes to do redundant<00:08:32.950> computations<00:08:33.669> to<00:08:33.909> guarantee 00:08:34.770 --> 00:08:34.780 align:start position:0% redundant computations to guarantee 00:08:34.780 --> 00:08:37.380 align:start position:0% redundant computations to guarantee Turman<00:08:35.409> ism<00:08:35.620> of<00:08:35.710> your<00:08:35.860> contract<00:08:36.370> code<00:08:36.580> you 00:08:37.380 --> 00:08:37.390 align:start position:0% Turman ism of your contract code you 00:08:37.390 --> 00:08:39.630 align:start position:0% Turman ism of your contract code you should<00:08:37.419> be<00:08:37.719> able<00:08:37.810> to<00:08:37.960> pay<00:08:38.490> hundreds<00:08:39.490> or 00:08:39.630 --> 00:08:39.640 align:start position:0% should be able to pay hundreds or 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position:0% guarantee that that input is going to reliably<00:08:45.880> trigger<00:08:46.180> your<00:08:46.390> contract 00:08:47.570 --> 00:08:47.580 align:start position:0% reliably trigger your contract 00:08:47.580 --> 00:08:49.380 align:start position:0% reliably trigger your contract essentially<00:08:48.580> that's<00:08:48.700> the<00:08:48.820> basis<00:08:49.180> of<00:08:49.270> our 00:08:49.380 --> 00:08:49.390 align:start position:0% essentially that's the basis of our 00:08:49.390 --> 00:08:50.790 align:start position:0% essentially that's the basis of our approach<00:08:49.660> the<00:08:49.870> basis<00:08:50.140> of<00:08:50.170> our<00:08:50.320> approaches 00:08:50.790 --> 00:08:50.800 align:start position:0% approach the basis of our approaches 00:08:50.800 --> 00:08:53.550 align:start position:0% approach the basis of our approaches would<00:08:51.700> be<00:08:51.880> able<00:08:52.030> to<00:08:52.209> pay<00:08:52.510> for<00:08:52.780> however<00:08:53.260> much 00:08:53.550 --> 00:08:53.560 align:start position:0% would be able to pay for however much 00:08:53.560 --> 00:08:55.480 align:start position:0% would be able to pay for however much decentralization<00:08:54.220> they<00:08:54.490> want<00:08:54.700> to<00:08:54.760> pay<00:08:54.910> for 00:08:55.480 --> 00:08:55.490 align:start position:0% decentralization they want to pay for 00:08:55.490 --> 00:08:58.569 align:start position:0% decentralization they want to pay for to<00:08:55.879> reliably<00:08:56.480> trigger<00:08:56.839> their<00:08:57.050> contract<00:08:57.579> right 00:08:58.569 --> 00:08:58.579 align:start position:0% to reliably trigger their contract right 00:08:58.579 --> 00:09:01.449 align:start position:0% to reliably trigger their contract right however<00:08:58.910> it<00:08:59.810> to<00:09:00.110> be<00:09:00.620> comfortable<00:09:01.129> about 00:09:01.449 --> 00:09:01.459 align:start position:0% however it to be comfortable about 00:09:01.459 --> 00:09:03.340 align:start position:0% however it to be comfortable about triggering<00:09:01.939> their<00:09:02.089> contract<00:09:02.569> they<00:09:03.139> should 00:09:03.340 --> 00:09:03.350 align:start position:0% triggering their contract they should 00:09:03.350 --> 00:09:05.920 align:start position:0% triggering their contract they should reliably<00:09:03.769> say<00:09:04.069> I<00:09:04.100> want<00:09:04.579> this<00:09:04.790> many<00:09:04.999> notes<00:09:05.269> to 00:09:05.920 --> 00:09:05.930 align:start position:0% reliably say I want this many notes to 00:09:05.930 --> 00:09:07.449 align:start position:0% reliably say I want this many notes to reliably<00:09:06.319> trigger<00:09:06.589> my<00:09:06.709> contract<00:09:07.189> on<00:09:07.370> the 00:09:07.449 --> 00:09:07.459 align:start position:0% reliably trigger my contract on the 00:09:07.459 --> 00:09:08.650 align:start position:0% reliably trigger my contract on the basis<00:09:07.730> of<00:09:07.759> this<00:09:07.999> or<00:09:08.240> that<00:09:08.269> or<00:09:08.569> whatever 00:09:08.650 --> 00:09:08.660 align:start position:0% basis of this or that or whatever 00:09:08.660 --> 00:09:13.600 align:start position:0% basis of this or that or whatever collection<00:09:09.230> of<00:09:09.350> data<00:09:10.329> now<00:09:11.329> I<00:09:12.490> think<00:09:13.490> the 00:09:13.600 --> 00:09:13.610 align:start position:0% collection of data now I think the 00:09:13.610 --> 00:09:15.009 align:start position:0% collection of data now I think the useful<00:09:13.939> thing<00:09:14.059> is<00:09:14.209> to<00:09:14.329> look<00:09:14.480> at<00:09:14.629> how<00:09:14.779> this 00:09:15.009 --> 00:09:15.019 align:start position:0% useful thing is to look at how this 00:09:15.019 --> 00:09:18.189 align:start position:0% useful thing is to look at how this would<00:09:15.920> function<00:09:16.129> in<00:09:16.370> practice<00:09:16.930> so<00:09:17.930> in 00:09:18.189 --> 00:09:18.199 align:start position:0% would function in practice so in 00:09:18.199 --> 00:09:20.350 align:start position:0% would function in practice so in practice<00:09:18.829> as<00:09:19.069> an<00:09:19.249> example<00:09:19.579> if<00:09:20.029> we<00:09:20.240> took 00:09:20.350 --> 00:09:20.360 align:start position:0% practice as an example if we took 00:09:20.360 --> 00:09:24.910 align:start position:0% practice as an example if we took contract<00:09:20.990> for<00:09:21.290> payment<00:09:23.290> excuse<00:09:24.290> me<00:09:24.470> we'll<00:09:24.709> see 00:09:24.910 --> 00:09:24.920 align:start position:0% contract for payment excuse me we'll see 00:09:24.920 --> 00:09:27.489 align:start position:0% contract for payment excuse me we'll see that<00:09:25.100> basically<00:09:25.699> we<00:09:26.149> can<00:09:26.300> even<00:09:26.809> today<00:09:27.139> we<00:09:27.290> have 00:09:27.489 --> 00:09:27.499 align:start position:0% that basically we can even today we have 00:09:27.499 --> 00:09:31.869 align:start position:0% that basically we can even today we have multiple<00:09:28.069> chained<00:09:28.309> up<00:09:30.370> two<00:09:31.370> of<00:09:31.490> those<00:09:31.610> chain 00:09:31.869 --> 00:09:31.879 align:start position:0% multiple chained up two of those chain 00:09:31.879 --> 00:09:34.150 align:start position:0% multiple chained up two of those chain links<00:09:32.180> can<00:09:32.899> verify<00:09:33.170> that<00:09:33.410> something<00:09:33.889> has<00:09:34.009> been 00:09:34.150 --> 00:09:34.160 align:start position:0% links can verify that something has been 00:09:34.160 --> 00:09:39.090 align:start position:0% links can verify that something has been delivered<00:09:36.579> verify<00:09:37.579> that<00:09:37.879> a<00:09:38.120> contract 00:09:39.090 --> 00:09:39.100 align:start position:0% delivered verify that a contract 00:09:39.100 --> 00:09:42.699 align:start position:0% delivered verify that a contract indeed<00:09:40.100> bill<00:09:40.279> fulfilled<00:09:40.639> well<00:09:41.410> you<00:09:42.410> can<00:09:42.559> have 00:09:42.699 --> 00:09:42.709 align:start position:0% indeed bill fulfilled well you can have 00:09:42.709 --> 00:09:46.749 align:start position:0% indeed bill fulfilled well you can have them<00:09:42.889> both<00:09:43.129> verify<00:09:43.999> as<00:09:44.149> a<00:09:44.180> condition<00:09:45.759> excuse 00:09:46.749 --> 00:09:46.759 align:start position:0% them both verify as a condition excuse 00:09:46.759 --> 00:09:49.269 align:start position:0% them both verify as a condition excuse me<00:09:46.910> you<00:09:47.209> can<00:09:47.360> have<00:09:47.569> one<00:09:48.379> of<00:09:48.410> them<00:09:48.620> verify<00:09:49.069> and 00:09:49.269 --> 00:09:49.279 align:start position:0% me you can have one of them verify and 00:09:49.279 --> 00:09:50.799 align:start position:0% me you can have one of them verify and another<00:09:49.490> one<00:09:49.670> be<00:09:49.790> a<00:09:49.819> fallback<00:09:50.149> or<00:09:50.569> an<00:09:50.660> error 00:09:50.799 --> 00:09:50.809 align:start position:0% another one be a fallback or an error 00:09:50.809 --> 00:09:53.799 align:start position:0% another one be a fallback or an error checking<00:09:51.110> system<00:09:51.589> basically<00:09:52.579> you<00:09:53.360> you<00:09:53.629> can 00:09:53.799 --> 00:09:53.809 align:start position:0% checking system basically you you can 00:09:53.809 --> 00:09:55.329 align:start position:0% checking system basically you you can reach<00:09:53.959> out<00:09:54.110> to<00:09:54.139> multiple<00:09:54.559> data<00:09:54.680> sources<00:09:55.069> to 00:09:55.329 --> 00:09:55.339 align:start position:0% reach out to multiple data sources to 00:09:55.339 --> 00:09:57.340 align:start position:0% reach out to multiple data sources to make<00:09:55.490> sure<00:09:55.730> that<00:09:55.910> the<00:09:56.149> event<00:09:56.480> contract<00:09:57.170> is 00:09:57.340 --> 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about has actually happened you commonly need<00:10:04.519> to<00:10:04.670> calculate<00:10:04.910> a<00:10:05.420> price<00:10:05.689> you're<00:10:05.930> gonna 00:10:06.009 --> 00:10:06.019 align:start position:0% need to calculate a price you're gonna 00:10:06.019 --> 00:10:08.530 align:start position:0% need to calculate a price you're gonna pay<00:10:06.139> you<00:10:07.100> need<00:10:07.279> to<00:10:07.399> know<00:10:07.519> market<00:10:08.000> data<00:10:08.149> you 00:10:08.530 --> 00:10:08.540 align:start position:0% pay you need to know market data you 00:10:08.540 --> 00:10:10.629 align:start position:0% pay you need to know market data you need<00:10:08.720> to<00:10:08.870> know<00:10:08.990> how<00:10:09.589> much<00:10:09.769> should<00:10:10.040> I<00:10:10.100> be<00:10:10.279> paying 00:10:10.629 --> 00:10:10.639 align:start position:0% need to know how much should I be paying 00:10:10.639 --> 00:10:13.629 align:start position:0% need to know how much should I be paying for<00:10:11.360> this<00:10:11.540> contract<00:10:12.079> to<00:10:12.259> be<00:10:12.559> finalized<00:10:13.069> on 00:10:13.629 --> 00:10:13.639 align:start position:0% for this contract to be finalized on 00:10:13.639 --> 00:10:16.929 align:start position:0% for this contract to be finalized on that<00:10:14.389> dimension<00:10:14.980> we<00:10:15.980> basically<00:10:16.459> even<00:10:16.730> today 00:10:16.929 --> 00:10:16.939 align:start position:0% that dimension we basically even today 00:10:16.939 --> 00:10:18.850 align:start position:0% that dimension we basically even today can<00:10:17.389> provide<00:10:17.660> you<00:10:17.839> with<00:10:17.990> three<00:10:18.290> or<00:10:18.800> more 00:10:18.850 --> 00:10:18.860 align:start position:0% can provide you with three or more 00:10:18.860 --> 00:10:21.759 align:start position:0% can provide you with three or more separate<00:10:19.959> independent<00:10:20.959> independently<00:10:21.649> run 00:10:21.759 --> 00:10:21.769 align:start position:0% separate independent independently run 00:10:21.769 --> 00:10:24.999 align:start position:0% separate independent independently run notes<00:10:22.100> notes<00:10:23.059> that<00:10:23.449> provide<00:10:24.050> market<00:10:24.559> data<00:10:24.709> and 00:10:24.999 --> 00:10:25.009 align:start position:0% notes notes that provide market data and 00:10:25.009 --> 00:10:29.350 align:start position:0% notes notes that provide market data and those<00:10:26.000> those<00:10:26.990> market<00:10:27.410> data<00:10:27.850> kind<00:10:28.850> of<00:10:28.970> inputs 00:10:29.350 --> 00:10:29.360 align:start position:0% those those market data kind of inputs 00:10:29.360 --> 00:10:31.710 align:start position:0% those those market data kind of inputs can<00:10:29.600> be<00:10:29.629> aggregated<00:10:30.019> into<00:10:30.470> a<00:10:30.620> highly<00:10:31.040> reliable 00:10:31.710 --> 00:10:31.720 align:start position:0% can be aggregated into a highly reliable 00:10:31.720 --> 00:10:35.319 align:start position:0% can be aggregated into a highly reliable proof<00:10:32.720> of<00:10:32.930> what<00:10:33.529> the<00:10:33.649> price<00:10:33.860> actually<00:10:34.129> is<00:10:34.430> so 00:10:35.319 --> 00:10:35.329 align:start position:0% proof of what the price actually is so 00:10:35.329 --> 00:10:38.949 align:start position:0% proof of what the price actually is so in<00:10:35.660> this<00:10:35.930> example<00:10:36.079> you<00:10:36.439> see<00:10:37.179> highly<00:10:38.179> reliable 00:10:38.949 --> 00:10:38.959 align:start position:0% in this example you see highly reliable 00:10:38.959 --> 00:10:41.019 align:start position:0% in this example you see highly reliable proof<00:10:39.920> that<00:10:40.189> something<00:10:40.550> has<00:10:40.639> happened<00:10:40.670> that 00:10:41.019 --> 00:10:41.029 align:start position:0% proof that something has happened that 00:10:41.029 --> 00:10:42.129 align:start position:0% proof that something has happened that the<00:10:41.209> contract<00:10:41.629> really<00:10:41.779> cares<00:10:42.050> about 00:10:42.129 --> 00:10:42.139 align:start position:0% the contract really cares about 00:10:42.139 --> 00:10:43.809 align:start position:0% the contract really cares about essentially<00:10:43.009> what<00:10:43.129> the<00:10:43.189> contract<00:10:43.579> is<00:10:43.699> about 00:10:43.809 --> 00:10:43.819 align:start position:0% essentially what the contract is about 00:10:43.819 --> 00:10:46.509 align:start position:0% essentially what the contract is about basically<00:10:44.629> delivery<00:10:45.079> and<00:10:45.350> then<00:10:46.009> you<00:10:46.189> can<00:10:46.339> see 00:10:46.509 --> 00:10:46.519 align:start position:0% basically delivery and then you can see 00:10:46.519 --> 00:10:49.240 align:start position:0% basically delivery and then you can see that<00:10:46.730> there's<00:10:46.939> multiple<00:10:47.439> data<00:10:48.439> providers<00:10:48.949> and 00:10:49.240 --> 00:10:49.250 align:start position:0% that there's multiple data providers and 00:10:49.250 --> 00:10:51.189 align:start position:0% that there's multiple data providers and multiple<00:10:49.699> node<00:10:49.850> operators<00:10:50.389> providing<00:10:51.050> a 00:10:51.189 --> 00:10:51.199 align:start position:0% multiple node operators providing a 00:10:51.199 --> 00:10:53.619 align:start position:0% multiple node operators providing a highly<00:10:51.589> reliable<00:10:51.860> input<00:10:52.459> about<00:10:53.179> how<00:10:53.329> much<00:10:53.509> the 00:10:53.619 --> 00:10:53.629 align:start position:0% highly reliable input about how much the 00:10:53.629 --> 00:10:56.679 align:start position:0% highly reliable input about how much the contract<00:10:54.050> should<00:10:54.199> pay<00:10:55.269> and<00:10:56.269> then<00:10:56.420> you<00:10:56.449> would 00:10:56.679 --> 00:10:56.689 align:start position:0% contract should pay and then you would 00:10:56.689 --> 00:10:58.269 align:start position:0% contract should pay and then you would need<00:10:56.839> some<00:10:57.589> kind<00:10:57.620> of<00:10:57.889> note<00:10:58.040> that's 00:10:58.269 --> 00:10:58.279 align:start position:0% need some kind of note that's 00:10:58.279 --> 00:11:01.900 align:start position:0% need some kind of note that's responsible<00:10:58.879> for<00:11:00.069> paying<00:11:01.069> in<00:11:01.399> the<00:11:01.639> relevant 00:11:01.900 --> 00:11:01.910 align:start position:0% responsible for paying in the relevant 00:11:01.910 --> 00:11:03.999 align:start position:0% responsible for paying in the relevant system<00:11:02.420> in<00:11:02.959> this<00:11:03.110> case<00:11:03.290> if<00:11:03.470> you<00:11:03.529> wanted<00:11:03.740> to<00:11:03.860> pay 00:11:03.999 --> 00:11:04.009 align:start position:0% system in this case if you wanted to