WEBVTT Kind: captions Language: en 00:00:00.179 --> 00:00:03.230 align:start position:0% today<00:00:00.780> I'm<00:00:01.170> gonna<00:00:01.410> talk<00:00:01.709> about<00:00:02.240> from 00:00:03.230 --> 00:00:03.240 align:start position:0% today I'm gonna talk about from 00:00:03.240 --> 00:00:05.749 align:start position:0% today I'm gonna talk about from scalability<00:00:03.990> to<00:00:04.110> inclusion<00:00:04.500> and<00:00:05.339> I'm<00:00:05.640> gonna 00:00:05.749 --> 00:00:05.759 align:start position:0% scalability to inclusion and I'm gonna 00:00:05.759 --> 00:00:10.430 align:start position:0% scalability to inclusion and I'm gonna touch<00:00:05.970> on<00:00:06.089> a<00:00:06.240> few<00:00:06.350> concepts<00:00:07.370> the<00:00:08.370> last<00:00:09.139> Def<00:00:10.139> Con 00:00:10.430 --> 00:00:10.440 align:start position:0% touch on a few concepts the last Def Con 00:00:10.440 --> 00:00:12.230 align:start position:0% touch on a few concepts the last Def Con that<00:00:10.469> I<00:00:10.769> was<00:00:11.040> at<00:00:11.370> was<00:00:11.670> two<00:00:11.849> years<00:00:11.969> ago<00:00:12.120> in 00:00:12.230 --> 00:00:12.240 align:start position:0% that I was at was two years ago in 00:00:12.240 --> 00:00:14.839 align:start position:0% that I was at was two years ago in Shanghai<00:00:12.690> and<00:00:13.070> the<00:00:14.070> last<00:00:14.250> two<00:00:14.460> days<00:00:14.610> I've<00:00:14.820> been 00:00:14.839 --> 00:00:14.849 align:start position:0% Shanghai and the last two days I've been 00:00:14.849 --> 00:00:18.349 align:start position:0% Shanghai and the last two days I've been attending<00:00:15.389> a<00:00:15.570> lot<00:00:15.839> of<00:00:15.990> talks<00:00:16.260> and<00:00:16.880> I<00:00:17.880> see 00:00:18.349 --> 00:00:18.359 align:start position:0% attending a lot of talks and I see 00:00:18.359 --> 00:00:20.420 align:start position:0% attending a lot of talks and I see there's<00:00:18.570> a<00:00:18.660> great<00:00:18.900> difference<00:00:19.050> and<00:00:19.800> I'm<00:00:20.189> gonna 00:00:20.420 --> 00:00:20.430 align:start position:0% there's a great difference and I'm gonna 00:00:20.430 --> 00:00:23.870 align:start position:0% there's a great difference and I'm gonna go<00:00:20.609> to<00:00:20.850> the<00:00:20.970> summary<00:00:21.300> and<00:00:22.279> just<00:00:23.279> discuss<00:00:23.609> what 00:00:23.870 --> 00:00:23.880 align:start position:0% go to the summary and just discuss what 00:00:23.880 --> 00:00:27.470 align:start position:0% go to the summary and just discuss what we<00:00:24.029> have<00:00:24.350> I<00:00:25.760> think<00:00:26.760> you<00:00:26.820> have<00:00:26.939> talked<00:00:27.150> a<00:00:27.180> lot 00:00:27.470 --> 00:00:27.480 align:start position:0% we have I think you have talked a lot 00:00:27.480 --> 00:00:30.019 align:start position:0% we have I think you have talked a lot about<00:00:28.010> technical<00:00:29.010> scalability<00:00:29.789> over<00:00:29.939> the 00:00:30.019 --> 00:00:30.029 align:start position:0% about technical scalability over the 00:00:30.029 --> 00:00:32.479 align:start position:0% about technical scalability over the last<00:00:30.240> two<00:00:30.779> days<00:00:30.960> and<00:00:31.320> as<00:00:31.560> well<00:00:31.949> as<00:00:32.009> two<00:00:32.130> days<00:00:32.250> on 00:00:32.479 --> 00:00:32.489 align:start position:0% last two days and as well as two days on 00:00:32.489 --> 00:00:34.880 align:start position:0% last two days and as well as two days on layer<00:00:32.640> one<00:00:32.910> and<00:00:32.940> layer<00:00:33.120> two<00:00:33.590> I'm<00:00:34.590> not<00:00:34.770> gonna 00:00:34.880 --> 00:00:34.890 align:start position:0% layer one and layer two I'm not gonna 00:00:34.890 --> 00:00:36.290 align:start position:0% layer one and layer two I'm not gonna touch<00:00:35.010> on<00:00:35.250> that<00:00:35.399> but<00:00:35.579> I'm<00:00:35.670> going<00:00:35.880> to<00:00:35.940> go<00:00:36.090> back 00:00:36.290 --> 00:00:36.300 align:start position:0% touch on that but I'm going to go back 00:00:36.300 --> 00:00:38.869 align:start position:0% touch on that but I'm going to go back in<00:00:36.540> time<00:00:36.840> to<00:00:37.170> a<00:00:37.200> nick<00:00:37.559> szabo<00:00:37.980> talk<00:00:38.610> about 00:00:38.869 --> 00:00:38.879 align:start position:0% in time to a nick szabo talk about 00:00:38.879 --> 00:00:42.139 align:start position:0% in time to a nick szabo talk about social<00:00:39.540> scalability<00:00:40.110> which<00:00:40.290> I<00:00:40.530> think<00:00:41.190> vitalik 00:00:42.139 --> 00:00:42.149 align:start position:0% social scalability which I think vitalik 00:00:42.149 --> 00:00:44.270 align:start position:0% social scalability which I think vitalik has<00:00:42.300> talked<00:00:42.510> a<00:00:42.540> little<00:00:42.690> bit<00:00:42.870> about<00:00:42.960> that<00:00:43.280> over 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position:0% overcome the mindset and it is myself who<00:00:50.670> limits<00:00:51.059> who<00:00:51.570> and<00:00:51.809> how<00:00:52.140> many<00:00:52.860> can 00:00:53.119 --> 00:00:53.129 align:start position:0% who limits who and how many can 00:00:53.129 --> 00:00:55.819 align:start position:0% who limits who and how many can successfully<00:00:53.539> participate<00:00:54.539> and<00:00:54.719> this<00:00:55.199> key<00:00:55.559> to 00:00:55.819 --> 00:00:55.829 align:start position:0% successfully participate and this key to 00:00:55.829 --> 00:00:57.970 align:start position:0% successfully participate and this key to mass<00:00:56.160> adoption<00:00:56.489> it<00:00:57.059> is<00:00:57.210> about<00:00:57.449> human 00:00:57.970 --> 00:00:57.980 align:start position:0% mass adoption it is about human 00:00:57.980 --> 00:01:00.590 align:start position:0% mass adoption it is about human limitations<00:00:58.980> not<00:00:59.579> about<00:00:59.940> technological 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every single one of them it is a process<00:01:16.950> that<00:01:17.700> you<00:01:17.850> will<00:01:18.030> see<00:01:18.240> that<00:01:18.509> possibly 00:01:19.510 --> 00:01:19.520 align:start position:0% process that you will see that possibly 00:01:19.520 --> 00:01:22.490 align:start position:0% process that you will see that possibly our<00:01:20.570> community<00:01:21.570> will<00:01:21.720> go<00:01:21.900> through<00:01:22.200> and<00:01:22.439> the 00:01:22.490 --> 00:01:22.500 align:start position:0% our community will go through and the 00:01:22.500 --> 00:01:24.020 align:start position:0% our community will go through and the first<00:01:22.710> one<00:01:22.860> is<00:01:22.979> digitalization<00:01:23.909> and 00:01:24.020 --> 00:01:24.030 align:start position:0% first one is digitalization and 00:01:24.030 --> 00:01:27.620 align:start position:0% first one is digitalization and digitalization<00:01:25.020> is<00:01:25.590> about<00:01:26.159> having<00:01:26.880> new 00:01:27.620 --> 00:01:27.630 align:start position:0% digitalization is about having new 00:01:27.630 --> 00:01:30.950 align:start position:0% digitalization is about having new business<00:01:28.140> model<00:01:28.670> using<00:01:29.670> digitize<00:01:30.630> a 00:01:30.950 --> 00:01:30.960 align:start position:0% business model using digitize a 00:01:30.960 --> 00:01:34.100 align:start position:0% business model using digitize a digitization<00:01:31.939> so<00:01:32.960> digitalization<00:01:33.960> is 00:01:34.100 --> 00:01:34.110 align:start position:0% digitization so digitalization is 00:01:34.110 --> 00:01:36.260 align:start position:0% digitization so digitalization is different<00:01:34.500> from<00:01:34.590> digitization<00:01:35.280> and<00:01:35.700> we<00:01:36.210> are 00:01:36.260 --> 00:01:36.270 align:start position:0% different from digitization and we are 00:01:36.270 --> 00:01:38.240 align:start position:0% different from digitization and we are using<00:01:36.390> digitization<00:01:37.110> to<00:01:37.560> come<00:01:37.829> up<00:01:37.920> with<00:01:38.070> new 00:01:38.240 --> 00:01:38.250 align:start position:0% using digitization to come up with new 00:01:38.250 --> 00:01:40.700 align:start position:0% using digitization to come up with new model<00:01:38.759> and<00:01:38.970> what<00:01:39.450> we<00:01:39.630> are<00:01:39.750> seeing<00:01:39.990> now<00:01:40.170> are 00:01:40.700 --> 00:01:40.710 align:start position:0% model and what we are seeing now are 00:01:40.710 --> 00:01:43.190 align:start position:0% model and what we are seeing now are some<00:01:41.159> very<00:01:41.460> interesting<00:01:41.570> development<00:01:42.570> a<00:01:42.689> lot 00:01:43.190 --> 00:01:43.200 align:start position:0% some very interesting development a lot 00:01:43.200 --> 00:01:46.460 align:start position:0% some very interesting development a lot of<00:01:43.259> people<00:01:43.649> are<00:01:43.860> trying<00:01:44.280> to<00:01:44.729> tokenize<00:01:45.450> a<00:01:45.750> legal 00:01:46.460 --> 00:01:46.470 align:start position:0% of people are trying to tokenize a legal 00:01:46.470 --> 00:01:49.670 align:start position:0% of people are trying to tokenize a legal entity<00:01:46.610> which<00:01:47.610> was<00:01:47.850> Satoshi<00:01:48.299> has<00:01:49.079> given<00:01:49.500> us<00:01:49.649> a 00:01:49.670 --> 00:01:49.680 align:start position:0% entity which was Satoshi has given us a 00:01:49.680 --> 00:01:53.810 align:start position:0% entity which was Satoshi has given us a gift<00:01:50.130> not<00:01:51.060> to<00:01:51.450> deal<00:01:52.200> with<00:01:52.259> legality<00:01:53.189> so<00:01:53.640> now 00:01:53.810 --> 00:01:53.820 align:start position:0% gift not to deal with legality so now 00:01:53.820 --> 00:01:55.039 align:start position:0% gift not to deal with legality so now we're<00:01:53.970> going<00:01:54.119> backwards<00:01:54.390> and<00:01:54.840> try<00:01:54.960> to 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position:0% costs the cost of governance a compliant cost<00:02:01.710> and<00:02:01.920> you<00:02:02.369> stop<00:02:02.729> yourself<00:02:03.360> from<00:02:03.990> going 00:02:04.219 --> 00:02:04.229 align:start position:0% cost and you stop yourself from going 00:02:04.229 --> 00:02:06.920 align:start position:0% cost and you stop yourself from going cross-border<00:02:04.890> and<00:02:05.219> those<00:02:06.000> are<00:02:06.180> the<00:02:06.360> cost<00:02:06.659> that 00:02:06.920 --> 00:02:06.930 align:start position:0% cross-border and those are the cost that 00:02:06.930 --> 00:02:10.729 align:start position:0% cross-border and those are the cost that is<00:02:07.489> embedded<00:02:08.489> in<00:02:09.170> trying<00:02:10.170> to<00:02:10.349> tokenize 00:02:10.729 --> 00:02:10.739 align:start position:0% is embedded in trying to tokenize 00:02:10.739 --> 00:02:13.130 align:start position:0% is embedded in trying to tokenize securities<00:02:11.250> and<00:02:11.430> tokens<00:02:11.879> securities<00:02:12.569> has 00:02:13.130 --> 00:02:13.140 align:start position:0% securities and tokens securities has 00:02:13.140 --> 00:02:15.830 align:start position:0% securities and tokens securities has his<00:02:13.200> own<00:02:13.440> reason<00:02:13.980> written<00:02:14.340> carry<00:02:14.700> six<00:02:14.940> and<00:02:15.210> he 00:02:15.830 --> 00:02:15.840 align:start position:0% his own reason written carry six and he 00:02:15.840 --> 00:02:17.990 align:start position:0% his own reason written carry six and he now<00:02:16.020> put<00:02:16.230> a<00:02:16.260> layer<00:02:16.560> of<00:02:16.770> token<00:02:17.580> which<00:02:17.850> is 00:02:17.990 --> 00:02:18.000 align:start position:0% now put a layer of token which is 00:02:18.000 --> 00:02:20.480 align:start position:0% now put a layer of token which is technology<00:02:18.330> on<00:02:18.690> top<00:02:18.720> your<00:02:19.620> technology<00:02:19.980> risk 00:02:20.480 --> 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same time you may only increase 00:02:27.750 --> 00:02:30.680 align:start position:0% the same time you may only increase efficiency<00:02:27.990> by<00:02:28.440> a<00:02:28.860> little<00:02:29.220> and<00:02:29.400> I'm<00:02:30.240> not<00:02:30.480> too 00:02:30.680 --> 00:02:30.690 align:start position:0% efficiency by a little and I'm not too 00:02:30.690 --> 00:02:33.770 align:start position:0% efficiency by a little and I'm not too sure<00:02:30.959> how<00:02:31.200> much<00:02:31.740> your<00:02:31.950> mass<00:02:32.160> adoption<00:02:32.550> you<00:02:33.450> can 00:02:33.770 --> 00:02:33.780 align:start position:0% sure how much your mass adoption you can 00:02:33.780 --> 00:02:35.690 align:start position:0% sure how much your mass adoption you can find<00:02:34.110> because<00:02:34.560> you're<00:02:34.980> serving<00:02:35.370> the<00:02:35.490> same 00:02:35.690 --> 00:02:35.700 align:start position:0% find because you're serving the same 00:02:35.700 --> 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so<00:02:43.950> instead<00:02:44.489> of<00:02:44.550> that<00:02:44.850> we<00:02:45.390> always<00:02:45.660> talk<00:02:46.260> about 00:02:46.280 --> 00:02:46.290 align:start position:0% so instead of that we always talk about 00:02:46.290 --> 00:02:50.000 align:start position:0% so instead of that we always talk about security<00:02:46.950> token<00:02:47.430> the<00:02:48.209> other<00:02:48.360> ideas<00:02:48.750> is<00:02:49.620> token 00:02:50.000 --> 00:02:50.010 align:start position:0% security token the other ideas is token 00:02:50.010 --> 00:02:53.960 align:start position:0% security token the other ideas is token security<00:02:50.430> we<00:02:51.330> tokenize<00:02:52.310> anything<00:02:53.310> that<00:02:53.820> is 00:02:53.960 --> 00:02:53.970 align:start position:0% security we tokenize anything that is 00:02:53.970 --> 00:02:56.780 align:start position:0% security we tokenize anything that is not<00:02:54.390> securitized<00:02:55.140> we<00:02:55.650> tokenize<00:02:56.220> anything 00:02:56.780 --> 00:02:56.790 align:start position:0% not securitized we tokenize anything 00:02:56.790 --> 00:03:00.020 align:start position:0% not securitized we tokenize anything that<00:02:56.970> is<00:02:57.120> not<00:02:57.540> in<00:02:58.320> a<00:02:58.500> legal<00:02:58.890> form<00:02:59.070> for<00:02:59.940> example 00:03:00.020 --> 00:03:00.030 align:start position:0% that is not in a legal form for example 00:03:00.030 --> 00:03:03.350 align:start position:0% that is not in a legal form for example a<00:03:00.660> cow<00:03:01.260> token<00:03:01.680> a<00:03:01.890> livestock<00:03:02.400> token<00:03:02.790> and<00:03:03.060> in 00:03:03.350 --> 00:03:03.360 align:start position:0% a cow token a livestock token and in 00:03:03.360 --> 00:03:05.600 align:start position:0% a cow token a livestock token and in that<00:03:03.510> case<00:03:03.780> you<00:03:04.440> then<00:03:04.680> have<00:03:04.950> a<00:03:04.980> new<00:03:05.310> set<00:03:05.580> of 00:03:05.600 --> 00:03:05.610 align:start position:0% that case you then have a new set of 00:03:05.610 --> 00:03:10.790 align:start position:0% that case you then have a new set of token<00:03:06.209> law<00:03:06.440> to<00:03:07.440> take<00:03:07.650> care<00:03:07.920> of<00:03:09.350> token<00:03:10.350> security 00:03:10.790 --> 00:03:10.800 align:start position:0% token law to take care of token security 00:03:10.800 --> 00:03:13.100 align:start position:0% token law to take care of token security so<00:03:11.580> we<00:03:11.940> may<00:03:12.090> want<00:03:12.330> to<00:03:12.390> move<00:03:12.570> to<00:03:12.720> a<00:03:12.780> different 00:03:13.100 --> 00:03:13.110 align:start position:0% so we may want to move to a different 00:03:13.110 --> 00:03:15.620 align:start position:0% so we may want to move to a different direction<00:03:13.260> from<00:03:13.739> security<00:03:14.250> to<00:03:14.280> token<00:03:15.180> to 00:03:15.620 --> 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align:start position:0% legislation that we have to deal with so this<00:03:24.480> is<00:03:24.630> where<00:03:24.810> our<00:03:25.970> mindset<00:03:26.970> which<00:03:27.420> is<00:03:27.570> the 00:03:28.030 --> 00:03:28.040 align:start position:0% this is where our mindset which is the 00:03:28.040 --> 00:03:30.680 align:start position:0% this is where our mindset which is the scalability<00:03:29.040> social<00:03:29.850> safety<00:03:30.000> is<00:03:30.329> to<00:03:30.450> bringing 00:03:30.680 --> 00:03:30.690 align:start position:0% scalability social safety is to bringing 00:03:30.690 --> 00:03:33.110 align:start position:0% scalability social safety is to bringing the<00:03:30.900> extruder<00:03:31.350> as<00:03:31.650> ice<00:03:32.070> back<00:03:32.370> to<00:03:32.579> the<00:03:32.670> acromion 00:03:33.110 --> 00:03:33.120 align:start position:0% the extruder as ice back to the acromion 00:03:33.120 --> 00:03:35.390 align:start position:0% the extruder as ice back to the acromion financial<00:03:33.510> system<00:03:33.900> through<00:03:34.470> digitalization 00:03:35.390 --> 00:03:35.400 align:start position:0% financial system through digitalization 00:03:35.400 --> 00:03:39.259 align:start position:0% financial system through digitalization and<00:03:35.489> this<00:03:35.760> is<00:03:35.880> what<00:03:36.180> inclusion<00:03:36.959> and<00:03:37.760> adopt<00:03:38.760> as 00:03:39.259 --> 00:03:39.269 align:start position:0% and this is what inclusion and adopt as 00:03:39.269 --> 00:03:41.960 align:start position:0% and this is what inclusion and adopt as the<00:03:39.420> mass<00:03:39.690> of<00:03:39.900> the<00:03:39.989> option<00:03:40.260> is<00:03:40.410> about<00:03:40.650> and<00:03:41.459> the 00:03:41.960 --> 00:03:41.970 align:start position:0% the mass of the option is about and the 00:03:41.970 --> 00:03:43.850 align:start position:0% the mass of the option is about and the second<00:03:42.329> and<00:03:42.480> third<00:03:42.630> is<00:03:42.870> this<00:03:43.200> intermediation 00:03:43.850 --> 00:03:43.860 align:start position:0% second and third is this intermediation 00:03:43.860 --> 00:03:46.610 align:start position:0% second and third is this intermediation and<00:03:44.310> democratization<00:03:44.880> I<00:03:45.420> gave<00:03:46.230> the<00:03:46.350> example 00:03:46.610 --> 00:03:46.620 align:start position:0% and democratization I gave the example 00:03:46.620 --> 00:03:48.080 align:start position:0% and democratization I gave the example of<00:03:46.829> the<00:03:46.890> livestock<00:03:47.400> token<00:03:47.790> you<00:03:47.940> can't 00:03:48.080 --> 00:03:48.090 align:start position:0% of the livestock token you can't 00:03:48.090 --> 00:03:49.729 align:start position:0% of the livestock token you can't organize<00:03:48.329> a<00:03:48.510> cow<00:03:48.870> which<00:03:49.110> is<00:03:49.230> not<00:03:49.470> a<00:03:49.500> legal 00:03:49.729 --> 00:03:49.739 align:start position:0% organize a cow which is not a legal 00:03:49.739 --> 00:03:54.490 align:start position:0% organize a cow which is not a legal entity<00:03:50.450> you<00:03:51.450> can<00:03:51.480> DC<00:03:51.930> me<00:03:52.130> me<00:03:53.130> you<00:03:53.400> can<00:03:53.579> this<00:03:53.700> in 00:03:54.490 --> 00:03:54.500 align:start position:0% entity you can DC me me you can this in 00:03:54.500 --> 00:03:57.350 align:start position:0% entity you can DC me me you can this in intermediate<00:03:55.500> that<00:03:56.010> rent-seeking<00:03:56.430> Landers 00:03:57.350 --> 00:03:57.360 align:start position:0% intermediate that rent-seeking Landers 00:03:57.360 --> 00:03:59.420 align:start position:0% intermediate that rent-seeking Landers to<00:03:57.480> charge<00:03:57.720> a<00:03:57.840> hundred<00:03:58.170> percent<00:03:58.290> in<00:03:58.709> Miyama 00:03:59.420 --> 00:03:59.430 align:start position:0% to charge a hundred percent in Miyama 00:03:59.430 --> 00:04:01.340 align:start position:0% to charge a hundred percent in Miyama we<00:03:59.700> have<00:03:59.790> somebody<00:04:00.000> from<00:04:00.180> Yama<00:04:00.480> who<00:04:01.110> knows 