WEBVTT Kind: captions Language: en 00:00:00.540 --> 00:00:17.430 align:start position:0% [Music] 00:00:17.430 --> 00:00:17.440 align:start position:0% [Music] 00:00:17.440 --> 00:00:19.380 align:start position:0% [Music] Thank<00:00:18.440> You<00:00:18.560> Ming 00:00:19.380 --> 00:00:19.390 align:start position:0% Thank You Ming 00:00:19.390 --> 00:00:24.040 align:start position:0% Thank You Ming by<00:00:20.390> the<00:00:20.450> way<00:00:20.600> good<00:00:20.840> morning<00:00:21.170> DEFCON<00:00:21.590> 2<00:00:22.220> ah<00:00:22.720> nice 00:00:24.040 --> 00:00:24.050 align:start position:0% by the way good morning DEFCON 2 ah nice 00:00:24.050 --> 00:00:26.410 align:start position:0% by the way good morning DEFCON 2 ah nice I<00:00:24.250> think<00:00:25.250> developer<00:00:25.580> conferences<00:00:26.029> are<00:00:26.210> always 00:00:26.410 --> 00:00:26.420 align:start position:0% I think developer conferences are always 00:00:26.420 --> 00:00:27.970 align:start position:0% I think developer conferences are always a<00:00:26.450> little<00:00:26.779> bit<00:00:26.869> more<00:00:27.020> fun<00:00:27.260> than<00:00:27.470> business 00:00:27.970 --> 00:00:27.980 align:start position:0% a little bit more fun than business 00:00:27.980 --> 00:00:30.519 align:start position:0% a little bit more fun than business oriented<00:00:28.550> conferences<00:00:29.270> right<00:00:29.510> but<00:00:30.260> the 00:00:30.519 --> 00:00:30.529 align:start position:0% oriented conferences right but the 00:00:30.529 --> 00:00:31.749 align:start position:0% oriented conferences right but the participation<00:00:31.009> from<00:00:31.250> the<00:00:31.310> audience<00:00:31.610> always 00:00:31.749 --> 00:00:31.759 align:start position:0% participation from the audience always 00:00:31.759 --> 00:00:35.170 align:start position:0% participation from the audience always fantastic<00:00:32.570> excellent<00:00:33.590> so<00:00:34.100> I'm<00:00:34.370> my<00:00:35.000> name<00:00:35.030> is 00:00:35.170 --> 00:00:35.180 align:start position:0% fantastic excellent so I'm my name is 00:00:35.180 --> 00:00:37.810 align:start position:0% fantastic excellent so I'm my name is mano<00:00:35.450> I'm<00:00:35.660> from<00:00:35.810> autonomous<00:00:36.610> we're<00:00:37.610> in<00:00:37.730> the 00:00:37.810 --> 00:00:37.820 align:start position:0% mano I'm from autonomous we're in the 00:00:37.820 --> 00:00:40.930 align:start position:0% mano I'm from autonomous we're in the business<00:00:37.970> of<00:00:38.620> incorporating<00:00:39.620> companies<00:00:39.950> but 00:00:40.930 --> 00:00:40.940 align:start position:0% business of incorporating companies but 00:00:40.940 --> 00:00:44.440 align:start position:0% business of incorporating companies but I'll<00:00:41.090> use<00:00:41.360> the<00:00:41.480> analogy<00:00:41.840> of<00:00:41.989> the<00:00:42.500> starship<00:00:43.489> USS 00:00:44.440 --> 00:00:44.450 align:start position:0% I'll use the analogy of the starship USS 00:00:44.450 --> 00:00:47.620 align:start position:0% I'll use the analogy of the starship USS Enterprise<00:00:45.790> blueprint<00:00:46.790> that<00:00:46.880> I<00:00:46.970> have<00:00:47.210> on<00:00:47.480> the 00:00:47.620 --> 00:00:47.630 align:start position:0% Enterprise blueprint that I have on the 00:00:47.630 --> 00:00:49.600 align:start position:0% Enterprise blueprint that I have on the top<00:00:47.810> there<00:00:48.080> to<00:00:48.470> describe<00:00:48.830> what<00:00:49.100> we're<00:00:49.250> doing 00:00:49.600 --> 00:00:49.610 align:start position:0% top there to describe what we're doing 00:00:49.610 --> 00:00:51.850 align:start position:0% top there to describe what we're doing so<00:00:49.790> we're<00:00:50.570> building<00:00:50.720> the<00:00:50.960> warp<00:00:51.140> drive<00:00:51.200> right 00:00:51.850 --> 00:00:51.860 align:start position:0% so we're building the warp drive right 00:00:51.860 --> 00:00:53.830 align:start position:0% so we're building the warp drive right in<00:00:52.130> that<00:00:52.370> schema<00:00:52.760> that<00:00:52.880> you<00:00:52.970> see<00:00:53.210> there<00:00:53.420> the 00:00:53.830 --> 00:00:53.840 align:start position:0% in that schema that you see there the 00:00:53.840 --> 00:00:55.900 align:start position:0% in that schema that you see there the warp<00:00:54.080> drive<00:00:54.140> is<00:00:54.590> what's<00:00:54.860> gonna<00:00:55.040> feel 00:00:55.900 --> 00:00:55.910 align:start position:0% warp drive is what's gonna feel 00:00:55.910 --> 00:00:59.260 align:start position:0% warp drive is what's gonna feel innovation<00:00:56.660> production<00:00:57.580> and<00:00:58.580> the<00:00:58.700> starship 00:00:59.260 --> 00:00:59.270 align:start position:0% innovation production and the starship 00:00:59.270 --> 00:01:01.540 align:start position:0% innovation production and the starship is<00:00:59.420> basically<00:00:59.870> the<00:01:00.080> startups<00:01:00.590> organizations 00:01:01.540 --> 00:01:01.550 align:start position:0% is basically the startups organizations 00:01:01.550 --> 00:01:03.580 align:start position:0% is basically the startups organizations and<00:01:01.730> so<00:01:01.880> on<00:01:02.030> this<00:01:02.570> is<00:01:02.690> really<00:01:02.900> the<00:01:02.990> final 00:01:03.580 --> 00:01:03.590 align:start position:0% and so on this is really the final 00:01:03.590 --> 00:01:06.280 align:start position:0% and so on this is really the final frontier<00:01:03.980> in<00:01:04.220> automation<00:01:05.390> I<00:01:05.600> think<00:01:06.049> we've 00:01:06.280 --> 00:01:06.290 align:start position:0% frontier in automation I think we've 00:01:06.290 --> 00:01:07.990 align:start position:0% frontier in automation I think we've over<00:01:06.680> over<00:01:06.979> the<00:01:07.070> years<00:01:07.250> we've<00:01:07.430> automated<00:01:07.820> a 00:01:07.990 --> 00:01:08.000 align:start position:0% over over the years we've automated a 00:01:08.000 --> 00:01:10.810 align:start position:0% over over the years we've automated a lot<00:01:08.090> of<00:01:08.180> things<00:01:08.680> whether<00:01:09.680> it's<00:01:09.979> self-driving 00:01:10.810 --> 00:01:10.820 align:start position:0% lot of things whether it's self-driving 00:01:10.820 --> 00:01:13.510 align:start position:0% lot of things whether it's self-driving cars<00:01:11.180> or<00:01:11.740> completely<00:01:12.740> fully<00:01:13.009> functional 00:01:13.510 --> 00:01:13.520 align:start position:0% cars or completely fully functional 00:01:13.520 --> 00:01:16.390 align:start position:0% cars or completely fully functional robots<00:01:13.960> but<00:01:14.960> why<00:01:15.170> we<00:01:15.350> haven't<00:01:15.590> innovated<00:01:16.189> is 00:01:16.390 --> 00:01:16.400 align:start position:0% robots but why we haven't innovated is 00:01:16.400 --> 00:01:19.270 align:start position:0% robots but why we haven't innovated is in<00:01:16.640> the<00:01:16.759> area<00:01:17.060> of<00:01:17.240> law<00:01:17.509> corporate<00:01:18.470> law<00:01:18.530> legal 00:01:19.270 --> 00:01:19.280 align:start position:0% in the area of law corporate law legal 00:01:19.280 --> 00:01:20.670 align:start position:0% in the area of law corporate law legal processes<00:01:19.670> the<00:01:20.090> way<00:01:20.210> companies 00:01:20.670 --> 00:01:20.680 align:start position:0% processes the way companies 00:01:20.680 --> 00:01:22.690 align:start position:0% processes the way companies organizations<00:01:21.680> are<00:01:21.860> governed<00:01:22.310> as<00:01:22.460> a 00:01:22.690 --> 00:01:22.700 align:start position:0% organizations are governed as a 00:01:22.700 --> 00:01:24.670 align:start position:0% organizations are governed as a management<00:01:23.030> and<00:01:23.360> so<00:01:23.510> on<00:01:23.659> and<00:01:23.840> this<00:01:24.290> is<00:01:24.350> kind<00:01:24.620> of 00:01:24.670 --> 00:01:24.680 align:start position:0% management and so on and this is kind of 00:01:24.680 --> 00:01:25.899 align:start position:0% management and so on and this is kind of set<00:01:24.830> and<00:01:24.950> that's<00:01:25.040> what<00:01:25.430> we're<00:01:25.580> trying<00:01:25.790> to 00:01:25.899 --> 00:01:25.909 align:start position:0% set and that's what we're trying to 00:01:25.909 --> 00:01:27.120 align:start position:0% set and that's what we're trying to address 00:01:27.120 --> 00:01:27.130 align:start position:0% address 00:01:27.130 --> 00:01:30.850 align:start position:0% address so<00:01:28.130> before<00:01:28.880> I<00:01:28.909> go<00:01:29.180> into<00:01:29.210> how<00:01:29.990> we<00:01:30.050> do<00:01:30.380> what<00:01:30.590> we<00:01:30.710> do 00:01:30.850 --> 00:01:30.860 align:start position:0% so before I go into how we do what we do 00:01:30.860 --> 00:01:32.880 align:start position:0% so before I go into how we do what we do and<00:01:31.100> in 00:01:32.880 --> 00:01:32.890 align:start position:0% and in 00:01:32.890 --> 00:01:35.560 align:start position:0% and in our<00:01:33.890> design<00:01:34.280> pattern<00:01:34.700> it's<00:01:35.090> important<00:01:35.510> to 00:01:35.560 --> 00:01:35.570 align:start position:0% our design pattern it's important to 00:01:35.570 --> 00:01:37.390 align:start position:0% our design pattern it's important to understand<00:01:35.960> first<00:01:36.229> why<00:01:36.740> the<00:01:36.800> charter<00:01:37.370> company 00:01:37.390 --> 00:01:37.400 align:start position:0% understand first why the charter company 00:01:37.400 --> 00:01:40.090 align:start position:0% understand first why the charter company so<00:01:37.970> the<00:01:38.390> charter<00:01:38.690> company<00:01:38.720> as<00:01:39.200> I<00:01:39.320> mentioned<00:01:39.770> is 00:01:40.090 --> 00:01:40.100 align:start position:0% so the charter company as I mentioned is 00:01:40.100 --> 00:01:41.800 align:start position:0% so the charter company as I mentioned is the<00:01:40.340> undepreciated<00:01:40.760> engine<00:01:41.510> of<00:01:41.630> innovation 00:01:41.800 --> 00:01:41.810 align:start position:0% the undepreciated engine of innovation 00:01:41.810 --> 00:01:44.910 align:start position:0% the undepreciated engine of innovation and<00:01:42.229> production<00:01:42.530> right<00:01:43.030> we<00:01:44.030> all<00:01:44.240> build 00:01:44.910 --> 00:01:44.920 align:start position:0% and production right we all build 00:01:44.920 --> 00:01:47.530 align:start position:0% and production right we all build amazing<00:01:45.920> things<00:01:46.159> only<00:01:46.820> because<00:01:47.150> we<00:01:47.510> are 00:01:47.530 --> 00:01:47.540 align:start position:0% amazing things only because we are 00:01:47.540 --> 00:01:49.990 align:start position:0% amazing things only because we are organized<00:01:48.049> without<00:01:48.799> that<00:01:49.130> organization<00:01:49.880> I 00:01:49.990 --> 00:01:50.000 align:start position:0% organized without that organization I 00:01:50.000 --> 00:01:51.820 align:start