pay 00:11:04.009 --> 00:11:06.160 align:start position:0% system in this case if you wanted to pay out<00:11:04.160> the<00:11:04.550> contract<00:11:04.970> in<00:11:05.120> Bitcoin<00:11:05.509> you<00:11:06.050> would 00:11:06.160 --> 00:11:06.170 align:start position:0% out the contract in Bitcoin you would 00:11:06.170 --> 00:11:07.509 align:start position:0% out the contract in Bitcoin you would calculate<00:11:06.350> the<00:11:06.709> price<00:11:06.889> of<00:11:07.040> a<00:11:07.129> point<00:11:07.370> at<00:11:07.459> the 00:11:07.509 --> 00:11:07.519 align:start position:0% calculate the price of a point at the 00:11:07.519 --> 00:11:08.679 align:start position:0% calculate the price of a point at the time<00:11:07.730> you<00:11:07.970> would<00:11:08.089> know<00:11:08.179> how<00:11:08.300> much<00:11:08.360> you<00:11:08.540> have<00:11:08.660> to 00:11:08.679 --> 00:11:08.689 align:start position:0% time you would know how much you have to 00:11:08.689 --> 00:11:09.190 align:start position:0% time you would know how much you have to pay 00:11:09.190 --> 00:11:09.200 align:start position:0% pay 00:11:09.200 --> 00:11:10.750 align:start position:0% pay and<00:11:09.290> you'll<00:11:09.529> be<00:11:09.649> able<00:11:09.709> to<00:11:09.889> sign<00:11:10.040> a<00:11:10.100> transaction 00:11:10.750 --> 00:11:10.760 align:start position:0% and you'll be able to sign a transaction 00:11:10.760 --> 00:11:12.730 align:start position:0% and you'll be able to sign a transaction that<00:11:10.790> pays<00:11:11.120> out<00:11:11.450> that<00:11:11.750> contract<00:11:12.230> in<00:11:12.350> Bitcoin 00:11:12.730 --> 00:11:12.740 align:start position:0% that pays out that contract in Bitcoin 00:11:12.740 --> 00:11:14.920 align:start position:0% that pays out that contract in Bitcoin or<00:11:13.010> dollars<00:11:13.850> or<00:11:14.029> yen<00:11:14.209> or<00:11:14.389> whatever<00:11:14.660> whatever 00:11:14.920 --> 00:11:14.930 align:start position:0% or dollars or yen or whatever whatever 00:11:14.930 --> 00:11:17.110 align:start position:0% or dollars or yen or whatever whatever currency<00:11:15.350> you<00:11:15.500> want<00:11:15.560> so<00:11:16.550> you<00:11:17.029> know 00:11:17.110 --> 00:11:17.120 align:start position:0% currency you want so you know 00:11:17.120 --> 00:11:18.670 align:start position:0% currency you want so you know fundamentally<00:11:17.779> this<00:11:17.930> is<00:11:17.990> kind<00:11:18.320> of<00:11:18.440> the<00:11:18.529> base 00:11:18.670 --> 00:11:18.680 align:start position:0% fundamentally this is kind of the base 00:11:18.680 --> 00:11:21.519 align:start position:0% fundamentally this is kind of the base use<00:11:18.950> case<00:11:19.190> of<00:11:19.459> I've<00:11:19.810> reliably<00:11:20.810> proven<00:11:21.320> that<00:11:21.410> an 00:11:21.519 --> 00:11:21.529 align:start position:0% use case of I've reliably proven that an 00:11:21.529 --> 00:11:24.430 align:start position:0% use case of I've reliably proven that an input<00:11:21.860> is<00:11:22.010> true<00:11:22.310> and<00:11:22.610> I<00:11:23.269> have<00:11:23.440> functionality 00:11:24.430 --> 00:11:24.440 align:start position:0% input is true and I have functionality 00:11:24.440 --> 00:11:27.699 align:start position:0% input is true and I have functionality to<00:11:24.680> pay<00:11:24.920> people<00:11:25.190> and<00:11:25.639> enact<00:11:26.709> contract 00:11:27.699 --> 00:11:27.709 align:start position:0% to pay people and enact contract 00:11:27.709 --> 00:11:30.490 align:start position:0% to pay people and enact contract outcomes<00:11:28.550> in<00:11:28.880> places<00:11:29.750> that<00:11:29.870> people<00:11:30.019> want<00:11:30.320> me 00:11:30.490 --> 00:11:30.500 align:start position:0% outcomes in places that people want me 00:11:30.500 --> 00:11:32.410 align:start position:0% outcomes in places that people want me to<00:11:30.620> have<00:11:30.740> those<00:11:30.920> outcomes<00:11:31.130> happen<00:11:31.699> right<00:11:32.180> so 00:11:32.410 --> 00:11:32.420 align:start position:0% to have those outcomes happen right so 00:11:32.420 --> 00:11:35.829 align:start position:0% to have those outcomes happen right so this<00:11:32.540> is<00:11:32.600> kind<00:11:32.779> of<00:11:33.019> the<00:11:33.529> fundamental<00:11:34.839> initial 00:11:35.829 --> 00:11:35.839 align:start position:0% this is kind of the fundamental initial 00:11:35.839 --> 00:11:39.250 align:start position:0% this is kind of the fundamental initial value<00:11:36.170> and<00:11:36.579> the<00:11:37.579> focus<00:11:37.910> of<00:11:38.180> our<00:11:38.750> work<00:11:38.779> at<00:11:39.110> this 00:11:39.250 --> 00:11:39.260 align:start position:0% value and the focus of our work at this 00:11:39.260 --> 00:11:41.379 align:start position:0% value and the focus of our work at this point<00:11:39.529> is<00:11:39.740> basically<00:11:40.279> creating<00:11:40.880> hundreds 00:11:41.379 --> 00:11:41.389 align:start position:0% point is basically creating hundreds 00:11:41.389 --> 00:11:43.870 align:start position:0% point is basically creating hundreds upon<00:11:41.510> hundreds<00:11:41.990> of<00:11:42.079> chain<00:11:42.290> links<00:11:42.880> present 00:11:43.870 --> 00:11:43.880 align:start position:0% upon hundreds of chain links present 00:11:43.880 --> 00:11:46.240 align:start position:0% upon hundreds of chain links present every<00:11:44.389> service<00:11:44.899> that<00:11:45.620> a<00:11:45.649> smart<00:11:46.010> contract 00:11:46.240 --> 00:11:46.250 align:start position:0% every service that a smart contract 00:11:46.250 --> 00:11:49.150 align:start position:0% every service that a smart contract develop<00:11:47.149> want<00:11:47.600> so<00:11:48.350> the<00:11:48.500> way<00:11:48.649> the<00:11:48.800> world<00:11:49.010> really 00:11:49.150 --> 00:11:49.160 align:start position:0% develop want so the way the world really 00:11:49.160 --> 00:11:51.490 align:start position:0% develop want so the way the world really should<00:11:49.550> look<00:11:49.699> is<00:11:49.910> very<00:11:50.750> similar<00:11:51.050> to<00:11:51.199> the<00:11:51.380> web 00:11:51.490 --> 00:11:51.500 align:start position:0% should look is very similar to the web 00:11:51.500 --> 00:11:52.660 align:start position:0% should look is very similar to the web development<00:11:51.889> world<00:11:52.100> so<00:11:52.399> in<00:11:52.459> the<00:11:52.550> web 00:11:52.660 --> 00:11:52.670 align:start position:0% development world so in the web 00:11:52.670 --> 00:11:53.860 align:start position:0% development world so in the web development<00:11:53.029> world<00:11:53.329> if<00:11:53.449> I<00:11:53.540> want<00:11:53.720> to<00:11:53.810> build 00:11:53.860 --> 00:11:53.870 align:start position:0% development world if I want to build 00:11:53.870 --> 00:11:56.170 align:start position:0% development world if I want to build Ebor<00:11:54.260> I<00:11:54.470> write<00:11:54.980> my<00:11:55.100> corporate<00:11:55.519> code<00:11:55.730> and<00:11:56.000> I<00:11:56.060> go 00:11:56.170 --> 00:11:56.180 align:start position:0% Ebor I write my corporate code and I go 00:11:56.180 --> 00:11:59.350 align:start position:0% Ebor I write my corporate code and I go to<00:11:56.240> a<00:11:56.329> GPS<00:11:56.839> API<00:11:57.410> and<00:11:57.740> SMS<00:11:58.190> API<00:11:58.370> and<00:11:58.970> a<00:11:59.029> payments 00:11:59.350 --> 00:11:59.360 align:start position:0% to a GPS API and SMS API and a payments 00:11:59.360 --> 00:12:02.139 align:start position:0% to a GPS API and SMS API and a payments API<00:11:59.480> and<00:11:59.990> in<00:12:00.649> a<00:12:00.709> week<00:12:00.829> I<00:12:00.980> have<00:12:01.010> some<00:12:01.370> VP<00:12:01.760> of<00:12:01.880> uber 00:12:02.139 --> 00:12:02.149 align:start position:0% API and in a week I have some VP of uber 00:12:02.149 --> 00:12:04.870 align:start position:0% API and in a week I have some VP of uber running<00:12:02.449> right<00:12:02.930> you<00:12:03.649> can't<00:12:04.040> do<00:12:04.190> that<00:12:04.310> today<00:12:04.579> in 00:12:04.870 --> 00:12:04.880 align:start position:0% running right you can't do that today in 00:12:04.880 --> 00:12:06.970 align:start position:0% running right you can't do that today in smart<00:12:05.300> contract<00:12:05.690> land<00:12:05.930> we're<00:12:06.649> basically 00:12:06.970 --> 00:12:06.980 align:start position:0% smart contract land we're basically 00:12:06.980 --> 00:12:08.889 align:start position:0% smart contract land we're basically saying<00:12:07.279> that's<00:12:07.519> the<00:12:07.730> problem<00:12:07.970> the<00:12:08.540> problem 00:12:08.889 --> 00:12:08.899 align:start position:0% saying that's the problem the problem 00:12:08.899 --> 00:12:10.509 align:start position:0% saying that's the problem the problem there's<00:12:09.050> a<00:12:09.139> lot<00:12:09.350> of<00:12:09.500> people<00:12:09.680> that<00:12:10.339> want<00:12:10.490> to 00:12:10.509 --> 00:12:10.519 align:start position:0% there's a lot of people that want to 00:12:10.519 --> 00:12:12.579 align:start position:0% there's a lot of people that want to build<00:12:10.639> great<00:12:10.880> things<00:12:11.180> that<00:12:11.690> are<00:12:11.839> alike<00:12:12.350> or 00:12:12.579 --> 00:12:12.589 align:start position:0% build great things that are alike or 00:12:12.589 --> 00:12:14.110 align:start position:0% build great things that are alike or better<00:12:12.769> or<00:12:13.040> you<00:12:13.220> know<00:12:13.339> fantastic 00:12:14.110 --> 00:12:14.120 align:start position:0% better or you know fantastic 00:12:14.120 --> 00:12:16.420 align:start position:0% better or you know fantastic applications<00:12:14.959> but<00:12:15.769> they're<00:12:15.980> at<00:12:16.070> the<00:12:16.160> point 00:12:16.420 --> 00:12:16.430 align:start position:0% applications but they're at the point 00:12:16.430 --> 00:12:17.980 align:start position:0% applications but they're at the point where<00:12:16.610> they<00:12:16.820> can<00:12:16.940> write<00:12:17.089> their<00:12:17.209> core<00:12:17.420> code<00:12:17.690> and 00:12:17.980 --> 00:12:17.990 align:start position:0% where they can write their core code and 00:12:17.990 --> 00:12:20.439 align:start position:0% where they can write their core code and they<00:12:18.560> don't<00:12:18.709> have<00:12:18.890> a<00:12:18.920> GPS<00:12:19.160> API<00:12:19.699> or<00:12:19.970> SMS 00:12:20.439 --> 00:12:20.449 align:start position:0% they don't have a GPS API or SMS 00:12:20.449 --> 00:12:22.180 align:start position:0% they don't have a GPS API or SMS capability<00:12:21.050> or<00:12:21.140> a<00:12:21.170> payments<00:12:21.560> capability<00:12:22.100> and 00:12:22.180 --> 00:12:22.190 align:start position:0% capability or a payments capability and 00:12:22.190 --> 00:12:23.380 align:start position:0% capability or a payments capability and they<00:12:22.279> have<00:12:22.370> to<00:12:22.459> figure<00:12:22.670> all<00:12:22.699> that<00:12:22.820> out<00:12:22.970> and 00:12:23.380 --> 00:12:23.390 align:start position:0% they have to figure all that out and 00:12:23.390 --> 00:12:25.780 align:start position:0% they have to figure all that out and that's<00:12:24.199> just<00:12:24.410> too<00:12:24.529> much<00:12:24.680> right<00:12:25.250> so<00:12:25.459> if<00:12:25.550> we<00:12:25.640> can 00:12:25.780 --> 00:12:25.790 align:start position:0% that's just too much right so if we can 00:12:25.790 --> 00:12:27.069 align:start position:0% that's just too much right so if we can just<00:12:25.910> give<00:12:26.120> them<00:12:26.300> all<00:12:26.449> the<00:12:26.600> inputs<00:12:26.990> and 00:12:27.069 --> 00:12:27.079 align:start position:0% just give them all the inputs and 00:12:27.079 --> 00:12:29.319 align:start position:0% just give them all the inputs and outputs<00:12:27.170> they<00:12:27.620> need<00:12:27.800> to<00:12:27.920> combine<00:12:28.329> around 00:12:29.319 --> 00:12:29.329 align:start position:0% outputs they need to combine around 00:12:29.329 --> 00:12:31.269 align:start position:0% outputs they need to combine around their<00:12:29.480> core<00:12:29.690> code<00:12:29.959> we<00:12:30.589> can<00:12:30.769> get<00:12:30.920> to<00:12:31.040> a<00:12:31.070> place 00:12:31.269 --> 00:12:31.279 align:start position:0% their core code we can get to a place 00:12:31.279 --> 00:12:33.519 align:start position:0% their core code we can get to a place where<00:12:31.579> smart<00:12:31.790> contract<00:12:32.269> development<00:12:32.810> happens 00:12:33.519 --> 00:12:33.529 align:start position:0% where smart contract development happens 00:12:33.529 --> 00:12:36.250 align:start position:0% where smart contract development happens as<00:12:33.680> quickly<00:12:34.070> and<00:12:34.459> as<00:12:34.850> high<00:12:35.120> level<00:12:35.420> of<00:12:35.540> quality 00:12:36.250 --> 00:12:36.260 align:start position:0% as quickly and as high level of quality 00:12:36.260 --> 00:12:38.650 align:start position:0% as quickly and as high level of quality as<00:12:36.500> web<00:12:36.949> development<00:12:37.339> and<00:12:37.670> then<00:12:38.180> we<00:12:38.329> can<00:12:38.449> just 00:12:38.650 --> 00:12:38.660 align:start position:0% as web development and then we can just 00:12:38.660 --> 00:12:41.139 align:start position:0% as web development and then we can just see<00:12:38.810> a<00:12:39.079> lot<00:12:39.890> of<00:12:40.040> interesting<00:12:40.459> use<00:12:40.610> cases<00:12:40.850> come 00:12:41.139 --> 00:12:41.149 align:start position:0% see a lot of interesting use cases come 00:12:41.149 --> 00:12:44.560 align:start position:0% see a lot of interesting use cases come to<00:12:41.180> life<00:12:41.420> in<00:12:41.860> in<00:12:42.860> you<00:12:43.339> know<00:12:43.430> days<00:12:43.640> weeks<00:12:44.060> you 00:12:44.560 --> 00:12:44.570 align:start position:0% to life in in you know days weeks you 00:12:44.570 --> 00:12:45.730 align:start position:0% to life in in you know days weeks you know<00:12:44.690> how<00:12:44.839> long<00:12:45.140> does<00:12:45.230> it<00:12:45.290> really<00:12:45.500> take<00:12:45.709> to 00:12:45.730 --> 00:12:45.740 align:start position:0% know how long does it really take to 00:12:45.740 --> 00:12:47.319 align:start position:0% know how long does it really take to build<00:12:45.949> an<00:12:46.100> MVP<00:12:46.399> of<00:12:46.490> uber<00:12:46.730> with<00:12:46.850> some<00:12:47.000> api's 00:12:47.319 --> 00:12:47.329 align:start position:0% build an MVP of uber with some api's 00:12:47.329 --> 00:12:49.509 align:start position:0% build an MVP of uber with some api's right<00:12:47.930> it<00:12:48.560> doesn't<00:12:48.949> it<00:12:49.130> doesn't<00:12:49.279> take<00:12:49.490> that 00:12:49.509 --> 00:12:49.519 align:start position:0% right it doesn't it doesn't take that 00:12:49.519 --> 00:12:51.220 align:start position:0% right it doesn't it doesn't take that long<00:12:49.670> if<00:12:49.880> you<00:12:50.120> have<00:12:50.300> the<00:12:50.449> necessary<00:12:50.600> building 00:12:51.220 --> 00:12:51.230 align:start position:0% long if you have the necessary building 00:12:51.230 --> 00:12:55.480 align:start position:0% long if you have the necessary building blocks<00:12:52.810> so<00:12:53.810> that<00:12:54.649> the<00:12:54.769> basis<00:12:55.069> of<00:12:55.130> our<00:12:55.250> approach 00:12:55.480 --> 00:12:55.490 align:start position:0% blocks so that the basis of our approach 00:12:55.490 --> 00:12:56.920 align:start position:0% blocks so that the basis of our