00:04:01.340 --> 00:04:01.350 align:start position:0% we have somebody from Yama who knows 00:04:01.350 --> 00:04:04.970 align:start position:0% we have somebody from Yama who knows that<00:04:01.590> and<00:04:01.860> we<00:04:02.820> can<00:04:03.000> actually<00:04:03.360> then<00:04:03.709> put<00:04:04.709> them 00:04:04.970 --> 00:04:04.980 align:start position:0% that and we can actually then put them 00:04:04.980 --> 00:04:08.690 align:start position:0% that and we can actually then put them onto<00:04:05.480> a<00:04:06.890> Insurance<00:04:07.890> Scheme<00:04:07.980> micro<00:04:08.519> insurance 00:04:08.690 --> 00:04:08.700 align:start position:0% onto a Insurance Scheme micro insurance 00:04:08.700 --> 00:04:10.490 align:start position:0% onto a Insurance Scheme micro insurance scheme<00:04:09.120> because<00:04:09.450> now<00:04:09.630> we<00:04:09.690> have<00:04:09.930> a<00:04:09.959> token<00:04:10.260> you 00:04:10.490 --> 00:04:10.500 align:start position:0% scheme because now we have a token you 00:04:10.500 --> 00:04:13.039 align:start position:0% scheme because now we have a token you know<00:04:10.620> the<00:04:10.769> GPS<00:04:11.130> position<00:04:11.400> you<00:04:12.390> now<00:04:12.630> have<00:04:12.840> it<00:04:12.959> on 00:04:13.039 --> 00:04:13.049 align:start position:0% know the GPS position you now have it on 00:04:13.049 --> 00:04:14.990 align:start position:0% know the GPS position you now have it on blockchain<00:04:13.350> you<00:04:13.709> have<00:04:13.799> identity<00:04:14.430> of<00:04:14.820> the 00:04:14.990 --> 00:04:15.000 align:start position:0% blockchain you have identity of the 00:04:15.000 --> 00:04:18.140 align:start position:0% blockchain you have identity of the farmers<00:04:15.450> the<00:04:16.380> insurance<00:04:16.799> company<00:04:17.130> they<00:04:18.000> are 00:04:18.140 --> 00:04:18.150 align:start position:0% farmers the insurance company they are 00:04:18.150 --> 00:04:20.120 align:start position:0% farmers the insurance company they are willing<00:04:18.419> to<00:04:18.780> insure<00:04:19.109> and<00:04:19.289> once<00:04:19.560> the<00:04:19.769> incidents 00:04:20.120 --> 00:04:20.130 align:start position:0% willing to insure and once the incidents 00:04:20.130 --> 00:04:21.740 align:start position:0% willing to insure and once the incidents that<00:04:20.160> were<00:04:20.340> willing<00:04:20.549> to<00:04:20.700> insure<00:04:21.120> you<00:04:21.479> lower 00:04:21.740 --> 00:04:21.750 align:start position:0% that were willing to insure you lower 00:04:21.750 --> 00:04:24.980 align:start position:0% that were willing to insure you lower the<00:04:22.019> risk<00:04:22.289> of<00:04:22.410> that<00:04:23.099> product<00:04:23.430> and<00:04:23.669> the<00:04:24.510> risk<00:04:24.720> is 00:04:24.980 --> 00:04:24.990 align:start position:0% the risk of that product and the risk is 00:04:24.990 --> 00:04:26.930 align:start position:0% the risk of that product and the risk is lower<00:04:25.380> you<00:04:26.039> will<00:04:26.160> be<00:04:26.280> able<00:04:26.460> to<00:04:26.700> get 00:04:26.930 --> 00:04:26.940 align:start position:0% lower you will be able to get 00:04:26.940 --> 00:04:29.090 align:start position:0% lower you will be able to get microlending<00:04:27.690> to<00:04:27.900> learn<00:04:28.110> and<00:04:28.410> single<00:04:28.770> digit 00:04:29.090 --> 00:04:29.100 align:start position:0% microlending to learn and single digit 00:04:29.100 --> 00:04:31.910 align:start position:0% microlending to learn and single digit or<00:04:29.310> double<00:04:30.120> digit<00:04:30.390> and<00:04:30.570> we<00:04:30.690> had<00:04:30.840> reduced<00:04:30.990> the 00:04:31.910 --> 00:04:31.920 align:start position:0% or double digit and we had reduced the 00:04:31.920 --> 00:04:34.130 align:start position:0% or double digit and we had reduced the landing<00:04:32.850> rate<00:04:33.000> from<00:04:33.150> a<00:04:33.270> hundred<00:04:33.570> percent<00:04:33.930> to 00:04:34.130 --> 00:04:34.140 align:start position:0% landing rate from a hundred percent to 00:04:34.140 --> 00:04:36.170 align:start position:0% landing rate from a hundred percent to sing<00:04:34.380> a<00:04:34.470> digit<00:04:34.770> or<00:04:34.860> double<00:04:35.160> digit<00:04:35.430> and<00:04:35.580> that<00:04:36.090> is 00:04:36.170 --> 00:04:36.180 align:start position:0% sing a digit or double digit and that is 00:04:36.180 --> 00:04:40.250 align:start position:0% sing a digit or double digit and that is the<00:04:36.270> beauty<00:04:36.630> of<00:04:36.660> tokens<00:04:37.140> security<00:04:38.330> and<00:04:39.330> my<00:04:39.990> set 00:04:40.250 --> 00:04:40.260 align:start position:0% the beauty of tokens security and my set 00:04:40.260 --> 00:04:42.590 align:start position:0% the beauty of tokens security and my set is<00:04:40.410> to<00:04:40.590> balance<00:04:40.800> the<00:04:41.220> profit<00:04:41.730> and<00:04:41.880> social 00:04:42.590 --> 00:04:42.600 align:start position:0% is to balance the profit and social 00:04:42.600 --> 00:04:44.510 align:start position:0% is to balance the profit and social objectives<00:04:42.660> so<00:04:43.440> there<00:04:43.650> is<00:04:43.800> not<00:04:43.950> a<00:04:44.010> mindset 00:04:44.510 --> 00:04:44.520 align:start position:0% objectives so there is not a mindset 00:04:44.520 --> 00:04:46.660 align:start position:0% objectives so there is not a mindset that<00:04:44.670> we<00:04:44.790> must<00:04:45.030> have<00:04:45.360> in<00:04:45.900> mass<00:04:46.230> adoption 00:04:46.660 --> 00:04:46.670 align:start position:0% that we must have in mass adoption 00:04:46.670 --> 00:04:49.070 align:start position:0% that we must have in mass adoption because<00:04:47.670> charity<00:04:48.270> is<00:04:48.420> not<00:04:48.600> going<00:04:48.750> to<00:04:48.810> have<00:04:48.930> us 00:04:49.070 --> 00:04:49.080 align:start position:0% because charity is not going to have us 00:04:49.080 --> 00:04:51.560 align:start position:0% because charity is not going to have us to<00:04:49.230> do<00:04:49.350> mass<00:04:49.530> adoption<00:04:49.860> at<00:04:50.280> all<00:04:50.670> you<00:04:51.030> have<00:04:51.360> to 00:04:51.560 --> 00:04:51.570 align:start position:0% to do mass adoption at all you have to 00:04:51.570 --> 00:04:54.110 align:start position:0% to do mass adoption at all you have to combine<00:04:51.960> both<00:04:52.410> profit<00:04:52.890> motives<00:04:53.280> as<00:04:53.490> well<00:04:53.940> as 00:04:54.110 --> 00:04:54.120 align:start position:0% combine both profit motives as well as 00:04:54.120 --> 00:04:56.210 align:start position:0% combine both profit motives as well as social<00:04:54.480> objectives<00:04:55.200> for<00:04:55.320> sustainability<00:04:55.770> and 00:04:56.210 --> 00:04:56.220 align:start position:0% social objectives for sustainability and 00:04:56.220 --> 00:04:58.970 align:start position:0% social objectives for sustainability and the<00:04:56.460> 40<00:04:56.880> is<00:04:57.090> decentralization<00:04:57.980> FinTech 00:04:58.970 --> 00:04:58.980 align:start position:0% the 40 is decentralization FinTech 00:04:58.980 --> 00:05:00.890 align:start position:0% the 40 is decentralization FinTech companies<00:04:59.040> are<00:04:59.670> good<00:05:00.060> for<00:05:00.240> inclusion<00:05:00.720> we<00:05:00.810> have 00:05:00.890 --> 00:05:00.900 align:start position:0% companies are good for inclusion we have 00:05:00.900 --> 00:05:02.780 align:start position:0% companies are good for inclusion we have seen<00:05:01.110> that<00:05:01.200> in<00:05:01.320> a<00:05:01.440> leap<00:05:01.620> a<00:05:01.800> we<00:05:02.370> have<00:05:02.520> seen<00:05:02.670> that 00:05:02.780 --> 00:05:02.790 align:start position:0% seen that in a leap a we have seen that 00:05:02.790 --> 00:05:07.220 align:start position:0% seen that in a leap a we have seen that in<00:05:02.940> Kenya<00:05:04.910> m-pesa<00:05:05.910> and<00:05:06.270> so<00:05:06.420> on<00:05:06.540> but<00:05:06.960> they<00:05:07.140> are 00:05:07.220 --> 00:05:07.230 align:start position:0% in Kenya m-pesa and so on but they are 00:05:07.230 --> 00:05:09.920 align:start position:0% in Kenya m-pesa and so on but they are still<00:05:07.470> centralized<00:05:08.150> ok<00:05:09.150> there<00:05:09.360> is<00:05:09.510> a<00:05:09.540> major 00:05:09.920 --> 00:05:09.930 align:start position:0% still centralized ok there is a major 00:05:09.930 --> 00:05:12.500 align:start position:0% still centralized ok there is a major problem<00:05:10.170> of<00:05:10.800> doing<00:05:11.340> financial<00:05:11.790> inclusion<00:05:12.090> to 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align:start position:0% the country the control and higher payment<00:05:20.430> system<00:05:20.790> so<00:05:21.390> that<00:05:21.570> is<00:05:21.690> the<00:05:21.840> danger<00:05:22.260> or 00:05:22.400 --> 00:05:22.410 align:start position:0% payment system so that is the danger or 00:05:22.410 --> 00:05:24.500 align:start position:0% payment system so that is the danger or centralized<00:05:22.860> system<00:05:23.250> and<00:05:23.520> what<00:05:24.360> is 00:05:24.500 --> 00:05:24.510 align:start position:0% centralized system and what is 00:05:24.510 --> 00:05:26.870 align:start position:0% centralized system and what is decentralization<00:05:25.460> decentralization<00:05:26.460> is 00:05:26.870 --> 00:05:26.880 align:start position:0% decentralization decentralization is 00:05:26.880 --> 00:05:30.170 align:start position:0% decentralization decentralization is actually<00:05:27.510> to<00:05:27.960> me<00:05:28.080> a<00:05:28.380> dynamic<00:05:29.370> and<00:05:29.580> continuous 00:05:30.170 --> 00:05:30.180 align:start position:0% actually to me a dynamic and continuous 00:05:30.180 --> 00:05:32.659 align:start position:0% actually to me a dynamic and continuous process<00:05:30.660> of<00:05:30.919> distribution<00:05:31.919> of<00:05:32.070> trust<00:05:32.340> and 00:05:32.659 --> 00:05:32.669 align:start position:0% process of distribution of trust and 00:05:32.669 --> 00:05:35.480 align:start position:0% process of distribution of trust and that<00:05:32.760> is<00:05:33.630> key<00:05:33.990> to<00:05:34.290> a<00:05:34.320> lot<00:05:34.680> of<00:05:34.830> design<00:05:35.130> thinking 00:05:35.480 --> 00:05:35.490 align:start position:0% that is key to a lot of design thinking 00:05:35.490 --> 00:05:37.520 align:start position:0% that is key to a lot of design thinking that<00:05:35.669> you<00:05:35.760> might<00:05:35.880> must<00:05:36.270> have<00:05:36.510> and<00:05:36.750> what<00:05:37.290> I<00:05:37.320> have 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doing<00:05:52.890> the<00:05:53.100> mining<00:05:53.430> so<00:05:53.880> that<00:05:54.150> is<00:05:54.270> a 00:05:54.290 --> 00:05:54.300 align:start position:0% of us doing the mining so that is a 00:05:54.300 --> 00:05:56.420 align:start position:0% of us doing the mining so that is a thought<00:05:55.020> that<00:05:55.080> we<00:05:55.350> must<00:05:55.590> have<00:05:55.770> in<00:05:55.890> the<00:05:55.980> back<00:05:56.160> of 00:05:56.420 --> 00:05:56.430 align:start position:0% thought that we must have in the back of 00:05:56.430 --> 00:05:58.310 align:start position:0% thought that we must have in the back of a<00:05:56.700> mind<00:05:56.970> and<00:05:57.300> we<00:05:57.450> always<00:05:57.690> must<00:05:57.840> remember<00:05:58.140> that 00:05:58.310 --> 00:05:58.320 align:start position:0% a mind and we always must remember that 00:05:58.320 --> 00:06:00.290 align:start position:0% a mind and we always must remember that all<00:05:58.500> chain<00:05:58.890> governance<00:05:59.430> are<00:05:59.580> mostly 00:06:00.290 --> 00:06:00.300 align:start position:0% all chain governance are mostly 00:06:00.300 --> 00:06:02.210 align:start position:0% all chain governance are mostly centralized<00:06:01.290> so<00:06:01.710> there<00:06:01.890> must<00:06:02.010> be<00:06:02.160> a 00:06:02.210 --> 00:06:02.220 align:start position:0% centralized so there must be a 00:06:02.220 --> 00:06:04.940 align:start position:0% centralized so there must be a distinction<00:06:02.669> between<00:06:03.030> on<00:06:03.419> chain<00:06:04.230> and<00:06:04.500> off 00:06:04.940 --> 00:06:04.950 align:start position:0% distinction between on chain and off 00:06:04.950 --> 00:06:07.159 align:start position:0% distinction between on chain and off chain<00:06:05.280> governance<00:06:05.790> and<00:06:06.480> we<00:06:06.600> don't<00:06:06.810> mix<00:06:07.020> them 00:06:07.159 --> 00:06:07.169 align:start position:0% chain governance and we don't mix them 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centralized<00:06:15.450> and<00:06:15.660> we 00:06:15.890 --> 00:06:15.900 align:start position:0% chain governance is centralized and we 00:06:15.900 --> 00:06:18.710 align:start position:0% chain governance is centralized and we can<00:06:16.050> do<00:06:16.230> better<00:06:16.470> off<00:06:16.860> chain<00:06:17.700> and<00:06:17.940> on<00:06:18.090> chain<00:06:18.360> to 00:06:18.710 --> 00:06:18.720 align:start position:0% can do better off chain and on chain to 00:06:18.720 --> 00:06:21.950 align:start position:0% can do better off chain and on chain to distribute<00:06:19.140> trust<00:06:19.700> ok<00:06:20.700> and<00:06:20.940> especially<00:06:21.660> on 00:06:21.950 --> 00:06:21.960 align:start position:0% distribute trust ok and especially on 00:06:21.960 --> 00:06:23.420 align:start position:0% distribute trust ok and especially on the<00:06:22.050> child<00:06:22.290> chains<00:06:22.590> as<00:06:22.770> well<00:06:22.800> where<00:06:23.070> we<00:06:23.100> start 00:06:23.420 --> 00:06:23.430 align:start position:0% the child chains as well where we start 00:06:23.430 --> 00:06:26.030 align:start position:0% the child chains as well where we start so<00:06:24.090> it<00:06:24.360> is<00:06:24.510> important<00:06:25.110> where<00:06:25.650> we<00:06:25.800> have 00:06:26.030 --> 00:06:26.040 align:start position:0% so it is important where we have 00:06:26.040 --> 00:06:27.530 align:start position:0% so it is important where we have inclusive<00:06:26.460> blockchain<00:06:27.060> with<00:06:27.240> open 00:06:27.530 --> 00:06:27.540 align:start position:0% inclusive blockchain with open 00:06:27.540 --> 00:06:29.630 align:start position:0% inclusive blockchain with open blockchain<00:06:27.930> private<00:06:28.500> blockchain<00:06:28.860> consortium 00:06:29.630 --> 00:06:29.640 align:start position:0% blockchain private blockchain consortium 00:06:29.640 --> 00:06:32.480 align:start position:0% blockchain private blockchain consortium blockchain<00:06:30.030> secondly<00:06:30.750> that<00:06:31.560> layer<00:06:31.770> child 00:06:32.480 --> 00:06:32.490 align:start position:0% blockchain secondly that layer child 00:06:32.490 --> 00:06:34.310 align:start position:0% blockchain secondly that layer child chains<00:06:32.760> that<00:06:33.000> we<00:06:33.300> start<00:06:33.660> with<00:06:33.840> centralized 00:06:34.310 --> 00:06:34.320 align:start position:0% chains that we start with centralized 00:06:34.320 --> 00:06:36.740 align:start position:0% chains that we start with centralized governance<00:06:35.250> but<00:06:35.580> we<00:06:35.729> need<00:06:36.000> to<00:06:36.210> controversy 00:06:36.740 --> 00:06:36.750 align:start position:0% governance but we need to controversy 00:06:36.750 --> 00:06:38.840 align:start position:0% governance but we need to controversy decent<00:06:37.140> rice<00:06:37.350> trusts<00:06:37.770> and<00:06:37.890> my<00:06:38.460> set<00:06:38.700> is<00:06:38.820> a 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oneself<00:06:45.860> and<00:06:45.980> that<00:06:46.280> is<00:06:46.460> the<00:06:46.640> best<00:06:46.880> egg<00:06:47.150> or 00:06:47.560 --> 00:06:47.570 align:start position:0% oneself and that is the best egg or 00:06:47.570 --> 00:06:51.100 align:start position:0% oneself and that is the best egg or satoshi<00:06:48.020> nakamoto<00:06:48.490> he<00:06:49.490> disappeared 00:06:51.100 --> 00:06:51.110 align:start position:0% satoshi nakamoto he disappeared 00:06:51.110 --> 00:06:53.650 align:start position:0% satoshi nakamoto he disappeared besides<00:06:51.830> being<00:06:52.070> diminishing<00:06:52.910> himself<00:06:53.330> he 00:06:53.650 --> 00:06:53.660 align:start position:0% besides being diminishing himself he 00:06:53.660 --> 00:06:55.570 align:start position:0% besides being diminishing himself he disappeared<00:06:54.260> and<00:06:54.350> there's<00:06:54.770> no<00:06:54.980> single<00:06:55.250> point 00:06:55.570 --> 00:06:55.580 align:start position:0% disappeared and there's no single point 00:06:55.580 --> 00:06:57.550 align:start position:0% disappeared and there's no single point of<00:06:55.790> attack<00:06:56.120> there's<00:06:56.750> no<00:06:56.960> single<00:06:57.260> point<00:06:57.470> of 00:06:57.550 --> 00:06:57.560 align:start position:0% of attack there's no single point of 00:06:57.560 --> 00:07:00.370 align:start position:0% of attack there's no single point of failure<00:06:57.800> and<00:06:58.510> this<00:06:59.510> is<00:06:59.660> the<00:06:59.780> hardest<00:07:00.200> and<00:07:00.290> the 00:07:00.370 --> 00:07:00.380 align:start position:0% failure and this is the hardest and the 00:07:00.380 --> 00:07:03.160 align:start position:0% failure and this is the hardest and the most<00:07:00.440> essential<00:07:00.880> okay<00:07:01.880> we<00:07:02.420> can<00:07:02.540> look<00:07:02.720> at<00:07:02.870> a<00:07:02.900> lot 00:07:03.160 --> 00:07:03.170 align:start position:0% most essential okay we can look at a lot 00:07:03.170 --> 00:07:06.370 align:start position:0% most essential okay we can look at a lot of<00:07:03.230> copy<00:07:03.580> corporate<00:07:04.580> Fiat<00:07:04.910> stable<00:07:05.570> coin<00:07:05.780> which 00:07:06.370 --> 00:07:06.380 align:start position:0% of copy corporate Fiat stable coin which 00:07:06.380 --> 00:07:09.030 align:start position:0% of copy corporate Fiat stable coin which is<00:07:06.410> doing<00:07:06.770> the<00:07:06.920> reverse<00:07:07.420> instead<00:07:08.420> of<00:07:08.660> this 00:07:09.030 --> 00:07:09.040 align:start position:0% is doing the reverse instead of this 00:07:09.040 --> 00:07:11.220 align:start position:0% is doing the reverse instead of this intermediating<00:07:10.040> we<00:07:10.430> are<00:07:10.520> this 00:07:11.220 --> 00:07:11.230 align:start position:0% intermediating we are this 00:07:11.230 --> 00:07:13.690 align:start position:0% intermediating we are this disintermediating<00:07:12.280> so<00:07:13.280> we<00:07:13.400> are<00:07:13.550> adding 00:07:13.690 --> 00:07:13.700 align:start position:0% disintermediating so we are adding 00:07:13.700 --> 00:07:16.450 align:start position:0% disintermediating so we are adding another<00:07:14.210> layer<00:07:14.540> of<00:07:14.930> intermediary<00:07:15.800> in<00:07:16.220> the 00:07:16.450 --> 00:07:16.460 align:start position:0% another layer of intermediary in the 00:07:16.460 --> 00:07:19.360 align:start position:0% another layer of intermediary in the design<00:07:16.910> thinking<00:07:17.300> of<00:07:17.900> the<00:07:18.740> coin<00:07:19.010> that<00:07:19.190> we<00:07:19.340> have 00:07:19.360 --> 00:07:19.370 align:start position:0% design thinking of the coin that we have 00:07:19.370 --> 00:07:21.040 align:start position:0% design thinking of the coin that we have when<00:07:20.150> we<00:07:20.240> try<00:07:20.420> to<00:07:20.450> put<00:07:20.690> something<00:07:20.840> in<00:07:21.020> between 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yourself and that is the mindset that we need<00:07:35.150> to<00:07:35.330> have<00:07:35.540> which<00:07:35.810> is<00:07:35.990> we<00:07:36.350> are<00:07:36.440> just 00:07:36.930 --> 00:07:36.940 align:start position:0% need to have which is we are just 00:07:36.940 --> 00:07:38.890 align:start position:0% need to have which is we are just