position:0% organized without that organization I don't<00:01:50.180> think<00:01:50.420> we<00:01:50.630> will<00:01:50.780> achieve<00:01:50.960> the<00:01:51.799> things 00:01:51.820 --> 00:01:51.830 align:start position:0% don't think we will achieve the things 00:01:51.830 --> 00:01:53.920 align:start position:0% don't think we will achieve the things that<00:01:52.520> aetherium<00:01:52.940> is<00:01:53.060> achieved<00:01:53.390> for<00:01:53.570> instance 00:01:53.920 --> 00:01:53.930 align:start position:0% that aetherium is achieved for instance 00:01:53.930 --> 00:01:57.219 align:start position:0% that aetherium is achieved for instance and<00:01:54.710> it's<00:01:54.920> legal<00:01:55.130> so<00:01:56.090> the<00:01:56.240> way<00:01:56.390> we<00:01:56.600> designed 00:01:57.219 --> 00:01:57.229 align:start position:0% and it's legal so the way we designed 00:01:57.229 --> 00:01:59.320 align:start position:0% and it's legal so the way we designed our<00:01:57.470> design<00:01:58.310> pattern<00:01:58.700> or<00:01:58.790> the<00:01:58.909> autonomous 00:01:59.320 --> 00:01:59.330 align:start position:0% our design pattern or the autonomous 00:01:59.330 --> 00:02:01.300 align:start position:0% our design pattern or the autonomous plan<00:01:59.770> everything<00:02:00.770> that<00:02:00.890> you<00:02:00.979> do<00:02:01.100> on<00:02:01.220> our 00:02:01.300 --> 00:02:01.310 align:start position:0% plan everything that you do on our 00:02:01.310 --> 00:02:03.340 align:start position:0% plan everything that you do on our dashboard<00:02:01.549> is<00:02:01.970> completely<00:02:02.479> legal<00:02:02.630> it's<00:02:03.080> a 00:02:03.340 --> 00:02:03.350 align:start position:0% dashboard is completely legal it's a 00:02:03.350 --> 00:02:04.930 align:start position:0% dashboard is completely legal it's a mirror<00:02:03.619> image<00:02:03.799> of<00:02:04.130> what<00:02:04.190> happens<00:02:04.640> in<00:02:04.760> the<00:02:04.820> real 00:02:04.930 --> 00:02:04.940 align:start position:0% mirror image of what happens in the real 00:02:04.940 --> 00:02:07.270 align:start position:0% mirror image of what happens in the real world<00:02:05.240> and<00:02:05.930> honestly<00:02:06.440> I<00:02:06.530> think<00:02:06.680> it's<00:02:06.979> the<00:02:07.070> best 00:02:07.270 --> 00:02:07.280 align:start position:0% world and honestly I think it's the best 00:02:07.280 --> 00:02:08.949 align:start position:0% world and honestly I think it's the best use<00:02:07.520> case<00:02:07.729> for<00:02:08.060> a<00:02:08.420> theorem<00:02:08.720> from<00:02:08.810> our 00:02:08.949 --> 00:02:08.959 align:start position:0% use case for a theorem from our 00:02:08.959 --> 00:02:10.990 align:start position:0% use case for a theorem from our contracts<00:02:09.319> I<00:02:09.530> I<00:02:09.619> don't<00:02:10.159> know<00:02:10.250> why<00:02:10.459> nobody<00:02:10.700> else 00:02:10.990 --> 00:02:11.000 align:start position:0% contracts I I don't know why nobody else 00:02:11.000 --> 00:02:13.600 align:start position:0% contracts I I don't know why nobody else has<00:02:11.150> done<00:02:11.330> this<00:02:11.360> before<00:02:11.659> us<00:02:11.959> but<00:02:12.739> I<00:02:13.159> think<00:02:13.459> it's 00:02:13.600 --> 00:02:13.610 align:start position:0% has done this before us but I think it's 00:02:13.610 --> 00:02:15.339 align:start position:0% has done this before us but I think it's the<00:02:13.879> most<00:02:14.150> straightforward<00:02:14.480> use<00:02:14.930> case<00:02:15.170> that 00:02:15.339 --> 00:02:15.349 align:start position:0% the most straightforward use case that 00:02:15.349 --> 00:02:17.860 align:start position:0% the most straightforward use case that you<00:02:15.439> can<00:02:15.590> implement<00:02:15.860> where<00:02:16.610> you<00:02:16.730> convert<00:02:17.239> in 00:02:17.860 --> 00:02:17.870 align:start position:0% you can implement where you convert in 00:02:17.870 --> 00:02:19.360 align:start position:0% you can implement where you convert in our<00:02:18.019> case<00:02:18.230> we<00:02:18.439> convert<00:02:18.769> a<00:02:18.799> certain<00:02:19.099> section 00:02:19.360 --> 00:02:19.370 align:start position:0% our case we convert a certain section 00:02:19.370 --> 00:02:20.920 align:start position:0% our case we convert a certain section pertaining<00:02:19.730> to<00:02:19.819> corporate<00:02:20.180> law<00:02:20.360> into<00:02:20.689> smart 00:02:20.920 --> 00:02:20.930 align:start position:0% pertaining to corporate law into smart 00:02:20.930 --> 00:02:22.600 align:start position:0% pertaining to corporate law into smart contracts<00:02:21.409> self-governing<00:02:22.040> self<00:02:22.340> executing 00:02:22.600 --> 00:02:22.610 align:start position:0% contracts self-governing self executing 00:02:22.610 --> 00:02:25.089 align:start position:0% contracts self-governing self executing self<00:02:23.270> settling<00:02:23.660> smart<00:02:23.900> contracts<00:02:24.290> hopefully 00:02:25.089 --> 00:02:25.099 align:start position:0% self settling smart contracts hopefully 00:02:25.099 --> 00:02:26.710 align:start position:0% self settling smart contracts hopefully at<00:02:25.280> some<00:02:25.310> point<00:02:25.550> we'll<00:02:25.970> decentralize<00:02:26.540> the 00:02:26.710 --> 00:02:26.720 align:start position:0% at some point we'll decentralize the 00:02:26.720 --> 00:02:27.780 align:start position:0% at some point we'll decentralize the courts 00:02:27.780 --> 00:02:27.790 align:start position:0% courts 00:02:27.790 --> 00:02:30.000 align:start position:0% courts and<00:02:28.239> then<00:02:28.540> lawyers<00:02:28.840> become<00:02:29.110> coders<00:02:29.500> they'll 00:02:30.000 --> 00:02:30.010 align:start position:0% and then lawyers become coders they'll 00:02:30.010 --> 00:02:32.940 align:start position:0% and then lawyers become coders they'll be<00:02:30.129> interesting<00:02:30.599> so<00:02:31.599> we<00:02:31.750> this<00:02:32.530> is<00:02:32.650> basically 00:02:32.940 --> 00:02:32.950 align:start position:0% be interesting so we this is basically 00:02:32.950 --> 00:02:34.580 align:start position:0% be interesting so we this is basically what<00:02:33.190> we<00:02:33.280> do<00:02:33.400> now 00:02:34.580 --> 00:02:34.590 align:start position:0% what we do now 00:02:34.590 --> 00:02:36.869 align:start position:0% what we do now there's<00:02:35.590> been<00:02:35.680> a<00:02:35.739> lot<00:02:35.920> of<00:02:35.950> talk<00:02:36.220> in<00:02:36.519> the<00:02:36.760> last 00:02:36.869 --> 00:02:36.879 align:start position:0% there's been a lot of talk in the last 00:02:36.879 --> 00:02:39.390 align:start position:0% there's been a lot of talk in the last couple<00:02:37.090> of<00:02:37.269> days<00:02:37.390> about<00:02:37.709> security<00:02:38.709> especially 00:02:39.390 --> 00:02:39.400 align:start position:0% couple of days about security especially 00:02:39.400 --> 00:02:40.650 align:start position:0% couple of days about security especially yesterday<00:02:39.610> there<00:02:40.060> was<00:02:40.120> formal<00:02:40.480> verification 00:02:40.650 --> 00:02:40.660 align:start position:0% yesterday there was formal verification 00:02:40.660 --> 00:02:42.509 align:start position:0% yesterday there was formal verification stuff<00:02:41.349> all<00:02:41.560> that<00:02:41.680> is<00:02:41.800> amazing<00:02:42.340> I'm<00:02:42.489> a 00:02:42.509 --> 00:02:42.519 align:start position:0% stuff all that is amazing I'm a 00:02:42.519 --> 00:02:44.729 align:start position:0% stuff all that is amazing I'm a technologist<00:02:43.060> I'm<00:02:43.300> a<00:02:43.330> developer<00:02:43.900> so<00:02:44.319> I<00:02:44.349> really 00:02:44.729 --> 00:02:44.739 align:start position:0% technologist I'm a developer so I really 00:02:44.739 --> 00:02:46.680 align:start position:0% technologist I'm a developer so I really appreciate<00:02:45.250> the<00:02:45.370> mathematics<00:02:45.910> behind<00:02:46.239> formal 00:02:46.680 --> 00:02:46.690 align:start position:0% appreciate the mathematics behind formal 00:02:46.690 --> 00:02:48.630 align:start position:0% appreciate the mathematics behind formal verification<00:02:46.900> but<00:02:47.860> it's<00:02:48.040> still<00:02:48.190> complex 00:02:48.630 --> 00:02:48.640 align:start position:0% verification but it's still complex 00:02:48.640 --> 00:02:49.740 align:start position:0% verification but it's still complex stuff<00:02:48.849> right<00:02:49.060> it's<00:02:49.269> not<00:02:49.450> your<00:02:49.599> average 00:02:49.740 --> 00:02:49.750 align:start position:0% stuff right it's not your average 00:02:49.750 --> 00:02:52.380 align:start position:0% stuff right it's not your average developer<00:02:50.230> average<00:02:51.220> or<00:02:51.790> developer<00:02:52.239> that 00:02:52.380 --> 00:02:52.390 align:start position:0% developer average or developer that 00:02:52.390 --> 00:02:54.479 align:start position:0% developer average or developer that understands<00:02:52.900> these<00:02:53.050> things<00:02:53.319> so<00:02:54.220> there's 00:02:54.479 --> 00:02:54.489 align:start position:0% understands these things so there's 00:02:54.489 --> 00:02:56.039 align:start position:0% understands these things so there's another<00:02:54.970> tip<00:02:55.269> I'm<00:02:55.420> gonna<00:02:55.599> give<00:02:55.810> developers 00:02:56.039 --> 00:02:56.049 align:start position:0% another tip I'm gonna give developers 00:02:56.049 --> 00:02:58.470 align:start position:0% another tip I'm gonna give developers especially<00:02:56.500> new<00:02:57.010> developers<00:02:57.489> you<00:02:57.970> don't<00:02:58.180> have 00:02:58.470 --> 00:02:58.480 align:start position:0% especially new developers you don't have 00:02:58.480 --> 00:03:02.130 align:start position:0% especially new developers you don't have to<00:02:58.720> design<00:02:59.080> things<00:02:59.430> from<00:03:00.430> scratch<00:03:00.989> you<00:03:01.989> don't 00:03:02.130 --> 00:03:02.140 align:start position:0% to design things from scratch you don't 00:03:02.140 --> 00:03:03.839 align:start position:0% to design things from scratch you don't have<00:03:02.290> to<00:03:02.440> create<00:03:02.709> your<00:03:03.010> own<00:03:03.069> design<00:03:03.459> patterns 00:03:03.839 --> 00:03:03.849 align:start position:0% have to create your own design patterns 00:03:03.849 --> 00:03:06.000 align:start position:0% have to create your own design patterns you<00:03:03.970> can<00:03:04.120> seek<00:03:04.569> inspiration<00:03:05.470> from<00:03:05.799> two 00:03:06.000 --> 00:03:06.010 align:start position:0% you can seek inspiration from two 00:03:06.010 --> 00:03:08.490 align:start position:0% you can seek inspiration from two locations<00:03:06.340> one<00:03:06.910> is<00:03:07.030> history<00:03:07.599> which<00:03:08.230> is<00:03:08.349> what 00:03:08.490 --> 00:03:08.500 align:start position:0% locations one is history which is what 00:03:08.500 --> 00:03:10.080 align:start