approach is<00:12:55.670> the<00:12:55.790> centralization<00:12:56.180> and<00:12:56.660> then<00:12:56.750> making 00:12:56.920 --> 00:12:56.930 align:start position:0% is the centralization and then making 00:12:56.930 --> 00:12:58.990 align:start position:0% is the centralization and then making sure<00:12:57.050> that<00:12:57.440> smart<00:12:57.980> contract<00:12:58.370> developers<00:12:58.819> have 00:12:58.990 --> 00:12:59.000 align:start position:0% sure that smart contract developers have 00:12:59.000 --> 00:13:00.280 align:start position:0% sure that smart contract developers have the<00:12:59.149> large<00:12:59.329> collection<00:12:59.810> of<00:12:59.899> inputs<00:13:00.230> and 00:13:00.280 --> 00:13:00.290 align:start position:0% the large collection of inputs and 00:13:00.290 --> 00:13:01.600 align:start position:0% the large collection of inputs and outputs<00:13:00.620> they<00:13:00.769> need<00:13:00.949> to<00:13:01.100> build<00:13:01.250> something 00:13:01.600 --> 00:13:01.610 align:start position:0% outputs they need to build something 00:13:01.610 --> 00:13:03.790 align:start position:0% outputs they need to build something R'lyeh<00:13:02.000> was<00:13:02.420> build<00:13:02.660> something<00:13:03.050> that<00:13:03.170> truly 00:13:03.790 --> 00:13:03.800 align:start position:0% R'lyeh was build something that truly 00:13:03.800 --> 00:13:07.240 align:start position:0% R'lyeh was build something that truly provides<00:13:04.220> value<00:13:04.640> and<00:13:04.930> the<00:13:05.930> second<00:13:06.319> part<00:13:07.130> of 00:13:07.240 --> 00:13:07.250 align:start position:0% provides value and the second part of 00:13:07.250 --> 00:13:08.920 align:start position:0% provides value and the second part of our<00:13:07.339> approach<00:13:07.519> in<00:13:07.940> addition<00:13:08.810> to 00:13:08.920 --> 00:13:08.930 align:start position:0% our approach in addition to 00:13:08.930 --> 00:13:11.769 align:start position:0% our approach in addition to decentralization<00:13:09.589> is<00:13:09.980> the<00:13:10.610> use<00:13:10.790> of<00:13:11.060> trusted 00:13:11.769 --> 00:13:11.779 align:start position:0% decentralization is the use of trusted 00:13:11.779 --> 00:13:13.420 align:start position:0% decentralization is the use of trusted execution<00:13:12.019> environments<00:13:12.800> so<00:13:13.069> trusted 00:13:13.420 --> 00:13:13.430 align:start position:0% execution environments so trusted 00:13:13.430 --> 00:13:17.170 align:start position:0% execution environments so trusted execution<00:13:13.610> environments<00:13:14.360> will<00:13:15.910> provide<00:13:16.910> an 00:13:17.170 --> 00:13:17.180 align:start position:0% execution environments will provide an 00:13:17.180 --> 00:13:19.329 align:start position:0% execution environments will provide an additional<00:13:17.269> level<00:13:17.930> of<00:13:18.140> reliability<00:13:18.620> and<00:13:18.920> they 00:13:19.329 --> 00:13:19.339 align:start position:0% additional level of reliability and they 00:13:19.339 --> 00:13:21.280 align:start position:0% additional level of reliability and they will<00:13:19.490> basically<00:13:19.610> harden<00:13:20.390> each<00:13:20.930> in<00:13:21.199> the 00:13:21.280 --> 00:13:21.290 align:start position:0% will basically harden each in the 00:13:21.290 --> 00:13:23.020 align:start position:0% will basically harden each in the individual<00:13:22.010> chain<00:13:22.250> link<00:13:22.490> No 00:13:23.020 --> 00:13:23.030 align:start position:0% individual chain link No 00:13:23.030 --> 00:13:24.940 align:start position:0% individual chain link No against<00:13:23.720> many<00:13:23.930> a<00:13:24.020> different<00:13:24.320> attack<00:13:24.530> vectors 00:13:24.940 --> 00:13:24.950 align:start position:0% against many a different attack vectors 00:13:24.950 --> 00:13:27.010 align:start position:0% against many a different attack vectors and<00:13:25.190> this<00:13:25.490> hardening<00:13:26.030> and<00:13:26.270> additional 00:13:27.010 --> 00:13:27.020 align:start position:0% and this hardening and additional 00:13:27.020 --> 00:13:29.140 align:start position:0% and this hardening and additional reliability<00:13:27.620> basically<00:13:28.490> makes<00:13:28.670> the<00:13:28.850> entire 00:13:29.140 --> 00:13:29.150 align:start position:0% reliability basically makes the entire 00:13:29.150 --> 00:13:33.280 align:start position:0% reliability basically makes the entire system<00:13:29.720> more<00:13:30.850> well<00:13:31.850> more<00:13:32.090> reliable<00:13:32.570> more<00:13:32.810> more 00:13:33.280 --> 00:13:33.290 align:start position:0% system more well more reliable more more 00:13:33.290 --> 00:13:34.960 align:start position:0% system more well more reliable more more something<00:13:33.890> that<00:13:34.010> can<00:13:34.130> provide<00:13:34.370> provable 00:13:34.960 --> 00:13:34.970 align:start position:0% something that can provide provable 00:13:34.970 --> 00:13:37.450 align:start position:0% something that can provide provable security<00:13:35.960> guarantees<00:13:36.380> that<00:13:36.740> it<00:13:36.980> can<00:13:37.160> reliably 00:13:37.450 --> 00:13:37.460 align:start position:0% security guarantees that it can reliably 00:13:37.460 --> 00:13:39.670 align:start position:0% security guarantees that it can reliably trigger<00:13:37.910> your<00:13:38.030> contract<00:13:38.480> right<00:13:38.900> so<00:13:39.140> it's<00:13:39.590> a 00:13:39.670 --> 00:13:39.680 align:start position:0% trigger your contract right so it's a 00:13:39.680 --> 00:13:41.140 align:start position:0% trigger your contract right so it's a very<00:13:39.830> early<00:13:39.950> technology<00:13:40.550> but<00:13:40.730> we<00:13:40.820> think<00:13:40.970> it 00:13:41.140 --> 00:13:41.150 align:start position:0% very early technology but we think it 00:13:41.150 --> 00:13:44.290 align:start position:0% very early technology but we think it has<00:13:41.630> a<00:13:41.660> lot<00:13:41.870> of<00:13:41.930> promise<00:13:42.670> the<00:13:43.670> approach<00:13:44.000> that 00:13:44.290 --> 00:13:44.300 align:start position:0% has a lot of promise the approach that 00:13:44.300 --> 00:13:46.030 align:start position:0% has a lot of promise the approach that that<00:13:44.570> we've<00:13:44.810> been<00:13:44.960> using<00:13:45.020> and<00:13:45.470> working<00:13:45.950> on 00:13:46.030 --> 00:13:46.040 align:start position:0% that we've been using and working on 00:13:46.040 --> 00:13:47.710 align:start position:0% that we've been using and working on together<00:13:46.190> with<00:13:46.460> people<00:13:46.790> is<00:13:47.060> something<00:13:47.420> called 00:13:47.710 --> 00:13:47.720 align:start position:0% together with people is something called 00:13:47.720 --> 00:13:49.960 align:start position:0% together with people is something called town<00:13:47.900> crier<00:13:48.200> so<00:13:48.650> town<00:13:48.860> crier<00:13:49.160> was<00:13:49.520> developed 00:13:49.960 --> 00:13:49.970 align:start position:0% town crier so town crier was developed 00:13:49.970 --> 00:13:52.570 align:start position:0% town crier so town crier was developed by<00:13:50.390> Cornell<00:13:50.750> and<00:13:50.870> ic3<00:13:51.200> and<00:13:51.650> it<00:13:52.250> was<00:13:52.340> put 00:13:52.570 --> 00:13:52.580 align:start position:0% by Cornell and ic3 and it was put 00:13:52.580 --> 00:13:54.520 align:start position:0% by Cornell and ic3 and it was put together<00:13:52.760> by<00:13:53.360> you<00:13:53.990> know<00:13:54.080> some<00:13:54.230> of<00:13:54.320> the<00:13:54.380> best 00:13:54.520 --> 00:13:54.530 align:start position:0% together by you know some of the best 00:13:54.530 --> 00:13:56.140 align:start position:0% together by you know some of the best academic<00:13:54.740> minds<00:13:55.250> in<00:13:55.400> the<00:13:55.460> block<00:13:55.640> chain<00:13:55.820> space 00:13:56.140 --> 00:13:56.150 align:start position:0% academic minds in the block chain space 00:13:56.150 --> 00:13:58.720 align:start position:0% academic minds in the block chain space like<00:13:56.450> like<00:13:56.720> re<00:13:56.930> joules<00:13:57.230> and<00:13:57.530> a<00:13:58.370> lot<00:13:58.520> of<00:13:58.550> other 00:13:58.720 --> 00:13:58.730 align:start position:0% like like re joules and a lot of other 00:13:58.730 --> 00:14:01.120 align:start position:0% like like re joules and a lot of other great<00:13:58.910> folks<00:13:59.210> that<00:13:59.630> basically<00:14:00.590> put<00:14:00.860> a<00:14:00.890> great 00:14:01.120 --> 00:14:01.130 align:start position:0% great folks that basically put a great 00:14:01.130 --> 00:14:02.530 align:start position:0% great folks that basically put a great approach<00:14:01.370> together<00:14:01.760> and<00:14:02.090> put<00:14:02.330> it<00:14:02.360> out<00:14:02.510> on 00:14:02.530 --> 00:14:02.540 align:start position:0% approach together and put it out on 00:14:02.540 --> 00:14:05.110 align:start position:0% approach together and put it out on production<00:14:03.020> over<00:14:03.380> a<00:14:03.440> year<00:14:03.620> ago<00:14:03.730> so<00:14:04.730> this<00:14:04.910> is<00:14:05.090> a 00:14:05.110 --> 00:14:05.120 align:start position:0% production over a year ago so this is a 00:14:05.120 --> 00:14:07.660 align:start position:0% production over a year ago so this is a functioning<00:14:05.810> well<00:14:06.650> made<00:14:06.860> secure<00:14:07.370> approach 00:14:07.660 --> 00:14:07.670 align:start position:0% functioning well made secure approach 00:14:07.670 --> 00:14:09.970 align:start position:0% functioning well made secure approach that<00:14:08.450> reliably<00:14:08.930> triggers<00:14:09.350> high<00:14:09.560> quality 00:14:09.970 --> 00:14:09.980 align:start position:0% that reliably triggers high quality 00:14:09.980 --> 00:14:12.460 align:start position:0% that reliably triggers high quality contracts<00:14:10.490> like<00:14:10.610> the<00:14:10.760> gas<00:14:10.910> token<00:14:11.390> so<00:14:12.290> it's 00:14:12.460 --> 00:14:12.470 align:start position:0% contracts like the gas token so it's 00:14:12.470 --> 00:14:15.370 align:start position:0% contracts like the gas token so it's it's<00:14:12.800> it's<00:14:13.040> in<00:14:13.520> our<00:14:13.670> opinion<00:14:14.060> the<00:14:14.330> best<00:14:14.570> trust 00:14:15.370 --> 00:14:15.380 align:start position:0% it's it's in our opinion the best trust 00:14:15.380 --> 00:14:17.590 align:start position:0% it's it's in our opinion the best trust use<00:14:15.950> of<00:14:16.130> trusted<00:14:16.490> execution<00:14:16.970> environments<00:14:17.450> in 00:14:17.590 --> 00:14:17.600 align:start position:0% use of trusted execution environments in 00:14:17.600 --> 00:14:20.050 align:start position:0% use of trusted execution environments in the<00:14:17.720> blockchain<00:14:17.990> space<00:14:18.380> today<00:14:18.680> because<00:14:19.610> it 00:14:20.050 --> 00:14:20.060 align:start position:0% the blockchain space today because it 00:14:20.060 --> 00:14:21.910 align:start position:0% the blockchain space today because it works<00:14:20.300> it<00:14:20.630> works<00:14:20.750> on<00:14:20.990> production<00:14:21.500> and<00:14:21.740> it's 00:14:21.910 --> 00:14:21.920 align:start position:0% works it works on production and it's 00:14:21.920 --> 00:14:24.280 align:start position:0% works it works on production and it's made<00:14:22.070> by<00:14:22.100> by<00:14:22.820> some<00:14:22.880> of<00:14:23.150> the<00:14:23.210> best<00:14:23.330> academics<00:14:23.990> in 00:14:24.280 --> 00:14:24.290 align:start position:0% made by by some of the best academics in 00:14:24.290 --> 00:14:27.700 align:start position:0% made by by some of the best academics in in<00:14:24.710> the<00:14:24.830> field<00:14:25.150> now<00:14:26.150> what<00:14:26.990> we're<00:14:27.470> glad<00:14:27.680> to 00:14:27.700 --> 00:14:27.710 align:start position:0% in the field now what we're glad to 00:14:27.710 --> 00:14:31.270 align:start position:0% in the field now what we're glad to announce<00:14:27.980> today<00:14:28.370> is<00:14:28.640> that<00:14:29.300> due<00:14:30.200> to<00:14:30.230> our<00:14:30.680> very 00:14:31.270 --> 00:14:31.280 align:start position:0% announce today is that due to our very 00:14:31.280 --> 00:14:32.770 align:start position:0% announce today is that due to our very successful<00:14:31.460> collaboration<00:14:32.420> with<00:14:32.570> the<00:14:32.660> folks 00:14:32.770 --> 00:14:32.780 align:start position:0% successful collaboration with the folks 00:14:32.780 --> 00:14:36.790 align:start position:0% successful collaboration with the folks at<00:14:33.070> Cornell<00:14:34.070> and<00:14:34.100> town<00:14:34.430> crier<00:14:34.700> and<00:14:34.730> ic3<00:14:35.800> the 00:14:36.790 --> 00:14:36.800 align:start position:0% at Cornell and town crier and ic3 the 00:14:36.800 --> 00:14:38.680 align:start position:0% at Cornell and town crier and ic3 the town<00:14:37.070> Town<00:14:37.610> Crier<00:14:37.790> is<00:14:38.000> basically<00:14:38.420> going<00:14:38.570> to<00:14:38.630> be 00:14:38.680 --> 00:14:38.690 align:start position:0% town Town Crier is basically going to be 00:14:38.690 --> 00:14:40.780 align:start position:0% town Town Crier is basically going to be joining<00:14:38.960> chain<00:14:39.260> link<00:14:39.470> so<00:14:40.430> what<00:14:40.610> we're<00:14:40.760> doing 00:14:40.780 --> 00:14:40.790 align:start position:0% joining chain link so what we're doing 00:14:40.790 --> 00:14:42.970 align:start position:0% joining chain link so what we're doing is<00:14:41.150> we're<00:14:41.330> combining<00:14:41.590> two<00:14:42.590> of<00:14:42.620> the<00:14:42.800> best 00:14:42.970 --> 00:14:42.980 align:start position:0% is we're combining two of the best 00:14:42.980 --> 00:14:45.250 align:start position:0% is we're combining two of the best projects<00:14:43.460> that<00:14:43.940> are<00:14:44.270> focusing<00:14:44.930> on<00:14:45.110> getting 00:14:45.250 --> 00:14:45.260 align:start position:0% projects that are focusing on getting 00:14:45.260 --> 00:14:48.000 align:start position:0% projects that are focusing on getting data<00:14:45.710> to<00:14:45.980> contracts<00:14:46.640> and<00:14:46.820> we're<00:14:47.510> basically 00:14:48.000 --> 00:14:48.010 align:start position:0% data to contracts and we're basically 00:14:48.010 --> 00:14:50.110 align:start position:0% data to contracts and we're basically combining<00:14:49.010> them<00:14:49.130> into<00:14:49.280> one<00:14:49.370> great<00:14:49.670> project 00:14:50.110 --> 00:14:50.120 align:start position:0% combining them into one great project 00:14:50.120 --> 00:14:52.960 align:start position:0% combining them into one great project essentially<00:14:50.510> chain<00:14:50.840> link<00:14:51.050> now<00:14:51.890> the<00:14:52.640> way<00:14:52.790> this 00:14:52.960 --> 00:14:52.970 align:start position:0% essentially chain link now the way this 00:14:52.970 --> 00:14:54.610 align:start position:0% essentially chain link now the way this really<00:14:53.270> looks<00:14:53.450> from<00:14:53.750> from<00:14:54.290> a<00:14:54.380> value 00:14:54.610 --> 00:14:54.620 align:start position:0% really looks from from a value 00:14:54.620 --> 00:14:55.600 align:start position:0% really looks from from a value perspective<00:14:54.650> is<00:14:55.250> that 00:14:55.600 --> 00:14:55.610 align:start position:0% perspective is that 00:14:55.610 --> 00:14:57.610 align:start position:0% perspective is that