facilitators<00:07:37.940> we<00:07:38.450> are<00:07:38.510> all<00:07:38.660> just 00:07:38.890 --> 00:07:38.900 align:start position:0% facilitators we are all just 00:07:38.900 --> 00:07:40.870 align:start position:0% facilitators we are all just facilitators<00:07:39.620> we<00:07:39.950> are<00:07:40.070> all<00:07:40.460> here<00:07:40.730> just 00:07:40.870 --> 00:07:40.880 align:start position:0% facilitators we are all here just 00:07:40.880 --> 00:07:43.510 align:start position:0% facilitators we are all here just facilities<00:07:41.690> and<00:07:42.050> our<00:07:42.260> task<00:07:42.590> is<00:07:42.770> to<00:07:42.800> minimize<00:07:43.280> a 00:07:43.510 --> 00:07:43.520 align:start position:0% facilities and our task is to minimize a 00:07:43.520 --> 00:07:45.880 align:start position:0% facilities and our task is to minimize a single<00:07:44.030> point<00:07:44.270> of<00:07:44.450> attack<00:07:45.170> and<00:07:45.350> failure<00:07:45.710> and 00:07:45.880 --> 00:07:45.890 align:start position:0% single point of attack and failure and 00:07:45.890 --> 00:07:48.400 align:start position:0% single point of attack and failure and there's<00:07:46.310> our<00:07:46.550> mission<00:07:47.120> that's<00:07:47.990> why<00:07:48.140> we<00:07:48.290> are 00:07:48.400 --> 00:07:48.410 align:start position:0% there's our mission that's why we are 00:07:48.410 --> 00:07:51.760 align:start position:0% there's our mission that's why we are here<00:07:48.680> in<00:07:48.800> Prague<00:07:49.070> okay<00:07:50.000> and<00:07:50.360> the<00:07:51.290> signs<00:07:51.560> are 00:07:51.760 --> 00:07:51.770 align:start position:0% here in Prague okay and the signs are 00:07:51.770 --> 00:07:55.000 align:start position:0% here in Prague okay and the signs are not<00:07:51.920> good<00:07:52.220> for<00:07:52.370> the<00:07:52.460> community<00:07:53.560> for<00:07:54.560> over<00:07:54.590> the 00:07:55.000 --> 00:07:55.010 align:start position:0% not good for the community for over the 00:07:55.010 --> 00:07:56.680 align:start position:0% not good for the community for over the year<00:07:55.220> we<00:07:55.370> can<00:07:55.550> see<00:07:55.730> there's<00:07:55.910> still<00:07:56.270> a<00:07:56.450> lot<00:07:56.660> of 00:07:56.680 --> 00:07:56.690 align:start position:0% year we can see there's still a lot of 00:07:56.690 --> 00:07:58.690 align:start position:0% year we can see there's still a lot of concentration<00:07:56.960> mining<00:07:57.740> yes<00:07:58.280> there's<00:07:58.520> AZ 00:07:58.690 --> 00:07:58.700 align:start position:0% concentration mining yes there's AZ 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education<00:08:05.960> we<00:08:06.380> are 00:08:06.520 --> 00:08:06.530 align:start position:0% still need a lot more education we are 00:08:06.530 --> 00:08:09.190 align:start position:0% still need a lot more education we are continue<00:08:07.490> to<00:08:07.610> expose<00:08:08.060> ourselves<00:08:08.360> to<00:08:08.750> the<00:08:08.990> body 00:08:09.190 --> 00:08:09.200 align:start position:0% continue to expose ourselves to the body 00:08:09.200 --> 00:08:12.400 align:start position:0% continue to expose ourselves to the body trust<00:08:09.560> in<00:08:10.220> both<00:08:10.640> soft<00:08:11.510> and<00:08:11.630> hard<00:08:11.750> where<00:08:12.260> they 00:08:12.400 --> 00:08:12.410 align:start position:0% trust in both soft and hard where they 00:08:12.410 --> 00:08:14.110 align:start position:0% trust in both soft and hard where they we<00:08:12.500> are<00:08:12.590> talking<00:08:12.920> about<00:08:13.010> in<00:08:13.640> the<00:08:13.730> last<00:08:13.880> few 00:08:14.110 --> 00:08:14.120 align:start position:0% we are talking about in the last few 00:08:14.120 --> 00:08:17.800 align:start position:0% we are talking about in the last few days<00:08:14.590> so<00:08:15.590> we<00:08:15.970> have<00:08:16.970> security<00:08:17.300> talk<00:08:17.570> over<00:08:17.780> a 00:08:17.800 --> 00:08:17.810 align:start position:0% days so we have security talk over a 00:08:17.810 --> 00:08:19.720 align:start position:0% days so we have security talk over a scam<00:08:18.110> I<00:08:18.140> see<00:08:18.290> oh<00:08:18.500> we<00:08:18.800> have<00:08:18.890> feared<00:08:19.190> stable<00:08:19.580> coin 00:08:19.720 --> 00:08:19.730 align:start position:0% scam I see oh we have feared stable coin 00:08:19.730 --> 00:08:22.150 align:start position:0% scam I see oh we have feared stable coin which<00:08:19.910> actually<00:08:20.210> distracted<00:08:20.900> us<00:08:21.110> from<00:08:21.160> what 00:08:22.150 --> 00:08:22.160 align:start position:0% which actually distracted us from what 00:08:22.160 --> 00:08:25.540 align:start position:0% which actually distracted us from what we<00:08:22.310> try<00:08:22.580> to<00:08:22.610> do<00:08:22.970> from<00:08:23.600> 10<00:08:23.930> years<00:08:24.170> ago<00:08:24.350> which<00:08:25.280> is 00:08:25.540 --> 00:08:25.550 align:start position:0% we try to do from 10 years ago which is 00:08:25.550 --> 00:08:27.880 align:start position:0% we try to do from 10 years ago which is to<00:08:25.730> dispute<00:08:26.210> trust<00:08:26.540> and<00:08:26.780> lower<00:08:27.260> the<00:08:27.500> cost<00:08:27.770> of 00:08:27.880 --> 00:08:27.890 align:start position:0% to dispute trust and lower the cost of 00:08:27.890 --> 00:08:28.420 align:start position:0% to dispute trust and lower the cost of trust 00:08:28.420 --> 00:08:28.430 align:start position:0% trust 00:08:28.430 --> 00:08:30.220 align:start position:0% trust so<00:08:28.730> there<00:08:28.970> are<00:08:29.000> dependence<00:08:29.630> on<00:08:29.750> third<00:08:29.960> party 00:08:30.220 --> 00:08:30.230 align:start position:0% so there are dependence on third party 00:08:30.230 --> 00:08:32.530 align:start position:0% so there are dependence on third party trust<00:08:30.500> is<00:08:30.740> that<00:08:31.010> the<00:08:31.100> lowest<00:08:31.310> so<00:08:32.180> we<00:08:32.300> have<00:08:32.419> the 00:08:32.530 --> 00:08:32.540 align:start position:0% trust is that the lowest so we have the 00:08:32.540 --> 00:08:33.790 align:start position:0% trust is that the lowest so we have the first<00:08:32.690> layer<00:08:32.900> versus<00:08:33.229> the<00:08:33.320> second<00:08:33.650> layer 00:08:33.790 --> 00:08:33.800 align:start position:0% first layer versus the second layer 00:08:33.800 --> 00:08:36.850 align:start position:0% first layer versus the second layer where<00:08:34.160> it's<00:08:34.669> difficult<00:08:35.180> to<00:08:35.300> get<00:08:35.620> consensus<00:08:36.620> in 00:08:36.850 --> 00:08:36.860 align:start position:0% where it's difficult to get consensus in 00:08:36.860 --> 00:08:39.610 align:start position:0% where it's difficult to get consensus in the<00:08:36.919> governance<00:08:37.370> of<00:08:37.490> chain<00:08:38.090> but<00:08:38.870> it's<00:08:39.380> better 00:08:39.610 --> 00:08:39.620 align:start position:0% the governance of chain but it's better 00:08:39.620 --> 00:08:42.580 align:start position:0% the governance of chain but it's better to<00:08:39.979> have<00:08:40.220> changes<00:08:41.150> and<00:08:41.419> innovation<00:08:42.110> on<00:08:42.320> the 00:08:42.580 --> 00:08:42.590 align:start position:0% to have changes and innovation on the 00:08:42.590 --> 00:08:44.590 align:start position:0% to have changes and innovation on the second<00:08:42.919> layer<00:08:43.060> because<00:08:44.060> it's<00:08:44.240> a<00:08:44.330> little<00:08:44.480> bit 00:08:44.590 --> 00:08:44.600 align:start position:0% second layer because it's a little bit 00:08:44.600 --> 00:08:46.420 align:start position:0% second layer because it's a little bit more<00:08:44.720> centralized<00:08:45.290> whether<00:08:45.830> those<00:08:46.100> are<00:08:46.340> the 00:08:46.420 --> 00:08:46.430 align:start position:0% more centralized whether those are the 00:08:46.430 --> 00:08:48.910 align:start position:0% more centralized whether those are the good<00:08:46.610> development<00:08:47.380> we'll<00:08:48.380> leave<00:08:48.620> it<00:08:48.770> to 00:08:48.910 --> 00:08:48.920 align:start position:0% good development we'll leave it to 00:08:48.920 --> 00:08:51.160 align:start position:0% good development we'll leave it to everybody<00:08:49.100> to<00:08:49.400> decide<00:08:49.820> but<00:08:50.300> we<00:08:50.540> need<00:08:50.870> more 00:08:51.160 --> 00:08:51.170 align:start position:0% everybody to decide but we need more 00:08:51.170 --> 00:08:53.480 align:start position:0% everybody to decide but we need more than<00:08:51.230> technical<00:08:51.740> and<00:08:52.040> social<00:08:52.250> scalability 00:08:53.480 --> 00:08:53.490 align:start position:0% than technical and social scalability 00:08:53.490 --> 00:08:55.579 align:start position:0% than technical and social scalability for<00:08:53.700> mass<00:08:53.910> adoption<00:08:54.240> and<00:08:54.720> the<00:08:55.230> focus<00:08:55.560> and 00:08:55.579 --> 00:08:55.589 align:start position:0% for mass adoption and the focus and 00:08:55.589 --> 00:08:58.880 align:start position:0% for mass adoption and the focus and switch<00:08:55.980> in<00:08:56.279> this<00:08:56.550> few<00:08:57.480> days<00:08:57.510> and<00:08:58.410> what<00:08:58.649> we<00:08:58.770> have 00:08:58.880 --> 00:08:58.890 align:start position:0% switch in this few days and what we have 00:08:58.890 --> 00:09:01.220 align:start position:0% switch in this few days and what we have seen<00:08:59.130> in<00:08:59.640> the<00:08:59.820> dispute<00:09:00.270> days<00:09:00.420> is<00:09:00.720> a<00:09:00.750> lot<00:09:01.080> of 00:09:01.220 --> 00:09:01.230 align:start position:0% seen in the dispute days is a lot of 00:09:01.230 --> 00:09:03.380 align:start position:0% seen in the dispute days is a lot of talk<00:09:01.380> about<00:09:01.529> your<00:09:01.830> knowledge<00:09:02.040> prove<00:09:03.029> a<00:09:03.209> lot 00:09:03.380 --> 00:09:03.390 align:start position:0% talk about your knowledge prove a lot 00:09:03.390 --> 00:09:05.750 align:start position:0% talk about your knowledge prove a lot about<00:09:03.630> secure<00:09:03.990> multi-party<00:09:04.290> computing<00:09:05.130> a<00:09:05.339> lot 00:09:05.750 --> 00:09:05.760 align:start position:0% about secure multi-party computing a lot 00:09:05.760 --> 00:09:06.920 align:start position:0% about secure multi-party computing a lot more<00:09:05.970> about<00:09:06.089> full<00:09:06.330> homomorphic<00:09:06.779> encryption 00:09:06.920 --> 00:09:06.930 align:start position:0% more about full homomorphic encryption 00:09:06.930 --> 00:09:09.620 align:start position:0% more about full homomorphic encryption and<00:09:07.640> very<00:09:08.640> little<00:09:08.790> about<00:09:09.000> secret<00:09:09.390> sharing 00:09:09.620 --> 00:09:09.630 align:start position:0% and very little about secret sharing 00:09:09.630 --> 00:09:12.920 align:start position:0% and very little about secret sharing okay<00:09:10.620> but<00:09:10.860> data<00:09:11.640> and<00:09:11.880> smart<00:09:12.089> contract<00:09:12.480> privacy 00:09:12.920 --> 00:09:12.930 align:start position:0% okay but data and smart contract privacy 00:09:12.930 --> 00:09:16.310 align:start position:0% okay but data and smart contract privacy pen<00:09:13.770> testing<00:09:14.220> code<00:09:14.580> or<00:09:14.790> date<00:09:15.000> and<00:09:15.390> we<00:09:16.020> are 00:09:16.310 --> 00:09:16.320 align:start position:0% pen testing code or date and we are 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again we need to think about<00:09:24.810> distribution<00:09:25.500> or<00:09:25.620> trust<00:09:25.950> because 00:09:26.840 --> 00:09:26.850 align:start position:0% about distribution or trust because 00:09:26.850 --> 00:09:28.880 align:start position:0% about distribution or trust because third-party<00:09:27.390> trust<00:09:27.750> is<00:09:28.110> something<00:09:28.380> that<00:09:28.800> we 00:09:28.880 --> 00:09:28.890 align:start position:0% third-party trust is something that we 00:09:28.890 --> 00:09:31.190 align:start position:0% third-party trust is something that we have<00:09:29.010> set<00:09:29.279> out<00:09:29.459> to<00:09:30.060> ensure<00:09:30.209> there<00:09:30.600> is<00:09:30.630> minimize 00:09:31.190 --> 00:09:31.200 align:start position:0% have set out to ensure there is minimize 00:09:31.200 --> 00:09:33.650 align:start position:0% have set out to ensure there is minimize so<00:09:31.770> when<00:09:31.950> we<00:09:32.070> look<00:09:32.279> at<00:09:32.399> all<00:09:32.610> these 00:09:33.650 --> 00:09:33.660 align:start position:0% so when we look at all these 00:09:33.660 --> 00:09:36.579 align:start position:0% so when we look at all these well<00:09:34.440> trusted<00:09:34.950> as<00:09:35.160> if<00:09:35.339> it<00:09:35.459> environment<00:09:36.209> and 00:09:36.579 --> 00:09:36.589 align:start position:0% well trusted as if it environment and 00:09:36.589 --> 00:09:39.500 align:start position:0% well trusted as if it environment and SGX<00:09:37.589> and<00:09:37.770> more<00:09:38.040> that<00:09:38.550> we<00:09:38.640> have<00:09:38.940> we<00:09:39.180> have<00:09:39.360> to 00:09:39.500 --> 00:09:39.510 align:start position:0% SGX and more that we have we have to 00:09:39.510 --> 00:09:42.050 align:start position:0% SGX and more that we have we have to bear<00:09:39.779> in<00:09:40.560> mind<00:09:40.620> the<00:09:41.070> design<00:09:41.399> thinking<00:09:41.610> of 00:09:42.050 --> 00:09:42.060 align:start position:0% bear in mind the design thinking of 00:09:42.060 --> 00:09:43.970 align:start position:0% bear in mind the design thinking of distribution<00:09:42.660> of<00:09:42.750> trust<00:09:43.050> for<00:09:43.470> mass<00:09:43.649> adoption 00:09:43.970 --> 00:09:43.980 align:start position:0% distribution of trust for mass adoption 00:09:43.980 --> 00:09:47.810 align:start position:0% distribution of trust for mass adoption okay<00:09:44.970> and<00:09:45.149> safe<00:09:45.810> mass<00:09:46.500> adoption<00:09:46.830> privacy 00:09:47.810 --> 00:09:47.820 align:start position:0% okay and safe mass adoption privacy 00:09:47.820 --> 00:09:49.820 align:start position:0% okay and safe mass adoption privacy protection<00:09:48.300> method<00:09:48.630> adoption<00:09:49.200> and<00:09:49.350> the 00:09:49.820 --> 00:09:49.830 align:start position:0% protection method adoption and the 00:09:49.830 --> 00:09:51.769 align:start position:0% protection method adoption and the success<00:09:50.250> though<00:09:50.580> not<00:09:50.820> perfect<00:09:51.060> a<00:09:51.360> privacy 00:09:51.769 --> 00:09:51.779 align:start position:0% success though not perfect a privacy 00:09:51.779 --> 00:09:53.150 align:start position:0% success though not perfect a privacy protection<00:09:52.290> is<00:09:52.470> drawing<00:09:52.980> attention 00:09:53.150 --> 00:09:53.160 align:start position:0% protection is drawing attention 00:09:53.160 --> 00:09:56.000 align:start position:0% protection is drawing attention worldwide<00:09:53.790> and<00:09:54.330> this<00:09:54.990> is<00:09:55.170> what<00:09:55.380> the<00:09:55.560> community 00:09:56.000 --> 00:09:56.010 align:start position:0% worldwide and this is what the community 00:09:56.010 --> 00:09:59.000 align:start position:0% worldwide and this is what the community has<00:09:56.040> done<00:09:56.370> well<00:09:56.610> in<00:09:57.240> terms<00:09:57.540> of<00:09:57.899> impressing<00:09:58.800> a 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00:10:07.980 --> 00:10:09.920 align:start position:0% triggered by more major hex and as soon as<00:10:08.130> there<00:10:08.310> are<00:10:08.370> more<00:10:08.520> hacks<00:10:08.810> especially<00:10:09.810> when 00:10:09.920 --> 00:10:09.930 align:start position:0% as there are more hacks especially when 00:10:09.930 --> 00:10:12.319 align:start position:0% as there are more hacks especially when you're<00:10:10.079> Prime<00:10:10.260> Minister<00:10:10.560> data<00:10:10.770> stolen<00:10:11.329> and 00:10:12.319 --> 00:10:12.329 align:start position:0% you're Prime Minister data stolen and 00:10:12.329 --> 00:10:13.970 align:start position:0% you're Prime Minister data stolen and health<00:10:12.630> data<00:10:12.779> is<00:10:13.020> stolen<00:10:13.350> a<00:10:13.440> country<00:10:13.860> like 00:10:13.970 --> 00:10:13.980 align:start position:0% health data is stolen a country like 00:10:13.980 --> 00:10:15.760 align:start position:0% health data is stolen a country like Singapore<00:10:14.130> will<00:10:14.760> pay<00:10:14.970> more<00:10:15.180> attention<00:10:15.240> to 00:10:15.760 --> 00:10:15.770 align:start position:0% Singapore will pay more attention to 00:10:15.770 --> 00:10:18.980 align:start position:0% Singapore will pay more attention to crypto<00:10:16.770> and<00:10:17.010> I'm<00:10:17.970> sure<00:10:18.149> law<00:10:18.450> you<00:10:18.510> know<00:10:18.810> that 00:10:18.980 --> 00:10:18.990 align:start position:0% crypto and I'm sure law you know that 00:10:18.990 --> 00:10:20.930 align:start position:0% crypto and I'm sure law you know that the<00:10:19.680> country<00:10:19.950> I<00:10:19.980> come<00:10:20.190> from<00:10:20.310> Singapore<00:10:20.610> our 00:10:20.930 --> 00:10:20.940 align:start position:0% the country I come from Singapore our 00:10:20.940 --> 00:10:22.910 align:start position:0% the country I come from Singapore our date<00:10:21.420> our<00:10:21.660> health<00:10:21.870> it<00:10:21.990> has<00:10:22.110> been<00:10:22.290> stolen<00:10:22.529> and 00:10:22.910 --> 00:10:22.920 align:start position:0% date our health it has been stolen and 00:10:22.920 --> 00:10:25.790 align:start position:0% date our health it has been stolen and what<00:10:23.670> is<00:10:23.790> never<00:10:24.000> discussed<00:10:24.570> a<00:10:24.899> lot<00:10:25.410> in<00:10:25.680> this 00:10:25.790 --> 00:10:25.800 align:start position:0% what is never discussed a lot in this 00:10:25.800 --> 00:10:28.790 align:start position:0% what is never discussed a lot in this conference<00:10:26.190> is<00:10:26.899> where<00:10:27.899> it's<00:10:28.110> a<00:10:28.230> sustainable 00:10:28.790 --> 00:10:28.800 align:start position:0% conference is where it's a sustainable 00:10:28.800 --> 00:10:30.620 align:start position:0% conference is where it's a sustainable demand<00:10:29.130> coming<00:10:29.430> from<00:10:29.610> because<00:10:29.970> throughout 00:10:30.620 --> 00:10:30.630 align:start position:0% demand coming from because throughout 00:10:30.630 --> 00:10:33.079 align:start position:0% demand coming from because throughout the<00:10:30.839> two<00:10:31.020> days<00:10:31.050> a<00:10:31.529> lot<00:10:32.130> of<00:10:32.190> us<00:10:32.399> were<00:10:32.579> discussing 00:10:33.079 --> 00:10:33.089 align:start position:0% the two days a lot of us were discussing 00:10:33.089 --> 00:10:35.620 align:start position:0% the two days a lot of us were discussing about<00:10:33.180> the<00:10:33.390> supply<00:10:33.750> side<00:10:33.990> the<00:10:34.490> technology 00:10:35.620 --> 00:10:35.630 align:start position:0% about the supply side the technology 00:10:35.630 --> 00:10:38.030 align:start position:0% about the supply side the technology scalability<00:10:36.630> scale<00:10:37.260> and<00:10:37.560> also<00:10:37.709> sure 00:10:38.030 --> 00:10:38.040 align:start position:0% scalability scale and also sure 00:10:38.040 --> 00:10:39.530 align:start position:0% scalability scale and also sure scalability<00:10:38.670> but<00:10:38.820> where<00:10:39.180> is<00:10:39.300> the<00:10:39.420> demand 00:10:39.530 --> 00:10:39.540 align:start position:0% scalability but where is the demand 00:10:39.540 --> 00:10:41.180 align:start position:0% scalability but where is the demand coming<00:10:39.899> from<00:10:40.170> we<00:10:40.589> are<00:10:40.680> talking<00:10:40.920> about<00:10:41.040> mass 00:10:41.180 --> 00:10:41.190 align:start position:0% coming from we are talking about mass 00:10:41.190 --> 00:10:44.590 align:start position:0% coming from we are talking about mass