position:0% locations one is history which is what I've<00:03:08.650> which<00:03:09.069> is<00:03:09.220> why<00:03:09.340> I've<00:03:09.459> got<00:03:09.610> this<00:03:09.730> timeline 00:03:10.080 --> 00:03:10.090 align:start position:0% I've which is why I've got this timeline 00:03:10.090 --> 00:03:12.539 align:start position:0% I've which is why I've got this timeline here<00:03:10.390> and<00:03:10.599> the<00:03:10.660> other<00:03:10.780> one<00:03:10.930> is<00:03:11.019> nature<00:03:11.440> and<00:03:12.310> you 00:03:12.539 --> 00:03:12.549 align:start position:0% here and the other one is nature and you 00:03:12.549 --> 00:03:13.979 align:start position:0% here and the other one is nature and you can<00:03:12.700> learn<00:03:12.849> lessons<00:03:13.000> from<00:03:13.239> there<00:03:13.510> and<00:03:13.630> design 00:03:13.979 --> 00:03:13.989 align:start position:0% can learn lessons from there and design 00:03:13.989 --> 00:03:15.390 align:start position:0% can learn lessons from there and design your<00:03:14.170> smart<00:03:14.410> contracts<00:03:14.799> and<00:03:14.980> this<00:03:15.069> is<00:03:15.220> how<00:03:15.340> we 00:03:15.390 --> 00:03:15.400 align:start position:0% your smart contracts and this is how we 00:03:15.400 --> 00:03:17.250 align:start position:0% your smart contracts and this is how we do<00:03:15.730> things<00:03:15.760> as<00:03:16.120> well<00:03:16.329> and<00:03:16.540> if<00:03:16.780> we<00:03:16.900> look<00:03:17.110> at 00:03:17.250 --> 00:03:17.260 align:start position:0% do things as well and if we look at 00:03:17.260 --> 00:03:19.589 align:start position:0% do things as well and if we look at history<00:03:17.470> and<00:03:17.739> the<00:03:18.010> blockchain<00:03:18.459> and<00:03:18.849> that<00:03:19.480> the 00:03:19.589 --> 00:03:19.599 align:start position:0% history and the blockchain and that the 00:03:19.599 --> 00:03:22.830 align:start position:0% history and the blockchain and that the charted<00:03:19.959> company<00:03:20.670> evolution<00:03:21.670> over<00:03:21.819> time<00:03:21.940> it's 00:03:22.830 --> 00:03:22.840 align:start position:0% charted company evolution over time it's 00:03:22.840 --> 00:03:24.390 align:start position:0% charted company evolution over time it's sort<00:03:23.079> of<00:03:23.140> where<00:03:23.380> we<00:03:23.560> have<00:03:23.739> arrived<00:03:24.010> now<00:03:24.220> with 00:03:24.390 --> 00:03:24.400 align:start position:0% sort of where we have arrived now with 00:03:24.400 --> 00:03:25.620 align:start position:0% sort of where we have arrived now with the<00:03:24.459> blockchain<00:03:24.790> chart<00:03:25.150> the<00:03:25.209> company<00:03:25.540> is 00:03:25.620 --> 00:03:25.630 align:start position:0% the blockchain chart the company is 00:03:25.630 --> 00:03:27.270 align:start position:0% the blockchain chart the company is autonomous<00:03:26.110> so<00:03:26.290> the<00:03:26.380> first<00:03:26.650> charter<00:03:26.950> company 00:03:27.270 --> 00:03:27.280 align:start position:0% autonomous so the first charter company 00:03:27.280 --> 00:03:29.460 align:start position:0% autonomous so the first charter company was<00:03:27.459> somewhat<00:03:27.819> in<00:03:27.849> 13th<00:03:28.299> century<00:03:28.390> these<00:03:29.290> were 00:03:29.460 --> 00:03:29.470 align:start position:0% was somewhat in 13th century these were 00:03:29.470 --> 00:03:31.020 align:start position:0% was somewhat in 13th century these were the<00:03:29.590> traders<00:03:30.040> right<00:03:30.310> they<00:03:30.489> went<00:03:30.640> around<00:03:30.880> the 00:03:31.020 --> 00:03:31.030 align:start position:0% the traders right they went around the 00:03:31.030 --> 00:03:33.809 align:start position:0% the traders right they went around the world<00:03:31.209> the<00:03:31.690> ships<00:03:32.019> were<00:03:32.290> actually<00:03:32.680> the<00:03:32.859> the 00:03:33.809 --> 00:03:33.819 align:start position:0% world the ships were actually the the 00:03:33.819 --> 00:03:35.640 align:start position:0% world the ships were actually the the charter<00:03:34.120> company<00:03:34.150> itself<00:03:34.780> then<00:03:35.290> he<00:03:35.410> had<00:03:35.560> the 00:03:35.640 --> 00:03:35.650 align:start position:0% charter company itself then he had the 00:03:35.650 --> 00:03:37.710 align:start position:0% charter company itself then he had the Dutch<00:03:35.829> East<00:03:36.040> India<00:03:36.430> Company<00:03:36.459> then<00:03:37.389> you<00:03:37.510> had 00:03:37.710 --> 00:03:37.720 align:start position:0% Dutch East India Company then you had 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align:start position:0% innovation in the space of the 00:03:46.540 --> 00:03:49.590 align:start position:0% innovation in the space of the corporation<00:03:47.079> right<00:03:47.590> a<00:03:47.859> lot<00:03:48.250> of<00:03:48.340> the<00:03:48.600> processes 00:03:49.590 --> 00:03:49.600 align:start position:0% corporation right a lot of the processes 00:03:49.600 --> 00:03:51.930 align:start position:0% corporation right a lot of the processes policies<00:03:49.900> are<00:03:50.440> still<00:03:50.650> the<00:03:50.739> same<00:03:50.889> until<00:03:51.730> we 00:03:51.930 --> 00:03:51.940 align:start position:0% policies are still the same until we 00:03:51.940 --> 00:03:53.610 align:start position:0% policies are still the same until we came<00:03:52.120> along<00:03:52.180> autonomous<00:03:52.840> came<00:03:52.989> along<00:03:53.230> and<00:03:53.410> we 00:03:53.610 --> 00:03:53.620 align:start position:0% came along autonomous came along and we 00:03:53.620 --> 00:03:55.410 align:start position:0% came along autonomous came along and we put<00:03:53.920> we<00:03:54.160> put<00:03:54.609> the<00:03:54.760> company<00:03:55.060> on<00:03:55.120> the<00:03:55.239> blockchain 00:03:55.410 --> 00:03:55.420 align:start position:0% put we put the company on the blockchain 00:03:55.420 --> 00:03:57.479 align:start position:0% put we put the company on the blockchain we<00:03:55.989> allow<00:03:56.260> you<00:03:56.319> to<00:03:56.769> govern<00:03:57.069> the<00:03:57.160> company 00:03:57.479 --> 00:03:57.489 align:start position:0% we allow you to govern the company 00:03:57.489 --> 00:03:59.129 align:start position:0% we allow you to govern the company through<00:03:57.700> a<00:03:57.790> series<00:03:58.269> of<00:03:58.510> smart<00:03:58.750> contracts 00:03:59.129 --> 00:03:59.139 align:start position:0% through a series of smart contracts 00:03:59.139 --> 00:04:00.629 align:start position:0% through a series of smart contracts which<00:03:59.290> I'll<00:03:59.440> show<00:03:59.590> you<00:03:59.650> in<00:03:59.769> a<00:03:59.829> bit 00:04:00.629 --> 00:04:00.639 align:start position:0% which I'll show you in a bit 00:04:00.639 --> 00:04:02.309 align:start position:0% which I'll show you in a bit and<00:04:00.819> now<00:04:01.090> what<00:04:01.359> have<00:04:01.480> we<00:04:01.630> achieved<00:04:01.720> we<00:04:02.230> have 00:04:02.309 --> 00:04:02.319 align:start position:0% and now what have we achieved we have 00:04:02.319 --> 00:04:03.629 align:start position:0% and now what have we achieved we have automated<00:04:02.799> the<00:04:02.980> corporate<00:04:03.400> governance 00:04:03.629 --> 00:04:03.639 align:start position:0% automated the corporate governance 00:04:03.639 --> 00:04:05.759 align:start position:0% automated the corporate governance process<00:04:04.090> and<00:04:04.299> why<00:04:04.780> do<00:04:04.840> we<00:04:05.109> want<00:04:05.200> to<00:04:05.410> automate<00:04:05.560> a 00:04:05.759 --> 00:04:05.769 align:start position:0% process and why do we want to automate a 00:04:05.769 --> 00:04:07.110 align:start position:0% process and why do we want to automate a corporate<00:04:06.100> governance<00:04:06.310> process<00:04:06.730> cost<00:04:07.000> of 00:04:07.110 --> 00:04:07.120 align:start position:0% corporate governance process cost of 00:04:07.120 --> 00:04:08.809 align:start position:0% corporate governance process cost of doing<00:04:07.269> business<00:04:07.420> today<00:04:07.959> is<00:04:08.109> so<00:04:08.350> expensive 00:04:08.809 --> 00:04:08.819 align:start position:0% doing business today is so expensive 00:04:08.819 --> 00:04:11.400 align:start position:0% doing business today is so expensive because<00:04:09.819> we<00:04:10.420> have<00:04:10.569> to<00:04:10.660> hire<00:04:10.810> additional 00:04:11.400 --> 00:04:11.410 align:start position:0% because we have to hire additional 00:04:11.410 --> 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to<00:04:19.209> reduce<00:04:19.450> all<00:04:19.780> this<00:04:19.930> friction 00:04:20.099 --> 00:04:20.109 align:start position:0% to so we try to reduce all this friction 00:04:20.109 --> 00:04:22.860 align:start position:0% to so we try to reduce all this friction we<00:04:20.410> try<00:04:20.620> to<00:04:20.680> save<00:04:21.070> startups<00:04:22.060> especially<00:04:22.210> money 00:04:22.860 --> 00:04:22.870 align:start position:0% we try to save startups especially money 00:04:22.870 --> 00:04:26.460 align:start position:0% we try to save startups especially money and<00:04:23.740> let<00:04:23.950> them<00:04:24.130> focus<00:04:24.310> on<00:04:24.700> the<00:04:25.000> core<00:04:25.470> building 00:04:26.460 --> 00:04:26.470 align:start position:0% and let them focus on the core building 00:04:26.470 --> 00:04:28.320 align:start position:0% and let them focus on the core building of<00:04:26.620> the<00:04:26.740> starship<00:04:27.130> right<00:04:27.430> so<00:04:27.940> that's<00:04:28.060> what<00:04:28.240> we 00:04:28.320 --> 00:04:28.330 align:start position:0% of the starship right so that's what we 00:04:28.330 --> 00:04:30.360 align:start position:0% of the starship right so that's what we do<00:04:28.450> and<00:04:29.260> we<00:04:29.410> it's<00:04:29.620> not<00:04:29.740> that<00:04:29.919> we<00:04:29.979> don't<00:04:30.099> believe 00:04:30.360 --> 00:04:30.370 align:start position:0% do and we it's not that we don't believe 00:04:30.370 --> 00:04:31.170 align:start position:0% do and we it's not that we don't believe in<00:04:30.520> the<00:04:30.580> decentralized<00:04:31.060> autonomous 00:04:31.170 --> 00:04:31.180 align:start position:0% in the decentralized autonomous 00:04:31.180 --> 00:04:33.390 align:start position:0% in the decentralized autonomous organization<00:04:32.020> we<00:04:32.200> do<00:04:32.410> and<00:04:32.710> if<00:04:32.860> you<00:04:32.950> see<00:04:33.190> we 00:04:33.390 --> 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to<00:04:46.500> go<00:04:46.590> through<00:04:46.770> some<00:04:46.830> kind<00:04:47.070> of 00:04:47.260 --> 00:04:47.270 align:start position:0% think we need to go through some kind of 00:04:47.270 --> 00:04:49.550 align:start position:0% think we need to go through some kind of socio-economic<00:04:48.270> political<00:04:48.560> revolution 