Town<00:14:56.210> Crier<00:14:56.420> and<00:14:56.780> the<00:14:56.870> academic<00:14:57.290> minds<00:14:57.530> that 00:14:57.610 --> 00:14:57.620 align:start position:0% Town Crier and the academic minds that 00:14:57.620 --> 00:14:58.720 align:start position:0% Town Crier and the academic minds that are<00:14:57.680> put<00:14:57.890> that<00:14:58.010> together<00:14:58.160> have<00:14:58.550> done<00:14:58.700> a 00:14:58.720 --> 00:14:58.730 align:start position:0% are put that together have done a 00:14:58.730 --> 00:15:00.610 align:start position:0% are put that together have done a fantastic<00:14:58.970> job<00:14:59.390> and<00:14:59.840> making<00:15:00.230> trusted 00:15:00.610 --> 00:15:00.620 align:start position:0% fantastic job and making trusted 00:15:00.620 --> 00:15:02.730 align:start position:0% fantastic job and making trusted execution<00:15:00.860> environments<00:15:01.760> useful 00:15:02.730 --> 00:15:02.740 align:start position:0% execution environments useful 00:15:02.740 --> 00:15:05.220 align:start position:0% execution environments useful practically<00:15:03.740> immediately<00:15:04.400> useful<00:15:04.550> and 00:15:05.220 --> 00:15:05.230 align:start position:0% practically immediately useful and 00:15:05.230 --> 00:15:08.710 align:start position:0% practically immediately useful and secure<00:15:06.280> on<00:15:07.280> production<00:15:08.030> right<00:15:08.420> that's<00:15:08.600> not 00:15:08.710 --> 00:15:08.720 align:start position:0% secure on production right that's not 00:15:08.720 --> 00:15:10.630 align:start position:0% secure on production right that's not something<00:15:09.200> many<00:15:09.860> other<00:15:10.070> people<00:15:10.340> could<00:15:10.460> say 00:15:10.630 --> 00:15:10.640 align:start position:0% something many other people could say 00:15:10.640 --> 00:15:13.210 align:start position:0% something many other people could say and<00:15:10.930> chain<00:15:11.930> link<00:15:11.960> has<00:15:12.620> a<00:15:12.650> unique<00:15:13.070> and 00:15:13.210 --> 00:15:13.220 align:start position:0% and chain link has a unique and 00:15:13.220 --> 00:15:14.560 align:start position:0% and chain link has a unique and high-quality<00:15:13.400> approach<00:15:13.970> for<00:15:14.210> making<00:15:14.450> sure 00:15:14.560 --> 00:15:14.570 align:start position:0% high-quality approach for making sure 00:15:14.570 --> 00:15:16.300 align:start position:0% high-quality approach for making sure that<00:15:14.720> the<00:15:14.840> centralization<00:15:15.290> is<00:15:15.710> a<00:15:15.740> key<00:15:15.980> part 00:15:16.300 --> 00:15:16.310 align:start position:0% that the centralization is a key part 00:15:16.310 --> 00:15:19.510 align:start position:0% that the centralization is a key part and<00:15:16.610> is<00:15:17.240> is<00:15:17.870> a<00:15:17.930> way<00:15:18.260> to<00:15:18.320> provide<00:15:18.650> genuine 00:15:19.510 --> 00:15:19.520 align:start position:0% and is is a way to provide genuine 00:15:19.520 --> 00:15:22.660 align:start position:0% and is is a way to provide genuine guarantees<00:15:20.060> about<00:15:20.270> reliability<00:15:20.980> so<00:15:21.980> the 00:15:22.660 --> 00:15:22.670 align:start position:0% guarantees about reliability so the 00:15:22.670 --> 00:15:24.550 align:start position:0% guarantees about reliability so the combination<00:15:23.240> of<00:15:23.330> Town<00:15:23.540> Crier<00:15:23.840> and<00:15:24.050> chain<00:15:24.230> link 00:15:24.550 --> 00:15:24.560 align:start position:0% combination of Town Crier and chain link 00:15:24.560 --> 00:15:27.590 align:start position:0% combination of Town Crier and chain link we<00:15:25.460> basically<00:15:25.670> arrive<00:15:26.210> at 00:15:27.590 --> 00:15:27.600 align:start position:0% we basically arrive at 00:15:27.600 --> 00:15:30.800 align:start position:0% we basically arrive at a<00:15:28.040> provably<00:15:29.040> secure<00:15:29.600> decentralized<00:15:30.600> oracle 00:15:30.800 --> 00:15:30.810 align:start position:0% a provably secure decentralized oracle 00:15:30.810 --> 00:15:33.319 align:start position:0% a provably secure decentralized oracle network<00:15:31.259> so<00:15:32.190> this<00:15:32.399> this<00:15:32.699> combination<00:15:33.269> of 00:15:33.319 --> 00:15:33.329 align:start position:0% network so this this combination of 00:15:33.329 --> 00:15:35.900 align:start position:0% network so this this combination of features<00:15:33.660> is<00:15:33.959> is<00:15:34.769> basically<00:15:35.310> allowing<00:15:35.610> us<00:15:35.880> to 00:15:35.900 --> 00:15:35.910 align:start position:0% features is is basically allowing us to 00:15:35.910 --> 00:15:38.240 align:start position:0% features is is basically allowing us to arrive<00:15:36.269> at<00:15:36.449> a<00:15:36.509> place<00:15:36.779> where<00:15:37.560> reliably 00:15:38.240 --> 00:15:38.250 align:start position:0% arrive at a place where reliably 00:15:38.250 --> 00:15:40.430 align:start position:0% arrive at a place where reliably triggering<00:15:38.970> contracts<00:15:39.690> and<00:15:39.930> solving<00:15:40.350> the 00:15:40.430 --> 00:15:40.440 align:start position:0% triggering contracts and solving the 00:15:40.440 --> 00:15:43.879 align:start position:0% triggering contracts and solving the Oracle<00:15:40.800> problem<00:15:41.250> is<00:15:41.399> as<00:15:42.389> close<00:15:42.990> to<00:15:43.019> solved<00:15:43.649> as 00:15:43.879 --> 00:15:43.889 align:start position:0% Oracle problem is as close to solved as 00:15:43.889 --> 00:15:53.660 align:start position:0% Oracle problem is as close to solved as it<00:15:44.009> ever<00:15:44.160> has<00:15:44.370> been<00:15:44.610> right<00:15:51.889> so<00:15:52.889> I<00:15:52.949> think<00:15:53.279> it's 00:15:53.660 --> 00:15:53.670 align:start position:0% it ever has been right so I think it's 00:15:53.670 --> 00:15:56.480 align:start position:0% it ever has been right so I think it's useful<00:15:53.910> to<00:15:54.709> you<00:15:55.709> know<00:15:55.829> in<00:15:55.980> the<00:15:56.100> time<00:15:56.250> we<00:15:56.399> have 00:15:56.480 --> 00:15:56.490 align:start position:0% useful to you know in the time we have 00:15:56.490 --> 00:15:58.490 align:start position:0% useful to you know in the time we have left<00:15:56.519> to<00:15:56.790> consider<00:15:57.209> what<00:15:57.480> the<00:15:57.690> actual<00:15:58.019> value 00:15:58.490 --> 00:15:58.500 align:start position:0% left to consider what the actual value 00:15:58.500 --> 00:16:00.590 align:start position:0% left to consider what the actual value of<00:15:58.529> this<00:15:58.769> is<00:15:58.949> and<00:15:59.310> maybe<00:15:59.490> diving<00:15:59.940> into<00:16:00.209> into 00:16:00.590 --> 00:16:00.600 align:start position:0% of this is and maybe diving into into 00:16:00.600 --> 00:16:02.360 align:start position:0% of this is and maybe diving into into the<00:16:00.720> approach<00:16:01.019> where<00:16:01.410> we're<00:16:01.949> talking<00:16:02.100> about 00:16:02.360 --> 00:16:02.370 align:start position:0% the approach where we're talking about 00:16:02.370 --> 00:16:05.900 align:start position:0% the approach where we're talking about here<00:16:02.730> so<00:16:03.050> the<00:16:04.050> fundamental<00:16:04.730> value<00:16:05.730> of<00:16:05.759> an 00:16:05.900 --> 00:16:05.910 align:start position:0% here so the fundamental value of an 00:16:05.910 --> 00:16:07.519 align:start position:0% here so the fundamental value of an approach<00:16:06.209> like<00:16:06.240> town-crier<00:16:06.899> and<00:16:07.290> the<00:16:07.380> use<00:16:07.500> of 00:16:07.519 --> 00:16:07.529 align:start position:0% approach like town-crier and the use of 00:16:07.529 --> 00:16:09.559 align:start position:0% approach like town-crier and the use of trusted<00:16:08.009> execution<00:16:08.190> environments<00:16:09.000> is<00:16:09.180> that 00:16:09.559 --> 00:16:09.569 align:start position:0% trusted execution environments is that 00:16:09.569 --> 00:16:10.999 align:start position:0% trusted execution environments is that you<00:16:09.870> have<00:16:09.990> a<00:16:10.019> much<00:16:10.259> smaller<00:16:10.470> trusted 00:16:10.999 --> 00:16:11.009 align:start position:0% you have a much smaller trusted 00:16:11.009 --> 00:16:12.319 align:start position:0% you have a much smaller trusted computing<00:16:11.250> base<00:16:11.550> you<00:16:11.819> have<00:16:11.850> a<00:16:11.940> much<00:16:12.149> smaller 00:16:12.319 --> 00:16:12.329 align:start position:0% computing base you have a much smaller 00:16:12.329 --> 00:16:14.720 align:start position:0% computing base you have a much smaller attack<00:16:12.810> surface<00:16:13.230> area<00:16:13.529> so<00:16:14.220> instead<00:16:14.519> of<00:16:14.639> an 00:16:14.720 --> 00:16:14.730 align:start position:0% attack surface area so instead of an 00:16:14.730 --> 00:16:16.759 align:start position:0% attack surface area so instead of an application<00:16:15.149> going<00:16:15.690> into<00:16:15.959> the<00:16:16.079> OS<00:16:16.350> or<00:16:16.620> the 00:16:16.759 --> 00:16:16.769 align:start position:0% application going into the OS or the 00:16:16.769 --> 00:16:18.530 align:start position:0% application going into the OS or the hypervisor<00:16:17.190> and<00:16:17.610> then<00:16:17.940> injecting<00:16:18.420> malicious 00:16:18.530 --> 00:16:18.540 align:start position:0% hypervisor and then injecting malicious 00:16:18.540 --> 00:16:21.110 align:start position:0% hypervisor and then injecting malicious code<00:16:18.959> into<00:16:19.139> your<00:16:19.170> application<00:16:19.949> you<00:16:20.639> now<00:16:20.819> have 00:16:21.110 --> 00:16:21.120 align:start position:0% code into your application you now have 00:16:21.120 --> 00:16:23.990 align:start position:0% code into your application you now have something<00:16:21.630> that<00:16:21.899> has<00:16:22.139> a<00:16:22.170> separate<00:16:22.800> memory<00:16:23.699> and 00:16:23.990 --> 00:16:24.000 align:start position:0% something that has a separate memory and 00:16:24.000 --> 00:16:26.059 align:start position:0% something that has a separate memory and processing<00:16:24.389> capacity<00:16:24.649> that<00:16:25.649> is<00:16:25.829> at<00:16:25.949> the 00:16:26.059 --> 00:16:26.069 align:start position:0% processing capacity that is at the 00:16:26.069 --> 00:16:28.160 align:start position:0% processing capacity that is at the hardware<00:16:26.430> level<00:16:26.579> so<00:16:27.269> now<00:16:27.389> you<00:16:27.449> have<00:16:27.690> hardware 00:16:28.160 --> 00:16:28.170 align:start position:0% hardware level so now you have hardware 00:16:28.170 --> 00:16:32.389 align:start position:0% hardware level so now you have hardware level<00:16:28.670> that<00:16:30.319> basically<00:16:31.319> talks<00:16:31.949> to<00:16:32.250> your 00:16:32.389 --> 00:16:32.399 align:start position:0% level that basically talks to your 00:16:32.399 --> 00:16:36.590 align:start position:0% level that basically talks to your application<00:16:33.120> through<00:16:33.839> separate<00:16:35.360> call<00:16:36.360> gates 00:16:36.590 --> 00:16:36.600 align:start position:0% application through separate call gates 00:16:36.600 --> 00:16:39.860 align:start position:0% application through separate call gates and<00:16:36.930> and<00:16:37.110> basically<00:16:37.470> a<00:16:37.740> separate<00:16:38.870> hardware 00:16:39.860 --> 00:16:39.870 align:start position:0% and and basically a separate hardware 00:16:39.870 --> 00:16:43.100 align:start position:0% and and basically a separate hardware level<00:16:40.560> that<00:16:41.069> doesn't<00:16:41.910> touch<00:16:42.029> the<00:16:42.180> OS<00:16:42.389> doesn't 00:16:43.100 --> 00:16:43.110 align:start position:0% level that doesn't touch the OS doesn't 00:16:43.110 --> 00:16:45.499 align:start position:0% level that doesn't touch the OS doesn't touch<00:16:43.290> the<00:16:43.769> hypervisor<00:16:44.189> code<00:16:44.579> and<00:16:44.819> provides<00:16:45.389> a 00:16:45.499 --> 00:16:45.509 align:start position:0% touch the hypervisor code and provides a 00:16:45.509 --> 00:16:48.980 align:start position:0% touch the hypervisor code and provides a new<00:16:45.630> level<00:16:45.899> of<00:16:45.959> security<00:16:46.290> right<00:16:47.029> so<00:16:48.029> the<00:16:48.959> the 00:16:48.980 --> 00:16:48.990 align:start position:0% new level of security right so the the 00:16:48.990 --> 00:16:50.509 align:start position:0% new level of security right so the the fundamentals<00:16:49.769> of<00:16:49.829> the<00:16:49.980> approach<00:16:50.220> can 00:16:50.509 --> 00:16:50.519 align:start position:0% fundamentals of the approach can 00:16:50.519 --> 00:16:52.189 align:start position:0% fundamentals of the approach can definitely<00:16:51.149> work<00:16:51.329> there's<00:16:51.720> a<00:16:51.810> lot<00:16:51.930> of<00:16:52.050> smart 00:16:52.189 --> 00:16:52.199 align:start position:0% definitely work there's a lot of smart 00:16:52.199 --> 00:16:55.460 align:start position:0% definitely work there's a lot of smart smart<00:16:52.649> people<00:16:52.920> working<00:16:53.250> on<00:16:53.370> it<00:16:53.399> and<00:16:54.259> in<00:16:55.259> our 00:16:55.460 --> 00:16:55.470 align:start position:0% smart people working on it and in our 00:16:55.470 --> 00:16:57.050 align:start position:0% smart people working on it and in our specific<00:16:55.980> case<00:16:56.009> I'm<00:16:56.339> just<00:16:56.370> gonna<00:16:56.579> quickly 00:16:57.050 --> 00:16:57.060 align:start position:0% specific case I'm just gonna quickly 00:16:57.060 --> 00:16:58.939 align:start position:0% specific case I'm just gonna quickly walk<00:16:57.269> through<00:16:57.300> the<00:16:57.600> key<00:16:57.839> some<00:16:58.620> of<00:16:58.709> the<00:16:58.800> key 00:16:58.939 --> 00:16:58.949 align:start position:0% walk through the key some of the key 00:16:58.949 --> 00:17:01.210 align:start position:0% walk through the key some of the key benefits<00:16:59.370> we<00:16:59.550> gained<00:16:59.790> from<00:17:00.569> including 00:17:01.210 --> 00:17:01.220 align:start position:0% benefits we gained from including 00:17:01.220 --> 00:17:03.850 align:start position:0% benefits we gained from including something<00:17:02.220> like<00:17:02.339> town-crier<00:17:02.730> in<00:17:03.029> chain-link 00:17:03.850 --> 00:17:03.860 align:start position:0% something like town-crier in chain-link 00:17:03.860 --> 00:17:07.789 align:start position:0% something like town-crier in chain-link now<00:17:05.449> one<00:17:06.449> of<00:17:06.480> the<00:17:06.630> first<00:17:07.199> things<00:17:07.409> to<00:17:07.500> do<00:17:07.650> is<00:17:07.770> to 00:17:07.789 --> 00:17:07.799 align:start position:0% now one of the first things to do is to 00:17:07.799 --> 00:17:09.470 align:start position:0% now one of the first things to do is to quickly<00:17:07.980> understand<00:17:08.549> how<00:17:08.699> it<00:17:09.120> works 00:17:09.470 --> 00:17:09.480 align:start position:0% quickly understand how it works 00:17:09.480 --> 00:17:11.689 align:start position:0% quickly understand how it works so<00:17:09.780> town-crier<00:17:10.319> basically<00:17:11.010> works<00:17:11.250> like<00:17:11.370> most 00:17:11.689 --> 00:17:11.699 align:start position:0% so town-crier basically works like most 00:17:11.699 --> 00:17:13.159 align:start position:0% so town-crier basically works like most Oracle's<00:17:12.209> it<00:17:12.390> provides<00:17:12.750> an<00:17:12.870> unchained 00:17:13.159 --> 00:17:13.169 align:start position:0% Oracle's it provides an unchained 00:17:13.169 --> 00:17:15.380 align:start position:0% Oracle's it provides an unchained contract<00:17:13.679> that's<00:17:14.130> queried<00:17:14.490> by<00:17:14.610> user<00:17:14.850> contract 00:17:15.380 --> 00:17:15.390 align:start position:0% contract that's queried by user contract 00:17:15.390 --> 00:17:18.230 align:start position:0% contract that's queried by user contract then<00:17:16.350> there's<00:17:16.650> code<00:17:17.400> running<00:17:17.669> in<00:17:17.760> the<00:17:17.850> Enclave 00:17:18.230 --> 00:17:18.240 align:start position:0% then there's code running in the Enclave 00:17:18.240 --> 00:17:20.750 align:start position:0% then there's code running in the Enclave that<00:17:18.409> retrieves<00:17:19.409> data<00:17:19.500> and<00:17:20.010> uses<00:17:20.280> the<00:17:20.370> TLS 00:17:20.750 --> 00:17:20.760 align:start position:0% that retrieves data and uses the TLS 00:17:20.760 --> 00:17:22.159 align:start position:0% that retrieves data and uses the TLS scheme<00:17:21.030> to<00:17:21.270> prove<00:17:21.539> that<00:17:21.720> something<00:17:21.959> is 00:17:22.159 --> 00:17:22.169 align:start position:0% scheme to prove that something is 00:17:22.169 --> 00:17:25.039 align:start position:0% scheme to prove that something is happening<00:17:22.559> and<00:17:23.059> then<00:17:24.059> it<00:17:24.209> sends<00:17:24.600> the<00:17:24.809> signed 00:17:25.039 --> 00:17:25.049 align:start position:0% happening and then it sends the signed 00:17:25.049 --> 00:17:26.779 align:start position:0% happening and then it sends the signed data<00:17:25.289> from<00:17:26.069> this<00:17:26.220> secure<00:17:26.610> hardware 00:17:26.779 --> 00:17:26.789 align:start position:0% data from this secure hardware 00:17:26.789 --> 00:17:28.820 align:start position:0% data from this secure hardware environment<00:17:27.480> back<00:17:27.630> into<00:17:27.900> the<00:17:27.990> contract<00:17:28.409> right 00:17:28.820 --> 00:17:28.830 align:start position:0% environment back into the contract right 00:17:28.830 --> 00:17:30.649 align:start position:0% environment back into the contract right so<00:17:29.100> you<00:17:29.159> have<00:17:29.460> the<00:17:29.880> ability<00:17:29.970> to<00:17:30.240> prove<00:17:30.510> that 00:17:30.649 --> 00:17:30.659 align:start position:0% so you have the ability to prove that 00:17:30.659 --> 00:17:32.299 align:start position:0% so you have the ability to prove that TLS<00:17:31.020> works<00:17:31.260> you<00:17:31.409> have<00:17:31.530> the<00:17:31.620> ability<00:17:31.950> to<00:17:31.980> sign 00:17:32.299 --> 00:17:32.309 align:start position:0% TLS works you have the ability to sign 00:17:32.309 --> 00:17:34.669 align:start position:0% TLS works you have the ability to sign from<00:17:32.640> a<00:17:32.730> secure<00:17:33.059> reliable<00:17:33.470> trusted<00:17:34.470> execution 00:17:34.669 --> 00:17:34.679 align:start position:0% from a secure reliable trusted execution 00:17:34.679 --> 00:17:37.549 align:start position:0% from a secure reliable trusted execution environment<00:17:35.570> now<00:17:36.570> one<00:17:36.720> of<00:17:36.750> the<00:17:36.929> first<00:17:37.320> great 00:17:37.549 --> 00:17:37.559 align:start position:0% environment now one of the first great 00:17:37.559 --> 00:17:40.549 align:start position:0% environment now one of the first great things<00:17:37.799> this<00:17:37.950> does<00:17:38.159> for<00:17:38.370> us<00:17:38.490> is<00:17:38.700> it<00:17:38.760> makes 00:17:40.549 --> 00:17:40.559 align:start position:0% things this does for us is it makes 00:17:40.559 --> 00:17:43.039 align:start position:0% things this does for us is it makes chain-linked<00:17:40.980> node<00:17:41.190> even<00:17:42.090> if<00:17:42.210> it's<00:17:42.330> run<00:17:42.600> by<00:17:42.629> an 00:17:43.039 --> 00:17:43.049 align:start position:0% chain-linked node even if it's run by an 00:17:43.049 --> 00:17:44.930 align:start position:0% chain-linked node even if it's run by an independent<00:17:43.470> third<00:17:43.830> party<00:17:44.340> even<00:17:44.490> if<00:17:44.610> it's<00:17:44.759> run 00:17:44.930 --> 00:17:44.940 align:start position:0% independent third party even if it's run 00:17:44.940 --> 00:17:47.060 align:start position:0% independent third party even if it's run by<00:17:44.970> somebody<00:17:45.509> we<00:17:45.600> don't<00:17:45.779> know<00:17:45.990> or<00:17:46.350> just<00:17:46.529> an 00:17:47.060 --> 00:17:47.070 align:start position:0% by somebody we don't know or just an 00:17:47.070 --> 00:17:49.519 align:start position:0% by somebody we don't know or just an anode<00:17:47.399> operator<00:17:47.850> who<00:17:48.120> may<00:17:48.870> or<00:17:49.019> may<00:17:49.200> not<00:17:49.320> be 00:17:49.519 --> 00:17:49.529 align:start position:0% anode operator who may or may not be 00:17:49.529 --> 00:17:52.519 align:start position:0% anode operator who may or may not be malicious<00:17:49.769> it<00:17:50.580> gives<00:17:50.909> them<00:17:51.210> something<00:17:51.659> that 00:17:52.519 --> 00:17:52.529 align:start position:0% malicious it gives them something that 00:17:52.529 --> 00:17:55.159 align:start position:0% malicious it gives them something that is<00:17:52.940> much<00:17:53.940> more<00:17:54.179> secure<00:17:54.570> than<00:17:54.629> if<00:17:54.929> it<00:17:55.019> was 00:17:55.159 --> 00:17:55.169 align:start position:0% is much more secure than if it was 00:17:55.169 --> 00:17:56.629 align:start position:0% is much more secure than if it was running<00:17:55.409> and<00:17:55.740> sums<00:17:55.919> in<00:17:56.159> the<00:17:56.249> standard 00:17:56.629 --> 00:17:56.639 align:start position:0% running and sums in the standard 00:17:56.639 --> 00:17:58.820 align:start position:0% running and sums in the standard standard<00:17:57.539> set<00:17:57.749> up<00:17:57.870> with<00:17:58.019> docker<00:17:58.200> or<00:17:58.379> something 00:17:58.820 --> 00:17:58.830 align:start position:0% standard set up with docker or something 00:17:58.830 --> 00:17:59.299 align:start position:0% standard set up with docker or something like<00:17:58.950> that 00:17:59.299 --> 00:17:59.309 align:start position:0% like that 00:17:59.309 --> 00:18:02.169 align:start position:0% like that basically<00:17:59.759> it<00:18:00.059> gives<00:18:00.450> them<00:18:00.690> a<00:18:00.720> hardened<00:18:01.259> a 00:18:02.169 --> 00:18:02.179 align:start position:0% basically it gives them a hardened a 00:18:02.179 --> 00:18:04.940 align:start position:0% basically it gives them a hardened a hardly<00:18:03.179> P<00:18:03.330> basically<00:18:04.110> a<00:18:04.259> hardened<00:18:04.620> set<00:18:04.799> up 00:18:04.940 --> 00:18:04.950 align:start position:0% hardly P basically a hardened set up 00:18:04.950 --> 00:18:07.129 align:start position:0% hardly P basically a hardened set up with<00:18:05.460> its<00:18:05.610> own<00:18:05.700> hardware<00:18:06.210> that<00:18:06.720> they<00:18:06.960> as<00:18:07.110> a 00:18:07.129 --> 00:18:07.139 align:start position:0% with its own hardware that they as a 00:18:07.139 --> 00:18:09.320 align:start position:0% with its own hardware that they as a node<00:18:07.470> operator<00:18:07.980> cannot<00:18:08.370> even<00:18:08.549> get<00:18:08.730> access<00:18:08.879> to 00:18:09.320 --> 00:18:09.330 align:start position:0% node operator cannot even get access to 00:18:09.330 --> 00:18:11.749 align:start position:0% node operator cannot even get access to so<00:18:10.320> in<00:18:10.440> the<00:18:10.679> scenario<00:18:10.830> we're<00:18:11.249> channeling<00:18:11.429> node 00:18:11.749 --> 00:18:11.759 align:start position:0% so in the scenario we're channeling node 00:18:11.759 --> 00:18:14.180 align:start position:0% so in the scenario we're channeling node operators<00:18:12.299> are<00:18:12.389> running<00:18:12.600> an<00:18:12.690> SG<00:18:13.019> X<00:18:13.139> node<00:18:13.409> they 00:18:14.180 --> 00:18:14.190 align:start position:0% operators are running an SG X node they 00:18:14.190 --> 00:18:17.299 align:start position:0% operators are running an SG X node they they<00:18:15.029> they<00:18:15.629> no<00:18:15.809> longer<00:18:15.840> have<00:18:16.379> access<00:18:16.889> to<00:18:17.159> what 00:18:17.299 --> 00:18:17.309 align:start position:0% they they no longer have access to what 00:18:17.309 --> 00:18:19.879 align:start position:0% they they no longer have access to what they're<00:18:17.490> running<00:18:17.659> all<00:18:18.659> they<00:18:18.960> can<00:18:19.169> do<00:18:19.320> is<00:18:19.350> shut 00:18:19.879 --> 00:18:19.889 align:start position:0% they're running all they can do is shut 00:18:19.889 --> 00:18:21.440 align:start position:0% they're running all they can do is shut themselves<00:18:20.039> down<00:18:20.369> which<00:18:20.700> immediately<00:18:20.999> shows 00:18:21.440 --> 00:18:21.450 align:start position:0% themselves down which immediately shows 00:18:21.450 --> 00:18:23.899 align:start position:0% themselves down which immediately shows them<00:18:21.690> to<00:18:21.720> be<00:18:21.869> a<00:18:21.960> bad<00:18:22.200> bad<00:18:22.529> node<00:18:22.769> operator<00:18:23.159> so 00:18:23.899 --> 00:18:23.909 align:start position:0% them to be a bad bad node operator so 00:18:23.909 --> 00:18:26.509 align:start position:0% them to be a bad bad node operator so what<00:18:24.299> this<00:18:24.419> does<00:18:24.629> is<00:18:24.690> it<00:18:24.869> hardens<00:18:25.379> it<00:18:25.980> creates 00:18:26.509 --> 00:18:26.519 align:start position:0% what this does is it hardens it creates 00:18:26.519 --> 00:18:29.029 align:start position:0% what this does is it hardens it creates confidentiality<00:18:27.450> basically<00:18:28.139> against<00:18:28.769> even 00:18:29.029 --> 00:18:29.039 align:start position:0% confidentiality basically against even 00:18:29.039 --> 00:18:31.279 align:start position:0% confidentiality basically against even the<00:18:29.159> node<00:18:29.309> operator<00:18:29.809> so<00:18:30.809> that<00:18:30.990> you<00:18:31.080> can<00:18:31.200> have 00:18:31.279 --> 00:18:31.289 align:start position:0% the node operator so that you can have 00:18:31.289 --> 00:18:33.109 align:start position:0% the node operator so that you can have thousands<00:18:31.740> of<00:18:31.799> node<00:18:31.950> operators<00:18:32.460> and<00:18:32.759> all 00:18:33.109 --> 00:18:33.119 align:start position:0% thousands of node operators and all 00:18:33.119 --> 00:18:34.999 align:start position:0% thousands of node operators and all those<00:18:33.269> thousands<00:18:33.720> of<00:18:33.779> node<00:18:33.929> operators<00:18:34.409> could 00:18:34.999 --> 00:18:35.009 align:start position:0% those thousands of node operators could 00:18:35.009 --> 00:18:36.560 align:start position:0% those thousands of node operators could be<00:18:35.100> doing<00:18:35.279> computations<00:18:35.970> retrieving<00:18:36.419> data 00:18:36.560 --> 00:18:36.570 align:start position:0% be doing computations retrieving data 00:18:36.570 --> 00:18:40.070 align:start position:0% be doing computations retrieving data but<00:18:37.379> the<00:18:37.619> only<00:18:37.889> control<00:18:38.249> they<00:18:38.399> have<00:18:38.580> over<00:18:39.080> how 00:18:40.070 --> 00:18:40.080 align:start position:0% but the only control they have over how 00:18:40.080 --> 00:18:41.840 align:start position:0% but the only control they have over how that<00:18:40.259> computation<00:18:40.889> actually<00:18:41.190> turns<00:18:41.369> out<00:18:41.549> is 00:18:41.840 --> 00:18:41.850 align:start position:0% that computation actually turns out is 00:18:41.850 --> 00:18:45.320 align:start position:0% that computation actually turns out is is<00:18:42.840> is<00:18:43.710> 0<00:18:43.740> short<00:18:44.700> of<00:18:44.820> just<00:18:45.090> shutting 00:18:45.320 --> 00:18:45.330 align:start position:0% is is 0 short of just shutting 00:18:45.330 --> 00:18:48.859 align:start position:0% is is 0 short of just shutting themselves<00:18:45.809> off<00:18:46.279> now<00:18:47.570> some<00:18:48.570> of<00:18:48.659> the<00:18:48.749> other 00:18:48.859 --> 00:18:48.869 align:start position:0% themselves off now some of the other 00:18:48.869 --> 00:18:50.180 align:start position:0% themselves off now some of the other large<00:18:49.139> benefits<00:18:49.619> are<00:18:49.860> things<00:18:50.070> like 00:18:50.180 --> 00:18:50.190 align:start position:0% large benefits are things like 00:18:50.190 --> 00:18:52.989 align:start position:0% large benefits are things like credential<00:18:50.669> management<00:18:51.059> so<00:18:51.389> if<00:18:51.419> you<00:18:51.809> want<00:18:52.139> a 00:18:52.989 --> 00:18:52.999 align:start position:0% credential management so if you want a 00:18:52.999 --> 00:18:55.039 align:start position:0% credential management so if you want a chain<00:18:53.999> link<00:18:54.119> node<00:18:54.299> to<00:18:54.480> sign<00:18:54.690> Bitcoin 00:18:55.039 --> 00:18:55.049 align:start position:0% chain link node to sign Bitcoin 00:18:55.049 --> 00:18:57.019 align:start position:0% chain link node to sign Bitcoin transactions<00:18:55.679> or<00:18:55.980> to<00:18:56.220> send<00:18:56.399> payments<00:18:56.850> into 00:18:57.019 --> 00:18:57.029 align:start position:0% transactions or to send payments into 00:18:57.029 --> 00:18:58.669 align:start position:0% transactions or to send payments into Bank<00:18:57.240> systems<00:18:57.629> that's<00:18:58.230> gonna<00:18:58.379> require 00:18:58.669 --> 00:18:58.679 align:start position:0% Bank systems that's gonna require 00:18:58.679 --> 00:19:01.009 align:start position:0% Bank systems that's gonna require credentials<00:18:59.249> passwords<00:19:00.210> and<00:19:00.389> usernames<00:19:00.600> and 00:19:01.009 --> 00:19:01.019 align:start position:0% credentials passwords and usernames and 00:19:01.019 --> 00:19:02.299 align:start position:0% credentials passwords and usernames and all<00:19:01.080> kinds<00:19:01.289> of<00:19:01.379> credentials<00:19:01.619> that<00:19:01.889> basically 00:19:02.299 --> 00:19:02.309 align:start position:0% all kinds of credentials that basically 00:19:02.309 --> 00:19:04.399 align:start position:0% all kinds of credentials that basically affect<00:19:02.639> payment<00:19:02.879> the<00:19:03.690> more<00:19:03.899> secure<00:19:04.289> and 00:19:04.399 --> 00:19:04.409 align:start position:0% affect payment the more secure and 00:19:04.409 --> 00:19:06.409 align:start position:0% affect payment the more secure and environment<00:19:04.950> you<00:19:05.070> have<00:19:05.100> to<00:19:05.309> hold<00:19:06.240> those 00:19:06.409 --> 00:19:06.419 align:start position:0% environment you have to hold those 00:19:06.419 --> 00:19:08.149 align:start position:0% environment you have to hold those credentials<00:19:06.749> the<00:19:07.529> better<00:19:07.740> off<00:19:07.919> you're<00:19:08.100> gonna 00:19:08.149 --> 00:19:08.159 align:start position:0% credentials the better off you're gonna 00:19:08.159 --> 00:19:08.389 align:start position:0% credentials the better off you're gonna be 00:19:08.389 --> 00:19:08.399 align:start position:0% be 00:19:08.399 --> 00:19:10.070 align:start position:0% be because<00:19:08.850> those<00:19:09.029> credentials<00:19:09.480> are<00:19:09.809> worth<00:19:09.929> a 00:19:10.070 --> 00:19:10.080 align:start position:0% because those credentials are worth a 00:19:10.080 --> 00:19:11.749 align:start position:0% because those credentials are worth a