adoption<00:10:41.520> so<00:10:42.270> it's<00:10:42.510> important<00:10:43.230> to<00:10:43.470> look<00:10:44.130> at 00:10:44.590 --> 00:10:44.600 align:start position:0% adoption so it's important to look at 00:10:44.600 --> 00:10:47.150 align:start position:0% adoption so it's important to look at decentralized<00:10:45.600> financial<00:10:46.380> inclusion<00:10:46.500> and 00:10:47.150 --> 00:10:47.160 align:start position:0% decentralized financial inclusion and 00:10:47.160 --> 00:10:50.720 align:start position:0% decentralized financial inclusion and that's<00:10:48.060> the<00:10:48.180> key<00:10:48.480> to<00:10:48.860> mass<00:10:49.860> adoption<00:10:50.190> and<00:10:50.640> he 00:10:50.720 --> 00:10:50.730 align:start position:0% that's the key to mass adoption and he 00:10:50.730 --> 00:10:53.180 align:start position:0% that's the key to mass adoption and he entails<00:10:51.120> quite<00:10:51.450> a<00:10:51.480> few<00:10:51.720> things<00:10:51.920> this<00:10:52.920> is<00:10:53.100> the 00:10:53.180 --> 00:10:53.190 align:start position:0% entails quite a few things this is the 00:10:53.190 --> 00:10:54.500 align:start position:0% entails quite a few things this is the statistics<00:10:53.670> that<00:10:53.700> we<00:10:53.820> need<00:10:54.029> to<00:10:54.149> know<00:10:54.270> 1% 00:10:54.500 --> 00:10:54.510 align:start position:0% statistics that we need to know 1% 00:10:54.510 --> 00:11:00.350 align:start position:0% statistics that we need to know 1% control<00:10:55.230> 50%<00:10:55.529> 12<00:10:56.540> 1%<00:10:58.160> entitled<00:10:59.160> to<00:10:59.220> 82%<00:10:59.790> of<00:11:00.270> the 00:11:00.350 --> 00:11:00.360 align:start position:0% control 50% 12 1% entitled to 82% of the 00:11:00.360 --> 00:11:02.449 align:start position:0% control 50% 12 1% entitled to 82% of the income<00:11:00.720> last<00:11:00.959> year<00:11:01.140> this<00:11:02.130> is<00:11:02.190> the 00:11:02.449 --> 00:11:02.459 align:start position:0% income last year this is the 00:11:02.459 --> 00:11:05.240 align:start position:0% income last year this is the Constitution<00:11:03.180> we<00:11:03.390> are<00:11:03.570> in<00:11:03.870> and<00:11:04.199> we<00:11:04.680> have<00:11:04.890> big 00:11:05.240 --> 00:11:05.250 align:start position:0% Constitution we are in and we have big 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adoption<00:11:14.019> is<00:11:14.589> about<00:11:15.009> it's<00:11:15.370> about<00:11:15.490> the<00:11:15.610> demand 00:11:16.050 --> 00:11:16.060 align:start position:0% adoption is about it's about the demand 00:11:16.060 --> 00:11:19.980 align:start position:0% adoption is about it's about the demand side<00:11:16.439> okay<00:11:17.470> the<00:11:18.310> beauty<00:11:18.759> of<00:11:18.790> it<00:11:19.089> is<00:11:19.240> that<00:11:19.600> in 00:11:19.980 --> 00:11:19.990 align:start position:0% side okay the beauty of it is that in 00:11:19.990 --> 00:11:23.519 align:start position:0% side okay the beauty of it is that in this<00:11:20.199> countries<00:11:21.029> these<00:11:22.029> countries<00:11:22.509> are<00:11:22.810> not 00:11:23.519 --> 00:11:23.529 align:start position:0% this countries these countries are not 00:11:23.529 --> 00:11:27.449 align:start position:0% this countries these countries are not in<00:11:23.829> them<00:11:24.069> there<00:11:24.790> or<00:11:24.970> in<00:11:25.180> Asia<00:11:25.649> okay<00:11:26.680> they<00:11:27.220> have 00:11:27.449 --> 00:11:27.459 align:start position:0% in them there or in Asia okay they have 00:11:27.459 --> 00:11:30.150 align:start position:0% in them there or in Asia okay they have hundred<00:11:28.060> percent<00:11:28.620> handful<00:11:29.620> and<00:11:29.709> penetration 00:11:30.150 --> 00:11:30.160 align:start position:0% hundred percent handful and penetration 00:11:30.160 --> 00:11:33.960 align:start position:0% hundred percent handful and penetration and<00:11:30.550> we<00:11:30.759> have<00:11:31.000> a<00:11:31.029> digital<00:11:31.329> revolution<00:11:32.319> and<00:11:33.069> at 00:11:33.960 --> 00:11:33.970 align:start position:0% and we have a digital revolution and at 00:11:33.970 --> 00:11:35.249 align:start position:0% and we have a digital revolution and at least<00:11:34.120> four<00:11:34.420> hundred<00:11:34.629> and<00:11:34.870> thirty<00:11:34.930> eight 00:11:35.249 --> 00:11:35.259 align:start position:0% least four hundred and thirty eight 00:11:35.259 --> 00:11:38.790 align:start position:0% least four hundred and thirty eight million<00:11:35.500> in<00:11:35.829> ten<00:11:36.160> countries<00:11:36.490> in<00:11:37.269> ASEAN<00:11:37.589> Asia<00:11:38.589> a 00:11:38.790 --> 00:11:38.800 align:start position:0% million in ten countries in ASEAN Asia a 00:11:38.800 --> 00:11:41.160 align:start position:0% million in ten countries in ASEAN Asia a Southeast<00:11:39.220> Asian<00:11:39.370> nation<00:11:40.000> that<00:11:40.569> ready<00:11:40.870> to<00:11:40.990> be 00:11:41.160 --> 00:11:41.170 align:start position:0% Southeast Asian nation that ready to be 00:11:41.170 --> 00:11:41.670 align:start position:0% Southeast Asian nation that ready to be served 00:11:41.670 --> 00:11:41.680 align:start position:0% served 00:11:41.680 --> 00:11:44.340 align:start position:0% served and<00:11:41.970> seventy-three<00:11:42.970> percent<00:11:43.120> of<00:11:43.480> them<00:11:43.660> do<00:11:44.079> not 00:11:44.340 --> 00:11:44.350 align:start position:0% and seventy-three percent of them do not 00:11:44.350 --> 00:11:47.129 align:start position:0% and seventy-three percent of them do not have<00:11:44.410> a<00:11:44.709> bank<00:11:45.100> account<00:11:45.540> they<00:11:46.540> have<00:11:46.750> a<00:11:46.779> handful 00:11:47.129 --> 00:11:47.139 align:start position:0% have a bank account they have a handful 00:11:47.139 --> 00:11:50.040 align:start position:0% have a bank account they have a handful they<00:11:47.860> have<00:11:48.009> a<00:11:48.040> cow<00:11:48.370> you<00:11:49.120> can<00:11:49.269> tokenize<00:11:49.689> the<00:11:49.839> cow 00:11:50.040 --> 00:11:50.050 align:start position:0% they have a cow you can tokenize the cow 00:11:50.050 --> 00:11:52.319 align:start position:0% they have a cow you can tokenize the cow on<00:11:50.410> a<00:11:50.800> handphone<00:11:51.339> but<00:11:51.850> they<00:11:51.970> don't<00:11:52.149> have 00:11:52.319 --> 00:11:52.329 align:start position:0% on a handphone but they don't have 00:11:52.329 --> 00:11:54.720 align:start position:0% on a handphone but they don't have utilities<00:11:53.050> they<00:11:53.230> have<00:11:53.319> no<00:11:53.470> toilets<00:11:53.980> but<00:11:54.610> they 00:11:54.720 --> 00:11:54.730 align:start position:0% utilities they have no toilets but they 00:11:54.730 --> 00:11:57.660 align:start position:0% utilities they have no toilets but they have<00:11:54.850> a<00:11:54.879> handful<00:11:55.269> and<00:11:55.620> it'll<00:11:56.620> blockchain<00:11:57.040> so 00:11:57.660 --> 00:11:57.670 align:start position:0% have a handful and it'll blockchain so 00:11:57.670 --> 00:12:01.619 align:start position:0% have a handful and it'll blockchain so that's<00:11:57.939> why<00:11:58.089> we<00:11:58.629> should<00:11:58.870> be<00:11:58.990> that<00:11:59.170> okay<00:12:00.480> so<00:12:01.480> the 00:12:01.619 --> 00:12:01.629 align:start position:0% that's why we should be that okay so the 00:12:01.629 --> 00:12:03.629 align:start position:0% that's why we should be that okay so the demand<00:12:01.930> is<00:12:02.050> a<00:12:02.079> decent<00:12:02.470> trans<00:12:02.680> inclusion<00:12:03.009> that 00:12:03.629 --> 00:12:03.639 align:start position:0% demand is a decent trans inclusion that 00:12:03.639 --> 00:12:06.530 align:start position:0% demand is a decent trans inclusion that greatest<00:12:04.180> demand<00:12:04.689> comes<00:12:05.110> from<00:12:05.439> the<00:12:05.560> excluded 00:12:06.530 --> 00:12:06.540 align:start position:0% greatest demand comes from the excluded 00:12:06.540 --> 00:12:09.499 align:start position:0% greatest demand comes from the excluded excluded<00:12:07.540> other<00:12:07.990> customers<00:12:08.800> that<00:12:08.829> we<00:12:09.100> have 00:12:09.499 --> 00:12:09.509 align:start position:0% excluded other customers that we have 00:12:09.509 --> 00:12:12.650 align:start position:0% excluded other customers that we have these<00:12:10.509> are<00:12:10.720> the<00:12:10.810> people<00:12:11.019> and<00:12:11.410> I<00:12:11.529> said<00:12:11.800> we<00:12:12.459> are 00:12:12.650 --> 00:12:12.660 align:start position:0% these are the people and I said we are 00:12:12.660 --> 00:12:15.990 align:start position:0% these are the people and I said we are we<00:12:13.660> have<00:12:13.809> to<00:12:13.839> try<00:12:14.199> to<00:12:14.259> convert<00:12:14.740> day<00:12:15.040> and<00:12:15.550> set<00:12:15.819> to 00:12:15.990 --> 00:12:16.000 align:start position:0% we have to try to convert day and set to 00:12:16.000 --> 00:12:18.900 align:start position:0% we have to try to convert day and set to live<00:12:16.269> TV<00:12:16.629> SS<00:12:17.230> we<00:12:17.889> shouldn't<00:12:18.220> be<00:12:18.309> working<00:12:18.730> with 00:12:18.900 --> 00:12:18.910 align:start position:0% live TV SS we shouldn't be working with 00:12:18.910 --> 00:12:21.569 align:start position:0% live TV SS we shouldn't be working with stocks<00:12:19.540> and<00:12:19.870> shares<00:12:20.500> we<00:12:21.250> shouldn't<00:12:21.519> be 00:12:21.569 --> 00:12:21.579 align:start position:0% stocks and shares we shouldn't be 00:12:21.579 --> 00:12:23.879 align:start position:0% stocks and shares we shouldn't be working<00:12:21.790> with<00:12:22.120> various<00:12:22.480> state<00:12:22.720> we<00:12:23.559> shouldn't 00:12:23.879 --> 00:12:23.889 align:start position:0% working with various state we shouldn't 00:12:23.889 --> 00:12:27.360 align:start position:0% working with various state we shouldn't be<00:12:24.009> working<00:12:24.399> with<00:12:25.199> that<00:12:26.199> instruments<00:12:26.949> or<00:12:27.160> we 00:12:27.360 --> 00:12:27.370 align:start position:0% be working with that instruments or we 00:12:27.370 --> 00:12:29.850 align:start position:0% be working with that instruments or we work<00:12:27.550> with<00:12:27.699> them<00:12:27.910> but<00:12:28.689> with<00:12:28.839> less<00:12:29.139> energy<00:12:29.470> in 00:12:29.850 --> 00:12:29.860 align:start position:0% work with them but with less energy in 00:12:29.860 --> 00:12:32.369 align:start position:0% work with them but with less energy in those<00:12:30.009> area<00:12:30.670> the<00:12:31.000> community<00:12:31.269> should<00:12:31.809> direct 00:12:32.369 --> 00:12:32.379 align:start position:0% those area the community should direct 00:12:32.379 --> 00:12:35.309 align:start position:0% those area the community should direct the<00:12:32.920> attention<00:12:33.189> to<00:12:34.180> trying<00:12:34.509> to<00:12:34.629> convert<00:12:35.110> or 00:12:35.309 --> 00:12:35.319 align:start position:0% the attention to trying to convert or 00:12:35.319 --> 00:12:37.049 align:start position:0% the attention to trying to convert or the<00:12:35.470> dead<00:12:35.649> and<00:12:35.889> sex<00:12:36.160> to<00:12:36.339> live<00:12:36.550> teacher<00:12:36.819> that 00:12:37.049 --> 00:12:37.059 align:start position:0% the dead and sex to live teacher that 00:12:37.059 --> 00:12:40.530 align:start position:0% the dead and sex to live teacher that says<00:12:37.269> like<00:12:37.839> a<00:12:37.870> cow<00:12:38.290> to<00:12:39.069> a<00:12:39.100> farmer<00:12:39.550> as<00:12:40.149> a<00:12:40.269> sheep 00:12:40.530 --> 00:12:40.540 align:start position:0% says like a cow to a farmer as a sheep 00:12:40.540 --> 00:12:42.480 align:start position:0% says like a cow to a farmer as a sheep to<00:12:40.569> a<00:12:40.839> farmer<00:12:41.199> tokenizing<00:12:42.040> the<00:12:42.279> non 00:12:42.480 --> 00:12:42.490 align:start position:0% to a farmer tokenizing the non 00:12:42.490 --> 00:12:45.240 align:start position:0% to a farmer tokenizing the non securities<00:12:43.149> and<00:12:43.420> thence<00:12:44.009> securitized<00:12:45.009> the 00:12:45.240 --> 00:12:45.250 align:start position:0% securities and thence securitized the 00:12:45.250 --> 00:12:47.850 align:start position:0% securities and thence securitized the tokens<00:12:45.730> is<00:12:46.180> what<00:12:46.480> we<00:12:46.600> should<00:12:46.809> do<00:12:47.019> not<00:12:47.620> to 00:12:47.850 --> 00:12:47.860 align:start position:0% tokens is what we should do not to 00:12:47.860 --> 00:12:49.980 align:start position:0% tokens is what we should do not to tokenize<00:12:48.279> the<00:12:48.430> security<00:12:48.970> and<00:12:49.209> then<00:12:49.600> subject 00:12:49.980 --> 00:12:49.990 align:start position:0% tokenize the security and then subject 00:12:49.990 --> 00:12:52.790 align:start position:0% tokenize the security and then subject ourselves<00:12:50.079> to<00:12:50.410> another<00:12:50.769> layer<00:12:51.069> of<00:12:51.689> legal 00:12:52.790 --> 00:12:52.800 align:start position:0% ourselves to another layer of legal 00:12:52.800 --> 00:12:55.799 align:start position:0% ourselves to another layer of legal compliance<00:12:53.800> we<00:12:54.519> just<00:12:54.790> need<00:12:54.970> one<00:12:55.000> layer<00:12:55.480> which 00:12:55.799 --> 00:12:55.809 align:start position:0% compliance we just need one layer which 00:12:55.809 --> 00:12:59.040 align:start position:0% compliance we just need one layer which is<00:12:55.839> to<00:12:56.220> tokenized<00:12:57.220> non<00:12:57.699> securities<00:12:58.209> and<00:12:58.449> then 00:12:59.040 --> 00:12:59.050 align:start position:0% is to tokenized non securities and then 00:12:59.050 --> 00:13:01.799 align:start position:0% is to tokenized non securities and then look<00:12:59.529> for<00:12:59.709> a<00:12:59.769> new<00:12:59.949> token<00:13:00.250> law<00:13:00.579> and<00:13:00.939> request<00:13:01.660> the 00:13:01.799 --> 00:13:01.809 align:start position:0% look for a new token law and request the 00:13:01.809 --> 00:13:03.360 align:start position:0% look for a new token law and request the government<00:13:01.930> to<00:13:02.199> have<00:13:02.350> a<00:13:02.379> new<00:13:02.589> token<00:13:02.829> law<00:13:03.129> and 00:13:03.360 --> 00:13:03.370 align:start position:0% government to have a new token law and 00:13:03.370 --> 00:13:06.600 align:start position:0% government to have a new token law and not<00:13:03.699> subject<00:13:04.240> ourselves<00:13:04.420> to<00:13:04.899> all<00:13:05.610> securities 00:13:06.600 --> 00:13:06.610 align:start position:0% not subject ourselves to all securities 00:13:06.610 --> 00:13:09.389 align:start position:0% not subject ourselves to all securities law<00:13:06.850> commodity<00:13:07.689> laws<00:13:07.899> and<00:13:08.170> so<00:13:08.350> on<00:13:08.379> we<00:13:08.800> one<00:13:09.129> new 00:13:09.389 --> 00:13:09.399 align:start position:0% law commodity laws and so on we one new 00:13:09.399 --> 00:13:11.869 align:start position:0% law commodity laws and so on we one new token<00:13:09.670> laws<00:13:09.970> okay<00:13:10.689> and<00:13:10.870> fractionalize 00:13:11.869 --> 00:13:11.879 align:start position:0% token laws okay and fractionalize 00:13:11.879 --> 00:13:14.009 align:start position:0% token laws okay and fractionalize account<00:13:12.879> that<00:13:13.180> you<00:13:13.240> can<00:13:13.329> run<00:13:13.449> ten<00:13:13.629> percent 00:13:14.009 --> 00:13:14.019 align:start position:0% account that you can run ten percent 00:13:14.019 --> 00:13:15.030 align:start position:0% account that you can run ten percent five<00:13:14.230> percent<00:13:14.259> of<00:13:14.620> cow 00:13:15.030 --> 00:13:15.040 align:start position:0% five percent of cow 00:13:15.040 --> 00:13:17.879 align:start position:0% five percent of cow yama<00:13:15.850> right<00:13:16.480> here<00:13:16.809> in<00:13:17.230> Prague<00:13:17.620> and 00:13:17.879 --> 00:13:17.889 align:start position:0% yama right here in Prague and 00:13:17.889 --> 00:13:20.490 align:start position:0% yama right here in Prague and heterogenous<00:13:18.730> it<00:13:19.269> and<00:13:19.480> now<00:13:19.899> you<00:13:19.959> can<00:13:20.079> own<00:13:20.350> the 00:13:20.490 --> 00:13:20.500 align:start position:0% heterogenous it and now you can own the 00:13:20.500 --> 00:13:21.330 align:start position:0% heterogenous it and now you can own the calf<00:13:20.800> different 00:13:21.330 --> 00:13:21.340 align:start position:0% calf different 00:13:21.340 --> 00:13:23.400 align:start position:0% calf different the<00:13:21.490> cow<00:13:21.730> you<00:13:22.330> can<00:13:22.360> the<00:13:22.600> milk<00:13:22.870> different<00:13:23.290> from 00:13:23.400 --> 00:13:23.410 align:start position:0% the cow you can the milk different from 00:13:23.410 --> 00:13:25.290 align:start position:0% the cow you can the milk different from the<00:13:23.530> cow<00:13:23.710> these<00:13:24.280> are<00:13:24.460> all<00:13:24.610> the<00:13:24.850> things<00:13:24.880> that<00:13:25.210> we 00:13:25.290 --> 00:13:25.300 align:start position:0% the cow these are all the things that we 00:13:25.300 --> 00:13:27.660 align:start position:0% the cow these are all the things that we can<00:13:25.450> tokenize<00:13:26.020> with<00:13:26.440> IOT<00:13:26.800> with<00:13:27.190> convergence 00:13:27.660 --> 00:13:27.670 align:start position:0% can tokenize with IOT with convergence 00:13:27.670 --> 00:13:30.210 align:start position:0% can tokenize with IOT with convergence of<00:13:28.000> Technology<00:13:28.960> and<00:13:29.110> by<00:13:29.350> serving<00:13:29.650> underserved 00:13:30.210 --> 00:13:30.220 align:start position:0% of Technology and by serving underserved 00:13:30.220 --> 00:13:32.100 align:start position:0% of Technology and by serving underserved and<00:13:30.760> we<00:13:31.090> can<00:13:31.240> we<00:13:31.420> can<00:13:31.450> solve<00:13:31.780> the<00:13:31.900> greatest 00:13:32.100 --> 00:13:32.110 align:start position:0% and we can we can solve the greatest 00:13:32.110 --> 00:13:34.650 align:start position:0% and we can we can solve the greatest mystery<00:13:32.890> of<00:13:32.950> all<00:13:33.580> this<00:13:33.790> economy<00:13:34.270> is<00:13:34.390> going<00:13:34.570> to 00:13:34.650 --> 00:13:34.660 align:start position:0% mystery of all this economy is going to 00:13:34.660 --> 00:13:36.780 align:start position:0% mystery of all this economy is going to leapfrog<00:13:35.050> because<00:13:35.890> they<00:13:36.010> have<00:13:36.100> no<00:13:36.220> regulation 00:13:36.780 --> 00:13:36.790 align:start position:0% leapfrog because they have no regulation 00:13:36.790 --> 00:13:39.390 align:start position:0% leapfrog because they have no regulation to<00:13:37.360> deal<00:13:37.390> with<00:13:37.660> any<00:13:37.840> of<00:13:37.960> these<00:13:38.140> we<00:13:38.560> devise<00:13:39.010> our 00:13:39.390 --> 00:13:39.400 align:start position:0% to deal with any of these we devise our 00:13:39.400 --> 00:13:41.760 align:start position:0% to deal with any of these we devise our new<00:13:39.670> token<00:13:39.940> law<00:13:40.270> so<00:13:40.930> that<00:13:40.960> they<00:13:41.200> can<00:13:41.350> get<00:13:41.500> cheap 00:13:41.760 --> 00:13:41.770 align:start position:0% new token law so that they can get cheap 00:13:41.770 --> 00:13:45.270 align:start position:0% new token law so that they can get cheap capital<00:13:42.100> by<00:13:42.940> a<00:13:42.970> globalized<00:13:43.570> crypto<00:13:44.280> funding 00:13:45.270 --> 00:13:45.280 align:start position:0% capital by a globalized crypto funding 00:13:45.280 --> 00:13:47.370 align:start position:0% capital by a globalized crypto funding that<00:13:45.460> we<00:13:45.610> have<00:13:45.850> here<00:13:46.180> for<00:13:46.360> them<00:13:46.540> and<00:13:46.720> there's<00:13:47.320> a 00:13:47.370 --> 00:13:47.380 align:start position:0% that we have here for them and there's a 00:13:47.380 --> 00:13:49.410 align:start position:0% that we have here for them and