00:04:49.550 --> 00:04:49.560 align:start position:0% socio-economic political revolution 00:04:49.560 --> 00:04:52.010 align:start position:0% socio-economic political revolution before<00:04:50.070> we're<00:04:50.970> truly<00:04:51.150> ready<00:04:51.420> for<00:04:51.630> an 00:04:52.010 --> 00:04:52.020 align:start position:0% before we're truly ready for an 00:04:52.020 --> 00:04:53.600 align:start position:0% before we're truly ready for an efficient<00:04:52.680> decentralized<00:04:53.460> autonomous 00:04:53.600 --> 00:04:53.610 align:start position:0% efficient decentralized autonomous 00:04:53.610 --> 00:04:56.210 align:start position:0% efficient decentralized autonomous organization<00:04:54.480> so<00:04:55.350> basically<00:04:55.710> what<00:04:56.130> I'm 00:04:56.210 --> 00:04:56.220 align:start position:0% organization so basically what I'm 00:04:56.220 --> 00:04:57.950 align:start position:0% organization so basically what I'm trying<00:04:56.250> to<00:04:56.550> say<00:04:56.760> here<00:04:56.790> in<00:04:57.120> summary<00:04:57.450> is<00:04:57.660> that 00:04:57.950 --> 00:04:57.960 align:start position:0% trying to say here in summary is that 00:04:57.960 --> 00:04:59.900 align:start position:0% trying to say here in summary is that when<00:04:58.350> we<00:04:58.500> design<00:04:58.800> stuff<00:04:59.130> we<00:04:59.430> go<00:04:59.670> by<00:04:59.850> the 00:04:59.900 --> 00:04:59.910 align:start position:0% when we design stuff we go by the 00:04:59.910 --> 00:05:02.900 align:start position:0% when we design stuff we go by the secured<00:05:00.300> by<00:05:00.480> design<00:05:00.980> framework<00:05:01.980> and<00:05:02.250> the 00:05:02.900 --> 00:05:02.910 align:start position:0% secured by design framework and the 00:05:02.910 --> 00:05:04.820 align:start position:0% secured by design framework and the company<00:05:03.360> the<00:05:03.630> cop<00:05:03.840> the<00:05:04.140> corporation<00:05:04.740> the 00:05:04.820 --> 00:05:04.830 align:start position:0% company the cop the corporation the 00:05:04.830 --> 00:05:07.220 align:start position:0% company the cop the corporation the charter<00:05:05.130> company<00:05:05.420> through<00:05:06.420> its<00:05:06.450> years<00:05:06.900> of 00:05:07.220 --> 00:05:07.230 align:start position:0% charter company through its years of 00:05:07.230 --> 00:05:09.320 align:start position:0% charter company through its years of evolution<00:05:07.830> has<00:05:08.160> arrived<00:05:08.520> at<00:05:08.760> a<00:05:08.820> certain<00:05:09.090> state 00:05:09.320 --> 00:05:09.330 align:start position:0% evolution has arrived at a certain state 00:05:09.330 --> 00:05:11.750 align:start position:0% evolution has arrived at a certain state today<00:05:09.710> and<00:05:10.710> I<00:05:10.950> think<00:05:11.190> is<00:05:11.310> secured<00:05:11.640> by<00:05:11.730> design 00:05:11.750 --> 00:05:11.760 align:start position:0% today and I think is secured by design 00:05:11.760 --> 00:05:13.580 align:start position:0% today and I think is secured by design so<00:05:12.210> we<00:05:12.330> just<00:05:12.540> convert<00:05:12.960> that<00:05:13.140> secured<00:05:13.440> by 00:05:13.580 --> 00:05:13.590 align:start position:0% so we just convert that secured by 00:05:13.590 --> 00:05:15.520 align:start position:0% so we just convert that secured by design<00:05:13.620> framework<00:05:14.070> into<00:05:14.640> a<00:05:14.670> smart<00:05:14.910> contract 00:05:15.520 --> 00:05:15.530 align:start position:0% design framework into a smart contract 00:05:15.530 --> 00:05:18.400 align:start position:0% design framework into a smart contract how<00:05:16.530> do<00:05:16.590> we<00:05:16.980> do<00:05:17.190> this 00:05:18.400 --> 00:05:18.410 align:start position:0% how do we do this 00:05:18.410 --> 00:05:20.840 align:start position:0% how do we do this before<00:05:19.410> I<00:05:19.650> can<00:05:19.950> even<00:05:19.980> speak<00:05:20.370> about<00:05:20.550> the 00:05:20.840 --> 00:05:20.850 align:start position:0% before I can even speak about the 00:05:20.850 --> 00:05:22.220 align:start position:0% before I can even speak about the company<00:05:21.150> smart<00:05:21.420> contract<00:05:21.810> which<00:05:22.050> is 00:05:22.220 --> 00:05:22.230 align:start position:0% company smart contract which is 00:05:22.230 --> 00:05:23.990 align:start position:0% company smart contract which is basically<00:05:22.860> our<00:05:22.980> main<00:05:23.190> bread<00:05:23.430> and<00:05:23.550> butter<00:05:23.670> I 00:05:23.990 --> 00:05:24.000 align:start position:0% basically our main bread and butter I 00:05:24.000 --> 00:05:25.640 align:start position:0% basically our main bread and butter I want<00:05:24.510> to<00:05:24.570> talk<00:05:24.720> about<00:05:24.870> the<00:05:25.110> ID<00:05:25.230> any<00:05:25.410> smart 00:05:25.640 --> 00:05:25.650 align:start position:0% want to talk about the ID any smart 00:05:25.650 --> 00:05:27.200 align:start position:0% want to talk about the ID any smart contracts<00:05:26.010> so<00:05:26.160> again<00:05:26.640> going<00:05:26.820> back<00:05:26.940> to<00:05:27.150> the 00:05:27.200 --> 00:05:27.210 align:start position:0% contracts so again going back to the 00:05:27.210 --> 00:05:29.510 align:start position:0% contracts so again going back to the energy<00:05:27.630> of<00:05:27.750> Star<00:05:28.170> Trek<00:05:28.440> this<00:05:29.070> is<00:05:29.280> the 00:05:29.510 --> 00:05:29.520 align:start position:0% energy of Star Trek this is the 00:05:29.520 --> 00:05:32.570 align:start position:0% energy of Star Trek this is the dilithium<00:05:29.970> crystals<00:05:30.660> I<00:05:31.100> see<00:05:32.100> a<00:05:32.160> lot<00:05:32.280> of<00:05:32.340> blank 00:05:32.570 --> 00:05:32.580 align:start position:0% dilithium crystals I see a lot of blank 00:05:32.580 --> 00:05:34.490 align:start position:0% dilithium crystals I see a lot of blank faces<00:05:32.850> so<00:05:33.150> I'm<00:05:33.270> assuming<00:05:33.660> you<00:05:33.990> guys<00:05:34.140> are<00:05:34.350> not 00:05:34.490 --> 00:05:34.500 align:start position:0% faces so I'm assuming you guys are not 00:05:34.500 --> 00:05:38.150 align:start position:0% faces so I'm assuming you guys are not from<00:05:34.650> the<00:05:34.830> Star<00:05:35.040> Trek<00:05:35.250> generation<00:05:36.110> okay<00:05:37.160> so 00:05:38.150 --> 00:05:38.160 align:start position:0% from the Star Trek generation okay so 00:05:38.160 --> 00:05:40.310 align:start position:0% from the Star Trek generation okay so dilithium<00:05:38.730> crystal<00:05:39.240> meaning<00:05:39.720> that<00:05:39.930> this<00:05:40.140> is 00:05:40.310 --> 00:05:40.320 align:start position:0% dilithium crystal meaning that this is 00:05:40.320 --> 00:05:41.960 align:start position:0% dilithium crystal meaning that this is the<00:05:40.470> fuel<00:05:40.740> for<00:05:41.010> everything<00:05:41.400> else<00:05:41.550> that<00:05:41.820> we 00:05:41.960 --> 00:05:41.970 align:start position:0% the fuel for everything else that we 00:05:41.970 --> 00:05:45.110 align:start position:0% the fuel for everything else that we build<00:05:42.210> and<00:05:42.510> the<00:05:42.990> central<00:05:43.680> point<00:05:43.980> of<00:05:44.670> all 00:05:45.110 --> 00:05:45.120 align:start position:0% build and the central point of all 00:05:45.120 --> 00:05:46.610 align:start position:0% build and the central point of all interaction<00:05:45.870> with<00:05:46.050> a<00:05:46.080> company's<00:05:46.410> Marc 00:05:46.610 --> 00:05:46.620 align:start position:0% interaction with a company's Marc 00:05:46.620 --> 00:05:49.160 align:start position:0% interaction with a company's Marc contract<00:05:46.950> now<00:05:47.340> what<00:05:47.610> is<00:05:47.760> this<00:05:47.970> the<00:05:48.660> identity 00:05:49.160 --> 00:05:49.170 align:start position:0% contract now what is this the identity 00:05:49.170 --> 00:05:51.230 align:start position:0% contract now what is this the identity in<00:05:49.530> our<00:05:49.770> case<00:05:50.070> can<00:05:50.550> be<00:05:50.580> it's<00:05:51.120> probably 00:05:51.230 --> 00:05:51.240 align:start position:0% in our case can be it's probably 00:05:51.240 --> 00:05:52.520 align:start position:0% in our case can be it's probably slightly<00:05:51.570> different<00:05:51.960> from<00:05:52.050> the<00:05:52.200> you<00:05:52.290> port 00:05:52.520 --> 00:05:52.530 align:start position:0% slightly different from the you port 00:05:52.530 --> 00:05:54.770 align:start position:0% slightly different from the you port guys<00:05:52.650> and<00:05:52.890> anybody<00:05:53.040> else<00:05:53.340> as<00:05:53.550> that's<00:05:54.360> building 00:05:54.770 --> 00:05:54.780 align:start position:0% guys and anybody else as that's building 00:05:54.780 --> 00:05:56.780 align:start position:0% guys and anybody else as that's building an<00:05:55.140> ID<00:05:55.260> any<00:05:55.440> smart<00:05:55.650> contract<00:05:56.010> we<00:05:56.430> had<00:05:56.550> to<00:05:56.640> make 00:05:56.780 --> 00:05:56.790 align:start position:0% an ID any smart contract we had to make 00:05:56.790 --> 00:05:58.880 align:start position:0% an ID any smart contract we had to make this<00:05:56.940> because<00:05:57.780> we<00:05:57.900> wanted<00:05:58.200> it<00:05:58.320> to<00:05:58.380> work<00:05:58.650> with 00:05:58.880 --> 00:05:58.890 align:start position:0% this because we wanted it to work with 00:05:58.890 --> 00:06:00.590 align:start position:0% this because we wanted it to work with our<00:05:59.160> ultimate<00:05:59.700> use<00:05:59.850> case<00:06:00.060> of<00:06:00.240> the<00:06:00.330> company 00:06:00.590 --> 00:06:00.600 align:start position:0% our ultimate use case of the company 00:06:00.600 --> 00:06:02.360 align:start position:0% our ultimate use case of the company smart<00:06:00.840> contract<00:06:01.200> so<00:06:01.680> in<00:06:01.830> our<00:06:01.950> case<00:06:02.190> the 00:06:02.360 --> 00:06:02.370 align:start position:0% smart contract so in our case the 00:06:02.370 --> 00:06:04.970 align:start position:0% smart contract so in our case the identity<00:06:02.700> can<00:06:02.820> be<00:06:02.910> two<00:06:03.060> things<00:06:03.270> first<00:06:03.980> persona 00:06:04.970 --> 00:06:04.980 align:start position:0% identity can be two things first persona 00:06:04.980 --> 00:06:07.160 align:start position:0% identity can be two things first persona so<00:06:05.310> a<00:06:05.340> regular<00:06:05.700> person<00:06:06.060> a<00:06:06.210> natural<00:06:06.660> individual 00:06:07.160 --> 00:06:07.170 align:start position:0% so a regular person a natural individual 00:06:07.170 --> 00:06:09.920 align:start position:0% so a regular person a natural individual second<00:06:07.980> a<00:06:08.100> company<00:06:08.640> right<00:06:09.060> so<00:06:09.420> it<00:06:09.600> can<00:06:09.780> be<00:06:09.900> a 00:06:09.920 --> 00:06:09.930 align:start position:0% second a company right