lot<00:19:10.200> those<00:19:10.830> credentials<00:19:11.190> are<00:19:11.460> worth<00:19:11.610> the 00:19:11.749 --> 00:19:11.759 align:start position:0% lot those credentials are worth the 00:19:11.759 --> 00:19:12.649 align:start position:0% lot those credentials are worth the money<00:19:11.940> they<00:19:12.059> control 00:19:12.649 --> 00:19:12.659 align:start position:0% money they control 00:19:12.659 --> 00:19:14.629 align:start position:0% money they control so<00:19:13.470> this<00:19:13.619> basically<00:19:14.039> creates<00:19:14.309> an<00:19:14.399> environment 00:19:14.629 --> 00:19:14.639 align:start position:0% so this basically creates an environment 00:19:14.639 --> 00:19:17.210 align:start position:0% so this basically creates an environment that<00:19:14.970> adds<00:19:15.389> another<00:19:16.139> level<00:19:16.320> of<00:19:16.499> security<00:19:16.679> and 00:19:17.210 --> 00:19:17.220 align:start position:0% that adds another level of security and 00:19:17.220 --> 00:19:19.220 align:start position:0% that adds another level of security and increases<00:19:17.730> the<00:19:17.820> overall<00:19:17.879> reliability<00:19:18.360> of<00:19:18.840> the 00:19:19.220 --> 00:19:19.230 align:start position:0% increases the overall reliability of the 00:19:19.230 --> 00:19:21.440 align:start position:0% increases the overall reliability of the network<00:19:20.029> the<00:19:21.029> other<00:19:21.149> really<00:19:21.360> interesting 00:19:21.440 --> 00:19:21.450 align:start position:0% network the other really interesting 00:19:21.450 --> 00:19:23.600 align:start position:0% network the other really interesting thing<00:19:22.019> is<00:19:22.259> that<00:19:22.320> this<00:19:22.710> gives<00:19:22.950> control<00:19:23.490> of 00:19:23.600 --> 00:19:23.610 align:start position:0% thing is that this gives control of 00:19:23.610 --> 00:19:27.200 align:start position:0% thing is that this gives control of private<00:19:23.999> keys<00:19:24.210> to<00:19:25.369> third<00:19:26.369> parties<00:19:26.759> that<00:19:26.789> can 00:19:27.200 --> 00:19:27.210 align:start position:0% private keys to third parties that can 00:19:27.210 --> 00:19:29.690 align:start position:0% private keys to third parties that can use<00:19:27.480> those<00:19:27.659> private<00:19:28.080> keys<00:19:28.289> to<00:19:28.980> sign<00:19:29.190> those<00:19:29.369> to 00:19:29.690 --> 00:19:29.700 align:start position:0% use those private keys to sign those to 00:19:29.700 --> 00:19:32.060 align:start position:0% use those private keys to sign those to sign<00:19:29.850> transactions<00:19:30.570> on<00:19:31.320> other<00:19:31.559> chains<00:19:31.860> or 00:19:32.060 --> 00:19:32.070 align:start position:0% sign transactions on other chains or 00:19:32.070 --> 00:19:34.310 align:start position:0% sign transactions on other chains or other<00:19:32.190> infrastructure<00:19:32.850> on<00:19:33.749> behalf<00:19:34.080> of<00:19:34.200> the 00:19:34.310 --> 00:19:34.320 align:start position:0% other infrastructure on behalf of the 00:19:34.320 --> 00:19:37.039 align:start position:0% other infrastructure on behalf of the contract<00:19:34.769> so<00:19:35.580> now<00:19:35.759> a<00:19:35.789> smart<00:19:36.210> contract<00:19:36.720> can 00:19:37.039 --> 00:19:37.049 align:start position:0% contract so now a smart contract can 00:19:37.049 --> 00:19:39.289 align:start position:0% contract so now a smart contract can have<00:19:37.649> a<00:19:37.679> chain<00:19:38.429> link<00:19:38.580> node<00:19:38.789> that<00:19:38.940> holds 00:19:39.289 --> 00:19:39.299 align:start position:0% have a chain link node that holds 00:19:39.299 --> 00:19:41.600 align:start position:0% have a chain link node that holds private<00:19:39.659> keys<00:19:39.840> that<00:19:40.529> it's<00:19:40.830> responsible<00:19:41.549> for 00:19:41.600 --> 00:19:41.610 align:start position:0% private keys that it's responsible for 00:19:41.610 --> 00:19:45.259 align:start position:0% private keys that it's responsible for using<00:19:41.940> on<00:19:42.210> behalf<00:19:42.480> of<00:19:42.690> that<00:19:42.899> contract<00:19:44.269> which 00:19:45.259 --> 00:19:45.269 align:start position:0% using on behalf of that contract which 00:19:45.269 --> 00:19:47.090 align:start position:0% using on behalf of that contract which is<00:19:45.299> is<00:19:45.840> a<00:19:45.960> pretty<00:19:46.619> unique<00:19:46.830> piece<00:19:47.070> of 00:19:47.090 --> 00:19:47.100 align:start position:0% is is a pretty unique piece of 00:19:47.100 --> 00:19:48.980 align:start position:0% is is a pretty unique piece of functionality<00:19:47.340> that<00:19:47.909> we<00:19:48.240> don't<00:19:48.570> have<00:19:48.690> time<00:19:48.869> to 00:19:48.980 --> 00:19:48.990 align:start position:0% functionality that we don't have time to 00:19:48.990 --> 00:19:50.810 align:start position:0% functionality that we don't have time to go<00:19:49.080> into<00:19:49.169> all<00:19:49.230> the<00:19:49.379> benefits<00:19:49.740> but<00:19:49.799> if<00:19:50.220> you've 00:19:50.810 --> 00:19:50.820 align:start position:0% go into all the benefits but if you've 00:19:50.820 --> 00:19:52.460 align:start position:0% go into all the benefits but if you've ever<00:19:50.909> thought<00:19:51.389> about<00:19:51.600> using<00:19:51.809> that<00:19:52.049> you'll<00:19:52.289> see 00:19:52.460 --> 00:19:52.470 align:start position:0% ever thought about using that you'll see 00:19:52.470 --> 00:19:54.560 align:start position:0% ever thought about using that you'll see it's<00:19:52.619> a<00:19:52.710> it's<00:19:53.190> a<00:19:53.549> big<00:19:53.700> deal 00:19:54.560 --> 00:19:54.570 align:start position:0% it's a it's a big deal 00:19:54.570 --> 00:19:57.260 align:start position:0% it's a it's a big deal so<00:19:55.500> the<00:19:56.040> other<00:19:56.160> thing<00:19:56.430> that<00:19:56.460> this<00:19:56.700> provides<00:19:57.090> is 00:19:57.260 --> 00:19:57.270 align:start position:0% so the other thing that this provides is 00:19:57.270 --> 00:19:59.600 align:start position:0% so the other thing that this provides is it<00:19:57.390> provides<00:19:57.750> an<00:19:57.960> off<00:19:58.110> chain<00:19:58.500> code<00:19:59.160> execution 00:19:59.600 --> 00:19:59.610 align:start position:0% it provides an off chain code execution 00:19:59.610 --> 00:20:01.970 align:start position:0% it provides an off chain code execution environment<00:20:00.180> so<00:20:00.690> basically<00:20:01.050> you<00:20:01.530> now<00:20:01.680> have<00:20:01.950> a 00:20:01.970 --> 00:20:01.980 align:start position:0% environment so basically you now have a 00:20:01.980 --> 00:20:04.940 align:start position:0% environment so basically you now have a place<00:20:02.310> to<00:20:03.300> execute<00:20:03.780> smart<00:20:04.260> contract<00:20:04.740> code 00:20:04.940 --> 00:20:04.950 align:start position:0% place to execute smart contract code 00:20:04.950 --> 00:20:07.310 align:start position:0% place to execute smart contract code privately<00:20:05.610> you<00:20:06.330> have<00:20:06.480> a<00:20:06.510> place<00:20:06.780> where<00:20:07.020> you 00:20:07.310 --> 00:20:07.320 align:start position:0% privately you have a place where you 00:20:07.320 --> 00:20:09.380 align:start position:0% privately you have a place where you could<00:20:07.710> take<00:20:07.860> smart<00:20:08.130> contract<00:20:08.550> code<00:20:08.790> and<00:20:09.030> you 00:20:09.380 --> 00:20:09.390 align:start position:0% could take smart contract code and you 00:20:09.390 --> 00:20:10.760 align:start position:0% could take smart contract code and you could<00:20:09.540> run<00:20:09.660> half<00:20:09.960> of<00:20:10.050> an<00:20:10.140> on<00:20:10.260> chain<00:20:10.530> and<00:20:10.710> you 00:20:10.760 --> 00:20:10.770 align:start position:0% could run half of an on chain and you 00:20:10.770 --> 00:20:12.500 align:start position:0% could run half of an on chain and you could<00:20:10.890> run<00:20:11.040> half<00:20:11.220> of<00:20:11.310> it<00:20:11.430> off<00:20:11.520> chain<00:20:11.820> and<00:20:12.060> if 00:20:12.500 --> 00:20:12.510 align:start position:0% could run half of it off chain and if 00:20:12.510 --> 00:20:13.940 align:start position:0% could run half of it off chain and if you<00:20:12.570> run<00:20:12.720> it<00:20:12.810> off<00:20:12.930> chain<00:20:13.230> you<00:20:13.410> run<00:20:13.620> it<00:20:13.710> in<00:20:13.830> this 00:20:13.940 --> 00:20:13.950 align:start position:0% you run it off chain you run it in this 00:20:13.950 --> 00:20:15.980 align:start position:0% you run it off chain you run it in this secure<00:20:14.250> environment<00:20:14.730> in<00:20:15.330> this<00:20:15.420> environment 00:20:15.980 --> 00:20:15.990 align:start position:0% secure environment in this environment 00:20:15.990 --> 00:20:17.450 align:start position:0% secure environment in this environment where<00:20:16.110> you<00:20:16.260> could<00:20:16.380> send<00:20:16.650> it<00:20:16.740> out<00:20:16.830> to<00:20:16.980> 50<00:20:17.250> notes 00:20:17.450 --> 00:20:17.460 align:start position:0% where you could send it out to 50 notes 00:20:17.460 --> 00:20:19.640 align:start position:0% where you could send it out to 50 notes and<00:20:18.240> the<00:20:18.450> off<00:20:18.570> chain<00:20:18.870> code<00:20:19.050> you<00:20:19.200> sent<00:20:19.470> out 00:20:19.640 --> 00:20:19.650 align:start position:0% and the off chain code you sent out 00:20:19.650 --> 00:20:22.730 align:start position:0% and the off chain code you sent out encrypt<00:20:20.220> it<00:20:20.340> to<00:20:20.430> the<00:20:20.520> 50<00:20:20.790> nodes<00:20:21.260> those<00:20:22.260> 50<00:20:22.590> node 00:20:22.730 --> 00:20:22.740 align:start position:0% encrypt it to the 50 nodes those 50 node 00:20:22.740 --> 00:20:23.900 align:start position:0% encrypt it to the 50 nodes those 50 node operators<00:20:23.190> won't<00:20:23.400> even<00:20:23.580> know<00:20:23.640> the<00:20:23.760> code 00:20:23.900 --> 00:20:23.910 align:start position:0% operators won't even know the code 00:20:23.910 --> 00:20:26.540 align:start position:0% operators won't even know the code they're<00:20:24.090> running<00:20:24.360> and<00:20:25.140> you'll<00:20:25.890> get<00:20:26.010> the 00:20:26.540 --> 00:20:26.550 align:start position:0% they're running and you'll get the 00:20:26.550 --> 00:20:28.220 align:start position:0% they're running and you'll get the scalability<00:20:27.180> benefits<00:20:27.600> and<00:20:27.930> the<00:20:27.990> kind<00:20:28.170> of 00:20:28.220 --> 00:20:28.230 align:start position:0% scalability benefits and the kind of 00:20:28.230 --> 00:20:30.110 align:start position:0% scalability benefits and the kind of identity<00:20:28.560> confidentiality<00:20:29.520> benefits<00:20:29.910> of 00:20:30.110 --> 00:20:30.120 align:start position:0% identity confidentiality benefits of 00:20:30.120 --> 00:20:32.690 align:start position:0% identity confidentiality benefits of being<00:20:30.870> able<00:20:31.050> to<00:20:31.200> use<00:20:31.500> a<00:20:31.530> system<00:20:32.130> that<00:20:32.520> isn't 00:20:32.690 --> 00:20:32.700 align:start position:0% being able to use a system that isn't 00:20:32.700 --> 00:20:35.150 align:start position:0% being able to use a system that isn't you<00:20:33.510> know<00:20:33.600> the<00:20:33.720> very<00:20:33.900> costly<00:20:34.260> on<00:20:34.440> chain<00:20:34.710> on 00:20:35.150 --> 00:20:35.160 align:start position:0% you know the very costly on chain on 00:20:35.160 --> 00:20:37.490 align:start position:0% you know the very costly on chain on chain<00:20:35.220> system<00:20:35.940> right<00:20:36.360> so<00:20:36.420> you<00:20:36.660> basically<00:20:37.290> get 00:20:37.490 --> 00:20:37.500 align:start position:0% chain system right so you basically get 00:20:37.500 --> 00:20:39.710 align:start position:0% chain system right so you basically get an<00:20:37.650> environment<00:20:38.160> where<00:20:39.060> you<00:20:39.180> can<00:20:39.360> do<00:20:39.510> some 00:20:39.710 --> 00:20:39.720 align:start position:0% an environment where you can do some 00:20:39.720 --> 00:20:43.930 align:start position:0% an environment where you can do some computation<00:20:40.790> in<00:20:41.790> in<00:20:42.120> a<00:20:42.180> layer<00:20:42.360> 2<00:20:42.600> system<00:20:42.990> that 00:20:43.930 --> 00:20:43.940 align:start position:0% computation in in a layer 2 system that 00:20:43.940 --> 00:20:46.070 align:start position:0% computation in in a layer 2 system that initially<00:20:44.940> is<00:20:45.030> focused<00:20:45.360> on<00:20:45.450> the<00:20:45.570> data<00:20:45.660> but<00:20:45.960> can 00:20:46.070 --> 00:20:46.080 align:start position:0% initially is focused on the data but can 00:20:46.080 --> 00:20:47.660 align:start position:0% initially is focused on the data but can expand<00:20:46.410> to<00:20:46.530> whatever<00:20:46.680> computation<00:20:47.400> you<00:20:47.490> feel 00:20:47.660 --> 00:20:47.670 align:start position:0% expand to whatever computation you feel 00:20:47.670 --> 00:20:51.320 align:start position:0% expand to whatever computation you feel is<00:20:47.790> usable<00:20:49.070> now<00:20:50.070> the<00:20:50.130> other<00:20:50.640> really<00:20:50.880> really 00:20:51.320 --> 00:20:51.330 align:start position:0% is usable now the other really really 00:20:51.330 --> 00:20:54.620 align:start position:0% is usable now the other really really big<00:20:51.480> benefit<00:20:51.900> of<00:20:53.060> having<00:20:54.060> a<00:20:54.300> trusted 00:20:54.620 --> 00:20:54.630 align:start position:0% big benefit of having a trusted 00:20:54.630 --> 00:20:57.440 align:start position:0% big benefit of having a trusted execution<00:20:54.810> environment<00:20:55.970> how<00:20:56.970> is<00:20:57.150> your<00:20:57.300> off 00:20:57.440 --> 00:20:57.450 align:start position:0% execution environment how is your off 00:20:57.450 --> 00:20:59.060 align:start position:0% execution environment how is your off chain<00:20:57.720> agent<00:20:58.110> I<00:20:58.290> mean<00:20:58.680> really<00:20:58.830> that's 00:20:59.060 --> 00:20:59.070 align:start position:0% chain agent I mean really that's 00:20:59.070 --> 00:21:00.530 align:start position:0% chain agent I mean really that's probably<00:20:59.610> the<00:20:59.820> best<00:21:00.030> way<00:21:00.180> to<00:21:00.240> think<00:21:00.420> about 00:21:00.530 --> 00:21:00.540 align:start position:0% probably the best way to think about 00:21:00.540 --> 00:21:02.630 align:start position:0% probably the best way to think about this<00:21:00.750> it's<00:21:01.020> there's<00:21:01.740> an<00:21:01.860> off<00:21:02.010> train<00:21:02.280> a<00:21:02.400> gent 00:21:02.630 --> 00:21:02.640 align:start position:0% this it's there's an off train a gent 00:21:02.640 --> 00:21:04.730 align:start position:0% this it's there's an off train a gent that's<00:21:03.000> responsible<00:21:03.600> for<00:21:03.960> making<00:21:04.140> sure<00:21:04.500> what 00:21:04.730 --> 00:21:04.740 align:start position:0% that's responsible for making sure what 00:21:04.740 --> 00:21:07.010 align:start position:0% that's responsible for making sure what your<00:21:04.860> contract<00:21:05.310> should<00:21:05.640> do<00:21:05.850> actually<00:21:06.660> happens 00:21:07.010 --> 00:21:07.020 align:start position:0% your contract should do actually happens 00:21:07.020 --> 00:21:09.080 align:start position:0% your contract should do actually happens and<00:21:07.290> we<00:21:07.980> want<00:21:08.160> that<00:21:08.310> off<00:21:08.430> chain<00:21:08.640> agent<00:21:08.970> to<00:21:09.060> be 