there's a convergence<00:13:47.890> of<00:13:48.010> tag<00:13:48.340> and<00:13:48.640> this<00:13:49.060> is<00:13:49.210> Nick 00:13:49.410 --> 00:13:49.420 align:start position:0% convergence of tag and this is Nick 00:13:49.420 --> 00:13:51.030 align:start position:0% convergence of tag and this is Nick stage<00:13:49.660> our<00:13:49.960> sea<00:13:50.200> in<00:13:50.260> the<00:13:50.410> next<00:13:50.620> three<00:13:50.770> to<00:13:50.890> four 00:13:51.030 --> 00:13:51.040 align:start position:0% stage our sea in the next three to four 00:13:51.040 --> 00:13:53.610 align:start position:0% stage our sea in the next three to four years<00:13:51.280> I<00:13:51.430> can<00:13:51.760> see<00:13:51.940> most<00:13:52.150> conferences<00:13:52.780> talking 00:13:53.610 --> 00:13:53.620 align:start position:0% years I can see most conferences talking 00:13:53.620 --> 00:13:55.230 align:start position:0% years I can see most conferences talking about<00:13:53.770> convergence<00:13:54.130> of<00:13:54.430> tank<00:13:54.700> where 00:13:55.230 --> 00:13:55.240 align:start position:0% about convergence of tank where 00:13:55.240 --> 00:13:57.930 align:start position:0% about convergence of tank where blockchain<00:13:55.870> is<00:13:56.110> the<00:13:56.890> driver<00:13:57.130> where<00:13:57.430> et<00:13:57.640> VM<00:13:57.850> is 00:13:57.930 --> 00:13:57.940 align:start position:0% blockchain is the driver where et VM is 00:13:57.940 --> 00:13:59.820 align:start position:0% blockchain is the driver where et VM is the<00:13:58.060> driver<00:13:58.300> and<00:13:58.630> sustainable<00:13:59.560> green 00:13:59.820 --> 00:13:59.830 align:start position:0% the driver and sustainable green 00:13:59.830 --> 00:14:02.070 align:start position:0% the driver and sustainable green business<00:14:00.520> model<00:14:00.910> that<00:14:00.940> we<00:14:01.480> don't<00:14:01.750> destroy 00:14:02.070 --> 00:14:02.080 align:start position:0% business model that we don't destroy 00:14:02.080 --> 00:14:04.260 align:start position:0% business model that we don't destroy anymore<00:14:02.530> for<00:14:02.740> us<00:14:02.890> we<00:14:03.010> use<00:14:03.070> drones<00:14:03.550> who<00:14:04.090> are<00:14:04.150> on 00:14:04.260 --> 00:14:04.270 align:start position:0% anymore for us we use drones who are on 00:14:04.270 --> 00:14:06.810 align:start position:0% anymore for us we use drones who are on the<00:14:04.360> blockchain<00:14:04.600> we<00:14:05.410> use<00:14:05.650> mesh<00:14:05.980> networks<00:14:06.670> on 00:14:06.810 --> 00:14:06.820 align:start position:0% the blockchain we use mesh networks on 00:14:06.820 --> 00:14:09.810 align:start position:0% the blockchain we use mesh networks on the<00:14:06.910> blockchain<00:14:07.150> we<00:14:07.960> use<00:14:08.230> satellite<00:14:08.980> payments 00:14:09.810 --> 00:14:09.820 align:start position:0% the blockchain we use satellite payments 00:14:09.820 --> 00:14:12.600 align:start position:0% the blockchain we use satellite payments using<00:14:09.940> token<00:14:10.630> we<00:14:11.380> do<00:14:11.590> not<00:14:11.770> want<00:14:12.070> to<00:14:12.250> build<00:14:12.430> more 00:14:12.600 --> 00:14:12.610 align:start position:0% using token we do not want to build more 00:14:12.610 --> 00:14:14.850 align:start position:0% using token we do not want to build more rows<00:14:12.820> and<00:14:13.030> destroy<00:14:13.330> more<00:14:13.690> for<00:14:14.140> us<00:14:14.260> we<00:14:14.770> just 00:14:14.850 --> 00:14:14.860 align:start position:0% rows and destroy more for us we just 00:14:14.860 --> 00:14:17.460 align:start position:0% rows and destroy more for us we just want<00:14:15.070> to<00:14:15.250> use<00:14:15.340> blockchain<00:14:15.880> to<00:14:16.570> do<00:14:16.870> a<00:14:16.900> lot<00:14:17.230> more 00:14:17.460 --> 00:14:17.470 align:start position:0% want to use blockchain to do a lot more 00:14:17.470 --> 00:14:20.310 align:start position:0% want to use blockchain to do a lot more green<00:14:18.030> advancement<00:14:19.030> so<00:14:19.540> this<00:14:19.780> is<00:14:19.930> the<00:14:20.050> Penn 00:14:20.310 --> 00:14:20.320 align:start position:0% green advancement so this is the Penn 00:14:20.320 --> 00:14:22.770 align:start position:0% green advancement so this is the Penn critical<00:14:20.830> enablers<00:14:21.340> of<00:14:21.490> mass<00:14:21.670> adoption<00:14:21.970> they 00:14:22.770 --> 00:14:22.780 align:start position:0% critical enablers of mass adoption they 00:14:22.780 --> 00:14:25.350 align:start position:0% critical enablers of mass adoption they may<00:14:22.960> be<00:14:23.020> contradicting<00:14:23.710> to<00:14:23.830> each<00:14:23.980> other<00:14:24.360> but 00:14:25.350 --> 00:14:25.360 align:start position:0% may be contradicting to each other but 00:14:25.360 --> 00:14:27.890 align:start position:0% may be contradicting to each other but this<00:14:25.930> is<00:14:26.050> what<00:14:26.230> I<00:14:26.260> thought<00:14:26.560> you<00:14:27.070> have<00:14:27.250> to<00:14:27.370> have 00:14:27.890 --> 00:14:27.900 align:start position:0% this is what I thought you have to have 00:14:27.900 --> 00:14:31.170 align:start position:0% this is what I thought you have to have fast<00:14:28.900> stable<00:14:29.320> internet<00:14:29.650> connection<00:14:29.710> and<00:14:30.370> if 00:14:31.170 --> 00:14:31.180 align:start position:0% fast stable internet connection and if 00:14:31.180 --> 00:14:32.910 align:start position:0% fast stable internet connection and if there's<00:14:31.390> no<00:14:31.510> internet<00:14:31.900> we<00:14:32.350> can<00:14:32.380> use<00:14:32.650> mash 00:14:32.910 --> 00:14:32.920 align:start position:0% there's no internet we can use mash 00:14:32.920 --> 00:14:35.040 align:start position:0% there's no internet we can use mash Network<00:14:33.400> and<00:14:33.610> that<00:14:34.240> can<00:14:34.390> be<00:14:34.480> tokenized 00:14:35.040 --> 00:14:35.050 align:start position:0% Network and that can be tokenized 00:14:35.050 --> 00:14:37.560 align:start position:0% Network and that can be tokenized we<00:14:35.560> can<00:14:35.740> use<00:14:35.950> we<00:14:36.280> need<00:14:36.580> to<00:14:36.730> have<00:14:36.850> interoperable 00:14:37.560 --> 00:14:37.570 align:start position:0% we can use we need to have interoperable 00:14:37.570 --> 00:14:39.900 align:start position:0% we can use we need to have interoperable varying<00:14:37.960> transfer<00:14:38.290> gateway<00:14:38.650> we<00:14:39.610> need<00:14:39.790> her 00:14:39.900 --> 00:14:39.910 align:start position:0% varying transfer gateway we need her 00:14:39.910 --> 00:14:42.090 align:start position:0% varying transfer gateway we need her privacy<00:14:40.300> protection<00:14:40.870> for<00:14:41.020> user<00:14:41.260> we<00:14:41.920> need 00:14:42.090 --> 00:14:42.100 align:start position:0% privacy protection for user we need 00:14:42.100 --> 00:14:43.470 align:start position:0% privacy protection for user we need strong<00:14:42.370> security<00:14:42.820> framework<00:14:43.000> we<00:14:43.240> talked 00:14:43.470 --> 00:14:43.480 align:start position:0% strong security framework we talked 00:14:43.480 --> 00:14:45.300 align:start position:0% strong security framework we talked about<00:14:43.600> the<00:14:43.780> last<00:14:43.930> two<00:14:44.140> days<00:14:44.290> we<00:14:44.560> need<00:14:45.010> open 00:14:45.300 --> 00:14:45.310 align:start position:0% about the last two days we need open 00:14:45.310 --> 00:14:47.850 align:start position:0% about the last two days we need open source<00:14:45.880> and<00:14:46.120> trust<00:14:46.690> distribution<00:14:47.320> governance 00:14:47.850 --> 00:14:47.860 align:start position:0% source and trust distribution governance 00:14:47.860 --> 00:14:50.310 align:start position:0% source and trust distribution governance and<00:14:48.040> this<00:14:48.400> is<00:14:48.550> lacking<00:14:48.760> we<00:14:49.450> need<00:14:49.660> to<00:14:49.900> discuss 00:14:50.310 --> 00:14:50.320 align:start position:0% and this is lacking we need to discuss 00:14:50.320 --> 00:14:52.800 align:start position:0% and this is lacking we need to discuss about<00:14:50.530> governance<00:14:51.130> amongst<00:14:51.790> ourselves<00:14:51.970> cell 00:14:52.800 --> 00:14:52.810 align:start position:0% about governance amongst ourselves cell 00:14:52.810 --> 00:14:55.800 align:start position:0% about governance amongst ourselves cell governance<00:14:53.350> digital<00:14:54.340> literacy<00:14:55.060> and<00:14:55.210> UX<00:14:55.540> which 00:14:55.800 --> 00:14:55.810 align:start position:0% governance digital literacy and UX which 00:14:55.810 --> 00:14:58.160 align:start position:0% governance digital literacy and UX which is<00:14:55.960> still<00:14:56.170> very<00:14:56.200> weak<00:14:56.740> we<00:14:57.280> need<00:14:57.460> digital<00:14:57.910> ID 00:14:58.160 --> 00:14:58.170 align:start position:0% is still very weak we need digital ID 00:14:58.170 --> 00:15:02.280 align:start position:0% is still very weak we need digital ID okay<00:14:59.170> we<00:14:59.620> need<00:14:59.830> compliance<00:15:00.580> easy<00:15:00.970> okay<00:15:01.960> we<00:15:02.110> do 00:15:02.280 --> 00:15:02.290 align:start position:0% okay we need compliance easy okay we do 00:15:02.290 --> 00:15:04.500 align:start position:0% okay we need compliance easy okay we do not<00:15:02.470> want<00:15:02.680> to<00:15:02.770> subject<00:15:02.950> the<00:15:03.190> assisting<00:15:03.790> law<00:15:03.970> we 00:15:04.500 --> 00:15:04.510 align:start position:0% not want to subject the assisting law we 00:15:04.510 --> 00:15:06.750 align:start position:0% not want to subject the assisting law we don't<00:15:04.810> mind<00:15:05.080> to<00:15:05.230> subject<00:15:05.620> to<00:15:05.710> assist<00:15:06.100> the<00:15:06.550> new 00:15:06.750 --> 00:15:06.760 align:start position:0% don't mind to subject to assist the new 00:15:06.760 --> 00:15:09.690 align:start position:0% don't mind to subject to assist the new laws<00:15:07.030> that's<00:15:07.750> favorable<00:15:08.500> to<00:15:08.680> the<00:15:09.070> token<00:15:09.460> world 00:15:09.690 --> 00:15:09.700 align:start position:0% laws that's favorable to the token world 00:15:09.700 --> 00:15:12.750 align:start position:0% laws that's favorable to the token world but<00:15:10.150> not<00:15:10.480> all<00:15:10.780> regulation<00:15:11.530> and<00:15:11.760> comprehensive 00:15:12.750 --> 00:15:12.760 align:start position:0% but not all regulation and comprehensive 00:15:12.760 --> 00:15:15.270 align:start position:0% but not all regulation and comprehensive data<00:15:13.030> and<00:15:13.330> Oracle's<00:15:13.750> ecosystem<00:15:14.650> which<00:15:15.160> we 00:15:15.270 --> 00:15:15.280 align:start position:0% data and Oracle's ecosystem which we 00:15:15.280 --> 00:15:16.890 align:start position:0% data and Oracle's ecosystem which we talk<00:15:15.490> about<00:15:15.640> decentralized<00:15:16.300> oracle 00:15:16.890 --> 00:15:16.900 align:start position:0% talk about decentralized oracle 00:15:16.900 --> 00:15:19.260 align:start position:0% talk about decentralized oracle yesterday<00:15:17.860> and<00:15:18.100> talent<00:15:18.880> knowledge<00:15:19.000> and 00:15:19.260 --> 00:15:19.270 align:start position:0% yesterday and talent knowledge and 00:15:19.270 --> 00:15:21.150 align:start position:0% yesterday and talent knowledge and skills<00:15:19.540> which<00:15:19.750> is<00:15:19.780> why<00:15:20.050> we<00:15:20.590> are<00:15:20.620> all<00:15:20.710> here<00:15:20.860> to 00:15:21.150 --> 00:15:21.160 align:start position:0% skills which is why we are all here to 00:15:21.160 --> 00:15:23.610 align:start position:0% skills which is why we are all here to exchange<00:15:21.400> views<00:15:21.850> and<00:15:22.120> share<00:15:22.690> whatever<00:15:23.260> we 00:15:23.610 --> 00:15:23.620 align:start position:0% exchange views and share whatever we 00:15:23.620 --> 00:15:26.820 align:start position:0% exchange views and share whatever we have<00:15:23.890> now<00:15:24.790> this<00:15:25.060> is<00:15:25.180> the<00:15:25.300> market<00:15:25.600> size<00:15:25.780> look<00:15:26.710> at 00:15:26.820 --> 00:15:26.830 align:start position:0% have now this is the market size look at 00:15:26.830 --> 00:15:28.950 align:start position:0% have now this is the market size look at that<00:15:26.980> for<00:15:27.160> remittances<00:15:27.760> welfare<00:15:28.270> a<00:15:28.450> donation 00:15:28.950 --> 00:15:28.960 align:start position:0% that for remittances welfare a donation 00:15:28.960 --> 00:15:30.000 align:start position:0% that for remittances welfare a donation ownership<00:15:29.590> of<00:15:29.710> data 00:15:30.000 --> 00:15:30.010 align:start position:0% ownership of data 00:15:30.010 --> 00:15:32.220 align:start position:0% ownership of data healthcare<00:15:30.700> have<00:15:31.330> you<00:15:31.480> ever<00:15:31.750> found<00:15:32.080> yourself 00:15:32.220 --> 00:15:32.230 align:start position:0% healthcare have you ever found yourself 00:15:32.230 --> 00:15:34.150 align:start position:0% healthcare have you ever found yourself donating<00:15:33.220> to<00:15:33.460> a<00:15:33.700> chair 00:15:34.150 --> 00:15:34.160 align:start position:0% donating to a chair 00:15:34.160 --> 00:15:35.619 align:start position:0% donating to a chair tea<00:15:34.339> and<00:15:34.699> you<00:15:34.879> never<00:15:35.060> found<00:15:35.269> out<00:15:35.389> where<00:15:35.509> your 00:15:35.619 --> 00:15:35.629 align:start position:0% tea and you never found out where your 00:15:35.629 --> 00:15:39.340 align:start position:0% tea and you never found out where your money<00:15:35.779> goes<00:15:36.069> so<00:15:37.069> this<00:15:37.579> company<00:15:37.879> attack<00:15:38.600> they 00:15:39.340 --> 00:15:39.350 align:start position:0% money goes so this company attack they 00:15:39.350 --> 00:15:41.769 align:start position:0% money goes so this company attack they have<00:15:39.649> remittances<00:15:40.430> looking<00:15:41.120> they<00:15:41.509> have 00:15:41.769 --> 00:15:41.779 align:start position:0% have remittances looking they have 00:15:41.779 --> 00:15:45.610 align:start position:0% have remittances looking they have welfare<00:15:43.360> transfer<00:15:44.360> a<00:15:44.660> transfer<00:15:44.690> health<00:15:45.410> care 00:15:45.610 --> 00:15:45.620 align:start position:0% welfare transfer a transfer health care 00:15:45.620 --> 00:15:48.850 align:start position:0% welfare transfer a transfer health care it<00:15:45.889> is<00:15:45.949> a<00:15:46.160> profitable<00:15:47.120> business<00:15:47.769> it's<00:15:48.769> a 00:15:48.850 --> 00:15:48.860 align:start position:0% it is a profitable business it's a 00:15:48.860 --> 00:15:51.550 align:start position:0% it is a profitable business it's a combination<00:15:49.250> of<00:15:49.850> profit<00:15:50.569> motives<00:15:51.110> with 00:15:51.550 --> 00:15:51.560 align:start position:0% combination of profit motives with 00:15:51.560 --> 00:15:53.470 align:start position:0% combination of profit motives with social<00:15:51.920> objectives<00:15:52.399> and<00:15:52.610> this<00:15:53.180> is<00:15:53.360> the 00:15:53.470 --> 00:15:53.480 align:start position:0% social objectives and this is the 00:15:53.480 --> 00:15:54.999 align:start position:0% social objectives and this is the direction<00:15:53.810> we<00:15:54.079> should<00:15:54.110> go 00:15:54.999 --> 00:15:55.009 align:start position:0% direction we should go 00:15:55.009 --> 00:15:56.920 align:start position:0% direction we should go using<00:15:55.550> blockchain<00:15:56.000> with<00:15:56.149> more<00:15:56.389> transparency 00:15:56.920 --> 00:15:56.930 align:start position:0% using blockchain with more transparency 00:15:56.930 --> 00:16:00.340 align:start position:0% using blockchain with more transparency and<00:15:57.170> this<00:15:57.709> is<00:15:57.829> a<00:15:57.860> market<00:15:58.250> size<00:15:58.430> it<00:15:59.000> is<00:15:59.060> big<00:15:59.480> you 00:16:00.340 --> 00:16:00.350 align:start position:0% and this is a market size it is big you 00:16:00.350 --> 00:16:02.679 align:start position:0% and this is a market size it is big you can<00:16:00.500> accommodate<00:16:01.100> many<00:16:01.339> of<00:16:01.670> us<00:16:01.850> just<00:16:02.089> not 00:16:02.679 --> 00:16:02.689 align:start position:0% can accommodate many of us just not 00:16:02.689 --> 00:16:04.360 align:start position:0% can accommodate many of us just not there's<00:16:02.930> just<00:16:03.139> not<00:16:03.350> enough<00:16:03.410> people<00:16:03.740> working 00:16:04.360 --> 00:16:04.370 align:start position:0% there's just not enough people working 00:16:04.370 --> 00:16:06.460 align:start position:0% there's just not enough people working in<00:16:04.490> those<00:16:04.639> areas<00:16:04.939> and<00:16:05.689> we<00:16:06.079> have<00:16:06.110> the<00:16:06.319> fur 00:16:06.460 --> 00:16:06.470 align:start position:0% in those areas and we have the fur 00:16:06.470 --> 00:16:09.189 align:start position:0% in those areas and we have the fur Busters<00:16:07.100> baby<00:16:07.399> born<00:16:07.759> on<00:16:07.939> blockchain<00:16:08.180> and<00:16:08.569> this 00:16:09.189 --> 00:16:09.199 align:start position:0% Busters baby born on blockchain and this 00:16:09.199 --> 00:16:11.350 align:start position:0% Busters baby born on blockchain and this is<00:16:09.319> also<00:16:09.470> a<00:16:09.589> company<00:16:09.980> that<00:16:10.189> we<00:16:10.279> we<00:16:10.819> invested<00:16:11.269> in 00:16:11.350 --> 00:16:11.360 align:start position:0% is also a company that we we invested in 00:16:11.360 --> 00:16:13.119 align:start position:0% is also a company that we we invested in because<00:16:11.540> when<00:16:11.810> you<00:16:11.899> are<00:16:11.930> refugee<00:16:12.500> you<00:16:12.889> have<00:16:12.980> no 00:16:13.119 --> 00:16:13.129 align:start position:0% because when you are refugee you have no 00:16:13.129 --> 00:16:14.949 align:start position:0% because when you are refugee you have no identity<00:16:13.370> you<00:16:14.240> have<00:16:14.420> to<00:16:14.509> be<00:16:14.600> given<00:16:14.720> an 00:16:14.949 --> 00:16:14.959 align:start position:0% identity you have to be given an 00:16:14.959 --> 00:16:15.460 align:start position:0% identity you have to be given an identity 00:16:15.460 --> 00:16:15.470 align:start position:0% identity 00:16:15.470 --> 00:16:17.230 align:start position:0% identity once<00:16:15.980> you<00:16:16.129> have<00:16:16.250> identity<00:16:16.790> what<00:16:17.000> they<00:16:17.089> give 00:16:17.230 --> 00:16:17.240 align:start position:0% once you have identity what they give 00:16:17.240 --> 00:16:20.740 align:start position:0% once you have identity what they give birth<00:16:17.509> you<00:16:18.470> need<00:16:18.680> money<00:16:18.920> so<00:16:19.550> what<00:16:20.300> happens<00:16:20.629> is 00:16:20.740 --> 00:16:20.750 align:start position:0% birth you need money so what happens is 00:16:20.750 --> 00:16:23.139 align:start position:0% birth you need money so what happens is that<00:16:20.779> a<00:16:20.990> tear<00:16:21.230> has<00:16:21.379> given<00:16:21.680> the<00:16:21.769> money<00:16:21.920> the<00:16:22.910> lady 00:16:23.139 --> 00:16:23.149 align:start position:0% that a tear has given the money the lady 00:16:23.149 --> 00:16:24.999 align:start position:0% that a tear has given the money the lady could<00:16:23.449> go<00:16:23.689> to<00:16:23.750> the<00:16:23.930> hospital<00:16:24.410> and<00:16:24.500> gave<00:16:24.740> birth 00:16:24.999 --> 00:16:25.009 align:start position:0% could go to the hospital and gave birth 00:16:25.009 --> 00:16:27.069 align:start position:0% could go to the hospital and gave birth now<00:16:25.519> the<00:16:25.579> danger<00:16:26.089> is<00:16:26.269> that<00:16:26.300> when<00:16:26.660> the<00:16:26.750> baby<00:16:26.959> is 00:16:27.069 --> 00:16:27.079 align:start position:0% now the danger is that when the baby is 00:16:27.079 --> 00:16:30.009 align:start position:0% now