so it can be a 00:06:09.930 --> 00:06:12.410 align:start position:0% second a company right so it can be a collection<00:06:10.170> of<00:06:10.680> a<00:06:11.190> company<00:06:11.970> that's<00:06:12.120> governed 00:06:12.410 --> 00:06:12.420 align:start position:0% collection of a company that's governed 00:06:12.420 --> 00:06:14.000 align:start position:0% collection of a company that's governed by<00:06:12.630> a<00:06:12.660> constitution<00:06:12.870> which<00:06:13.530> is<00:06:13.650> a<00:06:13.680> collection 00:06:14.000 --> 00:06:14.010 align:start position:0% by a constitution which is a collection 00:06:14.010 --> 00:06:16.430 align:start position:0% by a constitution which is a collection of<00:06:14.190> individuals<00:06:14.700> and<00:06:14.940> it<00:06:15.840> can<00:06:16.020> also<00:06:16.200> be<00:06:16.410> a 00:06:16.430 --> 00:06:16.440 align:start position:0% of individuals and it can also be a 00:06:16.440 --> 00:06:18.080 align:start position:0% of individuals and it can also be a verification<00:06:16.800> entity<00:06:17.430> so<00:06:17.580> we<00:06:17.700> said<00:06:17.910> you<00:06:18.060> know 00:06:18.080 --> 00:06:18.090 align:start position:0% verification entity so we said you know 00:06:18.090 --> 00:06:20.240 align:start position:0% verification entity so we said you know it's<00:06:18.420> not<00:06:18.570> enough<00:06:18.810> for<00:06:18.870> us<00:06:19.110> to<00:06:19.290> just<00:06:19.620> allow<00:06:20.190> the 00:06:20.240 --> 00:06:20.250 align:start position:0% it's not enough for us to just allow the 00:06:20.250 --> 00:06:22.550 align:start position:0% it's not enough for us to just allow the user<00:06:20.550> to<00:06:20.790> create<00:06:21.270> an<00:06:21.600> identical<00:06:22.020> tract<00:06:22.380> we 00:06:22.550 --> 00:06:22.560 align:start position:0% user to create an identical tract we 00:06:22.560 --> 00:06:24.500 align:start position:0% user to create an identical tract we also<00:06:22.710> need<00:06:23.010> to<00:06:23.160> verify<00:06:23.340> this<00:06:23.610> and<00:06:24.090> we<00:06:24.330> don't 00:06:24.500 --> 00:06:24.510 align:start position:0% also need to verify this and we don't 00:06:24.510 --> 00:06:26.240 align:start position:0% also need to verify this and we don't want<00:06:24.660> to<00:06:24.720> do<00:06:24.840> this<00:06:24.960> in<00:06:25.170> a<00:06:25.260> central<00:06:25.680> manner<00:06:25.950> we 00:06:26.240 --> 00:06:26.250 align:start position:0% want to do this in a central manner we 00:06:26.250 --> 00:06:27.230 align:start position:0% want to do this in a central manner we want<00:06:26.430> to<00:06:26.550> do<00:06:26.640> this<00:06:26.790> in<00:06:26.940> a<00:06:27.000> decentralized 00:06:27.230 --> 00:06:27.240 align:start position:0% want to do this in a decentralized 00:06:27.240 --> 00:06:29.450 align:start position:0% want to do this in a decentralized manner<00:06:27.660> as<00:06:27.810> well<00:06:27.960> and<00:06:28.500> we<00:06:28.590> said<00:06:28.740> okay<00:06:28.980> then 00:06:29.450 --> 00:06:29.460 align:start position:0% manner as well and we said okay then 00:06:29.460 --> 00:06:30.680 align:start position:0% manner as well and we said okay then we've<00:06:29.580> got<00:06:29.700> to<00:06:29.760> create<00:06:29.940> verification 00:06:30.680 --> 00:06:30.690 align:start position:0% we've got to create verification 00:06:30.690 --> 00:06:32.900 align:start position:0% we've got to create verification entities<00:06:31.050> but<00:06:31.710> the<00:06:31.950> way<00:06:32.070> we<00:06:32.250> build<00:06:32.550> them<00:06:32.730> so 00:06:32.900 --> 00:06:32.910 align:start position:0% entities but the way we build them so 00:06:32.910 --> 00:06:34.550 align:start position:0% entities but the way we build them so autonomous<00:06:33.870> in<00:06:34.050> this<00:06:34.170> case<00:06:34.380> is<00:06:34.530> a 00:06:34.550 --> 00:06:34.560 align:start position:0% autonomous in this case is a 00:06:34.560 --> 00:06:36.350 align:start position:0% autonomous in this case is a verification<00:06:34.830> entity<00:06:35.310> and<00:06:35.460> we<00:06:35.520> as<00:06:35.910> a<00:06:35.940> result 00:06:36.350 --> 00:06:36.360 align:start position:0% verification entity and we as a result 00:06:36.360 --> 00:06:38.150 align:start position:0% verification entity and we as a result of<00:06:36.510> you<00:06:36.600> having<00:06:36.900> think<00:06:37.110> if<00:06:37.290> you<00:06:37.470> decide<00:06:38.040> to 00:06:38.150 --> 00:06:38.160 align:start position:0% of you having think if you decide to 00:06:38.160 --> 00:06:39.980 align:start position:0% of you having think if you decide to incorporate<00:06:38.400> a<00:06:38.670> company<00:06:38.730> with<00:06:39.150> us<00:06:39.330> you<00:06:39.810> will 00:06:39.980 --> 00:06:39.990 align:start position:0% incorporate a company with us you will 00:06:39.990 --> 00:06:42.680 align:start position:0% incorporate a company with us you will also<00:06:40.230> create<00:06:40.770> your<00:06:41.220> identity<00:06:42.030> and<00:06:42.180> we<00:06:42.450> will 00:06:42.680 --> 00:06:42.690 align:start position:0% also create your identity and we will 00:06:42.690 --> 00:06:44.450 align:start position:0% also create your identity and we will then<00:06:43.110> have<00:06:43.290> to<00:06:43.410> verify<00:06:43.590> this<00:06:43.920> energy<00:06:44.220> this 00:06:44.450 --> 00:06:44.460 align:start position:0% then have to verify this energy this 00:06:44.460 --> 00:06:46.130 align:start position:0% then have to verify this energy this identity<00:06:44.820> can<00:06:44.970> have<00:06:45.090> a<00:06:45.120> layered<00:06:45.390> approach<00:06:45.660> so 00:06:46.130 --> 00:06:46.140 align:start position:0% identity can have a layered approach so 00:06:46.140 --> 00:06:50.420 align:start position:0% identity can have a layered approach so we<00:06:46.170> do<00:06:46.470> a<00:06:47.100> proof<00:06:47.580> of<00:06:47.750> identity<00:06:48.750> type<00:06:49.440> kyc<00:06:50.070> where 00:06:50.420 --> 00:06:50.430 align:start position:0% we do a proof of identity type kyc where 00:06:50.430 --> 00:06:52.550 align:start position:0% we do a proof of identity type kyc where we<00:06:50.550> ask<00:06:50.820> for<00:06:50.970> proof<00:06:51.150> of<00:06:51.270> address<00:06:51.360> your<00:06:52.050> your 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allowed to do a specific type<00:07:03.800> of<00:07:03.950> care<00:07:04.130> kyc<00:07:04.730> and<00:07:04.940> that's<00:07:05.480> why<00:07:05.630> you<00:07:05.690> see 00:07:05.950 --> 00:07:05.960 align:start position:0% type of care kyc and that's why you see 00:07:05.960 --> 00:07:07.560 align:start position:0% type of care kyc and that's why you see at<00:07:06.080> the<00:07:06.170> bottom<00:07:06.320> there<00:07:06.590> on<00:07:06.650> the<00:07:06.740> left 00:07:07.560 --> 00:07:07.570 align:start position:0% at the bottom there on the left 00:07:07.570 --> 00:07:12.100 align:start position:0% at the bottom there on the left and<00:07:09.070> more<00:07:10.070> importantly<00:07:10.580> this<00:07:11.510> identity<00:07:11.930> Mart 00:07:12.100 --> 00:07:12.110 align:start position:0% and more importantly this identity Mart 00:07:12.110 --> 00:07:14.130 align:start position:0% and more importantly this identity Mart contract<00:07:12.530> also<00:07:12.770> has<00:07:13.190> got 00:07:14.130 --> 00:07:14.140 align:start position:0% contract also has got 00:07:14.140 --> 00:07:16.570 align:start position:0% contract also has got ID<00:07:15.140> any<00:07:15.350> information<00:07:15.920> right<00:07:16.130> so<00:07:16.340> it's<00:07:16.490> a 00:07:16.570 --> 00:07:16.580 align:start position:0% ID any information right so it's a 00:07:16.580 --> 00:07:18.580 align:start position:0% ID any information right so it's a collection<00:07:16.880> of<00:07:17.180> an<00:07:17.570> encrypted<00:07:17.960> identifier 00:07:18.580 --> 00:07:18.590 align:start position:0% collection of an encrypted identifier 00:07:18.590 --> 00:07:20.980 align:start position:0% collection of an encrypted identifier that<00:07:18.860> is<00:07:19.190> selectively<00:07:19.700> shared<00:07:20.060> so<00:07:20.390> by<00:07:20.570> default 00:07:20.980 --> 00:07:20.990 align:start position:0% that is selectively shared so by default 00:07:20.990 --> 00:07:22.360 align:start position:0% that is selectively shared so by default you<00:07:21.080> can<00:07:21.110> assume<00:07:21.500> that<00:07:21.530> it's<00:07:21.830> shared<00:07:21.950> with<00:07:22.070> the 00:07:22.360 --> 00:07:22.370 align:start position:0% you can assume that it's shared with the 00:07:22.370 --> 00:07:23.950 align:start position:0% you can assume that it's shared with the public<00:07:22.520> addresses<00:07:23.060> of<00:07:23.300> the<00:07:23.390> verification 00:07:23.950 --> 00:07:23.960 align:start position:0% public addresses of the verification 00:07:23.960 --> 00:07:26.710 align:start position:0% public addresses of the verification entities<00:07:24.290> and<00:07:25.250> it<00:07:25.430> has<00:07:25.610> the<00:07:26.120> stamps<00:07:26.480> of<00:07:26.600> this 00:07:26.710 --> 00:07:26.720 align:start position:0% entities and it has the stamps of this 00:07:26.720 --> 00:07:28.540 align:start position:0% entities and it has the stamps of this verification<00:07:27.020> T<00:07:27.350> so<00:07:27.470> the<00:07:27.590> KYC<00:07:27.860> stuff<00:07:28.190> I<00:07:28.310> talked 00:07:28.540 --> 00:07:28.550 align:start position:0% verification T so the KYC stuff I talked 00:07:28.550 --> 00:07:30.910 align:start position:0% verification T so the KYC stuff I talked about<00:07:28.790> it's<00:07:29.300> all<00:07:29.600> in<00:07:30.110> a<00:07:30.230> collection<00:07:30.500> of<00:07:30.680> stamps 00:07:30.910 --> 00:07:30.920 align:start position:0% about it's all in a collection of stamps 00:07:30.920 --> 00:07:33.820 align:start position:0% about it's all in a collection of stamps if<00:07:31.130> you<00:07:31.250> would<00:07:31.460> and<00:07:32.330> it<00:07:32.630> routes<00:07:32.900> calls<00:07:33.320> so<00:07:33.710> if 00:07:33.820 --> 00:07:33.830 align:start position:0% if you would and it routes calls so if 00:07:33.830 --> 00:07:35.170 align:start position:0% if you would and it routes calls so if you<00:07:33.920> go<00:07:34.040> to<00:07:34.100> the<00:07:34.280> I<00:07:34.310> Denis<00:07:34.610> mark<00:07:34.790> on<00:07:34.880> tracking 00:07:35.170 --> 00:07:35.180 align:start position:0% you go to the I Denis mark on tracking 00:07:35.180 --> 00:07:37.840 align:start position:0% you go to the I Denis mark on tracking and<00:07:35.270> say<00:07:35.360> hey<00:07:35.480> get<00:07:35.900> me<00:07:35.990> the<00:07:36.110> KYC<00:07:36.680> of<00:07:37.640> this 00:07:37.840 --> 00:07:37.850 align:start position:0% and say hey get me the KYC of this 00:07:37.850 --> 00:07:40.060 align:start position:0% and