00:21:09.080 --> 00:21:09.090 align:start position:0% and we want that off chain agent to be 00:21:09.090 --> 00:21:10.310 align:start position:0% and we want that off chain agent to be as<00:21:09.270> reliable<00:21:09.720> as<00:21:09.810> possible 00:21:10.310 --> 00:21:10.320 align:start position:0% as reliable as possible 00:21:10.320 --> 00:21:14.480 align:start position:0% as reliable as possible now<00:21:11.840> one<00:21:12.840> one<00:21:13.440> good<00:21:13.470> example<00:21:13.710> just<00:21:14.220> to<00:21:14.310> put 00:21:14.480 --> 00:21:14.490 align:start position:0% now one one good example just to put 00:21:14.490 --> 00:21:16.460 align:start position:0% now one one good example just to put this<00:21:14.580> in<00:21:14.730> context<00:21:15.300> is<00:21:15.510> if<00:21:15.930> you<00:21:16.080> had<00:21:16.230> something 00:21:16.460 --> 00:21:16.470 align:start position:0% this in context is if you had something 00:21:16.470 --> 00:21:17.930 align:start position:0% this in context is if you had something like<00:21:16.590> a<00:21:16.710> lottery<00:21:16.920> contract<00:21:17.490> which<00:21:17.730> was<00:21:17.880> a 00:21:17.930 --> 00:21:17.940 align:start position:0% like a lottery contract which was a 00:21:17.940 --> 00:21:19.940 align:start position:0% like a lottery contract which was a large<00:21:18.210> amount<00:21:18.570> which<00:21:19.200> is<00:21:19.230> a<00:21:19.350> large<00:21:19.530> amount<00:21:19.710> of 00:21:19.940 --> 00:21:19.950 align:start position:0% large amount which is a large amount of 00:21:19.950 --> 00:21:22.390 align:start position:0% large amount which is a large amount of current<00:21:20.190> main<00:21:20.340> net<00:21:20.490> traffic<00:21:20.880> and<00:21:21.210> you<00:21:21.840> wanted 00:21:22.390 --> 00:21:22.400 align:start position:0% current main net traffic and you wanted 00:21:22.400 --> 00:21:24.770 align:start position:0% current main net traffic and you wanted randomness<00:21:23.400> you<00:21:24.240> could<00:21:24.420> have<00:21:24.600> that 00:21:24.770 --> 00:21:24.780 align:start position:0% randomness you could have that 00:21:24.780 --> 00:21:26.270 align:start position:0% randomness you could have that randomness<00:21:25.290> generated<00:21:25.890> right<00:21:26.040> in<00:21:26.190> the 00:21:26.270 --> 00:21:26.280 align:start position:0% randomness generated right in the 00:21:26.280 --> 00:21:28.400 align:start position:0% randomness generated right in the trusted<00:21:26.640> execution<00:21:26.820> environment<00:21:27.570> using<00:21:28.260> the 00:21:28.400 --> 00:21:28.410 align:start position:0% trusted execution environment using the 00:21:28.410 --> 00:21:31.580 align:start position:0% trusted execution environment using the most<00:21:28.560> common<00:21:29.010> best<00:21:29.640> tested<00:21:30.060> libraries<00:21:30.590> you 00:21:31.580 --> 00:21:31.590 align:start position:0% most common best tested libraries you 00:21:31.590 --> 00:21:32.840 align:start position:0% most common best tested libraries you would<00:21:31.740> generate<00:21:32.010> that<00:21:32.160> randomness<00:21:32.640> and<00:21:32.760> you 00:21:32.840 --> 00:21:32.850 align:start position:0% would generate that randomness and you 00:21:32.850 --> 00:21:34.580 align:start position:0% would generate that randomness and you would<00:21:32.970> send<00:21:33.240> it<00:21:33.360> back<00:21:33.540> into<00:21:34.020> the<00:21:34.110> contract 00:21:34.580 --> 00:21:34.590 align:start position:0% would send it back into the contract 00:21:34.590 --> 00:21:37.360 align:start position:0% would send it back into the contract from<00:21:35.340> this<00:21:35.550> highly<00:21:35.880> reliable<00:21:36.180> environment 00:21:37.360 --> 00:21:37.370 align:start position:0% from this highly reliable environment 00:21:37.370 --> 00:21:39.440 align:start position:0% from this highly reliable environment which<00:21:38.370> would<00:21:38.580> give<00:21:38.760> you<00:21:38.880> the<00:21:39.000> randomness<00:21:39.420> that 00:21:39.440 --> 00:21:39.450 align:start position:0% which would give you the randomness that 00:21:39.450 --> 00:21:41.300 align:start position:0% which would give you the randomness that the<00:21:39.630> contract<00:21:40.050> needs<00:21:40.260> to<00:21:40.530> basically<00:21:40.920> function 00:21:41.300 --> 00:21:41.310 align:start position:0% the contract needs to basically function 00:21:41.310 --> 00:21:42.890 align:start position:0% the contract needs to basically function I<00:21:41.430> mean<00:21:41.460> a<00:21:41.640> lottery<00:21:41.880> contract<00:21:42.390> is<00:21:42.570> basically 00:21:42.890 --> 00:21:42.900 align:start position:0% I mean a lottery contract is basically 00:21:42.900 --> 00:21:44.060 align:start position:0% I mean a lottery contract is basically just<00:21:42.990> taking<00:21:43.290> people's<00:21:43.530> money<00:21:43.860> and 00:21:44.060 --> 00:21:44.070 align:start position:0% just taking people's money and 00:21:44.070 --> 00:21:45.770 align:start position:0% just taking people's money and guaranteeing<00:21:45.000> them<00:21:45.210> some<00:21:45.480> amount<00:21:45.690> of 00:21:45.770 --> 00:21:45.780 align:start position:0% guaranteeing them some amount of 00:21:45.780 --> 00:21:49.640 align:start position:0% guaranteeing them some amount of randomness<00:21:46.400> now<00:21:47.400> let's<00:21:48.060> say<00:21:48.270> you<00:21:49.080> you<00:21:49.440> worry 00:21:49.640 --> 00:21:49.650 align:start position:0% randomness now let's say you you worry 00:21:49.650 --> 00:21:51.800 align:start position:0% randomness now let's say you you worry you<00:21:49.890> you<00:21:50.070> were<00:21:50.190> able<00:21:50.400> to<00:21:50.550> get<00:21:51.240> this<00:21:51.420> set<00:21:51.600> up<00:21:51.630> and 00:21:51.800 --> 00:21:51.810 align:start position:0% you you were able to get this set up and 00:21:51.810 --> 00:21:53.270 align:start position:0% you you were able to get this set up and you<00:21:51.930> had<00:21:52.080> the<00:21:52.170> randomness<00:21:52.590> number<00:21:52.860> going<00:21:53.070> into 00:21:53.270 --> 00:21:53.280 align:start position:0% you had the randomness number going into 00:21:53.280 --> 00:21:55.160 align:start position:0% you had the randomness number going into your<00:21:53.400> contract<00:21:53.910> and<00:21:54.120> and<00:21:54.300> generating<00:21:55.050> the 00:21:55.160 --> 00:21:55.170 align:start position:0% your contract and and generating the 00:21:55.170 --> 00:21:56.840 align:start position:0% your contract and and generating the randomness<00:21:55.560> you<00:21:55.830> need<00:21:56.070> to<00:21:56.280> prove<00:21:56.520> to<00:21:56.580> people 00:21:56.840 --> 00:21:56.850 align:start position:0% randomness you need to prove to people 00:21:56.850 --> 00:21:58.520 align:start position:0% randomness you need to prove to people that<00:21:57.060> your<00:21:57.240> lottery<00:21:57.420> contract<00:21:57.930> is<00:21:58.080> reliable 00:21:58.520 --> 00:21:58.530 align:start position:0% that your lottery contract is reliable 00:21:58.530 --> 00:22:01.730 align:start position:0% that your lottery contract is reliable but<00:21:59.280> realistically<00:22:00.060> you<00:22:00.870> want<00:22:01.410> it<00:22:01.500> to<00:22:01.590> have<00:22:01.710> a 00:22:01.730 --> 00:22:01.740 align:start position:0% but realistically you want it to have a 00:22:01.740 --> 00:22:03.890 align:start position:0% but realistically you want it to have a level<00:22:02.040> of<00:22:02.100> decentralization<00:22:02.760> that<00:22:03.570> provides 00:22:03.890 --> 00:22:03.900 align:start position:0% level of decentralization that provides 00:22:03.900 --> 00:22:06.200 align:start position:0% level of decentralization that provides even<00:22:04.050> more<00:22:04.170> guarantees<00:22:04.770> those<00:22:05.760> additional 00:22:06.200 --> 00:22:06.210 align:start position:0% even more guarantees those additional 00:22:06.210 --> 00:22:08.090 align:start position:0% even more guarantees those additional guarantees<00:22:06.600> is<00:22:06.810> basically 00:22:08.090 --> 00:22:08.100 align:start position:0% guarantees is basically 00:22:08.100 --> 00:22:10.279 align:start position:0% guarantees is basically we're<00:22:08.490> the<00:22:09.450> chain-link<00:22:09.660> approach<00:22:10.080> really 00:22:10.279 --> 00:22:10.289 align:start position:0% we're the chain-link approach really 00:22:10.289 --> 00:22:13.220 align:start position:0% we're the chain-link approach really really<00:22:10.679> comes<00:22:10.860> in<00:22:11.039> if<00:22:11.460> you<00:22:12.030> want<00:22:12.330> multiple 00:22:13.220 --> 00:22:13.230 align:start position:0% really comes in if you want multiple 00:22:13.230 --> 00:22:15.470 align:start position:0% really comes in if you want multiple independent<00:22:13.740> node<00:22:13.860> operators<00:22:14.400> to<00:22:14.940> guarantee 00:22:15.470 --> 00:22:15.480 align:start position:0% independent node operators to guarantee 00:22:15.480 --> 00:22:17.270 align:start position:0% independent node operators to guarantee the<00:22:15.660> quality<00:22:15.690> of<00:22:16.140> a<00:22:16.200> critical<00:22:16.620> input<00:22:16.980> into 00:22:17.270 --> 00:22:17.280 align:start position:0% the quality of a critical input into 00:22:17.280 --> 00:22:19.970 align:start position:0% the quality of a critical input into your<00:22:17.309> contract<00:22:17.880> such<00:22:18.240> as<00:22:18.390> randomness<00:22:18.840> you<00:22:19.049> can 00:22:19.970 --> 00:22:19.980 align:start position:0% your contract such as randomness you can 00:22:19.980 --> 00:22:22.010 align:start position:0% your contract such as randomness you can now<00:22:20.100> purchase<00:22:20.400> however<00:22:21.059> many<00:22:21.480> independent 00:22:22.010 --> 00:22:22.020 align:start position:0% now purchase however many independent 00:22:22.020 --> 00:22:24.860 align:start position:0% now purchase however many independent node<00:22:22.140> operators<00:22:22.650> you<00:22:22.919> feel<00:22:23.130> you<00:22:23.280> need<00:22:23.490> to<00:22:23.870> have 00:22:24.860 --> 00:22:24.870 align:start position:0% node operators you feel you need to have 00:22:24.870 --> 00:22:26.570 align:start position:0% node operators you feel you need to have the<00:22:25.140> security<00:22:25.650> you<00:22:25.740> need<00:22:25.890> about<00:22:26.039> an<00:22:26.280> input 00:22:26.570 --> 00:22:26.580 align:start position:0% the security you need about an input 00:22:26.580 --> 00:22:29.960 align:start position:0% the security you need about an input right<00:22:27.510> this<00:22:28.380> is<00:22:28.530> a<00:22:28.559> big<00:22:28.770> difference<00:22:28.950> this<00:22:29.789> is<00:22:29.850> a 00:22:29.960 --> 00:22:29.970 align:start position:0% right this is a big difference this is a 00:22:29.970 --> 00:22:31.850 align:start position:0% right this is a big difference this is a big<00:22:30.150> difference<00:22:30.270> from<00:22:30.510> I<00:22:30.929> can<00:22:31.289> only<00:22:31.440> use<00:22:31.620> one 00:22:31.850 --> 00:22:31.860 align:start position:0% big difference from I can only use one 00:22:31.860 --> 00:22:34.250 align:start position:0% big difference from I can only use one node<00:22:32.039> or<00:22:32.400> I<00:22:32.429> can<00:22:32.700> run<00:22:32.850> an<00:22:32.940> Oracle<00:22:33.390> or<00:22:33.600> I<00:22:33.900> don't 00:22:34.250 --> 00:22:34.260 align:start position:0% node or I can run an Oracle or I don't 00:22:34.260 --> 00:22:35.240 align:start position:0% node or I can run an Oracle or I don't know<00:22:34.380> what<00:22:34.500> I'm<00:22:34.590> gonna<00:22:34.710> do<00:22:34.890> something<00:22:35.130> not 00:22:35.240 --> 00:22:35.250 align:start position:0% know what I'm gonna do something not 00:22:35.250 --> 00:22:37.310 align:start position:0% know what I'm gonna do something not gonna<00:22:35.370> build<00:22:35.580> the<00:22:35.669> application<00:22:36.210> I<00:22:36.270> want<00:22:36.450> this 00:22:37.310 --> 00:22:37.320 align:start position:0% gonna build the application I want this 00:22:37.320 --> 00:22:40.130 align:start position:0% gonna build the application I want this is<00:22:37.590> okay<00:22:38.549> I<00:22:38.580> can<00:22:39.059> give<00:22:39.390> people<00:22:39.570> a<00:22:39.750> reliable 00:22:40.130 --> 00:22:40.140 align:start position:0% is okay I can give people a reliable 00:22:40.140 --> 00:22:42.049 align:start position:0% is okay I can give people a reliable contract<00:22:40.650> in<00:22:40.860> this<00:22:41.010> system<00:22:41.220> over<00:22:41.549> here<00:22:41.580> and 00:22:42.049 --> 00:22:42.059 align:start position:0% contract in this system over here and 00:22:42.059 --> 00:22:44.570 align:start position:0% contract in this system over here and now<00:22:42.750> I<00:22:42.780> have<00:22:42.960> a<00:22:43.110> system<00:22:43.380> that<00:22:44.130> can<00:22:44.280> reliably 00:22:44.570 --> 00:22:44.580 align:start position:0% now I have a system that can reliably 00:22:44.580 --> 00:22:46.760 align:start position:0% now I have a system that can reliably trigger<00:22:45.120> that<00:22:45.299> contract<00:22:45.870> in<00:22:46.380> a<00:22:46.470> way<00:22:46.620> that 00:22:46.760 --> 00:22:46.770 align:start position:0% trigger that contract in a way that 00:22:46.770 --> 00:22:49.580 align:start position:0% trigger that contract in a way that maintains<00:22:46.950> its<00:22:47.400> overall<00:22:47.760> security<00:22:48.120> and<00:22:48.590> then 00:22:49.580 --> 00:22:49.590 align:start position:0% maintains its overall security and then 00:22:49.590 --> 00:22:52.360 align:start position:0% maintains its overall security and then I<00:22:49.620> have<00:22:49.860> systems<00:22:50.280> that<00:22:50.400> can<00:22:50.640> reliably<00:22:50.970> pay<00:22:51.720> and 00:22:52.360 --> 00:22:52.370 align:start position:0% I have systems that can reliably pay and 00:22:52.370 --> 00:22:55.070 align:start position:0% I have systems that can reliably pay and affect<00:22:53.370> the<00:22:53.880> contract<00:22:54.390> settlement<00:22:54.840> and 00:22:55.070 --> 00:22:55.080 align:start position:0% affect the contract settlement and 00:22:55.080 --> 00:22:57.409 align:start position:0% affect the contract settlement and outcomes<00:22:55.440> in<00:22:55.740> all<00:22:56.220> the<00:22:56.340> places<00:22:56.520> that<00:22:56.730> I<00:22:57.090> want 00:22:57.409 --> 00:22:57.419 align:start position:0% outcomes in all the places that I want 00:22:57.419 --> 00:22:58.970 align:start position:0% outcomes in all the places that I want it<00:22:57.570> to<00:22:57.600> happen<00:22:57.780> right<00:22:58.080> that<00:22:58.350> that<00:22:58.559> takes<00:22:58.799> us 00:22:58.970 --> 00:22:58.980 align:start position:0% it to happen right that that takes us 00:22:58.980 --> 00:23:01.310 align:start position:0% it to happen right that that takes us from<00:22:59.159> let's<00:22:59.820> write<00:23:00.000> contract<00:23:00.450> code<00:23:00.690> that 00:23:01.310 --> 00:23:01.320 align:start position:0% from let's write contract code that 00:23:01.320 --> 00:23:03.440 align:start position:0% from let's write contract code that moves<00:23:01.590> information<00:23:02.130> and<00:23:02.280> tokens<00:23:02.610> around<00:23:02.880> - 00:23:03.440 --> 00:23:03.450 align:start position:0% moves information and tokens around - 00:23:03.450 --> 00:23:06.320 align:start