the danger is that when the baby is born<00:16:27.199> whatever<00:16:27.949> medical<00:16:28.639> expenses<00:16:29.209> is<00:16:29.600> taken 00:16:30.009 --> 00:16:30.019 align:start position:0% born whatever medical expenses is taken 00:16:30.019 --> 00:16:32.559 align:start position:0% born whatever medical expenses is taken away<00:16:30.230> by<00:16:30.410> syndicate<00:16:30.949> and<00:16:31.160> again<00:16:32.000> blockchain 00:16:32.559 --> 00:16:32.569 align:start position:0% away by syndicate and again blockchain 00:16:32.569 --> 00:16:33.670 align:start position:0% away by syndicate and again blockchain will<00:16:32.750> allow<00:16:33.079> that 00:16:33.670 --> 00:16:33.680 align:start position:0% will allow that 00:16:33.680 --> 00:16:36.519 align:start position:0% will allow that expenses<00:16:34.430> be<00:16:34.790> spanned<00:16:35.319> specifically<00:16:36.319> in<00:16:36.470> the 00:16:36.519 --> 00:16:36.529 align:start position:0% expenses be spanned specifically in the 00:16:36.529 --> 00:16:39.129 align:start position:0% expenses be spanned specifically in the hospital<00:16:37.040> for<00:16:37.430> medicine<00:16:37.970> for<00:16:38.449> the<00:16:38.630> baby<00:16:38.810> so 00:16:39.129 --> 00:16:39.139 align:start position:0% hospital for medicine for the baby so 00:16:39.139 --> 00:16:42.730 align:start position:0% hospital for medicine for the baby so this<00:16:39.740> is<00:16:39.889> a<00:16:39.920> baby<00:16:40.220> on<00:16:40.870> the<00:16:41.870> block<00:16:42.290> the<00:16:42.529> block 00:16:42.730 --> 00:16:42.740 align:start position:0% this is a baby on the block the block 00:16:42.740 --> 00:16:45.370 align:start position:0% this is a baby on the block the block chain<00:16:42.980> and<00:16:43.250> it<00:16:43.399> is<00:16:43.519> not<00:16:43.819> a<00:16:44.060> myth<00:16:44.389> it<00:16:44.870> is<00:16:45.050> really 00:16:45.370 --> 00:16:45.380 align:start position:0% chain and it is not a myth it is really 00:16:45.380 --> 00:16:47.679 align:start position:0% chain and it is not a myth it is really happening<00:16:45.589> okay<00:16:46.459> and<00:16:46.819> know<00:16:47.149> what<00:16:47.329> you<00:16:47.569> know 00:16:47.679 --> 00:16:47.689 align:start position:0% happening okay and know what you know 00:16:47.689 --> 00:16:50.710 align:start position:0% happening okay and know what you know what<00:16:47.889> government<00:16:48.889> are<00:16:49.250> now<00:16:49.370> investing<00:16:49.970> into 00:16:50.710 --> 00:16:50.720 align:start position:0% what government are now investing into 00:16:50.720 --> 00:16:54.309 align:start position:0% what government are now investing into blockchain<00:16:51.350> Singapore<00:16:52.220> government<00:16:53.319> Irish 00:16:54.309 --> 00:16:54.319 align:start position:0% blockchain Singapore government Irish 00:16:54.319 --> 00:16:56.259 align:start position:0% blockchain Singapore government Irish government<00:16:54.769> they<00:16:54.920> are<00:16:54.949> all<00:16:55.069> investing<00:16:55.610> token 00:16:56.259 --> 00:16:56.269 align:start position:0% government they are all investing token 00:16:56.269 --> 00:16:59.499 align:start position:0% government they are all investing token well<00:16:57.139> Jim<00:16:57.350> projects<00:16:57.860> and<00:16:58.040> then<00:16:58.670> in<00:16:58.910> Miami<00:16:59.209> you 00:16:59.499 --> 00:16:59.509 align:start position:0% well Jim projects and then in Miami you 00:16:59.509 --> 00:17:01.870 align:start position:0% well Jim projects and then in Miami you have<00:16:59.540> the<00:16:59.689> token<00:17:00.439> which<00:17:00.800> I<00:17:00.889> mentioned<00:17:01.339> it<00:17:01.699> is 00:17:01.870 --> 00:17:01.880 align:start position:0% have the token which I mentioned it is 00:17:01.880 --> 00:17:04.899 align:start position:0% have the token which I mentioned it is not<00:17:02.120> a<00:17:02.149> dream<00:17:02.600> it<00:17:03.019> is<00:17:03.259> ready<00:17:03.529> life<00:17:03.860> okay<00:17:04.850> you 00:17:04.899 --> 00:17:04.909 align:start position:0% not a dream it is ready life okay you 00:17:04.909 --> 00:17:07.809 align:start position:0% not a dream it is ready life okay you can<00:17:05.150> tokenize<00:17:05.569> a<00:17:05.600> cow<00:17:05.990> and<00:17:06.380> you<00:17:07.220> can<00:17:07.400> you<00:17:07.640> can 00:17:07.809 --> 00:17:07.819 align:start position:0% can tokenize a cow and you can you can 00:17:07.819 --> 00:17:09.669 align:start position:0% can tokenize a cow and you can you can see<00:17:07.939> the<00:17:08.059> years<00:17:08.329> is<00:17:08.539> that's<00:17:08.720> attack<00:17:09.079> he<00:17:09.500> wants 00:17:09.669 --> 00:17:09.679 align:start position:0% see the years is that's attack he wants 00:17:09.679 --> 00:17:11.620 align:start position:0% see the years is that's attack he wants to<00:17:09.740> break<00:17:09.980> it<00:17:10.189> there's<00:17:10.730> no<00:17:10.939> more<00:17:11.120> insurance 00:17:11.620 --> 00:17:11.630 align:start position:0% to break it there's no more insurance 00:17:11.630 --> 00:17:14.319 align:start position:0% to break it there's no more insurance but<00:17:12.230> basically<00:17:12.620> this<00:17:13.100> is<00:17:13.309> how<00:17:13.339> you<00:17:13.610> take<00:17:13.970> on<00:17:14.179> to 00:17:14.319 --> 00:17:14.329 align:start position:0% but basically this is how you take on to 00:17:14.329 --> 00:17:17.169 align:start position:0% but basically this is how you take on to your<00:17:14.419> blockchain<00:17:14.929> and<00:17:15.140> again<00:17:15.880> the<00:17:16.880> government 00:17:17.169 --> 00:17:17.179 align:start position:0% your blockchain and again the government 00:17:17.179 --> 00:17:19.960 align:start position:0% your blockchain and again the government raw<00:17:17.449> break<00:17:18.049> happened<00:17:18.530> 60<00:17:19.189> million<00:17:19.490> counts<00:17:19.880> to 00:17:19.960 --> 00:17:19.970 align:start position:0% raw break happened 60 million counts to 00:17:19.970 --> 00:17:20.620 align:start position:0% raw break happened 60 million counts to be<00:17:20.059> tokenized 00:17:20.620 --> 00:17:20.630 align:start position:0% be tokenized 00:17:20.630 --> 00:17:23.199 align:start position:0% be tokenized this<00:17:21.199> these<00:17:21.470> are<00:17:21.650> these<00:17:22.339> are<00:17:22.370> the<00:17:22.640> project 00:17:23.199 --> 00:17:23.209 align:start position:0% this these are these are the project 00:17:23.209 --> 00:17:26.140 align:start position:0% this these are these are the project that<00:17:23.360> can<00:17:23.510> be<00:17:23.630> on<00:17:23.839> a<00:17:24.230> theorem<00:17:25.069> or<00:17:25.400> can<00:17:25.819> be<00:17:25.970> on<00:17:26.120> a 00:17:26.140 --> 00:17:26.150 align:start position:0% that can be on a theorem or can be on a 00:17:26.150 --> 00:17:28.750 align:start position:0% that can be on a theorem or can be on a lot<00:17:26.539> of<00:17:26.569> other<00:17:27.189> blockchain<00:17:28.189> that<00:17:28.370> we<00:17:28.429> can<00:17:28.580> talk 00:17:28.750 --> 00:17:28.760 align:start position:0% lot of other blockchain that we can talk 00:17:28.760 --> 00:17:31.180 align:start position:0% lot of other blockchain that we can talk about<00:17:28.820> and<00:17:29.419> have<00:17:29.559> you<00:17:30.559> ever<00:17:30.710> heard<00:17:31.070> about 00:17:31.180 --> 00:17:31.190 align:start position:0% about and have you ever heard about 00:17:31.190 --> 00:17:33.820 align:start position:0% about and have you ever heard about cypherpunk<00:17:32.059> government<00:17:32.659> is<00:17:33.559> there<00:17:33.799> a 00:17:33.820 --> 00:17:33.830 align:start position:0% cypherpunk government is there a 00:17:33.830 --> 00:17:38.440 align:start position:0% cypherpunk government is there a oxymoron<00:17:34.669> right<00:17:36.039> well<00:17:37.039> what<00:17:37.850> is<00:17:38.000> happening<00:17:38.390> in 00:17:38.440 --> 00:17:38.450 align:start position:0% oxymoron right well what is happening in 00:17:38.450 --> 00:17:41.200 align:start position:0% oxymoron right well what is happening in Singapore<00:17:38.659> Rubin<00:17:39.440> one<00:17:39.850> using<00:17:40.850> it<00:17:41.000> here 00:17:41.200 --> 00:17:41.210 align:start position:0% Singapore Rubin one using it here 00:17:41.210 --> 00:17:42.850 align:start position:0% Singapore Rubin one using it here amassing<00:17:41.690> dollars<00:17:42.049> for<00:17:42.200> international 00:17:42.850 --> 00:17:42.860 align:start position:0% amassing dollars for international 00:17:42.860 --> 00:17:46.450 align:start position:0% amassing dollars for international payment<00:17:43.390> okay<00:17:44.390> it's<00:17:44.870> really<00:17:45.169> done 00:17:46.450 --> 00:17:46.460 align:start position:0% payment okay it's really done 00:17:46.460 --> 00:17:49.300 align:start position:0% payment okay it's really done okay<00:17:46.940> Reuben<00:17:47.510> -<00:17:47.810> has<00:17:48.440> just<00:17:48.650> been<00:17:48.830> announced 00:17:49.300 --> 00:17:49.310 align:start position:0% okay Reuben - has just been announced 00:17:49.310 --> 00:17:50.230 align:start position:0% okay Reuben - has just been announced okay 00:17:50.230 --> 00:17:50.240 align:start position:0% okay 00:17:50.240 --> 00:17:53.080 align:start position:0% okay and<00:17:50.330> we<00:17:50.570> have<00:17:50.690> coda<00:17:51.160> we<00:17:52.160> have<00:17:52.340> a<00:17:52.370> hyper<00:17:52.820> ledger 00:17:53.080 --> 00:17:53.090 align:start position:0% and we have coda we have a hyper ledger 00:17:53.090 --> 00:17:55.660 align:start position:0% and we have coda we have a hyper ledger and<00:17:53.510> we<00:17:54.200> also<00:17:54.380> have<00:17:54.620> quorum<00:17:54.980> and<00:17:55.520> they're 00:17:55.660 --> 00:17:55.670 align:start position:0% and we also have quorum and they're 00:17:55.670 --> 00:17:57.970 align:start position:0% and we also have quorum and they're using<00:17:55.880> encryption<00:17:56.660> they're<00:17:57.380> using<00:17:57.680> zero 00:17:57.970 --> 00:17:57.980 align:start position:0% using encryption they're using zero 00:17:57.980 --> 00:18:00.610 align:start position:0% using encryption they're using zero knowledge<00:17:58.340> and<00:17:58.610> is<00:17:59.450> the<00:17:59.600> central<00:17:59.960> bank<00:18:00.110> I'm 00:18:00.610 --> 00:18:00.620 align:start position:0% knowledge and is the central bank I'm 00:18:00.620 --> 00:18:02.770 align:start position:0% knowledge and is the central bank I'm talking<00:18:00.980> central<00:18:01.340> bank<00:18:01.520> who<00:18:01.910> knows<00:18:02.180> more 00:18:02.770 --> 00:18:02.780 align:start position:0% talking central bank who knows more 00:18:02.780 --> 00:18:04.510 align:start position:0% talking central bank who knows more about<00:18:02.840> different<00:18:03.590> technology<00:18:03.860> than 00:18:04.510 --> 00:18:04.520 align:start position:0% about different technology than 00:18:04.520 --> 00:18:06.760 align:start position:0% about different technology than sometimes<00:18:04.970> than<00:18:05.420> us<00:18:05.600> and<00:18:05.870> then<00:18:06.350> the<00:18:06.470> open 00:18:06.760 --> 00:18:06.770 align:start position:0% sometimes than us and then the open 00:18:06.770 --> 00:18:08.950 align:start position:0% sometimes than us and then the open trade<00:18:07.010> blocked<00:18:07.280> in<00:18:07.460> by<00:18:07.610> the<00:18:07.670> government<00:18:07.960> that 00:18:08.950 --> 00:18:08.960 align:start position:0% trade blocked in by the government that 00:18:08.960 --> 00:18:10.960 align:start position:0% trade blocked in by the government that and<00:18:09.230> the<00:18:09.410> government<00:18:09.710> is<00:18:10.040> a<00:18:10.220> gnostic<00:18:10.760> and 00:18:10.960 --> 00:18:10.970 align:start position:0% and the government is a gnostic and 00:18:10.970 --> 00:18:12.790 align:start position:0% and the government is a gnostic and harness<00:18:11.330> the<00:18:11.450> backs<00:18:11.660> technology<00:18:12.200> and<00:18:12.410> they 00:18:12.790 --> 00:18:12.800 align:start position:0% harness the backs technology and they 00:18:12.800 --> 00:18:14.590 align:start position:0% harness the backs technology and they expand<00:18:13.220> into<00:18:13.460> the<00:18:13.580> open<00:18:13.880> virtual<00:18:14.240> space<00:18:14.450> and 00:18:14.590 --> 00:18:14.600 align:start position:0% expand into the open virtual space and 00:18:14.600 --> 00:18:16.630 align:start position:0% expand into the open virtual space and the<00:18:15.080> best<00:18:15.290> thing<00:18:15.530> you<00:18:15.680> look<00:18:15.830> at<00:18:16.010> a<00:18:16.040> report<00:18:16.250> you 00:18:16.630 --> 00:18:16.640 align:start position:0% the best thing you look at a report you 00:18:16.640 --> 00:18:20.200 align:start position:0% the best thing you look at a report you just<00:18:16.850> google<00:18:17.540> rubin<00:18:18.440> to<00:18:18.950> the<00:18:19.550> report<00:18:19.970> says 00:18:20.200 --> 00:18:20.210 align:start position:0% just google rubin to the report says 00:18:20.210 --> 00:18:21.760 align:start position:0% just google rubin to the report says that<00:18:20.240> they<00:18:20.630> would<00:18:20.750> diminish<00:18:20.990> itself<00:18:21.440> by 00:18:21.760 --> 00:18:21.770 align:start position:0% that they would diminish itself by 00:18:21.770 --> 00:18:23.710 align:start position:0% that they would diminish itself by providing<00:18:22.190> infrastructure<00:18:23.120> the<00:18:23.330> hell<00:18:23.450> I<00:18:23.540> saw 00:18:23.710 --> 00:18:23.720 align:start position:0% providing infrastructure the hell I saw 00:18:23.720 --> 00:18:25.570 align:start position:0% providing infrastructure the hell I saw to<00:18:23.900> she<00:18:24.110> the<00:18:24.860> government<00:18:25.250> would<00:18:25.340> diminish 00:18:25.570 --> 00:18:25.580 align:start position:0% to she the government would diminish 00:18:25.580 --> 00:18:28.480 align:start position:0% to she the government would diminish themselves<00:18:26.210> okay<00:18:27.110> so<00:18:27.560> you<00:18:27.860> here<00:18:28.070> see<00:18:28.310> that 00:18:28.480 --> 00:18:28.490 align:start position:0% themselves okay so you here see that 00:18:28.490 --> 00:18:31.120 align:start position:0% themselves okay so you here see that last<00:18:29.420> to<00:18:29.600> priestess<00:18:30.080> is<00:18:30.320> the<00:18:30.410> excluded<00:18:30.860> will 00:18:31.120 --> 00:18:31.130 align:start position:0% last to priestess is the excluded will 00:18:31.130 --> 00:18:33.940 align:start position:0% last to priestess is the excluded will change<00:18:31.490> the<00:18:31.760> world<00:18:32.110> because<00:18:33.110> mass<00:18:33.590> adoption 00:18:33.940 --> 00:18:33.950 align:start position:0% change the world because mass adoption 00:18:33.950 --> 00:18:36.520 align:start position:0% change the world because mass adoption come<00:18:34.370> from<00:18:34.550> exclusion<00:18:35.120> okay<00:18:35.870> if<00:18:36.260> you<00:18:36.410> are 00:18:36.520 --> 00:18:36.530 align:start position:0% come from exclusion okay if you are 00:18:36.530 --> 00:18:38.020 align:start position:0% come from exclusion okay if you are doing<00:18:36.800> exactly<00:18:36.920> the<00:18:37.310> same<00:18:37.340> thing<00:18:37.790> as<00:18:37.940> the 00:18:38.020 --> 00:18:38.030 align:start position:0% doing exactly the same thing as the 00:18:38.030 --> 00:18:39.940 align:start position:0% doing exactly the same thing as the government<00:18:38.420> and<00:18:38.570> cooperate<00:18:38.990> then<00:18:39.440> it<00:18:39.620> is<00:18:39.740> not 00:18:39.940 --> 00:18:39.950 align:start position:0% government and cooperate then it is not 00:18:39.950 --> 00:18:41.320 align:start position:0% government and cooperate then it is not sustainable<00:18:40.220> because<00:18:40.760> they<00:18:40.970> can<00:18:41.150> do<00:18:41.240> it 00:18:41.320 --> 00:18:41.330 align:start position:0% sustainable because they can do it 00:18:41.330 --> 00:18:44.200 align:start position:0% sustainable because they can do it better<00:18:41.540> than<00:18:41.750> you<00:18:41.810> you<00:18:42.770> try<00:18:43.040> to<00:18:43.070> do<00:18:43.430> security<00:18:43.760> I 00:18:44.200 --> 00:18:44.210 align:start position:0% better than you you try to do security I 00:18:44.210 --> 00:18:46.120 align:start position:0% better than you you try to do security I don't<00:18:44.870> think<00:18:45.020> you'll<00:18:45.140> be<00:18:45.230> better<00:18:45.440> than<00:18:45.920> any 00:18:46.120 --> 00:18:46.130 align:start position:0% don't think you'll be better than any 00:18:46.130 --> 00:18:48.160 align:start position:0% don't think you'll be better than any exchanges<00:18:46.670> that's<00:18:47.120> why<00:18:47.300> this<00:18:47.360> yeast<00:18:47.960> of 00:18:48.160 --> 00:18:48.170 align:start position:0% exchanges that's why this yeast of 00:18:48.170 --> 00:18:50.770 align:start position:0% exchanges that's why this yeast of compliance<00:18:48.740> is<00:18:48.980> he<00:18:49.280> too<00:18:49.880> much<00:18:50.090> of<00:18:50.240> a<00:18:50.330> develop 00:18:50.770 --> 00:18:50.780 align:start position:0% compliance is he too much of a develop 00:18:50.780 --> 00:18:53.110 align:start position:0% compliance is he too much of a develop economy<00:18:51.230> thinking<00:18:51.680> in<00:18:51.830> design<00:18:52.220> for<00:18:53.030> example 00:18:53.110 --> 00:18:53.120 align:start position:0% economy thinking in design for example 00:18:53.120 --> 00:18:55.900 align:start position:0% economy thinking in design for example why<00:18:53.660> think<00:18:54.020> about<00:18:54.110> Ricardian<00:18:54.710> contract<00:18:55.550> where 00:18:55.900 --> 00:18:55.910 align:start position:0% why think about Ricardian contract where 00:18:55.910 --> 00:18:57.700 align:start position:0% why think about Ricardian contract where you<00:18:56.030> can<00:18:56.210> have<00:18:56.390> a<00:18:56.420> new<00:18:56.690> token<00:18:56.960> legislation 00:18:57.700 --> 00:18:57.710 align:start position:0% you can have a new token legislation 00:18:57.710 --> 00:19:00.430 align:start position:0% you can have a new token legislation just<00:18:58.580> prove<00:18:58.760> a<00:18:58.880> new<00:18:59.060> token<00:18:59.270> reg<00:18:59.600> legislation 00:19:00.430 --> 00:19:00.440 align:start position:0% just prove a new token reg legislation 00:19:00.440 --> 00:19:01.810 align:start position:0% just prove a new token reg legislation there<00:19:00.590> are<00:19:00.650> many<00:19:00.830> many<00:19:01.040> countries<00:19:01.400> in<00:19:01.760> the 00:19:01.810 --> 00:19:01.820 align:start position:0% there are many many countries in the 00:19:01.820 --> 00:19:03.520 align:start position:0% there are many many countries in the world<00:19:01.970> that<00:19:02.270> will<00:19:02.480> be<00:19:02.540> able<00:19:02.750> to<00:19:02.960> have<00:19:03.110> that<00:19:03.290> and 00:19:03.520 --> 00:19:03.530 align:start position:0% world that will be able to have that and 00:19:03.530 --> 00:19:05.050 align:start position:0% world that will be able to have that and that's<00:19:03.950> why<00:19:04.190> investment<00:19:04.730> should<00:19:04.850> go<00:19:05.000> to 00:19:05.050 --> 00:19:05.060 align:start position:0% that's why investment should go to 00:19:05.060 --> 00:19:08.500 align:start position:0% that's why investment should go to places<00:19:05.390> that<00:19:05.780> lay<00:19:06.350> out<00:19:06.710> the<00:19:07.550> Reg<00:19:07.760> happen<00:19:08.270> and 00:19:08.500 --> 00:19:08.510 align:start position:0% places that lay out the Reg happen and 00:19:08.510 --> 00:19:10.060 align:start position:0% places that lay out the Reg happen and that<00:19:08.720> many<00:19:08.900> more<00:19:09.110> damper<00:19:09.560> was<00:19:09.710> to<00:19:09.860> work<00:19:10.010> with 00:19:10.060 --> 00:19:10.070 align:start position:0% that many more damper was to work with 00:19:10.070 --> 00:19:13.240 align:start position:0% that many more damper was to work with