say hey get me the KYC of this identity<00:07:38.300> with<00:07:38.600> a<00:07:38.870> specific<00:07:39.230> bank<00:07:39.590> then<00:07:39.950> it's 00:07:40.060 --> 00:07:40.070 align:start position:0% identity with a specific bank then it's 00:07:40.070 --> 00:07:41.710 align:start position:0% identity with a specific bank then it's gonna<00:07:40.220> route<00:07:40.460> that<00:07:40.670> call<00:07:40.850> to<00:07:41.060> that<00:07:41.180> bank<00:07:41.450> and 00:07:41.710 --> 00:07:41.720 align:start position:0% gonna route that call to that bank and 00:07:41.720 --> 00:07:44.020 align:start position:0% gonna route that call to that bank and get<00:07:42.170> you<00:07:42.290> the<00:07:42.410> up-to-date<00:07:42.680> kyc<00:07:43.160> State<00:07:43.490> should 00:07:44.020 --> 00:07:44.030 align:start position:0% get you the up-to-date kyc State should 00:07:44.030 --> 00:07:45.550 align:start position:0% get you the up-to-date kyc State should you<00:07:44.150> not<00:07:44.300> should<00:07:44.630> you<00:07:44.750> wish<00:07:44.930> not<00:07:45.140> to<00:07:45.170> use<00:07:45.380> the 00:07:45.550 --> 00:07:45.560 align:start position:0% you not should you wish not to use the 00:07:45.560 --> 00:07:47.590 align:start position:0% you not should you wish not to use the localized<00:07:45.950> stamp<00:07:46.190> it's<00:07:46.850> got<00:07:47.030> a<00:07:47.060> secure<00:07:47.390> key 00:07:47.590 --> 00:07:47.600 align:start position:0% localized stamp it's got a secure key 00:07:47.600 --> 00:07:50.020 align:start position:0% localized stamp it's got a secure key recovery<00:07:48.050> mechanism<00:07:48.500> in<00:07:48.590> place<00:07:48.650> as<00:07:48.980> well<00:07:49.220> that 00:07:50.020 --> 00:07:50.030 align:start position:0% recovery mechanism in place as well that 00:07:50.030 --> 00:07:51.280 align:start position:0% recovery mechanism in place as well that we've<00:07:50.150> attached<00:07:50.480> to<00:07:50.630> the<00:07:50.720> identity<00:07:51.080> so 00:07:51.280 --> 00:07:51.290 align:start position:0% we've attached to the identity so 00:07:51.290 --> 00:07:53.920 align:start position:0% we've attached to the identity so basically<00:07:52.100> it's<00:07:52.430> not<00:07:52.610> enough<00:07:53.210> and<00:07:53.570> a<00:07:53.750> lot<00:07:53.870> of 00:07:53.920 --> 00:07:53.930 align:start position:0% basically it's not enough and a lot of 00:07:53.930 --> 00:07:55.990 align:start position:0% basically it's not enough and a lot of things<00:07:54.110> we<00:07:54.230> design<00:07:54.530> right<00:07:54.770> we<00:07:54.980> understand<00:07:55.430> at 00:07:55.990 --> 00:07:56.000 align:start position:0% things we design right we understand at 00:07:56.000 --> 00:07:57.730 align:start position:0% things we design right we understand at the<00:07:56.150> end<00:07:56.240> of<00:07:56.300> the<00:07:56.360> day<00:07:56.450> people<00:07:57.020> are<00:07:57.290> using<00:07:57.500> the 00:07:57.730 --> 00:07:57.740 align:start position:0% the end of the day people are using the 00:07:57.740 --> 00:07:59.560 align:start position:0% the end of the day people are using the system<00:07:58.070> and<00:07:58.190> people<00:07:58.400> are<00:07:58.640> flawed<00:07:58.910> systems 00:07:59.560 --> 00:07:59.570 align:start position:0% system and people are flawed systems 00:07:59.570 --> 00:08:01.000 align:start position:0% system and people are flawed systems might<00:07:59.750> be<00:07:59.870> perfect<00:08:00.230> but<00:08:00.350> people<00:08:00.590> always<00:08:00.710> lose 00:08:01.000 --> 00:08:01.010 align:start position:0% might be perfect but people always lose 00:08:01.010 --> 00:08:03.100 align:start position:0% might be perfect but people always lose their<00:08:01.160> keys<00:08:01.340> and<00:08:01.520> we've<00:08:02.000> had<00:08:02.240> many<00:08:02.720> many 00:08:03.100 --> 00:08:03.110 align:start position:0% their keys and we've had many many 00:08:03.110 --> 00:08:04.720 align:start position:0% their keys and we've had many many people<00:08:03.500> losing<00:08:03.680> the<00:08:03.920> kids<00:08:04.100> actually<00:08:04.250> as<00:08:04.520> we 00:08:04.720 --> 00:08:04.730 align:start position:0% people losing the kids actually as we 00:08:04.730 --> 00:08:06.160 align:start position:0% people losing the kids actually as we speak<00:08:05.030> I<00:08:05.150> think<00:08:05.180> even<00:08:05.480> my<00:08:05.630> developers<00:08:06.050> are 00:08:06.160 --> 00:08:06.170 align:start position:0% speak I think even my developers are 00:08:06.170 --> 00:08:08.970 align:start position:0% speak I think even my developers are still 00:08:08.970 --> 00:08:08.980 align:start position:0% 00:08:08.980 --> 00:08:12.670 align:start position:0% recovering<00:08:09.980> some<00:08:10.490> clients<00:08:11.300> key<00:08:11.480> I'm<00:08:11.630> sure<00:08:11.840> so 00:08:12.670 --> 00:08:12.680 align:start position:0% recovering some clients key I'm sure so 00:08:12.680 --> 00:08:14.440 align:start position:0% recovering some clients key I'm sure so we<00:08:12.860> come<00:08:13.250> up<00:08:13.370> with<00:08:13.460> a<00:08:13.520> very<00:08:13.730> secure<00:08:14.000> way<00:08:14.090> in 00:08:14.440 --> 00:08:14.450 align:start position:0% we come up with a very secure way in 00:08:14.450 --> 00:08:15.730 align:start position:0% we come up with a very secure way in which<00:08:14.600> you<00:08:14.720> can<00:08:14.870> store<00:08:14.960> your<00:08:15.170> key<00:08:15.530> and 00:08:15.730 --> 00:08:15.740 align:start position:0% which you can store your key and 00:08:15.740 --> 00:08:17.680 align:start position:0% which you can store your key and retrieve<00:08:16.640> it<00:08:16.850> so<00:08:16.970> even<00:08:17.120> the<00:08:17.330> retrieval 00:08:17.680 --> 00:08:17.690 align:start position:0% retrieve it so even the retrieval 00:08:17.690 --> 00:08:19.240 align:start position:0% retrieve it so even the retrieval mechanism<00:08:18.200> that<00:08:18.350> we've<00:08:18.440> put<00:08:18.650> in<00:08:18.740> place<00:08:18.770> and 00:08:19.240 --> 00:08:19.250 align:start position:0% mechanism that we've put in place and 00:08:19.250 --> 00:08:21.340 align:start position:0% mechanism that we've put in place and show<00:08:19.520> us<00:08:19.640> that<00:08:19.670> after<00:08:20.150> you've<00:08:20.300> recovered<00:08:20.660> you 00:08:21.340 --> 00:08:21.350 align:start position:0% show us that after you've recovered you 00:08:21.350 --> 00:08:22.810 align:start position:0% show us that after you've recovered you can<00:08:21.530> still<00:08:21.770> continue<00:08:22.130> to<00:08:22.370> use<00:08:22.520> the<00:08:22.640> keys 00:08:22.810 --> 00:08:22.820 align:start position:0% can still continue to use the keys 00:08:22.820 --> 00:08:24.340 align:start position:0% can still continue to use the keys because<00:08:23.060> they've<00:08:23.360> not<00:08:23.510> been<00:08:23.690> compromised<00:08:24.200> in 00:08:24.340 --> 00:08:24.350 align:start position:0% because they've not been compromised in 00:08:24.350 --> 00:08:26.410 align:start position:0% because they've not been compromised in any<00:08:24.530> way<00:08:24.710> during<00:08:25.130> the<00:08:25.340> recovery<00:08:25.730> process<00:08:26.240> and 00:08:26.410 --> 00:08:26.420 align:start position:0% any way during the recovery process and 00:08:26.420 --> 00:08:28.210 align:start position:0% any way during the recovery process and that's<00:08:26.600> also<00:08:26.780> something<00:08:27.050> that<00:08:27.170> we<00:08:27.350> do<00:08:27.410> and 00:08:28.210 --> 00:08:28.220 align:start position:0% that's also something that we do and 00:08:28.220 --> 00:08:29.530 align:start position:0% that's also something that we do and obviously<00:08:28.730> you<00:08:28.820> need<00:08:28.910> to<00:08:29.030> be<00:08:29.090> able<00:08:29.150> to<00:08:29.270> replace 00:08:29.530 --> 00:08:29.540 align:start position:0% obviously you need to be able to replace 00:08:29.540 --> 00:08:30.970 align:start position:0% obviously you need to be able to replace it<00:08:29.840> so<00:08:29.960> in<00:08:30.140> summary<00:08:30.530> I<00:08:30.590> think<00:08:30.710> we've 00:08:30.970 --> 00:08:30.980 align:start position:0% it so in summary I think we've 00:08:30.980 --> 00:08:33.730 align:start position:0% it so in summary I think we've identified<00:08:31.220> or<00:08:31.910> we've<00:08:32.270> solved<00:08:32.750> at<00:08:33.169> least<00:08:33.560> for 00:08:33.730 --> 00:08:33.740 align:start position:0% identified or we've solved at least for 00:08:33.740 --> 00:08:35.790 align:start position:0% identified or we've solved at least for our<00:08:33.770> use<00:08:34.039> case<00:08:34.310> we've<00:08:34.700> solved 00:08:35.790 --> 00:08:35.800 align:start position:0% our use case we've solved 00:08:35.800 --> 00:08:40.330 align:start position:0% our use case we've solved privacy<00:08:36.800> recovery<00:08:37.789> and<00:08:38.150> compromise<00:08:39.280> right 00:08:40.330 --> 00:08:40.340 align:start position:0% privacy recovery and compromise right 00:08:40.340 --> 00:08:42.730 align:start position:0% privacy recovery and compromise right and<00:08:41.120> with<00:08:41.330> this<00:08:41.539> you<00:08:41.930> lay<00:08:42.080> the<00:08:42.229> foundation 00:08:42.730 --> 00:08:42.740 align:start position:0% and with this you lay the foundation 00:08:42.740 --> 00:08:45.340 align:start position:0% and with this you lay the foundation then<00:08:43.010> to<00:08:43.520> be<00:08:43.640> able<00:08:43.729> to<00:08:43.880> sign<00:08:44.180> documents<00:08:44.420> hold 00:08:45.340 --> 00:08:45.350 align:start position:0% then to be able to sign documents hold 00:08:45.350 --> 00:08:47.680 align:start position:0% then to be able to sign documents hold assets<00:08:45.950> and<00:08:46.220> do<00:08:46.880> whatever<00:08:47.120> it<00:08:47.360> is<00:08:47.450> that<00:08:47.630> you 00:08:47.680 --> 00:08:47.690 align:start position:0% assets and do whatever it is that you 00:08:47.690 --> 00:08:49.060 align:start position:0% assets and do whatever it is that you need<00:08:47.870> to<00:08:47.960> do<00:08:48.080> otherwise<00:08:48.350> in<00:08:48.650> the<00:08:48.740> real<00:08:48.860> world 00:08:49.060 --> 00:08:49.070 align:start position:0% need to do otherwise in the real world 00:08:49.070 --> 00:08:51.270 align:start position:0% need to do otherwise in the real world in<00:08:49.880> this<00:08:50.120> digital<00:08:50.420> world 00:08:51.270 --> 00:08:51.280 align:start position:0% in this digital world 00:08:51.280 --> 00:08:55.540 align:start position:0% in this digital world now<00:08:52.280> this<00:08:53.120> here<00:08:53.450> is<00:08:53.630> the<00:08:53.900> main<00:08:54.050> blueprint<00:08:54.550> this 00:08:55.540 --> 00:08:55.550 align:start position:0% now this here is the main blueprint this 00:08:55.550 --> 00:08:57.190 align:start position:0% now this here is the main