position:0% moves information and tokens around - let's<00:23:03.659> write<00:23:03.809> contract<00:23:04.289> code<00:23:04.530> that<00:23:05.280> reacts<00:23:06.270> to 00:23:06.320 --> 00:23:06.330 align:start position:0% let's write contract code that reacts to 00:23:06.330 --> 00:23:09.020 align:start position:0% let's write contract code that reacts to valuable<00:23:06.690> external<00:23:07.200> events<00:23:07.559> and<00:23:08.030> effects 00:23:09.020 --> 00:23:09.030 align:start position:0% valuable external events and effects 00:23:09.030 --> 00:23:13.039 align:start position:0% valuable external events and effects valuable<00:23:09.630> external<00:23:10.020> events<00:23:11.179> so<00:23:12.179> the 00:23:13.039 --> 00:23:13.049 align:start position:0% valuable external events so the 00:23:13.049 --> 00:23:15.320 align:start position:0% valuable external events so the fundamental<00:23:13.770> gist<00:23:14.130> of<00:23:14.220> the<00:23:14.309> approach<00:23:14.580> is<00:23:14.940> the 00:23:15.320 --> 00:23:15.330 align:start position:0% fundamental gist of the approach is the 00:23:15.330 --> 00:23:18.350 align:start position:0% fundamental gist of the approach is the centralization<00:23:16.610> multitude<00:23:17.610> of<00:23:17.730> inputs<00:23:18.240> and 00:23:18.350 --> 00:23:18.360 align:start position:0% centralization multitude of inputs and 00:23:18.360 --> 00:23:21.289 align:start position:0% centralization multitude of inputs and outputs<00:23:18.720> the<00:23:19.590> application<00:23:20.250> of<00:23:20.429> this<00:23:20.789> of 00:23:21.289 --> 00:23:21.299 align:start position:0% outputs the application of this of 00:23:21.299 --> 00:23:23.419 align:start position:0% outputs the application of this of trusted<00:23:21.690> execution<00:23:21.900> environments<00:23:22.710> through 00:23:23.419 --> 00:23:23.429 align:start position:0% trusted execution environments through 00:23:23.429 --> 00:23:26.240 align:start position:0% trusted execution environments through Town<00:23:24.059> Crier<00:23:24.620> which<00:23:25.620> we're<00:23:25.799> very<00:23:25.950> happy<00:23:26.070> about 00:23:26.240 --> 00:23:26.250 align:start position:0% Town Crier which we're very happy about 00:23:26.250 --> 00:23:28.190 align:start position:0% Town Crier which we're very happy about the<00:23:26.909> fact<00:23:26.940> that<00:23:27.210> they're<00:23:27.690> able<00:23:27.780> to<00:23:27.900> join<00:23:28.140> us 00:23:28.190 --> 00:23:28.200 align:start position:0% the fact that they're able to join us 00:23:28.200 --> 00:23:31.190 align:start position:0% the fact that they're able to join us and<00:23:28.590> that<00:23:28.770> we're<00:23:28.950> able<00:23:29.010> to<00:23:29.159> together<00:23:29.900> work<00:23:30.900> on 00:23:31.190 --> 00:23:31.200 align:start position:0% and that we're able to together work on 00:23:31.200 --> 00:23:33.580 align:start position:0% and that we're able to together work on a<00:23:31.590> much<00:23:32.039> better<00:23:32.250> and<00:23:32.460> much<00:23:32.549> stronger<00:23:32.820> approach 00:23:33.580 --> 00:23:33.590 align:start position:0% a much better and much stronger approach 00:23:33.590 --> 00:23:37.669 align:start position:0% a much better and much stronger approach and<00:23:35.240> fundamentally<00:23:36.240> speaking<00:23:36.360> the<00:23:37.140> the<00:23:37.169> next 00:23:37.669 --> 00:23:37.679 align:start position:0% and fundamentally speaking the the next 00:23:37.679 --> 00:23:39.890 align:start position:0% and fundamentally speaking the the next steps<00:23:37.890> for<00:23:37.980> us<00:23:38.130> are<00:23:38.520> continuing<00:23:39.480> to<00:23:39.600> include 00:23:39.890 --> 00:23:39.900 align:start position:0% steps for us are continuing to include 00:23:39.900 --> 00:23:41.480 align:start position:0% steps for us are continuing to include other<00:23:40.169> great<00:23:40.409> developers<00:23:40.890> in<00:23:40.980> the<00:23:41.039> project 00:23:41.480 --> 00:23:41.490 align:start position:0% other great developers in the project 00:23:41.490 --> 00:23:43.940 align:start position:0% other great developers in the project continuing<00:23:42.120> to<00:23:42.270> build<00:23:42.480> out<00:23:42.630> the<00:23:43.409> the<00:23:43.770> core 00:23:43.940 --> 00:23:43.950 align:start position:0% continuing to build out the the core 00:23:43.950 --> 00:23:45.980 align:start position:0% continuing to build out the the core functionality<00:23:44.400> a<00:23:44.970> large<00:23:45.480> collection<00:23:45.780> of 00:23:45.980 --> 00:23:45.990 align:start position:0% functionality a large collection of 00:23:45.990 --> 00:23:48.590 align:start position:0% functionality a large collection of chain<00:23:46.230> links<00:23:46.530> and<00:23:46.740> making<00:23:47.400> sure<00:23:47.610> that<00:23:47.909> when<00:23:48.570> a 00:23:48.590 --> 00:23:48.600 align:start position:0% chain links and making sure that when a 00:23:48.600 --> 00:23:50.330 align:start position:0% chain links and making sure that when a smart<00:23:48.840> contract<00:23:49.020> developer<00:23:49.710> sits<00:23:49.919> down<00:23:50.070> and 00:23:50.330 --> 00:23:50.340 align:start position:0% smart contract developer sits down and 00:23:50.340 --> 00:23:52.909 align:start position:0% smart contract developer sits down and wants<00:23:50.610> to<00:23:50.640> build<00:23:50.909> a<00:23:51.210> complex<00:23:51.919> externally 00:23:52.909 --> 00:23:52.919 align:start position:0% wants to build a complex externally 00:23:52.919 --> 00:23:55.220 align:start position:0% wants to build a complex externally connected<00:23:53.130> application<00:23:53.880> they<00:23:54.570> can<00:23:54.840> do<00:23:55.020> that 00:23:55.220 --> 00:23:55.230 align:start position:0% connected application they can do that 00:23:55.230 --> 00:23:59.060 align:start position:0% connected application they can do that in<00:23:55.530> a<00:23:55.919> day<00:23:56.630> somebody<00:23:57.630> can<00:23:57.750> sit<00:23:57.990> down<00:23:58.230> write 00:23:59.060 --> 00:23:59.070 align:start position:0% in a day somebody can sit down write 00:23:59.070 --> 00:24:01.159 align:start position:0% in a day somebody can sit down write their<00:23:59.250> core<00:23:59.429> code<00:23:59.730> and<00:24:00.090> in<00:24:00.419> one<00:24:00.630> day<00:24:00.659> they<00:24:01.110> can 00:24:01.159 --> 00:24:01.169 align:start position:0% their core code and in one day they can 00:24:01.169 --> 00:24:02.810 align:start position:0% their core code and in one day they can get<00:24:01.409> all<00:24:01.590> the<00:24:01.740> inputs<00:24:02.070> and<00:24:02.159> outputs<00:24:02.250> they<00:24:02.610> need 00:24:02.810 --> 00:24:02.820 align:start position:0% get all the inputs and outputs they need 00:24:02.820 --> 00:24:04.430 align:start position:0% get all the inputs and outputs they need connect<00:24:03.179> it<00:24:03.299> to<00:24:03.390> their<00:24:03.480> contract<00:24:03.960> code<00:24:04.169> and 00:24:04.430 --> 00:24:04.440 align:start position:0% connect it to their contract code and 00:24:04.440 --> 00:24:06.500 align:start position:0% connect it to their contract code and broadcast<00:24:05.280> and<00:24:05.520> have<00:24:05.549> that<00:24:05.850> contract<00:24:06.270> working 00:24:06.500 --> 00:24:06.510 align:start position:0% broadcast and have that contract working 00:24:06.510 --> 00:24:09.260 align:start position:0% broadcast and have that contract working and<00:24:06.870> then<00:24:07.620> also<00:24:07.919> turn<00:24:08.400> around<00:24:08.730> to<00:24:09.030> whoever 00:24:09.260 --> 00:24:09.270 align:start position:0% and then also turn around to whoever 00:24:09.270 --> 00:24:10.730 align:start position:0% and then also turn around to whoever they<00:24:09.450> want<00:24:09.630> to<00:24:09.659> show<00:24:09.809> that<00:24:09.960> contract<00:24:10.409> as<00:24:10.559> being 00:24:10.730 --> 00:24:10.740 align:start position:0% they want to show that contract as being 00:24:10.740 --> 00:24:13.460 align:start position:0% they want to show that contract as being reliable<00:24:11.220> and<00:24:11.549> just<00:24:12.030> say<00:24:12.330> to<00:24:12.360> them<00:24:12.600> here's<00:24:13.230> why 00:24:13.460 --> 00:24:13.470 align:start position:0% reliable and just say to them here's why 00:24:13.470 --> 00:24:15.529 align:start position:0% reliable and just say to them here's why you<00:24:13.530> should<00:24:13.860> believe<00:24:14.100> that<00:24:14.429> my<00:24:14.909> contract<00:24:15.330> is 00:24:15.529 --> 00:24:15.539 align:start position:0% you should believe that my contract is 00:24:15.539 --> 00:24:17.450 align:start position:0% you should believe that my contract is reliable<00:24:16.020> it's<00:24:16.500> triggered<00:24:16.860> in<00:24:16.950> this<00:24:17.070> reliable 00:24:17.450 --> 00:24:17.460 align:start position:0% reliable it's triggered in this reliable 00:24:17.460 --> 00:24:19.220 align:start position:0% reliable it's triggered in this reliable way<00:24:17.580> it<00:24:17.850> runs<00:24:18.059> in<00:24:18.179> this<00:24:18.240> reliable<00:24:18.690> system<00:24:19.049> and 00:24:19.220 --> 00:24:19.230 align:start position:0% way it runs in this reliable system and 00:24:19.230 --> 00:24:21.080 align:start position:0% way it runs in this reliable system and then<00:24:19.620> I<00:24:19.679> can<00:24:19.919> provably<00:24:20.340> and<00:24:20.490> reliably<00:24:20.850> tell 00:24:21.080 --> 00:24:21.090 align:start position:0% then I can provably and reliably tell 00:24:21.090 --> 00:24:21.950 align:start position:0% then I can provably and reliably tell you<00:24:21.179> that<00:24:21.330> it's<00:24:21.450> gonna<00:24:21.510> act 00:24:21.950 --> 00:24:21.960 align:start position:0% you that it's gonna act 00:24:21.960 --> 00:24:25.060 align:start position:0% you that it's gonna act the<00:24:22.279> concluded<00:24:23.279> payout<00:24:23.580> the<00:24:23.820> way<00:24:23.909> it<00:24:23.970> should 00:24:25.060 --> 00:24:25.070 align:start position:0% the concluded payout the way it should 00:24:25.070 --> 00:24:28.490 align:start position:0% the concluded payout the way it should so<00:24:26.070> that's<00:24:26.659> mean<00:24:27.659> yeah<00:24:27.779> that's<00:24:27.990> the<00:24:28.200> party<00:24:28.409> of 00:24:28.490 --> 00:24:28.500 align:start position:0% so that's mean yeah that's the party of 00:24:28.500 --> 00:24:30.710 align:start position:0% so that's mean yeah that's the party of work<00:24:28.649> where<00:24:29.460> we're<00:24:30.090> very<00:24:30.270> focused<00:24:30.450> on 00:24:30.710 --> 00:24:30.720 align:start position:0% work where we're very focused on 00:24:30.720 --> 00:24:32.149 align:start position:0% work where we're very focused on basically<00:24:31.080> getting<00:24:31.409> people<00:24:31.679> to<00:24:31.799> the<00:24:31.890> point 00:24:32.149 --> 00:24:32.159 align:start position:0% basically getting people to the point 00:24:32.159 --> 00:24:34.250 align:start position:0% basically getting people to the point where<00:24:32.730> they<00:24:32.850> can<00:24:33.029> do<00:24:33.179> that<00:24:33.210> as<00:24:33.570> soon<00:24:34.140> as 00:24:34.250 --> 00:24:34.260 align:start position:0% where they can do that as soon as 00:24:34.260 --> 00:24:37.460 align:start position:0% where they can do that as soon as possible<00:24:35.149> and<00:24:36.149> you<00:24:36.600> know<00:24:36.659> if<00:24:36.929> you<00:24:37.110> if<00:24:37.140> you 00:24:37.460 --> 00:24:37.470 align:start position:0% possible and you know if you if you 00:24:37.470 --> 00:24:39.350 align:start position:0% possible and you know if you if you folks<00:24:37.740> here<00:24:38.010> need<00:24:38.250> need<00:24:38.610> some<00:24:38.820> functionality 00:24:39.350 --> 00:24:39.360 align:start position:0% folks here need need some functionality 00:24:39.360 --> 00:24:41.210 align:start position:0% folks here need need some functionality like<00:24:39.450> that<00:24:39.690> we're<00:24:40.260> thrilled<00:24:40.500> to<00:24:40.529> talk<00:24:40.740> to<00:24:40.919> you 00:24:41.210 --> 00:24:41.220 align:start position:0% like that we're thrilled to talk to you 00:24:41.220 --> 00:24:43.130 align:start position:0% like that we're thrilled to talk to you we're<00:24:41.669> doing<00:24:41.880> all<00:24:42.000> of<00:24:42.029> this<00:24:42.270> basically<00:24:42.870> so<00:24:43.020> the 00:24:43.130 --> 00:24:43.140 align:start position:0% we're doing all of this basically so the 00:24:43.140 --> 00:24:44.090 align:start position:0% we're doing all of this basically so the community<00:24:43.559> and<00:24:43.679> people<00:24:43.799> in<00:24:43.980> the<00:24:44.070> community 00:24:44.090 --> 00:24:44.100 align:start position:0% community and people in the community 00:24:44.100 --> 00:24:46.399 align:start position:0% community and people in the community can<00:24:44.970> build<00:24:45.179> great<00:24:45.330> exciting<00:24:45.840> applications 00:24:46.399 --> 00:24:46.409 align:start position:0% can build great exciting applications 00:24:46.409 --> 00:24:48.350 align:start position:0% can build great exciting applications really<00:24:47.250> that's<00:24:47.490> what<00:24:47.669> our<00:24:47.789> team<00:24:47.970> is<00:24:48.120> excited 00:24:48.350 --> 00:24:48.360 align:start position:0% really that's what our team is excited 00:24:48.360 --> 00:24:51.049 align:start position:0% really that's what our team is excited about<00:24:48.570> we<00:24:49.020> we<00:24:49.230> want<00:24:49.409> to<00:24:49.470> wake<00:24:49.559> up<00:24:49.770> and<00:24:50.130> we<00:24:50.700> one 00:24:51.049 --> 00:24:51.059 align:start position:0% about we we want to wake up and we one 00:24:51.059 --> 00:24:53.269 align:start position:0% about we we want to wake up and we one day<00:24:51.179> and<00:24:51.299> we<00:24:51.390> want<00:24:51.539> to<00:24:51.630> see<00:24:51.779> like<00:24:52.190> hundreds<00:24:53.190> or 00:24:53.269 --> 00:24:53.279 align:start position:0% day and we want to see like hundreds or 00:24:53.279 --> 00:24:55.789 align:start position:0% day and we want to see like hundreds or thousands<00:24:53.700> of<00:24:53.789> great<00:24:53.970> contracts<00:24:54.600> that<00:24:55.409> that 00:24:55.789 --> 00:24:55.799 align:start position:0% thousands of great contracts that that 00:24:55.799 --> 00:24:59.000 align:start position:0% thousands of great contracts that that do<00:24:55.950> something<00:24:56.279> really<00:24:56.520> meaningful<00:24:56.700> in<00:24:57.529> in<00:24:58.529> in 00:24:59.000 --> 00:24:59.010 align:start position:0% do something really meaningful in in in 00:24:59.010 --> 00:25:00.680 align:start position:0% do something really meaningful in in in industries<00:24:59.580> other<00:24:59.730> than<00:24:59.850> token<00:25:00.330> movement 00:25:00.680 --> 00:25:00.690 align:start position:0% industries other than token movement 00:25:00.690 --> 00:25:03.590 align:start position:0% industries other than token movement that<00:25:01.590> that<00:25:01.919> would<00:25:02.340> be<00:25:02.490> a<00:25:02.520> great<00:25:02.850> thing<00:25:03.090> in<00:25:03.450> our 00:25:03.590 --> 00:25:03.600 align:start position:0% that that would be a great thing in our 00:25:03.600 --> 00:25:14.909 align:start position:0% that that would be a great thing in our opinion<00:25:04.039> so<00:25:05.039> thank<00:25:05.460> you 00:25:14.909 --> 00:25:14.919 align:start position:0% 00:25:14.919 --> 00:25:16.980 align:start position:0% you