the<00:19:10.250> etherium<00:19:11.140> community<00:19:12.140> and<00:19:12.350> convergence 00:19:13.240 --> 00:19:13.250 align:start position:0% the etherium community and convergence 00:19:13.250 --> 00:19:15.640 align:start position:0% the etherium community and convergence on<00:19:13.370> technology<00:19:13.880> brings<00:19:14.720> convergence<00:19:15.470> or 00:19:15.640 --> 00:19:15.650 align:start position:0% on technology brings convergence or 00:19:15.650 --> 00:19:17.590 align:start position:0% on technology brings convergence or profit<00:19:16.100> and<00:19:16.280> social<00:19:16.610> objectives<00:19:16.670> for<00:19:17.450> the 00:19:17.590 --> 00:19:17.600 align:start position:0% profit and social objectives for the 00:19:17.600 --> 00:19:20.380 align:start position:0% profit and social objectives for the first<00:19:17.870> time<00:19:18.170> in<00:19:18.320> history<00:19:18.700> we<00:19:19.700> are<00:19:19.730> not<00:19:19.970> charity 00:19:20.380 --> 00:19:20.390 align:start position:0% first time in history we are not charity 00:19:20.390 --> 00:19:21.940 align:start position:0% first time in history we are not charity we<00:19:20.510> could<00:19:20.690> do<00:19:20.810> that<00:19:20.930> that's<00:19:21.320> why<00:19:21.500> the<00:19:21.560> leap 00:19:21.940 --> 00:19:21.950 align:start position:0% we could do that that's why the leap 00:19:21.950 --> 00:19:24.070 align:start position:0% we could do that that's why the leap frogging<00:19:22.310> economy<00:19:23.090> may<00:19:23.480> have<00:19:23.780> mass 00:19:24.070 --> 00:19:24.080 align:start position:0% frogging economy may have mass 00:19:24.080 --> 00:19:26.560 align:start position:0% frogging economy may have mass absorption<00:19:24.860> before<00:19:25.580> others<00:19:26.000> because<00:19:26.390> there's 00:19:26.560 --> 00:19:26.570 align:start position:0% absorption before others because there's 00:19:26.570 --> 00:19:29.430 align:start position:0% absorption before others because there's no<00:19:26.720> regulation<00:19:27.350> and<00:19:27.590> so<00:19:28.280> on<00:19:28.490> so<00:19:28.910> last<00:19:29.150> slide 00:19:29.430 --> 00:19:29.440 align:start position:0% no regulation and so on so last slide 00:19:29.440 --> 00:19:33.430 align:start position:0% no regulation and so on so last slide the<00:19:30.440> complete<00:19:31.010> we<00:19:31.790> are<00:19:31.820> here<00:19:32.330> to<00:19:32.900> complete<00:19:33.380> a 00:19:33.430 --> 00:19:33.440 align:start position:0% the complete we are here to complete a 00:19:33.440 --> 00:19:36.030 align:start position:0% the complete we are here to complete a system<00:19:33.950> not<00:19:34.130> to<00:19:34.190> compete<00:19:34.670> with<00:19:34.880> existing 00:19:36.030 --> 00:19:36.040 align:start position:0% system not to compete with existing 00:19:36.040 --> 00:19:38.470 align:start position:0% system not to compete with existing organization<00:19:37.040> that<00:19:37.190> the<00:19:37.280> cooperates<00:19:37.850> or<00:19:38.090> the 00:19:38.470 --> 00:19:38.480 align:start position:0% organization that the cooperates or the 00:19:38.480 --> 00:19:42.090 align:start position:0% organization that the cooperates or the government<00:19:38.870> because<00:19:39.340> blockchain<00:19:40.340> will<00:19:41.150> token 00:19:42.090 --> 00:19:42.100 align:start position:0% government because blockchain will token 00:19:42.100 --> 00:19:45.190 align:start position:0% government because blockchain will token incentivize<00:19:43.360> collaboration<00:19:44.360> we<00:19:44.930> are<00:19:45.020> not 00:19:45.190 --> 00:19:45.200 align:start position:0% incentivize collaboration we are not 00:19:45.200 --> 00:19:47.040 align:start position:0% incentivize collaboration we are not talking<00:19:45.410> about<00:19:45.560> production<00:19:46.280> efficiency 00:19:47.040 --> 00:19:47.050 align:start position:0% talking about production efficiency 00:19:47.050 --> 00:19:49.720 align:start position:0% talking about production efficiency making<00:19:48.050> cheaper<00:19:48.500> faster<00:19:48.680> better<00:19:48.920> we<00:19:49.670> are 00:19:49.720 --> 00:19:49.730 align:start position:0% making cheaper faster better we are 00:19:49.730 --> 00:19:51.880 align:start position:0% making cheaper faster better we are talking<00:19:50.090> about<00:19:50.450> collaboration<00:19:50.960> efficiency 00:19:51.880 --> 00:19:51.890 align:start position:0% talking about collaboration efficiency 00:19:51.890 --> 00:19:55.990 align:start position:0% talking about collaboration efficiency and<00:19:52.070> the<00:19:52.160> token<00:19:52.640> itself<00:19:52.990> allows<00:19:53.990> us<00:19:54.490> to<00:19:55.490> allow 00:19:55.990 --> 00:19:56.000 align:start position:0% and the token itself allows us to allow 00:19:56.000 --> 00:19:57.970 align:start position:0% and the token itself allows us to allow our<00:19:56.180> interest<00:19:56.630> and<00:19:56.840> this<00:19:57.260> is<00:19:57.410> important<00:19:57.920> we 00:19:57.970 --> 00:19:57.980 align:start position:0% our interest and this is important we 00:19:57.980 --> 00:20:00.040 align:start position:0% our interest and this is important we are<00:19:58.040> here<00:19:58.220> to<00:19:58.310> complete<00:19:58.790> the<00:19:59.060> ecosystem<00:19:59.960> we 00:20:00.040 --> 00:20:00.050 align:start position:0% are here to complete the ecosystem we 00:20:00.050 --> 00:20:01.060 align:start position:0% are here to complete the ecosystem we are<00:20:00.140> not<00:20:00.260> here<00:20:00.380> to<00:20:00.470> come 00:20:01.060 --> 00:20:01.070 align:start position:0% are not here to come 00:20:01.070 --> 00:20:04.090 align:start position:0% are not here to come we<00:20:01.370> are<00:20:01.460> here<00:20:01.670> to<00:20:01.790> serve<00:20:02.120> not<00:20:02.840> to<00:20:02.900> rue<00:20:03.290> we<00:20:03.920> don't 00:20:04.090 --> 00:20:04.100 align:start position:0% we are here to serve not to rue we don't 00:20:04.100 --> 00:20:05.650 align:start position:0% we are here to serve not to rue we don't make<00:20:04.250> ourselves<00:20:04.400> as<00:20:04.820> the<00:20:04.940> center<00:20:05.330> and<00:20:05.510> this<00:20:05.600> is 00:20:05.650 --> 00:20:05.660 align:start position:0% make ourselves as the center and this is 00:20:05.660 --> 00:20:09.160 align:start position:0% make ourselves as the center and this is important<00:20:06.230> to<00:20:06.410> note<00:20:06.590> that<00:20:06.800> perhaps<00:20:08.170> the 00:20:09.160 --> 00:20:09.170 align:start position:0% important to note that perhaps the 00:20:09.170 --> 00:20:11.850 align:start position:0% important to note that perhaps the manifesto<00:20:09.710> 2.0<00:20:10.430> may<00:20:10.820> have<00:20:11.060> to<00:20:11.210> be<00:20:11.300> rewritten 00:20:11.850 --> 00:20:11.860 align:start position:0% manifesto 2.0 may have to be rewritten 00:20:11.860 --> 00:20:14.920 align:start position:0% manifesto 2.0 may have to be rewritten this<00:20:12.860> is<00:20:13.040> just<00:20:13.220> my<00:20:13.340> view<00:20:13.400> and<00:20:13.850> that's<00:20:14.720> all<00:20:14.840> I 00:20:14.920 --> 00:20:14.930 align:start position:0% this is just my view and that's all I 00:20:14.930 --> 00:20:17.770 align:start position:0% this is just my view and that's all I have<00:20:15.110> for<00:20:15.290> you<00:20:15.440> today<00:20:16.210> thank<00:20:17.210> you<00:20:17.240> very<00:20:17.330> much<00:20:17.630> I 00:20:17.770 --> 00:20:17.780 align:start position:0% have for you today thank you very much I 00:20:17.780 --> 00:20:26.660 align:start position:0% have for you today thank you very much I think<00:20:17.870> I<00:20:18.080> have<00:20:18.170> four<00:20:18.770> minutes<00:20:18.920> for<00:20:19.070> questions 00:20:26.660 --> 00:20:26.670 align:start position:0% 00:20:26.670 --> 00:20:37.590 align:start position:0% [Applause] 00:20:37.590 --> 00:20:37.600 align:start position:0% 00:20:37.600 --> 00:20:48.600 align:start position:0% Oh<00:20:44.640> what<00:20:45.640> is<00:20:45.789> the<00:20:46.919> support<00:20:47.919> for<00:20:47.980> the<00:20:48.250> idea<00:20:48.370> that 00:20:48.600 --> 00:20:48.610 align:start position:0% Oh what is the support for the idea that 00:20:48.610 --> 00:20:52.400 align:start position:0% Oh what is the support for the idea that part<00:20:49.210> of<00:20:49.330> what<00:20:49.539> will<00:20:49.690> help<00:20:49.840> mass<00:20:50.049> adoption<00:20:50.289> is 00:20:52.400 --> 00:20:52.410 align:start position:0% part of what will help mass adoption is 00:20:52.410 --> 00:20:55.080 align:start position:0% part of what will help mass adoption is supporting<00:20:53.410> privacy<00:20:53.919> concerns<00:20:54.309> like<00:20:54.880> I<00:20:54.940> might 00:20:55.080 --> 00:20:55.090 align:start position:0% supporting privacy concerns like I might 00:20:55.090 --> 00:20:57.270 align:start position:0% supporting privacy concerns like I might I<00:20:55.270> know<00:20:55.360> that<00:20:55.600> that's<00:20:55.720> a<00:20:55.929> huge<00:20:56.410> concern<00:20:56.590> here 00:20:57.270 --> 00:20:57.280 align:start position:0% I know that that's a huge concern here 00:20:57.280 --> 00:20:59.490 align:start position:0% I know that that's a huge concern here but<00:20:57.820> I<00:20:57.850> don't<00:20:58.179> get<00:20:58.450> the<00:20:58.600> impression<00:20:58.690> from<00:20:59.289> the 00:20:59.490 --> 00:20:59.500 align:start position:0% but I don't get the impression from the 00:20:59.500 --> 00:21:01.980 align:start position:0% but I don't get the impression from the way<00:20:59.620> people<00:20:59.830> currently<00:21:00.250> use<00:21:00.660> the<00:21:01.660> internet 00:21:01.980 --> 00:21:01.990 align:start position:0% way people currently use the internet 00:21:01.990 --> 00:21:05.220 align:start position:0% way people currently use the internet that<00:21:02.140> that<00:21:02.289> is<00:21:02.440> the<00:21:03.210> concern<00:21:04.210> of<00:21:04.240> many<00:21:04.900> people 00:21:05.220 --> 00:21:05.230 align:start position:0% that that is the concern of many people 00:21:05.230 --> 00:21:06.720 align:start position:0% that that is the concern of many people of<00:21:05.320> course<00:21:05.470> that<00:21:05.620> might<00:21:05.770> be<00:21:05.890> my<00:21:06.070> view<00:21:06.400> coming 00:21:06.720 --> 00:21:06.730 align:start position:0% of course that might be my view coming 00:21:06.730 --> 00:21:10.350 align:start position:0% of course that might be my view coming from<00:21:06.940> certain<00:21:07.870> Western<00:21:08.530> places<00:21:09.130> I<00:21:09.360> think 00:21:10.350 --> 00:21:10.360 align:start position:0% from certain Western places I think 00:21:10.360 --> 00:21:12.360 align:start position:0% from certain Western places I think there's<00:21:10.539> a<00:21:10.659> key<00:21:10.929> today's<00:21:11.320> all<00:21:11.830> about<00:21:11.860> privacy 00:21:12.360 --> 00:21:12.370 align:start position:0% there's a key today's all about privacy 00:21:12.370 --> 00:21:14.610 align:start position:0% there's a key today's all about privacy protection<00:21:12.970> and<00:21:13.539> high<00:21:13.750> exercises<00:21:14.470> about 00:21:14.610 --> 00:21:14.620 align:start position:0% protection and high exercises about 00:21:14.620 --> 00:21:17.250 align:start position:0% protection and high exercises about privacy<00:21:14.919> protection<00:21:15.549> and<00:21:15.990> the<00:21:16.990> entire 00:21:17.250 --> 00:21:17.260 align:start position:0% privacy protection and the entire 00:21:17.260 --> 00:21:18.779 align:start position:0% privacy protection and the entire society<00:21:17.770> is<00:21:17.860> about<00:21:18.010> having<00:21:18.490> independent 00:21:18.779 --> 00:21:18.789 align:start position:0% society is about having independent 00:21:18.789 --> 00:21:21.060 align:start position:0% society is about having independent decision<00:21:19.450> so<00:21:19.929> every<00:21:20.289> notes<00:21:20.559> a<00:21:20.799> blockchain 00:21:21.060 --> 00:21:21.070 align:start position:0% decision so every notes a blockchain 00:21:21.070 --> 00:21:23.340 align:start position:0% decision so every notes a blockchain every<00:21:21.940> single<00:21:22.240> individual<00:21:22.630> for<00:21:22.870> their<00:21:22.960> own 00:21:23.340 --> 00:21:23.350 align:start position:0% every single individual for their own 00:21:23.350 --> 00:21:26.010 align:start position:0% every single individual for their own human<00:21:24.220> dignity<00:21:24.400> we<00:21:25.090> must<00:21:25.390> have<00:21:25.659> our<00:21:25.690> own 00:21:26.010 --> 00:21:26.020 align:start position:0% human dignity we must have our own 00:21:26.020 --> 00:21:28.590 align:start position:0% human dignity we must have our own independent<00:21:26.650> decisions<00:21:27.070> and<00:21:27.360> we<00:21:28.360> have<00:21:28.510> to 00:21:28.590 --> 00:21:28.600 align:start position:0% independent decisions and we have to 00:21:28.600 --> 00:21:30.299 align:start position:0% independent decisions and we have to ensure<00:21:28.900> that<00:21:28.929> by<00:21:29.169> having<00:21:29.380> privacy<00:21:29.830> protection 00:21:30.299 --> 00:21:30.309 align:start position:0% ensure that by having privacy protection 00:21:30.309 --> 00:21:33.720 align:start position:0% ensure that by having privacy protection so<00:21:30.880> it's<00:21:31.360> very<00:21:31.539> important<00:21:32.080> to<00:21:32.320> focus<00:21:32.559> on<00:21:33.100> a<00:21:33.159> lot 00:21:33.720 --> 00:21:33.730 align:start position:0% so it's very important to focus on a lot 00:21:33.730 --> 00:21:35.399 align:start position:0% so it's very important to focus on a lot of<00:21:33.789> I<00:21:34.150> think<00:21:34.510> the<00:21:34.570> last<00:21:34.690> few<00:21:34.809> days<00:21:35.049> we<00:21:35.200> talk<00:21:35.380> a 00:21:35.399 --> 00:21:35.409 align:start position:0% of I think the last few days we talk a 00:21:35.409 --> 00:21:38.340 align:start position:0% of I think the last few days we talk a lot<00:21:35.679> about<00:21:36.390> combination<00:21:37.390> or<00:21:37.510> AI<00:21:37.780> and 00:21:38.340 --> 00:21:38.350 align:start position:0% lot about combination or AI and 00:21:38.350 --> 00:21:40.830 align:start position:0% lot about combination or AI and blockchain<00:21:38.890> so<00:21:39.429> that<00:21:39.580> we<00:21:39.640> can<00:21:39.789> do<00:21:40.000> a<00:21:40.240> lot<00:21:40.720> of 00:21:40.830 --> 00:21:40.840 align:start position:0% blockchain so that we can do a lot of 00:21:40.840 --> 00:21:43.140 align:start position:0% blockchain so that we can do a lot of analysis<00:21:41.380> without<00:21:41.919> actually<00:21:42.490> knowing<00:21:42.760> what 00:21:43.140 --> 00:21:43.150 align:start position:0% analysis without actually knowing what 00:21:43.150 --> 00:21:45.570 align:start position:0% analysis without actually knowing what is<00:21:43.600> the<00:21:43.750> metadata<00:21:44.380> and<00:21:44.590> the<00:21:44.770> rotator<00:21:45.159> itself 00:21:45.570 --> 00:21:45.580 align:start position:0% is the metadata and the rotator itself 00:21:45.580 --> 00:21:47.190 align:start position:0% is the metadata and the rotator itself so<00:21:46.120> I<00:21:46.150> agree<00:21:46.570> with<00:21:46.750> you<00:21:46.840> that<00:21:46.870> this<00:21:47.140> is 00:21:47.190 --> 00:21:47.200 align:start position:0% so I agree with you that this is 00:21:47.200 --> 00:21:49.080 align:start position:0% so I agree with you that this is something<00:21:47.409> we<00:21:47.650> need<00:21:47.770> to<00:21:47.830> do<00:21:48.039> and<00:21:48.220> is<00:21:48.520> important 00:21:49.080 --> 00:21:49.090 align:start position:0% something we need to do and is important 00:21:49.090 --> 00:21:51.330 align:start position:0% something we need to do and is important to<00:21:49.330> work<00:21:49.600> with<00:21:49.630> government<00:21:50.350> that<00:21:50.890> willing<00:21:51.250> to 00:21:51.330 --> 00:21:51.340 align:start position:0% to work with government that willing to 00:21:51.340 --> 00:21:53.720 align:start position:0% to work with government that willing to diminish<00:21:51.730> themselves<00:21:52.270> so<00:21:52.840> that<00:21:53.080> allowing 00:21:53.720 --> 00:21:53.730 align:start position:0% diminish themselves so that allowing 00:21:53.730 --> 00:21:55.919 align:start position:0% diminish themselves so that allowing individual<00:21:54.730> to<00:21:54.850> have<00:21:55.030> their<00:21:55.179> own<00:21:55.270> privacy<00:21:55.600> and 00:21:55.919 --> 00:21:55.929 align:start position:0% individual to have their own privacy and 00:21:55.929 --> 00:21:59.520 align:start position:0% individual to have their own privacy and this<00:21:56.770> is<00:21:56.919> this<00:21:57.159> is<00:21:57.309> key<00:21:57.580> to<00:21:57.929> the<00:21:58.929> entire 00:21:59.520 --> 00:21:59.530 align:start position:0% this is this is key to the entire 00:21:59.530 --> 00:22:01.140 align:start position:0% this is this is key to the entire exercise<00:21:59.890> and<00:22:00.340> what<00:22:00.520> we<00:22:00.640> are<00:22:00.730> talking<00:22:01.090> about 00:22:01.140 --> 00:22:01.150 align:start position:0% exercise and what we are talking about 00:22:01.150 --> 00:22:04.820 align:start position:0% exercise and what we are talking about here<00:22:01.890> perhaps<00:22:02.890> I<00:22:02.950> can<00:22:03.010> bring<00:22:03.190> it<00:22:03.370> out<00:22:03.970> rightly 00:22:04.820 --> 00:22:04.830 align:start position:0% here perhaps I can bring it out rightly 00:22:04.830 --> 00:22:08.340 align:start position:0% here perhaps I can bring it out rightly is<00:22:05.830> exactly<00:22:06.280> what<00:22:06.520> what<00:22:06.820> it<00:22:06.970> is<00:22:07.150> about<00:22:07.809> privacy 00:22:08.340 --> 00:22:08.350 align:start position:0% is exactly what what it is about privacy 00:22:08.350 --> 00:22:09.840 align:start position:0% is exactly what what it is about privacy protection<00:22:08.799> not<00:22:09.010> only<00:22:09.070> about<00:22:09.610> privacy 00:22:09.840 --> 00:22:09.850 align:start position:0% protection not only about privacy 00:22:09.850 --> 00:22:11.820 align:start position:0% protection not only about privacy protection<00:22:10.360> but<00:22:10.780> also<00:22:10.809> a<00:22:11.110> lot<00:22:11.350> more<00:22:11.500> data<00:22:11.679> that 00:22:11.820 --> 00:22:11.830 align:start position:0% protection but also a lot more data that 00:22:11.830 --> 00:22:13.250 align:start position:0% protection but also a lot more data that we<00:22:12.039> have<00:22:12.220> yeah 00:22:13.250 --> 00:22:13.260 align:start position:0% we have yeah 00:22:13.260 --> 00:22:19.430 align:start position:0% we have yeah there's<00:22:14.260> no<00:22:14.320> more<00:22:14.470> question<00:22:14.770> there 00:22:19.430 --> 00:22:19.440 align:start position:0% 00:22:19.440 --> 00:22:24.950 align:start position:0% hello<00:22:20.840> so<00:22:21.840> I<00:22:22.500> am<00:22:23.330> when<00:22:24.330> it<00:22:24.450> when<00:22:24.570> it<00:22:24.660> comes<00:22:24.750> to 00:22:24.950 --> 00:22:24.960 align:start position:0% hello so I am when it when it comes to 00:22:24.960 --> 00:22:27.200 align:start position:0% hello so I am when it when it comes to sort<00:22:25.230> of<00:22:25.290> development<00:22:25.980> initiatives<00:22:26.460> and<00:22:26.730> and 00:22:27.200 --> 00:22:27.210 align:start position:0% sort of development initiatives and and 00:22:27.210 --> 00:22:30.440 align:start position:0% sort of development initiatives and and tech<00:22:27.420> stuff<00:22:28.080> helping<00:22:28.620> development<00:22:29.100> I<00:22:29.330> tend<00:22:30.330> to 00:22:30.440 --> 00:22:30.450 align:start position:0% tech stuff helping development I tend to 00:22:30.450 --> 00:22:32.780 align:start position:0% tech stuff helping development I tend to be<00:22:30.660> on<00:22:30.900> the<00:22:30.930> cynical<00:22:31.500> side<00:22:31.740> and<00:22:32.250> I<00:22:32.640> think 00:22:32.780 --> 00:22:32.790 align:start position:0% be on the cynical side and I think 00:22:32.790 --> 