blueprint this is<00:08:55.670> what<00:08:55.850> we've<00:08:56.030> been<00:08:56.060> working<00:08:56.480> very<00:08:56.540> hard<00:08:56.750> for 00:08:57.190 --> 00:08:57.200 align:start position:0% is what we've been working very hard for 00:08:57.200 --> 00:08:59.320 align:start position:0% is what we've been working very hard for the<00:08:57.680> last<00:08:57.710> one<00:08:58.340> year<00:08:58.490> actually<00:08:58.910> I<00:08:58.940> wrote<00:08:59.150> my 00:08:59.320 --> 00:08:59.330 align:start position:0% the last one year actually I wrote my 00:08:59.330 --> 00:09:01.870 align:start position:0% the last one year actually I wrote my first<00:08:59.360> marc<00:08:59.900> contract<00:09:00.410> right<00:09:01.310> about<00:09:01.580> the<00:09:01.700> same 00:09:01.870 --> 00:09:01.880 align:start position:0% first marc contract right about the same 00:09:01.880 --> 00:09:03.820 align:start position:0% first marc contract right about the same time<00:09:01.940> when<00:09:02.360> defqon.1<00:09:02.810> was<00:09:03.230> going<00:09:03.470> on<00:09:03.650> and 00:09:03.820 --> 00:09:03.830 align:start position:0% time when defqon.1 was going on and 00:09:03.830 --> 00:09:05.770 align:start position:0% time when defqon.1 was going on and today<00:09:04.520> we've<00:09:04.730> got<00:09:04.910> a<00:09:04.970> whole<00:09:05.150> suite<00:09:05.450> of<00:09:05.480> them 00:09:05.770 --> 00:09:05.780 align:start position:0% today we've got a whole suite of them 00:09:05.780 --> 00:09:09.260 align:start position:0% today we've got a whole suite of them it's<00:09:05.990> it's<00:09:06.260> interesting<00:09:06.910> so<00:09:07.910> central<00:09:08.300> to<00:09:08.670> -<00:09:08.910> - 00:09:09.260 --> 00:09:09.270 align:start position:0% it's it's interesting so central to - - 00:09:09.270 --> 00:09:10.340 align:start position:0% it's it's interesting so central to - - all<00:09:09.390> of<00:09:09.480> this<00:09:09.540> is<00:09:09.690> the<00:09:09.810> company<00:09:10.110> smart 00:09:10.340 --> 00:09:10.350 align:start position:0% all of this is the company smart 00:09:10.350 --> 00:09:11.600 align:start position:0% all of this is the company smart contract<00:09:10.710> and<00:09:10.830> what<00:09:10.980> is<00:09:11.070> the<00:09:11.130> company<00:09:11.400> smart 00:09:11.600 --> 00:09:11.610 align:start position:0% contract and what is the company smart 00:09:11.610 --> 00:09:14.150 align:start position:0% contract and what is the company smart contract<00:09:11.970> itself<00:09:12.690> is<00:09:12.960> an<00:09:13.080> identity<00:09:13.440> it's<00:09:14.070> an 00:09:14.150 --> 00:09:14.160 align:start position:0% contract itself is an identity it's an 00:09:14.160 --> 00:09:15.410 align:start position:0% contract itself is an identity it's an identity<00:09:14.490> that's<00:09:14.700> controlled<00:09:15.210> by<00:09:15.360> the 00:09:15.410 --> 00:09:15.420 align:start position:0% identity that's controlled by the 00:09:15.420 --> 00:09:17.810 align:start position:0% identity that's controlled by the stakeholders<00:09:16.050> of<00:09:16.320> the<00:09:16.650> company<00:09:17.070> so<00:09:17.460> these<00:09:17.610> can 00:09:17.810 --> 00:09:17.820 align:start position:0% stakeholders of the company so these can 00:09:17.820 --> 00:09:19.730 align:start position:0% stakeholders of the company so these can be<00:09:17.850> directors<00:09:18.420> this<00:09:18.870> can<00:09:19.050> be<00:09:19.170> shareholders 00:09:19.730 --> 00:09:19.740 align:start position:0% be directors this can be shareholders 00:09:19.740 --> 00:09:21.380 align:start position:0% be directors this can be shareholders this<00:09:20.040> can<00:09:20.190> be<00:09:20.280> there<00:09:20.820> can<00:09:20.880> be<00:09:20.970> a<00:09:21.060> corporate 00:09:21.380 --> 00:09:21.390 align:start position:0% this can be there can be a corporate 00:09:21.390 --> 00:09:23.060 align:start position:0% this can be there can be a corporate secretary<00:09:21.720> involved<00:09:22.080> in<00:09:22.170> there<00:09:22.320> and<00:09:22.500> they<00:09:22.920> all 00:09:23.060 --> 00:09:23.070 align:start position:0% secretary involved in there and they all 00:09:23.070 --> 00:09:25.640 align:start position:0% secretary involved in there and they all do<00:09:23.310> this<00:09:23.520> by<00:09:23.730> way<00:09:23.940> of<00:09:23.970> legal<00:09:24.480> documents<00:09:25.200> so 00:09:25.640 --> 00:09:25.650 align:start position:0% do this by way of legal documents so 00:09:25.650 --> 00:09:28.250 align:start position:0% do this by way of legal documents so there<00:09:25.890> are<00:09:26.010> preset<00:09:26.940> legal<00:09:27.420> documents<00:09:27.990> in<00:09:28.080> the 00:09:28.250 --> 00:09:28.260 align:start position:0% there are preset legal documents in the 00:09:28.260 --> 00:09:32.480 align:start position:0% there are preset legal documents in the real<00:09:28.410> world<00:09:28.680> which<00:09:29.610> you<00:09:29.850> use<00:09:30.780> to<00:09:31.380> enact<00:09:32.250> any 00:09:32.480 --> 00:09:32.490 align:start position:0% real world which you use to enact any 00:09:32.490 --> 00:09:33.800 align:start position:0% real world which you use to enact any action<00:09:32.970> in<00:09:33.030> the<00:09:33.090> company<00:09:33.360> smart<00:09:33.540> contract 00:09:33.800 --> 00:09:33.810 align:start position:0% action in the company smart contract 00:09:33.810 --> 00:09:35.390 align:start position:0% action in the company smart contract whether<00:09:33.930> it's<00:09:34.110> a<00:09:34.170> transfer<00:09:34.560> or<00:09:34.620> asset<00:09:35.100> you 00:09:35.390 --> 00:09:35.400 align:start position:0% whether it's a transfer or asset you 00:09:35.400 --> 00:09:37.340 align:start position:0% whether it's a transfer or asset you want<00:09:35.430> to<00:09:35.610> add<00:09:35.760> directors<00:09:36.330> any<00:09:36.750> corporate 00:09:37.340 --> 00:09:37.350 align:start position:0% want to add directors any corporate 00:09:37.350 --> 00:09:38.810 align:start position:0% want to add directors any corporate action<00:09:37.710> that<00:09:37.800> you<00:09:37.860> have<00:09:37.950> to<00:09:38.040> do<00:09:38.160> is<00:09:38.370> by<00:09:38.580> way<00:09:38.790> of 00:09:38.810 --> 00:09:38.820 align:start position:0% action that you have to do is by way of 00:09:38.820 --> 00:09:42.020 align:start position:0% action that you have to do is by way of the<00:09:39.330> proper<00:09:39.750> legal<00:09:39.930> document<00:09:40.500> and<00:09:40.590> process<00:09:41.490> so 00:09:42.020 --> 00:09:42.030 align:start position:0% the proper legal document and process so 00:09:42.030 --> 00:09:44.000 align:start position:0% the proper legal document and process so we've<00:09:42.180> also<00:09:42.450> replicated<00:09:43.170> real<00:09:43.350> world<00:09:43.650> legal 00:09:44.000 --> 00:09:44.010 align:start position:0% we've also replicated real world legal 00:09:44.010 --> 00:09:45.980 align:start position:0% we've also replicated real world legal processes<00:09:44.400> so<00:09:45.120> there<00:09:45.300> can<00:09:45.420> be<00:09:45.450> a<00:09:45.540> multi-step 00:09:45.980 --> 00:09:45.990 align:start position:0% processes so there can be a multi-step 00:09:45.990 --> 00:09:48.050 align:start position:0% processes so there can be a multi-step process<00:09:46.380> that<00:09:46.410> can<00:09:46.680> be<00:09:46.800> ten<00:09:47.430> documents<00:09:47.970> that 00:09:48.050 --> 00:09:48.060 align:start position:0% process that can be ten documents that 00:09:48.060 --> 00:09:49.370 align:start position:0% process that can be ten documents that you<00:09:48.180> need<00:09:48.390> let's<00:09:48.720> say<00:09:48.810> in<00:09:48.930> the<00:09:49.020> case<00:09:49.170> of<00:09:49.320> a 00:09:49.370 --> 00:09:49.380 align:start position:0% you need let's say in the case of a 00:09:49.380 --> 00:09:50.780 align:start position:0% you need let's say in the case of a funding<00:09:49.710> run<00:09:49.890> and<00:09:50.130> they<00:09:50.490> might<00:09:50.640> have<00:09:50.670> a 00:09:50.780 --> 00:09:50.790 align:start position:0% funding run and they might have a 00:09:50.790 --> 00:09:52.640 align:start position:0% funding run and they might have a certain<00:09:51.030> sequence<00:09:51.450> and<00:09:51.690> that<00:09:51.930> ten<00:09:52.140> documents 00:09:52.640 --> 00:09:52.650 align:start position:0% certain sequence and that ten documents 00:09:52.650 --> 00:09:53.440 align:start position:0% certain sequence and that ten documents will 00:09:53.440 --> 00:09:53.450 align:start position:0% will 00:09:53.450 --> 00:09:55.460 align:start position:0% will have<00:09:54.450> to<00:09:54.570> be<00:09:54.660> executed<00:09:54.900> in<00:09:55.140> the<00:09:55.230> correct 00:09:55.460 --> 00:09:55.470 align:start position:0% have to be executed in the correct 00:09:55.470 --> 00:09:56.870 align:start position:0% have to be executed in the correct sequence<00:09:55.560> otherwise<00:09:56.070> it<00:09:56.220> will<00:09:56.280> not<00:09:56.340> work<00:09:56.490> I 00:09:56.870 --> 00:09:56.880 align:start position:0% sequence otherwise it will not work I 00:09:56.880 --> 00:09:58.640 align:start position:0% sequence otherwise it will not work I think<00:09:57.180> I'm<00:09:57.510> running<00:09:57.660> out<00:09:57.870> of<00:09:57.930> time<00:09:58.260> probably 00:09:58.640 --> 00:09:58.650 align:start position:0% think I'm running out of time probably 00:09:58.650 --> 00:10:00.800 align:start position:0% think I'm running out of time probably but<00:09:59.190> let<00:09:59.580> me<00:09:59.670> just<00:09:59.850> quickly<00:09:59.970> go<00:10:00.300> through<00:10:00.330> what 00:10:00.800 --> 00:10:00.810 align:start position:0% but let me just quickly go through what 00:10:00.810 --> 00:10:02.960 align:start position:0% but let me just quickly go through what else<00:10:01.500> we<00:10:01.770> are<00:10:01.830> trying<00:10:02.070> to<00:10:02.220> do<00:10:02.310> okay<00:10:02.430> so<00:10:02.550> before 00:10:02.960 --> 00:10:02.970 align:start position:0% else we are trying to do okay so before 00:10:02.970 --> 00:10:04.370 align:start position:0% else we are trying to do okay so before that<00:10:03.120> so<00:10:03.360> that's<00:10:03.540> that's<00:10:03.780> what<00:10:03.990> we<00:10:04.110> do<00:10:04.230> so 00:10:04.370 --> 00:10:04.380 align:start position:0% that so that's that's what we do so 00:10:04.380 --> 00:10:06.370 align:start position:0% that so that's that's what we do so we've<00:10:04.560> got<00:10:04.710> a<00:10:04.740> collection<00:10:05.100> here<00:10:05.310> that's<00:10:05.670> got<00:10:05.880> a 00:10:06.370 --> 00:10:06.380 align:start position:0% we've got a collection here that's got a 00:10:06.380 --> 00:10:09.080 align:start position:0% we've got a collection here that's got a complete<00:10:07.380> trace<00:10:08.280> of<00:10:08.550> legal<00:10:08.970> documents 