00:22:34.850 align:start position:0% be on the cynical side and I think that's<00:22:32.940> kind<00:22:33.420> of<00:22:33.450> an<00:22:33.570> important<00:22:34.110> thing<00:22:34.170> to<00:22:34.680> do 00:22:34.850 --> 00:22:34.860 align:start position:0% that's kind of an important thing to do 00:22:34.860 --> 00:22:39.080 align:start position:0% that's kind of an important thing to do is<00:22:35.280> is<00:22:36.140> think<00:22:37.140> about<00:22:37.230> the<00:22:37.530> risks<00:22:37.980> and<00:22:38.190> think 00:22:39.080 --> 00:22:39.090 align:start position:0% is is think about the risks and think 00:22:39.090 --> 00:22:40.700 align:start position:0% is is think about the risks and think about<00:22:39.270> but<00:22:39.420> what<00:22:39.660> can<00:22:39.900> go<00:22:40.050> wrong<00:22:40.230> and<00:22:40.290> what<00:22:40.590> can 00:22:40.700 --> 00:22:40.710 align:start position:0% about but what can go wrong and what can 00:22:40.710 --> 00:22:43.970 align:start position:0% about but what can go wrong and what can go<00:22:40.800> bad<00:22:40.980> and<00:22:41.220> and<00:22:41.430> if<00:22:41.610> you've<00:22:41.790> seen<00:22:42.980> Zuckerberg 00:22:43.970 --> 00:22:43.980 align:start position:0% go bad and and if you've seen Zuckerberg 00:22:43.980 --> 00:22:47.660 align:start position:0% go bad and and if you've seen Zuckerberg testifying<00:22:45.980> everybody<00:22:46.980> sort<00:22:47.220> of<00:22:47.280> watch<00:22:47.460> this 00:22:47.660 --> 00:22:47.670 align:start position:0% testifying everybody sort of watch this 00:22:47.670 --> 00:22:50.240 align:start position:0% testifying everybody sort of watch this and<00:22:48.000> and<00:22:48.810> Myanmar<00:22:49.410> was<00:22:49.530> referenced<00:22:50.040> many 00:22:50.240 --> 00:22:50.250 align:start position:0% and and Myanmar was referenced many 00:22:50.250 --> 00:22:52.550 align:start position:0% and and Myanmar was referenced many times<00:22:50.550> and<00:22:51.000> the<00:22:51.090> adoption<00:22:51.690> the<00:22:52.050> mass<00:22:52.230> adoption 00:22:52.550 --> 00:22:52.560 align:start position:0% times and the adoption the mass adoption 00:22:52.560 --> 00:22:54.410 align:start position:0% times and the adoption the mass adoption the<00:22:52.950> really<00:22:53.490> quick<00:22:53.730> and<00:22:53.940> I<00:22:54.000> think<00:22:54.180> what<00:22:54.300> you're 00:22:54.410 --> 00:22:54.420 align:start position:0% the really quick and I think what you're 00:22:54.420 --> 00:22:56.510 align:start position:0% the really quick and I think what you're talking<00:22:54.720> about<00:22:54.750> is<00:22:54.960> true<00:22:55.230> is<00:22:55.440> in<00:22:56.100> in<00:22:56.400> these 00:22:56.510 --> 00:22:56.520 align:start position:0% talking about is true is in in these 00:22:56.520 --> 00:22:58.430 align:start position:0% talking about is true is in in these greenfield<00:22:57.030> markets<00:22:57.420> people<00:22:58.110> will<00:22:58.230> adopt 00:22:58.430 --> 00:22:58.440 align:start position:0% greenfield markets people will adopt 00:22:58.440 --> 00:23:00.830 align:start position:0% greenfield markets people will adopt something<00:22:58.680> very<00:22:59.010> very<00:22:59.160> quickly<00:22:59.600> when<00:23:00.600> that 00:23:00.830 --> 00:23:00.840 align:start position:0% something very very quickly when that 00:23:00.840 --> 00:23:02.780 align:start position:0% something very very quickly when that happens<00:23:01.260> I<00:23:01.530> want<00:23:01.680> to<00:23:01.890> know<00:23:02.070> for<00:23:02.550> in<00:23:02.640> your 00:23:02.780 --> 00:23:02.790 align:start position:0% happens I want to know for in your 00:23:02.790 --> 00:23:04.700 align:start position:0% happens I want to know for in your opinion<00:23:03.180> and<00:23:03.360> that<00:23:03.480> perhaps<00:23:04.020> maybe<00:23:04.440> in<00:23:04.620> the 00:23:04.700 --> 00:23:04.710 align:start position:0% opinion and that perhaps maybe in the 00:23:04.710 --> 00:23:08.420 align:start position:0% opinion and that perhaps maybe in the context<00:23:05.190> of<00:23:05.250> hacia<00:23:05.610> and<00:23:06.680> what<00:23:07.680> are<00:23:07.800> the<00:23:07.920> big 00:23:08.420 --> 00:23:08.430 align:start position:0% context of hacia and what are the big 00:23:08.430 --> 00:23:10.790 align:start position:0% context of hacia and what are the big risks<00:23:08.970> wherever<00:23:09.330> where<00:23:09.720> the<00:23:09.930> risk<00:23:10.140> points<00:23:10.620> I 00:23:10.790 --> 00:23:10.800 align:start position:0% risks wherever where the risk points I 00:23:10.800 --> 00:23:12.500 align:start position:0% risks wherever where the risk points I think<00:23:11.190> financial<00:23:11.370> literacy<00:23:11.820> is<00:23:12.000> one<00:23:12.300> of<00:23:12.420> the 00:23:12.500 --> 00:23:12.510 align:start position:0% think financial literacy is one of the 00:23:12.510 --> 00:23:14.000 align:start position:0% think financial literacy is one of the most<00:23:12.660> important<00:23:13.140> thing<00:23:13.260> and<00:23:13.440> also<00:23:13.710> privacy 00:23:14.000 --> 00:23:14.010 align:start position:0% most important thing and also privacy 00:23:14.010 --> 00:23:16.160 align:start position:0% most important thing and also privacy protection<00:23:14.850> literacy<00:23:15.240> which<00:23:15.750> very<00:23:15.990> few 00:23:16.160 --> 00:23:16.170 align:start position:0% protection literacy which very few 00:23:16.170 --> 00:23:17.960 align:start position:0% protection literacy which very few people<00:23:16.320> talk<00:23:16.560> about<00:23:16.710> and<00:23:17.220> I<00:23:17.430> totally<00:23:17.670> agree 00:23:17.960 --> 00:23:17.970 align:start position:0% people talk about and I totally agree 00:23:17.970 --> 00:23:20.540 align:start position:0% people talk about and I totally agree with<00:23:18.210> you<00:23:18.600> that<00:23:18.660> we<00:23:19.140> have<00:23:19.560> to<00:23:19.680> be<00:23:19.770> very<00:23:20.010> careful 00:23:20.540 --> 00:23:20.550 align:start position:0% with you that we have to be very careful 00:23:20.550 --> 00:23:24.110 align:start position:0% with you that we have to be very careful because<00:23:21.440> technology<00:23:22.440> is<00:23:22.590> actually<00:23:23.120> neutral 00:23:24.110 --> 00:23:24.120 align:start position:0% because technology is actually neutral 00:23:24.120 --> 00:23:25.970 align:start position:0% because technology is actually neutral even<00:23:24.960> though<00:23:25.080> blockchain<00:23:25.500> is<00:23:25.650> a<00:23:25.680> little<00:23:25.860> bit 00:23:25.970 --> 00:23:25.980 align:start position:0% even though blockchain is a little bit 00:23:25.980 --> 00:23:28.910 align:start position:0% even though blockchain is a little bit more<00:23:26.160> for<00:23:26.340> the<00:23:26.430> weak<00:23:26.850> for<00:23:27.390> the<00:23:27.480> small<00:23:27.830> for<00:23:28.830> the 00:23:28.910 --> 00:23:28.920 align:start position:0% more for the weak for the small for the 00:23:28.920 --> 00:23:32.150 align:start position:0% more for the weak for the small for the neglected<00:23:29.460> but<00:23:30.020> it's<00:23:31.020> about<00:23:31.230> human<00:23:31.680> the<00:23:31.800> human 00:23:32.150 --> 00:23:32.160 align:start position:0% neglected but it's about human the human 00:23:32.160 --> 00:23:35.120 align:start position:0% neglected but it's about human the human itself<00:23:32.580> that<00:23:32.910> can<00:23:33.120> misuse<00:23:33.960> the<00:23:34.560> technology<00:23:35.100> I 00:23:35.120 --> 00:23:35.130 align:start position:0% itself that can misuse the technology I 00:23:35.130 --> 00:23:37.160 align:start position:0% itself that can misuse the technology I mean<00:23:35.370> we<00:23:35.490> don't<00:23:35.640> have<00:23:35.790> the<00:23:36.000> wisdom<00:23:36.210> we<00:23:36.990> could 00:23:37.160 --> 00:23:37.170 align:start position:0% mean we don't have the wisdom we could 00:23:37.170 --> 00:23:39.560 align:start position:0% mean we don't have the wisdom we could destroy<00:23:37.770> the<00:23:37.890> entire<00:23:37.920> human<00:23:38.700> race<00:23:38.760> and<00:23:39.150> that's 00:23:39.560 --> 00:23:39.570 align:start position:0% destroy the entire human race and that's 00:23:39.570 --> 00:23:41.990 align:start position:0% destroy the entire human race and that's the<00:23:39.750> fear<00:23:40.020> that<00:23:40.050> we<00:23:40.770> all<00:23:40.920> have<00:23:41.160> with<00:23:41.370> AI<00:23:41.640> and 00:23:41.990 --> 00:23:42.000 align:start position:0% the fear that we all have with AI and 00:23:42.000 --> 00:23:43.460 align:start position:0% the fear that we all have with AI and the<00:23:42.120> rest<00:23:42.330> and<00:23:42.510> not<00:23:42.600> so<00:23:42.750> much<00:23:42.870> with<00:23:43.050> blockchain 00:23:43.460 --> 00:23:43.470 align:start position:0% the rest and not so much with blockchain 00:23:43.470 --> 00:23:46.280 align:start position:0% the rest and not so much with blockchain but<00:23:44.160> still<00:23:44.790> we<00:23:45.000> have<00:23:45.120> to<00:23:45.210> be<00:23:45.300> very<00:23:45.480> careful<00:23:45.900> and 00:23:46.280 --> 00:23:46.290 align:start position:0% but still we have to be very careful and 00:23:46.290 --> 00:23:48.350 align:start position:0% but still we have to be very careful and what<00:23:46.710> you<00:23:46.830> say<00:23:46.980> is<00:23:47.100> correct<00:23:47.340> but<00:23:47.820> I<00:23:47.880> see<00:23:48.150> new 00:23:48.350 --> 00:23:48.360 align:start position:0% what you say is correct but I see new 00:23:48.360 --> 00:23:50.540 align:start position:0% what you say is correct but I see new business<00:23:48.720> model<00:23:49.110> coming<00:23:49.380> out<00:23:49.500> that<00:23:50.250> people 00:23:50.540 --> 00:23:50.550 align:start position:0% business model coming out that people 00:23:50.550 --> 00:23:52.700 align:start position:0% business model coming out that people who<00:23:50.790> are<00:23:50.940> not<00:23:51.120> privacy<00:23:51.690> protect<00:23:52.320> back 00:23:52.700 --> 00:23:52.710 align:start position:0% who are not privacy protect back 00:23:52.710 --> 00:23:56.020 align:start position:0% who are not privacy protect back protection<00:23:53.330> literary<00:23:54.330> or<00:23:54.840> financially<00:23:55.620> trade 00:23:56.020 --> 00:23:56.030 align:start position:0% protection literary or financially trade 00:23:56.030 --> 00:23:58.520 align:start position:0% protection literary or financially trade there<00:23:57.030> are<00:23:57.120> new<00:23:57.270> business<00:23:57.570> model<00:23:57.960> that<00:23:57.990> we<00:23:58.230> can 00:23:58.520 --> 00:23:58.530 align:start position:0% there are new business model that we can 00:23:58.530 --> 00:24:01.640 align:start position:0% there are new business model that we can help<00:23:58.860> them<00:23:59.040> to<00:23:59.790> ensure<00:23:59.940> that<00:24:00.270> again<00:24:01.260> we<00:24:01.470> have<00:24:01.590> a 00:24:01.640 --> 00:24:01.650 align:start position:0% help them to ensure that again we have a 00:24:01.650 --> 00:24:04.760 align:start position:0% help them to ensure that again we have a trusted<00:24:02.130> third<00:24:02.310> party<00:24:02.700> and<00:24:02.880> how<00:24:03.780> do<00:24:03.840> we<00:24:04.050> these 00:24:04.760 --> 00:24:04.770 align:start position:0% trusted third party and how do we these 00:24:04.770 --> 00:24:07.400 align:start position:0% trusted third party and how do we these and<00:24:05.070> tries<00:24:05.340> or<00:24:05.670> these<00:24:05.880> distribute<00:24:06.870> the<00:24:07.050> trust 00:24:07.400 --> 00:24:07.410 align:start position:0% and tries or these distribute the trust 00:24:07.410 --> 00:24:09.860 align:start position:0% and tries or these distribute the trust of<00:24:07.620> this<00:24:07.830> trusted<00:24:08.760> third<00:24:08.940> party<00:24:09.270> new<00:24:09.510> model 00:24:09.860 --> 00:24:09.870 align:start position:0% of this trusted third party new model 00:24:09.870 --> 00:24:12.440 align:start position:0% of this trusted third party new model that<00:24:09.990> actually<00:24:10.730> protect<00:24:11.730> the<00:24:11.850> private<00:24:12.210> keys 00:24:12.440 --> 00:24:12.450 align:start position:0% that actually protect the private keys 00:24:12.450 --> 00:24:15.230 align:start position:0% that actually protect the private keys or<00:24:12.900> protect<00:24:13.500> their<00:24:13.620> own<00:24:13.650> human<00:24:14.430> dignity<00:24:14.550> we 00:24:15.230 --> 00:24:15.240 align:start position:0% or protect their own human dignity we 00:24:15.240 --> 00:24:16.820 align:start position:0% or protect their own human dignity we need<00:24:15.420> to<00:24:15.540> think<00:24:15.690> deeper<00:24:16.170> and<00:24:16.320> this<00:24:16.410> is<00:24:16.590> what 00:24:16.820 --> 00:24:16.830 align:start position:0% need to think deeper and this is what 00:24:16.830 --> 00:24:19.610 align:start position:0% need to think deeper and this is what I'm<00:24:17.250> here<00:24:17.820> today<00:24:18.030> for<00:24:18.150> to<00:24:18.660> trigger<00:24:19.350> the 00:24:19.610 --> 00:24:19.620 align:start position:0% I'm here today for to trigger the 00:24:19.620 --> 00:24:22.370 align:start position:0% I'm here today for to trigger the thinking<00:24:20.040> about<00:24:20.370> we<00:24:21.090> need<00:24:21.300> to<00:24:21.480> continuously 00:24:22.370 --> 00:24:22.380 align:start position:0% thinking about we need to continuously 00:24:22.380 --> 00:24:26.390 align:start position:0% thinking about we need to continuously dis<00:24:22.860> real<00:24:23.220> trust<00:24:23.970> we<00:24:24.600> should<00:24:24.780> never<00:24:24.960> stop<00:24:25.400> we 00:24:26.390 --> 00:24:26.400 align:start position:0% dis real trust we should never stop we 00:24:26.400 --> 00:24:27.830 align:start position:0% dis real trust we should never stop we should<00:24:26.580> never<00:24:26.670> stop<00:24:26.820> and<00:24:27.240> we<00:24:27.300> should<00:24:27.510> continue 00:24:27.830 --> 00:24:27.840 align:start position:0% should never stop and we should continue 00:24:27.840 --> 00:24:30.410 align:start position:0% should never stop and we should continue to<00:24:28.050> not<00:24:28.500> to<00:24:29.070> trust<00:24:29.340> the<00:24:29.490> third<00:24:29.700> party<00:24:30.060> but<00:24:30.270> we 00:24:30.410 --> 00:24:30.420 align:start position:0% to not to trust the third party but we 00:24:30.420 --> 00:24:33.240 align:start position:0% to not to trust the third party but we cannot<00:24:30.750> avoid<00:24:31.050> it<00:24:31.110> it<00:24:31.740> is<00:24:31.920> a<00:24:31.950> process<00:24:32.280> that<00:24:32.490> we 00:24:33.240 --> 00:24:33.250 align:start position:0% cannot avoid it it is a process that we 00:24:33.250 --> 00:24:35.340 align:start position:0% cannot avoid it it is a process that we have<00:24:33.340> to<00:24:33.490> trust<00:24:33.760> the<00:24:33.910> first<00:24:34.120> party<00:24:34.540> just<00:24:35.110> like 00:24:35.340 --> 00:24:35.350 align:start position:0% have to trust the first party just like 00:24:35.350 --> 00:24:37.790 align:start position:0% have to trust the first party just like there<00:24:36.070> were<00:24:36.160> only<00:24:36.340> two<00:24:36.640> people<00:24:36.670> mining 00:24:37.790 --> 00:24:37.800 align:start position:0% there were only two people mining 00:24:37.800 --> 00:24:42.030 align:start position:0% there were only two people mining Bitcoin<00:24:39.690> ten<00:24:40.690> years<00:24:40.870> ago<00:24:41.050> ever<00:24:41.380> started<00:24:41.800> just 00:24:42.030 --> 00:24:42.040 align:start position:0% Bitcoin ten years ago ever started just 00:24:42.040 --> 00:24:43.830 align:start position:0% Bitcoin ten years ago ever started just hey<00:24:42.250> oh<00:24:42.280> and<00:24:42.640> and<00:24:43.180> Satoshi 00:24:43.830 --> 00:24:43.840 align:start position:0% hey oh and and Satoshi 00:24:43.840 --> 00:24:46.740 align:start position:0% hey oh and and Satoshi so<00:24:44.440> they<00:24:44.620> started<00:24:45.010> as<00:24:45.130> a<00:24:45.160> centralized<00:24:45.750> Bitcoin 00:24:46.740 --> 00:24:46.750 align:start position:0% so they started as a centralized Bitcoin 00:24:46.750 --> 00:24:48.180 align:start position:0% so they started as a centralized Bitcoin and<00:24:46.990> then<00:24:47.650> it<00:24:47.800> start<00:24:48.010> to<00:24:48.100> become 00:24:48.180 --> 00:24:48.190 align:start position:0% and then it start to become 00:24:48.190 --> 00:24:49.980 align:start position:0% and then it start to become decentralized<00:24:49.030> but<00:24:49.390> it<00:24:49.510> has<00:24:49.660> to<00:24:49.750> be<00:24:49.810> the 00:24:49.980 --> 00:24:49.990 align:start position:0% decentralized but it has to be the 00:24:49.990 --> 00:24:51.660 align:start position:0% decentralized but it has to be the continuous<00:24:50.470> process<00:24:50.650> so<00:24:51.280> we<00:24:51.400> need<00:24:51.550> to 00:24:51.660 --> 00:24:51.670 align:start position:0% continuous process so we need to 00:24:51.670 --> 00:24:53.700 align:start position:0% continuous process so we need to continuously<00:24:52.150> to<00:24:52.450> remind<00:24:52.840> us<00:24:52.990> in<00:24:53.260> our<00:24:53.380> design 00:24:53.700 --> 00:24:53.710 align:start position:0% continuously to remind us in our design 00:24:53.710 --> 00:24:55.920 align:start position:0% continuously to remind us in our design thinking<00:24:54.160> whatever<00:24:54.760> you<00:24:55.060> design<00:24:55.480> whether<00:24:55.750> is 00:24:55.920 --> 00:24:55.930 align:start position:0% thinking whatever you design whether is 00:24:55.930 --> 00:24:59.820 align:start position:0% thinking whatever you design whether is and<00:24:56.230> clave<00:24:56.610> for<00:24:57.810> encrypted<00:24:58.810> data<00:24:59.020> that<00:24:59.710> we 00:24:59.820 --> 00:24:59.830 align:start position:0% and clave for encrypted data that we 00:24:59.830 --> 00:25:02.730 align:start position:0% and clave for encrypted data that we draw<00:25:00.040> out<00:25:00.220> or<00:25:00.460> wherever<00:25:00.940> or<00:25:01.540> is<00:25:01.750> that<00:25:01.900> Oracle 00:25:02.730 --> 00:25:02.740 align:start position:0% draw out or wherever or is that Oracle 00:25:02.740 --> 00:25:04.680 align:start position:0% draw out or wherever or is that Oracle which<00:25:02.890> is<00:25:03.010> decentralized<00:25:03.700> we<00:25:04.120> make<00:25:04.420> sure<00:25:04.660> that 00:25:04.680 --> 00:25:04.690 align:start position:0% which is decentralized we make sure that 00:25:04.690 --> 00:25:07.460 align:start position:0% which is decentralized we make sure that we<00:25:05.200> have<00:25:05.590> this<00:25:05.800> effort<00:25:06.190> of<00:25:06.420> continuously 00:25:07.460 --> 00:25:07.470 align:start position:0% we have this effort of continuously 00:25:07.470 --> 00:25:10.830 align:start position:0% we have this effort of continuously distributing<00:25:08.470> trust<00:25:09.030> non-stop<00:25:10.030> and<00:25:10.300> that's 00:25:10.830 --> 00:25:10.840 align:start position:0% distributing trust non-stop and that's 00:25:10.840 --> 00:25:12.830 align:start position:0% distributing trust non-stop and that's the<00:25:10.960> only<00:25:11.260> way<00:25:11.380> we<00:25:11.500> can<00:25:11.680> protect<00:25:11.830> ourselves<00:25:12.100> I 00:25:12.830 --> 00:25:12.840 align:start position:0% the only way we can protect ourselves I 00:25:12.840 --> 00:25:14.760 align:start position:0% the only way we can protect ourselves I don't<00:25:13.840> know<00:25:13.900> whether<00:25:13.990> answer<00:25:14.290> my<00:25:14.380> question 00:25:14.760 --> 00:25:14.770 align:start position:0% don't know whether answer my question 00:25:14.770 --> 00:25:28.280 align:start position:0% don't know whether answer my question yeah<00:25:16.440> okay<00:25:17.440> thank<00:25:17.740> you<00:25:17.830> very<00:25:17.950> much<00:25:18.160> thank<00:25:18.670> you 00:25:28.280 --> 00:25:28.290 align:start position:0% 00:25:28.290 --> 00:25:30.350 align:start position:0% you