00:10:09.080 --> 00:10:09.090 align:start position:0% complete trace of legal documents 00:10:09.090 --> 00:10:11.270 align:start position:0% complete trace of legal documents identities<00:10:09.990> transactions<00:10:10.620> everything<00:10:10.890> but 00:10:11.270 --> 00:10:11.280 align:start position:0% identities transactions everything but 00:10:11.280 --> 00:10:13.670 align:start position:0% identities transactions everything but what<00:10:11.400> is<00:10:11.520> cool<00:10:11.670> is<00:10:11.730> those<00:10:12.090> two<00:10:12.120> purple<00:10:13.110> circles 00:10:13.670 --> 00:10:13.680 align:start position:0% what is cool is those two purple circles 00:10:13.680 --> 00:10:15.710 align:start position:0% what is cool is those two purple circles that<00:10:13.770> you<00:10:13.830> see<00:10:14.130> one<00:10:14.670> is<00:10:14.820> the<00:10:14.850> decentralized 00:10:15.710 --> 00:10:15.720 align:start position:0% that you see one is the decentralized 00:10:15.720 --> 00:10:17.600 align:start position:0% that you see one is the decentralized exchange<00:10:15.840> the<00:10:16.560> company<00:10:16.920> itself<00:10:17.250> could<00:10:17.490> become 00:10:17.600 --> 00:10:17.610 align:start position:0% exchange the company itself could become 00:10:17.610 --> 00:10:19.250 align:start position:0% exchange the company itself could become a<00:10:17.910> decentralized<00:10:18.450> exchange<00:10:18.570> which<00:10:19.020> is<00:10:19.050> pretty 00:10:19.250 --> 00:10:19.260 align:start position:0% a decentralized exchange which is pretty 00:10:19.260 --> 00:10:20.960 align:start position:0% a decentralized exchange which is pretty interesting<00:10:19.410> and<00:10:19.740> you<00:10:20.160> can<00:10:20.190> also<00:10:20.460> do<00:10:20.670> that<00:10:20.820> by 00:10:20.960 --> 00:10:20.970 align:start position:0% interesting and you can also do that by 00:10:20.970 --> 00:10:23.380 align:start position:0% interesting and you can also do that by way<00:10:21.180> of<00:10:21.210> a<00:10:21.420> synthetic<00:10:21.720> equity 00:10:23.380 --> 00:10:23.390 align:start position:0% way of a synthetic equity 00:10:23.390 --> 00:10:25.730 align:start position:0% way of a synthetic equity framework<00:10:24.390> as<00:10:24.720> well<00:10:24.930> and<00:10:25.170> we've<00:10:25.470> also 00:10:25.730 --> 00:10:25.740 align:start position:0% framework as well and we've also 00:10:25.740 --> 00:10:27.170 align:start position:0% framework as well and we've also designed<00:10:26.250> this<00:10:26.400> already<00:10:26.640> so<00:10:26.880> this<00:10:27.030> is<00:10:27.090> my 00:10:27.170 --> 00:10:27.180 align:start position:0% designed this already so this is my 00:10:27.180 --> 00:10:29.090 align:start position:0% designed this already so this is my synthetic<00:10:27.630> equity<00:10:28.200> smart<00:10:28.560> contract<00:10:28.950> in 00:10:29.090 --> 00:10:29.100 align:start position:0% synthetic equity smart contract in 00:10:29.100 --> 00:10:30.230 align:start position:0% synthetic equity smart contract in summary<00:10:29.400> I'm<00:10:29.490> not<00:10:29.610> going<00:10:29.760> to<00:10:29.820> go<00:10:29.910> through<00:10:30.090> it 00:10:30.230 --> 00:10:30.240 align:start position:0% summary I'm not going to go through it 00:10:30.240 --> 00:10:34.250 align:start position:0% summary I'm not going to go through it but<00:10:30.420> it<00:10:30.900> is<00:10:31.140> a<00:10:31.760> a<00:10:32.760> way<00:10:33.450> to<00:10:33.480> replicate<00:10:33.870> the 00:10:34.250 --> 00:10:34.260 align:start position:0% but it is a a way to replicate the 00:10:34.260 --> 00:10:36.530 align:start position:0% but it is a a way to replicate the payoff<00:10:34.590> that<00:10:35.100> you<00:10:35.190> otherwise<00:10:35.580> have<00:10:36.180> by 00:10:36.530 --> 00:10:36.540 align:start position:0% payoff that you otherwise have by 00:10:36.540 --> 00:10:38.750 align:start position:0% payoff that you otherwise have by holding<00:10:36.900> real<00:10:37.050> equity<00:10:37.440> we're<00:10:38.430> a<00:10:38.460> smart 00:10:38.750 --> 00:10:38.760 align:start position:0% holding real equity we're a smart 00:10:38.760 --> 00:10:40.250 align:start position:0% holding real equity we're a smart contract<00:10:38.910> so<00:10:39.420> that's<00:10:39.600> basically<00:10:39.900> what<00:10:40.110> this 00:10:40.250 --> 00:10:40.260 align:start position:0% contract so that's basically what this 00:10:40.260 --> 00:10:42.680 align:start position:0% contract so that's basically what this does<00:10:40.320> so<00:10:40.980> that<00:10:41.160> is<00:10:41.280> something<00:10:41.460> that<00:10:41.690> we've 00:10:42.680 --> 00:10:42.690 align:start position:0% does so that is something that we've 00:10:42.690 --> 00:10:44.420 align:start position:0% does so that is something that we've designed<00:10:43.050> we<00:10:43.320> haven't<00:10:43.560> implemented<00:10:43.830> yet<00:10:44.040> and 00:10:44.420 --> 00:10:44.430 align:start position:0% designed we haven't implemented yet and 00:10:44.430 --> 00:10:46.250 align:start position:0% designed we haven't implemented yet and this<00:10:45.090> is<00:10:45.180> what<00:10:45.300> I<00:10:45.330> mean<00:10:45.600> when<00:10:45.750> I<00:10:45.780> say<00:10:46.050> we're 00:10:46.250 --> 00:10:46.260 align:start position:0% this is what I mean when I say we're 00:10:46.260 --> 00:10:47.690 align:start position:0% this is what I mean when I say we're working<00:10:46.530> towards<00:10:46.800> a<00:10:46.860> completely<00:10:47.250> centralized 00:10:47.690 --> 00:10:47.700 align:start position:0% working towards a completely centralized 00:10:47.700 --> 00:10:49.610 align:start position:0% working towards a completely centralized autonomous<00:10:48.510> organization<00:10:49.080> at<00:10:49.170> some<00:10:49.380> point 00:10:49.610 --> 00:10:49.620 align:start position:0% autonomous organization at some point 00:10:49.620 --> 00:10:52.490 align:start position:0% autonomous organization at some point these<00:10:50.400> are<00:10:50.550> things<00:10:50.790> that<00:10:50.820> you<00:10:50.970> would<00:10:51.060> need<00:10:51.500> and 00:10:52.490 --> 00:10:52.500 align:start position:0% these are things that you would need and 00:10:52.500 --> 00:10:54.320 align:start position:0% these are things that you would need and of<00:10:52.950> course<00:10:53.220> the<00:10:53.880> company<00:10:54.210> has<00:10:54.300> a 00:10:54.320 --> 00:10:54.330 align:start position:0% of course the company has a 00:10:54.330 --> 00:10:56.240 align:start position:0% of course the company has a decentralized<00:10:54.810> exchange<00:10:54.900> this<00:10:55.470> is<00:10:55.560> a<00:10:55.770> very 00:10:56.240 --> 00:10:56.250 align:start position:0% decentralized exchange this is a very 00:10:56.250 --> 00:10:57.530 align:start position:0% decentralized exchange this is a very interesting<00:10:56.430> slide<00:10:56.730> -<00:10:57.030> I'm<00:10:57.150> not<00:10:57.300> going<00:10:57.420> to<00:10:57.480> go 00:10:57.530 --> 00:10:57.540 align:start position:0% interesting slide - I'm not going to go 00:10:57.540 --> 00:11:00.380 align:start position:0% interesting slide - I'm not going to go into<00:10:57.720> the<00:10:57.810> details<00:10:58.260> but<00:10:58.740> in<00:10:59.430> one<00:10:59.730> line<00:10:59.940> your 00:11:00.380 --> 00:11:00.390 align:start position:0% into the details but in one line your 00:11:00.390 --> 00:11:02.030 align:start position:0% into the details but in one line your company<00:11:00.720> is<00:11:00.780> a<00:11:00.990> decentralized<00:11:01.500> exchange<00:11:01.620> now 00:11:02.030 --> 00:11:02.040 align:start position:0% company is a decentralized exchange now 00:11:02.040 --> 00:11:04.580 align:start position:0% company is a decentralized exchange now so<00:11:02.670> this<00:11:03.000> is<00:11:03.090> also<00:11:03.240> very<00:11:03.450> powerful<00:11:03.690> working 00:11:04.580 --> 00:11:04.590 align:start position:0% so this is also very powerful working 00:11:04.590 --> 00:11:05.860 align:start position:0% so this is also very powerful working towards<00:11:04.860> this<00:11:05.010> and 00:11:05.860 --> 00:11:05.870 align:start position:0% towards this and 00:11:05.870 --> 00:11:09.200 align:start position:0% towards this and the<00:11:06.870> team<00:11:07.080> if<00:11:07.470> I<00:11:07.650> mean<00:11:07.860> just<00:11:08.130> before<00:11:08.610> before<00:11:09.180> I 00:11:09.200 --> 00:11:09.210 align:start position:0% the team if I mean just before before I 00:11:09.210 --> 00:11:11.030 align:start position:0% the team if I mean just before before I get<00:11:09.390> cut<00:11:09.540> off<00:11:09.630> here<00:11:09.810> I<00:11:09.870> think<00:11:10.200> the<00:11:10.590> team<00:11:10.770> Han 00:11:11.030 --> 00:11:11.040 align:start position:0% get cut off here I think the team Han 00:11:11.040 --> 00:11:13.910 align:start position:0% get cut off here I think the team Han our<00:11:11.430> CEO<00:11:11.940> is<00:11:12.270> right<00:11:12.480> there<00:11:12.720> and<00:11:13.020> the<00:11:13.740> team 00:11:13.910 --> 00:11:13.920 align:start position:0% our CEO is right there and the team 00:11:13.920 --> 00:11:15.590 align:start position:0% our CEO is right there and the team that's<00:11:14.130> always<00:11:14.310> working<00:11:14.730> hard<00:11:14.760> with<00:11:15.210> me<00:11:15.390> on 00:11:15.590 --> 00:11:15.600 align:start position:0% that's always working hard with me on 00:11:15.600 --> 00:11:17.630 align:start position:0% that's always working hard with me on the<00:11:15.720> weekends<00:11:16.170> guys<00:11:16.830> stand<00:11:17.160> up<00:11:17.280> and<00:11:17.490> take<00:11:17.610> a 00:11:17.630 --> 00:11:17.640 align:start position:0% the weekends guys stand up and take a 00:11:17.640 --> 00:11:19.150 align:start position:0% the weekends guys stand up and take a bow<00:11:17.820> please 00:11:19.150 --> 00:11:19.160 align:start position:0% bow please 00:11:19.160 --> 00:11:21.020 align:start position:0% bow please ladies<00:11:20.160> and<00:11:20.220> gentlemen<00:11:20.580> these<00:11:20.700> are<00:11:20.820> the<00:11:20.880> guys 00:11:21.020 --> 00:11:21.030 align:start position:0% ladies and gentlemen these are the guys 00:11:21.030 --> 00:11:22.130 align:start position:0% ladies and gentlemen these are the guys that 00:11:22.130 --> 00:11:22.140 align:start position:0% that 00:11:22.140 --> 00:11:23.990 align:start position:0% that give<00:11:22.290> up<00:11:22.410> their<00:11:22.590> weekends<00:11:22.980> for<00:11:23.160> me<00:11:23.310> thank<00:11:23.910> you 00:11:23.990 --> 00:11:24.000 align:start position:0% give up their weekends for me thank you 00:11:24.000 --> 00:11:25.800 align:start position:0% give up their weekends for me thank you very<00:11:24.120> much 00:11:25.800 --> 00:11:25.810 align:start position:0% very much 00:11:25.810 --> 00:11:34.220 align:start position:0% very much [Music]